Caroline (CEO of Alameda Research) has a tumblr account called "worldoptimization."
Her kink is men who control most major world governments, low risk aversion, responsible for important scientific discoveries
No kidding 😂
FTX had $1.4bn in BTC liabilities (~80k BTC) but didn't own a single #Bitcoin on their balance.
Yet, the BTC they "issued" absorbed buying pressure from real BTC as people trusted them, essentially expanding the M2 supply of BTC. FTX was a crypto central bank.
Essentially what’s needed going forward is #ProofOfReserves from every centralized crypto exchange or a crypto fund. If they don’t show their reserves, just treat them as scammers & fraudsters. There’s no more second chances in crypto.
Sam from FTX made a global impact for good alright… he woke every one in the world to take #ProofOfReserves seriously. If there is any centralized entity with out it, it’s a fraud 🤷♂️
Warren Buffett & Charlie Munger on crypto currencies in 2018.
Crypto attracts a lot of charlatans trading currencies and starting exchanges… it will end badly
Who knew… they were right 🤷♂️
#ProofOfReserves is a must for centralized entities handling crypto going forward. Even with proof of reserves, there are shady things happening behind the scenes like once you get a snapshot, moving funds to other exchanges for double counting.
Hong Kong based AAX crypto exchange today suddenly announced the suspension of all operations, including trading, withdrawals, etc - promise that they will try to restart everything in 7-10 days.
How to launder money 🤷♂️
How come all the corrupt scumbags care about the planet & humanity so much that they guard against pandemics, hurricanes to save y’all 😂
The acronym "DOGE" "Democrats Officially Getting Exposed." It is used to imply that the Department of Government Efficiency (DOGE), led by Elon Musk under the administration of President Donald Trump, is revealing or exposing alleged inefficiencies, fraud, and corruption supposedly linked to Democratic policies or government operations they've been in charge of or supported.
🚩Fraudulent Activities Uncovered by DOGE:
1. Improper Payments at the Treasury Department:
- DOGE has claimed that payment approval officers at the Treasury Department were instructed to approve payments indiscriminately, even to known fraudulent or terrorist groups.
2. USAID Operations:
- DOGE has been involved in the shutdown of the U.S. Agency for International Development (USAID), asserting that it is rife with fraud and waste. Specific claims include the agency funding projects like a DEI musical in Ireland and transgender opera in Colombia.
3. Access to Sensitive Government Systems:
- There are reports of DOGE gaining access to sensitive data, including Treasury payment systems, which could involve personal financial information of citizens.
4. Alleged Waste in Federal Spending:
- DOGE has announced savings, such as canceling over $1 billion in federal diversity, equity, and inclusion (DEI) contracts, suggesting these were wasteful or fraudulent expenditures.
5. General Claims of Fraud and Abuse:
- Broad assertions have been made by DOGE about uncovering "massive fraud, abuse, money laundering, and corruption" within government operations, though specifics beyond the above examples are less detailed in public reports.
The global financial system is extraordinarily sensitive to the pronouncements of the Federal Reserve's chief due to the pivotal role the U.S. dollar plays in international trade and finance. As the world's reserve currency, fluctuations in U.S. monetary policy directly influence global liquidity, interest rates, and economic stability. When the Fed chair speaks, whether it's about interest rate decisions, inflation targets, or economic outlooks, markets around the globe adjust in anticipation or reaction. Investors, from Wall Street to the smallest foreign exchange traders, scrutinize every word for hints of policy shifts that could affect asset valuations, currency strength, and investment strategies. This reliance stems from the understanding that changes in U.S. policy can ripple through economies worldwide, affecting everything from commodity prices to international borrowing costs.
This dependency is further amplified by the psychological impact of the Fed's statements. The markets operate on a blend of hard data and human emotion, where confidence or uncertainty can sway economic directions significantly. The Federal Reserve's chief, therefore, not only sets the tone for economic policy but also manages market psychology. A mere suggestion of tightening or easing monetary policy can lead to immediate market movements, as traders and investors adjust their portfolios to hedge against perceived risks or capitalize on new opportunities. This dynamic creates a self-fulfilling prophecy where the Fed's words can shape economic reality by influencing investor behavior, credit availability, and consumer confidence, often before any actual policy changes are enacted.
Moreover, the absence of a truly global monetary authority makes the Federal Reserve's chair one of the most influential figures in international finance. Other central banks and governments watch closely, often aligning their policies to mitigate or leverage the effects of U.S. monetary decisions. This isn't merely about following the dollar; it's about navigating the complex web of global economic interdependence where the U.S. economy, due to its size and influence, acts as a linchpin. The Fed's communication strategy, thus, becomes a critical tool not just for domestic policy but for global financial stability. This concentration of influence underscores a system where one person's words can dictate the financial health and economic direction of nations far beyond U.S. borders, highlighting our world's reliance on the Federal Reserve chief's rhetoric.
Here's why systems dominated by certain sectors might inherently fail to achieve broader societal goals:
🚩A Country Run by Banks Will Always Be in Debt:
- **Profit Over Stability:** Banks inherently aim to maximize profit, which often involves lending money and charging interest. This creates a cycle of perpetual debt for the state, as governments need to borrow to fund operations, infrastructure, and crises. The more debt there is, the more interest accumulates, ensuring that the debt never truly diminishes.
- **Economic Dependency:** By controlling financial policies, banks can dictate economic conditions that favor debt accumulation, like low interest rates that encourage borrowing or high inflation rates that devalue currency, increasing the nominal value of debt.
🚩Healthcare Run by Big Pharma Will Never Cure Disease:
- **Financial Incentives:** Curing diseases is less profitable than managing chronic conditions. Big Pharma benefits from long-term treatments where patients need continuous medication, rather than one-time cures which would eliminate future revenue from that ailment.
- **Research Focus:** The pharmaceutical industry's R&D is heavily influenced by potential market size and profitability rather than public health needs, often sidelining research into cures for less common or less profitable diseases.
- **Regulatory Influence:** Through lobbying, big pharma can influence regulations and drug approval processes to favor treatments that don't eradicate diseases but manage symptoms, thus ensuring sustained sales.
🚩A State Run by War Will Never Know Peace:
- **Perpetual Conflict:** Military-industrial complexes thrive on conflict. Wars justify defense budgets, contracts, and arms sales. Peace reduces these opportunities, hence there's an institutional bias towards maintaining some level of tension or conflict.
- **Political Power:** Military leaders or regimes often gain and retain power through war, making peace less appealing as it might lead to a reduction in their control or influence.
- **Economic Dependency:** Economies can become dependent on war industries for jobs and innovation, creating a cycle where peace is economically destabilizing.
🚩A Nation Run by Media Will Never Know the Truth:
- **Profit from Sensationalism:** Media outlets often prioritize sensational, controversial, or divisive content to attract viewership, which can distort facts or omit context for the sake of engagement.
- **Control Over Information:** Media conglomerates can influence public opinion by controlling what information is disseminated, how it's framed, or even by suppressing stories that don't align with their interests or those of their sponsors.
- **Bias and Agenda Setting:** Whether through political alignment, ownership biases, or advertiser influence, media can skew narratives away from objective truth towards narratives that benefit their agendas or maintain viewer loyalty.
In each case, the systemic incentives and structures prioritize outcomes that align with the dominant institution's interests rather than the public good or societal well-being.