Micronations : EI Weekend 3350
A look at the world’s smallest — and frequently unrecognised — states.
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On this day in 1987, Bill Gates sent out a message to all Microsoft employees congratulating them on their work. Gates had just received data showing Microsoft had passed Lotus software in sales and profits for the year.
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MACRO THOUGHTS
The Macro is truly micro this week. Micronations
Further to recent media coverage of fake consul Harsh Vardhan Jain who remarkably managed to run a fake embassy for 9 years in Uttar Pradesh representing what the MSM harshly termed “non-existent nations,” this week we can bring you some more on the fantastic world of micronations with a selection of the nations least recognised by other states but often having idiosyncratic tourist or other schemes to support their oft disputed ‘nationhood.’
IN BIGWORLD
As hotel occupancy peaks in Europe and the northern hemisphere, I am saddened to note the demise of the Hotel Oloffson, a ‘gingerbread mansion’ which — thinly disguised as the Hotel Trianon — served as the backdrop to Graham Greene’s novel “The Comedians.”
Alas the Hotel Oloffson was burnt to the ground during recent gang warfare ravaging Haiti.
BITCARNAGE
China’s Eyeball Risk
CoinTelegraph reports Eye-Scanning Crypto Projects Pose National Security Risks, China Warns (Cointelegraph) with the Ministry of National Security noting in Mandarin, If You Lose These, You Can’t Change The “Password”.
All In!
So according to Barron’s, Everyone Is Along For The Crypto Ride Now, Even If It Ends Badly as Trump To Allow Crypto In 401k Retirement Plans For US Workers: White House (Cointelegraph). Presumably many are along for the ride in some form of Stockholm syndrome?
Vast Inflows
VC alone is expected to be monumental this year, DL News reports Why VC Investments Into Crypto Are Seen To Hit $25bn In 2025. That leads not just to nifty Squid Games cartoons but also to… A lot of concerns. Given this vast influx of cash, for instance, how come SO many crypto-related projects are struggling to keep funding? That’s IMHO a huge worry as a lot of folks are running on relatively meagre budgets, having failed to find their sweet spots along the way. I am not sure this is good news, as it seems a blind wall of money is being thrown at an industry that has vast stock inflation in places, but mostly still loses money? That’s gold rush meets bubble territory, I fear.
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Alternatively, if you want to follow Bitcarnage — the daily update on happenings in the world of crypto and digital assets, then you can find Bitcarnage as a standalone on Substack.
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EXCHANGE INVEST WEEKLY PODCAST
ASIC Moves,
EI Is Right Again On Many Levels,
SGX Ticks Up,
And A Debate Is Raging Over Retail Priorities.
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OF INTEREST
As always, a review of interesting reading to provoke thoughts and consideration… Not sure we agree with much of it….but it’s thought-provoking!
History: Principato di Seborga
Principato di Seborga
NB His Excellency Harsh Vardhan Jain, was a “Royale Consigliere, Principato di Seborga (Nitin Jain, Vikas Sharma Appointed Hon. Consuls Of Seborga — TheTribuneOnline)” although this relationship ceased after his arrest.
PLY: I have visited Seborga and in the past met the late Prince Giorgio who established the newly independent state based around what appears to be unclear title about the territory which was once owned by a monastery. Notably, Seborga may appear a joke to others but the village (sorry, nations) attracts at least 3X as many tourists as any Ligurian hill village in the Italy which surrounds Seborga.
Ladonia: An Independent Cultural & Artistic Micronation
Ladonia
“Ladonia is situated on one square kilometer of land on the Kullaberg Peninsula in Southern Sweden. The path into Ladonia is 2.5km through the woods along a winding path to the sea (you can’t get here by car!) It is a bit of a trek, but the reward is the opportunity to explore Nimis, a 75 ton sculpture/labyrinth made of driftwood.”
PLY: Also a nation with Harsh Vardhan Jain representing them diplomatically in India.
PLY: Also represented by Harsh Vardhan Jain albeit his other charge Poulvia, I have yet to understand. Finally this week let’s look at a classic pair of Micronations, both founded by the sorts of eccentric folk who make the world a richer and more interesting place
Principality Of Hutt River
Wikipedia
PLY: A legendary micronation which was born out of a dispute over wheat quotas from the socialist West Australian collectivist government in Perth. A year after the death of founding Prince Leonard Casley, Hutt River opted to return its 75 square miles of territory to Australian jurisdiction in 2020:End of an empire: Hutt River to rejoin Australia after 50 years (WA Today) making it perhaps the only nation to entirely collapse during the Covid pandemic.
History Of A Nation
Sealand
PLY: Established as a haven for pirate radio, outside UK sovereign waters (back before Soundcloud, radio was big and because the government kept licences restricted some folks eager to play risque rock n roll set up stations offshore, particularly beyond the UK’s 3 mile territorial limites. Thus a former UK defence platform was turned into a micronation by Roy Bates whose tales of dering do in battling the British Royal Navy and defending himself in a UK court in 1968 are described in the link above.
BOOKS WORTH READING:
Finance Book Of The Week
“Messina’s Federal Budget” by Christopher Messina is a comprehensive critique of the entire Federal Budget written for the widest audience possible telling the reader how each department got its start, and why many of those branches of the Administrative State can and should be eliminated.
Get the book here.
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Suggestions welcome if you would like to nominate a book for us to cover!
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Capital Market Revolution
First published in 1999, “Capital Market Revolution!” offered a clear, concise roadmap for navigating the financial revolution fueled by technology. And 25 years later, as the world of fintech continues to evolve, the core principles laid out in the book remain surprisingly sharp
This new edition was produced to celebrate PLY ringing the NYSE Closing Bell July 5th, 2024. There are several new sections of PLY pith to add 10,000 more words of context and the original book which is remarkably prescient and elegantly dated all at once! It’s only $9.99 on Kindle, a fraction of the original price in 1999 to encourage revolutionaries with any budget!
Get the book here.
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LAST WORD
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