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A highlight from Mrs. Chatterjee Vs Norway (Hindi) (2023) Movie Review
"What's happening everybody, here and Ben back again. We've been in and out of the studio, so thank you for your patience. But, you know, we have lives and we want to go travel. Ben was just in Disney. Do you want to tell us a little bit about it? Yeah, we took our granddaughter, who is 9, we wanted her to get away from her younger sisters and have just a breather. It was a lot of fun. I was just telling Kira, I was playing the crane machine at the Disney arcade and I had won about 20 little stuffed animals and I was passing them out to people in the arcade. It was probably one of the nicest things I've ever seen someone do. People would come up to me and compliment me on it. Shout out to Lily, you're an amazing child. I think that is such a sweet, heartwarming story. I think it shows what a good person you're helping raise and be around and your influence. I think that's really beautiful. Speaking also of children, today we are covering the film Mrs. Chatterjee vs. Norway. This was a user suggestion, so thank you for recommending it to us. I had not seen this film, heard of it, or knew the true story that it is based on before it was introduced to me through this podcast. Ben, what about you? Yeah, I had never heard of it. It was suggested and I actually saw the backstory on it when I looked to see what it was about. It piqued my interest, so I threw it by you and I was like, this sounds like something that would be really interesting to cover. And here we are. And here we are. So, let's dive in. Obviously, it follows the story of Mrs. Chatterjee, who is an Indian woman who comes to live to Norway with her husband because he gets a job out there and he tells her, oh, we're going to live in Norway. We're going to start our family there. So, she follows him there. While they're there, they have two children. And something that I thought was weird was that the government just comes in and does these wellness checks on the kids. I don't know. That felt weird to me without school or any intervention. The processes felt weird to me. What did you think? Well, from what I understood, the coworker had them come in to watch them because the husband confronts him about it. And that's what I thought. I thought the coworker had mentioned something about some kind of abuse that he saw. And that's why it happened. Okay. So, I thought that that was abuse towards her. Okay. Well, that makes sense. And then the children would be under the abuse. Okay. I was a little confused, guys. My bad. So, they come in. They're watching the kids for what? It sounds like, what, like 10 weeks they watch the kids? And then in something that I felt completely unprofessional, they just basically kidnapped. They just take them. Yeah. I was watching it and all of a sudden, they just grabbed them and threw them in the car and took off. And she clings on to the car and goes flying off the car. And I'm like, oh, my God. What just happened? I'm like, this is – I mean, no notice, no nothing. I mean, I thought it was totally unprofessional. I don't know if that's how they do things in India. I mean, not India, no way. But it just totally blew my mind that they would just grab the child and run out the door like a criminal. Literally, like a criminal. And the fact that they were like so fake nice to her, like not even being like, hey, like maybe you should work on this and like change this or we're going to take your kid. They were just like so bent on taking the children that it felt like they never gave her a chance. They felt – it felt like they were just like doing whatever they needed to do to get these children into the government's custody. Yeah. At one point in the movie, they mentioned that, that like most of the children that were Indian heritage were being taken. And it was like under the rug. I don't know if this is true. I don't. This is the viewpoint of Mrs. Chatterjee and her biography. I don't – like I'm not trying to knock Norway. I don't know what happened in Norway. I'm not saying you're racist. I'm not saying you're child stealers. Nothing like that. I'm saying what I witnessed in the movie. Exactly. And this movie does not paint Norway in a good light, I will say. But to that point, this movie also is very one -sided. Obviously, it is. We're obviously going to be on the side of our protagonist, Mrs. Chatterjee. But at that same point, like I felt like they could have really dove into a lot of other aspects of it. I mean, the movie is a runtime of two and a half hours. And the most interesting parts I felt like we could have like had more of. Like the whole work that she does with the female leader when she like goes to the conference. I feel like we could have seen more of that work. We just kind of get in like a montage. I feel like the work that she – that when she has that secret meeting with the other woman about the video of your child. Like he's sad. He wants to come home. I thought we could have expanded on that. Instead, it was like a lot of, I don't know, none. It just felt very long in parts that it could have been shorter. Yeah, I agree. And looking into like I actually – since we've watched the movie, you have to delve into like what it says on the internet and what the facts are or like the facts stated. And from what I understood, there was proof of abuse by the husband and the brother -in -law against Mrs. Chatterjee. So I mean there was reasons for them to investigate. I get that. I mean I don't know why they did what they did by just taking the child and running. That seemed like really dramatic. And if that really happened, that's awful because no one wants to see their child just ripped out of their arms. I mean that's just terrible. And the stuff she went through, if all this is true, is just awful. I mean you can't look at one person because of their cultural differences and think that they're an unfit parent. I mean that'd be like me going into like say the deepest part of Africa and going to a tribe and seeing how they raise their children and being like, Oh, this is wrong. I have to take this child out of here. You know what? Because I'm the intruder. I am not part of that culture. So I can't do that. 100%. 100%. And this movie, it felt like, one of the parts that made me so mad was throughout all these court cases that she's going on, they're filming her have these hysterical breakdowns after her children get forcibly ripped from her. After she's done nothing, she's like, just give me my, like, forcibly ripped from her and then they're like, Oh, well she's mentally unstable because she's screaming and she swung at a police officer. It's like, yeah, this police officer ripped her child literally from her arms and then the other one is like restraining her. I thought that was so, I hated that. It made me feel like it was very demonizing to like, I don't know, to like women having emotions. And like you would see it like with the husband a lot too. Like obviously like in real life, he was like abusive. But like he was always trying to like silence her and be like, Hey, you need to get it together. We need to assimilate. We need to change. We need to do this. We need to do that. Whereas like she was like, but I want to raise my children with the culture that we grew up in and I want to fight for them. Whereas he was very much like all about himself and his citizenship and like making a life for him in Norway and not really like thinking about her and the kids. I believe. And they point that out too when they're like, Oh, well, you don't help with chores. And he's like, yeah, I don't help with chores. I thought that was so funny that he got so like bent out of shape about that. But I don't know. And then going back to her brother -in -law, his brother, obviously a dirtbag. But I thought that one scene between the brother and the representative, the representative of Norway was super interesting. Like that bribe scene, because I was like, OK, you're obviously going to the weakest link to bribe them, painting you in an even worse light. Yeah. But like if you're going to do that, you would go to the weakest link. You'd go to the person that you know is going to be the most easiest manipulate. I mean, they probably looked into his financials and everything were like, oh, like if we go to him, we could probably do this. I'm not saying that's what you did. No way. Trust me. I'm not trying to bash you. I'm not. I'm just saying what I think happened, like if this is how it went, then that's what I believe happened. I mean, and as a culture like the Indian culture, from what I see, and I'm not sure this is even true, is that the husband works, goes out, makes the money, and then the wife is the patriarch of the house. So she runs the house. She's like, what comes in the house is furniture, the food, the preparation of food. So I think that's, I mean, I could be wrong. I don't know. I'm not Indian. I'm just saying from what I've seen from different movies and different aspects, I feel that's the way the Indian culture is. I mean, so I could see that when that was happening, like I was like, oh, I can kind of understand that, you know, but I also understand that like he was a total jackass. He was a jackass. And in my mind, because I am inferring a lot between the lines, in my mind, like she talks about how she went to school and got her bachelor's like degree in science and how like she was educated. So in my thought, like, and then she's like, oh, and then you wanted to marry me. And I thought that, well, we're going to get back to that scene that I'm thinking about in one second. I'm going to finish my point. So when and then they get married. And then to me, it's kind of seemed like she gave up her career or her job or whatever aspiration she had to move to Norway. Because she says that she says, well, before I moved to Norway, I had a job when the other lawyers questioning her in India. And she's like, well, I had a job. And he's like, well, you don't have a job now. She's like, well, because I moved to Norway with my husband. It's like they're they're trying to set her up to not win constantly. And I feel like so. Obviously, like there is a disclaimer before this movie saying that it is dramatized and it is based on true events, but not a true depiction. And I think what we see a lot in the film is like when you're living this, I can only imagine like when you're living this, everything is so heightened and it feels so much worse than like what it could be. And it can feel like the whole world is against you. I mean, I would have loved to see more scenes of like her and the female lawyer that she had in India because it felt like they had like a really great bond. They had like a really great team if they wanted to make like, yeah, because this movie was like half like melodrama, half courtroom drama, half like family drama. It was it was kind of all over the map, which I know is like very true for real life because it was it is based on a true story. Yeah, like learning over time the history of India and like their their subterfuge of like how they were put down, like during the occupation of Britain and all they had to overcome and everything. I can kind of see how like it's it's it's a battle for for the Indian people to like get respect. And I feel like this movie showed that, like, even though she was a mother that was living her traditions and doing what she was, she wasn't respected. Like they looked at her as just like you're an Indian woman and you have no say in anything. And it was like the white women that were in charge of the children and family services seem to look down on her for for being an Indian mother. And I thought that was awful. I thought it was awful. I hated those women and I try not to hate women, but those women were the literal worst. Like when they're laughing in court and stuff and just like snickering to each other, whatever. They're the worst characters in the movie. I hate them. Another character I hate in the movie as well was the teacher who was like, oh, well, she's not involved in the kids schooling because a project was turned in late. It's like, OK, she's also like not she's like being watched every day and like she forgets one project, like cut her a break. I don't know. It felt like she was getting judged so harshly all the time. And like, I don't know. I liked when in the first appeal or second appeal, when the teacher comes and says like, hey, I like and they kind of write her off as a disgruntled employee. I liked what she had to say, because, like, she really did see her like fighting for her children, which is like I get it. Like in the court of law, there's no room for emotion because it is like the law and you have to hold the law and like whatever comes along with that. But I felt like if one person is doing like all this to get their kids back, like obviously they're mentally fit enough to like sit through like courtroom procedures and like beg and plead. But like she felt like she was not being heard until I think the final courtroom scene in India. Yeah. One part that really tore me up was when she was looking at the judge and she's like, please, please let me say something. And she's like, I'll do whatever you want. I won't feed with my hands. I won't. She's like, I just want my children. I'll do whatever you tell me. She's like, I'll be a good mom. I'll be a good mom. Just let me please have my children. And I'm like, you know, oh my God, this woman's basically saying, look, I'll do anything you want. Just give me my children back. You know, and the judge is like, yeah, no. And I'm like, what? No. I mean, just listen to what this woman's saying. She's not saying like she's saying you can watch her. She's saying you can do anything you want. Just give her the chance to be a mother. And I'm like, I'm like, just a lot of it was just very heart wrenching. I was like, oh my God, you know, as someone that doesn't have a child in their life, I was like, oh my God, I would totally do anything to get my child back in my life. So I totally understood what this woman was saying. I mean, you'll make sacrifices. You do whatever you have to do to have your child in your arms. So like, it was really emotional for me. I thought it was a really awful depiction of the government and like how the government can just do whatever they want and get away with it and do. And that is the key. And do. The government will screw you over and they will. Time and time again. And I think it shows because they talked a lot about how the more kids that they have in the foster care system, the like more money that they get. And like I get the foster care system in Norway seems broken. They say it's children first, but I don't agree with that. And then I feel like the foster system here in America is broken as well. Like, I feel like people that are foster parents don't do it for the right reasons. They do it to get the money. Like we even see like when she because I mean, and I was right. I was with her. Like you can't kidnap your own kids, but also you can't take them illegally across borders. Like I understood that. But like when you see her kidnap her kids when she tries to make it to Sweden and you see them just like in this like small dingy apartment being ignored, like she literally walks into the apartment, takes both the kids and leaves. And they don't even realize like she's able to get to Sweden. So I know a little bit about foster care because my mom and dad, they foster children. And a lot of the kids would tell me that they go to houses and that people wouldn't care about them because they were making money. All they cared about was the money they were making. And they wouldn't put the money towards the kids. They just take the money and spend it on whatever they could for themselves and neglect the children. Not all foster parents are like this. Do not quote me on this saying, oh, he said, no, I didn't. I'm saying these people told me that this is how sometimes it happens and it happens. And I can see that because money corrupts people to the ultimate measures. I mean, you want you don't want to believe in your heart that these people would do that. But money will corrupt people and they will do whatever they can to get it. And it's proven it's a proven fact of life. And we actually see that with the brother in law and the in -law family. So the brother in law and the brother, because I'm sure the brother was in on it. And that whole scene where he was like trying to convince her that he loves her and that they're like doing what's right. It felt so gross and manipulative and just like really disgusting because I was like, you don't care about anything. Like you have not tried to fight for these children once. Like all you care about is your citizenship. So the brother makes a deal with the government that if the kids go into his custody, if she never sees them, which she did not sign off on, they would get paid like 50 rupees and then the Norwegian government would get paid 50. And so then they're like swimming in all this money. And then I mean, that scene when she goes to the house and she's like, I just want to see my kids. Like, she's so excited. She like decorates her house, like, welcome home. And then she can't. Oh, my God. So sad. That scene was like really sad. And then when she goes back and then they like randomly have like a gang of people like warding her off. I was like, where did you all come from? Yeah, it was a little bit crazy. I mean, watching it, I was staring at it going, wow, you know, like. But you know what? It was their neighbors. And I see like, you know, so you got to figure they're in their neighborhood. So they're not going to depict her as like this great person. So the mother seems like someone that would be gossiping and said so I feel that she was telling them, you know, oh, she's abusive. She's this she's crazy. That's why we have these children. And so I think the neighbors not knowing came to their like their defense. We're like, oh, my God, you know, you got to get out of here because you're crazy. You're going to hurt these children. So, I mean, it's it's it's sick and it's it's just twisted. But that's I just I just see people doing this all the time. I see people turning people against other people because they can't. And it's it's power and they have the power. And if you're if you're already down and out, it's hard to get yourself out of that because like once people see you like that, they just it's like you're a victim and they just start attacking you, attacking you, attacking you. And you can't get out of it. I mean, you you fight and fight and fight. And it seems like you're fighting forever and there's never a light at the end of the tunnel. But if you don't give up and keep fighting, there is light at the end of the tunnel. And eventually she finds that light. She does find that light. And I thought the one scene with like the judge in the in when they're in the final courtroom scene in India and she and the judge is like, I want to see the kids and everyone in my chambers. And then he like like acting like the kids would actually go and like talk to him and like embrace him. I thought was so wild because his face is so shocked when they like run to her and they're all like hugging and like dancing. And then he's like, oh, maybe she is a good mom. And I don't know. I really liked I really liked the lawyer. I know that you said you didn't really like him because he came back to fight against her. But I think the government did that as a way to kind of like dig at her and dig at the case and be like. But I thought like because he was talking about being adopted, too. And I don't know, maybe he wished like someone like that, like her would fight for like him as a kid. But I think like fighting and seeing her fight for her and children like I do think he respected her and saw what she was doing and didn't believe like the slander that they were saying about her. Yeah, because there's a part in the movie where he's buying flowers for his adopted mom. I mean, he loves his adopted mom. He says it. He goes, I was adopted and I came from a great family that treated me well and did right by me. So, I mean, in his mind, the system isn't that bad, you know, so he doesn't see what she's going through. Like, I mean, he sees it, but he doesn't he never experienced it. So to him, when she's telling him all this stuff, he's like, no, it didn't happen. No, because because he went he luckily got placed into a good family and he wasn't neglected. He wasn't left to sit in a room by himself while the ladies cooking and the guys watching television, ignoring the children. So he actually came from a family that was caring and loving. And I think that's at the end and that gets to him is when he sees just how much this woman cares, how much she loves her children. And he finally embraces it and says, you know what? Yeah, I see it. And I think what was really important, too, was like he said he was like she would never trade her children for money and she would like never do this for money because they kept harping on the money. That was the motivator for the brother, the brother in law and the husband. So I thought that that was really sweet and really nice because, like like we said, money corrupts. And for her, she was uncorruptible in that sense because all she wanted was her children back. I think, too, there is a really and I think, too, there is a nice moment. And I think that if she kept losing the battle and then she gave up not saying that she ever would. But if she did, I think the final home that the kids were placed in, like where they go visit and she was like, you're a good mom, you're going to be a good mom. Like she's like comforting the adoptive mom. I thought that that was really nice. And I do feel like if the kids like maybe stayed in that home, it would have been like a good it felt like a good, like loving home. It felt like they really wanted kids, like maybe they couldn't have kids. And then they finally were able to adopt. And like, you know, there is like a good there is a good system and there is like goodness within it. Obviously, this is the horror side of it. And we do hear a lot of the worst side of it most of the time. Yeah, I thought so, too. I thought like the parents that were in that situation would have been good parents because, you know, she even says, please don't take the children for me, please. And she's like, but they're my children. She's like, you'll have children, but these are my children. I want my children. And you could see like the woman breaking down because she was getting emotionally attached to them. And, you know, sometimes there's people out there that can't have children and they have to adopt. And, you know, they are loving, caring people that want children out there. And, you know, that's the only option they have. And, you know, I think that's one of the situations that these people were in. And I felt like maybe they couldn't have children on their own and they got these two children and you could see that they love them. I mean, he had like a little automated car and stuff like they were going to be spoiled, like rotten. So, I mean, and one part I wanted to talk about was like, you know, them saying that the boy was autistic, you know, and he showed signs of autism. And it was kind of shocking to me, like the father was just like, no, no, no. And I'm like, you know, you should probably try and get these two child tested. I mean, if you love your child, then you hear that they're autistic, you know, and you're not doing anything about it. I mean, that's a reflection on them. And it was the father. The father was just such a tool. And like he has nothing to do with them right now. He has nothing to do with their lives. Like when this all ended here, he just separated himself from them. And like as a father, I could never do that. How could you do that? And I think that too goes back down to like how the husband, how like the father has been like never really cared about like her or his family. He cared about like himself and like having and like what having a family like met like status wise because he was like all about like, oh, I got this new job and I have this great position and I'm going to get citizenship and I have two kids and I like a wife that like takes care of the house. And like, I think that's like is very narcissistic. And like you can see that when he's like, when he just like abandons them. I mean, you can see when he's like actively lying in the court and then just hangs up the call. And then she when she pulls out the phone record and she's like, look at all these missed calls. I thought that was so funny. Like, obviously, like, but like, I think that speaks to his character and how he was never truly like invested in in what she was invested in and what she was invested in was like her family and the children. Oh, I 100 percent agree. I mean, there's one part when he fights the coworker, he tries to fight the coworker that got him in trouble in the first place. He doesn't fight the coworker because of like the child. He fights the coworker because of the problems the coworker caused him at work. And I was like, I was like, OK, you know, you need to get over this work thing because your children are being taken from you, you know, but he could never get over the work. He was like, you know, I worked too hard to get here. I worked too hard to get here. This is where I'm supposed to be. This can't happen. You know, and I was like, all right, listen, it's money, bro. It's it. It doesn't take the place of your children. I mean, it was for him. It clearly did. It clearly did. And like even at the end, like he wasn't even happy for like her getting their kids back. Like all he said was like, oh, I'll take care of mom and dad because like the brother is like, well, now I have no money. And he was like, OK, well, like, figure it out. Like, I'll take care of mom and dad. And I thought that was kind of sad because it showed that, like, even though like he I don't know. And then obviously it went on to make it seem like she raised the children on her own in India. But I don't know. It was it was a sad story. Obviously, if you're interested in it, watch it, do some research about it. It's on Netflix. I watched it on Netflix. The main actress did an incredible performance. I would say like this movie would not be as good if it wasn't for her because she really carried, I believe, the whole thing. Oh, I 100 percent agree. She did an amazing job doing research at the end of the movie. It says Mrs. Chatterley currently lives with her children in India. And that is not true. She lives a thousand miles away doing a job and she's about to move another 300. Her parents, her elderly parents are taking care of her children. But it's a job. So like at the end of the court proceedings, she probably did live with them and was taking care of them. But you know what? You have to work and you have to do a job. So she's out there making money, providing for her children. So, you know, props to her for doing the right thing and fighting and giving it 100 percent of her time to get her children back and not giving up. And like sitting out in front of that building for like hours at a time, waiting for them, just a glimpse of them. I mean, that was heart wrenching. Oh, my God. That was so sad. And then like when they would. OK, back to those evil blond bitches from the Norway, from Norway, when they would just like snicker and film her like, OK. She literally just told her that she could see your kids. And now last second, you're saying she can't. Like, you have to understand that you're not going about any of this in a professional or good way.
Fresh update on "india" discussed on Bloomberg Markets
"Those geopolitical issues are, to some extent, within the region, having to do with Palestinians and so on, and to some extent worldwide, in a conflict. So the movement, you saw a movement, Saudi Arabia and Iran. Whoa, that's a big deal. And now you're seeing that line up in that way with Israel. As I say, there are three things that I'm looking for, right? Do you earn They do. Do you have an environment in which there's internal vitality and people working together and so on. A lot of changes have been made in these places to make that really, I mean, it's a vibrant place. These places are talent magnets. They're competing for talent, then they're getting talent because of that environment. And are you in risk of on one side or the war or can you stay neutral because the neutral countries do better. So that's what they're benefiting on. Those countries Yeah, they're doing very well. And there will be places in the world, India sets on countries and so on, which will do very well while all this is going on. Last question, Ray. What comes next for Ray Dalio? There was speculation about going back to Bridgewater, which you've done wrong, but by the way, don't trust the media. I'll attest to that. I've been here for a long time. Are you interested in creating your own fund other than that? No, no, no, I'm not creating my own fund. Okay. I have family a office that has family and foundation funds. Okay. And I'm doing that. But what comes next? I'm at a phase in my life where it's very natural, 74 years old, and the most important thing for me is to pass along everything. Okay. To pass along some of the knowledge and principles that I've learned over a period of time, which is why I'm doing this, why I'm writing the books and so on, and to pass along the wealth and to pass along other things and pass along Bridgewater. What a joy it's been to start it out of the two bedroom apartment and 47 years later to build this extended family and these wonderful people who are very, very capable, you know them, and to have them, this next generation flourish, and be a bit of a mentor to them. What a joy that is. And so my objective is to do that. My son gave me a book by Joseph Campbell called Hero of a Thousand Faces. He says there's a life arc and there's a part in your life journey when you're, there are three phases in life. There's the first phase where you're learning and you're dependent on others. Kids, they go to school and so on. Second phase of one's life is you're working and others depend on you and you're trying to be successful. And then there's a transition to your third phase. And in that third transition, he described it and I instinctually feel it. There's this, what he called the passing of the boon. Now, what is the boon? I didn't know what the boon was. The boon is what you've acquired, that are the gifts that you've acquired over that period of time. So I'm now in that phase and I'm going to put out one more book, Economic Investment Principles, and then I'm going to be done with that phase. And so that's where I am. I'm savoring life with my family, the things I like to do, and that's where I am. Well, thank you for sharing some of the boon with us today, Ray. Thank you so much. Great to be with you. It's Ray Dalio. All right. That was Bloomberg Television's David Wessing having a fireside chat with Bridgewater's Ray Dalio. They were speaking at the Greenwich Economic Forum today. Mr. Dalio, talking about all things markets, finance, economics, geopolitics, a wide range of topics. It is Molly Smith sitting in for Matt Miller and Paul Sweeney live here in our Bloomberg Interactive Broker Studio. Let's get a reset here. We'll check in with John Tucker for a Bloomberg Business Lots of red on the screen. We can tell you that investors, among other things, digesting the unexpected rise in job openings in the month of August. The number of available positions increasing to 9 .61 billion. Yields are stretched to multi -year highs in and lows the S &P 500. They are lower. Robert Tipp at PJIM sees high yields from the Federal Reserve and the bond market as a return to something that's actually historically normal. They are looking at the data. The data is telling them that 4 is the center of the range and they need to have policy a little bit at the restricted end of the range until they get inflation down. This is the end of the financial crisis, the end of the peripheral crisis and return to a more normal level of bond yields. Right now the S &P 500 is 46 points lower at 4241 on the The index. Dow Jones Industrial Average is 307 points lower at 124. The Nasdaq 100, 191 points lower. Two -year yield up two
A highlight from Your-Weekly-Tech-Update-EP-134
"Hello everyone! Welcome to your weekly tech update, the show that explores the newest, coolest, and sometimes mind -boggling side of tech available on the interwebs. I am your host, Ray McNeil. Coming up on the program today, Google Meet video calls are getting a Zoom -like layout. Impossible Foods rolls out to nearly one thousand new grocery stores and supermarkets, and will take your mind off the world and put a smile on your face with this week's Moment of Joy. That and a whole lot more coming up on today's edition of your weekly tech update, next. Google Meet will undergo huge changes over the next few weeks as the tech giant rushes to make it a more viable alternative to Zoom. To start with, the video conferencing tool is now directly accessible from within Gmail for business and education users. Those who prefer Zoom for its gallery -like layout that can show up to 25 participants at once would probably be more excited to get another feature coming later this month. Google will roll out a new layout option that can display up to 16 participants. There's already a Chrome extension that can mimic the Zoom feature for Meet, but its official release means there's no need for a workaround anymore. The company will also enhance Meet's video quality in dim lighting and its ability to filter out background noise in the coming weeks. In addition, an upcoming feature will allow users to display a specific tab open on their Chrome browser during a call. Zoom recently enjoyed a surge in popularity due to a shelter -at -home order, but it suffered from various privacy issues that has prompted a lot of organizations. including several school districts in the U .S. to ban it outright. With these changes, Meet could become a new decent alternative to Zoom, especially since its premium features are free to use until September 30th. Disney set the streaming -only premiere date for live -action sci -fi fantasy Artemis Fowl on its Disney Plus service worldwide, hoping it gives more juice to the subscription VOD product while all of the theaters are closed. Artemis Fowl, directed by Kenneth Branagh, will be exclusively available on Disney Plus beginning on Friday, June 12th. It had originally been set for a May 29th theatrical debut. Based on the best -selling book by Irish author Ian Culfer, Artemis Fowl follows the journey of a 12 -year -old criminal mastermind as he desperately tries to save his kidnapped father. Artemis must infiltrate an ancient underground civilization of fairies and track down the Oculus, the fairies' most powerful and coveted magical device, to pay the ransom. In a statement, Branagh said that Artemis Fowl would be as proud as I am that families around the world will now be able to enjoy his first amazing screen adventures together on Disney Plus. Artemis Fowl stars newcomer Ferdia Shaw in the title role, alongside Laura Macdonald, Josh Gad, Tamara Smart, Nonso Anozzi, Josh Maguire, Nikesh Patel, and Adrian Scarborough, with Colin Farrell and Judi Dench. Branagh and Judi Hofflin are producing, with Angus Moore Gordon and Matthew Jenkins serving as executive producers. Connor McPherson and Hamish McCall wrote the screenplay. Amid the COVID -19 crisis, Disney has postponed nearly every one of its forthcoming movie releases, including Black Widow, Mulan, The New Mutants, The Eternals, Jungle Cruise, and Indiana Jones 5. The media conglomerate is betting that Artemis Fowl will draw more subscribers into Disney Plus, which surpassed 50 million paying customers worldwide in its first five months of service. That's been buoyed by its recent launch in India and eight Western European countries, along with the early release of Frozen 2 on the subscription service. In the U .S., Disney Plus is $6 .99 monthly, or $69 .99 for a one -year subscription.
Fresh "India" from Stephanie Miller
"Of some of his most prized properties, including Trump Tower, a Wall Street office golf building, courses. and The state attorney general is also seeking 250 million dollars in penalties and a ban on Trump doing business in New York. At the courthouse in Manhattan, I'm Julie Walker. This year's Nobel Prize in Physics goes to three scientists for their study of the tiny part of each that races around the center and that is fundamental to virtually everything. We get more from the piece Charles De La Desma. Electrons move around so fast that they've been out of reach of human efforts to isolate them but experts now say that by looking at the tiniest fraction of second a possible, scientists have a blurry glimpse of them and that opens up whole new sciences. The Office of U .S. Representative Henry Cuellar says the congressman was hijacked Monday night by three armed attackers but was unharmed. Cuellar's chief of staff says the three armed assailants approached Cuellar and stole his vehicle. Police were later able to recover it. An official says India has told Canada to remove 41 of its 62 diplomats in the country, ramping up a confrontation over Canadian accusations that India may have been involved in the killing of a communist leader in suburban Vancouver. This is AP News. Taiwan has issued a weather alert as a typhoon approaches and may make landfall later this week,
Monitor Show 19:00 09-24-2023 19:00
"Today, ophthalmologists can get countless hours to practice their surgical skills before operating on real patients, thanks to fundamental VR and Orbis's Metaverse training platform. Learn more at meta .com slash metaverse impact. I'm getting the data. There's lots of other data, sort of the non -government data that we look at, and I guess we'd have to rely on that more. Data that's different. Yeah. Thanks very much. The next hour of Bloomberg Daybreak Asia begins right now. The big three can emerge as winners. Hollywood studios and screenwriters are close to resolving a dispute over a contract renewal. Apple may be scaling up its India production by more than five -fold over the next five years. New Biden polling on the economy is dismal. China warning military personnel about being careful with whom they associate. Russian foreign minister to visit North Korea. I'm Ed Baxter with Global News. Arsenal and Tottenham played to a draw in the North London derby. I'm Dan Schwartzman. I'll have that story and more coming up in Bloomberg Sports.
Fresh update on "india" discussed on Woz Happening!!!!
"Like literally awful. So I, I thought that was so bad. And then when they like show a video of her closing the door and like her son being like, let me come in. And she's like, no, I'm cleaning up glass. And they're like, well, you wouldn't let your son. You closed the door on your crying son. And she's like, I was cleaning up glass. Would you want me to have him break his foot? Cut his foot? I don't know. I. Yeah, it's a it's a good movie, like I said, long. And I feel like they could have dug into some things that would made it a little bit more emotionally hitting. Obviously, it was still emotionally hitting. But there is a lot of things that they kind of glossed over that I would have liked to see expanded on. Yeah, I agree. They should have like a couple of situations they should have like got into more like you're saying the relationship between her and a lawyer. That would have been a great thing to get into because they did have like a bond. Even the first lawyer, the man, you know, when he I wanted to see what happened, what he said after they took him off the case, I wanted to be like, oh, well, what happened? Because he was really invested in it. He wanted her to get his children. And I think it shed a light on a situation in Norway that really needed to be lightened and it brought attention to it. And I thought that was great that she went she went and stood before the ambassador for India to Norway and like got their attention and made them look at it and say, look, this is what's going on. And please help your people. And the lady did. I mean, she came forward and she was like, look, you're not going to get none of our help unless you take this into consideration and you find out what's going on with Chatterjee and her children and all the Indian children. I thought that was amazing. I mean, kudos to the Indian government for that. I mean, you know, looking out for their people. I mean, I mean, you got to you got to look out for your own. You do. But see, like, again, we could have had I would have watched an hour just that like them working like to me, like, I don't know, the movie tonally was good. But I think the writing they could have focused on some things that were better than what they focused on, like what you just talked about. All right. So any final thoughts on the film? Watch it if you'd like. It's it's a watch. I definitely recommend it. If you get a chance, watch it, go into an open mind and don't just like look at it and go, oh, oh, my God. You have to do some research into it if you want to know the story and you know what really happened behind it. But it's a it's a great watch and I recommend it. Yeah. I mean, it was it was definitely fun. Very one sided. Makes you hate the Norwegian government, which like obviously like I don't know, I hate all government, I think, because they're all self-serving and not for their people. But it's a good it's a good movie. So we're going to do we got spooky season coming up, so we're going to do we doing a lot of horror as of late. So send in your spooky suggestions. The gorier, the better, the scarier, the better. Definitely. Yeah, definitely send us some fun things. We have some fun things on the docket. But Ben, you got any last thoughts? Well, wherever you get your podcast fixed, tune in to What's Happening. And we thank you all for listening to us. And it's great that we're we're getting the charts in Pakistan, Ghana, India. So we love you guys. Thank you so much. We like the international and the national recognition. And we're going to keep on doing what we do. Yes, we couldn't do this without you guys. So thank you every week for listening. Thank you for being patient with us while we live our lives. And we'll catch you next time on What's Happening.
Monitor Show 18:00 09-24-2023 18:00
"Today, ophthalmologists can get countless hours to practice their surgical skills before operating on real patients, thanks to fundamental VR and Orbis' Metaverse training platform. Learn more at meta .com slash metaverse impact. Good morning at 5 a .m. Wall Street time for the latest on markets overseas and the news you need to start your day. I'm Tom Busby. Stay with us. Top stories and global business headlines are coming up right now. The big three can emerge as winners. Hollywood studios and screenwriters are close to resolving a dispute over a contract renewal. Apple may be scaling up its India production by more than five fold over the next five years. New Biden polling on the economy is dismal. China warning military personnel about being careful with whom they associate. Russian foreign minister to visit North Korea. I'm Ed Baxter with Global News. Arsenal and Tottenham played to a draw in the North London derby. I'm Dan Schwartzman. I'll have that story and more coming up in Bloomberg Sports. That's all straight ahead on Bloomberg Daybreak Asia. On Bloomberg 1130 New York, Bloomberg 99 .1 Washington D .C., Bloomberg 106 .1 Boston, Bloomberg 960 San Francisco, Sirius XM 119 and around the world on Bloombergradio .com and via the Bloomberg Business App. Hi everybody, good morning on this Monday morning.
Fresh update on "india" discussed on WTOP 24 Hour News
"News everything you need every time you listen the wtop producers desk is wired by IBEW local 26 where electrical contractors come to grow. Good evening I'm Demetri Sotis Juan breaking news on wtop democratic congressman Henry Cuellar The AR of Texas was carjacked tonight in DC's Navy Yard neighborhood police are telling CNN that three men were involved in the carjacking that two of them were armed this happened around 930 in the area of New Jersey Avenue and K Street in southeast political also reporting on the story tonight the carjacking of the congressman says he was not injured during the incident the armed assault of the Texas Democrat comes amid concerns a about spike in carjackings in the district an effort is now underway to remove house speaker Kevin Dorothy from that position from his speakership fellow Republican Florida congressman Matt Gates has filed what's called a motion to vacate which could push out McCarthy from the resolved that the office of Speaker of the House of Representatives is hereby declared to be vacant Florida congressman Matt Gates denies he's causing chaos in Congress real chaos is when the American people have to austerity go through the that is coming if we continue to have two trillion dollar annual deficits McCarthy says he'll keep working for the American people as the drama plays out California Republican Tom McClintock defends McCarthy and worries that what Gates hopes to do could freeze the house floor immediate effect will be to paralyze the house indefinitely because no other business can be taken up until a replacement is elected on Capitol Hill Mitchell Miller earlier tonight McCarthy responded to the motion on acts formally Twitter with three words he wrote wrote bring it on and then Matt Gates responded with just did former President Trump appeared in in a New York City courtroom today for the start of his civil fraud trial the quarter billion dollar lawsuit by brought New York's Attorney General accuses Donald Trump and his company or rather companies of inflating his wealth in an effort to deceive banks insurance companies and others mr. Trump claims the trial is a political attack against him he says it took him off the campaign trail CBS News chief election and campaign correspondent Robert Costa was in the courtroom telling us just steps away from Donald Trump he joined WTOP earlier tonight with some additional details the Attorney general General and her team they're seeking 250 million dollars in damages they believe that Trump's valuations of his property over recent decades has enabled him to make a lot of money hundreds of millions of dollars and they want to recoup that in some way and him have him pay that to the state Donald Trump's legal team argues that it's made clear on the financial statements of the valuations are estimates the sentencing of one capital writer was kept secret and prosecutors are revealing why tonight Samuel Lazar pleaded guilty to charges he attacked police officers on the day of the riot he was released from federal custody last month after serving a 30 -month prison sentence a court filing reveals a reason for the unusual secrecy is Lazar cooperated with federal authorities prosecutors want to keep certain details of what he said under wraps it is rare for records of a guilty plea and sentence to be sealed even in cases involving a defendant's cooperation earlier because of the charges against him a magistrate ruled Lazar's trial release would pose a threat to public safety ed donahue washington a lower court ruling that attorney john eastman and former president trump likely committed a crime by trying to keep congress from certifying president biden's 2020 election victory will stand for now the supreme court denied eastman's efforts to throw out the ruling justice clarence thomas recused himself in the courts consideration justice thomas deviated from his usual practice of not recusing himself from cases before the court in which he may have a conflict of interest we saw all that indirectly when we realize that he had participated in a decision in which his friend and patron the same billionaire who took him on lavish vacations had a stake in the outcome and justice thomas has not withdrawn from cases involving the 2020 election even though his wife is a republican operative cbs yes news legal analyst dane rosenbaum in the high court's new term which started just today justices are a major case involving gun rights cnn supreme court correspondent ariana de vogue says this case is linked to supreme the court's ruling last year on concealed carry permits she joined us here on wtop since that opinion came down courts across the country have looked new at all these gun regulations and now at one court struck down a federal law that makes a crime for someone with a inning order related to domestic violence to own a firearm now the justices are going to have to take up that case and they're going to have to revisit their big case uh... from last year it's a big gun rights case de vogue says the high court will also hear cases on the power of federal agencies social media regulation republican and drawn electoral districts straight ahead on wtop have been you been to a car lot lately a lot of your neighbors seem to be car shopping taylor swift fans are even affecting sports bets now on her rumored boyfriend travis more more more hi little bob here from bob's discount furniture here to let you know that we're opening a brand brand new store in manassas located at the sunday town plaza bringing even more of bob's discount to the people of india on living
A highlight from 677:FTXs $157M Suit, MiCAs EU Impact, and Senates Crypto Gridlock
"Why do tacos get their own day of the week? Is it because Mondays are so rough we need a Tuesday filled with beefy tortillas shared with good friends? If so, why don't we have Wellington Wednesdays stroganoff Saturdays and, heck, beefball Mondays? Then Mondays would just be another reason to enjoy our favorite beef with our favorite people. Together we bring more. Beef. It's what's for dinner. Funded by beef farmers and ranchers. Good evening and welcome to the Crypto Overnighter. I'm Nick Ademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10 pm pacific on Friday, September 22nd, 2023. Welcome back to the Crypto Overnighter, where we have no sponsors, no hidden agendas, and no BS. But we do have the news, so let's talk about that. Tonight we're diving into the labyrinth of legal battles, regulatory walls, and the global maneuvers that are reshaping the crypto landscape. From FTX's massive lawsuit, to Binance's European jitters, and from the Senate's stalemate on crypto legislation, to India's tightening grip, things are heating up. Buckle up, you don't want to miss this one. FTX is suing former employees of its Hong Kong affiliate, Salamata, for a staggering 157 .3 million dollars. The lawsuit makes allegations against Michael Burgess, Matthew Burgess, and their mother Leslie Burgess, Kevin Nguyen, and Darren Wong, along with two companies they controlled. The suit says the defendants fraudulently withdrew assets leading up to FTX's bankruptcy. This 90 -day period before the bankruptcy filing is known as the preference period. During this time, these individuals allegedly exploited their connections to FTX personnel to prioritize their withdrawals over other customers. But wait, there's more. The lawsuit also claims that Matthew Burgess enlisted other FTX employees to expedite certain pending withdrawal requests. These withdrawals were made just hours after FTX halted all withdrawals on November 8, 2022. More than 123 million dollars of the total 157 .3 million dollars were withdrawn on or after November 7th. Now let's talk about the man at the center of this all, Sam Beckman -Free. Now he's currently in jail awaiting trial. His appeals to get out of jail have been rejected, and so he remains in jail as his trial approaches. What happened is the U .S. Court of Appeals for the Second Court also ruled against SBF. They found no merit in his arguments for release. The court stated that his actions likely fall outside constitutional protection. The court ruled that he likely tampered with witnesses, a claim that he denies. His trial starts on October 3rd where he faces fraud and conspiracy charges. This lawsuit isn't the first time FTX has tried to reclaim payments. They've targeted Beckman -Free, his executives, they've even gone after his parents looking for company funds. But that's not all. His day got a lot worse when Judge Lewis Kaplan blocked all of SBF's proposed expert witnesses. The defense had a lineup of seven individuals from various fields. The Department of Justice objected and the judge sided with them. The defense can't try again, but they're in a tight spot. If convicted, SBF could face over 100 years in prison. Now if you think FTX's legal woes are a storm, brace yourself. We're venturing into the choppy waters of Binance and the EU's regulatory typhoon. Smash that like button and follow us for more analysis. Now let's dive in.
Fresh "India" from Bloomberg Daybreak Asia
"This is a Bloomberg Business Flash. I'm Bonnie Quinn and I'm at your studio in New York City 21 minutes past the hour now we check markets all day long at Bloomberg and of course a couple of markets still on holiday China just going into Golden Week and Korea on holiday as well so markets are closed we do see trading resume though in Hong Kong and India and of course the market is trading in Tokyo the about 1 .2 % now energy as a group down 4 .2 % in Japan right now financials down about one and three quarters percent but really all but one of the major groups are lower at this point the end also trading close to 150 we're at 149 81 right now unchanged just in the last few minutes but obviously a major move with the dollar index now above 107 so the dollar index continuing to climb Australia bonds falling before the RBA meeting we should get that in about three hours and ten minutes the ten -year yield in Australia now at 4 .59 % the Reserve Bank of Australia is expected to hold rates for a fourth straight meeting so that would be a cash rate a 4 .1
A highlight from Could Oil and a Gov't Shutdown Screw Up Powell's Plans?
"Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys? It is Friday, September 22nd, and today we are talking oil, macro, everything that could throw the economy off. But before we get to that, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link at the show notes or go to bit .ly slash breakdown pod. All right, friends, well, we are sort of continuing the macro story today that we picked up around Powell and the FOMC this week. And one of the questions that Powell was asked was about risks that threatened to knock the economy off course. Two that he mentioned that we're going to spend a little time on today include oil prices and a potential government shutdown. Let's start with oil first. The price of crude oil has steadily increased over the past four months. From a low of around $70 in June, oil reached almost $90 a barrel for the US -based WTI benchmark contract and $95 per barrel and $95 per barrel for international Brent crude earlier this week. The price increase for crude has driven US gas prices back above $3 .80 per gallon, the highest level since last October. Overall, gas prices have ramped up by 20 % since the beginning of the year, according to AAA. Now, there are a number of factors all contributing to steadily increasing oil prices since the June lows. The first is OPEC+. The economic group of oil producing nations led by Saudi Arabia and Russia have recently curbed output. Production cuts, which were agreed to late last year, have been gradually implemented over the past six months. In July, Saudi Arabia voluntarily cut an additional 1 million barrels per day from its production quota, about 10 % of its previous output. Existing production cuts across OPEC have already been extended into next year and analysts expect Saudi Arabia to extend their voluntary cuts until March. On Thursday, Russia further constrained supply by banning the export of diesel and petrol. Russia is one of the world's largest suppliers of diesel alongside their status as producing around 12 % of the global supply of crude oil. The International Energy Agency said last year that Russian refineries produce, quote, roughly double the diesel needed to satisfy domestic demand and typically export half their annual production. Analyst opinions focused on the simplest explanation for the ban, retaliation for sanctions. Henning Gloestien of the Eurasia Group said, Russia wants to inflict pain on Europe and the U .S. and it looks like they're now repeating the playbook from gas and the oil market ahead of the winter months. They're showing that they're not finished using their power over energy markets. The Kremlin said the ban was temporary and aimed at addressing rising energy prices in domestic markets. However, they gave no timeline on when the ban might be lifted. U .S. and European policymakers have largely banned the importation of Russian refined fuel since February, which has required Russian supply to be routed through third party regions including Turkey, North Africa and Latin America. Now, OPEC cuts over the past year were predicated on a weakening demand profile heading into this year. At the time they were announced, recessions were expected across Europe and the U .S. China was an open question with the potential of reopening pushed back in the midst of additional pandemic waves. But since then, the European economy is sputtering along, albeit with dismal manufacturing data out of Germany. The sanctioning of Russian supply has caused European demand to be displaced to other regions with refining capacity, largely India and the Middle East. In the U .S., recession has been continuously pushed off into the future and oil demand is now back at all time highs with no signs of slowing. Although the Chinese economy has hit some turbulence recently, oil demand remains robust. Analysts expect China's oil demand to remain high as Beijing secures strategically important resources. What's more, analysts expect China's oil demand to remain high as Beijing secures strategically important resources in part to mitigate geopolitical risks as well as to shore up its manufacturing and transportation industries. So with oil prices spiking, many are wondering whether the White House will once again intervene in markets using the Strategic Petroleum Reserve. Between November 2021 and September of last year, the White House authorized a number of SPR releases. The final policy saw one million barrels per day provided into the market over six months. A small amount of oil was restocked earlier this year, but the SPR still sits at a little over half its pre -pandemic level. Earlier this week, a headline circulated proclaiming that quote, Biden says depleting SPR is on the table. This was later found to be a hoax with no legitimate source, but it demonstrates how difficult high oil prices could be for the U .S. economy heading into election season. To wit, many saw the SPR release as a political decision rather than an economic decision heading into the 2022 midterms. In the private sector, U .S. oil inventories have recently hit 40 -year lows of 46 -day supply, well below the longer -term average of 65 days. And while August's inflation reports already showed a small uptick due to oil -related prices, the effect is expected to be more profound across this month. Dario Perkins, an economist at T .S. Lombard said, That said, it is important to keep these recent inflationary developments in context. We are not yet in danger of undoing 12 months of solid disinflationary progress, not even close. Others suggested that high oil prices would have a greater impact on growth rather than inflation. Maya Bhandari, head of multi -asset at BNP Paribas Asset Management said, It really impacts the growth side of the Goldilocks equation rather than the inflation side of things over the long term. Theory is that sustained high oil prices begin to eat into disposable income for households alongside higher costs of production for manufacturing and logistics. These combine to reduce growth and potentially tip the economy into recession. Overall, this situation in the oil markets has, to some, many parallels to the liquid natural gas spike in the winter of 2022. Prices in some markets rose more than tenfold, European energy companies scrambled to secure supply at any cost, and multiple firms went bankrupt due to the volatility in markets. This week, Bloomberg reported that the trading arm of French supplier Total Energies has played a major role in bidding up the price of U .S.-based oil. Their source claimed that the firm is paying a premium for physical U .S. barrels, pushing the spread against futures to levels not seen since last November. With all of that said, there are some signs that the oil market is beginning to cool off. On Thursday, Brent crude futures fell to $92 per barrel, which represented the third straight day of price declines, which is the longest streak in almost a month. Warren Patterson, head of Commodity Strategy at ING, said the Fed's hawkish messaging has quote, put some pressure on risk assets, including oil. The dollar index has risen by 0 .8 % since Chair Powell left the podium, a large enough move to weigh on asset markets. Patterson said he still expects Brent crude to move above the $100 mark in the near term, but that he doesn't anticipate the move will be sustainable. So that is the view on oil overall. The thing that I am definitely going to be watching more than anything else is the political dimension of this. We are now entering the period where everything, even more than usual, is going to be completely wrapped up in what it means for the election season. If prices at the pump keep trending up, it seems very likely that the Biden administration will be willing to do what it takes, including SPR releases, to get those prices down. But that's just something we're going to have to keep an eye on. Now what about that other factor that Powell mentioned? Well yes, indeed, my friends, the US government is once again hurtling towards a shutdown after efforts to pass a short term spending bill were scuttled on the House floor on Thursday. House Speaker Kevin McCarthy attempted to marshal Republicans to vote through a package to keep the government funded past the end of September. Closed door negotiations continued late into Wednesday night, but were apparently unconvincing. The bill currently being considered is the $886 billion Defense Appropriations Act. The bill was stifled in the House after five GOP representatives refused to allow debate to begin by voting against a preliminary procedural rule. Democrats also voted against the measure and appeared to taunt Republicans apparently reveling in seeing the GOP's slim majority descend into chaos. Among the Republican dissenters was Marjorie Taylor Greene, who opposed the inclusion of $300 million in funding to the Ukrainian war effort. On Thursday, Politico reported that Pentagon sources have said Ukrainian operations have been exempted from any shutdown, making that part of the dispute rather moot. McCarthy sent House members home on Thursday night to return to Washington on Tuesday. He told reporters after the failed vote, quote, two people flipped, so I got to figure out how to fix that. That wasn't the impression they had given us. Now, this was McCarthy's third attempt at bringing the bill to the House floor. The current proposal on the table is a 31 -day stopgap funding mechanism to forestall a shutdown to begin next weekend. McCarthy remarked on the change in tone in Congress among that extreme element of the Republican Party, stating that, quote, this is a whole new concept of individuals that just want to burn the whole place down. Now, even if a 31 -day stopgap is passed in the House, it seems unlikely to make its way through the Democrat -controlled Senate. The bill includes a 30 percent temporary cut to domestic agencies and immigration law changes, neither of which are likely to get the seal of approval from Dems. Senate Majority Leader Chuck Schumer said instead of decreasing the chance of a shutdown, Speaker McCarthy is actually increasing it by wasting time on extremist proposals that cannot become law in the Senate. House Democrat leader Hakeem Jeffries remarked that the situation was playing out as a, quote, Republican civil war. Now, if it comes to pass, this would be the 11th government shutdown since 1980. The logic is that hard -line positions that don't enjoy support in the Congress can be put directly to the American people by shutting down the government and drawing attention to the impasse. Republican Ralph Norman said last week that, quote, we're going to have a shutdown. We believe in what we're doing. The jury will be the country. Still, the record on government shutdowns doesn't really support that strategy. Not one of the 10 previous shutdowns resulted in the dissenting group extracting concessions. Typically, the American people quickly turn on the party they view as blocking access to government services over a petty squabble. Alex Conant, a Republican strategist, said, This is such a dumb fight because there's no principle that we're standing on here. It's just bad tactics. While the dispute is nominally over excessive government spending, with Republican dissenters pushing for funding to be reduced back to 2022 levels, the underlying problem is, of course, the level of discord within the Republican Party. McCarthy was voted in as House Speaker after a record 15 attempts. The process took four days and frequently descended into a farce. This was only the second time in the post -Civil War era that a House Speaker had failed to be elected on the first attempt. Conant noted the terrible optics of a government shutdown of the Republicans' own making heading into election season, stating that, quote, Biden didn't win because of his political skills and soaring oratory. He won because Republicans blew themselves up with Trump. I'm afraid we're seeing history repeat itself, with the GOP once again helping Biden by shooting themselves in the foot. Of course, never one to shy away from controversy, Trump fanned the flames on Wednesday, posting that, quote, Republicans in Congress can and must defund all aspects of Crooked Joe Biden's weaponized government that refuses to close the border and treats half the country as enemies of the state. He added that, quote, This is also the last chance to defund these political prosecutions against me and other patriots. They failed on the debt limit they must not fail now. Use the power of the person to defend the country. Now, zooming out and trying to get away from the politics of the situation, which obviously is not the focus of this show. The reason that this was brought up at last week's FOMC press conference is that a government shutdown would halt the publication of government data. This would include employment, inflation and growth statistics, which are currently playing a key role in guiding Fed policy. Now, given how much the Fed has said over and over again, their policy is going to be driven by data, presumably not having access to that data would be a fairly big deal. Yet in spite of that, Powell tried to put on a brave face, saying, If there is a government shutdown and it lasts through the next meeting, then it's possible we wouldn't be getting some of the data that we would ordinarily get and we would just have to deal with that. Now, by way of some history, the longest ever government shutdown lasted 35 days. The dispute was around funding for the border wall and quickly turned public sentiment against the Trump administration. Republicans controlled both the House and the Senate, but the administration failed to convince their own party to fund the wall. At the time, Democrat Senator Jon Tester called it the most stupid shutdown I have ever seen in my life. However, if this week's display is anything to go by, that 2019 shutdown could soon have some competition for that title. Now, what does this all have to do with the crypto sphere? Well, I think in many ways these are just exemplary of the state of politics in general. And given that, perhaps it's not surprising that former Senator Pat Toomey is not optimistic about the chances of crypto legislation being passed during this Congress. Just prior to retiring from Congress at the beginning of the year, Toomey introduced his own crypto bill, which focused on stablecoin regulations. Now, the House currently has two major crypto bills eligible to be brought for a vote. One would establish a stablecoin framework while the other introduces more broad crypto regulations. While speaking at a Georgetown Law Seminar on Thursday, however, Toomey said, I don't see a path forward in the Senate regardless of how the vote goes in the House. He added that of the two, he sees the stablecoin legislation as having the best shot. The sticking point will likely be Senate Banking Committee Chairman Sherrod Brown. While Brown has been outspoken about the risks of crypto and the need to bring the industry to heel, he has so far remained extremely quiet on exactly what form of legislation would meet his approval. And of course, any crypto legislation would need the support of Democratic senators to pass a vote to become law. Still, during an interview on Thursday, Coinbase Chief Policy Officer Faryar Shirzad said that she thinks that Brown's lack of commitment to a legislative position might actually be a good thing. Shirzad said, Now, last week, Brown wrote a letter to head regulators at multiple agencies urging them to use their existing powers to crack down on non -compliant crypto firms. This of course seems to be the clear intention, at least at the SEC. On Tuesday, the head of that agency's crypto assets and cyber unit, David Hirsch, warned that more enforcement actions would be coming against crypto intermediaries, including DeFi protocols. Still, Toomey, who serves now as an advisor to Coinbase, views stablecoin legislation as the solvable problem. At the moment, Democrats are pushing for the Fed to serve a central role in regulating issuers rather than granting oversight power to state regulators. This preference is believed to be driven by the White House. Toomey said, He thinks that senior Democrats will get on board once the White House is satisfied with the stablecoin proposal. Although that proposal might have to wait until after the election, as Toomey said in the next Congress, I think it's quite possible to get something done.
A highlight from Swan Private Macro Friday with Steven Lubka, Sam Callahan, John Haar, and Terrence Yang - September 22nd, 2023
"Hello, and welcome to the Cafe Bitcoin Podcast brought to you by Swan Bitcoin, the best way to buy and learn about Bitcoin. I'm your host, Alex Danson, and we're excited to announce that we're bringing the Cafe Bitcoin Conversations Twitter Spaces to you on this show, the Cafe Bitcoin Podcast, Monday through Friday every week. Join us as we speak to guests like Michael Saylor, Len Alden, Corey Clifston, Greg Foss, Tomer Strohle, and many others in the Bitcoin space. Also, be sure to hit that subscribe button. Make sure you get notifications when we launch a new episode. You can join us live on Twitter Spaces Monday through Friday, starting at 7 a .m. Pacific and 10 a .m. Eastern every morning to become part of the conversation yourself. Thanks again. We look forward to bringing you the best Bitcoin content daily here on the Cafe Bitcoin Podcast. This is like a rabbit hole, but, you know, posture is a very interesting topic because there's lots of studies out there that show that actually fixing posture doesn't do absolutely anything to preventing pain. So you could say posture is a shitcoin. The best way to fix your posture, I think, is just sell your chair. So, Sam, I've been doing a muscle activation technique, which is basically a realignment of your nervous system, I guess, so you have a bunch of different muscles that help your joints to mobilize your joints, and oftentimes we get micro injuries and some of these slow twitch deep muscles stop working and then your body compensates, of course, by utilizing other muscles around that muscle group or within that muscle group to compensate, and sometimes those muscles start refiring again and sometimes they don't. And so I've been doing this thing called muscle activation technique, and my posture has actually improved because this technician has gone through and ensured that all of these muscles that are around these joints for mobility and range of motion are activated. And I feel I actually it's almost like magic. It's just really weird thing because you don't really you can't really tell what's going on because you don't really feel a lot of these muscles individually. But after doing this for about 10 sessions now, I feel better physically than I have in a long time. My posture is better. It feels like my body is working in much better than it has in the past. And it's really been it's really and he and he actually and people have noticed my posture getting better. And it's just a really it's it's probably the best health care money because he doesn't take insurance or anything. It's probably the best health care money I have spent in the last 20 years. Wow, that's quite an endorsement. Well, that's great. Happy it's up for you. Muscle activation techniques. What's up, Terrence, Dom, good morning. Yeah, I've been working on my posture, too. I look back at like old bull market charts, Bitcoin, and then in my posture, I like puff up and my everything kind of comes much better. I just have to go on internal team videos, watch my great colleagues, Steven Lubka and put them. Sometimes they look the same to me because they have the exact same posture and they're the same height. But yes, that's always a good reminder to improve my posture. That is true, as you learn about Bitcoin and you stop watching every single five minute candle staring at the chart and just stop worrying and go outside and start learning about other things, start learning about the network, reading books, the posture improves. So there's a little benefit there. Dom, yeah, I saw you make an announcement about the proof of workforce. Congratulations. Pretty cool. You want to tell us a little bit about it? Yeah, thanks, Sam. I got a little background noise because I'm on the big red. But yeah, really awesome to get that thing up and going. We put it, we tweeted out our board, which is, in my opinion, an unbelievable board of directors, including, I see in the audience, the one, the only Joe Carlasari. So I got mad BJ Dictor sound effects. I got my BJ Dictor sound effects loaded up right now. So, yeah, no, just doing great stuff, doing some great work, really excited for it and excited to talk more about it at Pacific and connect with anyone who's looking to bring Bitcoin to workers and unions and other membership based organizations. So really cool stuff. And yeah, man, super pumped. Yeah, I think it's a super cool nonprofit just working for, to educate people about Bitcoin, these unions, these pensions. Congrats on getting that off the ground. I think it's a really important effort for the next bull market to kind of start protecting workers and their future retirement. So with Bitcoin. Yeah, it's a tough group to crack sometimes. And it really helps, you know, was thinking about like, what's the best model and the nonprofit model being able to come in with no product? No, like, hey, sign up here. Like, hey, here's the cards on the table. We want to help you figure out how this works with your organization, whether that's just education, whether it's adding Bitcoin to the balance sheet, you know, enabling lightning payments for your members, you know, whatever that is, we just want to provide the tools and then let them kind of find their way on their own. Yeah, probably use the Nakamoto portfolio. That's a great tool right there. It's going to help a lot. Check it out. Nakamoto portfolio dot com. Play around with those tools. Extremely powerful. Yeah, that's a great tool for sure. Kind of pivoting a little bit, but like. Did you guys see that video of the guy getting his engagement ring back on like a reality TV show and then saying, you know, oh, that's a Bitcoin. That was hilarious. I could play it for you if you want. Yeah, why don't you play it? Vanderpump rules, right? You're still wearing your engagement ring, huh? Yeah. Yeah. I'm I'm going to give it back to him. Do you want to know? I mean. Don't give it back. No, I'm not going to keep it right here. Thank you. That's a Bitcoin. I love that so much. It's like every Bitcoiner thinks that you start like pricing in everything in Bitcoin. It really does become your unit of count in your head. Once you give the girl the ring, don't take it back. Yeah, you're going to want to make sure you're. You're positive on that one. Another reason not to put data on the base layer, right, like marriage certificates. I kind of think the days of expensive engagement rings and expensive weddings are going to end fairly soon with housing affordability at all time lows and so forth or in all time lows for at least for decades. You mean because diamonds are a shit coin and they dump them in the in the ocean off of the coast of South Africa? Yeah, basically, I think it's already the demand is already down, but it needs to kind of die a permanent death. I think the greatest marketing campaign ever. Yeah, diamonds are a rabbit hole. Like I'm going down that rabbit hole, the De Beers company and how they control a monopoly on the entire supply. And it was a huge marketing campaign. And there's no scarcity there. Girls aren't going to want to hear that, but only it's only for certain only for certain sizing and color. But yeah, then there's like these lab diamonds, right, that you can't even tell the difference now that are better. Yeah, I'm not going to get one of those, but they're shit coins. There's no scarcity to them. And they're wow. Really, Sam? It's progressed that far. You're already thinking about a ring. Congratulations. You heard it here first on Cafe People. I wouldn't go that far, Peter, right? But if I was, there's no way I'm going to get her a lab diamond. I saw this video of somebody like in the front row of an NBA game. And I guess there's like a gun that you could check rings to see if they're lab grown or they're regular. And they were going down looking at the big rocks of these celebrities. And this guy, his wife's ring, and then it shines red that it's a lab diamond. And she just gets so pissed off and throws it at him and runs out of the game. Whoops. Rug pull. Rug pull. Or that gun was inaccurate. Because again, you're like trusting the third party source. That's the whole point of bringing it back to Bitcoin. But that's the whole point of Bitcoin is you can self verify that you got real Bitcoin from whoever sent you Bitcoin because you're running your own node. Whereas with whether it's gold or diamond, like the Chinese got swindled for billions of dollars. I think of fake gold bars that were actually tung sun and just gold plated. I like how quickly you think on your feet, Terence, but I don't think she's going to buy it. Yeah. Terence is like, oh, did you think about the gun? It was the gun, bitch. It was the gun. Oh, my God. Hey, guys. So a friend of mine, actually, this is timely. A friend of mine just bought a lab grown diamond and he paid 1500 euros for it. It was 3 .07 carats. And a traditional diamond would have cost about 50 grand. So it's completely destroyed the price of diamonds, man. That's insane. Yeah. Over three carats. And it's chemically, he showed me the certificate is chemically identical. It's still got slight flaws in it, but they literally just they're basically just printing diamonds now. Right. So they've become dollars. I thought it was funny. That's hilarious. The stock to flow is going down for diamonds. Anyway, his wife, she's delighted. She's got a $50 ,000 diamond around her neck. Does she? Got to get one of those guns around here. So check out, check them all. Yeah, I'm intrigued about that gun because what he was saying to me was that he said chemically, they're identical. So I'm not sure what the gun's doing to identify it being a... They find the flaw, right? Because natural diamonds have flaws. So if it's natural, there's going to be a flaw. It's inevitable. You can't see it, but you can see it under like a magnifying glass or whatever. Well, I saw the certificate of this lab grown diamond and it had flaws in it as well. Oh, wow. Yeah, they artificially create the... Yeah, Chris, did you verify that there was a flaw? That's a valid point. I mean, I did trust. I didn't verify. So I stand called out. Yeah, a lot of Bitcoiners are pretty hesitant to separate with their sats. But I think a white is a good investment. That's when you know you got a keeper. Like I was going to buy you a diamond ring, babe, but instead I stacked into cold storage for us. For us. Sam, you might have something there. A ring that's a self -custody hard wallet. You might be something there, dude. I'm actually seeing... I remember in 2017, I saw rings and watches with like little tiny QR codes in them. I don't know if it's a good idea to have a lot of your Bitcoin on a ring or I saw another person with one in a necklace. So there are like things like that. It's not great security. It reminds me of how like in India and stuff, they wear their gold. You know, they keep it around their neck and wrists just because it's the safest place to be. I mean, I guess if it's just a receiving address, you know, I mean, somebody could hold me down and track it down and figure out and whatever. But I mean, you know, that could be your diamond ring. You know, instead of the diamond up there at the crown, throw a QR code up there. Just be like, babe, you're going to be stacking. We're going to stack for the rest of our lives together now. We're going on a stacking journey together. How do you carry across the border more than $10 ,000 in value without having to report it? You wear it. Or Bitcoin. I have friends who move tens of millions of dollars or millions of dollars of their net worth, like 90, I don't know, 98 % plus of their total net worth to leave China, leave South Africa, come to the U .S. and never go back. And at the time, at least, they were too dumb to stop them or even question them. We just left, one -way ticket. Yeah, the fact that Bitcoin is digital and that anybody can escape like an authoritarian regime or war with some of their wealth, you know, that's when you think about like the ESG narrative and even like KPMG report talked about the S and how that characteristic of Bitcoin really helped people in really tough situations and think about how else they would do that and kind of realize that like Bitcoin is a solution there to a problem. And BlackRock and State Street are closing up ESG funds as we speak, which is, I think, a positive development. Yeah, I kind of reject that entire framing. I think it's led to a lot of misallocation of capital and kind of influencing boardrooms about how they invest their capital kind of impeding free markets. Yeah, ESG is a control scheme. I mean, we've seen that, but what are you talking about about BlackRock shutting down ESG funds? I don't know about that. Yeah, BlackRock and State Street have just been closing ESG funds in 2023, kind of shutting them up. And that's a reversal of the trend over the last couple of years. And BlackRock, Larry Fink, I mean, in the early 2010s kind of spearheaded a lot of these efforts, really gung ho about ESG. The last couple of years, they've seen a ton of pushback. And now we're kind of seeing them close up ESG funds. And I feel like we're seeing a shift in sentiment around the entire movement because I think people are realizing that like, A, some of these goals are completely untenable. And then secondly, you're hurting the poorest countries amongst us, like the developing nations, by preventing them from accessing cheap energy sources. And you're really making us weaker and less resilient by shutting down oil, gas, and fossil fuels. And so you're seeing a ton of pushback on it. And so BlackRock and State Street are starting to shut down ESG funds. It's just kind of like a flag post in my mind of this ESG narrative that was so, so strong the last decade. I don't know if anyone else has opinions there, but... Yeah, the only thing I have to say is I feel like Larry Fink kind of jumped on the bandwagon somewhat later after the ESG narrative got a lot of traction. Then he kind of added fuel to the fire, which is a huge name and was very outspoken. My point is he's added fuel to the fire. He didn't start the fire, but he kind of... So he's a politician ultimately, right? Like he's very political, even though he knows finance. To a manage massive fund that manages, I don't know, $9 .6 trillion or whatever, you have to be political and you have to read the tea leaf, so to speak. And yeah, react to the times. I think the exception would be somebody like Vanguard that might do a lot less in terms of ESG or jumping on the latest trendy whatever, because they're so focused on index funds and they're member -owned. This was not an ad for Vanguard, but... I just remember Larry Fink writing... And I just remember it made a lot of waves and kind of definitely added fuel to the fire, like I said, Terrence. So they shut down two dozen ESG funds this year, just to give some stats there. Yeah, I wish I could say like, you know, oh, maybe they really are being orange -filled and whatever, whatever. But it's probably like you said before, I mean, like ESG stuff, it's untenable over time and you get to a point, it probably just isn't profitable. I don't know than any of this, any of what I'm talking about, but just I'm just going off a gut, like the ESG stuff is unprofitable because the economics don't work. We've talked about that. You can look at the windmills and the solar panels as perfect examples of that. But I mean, just the overall thing, there's a good book, I've talked about it before, called The Prize. And it talks about the control of energy on the planet and how there are groups that seek to control other groups through the narrative of controlling what type of energy you're using, what is acceptable energy use, all of this stuff. But in the end, if you're going to try to make like, you know, bets and gambles off of this stuff, like you're going to have to pull your rug early because it's not, at some point, the economics don't work. Well, not to mention too, you know, it's the trend of like having an ESG report for a company. I want to see some of these companies that are like, you know, Nike's ESG report, which I don't know the details, you know, but you know, there's some low wage labor being done. And then, you know, you got this shiny ESG report that's like, you know, sustainability, we've done this and ethically, we've done this. And also, you know, behind the curtain, we've got this going on too. Yeah, I mean, it trickles all the way down, even now, like in web design, web development, like if you want your website to rank well on Google and whatever, then, you know, you have to build your site, you have to have that in your mind while you're building your site. You have to make sure that it's going to be well received by Googlebot and, you know, all these other stuff. And one of the things that they've been pushing is how ESG friendly is your website? Like your, the processes that it runs and, you know, are you doing it correctly and coding it correct? There's more than one way to code. And, you know, it's like, man, okay, I understand the idea, like, make your website work more efficiently. Like, of course, duh, like, that's what we're doing. But Google of all people to tell me about energy use of a web platform? Come on. Yeah, Chrome is pretty bad. Yeah, go ahead. I was orange peeling and no, I was I was just like at insurance, kind of talking to them about Bitcoin. And it was a bunch of claims professionals and lawyers. They were very like, you know, obviously, these are like super risk adverse cohort of investors. And so we were there just like talking Bitcoin as like the weird Bitcoiners at this conference. But I found out that 90 % of them take into account ESG when they're thinking about investments today. And that's in the most recent Goldman survey. So 90 % of insurers consider ESG when making capital allocations today. And at the same time, their number one worry in that survey was inflation. And so it's one of those things where I don't want to give credence to the framework. But it's so ingrained in some of these like traditional capital allocators minds that maybe just by playing into it and saying like, well, here's how Bitcoin is actually, you know, quote unquote, ESG and just kind of like Trojan horse in it through their their silly framework is the strategy that I took. And it kind of kind of went well. I kind of like said, like, although I reject this entire framing, here's why Bitcoin actually kind of achieves your goals. That's kind of the tactic that I took.
A highlight from S13 E10: City of London & Equal Opportunities Discussion
"Alright alright yeah they might join us well hopefully yes that'd be good yep so I'm ready when you are alright let's go okay so I've been looking at lighters and cigars lately oh yeah mainly the point lighters and yeah the point lighters st. the point the point later it's just been curious might be something I might want to do I might want to collect lighters for some weird reason I think it might be cool don't like the smoke I don't really have anything to celebrate so maybe not smoke them but it might be good to try one at least once yeah sweet I'm hoping that Faith be joins come on ask her what's her why she it's on your teeth yeah that'd be interesting I mean I on one hand I can understand where she's coming from with what's being said about him but on the other hand I think it's important to do research because you never know unless you understand the full context not not to say everyone doesn't understand but you never know if you'd be lied to what if what we see right now is just an illusion true make to believe what we want to believe then you can live in your own fantasy land yes and a matter how hard you tried to be red -pilled you're always gonna get blue pill out of nowhere yep you gotta have a sharp mind yes yes I don't get why she thinks that men thinks she was much who I don't get what she was talking about earlier well and get understand that she doesn't want men to take over but the country of the world was built by men it was built by it every major corporation was built by a man or the vast majority of them I'll give them that I'll give the there have been some very famous male sign to female scientists Madden Curry Mary not to mention I will give them the fact that they a woman did help create the atomic bomb well I did help Einstein create the atomic bomb basically finished the Manhattan Project so they did help build that I'm not saying they can't become the biggest richest man the richest person in the world but I don't think it's gonna happen anytime this century I could be wrong I think it takes determination for women to show that they could do whatever man can it's just that that little amount of determination that there is representation on their behalf they need they need they need there needs to be something that's shown that it is possible regardless of gender religion sexuality at most whatever people group whatever people group there is a chance that you can make it I am gonna say this not all women were Putin present not all women were given their position because they're a talent a vast majority of them and this is sad to say but it kind of means women success but which is true happenstance is the fact a vast majority of these women they were put in positions that they had no business being put into didn't have the skills enough talent they were just put in there because it what's fp they want to say oh we hired a first female VP yeah oh bug off this also experience was her background exactly they don't know it they do what they do it's just ridiculous I know there are people I'm not saying all women are all women were put in this position like this I'm sure there's some ones are very qualified for the jobs and they were put given this corrosion given these opportunities but you've got a quick question of a lot of them were they truly given this jokes of our talents or they just get promoted for worship for virtue like the GM CEO Mary Barra she's unqualified unfit and quite honestly I'm surprised she hasn't been sucked and she's gonna be one of the main reasons why General Motors probably goes under that's just one not to mention I think that will be there I personally believe the future of American companies are all being run by Indian India like so basically yeah Google Indian feel Microsoft Indian there's probably offers swells is there so uh have you heard the news what news up Obama might be gay well I already know that I'm talking about another thing what's over news okay you see no there's this new immigration rule for the UK what's the immigration law so basically in short even if you're a foreigner where you're allowed to enter the UK visa -free you still need something that's called an ETA so you need permission even if you're a foreigner in a country where you can answer enter the UK visa -free you'd certainly permission to come into the country to do whatever and you can stay no longer than six months with the exception of going there for work or even long or long -term study so even if you so they have to get they actually have to go for citizenship yes you need to ask permission to the government to enter the country apply for citizenship by it seems how's the vast majority taken that well what do you think well I shouldn't you should you should know that unless we don't have a fucking field day but let's be real here yes is a little bit concerning but something has to be done about immigration yeah but but not like this so what so what so what let's repeat what they're doing again so basically blocking anybody from coming into the country technical yes what they are promoting is they need to ask the government permission to enter the country even to foreigners in countries that are given free to free access into the UK you still need to ask the government hey can I come in and then if they say yes then you can go in I wonder how that I wonder if I'll stop the boats I don't think I don't think it's about the boats what do you think that that's a separate story what do you think it's about then what do you think it's about control or for it is well has soon that killed his opportunity of staying in in power or is he oh no he's killed his chances ages ago at this point people can people are safely saying then the next election labor majority as I'll never fucking happen that'll never fucking happen well the odds say otherwise I know you don't believe I don't believe everything here in the media I wouldn't trust I wouldn't trust stormer without ever could touch him with two pennies oh no I'm not I'm not painting this in the media the the book he's saying that well the bookies are always the bookies said but Trump would never win and he did win so he's still got his chances if he can fucking fix the economy cuz trust me it's not gonna get better under stormer storms a fucking idiot if you're under stormer Jamie you're gonna be getting rid of your oil and gas you'll be dependent on the thingy and we'll be literally sucking up will be sucking will be the LGBTQ will be plastered around every fucking set will be plastered all around England you've seen the state of Scotland don't let it come to that point I feel sorry for Scots we are gonna hit I hate the LGBTQ I think some a lot of nonsense called mentally ill people doesn't help fun to smoke the representative in my stay in my down the road representative in like one of my districts that is transgender I never happens it is very important to ask people why why are you feeling the way you are why are you doing the things that you're doing I think it's a lot of it I think it's mainly really for attention at least if what we need to do is stop giving these people attention stop giving these people stopping knowledge in their existence because we acknowledge your existence we're just encouraging their behavior it's like saying when you are when a baby when a cries baby cries you don't give it attention cuz it just it you're just rewarding it what we need to do is figure out a way to lower prices on properties what we need is cheap food we need the pricing on food to be as cheap as possible need the prices on property to be cheap so what I'm thinking to stop to solve that I'm thinking what if we were to create a bond what we were to create like a special thing right about basically help give give give everybody give people everyday people an opportunity to basically buy a house so basically cutting the prices in half right and give and give it it's only a certain type of thing that's only allowed for everyday people for the everyday people for the people and not and called big corporations can't use let use it what I'm suggesting we do is give like give massive loopholes for everyday people but bar and control property it's limit them at property but but like the likes of Blackrock the crop price Warhouse Cooper TSB and all these banks in Britain can buy so I've heard rumors that TSB is looking to get into the property market rental property markets which is quite interesting I so else's sir be bought into any new companies lately good strategy the changes in the stock market or the economy for that matter you got anything in pharmaceuticals besides John and Johnson and Johnson there's not much big father I'm investing in it till right now sure if things go away I think is you might be getting a shitload of money off Johnson Johnson soon because of the the sniff yes a district in California basically banned masks in backseat basically banned wearing on masks let's start yeah but it's a district that's always mainly Republican okay okay that makes sense you'd be surprised but there's a lot of Republicans in in California the only thing is so it's not enough to clear the state I do think that California is not big it should be split into two states I'm saying like it should be the north and the east of California one side we should do north of California and east of California and split it down the middle and basically one I personally think that should be it give more delicate seats but remember give more opportunities but not to mention it might be a thing that it might give over can I think all the all the side with Ellie I think everything to do with Ellie and Cupertino should be Cupertino LA California Cupertino all of that should be under one state and the rest of it should be the number let San Francisco I kind of like the north -south California divide yeah well I think in San Francisco part of California oh yeah it's a famous coastal city of California why can't we make that and why can't we make that and it surrounds areas its own state I don't think it's big I don't think it's big enough to be its own state I think it'll be as close as Rhode Island or Delaware it's it's the smallest area let's go but I'm saying the Bay Area maybe California big you know yeah I think I think San Francisco Bay and other neighboring neighborhoods that I think that should be enough to it for it to become its own stuff yeah it could be the next Washington DC what do you mean a shithole well yes but it's also like a district that's predominantly Democrats Washington DC ever since the u .s.
A highlight from 672:North Koreas Russian Crypto Strategy & Indias Dollar Rejection
"Why do tacos get their own day of the week? Is it because Mondays are so rough, we need a Tuesday filled with beefy tortillas shared with good friends? If so, why don't we have Wellington Wednesdays stroganoff Saturdays, and heck, beefball Mondays? Then Mondays would just be another reason to enjoy our favorite beef with our favorite people. Together, we bring more. Beef. It's what's for dinner. Funded by beef farmers and ranchers. Good evening, and welcome to the Crypto Overnighter. I'm Nick Ademus, and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10pm Pacific on Sunday, September 17th, 2023. Welcome back to the Crypto Overnighter, where we have no sponsors, no hidden agendas, and no BS. But we do have the news, so let's talk about that. Tonight we're diving into North Korea's cozy relationship with Russian crypto exchanges. Are they laundering money, or is it something far more sinister? We'll also look at India's ambitious plans to cut the dollar out of its trade equation. What does this mean for the future of fiat, and how might it impact the crypto landscape? Then we'll discuss the Hong Kong Monetary Authority's stern warning to crypto firms misusing the term bank. And don't think we're ignoring the bankruptcy saga of FTX and their reopened claims portal. Last but not least, some big names weigh in on the future of fiat and crypto. Fasten your seatbelts, it's gonna be a ride. Hacking groups linked to North Korea are increasingly using Russian exchanges to launder stolen cryptocurrency. Chainalysis noted this shift in strategy. The blockchain analysis firm also highlighted a recent transfer of $21 .9 million stolen from the Harmony Protocol to a Russian exchange known for illicit transactions. This move coincides with the summit between Kim Jong Un and Vladimir Putin. UN sanctions monitors are also noting North Korea's evolving cyber tactics aimed at funding its nuclear programs. Elliptic, another analytics firm, reported that North Korea's Lazarus Group is responsible for the theft of almost $240 million in crypto in just 104 days. The group has been linked to five major crypto hacks in the last three months, including a $54 million hack of the global cryptocurrency exchange CoinX. Chainalysis data shows that the value of stolen cryptocurrency associated with North Korean hacking groups exceeds $340 .4 million so far in 2023, compared to $1 .65 billion last year. Despite the decrease, North Korea remains a significant threat in the cybercrime landscape, accounting for 29 .7 % of the cryptocurrency stolen through hacks in 2023. The DPRK -Russia cryptolink is more than just a financial loophole. It's a geopolitical chess move. While the world focuses on sanctions and arms talks, North Korea and Russia are quietly building a financial alliance in the crypto underworld. This isn't just about money. It's about power, influence, and a shared disdain for Western sanctions. Chainalysis and Elliptic aren't just telling us about hacks. They're exposing a growing alliance that could reshape the crypto landscape. Russia's noncompliance with international efforts gives North Korea the perfect cover to continue its operations. It's a symbiotic relationship where both nations benefit at the expense of global financial security. The drop in the value of stolen assets this year could be a smokescreen. North Korea's share of crypto hacks may have decreased, but let's not forget they still account for nearly a third of all stolen crypto this year. In a world increasingly dependent on digital assets, the DPRK -Russia cryptolink is not just a financial concern, it's a security crisis. It's a glaring example of how decentralized finance can be weaponized. As long as Russia turns a blind eye, the crypto world will remain a battlefield where the DPRK can operate with impunity. We've just unraveled the shadowy links between North Korea and Russian crypto exchanges. From one geopolitical chessboard to another, let's pivot to India's audacious move to cut the U .S. dollar from its trade equations. How's that for a change in global power dynamics? But first, if you're enjoying this deep dive, hit the subscribe button.
A highlight from Child Malnutrition Estimates
"Hello friends, Joint Child Malnutrition estimates recently the 2023 edition of Joint Child Malnutrition estimates was released by UNICEF WHO and the World Bank. It includes estimates of prevalence and numbers for child stunting, over weight, wasting and severe wasting. The key findings are reduction in stunting. India has shown a reduction in stunting among children under 5 years. The prevalence rate of stunting dropped from 41 .6 % in 2012 to 31 .7 % in 2022. This resulted in 1 .6 crore fewer stunted children in 2022 compared to 2012. Global and regional compared region, globally, the prevalence of stunting declined from 26 .3 % in 2012 to 22 .3 % in 2022. In South Asia, including India, the decline was more significant, dropping from 40 .3 % to 30 .5%. India's share of global burden of stunting decreased from 30 % to 25 % over the past decade. Vasting remains a concern in India with an overall prevalence rate of 18 .7 % in 2022. India contributes 49 % to the global burden of wasting. Obesity levels, the prevalence of obesity among children in India increased marginally from 2 .2 % in 2012 to 2 .8 % in 2022. India's obesity numbers grew to 31 .8 lakh from 27 .5 lakh, contributing to 8 .8 % of the global share. However, the overall classification for obesity in India remains low compared to the global prevalence of 5 .6%. Weight issue, the prevalence rate of overweight children globally increased from 5 .5 % to 5 .6%. NFHS data, the decline in stunting observed in India aligns with the National Family Health Survey. NFHS -5 data, which estimated a prevalence of 35 .5 % compared to 38 % in NFHS -4 and 48 % in NFHS -3. NFHS -5 also highlighted improvements in access to health services and reductions in underweight children but raised concerns about amnesia. Vaternal malnutrition and wasting, wasting is a complex indicator that assesses acute malnutrition over short periods. In India, two -thirds of wasting cases among children at 12 or 24 months were found to be caused by maternal malnutrition. This suggests that children are born with low weight for height and do not recover despite weight gain.
A highlight from S13 E09: Diversified Crypto Mutual Fund Success Stories
"Hello, welcome to The Elone Show. I'm your host, John Mayelone. In this episode, don't have any regulars because reasons, I guess. As for our guest, he's from Brisbane, Australia. He manages the world's first diversified crypto mutual fund since 2016. Ladies and gentlemen, I give you Jeremy Britton. Thanks Jamie. Great to be here. You're welcome. So how's life? Life is sweet. It's springtime here in Australia. So, you know, time to put away the jumpers and put on the t -shirts, get out amongst nature. Life's good. All right. Very good. And have you been up too much recently? Oh mate, it's been so exciting. I mean, in the crypto world, I mean, we've been flying solo for a long time as the world's first crypto mutual fund, trying to make it easy for people to get into crypto. And for the first three years, we had no competitors at all. So we just benched ourselves against Bitcoin. We have managed to outperform Bitcoin for the last six or seven years in a row. But that's that's all we could measure ourselves against because there was no competitors. And a couple of years ago, we got some competitors into the market. There's two or three fund managers who came in. Sadly, they were not very good. One of them had 43 percent of their money invested in FTX before FTX went broke and they closed down. But, you know, in the last couple of weeks, we've got BlackRock, Fidelity, ARK Investments, Wisdom Tree and a whole bunch of major financial players coming into the market. So it's actually a very exciting time right now. Very nice. So what inspired you to set up this mutual crypto diversified fund of some sort? Now, my my career is like when I was 19, I started as a financial planner. So it's my first real job. And I would create portfolios for clients and say, hey, you go shopping at this grocery store, so we should get some some stock in that and you fly with this airline. So we should get some stock in that. And I would specialise in US and Australian stocks and shares. But obviously, I couldn't be an expert on China or India or Taiwan. So that's where we'd use mutual funds. And there was a person who lived in Taiwan who knew all the best stocks and shares to buy. So they would have mutual funds and would invest for a bit of diversification into into other areas. Because, as you know, you know, with with stocks and shares, when one thing goes down, something else goes up and you've got to have a balance in there. So I was I was usually creating these portfolios for clients with a mix of direct stocks and shares, as well as some mutual funds, and found over time that most people didn't really care that much about the individual stocks and shares, as long as they were making a decent amount of money.
A highlight from MONEY REIMAGINED: Noelle Acheson On Whats Not Happening With Bitcoin
"You're listening to Coindesk's Money Reimagined with Michael Casey and Sheila Warren. Hello and welcome to Money Reimagined. I'm Sheila Warren. As a reminder, you can listen to us weekly on the Coindesk Podcast Network or wherever you get your podcasts. And we podcast at coindesk .com, subject line Money Reimagined. Michael's off moderating a panel today and so I am joined by a frequent guest on the show, Noelle Acheson. I'm thrilled as always to chat with her. Noelle is now the new host of Coindesk Markets Daily and we'll spend some time today talking about the crypto markets, specifically what's going on with Bitcoin or not going on with Bitcoin, more to the point. Noelle is joining us from Spain and she has a view into European markets as well. Noelle, let's get right into it. It's so great to see you. Sheila, always great to see you. Thanks very much for inviting me to join you today. It's a fun day. I mean, we're traveling the world. You're in California, if I'm not mistaken. I'm over in Europe and this is going to be a lot of fun because while crypto markets have been quiet over the summer, they certainly haven't been idle. No kidding. And I think if anything, people are wondering, I think let's just get to the question on top of mind for most of our folks who are into crypto and not the lay people who tend to join us, which is what's going on with this bear market? How long is this going to last? Why aren't we seeing a little more of the usual volatility, right? Which is we've come to think of as a feature, not a bug. What's that about in your view? There's so much to unpack there, but I'm going to start off with a fairly controversial view in that we are not in a bear market anymore. I mean, look how much Bitcoin is up since the beginning of the year, quite double, but not far from that. And there's been just so much going on. Institutional interest is low. So if you want to go by that definition, I suppose you could say it's a bear market, but no, I go by it's done pretty darn well. It has outperformed stocks easily. And it also, Sheila, depends on what currency you're looking at. If you look at Bitcoin versus in the dollar terms, then it's up. I haven't checked the figures today, but it's what, 70 % last time I checked, 76%, whereas they are in the Turkish lira, it's up something like 120%. In Argentinian pesos, it's up over 200%. So again, I don't think we're in a bear market entirely depends on the point of view. That said, the institutions are yet not interested. They are standing on the sidelines for now, which is very strange when you consider the relative risk in crypto versus a whole lot of other assets that they are invested in. I am of the belief that we have an almighty stock market crash coming because there's no way the consumer can hold up and stock prices are discounting consumer strength. They're discounting Fed cuts in the near term. They're discounting a soft landing. I think all of those are pipe dreams. I also believe bonds are incredibly risky investment at the moment because of the misconception of what the Fed really is after here, which is bringing down inflation at whatever the cost. And they have plenty of tools in their arsenal to ensure that the financial system continues whatever interest rates are. So going by tracking slightly, the institutions are surprisingly quiet at the moment. One, because of the macro uncertainty, they've got a lot on their plate at the moment just trying to figure out the direction of the asset classes they are more used to. And also two, you touched on this already, so we can dive into that. There is very little volatility in crypto markets today. And that is a problem. Volatility in crypto markets is not a bug. It's a feature. And its absence is the main reason behind the low liquidity, which is keeping the large investors out. With low liquidity, they run slippage risk when they get in with large orders. And they run exit risk in not being able to exit should they need to. And anything but large orders is just not worth their time. I knew you would go there. And I love it because I think what is a bear? It's all contextual. And you have to look at specifically Bitcoin, but I'd say crypto in general, compared to what are your other options? Are people really investing in real estate at scale right now? Is that a thing that seems wise? I guess it depends on where you are in the world, right? So in so many ways, I couldn't agree more. I think people are looking at the extended caution, shall we say, of institutional investors and over pegging to that, if you will, as an indicator of where the market actually is. Now, next question for you, though, is given that we do have some positive signaling around Bitcoin ETFs, well, it's mixed. Okay, fair enough. We've extended some applications. The SEC's extended applications here, but Grayscale got a positive outcome. Why are we not seeing more institutions engaging with Bitcoin? What's your view on that? Well, how much, I guess, do you think, how important do you think, first of all, threshold question? How important do you think a Bitcoin ETF is to institutional investors? How important should it be? Different question. And then why do you think institutional investors aren't necessarily reacting to this signal such as it is? In order, yes, very. And it's the lack of volatility. Yes. Yes. Investors should be focusing on the likelihood of a Bitcoin spot ETF. Let's throw the ether spot ETF in there as well. Why not? Why is this important? Because it will bring in new investment. It's a convenient wrapper. And let's face it, you and I are fairly used to managing crypto wallets, but most people aren't. They've improved so much over the years, but they're still kind of finicky. And your average investor who just wants to do a couple of taps on his or her screen isn't going to sell it. And the seed phrases, it's kind of it's kind of a hassle. So when it is as easy as, again, a couple of taps on your screen or just telling your broker, please get this Bitcoin ETF, I mean, to get some exposure for portfolio diversification reasons, even if you're not going to buy into the whole decentralized eagles, just for diversification reasons, it makes sense if it's easier, there will be new funds coming in. And Sheila, it's something that we often tend to overlook. Every single bull run is driven by new funds coming in. Tends to be institutional funds to start with, because that is the smart money. They have different risk profiles, et cetera. We know the bull run is nearing its end or running out of steam when the retail starts to come in. That's generally the latter half of it. But the institutions are still waiting for some signals, one of which is one of which would be, I should say, the approval or actual listing of Bitcoin spot ETFs, whether they care or not, because I'm sure they have plenty of smart people on their staff who could handle custody for them. They're thinking about what everyone else is thinking. It's not so much what I'm going to do. It's what is everyone else going to do and can I get ahead of that? So, yes, the spot Bitcoin ETF is very important for the markets and it is looking increasingly likely. I think it's going to happen this year, latest, obviously spring of next year. But I think there are strong incentives for the SEC to get ahead of this and to approve all of the applications in one fell swoop so that they can't be accused of picking favorites, even though I'm sure they're quite tempted to do so. Probably that's not a minefield they want to wade into. And as for why are they not doing so right now? One, they don't see the momentum there yet. Now, there are always exceptions. And I think we're starting to see some signs of that. But in general, institutional investors like to think what other institutional investors are going to be doing. I'm not saying they're pack animals, but they do like to wait for some momentum. It's not there yet. For the reasons that we were talking about before, right now, the liquidity is just painfully low. It's risky. We want some volatility in the market. An interesting question, Sheila, is what will it take for that volatility to come back and what will it take? So what would it take for the liquidity to come back? Because that's the key. In fact, even more so than volatility, liquidity is what the institutional investors are waiting for. And the answer to that, in my opinion, is volatility. Why? Because market makers and the high frequency traders that are responsible for a large part of the liquidity in the crypto markets, they need that volatility to make money. The market makers hedge their positions and hedging and crypto is more expensive than hedging and other assets. And if there isn't that volatility there, they're not going to cover those hedging costs. And as for high frequency traders, it's just not worth their while unless there is that volatility on which they can make money. So when we start to get volatility, we will start to see more liquidity. When we start to see more liquidity, we will start to see institutional interest because the asymmetric risk profile is there. There is less downside right now in Bitcoin to choose one example than there are in many stocks. There is more upside, arguably, in Bitcoin to choose one example than there is in many stocks at these valuations. And this is something that for sure smart institutional investors are thinking about. Something I think that gets missed a lot is in the sort of CFI, DeFi, I don't want to call them wars, but kind of the camps that we have within the crypto ecosystem, right? And this idea that TradFi versus CFI versus DeFi, you know, kind of mindset is that a lot of the liquidity comes from various forms of exchanges. If you can't exchange something, if you can't trade it, if you can't buy it and sell it just to be as plain as possible for those of our listeners who aren't as familiar with this terminology or how this works. If you can't trade something, if you can't exchange it and buy and sell it, it doesn't have any liquidity. It's a stuck asset and it can't provide option value for you. You can't move within it freely. And that is not attractive in many cases. In some cases, you don't mind that, right? All of us are familiar, well, most people I think who listen to this show are familiar with the idea of buying and holding an asset. Real estate's a great example. You buy some of your intentions to hold it for a very long time. If the market makes little moves here and there, you don't necessarily care, right? This is the whole theory behind single family residences or buying your home or owning a home as an asset. Other kinds of things, especially digital assets, are very different. The idea is that you can trade them faster and they are more liquid. And that is meant to be a feature of the asset. If that liquidity is compromised in any way and there are multiple ways it could be compromised. It could be compromised because people are afraid to sell. It could be compromised because suddenly they're faced with a gigantic tax event if they sell. So they might sell in smaller amounts. It could be because there's some regulatory thing happening that makes people very nervous. It could be because an exchange shuts down. It could be because a bank failed. There are all kinds of reasons why liquidity might be affected. And so I think what's interesting to me is when I think about the TradFi, DeFi versus DeFi kind of framing, the idea is, well, what's really needed is the exchange. The exchange is the functional place where this kind of thing happens. And the more places there are to trade, to exchange these assets, the more optionality you have around liquidity. But I'm just curious to get your thoughts around the role of exchanges, different kinds of exchanges and what would happen. I think this is something a lot of us are back of mind, very concerned about what would happen if one of the major exchanges suddenly became unable to list a token. Let's not let's leave Bitcoin out of it. I think that is a very unlikely thing. But if another token suddenly were unable to be exchanged for any number of reasons, what might the consequences of that be? Are we looking at another potential major crash? Over to you, Noel. Lots of unpack there and stepping back, this reminds me of that saying, you know, if a tree falls in the woods but no one hears it, did it actually fall? If something doesn't trade, it doesn't really have a market price, as you pointed out. However, Bitcoin has had a market price since 2010, effectively, it always will have a market price, whether that market price is legitimate, legitimate in the sense, does it represent the market opinion at any given point in time? That entirely depends on the liquidity and the distribution of the exchanges that are trading it with smaller, more liquid tokens, the altcoins, if you will, that does become relevant. That becomes relevant when we're talking about very thin float. If you and I were to exchange two percent of a token, which involved, you know, you and I swapping three shares, maybe three tokens, maybe if that turned out to be two percent of the free flow, then you and I can really move the market. That's not representative and that is going to affect the liquidity. In other words, you're not going to get big orders or major investors looking at that because that would be irresponsible of them and they have a fiduciary duty. So liquidity is fundamental. Liquidity does depend on the number of and characteristics of the platforms that allow for the exchange of these assets. And coming back to your last question, unfortunately, we can all still remember much to our chagrin what happens in the market if a major platform just disappears or implodes. You know, we're still working through the debris of what happened to FTX in November, and it's not quite over yet. Unfortunately, it's another another headwind. So exchanges are super important. And as for the debate about what is better for the ecosystem, the centralized version of the decentralized version, the centralized version right now is what most institutional investors have to use. They do not have the regulatory authority or the permission of their compliance departments to deal on decentralized exchanges. I think that's temporary. I think that will change as compliance departments around the world get more comfortable with idea. But for now, centralized exchanges are key for this. They provide certain comfort and regulatory cover. And when it comes down to the question, which I get asked a lot, you know, we don't need the institutions in this industry. We don't want centralized. It's anti -crypto kind of thing. And my response is always, we get to decide if the market will decide if the market doesn't want centralized exchanges, they will cease to function. But unfortunately, the market does want them. And that's one of the points of crypto. It's the free market. The market decides. Now, that's not that's, you know, very handwavy, truthfully, legislation regulators around the world are grappling with the requirements of of what centralized what crypto centralized exchanges should what rules they should follow. And this is important because it's investor protection. We can all get behind the idea of investor protection. But the it's like water. It will find the easiest path. It will find a way to move. It just needs to move. If the jurisdictions such as the United States do not get some clear guidelines in place, then the liquidity will move elsewhere. We're already seeing that. If I can throw in a totally different twist, and this is another very significant tailwind that we are not is being looked in my opinion, and this is relevant to liquidity, is what is going on in India at the moment. We saw the wrap up of the G20 meeting this weekend and one of India's goals for being Just to interject really quickly to just note for our listeners that India has the presidency of the G20, which is so they are setting the tone for a lot of the conversations in addition to some of the content. But please continue, Noelle. Absolutely. In fact, they said at the outset that one of their overriding goals for their presidency was to establish global guidelines for crypto regulation coming from India. This is fascinating because you've got the central bank wanting to ban it. I mean, even earlier this year, the central bank governor said that crypto assets were not even tulips, which is very insulting. But you also have the Supreme Court saying that the central bank cannot forbid banks from servicing crypto companies, but no bank wants to. The central bank doesn't approve, et cetera, et cetera. In other words, in India, crypto trading has been muted because of regulatory pressure and the punitive tax rate. However, with India having succeeded in its goal at getting some, in my opinion, toothless guidelines around crypto, still they are indeed global guidelines. We now have India saying that it is going to be focusing on its approach. That is a massive market. This is just one milestone in what I'm seeing around the world, Sheila, and that is a steady march toward greater crypto clarity, even in the US. I mean, the decisions that have come down from courts over the past few months, handing victories to, not to the SEC, but to the crypto companies that the SEC has been doing battle with, it's a slow and painful march, but it is a march toward crypto clarity, even in one of the most resistant jurisdictions. But that covers a potentially huge market as well. Yeah, and I have to contextualize that as well. So when I first met with the Reserve Bank of India, the RBI back in, oh, gosh, it must have been like 2018, 2019 at the latest, it was just, you know, listen, we've got our universal payments interface, we've got UPI, we've got a universal identification system, everyone's on it, you know, we don't need any of this stuff. We're already taking a lot of steps to make sure everything is happening. And it's a really fascinating march towards, I mean, frankly, high surveillance. OK, but what's really interesting is you have a populist prime minister in Modi who is somewhat analogous to Trump. I say that realizing it's a controversial stance, but as a person of Indian descent, I feel very comfortable making the statement. And yet you had the exact opposite move with respect to crypto in the country for quite a period of time. So this thawing, while it is minor compared to other moves being made, is extremely significant. And the idea that now that I think some of the other moves that were made by the Modi regime have been pretty cemented and they're kind of commonplace and they're sort of a psychological adjustment on the part of the population to the use of these kinds of things, you're now seeing, I think, kind of the next thing, which is, OK, this other thing is happening. Digital assets are blowing up all over the place, maybe not in terms of the price, but in terms of the ubiquitousness. Right. There's a clear stickiness here. The U .S. and the SEC there are not, frankly, winning their apparent, well, Gary Gensler, especially in the Pacific, Gary Gensler's apparent quest to ban the asset class. That does not appear to be successful. Europe, the UK are moving in the Middle East, moving at a march pace into this. Brazil, all kinds of places. And so I think India, to some extent, doesn't really have a choice. They have to take this very seriously. And there are no fools over there. They're recognizing what this might look like within their context of the financial system that they have very, very deliberately laid out. Now, this government is not averse in any way to making extraordinarily dramatic changes overnight. OK, so this is a government that, what was it, a few years back, just banned certain bills, just took them off the market with 24 hours notice. So you basically had it was a very high denomination paper currency. And the idea was you had basically 48 hours to take them to a bank and get them exchanged. And if you didn't, they were worthless. You could not use them anymore. That was ruled out with almost no notice, basically overnight. It caused a huge kerfuffle among certain classes in India. But the idea was it was an attempt to get black market money and turn it into white money and to say, you're holding this in these giant denominations, you can't do it anymore. So they have no hesitation in doing things super quickly. And so I think that's also important context is if they were to decide we're going to lean into Bitcoin, crypto, certain kinds of products, whatever it is, it would happen potentially extremely quickly. It's not the kind of thing that ever else would need months of back and forth and legislation and this and that and public comment. They would just do it and go. So I think it's one to watch, not just because they have the presence of G20 and that will set a tone, but also because to your point, it is a massive market that has remained pretty closed in terms of a lot of opportunities to outside and not just investment. That's a different issue, but to outside engagement within the rails that the country runs on. Absolutely. And it's not only a massive market, it's a massive entrepreneurial culture itself that has had to pretty much sit on the sidelines with its cost waiting for some sort of clarity. Not only that, it is also a culture that is not averse to speculative trading, similar to other economies in Asia, similar to many economies in developing worlds, Sub -Saharan Africa comes to mind. And when they initially clamped down, they saw it as a threat to the UPI and also to the digital repeat that they're trying to increase the usage of. But that is bucketing crypto into payments use. The fact that they are now aware that, hey, if we let people trade this, there is going to be significant tax revenue behind this. Plus, we're going to be giving people what they want, which generally polls quite well and turns out quite well for in the elections. But it's so it reflects a growing a deepening understanding of what crypto can do. And it's standable. It's difficult for many for many to get their heads around, let alone leaders of giant economies that have other things to worry about. But it's significant. Going back to what you're saying, Sheila, about India's role in the G20 this year as its president, it did guide it towards some global framework, clumsy global framework. But a global framework, that's a start. You have the IMF actually acknowledging the point in banning this. It's in the pattern on their previous statements. The presidency passes to Brazil in December. Brazil is very pro crypto. Brazil has a host of spot ETFs. Brazil's leading crypto exchange is right now in trials with the central bank on the digital currency that they're launching. You have banks that are quite happy to serve as crypto businesses. In other words, an entirely different environment which could push the G20 into an even more accelerated understanding of the potential of crypto assets and stepping back for a second. It highlights what you and I have spoken about before, Sheila, about the one complexity, but to the opportunity of an entirely new asset class that is many things to many people. Crypto is a speculative asset to some. It is a payments rail to others. It is an entrepreneurial platform for many. It is many things, and that is very hard to regulate, but also does present great opportunities for those brave states that are willing to embrace the potential.
A highlight from 666:FTXs Multi-Front Legal War and Indias Crypto Tug-of-War
"Rockstar Energy punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, guarana extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy drink. Good evening and welcome to the Crypto Overnighter. I'm Nick Ademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember none of this is financial advice. And it's 10 pm pacific on a Monday, September 11th, 2023. Welcome back to the Crypto Overnighter where we have no sponsors, no hidden agendas, and no BS. But we do have the news so let's talk about that. Tonight we're diving into FTX's legal labyrinth involving a staggering 86 million dollars. Then we're shifting gears to India, Coinbase's hasty emails, government policy, and the central bank's digital aspirations. We've also got a bitcoin user who made a half million dollar mistake, a Hong Kong -based project revolutionizing decentralized identities, and the social media platform that's proving the naysayers wrong. Buckle up. Failed cryptocurrency exchange FTX is embroiled in legal battles on multiple fronts. The company filed a lawsuit against Layer Zero Labs to recover 86 million dollars transferred just before declaring bankruptcy. Layer Zero Labs accused FTX of making unsubstantiated claims in the lawsuit. FTX's bankruptcy filings have also revealed substantial payments to celebrities. The list includes nearly 750 ,000 to Shaquille O 'Neal, about 308 ,000 to Naomi Osaka, almost 206 ,000 to Trevor Lawrence, and about 271 ,000 to David Ortiz. These celebrities are now subject to lawsuits by FTX creditors. Layer Zero allegedly exploited FTX's sister company Alameda Research by demanding immediate repayment of a 45 million dollar loan. In exchange, Alameda transferred its entire 4 .92 percent equity stake in Layer Zero. The deal was considered highly favorable for Layer Zero. FTX also seeks to cancel prior agreements and recover 21 .37 million dollars that Layer Zero allegedly withdrew illegally. The company is exploring options to claw back funds paid to celebrities and sports teams to settle its debts. Now from my point of view, FTX's legal entanglements are a glaring example of the risks and volatility in the crypto space. The company's aggressive marketing strategy involving high -profile celebrities backfired spectacularly. It's a warning for investors and a point of concern for regulators. Layer Zero's alleged exploitation of Alameda Research's financial distress raises ethical questions. It also highlights the lack of oversight and the need for stringent regulations in the crypto industry. FTX's attempt to recover assets and cancel prior agreements could set a precedent for how companies in financial distress handle their obligations. It's a complex web of legal and financial maneuvers that could have far -reaching consequences. The unfolding drama reminds us of the dangers and rapid expansion without adequate risk management. It's the lesson for other crypto companies and a wake -up call for the industry at large. Lawsuits and bankruptcy are one thing but what happens when a crypto exchange throws a curveball to a whole country? Before we unravel this don't forget to hit that subscribe button to stay updated. Coinbase recently sent emails to some of its Indian users stating it would discontinue services for them after September 25th. The email urged users to withdraw their funds from the platform. The email was not sent to all Indian users but only to those who were found to be in violation of Coinbase's updated standards. This led to confusion and panic among Indian traders who took to social media to express their concerns. Coinbase clarified that the email was part of a routine review and was sent to users who no longer met their updated standards. The exchange also stated that this move does not affect users access to Coinbase cloud services. Coinbase entered the Indian market last year but faced several challenges including regulatory issues and the suspension of UPI support on the platform. The company also stopped onboarding new users from India earlier this year. Coinbase's actions come at a time when India is hosting the G20 summit where global cryptocurrency regulation is being discussed. The Indian government is also evaluating recommendations for regulating crypto assets. Despite these developments Coinbase remains committed to the Indian market and continues to offer its wallet services. The timing of this event and the ongoing G20 summit in India cannot be ignored. Is Coinbase feeling the heat from global regulatory discussions or is this a strategic move to tighten its user base and comply with evolving regulations? Either way the incident has sown seeds of distrust. Coinbase's selective email to certain Indian users also raises questions about transparency. What are these updated standards and why were only specific users targeted? It's a murky situation. Moreover the Indian government's stance on cryptocurrency is still unclear adding another layer of complexity to Coinbase's operations in the country. With the G20 summit discussing global crypto regulations Coinbase's actions might be a preemptive measure to avoid future complications. While Coinbase remains operational in India the incident calls out the vulnerabilities and uncertainties that come with centralized systems. Coinbase's recent actions in India have clearly caused a stir highlighting the tensions between centralized crypto platforms and regulatory ambiguity. But as we pivot from this snapshot of crypto's current standing in India let's widen the lens. Now we were just talking about the G20. It's not just the exchanges that are at a crossroads here. The Indian government itself is on the brink of setting the course for crypto's future and their decisions won't just affect the subcontinent. They're positioned to influence the global crypto landscape via their presidency of the G20. So from the individual worries of Coinbase users to the collective anxiety of the global crypto community we see that the issues are deeply interconnected. Both are waiting for India's next move which could either enhance financial freedom or tighten the government's grip. So here's what's going on more broadly speaking. India's finance ministry is set to decide its stance on crypto in the coming months. The country has been under scrutiny for harsh crypto regulations including taxes and anti -money laundering rules. However there is a shift towards possibly framing its own legislation, a first since early 2022. India is also working on a five -point crypto legislative framework. This includes advanced KYC for crypto companies, real -time proof of reserve audits, a uniform taxation policy, and possible authorized dealer status for crypto platforms under the Reserve Bank of India's guidelines.
Monitor Show 13:00 09-11-2023 13:00
"News, big news for the auto industry, but also a big point here for organized labor in the US. Looking at these markets here as we close out the hour, the S &P 500, it's up a half of 1%, NASDAQ up 7 .10, so 1%, a little bit more life there. So we're seeing some nice moves there. 10 -year Treasury, 4 .28%. The dollar giving back a little bit here after a very strong couple of days. Sound On with Joe Matthews starts right now from Washington, DC. Is that actually what will decide this race? Federal spending combined with too -lax monetary policy has produced this 40 -year high on inflation. China policy is driven basically by domestic politics. American families are finding themselves further behind the eight ball. To get anything done in this Congress, it's going to have to be done in a bipartisan way. Bloomberg Sound On with Joe Matthew on Bloomberg Radio. First, an alternative to China. Welcome to the fastest show in politics. As President Biden makes his way home from the G20 in India, along with a stop in Vietnam, after drawing contrast between America's economic vision and China's belt and road. But will it matter? We're joined in studio with Bloomberg White House correspondent, Michelle Jamrisko, and we'll talk with Craig Singleton from the Foundation for Defense of Democracy is fresh off his op -ed in The New York Times. Analysis from our signature panel. They're both back with us today.
Monitor Show 07:00 09-10-2023 07:00
"Investment Advisors. Switch to interactive brokers for lowest cost global trading and turnkey custody solutions. No ticket charges and no conflicts of your interests at ibkr .com slash ria. On the Bloomberg Terminal. Have a good and safe weekend everyone. For Carol Masser and Jess Menton, I'm Tim Stenebeck. Today's top stories and global business headlines are coming up right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. Offers of assistance are pouring in from around the world as Morocco reels from a deadly magnitude 6 .8 earthquake. Michigan resident Tamika Gambrell was vacationing in the North African nation when the quake hit Friday night. One person actually saw it. Maybe a bomb had went off. The death toll stands at more than 2000 with thousands more injured. President Biden has given condolences and is pledging US support, adding that every effort will be made to ensure American citizens in Morocco are safe. President Biden's just wrapped up meetings at the G20 Summit in India. In a closing statement yesterday, world leaders called for a just and durable peace in Ukraine, stopping short though of condemning Russia for its invasion. The G20 declaration also called on Russia to reinstate the Black Sea Grain Initiative, which allowed Ukraine to export grain to help global food supplies. Former Trump attorney Rudy Giuliani is asking a judge in Georgia to rescind the election interference charges against him. Jim Forbes has more. He's been indicted along with 18 others over the alleged attempt to overturn the results of the 2020 presidential election in Georgia. On Friday, Giuliani's lawyers argued the indictment quote fails to provide sufficient notice as to what he must defend against at trial.
Monitor Show 18:00 09-09-2023 18:00
"Her winning tenacity out on that issue. But for the most part, unless the government handles it directly, they run a lot of sanctions put in at the end. John, the information you found is just stunning. Thanks so much for sharing it with us. That's John Holland, Bloomberg Law's senior investigative reporter. I'm June Grosso and this is Bloomberg Law on Bloomberg Radio. Stay with us, today's top stories and global business headlines are coming up right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. The death toll from Friday night's earthquake in Morocco is at least 1 ,300. State -run broadcaster Al Aula also reports that more than 1 ,800 are injured. The outlet cited Morocco's interior ministry as saying more than 1 ,200 of the injured are in critical condition. The earthquake is being called the strongest to strike the North African nation in more than a century. President Biden, who is attending the G20 summit in India, is pledging U .S. support. Our report says President Biden is considering a plan to deal with the immigration surge. According to the Los Angeles Times, the plan would force migrants who cross into the U .S. illegally to remain in Texas and possibly other border states while awaiting their asylum screening. Texas Republican Governor Greg Abbott has already bussed thousands of migrants to New York, L .A., Washington, D .C., and other blue cities. Many mayors and governors in those states are now openly criticizing the president for his inaction on immigration. Many Americans with student loans are not having any luck calling their loan servicers to restart their payments. Here's Julie Ryan. Some popular servicer websites have been down over the past week with callers complaining they spent hours on hold without getting any answers. Interest on September 1st. I'm Julie Ryan. Officials say it could take days to.
Monitor Show 16:00 09-09-2023 16:00
"Our original music was composed by Leo Sidrin. We'll be back tomorrow with another big take. I'm Wes Kosova. Stay with us. Today's top stories and global business headlines are coming up right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. President Biden is wrapping up meetings at the G20 Summit in India. In a closing statement issued Saturday, world leaders called for a just and durable peace in Ukraine. However, they stopped short of condemning Russia for its invasion and urged nations to respect each other's borders. President Biden says the U .S. will provide assistance to Morocco following a deadly earthquake if requested. At least 1 ,000 people are confirmed dead and hundreds more injured by Friday's magnitude 6 .8 earthquake. Biden said he is deeply saddened by the loss of life and devastation in a statement this morning. The full final report from the special grand jury in Georgia that investigated former President Trump has been released. Jim Forbes has details. It reveals that the grand jury recommended charges against South Carolina Republican Senator Lindsey Graham, former Georgia Republican Senator David Perdue, former Georgia Republican Senator Kelly Loeffler and many others who were not charged. The special Fulton County grand jury's decisions did ultimately result in the indictment of Trump and 18 others on felony racketeering and conspiracy counts. I'm Jim Forbes. The manhunt continues for a convicted killer in Pennsylvania.
Monitor Show 15:00 09-09-2023 15:00
"Still a little bit above pre -pandemic levels, but getting closer around three and a half percent versus around three percent or so. And medium and longer term inflation expectations are basically where they were before the pandemic. That's John Williams, the president of the New York Fed, speaking exclusively to Bloomberg's Michael McKee. And that does it for this episode of Bloomberg Best. I'm Justin Milliner. Stay with us. Today's top stories and global business headlines are coming up right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. World leaders at the G20 summit stopped short of condemning Russia for its invasion of Ukraine. Instead, they urged nations to respect each other's borders. In a closing statement issued Saturday, the leaders called for a just and durable peace in Ukraine. It added that any use or threat of use of nuclear weapons is inadmissible. The G20 declaration also called on Russia to reinstate the Black Sea Grain Initiative, which allowed Ukraine to export grain to help global food supplies. President Biden says the U .S. will provide assistance to Morocco following a deadly earthquake if requested. More than a thousand people were killed and hundreds more injured by Friday's magnitude six point eight earthquake. Biden issued a statement from the G20 summit in India today, saying he is deeply saddened by the loss of life and devastation. The Senate will start moving a package of government funding bills next week. Trey Thomas reports. This comes as Congress is racing to avoid a shutdown at the end of this month. The last thing Americans need right now is a pointless government shutdown. Senate Majority Leader Chuck Schumer said he expects the first votes on Monday. The top Democrat urged Republicans in the House to follow the Senate's lead.
"india" Discussed on Bloomberg Radio New York
"And India is actually finally looking like it may be more interesting. It's always been market waiting to excite and impress people and often not doing that. It does feel at the moment like India really is starting to move forward for a whole variety of reasons, including China moving back, and so India is interesting on a number of levels. And then Southeast Asia, you really have to go country by country. It's not our area of expertise. We don't really do anything there. Indonesia is potentially interesting, but I have not spent time there. So I'm not an expert on that. Steve, when you say you're as defensive as you've been, maybe ever, but certainly in a good long time. Does that include making sure you have a lot of liquidity? Does that mean you stay in cash or cash equivalents because you think there may be opportunities as the year unfolds? Yes, first we are as defensive as we've been at any point in our 14 or 15 years of history. And that does include a lot of cash. And it's not that we necessarily want to get ready to pounce on something, although it does put us in a position to be able to. But you really can't lose money holding cash. And especially with short rates having moved up so much, you can actually make a decent amount of money on relatively short rates. You can buy two year treasury paper and make over 4%. It's all. It's all a lot better than potentially risking money in the equity markets at this moment. And then we do other things involving hedges and things like that to make sure hedge funds, hedges, to make sure our equity exposure or exposure to the equity market I should put it that way is down where we want it to be. Okay, Steve, thank you so much for being back with us. Steve ratner. He's the chairman and CEO of a willett advisers
"india" Discussed on Nationalism in India
"Heads. Robot in seventeen ninety eight mysore in seventeen ninety nine unsure in seventy nine thousand nine of in eighteen zero one visuals in eighteen zero to cindy housing eight zero three geico eighteen zero three all these were under the gulf this policy of subsidary lines all these priests were being a next under policy off subsidary lines. We remembered todd war and my soul in the previous episode. We'd have discussed above this. We have seen the chow people sue done. He was fighting okay so quick was his movement. That took the enemy. He seemed to be fighting on many fronts. The siege joseph putnam voice a final confrontation of anglo fourth anglo mysore war and yes that is important and my. My soul was being annexed so all these therese one under the english east india company on the on the basis of the policy of sub. Surreal lines anglo murata wards three important wars and it finished in the ear eighty ninety with a toilet anglo toward and and other important policy all annoyed very well and that is doctrine of lapse which was introduced by law delhaize. He was the governor general from eighteen. Forty eight to fifty six. And according to this policy any any gang who was not having natural higher then his kingdom was allowed to pass to the english east india company right to the british so this was policy which was been introduced by lord dalhousie and many states were being in next on the basis of the spoils eat said narrow in eighteen. Forty eight jet poran samba. Who in eighteen forty nine for the coordinating doj fascinating to three knock rating with before the during his tenure. Nortel hosie have tried to do what to annexed these territories and all these things expand expansionist policies of english. Instant company finally resulted in something different. We all remember that what happened in the first quarter of independent independence. Hope you remember that. So then the things you don't when we are not able to tolerate the things then we do something which others cannot even imagine. And that's what happened in our history with the revolt of eighteen fifty seven many things we fill lording stay connected to me to know more till then take care of yourself and by..
"india" Discussed on Nationalism in India
"Think about others so the people around you will cherish only those memories there. You will do something for others but if you do something wrong then what will have you will be always remembered with deals and yes dears in my eyes. I'm shedding you. How did english east india company. They.
"india" Discussed on Nationalism in India
"So let me share my experience with you all so ari already to listen to me after this rally break. Hope you all are ready and you all are saying yes. Okay thank you. Well observing the. I have felt that each the brings slight but it starts flickering and suddenly glows. It reminded me something very important. Specially about this human life which is a gift of court and we all are taking it for granted. We're not understanding this fact you're not accepting the fact because we all are always busy something to work. You're not thinking about this. Human life is so precious so while observing idea. I have felt that human life which is a gift of god is something which glitters when we look more the more we work. It glitters more but during the last face off our life which we don't know when it will come. We do get some miraculous energy for device. I have seen this kind of thing. So that's why i'm sharing. That moment is very bessis. At only that person can shares experience. Who has tried to experiences so during that face some energy is generated but suddenly dem's like deal in the end so this is learning from deal..
"india" Discussed on Nationalism in India
"Hello everyone welcome back. All of you to my podcast. Hope you all fine in taking very good care of yourself very good. Nothing is permanent in this world. Everything is uncertainty. This is something which is the root of fact which we all cannot deny. But the question comes here that. Why did lord cornwallis. Guess i'm talking here. About lord cornwallis governor general of bengal. Why did he introduce permanent. Settlement of land revenue system in gold. Benaras bihar kinetic north kinetico and autism. Do you want the answer for this. Then listen to me carefully. yes dear. All lord cornwallis. He was born on thirty december. Seventeen thirty eight okay. And he was a great administrator when he arrived india. He had numerous problems the problems which already there. Before the british government main problem was corruption. We have learned this. We have understood this now. This problem was very very common and he had to fight to resolve this issue and he did this. How does understand his tenure in india was from the year. Seventeen eighty six to seventeen ninety three and introduced number of judicial reforms in different different us. All this was done to organize the administration right measure reform as i have already mentioned. The major reform introduced the land revenue system in bengal. Benaras bihar are not that north kenaka and oda was the permanent settlement. Now what was there in this sermon. Dar's they were amazed owner of flange and the farmers were reduced to the status of tenants. Okay so some indoors. The harry responsibility of the land revenue and they had to pay eighty nine percent of land revenue to the british. All this is slated the drina filled from india to british right. This was the permanent settlement. Which i was talking in the introduction of this episode. I hope you all appeal with this. No the second problem with scott option for that what he did. He established rules so that only qualified person. Good get services for this. He prohibited the bribery system. Did not allow officials. company officials. Take the bribes. He taught he perhaps have taught like this that the company officials they were not satisfied with the salaries. So what he did. He worked to improve their salaries. All the posts in the administration was reserved for the europeans and the indians were reserved only for the low grades posts like loves right so in this way he tried to check corruption among the companies officials right in judicial system he established goats and district provinces and separate goals for civil and criminal cases with their established ton to maintain law and auto and as i have told you good salaries were being provided to the europeans so that they could not indulge themselves into the corruption or any kind of gripes. This was the initial thing which he had to sort out now. He also to fight war with mysore in the ear. Seventy nine hundred people declared war on trevon cole and here. Lord cornwallis emot- victorious. People saw tun and his forces had to retreat. And this war. The third anglo by war ended the treaty of putnam in seventeen ninety two according to which people sutan had to cede half of his kingdom to english including the areas of malabar. Cool being where mahar all this a not only this. He had to pay three or as a war. Indemnity to the british. So this was about the third anglo mysore war with very less knowledge about india and its affairs he'd east india and developed his elaborate gold of regulations and popularly. That gold of regulation is known as cornwallis gold and heat. It had all the provisions for the governance low order judicial and civil administration. This was just a brief about going all is the father of indian serves indian civil service in india his contribution was immense. Ed organized every ping and in seventeen ninety three. He had to leave from india. He don't back hill in eighteen zero five during the gap. Okay from seventeen ninety three in the ear in the ear seventh. In the year he seventy ninety eight from eighteen zero five. He was viceroy of ireland. And they're also he played important role in in suppression of irish rebellion. There in seventeen thousand nine hundred and defeated their the french invasion forces so he was a great leader great administrator and that is why he used to quickly resolve issues this is a quality which is rare and he had that so we have to remember such qualities of lord cornwallis to know more stay connected to me and to than take care of yourself and but by..
"india" Discussed on Nationalism in India
"Into <Speech_Female> at least <Speech_Female> make an <Speech_Female> additional <Speech_Female> payment revenue <Speech_Female> payment. <Speech_Female> <Speech_Female> It was a request <Speech_Female> from his side. <Speech_Female> And to send <Speech_Female> the troupe of two thousand <Speech_Female> men <Speech_Female> <Speech_Female> chet singh offered <Speech_Female> only five <Speech_Female> hundred infantry <Speech_Female> and five hundred <Speech_Female> cavalry men <Speech_Female> so this <Speech_Music_Female> became because <Speech_Music_Female> an initial <Speech_Music_Female> calls <Speech_Female> for the <Speech_Female> coming <Speech_Female> conflict between <Speech_Female> them <Speech_Female> between warren <Speech_Female> hosting and the chat <Speech_Female> thing <SpeakerChange> <Speech_Music_Female> later on <Speech_Female> <Speech_Female> when the rebellion occurred <Speech_Female> <Speech_Female> on seventeen <Speech_Female> august. 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The company <Speech_Female> became <SpeakerChange> a paramount. <Speech_Female> Par <Speech_Female> <Speech_Female> it justified. <Speech_Female> <Speech_Female> Its <Speech_Female> annexation policies <Speech_Female> <Speech_Female> of any indian <Speech_Female> kingdom <Speech_Female> there was <SpeakerChange> justification <Speech_Female> <Speech_Male> so <Speech_Music_Male> his role <SpeakerChange> <Speech_Female> with very <Speech_Female> important <Speech_Female> and his <Speech_Female> contribution. <Speech_Female> <Speech_Female> The <Speech_Female> cannot <SpeakerChange> <Speech_Music_Female> deny <Speech_Female> <Speech_Female> so dear <Speech_Female> old keep learning <Speech_Female> more <Speech_Female> and more about <SpeakerChange> <Speech_Female> <Speech_Female> <Speech_Female> him <Speech_Female> and <Speech_Female> all others <Speech_Female> <SpeakerChange> and <Speech_Female> try to find <Speech_Female> something good from <Speech_Female> each one <Speech_Female> of them. <Speech_Female> <Speech_Female> Tilden <Speech_Female> take care of <Speech_Female> yourself <Speech_Female> and <Speech_Female> <SpeakerChange> <Speech_Music_Female> by. <Speech_Music_Female>
"india" Discussed on Nationalism in India
"Hello everyone. Welcome back all of you to my podcasts. Hope you all fine and taking very good care of yourself very good. All we all are living beings. We do love to live independently as a human being. We have a right to life to live it independently. Hope you all agree with me. Suppose you are in a situation when someone is dominating you detailing you may question is. Have you ever experienced such situation in your life probably. We all must have experienced if not that. It's very good as nobody likes this. Nobody admire versus. And nobody wants to dictation domination as the all living bean. and it's a very well coltish provo with sates live and let others live so if someone is trying to regulate or control your life please please please to not allow us. You haven't independent mind and act accordingly right dear old my focus hair for all of you. Shift your attention to the very important act that act which forced stormed as regulating act regulating act of seventeen seventy three which was passed to control the cherry trees of east india company measuring bengal. So this was the first major intervention by the british government in the company's territorial affairs. Why did the british government and that this this is a very important thing and for that you need to understand the of seventeen sixty five to seventy seventy two it which was one which witnessed the financial crisis. The company's officials were responsible this kind of crisis during this speech as these officers david collecting the revenue from the indians excessively and they were involved the rampant corruption. All this led to the bankruptcy of the company and the company demanded loan in the erie. Seventeen seventy two but this demont. British government took a forward step to pass the famous act or we can see here. The regulating act controlled affairs of company to manage the things. Here right this act. Few provisions were created warrant. His thing was made the governor general in bengal. The governor general in bengal was supervising the governor in council at but and bombie the two other important presidencies right four board of administrators for the members selected by the governor general of bengal right. This was very important. Companies directors were elected for a period of five years and one four of them were to retire every it could not be reelected. Supreme court of judicature was established at calcutta with sir. Ilya ilya j. impact sir ilya j. Mp was appointed. As the full steve justice it had civil and criminal. Just diction over the british subjects and not into nato all these were included in the provision of this act but yes this act could not stop the corruption. Among the companies official it had several weaknesses which were being exposed and that is why another act was being passed in the year. Seventeen eighty four. The measure weaknesses were there including governor-general had no eater bar one second. It did not address. The concerns of indian population poed supreme. Goat bobbers were not well defined and many other things mainly the corruption was a major concern including all above points. Which i have just mentioned for your but we cannot deny this fact. That act was the first major step of the parliament. Or i can see was the first major step of parliamentary. In control of the engine administration of company the company which was administrating. The areas was no longer a private affair or in other words. Administration of the ads under the company was no longer private affair now. It was under the supervision of british government and that is important when someone is said to supervise affairs then mismanagement is not likely to occur so to control the things to regulate the things regulating act was passed. Many other acts were also been enacted. Why four the administration of the territory empire of british. We will be learning more steak elected to me. Stay connected to me nor and tilden take good care of yourself. And but by..
"india" Discussed on Nationalism in India
"Didn't want any perpetual.
"india" Discussed on Nationalism in India
"Hello everyone welcome all of you. Do my podcasts. Hope you all fine in taking very good care of yourself very good then. All we have learned so many things from the different phases of nationalism. But have you ever thought the why the to why these feelings of nationalism had to why this was necessary. Why the speed came that assaulting for awhile. Why do we need to study all these things. All the faces of nationalism in india if every single even which happened in the past resulted in some consequence and the that emerged new movement. So i'm going to take you back in the year. Seventeen fifty seven when the most. This is back in the history of india occurred. What was that. The i will be telling you. Keep patience. listen to me carefully. Do you all believe in honesty. I hope we all do believe in it. But in the past indians had to pay the price for being honest how why and then keep patients and listen to me get fully british. Came here the mir objector. Or i can say the purpose of trade hill. The all loaders very well but something happened do which their aim changed and finally they transformed their profitable company into a full-fledged empire territorial empire why lettuce introspects with all the union such happened in the past the year. Seventeen fifty seven right but before that. Let me brief you on that vendor royal chato by the queen elizabeth one ranted trading rights to the english eastern dick company. Thomas stole a diplomat from the british site. Came here in the cold of gihanga to get the approval of the trading agreement according to which in english eastern company got trading rights hill in india along with the establishment of their factories. Right these places factory. They became the base of english traders and company merchants. They were there to settle near the factory. Distorted goods for exports. All these things were going on the past right indians allowing the tree was going on for a very precious commodity spices. Specially the pepper. What else muslim. The important cotton a type of a variety of cotton which was very fine and it had a great demand a huge demand in the european markets. So there were numerous battles or the. I can say the conflicts between the three important trading companies during that face english french and the dutch right all wanted to command the european market. This was a situation in that. You're in those ears. When the english east india company came here just with the mirror objective of trade but slowly changed changes cards. Okay and what happened. Then siraj dolla. Okay when he became the develop of the goal then what happened. He was knowing knowing the greatest discrepancies. Now what was that. Ben goal.
"india" Discussed on Nationalism in India
"Of free india has come through now he said father of a nation in this holy war of india's liberation we ask for your blessing and good good wishes so he was very optimistic but all this was shattered to the ground. Why what happened. When japan and germany was being defeated in the war which war world war two and all the scores the retreat of irony right so this was a new thing which he introduced we cannot forget his contribution the most eminent freedom fighter who advocated complete an absolute freedom when the congress leaders were considering india's freedom to come in the faces. He fought a chairs matic leader and he was the one who leaked the foundation stone off memory to the unknown warrior of assad in force at singapore on july eight nineteen forty five but then the news of his demise came on eighteen august nineteen forty five the reports scheme and the reports were telling that he was being killed in aircrash over taiwan. Then people started missing their need dodgy. His presence continued even in his absence. That was the aura of the straits leader. Many things are there. The will be learning more about many others. Many incidents all these incidents teaches us a lot about the history stay connected to meet the no more until then take care of yourself and but by..
"india" Discussed on Nationalism in India
"Hello everyone, welcome back all of you to 10,000 of my podcasts. Hope you all are fine and taking very good care of yourself. Very good. Find your spirit and no challenge will keep you from achieving your goals. Well, the statement is rightly upped for the congressman men. As they formed their ministries and changed the psychology more in the country. People felt as if they were breathing the very air of victory thanks to all of them. All this increased their prestige. During the same time, the war clouds gathered in Europe from 1938 onwards. So the time constrained was something which became very apparent or I can say more reprint with this kind of change. So the hard to act rapidly. The past you pea tendency act in October 1939 and now tenon could no longer be arrested for non payment of rent, thanks to them. As fully committed to the socialist approach, they undertook the social reform for harrigan's children of God. And passed the laws, which enabled their entry in temples. Their assistance in public offices right, they paid a lot of attention to primary technical and higher education. They have taken a food to develop the planning committee, the national planning committee, appointed by suppression pose. To understand in a brief, they initiated mass political activity. In the known master phase, so that people should retain their confidence. For what, for achieving the independence, but that, but 28 months rule ended with the resignation of Congress ministries. In October 1939, why? The main one of the main reason was the political crisis erupted by World War II another was we will be learning now. Here, my focus of attention is to put it session. Of Congress, which was held from 8 to 12 March 1939. Subhash and repose. He was one of the contestant for the president. Ship of Congress and the other one was put to be seater Maya. Standing against him on behalf of grand PG. He was firmly in a belief that the coming of international crisis would give India opportunity for achieving Emancipation. And this kind of crisis is rare in history. So the time is ripe for the revolution. He wanted to give 6 month ultimatum to the British government to grant national demand for independence and in case if it will not do so then it will be followed by the launch of CDM CDM civil disobedience movement. This was his belief. But he was knowing something different, his perceptions deferred. He believed that another round of mass struggle is necessary to win freedom, but he was very clear at the same time, the current shin. The corruption, the indiscipline. Which had taken root within the Congress had vitiated conference capacity to fight. So he was knowing the weakness of Congress, which was very rampant, so even when the presidentship election so passionate about resigned as he knew that he could not lead to organization on his own. And he formed four which block within the Congress. And this was a new party within the Congress. And when he gave a call for all interpreters on 9 July against all in their Congress committee resolution, working committee took disciplinary action against him debarring him from holding any office in Congress for three years. So this was done and on the other hand, World War II had already erupted. And narcissus forces they were showing their threats to the people. They were making people victims of war. Indians wanted to help, but they kept themselves aside from this Y as they knew the very important fact that they themselves didn't gain independence yet. So that is why they have tried to keep themselves aside. But the poor situation worsened. And the British government sent our mission in March 1942 to India to secure whose cooperation, India's corporation and this. What happened grips announced that the emo British policy in India was the earliest possible realization of self government in India. The draft declaration he brought with him was disappointing this was the aim, but the draft which he brought had something disappointing, what was that? Let us understand. He promised, with the draft, where the declaration was there, the declaration promised that the India dominion status and the constitution making body after the war whose members would be elected by the provincial assemblies and nominated by the rulers in case were princely states. The Pakistan demand was a commodity. Now here again, a very important thing, which was there. Within the declaration, the Pakistan demand, the Pakistan demand was a commodity by the provision that any province, which was not prepared to accept the new constitution that any province which was not prepared to accept the new constitution would have the right to sign a separate agreement with the British regarding its future status. So the negotiations between the trips and the Congress leaders broke down. The British government. Also refused to accept the demand for the immediate transfer of effective power to the Indians. So dear all, this mission was just a mission to assault Indians on communal grounds. The failure of crypts in April 1942 led to the launch of a very important movement in August and we all know this very real quick into a moment. Hill, it was followed by the rest of leaders. Repression.
"india" Discussed on Nationalism in India
"The <Speech_Music_Female> <Advertisement> <Speech_Female> <SpeakerChange> <Speech_Music_Male> <Music> arrest of Congress leaders <Speech_Music_Female> <Advertisement> in the Northwest <Speech_Female> <Advertisement> Frontier <Speech_Female> <Advertisement> Province, <Speech_Female> <Advertisement> led <SpeakerChange> again <Speech_Female> <Advertisement> to <Speech_Music_Female> master <Speech_Music_Female> demonstrations <Speech_Music_Female> <Speech_Female> of unprecedented <Speech_Female> magnitude <Speech_Female> in Peshawar. <Speech_Music_Female> <Advertisement> <Speech_Female> <Advertisement> Peshawar demonstrations <Speech_Music_Female> <Advertisement> are <Speech_Music_Female> significant here. <Speech_Music_Female> Why? <Speech_Music_Female> <Advertisement> <SpeakerChange> Because <Speech_Female> <Advertisement> it was here <Speech_Female> that the soldiers <Speech_Female> of girl valley <SpeakerChange> regiments <Speech_Female> refused <Speech_Female> to fire <Speech_Music_Female> on <Speech_Music_Female> unarmed route. <Speech_Music_Female> <Speech_Female> Now the government <Speech_Female> was <Speech_Music_Female> <Advertisement> not <Speech_Music_Male> clear. <Speech_Female> <Speech_Female> <Speech_Female> On what cores <Speech_Female> it should <SpeakerChange> follow. <Speech_Music_Female> <Speech_Music_Female> Right. <Speech_Music_Female> So <Speech_Female> the government <Speech_Music_Female> responded <Speech_Music_Male> <Advertisement> <Speech_Music_Female> <Advertisement> <SpeakerChange> <Speech_Music_Female> with <Speech_Music_Female> <Advertisement> the arrest of <Speech_Music_Female> Dante. <Speech_Music_Female> <SpeakerChange> <Speech_Music_Female> <Speech_Music_Female> He was being arrested <Speech_Music_Female> <Speech_Music_Female> and <Speech_Music_Female> <Speech_Music_Female> <Speech_Music_Female> meanwhile <Speech_Music_Female> <Speech_Music_Female> <Advertisement> on 21st <Speech_Music_Female> <Speech_Music_Female> may Ferrari <Speech_Music_Female> naidu <Speech_Music_Female> <Speech_Music_Female> <Speech_Music_Female> she was <SpeakerChange> <Speech_Music_Female> carrying <Speech_Music_Female> on <Speech_Music_Female> this <Speech_Music_Female> <Speech_Female> movement <Speech_Female> along with <Speech_Music_Female> number <Speech_Music_Female> of followers <Speech_Music_Female> <SpeakerChange> of Gandhi <Speech_Music_Female> Jean. <Speech_Music_Female> <Speech_Female> Right. <Speech_Female> So <Speech_Female> the moment was still <Speech_Female> going on. <Speech_Music_Female> <SpeakerChange> And <Speech_Music_Female> <Speech_Music_Female> now <Speech_Music_Female> the voice <Speech_Music_Female> Roy. <Speech_Music_Female> <Speech_Female> <Speech_Female> What he <Speech_Music_Female> did. <Speech_Music_Female> He <Speech_Music_Female> had <Speech_Female> to <Speech_Female> release Gandhi <Speech_Female> on <Speech_Female> 20 <Speech_Music_Female> 5th January <Speech_Female> <Speech_Music_Female> 1931. <Speech_Music_Female> <Speech_Music_Female> <SpeakerChange> <Speech_Music_Female> <Speech_Music_Female> And <Speech_Music_Female> that was <Speech_Female> <SpeakerChange> <Speech_Female> unconditional <Speech_Music_Female> release of Dante. <Speech_Music_Female> <Speech_Female> <Speech_Female> Right. <SpeakerChange> <Speech_Female> So he was being <Speech_Female> released for <Speech_Female> <SpeakerChange> one of the <Speech_Music_Female> important <Speech_Music_Female> part <Speech_Music_Female> <Speech_Female> <Speech_Female> and you <Speech_Music_Female> all know <SpeakerChange> it very <Speech_Music_Female> well. It was <Speech_Music_Female> <Speech_Female> <Speech_Female> the <Speech_Music_Female> fourth night <Speech_Music_Female> long discussion <Speech_Music_Female> <Speech_Music_Female> between. <Music> <Music> <Speech_Music_Female> <SpeakerChange> <Speech_Music_Female> <Speech_Female> The <Speech_Music_Female> members the working <Speech_Music_Female> committee <Speech_Music_Female> members of <Speech_Music_Female> Gandhi. <Speech_Music_Female> <SpeakerChange> <Speech_Female> <Speech_Female> To initiate <Speech_Female> the discussions <Speech_Music_Female> with voice Roy, <Speech_Female> <Advertisement> culminated <Speech_Female> on 5th <Speech_Female> March 1931 <Speech_Music_Female> <SpeakerChange> <Speech_Music_Female> in Gandhi <Speech_Music_Female> event. <Speech_Music_Female> And this <Speech_Music_Female> was <Speech_Music_Female> described <Speech_Music_Female> as a truth <Speech_Music_Female> and a provisional <Speech_Music_Female> settlement. <Speech_Music_Female> With <SpeakerChange> this, it <Speech_Music_Female> was decided that <Speech_Music_Female> <Speech_Female> <Speech_Music_Female> the Congress <Speech_Female> will get <Speech_Female> participation <Speech_Female> in the second <Speech_Female> round table <Speech_Female> conference in London <Speech_Female> and <Speech_Female> <Speech_Female> for this <Speech_Female> it has <Speech_Female> to end <Speech_Music_Female> CDM. <Speech_Music_Female> <Speech_Music_Female> <Speech_Music_Female> But in the <Speech_Music_Female> second round table <Speech_Female> <Advertisement> conference <Speech_Female> <Advertisement> when Gandhi <Speech_Female> <Advertisement> attended with sir ogen <Speech_Female> <Advertisement> naidu, <Speech_Female> it proved to <Speech_Music_Female> be a futile <Speech_Music_Female> <SpeakerChange> <Speech_Music_Female> effort <Speech_Music_Female> for them <Speech_Female> as the British <Speech_Music_Female> did not <Speech_Music_Female> honor their <Speech_Music_Female> demands. <Speech_Music_Female> <Speech_Female> <Speech_Female> Especially these demands <Speech_Female> and <Speech_Music_Female> voice aroy <SpeakerChange> willington <Speech_Music_Female> <Advertisement> adopted the <Speech_Music_Female> <Advertisement> policy of repression. <Speech_Music_Female> <Advertisement> <Speech_Music_Female> <Advertisement> <Speech_Music_Female> <Advertisement> And Gandhi, <Speech_Music_Female> <Speech_Music_Female> when he came back, <Speech_Music_Female> <Advertisement> he again <Speech_Female> resumed <Speech_Music_Female> <Advertisement> CDM <Speech_Music_Female> <Advertisement> in 1932, <Speech_Music_Female> but obviously <Speech_Music_Female> <Speech_Music_Female> this <Speech_Female> <SpeakerChange> is <Speech_Music_Female> not organization. <Speech_Music_Female> <Speech_Music_Female> <SpeakerChange> <Speech_Music_Female> <Speech_Music_Female> As <Speech_Music_Female> it was in <Speech_Music_Female> first phase. <Speech_Music_Female> <Speech_Music_Female> <SpeakerChange> <Speech_Female> <Speech_Music_Female> It continued <Speech_Music_Female> for 6 months. <Speech_Female> <Speech_Female> And on <Speech_Female> 14, July 1933 <Speech_Female> <Advertisement> Gandhi <Speech_Music_Female> <Advertisement> withdrew <Speech_Female> mass at the <Speech_Female> moment <Speech_Music_Female> seized <Speech_Female> completely on <Speech_Female> 7th April <Speech_Female> 1934. <Speech_Female> <Speech_Female> <Speech_Female> But to <Speech_Music_Female> conclude this, <Speech_Female> <Speech_Female> <Speech_Music_Female> I must say here <Speech_Music_Female> <Speech_Female> that <Speech_Female> with this movement, <Speech_Female> <Speech_Female> people of India <Speech_Female> <Speech_Music_Female> rediscover <Speech_Music_Female> this <SpeakerChange> strength <Speech_Music_Female> to <Speech_Music_Male> fight <Speech_Music_Male> British. <Speech_Music_Female> <Speech_Female> <Speech_Female> <Advertisement> For Indian women, <Speech_Music_Female> the movement was the <Speech_Music_Female> most <Speech_Music_Female> liberating <Speech_Music_Female> experience to <Speech_Music_Female> the date. <Speech_Music_Female> <Speech_Music_Female> <SpeakerChange> As <Speech_Female> it <Speech_Female> marked <Speech_Music_Female> their <SpeakerChange> entry <Speech_Music_Female> into the public's <Speech_Music_Female> space, <Speech_Music_Female> <SpeakerChange> <Speech_Female> <Speech_Female> this <Speech_Female> also <Speech_Female> was important, <Speech_Female> movement <Speech_Female> as it marked <Speech_Female> critically and <Speech_Female> important stage <Speech_Female> in the progress <SpeakerChange> of <Speech_Music_Female> any imperative <Speech_Music_Female> struggle. <Speech_Music_Female> <Speech_Female> So <Speech_Female> <Advertisement> that is why <Speech_Female> <Advertisement> this moment is <Speech_Female> <Advertisement> important. <Speech_Female> <Advertisement> What happened <Speech_Female> after this movement, <Speech_Female> we will be <Speech_Female> learning. We will <Speech_Female> be having very <Speech_Female> interesting discussion. <Speech_Music_Female> <Speech_Female> <Speech_Female> After <Speech_Female> the year 1934 <Speech_Music_Female> <Speech_Female> <Speech_Female> <Advertisement> stay <Speech_Female> connected to me <Speech_Music_Female> <Advertisement> to no <Speech_Music_Female> <Advertisement> more <Speech_Music_Female> <Advertisement> until then take <Speech_Music_Female> care <Speech_Female> of yourself <Speech_Music_Female> <SpeakerChange> and <Speech_Music_Female> bye <Music> bye.
"india" Discussed on Nationalism in India
"To the 7th episode, just my podcast. Ganglia nationalism. Hope you all a fine in taking very good care of yourself. Very good. Now today, dear old, we are going to learn a very interesting story related to our constitution. The rule book. So keep patience to know about it. Okay. Suppose you're watching the game. For instance, cricket. And recently, we all have enjoyed watching the eye pill. And we have seen the child pairs and the audience. We're excited in watching the game. As the all of playing so nicely on an disciplined way. Isn't it? Okay. So there were no rules in this game. Would you have enjoyed it? Obviously, your answer would be a big no. Yes, Friends. Rules are important. Not only in the game, but in our lives too. Rules are important in the smooth, functioning of a government. Of a country. Right. So here we are to learn about a very important fact that although our constitution our republic can constitution was being adopted by the constituent assembly on 26th November 1949, but why did it come into force on 26th January 1950? Why do we celebrate the public day on 26th January? Do you want dancer for this? Then listen to me. Carefully. Very good. The year 1927 was very important. In the history of Indian nationalism. As in this year, Simon commission was being appointed by the British. Now why did it come? And this year, it was being appointed to report on the working of Indian constitution. Established by Government of India act of 19 19. The Government of India at 90 19 established diarrhea. So now this commission was supposed to send report about the working of Indian constitution. It consisted of 7 members, four conservatives, two labor rights and one liberal. So it was indeed an Indian statuary commission under the chairmanship of Sir John Simon. But the strange fact was that not even a single Indian member was being included in it. And all these things outraged. Home. Obviously, Indians. They were outraged at their exclusion from commission. And that is why they raise this Logan, go back Simon. And during this time, in December 1928 at the annual session of Congress in Calcutta. Java Holland nehru subhas and both and set the morti. But by large number of delegates pressed for the acceptance of only one slogan bones well arched or the complete independence as the goal of Congress. Obviously, did you support it? Them. And during this time, which time during 1929, he went on Mars contact tools to emphasize on his constructive programs related to cardi in the Muslim community. So that he could prepare the people for direct political action. Right. So the government retaliated by arresting around 31 label leaders and it was all condemned by the leaders involving gun teaching. So on the banks of the river Ravi. Add to midnight on 31st December 1929. Tricolor flag of independence was unfold, amidst the cheers and jubilation. Now what happened in 1929 that why engines were so excited as born so arch resolution was passed in the Lahore session in December 1929 and Java Hal nehru was elected as its president. Of Congress, obviously. And it was a month later that on January 26th, 1930, a pledge of Indian independence was taken and this pledge was also known as Declaration of Independence. So this pledge was important and one of the important lines of this I'm just telling you all. We believe that it is the inalienable right of the injured people as of any other people to have freedom and to enjoy the fruits of the toil and have their necessities of life. So that they may have full opportunity of growth. So these were the initial lines taken as a pledge. For the independence, okay? So with this, the image it affects that. Walking, gummy of Congress was authorized to launch a program of very important powerful program. Of civil disobedience, movement. Yes. We will be discussing in our later episodes about it to know more about it. Please stay connected till then, take a very good care of yourself and bye bye..
"india" Discussed on Nationalism in India
"Finally, what happened? Declaring the naru report represented Hindu interest. He can solid it. Former Dali gender, yes, you can solid dated all the communal demands made by different communal organization at different times into a single document and that is known as genders 14 points. And this was something which formed the basis of all future communal proof of cancer in the subsequent years. Although we have learned, we have seen the child national leadership from dargah naji to Gandhi G and eru they have tried to have a secular ground for all indignation, but efforts were all in vain when this, these points came up. And Congress did make Hindu Muslim unity, one of the three basic items of nationalist college, but candidly and Congress provided no deeper analysis of the communal phenomena. They had no idea for this. And in the coming years, what happened we all know very nicely, and it's very sad, but yes, as it is a part of our history or the nationalism of India, we need to understand what we need. We need to associate ourselves to understand all these. To know to learn more, be connected to me and take a very good care of yourself..
"india" Discussed on Nationalism in India
"Hello everyone, welcome welcome welcome all of you to my podcast. Nationalism and India hope you all are listening to all the episodes of my podcast, nationalism and India and are really enjoying it. Yes. I'm just assuming your answer is, yes. And you will not break my trust. Thank you. It's my belief, so I replied on your behalf. Now stop smiling and listen to my question. Yes, dear all I'm always in a habit of asking question. Why? As an a curious child with this curiosity, I always ask questions so that I could learn something, something from each moment of life. And this is important for all of us. So keep learning and listen to me very carefully. How many of you love to celebrate Independence Day? We all of this love to celebrate the state and that is obvious isn't it, yes, especially we get excited when this day is just approaching. But bad but my question is, have we ever thought the how we have achieved the stay? Probably, we have tried to think about it. But if not, then it's request from my side to please, please, please rethink about this. This is very important for us as this day makes us feel proud of the very important fact that to be all our Indian so we need to think about this. The only thing which helped us to achieve this day was our strength. Our strength and using the word art strength. The real strength was galvanized in the millions of the people of all classes. And it came through continuous struggle. And if you want to learn about the ideology involved in this struggle, then only thing you have to do is, may I tell you, yes, I should tell you. That please listen to the episodes of nationalism in India. Right. Okay. Indignation movement. Is one of the best examples of the creation of an extremely wide movement. With the comedy in which divers political ideological currents could coexist. So dear old, it's all legacy. It belongs to all of us. And that is why we are proud of this. So let us remember together those moments of past, which made us smile in the present. Happy learning..
"india" Discussed on Nationalism in India
"The trade dispute bill. That would reduce the civil liberties of the citizens. So they proclaimed with this to meet their fear they have done this. Okay? They are fearless defined attitudes with the slogan in collapse in the bad. Which meant dong dong with embolism. Was something which was. The source of courage for them. And they were being arrested, and other things so they Raj kuru were hanged on 23rd March 1931. About them. Work with each other and rora had written has written philosophy of warm, a book where you will find a detail discourse about them. One of the important lines of buggered singer just quoting for you all here. On second 1931. His declared that apparently I have acted like the terrorist, but I'm not a dead artist. Let me announce with all of my strength at my command that I am not a terrorist, and I never was, except, perhaps, in the beginning of my revolutionary career, and I'm convinced that we can not gain anything to those methods. So that is why his work was deeply remembered by the people. Today also we remember him because of his work. He was the one who established Punjab nodule and behaved no juvenile hearted Sabah in 1926. To carry out open political work among the youth, present and workers. So this was something you need remarkable. They wanted to do something different. And with each other and boras, statement, if you will, listen, you will definitely feel something about them. Independent social political economic aimed at establishing a new order of society in which political economic exploitation will be an impossibility. This was the statement and with this he has also tried to explain us that they have given a different meaning to the world revolution. Burger King and his comrades made a major advance in broadening the scope and the definition revolution. Revolution was no longer equated with the tendency of violence. Its first objective was by only one thing that was national liberation. The overthrow of imperialism. And that new meaning was given by the revolutionary nationalism, which happens just as an after effects of incident with Joel. Isn't it? So with this we have learned here that the deep backdrop is courage and the determination and the sense of sacrifice, stirred the Indian people. And all this helped to spread the nationalist consciousness in the land. And in northern India, the spread of socialists consciousness. And this was all we have all to revolutionaries. We should never forget this. Deny more about this face of nationalism, peace be connected with me. And take a very good care of yourself till then, bye bye..