The Lunatic Fringe - Market and Trade Chat

Voodoo

Big Eyed Bug
GIM2 Refugee
Messages
461
Reaction score
577
Points
173
Location
Deep Underground Bunker
FTX has ensured that the next 'hard money' rush will be a gold (& silver) rush. With gold stock values as they are setups don't get better than this. Gold is close to hay making season. ---> JMO 2c worth, take it, leave it.... DYODD etc.

It's clear that cyrpto took a Good chunk of investment money the last 10 years from Gold and Silver. I think that was on purpose after TPB realized what crypto could do for them and it would also help supress Gold and Silver. Just leaves us with an explosive situation.

BUT for the love of GOD learn from crypts.... IF you don't hold it you DON"T own it.
 

JayDubya

Predaceous Stink Bug
GIM2 Refugee
Messages
103
Reaction score
307
Points
143

New FTX Boss Condemns Management of the Crypto Exchange During Sam Bankman-Fried's Tenure​

Sam Bankman-Fried's unconventional style is under the spotlight as bankruptcy professionals pore over the FTX collapse.

New FTX CEO John J. Ray III issued a scathing assessment of "unprecedented" poor management practices by his predecessor, Sam Bankman-Fried, in a series of filings in a Delaware court.

Ray, who has previously supervised financial scandals such as Enron, criticized poor record-keeping and lack of experience among senior managers.

"Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here," Ray said in a filing. "From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented."

https://www.coindesk.com/business/2...to-exchange-during-sam-bankman-frieds-tenure/
 

JayDubya

Predaceous Stink Bug
GIM2 Refugee
Messages
103
Reaction score
307
Points
143

Fed Forced To Use Negative Liabilities​

By Daniel R. Amerman, CFA

Can a loss be declared to be a gain? Is it legal to declare that the worse the losses - the greater the assets that are created from the losses?

For most of us, we would be charged with fraud if we attempted to do this. However, if the entity is the Federal Reserve - then the answer is yes. (It helps the books to make the rules that govern the books.)

The Federal Reserve is in a new kind of trouble, and for the first time it is now resorting to what could be called a hall of smoke and mirrors, where reality itself is inverted, and losses can be turned into supposed "assets" that are expressed in the form of literal negative liabilities on the balance sheet. Because this reality is the basis for our money and our financial system, that means we are all traveling down this new rabbit hole together.

Most people think they know what money is. Most of them are wrong....

Remainder of article at link:
http://danielamerman.com/va/ccc/K1NegLia1.html
 

Lancers32

Often Wrong Never In Doubt
Messages
527
Reaction score
751
Points
173
So you want to play Bitcoin and KYC is out. It appears as if GBTC will be out too since from what I read they could be in trouble too. Seems like the Bitcoin miners are the only way to play it. I have heard MARA might be in trouble the only other one with at least some volume is Riot. What do the lunatics think about this. Bitcoin 8 10 12K. Who knows? Should be a good play when the time comes I don't think Bitcoin is going away this smells like a massive bear trap coming.
 

pmbug

Your Host
Administrator
Messages
8,754
Reaction score
1,755
Points
268
Location
Texas
Seems to be coming from all quarters...

No doubt in my mind that central banks all over are going to create and push CBDCs. They have all have projects right now testing and developing them. The only real question is whether people will accept and use them.
 

savvydon

Fly on the Wall
Messages
9
Reaction score
28
Points
13
No doubt in my mind that central banks all over are going to create and push CBDCs. They have all have projects right now testing and developing them. The only real question is whether people will accept and use them.
They will create an environment that will make it so the average Joe has little choice, and doesn't see much utility in swimming against the current. 2c
 
Top Bottom