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Is the Crypto Ponzi Scheme Finally Coming to an End?

Three years ago, in early November of 2022, one of the largest financial scams of all time was unfolding when the equivalent of a “bank run” happened when the crypto exchange FTX saw $6 billion of withdrawals in a 72-hour span. Many investors,  including Blackrock and celebrity athletes such as Stephen Curry and Tom Brady, lost hundreds of millions of dollars almost overnight. Billionaire Sam Bankman-Fried, who was ranked the 41st-richest American in the Forbes 400, saw his fortune evaporate almost overnight, and now sits in a federal prison serving out his 25-year criminal conviction for fraud. Further reporting about Sam Bankman-Fried and FTX claimed massive corruption with things like money laundering occurring in Ukraine, as well as the lavish lifestyle of Sam Bankman-Fried and his FTX cohorts participating in sexual orgies. When this happened three years ago, Big Tech was in a free fall laying off hundreds of thousands of employees. Tesla was facing a U.S. criminal probe, and many of the giant automakers, such as Ford and Volkswagen, cut off funding for their "autonomous" self-driving vehicles. I was calling this major downturn in Big Tech investing back then as the Big Tech Crash of 2022. But a couple of weeks after the fall of FTX, something happened to direct the public's attention away from this massive corruption in Crypto Land: the release of OpenAI's ChatGPT via Microsoft, which quickly became the most downloaded app in history, and launched the current AI Bubble in spending. There were still what appeared to be some ripple effects of the great FTX crash in 2022 in March of 2023, when several Big Tech banks, such as Silicon Valley bank, failed due to bank runs. Today, some Wall Street analysts are apparently beginning to see the realities of the crypto financial world, and are sounding the alarm. They are saying that crypto currencies' best days may now be behind us. David Weidner of MarketWatch reminds us that many investors today are "are young and inexperienced," and that they "listen to confident voices" on social media too much.

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Biden’s DOJ Arrests Bankman-Fried in Unprecedented Move to Prevent Him from Incriminating Himself Before Congress

Within one day the entire narrative surrounding the downfall of Billionaire Crypto King Sam Bankman-Fried has gone from "why hasn't this guy been arrested yet," to "what is the government afraid he is going to reveal?" Who all is this guy connected to, and just how far does the corruption spread? Yesterday, one day before he was scheduled to appear in Congress before Maxine Waters, the DOJ issued an arrest warrant and authorities in the Bahamas, finally, arrested Bankman-Fried. But now he can't testify before Congress. According to criminal defense attorney Jonathan Turley, this is unprecedented. Never before has the plaintiff in a criminal case, in this case the U.S. Department of Justice, intervened to prevent a defendant from testifying before Congress where he would have undoubtedly incriminated himself and made their case a slam dunk. I think this bizarre story has now gone from "will he be arrested" to "will he be suicided away, like Jeffrey Epstein, to protect the guilty?"

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FTX Created Money Out of Thin Air Like the Federal Reserve – NYSE Crash Will be Next After U.S. Banks Fail

Pam Martens of Wall Street On Parade exposed in her column today how the FTX crypto exchange, which is now bankrupt because too many people tried to withdraw their funds at the same time exposing how it was all a big Ponzi scheme, operated the same way as the Federal Reserve does in printing money out of thin air. What does this mean? It means that U.S. banks are just as guilty in running a fraudulent Ponzi scheme as FTX, and that we are just one bank run away where too many people try to withdraw their funds all at the same time where the entire U.S. financial system will collapse. Meanwhile, across the pond over in Europe, German authorities are actually planning for bank runs and social unrest as they face blackouts this winter, which would prevent people from being able to withdraw their money in a society that values cash and privacy. The entire world is about to find out just how fragile the technology is, where all it takes to bring down the entire system is to pull the plug on its energy source, electricity. 

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The Religion of the Technocrats is Failing, as is Their Technology

As I noted in my article about the demise of self-driving vehicles, the faith in artificial intelligence is crashing down to reality, as investors in the technology find out the hard way that computers just cannot do all the things that the techno-prophecies have claimed. This was exposed in a recently published Bloomberg article quite eloquently by publishing quotes from Anthony Levandowski, the engineer who created the model for self-driving vehicle research and was, for more than a decade, "the field’s biggest star." So strong was his belief in artificial intelligence, that he literally started a new religion worshiping it called "The Way of the Future" Church. But after several years of waiting for the AI messiah to arrive and start replacing humans, his faith was shattered. Fast forward now 5 years later where AI cannot even figure out how to make a left turn in normal traffic, and these AI believers are quickly abandoning the faith, and starting to understand the limitations of computers.

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Sam Bankman-Fried Bought Into Stakeholder Capitalism And Proved It’s A Disastrous Ideology

While many analysts and economists will be talking for months about the epic downfall of crypto-exchange company FTX and its founder Sam Bankman-Fried, their focus will be primarily on the billions lost, the mismanagement of funds, the fraud inherent in yield farming and the alleged betrayal of investor trust.  This is a tale as old as time and not anything surprising. What many in the mainstream are missing, though, is Fried's attachments to the World Economic Foundation, various global elitists and his avid sermonizing of the tenets of “effective altruism”, which are nearly identical to the tenets of Klaus Schwab's Stakeholder Capitalism agenda. The WEF lists FTX as a corporate “partner” and participant, which means the company must meet the globalist organization's standards for Stakeholder Capitalism, a socialist economic model which deconstructs the Adam Smith and Milton Friedman free market foundation.

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Here Are All The Funds That Are About To Lose $BILLIONS In FTX

Now that the world's largest crypto exchange, Binance, has walked away from a bailout of world's second-largest crypto exchange, FTX, but biggest ever crypto fraud - far bigger than MtGOX ever was, here is a list of all the "luminary" investors whose money in FTX is now gone... all gone.

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