Posted on 12/17/2022 5:26:09 AM PST by MtnClimber
When it comes to burning through other people’s money, it turns out that SBF is a rank amateur.
Sam Bankman-Fried was shuffled off to his new digs in the Bahamas, where it seems likely that he will be spending a great deal of time. That his “mortal coil” might be shuffled off as well is an open question in the era of Jeffrey Epstein.
Who are the bigger fraudsters, though? A spoiled kid who bilked his investors for billions or a bureaucracy that prints and spends public money with reckless abandon?
It would take an eternity for SBF to graduate to the level of these government and quasi-government scammers. At the time of his bankruptcy filing, FTX’s liabilities were in the neighborhood of ten to fifty billion dollars. Compare that to the greater than $31 trillion in debt the U.S. government has rung up. That’s a big number. Though the current administration is not solely responsible for the dismal debt situation in which we now find ourselves, it has significantly accelerated the death spiral.
Imagine how footloose and fancy-free Sam would have been if he could have employed the same debt deferment plan as the U.S. government and the Federal Reserve. Printing money is a great way to bolster your financial situation. We could all be quite wealthy if that method of alleviating debt were widely available.
Unfortunately for us, only the feds can utilize the benefits of the printing press. If anyone else wants to try that route, they would quickly find themselves in the cell next to SBF because, of course, if everyone suddenly became wealthy, the economy would crash overnight.
(Excerpt) Read more at americanthinker.com ...
I wonder if politicians see themselves this way?
Great question. I think that many of them do, and are proud of it.. (little boy with his hand in the cookie jar type glee).
If a bank robber gave the stolen money to his friends before he got caught would those identifiable friends be required to return the money to the bank? Just wondering.
SBF was a front man for someone else like Soros.
Legally, the government cannot spend money not raised by taxes or borrowing. When Obama became President, the Federal Reserve began a practice called ‘quantitative easing’, in which the Federal Reserve would purchase Treasury debt and put money into circulation. This is ‘just printing money’ in all but name. It’s like being a little bit pregnant. This has facilitated a literally exponential explosion in Federal debt since 2008, when it was already bad enough, and, under Biden, created levels of inflation not seen since the 1970’s.
SBF was no more a front man for Soros than was Madoff or Ponzi. He was just another low-rent huckster who took in gullible fools.
SBF does not have the brains to create this scheme.
If you look at the MO, it parallels Soros.
SBF came from good stock. Say what you will, you don’t get to be a Stanford law professor, or in his case MIT graduate, if you are a total idiot. He apparently knew how to talk the talk and walk the walk. Ponzi exuded charm and Madoff exploited affinity group trust. SBF was a minor epigone of Carlo Ponzi.
Cryptocurrency is the tulip bulb craze of the 21st Century. (Gamestop was a sideshow.)
The Biden Crime Family must be getting their cut.
SBF was the front man for the US government and Ukraine.
Protection of this level of corruption is why the entire cabal threw every kitchen sink in the galaxy at Trump rather than just patting him on the head and waiting it out. Not just to keep him from running again but as a clear warning to anybody who might follow in his footsteps
And the Democrat Party
Yes. The evil Dems.
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