FBI Requests New Funding To Investigate ... - Bitcoin Insider

Do I sound more like a Democrat or Republican?

Here are my positions -
  1. Should the federal government institute a mandatory buyback of assault weapons? No
  2. Should a business be able to deny service to a customer if the request conflicts with the owner’s religious beliefs? If they are not engaged in interstate commerce, the Federal Government shouldn't hold any power to legislate on the matter. At the state level (and federal if interstate) Yes, so long as they are not discriminating on the basis of race, sex, sexual orientation, transgender, or other uncontrollable factors.
  3. Should the government continue to fund Planned Parenthood? Yes, with oversight to make sure the money is going o where it is supposed to.
  4. Should universities provide “trigger warnings” and “safe spaces” for students? No
  5. Do you support the death penalty? Generally no, with the possible exception of treason during an insurrection or invasion.
  6. Should the government support a separation of church and state by removing references to God on money, federal buildings, and national monuments? No, this is referring to God as a concept.
  7. Should businesses be required to have women on their board of directors? No
  8. Do you support the legalization of same sex marriage? Yes, through a constitutional amendment. At the state level, yes.
  9. Should the military allow women to serve in combat roles? Yes as long as they meet the same physical standards as men and pass the same tests.
  10. Should marital rape be classified and punished as severely as non-marital rape? This should be a state-level issue, but yes.
  11. Should terminally ill patients be allowed to end their lives via assisted suicide? Only if there is no chance of survival.
  12. Should hate speech be protected by the first amendment? It is, and yes.
  13. Should gay couples have the same adoption rights as straight couples? Yes
  14. Should states be allowed to display the Confederate flag on government property? They have the right, but I would prefer my state not.
  15. Should women be allowed to wear a Niqāb, or face veil, to civic ceremonies? I am not fully certain. I am leaning towards yes, as long as another woman has verified her identity.
  16. Should welfare recipients be tested for drugs? Only if they have a criminal history related to drug abuse.
  17. Should employers be required to pay men and women the same salary for the same job? This shouldn't be a federal issue unless it involves interstate commerce. But at the state-level (and federal if interstate), Yes if they work the same positions and for the same hours and conditions.
  18. Should there be fewer or more restrictions on current welfare benefits? More, reform it so it supplements, rather than replaces, an income.
  19. Should the government raise the federal minimum wage? The federal government should not have the power to enact minimum wage laws unless it involves interstate commerce, in which case yes, it should be $15 an hour. Each state should be able to set its own laws on the matter.
  20. Should the government make cuts to public spending in order to reduce the national debt? No.
  21. Should the U.S. increase tariffs on imported products from China? Yes, China should be punished for violations of international law.
  22. Should businesses be required to provide paid leave for full-time employees during the birth of a child or sick family member? At the state-level, yes. At the federal level, yes, if they are involved in interstate commerce.
  23. Should the government increase the tax rate on profits earned from the sale of stocks, bonds, and real estate? Capital gains should be taxed the same as ordinary income.
  24. Should the current estate tax rate be decreased? No, I am satisfied with the current system.
  25. Should the U.S. continue to participate in the North American Free Trade Agreement (NAFTA)? No.
  26. Should the President offer tax breaks to individual companies to keep jobs in the U.S.? No, but put tariffs on all imported goods.
  27. Should the government prevent “mega mergers” of corporations that could potentially control a large percentage of market share within its industry? No.
  28. Do you believe labor unions help or hurt the economy? Help, in theory, but are sometimes harmful.
  29. Should the government break up Amazon, Facebook and Google? No.
  30. Should the government add or increase tariffs on products imported into the country? Yes, all imported goods should be taxed 20%.
  31. Should the U.S. raise or lower the tax rate for corporations? Keep at current rate, but close all loopholes.
  32. Should the government require businesses to pay salaried employees, making up to $46k/year, time-and-a-half for overtime hours? At the state level, yes. At the federal level, only if they are involved in interstate commerce.
  33. Do you support the Trans-Pacific Partnership (TPP)? No.
  34. Would you favor an increased sales tax in order to reduce property taxes? No.
  35. Should pension plans for federal, state, and local government workers be transitioned into privately managed accounts? No.
  36. Should the government subsidize farmers? For now, yes, but once we get out of trade deals, put tariffs on all imports, and tax all interstate sales, subsidies should be ended.
  37. Should the government use economic stimulus to aid the country during times of recession? No, recessions are natural cycles.
  38. Should the Federal Reserve Bank be audited by Congress? Yes, we should know where that money is going.
  39. Should the IRS create a free electronic tax filing system? Yes.
  40. Should an in-state sales tax apply to online purchases of in-state buyers from out-of-state sellers? No, the federal government should not enact an intrastate sales tax.
  41. Should pension payments be increased for retired government workers? Yes, adjust them yearly for inflation.
  42. Should U.S. citizens be allowed to save or invest their money in offshore bank accounts? Yes, as long as all income is reported.
  43. Should the government classify Bitcoin as a legal currency? Yes, but maintain the system of the dollar and cash as a legal currency.
  44. Should the government acquire equity stakes in companies it bails out during a recession? No.
  45. Do you support charter schools? No.
  46. Should the government decriminalize school truancy? No for Elementary school. For middle and high school, no social studies and English, yes for everything else.
  47. Should there be more restrictions on the current process of purchasing a gun? States and the federal government should not be allowed to enact any restrictions on black powder weapons or ammunition for them. For cartridge firearms, the federal government should only have the power to regulate interstate sale of them. At the state level, cartridge firearms should require a license to obtain. The process should involve passing a mental and physical health exam, having a decent criminal record, and passing a written and shooting exam. Handguns and centerfire semi-automatic weapons should have higher standards for licensing and should be registered before being obtained, but automatic CCW to anyone who has a license for a handgun. fully automatic weapons should be illegal to sell, except to collectors, who must meet an even higher standard to obtain.
  48. Should victims of gun violence be allowed to sue firearms dealers and manufacturers? No, this is just dumb.
  49. Should the President of the United States have the power to deploy military troops in order to stop protests? If any state governments are overthrown, yes. Otherwise, only if the Governor of a state requests assistance.
  50. Should teachers be allowed to carry guns at school? Yes if they have a valid license 9see above).
  51. Should it be illegal to burn the American flag? No, but I have no respect for anyone who does.
  52. Should the state government order schools to provide online only classes in order to combat coronavirus? No, let each school decide.
  53. Should there be term limits set for members of Congress? Yes, maximum four terms for the House, and maximum two for the Senate.
  54. Should people on the “no-fly list” be banned from purchasing guns and ammunition? No, this denies one of due process rights.
  55. Are you in favor of decriminalizing drug use? Yes, for most but not all drugs (basically the really bad ones, e.g., meth, heroin, etc;)
  56. Should the NSA (National Security Agency) be allowed to collect basic metadata of citizen’s phone calls such as numbers, timestamps, and call durations? Only with a warrant and probable cause of a crime.
  57. Should the Supreme Court be reformed to include more seats and term limits on judges? No, this is just trying to pack the court, which should not be politicized.
  58. Should the government regulate social media sites, as a means to prevent fake news and misinformation? No, this violates free speech.
  59. Do you support the Patriot Act? Not the clause that allows warrantless searches.
  60. Should the government be allowed to seize private property, with reasonable compensation, for public or civic use? Only for public land and not for privatization, and the owner must be paid for losses in full.
  61. Should college sports be played in the fall of 2020? Yes, but let teams decide.
  62. Should local police increase surveillance and patrol of Muslim neighborhoods? No, this just breeds resentment.
  63. Should the government raise the retirement age for Social Security? No
  64. Should the government pass laws which protect whistleblowers? Yes, so long as national security isn't compromised.
  65. Should the redrawing of Congressional districts be controlled by an independent, non-partisan commission? Yes, gerrymandering breeds corruption.
  66. Should internet service providers be allowed to speed up access to popular websites (that pay higher rates) at the expense of slowing down access to less popular websites (that pay lower rates)? If they are privately owned, yes.
  67. Should the U.S. government grant immunity to Edward Snowden? For his leaks on domestic surveillance, yes. Some other things, maybe not.
  68. Should foreign terrorism suspects be given constitutional rights? Yes.
  69. Do you support the killing of Iranian Major General Qassem Soleimani? Yes.
  70. Should the U.S. continue to support Israel? Yes.
  71. Should the U.S. accept refugees from Syria? Yes, but only after extensive background checks to confirm that they are not a threat and are genuine refugees and not economic migrants.
  72. Should the government increase or decrease military spending? Decrease by streamlining it, and making it more efficient, through eliminating wasteful spending.
  73. Should the military fly drones over foreign countries to gain intelligence and kill suspected terrorists? No, unless said country has approved it, and American citizens should be given fair trials.
  74. Should the military be allowed to use enhanced interrogation techniques, such as waterboarding, to gain information from suspected terrorists? No.
  75. Should every 18 year old citizen be required to provide at least one year of military service? No, but maintain the Selective Service system and allow states to draft people if necessary.
  76. Should Jerusalem be recognized as the capital of Israel? Yes.
  77. Should the U.S. go to war with Iran? No, they should be disarmed through diplomatic channels.
  78. Should the U.S. remain in the United Nations? Yes.
  79. Should the U.S. remain in NATO? Yes.
  80. Should the U.S. defend other NATO countries that maintain low military defense budgets relative to their GDP? Yes, but get them to pay their share.
  81. Should the United States pull all military troops out of Afghanistan? If the Afghan government wants us to, then yes.
  82. Should the U.S. sell military weapons to India in order to counter Chinese and Russian influence? Yes.
  83. Should the U.S. conduct military strikes against North Korea in order to destroy their long-range missile and nuclear weapons capabilities? No, use all diplomatic means first.
  84. Do you support President Obama’s move to lift the trade and travel embargo on Cuba? Yes.
  85. Should it be illegal to join a boycott of Israel? No.
  86. Should the government cancel production of the F-35 fighter? Yes, until the price has been lowered or our deficits have been drastically reduced, and its hardware is drastically improved.
  87. Do you support the Patient Protection and Affordable Care Act (Obamacare)? No.
  88. Should people be required to work in order to receive Medicaid? No.
  89. Should cities open drug “safe havens” where people who are addicted to illegal drugs can use them under the supervision of medical professionals? Yes.
  90. Do you support the legalization of Marijuana? The federal government should not have the power to ban marijuana, except to regulate or ban its interstate sale, which it shouldn't at the state level, legalize.
  91. Should the government regulate the prices of life-saving drugs? No.
  92. Should health insurers be allowed to deny coverage to individuals who have a pre-existing condition? At the federal level, no, if they are operating in interstate commerce. At the state level, no.
  93. Should there be more or less privatization of veterans’ healthcare? Less, improve the current system.
  94. Should the federal government increase funding of health care for low income individuals (Medicaid)? Yes.
  95. Should the federal government be allowed to negotiate drug prices for Medicare? Yes.
  96. Should the government fund the World Health Organization? Yes.
  97. Should the government increase environmental regulations to prevent climate change? No.
  98. Should researchers be allowed to use animals in testing the safety of drugs, vaccines, medical devices, and cosmetics? Yes, but not for cosmetics.
  99. Should the U.S. expand offshore oil drilling? No, but maintain current rigs.
  100. Do you support the use of hydraulic fracking to extract oil and natural gas resources? Allow it to be legal, but don't subsidize.
  101. Should the government stop construction of the Dakota Access pipeline? No.
  102. Should disposable products (such as plastic cups, plates, and cutlery) that contain less than 50% of biodegradable material be banned? No.
  103. Should drilling be allowed in the Alaska Wildlife Refuge? No.
  104. Should cities be allowed to offer private companies economic incentives to relocate? Yes.
  105. Should the government give tax credits and subsidies to the wind power industry? No, no industry should be favored.
  106. Should the government require children to be vaccinated for preventable diseases? No.
  107. Do you support the use of nuclear energy? Yes, lessen restrictions, but no subsidies.
  108. Should producers be required to label genetically engineered foods (GMOs)? Yes.
  109. Should illegal immigrants have access to government-subsidized healthcare? No.
  110. Should immigrants be deported if they commit a serious crime? Yes, after serving their sentence.
  111. Should illegal immigrants be offered in-state tuition rates at public colleges within their residing state? No.
  112. Should the U.S. build a wall along the southern border? No, but make a high tech surveillance barrier instead of a physical wall. This is because a physical wall would be too costly and ineffective.
  113. Should local law enforcement be allowed to detain illegal immigrants for minor crimes and transfer them to federal immigration authorities? Yes.
  114. Should sanctuary cities receive federal funding? No.
  115. Should the U.S. increase restrictions on its current border security policy? Yes.
  116. Should immigrants be required to pass a citizenship test to demonstrate a basic understanding of our country’s language, history, and government? Yes.
  117. Should children of illegal immigrants be granted legal citizenship? Yes, if they were born here.
  118. Should Muslim immigrants be banned from entering the country until the government improves its ability to screen out potential terrorists? No.
  119. Should immigrants be required to learn English? Yes, if they wish to become citizens.
  120. Should there be a temporary ban on all immigration into the United States? No, but increase border security.
  121. Should the US increase or decrease the amount of temporary work visas given to high-skilled immigrant workers? Increase, our economy relies on businesses hiring the highest skilled workers at the lowest cost.
  122. Should working illegal immigrants be given temporary amnesty? No.
  123. Should immigrants to the United States be allowed to hold dual citizenship status? Yes.
  124. Do you support Common Core national standards? Yes, but only for English and social studies.
  125. Should a photo ID be required to vote? No, but gradually update voter rolls and purge voters who are required to be according tot eh Voting Registration act of 1993.
  126. Should foreigners, currently residing in the United States, have the right to vote? No, only citizens should.
  127. Should the minimum voting age be lowered? No.
  128. Should the electoral college be abolished? No.
  129. Should the US have a mail-in ballot process for whole states in local, state, and federal elections? No.
  130. Should foreign lobbyists be allowed to raise money for American elections? No.
  131. Should there be a limit to the amount of money a candidate can receive from a donor? No.
  132. Should corporations, unions, and non-profit organizations be allowed to donate to political parties? No.
  133. Should there be a 5-year ban on White House and Congressional officials from becoming lobbyists after they leave the government? No.
  134. Should political candidates be required to release their recent tax returns to the public? No.
  135. Should funding for local police departments be redirected to social and community based programs? No, increase funding and training for police departments in higher crime rate communities
  136. Should police officers be required to wear body cameras? Yes.
  137. Should convicted criminals have the right to vote? Yes, but only after completing their sentence and probation.
  138. Should drug traffickers receive the death penalty? No.
  139. Should non-violent prisoners be released from jail in order to reduce overcrowding? Yes, but have them do community service.
  140. Do you support mandatory minimum prison sentences for people charged with drug possession? No.
  141. Should the government hire private companies to run prisons? No.
  142. Should prisons ban the use of solitary confinement for juveniles? No, but it is currently being overused
  143. Should the US assassinate suspected terrorists in foreign countries? No, capture, interrogate, and imprison them instead
  144. What is your position on Abortion? Adopt a constitutional amendment overturning Roe v Wade and allow state to enact their own laws. At the state level, abortion should be legal within the first 20 weeks, but afterwards, should be banned except for exceptional cases.
  145. Do you support affirmative action? No.
submitted by Maximum-Lingonberry2 to NoStupidQuestions [link] [comments]

Meet Brock Pierce, the Presidential Candidate With Ties to Pedophiles Who Wants to End Human Trafficking

thedailybeast.com | Sep. 20, 2020.
The “Mighty Ducks” actor is running for president. He clears the air (sort of) to Tarpley Hitt about his ties to Jeffrey Epstein and more.
In the trailer for First Kid, the forgettable 1996 comedy about a Secret Service agent assigned to protect the president’s son, the title character, played by a teenage Brock Pierce, describes himself as “definitely the most powerful kid in the universe.” Now, the former child star is running to be the most powerful man in the world, as an Independent candidate for President of the United States.
Before First Kid, the Minnesota-born actor secured roles in a series of PG-rated comedies, playing a young Emilio Estevez in The Mighty Ducks, before graduating to smaller parts in movies like Problem Child 3: Junior in Love. When his screen time shrunk, Pierce retired from acting for a real executive role: co-founding the video production start-up Digital Entertainment Network (DEN) alongside businessman Marc Collins-Rector. At age 17, Pierce served as its vice president, taking in a base salary of $250,000.
DEN became “the poster child for dot-com excesses,” raising more than $60 million in seed investments and plotting a $75 million IPO. But it turned into a shorthand for something else when, in October of 1999, the three co-founders suddenly resigned. That month, a New Jersey man filed a lawsuit alleging Collins-Rector had molested him for three years beginning when he was 13 years old. The following summer, three teens filed a sexual-abuse lawsuit against Pierce, Collins-Rector, and their third co-founder, Chad Shackley. The plaintiffs later dropped their case against Pierce (he made a payment of $21,600 to one of their lawyers) and Shackley. But after a federal grand jury indicted Collins-Rector on criminal charges in 2000, the DEN founders left the country. When Interpol arrested them in 2002, they said they had confiscated “guns, machetes, and child pornography” from the trio’s beach villa in Spain.
While abroad, Pierce had pivoted to a new venture: Internet Gaming Entertainment, which sold virtual accessories in multiplayer online role-playing games to those desperate to pay, as one Wired reporter put it, “as much as $1,800 for an eight-piece suit of Skyshatter chain mail” rather than earn it in the games themselves. In 2005, a 25-year-old Pierce hired then-Goldman Sachs banker Steve Bannon—just before he would co-found Breitbart News. Two years later, after a World of Warcraft player sued the company for “diminishing” the fun of the game, Steve Bannon replaced Pierce as CEO.
Collins-Rector eventually pleaded guilty to eight charges of child enticement and registered as a sex offender. In the years that followed, Pierce waded into the gonzo economy of cryptocurrencies, where he overlapped more than once with Jeffrey Epstein, and counseled him on crypto. In that world, he founded Tether, a cryptocurrency that bills itself as a “stablecoin,” because its value is allegedly tied to the U.S. dollar, and the blockchain software company Block.one. Like his earlier businesses, Pierce’s crypto projects see-sawed between massive investments and curious deals. When Block.one announced a smart contract software called EOS.IO, the company raised $4 billion almost overnight, setting an all-time record before the product even launched. The Securities and Exchange Commission later fined the company $24 million for violating federal securities law. After John Oliver mocked the ordeal, calling Pierce a “sleepy, creepy cowboy,” Block.one fired him. Tether, meanwhile, is currently under investigation by the New York Attorney General for possible fraud.
On July 4, Pierce announced his candidacy for president. His campaign surrogates include a former Cambridge Analytica director and the singer Akon, who recently doubled down on developing an anonymously funded, $6 billion “Wakanda-like” metropolis in Senegal called Akon City. Pierce claims to be bipartisan, and from the 11 paragraphs on the “Policy” section of his website it can be hard to determine where he falls on the political spectrum. He supports legalizing marijuana and abolishing private prisons, but avoids the phrase “climate change.” He wants to end “human trafficking.” His proposal to end police brutality: body cams.
His political contributions tell a more one-sided story. Pierce’s sole Democratic contribution went to the short-lived congressional run of crypto candidate Brian Forde. The rest went to Republican campaigns like Marco Rubio, Rick Perry, John McCain, and the National Right to Life Political Action Committee. Last year alone, Pierce gave over $44,000 to the Republican National Committee and more than $55,000 to Trump’s re-election fund.
Pierce spoke to The Daily Beast from his tour bus and again over email. Those conversations have been combined and edited for clarity.
You’re announcing your presidential candidacy somewhat late, and historically, third-party candidates haven’t had the best luck with the executive office. If you don’t have a strong path to the White House, what do you want out of the race?
I announced on July 4, which I think is quite an auspicious date for an Independent candidate, hoping to bring independence to this country. There’s a lot of things that I can do. One is: I’m 39 years old. I turn 40 in November. So I’ve got time on my side. Whatever happens in this election cycle, I’m laying the groundwork for the future. The overall mission is to create a third major party—not another third party—a third major party in this country. I think that is what America needs most. George Washington in his closing address warned us about the threat of political parties. John Adams and the other founding fathers—their fear for our future was two political parties becoming dominant. And look at where we are. We were warned.
I believe, having studied systems, any time you have a system of two, what happens is those two things come together, like magnets. They come into collision, or they become polarized and become completely divided. I think we need to rise above partisan politics and find a path forward together. As Albert Einstein is quoted—I’m not sure the line came from him, but he’s quoted in many places—he said that the definition of insanity is making the same mistake or doing the same thing over and over and over again, expecting a different result. [Ed. note: Einstein never said this.] It feels like that’s what our election cycle is like. Half the country feels like they won, half the country feels like they lost, at least if they voted or participated.
Obviously, there’s another late-comer to the presidential race, and that’s Kanye West. He’s received a lot of flak for his candidacy, as he’s openly admitted to trying to siphon votes away from Joe Biden to ensure a Trump victory. Is that something you’re hoping to avoid or is that what you’re going for as well?
Oh no. This is a very serious campaign. Our campaign is very serious. You’ll notice I don’t say anything negative about either of the two major political candidates, because I think that’s one of the problems with our political system, instead of people getting on stage, talking about their visionary ideas, inspiring people, informing and educating, talking about problems, mentioning problems, talking about solutions, constructive criticism. That’s why I refuse to run a negative campaign. I am definitely not a spoiler. I’m into data, right? I’m a technologist. I’ve got digital DNA. So does most of our campaign team. We’ve got our finger on the pulse.
Most of my major Democratic contacts are really happy to see that we’re running in a red state like Wyoming. Kanye West’s home state is Wyoming. He’s not on the ballot in Wyoming I could say, in part, because he didn’t have Akon on his team. But I could also say that he probably didn’t want to be on the ballot in Wyoming because it’s a red state. He doesn’t want to take additional points in a state where he’s only running against Trump. But we’re on the ballot in Wyoming, and since we’re on the ballot in Wyoming I think it’s safe—more than safe, I think it’s evident—that we are not here to run as a spoiler for the benefit of Donald Trump.
In running for president, you’ve opened yourself up to be scrutinized from every angle going back to the beginning of your career. I wanted to ask you about your time at the Digital Entertainment Network. Can you tell me a little bit about how you started there? You became a vice president as a teenager. What were your qualifications and what was your job exactly?
Well, I was the co-founder. A lot of it was my idea. I had an idea that people would use the internet to watch videos, and we create content for the internet. The idea was basically YouTube and Hulu and Netflix. Anyone that was around in the ‘90s and has been around digital media since then, they all credit us as the creators of basically those ideas. I was just getting a message from the creator of The Vandals, the punk rock band, right before you called. He’s like, “Brock, looks like we’re going to get the Guinness Book of World Records for having created the first streaming television show.”
We did a lot of that stuff. We had 30 television shows. We had the top most prestigious institutions in the world as investors. The biggest names. High-net-worth investors like Terry Semel, who’s chairman and CEO of Warner Brothers, and became the CEO of Yahoo. I did all sorts of things. I helped sell $150,000 worth of advertising contracts to the CEOs of Pepsi and everything else. I was the face of the company, meeting all the major banks and everything else, selling the vision of what the future was.
You moved in with Marc Collins-Rector and Chad Shackley at a mansion in Encino. Was that the headquarters of the business?
All start-ups, they normally start out in your home. Because it’s just you. The company was first started out of Marc’s house, and it was probably there for the first two or three months, before the company got an office. That’s, like, how it is for all start-ups.
were later a co-defendant in the L.A. County case filed against Marc Collins-Rector for plying minors with alcohol and drugs, in order to facilitate sexual abuse. You were dropped from the case, but you settled with one of the men for $21,600. Can you explain that?
Okay, well, first of all, that’s not accurate. Two of the plaintiffs in that case asked me if I would be a plaintiff. Because I refused to be a part of the lawsuit, they chose to include me to discredit me, to make their case stronger. They also went and offered 50 percent of what they got to the house management—they went around and offered money to anyone to participate in this. They needed people to corroborate their story. Eventually, because I refused to participate in the lawsuit, they named me. Subsequently, all three of the plaintiffs apologized to me, in front of audiences, in front of many people, saying Brock never did anything. They dismissed their cases.
Remember, this is a civil thing. I’ve never been charged with a crime in my life. And the last plaintiff to have his case dismissed, he contacted his lawyer and said, “Dismiss this case against Brock. Brock never did anything. I just apologized. Dismiss his case.” And the lawyer said, “No. I won’t dismiss this case, I have all these out-of-pocket expenses, I refuse to file the paperwork unless you give me my out-of-pocket expenses.” And so the lawyer, I guess, had $21,000 in bills. So I paid his lawyer $21,000—not him, it was not a settlement. That was a payment to his lawyer for his out-of-pocket expenses. Out-of-pocket expenses so that he would file the paperwork to dismiss the case.
You’ve said the cases were unfounded, and the plaintiffs eventually apologized. But your boss, Marc Collins-Rector later pleaded guilty to eight charges of child enticement and registered as a sex offender. Were you aware of his behavior? How do you square the fact that later allegations proved to be true, but these ones were not?
Well, remember: I was 16 and 17 years old at the time? So, no. I don’t think Marc is the man they made him out to be. But Marc is not a person I would associate with today, and someone I haven’t associated with in a very long time. I was 16 and 17. I chose the wrong business partner. You live and you learn.
You’ve pointed out that you were underage when most of these allegations were said to take place. Did you ever feel like you were coerced or in over your head while working at DEN?
I mean, I was working 18 hours a day, doing things I’d never done before. It was business school. But I definitely learned a lot in building that company. We raised $88 million. We filed our [form] S-1 to go public. We were the hottest start-up in Los Angeles.
In 2000, you left the country with Marc Collins-Rector. Why did you leave? How did you spend those two years abroad?
I moved to Spain in 1999 for personal reasons. I spent those two years in Europe working on developing my businesses.
Interpol found you in 2002. The house where you were staying reportedly contained guns, machetes, and child pornography. Whose guns and child porn were those? Were you aware they were in the house, and how did those get there?
My lawyers have addressed this in 32 pages of documentation showing a complete absence of wrongdoing. Please refer to my webpage for more information.
[Ed. Note: The webpage does not mention guns, machetes, or child pornography. It does state:“It is true that when the local police arrested Collins-Rector in Spain in 2002 on an international warrant, Mr. Pierce was also taken into custody, but so was everyone at Collins-Rector’s house in Spain; and it is equally clear that Brock was promptly released, and no charges of any kind were ever filed against Brock concerning this matter.”]
What do you make of the allegations against Bryan Singer? [Ed. Note: Bryan Singer, a close friend of Collins-Rector, invested at least $50,000 in DEN. In an Atlantic article outlining Singer’s history of alleged sexual assault and statutory rape, one source claimed that at age 15, Collins-Rector abused him and introduced him to Singer, who then assaulted him in the DEN headquarters.]
I am aware of them and I support of all victims of sexual assault. I will let America’s justice system decide on Singer’s outcome.
In 2011, you spoke at the Mindshift conference supported by Jeffrey Epstein. At that point, he had already been convicted of soliciting prostitution from a minor. Why did you agree to speak?
I had never heard of Jeffrey Epstein. His name was not on the website. I was asked to speak at a conference alongside Nobel Prize winners. It was not a cryptocurrency conference, it was filled with Nobel Prize winners. I was asked to speak alongside Nobel Prize winners on the future of money. I speak at conferences historically, two to three times a week. I was like, “Nobel Prize winners? Sounds great. I’ll happily talk about the future of money with them.” I had no idea who Jeffrey Epstein was. His name was not listed anywhere on the website. Had I known what I know now? I clearly would have never spoken there. But I spoke at a conference that he cosponsored.
What’s your connection to the Clinton Global Initiative? Did you hear about it through Jeffrey Epstein?
I joined the Clinton Global Initiative as a philanthropist in 2006 and was a member for one year. My involvement with the Initiative had no connection to Jeffrey Epstein whatsoever.
You’ve launched your campaign in Minnesota, where George Floyd was killed by a police officer. How do you feel about the civil uprising against police brutality?
I’m from Minnesota. Born and raised. We just had a press conference there, announcing that we’re on the ballot. Former U.S. Senator Dean Barkley was there. So that tells you, when former U.S. Senators are endorsing the candidate, right?
[Ed. note: Barkley was never elected to the United States Senate. In November of 2002, he was appointed by then Minnesota Governor Jesse Venture to fill the seat after Sen. Paul Wellstone died in a plane crash. Barkley’s term ended on Jan. 3, 2003—two months later.]
Yes, George Floyd was murdered in Minneapolis. My vice-presidential running mate Karla Ballard and I, on our last trip to Minnesota together, went to visit the George Floyd Memorial. I believe in law and order. I believe that law and order is foundational to any functioning society. But there is no doubt in my mind that we need reform. These types of events—this is not an isolated incident. This has happened many times before. It’s time for change. We have a lot of detail around policy on this issue that we will be publishing next week. Not just high-level what we think, not just a summary, but detailed policy.
You said that you support “law and order.” What does that mean?
“Law and order” means creating a fair and just legal system where our number one priority is protecting the inalienable rights of “Life, Liberty and the pursuit of Happiness” for all people. This means reforming how our police intervene in emergency situations, abolishing private prisons that incentivize mass incarceration, and creating new educational and economic opportunities for our most vulnerable communities. I am dedicated to preventing crime by eliminating the socioeconomic conditions that encourage it.
I support accountability and transparency in government and law enforcement. Some of the key policies I support are requiring body-cams on all law enforcement officers who engage with the public, curtailing the 1033 program that provides local law enforcement agencies with access to military equipment, and abolishing private prisons. Rather than simply defund the police, my administration will take a holistic approach to heal and unite America by ending mass incarceration, police brutality, and racial injustice.
Did you attend any Black Lives Matter protests?
I support all movements aimed at ending racial injustice and inequality. I​ have not attended any Black Lives Matter protests.​ My running-mate, Karla Ballard, attended the March on Washington in support of racial justice and equality.
Your platform doesn’t mention the words “climate change.” Is there a reason for that?
I’m not sure what you mean. Our policy platform specifically references human-caused climate change and we have a plan to restabilize the climate, address environmental degradation, and ensure environmental sustainability.
[Ed. Note: As of writing the Pierce campaign’s policy platform does not specifically reference human-caused climate change.]
You’ve recently brought on Akon as a campaign surrogate. How did that happen? Tell me about that.
Akon and I have been friends for quite some time. I was one of the guys that taught him about Bitcoin. I helped make some videogames for him, I think in 2012. We were talking about Bitcoin, teaching him the ropes, back in 2013. And in 2014, we were both speaking at the Milken Global Conference, and I encouraged him to talk about how Bitcoin, Africa, changed the world. He became the biggest celebrity in the world, talking about Bitcoin at the time. I’m an adviser to his Akoin project, very interested in the work that he’s doing to build a city in Africa.
I think we need a government that’s of, for, and by the people. Akon has huge political aspirations. He obviously was a hugely successful artist. But he also discovered artists like Lady Gaga. So not only is he, himself, a great artist, but he’s also a great identifier and builder of other artists. And he’s been a great businessman, philanthropist. He’s pushing the limits of what can be done. We’re like-minded individuals in that regard. I think he’ll be running for political office one day, because he sees what I see: that we need real change, and we need a government that is of, for, and by the people.
You mentioned that you’re an adviser on Akoin. Do you have any financial investments in Akoin or Akon City?
I don’t believe so. I’d have to check. I have so much stuff. But I don’t believe that I have any economic interests in his stuff. I’d have to verify that. We’ll get back to you. I don’t believe that I have any economic interests. My interest is in helping him. He’s a visionary with big ideas that wants to help things in the world. If I can be of assistance in helping him make the world a better place, I’m all for it. I’m not motivated by money. I’m not running for office because I’m motivated by power. I’m running for office because I’m deeply, deeply concerned about our collective future.
You’ve said you’re running on a pro-technology platform. One week into your campaign last month, a New York appeals court approved the state Attorney General’s attempt to investigate the stablecoin Tether for potentially fraudulent activity. Do you think this will impact your ability to sell people on your tech entrepreneurship?
No, I think my role in Tether is as awesome as it gets. It was my idea. I put it together. But I’ve had no involvement in the company since 2015. I gave all of my equity to the other shareholders. I’ve had zero involvement in the company for almost six years. It was just my idea. I put the initial team together. But I think Tether is one of the most important innovations in the world, certainly. The idea is, I digitized the U.S. dollar. I used technology to digitize currency—existing currency. The U.S. dollar in particular. It’s doing $10 trillion a year. Ten trillion dollars a year of transactional volume. It’s probably the most important innovation in currency since the advent of fiat money. The people that took on the business and ran the business in years to come, they’ve done things I’m not proud of. I’m not sure they’ve done anything criminal. But they certainly did things differently than I would do. But it’s like, you have kids, they turn 18, they go out into the world, and sometimes you’re proud of the things they do, and sometimes you shake your head and go, “Ugh, why did you do that?” I have zero concerns as it relates to me personally. I wish they made better decisions.
What do you think the investigation will find?
I have no idea. The problem that was raised is that there was a $5 million loan between two entities and whether or not they had the right to do that, did they disclose it correctly. There’s been no accusations of, like, embezzlement or anything that bad.
[Ed. Note: The Attorney General’s press release on the investigation reads: “Our investigation has determined that the operators of the ‘Bitfinex’ trading platform, who also control the ‘tether’ virtual currency, have engaged in a cover-up to hide the apparent loss of $850 million dollars of co-mingled client and corporate funds.”]
But there’s been some disclosure things, that is the issue. No one is making any outrageous claims that these are people that have done a bunch of bad—well, on the internet, the media has said that the people behind the business may have been manipulating the price of Bitcoin, but I don’t think that has anything to do with the New York investigation. Again, I’m so not involved, and so not at risk, that I’m not even up to speed on the details.
[Ed note: A representative of the New York State Attorney General told Forbes that he “cannot confirm or deny that the investigation” includes Pierce.]
We’ve recently witnessed the rise of QAnon, the conspiracy theory that Hollywood is an evil cabal of Satanic pedophiles and Trump is the person waging war on them. You mentioned human trafficking, which has become a cause for them. What are your thoughts on that?
I’ve watched some of the content. I think it’s an interesting phenomenon. I’m an internet person, so Anonymous is obviously an organization that has been doing interesting stuff. It’s interesting. I don’t have a big—conspiracy theory stuff is—I guess I have a question for you: What do you think of all of it, since you’re the expert?
You know, I think it’s not true, but I’m not running for president. I do wonder what this politician [Georgia congressional candidate Marjorie Taylor Greene], who’s just won her primary, is going to do on day one, once she finds out there’s no satanic cabal room.
Wait, someone was running for office and won on a QAnon platform, saying that Hollywood did—say what? You’re the expert here.
She won a primary. But I want to push on if we only have a few minutes. In 2006, your gaming company IGE brought on Steve Bannon as an investor. Goldman later bought out most of your stock. Bannon eventually replaced you as CEO of Affinity. You’ve described him as your “right-hand man for, like, seven years.” How well did you know Bannon during that time?
Yes, so this is in my mid-twenties. He wasn’t an investor. He worked for me. He was my banker. He worked for me for three years as my yield guide. And then he was my CEO running the company for another four years. So I haven’t worked with Steve for a decade or so. We worked in videogame stuff and banking. He was at Goldman Sachs. He was not in the political area at the time. But he was a pretty successful banker. He set up Goldman Sachs Los Angeles. So for me, I’d say he did a pretty good job.
During your business relationship, Steve Bannon founded Breitbart News, which has pretty consistently published racist material. How do you feel about Breitbart?
I had no involvement with Breitbart News. As for how I feel about such material, I’m not pleased by any form of hate-mongering. I strongly support the equality of all Americans.
Did you have qualms about Bannon’s role in the 2016 election?
Bannon’s role in the Trump campaign got me to pay closer attention to what he was doing but that’s about it. Whenever you find out that one of your former employees has taken on a role like that, you pay attention.
Bannon served on the board of Cambridge Analytica. A staffer on your campaign, Brittany Kaiser, also served as a business director for them. What are your thoughts on their use of illicitly-obtained Facebook data for campaign promotional material?
Yes, so this will be the last question I can answer because I’ve got to be off for this 5:00 pm. But Brittany Kaiser is a friend of mine. She was the whistleblower of Cambridge Analytica. She came to me and said, “What do I do?” And I said, “Tell the truth. The truth will set you free.”
[Ed. Note: Investigations in Cambridge Analytica took place as early as Nov. 2017, when a U.K. reporter at Channel 4 News recorded their CEO boasting about using “beautiful Ukranian girls” and offers of bribes to discredit political officials. The first whistleblower was Christopher Wylie, who disclosed a cache of documents to The Guardian, published on Mar. 17, 2018. Kaiser’s confession ran five days later, after the scandal made national news. Her association with Cambridge Analytica is not mentioned anywhere on Pierce’s campaign website.]
So I’m glad that people—I’m a supporter of whistleblowers, people that see injustice in the world and something not right happening, and who put themselves in harm’s way to stand up for what they believe in. So I stand up for Brittany Kaiser.
Who do you think [anonymous inventor of Bitcoin] Satoshi Nakamoto is?
We all are Satoshi Nakamoto.
You got married at Burning Man. Have you been attending virtual Burning Man?
I’m running a presidential campaign. So, while I was there in spirit, unfortunately my schedule did not permit me to attend.
OP note: please refer to the original article for reference links within text (as I've not added them here!)
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Stablecoins Are Not as Safe as You Think. How Your USDT, PAX, BUSD Get Frozen in a Moment

Stablecoins Are Not as Safe as You Think. How Your USDT, PAX, BUSD Get Frozen in a Moment
Being created on the basis of blockchain, stablecoins were considered to be a safe haven for investors… until recently. Why is their immunity elusive and how does the Financial Action Task Force (FATF) plan to control them?
Established in 1989 by the G7, the FATF inter-governmental organization develops policies to resist money laundering and financing of terrorism. It sets standards and implements legal and regulatory measures to combat illegal financial transactions.
They developed recommendations for the monitoring of money laundering and keep revising them regularly. In case of non-compliance, law enforcement is executed via regional financial organizations. As of 2019, there are 39 full members of FATF, including the USA, UK, Australia, most EU countries, Singapore, India and the Russian Federation.
Since 1st July, the FATF organization has been headed by Marcus Pleyer. During the last FATF meeting, the new president expressed his concerns about global stablecoins and organizations that issue them. Although the organization had already dealt with these cryptocurrencies, it highlighted that, “it is essential to continue closely monitoring the ML/TF risks of so-called stablecoins, including anonymous peer-to-peer transactions via unhosted wallets”.
Is it ever possible to control crypto wallets that are not hosted on online exchanges? – you’d ask. We’re used to the fact that cryptocurrencies are outside the reach of banks and governments. However, when it comes to stablecoins, things are different.

It’s in the code

What makes stablecoins special is that they are pegging to fiat currency, for example, 1 TUSD = $1 USD. This means that such assets should be backed up by real money stored in the bank accounts of the issuing organization. Consequently, stablecoin creators need to comply with the requirements of the SEC, FATF and other controlling agencies, if they are to operate in the cryptocurrency sphere and be authorised to sell stablecoins. Transparent reports are not the only requirement, stablecoins must also provide the possibility of account blocking.
Surprisingly, this feature is implemented in each stablecoin. The experts from QDAO DeFi are covering several stablecoin protocols that enable this function.


Issued by Tether Limited, USDT is a stablecoin that was originally created to be worth $1 with each token backed by a $1 real fiat reserve. The currency was successfully promoted and added to major cryptocurrency exchanges but stayed a controversial asset. Despite the claims of Tether Limited, they failed to provide any contractual right or other legal claims to guarantee that USDT can be swapped for dollars or be redeemed.
In April 2019, Tether’s lawyers explained that each USDT was backed by only $0.74 in cash or equivalent assets. No audit of dollar collateral was done. A month before that, it changed the backing to include loans to affiliate companies. The scandal also involved the Bitfinex exchange that was accused of using USDT funds to cover $850 million in funds lost since 2018. They were also accused of manipulating USDT to push the BTC price.
Tether is available on five blockchains: Omni, Ehereum, EOS, Tron and Liquid. Only the latter does not have a freezing feature. Omni was the first protocol for USDT. Blocking of users’ accounts is possible, thanks to the following piece of code:

Apparently, it’s used to blacklist addresses and contracts.


The concerns about PAX were centered around the notorious MMM BSC Ponzi scheme. Before the widespread adoption of DeFi services, it was the second-largest gas consumer after Ethereum. Out of 25,000 daily transactions, 5,000 were performed by MMM BSC. It was reported to be a scam but none of the accounts were frozen. Does it mean PAX lacked the resources to regulate illicit activities?
Evidently, not. The protocol code has a LAW ENFORCEMENT FUNCTIONALITY function that allows for the freezing/unfreezing of contracts or burning assets on blacklisted accounts. It turns out, anyone risks having their PAX coins destroyed during an investigation process while their accounts stay blocked.

History of frozen accounts

In 2019, the ZCash Foundation and Eric Wall conducted research on the privacy of stablecoins and revealed several frozen addresses. It’s not clear why exactly they were blocked. Most probably, it happened shortly after the exchange withdrawal – users took this action after witnessing platforms being hacked.

USDT was implicated at least twice in scandals to do with freezing. In April 2019, about $850 million in Tether dollars sent by Crypto Capital Corp. were frozen by a New York court. Tether and Btfinex were accused of participating in a cover-up to hide about $850 million worth in clients’ funds. By July 2020, Tether had frozen 40 Ethereum addresses with millions of USDT (some of them are shown in the screenshot above).
The Centre Consortium was the next to follow their lead; about a month ago, it blacklisted an address with USDC worth $100,000. That was done in response to law enforcement.
Yet, it’s not only Europe and the USA imposing control over cryptocurrencies. Since June 2020, the Chinese government managed to block several thousands of users’ bank accounts. It was done to resist illicit activities, especially money laundering. On some of those accounts, no activity had been detected for several months. Meanwhile, prior to April 2020, Chinese residents moved over $50 billion worth of crypto outside the country borders – more than is officially allowed (a maximum of $50,000 per person).
The authorities claim that USDT and other stablecoins are often used in illegal activities. Together with the People’s Bank of China (PBOC), they are developing new ways of investigating digital crimes and money laundering operations involving exchanges and crypto wallets. Local financial bureaus and police are working tight-lipped about investigating startups and crypto exchanges. And they are succeeding at it.
In July 2020, Chinese authorities confiscated BTC, ETH and USDT worth $15 million from people who allegedly ran a fake cryptocurrency scheme.
By the way, not only corporate accounts are being closed. One investor claims his account had been frozen after using yuan to purchase crypto. Also, users who transfer illegally obtained money outside of the mainland in large amounts are under suspicion. Does it mean the Chinese government has started tightening the screws on cryptocurrency users?

DAI, USDT on Liquid and USDQ are the main options for stablecoin deposits

So, where can you store your crypto assets? USDT on Liquid and DAI are not the only solutions available. Consider making a deposit in USDQ, the stablecoin of the QDAO ecosystem. Like other stablecoins, it’s 1-to-1 pegged to USD. However, it cannot be frozen by a government, financial organization or anyone from the QDAO team. You can check it yourself by reading our Smart contract and USDQ Audit.
In QDAO, users’ accounts are never frozen by a single person – all account issues are solved by the entire QDAO community, with the help of a QDAO governance token.
In case of blocking (the chances of which are almost non-existent), you can address the QDAO community and get timely help.

Bottom Line

With FATF taking this new course of action, we might witness serious pressure on stablecoin providers. Some projects will resist it, but it’s still not safe to store your assets in popular stablecoins, especially USDT. Your account can be frozen by authorities for dozens of reasons without the possibility of retrieval.
Yet, there are a number of reliable alternatives and USDQ stablecoin is one of them. QDAO DeFi platform users feel free to manage their crypto reserves and make profitable deposits.
Want to be the first to hear QDAO DeFi news and updates? Visit our website and stay in touch with us on social media: Twitter, Facebook, Telegram and LINE (for the Japanese-speaking community).
submitted by QDAODeFi to u/QDAODeFi [link] [comments]

Mitch McConnell's Brother-in-Law One of the Masterminds of Trump-Russia

Jim Breyer, Mitch McConnell's brother-in-law, Facilitates Russia’s Takeover of Facebook through Yuri Milner
In 2005 Jim Breyer, a partner at Accel Partners, invested $1 million of his own money into Facebook and gained a seat on the board (1).
In Feb 2009 Jim Breyer visited Russia with a number of other Silicone Valley investors. While there, Yuri Milner, a Russian tech entrepreneur who founded DST with close ties to the Kremlin, hosted a dinner to cap the entire event (2). As one Moscow source put it:
DST has the backing of the big boys at the top in the Kremlin, which is why it will go from strength to strength (5)
Milner found out Breyer liked Impressionist art and took him to Russian’s Hermitage Museum to view Matisse paintings otherwise closed off to the public. Three months later Yuri Milner’s DST invested into Facebook at a bloated value. (2)
Mr Milner dismissed suggestions that at a valuation of $10bn he overpaid for his stake in Facebook, especially given that the social networking site has yet to prove it has turned to profit. (3)
it’s seen as a desperate and rather vulgar deal on the one hand—Milner buying a small stake in Facebook, valuing the entire company at $10 billion—and, on the other, Facebook debasing itself by taking Russian money. Russian money! In fact, it seems rather like a desperate deal for both parties (in the midst of the banking crisis, Facebook has only two other bidders for this round—and none from the top VC tier) (4)
By the end of 2009, DST would own 10% of Facebook. Later revealed by the Paradise Papers, DST’s investments into Facebook were financed by the Russian government through state-owned Gazprom. That’s right, in 2009 Russia owned 10% of Facebook. (6)
Soon after, the two continued to work together on other investments. Breyer introduced Milner to Groupon, and Milner helped Breyer’s Accel invest into Spotify (7). In 2010 an Accel representative joined a gaggle of Silicon Valley investors to Russia and signed a letter promising to invest into the country (8).
  1. http://fortune.com/2011/01/11/timeline-where-facebook-got-its-funding/
  2. http://fortune.com/2010/10/04/facebooks-friend-in-russia/
  3. https://www.telegraph.co.uk/technology/facebook/7753692/Facebook-is-just-the-first-step-say-Russians.html
  4. https://www.wired.com/2011/10/mf_milne
  5. https://www.theguardian.com/technology/2011/jan/04/facebook-dst-goldman-sachs
  6. https://www.theguardian.com/news/2017/nov/05/russia-funded-facebook-twitter-investments-kushner-investor
  7. https://dealbook.nytimes.com/2011/09/28/dst-global-hoping-to-grow-across-asia-puts-down-roots/
  8. http://www.ambarclub.org/executive-education/
Jim Breyer and Rupert Murdoch
Then in Nov 2010 Jim Breyer invested into Artsy.net, run by Rupert Murdoch’s then-wife, Wendi Deng, and Russia oligarch Roman Abramovich’s then-wife, Dasha Zhukova. Jared Kushner’s brother, Josh, also invested in the fledgling company (1).
At the time Rupert Murdoch’s News Corporation had a joint venture with the Russian mob-linked oligarch Boris Berezovsky, called LogoVaz News Corporation, that invested in Russian media (4). It was Berezovsky’s protege close to Putin, Roman Abramovich, who tied Berezovsky to the mob.
According to the Mirror Online, Abramovich paid Berezovsky tens, and even hundreds, of millions every year for "krysha", or mafia protection. (5)
In June 2011, Rupert Murdoch ended his foray into social media by selling Myspace to Justin Timberlake (2) and elected Jim Breyer to the board of News Corp (3).
  1. https://www.businessinsider.com/what-is-cadre-and-how-to-invest-in-its-real-estate-deals-2016-6
  2. https://en.wikipedia.org/wiki/Myspace
  3. https://web.archive.org/web/19990428071733/http://www.newscorp.com:80/
  4. https://www.bloomberg.com/profiles/companies/156126Z:RU-logovaz-news-corp
  5. https://en.wikipedia.org/wiki/Roman_Abramovich
Jim Breyer invests in Wickr with Erik Prince
In 2012 Breyer invested in a encrypted messenger app, Wickr. Other investors include Gilman Louie and Erik Prince. To understand the connection, we need to go back to 1987. Breyer, newly hired to Accel Partners, made his first investment with Louie’s video game company that owned the rights to the Soviet Union’s first video game export, Tetris (1).
Louie went off to become the founding CEO of the CIA-backed In-Q-Tel which invested in Palantir. Palantir’s founder, Peter Thiel, sat on the board of Facebook with Breyer (2)(3). On the board of In-Q-Tel is Buzzy Krongard (7), the man who helped Erik Prince’s Blackwater receive their first CIA contract, who also joined the board of Blackwater in 2007 (6).
Around that same time, 2012-2013, Prince met Vincent Tchenguiz, founder of Cambridge Analytica's parent company, SCL (8), and was introduced to Cyrus Behbehani of Glencore, one of the purchasers of Rosneft stock detailed in the Steele Dossier (9). Cyrus Behbehani sat on the board of RusAl with Christophe Charlier, who is also Chairman of the board at Renaissance Capital (10), an early investor of DST (11).
  1. https://wickr.com/wickr-raises-30m-series-b-led-by-jim-breye
  2. https://www.sfgate.com/politics/article/CIA-Asks-Silicon-Valley-s-Help-Executive-to-2904775.php
  3. https://www.iqt.org/palantir-technologies/
  4. https://www.politico.com/story/2016/08/palantir-defense-contracts-lobbyists-226969
  5. https://feraljundi.com/tag/reflex-responses-management-consultancy-llc/
  6. https://www.nytimes.com/2007/11/17/us/17brothers.html
  7. https://www.marketscreener.com/business-leaders/A-Krongard-006WHL-E/biography/
  8. https://www.haaretz.com/israel-news/revealed-erik-prince-had-business-ties-with-netanyahus-disgraced-chief-of-staff-1.5627887
  9. https://medium.com/@wsiegelman/a-fresh-look-at-erik-princes-house-intelligence-committee-testimony-and-emails-with-christophe-6603f06c6568
  10. https://medium.com/@wsiegelman/a-fresh-look-at-erik-princes-house-intelligence-committee-testimony-and-emails-with-christophe-6603f06c6568
  11. https://www.vccircle.com/all-you-wanted-know-about-digital-sky-technologies/
Jim Breyer and Yuri Milner invest in Prismatic
That same year, 2012, Jim Breyer invested in Prismatic, a news aggregate app, with Yuri Milner.
Prismatic’s technology works by crawling Facebook, Twitter and the web (“anything with a URL”) to find news stories. It then uses machine learning to categorize them by Topic and Publication. Prismatic users follow these Topics and Publications, as well as Individuals and the algorithm then uses these preferences and user-activity signals to present a relevant Newsfeed. (1)
Sounds like the beginning of what could be a propaganda dissemination tool. That goes in-line with Yuri Milner’s vision of Social Media. Milner’s theory:
“Zuckerberg’s Law”: Every 12 to 18 months the amount of information being shared between people on the web doubles... Over time people will bypass more general websites such as Google in favor of sites built atop social networks where they can rely on friends’ opinions to figure out where to get the best fall handbag, how to change a smoke detector, or whether to vacation in Istanbul or Rome. “You will pick your network, and the network will filter everything for you,” Milner explained. (2)
So how does Milner intend to utilize the data gathered through social media? Let’s see what Milner did to Russia’s top social media site, VK:
In January 2014, Durov sold his 12 percent stake to Ivan Tavrin, the CEO of major Russian mobile operator Megafon, whose second-largest shareholder is Alisher Usmanov, one of Russia’s most powerful oligarchs, a man who has long been lobbying to take over VK.
Then, in April 2014, Durov stated he had sold his stake in the company and became a citizen of St Kitts and Nevis back in February after "coming under increasing pressure" from the Russian Federal Security Service to hand over personal details of users who were members of a VK group dedicated to the Euromaidan protest movement in Ukraine. (3)
The Euromaidan protest ousted the Russian-backed president of Ukraine, Viktor Yanukovych, whom Paul Manafort had worked to install. (4)
  1. https://techcrunch.com/2012/12/05/prismatic/
  2. http://fortune.com/2010/10/04/facebooks-friend-in-russia/
  3. https://cointelegraph.com/news/what-ban-russias-vkcom-is-mining-bitcoin
  4. https://en.wikipedia.org/wiki/Viktor_Yanukovych
Facebook talks US Elections with Russia
In Oct 2012 Zuckerberg traveled to Moscow and met Dmitry Medvedev where they had a very interesting conversation:
Mr. Zuckerberg and Mr. Medvedev talked about Facebook’s role in politics, though only jokingly in reference to its importance in the American presidential campaign, according to Mr. Medvedev’s press office. (1)
While there he also visited Victor Vekselberg's Skolkovo, who’s currently under investigation by Mueller for donations to Trump (2).
As Obama’s effort to reboot diplomatic relations [with Russia] sputtered, federal officials began raising alarms about the Skolkovo Foundation’s ties to Putin.
“The foundation may be a means for the Russian government to access our nation’s sensitive or classified research, development facilities and dual-use technologies” (3)
And took time to teach Russian's how to hack Facebook friend data, the same hack used by Cambridge Analytica, Donald Trump’s campaign data firm.
In a 2012 video, Facebook's Simon Cross shows the Moscow crowd how they can "get a ton of other information" on Facebook users and their friends. "We now have an access token, so now let's make the same request again and see what happens," Cross explains (YouTube). "We've got a little bit more data, but now we can start doing really interesting stuff. We can get my friends. We can get some more information about one of my friends. Here's Connor, who you'll meet later. Say 'hello,' Connor. He's waving. And we can also get a ton of other information as well." (4)
Facebook later hired the individual who hacked Facebook and sold the data to Cambridge Analytica (5).
A month after that visit, Putin propaganda mouth-piece Konstantin Rykov, claims he began helping with Trump’s presidential aspirations (6). Days later, Trump registered “Make America Great Again” (7). The following year, Russia's Troll Factory, the Internet Research Agency, was created as was Cambridge Analytica.
  1. https://www.nytimes.com/2012/10/02/technology/zuckerberg-meets-with-medvedev-in-key-market.html
  2. https://www.adweek.com/digital/zuckerberg-russia-skolkovo/
  3. https://apnews.com/5e533f93afae4a4fa5c2f7fe80ad72ac/Sanctioned-Russian-oligarch-linked-to-Cohen-has-vast-US-ties
  4. https://www.youtube.com/watch?v=heTPmGb6jdc&feature=youtu.be&t=11m54s
  5. https://www.theguardian.com/news/2018/ma18/facebook-cambridge-analytica-joseph-chancellor-gsr
  6. https://washingtonmonthly.com/2017/11/24/a-trumprussia-confession-in-plain-sight/
  7. https://trademarks.justia.com/857/83/make-america-great-85783371.html
Andrei Shleifer and Len Blavatnik
Len Blavatnik, a US-Russian oligarch currently under investigation by Mueller, graduated from Harvard in 1989 and quickly formed Renova-Invest with Viktor Vekselberg, another oligarch under Mueller’s investigation (7)(8). Since then Blavatnik has maintained close ties to the university.
In 1992, after the fall of the Soviet Union, Andrei Shleifer led a consortium of Harvard professors to assist Russia’s vice-president, Antaoly Chubais, with the privatization of Russia’s state-run assets. Scandal broke when it was revealed Shleifer, through Blavatnik’s company and with Blavatnik’s guidance, invested in the very companies he worked to privatize. (6)
Years later, Shleifer continued to fund loans to Blavatnik for Russian ventures through his hedge fund, managed by his wife, Nancy Zimmerman (9), and created the Russian Recovery Fund which bought $230 million of Russian debt from Julian Robertson’s Tiger Management (10), who’s seed fun, Tiger Global, later invested in Milner’s DST.
Len Blavatnik and Viktor Vekselberg are major investors in Rusal (11).
Schleifer is still a professor at Harvard.
  1. http://harry-lewis.blogspot.com/2014/01/some-russian-money-flows-back-to-harvard.html
  2. https://en.wikipedia.org/wiki/Leonard_Blavatnik#cite_note-Yenikeyeff-7
  3. https://abcnews.go.com/Politics/investigators-follow-flow-money-trump-wealthy-donors-russian/story?id=50100024
  4. https://www.newyorker.com/magazine/2014/01/20/the-billionaires-playlist
  5. https://law.justia.com/cases/federal/appellate-courts/cafc/16-1718/16-1718-2017-03-14.html
  6. https://www.bloomberg.com/news/articles/2018-04-25/tangled-rusal-ownership-thwarts-easy-end-to-sanctions-quicktake
Breyer and Harvard
On April 2013, two months after Breyer was elected to the board of Harvard (1), Len Blavatnik, donated $50 million to the school (2) and joined the Board of Dean’s Advisors (3)(4) and Harvard’s Global Advisory Council (6) alongside Breyer. The next month Breyer announced plans to step down from the board of Facebook with an intention of focusing on his latest Harvard appointment (5).
In 2016 Len Blavatnik donated over $7 million to GOP candidates, including $2.5 million to Mitch McConnell himself (7).
  1. https://news.harvard.edu/gazette/story/2013/02/breyer_elected/
  2. https://news.harvard.edu/gazette/story/2013/04/blavatnik_accelerator_donation/
  3. https://www.accessindustries.com/about/academic-boards-committees/
  4. https://www.cnbc.com/2017/07/21/delivering-alpha-2017-jim-breyer.html
  5. https://sanfrancisco.cbslocal.com/2013/04/27/facebook-board-member-jim-breyer-stepping-down/
  6. http://docplayer.net/54127503-Harvard-global-advisory-council.html
  7. https://www.dallasnews.com/opinion/commentary/2017/08/03/tangled-web-connects-russian-oligarch-money-gop-campaigns
Breyer invests in Russian Companies
In 2014 Breyer’s Accel Partners invested in Russian hotel booking site, Ostrovok, along with Yuri Milner, Esther Dyson (1), Mark Pincus, and Peter Thiel (2).
Accel Partners also invested in Avito.ru in 2012 (3) and KupiVIP.ru in 2011 (4).
  1. https://techcrunch.com/2014/06/18/ostrovok-raises-new-12m-series-c-round-to-expand-outside-russia/
  2. http://idcee.org/participants/companies/ostrovok/
  3. http://www.ewdn.com/2012/05/02/avito-ru-secures-75-million-investment-from-accel-partners-and-baring-vostok/
  4. http://www.ewdn.com/2011/04/14/leading-private-shopping-club-kupivip-ru-completes-55-m-funding/
Jim Breyer, Blackstone Group, and Saudi Arabia
In 2011 Schwarzman was named to the board of the Russian Direct Investment Fund (2), headed by Kirill Dimitriev.
In June 2016, during Trump’s presidential campaign, Jim Breyer met with Saudi Crown Prince Mohammed bin-Salman, or MBS (8). The next month Breyer joined the board of Blackstone Group (1) alongside Stephen Schwarzman and Jacob Rothschild (3). In the past Blackstone Group had loaned Kushner Companies a combined $400 million over multiple projects (7). In the 2018 election cycle, Schwzarman donated $5 million to the pro-McConnell superPAC, Senate Majority PAC (13).
Jacob’s brother, Nat, is business partners with both Oleg Deripaska (4), Rupert Murdoch, and Dick Cheney (5). Nat is also a major investor in Glencore, one of the purchasers of Rosneft stock detailed in the Steele Dossier (6), and RusAl.
In January 2017, Breyer’s business partner at Wickr, Erik Prince, was introduced to Dimitriev by MBS’s emissary, George Nader, and the Crown Prince of the UAE (10).
On October 22, 2018, three weeks after the murder of Jamal Khashoggi, when most American investors were spooked away from Saudi Arabia, Jim Breyer showed up at an MBS-hosted Saudi business summit alongside Kirill Dimitriev of the Russian Direct Investment Fund (9). That same day, MBS pledged $20 billion for Blackstone Group's new infrastructure fund (11) to fund Elaine Chao's $1.5 trillion infrastructure plan (12). Elaine Chao, Mitch McConnells wife and Jim Breyer's sister-in-law, is Trump's Secretary of Transportation.
  1. https://www.blackstone.com/media/press-releases/article/jim-breyer-to-join-blackstone-s-board-of-directors
  2. https://rdif.ru/Eng_fullNews/53/
  3. https://en.wikipedia.org/wiki/Jacob_Rothschild,_4th_Baron_Rothschild
  4. https://www.telegraph.co.uk/news/politics/conservative/3236166/Muddy-waters-over-Oleg-Deripaska-Nat-Rothschild-and-George-Osborne.html
  5. https://www.nationofchange.org/2017/01/15/cheney-rothschild-fox-news-murdoch-drill-oil-syria-violating-international-law/
  6. https://en.wikipedia.org/wiki/Nathaniel_Philip_Rothschild
  7. https://www.bloomberg.com/news/articles/2017-05-26/the-kushners-the-saudis-and-blackstone-behind-the-recent-deals
  8. https://www.thetrustedinsight.com/investment-news/saudi-prince-mohammed-met-with-20-silicon-valley-innovators-in-tech-summit-20160628142/
  9. https://www.latimes.com/business/la-fi-moelis-saudi-arabia-20181023-story.html
  10. https://www.vox.com/2018/3/7/17088908/erik-prince-trump-russia-seychelles-mueller
  11. https://www.bloomberg.com/news/articles/2018-10-22/how-blackstone-landed-20-billion-from-saudis-for-infrastructure
  12. https://www.bloomberg.com/news/articles/2018-10-22/how-blackstone-landed-20-billion-from-saudis-for-infrastructure
  13. https://www.washingtonpost.com/news/post-politics/wp/2018/07/20/big-money-is-flowing-into-the-2018-fight-for-the-senate/?noredirect=on&utm_term=.f59ac6f2ebe5
submitted by Puffin_Fitness to RussiaLago [link] [comments]

Bitcoin Scam Artists Under Investigation for Impersonating Police

The Royal Canadian Mounted Police, or RCMP, is investigating two Bitcoin (BTC) scams in Strathcona County in Alberta, Canada. They allege that fraudsters impersonated the local authorities in order to extort their victims for money.
According to The Sherwood Park News on June 16, one of the victims received a call by a person that claimed to be from the Canada Revenue Agency, or CRA. The other victim said that the scammer stated he was an RCMP officer.
Depositing money into a Bitcoin machine
The authority’s report states that both unidentified residents of Alberta’s county were asked to withdraw cash from a bank and then deposit it into a Bitcoin machine. They were told that if these funds were not paid, the scammers would arrest them.
The victim who was contacted by the fake CRA representative lost almost 12,000 CAD ($8,836) due to the scam.
The fake RCMP officer told the other victim that his insurance number had been compromised, stating that there were several fraud allegations against him. The scammer asked the victim to withdraw money from the bank and then, as in the other case, deposit it into a Bitcoin kiosk.
Total amount lost in the scam
The RCMP stated that individuals lost over 21,000 CAD ($15,460) in total during the scam. They warned people to contact RCMP immediately if they experience suspicious, seemingly fraudulent attempts at extortion. They also note that citizens can check the Canadian Anti-Fraud Center website for information.
Chantelle Kelly, Strathcona County’s RCMP officer, commented:
“There is no circumstance where police will contact individuals requesting Bitcoin. These scammers typically contact hundreds of people hoping someone will send them money.”
On May 2, Cointelegraph reported a series of scam emails sent from Japan asking people to donate BTC to the Olympic Games organization in Tokyo.
submitted by SilkChain to u/SilkChain [link] [comments]

License to Kill – Bond(s) explained

The below is the text from my latest blog post about bonds, if you want to see the original with pretty pictures, charts, graphs etc then click on this link.
Ok, the title is an obvious dad joke, but as it happens it still fits in with my naming convention for posts so happy days! On to more serious stuff.
The most common proposed asset allocation for people pursuing FIRE seems to involve having absolutely as much invested in equities (or to a lesser extent property) as possible, and reducing every other asset class to as little as possible. Which is certainly one way of doing things, and given the great performance of shares and property over the last 20 years or more there is an argument to be made for doing things this way.
It’s certainly not the only way of doing things though, and I will be trying to show why there is a case to be made for investing some money in other asset classes, in particular Fixed Income aka Bonds.
So what are bonds?
Bonds are a type of debt that is issued by governments, semi-government organisations, and corporations, so basically you’re lending them money. In Australia we also have what are called hybrid securities, but they’ve got some big enough differences that I’ll talk about them in a future post (probably).
Bonds are also one of those fun areas where there is an exception to every rule, so although what I’ve written below is broadly accurate there is always going to be some type of bond or a specific issue that breaks one of the rules.
So please don’t be an internet hero and “well ackshually” me about premium redemption/issue bonds, soft calls, hard calls, investor puts, floaters, PIK notes and all the rest of it because broadly speaking it isn’t going to make much difference for the purposes of explaining bonds. Basically play nice readers!
Talk numbers to me…
Bonds are all about math. As I’m sure regular readers of this blog can imagine this makes me very happy, and probably explains in part why I spent a large part of my career working in an area where understanding bonds was crucial, although to make things more interesting we added on a bunch of other stuff like equity options, credit derivatives, FX etc.
The main numbers to think about are the price you paid for the bond, the coupon on the bond, the yield on the bond, the time to maturity, and the maturity value of the bond. From those main numbers we also derive a bunch of other numbers I’ll talk about later.
Bonds are normally issued at a price of 100, with a fixed coupon (interest payment based on the maturity value of the bond) and a fixed maturity value at a known maturity date. So that’s 4 of the numbers covered already, happy days!
A lot of the time though you’re not going to be buying that bond when it is issued, you’ve buying it when it’s already trading in which case chances are pretty good you didn’t pay 100 for the bond. Buying it along the way doesn’t affect the coupon or the redemption amount at maturity or when it matures.
What it does affect though is the yield. There are a bunch of different yield measures but I’m going to go with yield to maturity, ie what yield (return) will you get if you hold the bond to maturity.
It’s not a perfect analogy, but one way to think about bonds is that they’re like a term deposit where the amount that you can buy it for moves around. If you buy a bond for $10,000 that is going to mature in a year and it has a 2% coupon and redeems for $10,200 (redemption price plus coupon payment), then your yield (2%) is the same as your coupon (2%).
But if interest rates have changed and so the price of the bond has changed and you buy that bond for $9,900 or $10,100, then your yield will be different from your coupon, either 3% or 1% respectively. Hopefully that makes sense? BTW I’ve rounded the numbers here to try and keep it nice and simple.
Most bonds pay interest on a semi annual basis (I used an annual payment in the example above to make things easier) so to figure out how much interest you get when it gets paid it’ll be the coupon divided by two.
Hopefully all of that makes sense, if not let me know in the comments.
Issuers of Bonds
As I said above the main issuers of bonds are governments, semi government organisations, and corporations.
Debt issued by governments is generally the safest type, because so long as they control the printing press then they can always print more money to pay you back. The Eurozone is a bit of an exception to this (understatement of the year) but in most of the other major sovereign bond markets like the US, Australian, the UK etc it’s true.
Emerging markets are a bit different because they often issue debt in USD, which means that if things go pear shaped then they can’t just print more money to pay off bondholders.
There can also be issues with getting your money back from sovereigns if they have too much debt, such as when they either don’t control the printing press (Greece) or the bond is issued in a different currency (Argentina) but for the most part if you lend money to a developed country in their own currency then you can pretty reliably count on getting your money back.
There are also bonds issued by semi government organisations like the World Bank, European Bank for Reconstruction and Development etc, these are slightly less safe for the most part but you’re still not taking on much risk of not getting your money back.
Debt issued by corporations is riskier, partly because businesses obviously can’t just print more money to pay you back, and because corporations can and do go bust. Sure it doesn’t seem likely that Telstra or Woolworths or the big banks are going to blow up any time soon, but there are plenty of other bond issuers out there with much more fragile finances.
As you would expect the more risk you are taking on the more return you want in order to be compensation for doing so. This is because unlike a term deposit the value of your capital isn’t protected. If you put $10,000 into a term deposit for a year with an interest rate of 2%, then you know that in a year’s time you will get back that $10,000 plus $200 in interest.
If for some reason the bank you invested that money through goes bust, the government will make you whole (up to the value of $250,000 per entity per approved deposit institution.
If you invest in a corporate bond and the company goes bust, well you’re probably not going to get all or maybe any of your money back. The good news is that you’re more likely to get money back than equity holders, but if the debts of the company are a lot more than the assets then you’re going to be in trouble.
There’s a clear framework for what happens if a company goes bust and who gets paid first and in how much etc, the short version of this is that equity holders are absolutely last in line but depending on what type of bonds you own you may not be a meaningful better position either.
And unlike a stock, when you own a bond you don’t own a piece of the issuer of the bond, you just own part of their devt. So if the company does great and starts making a fortune, you as a bondholder don’t get paid any more than what the terms of the bond state. Basically you can get a fair chunk of the downside and none of the upside beyond the terms of the bond. On the plus side this doesn’t happen particularly often, most of the time you’ll get what you were promised
Bond ratings
Now obviously some companies are more secure and stable than others. If you take a bond from the biggest company in the ASX200 which is CBA, then it’s more likely to fulfil the terms of the bond than whatever the 200th company is. That’s not to say the 200th company won’t, just that there is more risk. The actual degree of this risk is quantified in a couple of different ways.
First of all there are ratings agencies out there who will assign a rating from anywhere to super safe (AAA) to D (in default) with a bunch of graduations in between. Anything rated from AAA to BBB- is what is called Investment Grade (IG), everything below that is called High Yield (HY) or less politely Junk.
Just because a bond is IG doesn’t guarantee it will pay off, likewise something which is HY isn’t guaranteed or even likely to fail. For the most part though the different ratings given tend to play out that way in the real world, with far less defaults for bonds rated AAA vs bonds rated BB for example.
The big three ratings agencies are Standard & Poors (S&P), Moodys, and Fitch, and between them they’ll rate most of the bonds and/or issuers. They tend to be fairly backward looking in my opinion, and they were hugely and obviously wrong on rating mortgage backed securities back in the GFC. Still, they will generally give you a reasonable idea of the creditworthiness of the bond issuer.
Because bonds are also traded in the marketplace you can take the yield offered on a bond with a particular maturity, compare it to an equivalent government bond, and using some fun math (yeah baby!) back out a credit spread which that bond trades over treasuries (or swaps but I’m not going to get into that). The higher the spread, the higher the perceived risk of the bond, and vice versa of course.
Are bonds safe?
Well it kinda depends on what you mean by safe. If you mean are the bonds likely to deliver what the issuer of the bonds promised, then generally yes. As I said with government and semi government bonds you will almost certainly get all your coupons and the maturity value of the bonds delivered on time. Yeah, there are some exceptions to this but you’re unlikely to run into trouble with Australia, the US, the UK, the more economically sensible members of the Eurozone etc.
Similarly with corporates the vaast majority of the time you will get your money back on investment grade bonds, and it’s pretty rare to not get your money back on high yield bonds as well. That’s not to say it doesn’t happen, but it doesn’t happen much.
If you mean am I going to get back what I put into the bond, well no they’re not necessarily safe, particularly if you sell before maturity. Remember when I said bonds are kinda like term deposits that can trade? Well when they trade those prices move around, and they can move around a lot!
Why do bond prices move?
There are a bunch of reasons why bond prices move around, the main ones are changes in the interest rate environment, changes in economic conditions, and changes specific to the issuer of the bond.
We’ll talk about interest rates first. Bond prices have an inverse relationship with bond yields, which is a fancy way of saying if interest rates (yields) go down then bond prices go up.
How much do they go up? Well that depends on the magnitude of the change in rates, and a bunch of factors involving the bond. Basically the longer till maturity on the bond, and the lower the coupon on the bond, the more sensitive it will be to changes in interest rates. This is measured using modified duration and convexity.
Modified duration takes into account the timing of the cashflows of the bond (so coupons and maturity) and gives you a number which is typically a little less than that number of years to maturity, the higher the coupon the more it decreases the modified duration. If you multiply that modified duration by the change in interest rates in percentage terms, it will tell you how much the bond price will move by (in theory at least).
So if you have a modified duration of say 7.117, then for every 1 percent move in interest rates the bond price will change by 7.117 points. So if your bond price was previously 100 and rates moved down by 1%, then your bond should now be worth 107.117. Happy days! Conversely if rates moved up, well your bond is now worth 92.883. Not so happy days.
I’ve used the [ASX bond calculator](http://%20https//www.asx.com.au/asx/research/bondCalculator.do) to give a couple of examples using the current Aussie 10 year bond. You can hopefully see below that by changing the yield on the bond from 1.5% to 1% the market price has gone from 116.87 to 121.83, roughly a 4.25% change in price for a 0.5% change in rates, so presumably the modified duration on the bond is about 8.5.
To make things slightly more complex, that relationship isn’t fixed due to something called convexity. Instead of being a linear relationship, it’s actually a changing one (a curve rather than a line). Basically the more bonds prices move away from where they were issued the more that relationship will change.
Then there are things like GDP numbers, employment numbers, consumer sentiment surveys, PMI surverys, and all sorts of other economic news which will potentially move bond yields around, generally pretty slightly but it really depends on how important that economic number is and how much of a change from expectations it is.
On top of that for corporations changes in their own situations will have an effect on what their credit rating/spread is which will affect prices as well. If a company goes from being loss making to suddenly making a profit, then that’s going to be good for their credit and the bond price is likely to go up. Bad news like a profit warning will potentially mean a higher credit spread and lower price for the bond.
There is also general investor appetite for risk, so if investors are happy to take on more risk in their asset allocation (risk on) then they will likely sell off lower risk assets like bonds and buy higher risk assets like equities and to a lesser extent property. If things change and they want to go risk off, then the reverse happens and money tends to come out of equities and into bonds.
What happens to bonds if the stock market crashes or we have another GFC?
A stock market crash is actually one of the more compelling reasons to invest in bonds. This is because when stock markets crash investors tend to put their money into asset classes where they feel a lot safer ie, bonds. The rationale is that getting your money back is now hugely important, and even more important is not losing all your money as you will in those horrible equities which you knew you should never have invested in but that horrible financial adviser talked you into.
People. Are. Not. Rational. People panic. People sell assets which are going down in value even though they know they should be holding on for the long term. This applies not just to retail investors, but also to professionals who should know better.
In the GFC I spent plenty of time talking to institutional investors with a long term time horizon (ie 5 or 10 years etc) who suddenly decided they had to get out because of bad one month performance. People will bail out if the proverbial is hitting the fan. I wrote a bit about my experiences with the GFC here, and believe me there are a lot of people who are not going to be as cool calm and collected as they think they will be.
It’s very very very very (extra very for emphasis) important to note here that at this point in time investors will not be thinking that all bonds are much the same. When they are looking for somewhere to put their money that they now have after panic selling out of equities, they will park it in the safest place they can find, ie government bonds (aka treasuries). This will cause the price of those bonds to rise because of supply and demand.
If they still want to take on some amount of risk then they might put some into investment grade bonds, again this will push the price up a bit. They will almost certainly not put money into high yield bonds, because those are risky and in a crisis will behave pretty similarly to equities, ie they will fall in value. If anything they will more than likely try to pull money out of HY bonds, pushing the price down.
This excellent post really shows this in the below graph which shows the average performance of different types of bonds for a 10% or greater fall in the stock market (all of this is for the US but the same principle applies to Australia).
It doesn’t work in every case, as shown below (same source), but in almost all cases of a big crash in equities, treasury and to a lesser extent IG bonds gave you a big positive return to help out. HY, not so much and in some cases actually gave you a worse performance than equities themselves.
Please believe me when I say it is a huge help psychologically to have some of your investments going up when the others are going down, which to me at least is a great reason to have some money invested in bonds.
You’ve convinced me, how much should I have in bonds?
Ok so I’m probably being slightly optimistic here given the number of posts I see on reddit about how VDHG would be so much better if Vanguard got rid of that terrible 10% that’s invested in bonds and put it all in equities instead.
It would be nice to think though that some people are now realising that come the next crash they too might not behave entirely rationally, and it sure would be nice to own some assets that are going to zig when the stock market zags, so to speak.
On the off chance that I have actually convinced people, well it really comes down to your particular risk profile. This is going to be hard to believe for some people, but in the US the default portfolio for most investors is 60% stocks and 40% bonds.
Looking at Oz , the default balanced investment option for most super funds over here are supposed to have something like a 70:30 split between growth assets (shares and property) and defensive assets (bonds and cash) although the reality is a long long way from that if you actually look into how they invest (that’s a discussion for another time though). So that maybe provides a useful starting point.
I know that the average FIRE portfolio that gets talked about particularly from younger bloggers (who have likely never experienced a sustained down market) is pretty much 100% equities and property, maybe even leveraged up. Which is fine if you can hold on through the downturns, but not everyone can do this because it is extremely difficult to do psychologically. I wish them all the best of luck, but I am pretty sure that at least some of them will decide that it’s all too much and sell whenever we have the next crash.
There are exceptions to the rule though. One of my favourite bloggers, and someone who I know thinks deeply about this sort of stuff, is the FI Explorer who has about 15% in bonds and 15% in defensive alternatives (gold and bitcoin) as per his latest portfolio update.
Whilst I don’t like Bitcoin myself, or gold for that matter, he writes a good explanation about why he holds both here. I still don’t like either asset myself, but I recognise that I am not infallible, I could well be wrong about this, and certainly historically they have worked well as hedges.
In any case the more important point here is that there is basically a 30% allocation to what would be regarded as defensive type assets. This is actually a bit over his actual target of 25% in defensive assets, but he probably sleeps just fine at night.
I’m a little more aggressive in only having about 21% of my assets (excluding PPoR) in cash and bonds, but it’s not a huge difference. Both of us have been invested through stock market crashes and hopefully have come to realise that we are not the hyper rational investors that economists believe we are, and therefore it’s best to have a bit invested in stuff that will go up or at least hold it’s value when everything else is crashing.
How do I buy bonds?
You can buy bonds individually, but you tend to need to have a fair amount of money to do so and you can run into a lot of problems with liquidity, big bid/ask spreads etc, it’s hard to build up a diversified portfolio etc.
I buy bonds the same way I buy stocks, ie via an ETF. Most of the major ETF providers have some variety of index ETFs tracking Treasury only or Treasury plus Investment Grade bonds, or you can buy HY stuff if you want. Personally I just use one ETF which has about 75% in treasuries and the rest in IG. There are also some actively managed bond funds out there, either as ETFs or managed funds.
For the reasons I outlined above about bonds being a psychological safe harbour I personally would (and do) only invest in bonds which are likely to up in a crisis, but different strokes for different folks applies as always.
Any more questions?
I’ve only really scratched the surface here of talking about bonds, but at the same time I feel like it’s an overwhelming amount of information. If you have more questions then as always I’m happy to answer them in the comments!
Do you invest in bonds? If you enjoyed this post and would like to read more like it then please subscribe!
submitted by AussieHIFIRE to fiaustralia [link] [comments]

U.S. to let spy agencies scour Americans' finances...An excellent case for anonymously purchasing gold.

submitted by buttburger777 to collapse [link] [comments]

Did anyone else get very long email with the subject "【MTGOX】同意事項/Terms of Consent" today?

This was the full email. There were also 2 PDF attachments. The only part I have changed is where I've redacted my "creditor number". Please discuss what you think about it.
(English follows Japanese)
再生債務者株式会社MTGOX 再生管財人弁護士小林信明
To creditor (creditor number: XXXXXXXXXXX)
You have received this email because you are a creditor ofMtGox Co., Ltd. (“MtGox”) who filed a proof of bankruptcy claim(s) under the previous bankruptcy proceedings forMtGox but did not file a proof of rehabilitation claim(s) under the civil rehabilitation proceedings for MtGox (the “Civil Rehabilitation Proceedings”) and whose remaining balance on the MtGox database was approved by the Rehabilitation Trustee as a self-approved rehabilitation claim(s) (i.e., a rehabilitation claim that was not filed but accepted by the trustee voluntarily in accordance with the Civil Rehabilitation Act).
Your self-approved rehabilitation claim(s) are detailed in the attached PDF file for your review.
In the Civil Rehabilitation Proceeding, the rehabilitation creditors who filed their proofs of rehabilitation claim agreed to the terms of consent regarding the Civil Rehabilitation Proceedings to proceed smoothly with various procedures including repayment. However, since you have not filed a claim, you have not yet agreed to these terms of consent. In order to facilitate various proceedings, your consent to the terms is required.
Accordingly, we hereby stated the “Terms of Consent Regarding the Civil Rehabilitation Proceedings” at the end of this email, as well as attached the same to this email. Please carefully read the terms therein, and if you agree to the terms, please reply to this email and state the sentence below in the body of your reply.
“I/We hereby agree to and represent as set forth in the “Terms of Consent Regarding the Civil Rehabilitation Proceedings” sent by the rehabilitation trustee, in relation to the civil rehabilitation proceedings for MtGox Co., Ltd.”
The rehabilitation trustee will continue to make an effort to conduct the Civil Rehabilitation Proceeding appropriately and in consultation with the Tokyo District Court, and the rehabilitation trustee would appreciate the understanding and cooperation of all concerned parties.
Rehabilitation Debtor: MtGox Co., Ltd. Rehabilitation Trustee: Nobuaki Kobayashi, Attorney-at-law
事件番号 平成29年(再)第35号 / Case Number 2017 (sai) No. 35 再生債務者 株式会社MTGOX / Rehabilitation Debtor: MTGOX Co., Ltd.
民事再生手続に関する同意事項 Terms of Consent Regarding the Civil Rehabilitation Proceedings
1. 私/当社は、上記債権者番号の自認債権者本人であり、私/当社が届け出た情報は真実、正確かつ完全であること。その違反に起因又は関連して生じるあらゆる損害、損失、債務、コスト又は費用(以下「損害等」という。)について、株式会社MTGOX(以下「MTGOX」という。)及びMTGOXの民事再生手続(東京地方裁判所平成29年(再)第35号。以下「本民事再生手続」という。)における管財人(その代理及び補佐を含み、以下「再生管財人」という。)は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。 I am/We are the creditor of self-approved rehabilitation claims that has the above creditor number, and I/we represent that the information that I/we have provided therein is true, accurate, and complete. MtGox Co., Ltd. (“MTGOX”) and the trustee (including deputy trustees and assistant trustees; the “Rehabilitation Trustee”) of the MTGOX civil rehabilitation proceedings (Tokyo District Court; 2017 (sai) Case No. 35; the “Civil Rehabilitation Proceedings”) are not liable in any respect for any damage, loss, liability, cost or expense (“Damages”) arising out of or in connection with any breach of such representation, and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee.
2. 再生管財人の故意によらず、ビットコイン及びビットコインから分岐した他の仮想通貨(以下「フォークコイン」といい、ビットコインと総称して「ビットコイン等」という。)の技術上の問題・障害等に起因又は関連して生じるあらゆる損害等(ビットコイン等又は金銭による弁済を受領できないことによる損害を含むが、これに限られない。)について、MTGOX及び再生管財人は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。 MTGOX and the Rehabilitation Trustee are not liable in any respect for any Damages arising out of or in connection with any technical issue, impediment, or other ground, in the absence of without willful misconduct by the Rehabilitation Trustee, regarding Bitcoin or any other cryptocurrency split from Bitcoin (a “Fork Coin”; collectively with Bitcoin, “Bitcoin, Etc.”) (including, but not limited to, any damage related to payments in Bitcoin, Etc. or cash not being received), and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee.
3. 私/当社は、本書式のダウンロードその他のために必要なコンピュータ等の機器、ソフトウェアその他のアプリケーション、通信回線その他の通信環境等の準備(必要なアプリケーションのインストールを含む。)及び維持、並びに自らの利用環境に応じたコンピュータ・ウイルスの感染の防止、不正アクセス及び情報漏洩の防止等のセキュリティ対策を、自らの費用と責任において行うこと。本項に定める事項の違反に起因又は関連して生じるあらゆる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。私/当社は、MTGOX及び再生管財人が利用環境を推奨した場合であっても動作保証は行わないことを認識し、これに同意していること。 I/We will, at my/our expense and responsibility, setup and maintain computers and other equipment, software and other applications, telecommunication lines and other telecommunication environments, among others, necessary to download this form (including installing necessary applications) and, in accordance with my/our use environment, take security measures, such as preventing infection by computer viruses, unauthorized access and information divulgence. MTGOX and the Rehabilitation Trustee are not liable in any respect for any Damages arising out of or in connection with any breach of any matter stipulated in this paragraph, and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee. I/We acknowledge and agree that notwithstanding that MTGOX and the Rehabilitation Trustee have recommended a use environment its operation is not guaranteed in any respect.
4. 私/当社は、自らの責任において、MTGOXのビットコイン取引所に登録していたユーザーネーム、メールアドレス及びパスワード、MTGOXの破産手続(東京地方裁判所平成26年(フ)第3830号。以下「本破産手続」という。)において債権者情報として登録した連絡先メールアドレス等私/当社であることの確認のために必要な情報及びこれに関連するもの(以下、総称して「パスワード等」という。)を管理、保管するものとし、パスワード等を第三者に利用させたり、貸与、譲渡、名義変更、売買その他処分をしたりしないこと。再生管財人は、私/当社のパスワード等により行われた一切の行為を、私/当社の行為とみなすことができ、パスワード等の管理不十分、使用上の過誤、漏洩、第三者の使用、盗用等に起因又は関連して生じるあらゆる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。 I/We will, at my/our responsibility, manage and store user names, email address and passwords registered on the MTGOX Bitcoin exchange; the contact address registered as creditor information in the bankruptcy proceedings (Tokyo District Court; 2014 (fu) Case No. 3830; the “Bankruptcy Proceedings”); or any other information necessary for identity confirmation and anything related thereto (collectively, the “Passwords”) and will neither permit any third party to use the Passwords nor lend, assign, transfer ownership, trade, or handle the Passwords in any other manner. The Rehabilitation Trustee may deem all acts conducted with my/our Passwords as mine/our act; and MTGOX and the Rehabilitation Trustee are not liable in any respect for any Damages arising out of or in connection with insufficient management, erroneous use, divulgence, third party use, illegal use, or otherwise of the Passwords, and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee.
5. 私/当社は、再生管財人が定めている又は今後定める、再生管財人が用意した方式・方法による届出・通知及びこれに関連する事項を行う際のルール(今後の変更を含む。)を理解した上でこれに従うものとし、当該ルールに違反し、又は違反しようとしたことに起因又は関連して生じるあらゆる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。 I/We will familiarize myself/ourselves with and follow current rules or future rules (as amended from time to time) for any filing/notifying with the form/method the Rehabilitation Trustee provided and anything related thereto stipulated, by the Rehabilitation Trustee; and MTGOX and the Rehabilitation Trustee are not liable in any respect for any Damages arising out of or in connection with any breach of or any attempted breach of the rules, and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee.
6. 他のウェブサイトからMTGOXのウェブサイトへのリンクが提供されている場合においても、MTGOXのウェブサイト以外のウェブサイト及びそこから得られる情報並びにそれに起因又は関連して生じる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。 MTGOX and the Rehabilitation Trustee are not liable in any respect for any website other than MTGOX’s website, any information obtained therefrom, and any Damages arising out of or in connection with the same, notwithstanding that MTGOX’s website may be linked on another website, and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee.
7. 私/当社と他の再生債権者その他の者との間において生じた取引、連絡、紛争等については、私/当社の責任において処理及び解決するものとし、かかる事項及びそれに起因又は関連して生じるあらゆる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。 I/we will, at my/our responsibility, handle and resolve any and all transactions, communication, disputes, among others, arising between me/us, another rehabilitation creditor, or any other person; and MTGOX and the Rehabilitation Trustee are not liable in any respect for any relevant matter and any Damages arising out thereof or in connection therewith, and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee.
8. 法律、政令、法令、命令、通達、条例、ガイドラインその他の規制(以下「法令等」という。)又は消費税を含む税制の将来の制定又は変更に起因又は関連して生じるあらゆる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私/当社は、MTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。また、法令等又は消費税を含む税制の将来の制定又は変更が過去に遡及した場合に、これに起因又は関連して生じるあらゆる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。 MTGOX and the Rehabilitation Trustee are not liable in any respect for any Damages arising out of or in connection with a future enactment or amendment to a law, cabinet order, ordinance, order, directive, bylaw, guideline, or any other regulation (“Laws”) or the tax system, including consumption tax; and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee. Further, MTGOX and the Rehabilitation Trustee are not liable in any respect for any Damages arising out of or in connection with any future enactment or amendment with a retroactive effect on Laws or the tax system including consumption tax, and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee.
9. 裁判所又は再生管財人が、再生管財人が私/当社のメールアドレスと認めるメールアドレス宛に電子メールにより通知を送信することによって、私/当社に対する適法な通知があったものとみなすこと。当該メールアドレスの不備等(メールアドレスの記載漏れを含む。)に起因又は関連して、当該メールアドレスに宛てた電子メールを送信することができず又は電子メールが到達しない場合(到達が確認できない場合を含む。)であっても同様とすること。 An appropriate notification is deemed to have been made to me/us if the court or the Rehabilitation Trustee sends a notification via email to the email address which is considered to be my/our email address by the Rehabilitation Trustee. The same applies notwithstanding that, due to, or in connection with, an inadequacy, inaccurateness or incompleteness, or any other issue (including omission of the email address), in or with that email address, an email addressed to that email address cannot be sent or the email is not delivered including where receipt is unconfirmed.
10.私/当社が本届出書を利用して行った再生債権の届出の内容について、再生管財人が裁判所その他必要な第三者に提出すること。 The Rehabilitation Trustee may submit the proof of rehabilitation claim filed by me/us using this form to the court and other third parties as necessary.
11.私/当社は、本民事再生手続においてパスワード等を用いて入手することができる一切の情報(他の再生債権者に関する情報を含むが、これに限られない。)を、本民事再生手続における権利行使の目的にのみ使用することとし、第三者に提供、開示又は漏洩しないこと。 I/We will use information (including, but not limited to, information related to any other rehabilitation creditors) acquired by using the Passwords in the Civil Rehabilitation Proceedings only for the purpose of exercising rights in the Civil Rehabilitation Proceedings and will not provide, disclose, or divulge such information to any third party.
12.私/当社の本民事再生手続における議決権の額は、再生管財人が提示する次の為替レートによって、円換算されて評価されること。 The amount of my/our voting rights in the Civil Rehabilitation Proceedings is computed through conversion to Japanese Yen (JPY) using the following exchange rates provided by the Rehabilitation Trustee:
(a) 外国通貨 平成30年6月21日(日本時間)の東京外国為替市場・電信為替売相場として三菱UFJリサーチ&コンサルティング株式会社が公表した相場 Foreign currency: the exchange rates publicly announced by Mitsubishi UFJ Research and Consulting Co., Ltd. as the Tokyo Foreign Exchange Market / Telegraphic Transfer Selling Rate on June 21, 2018 (Japan Time) (b) ビットコイン 平成30年6月21日23時59分(日本時間)時点のCoinDeskが発表する米国ドル建てのビットコイン相場を(a)の相場により日本円に換算した金額(1 BTC=6,724.57米国ドル=749,318.83円。1米国ドル=111.43円) Bitcoin: the amount obtained by converting the Bitcoin price denominated in USD announced by CoinDesk at 23:59 on June 21, 2018 (Japan Time) to JPY using the exchange rate referred to in the above (a). (1 BTC=6,724.57 USD = 749,318.83 JPY; 1 USD = 111.43 JPY) (c) ビットコインキャッシュ 平成30年6月21日23時59分(日本時間)時点のCoinDeskが発表する米国ドル建てのビットコインキャッシュ相場を(a)の相場により日本円に換算した金額(1 BCH=874.82米国ドル=97,481.19円。1米国ドル=111.43円) Bitcoin Cash: the amount obtained by converting the Bitcoin Cash Price denominated in USD announced by CoinDesk at 23:59 on June 21, 2018 (Japan time) to JPY using the exchange rate referred to in the above (a). (1 BCH = 874.82 USD = 97,481.19 JPY; 1 USD = 111.43 JPY) (d) その他の仮想通貨 金額は未定 Amounts for other cryptocurrencies: not determined
13.本民事再生手続においては、ビットコイン等の返還請求権は非金銭債権として取り扱われ、当該返還請求権に係る遅延損害金は生じないこととすること。 In the Civil Rehabilitation Proceedings, the right to claim for return of Bitcoin Etc. is treated as a non-monetary claim, and no delay damages pertaining to such right to claim for return will accrue.
14.再生管財人の私/当社への弁済(金銭及びビットコイン等の弁済を含む。)及びこれに関連する行為が、日本国の外国為替及び外国貿易法、米国財務省の金融制裁(OFAC規制)その他私/当社に関して適用のあるいかなる法令等にも抵触しないこと。再生管財人は、再生管財人の実施する私/当社への弁済及びこれに関連する行為が、日本国外の法令等に抵触しないことをいかなる意味においても保証しないこと。これらの法令等への抵触に起因又は関連して生じるあらゆる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。再生管財人の私/当社への弁済に起因又は関連して私/当社に課される一切の公租公課(当該弁済の態様によって公租公課の額が増減する場合を含む。)は、私/当社が負担し、当該公租公課又はその増減に起因又は関連して生じるあらゆる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。 Any payment (including payment of cash and Bitcoin Etc.) to me/us by the Rehabilitation Trustee and any act related thereto do not conflict with the Foreign Exchange and Foreign Trade Act of Japan, the United States Department of the Treasury’s financial sanctions (OFAC regulations) and any other applicable Laws. The Rehabilitation Trustee does not guarantee, in any respect, that payment to me/us by the Rehabilitation Trustee and any act related thereto do not conflict with Laws outside of Japan. MTGOX and the Rehabilitation Trustee are not liable in any respect for any Damages arising out of or in connection with any conflict with any applicable Laws, and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee. I/We will bear all taxes and other public charges (including any increases or decreases in the amount of taxes and other public charges due to the manner of the payment) levied on me/us arising out of or in connection with any payment to me/us by the Rehabilitation Trustee; and MTGOX and the Rehabilitation Trustee are not liable in any respect for any Damages arising out of or in connection with such taxes and other public charges and increase or decrease thereof, and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee.
15.再生管財人が、仮想通貨取引所(日本国内の仮想通貨交換業者を含むが、これに限られない。以下同じ。)又は金融機関(資金移動業者を含む。以下同じ。)に開設された再生債権者の口座に対して弁済金を振り込む場合、私/当社は、再生管財人の指定する方法により届け出た氏名・名称と同一名義の仮想通貨取引所又は金融機関の口座で受け取ること。 If the Rehabilitation Trustee transfers the money for distribution to an account of a rehabilitation creditor opened at a cryptocurrency exchange (including, but not limited to, cryptocurrency exchangers in Japan; the same applies below) or a financial institution (including fund transfer operators; the same applies below), I/we will receive the same in the account at the cryptocurrency exchange or the financial institution under the same name as that name I/we notified in the manner designated by the Rehabilitation Trustee.
16.私/当社が再生管財人の指定する仮想通貨取引所に開設した口座でビットコイン等及び/又は金銭で弁済を受ける場合には、次の各事項。 If I/we receive payment in Bitcoin Etc. and/or in cash in an account opened at the cryptocurrency exchange designated by the Rehabilitation Trustee, the following applies:
(a) 私/当社は、送付先等の必要情報を正確に提供しなければならず、その誤りから結果的にビットコイン等及び/又は金銭を受領できなかったとしても、それに起因又は関連して生じるあらゆる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。 I/we must accurately provide necessary information about my/our accounts, among others, and, notwithstanding that an error therein results in my/our not receiving Bitcoin, Etc. or cash, MTGOX and the Rehabilitation Trustee are not liable in any respect for any Damages arising out of or in connection with such non-receipt, and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee.
(b) 再生管財人がビットコイン等及び/又は金銭を当該仮想通貨取引所に交付した時点で弁済が完了し、MTGOX及び再生管財人の弁済義務は消滅するものとし、再生管財人による当該仮想通貨取引所へのビットコイン等及び/又は金銭の交付後、私/当社が何らかの理由(仮想通貨のブロックチェーンの不具合、仮想通貨取引所のシステムの不具合を含むが、これらに限られない。)により仮想通貨取引所からのビットコイン等及び/又は金銭の適切な弁済を受けることができなかったとしても、それに起因又は関連して生じるあらゆる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。 The instant the Rehabilitation Trustee sends Bitcoin, Etc. or cash to the cryptocurrency exchange, the payment by MTGOX and the Rehabilitation Trustee is deemed complete, and the payment obligation of MTGOX and the Rehabilitation Trustee is deemed to be discharged; and, after Bitcoin Etc. or cash has been sent to the cryptocurrency exchange by the Rehabilitation Trustee, notwithstanding that I/we fail to receive appropriate payment of Bitcoin Etc. or cash from the cryptocurrency exchange for any reason (including, but not limited to, a malfunction in the blockchain of the cryptocurrency or a system malfunction at the cryptocurrency exchange), MTGOX and the Rehabilitation Trustee are not liable in any respect for any Damages arising out of or in connection with such failure, and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee.
17.私/当社が金融機関の口座において金銭で弁済を受ける場合には、次の各事項。 If I/we receive cash in an account at a financial institution, the following applies:
(a) 私/当社は、送付先等の必要情報を正確に提供しなければならず、その誤りから結果的に金銭を受領できなかったとしても、それに起因又は関連して生じるあらゆる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。 I/We must accurately provide necessary information about my/our accounts, among others, and, notwithstanding that an error therein results in my/our not receiving cash, MTGOX and the Rehabilitation Trustee are not liable in any respect for any Damages arising out of or in connection with that, and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee.
(b) 取扱通貨の種別や送金元銀行との取引の有無、日本国内外の法令等及び各金融機関の内部基準への抵触並びに諸手数料の発生その他要因に基づき弁済金を受領できなかったとしても、それに起因又は関連して生じるあらゆる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。 Notwithstanding that I/we fail to receive cash for distribution due to unavailability of the designated currencies or transactions with the designated financial institutions, any conflict with Laws in or outside Japan or an internal standard of any relevant financial institution, various processing charges and fees, or any other causes, MTGOX and the Rehabilitation Trustee are not liable in any respect for any Damages arising out of or in connection with that, and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee.
(c) 諸手数料等を差し引いた金額の弁済金を受け取る場合であっても、当該諸手数料等に起因又は関連して生じるあらゆる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。 Notwithstanding that I/we have received payment from which various processing charges and fees have been deducted, MTGOX and the Rehabilitation Trustee are not liable in any respect for any Damages arising out of or in connection with such processing charges and fees, and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee.
18.フォークコインに係る再生債権の届出については、ビットコインに関する再生債権の届出をもって、届け出たビットコインの数に応じて、フォークコインに係る再生債権についても届け出たものとみなし、再生債権者は独自にフォークコインに係る再生債権を届け出ないこと。再生債権の届出があるとみなされるフォークコインは、通常の方法により売却可能であり、かつ、財産的価値のあるものに限られ、それ以外のフォークコインについては、再生債権の届出があるとは認められないこと。なお、ビットコインキャッシュは再生債権の届出があるとみなされるフォークコインに含まれること。 The filing of a proof of rehabilitation claim for a Fork Coin is deemed to have been made in proportion to the number of the filed Bitcoin for which the proof of rehabilitation claim has been filed, and the rehabilitation creditor cannot file its own proof of rehabilitation claim for a Fork Coin. Fork Coins that are deemed to have been filed are limited to those that can be sold in an ordinary manner and that have property value, and no other Fork Coin will be recognized as being deemed to have been filed. Bitcoin Cash is included in Fork Coins that are deemed to have been filed.
19.私/当社が再生管財人により認められた債権を契約により第三者に譲渡する場合には、当該譲渡契約の準拠法は日本法にするものとし、MTGOX及び再生管財人に当該譲渡を対抗するためには、日本法に基づく債権譲渡の対抗要件その他再生管財人が指定する要件を備えることが必要であること。再生管財人は、各国の法令等の定め及び債権譲渡契約で定められた準拠法の定めにかかわらず、日本法のみに基づき債権譲渡契約の有効性及び対抗要件具備の有無を判断すること。再生管財人が日本法に基づき債権譲渡契約の有効性及び対抗要件具備の有無を判断することに起因又は関連して生じるあらゆる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。 If I/we intend to transfer or assign any rehabilitation claim that was approved by the Rehabilitation Trustee to any third party pursuant to an agreement, the governing law for such agreement shall be Japanese law, and the perfection requirements in accordance with the relevant Japanese law and any other requirements specified by the Rehabilitation Trustee shall be fully satisfied to perfect such claim transfer or assignment against MTGOX and the Rehabilitation Trustee. The Rehabilitation Trustee will determine the validity of such claim transfer or assignment and perfection thereof pursuant only to Japanese law, irrespective of any statute in each country’s Laws and any governing law provided for in such agreement. MTGOX and the Rehabilitation Trustee are not liable in any respect for any Damages arising out of or in connection with the Rehabilitation Trustee determining the validity of such claim transfer or assignment and perfection thereof pursuant to Japanese law, and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee.
20.再生管財人による債権譲渡の承認が、債権譲渡の承認に必要な手続(譲渡人及び譲受人の本人確認、譲渡を証明する文書の検証を含むが、これらに限られない。)その他の理由により遅滞した場合であっても、これに起因又は関連して生じるあらゆる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私/当社はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。 Notwithstanding that approval by the Rehabilitation Trustee of a claim transfer or assignment is delayed by the procedures necessary for approval of a claim transfer or assignment (including, but not limited to, identity check of the transferoassignor and transferee/assignee and verification of documents proving transfer or assignment) or any other reason, MTGOX and the Rehabilitation Trustee are not liable in any respect for any Damages arising out of or in connection with such delay, and I/we will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee.
21.ある再生債権を譲渡する場合、当該再生債権の全部を譲渡することとし、その一部のみを譲渡しないこと。 If a rehabilitation claim is transferred or assigned, all of such rehabilitation claim, not part thereof, shall be transferred or assigned.
22.ビットコイン等に係る再生債権を譲渡する場合には、対象となるビットコイン及び当該ビットコインから分岐したフォークコインを併せて譲渡するものとし、ビットコイン又はフォークコインに係る再生債権を個別に譲渡しないこと。 If a rehabilitation claim pertaining to Bitcoin, Etc. is transferred or assigned, the Bitcoin subject to such transfer or assignment and the Fork Coin split from such Bitcoin shall be transferred or assigned collectively, and a rehabilitation claim pertaining to Bitcoin or Fork Coin shall not be transferred or assigned individually.
23.情報の取扱いに関する同意事項 Matters of consent related to information management
(a) 再生管財人が、以下の情報(個人情報の保護に関する法律(平成15年法律第57号)第2条第1項により定義される個人情報その他識別された又は識別可能な自然人に関する一切の情報を含むが、これに限られない。以下同じ。)を収集すること。 The Rehabilitation Trustee may collect the information below (including, but not limited to, personal information defined under Article 2(1) of the Act on the Protection of Personal Information (Act No. 57 of 2003) and any other information relating to an identified or identifiable natural person; the same applies below)
i. 私/当社が再生管財人に提供する情報 information that I/we provided to the Rehabilitation Trustee;
ii. 私/当社以外の情報源(身元証明サービス機関を含むが、これに限られない。)から収集する私/当社の情報 information concerning me/us provided by an information source (including, but not limited to, organizations providing ID verification services) other than myself/ourselves;
iii. 本破産手続において、私/当社が本破産手続の破産管財人に提供した一切の情報 all information that I/we provided to the bankruptcy trustee of the Bankruptcy Proceedings;
iv. 私/当社が、MTGOXに提供した一切の情報 all information that I/we provided to MTGOX; and
v. その他再生管財人が適正な方法により取得し、又は今後取得する情報 any other information acquired, or to be acquired going forward, by the Rehabilitation Trustee using an appropriate method
(b) 再生管財人が、収集した上記(a)の情報を、以下の目的で日本国内外で管理及び利用すること。 The Rehabilitation Trustee may manage and use collected information stated in (a) above for the purposes below in and outside of Japan.
i. 再生債権の届出、調査、再生計画の立案、再生計画に基づく弁済その他の本民事再生手続の適切な遂行 filing proofs of rehabilitation claim, investigations of rehabilitation claims, drafting a rehabilitation plan, distribution in accordance with a rehabilitation plan, or any other appropriate execution of the Civil Rehabilitation Proceedings;
ii. 公益的な目的のためにする、日本国内外の行政官庁・捜査機関・司法機関への上記(a)の情報の開示又は提供 disclosing or providing information stated in (a) above to any government office, any investigation agency, or any judicial agency in or outside of Japan for the purpose of serving public interests; and
iii. その他上記目的に付随する目的 any other purposes incidental to the above purposes.
(c) 再生管財人が、上記(b)の目的のため、上記(a)の情報を、第三者(以下の者を含むが、これらに限られない。)に開示又は提供する場合があること。これらの第三者には、①米国、②カナダ、③イギリス、④私/当社が所在する国及び⑤私/当社が再生債権の弁済の受領のために利用する金融機関又は仮想通貨取引所が所在する国に、それぞれ所在する第三者が含まれること。 The Rehabilitation Trustee may disclose or provide information stated in (a) above for the purpose of (b) above to any third party (including, but not limited to, the persons below). The third parties hereunder include third parties located in (i) the United States of America, (ii) Canada, (iii) the United Kingdom, (iv) the country in which I am/we are located, and (v) the country in which the financial institution or cryptocurrency exchange that I/we use to receive payment for the rehabilitation claim is located.
東京地方裁判所その他裁判所(日本国外の裁判所を含む。)、本民事再生手続及び本破産手続(併せて以下「本民事再生手続等」という。)における調査委員(その代理及び補佐を含む。)その他の機関、日本国内外の行政官庁・捜査機関、管財人が本民事再生手続等の遂行のために依頼する法律事務所及びデロイトトーマツコンサルティング合同会社等の専門家、金融機関、仮想通貨取引所、他の再生債権者、Eメールサービスプロバイダー、及び詐欺行為検証サービスプロバイダー Tokyo District Court and other courts (including courts outside of Japan); the Examiner (chosa iin) (including deputy examiners and assistant examiners) and other officers or bodies in the Civil Rehabilitation Proceedings or the Bankruptcy Proceedings (collectively, the “Civil Rehabilitation Proceedings, Etc.”); government offices and investigation agencies in or outside of Japan; counsel and experts including the law firms and Deloitte Tohmatsu Consulting LLC. which the trustee has retained to proceed with the Civil Rehabilitation Proceedings, Etc.; financial institutions; cryptocurrency exchangers; other rehabilitation creditors; email service providers; and fraudulent act verification service providers
(d) 管財人は、本民事再生手続等に必要な限りで私/当社のブラウザ設定により影響されない特定の永続クッキーを使用する可能性があること。 The trustee might, to the extent necessary for the Civil Rehabilitation Proceedings, Etc., use a specific permanent cookies setting that will be unaffected by my/our browser setting.
24.私/当社の再生債権に関する事項が、オンライン上で他の再生債権者による閲覧の対象となり、また、東京地方裁判所において本民事再生手続の利害関係人の閲覧及び謄写の対象となる場合があること。 The information regarding my/our rehabilitation claim may be available online to other rehabilitation creditors, and may be subject to the inspection and copying thereof at the Tokyo District Court by an interested party in the Civil Rehabilitation Proceedings.
25.私が死亡した場合、本民事再生手続との関係では、再生管財人が、日本の法令等及び実務に従って、相続に関する各種関係資料の提出を求め、また、誰を再生債権者として取り扱うかについて判断すること、及び、当該判断に起因又は関連して生じるあらゆる損害等について、MTGOX及び再生管財人は一切の責任を負わず、私及び私の相続人はMTGOX及び再生管財人に対して当該損害等に関して損害賠償請求、補償請求その他一切の請求をしないこと。 For the purpose of the Civil Rehabilitation Proceedings, in the event that I died, the Rehabilitation Trustee may, in accordance with the Laws and practices of Japan, request for relevant evidence and explanation on the inheritance and determine who to be treated as the rehabilitation creditor; and MTGOX and the Rehabilitation Trustee are not liable in any respect for any Damages arising out of or in connection with such determination, and I and my heir(s)/successor(s) will not make any claim for damages or compensation, or make any other claim with respect to such Damages against MTGOX or the Rehabilitation Trustee.
26.本同意事項は日本語を正文とすること。本同意事項につき作成される英語の翻訳文は参考にすぎず、日本語と英語との間で相互に内容の相違、矛盾がある場合であっても、日本語のみが効力を有すること。 The governing language of these terms of consent shall be the Japanese language. The English-language translation thereof is merely for reference purposes only; and notwithstanding any discrepancy or contradiction in details between the Japanese-language original and the English-language translation the Japanese-language original shall prevail.
27. 本民事再生手続等及びこれに関連又は付随して生じる一切の請求又は紛争は日本法に準拠し、東京地方裁判所を専属的合意管轄裁判所とすること。 The Civil Rehabilitation Proceedings, Etc. and all claims and disputes arising out of, in connection with, or incidental to, the Civil Rehabilitation Proceedings, Etc. are governed by Japanese law, and the Tokyo District Court shall have exclusive jurisdiction.
28. 再生管財人が、本同意事項を必要に応じ変更すること。但し、再生管財人が変更についてwww.mtgox.comにおいて告知したものに限る。 The Rehabilitation Trustee will, as necessary, amend these terms of consent. However, amendments are limited to those that the Rehabilitation Trustee has notified on the website www.mtgox.com.
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