November 19, 2022
Lessons from cryptocurrency: How Americans fell for the con
By Larry Cesare
Cryptocurrency has been touted as an investment alternative for people who want to avoid the risks and swings of markets based on traditional forms of currency. Crypto investing is arguably risky because, aside from being based on buying and selling digital currencies that have no inherent value other than what investors think they do, it occurs within an industry that's largely unregulated. Nonetheless, crypto trading has become very popular, making companies and some individuals who specialize in its purchase and sale very wealthy.
However, the crypto bubble may have recently burst because one of the world's largest crypto trading exchanges, FTX, run by a reportedly charming and persuasive 30-year-old multi-billionaire, Sam Bankman-Fried, has recently gone bankrupt after having been discovered to have allegedly been investing company funds into private hedge funds and involved in multiple corrupt influence-buying relationships with various, primarily Democrat, politicians.
Once exposed, FTX investors rapidly pulled their money out, causing it to file for bankruptcy in a matter of a few days and resulting in investors' losses of yet to be totaled billions. This spooked investor confidence, such that the larger digital currency market suffered an almost $800-billion loss of value. Some financial experts say that the sudden collapse of FTX is of such financial magnitude that its ripple effects stand to dwarf Enron's and to threaten global recession.
If you're scratching your head wondering how so many people and institutions could've invested so much trust and money into a shady, unregulated, and inherently risky operation like the FTX scam run by Bankman-Fried or any other house of cards, like the crypto industry in general, consider the quickness with which the masses, without question, bought in to approved narratives about
COVID's origin and dangerousness,
effectiveness and safety of COVID vaccines and mandates,
Biden's record-setting vote tally,
the legitimacy of the 2020 election,
the 1/6 Capitol "insurrection,"
inflation is temporary and comparatively not that bad,
supply chain breakdowns reflect a booming economy,
American patriots are "fascists," "extremists," and/or "terrorists"
Russia is a greater threat than China to the U.S.,
Ukraine is a "democracy" worthy of $91+ billion of U.S. money,
an open southern border is needed to fill American jobs,
"climate change" will destroy the planet in only a few years,
BLM is a legitimate benefactor to black Americans,
white people are innately "racist"
"diversity, inclusion, and equity" are more important than merit,
teachers know what children need better than their parents do,
gender is "fluid" and people, including children, can choose their own,
"born that way" as a rationale for the queer/trans movement,
abortion as a humane way of protecting women's health, and
everyone is entitled to his own "truth."
more
https://www.americanthinker.com/blog/2022/11/lessons_from_cryptocurrency_how_americans_fell_for_the_con.html
