I hope you listened…I have been warning you in really plain terms for four years that cryptocurrency is a complete hoax and something to stay far, far away from. Again, I hoped you listened.
Let’s start off with the easiest and most obvious…return on investment. When I started posting my articles about the sheer stupidity of cryptocurrency (2/2021) Bitcoin was hovering around $58,000…it’s now $16,450. Yeah, that means a 72% loss in less than 2 years. In June when I warned folks that they be prepared to lose all of their money, Bitcoin was $21,230…it’s now $16,450. Yeah, that means a 23% loss in just at 5 months. Let’s recap this for you…if you bought Bitcoin in February of 2021, as of today, Bitcoin would have to go up more than 350% for you to just break even.
How does that sound as a great investment!?!?
And please, don’t give me that crap about it being a currency…IT ISN’T! It is a barter/trade item like any commodity…an item/commodity with ZERO intrinsic value.
And please don’t give me that crap about it being super private and hidden from tracking, especially hidden from tracking by the government…IT ISN’T! The IRS has already admitted publicly that it tracks ALL cryptocurrency transactions and they know both the buyers and the sellers of each transaction. And if it supposedly can’t be tracked…then how are 100’s of millions of it stolen every year? Hummmmm????
And that now brings me to the “theft” aspect of this post…to the tune of billions of $’s of cryptocurrency…but it is even worse than that.
Let’s talk about “FTX” shall we…
FTX is a cryptocurrency exchange, third largest in the world. Meaning you can store your cryptocurrency there, trade among different cryptocurrencies, outright buy/sell your cryptocurrency, etc. Well, on 11/12 the new CEO of FTX said that effective immediately the company was turning off the ability of customers to trade or withdraw funds from their accounts. Why?
That is where it gets interesting…but wait for the rest of the story…for now understand this…on Friday 11/12 then current CEO and founder, Sam Bankman-Fried, resigned. Why did he resign? Maybe it had to do with FTX filing bankruptcy earlier that day. Why did FTX file bankruptcy? Maybe it had to do with billions of $’s (yes, BILLIONS) missing from FTX accounts.
But wait…early analysis shows that approximately $633million went missing (i.e. stolen) from FTX accounts as FTX was filing for bankruptcy on Friday. But wait…total stolen/missing funds from FTX are estimated to be as much as $10 – $50 BILLION dollars!!
And amazingly enough…none of the pre-bankruptcy leadership can’t be found anywhere. Imagine that!
Could it get any worse? Of course it could…and does!
Sam Bankman-Fried, the FTX CEO who resigned last Friday, and who is currently missing, donated about $40,000,000 (40 million $’s) to the Democrats for the 2022 mid-term elections. Total combined donations could hit $100million from those associated with Bankman-Fried. And there are substantial reports that he personally had pledged $1BILLION to the Democrats for the 2024 presidential elections. And of course Bankman-Fried was one of the top 3 donors to the Democrats for the 2020 presidential election.
Let’s add one more wrinkle to this evil…
Sam Bankman-Fried was a personal friend of both the Clintons and the Bidens. And Hillary Clinton and Joe Biden were both big supporters of, and directly involved in, overthrowing the Ukrainian government some 8 years ago. And yup, you guessed it, there is also a link between FTX and the current Ukraine government (the same government that Clinton/Biden put into power) since their war with Russia broke out. It appears that US aid dollars that were sent to Ukraine got placed with FTX…then FTX donated heavily to the Democrats for the 2022 mid-term elections,, and the Ukraine account at FTX is one of many accounts that is missing funds. And many of those donated dollars ended up directly back into the pockets of…wait for it…Bidens & Clintons among other Democrats.
And folks…this is just scratching the surface of what was and is going on with cryptocurrency.
I hope you listened. Cryptocurrency isn’t just a scam, it is outright fraud, it is outright political evil…and it is dangerous…more so than many have any concept of.
Related Articles –
- The Future…as of 1/10/2019
- SitRep – 5/3/2021 (Summary)
- Time to write about crypto-currency!
- SitRep – 1/18/2022
- SitRep – May 2022 (part #1 of 2)
- ! Warning ! “Be prepared to lose all your money in crypto!”
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