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#886
11-11-2022, 08:50 PM
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#887
11-11-2022, 09:11 PM
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Does this mean Brady can't retire?
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#888
11-14-2022, 12:42 PM
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Lots of smoke (again)... looks like they're circling the wagons to try to ponzi their way out of this.
https://finance.yahoo.com/news/crypt...233855168.html https://finance.yahoo.com/news/aax-c...015041886.html
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#889
11-14-2022, 12:48 PM
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Can you ponzi your way out of a situation that you ponzi'ed yourself into?
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#892
11-14-2022, 02:40 PM
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I haven't followed crypto too closely because I didn't think it's worth my time, it's such an obvious scam, but, saw a picture of that 30 year old kid on stage with both Bill Clinton and Tony Blair (and he didn't even bother putting on long pants for this event), and then I read that he had contributed tens of millions to politicians, and I thought, ah ha, he we are again. No wonder this stupid funny money thing has gone de regulated for so long. Some even think it could possibly be a scam perpetrated by the Dems, who benefitted from his largess, to fund their campaigns from, essentially, nothing. Interesting take. Sorry for the politics, though.
I've been hit really hard this year with this interest rate spike, like many, but, I have to say, if we want to fix the glaring problem in our society of inequality, we have to stop the free money policy that creates idiotic situations like multi billionaires who can't even show a profit for their silly ideas, and then adoring them because we think they're gods of capitalism or something. Good that at least crypto is crumbling. Maybe all that freed up capital will lead to some good, and I can get maybe 5% on bonds with little risk.
__________________
It's not a new bike, it's another bike.
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#893
11-15-2022, 11:43 AM
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Best news I read all morning. This guy has a an ability to find the best stories. I'll pre order the book.
https://theankler.com/p/hwood-ftx-fr...-michael-lewis H'wood FTX Frenzy as Michael Lewis Reveals He Spent 6 Months with Founder Author compares Sam Bankman-Fried, Binance's CZ to 'Luke Skywalker and Darth Vader' in email sent by CAA
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It's not a new bike, it's another bike.
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#896
11-15-2022, 11:59 AM
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Quote:
Quote:
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#897
11-15-2022, 12:18 PM
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Hey, Tom Wolfe wrote about a lot of real life stuff. Electric Kool Aid Acid Test still sits on my shelf. Painted Word is still relevant. The Right Stuff was massacred in Hollywood, but, that wasn't fiction. Lewis pretty much directly comes out of that new journalism genre.
If Larry wants to redeem himself, he should audition for a role in this FX movie. It would be fun to watch.
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It's not a new bike, it's another bike. Last edited by Mr. Pink; 11-15-2022 at 12:22 PM.
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#898
11-15-2022, 12:22 PM
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Quote:
I'll bet the Michael Lewis book is pretty sympathetic to SBF. If the guy was imbedded for 6 mo and had not discovered it was a sham , it is because the guys were true believers. They just didn't understand the explicit leverage in the overall system from stablecoins.
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#899
11-15-2022, 02:13 PM
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Lewis writes books, he's not a traditional journalist doling out scoops. He wasn't really too sympathetic to the players on the wrong side in The Big Short, and this time, he's not researching after the fact. He was inside. Or, working on his tan in the Bahamas. Great storyteller. Can't wait.
But, yeah, this all makes great press and will be a good story, but, hardly a macro market shaker. Amazon has lost more in value than this silly fake money scam. The market rallied last week while this was happening.
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It's not a new bike, it's another bike. Last edited by Mr. Pink; 11-15-2022 at 02:15 PM.
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#900
11-18-2022, 08:55 AM
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I mean, wow, just wow. This writer thinks he's going to jail, but, I dont think so.
https://www.nakedcapitalism.com/2022...oors-auto.html
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It's not a new bike, it's another bike.
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