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  1. #1
    dangerous floater Winehole23's Avatar
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    "International deal maker"

    The United States slapped sanctions Friday on Hong Kong's top leader, a new salvo in a major escalation against Beijing after ordering sweeping restrictions on Chinese-owned social media giants TikTok and WeChat.
    US President Donald Trump has ordered sweeping restrictions against Chinese-owned social media stars TikTok and WeChat, which could strangle their ability to operate in the United StatesIn the most significant US action on Hong Kong since Beijing imposed a tough security law, the Treasury Department said it was freezing US assets of Chief Executive Carrie Lam and 10 other senior officials.

    The move also criminalizes any US financial transactions with the 11 officials, who include Hong Kong's police commissioner, its security secretary and China's top official in the international financial hub.

  2. #2
    dangerous floater Winehole23's Avatar
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    The president cited national security concerns for the moves, which also threw into doubt the American operations of WeChat's parent firm, Tencent, a powerful player in the video gaming industry and one of the world's richest companies.

  3. #3
    The Money Team DMX7's Avatar
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    Here's the brilliant deal maker at work again:

    Canada will slap retaliatory tariffs on $2.7 billion worth of U.S. goods, Deputy Prime Minister Chrystia Freeland said.

    Canada’s move came in response to President Donald Trump’s decision to reimpose 10% aluminum duties on its trade partner.

    “We will impose dollar-for-dollar countermeasures in a balanced and perfectly reciprocal retaliation,” Freeland said. “We will not escalate and we will not back down.”
    https://www.cnbc.com/2020/08/07/cana...rade-feud.html

    It's almost as if we're being run by a guy who inherited his wealth and drove four businesses into bankruptcy.

  4. #4
    Mr. John Wayne CosmicCowboy's Avatar
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    Trumps got a ing death wish. Picks stupid fights he can't possibly win. I already lost over a thousand dollars this morning on a Chinese stock ADR (after being up 10 grand on it this year) because of his demand that all Chinese companies have to let US regulators poke through their books to be listed on a US stock exchange. .

  5. #5
    The Money Team DMX7's Avatar
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    Picks stupid fights he can't possibly win. I already lost over a thousand dollars this morning on a Chinese stock ADR (after being up 10 grand on it this year) because of his demand that all Chinese companies have to let US regulators poke through their books to be listed on a US stock exchange.
    Actually that demand is not unreasonable or partisan. You're probably talking about the PCAOB being granted access to work of auditors engaged with U.S. listed Chinese companies. PCAOB already gets access to European based companies and others.

  6. #6
    Veteran hater's Avatar
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    So much hype about a social app that will probably be replaced by a better app in 5-10 years if not sooner

    Distractions

  7. #7
    Mr. John Wayne CosmicCowboy's Avatar
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    Yeah, except the Chinese government won't let it happen. Any sophisticated investor knows there is a risk/reward balance with buying Chinese stocks but it sucks to have the government toss a hand grenade in it.

  8. #8
    Alleged Michigander ChumpDumper's Avatar
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    So much hype about a social app that will probably be replaced by a better app in 5-10 years if not sooner

    Distractions
    Zuckerberg was certainly ready with his new competing app.

  9. #9
    Veteran hater's Avatar
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    Zuckerberg was certainly ready with his new competing app.
    Sure

    IMO this is nothing. Is things keep going this way w china most likely the internet will be broken up into at least 2 pieces. Now that would be threadworthy

  10. #10
    The Money Team DMX7's Avatar
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    Yeah, except the Chinese government won't let it happen. Any sophisticated investor knows there is a risk/reward balance with buying Chinese stocks but it sucks to have the government toss a hand grenade in it.
    Given how much of a tear the NASDAQ has been on (think Amazon, Square, Apple, NVIDIA), I don't know why you'd even be looking at Chinese stocks with that extra risk build in. I rather all companies listed on the US markets have the same standards applied to them when it comes to audit quality.

  11. #11
    The Money Team DMX7's Avatar
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    Sure

    IMO this is nothing. Is things keep going this way w china most likely the internet will be broken up into at least 2 pieces. Now that would be threadworthy
    The internet as China knows it and the internet as most of the rest of the world knows it is already two separate places given all the censorship.

  12. #12
    Veteran hater's Avatar
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    The internet as China knows it and the internet as most of the rest of the world knows it is already two separate places given all the censorship.
    Yes and no. I been to hong kong and was able to access most of my banking, utilities and info sites.

    But Im talking about splktting the internet ibto China/Russia and their allies as internet roots. And the western US roots. Im talking about regional firewalls

    Im talking about domain names, addressing,etc.

  13. #13
    The Money Team DMX7's Avatar
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    Yes and no. I been to hong kong and was able to access most of my banking, utilities and info sites.
    Bro, Hong Kong and mainland China are two very different places... The censorship is in the mainland.

    But Im talking about splktting the internet ibto China/Russia and their allies as internet roots. And the western US roots.

    Im talking about domain names, addressing,etc.
    I haven't really thought much about that but maybe it could happen. I'm not sure it really needs to.

  14. #14
    🏆🏆🏆🏆🏆 ElNono's Avatar
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    This has warmonger Pompeo written all over it, tbh

  15. #15
    Veteran hater's Avatar
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    Bro, Hong Kong and mainland China are two very different places... The censorship is in the mainland.
    They were both china when I went. And my cousin went to beijing, he said its similar to HK. Its one of his favorite cities in the world.

    I haven't really thought much about that but maybe it could happen. I'm not sure it really needs to.
    The 3 superpowers will tussle for control. US seems bent on keeping control of the world internet. If 3 kids tussle for a toy usually the toy ends up breaking

  16. #16
    Mr. John Wayne CosmicCowboy's Avatar
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    Given how much of a tear the NASDAQ has been on (think Amazon, Square, Apple, NVIDIA), I don't know why you'd even be looking at Chinese stocks with that extra risk build in. I rather all companies listed on the US markets have the same standards applied to them when it comes to audit quality.
    meh. The Chinese amazon clones were trading too cheap last year for a buy and hold investment. I bought one at 29 last year and it dropped to 61 today. In 10 years I expect it to be 20 times that. Their market dwarfs ours. They are rising, we are falling. It was a good mad money Roth play.

  17. #17
    Mr. John Wayne CosmicCowboy's Avatar
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    Besides, sleepy Joe isn't gonna be mad at the Chinese. They made crack head Hunter rich. He will roll back Trumps threat that wasn't going to take place for two or three years anyway.

  18. #18
    bandwagoner fans suck ducks's Avatar
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    CNN)President Donald Trump said Saturday he has approved a deal between TikTok's parent company, ByteDance, and Oracle (ORCL), though it is unclear whether it will be enough to avert restrictions on TikTok that are scheduled to go into effect Sunday evening.

    Speaking to reporters, Trump said he approved the deal "in concept."

  19. #19
    dangerous floater Winehole23's Avatar
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    TechDirt is right, this is banana republic bull

    Okay, now back to the actual deal. Oracle and Walmart will team up to create a "new" (very much in quotes) company called TikTok Global that will be headquartered in the US. Of course, this is a joke. TikTok already has US operations. Oracle and Walmart will end up with a small equity stake in this "new" company (combined about 20%), but the Chinese company ByteDance will still own the majority of the company and will still control the TikTok algorithm. While there is some chatter about how the data will be hosted in the US, for the most part that was already true. Oracle says that it will review things to make sure that the data is secure, but remember, this is the same Oracle that collects a ton of data on internet users via Blue Kai, and then leaked it all. It's also the same Oracle that works closely with US spy agencies and isn't exactly known as being particularly good at security.

    As the NY Times notes, this deal appears to accomplish literally nothing. As we said before, it was all performative, letting Trump claim he had "done something," when the rationale for the deal ("national security") was always bogus, and this is proved by the fact that nothing in the new setup changes whatever national security questions there were about the app before. So, rather than force ByteDance to "sell" the company to protect "US national security" as the NY Times rightly notes all that came out of this was:

    A cloud computing contract for the Silicon Valley business software company Oracle, a merchandising deal for Walmart and a claim of victory for President Trump.

    As former FCC chair Tom Wheeler tells the NY Times:

    Vetting deals “is normally a process that involves multiple thoughtful people coming to the issue from multiple different concerns,” said Tom Wheeler, a former Democratic chairman of the Federal Communications Commission. “This appears as though what passes for process is what pleases one man: Donald J. Trump.”
    https://www.techdirt.com/articles/20...-friends.shtml

  20. #20
    Against Home Schooling Ef-man's Avatar
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    Quess tiktok won as they retain 80% in deal and trump folds like foldren

  21. #21
    dangerous floater Winehole23's Avatar
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    Quess tiktok won as they retain 80% in deal and trump folds like foldren
    Pretty much.

    The dictator is a strong/weak dyad. For example, Suetonius gives us that Julius Caesar, while still a General, slept with King Nicomides of Bythnia, because he wanted to see what it was like to sleep with the king.

    "Nicomides' catamite"

  22. #22
    Veteran
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    Trash will now boast that he saved Tik Tok from the situation Trash gratuitously, self-servingly created,

    so Tik Tok fans (if you'r old enough), vote Trash!

  23. #23
    dangerous floater Winehole23's Avatar
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  24. #24
    Against Home Schooling Ef-man's Avatar
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    Imagine the trump version of the twelve caesars using his tweets ?

    The early trump would destroy the older trump with his tweets.

    “ 3 Chief of Staffs in less than 3 years of being President: Part of the reason why BarackObama can't manage to pass his agenda.”. Jan 2012

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