Given the timing of this you can make a very credible argument that this was a Wall St. takedown (a la my Fed v. Davos argument) of a pillar of control over crypto through the use of leverage. If we're in a deflationist mindset here then it makes sense that blowing up these leverage factories is in the strategic interest of those trying to regain control over the financial system and counter the push towards fully digital money.
A twitter discussion of the FTX exchange collapse which examines connections of the players, and theorizes they formed FTX, got people’s money, gave it to the Democrats, and then crashed the FTX exchange criminally, to crash, destroy confidence in cryptos, and pave the way for Central Bank Digital Currencies."
Interesting, however given the publics level of understanding of things like say: The severity of let us say of a mysterious pathogen, or the level of censourship that can and will be applied if it benefits the powers that wish to remain in power. The FTX blow up has already spooked a good many of the crypto sawy, this does not bold well for those wanting to perserve some basic freedoms...
I'm not sure "the public" (John and Jane sheeple) matters too much in this. There's already a hardcore userbase for BTC, ETH, and a handful of ERC20 tokens/altcoins. BTC maximalists are hostile to "crypto", so the FTX ponzi just hardens their stance. DeFi advocates will point to the fact FTX wasn't DeFi, but a central exchange. OGs got in at such low levels, they're still deep in the green. True believers are price insensitive. Nigeria tried to roll out a CBDC and managed to get 2% adoption (shockingly enough, Nigerians prefer BTC & stablecoins over their corrupt government's shitcoin offering, heheh).
It's similar to how "JPmorgue" might step on the silver price using derivatives (they already paid a token fine for manipulation, it became such a problem the FTC couldn't deny it anymore and retain credibility), but the "Silverbacks" just buy more (which is resulting in very low levels of silver on the COMEX, metal dealers having unprecedented difficulty getting inventory, and record high premiums if you want to hold physical silver (approaching 100 freakin' percent if you want American Silver Eagles - which the US mint has strangely & unprecedentedly cut production from 40 million/yr to 3 million/yr, hmm...). Combine that with Indians deciding that in addition to gold, they now like silver too (they're buying a lot more than they historically do) and China's demand, well...
The system has a built in fail mechanisme, but it was not moving in the right direction for some people. One thing bitcoiners, silverstackers, DeFiers, goldbugs etc have in common with the people behind FTX is that, they all know that. That is what it seems to me, the forces that be put in place a thing liked FTX wanted to accelerate, and crash on their terms. In USD terms FXT seems to be about, the same size as Long Term Capital Management... Let us hope that we can adopt some of the streets smarts of the Nigerians. Nigeria has a lot going for it. I don't know much about the country, apart from it having a young demographic, and low level of vaccine uptake. But if you blow up the global oil supply and ruin grain deliveries, then bitcoin, gold & Nigerian street smarts have as big of a problem, along with everyone else... What did Klaus Schwab say: "I think we have to prepare for a more angry world... I do not have to many remedies for that, that is for the stakeholders to solve..." We do live in interesting times for sure...!
True, but if they blow up the grain & petroleum supplies they have much bigger problems, which is their police enforcers are in the shit along with everybody else.
All oligarchs run into the same problem eventually: You can't purchase a rough man's loyalty. Eventually those rough men look you over and ask "Hey there fat, florid, out-of-shape rich guy... How much money DO you have, anyway?"
It's at that point the unforeseen consequences become seen and you get a Mr. and Mrs. Ceaușescu photo-op.
True, the British title duke, stems from the latin dux which was a military title in the roman army. When the roman empire faded away, the nobles hid in their villas with their gold & their servants until a rag-tag-gang came & took it and them....
Fast forward and picture the last internet headline that ever goes out: 2040 An Army Under The Command of General Robert Adeyinka Adebayo the 3rd has just invaded Switzerland...
Hi Tom, that would make sense and I'd believe it if I thought that the people that let this can of worm out were smart enough to plan it that way. But somewhere in that planning is just base greed to defraud and plunder. Can you do all that and still execute a long-term strategic agenda without going batshit bonkers in the process? I'm not even sure what to think.
I think CZ conspired with the Fed to blow it up. They both have incentives (CZ takes out a competitor (and is also positioned to deal with the coming increased regulation more than the other competitors), and The Fed gets to eliminate more offshore leveraged dollar market (like they're doing to the Eurodollar market)).
What I am curious about, will this wretched loaded criminal and companions be caught in Argentina and brought to justice, or not? Any way, he will surely get his 'reward' in this or his next 'life,' probably in one of the many slums the world can be proud of. Now a rich man, then a beggar ... which makes me think, why are there so many so poor off?
Nevertheless the story is a good read and hats off to you Sir.
Yes, I remember during her trial in San Jose which was postponed & disrupted by Santa Clara County’s Covid rules, the twisted surreal irony of the whole situation. Here is a woman on trial for fraud, who was on every talk show and magazine cover a couple years before. At the same time she is on trial for fraud, you see “experts” on daily news conferences on TV, unelected county health commissioners, all over the media, same messaging. Wear a mask, social distancing etc..It was very strange
Can't help but wonder whether this epic meltdown is (also) part of an apparent strategy trash the reputation of BTC in order to drive off retail investors and eventually bring it firmly under corporate control whereby it can be wholly "financialized."
Could be - but I wouldn't credit "them" with that much far-sightedness and strategic thinking; it was all driven by greed and fraud which always ends up having a dynamic all of its own.
It says she was supposedly sentenced to 11 years, but I'm not sure I buy it (my gut sense is that these politically/deep state connected folks go in the front door and out the back door).
I also had the same sense about John Hinkley Jr. (alleged shooter of Reagan, family friends of the Bushes, father was with World Vision, which is some kind of CIA front). I'm a clinical psychologist and used to live in DC and had occasion to visit St. Elizabeth's once. I believed the story about him being there until I actually visited and then my immediate reaction was no way.
This guy, Russ Winter, also doesn't buy the bringing the perps to justice stories for these deep state connected folks:
Found this comment over at ZH--seems like these fraudsters always have interesting connections to government criminals
Elizabeth Holmes' father, Christian Rasmus Holmes IV, was a vice president at Enron when it later went bankrupt after an accounting fraud scandal. Christian later held executive positions in government agencies such as USAID(CIA front), the EPA, and USTDA.
I am not buying any of this. Do not be surprised if we don’t hear real soon that he suicided himself. This entire story stinks and I am convinced the entire thing is a flat out lie. The reason???? I am still contemplating what is going on but I do know for sure it is not what anyone is telling us and it is not what the good guys like the author of this article think
Thank you Theresa; Holmes' fraud was easily detected and as Carreyrou's book shows, every time she went to real VC investors in the Silicon valley, she was immediately eliminated. She had no expertise and any rigorous due diligence quickly determined that she was a fraud. Her success was paved by political operatives and deep-state linked VCs.
Including Betsy De Vos and George Schultz. What do you make of Schultz’s eventual awakening and defense of his grandson from what he characterized as monstrous people?
I am late and slow to come to your work. I just enjoyed your RTF lecture of five months ago (on the 1938 agreement) last week...And thank Teresa for guiding me towards your work here.
It’s mind boggling that the cov-ID fraud would have taken root amidst the prosecution of Purdue Pharma and Theranos.
Hi Adria, many thanks for your kind words. What you mention - did that actually happen? I mean Schultz's change of heart? I read that even after the whole fraud unravelled he did not invite his grandson to his birthday party but did invite Holmes. But perhaps things evolved past that time and I didn't know the part you mention.
Alex, I am so embarrassed to have found your comment just now scrolling through emails nearly a month late... Yes, Shultz came to realize that his grandson was right and he defended and protected his grandson at a meeting with Theranos's representatives and lawyers. That is how Shultz characterized it, that he stepped in to protect his grandson from "monstrous people". He relayed this (in these terms) in an interview with 60minutes. I cannot find a clip online but I recall it.
Alex,
Given the timing of this you can make a very credible argument that this was a Wall St. takedown (a la my Fed v. Davos argument) of a pillar of control over crypto through the use of leverage. If we're in a deflationist mindset here then it makes sense that blowing up these leverage factories is in the strategic interest of those trying to regain control over the financial system and counter the push towards fully digital money.
DIg it baby:
A twitter discussion of the FTX exchange collapse which examines connections of the players, and theorizes they formed FTX, got people’s money, gave it to the Democrats, and then crashed the FTX exchange criminally, to crash, destroy confidence in cryptos, and pave the way for Central Bank Digital Currencies."
https://twitter.com/JagoeCapital/status/1590751676105125888
Interesting, however given the publics level of understanding of things like say: The severity of let us say of a mysterious pathogen, or the level of censourship that can and will be applied if it benefits the powers that wish to remain in power. The FTX blow up has already spooked a good many of the crypto sawy, this does not bold well for those wanting to perserve some basic freedoms...
I'm not sure "the public" (John and Jane sheeple) matters too much in this. There's already a hardcore userbase for BTC, ETH, and a handful of ERC20 tokens/altcoins. BTC maximalists are hostile to "crypto", so the FTX ponzi just hardens their stance. DeFi advocates will point to the fact FTX wasn't DeFi, but a central exchange. OGs got in at such low levels, they're still deep in the green. True believers are price insensitive. Nigeria tried to roll out a CBDC and managed to get 2% adoption (shockingly enough, Nigerians prefer BTC & stablecoins over their corrupt government's shitcoin offering, heheh).
It's similar to how "JPmorgue" might step on the silver price using derivatives (they already paid a token fine for manipulation, it became such a problem the FTC couldn't deny it anymore and retain credibility), but the "Silverbacks" just buy more (which is resulting in very low levels of silver on the COMEX, metal dealers having unprecedented difficulty getting inventory, and record high premiums if you want to hold physical silver (approaching 100 freakin' percent if you want American Silver Eagles - which the US mint has strangely & unprecedentedly cut production from 40 million/yr to 3 million/yr, hmm...). Combine that with Indians deciding that in addition to gold, they now like silver too (they're buying a lot more than they historically do) and China's demand, well...
Remember: Once you get enough "true believers" you can stick a fork in it, it's done: https://cacm.acm.org/news/121846-researchers-find-tipping-point-to-sway-public-opinion/fulltext
Put all of this in context with this poll https://www.axios.com/2022/11/04/qanon-government-secret-cabal-poll and it looks like we're in for some exciting times ahead, heheheh.
The system has a built in fail mechanisme, but it was not moving in the right direction for some people. One thing bitcoiners, silverstackers, DeFiers, goldbugs etc have in common with the people behind FTX is that, they all know that. That is what it seems to me, the forces that be put in place a thing liked FTX wanted to accelerate, and crash on their terms. In USD terms FXT seems to be about, the same size as Long Term Capital Management... Let us hope that we can adopt some of the streets smarts of the Nigerians. Nigeria has a lot going for it. I don't know much about the country, apart from it having a young demographic, and low level of vaccine uptake. But if you blow up the global oil supply and ruin grain deliveries, then bitcoin, gold & Nigerian street smarts have as big of a problem, along with everyone else... What did Klaus Schwab say: "I think we have to prepare for a more angry world... I do not have to many remedies for that, that is for the stakeholders to solve..." We do live in interesting times for sure...!
True, but if they blow up the grain & petroleum supplies they have much bigger problems, which is their police enforcers are in the shit along with everybody else.
All oligarchs run into the same problem eventually: You can't purchase a rough man's loyalty. Eventually those rough men look you over and ask "Hey there fat, florid, out-of-shape rich guy... How much money DO you have, anyway?"
It's at that point the unforeseen consequences become seen and you get a Mr. and Mrs. Ceaușescu photo-op.
True, the British title duke, stems from the latin dux which was a military title in the roman army. When the roman empire faded away, the nobles hid in their villas with their gold & their servants until a rag-tag-gang came & took it and them....
Fast forward and picture the last internet headline that ever goes out: 2040 An Army Under The Command of General Robert Adeyinka Adebayo the 3rd has just invaded Switzerland...
Have you seen the trolling Tweets flying? You will love that. Nestle' Tweeting we steal your water & sell it back to you...
Hi Tom, that would make sense and I'd believe it if I thought that the people that let this can of worm out were smart enough to plan it that way. But somewhere in that planning is just base greed to defraud and plunder. Can you do all that and still execute a long-term strategic agenda without going batshit bonkers in the process? I'm not even sure what to think.
I think CZ conspired with the Fed to blow it up. They both have incentives (CZ takes out a competitor (and is also positioned to deal with the coming increased regulation more than the other competitors), and The Fed gets to eliminate more offshore leveraged dollar market (like they're doing to the Eurodollar market)).
What I am curious about, will this wretched loaded criminal and companions be caught in Argentina and brought to justice, or not? Any way, he will surely get his 'reward' in this or his next 'life,' probably in one of the many slums the world can be proud of. Now a rich man, then a beggar ... which makes me think, why are there so many so poor off?
Nevertheless the story is a good read and hats off to you Sir.
Thank you Jeanpierre. For sure SBF will get a proper slap on the wrist and a stern warning never to steal billions from people again.
Yes, I remember during her trial in San Jose which was postponed & disrupted by Santa Clara County’s Covid rules, the twisted surreal irony of the whole situation. Here is a woman on trial for fraud, who was on every talk show and magazine cover a couple years before. At the same time she is on trial for fraud, you see “experts” on daily news conferences on TV, unelected county health commissioners, all over the media, same messaging. Wear a mask, social distancing etc..It was very strange
Spectacle
Can't help but wonder whether this epic meltdown is (also) part of an apparent strategy trash the reputation of BTC in order to drive off retail investors and eventually bring it firmly under corporate control whereby it can be wholly "financialized."
Could be - but I wouldn't credit "them" with that much far-sightedness and strategic thinking; it was all driven by greed and fraud which always ends up having a dynamic all of its own.
https://www.zerohedge.com/markets/theranos-founder-elizabeth-holmes-faces-judgment-day
It says she was supposedly sentenced to 11 years, but I'm not sure I buy it (my gut sense is that these politically/deep state connected folks go in the front door and out the back door).
I also had the same sense about John Hinkley Jr. (alleged shooter of Reagan, family friends of the Bushes, father was with World Vision, which is some kind of CIA front). I'm a clinical psychologist and used to live in DC and had occasion to visit St. Elizabeth's once. I believed the story about him being there until I actually visited and then my immediate reaction was no way.
This guy, Russ Winter, also doesn't buy the bringing the perps to justice stories for these deep state connected folks:
https://www.winterwatch.net/2021/11/out-the-book-door-questioning-the-death-of-jeffrey-epstein/
https://www.winterwatch.net/2021/09/is-jeffrey-epstein-being-subjected-to-star-chamber-sleight-of-hand/
Found this comment over at ZH--seems like these fraudsters always have interesting connections to government criminals
Elizabeth Holmes' father, Christian Rasmus Holmes IV, was a vice president at Enron when it later went bankrupt after an accounting fraud scandal. Christian later held executive positions in government agencies such as USAID(CIA front), the EPA, and USTDA.
https://en.wikipedia.org/wiki/Elizabeth_Holmes
https://www.globalresearch.ca/cia-front-usaid-spreading-democracy-gearing-up-in-ukraine-suharto-ii/5381174
I am not buying any of this. Do not be surprised if we don’t hear real soon that he suicided himself. This entire story stinks and I am convinced the entire thing is a flat out lie. The reason???? I am still contemplating what is going on but I do know for sure it is not what anyone is telling us and it is not what the good guys like the author of this article think
Thank you Theresa; Holmes' fraud was easily detected and as Carreyrou's book shows, every time she went to real VC investors in the Silicon valley, she was immediately eliminated. She had no expertise and any rigorous due diligence quickly determined that she was a fraud. Her success was paved by political operatives and deep-state linked VCs.
Including Betsy De Vos and George Schultz. What do you make of Schultz’s eventual awakening and defense of his grandson from what he characterized as monstrous people?
I am late and slow to come to your work. I just enjoyed your RTF lecture of five months ago (on the 1938 agreement) last week...And thank Teresa for guiding me towards your work here.
It’s mind boggling that the cov-ID fraud would have taken root amidst the prosecution of Purdue Pharma and Theranos.
Hi Adria, many thanks for your kind words. What you mention - did that actually happen? I mean Schultz's change of heart? I read that even after the whole fraud unravelled he did not invite his grandson to his birthday party but did invite Holmes. But perhaps things evolved past that time and I didn't know the part you mention.
Alex, I am so embarrassed to have found your comment just now scrolling through emails nearly a month late... Yes, Shultz came to realize that his grandson was right and he defended and protected his grandson at a meeting with Theranos's representatives and lawyers. That is how Shultz characterized it, that he stepped in to protect his grandson from "monstrous people". He relayed this (in these terms) in an interview with 60minutes. I cannot find a clip online but I recall it.
OK, cool - I'm actually glad to know this, thank you for the feedback!
To add: WEF removed a webpage linking to FTX; Epoch Times/Crossroads pulled the page from a web archive and discussed it briefly today.