Yes, I watched the appalling scenes of Mike Bankman-Fried’s media tour. He or she repeatedly returns to the theme of his philanthropy: outbreak planning.
What does this 30-year-old computer guy know about infectious illness? No more than Bill Gates did when he began his malanthropic crusade through the universities, periodicals, and nonprofits and enforced his lockdown-and-vaccinate ideology in it, thus compromising a whole era of infectious-disease scientists.
Bankman-Fried saw how much impact this bought Gates and decided to replicate the experience in a mere few years in the midst of a pandemic. As we’ve documented , he gave millions but promised billions. The promise tends to be even more effective than money in the bank. All the better, he supported his “ pandemic planning” support with $40 million (Elon Musk speculates it had been far more) for politicians who shared his expected passion to control infectious condition.
Therefore Sam of FTX, exactly who seems to have stolen and otherwise misdirected billions from their own crypto scam, was asked to speak at a New York Times event called Dealbook. A seat in the audience cost $2, 400. He previously been booked for the show long before because he was a darling of the left, having thrown around many millions in order to back Democrats in the midterms.
He or she was also loved for running the second-largest crypto trade in the world while babbling left-wing prattle about effective auism. He advertised himself as the world’s most generous billionaire at a mere 30 years previous! He urged others to complete the same, giving to their brother’s charity devoted to outbreak planning, just as an example.
With his disheveled look and halting talk patterns, he struck numerous as a genius. One would have to let go of all normal intuition to believe that, but here is where we are today.
The interview pitched a series of softball questions with the mask of a tough interrogation. Bankman-Fried replied using a bunch of financial-sounding mumbo large that the interviewer could not really follow, so of course he gave him a complete. In the end, the interviewer as well as the audience gave the robber a round of applause for his frank solutions and accessibility.
Sam claimed that will his lawyers advised from this particular appearance. I don’t think it. I suspect that his lawyers understand something extremely dark about our times. If you can bamboozle an audience at the Ny Times , you endure a better chance of favorable therapy in a court of law. That’s why he is continuing their media rounds. Hey, why don’t you enjoy a speaking tour to boot?
How do Bankman-Fried justify himself? Basically he said that he had downplayed the downside risks in a probable bear market in which their tokens suddenly lost 90% of their value. He had not anticipated this. And, this individual seemed to imply, had the financial markets not changed direction, their company would be solvent. Hence, none of this is really their fault. It’s just what happens when the market winds change course.
In contrast, Bernie Madoff’s scam had been rather simple. He used the money of new investors to pay a return to old investors. He gradually came to realize that he had better success in business in this way than relying on market energies themselves. By offering a predictable 9 percent return, he could always attract brand new money in up markets or even down markets. In a sense he was right: his Ponzi scheme lasted 20 years!
When the housing business crashed and the money dried up, and he could no longer find new chumps to pay the old chumps, he admitted this. He said he lied and that he was running a scam. He pled accountable, went to jail, and passed away. One son killed themselves and the other died. His widow today lives a modest life, still reeling from the horribleness of it all.
Sam’s scheme was far more complex. It involved mixing funds over a huge range of companies which he owned, so his own exchange had an open spigot of customer funds going to his own Alameda Research, which would make use of those funds to buy the particular token FTT in which client funds were held. It was the same scam as Madoff but tokenized in a planet that has stupidly come to believe that anyone can create a thing associated with value with a few clicks of the mouse and some incantations of the word blockchain .
Crucially, Bankman-Fried paid off all the right individuals along the way. He paid nonprofits, media companies, and political figures, and made all the correct noises about the need to manage the industry more than is currently the case. As a result, his media darling status persists even now, as the New York Periods and MSNBC work hard daily to rehabilitate him, despite his not being able to account for some 20 dollars billion in missing funds.
Within the dystopian novel and film The Craving for food Games , the elites have divided society in to many districts depending on their particular function and economic status. Only District One truly lives well, and here you find the greatest champions of the program, which is kept alive by means of top-down tyranny. The video games themselves are designed to shore upward regime stability by necessitating random sacrifices of the lives of kids forced in to a zero-sum game of murder.
Everything looks implausible on very first viewing. How could the richest of the rich sit by and watch, cheering with this blood-thirsty tragedy? On 2nd thought, the whole thing is wholly believable. Elites socialize themselves to believe whatever it is that will protects their wealth plus status. That’s exactly why such a large crowd of people gathered at the Ny Times to watch the validation and vindication of Sam, and they gladly cheered his fake honesty and transparency at the end.
The display was disgusting but completely predictable if you understand something about how our own hunger games are played. In this 10 years and a half of easy cash, a whole class of people has risen to the top of the social echelon not by successful labor but by educational credentials and being section of the corporate float. They have visit believe that the system makes sense simply because it has benefited them.
This is why they will so gladly took to outbreak controls when they were from their height. They would “ stay home and stay safe” while the proletariat slogged with the streets carrying dinners in bags to drop off from doorsteps. In some extremely unusual way, this felt like the utopia for the upper lessons. This – and 10 dollars trillion to back the entire scheme – is why the lockdowns lasted so long as they did.
We are nowhere close to getting to the bottom of the whole scam. SBF gave thousands away to all sorts of institutions while marketing his grift as auism. He later admitted that his fake-woke philosophizing was nothing but a cover, as it is for all these people, which is why his admission didn’t actually disqualify him from carried on membership in the class of media and business elites.
Absolutely nothing exposes the economic plus financial hypocrisies of our time as much as this FTX caper. We can report some good news nevertheless: it is not long for the world. Elon Musk is demonstrating what sort of competent leader can take over the single company, fire 75 percent of its employees, make the platform work better than ever, and still possibly make a profit. For the sake of world, let us hope that the Musk model will inspire a lot of coming corporate upheavals.
District One needs to be thoroughly cleansed and the sooner the better. The cleaning fire in our times takes the most implausible form you can imagine: positive real rates of interest. If the Fed sticks to its agenda – and it likely will – we will have every manner of upheaval coming in the next six months. The courtroom dockets will become even more complete than they currently are, and there won’t be sufficient investigators available to unravel this particular and so many other scandals of our times.