Tag: twitter

Can #MintTheCoin solve the US economic crisis?

Financial News, Government, Health, North America, Politics, Social Issues, USA

In case you’ve been living under a rock this past year has been one of ‘strange and unprecedented’ times thanks to the ongoing COVID-19 crises that has taken over as a global pandemic. What initially started as a public health issue however quickly escalated in many parts of the world into an economic disaster that has seen national debts plummet drastically and rapidly as governments seek to fill the fiscal gaps left by the crises due to unemployment and various lockdown restrictions. 

The United States of America has become the epicentre of the virus outbreak since it was initially discovered in Wuhan, China back in late 2019 before starting to spread worldwide in early 2020. The USA currently has around just over a third of all worldwide cases of coronavirus and has been responsible for nearly a fifth of the total number of deaths attributed to the virus. 

As the economy has had to shut down in the various states of lockdown with knock on effects seeing unemployment soaring, there has been a surprising call for the national treasury to mint two $1Trillion Dollar coins. 

The idea for the two coins however is not new to the current crises, but actually a resurgence of a # that to #MintTheCoin that first emerged in 2013. The hashtag, which has its own website, is thanks to what some are calling a loophole in the existing laws surrounding the printing of money that allow the US Treasury to assign any amount to a platinum coin. 

The Federal Reserve would then buy the coins from the US Treasury and distribute $1,000 USD a month to US citizens via a preloaded credit card. The proposal is currently called the Automatic BOOST to Communities Act and is being presented by U.S. Representative for Michigan Rashida Tlaib.

Twitter, Facebook suspend accounts allegedly tied to Chinese government effort to undercut Hong Kong protests

Big Data, General, Social Media

Twitter has gone on another account suspension spree, this time targeting nearly 1,000 accounts it claims are agents of a Beijing-devised conspiracy to influence the world’s perception of political events in Hong Kong. Meanwhile, Facebook has banned seven pages, three groups and five accounts for “coordinated inauthentic behaviour as part of a small network that originated in China and focused on Hong Kong.”

“Inauthentic behavior” is Facebook’s latest catch-all term for content that runs counter to its own Western-oriented ideology. (Facebook has partnered with organizations with ties to Western governments in its efforts to root out “fake news” and “disinformation.” One such organization is the Atlantic Council, funded in part by the US State Department and NATO.)

A total of 936 accounts have been unplugged by Twitter, all allegedly based in China, all allegedly in violation of Twitter’s “platform manipulation policies.” The South China Morning Post reports:

“The social media activity of the suspended accounts, which posted in both English and Chinese, were part of efforts to undermine the ‘legitimacy and political positions of the protest movement on the ground,’ the company said.”

Of the accounts suspended, 326 had over 10,000 followers, some with close to 300,000. But Twitter assures us that “intensive investigations [found] reliable evidence to support that this is a coordinated state-backed operation.”

Speaking of coordination, Facebook confirmed that its own China-backed users were shut down thanks to a “tip” from Twitter. Partners in censorship?

Of course, it’s safe to assume that China is doing what it can to undermine the legitimacy of the Hong Kong protests, but it’s equally safe to assume that the US government is doing what it can in the opposite direction. At the time of writing, neither Twitter nor Facebook has suspended any accounts for being part of a US-led campaign to drum up support for political unrest in Hong Kong.