06Mar
Cryptocurrency skeptic Mark Mobius who called the sector too dangerous to invest says he can’t get his money out of china investments due to restrictions and capital control. #Cryptocurrency #skeptic #Mark #Mobius #called #sector #dangerous #invest #money #china #investments #due #restrictions #capital #control
Cryptocurrency skeptic Mark Mobius who termed the sector too dangerous to commit states he are not able to get his money out of china investments thanks to restrictions and cash control.
BREAKING: Mark Mobius Claims He Can't Get His Dollars Out of China Investments because of to constraints and money management.
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— Carl ₿ MENGER ⚡️🇸🇻 (@CarlBMenger) March 5, 2023
Comments (25)
“It’s just amazing. They’re putting all kinds of barriers,” he said. “They don’t say, ‘No, you can’t get your money out,’ but they say, ‘Give us all the records from 20 years of how you’ve made this money,’ and so forth. It’s crazy.”
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Hell, this sounds like our own IRS. So, what’s the difference? The price of centralization. We’ve been warned. Act accordingly.
Whoopsie
Learned not your key not your coins the hard way. Bitcoin fixes this.
[It’s morbin’ time!](https://www.youtube.com/watch?v=2g4lKl0Mjlw)
The trucker supporters in Canada had their bank accounts frozen last year for donating to their cause. We are also not as safe or free in the West as many think…
lol what happened? he got controlled and sanctioned? what a surprise! should have used bitcoin instead lmao
Apparently he is not paying off the right govt officials
People like Mark Mobius are like the passengers on the Titanic that scoff at the lifeboat because they think the ship is unsinkable. And then they find out the hard way that having rights or contracts will not protect you from catastrophic events.
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It’s difficult to orange-pill people in the West since they simply have no experience of significant state corruption, black swans or theft.
IMHO my peers overestimate the robustness of many financial assets (property, bonds, foreign shares) because we’ve lived through ~70 years of exceptional peace, prosperity and property rights.
You can sue and kick and scream if someone infringes your property rights, you can criticise the government, you can complain to the media.
In the West, it’s unthinkable that someone could ever seize assets at scale, or impose restrictions or controls. Unthinkable, but not impossible.
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But things like the 08 financial crisis, confiscation of foreign shares, Russia invading Ukraine brings us into contact with the possibility that yes, someone really could just take our wealth, our home or our freedom from us.
Maybe he forgot his Chinese seed phrase?
Someone needs to tell him to use the chinese yuan to buy btc in china, then he can move the btc however he wants. I realize that buying btc in china is probably a black market transaction, but it can still be done.
This is no different than leaving your assets in the hands of CEXes. Do not go celebrating anytime soon if your asset is in the custody of anyone but you. If it is not a [DEX](https://np.reddit.com/r/zetablockchain/comments/116x61y/understanding_zetachain_technical_details_and_use/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button)/DeFi, stay clear of them.
ya well, a lot of people can’t get their money out of FTX, Celsius or BlockFi. we’re not really in a position to be calling our investment safer than anything right now.
I wonder if the Canadian public pension funds, which are exposed to Chinese companies, won’t be cashing out on this exposure too.
I think it’s call irony. And people appreciate it.
Irony is a bitch
lol
lmao, even.
Good
He never owned his money in the first place, but the CCP does.
Hi Carl
china is going Morbin time on his money
He knew of this risk, but perhaps became complacent and hopeful, like many in the west have regarding The Tiger. Also, he might have insurance and hedging in play that is not reported on.
The guy said bitcoin is too dangerous to invest in and then invested IN CHINA? What a dumbass
Lol
Lol
r/LeopardsAteMyFace