SBF and CZ have both been sued, with SBF going to prison and CZ paying massive fines. They were leaders of promoting crypto currencies through FTX and Binance, respectively. FTX is finished and Binance may be on its last legs. Will crypto survive the hype?
On November 24, 2002, The Observer and The Guardian published Osama bin Laden’s letter to the American people. Yesterday, November 15, 2023, the letter went viral and The Guardian removed the document. Luckily Bryn Mawr College published the letter. The following is the text of the letter and an introduction to the text.
If the three biggest buyers of US Treasury debt, the Federal Reserve, the Japanese, and the Chinese, are all selling Treasury debt, then who is buying Treasury debt? For now, it appears to be the Reverse Repo market. However, with only $1 trillion left in the Reverse Repo Market, the interest on the federal debt nearing $1 trillion annually, and $8 trillion of the $33 trillion of federal debt maturing next year, how long until the Fed has to turn around and act as the lender of last resort?
Citizens Bank, out of Sac City, Iowa was about to default on November 3, so the Federal Deposit and Insurance Company (FDIC) helped the Iowa Trust & Savings Bank bail them out. That same day, depositors couldn’t deposit money into Bank of America, US Bank, Chase Bank, Wells Fargo, and Truist Bank. They, therefore, couldn’t use that money. Considering the bank bailouts earlier in the year, is the banking system walking into a bank run?
The Japanese Yen, the Treasury, and the Fed, are all indicating that everything is about to get more expensive in America (inflation). A turning point will come when enough people figure that out and dump their dollars for anything else. Then, we’ll have hyperinflation.
Supporters of Israel and Palestine have the same message to American Christians: The side that doesn't eat pork, isn't Christian, and is comprised of Semites must be financially supported or the other side that doesn't eat pork, isn't Christian, and is comprised of Semites will win.
According to dictionary.com, arbitrage is “the simultaneous purchase and sale of the same securities, commodities, or foreign exchange in different markets to profit from unequal prices.” Over the past two weeks, the price of gold in Shanghai, China has been selling at ~$2,000, which is about $100 higher than the spot price at $1,900. This is not common. That means that people could be buying gold in the West and selling it in the East at a profit, moving gold to China. He who has the gold makes the rules. The world speaks English for a reason.
The Canadian Parliament, including Prime Minister Justin Trudeau, gave a standing ovation for a Ukrainian member of the Waffen SS, an elite military unit fighting for the NAZIs in World War II, while Jewish Ukrainian President Zelensky visited on Friday, September 22, 2023. Justin Trudeau and his like have been calling Candadians NAZIs for opposing the covid lockdowns. Maxime Bernier, Canadian politician and founder of the People’s Party of Canada had some pointed comments.
Recently, Democratic nominee for the Governor of the great state of Mississippi, Brandon Presley, said that he would get rid of the good ole boys’ club. He may want to check his notes, because Democrats had run the state until a little over a decade ago. They are the good ole boys’ club.
“And they don’t think you know but I know that you do.
Because your dollar aint shit and it’s taxed to no end,
‘Cause of rich men North of Richmond.”
The Chinese shadow banking sector and property market are imploding. Zhongrong missed payments and Evergrande finally declared bankruptcy. Many rich Chinese will seek British tax-havens, which are probably the source of much shadow banking funding. The sun has not yet set on the British Empire.
Blowback is a term that refers to the negative reaction by people to government policy. For decades, China has been syphoning business from Western countries who were escaping progressively increasing taxes and regulations. This growth legitimized the Chinese Communist Party (CCP) after the failure of the Great Leap Forward. However, this boom is ending, notably with the covid lockdowns, imploding property market, failing banks, and historic floods. As the Chinese people are impoverished, Chinese politicians will experience blowback by losing popularity, which could result in another Chinese warlord period as local officials fill the power vacuum.
Banks are supposed to have money. Starting in March (a year after the Federal Reserve began raising interest rates), the banks Silicon Valley Bank, Signature Bank, Credit Suisse, and First Republic were bought and bailed out. On July 25, the Banc of California bought out Pacific Western Bank. What do banks own if they need money?
“When France sneezes, Europe catches a cold.”
-Prince Klemens von Metternich, Austrian foreign minister (1809-1848) and Chancellor (1821-1848). Ousted from power by the Spring Revolutions of 1848.
“I believe very sincerely that the CIA is correct when they teach and talk about blowback.” -Ron Paul, Fox Republican Presidential Primary Debate, January 10, 2008.
The USA have nearly $32 trillion in debt. The only way to settle the debt is by printing money or by default.. The dollar is being progressively ditched as the world’s reserve currency as its purchasing powers decreases with every dollar printed. Either via inflation or default, the dollar’s days are numbered.
The United States’ Securities and Exchange Commission (SEC) is suing Binance and Coinbase for fraud. Both companies are crypto trading websites, which means that cryptos may lose customers.
We fix immigration by requiring anyone wanting to move here to memorize the Bill of Rights and to sign a contract with a citizen who would be liable for their crimes and debts. Apply the 13th Amendment to anyone who stays illegally after a relatively short transition period.
China and Zimbabwe are both offering bank accounts using gold as money, or, at least, redeemable as gold.
First Republic Bank was bailed out by the FDIC (backed by the Federal Reserve) and bought by JP Morgan. Treasury Secretary Janet Yellen said that the USA would default on the first of June if the USA do not add more to the federal debt. Federal Reserve Chairman Jerome Powell is suppressing interest rates from rising to their free market levels on Wednesday.
