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FTX In A Nutshell


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2022 Nov 14, 6:25am   9,773 views  232 comments

by cisTits   ➕follow (4)   💰tip ($0.37 in tips)  

https://doomberg.substack.com/p/poof-of-work




Some questions: will US taxpayers money or Fed fraud money be used to bail these idiots out? Why were regulated entities like pension funds and insurance companies 'investing' in this crap in the fist place?

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108   Patrick   2022 Nov 23, 10:33am  

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.
110   Patrick   2022 Nov 23, 6:18pm  

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.
115   Ceffer   2022 Nov 27, 12:15pm  

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.
117   Patrick   2022 Nov 28, 1:13pm  

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
119   EBGuy   2022 Nov 28, 3:47pm  

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.
121   ad   2022 Nov 28, 7:33pm  

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.

.
122   Ceffer   2022 Nov 28, 7:51pm  

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.
125   Ceffer   2022 Nov 28, 11:14pm  

Sand Hill Road in Palo Alto (supposedly where all the angel capitalist/ venture capitalists nest) should be re-named "DARPA Spook Hill Road". It seems a large part of these entities' job is to find these morally bereft dynastic but politically connected kids, and decide who fits the best profile for fronting their surveillance and fraud store fronts. None of these pups had the organizational skills, raw developed money, intellectual chops (even if they were nominally smart for young people) or maturity at their ages to float these enterprises without being Intel sock puppets. As the punctured mythologies turn out, Facebook always was a billion dollar DARPA project devised for suckering people into self surveillance and handed to ZuckFuck to virtue signal its benign intentions. I guess they thought they could repeat the formula with Bankman et. alia. to keep those money laundering tasks and political bribes afloat using crypto.

"Effective Altruism", is an academy training sociopaths and psychopaths in the finer acting points of public virtue signaling, in order to keep clouds of deluded useful idiots afloat during the scams and to create a kissy face for the public. As can be seen, classic Satanic inversion.

Of course, Bankman publicly mocked the virtue signaling, just as Zuckerberg berated Facebook users as idiots and suckers.
126   HeadSet   2022 Nov 29, 8:29am  

ad says

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

Enough to cause a 1929 moment?
127   Patrick   2022 Nov 29, 12:54pm  

https://www.wsj.com/livecoverage/stock-market-news-today-11-28-2022/card/ftx-spending-spree-included-offers-to-washington-advocacy-groups-2V3bmXZVna1H5IdC29Ye


Nov 28, 2022 at 3:45 pm ET
FTX Spending Spree Included Offers to Washington Advocacy Groups
By Paul Kiernan
FTX’s full-court press to influence policy makers in Washington included offers of funding for progressive advocacy groups.

In November 2021, FTX founder Sam Bankman-Fried donated $100,000 to the Center for American Progress, a liberal group founded by former Clinton administration chief of staff John Podesta, its spokeswoman said.


Paywall, but at least we see this much for free.
128   richwicks   2022 Nov 29, 11:04pm  

HeadSet says

Enough to cause a 1929 moment?


Nothing can cause that, they will just devalue the dollar and print more money.
130   Ceffer   2022 Nov 30, 1:53pm  

I'm beginning to think DARPA with the fading of Facebook is going to turn increasingly to boiler room pump and dump schemes like FTX to perform targeted crimes and conspiracies, which will then be detonated.

Dynastic sock puppets (virtue signaling with the pretense of innocent geniuses, just a bit misguided), is the front for giving them immunity for their participation. Who wouldn't want an all expense paid vacation to the Bahamas for years to drug 'n fuck with abandon with shitloads of money to mess around with.

SBF of course will still wind up wealthy after this as a commission, likely in one of the non extraditable domains waiting for another puppet President to pardon him (or social amnesia). With the SEC chairman a co-conspirator and a corrupt DOJ, he doesn't seem to have a lot to worry about except from his enraged, burned investors.
131   EBGuy   2022 Nov 30, 3:02pm  

Release the Kraken
Crypto exchange Kraken, the second largest in the U.S., is laying off 1,100 employees, or 30 percent of its workforce, its co-founder Jesse Powell said in a statement on Wednesday.
Citing “macroeconomic and geopolitical factors have weighed on financial markets,” Powell said the company’s downsizing is a correction of growth from the prior year, when cryptocurrency prices soared and prospects for the industry appeared much brighter than today.
133   Patrick   2022 Dec 2, 12:58pm  

https://nymag.com/intelligencer/2022/12/why-hasnt-sam-bankman-fried-been-arrested-yet.html


Why Hasn’t Sam Bankman-Fried Been Arrested Yet?


Duh:


Tom Fitton
@TomFitton
Nov 12
While the Biden gang has been harassing and threatening @ElonMusk and his companies, one of the worst scams in modern finance was being perpetuated under their nose by a regular WH/Hill visitor and the second biggest Democratic donor.

Elon Musk
@elonmusk
Nov 13
Replying to @TomFitton
SBF was a major Dem donor, so no investigation
Nov 13, 2022 · 3:56 PM UTC


134   DhammaStep   2022 Dec 2, 12:59pm  

Wasn't sure where to put this one, so here will have to do.
135   Patrick   2022 Dec 3, 10:54am  



Confirmed real:

https://nitter.pussthecat.org/WillManidis/status/1598328748767674368#m

(Elon's response a bit down the page)
140   Blue   2022 Dec 4, 11:55am  

Did anyone watched his interview with George Stephanopoulos. Everything is scripted by DNC and an army of their lawyers.
143   ad   2022 Dec 4, 12:56pm  

144   Ceffer   2022 Dec 4, 1:43pm  

LOL! Bitcoin explained. To pull a grift, you have to show money to the greedy to scam them.

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