The world leaders have begun to create a synthetic crisis. This crisis is far scarier - the energy crisis.
It is not an accident that coal-fired power plants in Great Britain were not just shut down or canned. They exploded it without any chance to rebuild. It gave the island 44% of its generation in 2012.
Britain is developing a plan to build a 3,800 km long transmission line off the coast of Morocco. There will build wind farms. They will be able to meet as much as 5% of Britain's electricity needs. By the way, they will lose up to 30% of the generated electricity in the submarine cables. All countries in whose territorial waters the cable runs will have to pay a constant fee. There has never been a more costly energy project on the planet.
Last year, in 2020, China permanently abandoned imports of coal from Australia, which covered 25% of the Celestial Empire's electricity generation. Most interestingly, China has not sent proposals to, for example, the Russian Ministry of Energy to organize coal exports. It simply increased its consumption of liquefied gas. The result was not long in coming.
The largest factories all over China receive a schedule of power outages. The schemes include 2 in 2 or 1 in 3 days. The most extensive electricity consumers are the industrial companies. They will work only 3 or 4 days a week.
Orders from major technology companies are in jeopardy. It is the most trivial issue we have. The fact is that almost all manufacturers in the world in mechanical engineering, electronics, pharmaceuticals, light industry, and the food industry are dependent on component supplies from China.
They couldn't invent anything better than an energy crisis in China to disrupt global supply chains, production processes and provoke mass unemployment and hunger.
There are two global dangers in the world right now. The first is the bankruptcy of the Chinese mega-developer Evergrande, which threatens to bankrupt dozens of businesses in China and even more investment funds in the United States. The second is a default by the U.S. federal government, which could occur soon.
So far, there is not a hint of consensus among congressmen (Democrats and Republicans) about the issue of raising the limit of the federal budget borrowing by $3.5 trillion. Such a decision would automatically be associated with a bill to change the taxation rules in the United States. Biden signs a government funding bill to prevent a shutdown.
So-called unrealized gains will now be taxed. For example, you own a house for $400,000, and last year it went up in value to $600,000. In that case, you immediately owe $60,000 to $100,000 in taxes. So if you don't currently have that money, you will need to sell your house to pay your taxes.
The same goes for cryptocurrency owners. Let's suppose that you have Bitcoin in your portfolio, and it has grown in value by 300% during a year. You don't want to sell it. You are waiting for the price of 300k per BTC. In case of this law is passed, you have to pay taxes and have to sell half of your bitcoins to pay taxes.
why are you trying to FUD ? just because your last BTC analysis is getting destroyed By bullish move ?
alex13200
⋅
Where is the source? All I know is that it will be taxed only if you sell.
nohumbug
⋅
Mostly FUD. No certainty of unrealized taxes, more likely debt (which is the most serious of problems) will need to be forgiven.
forever_green
⋅
@nohumbug, I don't think as much sovereign debt as would be needed forgiving, could be. At least, not without seriously threatening the dollar's world reserve status. Far too much negative equity on the books.
rattlecage
⋅
@nohumbug, Debt isn't really that of a serious of problem, that debt will never will payed backed either way, it existed to keep the economy a float, if it crashes, so does you, your family and your friends.
Querkle
⋅
Sooooooo…. All in on Bitcoin and buy a house in Malta?