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| Cheaper than machines, working 70 hours under exploitive laws in the US |
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Posted by: superadmin - 07-03-2022, 02:30 PM - Forum: Politics
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GT investigates: Cheaper than machines, working 70 hours under exploitive laws – life of 500,000 US child farm workers
Inmates in prisons are subject to labor exploitation, minors working as child laborers are abused, human trafficking remains rampant: Today, more than 150 years after the abolition of slavery in the US, the above-mentioned problems still exist in the country. Some American politicians have racked their brains to fabricate the "sad narrative" of "forced labor" in China's Xinjiang region, but a lie repeated a thousand times is still a lie. It is the US, a self-claimed "human rights defender" and "beacon of freedom," that should be held accountable for using forced labor, as the tragedies happening on US soil plainly demonstrate the US' disregard for basic human rights and their brutal exploitation of the country's workforce.
The Global Times is publishing a series of stories that will uncover the four crimes of the US, a real "modern slavery empire." The following is the second installment of the series: Cheaper than machines, working 70 hours under exploitive laws - life of 500,000 US child farm workers.
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| Crypto billionaire Sam Bankman-Fried says more exchanges will fail |
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Posted by: superadmin - 07-02-2022, 05:47 PM - Forum: Business, Economy and Investment
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Crypto billionaire Sam Bankman-Fried says more exchanges will fail: ‘There are companies that are basically too far gone’
The so-called crypto winter isn’t over yet — and a number of cryptocurrency exchanges have already run out of cash, billionaire and founder of crypto exchange FTX Sam Bankman-Fried said on Tuesday.
There are “some third-tier exchanges that are already secretly insolvent,” Bankman-Fried told Forbes. The 30-year-old’s own fortune has taken a significant cut this year as crypto has crashed, but still sits at $8.1 billion, according to Bloomberg.
Bitcoin, the largest cryptocurrency by market value, lost 58% of its value in the second quarter of the year, putting it on pace for its worst quarterly performance since 2011. It fell below $19,000 on Thursday, a long way from its all-time high of nearly $69,000. Bitcoin led the slide of the overall cryptocurrency market, whose market valuation now sits below $1 trillion, down from its November 2021 peak of more than $3 trillion.
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| Five reasons bitcoin had its worst quarter in more than a decade |
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Posted by: superadmin - 07-02-2022, 05:31 PM - Forum: Business, Economy and Investment
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- Bitcoin lost about 58% of value in the second quarter of 2022, posting its worst quarterly performance since 2011.
- Macroeconomic issues, such as rising interest rates and rampant inflation, led to a sell-off in stocks and filtered through to the cryptocurrency market.
- But the industry has also seen a wave of liquidity concerns, with hedge fund Three Arrows Capital going into liquidation and lending firm Celsius pausing withdrawals for customers.
- The quarter also saw the collapse of algorithmic stablecoin terraUSD which sent shockwaves through the industry.
Bitcoin just had its worst quarter since 2011 and its worst month on record.
The world’s largest cryptocurrency lost about 58% of value in the second quarter of 2022. Around $1.2 trillion has been wiped off the entire cryptocurrency market.
Amid the chaos, crypto firms have announced layoffs and the industry is moving toward consolidation via acquisitions.
Here are five flashpoints that hit the cryptocurrency industry last quarter.
1. Macroeconomic pressure
During the quarter, the U.S. Federal Reserve carried out two aggressive interest rate hikes to battle rampant inflation. That has sparked fears of a recession in the U.S. and other countries.
It has also hit stocks, in particular high-growth technology names. The tech-heavy Nasdaq Composite is down 22.4% for the second quarter, its worst quarterly performance since 2008.
Bitcoin has been closely correlated to the price movement of U.S. stock indexes. The stock sell-off has weighed on bitcoin and the crypto market as investors dump risky assets.
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| The best movies of 2022 (so far) — and how to watch them |
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Posted by: superadmin - 07-02-2022, 11:59 AM - Forum: English Movies
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The year is half over, believe it or not. But while studios often hold their most prestigious releases for the second half of the year, 2022 has already served up a feast of cinema worth seeing — if you know where to look. From blockbusters to microbudget indies, documentaries about political issues to a mockumentary about a tiny talking shell, here are the 21 best movies of 2022 ... so far.
21. Downfall: The Case Against Boeing
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| Major crypto broker Voyager Digital suspends all trading, deposits and withdrawals |
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Posted by: superadmin - 07-02-2022, 11:08 AM - Forum: Business, Economy and Investment
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- Digital asset brokerage Voyager Digital is pausing all customer temporarily suspending customer trading, deposits, and withdrawals, according to a statement released Friday afternoon.
- “This was a tremendously difficult decision, but we believe it is the right one given current market conditions,” said Stephen Ehrlich, CEO of lending company Voyager.
Digital asset brokerage Voyager Digital has paused all customer trading, deposits, withdrawals and loyalty rewards, according to a statement released Friday afternoon.
“This was a tremendously difficult decision, but we believe it is the right one given current market conditions,” said Stephen Ehrlich, CEO of lending company Voyager.
Erlich went on to say that the decision is designed to give the firm additional time to continue “exploring strategic alternatives with various interested parties” and that they will provide additional information at “the appropriate time.”
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| The Good, the Bad and the Ugly: Episode 7 – a chat with ex-Perak MB Zambry on Umno |
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Posted by: superadmin - 07-02-2022, 10:30 AM - Forum: Politics
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The Good, the Bad and the Ugly: Episode 7 – a chat with ex-Perak MB Zambry on Umno, BN and GE15
The panel – with Umno Supreme Council member Zambry – discussed the possible split in the party, divergence of opinions, the evolution of BN and whether there is a hope of achieving the bigger picture, which is a stable Malaysia.
Will Umno reset its approach heading into the next general election? What issues will Umno resolve before that? What if there is no clear winner?
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| The most dangerous infliction on Islam in M’sia is corruption – Patriot |
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Posted by: superadmin - 07-01-2022, 07:59 PM - Forum: Stop Corruptions
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PATRIOT refers to the news report where our minister in the Prime Minister’s Department (Religious Affairs) Datuk Idris Ahmad yesterday sent out a stern reminder to certain quarters to stop insulting Islam as such issues are very sensitive.
We certainly cannot disagree with the minister, and so we register our support for his call and concern. He expressed concerns that provocations could lead to untoward incidents.
His warning: “I would like to remind those who insult Islam, especially those who reside in this country, to stop the insults,” is a timely warning against those who hurt the feelings of Muslims here.
In fact, our police force has been doing a very good job in maintaining peace and harmony through prompt and effective actions all these decades, and by ensuring that insults on Islam are quickly dealt with – negating any potential chaos in the country.
On that same account, Malaysians too know how to respect each other’s religions and the track record of non-Muslims towards Islam is praiseworthy. However, the biggest insult to Islam is corruption – especially when it is committed by Muslims here.
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| IMF-Sri Lanka bailout talks end without a deal |
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Posted by: superadmin - 07-01-2022, 02:09 PM - Forum: Business, Economy and Investment
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- The International Monetary Fund has ended talks with Sri Lanka, failing to conclude a deal for a bailout package for the near-bankrupt nation after 10 days.
- Nevertheless, in a statement released around noon Sri Lanka time on Thursday, the IMF promised to keep up the talks, which began on June 20.
- Sri Lanka, an island nation of 22 million people, is facing its worst financial crisis since independence in 1948, which has left it struggling to pay for essential imports and forced it to default on some foreign debt.
The International Monetary Fund has ended talks with Sri Lanka, failing to conclude a deal for a bailout package for the near-bankrupt nation after 10 days.
Nevertheless, in a statement released around noon Sri Lanka time on Thursday, the IMF promised to keep up the talks, which began on June 20. “The discussions will continue virtually with a view to reaching a staff-level agreement on the extended fund facility or EFF arrangement,” it said.
The EFF was established to assist countries with “serious payment imbalances,” according to the IMF. In addition, it provides support for policies “needed to correct structural imbalances over an extended period.”
Sri Lanka, an island nation of 22 million people, is facing its worst financial crisis since independence in 1948, which has left it struggling to pay for fuel and forced it to default on some foreign debt.
Left with just enough fuel for about a week and fresh shipments at least two weeks away, Sri Lanka has imposed restrictions on supplies, limiting them for use for public services like trains and buses and those relating to the health sector, Reuters reported. The ban is scheduled to last two weeks.
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| Why is Annuar leading panel to fight inflation, asks Wong Chen |
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Posted by: superadmin - 07-01-2022, 10:23 AM - Forum: Politics
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PETALING JAYA: Subang MP Wong Chen has criticised the government’s choice of a Cabinet minister to chair the special committee to fight inflation.
He said no minister or ordinary politician was suitable for the job because the issue of inflation required a highly technical mind to handle it.
“Economists and technocrats from Bank Negara Malaysia should be leading the nation’s fight against inflation,” he told FMT.
The person chairing the committee is communications and multimedia minister Annuar Musa.
Wong Chen said the committee would be a toothless replacement of the National Recovery Council chaired by former prime minister Muhyiddin Yassin unless it was given “some extraordinary powers and a big budget”.
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