Share this page!

John E Deaton Profile picture
Twitter logo
14 Feb, 4 tweets, 2 min read
WHY #BITCOIN & CRYPTOCURRENCIES MAKE SENSE TODAY
Just how much is a Trillion Dollars? Let me try and place it in perspective. A trillion dollars is thrown around today like a billion dollars was thrown around 15 years ago and like a million dollars was thrown around 30 years ago.
The first 200 years of the USA’s existence 🇺🇸 we printed ONE TRILLION DOLLARS. In 2020 we printed NINE TRILLION. 22% of the circulating USD was printed in 2020. Politicians today throw out the TRILLION DOLLAR figure like its nothing (or just like they used to do with a MILLION).
But have you actually ever tried to figure out, just how much ONE TRILLION DOLLARS really is? I’m not sure who said it but if you take the historically recognized date of the death of Jesus Christ and you calculate ONE MILLION DOLLARS PER DAY EVERY DAY UNTIL TODAY, it will not
equal ONE TRILLION DOLLARS. Do the math. 1,795 years X 365 days per year (you can even include leap years) X $1 million. The figure DOES NOT equal $1 Trillion. And today the U.S. Federal Government Debt is $28 Trillion.

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with John E Deaton

John E Deaton Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @JohnEDeaton1

John E Deaton Profile picture
15 Feb
WHY THE SEC v. RIPPLE CASE IS THE MOST SIGNIFICANT @SEC_Enforcement CASE IN MODERN HISTORY: Part 1

In 1946 the U.S. Supreme Court handed down the seminole case of SEC v. Howey. For 75 years that case has basically set the standard in determining what constitutes a security.
The underlying asset in Howey was orange groves. The groves were plots of land that were sold to tourists. The investors purchased the lots of land, but also paid the seller money to manage the orange groves. The seller would plant the seeds, water the trees, harvest the
oranges and then sell the oranges to people and places, and the investors would share in the profits. The Supreme Court laid out a four-factor test that is now called the Howey Test in deciding whether an asset is an investment contract - also known as a security. The Howey Test
Read 25 tweets
John E Deaton Profile picture
13 Feb
WHAT IS A CONTINGENT SETTLEMENT OFFER MEAN IN THE SEC vs RIPPLE CASE?
First, in order to understand, think about a criminal case for a minute. Let’s say the defendant is facing 25 years to life for attempted murder. A contingent plea bargain can be made by his defense attorney
to the prosecutor. The defense attorney could inform the prosecutor that the defendant will plead guilty contingent on the prosecutor agreeing that he will not have to serve more than 5 years in prison. If the prosecutor agrees, there is a deal and the defendant pleads guilty.
This type of plea bargain or settlement happens all the time. If it didn’t, the criminal justice system would come to a screeching halt. Both sides get certainty, and, arguably, justice take place. In the civil courts it’s not called a plea bargain, but, instead, it’s called a
Read 10 tweets
John E Deaton Profile picture
13 Feb
Things that make you go 🤔

I’m about to make a few hour drive, so I can’t give my two cents but I will. I’m sure others will as well.
Short version Gary Gensler may literally be the tie breaking vote.
Read 4 tweets
John E Deaton Profile picture
6 Feb
RIPPLE’S DUE PROCESS CLAIM:
In @Ripple’s Answer it asserted a defense that the SEC should be barred from claiming #XRP is a security today because it violates Due Process and principles of Fair Notice. Previously, I discussed a similar concept called the doctrine of equitable
estoppel. I explained the law protects a party from being harmed by another party's voluntary conduct. That conduct may be ACTIONS, INACTION, SILENCE, or ACQUIESCENCE. Although the SEC never declared XRP a non-security, for EIGHT YEARS it openly traded in unison with #ETH and
#BTC. During this time, some from the SEC, including Clayton, commented that #BTC and/or #ETH were not securities. For 8 years the SEC’s actions, inaction, silence and acquiescence implied that XRP was also NOT a security. Let’s review a few of the SEC’s actions, inaction,
Read 25 tweets
John E Deaton Profile picture
4 Feb
Yesterday I tweeted this debacle with NFCU and Schwab. Before I knew that NFCU was tying up my money, I had written a second check from my Schwab
Account to my NFCU. I told Schwab to stop payment on the second check. NFCU yesterday finally credited my account with the money
from the first check. I woke up this morning and the money was gone. I called NFCU and they informed me that because I stopped payment on the second check they froze my money from the first check. When I asked why they informed me that it was due to suspicious activity. These are
checks form me to me and I’m the only owner of both accounts. I asked where was the money and I was told it’s confidential and the information can’t be released to protect the consumer. I said “I’m the f’g consumer and you won’t release confidential information about me to me
Read 4 tweets
John E Deaton Profile picture
4 Feb
Let me also share my other experience with traditional banking today. I just tried to link my TD bank account to my @UpholdInc account. Then I tried to link my @coinbase account. Last year I was able to link my TD checking account to these exchanges. I deleted it and linked a
different account about 6 months ago. This time, however, TD automatically blocked me from linking the account. I called TD Support and explained the situation. The representative BEGAN READING A DISCLAIMER WARNING ABOUT HOW THE BANKS HAVE SHIFTED RECENTLY TO NOT SUPPORT LINKING
ACCOUNTS BECAUSE CRYPTOCURRENCIES ARE USED FOR MONEY LAUNDERING, DRUGS, ILLEGAL GAMBLING AND OTHER ILLICIT ACTIVITIES. I began laughing out loud and asked “are you actually reading a script to me?” He told me that he has been getting this same type of phone call about 12 times a
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @JohnEDeaton1 has new unrolls!

Check out other threads from @JohnEDeaton1!

Read all threads by @JohnEDeaton1