by Chris Black
Every exchange is fraudulent. They are all backed by nothing.
@Binance #Binance #FTX“This is the direct result of a rogue actor breaking every single basic rule of fiscal responsibility” – Patrick Hillmann, Binance's chief of strategy. Binance needs to be scrutinized – wayy too much effort trying to convince us they're the good guys.
— The Red Pill (@lliP_deR_ehT) November 11, 2022
They all use rehypothecated funds and allow multiple claims on singular assets.
Of course this is nothing new.
It is the same story at every bank.
Your digital ledger says you have money in your account, which it isn’t backed by real cash.
The Great Ponzi of Wall Street turns bankrupt corporations into trillion dollars behemoths.
As long as you don’t want to take your money out, they’ll let you believe you are rich.
They always claim Wall Street is forward thinking, looking to where the economy will be in six months to gauge the value of stocks.
What a load of BS.
Wall Street only looks at the current millisecond because of HFT.
The real economy and world events mean nothing.
The real situation on the ground is Great Depression.
People are living in a fantasy land attempting to be oblivious because they don’t want to admit the truth.
Inflation is moderating?
Not when a small box of corn flakes costs $6. I saw a family size you used to be able to buy for $4 priced at $10. Sure, 7.8% inflation.
Maybe in the top-off of Nancy’s fake tits.
At least fake tits have a purpose…