Murray retweeted
Dutch Government:
> Hold a Bitcoin ETF = Capital gains tax
> Hold Bitcoin on an exchange = Paper gains tax
This is what they came up with after months of deliberation and a lot of pushback on taxing paper gains on stocks and crypto.
The idea is that “financial instruments” under MiFID are now taxed based on capital gains (instead of paper gains, as in the initial proposal).
Crypto is not a financial instrument under MiFID, so it’s taxed based on paper gains. After 2030, it will be moved into the capital gains category.
But crypto is not a financial instrument under MiFID because it has its own regulation: MiCA.
This part is so unbelievably stupid I can’t wrap my head around it.
We got dedicated crypto regulation in the form of MiCA. We got DAC8 implemented for crypto exchanges, which requires exchanges to collect customer data and share it with the tax authority.
In many ways, the Dutch crypto sector is better prepared for the new tax system than legacy banks.
Many of these companies worked their asses off to comply with these regulations. Is this how you reward them?
And I haven’t even started on the unintended effects for ordinary citizens.
People will sell their crypto on exchanges, send the money to their broker, and buy a BlackRock Bitcoin ETF.
It's literally a couple of clicks on your computer to go from paper gains to capital gains tax.
What. The. Hell.
This idea has so many loopholes and so many unwanted first-, second-, and third-order effects. It's a clear example of path dependency and the sunk cost fallacy.
The government went down this road and apparently can't do what's best: scrap the current plan and start over.
I hope they surprise me and fix this mess.
Murray retweeted
Government: We should have harsher regulations and higher taxes on business to prevent pollution and fight climate change.
Also government:
Murray retweeted
It takes just about three hours to gain fundamental economic understanding--and thereby step ahead of 95% or so of people. It's life-changing. And it doesn't have to cost you any money at all.
Just a reminder that you can get my #economics primer--probably the shortest and easiest way to get economically literate--at no cost ($0.00) from the @MisesBookstore or download the epub, PDF, audiobook, etc. Please share with family, friends, enemies... mises.org/primer
Murray retweeted
“You’re like a cartoon character of the archetype of evil, like Satan’s spawn, who mastered in legalese, who gets OJ & Epstein off and morally judge me? Your generation needs to let go of the wheel. You’ve given us enough disasters, $40T in debt, millions killed, enough of this.”
Murray retweeted
Politicians don’t even make up 1% of the population, yet they are responsible for more death than tobacco.
Wow
Yes.
A group of about 50 Jewish Holocaust survivors known as Nakam (the Avengers), led by Abba Kovner, planned in 1945-46 to poison the water supplies of major German cities to kill 6 million Germans as revenge for the Holocaust. They obtained arsenic and scouted targets like Nuremberg but the large-scale water plan was never executed. A related effort to poison bread for German POWs sickened over 2,000 but caused no confirmed mass deaths.
Murray retweeted
Put it in the Louvre
JUST IN: $760,000,000 worth of oil shorts were reportedly placed 20 minutes before President Trump announced the Strait of Hormuz was open.
Murray retweeted
Let me explain what just happened 👇
5 minutes before the President announced a halt to attacks on Iran… someone placed a $1.5 BILLION bet on stocks going up and dumped $192 million in oil.
5 minutes…
These trades were 4 to 6 times larger than anything else in the entire market. Whoever did this wasn’t guessing. You don’t risk $1.5 billion on a hunch.
There was zero public indication this announcement was coming. No leaks. No press. Nothing. The only people who knew were in the room when the decision was made.
Someone in that room picked up a phone.
And within minutes they made more money than most Americans will earn in a thousand lifetimes. In a single trade. On a war that cost you $4+ a gallon gas and $16 billion in tax dollars.
American citizens funded this war. Politicians are profiting from it.
This is not the first time. Every major announcement from this administration has had massive suspicious trades right before it dropped. Tariff reversals. Policy shifts. War decisions.
This is the most blatant insider trading operation in the history of American politics. It’s not even close. And it’s happening over and over in broad daylight.
You would go to federal prison for trading on a tip from your cousin. These people are front running war decisions with billion dollar bets and nobody will ever ask a single question.
Nobody will be investigated. Nobody will be charged. By tomorrow this will be buried under the next satisfying headline. Just like last time. And the time before that.
The game is rigged. And they’re not even trying to hide it anymore…
BREAKING: Just five minutes before Trump's announcement to halt the attacks on Iran, massive trades reportedly hit the market.
In one move, $1.5 billion in S&P 500 (ES) futures was bought while $192 million in oil (CL) futures was sold.
These orders were 4–6x larger than anything else at the time.
The trader seemingly made huge gains.
Unusual.
Murray retweeted
I have been deliberately silent on social media for a while. I use all my social media platforms to promote education & make dreams come true for young minds. I rarely post anything about family or politics.
This morning, Israel demolished the building I have an apartment in. It took 22 years of my work here & 20 years of my wife’s work to own this apartment. This madness has to stop.
Murray retweeted
After much reflection, I have decided to resign from my position as Director of the National Counterterrorism Center, effective today.
I cannot in good conscience support the ongoing war in Iran. Iran posed no imminent threat to our nation, and it is clear that we started this war due to pressure from Israel and its powerful American lobby.
It has been an honor serving under @POTUS and @DNIGabbard and leading the professionals at NCTC.
May God bless America.
