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Private equity ghouls have a new way to steal from their investors

Private equity is quite a racket. PE managers pile up other peoples’ money — pension funds, plutes, other pools of money — and then “invest” it (buying businesses, loading them with debt, cutting wages, lowering quality and setting traps for customers). For this, they get an annual fee — 2% — of the money they manage, and a bonus for any profits they make.

On top of this, private equity bosses get to use the carried interest tax loophole, a scam that lets them treat this ordinary income as a capital gain, so they can pay half the taxes that a working stiff would pay on a regular salary. If you don’t know much about carried interest, you might think it has to do with “interest” on a loan or a deposit, but it’s way weirder. “Carried interest” is a tax regime designed for 16th century sea captains and their “interest” in the cargo they “carried”:

https://pluralistic.net/2021/04/29/writers-must-be-paid/#carried-interest

Private equity is a cancer. Its profits come from buying productive firms, loading them with debt, abusing their suppliers, workers and customers, and driving them into ground, stiffing all of them — and the company’s creditors. The mafia have a name for this. They call it a “bust out”:

https://pluralistic.net/2023/06/02/plunderers/#farben

Private equity destroyed Toys R Us, Sears, Bed, Bath and Beyond, and many more companies beloved of Main Street, bled dry for Wall Street:

https://prospect.org/culture/books/2023-06-02-days-of-plunder-morgenson-rosner-ballou-review/

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How to Calculate Profit in Crypto Mining?

In today's cryptocurrency landscape, the pursuit of profitability is paramount for mining endeavors. Initially, cryptocurrencies like Bitcoin were easily mineable using personal computers and central processing units (CPUs). However, with the expanding market, cryptocurrency mining has become significantly more competitive. This evolution gave rise to the necessity for new categories of mining hardware, first in the form of graphics processing units (GPUs) and later application-specific integrated circuit (ASIC) miners.

As the number of cryptocurrency mining enthusiasts grew, the complexity of mining also increased, placing a strong emphasis on profitability as a fundamental consideration. If you share this enthusiasm for mining and seek an in-depth understanding of profitability, this blog is tailor-made for you. Our objective is to delve into the intricacies of profitability, starting from the basics—defining profitability, highlighting its significance, elucidating the methods for its calculation, and exploring the factors that influence it. Read the full blog here by Asic Marketplace as we delve into the world of cryptocurrency mining and profitability to gain a comprehensive understanding.

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El Salvador’s Bitcoin Adoption Starts To Pay Off, Profits Exceed $3.6 Million

Share this article El Salvador, the first country to adopt Bitcoin as legal tender, reports profits from its investment in the cryptocurrency. El Salvador president, Nayib Bukele, announced on Monday that his country had profited more than $3.6 million from its bitcoin investment, the cryptocurrency it adopted as legal tender last September. Bukele said that his government had bought 550…

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My financial advise for you in the current climate and impending recession is to invest in cats instead of things like the stock market or real estate, cats have more value since they can purr, give you cuddle and kisses, also they are cute.

Bitcoin Price Plummets 77% in Asian Session, Triggering $200 Million in Liquidations

Bitcoin Price Crashes 77% in Asian Session, Sets Off $200 Million in Liquidations 😱

Bitcoin took a sudden nosedive during the Asian session, dropping 7.74% and briefly touching the $40,400 mark. This unexpected drop led to the liquidation of nearly $200 million worth of positions, causing significant market volatility. With the upcoming US Consumer Price Index (CPI) and the Federal Reserve’s interest rate decision, high volatility is anticipated to continue.

Higher interest rates often have an adverse impact on the price of gold, as they increase the opportunity cost of holding the precious metal rather than investing in interest-bearing assets or depositing cash in a bank. Additionally, they generally strengthen the US Dollar, which in turn lowers the price of gold since it is denominated in dollars. It will be crucial to monitor the Fed’s interest rate decisions and their implications on the price of Bitcoin.

Bitcoin is currently trading around $42,289, hovering around the midpoint of its 77% crash during the bear market. This price level is pivotal and may trigger significant take-profit or sell orders, which could result in market-wide liquidations. Market participants should remain cautious as the struggle between bulls and bears intensifies. It is worth noting that a major correction in Bitcoin price is not expected until it reaches the 62% retracement level at $48,733. However, today’s movements could catch many overeager investors off-guard. The $50,000 psychological level may be a plausible area for market-wide profit-taking to occur.

Read the original article #Bitcoin #cryptocurrency #BitcoinPrice #marketvolatility