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The Depression began during Hoover, not FDR.You blame the FDR Depression on the gold standard?
Crypto is doing a fine job destroying itself.It's an existential threat to the fractional reserve banking system. So, of course, the the WEF will make every effort to destroy it.
Yep. That's the nature of crypto speculators. As I keep saying, they are a bunch of fools desperately seeking the next bigger fools.Yeah but it just magically attracted a massive multi billion valuation just like ever other coin ever created, right?
The "Globalists", whatever that means, did nothing to bring down FTX. Bankman-Fried did it all by himself.It's the Liz Truss Jihad coin, strapped with explosives by the Globalists to blow itself up
What utter lunacy! The only “threat to the fractional reserve banking system” from the crypto world is that crypto’s self implosion will spread “contagion” to the real monetary system, to idiotic big investors like banks, “private capital” Hedge Funds, or big pension funds — that gambled insanely in this mad shitshow.It's an existential threat to the fractional reserve banking system. So, of course, the the WEF will make every effort to destroy it.
| Crypto-Related Stocks Nov 21, 2022 | Symbol | Price $ today | % loss today | % loss from high |
| Coinbase | [COIN] | 41.23 | -8.9% | -90.5% |
| Robinhood | [HOOD] | 8.85 | -3.7% | -89.6% |
| MicroStrategy | [MSTR] | 157.22 | -7.6% | -88.0% |
| Core Scientific | [CORZ] | 0.17 | -6.3% | -98.9% |
| Hive Blockchain | [HIVE] | 2.00 | -10.7% | -93.0% |
| TeraWulf | [WULF] | 0.83 | -13.4% | -98.0% |
| Marathon Digital | [MARA] | 6.19 | -17.1% | -92.6% |
| Riot Blockchain | [RIOT] | 3.98 | -10.8% | -95.0% |
| Hut 8 Mining | [HUT] | 1.12 | -9.7% | -93.3% |
A decentralized ledger as per Blockchain removes a Central bank as the controller.What utter lunacy! The only “threat to the fractional reserve banking system” from the crypto world is that crypto’s self implosion will spread “contagion” to the real monetary system, to idiotic big investors like banks, “private capital” Hedge Funds, or big pension funds — that gambled insanely in this mad shitshow.
But the crypto world has fortunately been mostly feeding on itself, it’s own illusions, and exists mostly in its own bubble. The contagion is spreading widely … to virtually all parts of the crypto world, and will likely wipe out much of its remaining $800 billion market value. Here is a select example of just yesterday’s losses — and total losses — for some well known crypto stocks:
LOSSES:
Crypto-Related Stocks
Nov 21, 2022Symbol Price $ today % loss today % loss from high Coinbase [COIN] 41.23 -8.9% -90.5% Robinhood [HOOD] 8.85 -3.7% -89.6% MicroStrategy [MSTR] 157.22 -7.6% -88.0% Core Scientific [CORZ] 0.17 -6.3% -98.9% Hive Blockchain [HIVE] 2.00 -10.7% -93.0% TeraWulf [WULF] 0.83 -13.4% -98.0% Marathon Digital [MARA] 6.19 -17.1% -92.6% Riot Blockchain [RIOT] 3.98 -10.8% -95.0% Hut 8 Mining [HUT] 1.12 -9.7% -93.3%
By the way, “fractional reserve banking” goes back centuries, long before regulatory authorities or Central Banks were set up. It is not “threatened” at all. It is today the universal practice of capitalist banks in every modern country of the world.
It does generate campaign funds though…Crypto is doing a fine job destroying itself.
Newsflash...FTX used block chainA decentralized ledger as per Blockchain removes a Central bank as the controller.
Today’s crypto are just like JFK, Saddam and Qaddafi, more bodies who threatened the franchise
I blame the length of the US Depression on the gold standard...and you'd be wrongThe Depression began during Hoover, not FDR.
I blame the length of the US Depression on the gold standard.
The Depression itself was caused by over-speculation in the stock market. Much like the 2008 crash was caused by over-speculation in the real estate and derivatives markets.
Dude...FDR took us off the Gold Standard in 1932.I blame the length of the US Depression on the gold standard...and you'd be wrong
The Lords of Finance is one of my favorite books, and it was the basis of a post I recently made in another topic.I just read Lords of Finance, The Bankers Who Broke the World, which was a very well written look at the Central Bank chairmen in the U.S., Britain, France and Germany (and Keynes’ mostly perceptive criticisms) between the two World Wars. The issues of international Gold flows during and after WWI, inflation, deflation, political developments and constraints, the stock market crash and the bank runs and Depression that began over a year later — all these complex developments defied easy resolution, and ultimately led to World War II.
Thanks for the Wikipedia link, Lesh, which gives a historical overview and indicates the inadequacy in modern times of already hybrid Gold / Silver standards.
www.usmessageboard.com
Oh, and Bankman-Friedman did not give half a billion dollars to the Democrats as Flash claims. That's a YUGE lie.
www.nbcnews.com
Where did you get the idea I am defending SBF?You might want to keep your powder dry before jumping to defend Sam Bankman Fried and his gigantic Ponzi scheme.
~~~~~~There are two scandals surrounding FTX right now. One is real, the other is a hoax. This topic is about the real scandal.
If you want to discuss the fake scandal, I have created a topic for it here: The FAKE FTX Scandal
Sam Bankman-Fried created a crypto exchange called FTX. There are a lot of crypto exchanges. A crypto exchange is just a place where you can buy and sell crypto.
.When you have an account with a crypto exchange, many of them offer benefits similar to what banks offer. You earn interest on your deposits and so forth.
FTX offered a fairly high interest rate on customer deposits. And like other crypto exchanges, FTX also offered their own crypto currency. In this case, FTT.
FTT was created out of thin air, like most crypto exchange coins. FTT was not pegged to any currency. Again, like most crypto exchange coins, its value was whatever the suckers who play in crypto think it was worth.
FTX had a partner firm which was a trading firm. This trading firm is called Alameda Research.
The one day, inflation began climbing. As inflation climbed, speculators began losing confidence in crypto and crypto begin falling.
Then the Fed began raising interest rates, and crypto again suffered an even bigger collapse.
Right about this time, a crypto newsletter called CoinDesk published an article revealing that Alameda Research had a shit ton of FTT backing its investments and covering as collateral for loans.
And since crypto's value was collapsing...well, you can take it from there.
CoinDesk's article hit like a bombshell.
A rival company of FTX called Binance announced they were divesting themselves of all their FTT tokens. And this kicked off a crypto exchange version of a bank run on FTX.
Boom. Down goes Frasier! Down goes Frasier! Down goes Frasier!
Thus endeth the career of one Sam Bankman-Fried.
Divisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet
Alameda had $14.6 billion of assets as of June 30, according to a private document CoinDesk reviewed. Much of it is the FTT token issued by FTX, another Bankman-Fried company.www.coindesk.com
The fake FTX scandal and the real FTX scandal have been deliberately conflated in your weak minds by your propagandists.~~~~~~
Death Ninja described you and your post best.
Quote: (You sick twisted cretin, you fascist democrats are literally impossibly fucking stupid!)
Then why as e been arrested in the Bhama's?
And exactly where have I defended SBF?You might want to keep your powder dry before jumping to defend Sam Bankman Fried and his gigantic Ponzi scheme. T
