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Bitcoin & Omers, CDPQ, CPPIB


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  • 3 weeks later...

How will this end? Has the US federal government become a Ponzi scheme?

====

Harper wisely said that Americans will figure out a way. But at over 150% of GDP, I wonder how.

Huh? Japan's government debt is well over 200% of GDP.

(Because of Harper, Trudeau Jnr's spending means we're still below 100%.)

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In macroeconomic theory, if the growth of government debt is greater than real GDP growth, it's a Ponzi scheme.

-The government is borrowing faster than the economy can generate tax revenues.

-But wait. The government never dies. For you on the right or left, think: the State never dies.

====

As I always say, whether in Japan, Russia or Canada, it is not how the government/State pays - whether my credit card, debit card, my name on a loan - what's the difference? No difference.

It is what the government bureaucrat politician buys.

Edited by August1991
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Okay August, riddle me this:

Russia and China have both been hoarding like trailer park trash.  Now Israel, as of Last month, has also started hoarding gold bullion like they know something’s up.  Germany, France, Italy, Venezuela, Switzerland and Turkey have been going hard at gold in the last several years.

At what point does an alert person catch on that something bad may be on the horizon?

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  • 1 month later...
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Since this thread is supposed to be about Bitcoins, etc, I suppose a certain hack theft should be noted.  On top of the fact that Bitcoin is now around 16k after falling from a high of over 60k last November.  A 75% drop in a year.

Anyway, here’s the theft:

https://www.coindesk.com/policy/2022/11/12/ftx-ceo-john-ray-confirms-late-night-hack-says-company-is-working-with-law-enforcement/?outputType=amp
 

Crypto exchange FTX’s new CEO, John Ray, took to Twitter Saturday to confirm that FTX, which filed for bankruptcy protection on Friday and its U.S. subsidiary, FTX US, were hacked last night in an attack that drained hundreds of millions of dollars in crypto out of the exchanges’ wallets.

 

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45 minutes ago, sharkman said:

Update on the hack.  1 billion disappeared.  Banks appear to be on the hook.  People like you and me reporting that their CC transactions are being refused and others saying their savings account now says zero.

Monday will be interesting.

I see no connection between some crypto funds stolen from a platform and my credit card or savings account.

Why would you be posting this type of nonsense?  To get everyone excited?

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36 minutes ago, cougar said:

I see no connection between some crypto funds stolen from a platform and my credit card or savings account.

Why would you be posting this type of nonsense?  To get everyone excited?

Because people with credit cards and savings accounts are reporting that experience.  I could have added that this is in the US, with its much different banking system.  But people did have their crypto accounts drained and or locked out.  
 

This is a significant event…

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On 11/12/2022 at 9:15 PM, sharkman said:

Because people with credit cards and savings accounts are reporting that experience.  I could have added that this is in the US, with its much different banking system.  But people did have their crypto accounts drained and or locked out.  
 

This is a significant event…

You were talking about "savings accounts" (presumably in USD or CAD), now you are telling me "crypto accounts".

Which one is it?  

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Why don’t you check into it yourself, don’t you have access to google?  It was both.  When corporations go bankrupt, assets get seized, including money.

So last July, Voyager Digital went bankrupt.  3 Arrows Did as well.  Now FTX has failed.  Then consider that Bitcoin’s stock was around $68,000 last November and is at 16,671 today.  It’s lost 75% of its value.

The word is that Ukraine was a big investor in FTX.  And FTX was a big donator to Dems in the midterms.  And guess where Ukraine got its money from?

The US government.

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  • 2 weeks later...

https://www.cnbc.com/2022/11/28/blockfi-files-for-bankruptcy-as-ftx-fallout-spreads.html
 

And another one bites the dust.
 

“Distressed crypto firm BlockFi has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of New Jersey following the implosion of putative acquirer FTX.

In the filing, the company indicated that it had more than 100,000 creditors, with liabilities and assets ranging from $1 billion to $10 billion.”

Have you ever heard the expression, never let a crisis go to waste?  Governments love them and look for the Biden Admin to bring regulations into the crypto currency markets.

 

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