Veils Of Venice

About Veils Of Venice

Are you listening, Oh you gaming industry execs? If you’re a CEO reading this, or a CFO, and you’re struggling with shut down casinos and mounting debt, I’m talking to you. You have only a few months at most to protect your companies from a hyperinflationary nuclear bomb that is about to go off and destroy everything in its path. The fuse is being lit as I write this. I will now describe the fuse.

About 18 months ago I wrote this weird, esoteric, wacky article. I made the case that once U.S. dollar interest rates went negative, all commodities would warp into backwardation. Meaning, the spot prices for all commodities would become more expensive than their futures price. This is now happening. Almost all commodities are now in persistent backwardation. All grains, sugar, lumber, and cotton; energy including natural gas and both Brent and WTI crude oil; base metals including copper, tin, and iron ore. They are all in backwardation now, and some have been that way for months now. The CRB commodities index is now climbing at its fastest pace ever, doubling since March.

And this is with various forms of lockdowns persisting in Europe and the U.S., which should mute industrial demand for commodities. Paper currencies are dying. That’s what’s happening, pure and simple. And they are about to get their death blow.

How to play Veils Of Venice

The problem is that many of these recommendations involve companies that are not authorised to operate in Brazil. Some may be licensed in other countries, but that doesn’t allow them to operate legally in the Brazilian market.

The research also found profiles of influencers known as tipsters, sports traders and “professional gamblers”. They sell access to groups, predictions, spreadsheets and other products related to betting, while presenting gambling as an income-generating activity.

According to The Intercept, some content even uses expressions like “leaving the CLT [Brazilian labour law]” and “your dream income” to promote this type of activity. There are also screenshots of alleged user earnings and posts that present gambling as a kind of investment.

What is Veils Of Venice?

“There should be, in my opinion, a review of the whole ISC or consumption tax framework and find a kind of alignment or a better way to get an income in terms of taxes, but that should be balanced in order to avoid the disruption of businesses and a migration of customers to the illegal market.”

Atucha warns there is a tipping point where higher taxes can undermine channelisation, citing the UK and Germany as important case studies.

“I sometimes wish regulators would look at other cases,” he adds. “I mean, what happened in Germany, what’s happening in the UK.”