Crypto Currency Crash Continues, Fools Lose Money Like Mad, Of Course

 

 

https://japantoday.com/category/tech/crypto-clients-beg-for-their-cash-back-after-lender’s-crash

 

Eventually, all ‘crypto currencies’ will go belly up.  This is fake money for doing frauds.  It has near zero economic power, it is pure theft.  People buy it hoping other fools will pay even more for it but it has been falling for many, many months now and more and more fake money is going under.  The holders of this trash hope to prop it up and find new young fools to fool.  But this is harder and harder to do with inflation making money worth less as governments screw up money systems, too.  You need a fundamental basis like crops or energy or skills to make ‘money’ valuable.

 

When the Roman Empire fell, gold ceased to buy much of anything so the Church used it for fancy gowns and lovely churches and gold was hoarded not traded and if used, was used to buy things from China.  Even that fell apart by 600 AD.  Money was worthless because there was little to no government.  If you wanted something, you traded or you killed someone and stole whatever.  Simple.

 

Hundreds of letters have poured in to the judge overseeing the firm’s multi-billion-dollar bankruptcy and they are heavy with anger, shame, desperation and, frequently, regret.

 

They thought they found a magic money machine.  The machine produced nothing just IOUs, basically.  The ‘money’ vanished in a poof as it always does with crypto.  Since criminals are behind this crypto junk, this should surprise no one.

 

“I knew there were risks,” said a client whose letter was unsigned. “It seemed a worthwhile risk.”

 

All crooks offer something for nothing only the ‘nothing’ is what you get and they get the ‘something.’  DUH.  Good lord.

 

Celsius and its CEO Alex Mashinsky had billed the platform as a safe place for people to deposit their crypto currencies in exchange for high interest, while the firm lent out and invested those deposits.

 

They simply stole the money.

 

But as the value of highly volatile crypto currencies plummeted — bitcoin alone has shed over 60 percent since November — the firm faced mounting troubles until it froze withdrawals in mid-June.

 

No more money!  Fake or real!  This should surprise no one, of course.

 

The company owed $4.7 billion to its users, according to a court filing earlier this month, and the endgame is unclear.

 

The ‘end game’ is crystal clear: there are no assets so there is no ‘money’ to be generated now.  It came from nothing and returned to its natural state: nothing.  Sheesh.

 

 

Hacker steal $200 billion from a crypto crypt.  These thefts happen frequently.  Using real money to buy fake money in order to hope the fake money becomes ‘popular’ with other idiots is backfiring badly as the ‘value’ of this fake money is falling rapidly.  Enough idiots want to buy something that has zero natural value and is backed by nothing so it became ‘valuable’ for a while until the number of fools was at highest level, most of these are young people with no idea how the real world works over time.

 

It doesn’t help that liberals who are equally careless and stupid, when in power, destroy currencies via wild spending on ‘socialist’ goodies that makes everyone poorer over time.

 

China is saber rattling like crazy now as the Pelosi visit irritates the communists.  Since nearly everyone is terrified of irritating the communist Chinese, we have endless bellowing about how we will suffer if we don’t make communists in China happy again.  Well, to hell with them all!  Standing strong works, surrendering doesn’t work.

 

 

If China ceases to sell to the US, China, which is in serious financial troubles, will go bankrupt.  This is the deal we have with them at this point, something I was against for years and years.  As always, inflation hits everyone in various ways.  Over time, people change gears to reflect this.  I remember the 1970’s inflation.

 

I could buy properties for very little and when interest rates fell again, I could sell these for a 100 to 500% profit!  The pain today can be goodies tomorrow if someone is smart.  Climate changes to a colder climate leads to these same problems.  I remember the 1970’s!  Our government and mainstream media have been most anxious to erase that decade, both the weather and the political messes back then.  But I remember.

 

The present attempt at a global depression is due entirely to the Bilderberg gang’s Zero Energy program.  They are very anxious to make life hell for everyone else.  This business about ‘saving the earth’ is by people who are mass killers like Hitler or Mao.  They hate humans and think they are exempt from the ‘to be eliminated’ numbers which is false.

 

Here is yet another story about how stupid we are thanks to our leaders being stupid.  Illegal aliens steal millions of dollars worth of catalytic converters from Texas vehicles: https://www.foxnews.com/us/houston-police-busts-catalytic-converter-theft-ring-million-stolen-goods-guns

 

The monthslong investigation stemmed from the death of Harris County Sheriff’s Deputy Darren Almendarez, who was shot while trying to stop thieves from stealing his catalytic converter, according to Immigration and Customs Enforcement (ICE).  The individuals arrested for their alleged role in the theft ring were Houston residents Jose Martinez, 19; Armando Martinez, 18; Isaac Castillo, 21; Terance Elder, 20, Armando Martinez Sr., 39, and Dayton resident Jose Sanchez, 21.

 

What a shock.  Illegal aliens stealing everything.  DUH.  Arrest Biden and  his entire crew and the top DNC and a number of GOP who want illegal aliens invading.  This is how ROME FELL, damn it.  Doesn’t anyone read ancient history???

 

17 Comments

Filed under .money matters

17 responses to “Crypto Currency Crash Continues, Fools Lose Money Like Mad, Of Course

  1. lou

    They hate humans and think they are exempt from the ‘to be eliminated’ numbers which is false. [not if the avoid the jab].

    from someone elses post, here,

    More and more, it’s looking like one of the goals of this thing was depopulation. Not so much adults, but they are looking to “immunize” children against sycytin, required for placenta formation. The effect of it will not be observed until they reach child-bearing age

  2. Zeke

    Elaine,

    You were never wavering right all along about “cryptocurrency “.

    Kudos.

  3. Zeke

    lou is a Luddite anti-science troll.

  4. qbutnoa

    Football: taking the knee to stop due to the sheer amount of abuse and ridicule the players receive (it is very unpopular). https://www.bbc.co.uk/sport/football/62404611

  5. Jim R

    “crash” … let’s look at some historical predictions.

    May 2017:
    https://emsnews.wordpress.com/2017/05/22/bitcoin-bubble-one-of-stupidest-in-history-it-isnt-even-a-tulip-flower-bulb/

    Bitcoin Blasts Through $2200, Here’s Why | Zero Hedge as excited believers in this ‘crypto currency’ made out of thin air and backed by absolutely nothing…is a classic bubble fad item. Anything can have this sort of bubble. People sitting on bitcoin ‘savings’ will figure they are millionaires and will hold until…it collapses.

    August 2022:
    23087.78 right now

    … so if I bought in May 2017 and sold now, I would have multiplied my stake by more than 10.

    Full disclosure: I am currently a nocoiner. . . and this comment is not advice.

  6. lou

    a simple explanation about whats going on in Europe,

  7. lou

    Eventually, all ‘crypto currencies’ will go belly up…because the gov –banks —–trillionaires will bring in CBDCs, which Id guess has always been ‘the plan’..all numbered to buy and sell.

    so Elaine is right but only sees part of the plan.

  8. lou

    the jap link resulst in — A 404 ERROR OCCURRED
    Page not found.

  9. Jim R

    #7 lou,

    It isn’t Putin wrecking the economy — Europe is doing this to itself.

    They wouldn’t even have to pay in Rubles, but they threw a hissy fit and banned Russia from trading in Euros. Also, the big Siemens turbine that moves the gas — Germany and Canada collaborated to prevent its return to Russia after a periodic round of maintenance. … and a bunch of other stuff

  10. Zeke

    The “Blame America First” crowd has a home here.

    And love for murderous anti-democracy tyrant Putin.

    International Crimes Against Humanity with a smirk.

  11. here we go again , in your face cheating !

    ”Mail ballots favored Robson, but Lake overwhelmingly won polling place votes. Ballots left to count are mainly mail ballots turned in at the polls on Tuesday, including 125,000 from Maricopa County, which includes Phoenix”.

  12. Zeke

    The Grifter tried to preemptively discredit everything as “a hoax” and “fake news”.

    His dim witted sycophants loved it.

    Other than it looks like he’s either melting or dying, a more apt chant would be “Lock him up”.

    He did fulfill his Inaugural speech of “American Carnage”.

    One person did so much damage in just four years.

    Putin is smiling.

  13. JSmith

    “Crypto” is just another bunch of guys who hate the ‘gubmint’.
    Oh, by the way… your boy Alex Jones is in the process of getting his ass handed to him, and DoJ looks like it’s getting closer and closer to donnie dump. Li’l donnie forgot to pardon himself when he had the ability to do it.

  14. Fools are easily fooled.

    Alex Jones is nutty but our PRESIDENT is nutty and insane and a child molester. How many ‘liberals’ are outraged?

    ZERO. Case closed.

  15. lou

    J Smith, that is a huge generalization. Did you read the above? ponzi.
    Mr Saylor built a multi billion dollar biz and he was fooled.
    if he were to buy, now would be the time and dont take loans to do so,

    https://finance.yahoo.com/news/michael-saylor-microstrategy-ceo-bitcoin-204325431.html

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s