Russian entrepreneurs use business magic, and Rife was punished for cringe advertising of cashback

Russian entrepreneurs use business magic, and Rife was punished for cringe advertising of cashback

Almost all the most important and interesting financial news in Russia and the world in a week: inflation in the USA does not fall, the economic Nobel Prize was given for research on women’s work, the crypto exchange Garantex is accused of financing the Palestinians, and Sam Bankman-Fried’s girlfriend told the court the whole truth about him.

Financial news from Russia, unfortunately, mostly does not correspond to the spirit of Habra. So you can read the full text version of this news release here, or watch the video.

A quarter of Russian entrepreneurs are not against using magic in business

According to the survey, 24% of managers of small and medium-sized businesses in Russia consider it useful to use supernatural help to make the right business decisions.

With such statistics in mind, I am looking forward to Ayaz Shabutdinov’s courses for entrepreneurs “Advanced business analytics using tarot cards” and “Magic field of miracles as a way to grow EBITDA 7 times”.

I also insist on the inclusion of Skolkov’s textbook “Harry Potter and methods of alchemical speculation with gold futures” in the MBA program

Rife will be made to go through the shame of atonement for the “wrong” cashback ad

Raiffeisen Bank once ran advertisements with slogans like “Cashback 1.5% on everything without conditions and restrictions!!*”, and under the asterisk was written in millimeter font within a second something like “Haha, what did you buy, something, you fool – of course, not all cashback, here is a list of restrictions for five screens! “.

After some time, FAS considered this advertisement incorrect, and as a result, the court obliged Rife to play a video rebuttal on the Ren-TV channel at least once a day for a week. I wonder what such a rebuttal video will look like, whether it will be performed in the form of an equally upbeat song, and what message will be sewn there?

Like, “Yes, we fooled you then about the cashback, but what’s the difference – we’re still going to sell the Russian business. Oh yeah, and good luck sending your swifts without our bank, happy to stay! (Yes, I borrowed this joke from Lyosh Podkletnov.)

The Finns came up with a life hack with the confiscation of real estate from foreigners

The Russians had previously managed to buy real estate in Finland. Then, in 2022, Russians had their accounts in this country closed en masse and made it somewhat difficult to enter it. As a result, housing and tax debts accumulate on this property (there is no way to pay them).

What solution do the guys from the Finnish Ministry of Justice propose? Of course, to simplify the expropriation of real estate from such unconscious owners! Now, before confiscating such property, it is necessary to contact its owner – which, given the problems with postal communication between Finland and Russia, may not be easy. Here, the Finns propose to include in the law so that such a message can be made via the Internet.

Lina Meri (Finnish Minister of Justice) be like: “Is there an email address? And if I find it?”

Prices in America continue to rise faster than Americans themselves want

Inflation in the US stubbornly does not want to fall below 3.7% (I will remind you that the Fed really wants to see it at the level of 2%). Investors fear that the Fed will have to keep the interest rate higher and longer – in October, the yield on ten-year US government bonds already reached 4.8% per annum.

Jerome Powell (Chairman of the Federal Reserve) looks disapprovingly at the fresh price tags at Walmart, I see

Why such bond yields are not the worst thing for investors, I wrote in more detail here.

Why women are paid less: the fresh Nobel Prize of 2023

The Nobel Prize in Economics was awarded to Claudia Goldin for her research on women in the labor market.

In particular, she found out that the thesis “women historically did not work, and only the educated 20th century gave them such an opportunity” is nonsense: on the contrary, this 19th century was a short-lived moment in the context of history when women temporarily stopped working. And before that, they worked full-time at home on a remote basis almost on a par with their husbands.

U-graph of women’s employment according to Goldin: in the 19th century, work moved from the home to all kinds of factories, so it became impossible to combine the household with work

Goldin also established that professionally women suffer from a kind of “motherhood curse”: before the birth of a child they are paid the same as men, and after that they are paid significantly less than men. And the whole thing is that women with children for some reason are not so eager to give all their strength to work: give them a more flexible schedule and the opportunity to devote time to children.

One of Goldin’s most famous studies was an analysis of the impact of blind auditions on the proportion of women in American orchestras. While the evaluation committee saw the candidates for the orchestra, it was “obvious” to everyone that women could not play as well as men. And as soon as the screen was drawn between those who were auditioned and those who were evaluated in the 70s, women suddenly began to be hired much more cheerfully.

They are trying to tie the Garantex crypto exchange to the Palestinians

The Wall Street Journal writes that before the attack on Israel, Palestinian militants were allegedly financed by $93 million through the Garantex crypto exchange popular in Russia. It has been under US sanctions since 2022, and now it is ready to be blacklisted.

So, despite the fact that Garantex is still one of the few large exchanges that allow you to trade crypto for rubles – be prepared that you will not be able to transfer the cryptocurrency purchased in this way to a “handshake” place for trading or storage.

By the way, Stanislav Drugalev (founder of Garantex) suddenly fell from a bridge in Dubai in 2021

Miracles on curls: FTX made an insurance fund with a random number generator

The trial of Sam Bankman-Fried continues. Last week, Caroline Allison was interrogated – Sam’s former combat girlfriend and the head of the Alameda hedge fund, which, in fact, planted client money withdrawn from the FTX crypto exchange.

Last week’s top luls:

  • Allison said that at one point, on Sam’s behalf, she prepared as many as 7 different balance sheets for Alameda, trying to come up with at least one version that would look relatively financially stable and not scare off the fund’s creditors.

  • Caroline kept a long file for herself in a secret googledoc with a list called “things that make Bankman-Fried cringe.” In general, if your woman has such a list about you, this is probably a red flag (not entirely sure, though, more about her or you).

  • On the FTX website, the volume of the “insurance fund”, which was supposed to protect the clients of the exchange in case of anything, was demonstrated online. So, it turned out in court that the number was stupidly derived, which is shown, with the help of a random number generator – it was not even about any connection with real money.

  • In 2021, Chinese regulators blocked wallets on the OKX and Huobi exchanges for $1 billion. Caroline told how she and SBF tried to pump this frozen money into the wallets of “Thai sex workers”. But it somehow didn’t add up, so as a result, it seems, they simply bribed the Chinese for thawing.

Caroline Allison. In short, all of Sam’s accomplices turned him in with guts. So they will all sit together. But the accomplices are short-lived, but Sam himself – to the limit…

Good news of the week

At the end of September, an African country called Angola introduced a visa-free regime with Russia (and with 89 countries in addition). Our old friend Art Krumpan (who lived there for almost 7 years) invites subscribers to arrange a take-off meeting there – he says, “it’s safe there, I’ve only been robbed a few times, and once I gave a tambourine to a passer-by.” Soulful, shorter!!


I have more financial news and author analytics in the Telegram channel RationalAnswer.

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