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During the California gold rush, many got rich by selling food and tools to the miners....

Not by finding gold.

Keep that in mind
Levi Straus for example came from Germany with material for tents for sale to miners.

He made a pair of pants for a miner from the tent material.....the rest they say is history
Take cryptocurrency....the real money is made by those providing services to the holders and traders of cryptocurrency....Processors, Exchangers, Platforms etc.

Remember, when you see a market, look underneath, invest in the "plumbing"..
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Kalu Aja
@FinPlanKaluAja1
In America, prices fall during holidays and festivities ie Christmas, New Year.

In Nigeria, prices rise during festivities...

Why?

(no its not greed)
Economics says when demand is up, prices rise only if supply cannot meet demand

Thus take Turkey, demand goes up in the US in November before Thanksgiving but prices dont rise because the supply of Turkey also increases.

Supply can rise because of supply chain efficiencies
In Nigeria, price of Rice goes up in December as more demand hits market, but supply cannot keep up with demand.

Even imports cannot ameliorate price because of logistics bottlenecks, this demand pressures keep prices up.
Read 5 tweets
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Kalu Aja
@FinPlanKaluAja1
Briefing Note: Yuan/Naira Currency Swap

1. What is a Currency Swap

Its a Derivative currency trading instrument where the principal and interest in a currency is swapped or exchanged for the principal and currency of another currency

Eg i swap US Dollars for Japanese Yen
2. Why use a Currency swap

To reduce currency exchange risk ..lets assume i have US Dollars and want to import Honda cars from Japan, i can simply swap my USD for Japanese Yen and buy the cars in Japan…

(I am being simplistic)
3.1 Why are Nigeria and China swapping Currencies?

Normally if you want to trade globally you use US Dollars. So to import from China I take Naira convert to Dollar then convert my Dollar to Yuan (Basic unit of Chinese Currency).
Read 10 tweets
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Kalu Aja
@FinPlanKaluAja1
What's the worst financial decision you have ever made.

I have a few examples of actions you should NEVER take.

1. Borrow from your Retirement plan for immediate consumption eg Burial, Holiday or Naming Ceremony.

This is not just a sin, it's a cardinal sin.

#FinPlanMistakes
2. Using credit card to pay layaway on a non- interest earning asset eg Gold watch.

Value of gold cannot keep up with interest cost of credit card
Taking a market rate mortgage to build a country estate in Village without option to earn rent
Read 7 tweets

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Yorick de Mombynes
@ydemombynes
My 140 favorite quotes from The Ethics of Money Production (2008), by Jörg Guido Hülsmann
1. “#Money is omnipresent in modern life, yet the production of money does not seem to warrant any moral assessment”. J.G.Hülsmann
2. “To be sure, central bank representatives are lecturing the public on the importance of business #ethics; but their concerns do not seem to apply to themselves”. J.G.Hülsmann
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Filomena Rocha
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15. Holocaust in Yemen caused by US, France, UK, Saudi Arabia, UAEmirates, Israel, Bahrain, Egypt, Jordan, Kuwait, Senegal, Sudan, Qatar, Morocco, Canada, Australia, Germany
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✨ Rebecca Speas #AbolishIce ✨
@SpeasySpice
ALRIGHT Y'ALL, OPERATION: BEST BOOKS OF 2018 THREAD IS LIVE!

Here's how this'll work: Each book I mention will have a blurb, a cover image, buy links from @justonemorepage wherever possible, and a @librofm link if I particularly enjoyed the audiobook.

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Sally Albright
@SallyAlbright
So let's talk about this.... (thread)
Everyone knows I've worked the Iowa Caucuses twice, because Berners will NOT SHUT UP about it.

The article I wrote about it here -->>

sallyal.ink/Iowa2012

/2
So in 2008 Dems started with 6 candidates. 3 dropped out in the Fall, so we had three competing by the Caucus. That year they were mid January I think.

3/
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❌Stu Cvrk
@STUinSD
Thread: On China Owning the Clintons, the Uniparty, and the Dangers!

1. Past threads on China have dealt with their inexorable push toward world economic domination. In this thread, we will examine China’s insidious control of US politicians over the past 30+ years.
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3. The BRI was described here:
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