FTX AND THE DOLLAR TRAP

For the past few years, Catherine Austin Fitts has been warning people about what she calls the "dollar trap," which basically amounts to a one-two punch. Punch one: extend easy credit or outright give away billions of dollars.  In other words, get entire regions or countries "hooked on" or addicted to dollars. Punch two: then, pull the plug, and suction out all those dollars, leaving the region or country in a bind, where it must conduct transactions in dollars, and does not have any.

She and I (and others) have also been warning about something else, namely, the typical modus operandi of Mr. Globaloney to "stack function" in an operation or scam, or as I call it, to carry out "multiple objective" operations, where several goals are met and fulfilled all in one fell swoop.

With those background thoughts in mind, consider this article about the recent FTX crypto-scandal and its collapse, shared by K.H.:

CryptoFanFic – Thoughts on FTX

Beyond the entirely apropos picture of Randolph and Mortimer Duke (Ralph Bellamy and Don Amice) from the hit movie Trading Places, and beyond the author's scathing words about the whole concept of crypto-"currency" (and one assumes, by extension, the idea of "digital cash"), sentiments with which, incidentally, I am in wholehearted agreement, the author has outlined a rather intriguing scenario behind FTX, one which intriguingly plays quite well into Ms. Fitts' "Dollar trap" scenario and into our idea of "multiple objective operations," or what she calls "stacked functions."

This is where FTX comes in:

What if FTX did not find itself in this situation by unfortunate circumstance?

What if it was built for this?

What if FTX was created to eat Ponzi schemes in the wild and deplete them of any actual cash they had?  Because the whole project was actually architected by those who don’t really believe in crypto?

It just had to survive long enough to eat all of the major Ponzis in the space.  Extracting all the cash and paving the way for regulatory pushback.

It would go something like this:
  • Create a crypto exchange
  • Become a market maker and mover
  • Pretend to be US compliant by having a placeholder US presence (FTX.us)
  • Maybe make a stablecoin (was in progress)
  • Definitely make a market traded token (FTT)
  • Liquify the token with dollars (USDT)
  • Target Ponzicoin projects with proven real world cash reserves
  • Advance them liquidity via FTT
  • Securitize the loans with their cash
  • Extend their runways, allowing them to keep aggregating cash
  • Wait for their collapse
  • Take their cash, book a loss
  • Repeat

Do this until you have wiped out all the major players and have set the stage for a changing of the guard.

This money eating machine was always destined to fail.  But so was the market it played in.  Perhaps the creators of FTX decided to roll up all the Ponzis in a giant mega-Ponzi and extract all the cash for as long as possible.

So far so good: as what ifs and high octane speculations go, it's as good as any: but it has only one goal or objective, namely, drain the crypto-world of its "liquidity". By this time, however, you're probably familiar with all those stories that have begun to circulate about how much of FTX's dollars came from "investments" in the Ukraine, and was then funneled back to the United States where it was exchanged for real dollars, which real dollars ended up being funneled to Democratic candidates in the recent (and in my opinion highly questionable) mid-term election. And lest we forget, the effort was entirely "bi-partisan", because some of that very same money apparently ended up in Senate Minority leader Mitch McConnell's (R Kentucky) warchest and went to support "non-MAGA" candidates.

So now look what we have:

  1. Billions of tax-payer dollars are given to the Ukraine;
  2. Those dollars are converted into crypto by and for FTX, whose founder is also calling for regulation;
  3. the crypto is converted back to dollars in the USA, thus locking the Ukraine into a dollar trap which sucks the dollars out of Europe too,
  4. thus laundering the money by giving it to the two political parties to support their candidates, neatly embroiling both in clearly questionable practice, and thus making it unlikely any real change in "the system" will be accomplished; all the while
  5. the new Republican-controlled US House of Misrepresentatives calls for an investigation of the Bai Den Jo regime, making it even less likely anything will be accomplished.

Consequently, look at the multiple goals of the op, as speculated upon in this blog:

  1. Crypto-currencies and the whole idea of a "cashless" economy are given a real (and quite deserved) bloody nose;
  2. The Ukraine is put into a dollar trap which is likely to suck even more dollars out of Europe at a time of European economic and financial weakness, thus binding it more securely to the American empire;
  3. The money given to the Ukraine is actually laundered back to the USA in the form of the crypto, which is recoverted into dollars, and "donated" by Bankman-Fraud (our nickname for FTX's founder) to the two political parties to
  4. stop the candidates of Orange Man Bad and fund yet another questionable election;
  5. and to involve both parties in further financial malfeasance making any real prosecution of the real perpetrators and government criminals unlikely.

Now, if that reading of things is anywhere close to the truth - and I suspect it is, unfortunately - then I strongly suspect that we've yet begun to see the amount of spin and nonsense that this story is going to generate... and, by the way, did we mention the Federal Reserve is rolling out a trial of its central bank digital currency?  That happened just shortly after the FTX scandal broke...

What does all of this add up to? Well, consider this: if FTX can go bankrupt so quickly, and in such a way that even a former Enron investigator is mystified as to the extent and nature of the fraud, if it can go bankrupt when its founder, Bankman-Fraud, is one of the very same crypto-"currency" advocates calling for "regulation" of cryptos, if it can go bankrupt, and engage in off-the-charts and clearly political money-laundering, then why on earth would you trust any central bank "digital 'currency'"?

See you on the flip side...

 

Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and "strange stuff". His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into "alternative history and science".

No Comments

  1. Laura on November 22, 2022 at 12:22 pm

    when I listen to people talk about cryptocurrency it seems I am hearing an obsessive attraction to an abstraction of hope that feels like a gambling addiction. a black hole waiting to happen.

    I did some research on what companies are creditors in the FTX bankruptcy. One report said Paradigm was a big investor. Here is how Paradigm describes itself:
    Paradigm is an investment firm focused on supporting the crypto/Web3 companies and protocols of tomorrow.
    Some of their investments:

    ArenaX Labs
    ArenaX Labs is the parent company of AI Arena, an Ethereum native game where players all over the world can purchase, train and battle NFT characters powered by artificial intelligence.

    BetDEX
    BetDEX combines blockchain technology with sports betting, with the aim of transforming the consumer sports betting experience.

    Blur
    Blur is an NFT marketplace for pro traders.

    Euler
    Euler is a capital-efficient permissionless lending protocol that helps users to earn interest on their crypto assets or hedge against volatile markets without the need for a trusted third party.

    The crypto ecosystem seems to be moving in the direction of peer to peer trading, gaming, gambling, and artificial intelligence experiences.

    As a consumer, none of this seems fun or interesting to me. And, none of it seems like productive work that improves the physical world.

    however, the concept of bridging the virtual and the real still seems compelling despite the crash of the exchanges.

    • Kahlypso1 on November 24, 2022 at 3:34 pm

      Nice timing on your reply. Lots of 22’s 🙂
      Paradigm shift, but nothing changes. Still wanting to control gambling, prostitution and payment.. sounds like a mafia, or a bank.

  2. Mary-Louise on November 21, 2022 at 9:56 pm

    LIEght World Order Q is resurfacing with their NESARA/GESARA chatter. If NESARA were to ever move forward which is rumored to be within a week (but by end of the year because the quantum system is allegedly ready), they would have to admit that Biden was never President. #ParisAgreement

    The first-paid farmers have been waiting for decades for NESARA to be paid from their federal court case.

    • anakephalaiosis on November 22, 2022 at 5:02 am

      Ancient Israelites declared all debts as null and void, every seventh year. Their antagonist, Moloch, promotes inherited enslavement, and empty promises of otherworldly resolution, by key master pontiff.

      When the seventh seal is broken, then the mind snare of Moloch has no longer hold on the mind. The agrarian idea of throwing off the burden, every seventh day, and seventh year, is contrary to Moloch.

      Moloch’s ban on Yahweh, as a word spoken, was an attempt, to remove the concept of having a regular jubilee, because the jubilee was a celebration, to set the enslaved free.

      Yahweh, as year woe, points towards annual celebration of freedom, at winter solstice temporal shift.

      Jim Henson:
      https://dl.dropboxusercontent.com/s/c9670bm8xtlvkok/midnight-places.mp4

      • anakephalaiosis on November 22, 2022 at 6:03 am

        YEAR WOE YAHWEH

        Israel looked towards high north,
        when feasting year’s birth,
        and slaves were free
        at jubilee,
        every seventh and so forth.

  3. marcos toledo on November 21, 2022 at 8:02 pm

    As I have written before, our elites make organized crime look respectable. But then again organized crime wouldn’t do these crimes they are too dangerous, to begin with, and could backfire on the creators. Well, clever criminals wouldn’t be too risky, they have no genuine cover.

  4. anakephalaiosis on November 21, 2022 at 7:44 pm

    Elohim-Yahweh is a rebus, and the year – as a phenomenon – is the solution, as the common denominator. It is a deliberate construction with a specific purpose.

    Ancient Israelites were raging against idolatry, from a clearly defined position, because – had their position been diffuse – idolatry would have become a grey zone.

    Today, when Ashtoreth’s prostitutes are promoting Moloch’s latest money scheme, Baalim’s bureaucrats follow blindly. That is Satan’s modus operandi.

    Pink elephants are at the liquor store, endorsing Antichrist:
    https://dl.dropboxusercontent.com/s/awbfi9lti5tw6w5/johnnie-walker.jpg

  5. Robert Barricklow on November 21, 2022 at 12:19 pm

    Looks pretty much just like the way Dr. Farrell describes it.

    The Republican theater, of investigating China Joe;
    will pretty much go as insiders have scripted.

    As will the 2024 [$]elections… ?

    Just type into “their” proprietary computers,
    the Stalin software results you want; and Viola!
    Your scripted News Headlines of BEFORE the [$]elections,
    reads almost verbatim; the day AFTER the [$]elections,
    all across the technocratic totalitarian globe.

    History; literally written, before it even happens.
    Stalin/Xi software eats the world.

  6. Michael UK on November 21, 2022 at 10:50 am

    It is very interesting to read about and see the pictures that bear witness to the attendance of very rich and famous people of world influence who attended the FTX Crypto Bahamas Conference in April this year.
    https://www.dailymail.co.uk/news/article-11426949/Inside-Bahamas-crypto-festival-FTX-CEO-Bankman-Fried-welcomed-Bill-Clinton-Katy-Perry.html

    https://nypost.com/2022/11/14/how-world-economic-forum-others-are-hiding-past-ties-with-ftx/

    I can’t see how the Establishment can bury this news. Unless there is another financial meltdown to wipe the slate clean?

    • anakephalaiosis on November 22, 2022 at 6:45 am

      The ancient concept of jubilee – that unburdens the slave – is contrary to the fake Israel, that is promoted by international finance.

      Moloch continuous to produce new idols, that are elaborate golems, with a fake promise of freedom, that turns into further enslavement.

      When the scam artist puts up a shop, in Palestine or Bahamas, it can only exist because of duped followers, who bend knees before an idol.

      The dual concept of Elohim-Yahweh, as temporal interval & shift, is designed to prevent sore knees.

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