FAKE Finance FAKE Money

It's coincidence or synchronicity that these two articles landed on my digital desk at the same time.

First, The Jacobin sees the crypto universe as an giant Ponzi scheme:

The author goes into excellent detail about how Tether, a stablecoin 'pegged' to the dollar that is only backed by maybe 3% actual U.S. dollars.  As Tether is the main medium of exchange connecting the crypto universe to the dollar universe, if it ever implodes the entire house of crypto cards implodes as well.  I recommend the article.

However, like all leftist writers, there is an odd bit of cognitive dissonance between the leftist love of a beneficent government, and distaste for private fraud.  The Jacobin author shills for gov't regulation, yet avoiding the fact that that selfsame gov't, the System, and its regulators, are up to their eyeballs in the same Ponzi sham fakery that the Tether / Crypto bros are up to.  Because of this you get weasel word sentences like this one:

"Regulators and policymakers have been slow to protect the public. Ponzi schemes can remain solvent for years while flying under the radar of law enforcement and regulators. Madoff ran his hedge fund as a Ponzi for at least seventeen years. While the Securities and Exchange Commission (SEC) failed to heed multiple warnings from an industry whistleblower for seven years, regulators acted quickly once Madoff was turned in by his own children."

"...acted quickly..."  

After you read No One Would Listen, by Harry Markopolos, you will know that it was 10 years, possibly 12, and the SEC regulators were handed Madoff on a silver platter at least 5 times by Markopolos, yet did nothing.  Markopolos began sending the SEC irrefutable, incriminating information on Madoff anonymously because he was being threatened, followed, and harassed.  Still, the SEC did nothing.  Then the Housing Crisis hit, and people began asking for redemptions, and the money wasn't there.  This hardly qualifies as 'quickly'.

Yes, Madoff was "turned in by his own children" because they were involved in the Ponzi and were being threatened with prison.  One of his son's fingerprints were all over the financial alchemy that was The Madoff Fund.

But the Jacobin writer wants crypto and Tether regulated, so he has to avoid the obvious disconnect.

But Quoth the Raven doesn't have to avoid it at all:

QTR manhandles the Elite Laptop Class and the gov't with rhetorical atom bombs like this:

"For years, politicians and central bankers have been relying on flawed monetary policy to try and endlessly appease their constituents with promises of grandeur and excess while they pull the strings on a system that socializes losses and privatizes profits for the elites.

They’ve done this with success, subtly sending the message that “everything is always going to be okay, so no one needs to ever question authority or the powers that be”.

Monetary policy has worked splendidly for the elites and central planners over the last few decades and, while it has resulted in a wider gap between the lower and upper class than we’ve seen in 50 years and a country that is nearly at civil war with itself, the harrowing machinations of the monetary motor have all happened behind the curtain, under the cloak of night. This has allowed the elites and central planners to side-step responsibility for 50 years worth of gripes and misfortunes, while being able to point to the stock market to try and convince the populace that things aren’t as bad as they seem.

But this time, things are definitely as bad as they seem - and everybody understands it."

Radically different in approach, Jacobin and QTR arrive at the same conclusion.  The Fakery is at incredible levels.  Real assets, commodities, community, neighborliness, self-defense; these are things that are more necessary now than ever before.

As QTR pointed out, Crypto has ironically awoken the masses to the fiat currency Ponzi that the Federal Reserve has created these past 100 plus years.  People now say "fiat currency" reflexively, whereas 15 years ago you got funny looks if you said it that way.

Jacobin's point about Tether is well taken.  As someone tangentially connected to the Crypto universe, I took much of that article seriously.  Real Leftists have a tripwire sensitivity to Organized Power.  Sohale Mortazavi, the magazine article's author nails it by saying the Tether / Crypto system is corrupt to the core.

Both authors are right.  The New World Order is on the march.  I suggest you get out of the way.

Remember, this is a 'conspiracy theory', even though you can find video of this exact quote, as well as printed evidence.

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