In Washington DC political recriminations are under way on both sides of the divide. Mr Bankman-Fried had become one of the Democratic Party’s biggest donors, contributing $40m to its midterm campaigns. However Ryan Salame, a member of his inner circle at FTX, donated more than $20m to Republicans.
You’ve got to buy both sets of politicians. But it looks a little odd if the one person does that. So, split the duties.
I think what is really bothering me about all this is the question :
Did all these billions of dollars really exist ? I mean yes people invested heavily but the sums seem so huge, just to disappear in a puff of steam.
I guess that is what the laundering part through the Ukraine was designed to do, turn the virtual money into cash.
The correct way to think of it is not that the money – the value – all disappeared last week. It’s that they lost it over the past 18 months or so. Around that. Last week is just when everyone realised…..
the laundering part through the Ukraine That part is utter tinfoil hat bullshit though.
I don’t see why it is MC.
We know that Ukraine is a mafia state and we know that the Bidens have been corruptly skimming money off of deals and loans, so this fits nicely with the whole operational technique. As far as the Ukies were concerned this was a rounding error in the amounts of dosh and materiel that the West has been sending them.
(ps before PJF accuses me of being a Putin apologist – this is a war between two bald men fighting over a comb. Putin losing is immense fun, but I am not an unconditional nor uncritical Ukr supporter ).
We know that Ukraine is a mafia state and we know that the Bidens have been corruptly skimming money off of deals and loans, so this fits nicely with the whole operational technique.
We do not know anything of the sort. To suggest that Ukraine and Russia are morally equivalent is as good as being an apologist for Russia’s invasion and atrocities.
The simple fact is that Bankrun-Fraud created a dodgy crypto business, which in the short term threw off real cash for him. A lot. Some of this went to the Democrats, putting him in common with numerous other tech guys.
He also, as part of his charitable works – easy to be charitable when you’re getting free money from cryptogulls – set up a platform to allow people to donate crypto to Ukraine, so it could convert crypto into real money, money that could be used to defend itself from a rapacious invader.
To put all that together and say – without the slightest evidence – that this is all done in order to launder money for the Democrats is abject, tinfoil hat, QAnon, pizzagate bollocks.
“To put all that together and say – without the slightest evidence – that this is all done in order to launder money for the Democrats is abject, tinfoil hat, QAnon, pizzagate bollocks.”
We’ll know the answer to this conundrum if the Democrat controlled US State apparatus nail SBF and Co to the wall or not. If they do, then there obviously wasn’t any Democrat/Deep State involvement. If on the other hand they escape prosecution and never get to face any music over it all, then I think it would be legitimate to ask why that might be.
“To suggest that Ukraine and Russia are morally equivalent is as good as being an apologist for Russia’s invasion and atrocities”
My recollection is that whichever body rates countries on levels of corruption had Russia and Ukraine on nearly equal footing and that the US press has numerous stories before the war about Ukraine being a corrupt state.
The levels of corruption have nothing to do with their respective positions regarding the war and I’ve you don’t think anyone is skimming money then I might have a bridge you could be interested in buying
Just looking in to see what this thread is about, and. . .
. . . before PJF accuses me of being a Putin apologist . . .
I haven’t ever accused anyone of being a Putin apologist (nor a Russian stooge or a traitor . . .).
I merely emphatically argue that it is in our interest to ensure Russia’s move west is soundly defeated.
Things might get more interesting now they’ve apparently killed people in a NATO country. I don’t think the Poles will be up for brushing that under the carpet.
I wasn’t listening properly to the news on the wireless, but I think they hit somewhere in Moldova too.
I was shouting in 2014 that Putin’s annexation of the Crimea was a Czechoslovakia moment and the invasion of the whole Ukraine proved alas inevitable. My big fear is that he will do something really crazy just to save face.
. . . but I think they hit somewhere in Moldova too.
Apparently southern Moldovan power has been disrupted as a consequence of the strikes on Ukraine; the power grids are all interconnected at the borders.
It was noteworthy a couple of days ago that Hungary voted against Russia in the UN, and now their energy supply (Druzhba pipeline) has been shutdown as a consequence of today’s strikes. Hungarian Defence Council meeting ongoing.
– I was shouting in 2014 that Putin’s annexation of the Crimea was a Czechoslovakia moment . . .
Indeed, you weren’t alone. Alas, appeasement prevailed.
If Russia decides they aren’t going to get anything out of the invasion so may as well just level Ukraine so it’s not a threat to them in any way for a while at least then things could get a lot worse
Poland will make strong statements but I don’t see NATO going to war over a couple of accidental deaths
If they decided to carpet bomb Kiev could anyone stop them.
. . . I don’t see NATO going to war over a couple of accidental deaths
Non-responses are actually responses, and are always noted.
The correct way to think of it is not that the money – the value – all disappeared last week. It’s that they lost it over the past 18 months or so. Around that. Last week is just when everyone realised…..
Has the money disappeared as in literally gone, or has it just been transfered elsewhere in the economy via
nefariousmysterious means? If the former, then isn’t it just a helpful little bit of deflation? Once the money has been disconnected from “real” value (by putting it in crypto), then its evaporation isn’t much different to the KLF setting fire to a million quid bound for Mu Mu Land. A few less notes floating around.Sure it sucks if it’s your money that’s gone but, you know, long trousers and tulips.
Apparently the missile that struck Poland may be an S300, so as likely to be a wayward air defence asset as a wayward attack asset.
The fiat money that went into the system still exists, in someone else’s pocket. The “wealth” of crypto having gone up in value has disappeared as it has fallen again in value. Same with the supposed $50 billion value of the exchange etc.
It is easy to forget in all this cyber stuff, but at some point someone somewhere has paid specie in order to buy into the scheme. And it had been converted back into cash at some point.
I think this is what confuses a lot of people about share prices too.