Posted on 11/20/2022 11:04:02 AM PST by Kaiser8408a
As Meryl Steep said in Death Becomes Her, “NOW a warning??”
Joe Biden Leads ‘Critical’ Call For Game-Changing, Global Bitcoin And Crypto Rules After Shock FTX Collapse. After Sam Bankman-Fried helped Democrats avoid a red wave. NOW a warning??
The chaos created by Sam Bankman-Fried (FTX Crypto Exchange) and Alameda Research (SBF’s hedge fund) will go down in history as one of the biggest scams. And should earn a top spot on Phil Hall’s 100 Years Of Wall Street Crooks.
Sam Bankman-Fried’s bankrupt crypto empire owes its 50 biggest unsecured creditors a total of $3.1 billion, new court papers show, with a pair of customers owed more than $200 million each.
The case is FTX Trading Ltd., 22-11068, U.S. Bankruptcy Court for the District of Delaware.
And then this headline from the Wall Street Journal: FTX’s Sam Bankman-Fried Cashed Out $300 Million During Funding Spree.
On top of that, SBF is attempting to raise MORE money. The question is … who would be dumb enough to listen to SBF?
Crytpo continue to fall as investor confidence in crytpo has waned since SBF’s fraud was exposed. (In SBF’s defense, I am sure that current House Financial Services committee Chair Maxine Waters will declare he is a victim of changing market conditions, not historically massive fraud and political influence pedaling).
Didn’t SBF or his Alameda Research girlfriend Caroline Ellison look at Bitcoin as inflation roared under Biden and Fed started to remove its epic monetary stimulus? Or did any of the investors or their representatives bother to look at the books of FTX or Alameda Research??
I have the sneaking suspicion that Caroline Ellison or some other little fish will take the fall for SBF’s fraud. SBF has bought-off too many politicians.
NOW a warning from Biden??
Sam Bankman-Fried’s magical election elixir.
(Excerpt) Read more at confoundedinterest.net ...
She’s in Hong Kong and there’s no extradition treaty with the US.
We need a single global currency and one government! That’s the ticket! /s
Demonocrat business as usual.
Commit a crime, then pass laws to punish the people who didn’t do it.
If I was a conspiracy theorist, I would think this was deliberate to usher in a global, centralized digital currency.
And now you know why people buried gold and silver coins
Ban it. What value is it?
Crypto Ping List
This has always been the biggest threat to crypto
Sound exchange regulations would be OK. Just get it out of the way.
It’s a scam, Jim.
It should be treated as the fraud it is
I think there is also talk of an issue with “Tether”?
This is beyond my knowledge base.
[Another must-read excerpt from Kunstler’s new “Smoldering Fuse” column.]
https://kunstler.com/clusterfuck-nation/a-smoldering-fuse/
The Bankman-Fried extended family 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 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.
[much more at link]
Sultry wood nymphs don’t so we’ll in prison
You are 100% correct that is the outcome..
Yup. I think the entire global economy is really nothing like it appears to be. There is a lot of fraud and a lot of dark money and it's propped up in all kinds of ways which don't look like it's propping anything at all (ex. Send money to Ukraine because Russia invaded, but the money is really for FTX, but the money is really so that Republicans and Democrats in the US can elect people who are not MAGA. I mean: not obvious that that is what's going on, but that's what's going on.)
At some point, it will all switch over to a central digital system and it will already be so deeply entrenched that fighting it will be impossible.
What’s the big deal? It was nothing more than a simple ponzi scheme gone south. Happens all the time especially with our globalist masters and corrupt politicians.
Why would anyone give money to someone named Bankman-Fried especially when they see a picture of him
Good thing Sarbanes-Oxley was implemented to ensure that internal controls would reduce the chances of a bad credit risk customer taking advantage of bad credit policies to allow huge balances like this. Oh, wait......
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