For all those that love history, this is the authoritative history of the Federal Reserve and it's creation. Not dry either. Reads like a novel. Bonus, also includes much about the history of money and has valuable information on basics of economics.
Definitely recommend for all you readers out there
I'm serious, up 1000% then down 20%. This is perfectly normal and has been during the latest bull runs. There's a reason they say Bitcoin is volatile in it's exchange rate. But don't take my word for it, or fake news media, check the charts yourself: https://coinmarketcap.com/
For one, Crypto is in a major bubble right now. I know most people who do not understand economics think a deflationary currency like bitcoin is the "future," but it is not. Inflation is good for building wealth in any country and any economy. 2% inflation every year is healthy, but people do not actually understand the numbers they are looking at. When someone who is used to making $40k per year sees trillions of dollars, it is like an ant watching the human world around them - they will never understand it. I have always argued that the 1% having a majority of the money is what keeps our money valuable. If the rich people were taxed and money distributed to the poor, supply and demand would simply make the price of everything rise and the poor people would give all of the money back to the rich people anyway. The military protecting this country (and any other 1st world country) is a major reason why money can continue to be printed and it be worth something. Once the safety of a country disappears, the money also becomes worthless. When no one wants to own the currency you own, or no one wants to live in the country where your currency is created, the currency becomes worthless.
That being said, Bitcoin is outrageous in regards to its price. The technology of blockchain will be game changing if used correctly, but Bitcoin, ETH, etc are all going insane on pricing because of speculation. Institutions can see the hype of this and they are of course going to invest. Most of the low tier investors "follow the money," meaning that if a massive investment firm like Blackrock invests into something, the smaller guys will follow their lead.
Is Elon manipulating the price? Possibly, but who gives a fuck. If you do not already know, you need to learn the accounting behind owning a digital asset like crypto.
If Tesla buys $1.5b worth of Bitcoin and it goes down in value, they can write those losses off on their taxes - EVEN IF THEY DO NOT SELL THE COIN.
However, if the Bitcoin value goes up and Tesla's investment grows by $100m, they DO NOT have to pay taxes on the money.
They only have to pay taxes on gains if they sell, but they can write off losses without selling.
There is more to it that even I don't understand, but it seems there are always people who blackpill themselves into believing every conspiracy that is spewed by any random 1000 sub YouTuber.
Timing is everything. What timing! Elon backs Gates and Yellen and the Fed shuts down next day. PR teams promoting Elon here a few days ago feeling out if we thought he was our bro or not. The childish betrayal the next day after a predictable feud with Bezos. Neither represents a capitalist nor communist form of identity. They are merely attempting the oldest carnal trait in the book competition for OUR money. They are tired of doing their jobs but their insatiable taste for control and wealth starts and stops only at them. They have to pry it from us with cool entertainment like prime movie or youtube spacex blooper reels. The fight isn't even great entertainment but a game perpetrated against the unwitting masses: You.
I remain confused. Musk bought a bunch of BTC and it went up - not shocking. It went even higher. Then he says "it's probably too high" which is nothing more than an obvious assumption. How is that connected to fed going dark and gates commenting on musk's words?
Hi this is my field, the only way this could be audited is by a regulator. As the fed is the regulator, there are only internal audits that can be done, because we don't have non governmental oversight agencies like some other countries do.
Hmm. Might be a good time for me to drain my checking account and getting some more hard assets. Was saving up for a down payment on a home... but with the way things have went since Nov. 3rd, probably won't really be a home to get in a few months anyways.
Put a portion of your cash into a fire proof safe and hide it. You're probably not earning much on interest in the bank. Gives you a small backup plan in event of a bank run or some other shortage (like the coin shortage last year).
Yeah you want to hedge against both inflation and deflation. Remember the Great Depression was worsened because the federal reserve eliminated 30% of the money supply overnight to "fix" inflation
As soon as they were established they printed money to fund their great war and then soaked up all the cash to make sure the people stayed poor in the aftermath. Can't let the plebes get ahead.
And removed all the gold from the system by an ILLEGAL "Executive Order" that "supposedly" made it illegal to own US gold coins, or Any gold for that matter.
Fair enough, I'm not actually active in the crypto space - I just remembered seeing that name in one of the articles I read and responded based on that.
I guess that's what I get for skimming that section and then answering as if I read in in totality.
The Passover of the Jews was near, and Jesus went up to Jerusalem. In the temple he found people selling cattle, sheep, and doves, and the money changers seated at their tables. Making a whip of cords, he drove all of them out of the temple, both the sheep and the cattle. He also poured out the coins of the money changers and overturned their tables.
"Operational error" sounds like a lot like one of those "glitches" or "human errors". Dont be alarmed by the fact our entire economy can be thanos snapped out of existence by a single individual.
Real question- who owns the fed? Each regional fed is owned by its member banks as I recall. There must be a definitive list of these member banks, right? Do any own an outsize proportion?
They think everyone is an idiot, its so obvious they are manipulating data to hide their corruption or rigging the system in some way or laundering money
Strange. I know a person who works for a person who's business manages thousands of banks and credit unions and this was the first time I heard about it.
bro when the EMP drops my bitcoin is the least of my concerns. How tf are you going to use an atm at a bank or get food and water. The entirety of society will collapse and neither bitcoin or the current banking system will survive. that's not the point.
Sounds like "3am" fuckery to me
You know it.
The Creature from Jekyll Island by G.Edward Griffin.
For all those that love history, this is the authoritative history of the Federal Reserve and it's creation. Not dry either. Reads like a novel. Bonus, also includes much about the history of money and has valuable information on basics of economics.
Definitely recommend for all you readers out there
☝️💯
Giggity.
I'm not sure this affected the stock market, not really sure what the purpose of doing this was
Had to go offline briefly to hand co-keys over to Chynese masters.
I'd imagine our 'bro-pepe' Elon, Vaccine-bro Gates and Mobster-bro Yellen might know something: https://www.cnet.com/personal-finance/bitcoin-falls-after-concerns-expressed-by-musk-gates-and-yellen/
Musk is (almost) spot on but got twisted by MSM (as always).
Gates and Yellen probably just doing as they are told, couldnt be bothered to look into that - it's just swamp, same old same old
To install either hardware or software.
Power down
Open system.
Install warez.
Restart
Install drivers.
Restart.
Test.
Reinitiate.
A big team could easily do it in an hour.
Or Bill Gates just types in his super duper admin password.
4chan probably stole a few trillion.
That 4chan has always got a trick or two up his sleeve!
How much money did they move when the systems were down?
Oh, yeah they definitely just did some shady shit.
This is my field and I can assure you they don't need to feign system outage to move money, audit logged or not.
That then begs the question: what could they want to do that would require them to feign an outage?
I think it's more likely that somebody broke the FedNow service(intentionally or otherwise) and it created a domino effect to its linked systems.
Spez: News is saying it's the Fedwire service and not FedNow, but who really knows...
Definitely didnt end up in the hands of hard working americans who have lost their jobs due to the common cold.
^This
Will also hear a lot of reeeeeeeeeeeing as well.
There are no white hats. Justice is not winning.
Email me when you've dragged the first one.
Just delete it all so we have less inflation. Inflation hits the middle class the hardest.
10% for the big guy lol
When you do that it's called money laundering. When the government does it, it is called central banking.
https://www.cnet.com/personal-finance/bitcoin-falls-after-concerns-expressed-by-musk-gates-and-yellen/ just days ago Elon had his PR team over here raising updoots. A total pump and chump.
A correction was expected, it's up over 1000% since the last bottom.
You have got to be kidding me.
Yeah. A "Correction." ;D
https://www.thesun.co.uk/tech/13822372/bitcoin-whales-crash-market/
I'm serious, up 1000% then down 20%. This is perfectly normal and has been during the latest bull runs. There's a reason they say Bitcoin is volatile in it's exchange rate. But don't take my word for it, or fake news media, check the charts yourself: https://coinmarketcap.com/
"This is perfectly normal" Look at the title of this post.
For one, Crypto is in a major bubble right now. I know most people who do not understand economics think a deflationary currency like bitcoin is the "future," but it is not. Inflation is good for building wealth in any country and any economy. 2% inflation every year is healthy, but people do not actually understand the numbers they are looking at. When someone who is used to making $40k per year sees trillions of dollars, it is like an ant watching the human world around them - they will never understand it. I have always argued that the 1% having a majority of the money is what keeps our money valuable. If the rich people were taxed and money distributed to the poor, supply and demand would simply make the price of everything rise and the poor people would give all of the money back to the rich people anyway. The military protecting this country (and any other 1st world country) is a major reason why money can continue to be printed and it be worth something. Once the safety of a country disappears, the money also becomes worthless. When no one wants to own the currency you own, or no one wants to live in the country where your currency is created, the currency becomes worthless.
That being said, Bitcoin is outrageous in regards to its price. The technology of blockchain will be game changing if used correctly, but Bitcoin, ETH, etc are all going insane on pricing because of speculation. Institutions can see the hype of this and they are of course going to invest. Most of the low tier investors "follow the money," meaning that if a massive investment firm like Blackrock invests into something, the smaller guys will follow their lead.
Is Elon manipulating the price? Possibly, but who gives a fuck. If you do not already know, you need to learn the accounting behind owning a digital asset like crypto.
If Tesla buys $1.5b worth of Bitcoin and it goes down in value, they can write those losses off on their taxes - EVEN IF THEY DO NOT SELL THE COIN.
However, if the Bitcoin value goes up and Tesla's investment grows by $100m, they DO NOT have to pay taxes on the money.
They only have to pay taxes on gains if they sell, but they can write off losses without selling.
There is more to it that even I don't understand, but it seems there are always people who blackpill themselves into believing every conspiracy that is spewed by any random 1000 sub YouTuber.
kys you stupid fuck
Criminally underrated post, this should be at +1000
What is incorrect and/or nefarious about Musk's tweets in your article?
https://www.bbc.com/news/business-55939972
Timing is everything. What timing! Elon backs Gates and Yellen and the Fed shuts down next day. PR teams promoting Elon here a few days ago feeling out if we thought he was our bro or not. The childish betrayal the next day after a predictable feud with Bezos. Neither represents a capitalist nor communist form of identity. They are merely attempting the oldest carnal trait in the book competition for OUR money. They are tired of doing their jobs but their insatiable taste for control and wealth starts and stops only at them. They have to pry it from us with cool entertainment like prime movie or youtube spacex blooper reels. The fight isn't even great entertainment but a game perpetrated against the unwitting masses: You.
I remain confused. Musk bought a bunch of BTC and it went up - not shocking. It went even higher. Then he says "it's probably too high" which is nothing more than an obvious assumption. How is that connected to fed going dark and gates commenting on musk's words?
I guess what you are stuck on is Elon Musk isn't 'one of us.'
That's why he pays a PR team to talk to us.
He talks at the people from a stage.
He had Tesla buy said coin at $1.5bil. The SEC is investigating reddit for market manipulation and probably the .win communities. Why aren't they investigating his tweets? https://www.msn.com/en-us/money/news/elon-musks-tweet-about-dogecoin-sends-price-up-10percent-in-30-minutes-again/ar-BB1dYVdH He's obviously sending messages to other big movers.
You'd imagine that if a system like that went down there would be 20 external agencies coming to investigate and not an internal audit.
Why? It's nkt like there were any garage pull down strings involved.
Don't stop with this line of sarcasm. Bubba Wallace is a racist bitch.
Hi this is my field, the only way this could be audited is by a regulator. As the fed is the regulator, there are only internal audits that can be done, because we don't have non governmental oversight agencies like some other countries do.
This is why the Founders fought tooth and nail against central banks. Zero accountability, absolute control. What a complete scam.
I assumed it was something like this. There are so many systems that are purposefully built out like this and there's not much talk about it.
The FBI? Like they care about law and order. They exist to protect the DC class from state level law enforcement.
Outrageous!
Their system is in its death throes. It should all be destroyed. The quicker the better.
Hopefully it goes out again and never comes back.
You are correct.
Now that I think about it, it's been dead since 1913 when it began.
UNDEAD UNDEAD UNDEAD
unironically this please
Suddenly I owe the bank 2.5 million dollars.
Waitaminute. Where have I seen something like this before?
Hmm. Might be a good time for me to drain my checking account and getting some more hard assets. Was saving up for a down payment on a home... but with the way things have went since Nov. 3rd, probably won't really be a home to get in a few months anyways.
Put a portion of your cash into a fire proof safe and hide it. You're probably not earning much on interest in the bank. Gives you a small backup plan in event of a bank run or some other shortage (like the coin shortage last year).
Yeah you want to hedge against both inflation and deflation. Remember the Great Depression was worsened because the federal reserve eliminated 30% of the money supply overnight to "fix" inflation
As soon as they were established they printed money to fund their great war and then soaked up all the cash to make sure the people stayed poor in the aftermath. Can't let the plebes get ahead.
And removed all the gold from the system by an ILLEGAL "Executive Order" that "supposedly" made it illegal to own US gold coins, or Any gold for that matter.
Good advice about the fire safe etc
It's a dry run. Testing for how easily they can shut it all down, crippling everyone. Even a crypto went down.
Very plausible.
What crypto went down?
Nah, that's fake news. All my nodes are online, and I'm sure other peoples nodes are up too.
Gemini
That's not "a crypto", that's an exchange. The cryptocurrencies themselves being affected would be far more concerning.
Fair enough, I'm not actually active in the crypto space - I just remembered seeing that name in one of the articles I read and responded based on that.
I guess that's what I get for skimming that section and then answering as if I read in in totality.
2:15 p.m., the Federal Reserve Bank in Richmond reported that an “operational error” caused the service outage
According to a guy I know:
Someone was using the automated monitoring tool they have and issued a series of reboot commands to every server in the national data center at once.
That’s called a bad day.
Thats called a test
Implying it was an accident.
Solar wind related?
Maybe
Jesus drives the Moneylenders
from the Temple
The Passover of the Jews was near, and Jesus went up to Jerusalem. In the temple he found people selling cattle, sheep, and doves, and the money changers seated at their tables. Making a whip of cords, he drove all of them out of the temple, both the sheep and the cattle. He also poured out the coins of the money changers and overturned their tables.
"Operational error" sounds like a lot like one of those "glitches" or "human errors". Dont be alarmed by the fact our entire economy can be thanos snapped out of existence by a single individual.
Exactly what I was thinking.
Yep
https://youtu.be/Vywf48Dhyns
WTF is going on?
A redundantly secure financial grid just "goes down" for a few hours, innocently. Yeah fucking right.
Real question- who owns the fed? Each regional fed is owned by its member banks as I recall. There must be a definitive list of these member banks, right? Do any own an outsize proportion?
government-appointed central board with12 regional banks to represent American regions.
Paraphrased from here:
https://www.thebalance.com/who-owns-the-federal-reserve-3305974
Wonder how many liberals had their morgages wiped out? Asking for my neighbor.
Fed up!
Let me guess another flood?
Well that's concerning.
BUY SILBUR
THE ACTUAL VALUE OF IT IS CLOSE TO 4,000 AN OUNCE!! BUY BUY BUY
DON'T TELL LIBERALS THIS
I can guess what caused the quagmire'.
A buggy "domestic terrorist" surveillance system update.
They think everyone is an idiot, its so obvious they are manipulating data to hide their corruption or rigging the system in some way or laundering money
. . . Then comes the crash.
quagmire.... HA..... Interesting... <3 MAGA2021
So, we'll knock it down again.
Strange. I know a person who works for a person who's business manages thousands of banks and credit unions and this was the first time I heard about it.
Crypto is inevitable folks buy yours now, be set forever in 10-20 years. You heard it here first.
When the EMP drops how are you going to trade bitcoin.
bro when the EMP drops my bitcoin is the least of my concerns. How tf are you going to use an atm at a bank or get food and water. The entirety of society will collapse and neither bitcoin or the current banking system will survive. that's not the point.
You are preaching to the choir.
Being an agorist I'm ready for the tech fall.
I have many tradable skills.