Tax & Casino Winnings: Do I Have to Pay Tax?

[Politics] - Lawmakers could act to cut Chicago casino tax rates on final day of fall veto session | Chicago Tribune

[Politics] - Lawmakers could act to cut Chicago casino tax rates on final day of fall veto session | Chicago Tribune submitted by AutoNewspaperAdmin to AutoNewspaper [link] [comments]

[Politics] - Lawmakers could act to cut Chicago casino tax rates on final day of fall veto session

[Politics] - Lawmakers could act to cut Chicago casino tax rates on final day of fall veto session submitted by AutoNewsAdmin to CHICAGOTRIBauto [link] [comments]

Why did the casino ammendment cause the tax rate to be reduced for Oaklawn and Southland?

Why did the casino ammendment cause the tax rate to be reduced for Oaklawn and Southland? submitted by n8theGreat to Arkansas_Politics [link] [comments]

TIL that in 2008 Danish citizen Peter Eastgate won more than $9 million in the World Series of Poker but because of high tax rates on casino winnings, he actually kept less than the second and third place winners.

TIL that in 2008 Danish citizen Peter Eastgate won more than $9 million in the World Series of Poker but because of high tax rates on casino winnings, he actually kept less than the second and third place winners. submitted by Frank9988 to todayilearned [link] [comments]

Lost in the Sauce: Trump, Cruz, and Gohmert team up to incite election-related violence

Welcome to Lost in the Sauce, keeping you caught up on political and legal news that often gets buried in distractions and theater… or a global health crisis.
Housekeeping:

Election shenanigans

I put the latest info on Trump's phone call to Raffensperger in this comment.
According to experts, Trump’s conduct has potential criminal exposure:
A federal statute makes it a crime when one “knowingly and willfully … attempts to deprive or defraud the residents of a State of a fair and impartially conducted election process, by … the procurement, casting, or tabulation of ballots that are known by the person to be materially false, fictitious, or fraudulent under the laws of the State in which the election is held.”
A Georgia statute similarly provides that a “person commits the offense of criminal solicitation to commit election fraud in the first degree when, with intent that another person engage in conduct constituting a felony under this article, he or she solicits, requests, commands, importunes, or otherwise attempts to cause the other person to engage in such conduct.”
…The hard part for prosecutors would be proving Trump’s state of mind, because the statutes require proof of knowledge and intent. Prosecutors would have to show that Trump knew that Biden fairly won the election, and Trump was asking for Georgia officials to commit election fraud. And it’s not clear prosecutors could make that case.
At least 12 Republican senators plan to challenge Biden’s Electoral College win on Jan. 6, when Congress is set to officially count the votes. The effort is being led by Sen. Ted Cruz (R-Tex.) and includes Sens. Ron Johnson (R-Wis.), James Lankford (R-Okla.), Steve Daines (R-Mont.), John Kennedy (R-La.), Marsha Blackburn (R-Tenn.), and Mike Braun (R-Ind.), as well as new Senators Cynthia Lummis (R-Wyo.), Roger Marshall (R-Kan.), Bill Hagerty (R-Tenn.), and Tommy Tuberville (R-Ala.). Separately, Sen. Josh Hawley (R-Missouri) is pursuing a similar plan.
"Congress should immediately appoint an Electoral Commission, with full investigatory and fact-finding authority, to conduct an emergency 10-day audit of the election returns in the disputed states. Once completed, individual states would evaluate the Commission’s findings and could convene a special legislative session to certify a change in their vote, if needed," the senators said in a joint statement. “Accordingly, we intend to vote on Jan. 6 to reject the electors from disputed states as not ‘regularly given’ and ‘lawfully certified’ (the statutory requisite), unless and until that emergency 10-day audit is completed."
Their plan is not going to succeed in preventing Biden from taking office, as majorities in both the House and the Senate would need to support a challenge against a state’s electoral votes. For an objection to be made, at least one member of both the House and Senate would need to submit it in writing. Then, the House and Senate separately convene to consider the issue. Debate is limited to two hours for each objection. After debate concludes, the House and Senate vote to uphold the objection and throw out the state’s votes. If the majority of the House AND the majority of the Senate does not uphold the objection, the state’s electoral votes are counted as cast.
  • Vice President Mike Pence’s role is simply to preside over the joint session, opening and presenting the certifications from each state. In his absence, the Senate pro-tempore Sen. Chuck Grassley (R-Iowa) will lead the session. At the end of the process, the presiding officer announces who has won the majority of votes for president and vice president.
The most immediate danger from Trump and Cruz’s doomed election gambit is rightwing terrorism and general violence: Trump, in particular, is inciting his supporters to swarm D.C. on Jan. 6. “JANUARY SIXTH, SEE YOU IN DC!” Trump tweeted last week. Four rightwing rallies are scheduled, including one headlined by George Papadopoulos and Roger Stone.
The Proud Boys and other extremists are planning to attend the rallies and may set up an “armed encampment” on the National Mall, according to the Washington Post. On social media platform Parler, the leader of the Proud Boys said that members will be there “incognito” and may “dress in all black” to impersonate leftwing protestors.
Enrique Tarrio: "The ProudBoys will turn out in record numbers on Jan 6th but this time with a twist...We will not be wearing our traditional Black and Yellow. We will be incognito and we will spread across downtown DC in smaller teams."
Rep. Louie Gohmert has more explicitly tried to incite violence, saying the failure of his legal challenge to the election means “you gotta go the streets and be as violent as Antifa and BLM.” (clip)
  • At the same time, pro-Trump lawyer Lin Wood suggested that Pence could “face execution by firing squad” for “treason” if he doesn’t go along with the attempt to subvert the election.

Obstructing the transition

Biden’s transition director has accused the Office of Management and Budget of stonewalling the incoming administration’s team. OMB Director Russ Vought is not allowing key staff to meet with the transition team to help prepare the president-elect’s first annual spending plan, a move that could delay major proposals. Vought pushed back on the charges, saying that his agency needs to focus on finalizing the Trump administration’s regulations before the president leaves office.
“OMB leadership’s refusal to fully cooperate impairs our ability to identify opportunities to maximize the relief going out to Americans during the pandemic, and it leaves us in the dark as it relates to Covid-related expenditures and critical gaps,” [Biden transition Exec. Dir. Yohannes] Abraham said.
Earlier last week, Biden himself said Trump officials are not cooperating with his team, singling out the Defense Department for obstructing information on crucial national security issues. “Right now, we just aren’t getting all the information that we need from the outgoing administration in key national security areas. It’s nothing short, in my view, of irresponsibility,” Biden said. The Defense Dept. finally scheduled meetings with the incoming team this week, after not briefing the transition for weeks.
  • The timing of the resumption in meetings is notable because it comes after the one year anniversary of the U.S. assassination of Iranian Maj. Gen. Qassem Soleimani on Jan. 3. NATO officials are reportedly worried about the lack of coordination from the Trump administration: "We need the incoming Biden administration to be fully briefed and ready to deal with these very dangerous issues facing NATO's security."

Sabotaging the Biden Administration

U.S. Agency for Global Media CEO Michael Pack is taking steps to keep control of Radio Free Europe and Radio Free Asia during the Biden administration. As chairman of the boards of Radio Free Europe and Asia, Pack and his fellow members have added binding contractual agreements that will make it impossible to remove him or other pro-Trump allies from the board in the next two years.
In other words, although President-elect Joe Biden has already signaled he intends to replace Pack as CEO of the parent agency soon after taking office in January, Pack would maintain a significant degree of control over the networks.
The State Department is likely to designate Cuba as a state sponsor of terrorism “as an 11th hour effort to create hurdles for the incoming Biden administration.” The label, which requires the approval of Secretary of State Mike Pompeo, would undo a major accomplishment of the Obama administration. To take Cuba back off the list, the Biden team would need to conduct a formal review, a process that might take several months.
Such a designation would impose restrictions on US foreign assistance, a ban on defense exports and sales, certain controls over exports and various financial restrictions. It would also result in penalization against any persons and countries engaging in certain trade activities with Cuba.
The Trump administration has been rushing to finalize a myriad of rules before Biden’s inauguration. Since Election Day, the Trump administration has issued about three to four times as many new regulations as it did during other periods of Trump’s presidency. Rules that haven’t been finalized or taken effect can be suspended by an incoming president, which Biden has said he intends to do. By contrast, rules that are finalized can take months, or even years, to undo.
“As a general rule, it takes at least as much process to undo or modify a rule as it does to put the rule in place,” said Jonathan H. Adler, a professor and an administrative law expert at Case Western Reserve University School of Law. “The Trump administration is magnifying that challenge for the Biden administration.”
Trump loyalists are urging the president to stymie Biden’s efforts to rejoin the Paris climate agreement and the Iran nuclear deal. Sens. Ted Cruz and Lindsey Graham are working to get the agreements submitted to the Senate for ratification, requiring a two-thirds vote, with the goal of failure. While such an outcome wouldn’t prevent Biden from rejoining the accords, Cruz and Graham hope it would make their resurrection more problematic.
A vote against them would signal GOP opposition to the world and, they hope, undermine any unilateral action by Biden to rejoin the agreements. One senior congressional aide told RCP that sending them to die in the Senate “would be the final nail in the coffin.”
Further reading: “Biden To Be Saddled With Trump’s Payroll Tax Deferral Mess,” Forbes.
Further reading: Biden will inherit a backlog of tens of thousands of visa requests from the wars in Iraq and Afghanistan — and a bureaucratic tangle that refugee advocates say President Trump ignored or made worse.

Trump money and properties

Manhattan District Attorney Cyrus Vance is employing forensic accounting specialists to examine Trump’s finances and business operations. Vance is looking “for anomalies among a variety of property deals” and trying to determine “whether the president’s company manipulated the value of certain assets to obtain favorable interest rates and tax breaks”.
The analysts hired by Vance probably have already reviewed various bank and mortgage records obtained from Trump’s company as part of the ongoing grand jury investigation, and they could be called on to testify about their findings should the district attorney eventually bring criminal charges
In yet another shady business deal connected to Trump, the United States sold the ambassador’s residence in Israel for more than $67 million. The person who bought the residence is none other than Trump mega-donor Sheldon Adelson. The property only became available due to Trump's controversial decision to relocate the U.S. Embassy from Tel Aviv to contested Jerusalem. Furthermore, State Dept. representatives reportedly lied to Congress about the sale, perhaps to hide that Adelson purposefully overbid.
For now, there is no alternative residence for the ambassador, David Friedman, Trump’s former lawyer, who currently uses a suite at Jerusalem’s King David Hotel or rooms at the former Jerusalem Consulate General when he spends nights in Jerusalem… As a result, the United States appears likely to end up leasing the residence it has owned since 1964 from the GOP-affiliated casino mogul.
“It is very strange that we are now paying Sheldon Adelson,” a congressional aide told The Daily Beast. “It is not above board. We have a number of questions. Did they get two independent appraisals? Was it a sweetheart deal? Was Adelson the highest donor? Was there a reason to sell it now?”
Trump’s businesses have taken in $10.5 million of donor money over the course of his presidency. $8.5 million came from the Trump campaign and related entities that Trump controls directly; $2 million came from other Republican candidates and committees. The biggest beneficiary was Trump’s NYC hotel, taking in $3,039,979 over the four years of his presidency, with $891,003 of that in just the final four months of the campaign.
Trump’s DC hotel is ramping up room prices and requiring a two-night minimum stay for two key events this month, as the president tries to squeeze more profit out of his office. On Jan. 6, when Congress is set to formally count the votes cast by the Electoral College, room rates are listed at over eight times the price of surrounding dates. Trump is encouraging his supporters to attend a protest of Biden’s win on the 6th. A room during the inauguration costs five times the normal rate, at $2,225 per night.
Trump’s Turnberry Resort in Scotland posted a £2.3 million ($3.1 million) loss in 2019, marking the sixth year in a row it has failed to turn a profit under his ownership. Since Trump took over the historic property in 2014, its losses now total nearly £45 million ($61.5 million).
The fact Turnberry remains in the red comes in spite of significant tranches of payments it has received from the US government during Mr Trump’s single term in office… the US Secret Service spent nearly £25,000 to accommodate its agents at the resort during business trips by Mr Trump’s son, Eric, an executive vice-president of the family firm. Since Mr Trump’s election, the property has received close to £300,000 from the Secret Service, US State Department, and US Defence Department
A Florida state lawmaker is calling for Mar-a-Lago to be penalized - and possibly shut down - for flouting coronavirus restrictions during a New Years Eve party. While Trump and the first lady did not attend, son Don Jr., attorney Rudy Giuliani, Rep. Matt Gaetz, and Fox News personality Jeanine Piro were captured on video among the maskless crowd. Guests paid as much as $1,000 for access to the ballroom to be entertained by Vanilla Ice.
State Rep. Omari Hardy: “My constituents are not snowbirds like @DonaldJTrumpJr & @kimguilfoyle. My constituents live here. This is their home, and they're going to have to deal w/ the consequences of a potential super-spreader party at Mar-a-Lago long after Junior & wife leave here on their private jet.”
Are you ready for a Donald J. Trump Airport? According to the Daily Beast, Trump has been asking aides about the process of naming airports after former U.S. presidents.
Further reading: “Jared Kushner’s family real estate business wants to raise at least $100 million in capital through Israel’s bond market… Kushner has helped spearhead a series of moves that have been applauded by the conservative pro-Israel community, including moving the U.S. Embassy to Jerusalem from Tel Aviv and recognizing Israeli sovereignty in disputed areas such as the Golan Heights. Kushner also has close ties to Israel’s prime minister, Benjamin Netanyahu.”

Miscellaneous

The Census Bureau missed it’s end-of-year deadline to produce numbers that determine representation in Congress and the Electoral College for the next decade. The agency is working toward Jan. 9 as an internal target date for completing the current stage of processing records. "If we miss Jan. 9, it's hard to envision that we would get apportionment done before inauguration," a Census employee told NPR.
The final timing of the 2020 census results' release could undermine President Trump's efforts to make an unprecedented change to who is counted in key census numbers before leaving office… If the first census results are not ready until after Trump's term ends on Jan. 20, it would be President-elect Joe Biden, not Trump, who would get control of the numbers, which are ultimately handed off to Congress for certification.
submitted by rusticgorilla to Keep_Track [link] [comments]

[Local] - Casinos consider state's new tax rates a questionable gamble for them

[Local] - Casinos consider state's new tax rates a questionable gamble for them submitted by AutoNewsAdmin to PGHPOSTauto [link] [comments]

[Local] - Casinos consider state's new tax rates a questionable gamble for them | Pgh Post-Gazette

[Local] - Casinos consider state's new tax rates a questionable gamble for them | Pgh Post-Gazette submitted by AutoNewspaperAdmin to AutoNewspaper [link] [comments]

Pelican Town from a Urban Planning Perspective

Any other urban planners/policy folks play this game? I’m an urban planning student who has spent too many quarantine hours playing SDV and at the risk of deeply questioning how I spend my time, I’ve been thinking about it from a planning perspective. Please tell me someone else has thought about this.
Pelican Town (pop. ~35) is a small, rural town within a few hours of the nearest big metropolitan area. The town appears to have had an industrial past, with all the decayed mining infrastructure. Like many rural towns that were once anchored by industry, Pelican Town has struggled to rebuild its post-industrial economy and identity.
The Mayor’s strategy is to look towards tourism, culture, and recreation for the town’s future. He holds an abundance of traditional festivals to preserve the town’s cultural identity and market its quaint, rural character to visitors from neighboring areas. He hopes the farmer’s high-quality local produce and artisan products will contribute to Pelican Town’s renewal. He also thinks the arts could drive the town's revitalization (Leah's art show). The town also has an abundance of natural assets, although I'd worry about point source pollution from the sewer pipe and the quarry is totally a brownfield site.
Encouraging tourism is a sound strategy in Pelican Town, but it’s not a panacea - it won’t necessarily increase the tax base to help the town’s financial problems, and the jobs created will mostly be in the service sector. The neighboring town, Calico Desert, is another post-mining economy that is looking to tourism and has opened a casino.
Economy: [EDIT: I did not do the math here. The unemployment rate is higher. Still not sure if the wizard has a job.] The unemployment rate is only about 3% (this is arguable. does the Wizard have a job?), indicating that the economy is basically at capacity. The jobs are not well-paying, though (the town was chosen for a discount Jojamart, like many rural towns attract dollar stores). Without good jobs for young people and lacking educational opportunities, the town is at risk of losing the younger population to other towns/the city. There’s potential for more small businesses if tourism increases, or for more remote work (though it doesn’t seem like Pelican Town has good internet infrastructure and computer ownership is low.)
Transit: The town also suffers from a lack of transportation. Vehicle ownership is low (just the Mayor and Sebastian’s motorcycle, I think), the town is looking for private investment to restart bus service (should really form a regional transit authority with Calico Desert and get government funding), and though the train with the platform hints that there may have once been commuter rail, it’s currently only used for freight.
Population: Pelican Town’s population, as it stands, will decline. There are only 2 children (Vincent and Jas) but close to 20 residents who are 40+. There are 12 residents in the 20-40 age group (the bacheloettes), who need to stay in Pelican Town and start families to reverse the decline. As in many rural areas, substance abuse is a problem in Pelican Town. There are a few alcoholics and I’m not gonna get on Sebastian’s case for smoking a little weed and who knows what’s in Pierre’s stash, but there’s clearly little else to do in town besides hang out at the Saloon.
Housing: If young people choose to marry and stay in Pelican Town, where will they live? The vacancy rate is 0 and most bacheloettes live with their families. New housing will need to be built to retain them, but most probably cannot afford to build a house. The town will also need to carefully choose areas for development to maintain the natural assets that draw tourists. The town seems to use a form-based code in the town center (two-story mixed-use buildings).
Solutions: The town is relying on the goodwill and prosperity of a private citizen (the farmer) to revitalize the Community Center, build houses, etc. - Mayor Lewis should rely less on one-time private investments and focus on more reliable funding sources and economic growth that will increase the tax base. The town is facing a housing crisis and should consider mixed-use development/apartments in the Community Center neighborhood to prevent sprawl. The town needs to invest in transportation and communication infrastructure to improve access to jobs and education. The vacant land near the train station is a great spot for a TOD and some denser development if the Valley could start commuter rail service, but I bet Robin & Demetrius would be NIMBYs who don’t want development near their mountain home.

TL;DR: Mayor Lewis is making you do the flower dance to stimulate the economy.
submitted by baldpatchouli to StardewValley [link] [comments]

[JP] - Japan mulling 30% tax rate on revenue from casinos, sources say

[JP] - Japan mulling 30% tax rate on revenue from casinos, sources say submitted by AutoNewsAdmin to TJTauto [link] [comments]

[JP] - Japan mulling 30% tax rate on revenue from casinos, sources say | The Japan Times

[JP] - Japan mulling 30% tax rate on revenue from casinos, sources say | The Japan Times submitted by AutoNewspaperAdmin to AutoNewspaper [link] [comments]

My 2021 Portfolio

Albeit a week late, I want to share my 2021 portfolio for documentation purposes and for whoever is interested. I aimed to balance risk in this portfolio with some growth names and legacy plays. Down to brass tacks, I am putting my money in the highest quality companies (in my view) across a diverse set of industries I find attractive. Some of these names are overvalued in the short term. However, I have realized I am not in the business of beating Wall Street’s pricing, but would rather hold high-quality companies that I believe will grow faster that the market in the long term. In other words, I am totally fine paying a short-term premium for growth and quality. Below is a summary of the portfolio and big picture reasoning behind each investment. I'm definitely open to any feedback.
Company Ticker Entry Price Exposure
ARK Genomic Revolution ETF ARKG $93.26 6.60%
CrowdStrike CRWD $211.82 11.78%
Disney DIS $181.18 10.53%
Enphase Energy ENPH $175.47 7.98%
Evolution Gaming Group EVVTY $101.02 12.77%
Facebook FB $273.16 11.05%
Redfin RDFN $68.63 10.41%
Teladoc TDOC $199.96 9.60%
Sea Ltd SE $199.05 14.09%
Waste Connections WCN $102.57 5.19%
ARK Genomic Revolution ETF (BATS: ARKG) - Invests in companies advancing genomics. The companies held in ARKG may develop, produce or enable: CRISPR, Targeted Therapeutics, Bioinformatics, Molecular Diagnostics, Stem Cells, Agricultural Biology.
CrowdStrike (NASDAQ: CRWD) - Cybersecurity technology company that provides endpoint security, threat intelligence, and cyber attack response services.
Disney (NYSE: DIS) - Worldwide entertainment company that you all are probably familiar with.
Enphase Energy (NASDAQ: ENPH) - Designs and manufactures software-driven home energy solutions that span solar generation, home energy storage and web-based monitoring and control.
Evolution Gaming Group (OTC: EVVTY) - Swedish company that develops, produces, markets and licenses integrated B2B live casino solutions for gaming operators.
Facebook (NASDAQ: FB) - Enables people to connect through devices. It’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus.
Redfin Corporation (NASDAQ: RDFN) - Provides residential real estate brokerage services.
Teladoc Health (NYSE: TDOC) - Provides virtual healthcare services on a B2B basis to its clients and provides services to consumers directly and through channel partners.
Sea Ltd (NYSE: SE) - Digital entertainment, electronic commerce, and digital financial services. The Company operates three business segments: Garena, Shopee, and SeaMonkey. The Company’s digital entertainment business, Garena, is a global game developer and publisher with a presence in Southeast Asia, Taiwan, and Latin America. Garena provides access to mobile and personal computer online games. Shopee provides users with a shopping environment that is supported by integrated payment, logistics, fulfillment, and other value-added services. SeaMonkey business is a digital financial services provider. SeaMonkey offers e-wallet services, payment processing, credit related digital financial offerings, and other financial products.
Waste Connections Inc. (NYSE: WCN) - Waste services company that provides non-hazardous waste collection, transfer, disposal and recycling services.

P.S. I have two other accounts - one with about 40 growth stocks and another with about 10 big names / ETFs. However, this portfolio has the largest allocation for 2021. My first time trying a more concentrated approach.
submitted by bull_doze to investing [link] [comments]

Wealth preservation question

Throwaway account, first post:
Longtime lurker here. I’m married, approx. 50 yo man with a wife and three kids in VHCOL area. Paid off house ($3.5M value) and second paid off house overseas ($500K value). Current liquid NW is $10.5M in traditional assets -- 70% equities, 20% bonds, 10% cash. I’m planning the next liquidation of my crypto holdings, which are currently valued at $7.7M. My plan is to net, after tax $4.5M in USD at next sale (which I expect will occur in 2021 as prices rise) and put $2M into a Donor Advised Fund. That will leave me with a “traditional” portfolio (USD) of $15M with an additional $5.2M in crypto under lock and key for the longer term. Plus the $4M in property. And the $2M DAF to give away over the next ten years. We no longer have jobs, so no new income coming in.
My wife and I don’t have expensive tastes, per se, except high-end travel. With the extra money we can do this easily (we probably can now) at a 3% withdrawal rate. We aren’t interested in upgrading to mini-yachts, more property, etc. at this time. I’m not interested in angel investing. I have an artistic pursuit that is enough for me. Giving money away in specific areas as part of the DAF will add an awesome element to our lives.
Now, my question. My USD portfolio is managed by an amazing advisor who I trust and respect. They take a 1% fee which is worth it to me. They’ve done very well with my money since I’ve gone to them and also over the history of their business. Their focus is equities. They are effectively stock pickers, which will sound bad to many on this forum, but they have a strong thesis that I’m comfortable with.
But, I’m clearly in the wealth preservation mode of this journey. If you were in my situation, what would you do with the $4.5M after tax I expect to cash out this year? The easiest thing would be to give it to the financial advisor that I don’t have enough good things to say about. But it also makes me a little nervous because they are heavy in equities. Should I consider something different? The goal is to keep the wealth we have. Though, to make that happen I’d like to have a shot at steady gains as well (though not interested in cash or more bonds I don’t think). What options would you consider?
Note: This post is not to debate the value of crypto. I’m confident in its value long term and I’m respectfully not interested in you telling me its tulips or whatever. I’ve done thousands of hours of research and am convinced in it's benefits over the long-term beyond the casino discussion when things pop like they are now. I’m not trying to be rude, mind you, and I appreciate any advice on my question.
Thank you for this forum. Not many places where rich people (still sounds weird saying it) can speak without censure about the unique challenges of having more than enough.
submitted by Figuringitoutihope21 to fatFIRE [link] [comments]

Governor Sisolak Press Conference 12/13/2020

Here's the update, typed as he was talking, apologies if I missed anything.
NO FURTHER SHUTDOWNS ANNOUNCED! Pause is EXTENDED through 1/15/2021.

submitted by Saigonic to LasVegas [link] [comments]

Governor Sisolak Press Conference 12/13/2020

Here's the update, typed as he was talking, apologies if I missed anything.
NO FURTHER SHUTDOWNS ANNOUNCED! Pause is EXTENDED through 1/15/2021.

submitted by Saigonic to vegas [link] [comments]

Dec/29/2020 news: \\ political party law reformed: idea > individual; transparency; female % \\ Pashinyan responds to "not being enough pro-Russian" \\ who owns which business? \\ protests & snap elect. \\ burglary case & HHK MP \\ humanitarian aid for Artsakh \\ Vitalik flexes muscles \\ bills pass

Your 14-minute Tuesday report in 3589 words.

Pashinyan about pre-war negotiations and "avoiding" the war:

The idea that a flexible foreign policy could have avoided this war is being constantly circulated. Those [former officials] who believe in this thesis must answer at least one question: as a result of their "flexible" policy, why was it not possible to avoid the war of 2016, which was preceded by the unprecedented escalation of 2015 and 2014?
The "flexible" policy adopted by Armenia for many years led to the introduction of Russian proposals in January 2016, which proposed the return of 7 territories (5 + 2) without any legal status for Nagorno-Karabakh.
Why did Russia make such an offer? For one simple reason, as a result of Armenia's "flexible" policy, the Madrid process had come to a standstill because Artsakh could receive a Status outside Azerbaijan only with the consent of Azerbaijan.
It was obvious to Russia and everyone else that Azerbaijan would not agree to this, so it was necessary to find ways to break the deadlock.
And, by the way, if certain people claim that Armenia's foreign policy after 2018 was not sufficiently pro-Russian and this was the reason for the war, then why in the conditions of the "sufficiently pro-Russian" policy of 2016 were Russian proposals born and why did the April war take place?
There was only one way to prevent this war: return the regions and forget about Artsakh's legal status. Now, after the war is over and we know the outcome, the number of supporters of [giveaway of 7 regions] is growing. What they forget is that if we gave away the lands to avoid the war, we would have the same situation in Syunik borders. They used to accuse us of "selling lands" [he means the contradictory statements like Nikol sold the lands, and why didn't Nikol sell the lands earlier to avoid the war].
The biggest failure by the supporters of the "flexible policies" is that they spent years trying to avoid a war instead of preparing for it. Our biggest failure is that we weren't able to recover enough embezzled public property in the past 2.5 years to help us better prepare for the war.
https://armenpress.am/arm/news/1039231.html

businesses owned by opposition leaders

What are the known businesses owned by some of the famous people you might have seen in the public square lately?

Vazgen Manukyan

20% share in Lorva Amrots Ltd which plans to operate two hydro-power plants on Dzoraget river. Manukyan purchased the shares in 2011 after being appointed by Serj as the head of the Public Council.
In 2015-2016, he owned 30% shares in Vanavka Group. In 2015-2017 he had 30% shares in Jermakunq Group. These companies extracted and bottled water. At the time, the director of these companies was charged with illegal bottling and causing ֏55 million in damages to the state. The corruption case was sent to the IRS, which terminated the investigation after "not finding a crime". The companies export the products mostly to Russia.
 

Arthur Vanetsyan

Vanetsyan is a poor boy, according to the public declarations database. But if you have time, take a look at the investigative report I covered in Ap29/2020 news, according to which Vanetsyan's family allegedly used offshore firms and owns mining shares. More on that here. Here is a Hetq investigative report.
Vanetsyan's father owns AV Group flower importing business. About a year ago, the police investigated several flower sellers near a stadium. An opposition outlet claimed that the sellers were "beaten and forced" to testify that Vanetsyan's father was running an underground business. This was never properly proven and the opposition's claim that Vanetsyan was about to be charged did not happen. The police confirmed that there was an investigation against several flower sellers. These flower sellers ended up hiring Vanetsyan's co-party-creator Arsen Babayan as a lawyer.
Vanetsyan's father owns 50% shares of A B Export oil import company that began operating in 2017. It was a minor player that quit the market in 2019. Vanetsyan's father also owns 60% of A B Trans transportation company.
In Nov/2019, CivilNet wrote about Arthur Vanetsyan's cousins' possible involvement with Zangezur Copper factory (massive business). The same offshore firm in Cyprus, which purchased Zangezur shares, was tied to Vanetsyan's cousins' another business in the same offshore.
Vanetsyan's cousins also own a Switzerland-based Exoil wholesale cooking oil and shipping company. In 2019 it had a revenue of $148 million (11 billion Rubles). The cousins don't do this business in Armenia.
Per 2019 registration, Arthur Vanetsyan himself owns one apartment, $10,000, and ֏1 million.
Media reported in May/2020 that Vanetsyan's cousin purchased a ֏300 million mansion in Yerevan, which was donated to then-new political party "Hayreniq", co-founded by Arthur Vanetsyan and Arsen Babayan (the guy who is accused of helping HHK to fabricate documents in 2018 to hijack the Constitutional Court by appointing HHK MP Hrayr Tovmasyan as a judge).
Arthur Vanetsyan's mother served as the chief of the personnel-management department in Serj and Pashinyan administrations, before quitting and working as Serj's aide.
Vanetsyan's wife owns Villa Montessori preschool in Yerevan. She also runs the Young Education Center Ltd.
 

ARF Ishkhan Saghatelyan

Pashinyan appointed Saghatelyan as Gegharquniq governor for a brief period after the 2018 revolution, when Pashinyan created a unity-government, represented by all political parties. The honeymoon soon ended and each party went their way.
Saghatelyan owns shares in i-mega Service Ltd. It's a tourism agency founded in 2006. It operates in Armenia, Artsakh, and Georgia.
Saghatelyan founded Navasar company and serves as director. It's owned by his father.
Saghatelyan family owns the Tsovasar hotel complex on Lake Sevan shores. It's 10,000 m2 (a hectare?).
As of 2018, Saghatelyan declared ownership of 8 pieces of land, 2 apartments, ֏18.5 million, $45,000, and €15,000.
Saghatelyan's father is the mayor of Gegharquniq's Geghamavan settlement. This municipality had recently sent a letter demanding Pashinyan's resignation.
Saghatelyan used to be a shareholder of Shiman Ltd which is no longer active.
 

BHK leader Gagik "dodi gago" Tsarukyan

BUCKLE UP, KIDS! Overall, Tsarukyan runs 54 companies. Студент, комсомолец, спортсмен, u наконец, он просто красавиц.
His business empire was covered in details here. Textile, gas stations, malls, Multi Group empire, Shangri-La Casino, Ararat Cognac & Wine Factory, BMW official office Euromotors (also Hyundai, Gazel, Niva), Multi Motors, Magas Invest, Multi Wellness, Olimpavan sports complex, Kotayk beer factory, TechnAlyumin door & window factory, Multi Rest House hotel chain, Paravon luxury restaurant, Onira Club, Zvartnot's airport's upper-level service company Avia Service, Farm Adama, Multi Pharm pharmacy, Multi Leon gas stations, Multi Solar solar panels.
He owns shares in Frank Mueller Yerevan watch company, Fortsa, Multi Gold, Multi Diamond jewelry firms, several fish-breeding businesses.
He also runs businesses in Russia, Belarus, Ukraine, Czechia, Bulgaria, Cyprus, Latvia.
Per official declaration, he owns $168 million, €29 million, ֏675 million, 14 pieces of land, 6 houses, 2 public buildings, 1 apartment.
 
Details for BHK MP Mikael Melkumyan and HHK Vahram Baghdasaryan in the link below.
 
https://fip.am/14388
https://hetq.am/hy/article/88755
https://www.reddit.com/armenia/comments/gagkyp/apr292020_wednesday_news_armenia_being_sued_fo?
www.civilnet.am/news/2019/11/01/Զանգեզուրի-պղնձամոլիբդենային-Մաքսիմ-Հակոբյանի-ու-նրա-որդու-փոխարեն-նոր-բաժնետերեր-Ժնևից-և-Աջափնյակից/369792
www.1lurer.am/hy/2020/01/29/Բենզինի-շուկա-Արթուր-Վանեցյանի-հայրը-դուրս-է-եկել-ոլորտից-Միքայել-Մինասյանի-մերձավորը՝-խոշորների-մա/182670

opposition continues the demonstrations

The street demonstrations, organized by the former regime and its allies, continue. They demand Pashinyan's resignation and the appointment of their candidate Vazgen Manukyan as the Prime Minister for the duration of a year, after which they agree to hold new elections.
ARF leader Artsvik Minasyan said they don't plan to discuss snap elections with Pashinyan. "Right now, our only demand is Pashinyan's resignation. We demand SIS to immediately hold every criminal accountable". The demonstrators gathered in front of the SIS building to present the demands.
https://armenpress.am/arm/news/1039316.html

Pashinyan meets leaders of several opposition parties

QP leader Lilith: there is a possibility there will be a meeting between Pashinyan and the three Parliamentary political parties. They could discuss snap elections. The impression is that politicians who demand Pashinyan's resignation do not want snap elections in an attempt to bypass the citizen's right to form a government. Our political team reaffirms the position that none of us is clinging on seats. //
LHK MP Gorgisyan: we cannot hold snap elections now, under this chaotic situation. We will discuss snap elections if Pashinyan discusses his resignation and transfer of power. (LHK wants its leader Marukyan to be elected as Prime Minister by a Parliamentary vote) //
Pashinyan met BHK leader Tsarukyan. The latter is against holding snap elections unless Pashinyan resigns now, and presumably, he wants Vazgen Manukyan appointed as PM.
LHK leader Marukyan also wants Pashinyan to resign now so a new Prime Minister can form a new government cabinet "consisted of experts".
https://armenpress.am/arm/news/1039261.html , https://armenpress.am/arm/news/1039268.html , https://armenpress.am/arm/news/1039299.html , https://armenpress.am/arm/news/1039322.html , https://armenpress.am/arm/news/1039323.html , https://armenpress.am/arm/news/1039327.html

felony case: ex-HHK MP charged with armed attack on ex-IRS official

In August of this year, Russia extradited a former HHK MP Alraghatsi Lyovik to Armenia. He was wanted for allegedly burglarizing and shooting at a senior IRS official a decade ago. At the time, his case was "frozen". It was relaunched in 2018. (magic wand)
NSS says: suspect Lyovik, with the help of citizens AK and AN, organized an armed burglary against IRS Chief (?) Avetisyan in 2008.
AK was in the United States. In 2004, he stole $150,000 from jewelry shops in Los Angeles. He got caught but managed to flee to Armenia.
Once in Armenia, AK colluded with policeman AN to organize a similar criminal ring in Armenia.
[MP] Lyovik personally knew AK, and learned about their burglaries. Since Lyovik had bad relations with the IRS chief (victim), he decided to punish the victim by urging AK to burglarize his house. Lyovik revealed the plot to his brother-in-law, who happened to be the victim's personal aide. The latter gave all the personal habits and details about the victim to the burglars.
[read the article for the full story, or wait for a Hollywood movie in theaters near you]
The burglars and organizers are charged with felonies.
https://www.armtimes.com/hy/article/203835 , https://youtu.be/brdozVbwQ6A , https://factor.am/274836.html , https://armtimes.com/hy/article/183522 , https://www.armtimes.com/hy/article/203835 ,

Russian Orthodox chapel will be built

... in the Armenian settlement near Nakhijevan where Azerbaijan had earlier shut down a Russian helicopter, which killed and wounded Russian pilots. It'll be on a hill in Yeraskh. Construction starts on January 6th.
https://armenpress.am/arm/news/1039259.html

Russian peacekeepers conducted training

... to stay in shape. A report by WarGonzo's Semyon Pegovn who returned to Artsakh to meet the New Year there.
https://youtu.be/-c1BSTkC-a8

Russia and Turkey comment

Russian MFA: The situation in Nagorno-Karabakh should not be used for the infiltration of foreign mercenaries into the region. Here we have exactly the same position as our Turkish partners.
Turkish MFA: we see that a ceasefire has been established. We hope to establish the joint RU-TR monitoring center soon.
https://armenpress.am/arm/news/1039281.html , https://armenpress.am/arm/news/1039282.html

Vitalik Balasanyan will return the lands, kicks junkies, and restrict Facebook

Artsakh President Arayik earlier announced that he will allow his opponents to take jobs in the new coalition government. Kocharyan-ally Vitali Balasanyan became the Security Council chief.
Vitalik: we will return Hadrut and Askeran region with the help of Russian and Armenian military-political efforts. We are in a better situation now to solve territorial issues.
We will soon create border guard forces. It will report to MoD, which will report to the Security Council (his office).
Drugs have no place in Artsakh. Drug users must quit or leave Artsakh now.
We need to return to traditional values of giving women as wives after asking if the man had served in the army.
No public official will be allowed to use Facebook during work.
More: https://youtu.be/DceHyi4AB5g
https://www.panarmenian.net/arm/news/289056/

search operations are paused / the "welcome to Azerbaijan" sign

Azerbaijan received criticism for refusing to allow search teams to enter the Hadrut region yesterday. They also prevented UNESCO from checking the status of several Armenian cultural sights, after complaining that UNESCO was "biased" against Azerbaijan during the war.
HR Ombudsman: Any untrue information can not be a reason to disrupt the humanitarian process [referring to unconfirmed rumors on social media that Armenians opened fire at Azeris in Hadrut. An unofficial Iranian social media channel claims 3 Azeris were killed but due to an internal fight.]
The Human Rights Ombudsman also criticized the Azeri troops for installing a provocative "welcome to Azerbaijan" sign on part of a road that went under Azeri control near Syunik borders. The Ombudsman says it's meant to intimidate the locals.
https://armenpress.am/arm/news/1039233.html , https://armenpress.am/arm/news/1039237.html , https://armenpress.am/arm/news/1039244.html , https://factor.am/325511.html

Parliament votes: BHK MP Naira Zohrabyan's chairmanship

Context: BHK MP Naira Zohrabyan referred to the majority of Armenian voters as human trash *(or as she says: impure), and called for the establishment of forced re-education camps so people won't vote for a "wrong party" again. The ruling QP party launched a process to terminate her chairmanship in Parliamentary Human Rights Committee. Read yesterday's thread for more details.*
QP MP Arthur: the law states that the Parliament can appoint and terminate the chairman. The termination of this seat does not require the same procedures as in the case of MPs and Judges. Armenian Constitution states that in Armenia, human beings are of the highest value, and inalienable human dignity is the inseparable basis of their rights and freedoms. MP Zohrabyan's public conduct is against it. //
The law gives the second-largest political party the mandate to appoint the chairman of this particular Committee. BHK, being the second-largest party, said they wouldn't appoint a replacement if Zohrabyan is voted out.
QP MP Arthur: per rules, if BHK refuses to appoint a new candidate, the largest (QP) party will receive the mandate. //
Parliament voted 78-4 to terminate Zohrabyan's chairmanship. BHK and LHK did not vote.
BHK MP Zohrabyan: this termination was a Constitutional crime.
https://armenpress.am/arm/news/1039245.html , https://armenpress.am/arm/news/1039264.html , https://armenpress.am/arm/news/1039304.html , https://factor.am/325132.html

Parliament votes: registering parties becomes easier / ideology instead of person / financial transparency

The goal of this reform is to have political parties that are more about ideology and less about an individual. The reform will boost internal democracy within parties; it will expand the powers of the Party Assembly.
Parties will be required to add more anonymous voting mechanisms.
The law also requires more financial transparency.
The required membership to register a party is lowered from 800 to 300.
Some of the public funding given to political parties will depend on the % of female members in the administrative boards.
Parliament voted 99-1 to approve it.
https://armenpress.am/arm/news/1039270.html , https://youtu.be/bPuZViCCCxo

Parliament votes: monthly fees towards soldiers' recovery are raised

Most workers pay a monthly 1000 Dram towards the Soldiers' Fund, which takes care of wounded soldiers and families of those who died. The govt found it necessary to raise the fee to cover thousands of new recipients. Here are the new fees and salary brackets:
֏1,500 for < ֏100k/month
֏3,000 for < ֏200k
֏5,500 for < ֏500k
֏8,500 for < ֏1 million
֏15,000 for > ֏1 million
Parliament voted 89-0 to approve it.
https://armenpress.am/arm/news/1039296.html

Parliament votes: ban on public smoking is delayed until 2022

The govt had adopted a law to ban smoking in public cafes and the public display of cigarettes in grocery shops. The ruling party wanted to delay parts of the bill that were set to go into effect in January, citing possible financial issues for businesses caused by the pandemic.
QP MP: the cigarette industry pays $383 million to state coffers.
Healthcare Ministry: it will be a mistake if you delay this bill for the sake of $10 million in tax revenues.
Parliament voted 86-0 to delay the anti-smoking bill until 2022.
https://armenpress.am/arm/news/1039295.html

Parliament votes: no tax on goods donated to Armenia

QP MP: When you donate a charitable product to the Republic of Armenia, you are exempt from customs duties and other tax payments, except for one payment, which we are trying to exempt with this bill as well. //
Parliament voted 80-0 to approve it.
https://armenpress.am/arm/news/1039297.html

how is the Judicial Branch doing?

The Supreme Court protects or punishes judges. It also handles complaints. It's separate from the Constitutional Court.
bad boys
19 complaints against judges were heard, 14 of which were petitioned by Justice Ministry and 4 by Judicial Ethics Board. 10 judges ended up receiving disciplinary penalties, 3 received a warning, 3 were reprimanded, 2 were terminated, 4 were cleared.
the system is overloaded
61 judges are handling 6470 felony cases.
86 judges handle 175,940 civil cases.
24 judges handle 17,390 administrative cases.
The number of Arbitration cases rose from 3100 to 9900.
finances
This year, Supremes appointed 20 new judges. Supreme's budget remained the same this year. They returned ֏607 million in savings back to state coffers.
https://armenpress.am/arm/news/1039249.html , https://armenpress.am/arm/news/1039284.html

anti-corruption: SIS busts an IRS agent

SIS says: IRS border inspector took a bribe from a citizen to help him avoid paying Millions of ֏ in import taxes by splitting a large load into smaller pieces, so each piece would fall below the taxable threshold.
https://armenpress.am/arm/news/1039293.html

IRS wants you to file less paperwork

IRS says the latest reforms will help the exporters and simplify the process in which Armenia is used as a transit country for trade. Some tasks can be done online.
More: https://armenpress.am/arm/news/1039247.html

update: electricity prices

...won't go up for low-income families or those using less than 400 kWh. That's 90% of consumers. The rest will pay 3 Drams more. The rates are presented (6-10¢):
https://armenpress.am/arm/news/1039285.html

police to guard Lake Sevan against poachers

Police and Nature Ministry have set up additional checkpoints as part of measures against whitefish poaching in Sevan. 24/7 monitoring on all alleys leading to the lake. They will also travel across markets to catch contraband whitefish.
Why? It's the egg-laying season. Fishing is banned for now. The legally-allowed fishing tools were temporarily removed from the lake.
https://youtu.be/8ZyRGpEazMQ
https://armenpress.am/arm/news/1039339.html

rare Caucasus Leopard is spotted by cameras again

https://youtu.be/2nidC5QJaIg

"only 10% of villagers should do agriculture"

...the rest should have access to other jobs. There is an opportunity now because many businesses operate remotely. Call Center workers don't have to visit an office. Businesses would rather pay less to hire a rural remote worker than more to hire someone in a Yerevan office.
The High Tech Ministry has an ongoing program to teach IT to 5,000 citizens. We must help workers to expand their skillset. We're working on a program to allow a worker to quit the job, not worry about the food on the table, and have enough time for education and learning new skills.
The villagers should ideally lease their smaller lands to large agricultural producers," said Economy Minister Qerobyan.
Full interview: https://armenpress.am/arm/news/1039319.html

State regulators bust another price-fixing ring: fruit mafia

Yesterday, the Economic Competition Committee busted the egg industry's alleged price-fixing and anti-competitive practices. Today they say a similar collision was observed in the orange, mandarin, kiwi, lemon industry.
The companies Best Fruits, Art-Fruits, and Promout were slapped with a ֏39 million in penalties for colluding to raise the prices for the products that had an increased demand during the pandemic period.
http://www.competition.am/.../resources/Vo370_17_12_2020.pdf
https://armenpress.am/arm/news/1039269.html

Lenovo slapped for "anti-competitive practice"

The Economic Competition Committee heard a petition filed by Oazis Computer company against Lenovo. The latter was issued a warning for anti-competitive behavior.
Public Regulator: "Lenovo" company had the ability to influence the process of importing Lenovo computers to Armenia from non-EAEU trade bloc countries. "Lenovo" took steps to reduce the import of Lenovo computers from non-EAEU states, by discriminating against Oazis Computer importer. Lenovo is given a month to correct the issue and fix the requirement and standards related paperwork.
(Facebook next?)
https://armenpress.am/arm/news/1039333.html

Artsakh will also increase childbirth benefits

First child: ֏300k instead of ֏100k
Second child: ֏300k instead of ֏200k
(or ֏500k if one parent is disabled)
As for monthly child care subsidy payments, it goes from ֏15k to ֏27k until the child turns 2.
https://factor.am/325487.html

year wrap-up: births in capital Yerevan

girls 2019: 10173
girls 2020: 10489
boys 2019: 11251
boys 2020: 11430
https://armenpress.am/arm/news/1039278.html

year wrap-up: tax revenues

2018: ֏1.257 trillion
2019: ֏1.458 trillion
2020: ֏1.379 trillion
https://www.armtimes.com/hy/article/203846

COVID stats

+2483 tested. +348 infected. +22 deaths. +1267 healed. 13881 active.
https://armenpress.am/arm/news/1039240.html

chess news

Levon Aronyan has advanced to the Airthings Masters quarter-finals where he will play against Hikaru Nakamura. He is 1pt behind the leaders. The winner receives a $60,000 prize.
https://www.chess.com/news/view/airthings-masters-chess-day-4
https://armenpress.am/arm/news/1039228.html

French city of Valence to name a street

... after Artsakh capital Stenapakert. It already had Ijevan Park, Armenia Street, and Yerevan Street. Stepanakert Street will be located in a newly built district. There will be Toros Street as well.
https://youtu.be/EuQV5bt4Ytc
https://www.armtimes.com/hy/article/203833

Italian city of di Lovere has officially recognized the Artsakh Republic

https://www.facebook.com/HayastaniDespanutyun/posts/3499573803472410
https://factor.am/325379.html

Kapan Medical Center has a new CT scanner

... thanks to generous diasporan donors like you. The first one was installed during the war in Goris city.
https://factor.am/325090.html

Artsakh children receive New Years' gifts

Focus on Children Now charity organization distributed gifts to hundreds of Artsakh kids residing in Gegharquniq province. Backpacks, clothing, items of basic necessity, money, and postcards written by kids living in the United States.
https://www.focusonchildrennow.org/
https://armenpress.am/arm/news/1039302.html

Himnadram donates to refugee families

700 Artsakh families continue to live in 40 settlements of Gegharquniq province. The All Armenia Fund (HimnaDram.org) has provided food and household items to 241 families ahead of New Year.
https://armenpress.am/arm/news/1039313.html

daily life in Syunik bordering villages Shurnukh and Vorotan

https://youtu.be/E1UJd4NtLLs
https://www.civilnet.am/news/2020/12/29/Շուռնուխ-Որոտան․-կյանքը-անկոչ-հարևանների-հետ/414772

donations for Artsakh & recovering soldiers

www.1000plus.am (recovering soldiers & their families)
www.HimnaDram.org (for Artsakh & Armenia)
www.ArmeniaFund.org (U.S. tax-deductible)

archive of older posts

Armeniapedia's archive of my daily news threads:
http://www.armeniapedia.org/wiki/Daily_Anti-Corruption_Reports

disclaimer

All the accused are considered innocent unless proven guilty in the court of law, even if they "sound" guilty.
submitted by ar_david_hh to armenia [link] [comments]

I am 36 years old, make $66,900, live in Portland OR and work as a Data Coordinator.

Section Zero: Background
Hello all, happy hoildays! I stumbled upon this subreddit not long ago and have enjoyed the commentary and experiences everyone's shared. Wanted to add another perspective from a mid-30s first-gen American. I've had some missteps regarding careers and finances, but I feel like I'm in a slightly better place now. I tried YNAB in the past but I wasn't consistent enough with it. These days I use Mint to monitor my finances and have a "Finance Friday" each month to review all my accounts and spending. I currently live with my partner TJ and his dog RR. We do not combine finances, but he has been unemployed since March. I have helped him with some bills and basic necessities here and there until he finds his next job or career.
My current financial goals are to just maintain a status quo and not get any debt until pandemic times are over. Then I will focus on a house remodeling fund and savings for taking care of my parents.
Growing up, what kind of conversations did you have about money? Did your parent/guardian(s) educate you about finances? My parents taught us about money from a frugal perspective. They are immigrants who worked in food service/factories. There was always this “save save save” mentality. Even when they started their own small business, we saved like there was no tomorrow. In high school, my calculus teacher bought us all “The Millionaire Next Door” book and had us read it as an assignment - that was my first structured introduction to finances.
Did you worry about money growing up? No, there was always food on the table and a roof over our heads. I knew that our extended family would support us if needed.
Was there an expectation for you to attend higher education? Did you participate in any form of higher education? If yes, how did you pay for it? Yes. My dad didn’t finish the high school-equivalent in their country, while my mom did finish high school, but no college. My older and younger siblings took a different path in life after high school. I am the first and only in my family to graduate from college. My parents covered all tuition for my two bachelor degrees with the agreement that I support them fully during their retirement and send them gifts/extra money whenever I can. I feel very lucky and privileged that they were able to provide that education for me.
At what age did you become financially responsible for yourself and do you have a financial safety net? 24 when I went on a work holiday abroad. My family was always available to help when needed, but the experience abroad helped me stand on my own feet. As an adult, I also inherited that “save” mentality and put a lot of my earnings towards savings. I didn’t date until my 30s, lived frugally, didn’t go out to eat/hangout with people, shopped thrift stores, and had very few hobbies. I am starting to “live a little” now though.
Do you or have you ever received passive or inherited income? Aside from the tuition, my parents have helped with a down payment for my first house and living costs during periods of unemployment.

Section One: Assets and Debt
Retirement Balance
If the place I was working at offered a 401k, I would always contribute up to the company match. I started my IRA in my mid-20s and would try to contribute the yearly max. I've stopped that the past 2-3 years though. My Other Brokerage is some play money, but I got tired of staring it and switched to index funds. I haven't contributed anything to it in a few years.
Equity if you're a homeowner
Purchased my first home for $382,000 with 20% down, right before lockdown earlier this year. Perfect timing, right?? I plan to live here until my retirement. My parents contributed $15k while I used most of my savings for the rest.
Savings account balance: $3,073
Checking account balance: $7,800
Credit card debt: I charge everything on my credit card for the points, then pay it off each month using my checking account balance.
Student loan debt: Traditionally no student loan debt as mentioned in Section Zero.

Section Two: Income
Income Progression (listed as gross income with cost of living area):
High School
College and first “career” job
Mental health break
College (again) and second “career” job
Third “career” jobs

Main Job Monthly Take Home:
Monthly Net (paid bi-weekly): $2,758
Deductions:
Side Gig Monthly Take Home:
No side gigs at the moment, but I am thinking of signing up on Upwork.com and doing Excel/data entry projects to help pay the mortgage.
Other Income: TJ’s friend will be staying with us for a month in January, who will pay rent of $800 including utilities. Depending on how that goes, we may take on a roommate in the spare bedroom long-term.

Section Three: Expenses
Mortgage - when I bought the house, the plan was that I would charge TJ a portion of the mortgage costs as “rent”, but since his unemployment I am now covering it all myself.
Regular Monthly Payment: $1677.57
HOA: $30/year
Retirement contribution: Nothing additional than what's been mentioned.
Savings contribution: I used to do $50-100/month, but since COVID I’ve stopped contributing to my savings account.
Investment contribution: None at this time.
Debt payments: $100/month towards TJ's credit card balance of $2,307.
Donations: $10-20/month, usually towards Omaze or Planned Parenthood.
Utilities:
Cellphone: On my parents plan.
Subscriptions:
Gym membership: Pre-COVID I did Orangetheory for a year. I started to pick up free exercise equipment from Craigslist this year, so we have a small garage gym now and utilize YouTube exercise videos instead.
Pet expenses: $10/month. TJ has stockpiled some Costco canned dog food before unemployment, but once that runs out I will likely cover the costs. We also started to make homemade dog food to help supplement.
Car insurance: $460 every 6 months. Car is paid off.
Regular therapy: I will start in the new year. Not sure what the costs are yet, but I will use my HSA to pay.
Vitamins/Medications: $20/month
Groceries & household items: $75/month
Miscellaneous (eating out, house purchases, gifts, etc): $100/month

Section Four: Money Diary
Monday
6:30am Neighbor starts up their truck. We joke that it's our natural alarm clock. They idle for about 15 minutes before heading off. I go back to bed.
9am My real alarm goes off. I put the electric kettle on for some morning tea. While it's boiling, I do my morning routine: drink glass of water, take synthroid, use bathroom, brush teeth, quick shower. I then make tea - Jasmine Pearl English Breakfast with dark forest mix. I started ordering loose leaf tea in large amounts back in March instead of small bags or single serving packets. Seems more economical since I drink it daily. I let the dog out into the backyard so he can do his morning routine.
9:30am I go through my daily tasks for work. They entail checking processes and reports to make sure they ran successfully overnight. I then answer some emails and catch-up on Slack channels.
12pm Lunch is leftover roast chicken and quinoa from Saturday. I heat it up in the instant pot. Love that thing! Almost every meal of ours involves the instant pot. We hardly use the stovetop. We then walk the dog to the business park across from our neighborhood. There's a very short trail that runs along a drainage creek by the business park. It's quite muddy, but has a nice woodsy feeling. Over the summer, we saw sumac trees there as well. Free sumac spice!
1:30pm Department meeting on Zoom. Our director announces his resignation on the call. Everyone is shocked! Layoffs were announced for next year but this was not a part of it. I think it's a good move for him and he doesn't have to have this worry of layoffs over his head.
3pm I meet with an engineer from another team and talk about a data source they are in charge of. He helps me out in understanding it and we identify most of the fields that I need for a project I’m starting.
5:30pm I check in with my partner. He's been watching LinkedIn tutorials on internal recruiting, job coaching and general computeoffice skills. It's a career change that he wants to make - something where he can talk to and help people. He doesn't have a bachelor's, only an associates, and hopes these tutorials will get him a leg up in the job search. I sent him some entry level HR admin roles the other day and remind him to apply. I then heat up leftovers: homemade chana masala and rice. I add some butter and coconut milk to thin it out, so there's enough for both of us.
10:30pm I take some magnesium, vitamin D and Airborne. I say goodnight to the dog who sleeps in the office. Then I say goodnight to TJ. He sleeps in the spare bedroom on weeknights due to his snoring keeping me up. I'm a light sleeper while he is a pretty deep sleeper.
Daily total: $0
Tuesday
9am I check Reddit Secret Santa. My match seems like a really good person. Not sure what to get, but most likely will purchase something off their wishlist. I wish I was more creative with my gift giving.
11am Meeting with business stakeholder. She submitted a few changes to an existing data process about a month ago. I make the change while on the call and have her test. Success! Marking it off the todo list. I love when we can finish things directly on a call.
12:30pm I come out of my office to make lunch. I notice my partner is not home. I check my messages and see that he's stepped out to pick up a few things. I ask for celery, carrots, and kombucha. $17. I make a quick charcuterie board for lunch: Costco salami, cheese, homemade hummus and Triscuits. It's a simple, fast meal that’s always in our rotation.
2pm My partner is back and we take the dog out for a walk and quick round of disc golf at a nearby park. We mask up and play only a few holes. Disc golf is a pretty frugal activity, you only need 2-3 discs to get started. TJ remarks that my throws are getting better, but then again they weren't great to start with. We talk about Christmas/Birthday gifts on the way back home since he was born on New Years Day. He mentioned snowshoeing but asked to not spend that much. I'll do some research!
5pm I think about personal career projects. Should I put up a portfolio of projects somewhere? I decide to try and pull some Yelp data. There’s not a lot of data points that I was interested in. Regardless, I tinker with it for an hour. TJ asks if I'm hungry. I said not so much, but felt thirsty. Maybe some ginger soup tonight?
7:30pm Dinner is served - ginger carrot soup made in the instant pot. We eat some rice crackers with it. Lately I feel like we've been eating more vegetarian dinners. It definitely helps stretch our food budget. We end the evening by finishing Fargo season 3 on Hulu.
Daily total: $17
Wednesday
1:30am I'm woken up by the dog. He's been sneezing a lot and wheezes at random intervals. TJ doesn't have the money for a vet visit but I've offered to pay as long as he calls to make the appointment. I give the dog some coconut oil, rub his belly until he seems better and go back to bed.
7am Garbage day. We usually put it out the night before but I forgot. I get up to go, but TJ handles it. I think, at least. I'm too sleepy to pay attention and go back to bed.
9am I wake up and rinse some dishes that have piled up and put them into the dishwasher. We both grew up in households that had a home dishwasher, but forbade from using it. It was drilled into us that hand washing saves more water, unless you had a restaurant/industrial dishwasher. I think with modern home dishwashers, that's changed, so I wanted to try it out with our dishwasher and monitor the water bill. Don't have any dishwashing pods or powder, so I put some OxiClean in it.
12:30pm I overhear TJ on a call with a recruiting agency. It seems to be going well, lots of laughing. I heat up some taco lasagna that I freezer meal-prepped last month.
2pm Collaborate on a project at work with an engineer. My manager put me on this project since I was asking for an assignment on a more technical team. I'm learning tidbits here and there, but I don't feel like it's structured enough.
5pm I do an Orangetheory-At-Home workout and try to break a sweat. It's not the same as going to their studio.
6pm Charcuterie for dinner. Our fridge is full of store-bought and homemade pickles that go super well on a charcuterie board.
Daily total: $0
Thursday
7am I wake up tired. The house has been feeling more cold, which woke me up a few times. We keep the temp at 72F during the day, at night around 68F since we thought the bedrooms keep the heat in pretty well. My mistake!
9am I do my usual morning routine and login to work. My team mostly spends the morning sending each other emojis.
11:30am Lunch today is mini quiche, frozen chicken and veggie entree, and hot dogs. Not the most cohesive meal, but it fills the belly.
12:30pm TJ heads out to his mailbox that's 30 minutes away. He is still waiting on his tax return and a 401k withdrawal. His taxes had to be filed by mail for some reason, then the IRS office shut down due to COVID. So he wanted to see if it arrived yet at the mailbox. He also takes the dog to the vet's urgent care on his way. They didn't have any regular openings available until the end of the year, and the dog seemed to be getting worse. I give TJ $40 to mail a gift package to a friend in France and also reiterate that I'll cover the vet bill when he gets it.
4:30pm I pay some bills, my favorite activity (not)! Sewer bill: $59.44 (billed every 2 months). Geico bill: $459.60 billed every 6 months. Then I follow up with my mortgage officer over email. I had sent her some documents for a refinance quote last week, but haven't heard back. Rates keep dropping, so I'm told, but what does that really mean? I do some research on realestate.
5pm TJ messages me and says he'll be back for dinner. I ask him to pick up some Popeyes via drive thru since we both don't feel like cooking today. Popeyes is currently our fancy “going out to eat” food. $24.17 for a 4pc dinner meal and a 2pc dinner meal.
Daily total: $583.21
Friday
8:30am Busy morning at work. My phone is buzzing with emails and Slack messages. I try to answer them while I make tea.
10am Zoom Department happy hour. We reminisce about our director and then play those Jackbox party games. Some of them are hard!
11am TJ asks if he can make me anything for lunch. He suggests savory oatmeal, quick and easy. I tell him that I really appreciate him making meals/doing chores/etc without me prompting. We've been having conversations about "house project management" and mental load because I did most of the chores or I had to continually remind/tell him to do it. I'm really happy to see us progress on this front. I decide to work through my lunch break so I can end the day early. I don't often do that, but I'm ready to get the weekend started.
2pm I check on TJ in the spare bedroom and ask if the dog has been fed yet, since he was nipping at my feet. I notice something off about TJ and ask how he is doing. TJ is depressed about his personal life, career, finances. He doesn't know what to do, spends half the day meditating and reflecting on past trauma. I've been prodding him to get a therapist but he is confused about his insurance. He makes an appointment with a primary care doctor first. I feed the dog some homemade dog-friendly beef stew.
4pm My mom swings by the house (but doesn't enter). She currently works at a school who distributes free USDA food boxes since March. There's often many boxes leftover that would go to waste, so she will grab a box for us. Onions, potatoes, beets, turnips, eggs, cheese, butter, frozen veggies and frozen chicken. She also brought her vintage pasta maker. I asked last week if she ever used it these days and her reply was “no, feel free to have it”. I love pasta and noodles and figure it would be great to make it ourselves as a frugal hobby.
8pm We catch up on Mandalorian and watch silly Youtube videos before heading off to bed.
Daily total: $0
Saturday
9am I open up my web browser and look at Craigslist and NextDoor for free stuff. I've been scouring for free landscape rocks, pegboards, and wood for house projects. I had this grand ambition to redesign our backyard. It faces our neighbor and currently the fence is pretty low. They can see into our kitchen and bedroom and we can see them. But y'know, COVID and going from dual income house to single income means it all has to be put on hold. So I've been looking for free items in the meantime. Over the past months, I've gotten planter pots, plant cuttings, a raised bed, stepping stones, all from free listings. I don't see anything worthwhile so I go and make some tea.
11am I look at Amazon and make some purchases for Reddit Secret Santa. A foodie kit, DVD of their favorite movie, and some cute pens for their writing hobby. $54. I hope they like it!
12pm TJ heats up leftover stir-fry for lunch for us. I put on some Binging with Babish and we watch how to make pasta. We have a plan - TJ makes the pasta, I make the sauce. Perfect date night activity at home. We watch some more videos on pasta and noodles to educate ourselves.
4pm I start prepping veggies. Big batch of onions, canned tomatoes, ground beef and butter in the instant pot. Meanwhile, TJ works on the pasta by following Babish's instructions.
7pm We gorge on fresh made pasta and bolognese sauce. It's so good! We end up watching Fargo.
11pm Usually I'll be in bed by now, but it's a Saturday and not tired yet (probably because of all that pasta). We play some Kirby's Dream Course on the Switch.
Daily total: $54
Sunday
10am Quick walk around the neighborhood with the dog. He's on a new routine now with the medicine he's taking. It seems to be helping his breathing issues.
11am The pasta maker and flour is still out since we didn't clean up yesterday. There's some old pie crust in the fridge so I roll it out with the pasta machine for mini quiches. (Sally's Baking Addiction blog is my go-to place for her all-butter crust and quiche recipes btw). TJ helps by mixing up the eggs.
3pm I play some Genshin Impact (GI) on my phone while TJ plays Starcraft in the office. I don't usually play gacha games, but the Zelda BotW-style of GI appealed to me. A gacha game is a game with randomized characteitem boxes that you use real-money to purchase a “pull” or to spin the wheel. I know the gacha parts of the game can be a real money sink if you get addicted to them, it’s almost like gambling. My main team is Fischl, Bennett, Barbara and Noelle. I level up to AR 22 and look up free-to-play tutorials for the game.
6pm There's some leftover pasta from yesterday, enough for both of us. I throw in some roasted beets to round out the meal. We watch more Fargo while eating. Almost done with Season 3!
10pm I find a tour operator who offers a small, socially-distant snowshoeing tour up on the mountain. I reserve for two people - this will be TJ's Christmas/birthday gift. $75. Off to bed for another workday.
Daily total: $75
Weekly Total: $689.79
Section Five: Reflections
Aside from the car insurance bill, this was a typical week for me, COVID or not. We make the majority of our meals at home and usually splurge on drive-thru/delivery once every other week. I may have overspent on the Secret Santa gift, but I don't often give gifts out to friends. It's not something our family does either. For TJ’s Christmas/birthday gift, we usually talk upfront about costs. I’ve gifted him fancy restaurant experiences the past 2 years, since we can share that experience, but obviously can’t do that now. Snowshoeing is a nice change of pace.
The conversations with TJ this week have given me thought on how to approach him differently about finances and working together in a relationship. I’m still unsure about the future financially, particularly as my parents near retirement age and that TJ has pulled out his 401k to pay his debts. I don't know if I can support both my parents and TJ together, so I am finding ways to upskill and/or side hustles without becoming a workaholic or bogged down by stress.
Writing this money diary was also the first time where I really paid attention to my past income and current income. I might be contributing too much into ESPP that could go towards the 401k or mortgage instead? I also seem to have been underpaid for what I did in past jobs, even in a LCOL area.
submitted by throwaway_md_182481 to MoneyDiariesACTIVE [link] [comments]

Simple Lore comparison of both the NCR's and Legion's currency

NCR 5 dollar bill is only worth 2 caps
Legion silver Denarius is worth 4 caps
That's 2 more of the base value of what the NCR 5 dollar bill can afford. Now lets check the highest.
NCR 100 dollar bill is only worth 40 caps.
Legion gold Aureus is worth 100 caps.
That's 60 more of the base value of what the NCR 100 dollar bill can afford.
Unlike Legion currency however, the NCR has a third denomination of a 20 dollar bill which is worth 8 caps. Still, the ceilings of both of their highest currencies available to the markets edges in favor of the Legion over the NCR dollar with the Aureus having a higher purchasing power in regards to commercial activity.
sources;
[By 2281, the NCR dollar is valued at about 40% of a water-backed cap[6] and only 10% of a silver Legion Denarius.](https://fallout.fandom.com/wiki/NCR_dollars)
[Legion currency](https://fallout.fandom.com/wiki/Legion_Denarius)
[NCR currency](https://fallout.fandom.com/wiki/NCR_dollars)
Dialogue points from merchant or merchant adjunct entities to substantiate probable currency values decided by the Wasteland market;
>Dale Barton: "Hell, I don't even need to travel with guards most of the time in Legion territory. All the bandits are dead or run off."

>Dale Barton: "Between having to hire protection and getting slapped with taxes, it's more profitable to stick to Arizona and New Mexico."

>Rose Sharon of Cassidy: "Some caravans deal with the Legion now because the security. If towns could get the same protection? A lot more tempting than you'd think. Bunch of people would be willing to side with the Legion to not have to worry about Fiends and Boomers and Powder Ganger attacks."

>The Courier: "You don't get paid in Caps?"
>Chomp Lewis: "Nope. The NCR's been trying to switch over to using paper money, like in the Pre-War days. Trouble is that the exchange rates ain't exactly fair. For example, a hundred bucks in NCR money is valued at roughly half that in caps around here. Seems like a rotten deal for us, but work is work."

>The Courier: "What can you tell me about New Vegas?"
>Chomp Lewis: "I've been there once, and I don't recommend it. It's just a way to burn through a month's pay in five minutes*. I've seen a lot of folks come through here thinking they'll have the easy life once they get there. It never happens."*
From one of the developers:
>J.E Sawyer: "And this is discussed in-game: BoS raided NCR's gold reserves until NCR could no longer generate gold coinage nor back their paper money. They abandoned the gold standard and established fiat currency, which is why its value is inflated over both caps and (especially) Legion coinage. (...) People in eastern NCR and the Mojave Wasteland lost faith in the NCR government's a) ability to back the listed value of paper money and b) stability overall. If you're living in Bakersfield, staring at a piece of paper that says "redeemable for value in gold" and you have no faith in the government's ability or willingness to do that -- or if you see that the government has changed the currency to say that it is not able to be exchanged for a backed good -- you may very well listen to the strong consortium of local merchants offering to exchange that paper note for currency backed by water."

The Tops Vegas Casino exchange rates for in-house playing Chips;
Note: With a double check, all the Casino cashiers in Vegas have the same exchange dialogue, barring the type of greeting they give depending on the chosen locale. That means the exchange rates for all Vegas Casinos are standardized and consistent.
NCR
2 chips for 5$ NCR
8 chips for 20$ NCR
40 chips for 40$ NCR
Legion
4 chips for 1 Legion Denarius
20 chips for 5 Legion Denarii
40 chips for 10 Legion Denarii
80 chips for 20 Legion Denarii
100 chips for 1 Legion Aureus or 25 Legion Denarii

Source: Geck dialogue files, vDialogueCasinoCashier; Topics
EDIT: To even nip this in the butt further, some comments here say that Precious Commodities don't have intrinsic value. If that is the case in regards to the NCR being discussed here, why by the time of FO2 was the lowest denominator of their currency, 1$ dollar, was in Gold Coins?

$1 NCR - The Fallout Wiki (fandom.com)

The NCR never or had any contingencies to shore-up their currency to a fiat one at all if the most basic unit of their internal monetary exchange was Gold Coins. If that were the case they would've had pure paper money to begin with without these Coins being in circulation in Fallout 2; with all Gold being in their reserve purely being for backing only, but this isn't the case as we observe.
With the absence of their most basic unit of exchange being gone and the 5$ paper note being demoted to the new basic unit of their currency, that's a huge amount of unaccounted inflation off the bat; inflation they could've never prepared for since they valued Gold enough as a natural unit of exchange at such a base level to be circulated. They didn't expect the BoS to hit them that hard or anyone to do so with their perceived control of their core territory; nevermind the facts that its very unstable and unlucrative to deal in with raiders they can't hunt down with lack of dedicated manpower and poll taxes.

Precious vs Fiat currencies have staunch differences that can't be reconciled in the context of the Fallout universe and a general post-apocalypse. Precious Commodities are backed by simple human consensus of its natural properties being of worth and desirable for a monetary unit of exchange.
These can be traded and exchanged easily with a readily agreed upon value along with Caps because they are accepted by almost every post-war Tribal group, Wasteland settlement, independent Traders, and most other polities across America. Its supply is also naturally in nature, not manufactured artificially with Fiat money note printing.
(In the Fallout series, we see some form of international travel is still somewhat possible with characters such as Alistar Tenpenny and in Fallout 4 with multiple characters from other continents. Take Gold from the US and bring it to the British Isles, it will still have ready value no matter what. Take simple Fiat bank notes of a faction in the US to say, the Fallout version of West Africa. It would absolutely have no value because the issuer of that tender back in North America literally has no economic influence to back its money in this region miles away; there is no Demand or recognition for it. Conversely with Gold taken from North America and traveling to Fallout West Africa, it has tradeable value no matter what because Gold is a natural unit of exchange from its recognized natural value by humans.)
Fiat currency is only as strong as a nation-state can legitimize and maintain it. The only Fiat currency at the time of New Vegas taking place is NCR currency, which is doing badly from the aforementioned factors of the top of this post. The NCR IS a nation of some sort, but it isn't in the league of pre-war society statehoodship.
It doesn't have the financial instruments or development of robust monetary institutions to handle Fiat when they've have been on a Gold economy all this time and the value of the NCR dollar has plummeted due to lack of Demand with its sudden absence. The only reason why the NCR dollar had high worthiness was due to the inherent value of Gold they had on reserve in a post-apocalyptic society that has an extremely high assessment of value it.
With the Gold-backed era of the NCR (supported in FO2 with Gold Coins directly in circulation and being exchanged), Caps were practically worthless in the NCR territory as comments here note. Now with Gold out of the equation as we can observe with direct evidence, the highest focal point of NCR currency isn't even worth 40% of Cap currency by the end of the NCR-BoS war.
Double Edit: The whole reason why the resource wars in the Fallout universe happened because the main natural mineral resource, Oil, was almost all depleted entirely- in an international society where almost all the pre-war Nations were Oil based economies. Without Oil we see in numerous cases in Fallout in the post-war landscape with products with exorbitant prices due to rampart inflation with money that had no value.
[This](https://www.reddit.com/Fallout/comments/3x9cqj/how_inflated_was_the_prewar_economy_some_of_the/cy348gl?utm_source=share&utm_medium=web2x&context=3) comment here from 4 years ago from the main Fallout subreddit goes into the context of the universe.
In the very intro of the first Fallout game, we see on the TV in the ruined building that is still running- a common non-luxury car is worth 200,000 dollars.
Regular Gas in pre-war Fallout America was 1450.99$
Premium Gas was 8500.99$
To note, America was only one of the nations still with a minutiae of Oil left, but here are the prices.
Source: [Gas Prices](latest (293×291) (nocookie.net))
The Mechanical Pony toy seen in Fallout 3 costs 16,000$.
submitted by Shakanaka to falloutlore [link] [comments]

$BFT (FoleyTrasimene II), SPAC to become Paysafe

I think that this one has been under-reported somewhat but since I work in the online gaming industry, it showed up on my radar.
This SPAC has reached a deal to bring back Paysafe to the market, at a valuation of 9 billions.
What is Paysafe?
Paysafe Group has been consolidating the market for e-wallets and alternative payment methods for years and went back into private hands 3 years ago.
They regroup all the main e-wallets used for online gambling and Forex: Skrill and Neteller and also prepaid cards (to be bought in 7/11 and the like) under the Paysafe brand.
Why e-wallets matter in the online gambling market?
E-wallets and prepaid cards represent about 25% of the volume of payments in online gambling in UK, Europe, Canada and Skrill/NetellePaysafe are by far the biggest names in this field.
https://www.fisglobal.com/-/media/fisglobal/WorldPay/Docs/Miscellaneous/Gaming%20Payments%20Report%202019
Neteller and Moneybookers (as Skrill was known then) were dominating the US alternative payment methods gambling market in the US before they got pushed out in 2007. They still have high name recognition amongst the gambling crowd and web searches in the US for these brands remain high, even if they can’t process much transactions there for gambling since many states don’t have online gambling legislations yet, or very limiting ones.
E-Wallets are often the preferred payment method for gamblers since it allows to move money from one operator site to the other quickly and cheaply. They can also use it as a bankroll segregated from their main bank account/CC and on top of that, Paysafe offers loyalty benefits to users based on their transaction volumes. As such, their user retention is very good.
The prepaid card business is also a major factor for this stock attractiveness. Prepaid cards to be bought in gas stations or the like are often preferred by gamblers who want to strictly control their gambling or those who don’t have access to a CC (maybe because they gambled too much) or those that prefer cash transactions out of privacy concerns…
Why not invest in the gambling operators instead?
Operators such as Draftkings or legacy casino groups are going to make money but the regulatory environment is harsh and gambling taxes are crazy in some states and might keep going higher.
Moreover, the regulations being so fragmented, many smaller operators push in certain states and not others and the competitive environment is broad. Remember that gambling is a fungible good. There is no difference in the casino games that the operators can offer (same game studios, same rules) and aside from bonuses and the margins on sports bets, the only differentiation is in branding, which is a thin moat on a product that often leaves the users disgruntled (losers).
Payments on the other hand are not taxed for their relationship to gambling and there are far fewer players.
How does Paysafe make money?
The margins on their products are pretty high and Paysafe charges both sides of the transaction in the case of the e-wallets and the merchant side in the case of the prepaid cards.
For the use of Skrill and Neteller wallets, Paysafe charges on average 4.5% on the merchant side for deposits and a whooping 9.9% on deposits with prepaid cards… Larger merchants certainly can negotiate these rates down but this is still a healthy fee, much higher than credit card processors.
In markets where Paysafe has established domination they charge a small deposit fee to the user and a withdrawal fee.
For now, they charge no fees to the US users in a bid to grow market share surely but that will probably end some day.
Growth opportunity:
For now, the US online gambling market is still very limited. Most states have not legalized, the majority of those who have legalized only did so for sports betting and then a handful have legalized online casino gaming (where the real money is made). The opening up of the market is bound to grow as states need money and more of the world moves online.
https://www.playusa.com/us/
It is estimated that the online gaming market could reach 25 billions a year in the US in a few years time and 150 billions worldwide.
https://www.gminsights.com/industry-analysis/online-gambling-market#:~:text=The%20North%20America%20online%20gambling,CAGR%20during%20the%20forecast%20period.
https://www.grandviewresearch.com/press-release/global-online-gambling-market
These revenues do not equal to deposited amounts, they equal net deposits (deposits minus withdrawals). The hold % of online casinos can be anywhere between 50% and 80% depending on how degenerate the market is in a given country but we can conservatively assume 60%.
This means that deposits volume in the US alone would reach about 40 billions, Europe about 50 Billions and worldwide 250 billions.
That should give Paysafe around 8-10 billions in transaction volume per year in the US alone , another 10-12 billions in Europe and conservatively, another 20 billions worldwide.
Valuation estimates:
Rough estimates are therefore revenues of about 1.5 billions per year for Paysafe group in a few years for gambling alone.
Paysafe claims 1.5 billions in revenues total projected for 2021, with only a third from gambling.
Even assuming no growth from the other verticals, this means that the total revenues of Paysafe should grow by 66% with gambling alone in the next 5 years or so.
Pysafe is investing a lot into expansion in other areas than gambling, notably video-gaming and remittance so assuming they don’t fuck it up completely, we are likely to see a 3 billions dollar in revenues in the next 5 years.
Using Paypal’s marketcap vs revenues, that would mean 50 billions in marketcap for Paysafe… Of course, Paypal is ingrained deeply in the whole of ecommerce and Paysafe is more specialized in gambling which might be shakier and herefore command a lower valuation.
The deal details are not fully known but it looks like a current valuation of 9 billions for Paysafe Group upon listing.
Based on my estimates, the marketcap could reach 50 billions in a few years time, one US market for gambling fully opens.
$BFT is trading at a 25% premium right now, therefore the estimate is 4x on investment over a few years.
Obviously you retards are not the most patient bunch but I believe the stock will jump when it morphs and so keep an eye out for the options.
submitted by According-Town-5373 to wallstreetbets [link] [comments]

NamSys Inc. (TSX.V: CTZ)

Summary of Findings
I am recommending that you take a close look at NamSys Inc. NamSys Inc is a simple predictable free cash flow generative business with a durable competitive advantage and a long runway ahead of it. It has a strong market position in the cash management industry and a growing SaaS business model. As of January 5th, 2020, NamSys Inc, which trades under the ticker symbol “CTZ”, closed at a share price of $0.90 or a market cap of $24.5m. It has about $5.5m in net cash on the balance sheet and the stock currently trades at a 9.3x pre-tax cash flow multiple, which translates to a 10.8% pre-tax free cash flow yield. At this price, I think it is worth a close look.
Business Overview
NamSys Inc is a small company based in Toronto, Ontario that specializes in providing SaaS software solutions to the cash management industry for financial institutions, retailers, casino operators, transit services, and to many different government entities. It sells 4 cloud based software solutions: Smart Safe Monitoring, Cash-In-Transit (CIT) logistics, Currency Controller (cash vault management), and Deposit Tracking (Banking). NamSys’s cloud based solutions are labelled under the brand name, “Cirreon ''.
Cirreon Smart Safe - The Cirreon Smart Safe product segment represents over 70% of NamSys’s total revenues and it has been growing at approximately 20% compounded annually over the past 10 years. The software solution is being sold in 24 countries but most of it is in North America. There are 16,000 NamSys smart safes out of a total of 80,000 smart safes in North America, which translates to 20% market share in the smart safe segment.
Cirreon CIT Logistic Software - The CIT logistic software assists cash-in-transit operators, who are responsible for safely transporting a business’s physical cash to the bank, to manage day-to-day operations. The Cirreon CIT software solution is an app that allows CIT providers to manage their fleet, track pickups and deliveries, strategically map routes, provide GPS navigation services, and also allows the CIT driver to communicate with the other drivers or customers. The CIT logistic software represents 4-5% of total revenues. CIT sales have been growing by 300% over the past two or three years, according to management, so it is a stream of revenue that will grow at huge rates over time. NamSys Inc has a long-term partnership with CIT providers across North America. The biggest CIT customer is Brinks, similar to the smart safe product. Brinks control 25% of the CIT service market in the cash management industry, which obviously exposes NamSys to 1/4 of the total market.
Currency Controller - The Currency Controller is a cash vault system used to process cash, count cash, and fill cash orders. The Currency Controller can be found within ATM and bank machines and assists banks and CIT services with accounting, billing, management and fulfillment that they need to perform for customers. The Currency Controller segment represents about 20-30% of sales and it has grown at 50% compounded over the past 3 years. It is available with a license and a subscription-based pricing model although the subscription model is becoming more popular.
Cirreon Banking - The Cirreon Banking app is a new product segment that has been introduced a few years ago and represents about 8% of total revenues. The Cirreon Banking app helps customers create and track deposits, place change orders, and request support, all from the customer’s phone. The Cirreon Banking app is sold as a subscription just like the rest of the Cirreon software solutions.
Durable Competitive Advantage
High Switching Costs - Once a retailer is hooked up onto the Cirreon platform, the idea of switching to another software platform is very unlikely and rather costly. Since Cirreon holds all of the retailer’s financial data related to invoices, cash inflows and outflows, and other important information, transferring this data on to a whole different platform will not only take up a lot of time and money, but sometimes might not be technologically possible. The Cirreon platform uses Java based programming, which makes it almost impossible to transfer data. In addition the learning curve for business owners and retailers when joining a new platform is very steep, which makes it uneconomical for NamSys customers to switch and spend hours, if not days, getting used to a whole new set up. The high switching cost nature of the software solution is evident with the high customer retention rates of the Cirreon platform, which management has reported to be very high. In the CIT logistics segment, NamSys provides navigation services and GPS software which interacts with the Cirreon platform to help retailers track where their cash is heading while also allowing CIT providers to communicate with local financial institutions. NamSys also has the benefit of high switching costs because CIT providers almost always stick with their logistic software providers and rarely switch. This is mainly because NamSys’s logistic software is already embedded in the CIT network system and the cost of reprogramming all the computers inside the CIT trucks and stopping business is so high, that it remains uneconomical for a NamSys customer in the CIT logistics space to switch over to another software provider.
Product Differentiation - Cirreon integrates many different parts of the cash management cycle onto one platform. There are very few services like this in the cash management industry that offer an all-in-one, easy to use service. In fact, the closest product offering could be from Safeology, which is a new tech startup, prominent in Europe. However, even Safeology fails to offer the quantity and quality of services NamSys provides to customers, as they do not have an established smart safe software service or an online banking app. In the most recent annual shareholder meeting, management has asserted their ability to increase prices to improve profitability. However, from a strategic perspective, they prefer to continue to add value to customers by keeping prices stable and remaining much more competitive in the marketplace. If you can add enormous value by providing a better quality service at great prices, then it is almost inevitable that the business will succeed over the long term. Holding this philosophy over the past 5 years contributed to the stellar growth in the business and I expect this to continue.
Brinks Long Term Partnership - NamSys and Brinks have strong business relationships with each other that should last over the long term. They both have a 3 year contract with an option to renew the contract at the end of each term. Since NamSys has already penetrated Brink’s ecosystem, it is expected that their customer relationship continues over the long term. With Brinks focusing on the hardware side and NamSys providing the software, both Brinks and NamSys have worked together to launch extremely successful cash management products and have been rapidly expanding to over 24 countries. NamSys is able to piggyback on Brink’s acquisition driven approach for expansion and its 23% share of the global cash management market, which provides countless opportunities for NamSys to grow and gain more market share in the software industry. For example when Brinks acquired Dunbar or G4S (both are cash management companies), they converted Dunbar and G4S’s old cash management software and integrated NamSys’s software in all the smart safes, CIT logistic networks, and currency controllers. As a result, NamSys inherits a strong market position and bigger network when Brinks acquires its competitors. Most of NamSys’s competitors lack valuable customer relationships with big players like Brinks and it is part of the reason why NamSys has been able to keep high returns on invested capital and operating margins for a decade.
Revenue Breakdown and Capital Efficiency
The SaaS revenue stream consists of hosted service fees and technical/maintenance support. It is clear that from 2015 to 2019, the recurring revenue stream has grown to 83% of total sales revenue. The licenses segment as a % of revenue has been decreasing as it represents an old fashioned method of selling software (customer provides a payment at the time the software is provided). This is more or less caused by customers abandoning licenses and getting onto the SaaS platform, which is a much cheaper option. The professional services segments represent the small customized projects NamSys does for specific customers but we will exclude this out of our analysis as it is negligible and very volatile.
The business requires very little incremental capital to maintain and grow its line of business. ROIC has gone from 135.6% in 2015 to 463.8% in 2019, which illustrates the capital light nature of NamSys’s business. With very little tangible capital employed, NamSys was able to grow revenues at a 20% CAGR over the past five years and increase cash flow generation significantly.
Revenue growth exceeded 20% in 4 out of the 5 past years, besides 2018. Revenue growth in 2018 fell down to 12% primarily due to NamSys’s decision to fully convert its currency controller segment, which makes up about 20% of revenues, into a SaaS model. Before, customers had to pay a big upfront cash payment (software licenses), but this all changed during 2018 when customers had to pay a fraction of the big upfront cash payment, due to the shift in payment terms. Thus, the lack of revenue growth in 2018 can be seen as an anomaly. Furthermore, gross margins have averaged about 71% over the past five years, declining 2-4% in 2018 and 2019 due to an increase in staffing costs. Operating and EBITDA margins are very healthy, averaging about 43% over the past 5 years, which illustrates stellar operating performance. FCF margin has averaged about 38% over the past 5 years, moving up and down due to aberrations in changes of working capital. Finally, the company has averaged about 29% FCF growth over the past 5 years, however the volatility in the changes in working capital create stark differences in the yearly figures. Moreover, based on analyzing NamSys’s historical growth and margins, one can conclude that NamSys is a predictable business that will grow over the long term.
Opportunities to Grow
The smart safe software revenue segment, which consists of 60% of total revenues, has grown at 28%+ per year over the past 5 years. With Brink’s, a $3B private security and protection company, being the largest customer, NamSys can piggyback on Brink’s international growth plans. NamSys has a strong customer relationship with Brink’s, as Brink’s builds the hardware for the smart safe and NamSys installs its proprietary software into the smart safe. At the moment, over 16,000 smart safes with NamSys software are being used in North America. However, in places like South America, the smart safe market is growing at 100% per year while in places like the Middle East or Africa, there is no smart safe market. NamSys has significant international opportunities to grow and expand its software service, which should be a prime driver of growth moving forward. If you do the math, Brinks projects that there will be 1.2 million potential new locations for smart safes to be installed worldwide. If the partnership between Brinks and NamSys gets hold of 10% to 20% of this market, this could mean about 60,000 to 120,000 smart safes installed within the next decade. Right now, NamSys Inc has around 16,000 to 18,000 smart safes installed. Over the next decade, I conservatively project that NamSys Inc can 3x to 7x their sales today, as long as they keep good customer relationships with Brink’s. Obviously, this is not accounting for the fact that Brink's is gaining a ton of market share through acquiring a lot of its competitors, which should yield more market share for NamSys in the software development space.
In addition, NamSys is currently experiencing huge tailwinds in their CIT logistics and currency controller software lines of business as well. I think there is a great runway with Next Gen ATM and the whole trend behind CIT companies acquiring ATM networks. With Next Gen ATM, NamSys can be positioned to sell not only their CIT logistics application but also their cash vault (currency controller) product as well. Furthermore, NamSys is also participating in a pilot project with the US Federal Reserve, with testing new software products and solving issues relating to the transportation of cash. The revenues from this pilot project should materialize within the next 3-4 years, as it is a long term project.
Management
The CEO of NamSys Inc is Barry Sparks, who has been the CEO for over 15 years. Mr. Sparks is the President of Torvan Capital and owns 40% of NamSys common stock through this investment vehicle. The President and COO Jason Siemens has been with the company for about 23 years and owns about 0.8% of the common stock. Mr. Siemens is a very competent manager, who thoroughly understands the cash management business. Through analyzing all the past earnings transcripts and shareholder meetings, it is evident that Mr. Siemens has a clear strategy on building NamSys’s moat and growing the business. One of the best and worst capital allocation decisions management has ever made was entering the hardware market (a lower ROIC business) in 2006 and leaving it in 2011, which led to NamSys’s stellar financial performance from 2012 and onwards. In addition, there has been no shareholder dilution (through stock based compensation) over the past 10 years, which is beneficial for long term shareholders of this business. Along with the Board and Mr. Sparks and Mr. Siemens, I think NamSys is a well managed and shareholder friendly business and I do not foresee any managerial issues arising from the individuals who run this company.
COVID-19 Impact
NamSys Inc has not really been negatively impacted by COVID-19 when compared to most other companies. A lot of their customers are grocery chains and gas stations that were running even when most businesses were closed. Revenues for Q2 2020, period ending April 30th, increased by 14.5% when compared to Q2 2019. Revenue for the first six months of fiscal 2020 increased by 19.2% when compared to revenue in the same period in fiscal 2019. NamSys generated a significant amount of free cash flow and the cash balance grew to $5.5m, up from $4.3m from Q1 2020. COVID-19 had an immaterial impact on NamSys Inc from a financial standpoint, which further emphasizes the durable business model of NamSys Inc, which can grow even during a pandemic and recession. So, while most businesses are struggling amid today’s unstable business environment, NamSys is growing its market share and throwing off more cash.
Valuation
I think NamSys’s intrinsic value will grow and compound over time, given its sticky business model and long growth runway. Please see for the supporting financial model of the base case valuation. For the base case valuation, I think a reasonable case would be projecting out a revenue CAGR growth of 13.7% over the next 5 years until 2024 (compared to 24.6% between 2015 and 2019). Given the company has a history of growing revenues at 20%+ CAGR over the past five years and the future growth potential in its smart safe and Cirreon banking application segment, I expect operating margins and its cost structure to remain stable over time. Keeping the 15x FCF multiple constant, the value of the business will grow to about $2.00+ per share by 2024, which represents an IRR of 23% per year. I think this is a compelling investment opportunity with significant upside. First DD, so thanks for reading :)
I have 2,500 shares at 0.88
submitted by 00nizarsoccer to pennystocks [link] [comments]

Dec/21/2020 wrap-up: \\ borders demarcation per 2010 Armenian law \\ Pashinyan visits Syunik: supporters & opponents \\ Russians will guard border road \\ weekend memorial events \\ more POWs return \\ search operations continue \\ electricity prices \\ Russian peacekeepers \\ housing & aid \\ sport

Your 15-minute Weekend & Monday report in 3688 words.

Saturday: three days of mourning

From Saturday to Monday, the country pays tribute to those who died in the war. Pashinyan and other officials participated in the memorial march to Yerablur Pantheon. Some opposition outlets had earlier claimed that Pashinyan would skip the march and use his father's death as an "excuse".
During the march, a group of anti-Pashinyan activists blocked the crowd from moving forward. The police were involved to clear the way. The PM spoke with families of fallen soldiers and laid flowers.
Education Ministry, Labor Ministry, and Cadastre Committee rebutted opposition media rumors about someone allegedly calling state workers and forcing them to participate in the Yerrablur memorial. Government bodies called the "fake news" an "attempt to create an atmosphere of division in the public."
The opposition, led by the former regime, held its own rally from the Freedom Square. They marched to St. Gregory Illuminator church. BHK chief Tsarukyan was also present. The theme remains the same: Nikol must go, Vazgen Manukyan must become the new PM.
Yerablur photos: https://armenpress.am/arm/news/1038352.html
Crowd size from above: https://youtu.be/rbFBDMNoaPI ,
https://armenpress.am/arm/news/1038343.html , https://armenpress.am/arm/news/1038348.html , https://armenpress.am/arm/news/1038340.html , https://armenpress.am/arm/news/1038349.html , https://armenpress.am/arm/news/1038351.html , https://www.armtimes.com/hy/article/203328

Sunday memorial events

President Sarkissian visited Yerablur on Sunday. "These are difficult days. I hope that with the end of 2020 we will close the tragic page and we will be able to stand up and open a new page. The only thing we will remember from 2020 is the sacred memory of the people who gave their lives to defend the Homeland. All misfortunes should be lessons, not painful memories. We have to start our life again. I look forward to the end of this year".
PM and family paid tributes to fallen soldiers in Tavush province.
LHK and church leadership visited Yerablur Pantheon.
https://armenpress.am/arm/news/1038367.html , https://armenpress.am/arm/news/1038378.html , https://armenpress.am/arm/news/1038379.html , https://armenpress.am/arm/news/1038381.html

parts from Pashinyan speech: past & present, investigation, border demarcation

We will need a comprehensive evaluation of how and why things developed and ended that way. We must face the reality and admit that we have made mistakes for many years, the mistakes we have made have been systemic, conceptual, substantive. This cannot be a result of one person or events in just a few years.
Did I understand all this while taking office as Prime Minister? Of course. Was I trying to change the situation? Of course. I am now more convinced than ever that there was simply no time to stop the spinning wheel of history.
The borders in the Syunik sector are being adjusted, or rather, the Armenian Armed Forces are being stationed on the internationally recognized borders of Armenia (there were no soldiers here before because Syunik was not bordering Azerbaijan before the war). This process changes certain setups we're familiar with, introduces inconveniences, complications, and emotions. In reality, this is being done to ensure and strengthen the safety of Syunik.
How? In areas outside of the Republic of Armenia, there was a high risk of military actions, which could carry on to Syunik with all their consequences. By doing the border demarcation of our internationally-recognized lands, we are introducing security assurances. Additionally, Russian border guards are already stationed in some parts of Syunik, which creates a whole new situation.
The demarcation can complicate travel on some roads, but these are issues that can be resolved by having an AM-AZ-RU document (specifically about road safety).
Not one millimeter of Syunik or Republic of Armenia land has been conceded. Any claim to the contrary is simply false.
The people, only the people, should decide the fate of the government and not the elite circles. My November 18th Roadmap will address post-war issues and establish internal stability.
"Let's build Armenia anew." I chose this slogan before the war to guide Armenia's transformation strategy. And this formula is useful for our future as well. We have to perceive the world in a new way, we have to look at what we have to do in a new way, we have to re-evaluate our capabilities in a new way, first of all in education, science, technological development, we have to build our dream anew, and we have to dream anew.
Glory to our fallen heroes, glory to our living heroes, and glory to those who will still be heroes on the way to realizing the dreams of our people.
Full: https://armenpress.am/arm/news/1038333.html

borders: fake news, rumors, and rebuttals

Artsakh president office: the media rumors about giving Karmir Shuka (south) to Azerbaijan is fake news. Moreover, we plan to build new housing there soon.
https://armenpress.am/arm/news/1038399.html
MoD denied media rumors that two Tavush villages are being handed over to Azerbaijan and that the soldiers were told to leave. "Refrain from spreading unverified fake news," said MoD. Tavush governor called the reports "irresponsible and dangerous".
https://armenpress.am/arm/news/1038457.html , https://armenpress.am/arm/news/1038464.html
Sosu Purak is a park in Syunik province, bordering Azerbaijan. The Nature Ministry rebutted the media rumors about half of the park going under Azeri control. *"Sosu Purak, which is managed by Zangezur POAK, has 64.1 hectares of lands, which are located within the Republic of Armenia."
https://armenpress.am/arm/news/1038477.html

border demarcation continues in Syunik / Pashinyan visits the border settlements

NSS says: border adjustments are being made in Goris-Kapan road sections under the mediation of Russia. (read Friday report for details). The process will finish in a few days. It'll nesure safe passage for cars.
https://armenpress.am/arm/news/1038380.html
Syunik governor Melikset: don't exit the Armenian border to collect or chop wood. Keep your animal herds within Armenia. The border roads will have info-plates with numbers that you can dial if you have questions.
https://armenpress.am/arm/news/1038383.html
Pashinyan before visiting Syunik:
I am saddened to learn that my visit to Syunik has ignited certain passions. I hope you will be convinced that my decision to visit Syunik is not intended to inflame everyone. I made the decision to convey my respect and appreciation for the people of Syunik. The second most important reason is to answer your questions, to give the necessary explanations. Not a single millimeter of land has been ceded from Syunik Province of RA and I hope we'll be able to talk about this.
https://armenpress.am/arm/news/1038397.html
protesters
A group of protesters, lead by the city's deputy-mayors, closed the Goris road so Pashinyan couldn't enter the city. The police were involved, there was a scuffle.
Goris mayor ex-HHK Arush Arushanyan was taken to the police station earlier that day and charged with attempting to organize an unauthorized event/protest (Code 34-2251) to prevent the PM from entering the city. HHK and BHK officials gathered outside of the police station to show him support.
2010 border demarcation law, the "GPS" myth
Pashinyan met the crowd in Sisian. One of the opposition's complaints has been "GPS is inaccurate and cannot be used for demarcation", to which, Pashinyan answered, "[the demarcation] is done multiple times, with different methods. There is no issue in this regard."
Pashinyan: There is a lot of talk about *"giving away" Syunik". In fact, it is quite the opposite. When we deploy our border troops in accordance with the Armenian border, our level of security increases because that border also becomes the border of the security system of which we are a member.
The demarcation is carried out following the law adopted in 2010. The issue is that the current borders, the description of the administrative borders of our communities, were clarified by the law on the "administrative-territorial division of the Republic of Armenia", adopted in 2010.
In that law, for example, villages Khndzoresk and Tegh were drawn to include borders with Azerbaijan. The government in 2010 had accepted that demarcation; now we're facing problems here. And today, some of the people, who ask why and how the borders are being demarcated this way, are the same officials who were public officials in 2010, who adopted this law.If what we're doing today is "treason", then what happened in 2010 is even more of a "treason".
"why didn't CSTO get involved during war?"
Pashinyan: why didn't CSTO act during the war? For the same reason: our 2010 law states that this is what our official Republic of Armenia border is and that anything beyond Tegh village is Azerbaijan. CSTO, naturally, couldn't act beyond our official borders. We have received assurances that in the event of action within our borders, the bloc will act.
army & people
Resident: our army did not lose the war.
Pashinyan: Our army and the people are heroes, there can be no two opinions about it. That doesn't mean there weren't issues, or some soldiers and generals didn't complete their tasks. We must build our self-confidence and optimism one by one, we must rebuild Armenia and Artsakh.
meeting in Sisian
Pashinyan visited Sisian city Pantheon. He then met a crowd in the main square and thanked them for "for such an understanding, for such an acceptance". During a speech in Sisian, Pashinyan said he will avoid confrontation with those who closed the road to Goris city. He said there were families and supporters who wanted to meet in Goris, and that one of the reasons the road was closed to possibly prevent that from happening.
Father of a fallen soldier: Pashinyan still has 8 months to go. He must and will answer all the questions. Tomorrow, ARF Ishkhan Saghatelyan and those guys [ex-regime] must also answer. Tomorrow they [ex-regime] will say "go ask Nikol if you have questions". So Nikol should do his part and answer the questions, so others can answer theirs.
Pashinyan: please try not to politicize today [about giving ARF Ishkhan's name].
Father of a fallen soldier: we must give their names. The same names and their parties are gathered in the public square today. Today you [Nikol] must enter Sisian and elsewhere with your head held high and without bodyguards. Let's get rid of pain and sorrow then we will know what to do next.
various concerns
Residents spoke about various border and social issues.
Pashinyan: I came to look at Syunik residents in the eye. I know that I'm guilty in many ways. Our citizens deserve more. Unfortunately, not a single government, including ours, has been able to deliver what our citizens deserve. I apologize on behalf of all governments.
priest vs Pashinyan
While in Syunik, Pashinyan entered a church and lit a candle in memory of the fallen. Upon exiting, he came across priest Pargev Zeynalyan. Pashinyan raised his hand to greet but the priest let it hang in the air. Pashinyan left.
A church representative said the priest had the right to express his political beliefs.
That didn't prevent the crowd, angry at the priest's conduct, to march to the church and block its entrance. They wanted to kick the priest out. The police told the crowd not to enter. The priest refused to meet the protesters. The protesters left and promised, "not to allow the politicized priest to enter that church again".
The priest denied subsequent false rumors about police allegedly raiding his house over the incident. (of course, gotta throw a couple of fake news here and there for "political persecutions" illusion)
 
Pashinyan was supposed to travel from Sisian to Goris, but the road was closed, as mentioned earlier. He decided not to confront the group and returned to Yerevan. "Now I am convinced that the road was closed so that it does not become obvious that the atmosphere in Goris, Kapan, Kajaran, Meghri was the same as in Sisian *[generally welcoming]. We will not resort to force, especially on the day of mourning. We are returning to Yerevan. I owe one visit to Goris, Kapan, Kajaran, and Meghri. Peace to our martyrs."*
https://youtu.be/asPPVNg_k0Y , https://www.armtimes.com/hy/article/203410 , https://armenpress.am/arm/news/1038442.html, https://armenpress.am/arm/news/1038422.html , https://armenpress.am/arm/news/1038401.html , https://armenpress.am/arm/news/1038396.html , https://armenpress.am/arm/news/1038408.html , https://armenpress.am/arm/news/1038414.html , https://armenpress.am/arm/news/1038426.html , https://armenpress.am/arm/news/1038428.html , https://armenpress.am/arm/news/1038444.html , https://armenpress.am/arm/news/1038456.html , https://www.armtimes.com/hy/article/203407 , https://www.armtimes.com/hy/article/203415 , https://youtu.be/4pqY2hmff68 , https://youtu.be/M9wP9e_UoBA , https://factor.am/322943.html

border demarcation: Shurnukh border village suburbs

Mayor of border village Shurnukh, Syunik: The 12 houses in the lower suburbs, which according to rumors were supposed to go under Azeri control, will stay under Armenian control, according to the latest updated information. The army and Russians came and began working on border installation beyond the village area. I'm not entirely sure this is the final status, it could change, so stay tuned.
There will be a demarcation process but I don't know when. Our local volunteers guard the borders. Women and children were evacuated from the area for now, just in case.
https://www.armtimes.com/hy/article/203332

re: Russians will guard parts of 21km Syunik road

MoD says: some of the 21km Goris-Kapan road goes through disputed areas. We have an agreement for Russian border guards to monitor Goris-Kapan and Goris-Davit Bek sections to ensure safe passage. Armenian and Azeri troops will be stationed on opposite sides of the road. More info in the coming days. (if you look at the map, the road is the exact border)
https://www.armtimes.com/hy/article/203346

press unions condemn attacks on media outlets / free press

First incident. Former regime's activists attempted to prevent Pashinyan and tens of thousands of participants from marching to Yerablur Pantheon on weekend. During the incident, they identified a journalist from "Azatutyun" (pro-western) and began assaulting him. (Azatutyun office was also raided by supporters of former regime on November 10th).
Second incident. 5TV is owned by Kocharyan's friend. It has a record of manipulating interviews and information in general (e.g. the March 1st documentary). Some people don't like them for this reason. 5TV reporter was cussed by Pashinyan supporters, while QP MP Andranik Kocharyan refused to take questions from him.
Third incident. Opposition activists cussed Azatutyun reporters and tried to prevent them from doing the work.
https://armenpress.am/arm/news/1038471.html

PRESS casualties during the war

HR Ombusmn: Five foreign and two Armenian reporters received severe injuries during the war. One reporter was killed. They were targeted by Azerbaijan intentionally. They were wearing PRESS uniforms, which are visibly different from army uniforms. Azerbaijan prevented reporters from working in front lines and launched a felony investigation against some international reporters (Semyon Pegov) for visiting Artsakh.
https://web.archive.org/web/20201219074426/https://www.armtimes.com/hy/article/203315

POWs & search operation

62 Armenian soldiers remain encircled/captured near the Khtsaberd village after the previous weekend skirmishes in the narrow strip of land held by Armenia west of the Shushi-Hadrut corridor. "They are alive and well."
Azerbaijan has acknowledged their presence. Work is being done with Russian peacekeepers to repatriate them. 70 others had returned a few days ago. One volunteer guard said it began after over a thousand Azeri troops moved forward and told them to leave a position; some did while others didn't. This area did not have Russian peacekeepers until the incident.
https://armenpress.am/arm/news/1038368.html , https://armenpress.am/arm/news/1038369.html , https://www.armtimes.com/hy/article/203369
Six POW soldiers returned home on Sunday. They were captured during the war. President Arayik thanked Putin for mediating the transfer.
https://armenpress.am/arm/news/1038386.html
Two more POWs returned on Monday.
https://armenpress.am/arm/news/1038479.html
Since the ceasefire, 1039 bodies of soldiers have been recovered from battlefields. The searches continue in the Shushi region, Martuni, Hadrut, Fizuli. 22 found today.
https://armenpress.am/arm/news/1038417.html , https://factor.am/322564.html

medals awarded

Four Emergency Ministry employes received medals posthumously.
https://armenpress.am/arm/news/1038452.html

felony investigations post-war / SIS launches an investigation to examine:

1) Reports of officers disobeying commands during the war, and desertion. 882 cases are being examined. Dozens have been charged.
2) Several civilian and military individuals intentionally spread alarming information to create panic among soldiers in the front lines (Vitalik's friend's incident, possibly), and claimed that the war was already decided, it was a conspiracy, and that it was pointless to fight. There are multiple felony cases regarding this. Investigation continues.
3) A felony case is launched against an officer who refused to do his duties in the southern part of Artsakh. (if this is General Movses Hakobyan, expect him to cry "political persecution" because he was the first one to give a press conference to create a narrative, a-la Dodi Gago).
4) Investigations over claims made by General Movses Hakobyan on November 19th. We're investigating a group of high-ranking officials for possibly violating protocols set by the Defense Ministry, which lead to reduced performance, which impacted the outcome of the war.
We are also examining the reports, submitted by various political parties, to investigate the $5 billion offer that was made to Pashinyan by Aliyev (the offer Aliyev made to Serj and Pashinyan to give away 7 regions without a fight).
5) A felony investigation was launched [to investigate Pashinyan] after [former regime figure] Garnik Isagulyan claimed that Pashinyan took a $48 million bribe from Turkey and that his NSS chief Qyaramyan gave away 1400 passports to Azerbaijan, and helped Azeris to invade Hadrut. Isaghulyan was invited to SIS to provide evidence; he refused. The examination found no proof of these claims. A felony case was launched against Isagulyan himself for making false reports.
6) There were multiple reports in mid-November that Shushi was "sold" and an order was given for soldiers to deliberately retreat so Azeris could take it. This was investigated by SIS and NSS, courts were involved, reports from various media outlets are being investigated, including Arayik's leaked phone call and General Samvel Babayan's "post-mortem" interview.
Additionally, there is an investigation of the embezzlement of property belonging to the army.
Besides investigating these claims, we will also investigate their impact on the final outcome of the war.
https://armenpress.am/arm/news/1038432.html

lawsuits / Pashinyan's son / army officer / Dmbo Gago

Volunteer soldier Mikael Mikaelyan is suing pro-Kocharyan blog "Politik" over an alleged defamation.
The soldier says: Earlier I wrote that on October 1st I was yelling at deserting soldiers not to leave positions near Jabrayil. Then a similar story in Kubatlu; I wrote that I witnessed how Pashinyan's son Ashot was yelling at deserting soldiers; he was asking them to stay and help.
My post received a lot of attention. It's clear that these two were separate incidents on separate dates, right? They [former regime] began calling me a liar because I could not have seen Pashinyan's son on October 1st because he was sent to the front lines on the 5th. They wrote an article "Yet another chatlakh who says everyone routed except Ashotik".
https://www.armtimes.com/hy/article/202933
Deputy Army General Chief of Staff Tiran Khachatryan is suing BHK MP Naira Zohrabyabn over an alleged defamation.
https://armenpress.am/arm/news/1038342.html
BHK chief Gago's casino "Onira Club" (Shangri La) was in legal trouble over alleged financial crimes. It also lost the license on July 9th over not paying the necessary fees. The casino is now suing the Finance Ministry to have its license back.
https://www.armtimes.com/hy/article/203413

the cost of Minimum Consumer Basket in Artsakh

... was AMD 58,801 as of December, or +0.4% YoY. The Food Basket costs AMD 33,221.
https://armenpress.am/arm/news/1038441.html

Russian peacekeepers & medics

306 refugees returned to Artsakh on Sunday. 1.6km of roads were cleared of explosives, and 1 house was renovated. The peacekeepers have so far renovated 23 houses and rebuilt 8km of electric lines in Martakert. 35 patients were given medical care in Chartar settlement.
https://armenpress.am/arm/news/1038385.html

Russian sappers

Russia's Emergency Ministry presented a new de-mining vehicle that's being used in Artsakh's east. Robots play a big role in these operations; they reduce casualties.
https://armenpress.am/arm/news/1038400.html

Turkish sappers

Turkey will send 64 sappers to join the existing 135 experts to help Azeris clear the Azeri-controlled areas.
https://factor.am/322816.html

Russian aid

Seven more trucks with humanitarian aid arrived in Artsakh from Russia.
https://www.armtimes.com/hy/article/203358

housing for Russian peacekeepers

Modular housing blocs were built for 250 Russian envoy members in Stepanakert. It has apartments, a gym, a medical office, and other accommodations.
Photo: https://armenpress.am/arm/news/1038429.html

interview with Artsakh residents

https://youtu.be/tBb6Wbwovsg?t=8

Spanish city of Santa Pau

... has officially recognized the independence of the Republic of Artsakh. The resolution condemns the Azeri aggression, Turkey's active involvement.
https://www.armtimes.com/hy/article/203392

Germany wants to purchase drone missiles

... after analyzing their use in the Artsakh war. Israeli-made Heron TP will be purchased in the coming months.
digit 3: exists
Germany: mhmmm 🤔
https://armenpress.am/arm/news/1038398.html

COVID stats

+2563 tested. +652 infected. +14 deaths. +604 healed. 18011 active.
https://armenpress.am/arm/news/1038365.html
In Artsakh, 2585 tests have been done since October 1st. 1130 were positive. 70 daily tests nowadays. 232 people have been treated in hospitals; 129 have been discharged. 30 deaths.
https://armenpress.am/arm/news/1038436.html

electricity prices

The Public Utility Commission decided to keep the electricity prices the same for low-income families, and 90% of those who consume less than 400 kW/h. The large-scale consumers will see AMD 3 increase. The rate will go into effect in February. (the nuclear plant will be closed for much of the year for the final big renovation; there were talks that it could impact prices)
https://www.panarmenian.net/arm/news/288860/

infrastructure repairs

7km of roads and water drainage were repaired and installed in Horbategh, Vayots Dzor. It's a tourist area. Locals hope the renovations will improve their economic status. Smbataberd, Tsaghatsqar complex, and St. Hreshtakapetats are located nearby.
https://www.armtimes.com/hy/article/203420

sports news

Armenia's Sambo team has won 5 medals (2S, 3B) in the world cup.
https://armenpress.am/arm/news/1038364.html
Arthur Davtyan won 4 gold and 2 bronze medals in the Voronin Cup athletics competition. One was won by Armen Petrosyan.
https://armenpress.am/arm/news/1038372.html , https://armenpress.am/arm/news/1038387.html
Henrikh Mkhitaryan gave a goal-pass in the third minute. That didn't stop his team Roma from losing to Atlanta 4:1.
https://armenpress.am/arm/news/1038390.html

HimnaDram.org / housing for Artsakh civizens

All Armenia Fund met Artsakh govt to discuss housing for refugees and the homeless. They plan 9 new buildings with 236 in Askeran, 132 in Martuni, while the assessment for capital Stepanakert and elsewhere continues. Contracts were signed with construction firms. Artsakh govt thanked Himnadram for continuous help.
https://www.armtimes.com/hy/article/203336

humanitarian aid

Aurora humanitarian foundation has doubled its aid to Artsakh to $400,000. It'll be spent on 46 projects, including on HALO de-mining efforts. Aurora invited charity organizations to visit Artsakh.
https://armenpress.am/arm/news/1038418.html
The Red Cross has provided construction materials to renovate 500 houses in Artsakh.
https://www.armtimes.com/hy/article/203399
My Step foundation has donated $13,500 in household appliances to Artsakh families.
https://www.armtimes.com/hy/article/203401

you can donate to Artsakh & Armenia

www.1000plus.am (soldiers' medical help)
www.HimnaDram.org (for Artsakh & Armenia)
www.ArmeniaFund.org (U.S. tax-deductible)

archive of older posts

Armeniapedia's archive of my daily news threads:
http://www.armeniapedia.org/wiki/Daily_Anti-Corruption_Reports

disclaimer

All the accused are considered innocent unless proven guilty in the court of law, even if they "sound" guilty.
submitted by ar_david_hh to armenia [link] [comments]

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