There is clearly huge losses in investing in crypto-currencies these days. The markets aren’t steaming or beaming up high. It is maybe a downturn and a natural progression after a rising bear market over the years. However, in the recent months there been some red flags.
This being the fall of Celsius, Terra, Voyager and Three Arrows. Only today the well known FTX is seeking bankruptcy as well. That means that several of crypto-currency exchanges or “banks” has fallen.
For me that is a sign of a negative spiral. When the entities that trade, store crypto-currencies and are the middle-men are ones going bust. They are going in the wind and the consumer buying from these entities are losing their investments. Their savings and risks have outweighed the supposed massive gains.
These entities was supposed to sell, trade and be the wallet of the crypto-currencies. These entities was initially ensuring the blockchains or the trade of crypto. So, when these businesses goes bust. You know the business model isn’t working or have enough liquidity to work. They cannot even find a sustainable method or means of running the trade. The businesses has leveraged tokens and these internal coins has been deemed worthless. That’s why they fell after the value of these tokens crashed into the ground.
It is like these businesses has gone in circle. They have promised huge returns and being secure places to invest in crypto. The owners and CEOs has pledge vast funds and equity. It seems that these companies has sold dreams and it has turned into nightmares.
They have sold the clouds, but never taken anyone up into the air. These things didn’t have a foundation or a roots to begin with. The companies was just selling dreams and visions, but not substantial or valuable products. That’s why these are falling apart so rapidly. Either when their own tokens are devalued or cease to exist. If not when either Bitcoin or Ethereum is losing steam. It’s like everything evaporates and goes into thin-air.
That’s why the following of these companies only shows how this bear-market has worked. When the times are good and people are investing. Everything seems on the “up and up”. However, when people are pulling their funds and the big investors loses interests. It is like a crash is happening and it’s erupting in a total cluster-fuck. Where the only last resort is going bankrupt and stop operating.
This unregulated market surely knows how to make itself look irredeemable. Because, the companies that trades crypto and seems like the major players are all falling out. They are just losing it and will cease to exist. That is a tragic result, as all the ones investing and spending money through these entities are losing their money. Unless, they were able to pull out their funds or empty their wallets in time. Because that is off essence here.
We can surely see there is no good news. Only another company who traded crypto going bust. Another place where people invested and trusted to do their “banking” has been lost.
The ones that believes the crypt currencies are the future. Is making it much harder for themselves. When their banks, stock-exchanges or whatnot are going under this rapidly. They are just proving why there is a need for legislation and for more oversight. Since so much values are lost and people are hurting just for trusting in these entities. It is just not sustainable and it will deplete small time investors who did risk their funds into it. Peace.
“One of the great opportunities of Brexit is our ability to trade more with countries around the world. I know that the right hon. Lady will want to speak to many of the Welsh farmers who are enjoying selling their lamb to the new markets that we have opened up for them. That is what we will get on and deliver” – Prime Minister Rishi Sunak (09.11.2022).
The new Prime Minister in the PMQs answered a question about international trading from Liz Saville Roberts MP. Who asked a serious question in concerns with the forecasts from the Office for Budget Responsibility, which states the trade will be lowered by 15%. In response to that, the PM answered this and went on about selling welsh lambs.
This isn’t a case of only mutton. No, this is a case of botched opportunities and losing the European Single Market. The realities of Brexit is setting in and as a Third Country, the losses are piling up. That’s why the export industries has been hit and other industries have even flagged out of the United Kingdom. Because, they are safer to be within the European Union and the Single Market… than risking their bets from the UK.
That’s why it’s interesting not only the mention of a bad forecasts from the OBR. There are other reports coming with shattering numbers, which the former Chancellor should be worried about.
Just read this:
“David Jinks, head of consumer research at logistics firm ParcelHero, commented: “Britain’s exporters of goods, from food to cars, have all suffered from the impact of the poorly negotiated Brexit trade agreement and increased red tape and duties. The same applies to services, from finance to computing, which now fall outside the regulated EU services market. “Perhaps most disappointingly, these latest results reveal Britain failed to successfully transition away from the EU to other overseas markets – one of the positive outcomes promised by Brexiteers. Looking at two vital export markets beyond the EU, the numbers also tumbled. “Perhaps the situation is summed up best by looking at the UK’s exports to the whole of the EU. In 2019, they stood at a healthy £298bn. By 2021, they had slumped by £30bn to £268bn, but even that was a huge lift from the £259bn they had tumbled to in 2020, in the immediate aftermath of Brexit.”” (Chris Sparks – ‘UK Exports Slump In The Aftermath Of Brexit’ 31.10.2022, Businessplus.ie).
A conclusion from one paper:
“Across EU member states, we find that Brexit has led to a significant decline in trade with the UK in almost all cases although by varying magnitudes. Looking at the different margins of trade, we find a substantial reduction in the number of products traded from the UK to the EU. However, for EU to UKtrade, three quarters of the estimated fall in trade can be attributed to the intensive margin. This is consistent with a pattern of smaller trade flows more impacted by changes in trade costs in the UK to EU direction and hence ceasing to trade” (Janez Kren & Martina Lawless – ‘How has Brexit changed EU-UK trade flows?’, October 2022, Economic & Social Research Institute (ESRI) – ESRI Working Paper No. 735).
When a man like David Jinks is stating this. We have already seen how the Seafood industry and Animal industry has reacted to the effects of Brexit. There has been businesses and such who has lost out a lot, because of it. Brexit has brought a lot of ramifications and no deal or the free trade agreement (FTA) has the ability to cover the losses of trading within the EU.
Brexit promised a fantasy land, which haven’t appeared. The dreams of leaving the EU and getting full sovereignty haven’t cut it for the businesses. The exporters has been hit and the logistical firms has also been devastated by it. This is the true costs of operating from the outside and also locking itself from the European continent by default.
The losses of the trade agreements which the UK had through the membership of EU hasn’t been replicated either. Neither is it getting the same sort of treatment or abilities to export to the EU. That’s the consequence of the Withdrawal Agreement and successive negotiations ever since. The UK has failed here and they are continuing the agony.
The Prime Minister can make lofty promises and say the Brexit will create a new day tomorrow. However, the realities are the same and the UK haven’t established or been able to generate deals, which are as beneficial as being part of the single market. That is just an issue that will linger on. Because, that’s what gave the UK a huge boost and simplistic trading partner with the EU Member States, which it doesn’t have today.
So, when Sunak says there is lots of opportunities, as a result of Brexit. I don’t see it and I only see a lie. All things are showing that the downturn and the affects of Brexit is a decline. The Brexit itself has only cost and it isn’t changing for the better. Peace.
“I will unite our country, not with words, but with action. I will work day in and day out to deliver for you. This government will have integrity, professionalism and accountability at every level” – Prime Minister Rishi Sunak (25.10.2022).
The Prime Minister with his announced cabinet reshuffle is really re-issuing some known faces from Boris Johnson and giving way to some of the appointees of Liz Truss. This isn’t a sign of a new era or a change towards reform. No, this is a continuation of the latter years and not much significant changes either.
Prime Minister Rishi Sunak isn’t doing anyone any real favours here. Appoint the likes of Dominic Raab and Michael Gove. Neither is the likes of Therese Coffey or Suella Braverman choices of reason. The pick of Penny Mourdaunt seems just to buy peace, as she was his competition for the office in the first place. Others are re-appointments or re-shuffling into new positions. The one who has been everywhere this it seems, Nadhim Zahawi. That just shows it all and the public should understand the game now.
PM Sunak is just trying to find the sweet spot between the ERG, the Boris clique and the alliance around Truss. Just so he has everyone covered and within his reach. That will be tricky position and it won’t be easy to pull off. No, he has to be on the proximity of all these groups and still able to play ball. If he has shortcomings or isn’t finding the right path. There will be resignation and claims that he differs from the “mandate” and what the Tories was “elected to do”. That will be the end-game here.
Heck, what is striking that Sunak has even appointed people who was in the cabinet of Theresa May. He is re-appointing and using old heads who haven’t made things better. That’s the likes of Jeremy Hunt, who also was appointed in the last minute of Truss cabinet too. Therefore, Sunak is really just trying to play with everyone.
While his only appointing a few loyalists of himself too. Nevertheless, it doesn’t seem to be many of these. That means that the ones around him are people who can turn on him quickly. The moment the buck stops and the knives are out… they will turn on him and bury him like they did the predecessors.
Prime Minister Sunak promised a government of integrity, professionalism and accountability… while he has chosen similar characters and MPs into cabinet, which has shown the opposite. The PM has taken in people who has broke the ministerial code and haven’t valued the Nolan principals either.
The PM has to prove his words, but the appointed ministers proves these words was all fluff. It was for publicity, but he appointed the opposite to unite the party. He didn’t appoint these ones to be more professional or show integrity.
Who appoints Braverman and Gove for integrity? Who appoints Raab for professionalism?
Well, this cabinet is just the Tories best-of-hits… and it’s not looking good. It is just the first day, but it’s not looking good for Sunak. Who isn’t changing tune, but is just another one. Peace.