In Red China

 

 

 

 

 

Hiding your money from the government is an obsession that far eclipses anything you have experienced in the US. They make drug lords look like pikers. So cryptocurrency is now illegal there. It is no surprise that China would summarily wipe out any and all competition for its own central bank-issued currency. Secondly, this is a form of capital control because many citizens were moving their wealth offshore with Bitcoin and Ether. That avenue is now closed.

The statement is the culmination of years of failed crackdowns on cryptos and is nothing new for a communist state. In 2013, the country ordered third-party payment providers to stop using bitcoin. Chinese authorities put a stop to token sales in 2017 and banned crypto exchanges from operating within its borders in 2019 but individuals in the country continued to find ways to trade bitcoin and other digital currencies via over-the-counter or peer-to-peer transactions. More recently, the country banned all crypto mining, which however only prompted miners to shift offshore.

LSP – a big investor in Dogecoin should be happy that he doesn’t live in China…

More on China

 

 

Random Thoughts

This is for Brian Lewis who may or may not have had the plague (and didn’t die). He felt ill and bought a two-test kit. Took both tests. One indicated that he had the plague. One didn’t. Brian lurks here at Virtual Mirage at times.

 

No comment…

Ok, one comment. She got a little on her chin…

 

Name the Mystery Aircraft Below:

And for Bonus Points

 

 

32 COMMENTS

  1. #1: DeHavilland Mosquito, the ‘plywood bomber’ so hated by Göring (Meier)
    #2: Aichi D3A “Val” dive bomber
    #3: Antonov An-2 “Colt” (I got my Russian wings jumping from that plane)
    #4: Bristol M.1 monoplane scout; mid-WWI; only British monoplane of that era
    #5: Douglas XB-19, experimental bomber and technology ‘test bed’
    #6: ??? Vought O2U Corsair ??? (this one was really tricky: the most difficult mystery plane you have ever posted, at least for me. I hope that I have cracked this nut with the assistance rendered by EDEN & MOENG “The Complete Encyclopedia of World Aircraft” — if not, the fault is entirely mine)
    #7: working principle of a rotary engine

    • But it’s not helping me.
      If the shaft is rotating CW, then what is that device (looks like a key?) on it rotating CCW?
      And I had been told in the Sopwith video that the crankshaft remains stationary.

      • The workings of the rotary engine have remained a dark and secret mystery for me; in spite of many patient and detailed instructions. I can recognize one by sight and sound but don’t ask me how it functions. The rotary ignorance is strong in me, surpassed only by my illiteracy regarding all floating and jet-propelled things.

      • You’re confusing the rotary (not the Wankel kind) engine with the radial engine. They are generally the same, but in a rotary (generally WW I era) the crankshaft is fixed, the prop is fixed to the engine, and the engine and prop both spin together. In a radial (survived and developed until the jet age) the engine stays in place, and the crankshaft and prop spin (more or less) together.

        I don’t want to try and work out the timing on either one.

        -Kle.

  2. Most decent folks don’t mind paying reasonable taxes to support infrastructure. But when it creeps to being confiscatory, then outright thievery to support criminal activity “on our behalf”, is when a Boston Tea Party type action becomes a solution to the cancer that is government run amok. As some have surmised, the next thing is a cashless society, which leads to controlling everything and everyone…but with their preferred currency.

    The Covid Crap is just the start and half the people fell right in line. In the meantime I’m still waiting for my flamethrower order, Amazon has mysteriously delayed shipping.

    Ice cream…it’s what’s for breakfast…and lunch…and dinner…and a late night snack… but only if it’s good ice cream.

  3. BTW, great minds ?? CW over at daily timerwaster had this for #6:

    Sailors work on a Great Lakes TG-2 torpedo bomber of VT-2B aboard USS Saratoga (CV-3), likely early 1930s. With a large hammer.

    (I noticed the large hammer right off.)

      • All carpenters, myself included, “open carry” their big hammers, some are even black thus be classified as assault hammers. Is that next to be outlawed or require permitting?

        Sounds stupid, but nothing passes for logic or truth with these clowns

        • If the screwdriver is sharpened to become an ice pick is it a weapon? Is the flathead, sharpened flat a deadly weapon? What about a loose piano wire? What if I put a handle on each end? Or of I slip a bar of soap into a sock?

          • Where doss it end? You are proving the idiocy of the Left’s deluded moronic mentality that only has the capacity to focus their brand of hatred on their latest weird shiny object.

      • Wired Right blog has several Youtube videos up showing large companies, KIA, Dell, etc pulling manufacturing out of China and going elsewhere, which, if true, should add greatly to their economic mess. I had not heard of this elsewhere, but given the state of our news media am not surprised. Greatly enjoy your articles by the way, keep up the good work.
        (Deplorable Mikey in Florida), there are too many other Mikeys on Google. And please don’t tell people to come to Florida unless they leave their crap politics at their old home. Thank heavens for DeSantis.

        • A friend of mine with heavy connections in China needs to manufacture. He has owned businesses there in the past WOFEs in the past. We were chatting about it just the other day. The cost of manufacturing there is roughly comparable to the US and then there is shipping, uncertain delivery, etc. I suggested Northrn Mexico or better still, the US.

          • Hello LL, I thought in a previous post you had written off Mexico as a business location. Likely I extrapolated a lot. Going from my poor memory, I thought you suggested US was about as good with much fewer of the problems. Interesting you allow N Mexico still an option. Always appreciate your analysis.

          • I think that Northern Mexico is an excellent manufacturing option. You need to keep the cartels at bay and control political corruption and that is doable. The wages and free trade situation makes Northern Mexico an EXCELLENT option.

  4. Hello LL and others, sorry question is tangential, new (PRC) Chinese movie The Battle of Lake Changjin . I am curious how it will be received, in China, South Korea, in the US and by you. Of course it is just entertainment, not consequential of itself, yet, Lake Changjin is Chosin Reservoir, significant to some.

  5. i find it funny that a week ago i saw articles and videos about how china was going to eat our lunch by going all-in on crypto. some folks never get tired of being wrong.

  6. Has the been a time in history when over hyped financial systems haven’t collapsed? Outside of China is the Renminbi freely accepted? How soon will the US Dollar be shunned? Why do some international operators insist on Krugerrands? The total international debt, all based on paper and/or digital currency and bonds, vastly exceeds what precious metals are in reserve. The fools in D.C. are merely accelerating the collapse, IMO.

  7. And whose pockets are getting filled by all that seized currency? That’s the interesting question. And the answer is, the heads of the Chinese Communist Party.

    Could have sworn that the biplane was a Martin T-4 torpedo bomber.

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