patrick.net

https://kunstler.com/clusterfuck-nation/a-smoldering-fuse/

Thirty-seven billion more dollars for Ukraine? (That’s thirty-seven thousand millions of dollars, by the way.) Bringing the total this year to a click-or-two over ninety billion (ninety-thousand millions), on top of whatever Sam Bankman-Fried’s FTX company funneled through that sad-sack international money laundromat — soon to be the darkest backwater of a European failed state since Field Marshal Melchior von Hatzfeldt of Westphalia left Bohemia a corpse-strewn wasteland after the Battle of Jankau (1645).

It really doesn’t matter how much more money we pound down that rat-hole, you understand, because by the time various parties — the weapons-makers, Volodymyr Zelensky, sundry members of the US House of Representatives, The Biden family, the World Economic Forum — are finished creaming off their fair shares, poor Ukraine won’t have enough cash-on-hand to replace six fuse-boxes in Zaporizhzhia.

Against this backdrop, the USA enters a holiday season near-death spiral as unspooling scandals battle a collapsing economy for supremacy of the alt news sites. Case-in-point: the aforementioned FTX monkey business, a metastasizing tumor of the body politic. This complex fraud will smolder for a few weeks before it explodes into an extinction-grade event for the Democratic Party. The usual suspects among the mainstream media are trying to ignore it for the moment, but the shreds of this exploding money-borg are already sticking to guilty parties far and wide across the political landscape.

FTX commander-in-chief Sam Bankman-Fried remains at large after steering the crypto-currency trading platform into a bankruptcy so hideously tangled that the assigned liquidator in court proceedings, one John Ray III, who oversaw the Enron aftermath years ago, was boggled by what he’s found so far (and it’s early in the game): Namely, a company run by a handful of twenty-something drug freaks with no idea what they were doing, no record-keeping, and a slime trail of misappropriated investor’s funds leading to Kiev and Geneva through various crooked American political action committees, and the halls of Congress — with echos in ballot harvesting shenanigans which shaped the outcome of this month’s US elections.

Mr. Bankman-Fried is still scheduled as a main speaker for Accenture’s Nov. 30 DealBook Conference in New York ($2,499 for a ticket), along with Ukrainian President Volodymyr Zelensky and US Treasury Secretary Janet Yellen. Odds on him showing up? Or even being alive elsewhere on this planet then?

The extended family Bankman-Fried is the quintessence of Woke aristocracy. Dad Joe Bankman and mom Barbara Fried are both law professors at Stanford. She also acted as a money-bundler for the Democratic Party and ran two non-profit “voter registration” orgs (against the IRS laws which only permit non-partisan organized voter registration). Brother Gabe Bankman-Fried headed a non-profit named Guarding Against Pandemics (funded by Sam), which lobbies Congress to construct new platforms for medical tyranny. Aunt Linda Fried is Dean of the Columbia U’s Public Health school, and is associated with Johns Hopkins, which ran the October 2019 Event 201 pandemic drill (sponsored by the Gates Foundation) months before the Covid-19 outbreak.

Sam’s girlfriend, Caroline Ellison, ran the Alameda Investments arm of the FTX empire (that is, FTX’s own money laundromat). Her dad, Glenn Ellison is chair of MIT’s Econ School. His former colleague on the MIT Econ faculty, Gary Gensler, who specialized in blockchains there, is now head of the Securities and Exchange Commission, an agency that Sam Bankman Fried was attempting to rope into a regulation scheme to eliminate FTX’s crypto-currency competitors. Caroline’s mom, Sara Fisher Ellison is an MIT econ prof specializing in the pharmaceutical industry (fancy that!). Caroline Ellison is currently on-the-run.

The sum total of all this professional and academic accomplishment is also the quintessence of Woke-Jacobin turpitude in service to a political faction that seeks maximum moneygrubbing while acting to overthrow every norm of behavior in the conduct of elections, and perhaps in American life generally. That’s some accomplishment. It’s also a lesson in why the managerial elite of our country are no longer trustworthy. They have gotten away with crimes against the nation for years, which has only made them bolder and more reckless.

Wait for the FTX bankruptcy to unwind, along with all the political ramifications it entails, not to mention the financial afterburn in the whole crypto market, very likely extending into and befouling the rest of the banking system. This is going to be a clusterfuck for the ages, and will propel the USA into a depression with no visible horizon.

Her mom is a dude.



https://economics.mit.edu/people/faculty/sara-fisher-ellison

https://dossier.substack.com/p/will-sbf-get-away-with-it-international

Will SBF get away with it? International hurdles and corrupted elites may block justice for the crypto fraudster

Oh probably. Democrats do not have to obey the law, especially not if they are megadonors to Democrat campaigns.

Well, I suppose after Ed Buck murdered two or three young black men in a frenzy of homo-sex, they had to do something, but they tried hard not to, because he was such a major donor to Democrat campaigns.

Patrick says

Well, I suppose after Ed Buck murdered two or three young black men in a frenzy of homo-sex, they had to do something, but they tried hard not to, because he was such a major donor to Democrat campaigns.

Notice it wasn't even bad for the reputation of the plantation Dems. Like, it was just an enjoyable return on the free shit delusion.

Patrick says

SEC chair Gary Gensler is under scrutiny over his failure to prevent the implosion of FTX

I'm mostly curious now about the raft of the burned investors and their retaliations. If they screwed enough dynastics out of enough geld, there will be heads on pikes at the palace gates. Not out of morality or ethics or law, just pure old fashioned revenge.
It's already in court, so private settlements to avoid discovery are too late.

https://spectatorworld.com/topic/sam-bankman-fried-scam-woke-capitalism/

For anyone seeking direct proof that woke capitalism is nothing but a scam, look no further than Sam Bankman-Fried, founder and former CEO of the now bankrupt crypto exchange FTX, who says as much in a direct message exchange with Vox reporter Kelsey Piper. He calls “ethics” a “dumb game we woke Westerners play” — presumably to avoid any scrutiny from journalists, employees, investors and consumers.

I’ve worked for and with these people for decades. They want to convince you and the employees in their company that they are in it out of the goodness of their philanthropic hearts. They are just trying to make the world a better place, you see.

In reality, today’s very trendy woke capitalists assume the pose of do-gooders while filling their bank accounts with outsized wealth. And the world is charmed by their charade, which not only allows them to get away with fraud and theft, but prompts cheering from those whom they are stealing from. It’s quite the trick! ...

A few examples...

Satanic inversions galore. Always lead with a nominally virtue signaling, altruistic grabber when you are planning to rob, pillage, steal, violate laws, destroy rights, or commit an audacious crime for profit.

Of course, this has Intel agency finger prints all over it.

"Winthrop, can we engage the spawns of a few dynastics to front our money laundering scheme? We'll garnish it with all that fake professorial shit and legerdemain. Thanks so much, talk soon. See you at Skull and Bones." "Oh, yes, it includes a 'get out of jail free' card for them. We wouldn't want our precious to go the way of the standard useful idiots."

https://slaynews.com/news/ftx-ceo-donated-300k-members-committee-investigating-him/

FTX CEO Donated $300K to Members of Committee Investigating Him

The CEO of FTX reportedly donated $300,000 to Democrat members of the U.S. House committee that is investigating his recently collapsed fraudulent cryptocurrency exchange.

CEO and co-founder Sam Bankman-Fried has been accused of running a money laundering operation that used cryptocurrency to funnel taxpayer funds into the campaigns and pockets of Democrats.

As Slay News reported, Bankman-Fried admitted that FTX was used as a laundromat for the Ukraine government.

Meanwhile, the company was pumping “clean” money back to Democrats, with Bankman-Fried himself being on record as the Democratic Party’s second-largest donor after George Soros. ...

However, as Slay News reported, FTX is being investigated by House Financial Services Committee which is chaired by Bankman-Fried-linked Democrat Rep. Maxine Waters (D-CA).

Waters announced Friday that her Committee will hold hearings on FTX in December, just before Republicans take control of the House.

Major concerns are now being raised about the legitimacy of the investigation due to much of the scandal pointing to Democrats.

Waters herself also has a close relationship with Bankman-Fried.

In December 2021, Bankman-Fried and five other cryptocurrency exchange executives testified before Waters’ House Financial Services Committee.

At the end of the hearing, a video shows Waters blowing a kiss to As Bankman-Fried as he was leaving the room.

This does not seem like Enron as far as fake valuations and shell companies. It sounds like the accounting was fraudulent to cover up embezzlement.

I think FTX was a straight-up Ponzi scheme, protected by donations to Democrats.

Patrick says

I think FTX was a straight-up Ponzi scheme, protected by donations to Democrats.

This is like Madoff's scheme. But I did read that a review or audit uncovered recently a $1 billion transfer or loan to its CEO Bankman-Fried.

Madoff though didn't give protection money to the Democrats.

.

.

ad says

Madoff though didn't give protection money to the Democrats.

Sure about that? Remember, Madoff only got caught when the Ponzi collapsed, just like what is happening now to FTX.

Patrick says

https://drpanda.substack.com/p/bankrupt-cryptocurrency-exchange

Bankrupt Cryptocurrency Exchange Funded Fake Ivermectin Studies
FTX funded studies (using depositors' assets) falsely claiming hydroxychloroquine, ivermectin weren't effective Covid treatments.

In other words FTX is a Globalist tool that funded the 'TOGETHER Trial' to discredit Ivermectin. The study was published in the New England Journal of Medicine (NEJM) and declared Ivermectin to be ineffective.

Except Ivermectin wipes out Covid in zero flat and thus far we have 187 medical studies (138 peer reviewed, 93 comparing treatment and control groups) proving this very fact.

Right now Ivermectin is available over the counter in Tennessee. See also worldwide:




Question: "Did FTX steal crypto investors’ money to fund corrupt studies like the TOGETHER Trial?"

Answer: Yes!

More here: https://nexusnewsfeed.com/article/geopolitics/deep-state-money-supply-ftx-the-collapsed-crypto-exchange-funded-the-together-trial-to-discredit-ivermectin/

The_Deplorable

FTX funded the post-Greenwald Globalist Intercept

https://twitter.com/BobBish40288847/status/1591835076505264129

Bob Bishop
@BobBish40288847
Replying to
@bennyjohnson
Sam Bankman-Fried admits that FTX is a crypto laundromat for the Ukrainian government.

We see the Intel agency Ponzi laundering and ripoff scam run directly with cooperation of the SEC. Regulatory capture wiping its ass with the law, foxes in the henhouse.
Neocons are milking and bilking the taxpayers to support criminal enterprises in Ukraine and their puppet politicians in USA.

https://www.washingtonpost.com/health/2022/11/16/sam-bankman-fried-ftx-pandemic-prevention/

Before FTX collapse, founder poured millions into pandemic prevention

By which they mean forced vaxxing with penalties of firing, expulsion, and blocking travel for refusal.

https://boriquagato.substack.com/p/sbf-wef-and-the-mile-of-red-yarn

SBF, WEF, and the mile of red yarn
every time you think you've seen the bottom of the FTX rabbithole, the bottom drops out again

so, sam bankman fried, who funded (among god knows what else) several “public health” studies smearing ivermectin and promoting “biosafety” and “pandemic preparedness” despite having literally zero grounding or seeming prior interest in the field

https://brownstone.org/articles/covid-crypto-connection-ftx-and-sbf/

https://www.reuters.com/technology/crypto-lender-genesis-says-no-plans-file-bankruptcy-imminently-2022-11-21/

FTX was run as 'personal fiefdom,' faces hacks, missing assets, attorneys say

An attorney also said the firm had been run as a "personal fiefdom" of Bankman-Fried with $300 million spent on real estate such as homes and vacation properties for senior staff. FTX, led since the bankruptcy filing by new CEO John Ray, has accused Bankman-Fried of working with Bahamian regulators to "undermine" the U.S. bankruptcy case and shift assets overseas. ...

Reuters earlier reported that Bankman-Fried's FTX, his parents and senior executives of the failed cryptocurrency exchange bought at least 19 properties worth nearly $121 million in the Bahamas over the past two years, official property records show.

The CEO gave free money to the Democrats.

Does anyone think for a moment that there will be charges that stick filed?

Misc says

The CEO gave free money to the Democrats.

Does anyone think for a moment that there will be charges that stick filed?

Unless he stole money from rich Jewish people, like Bernie Madoff did, nothing is going to happen to him.

FTX Is Allowed to Hide the Identity of Its 50 Biggest Creditors

https://www.cointime.com/flash-news/ftx-is-allowed-to-hide-the-identity-of-its-50-biggest-creditors-24015

https://kunstler.com/clusterfuck-nation/the-solemn-stillness-before-winter/

In the dramatic demise of FTX, the self-styled crypto-currency-exchange, all the nefarious connections between the great ills of our time stand out starkly in a sudden, glaring light, namely: the dubious Covid-19 pandemic and all the punitive measures cooked up by officialdom, with help from FTX’s money, to supposedly combat the virus, especially the deadly mRNA “vaccines” still being pushed on a credulous public; the sinister operations of so-called hedge funds and their role in magically levitating the financial markets of an economy foundering on necrotizing malinvestments and debt that can never be paid; and the Satanic endeavors of a political faction, the Democratic Party of Chaos, in subverting every institution from sea to shining sea from schools, to courts, to elections while shoving the US into a land war in Europe.

A few weeks after the FTX breakdown, and the extrinsic cascading failures around the crypto-currency netherworld, spreading wildly through pension funds, banks, and insurance companies, the great stillness of November also blankets the regulatory apparatus supposedly guarding the public from financial fraud — most conspicuously the head of the Securities and Exchange Commission, Gary Gensler, a Dutch uncle in the Bankman-Fried extended clan. ...

This shakeout will all occur against the background of the now-unraveled Covid-19 story. By early 2023 the evidence of excess all-causes deaths and disabilities resulting from Pfizer and Moderna shots will be overwhelming and the nation will know it got played by a scheme between the corrupt public health authorities, the pharma companies, and the corporate medical establishment, including its discredited journals. Nobody in America will ever trust a doctor again.

We’ll also probably know a good deal more about the dark and dirty deeds around the 2022 midterm election as the FTX scandal spools out and the probably hundreds of millions of FTX investors’ dollars that were express-delivered into Democratic Party coffers for ballot harvesting operations are revealed, along with the exact methods used to accomplish the mega-fraud.

Anxious Ethereum Stakers Question When They’ll Be Able to Access Funds

https://www.coindesk.com/tech/2022/11/23/anxious-ethereum-stakers-question-when-theyll-be-able-to-access-funds/

https://brownstone.org/articles/covid-crypto-connection-ftx-and-sbf/

Aseries of revealing texts and tweets by Sam Bankman-Fried, the disgraced CEO of FTX, the once high-flying but now belly-up crypto exchange, had the following to say about his image as a do-gooder: it is a “dumb game we woke westerners play where we say all the right shibboleths and so everyone likes us.”

Very interesting. He had the whole game going: a vegan worried about climate change, supports every manner of justice (racial, social, environmental) except that which is coming for him, and shells out millions to worthy charities associated with the left. He also bought plenty of access and protection in D.C., enough to make his shady company the toast of the town.

As part of the mix, there is this thing called pandemic planning. We should know what that is by now: it means you can’t be in charge of your life because there are bad viruses out there. As bizarre as it seems, and for reasons that are still not entirely clear, favoring lockdowns, masks, and vaccine passports became part of the woke ideological stew.

Interesting commentary by Juan O Savin. To summarize, 1. Bitcoin was a DARPA project, just like Facebook. 2. John McAfee said that whenever he was contracted to create security software, the government came to him and hooliganized him to put back doors in everything for them. He did so, but also used the back doors to seed computers into the government and collect reams of information. McAfee's so called 'dead man's switch' pegs the release of this information to crypto values as they exceed certain thresholds. 3. Crypto exchanges were created by Intels specifically for the purpose of creating Ponzis related to fiat speculative increases in crypto values. 4. Crypto exchanges were built specifically for laundering money and disguising the trail of black bag operations, election fraud etc., boomarang bribes etc. etc. 5. Without fiat speculative increases to disguise the Ponzi schemes, the crypto exchanges collapse, as with FTX leaving the low tide of flipping fish and old tires and fleeced investors behind. 6. The McAfee situation puts the Intels 'between a rock and a hard place' situation where all the McAfee information will be revealed if they Ponzi the speculative value of the crypto exchanges. If they DON't Ponzi the speculative value of the crypto exchanges, the exchanges collapse like FTX with the reveal of their true nature and purpose. FTX is the first collapse but won't be the last.

I guess they didn't blow up an entire condo building in Miami where McAfee owned a condo and claimed he had backups for a reason. They are seriously afraid of whatever it was that McAfee recorded and threatens to reveal.

If you don't think that cryptos were created by baleful Intel agencies with back doors and ripcord to empty your accounts summarily, at this point, if you keep investing, than you may deserve what you get.

https://notthebee.com/article/anyone-wanna-explain-to-me-why-weirdo-bankrupt-cryptocurrency-behemoth-ftx-poured-nearly-12-million-into-this-tiny-little-bank-in-middle-of-nowhere-washington-state

EBGuy says

FTX logo being removed from Memorial Stadium at UC Berkeley...

That's pretty serious.

Democrats usually ignore corruption by other Democrats.

https://patrick.net/post/1345018/2022-05-08-selective-justice-thread?start=-1#last

https://slaynews.com/news/biden-admin-unable-account-20-billion-us-aid-sent-ukraine/

Another one bites the dust...
Crypto lender BlockFi was taken down by exposure to FTX and Alameda Research, the latter of which defaulted on $680 million of collateralized loan obligations, according to a bankruptcy filing.

https://legalinsurrection.com/2022/11/why-hasnt-crypto-scammer-and-dem-donor-sam-bankman-fried-been-arrested/

EBGuy says

Another one bites the dust...
Crypto lender BlockFi was taken down by exposure to FTX and Alameda Research, the latter of which defaulted on $680 million of collateralized loan obligations, according to a bankruptcy filing.

I wonder how many more companies file bankruptcy because of bad loans to or dealings with FTX.

.

I'm waiting for the scalded cat yowling of the creditors and burned investors. What about all those celebrity and political advertising public endorsements? Bernie Madoff never had those, he strictly worked the crowd and the celebrity circuit.

https://roundingtheearth.substack.com/p/gut-of-ftx-reviews-are-in-from-zerohedge

https://freebeacon.com/democrats/sam-bankman-fried-analysis/