Crypto Exchange

[Guest]

I bet there are shortages of baby formula, common over the counter medications, diesel fuel, and their citizens are taxed to the max. Oh wait sorry thats here, the Bolsheviks hell bent on destroying our economy and property rights are in control.

[ATTACH]11401[/ATTACH]

they're going to stop the engine of the world

[TASFarms]

Ontario teachers pension fund had lots of money invested in Ftx.

[jazz]

Ontario teachers pension fund had lots of money invested in Ftx.

Oh its much worse than that. He took his client token assets and borrowed against them levered up 10:1 then transferred that fiat money to his hedge fund and started trading the stock market.

This thing is 3x what Enron was, might be Lehman 2.0. Tom Brady lost his entire fortune is the rumor. Hustlers like Kevin O Leary in the mix.

Dude is on the run in Argentina now going to Dubai or UAE.

Now it will be a blow up and the whole industry will be regulated out the wazoo. But looks like the dems got their democracy win before it all went down.

[biglentil]

Interesting

[TASFarms]

I did see that Tom Bradey had most of his 650 million in ftx. What I find really interesting is that money US gave Ukraine to help the war effort went into Ftx. Nothing to see here.

[WiltonRanch]

I could give a rats ass about crypto as its intangible play money unless it’s backed by something tangible. I’m not judging anyone involved with it as some with better financial success than I were involved. Crypto isn’t going away anytime soon but how is it regulated so people don’t lose their asses again but still be a non government controlled currency? Heard somewhere the Chinese and other rogue powers use crypto but soon convert to greenbacks or tangibles.

Far as the FTX mess it was a case of someone who got too big for their britches. The guy was making money on the bid ask spread between NA markets and Asia markets. Business got saturated so he pivoted to market maker but ran out of capital so he dipped into investors money and lost it too. Then he skipped.

[biglentil]

I could give a rats ass about crypto as its intangible play money unless it’s backed by something tangible. I’m not judging anyone involved with it as some with better financial success than I were involved. Crypto isn’t going away anytime soon but how is it regulated so people don’t lose their asses again but still be a non government controlled currency? Heard somewhere the Chinese and other rogue powers use crypto but soon convert to greenbacks or tangibles.

Far as the FTX mess it was a case of someone who got too big for their britches. The guy was making money on the bid ask spread between NA markets and Asia markets. Business got saturated so he pivoted to market maker but ran out of capital so he dipped into investors money and lost it too. Then he skipped.

So tell me what are dollars backed by?

[sumdumguy]

The dollar is a medium of exchange of verifiable record. It is transportable and convertible. That dollar is visible even though you may think it’s useless, just try living without any.

[AlbertaFarmer5]

So tell me what are dollars backed by?

The dollar is backed by the confidence of most people and most business
who use it for transactions all over the world. who have confidence that another party will accept it at face value. Based on decades of stability compared to virtually any other currency. It may not be a great store of wealth over the long term, but it's not going to zero by next tuesday, as so many other currencies and Ponzi schemes can do.

[biglentil]

The four most expensive words in the English language are ‘This time it’s different – Sir John Templeton

[fjlip]

Ontario teachers pension fund had lots of money invested in Ftx.

That's just perfect! Those rich bastards can go to F'ing hell! Overpaid oligarchs, upper class pricks!

Yup, it's a mess, Democrat/billionaire CROOKS all over, rotten P'sOS wrecking everything!

[AlbertaFarmer5]

That's just perfect! Those rich bastards can go to F'ing hell! Overpaid oligarchs, upper class pricks!

Yup, it's a mess, Democrat/billionaire CROOKS all over, rotten P'sOS wrecking everything!

I wouldn't celebrate too fast. The OTPP will be a defined benefits pension plan. So if they can't meet their obligations, one way or another it's going to come out of taxpayers pockets.

I commented earlier about me Insanity of Canadian pension plans investing in crypto, while selling farmland, but I forgot to add that they are most likely also playing along with the divest in fossil fuels mantra.
It is not going to end well.

[shtferbrains]

I haven't noticed any other countries sending large quantities of cash to aid in the Ukrainian war effort.

If a leader of a country passed out $830+ million dollars to an assortment of known shithole countries where kickbacks are the rule, how much return might be expected?
In millions?

A lot more than shows up in a family foundation?

[TASFarms]

I haven't noticed any other countries sending large quantities of cash to aid in the Ukrainian war effort.

If a leader of a country passed out $830+ million dollars to an assortment of known shithole countries where kickbacks are the rule, how much return might be expected?
In millions?

A lot more than shows up in a family foundation?

Villas in south of France? Looks like a good kick back.

[hedgehog]

[QUOTE=sumdumguy;553407]

Correction, I have been in cash since August. I know whats coming. The fed fund rate is going to 6%. Mortgage rates will be in the 10% range in the US. Let the dumb money burn up.

The Ontario Teachers Fund and Quebec Pension Plan had significant crypto holdings. Oops.

Awe - too bad! 🥲

They might have to offload some dirt