1769 ----------------------------- 1717 --------- 17,883 --- 18, 081
The FTX is ALL ABOUT ONE GUY: Sam Bankman-fried (SBF).
This playing-innocent-childish guy was SUPER SMART from the get go: HIS
POLITICAL DONATIONS PROVES that. He COVERED HIMSELF with his
political donations.
You can be sure "ONLY HE" KNOWS where that $500 MILLION went.
He had his ESCAPE HATCH "at the ready".
So SMART! From the get go.
PLAYING INNOCENT: I LOVE IT!
PLAYING PEOPLE FOR FOOLS by acting THE GENIUS.
This has THE STORY LINE of THE NEXT BIG "money-making" THRILLER
entitled: "The SCAM: the BIG, BIG ONE!"
Count on him TO WRITE A BOOK on how innocent he really + how HE
GOT PLAYED JUST LIKE EVERYONE ELSE thanks to economic conditions
CHANGING FOR THE WORSE.
WHO could have seen that, eh?
NOT HIS FAULT, is it? (Ha! Ha!)
He took advantage of THE BLIND SPOT OF AMERICANS: GREED!
He ran with it + PLAYED THAT CARD to the hilt.
AND HE'S STILL LAUGHING: "playing innocent" is always THE BEST TO GO. :D
The guy is A GENIUS of DECEPTION: THIS IS ONE FOR THE U.S. FINANCIAL
MARKETS HISTORY BOOKS.
It's ALL A LOT OF - FUNNY - HOCUS-POCUS.
WHAT IS "SO CRAZY" in THE FTX cryptocurrency "too-good-to-be-true"
BUSINESS was the fact that there were MANY RED FLAGS - AT THE
OUTSET!
For instance,
- NO BODY around him - ever - knew what was going on;
- he used "self-deleting" emails to run his businesses;
- there were NO EMPLOYMENT RECORDS;
- he was NOT a smiling kinda guy.
BUT THE "MAJOR" RED FLAG is this one: FTX did NOT have an
accounting department.
"HIS SUPER HERO TRAIT" WAS HOW SUPER CALCULATING he was +
HOW GOOD HE WAS at finding + putting "presumably" CROOKED
POLITICIANS in his back-pocket in order to give himself A GOOD
MEASURE OF SECURITY. :D
AS AN ADDED PRECAUTION: he created 130-FTX-associated companies
that make him super difficult to prosecute.
AND unlike the convoluted Enron practices that were about one
company, THE WHOLE FTX AFFAIR is ABOUT MANY.
To "properly" prosecute him, THE AUTHORITIES have to have PROOF
OF WRONGDOING.
Yep.
NONE TO BE FOUND. He saw to that. (Ha! Ha!)
AND, WHERE is this guy?
NOT in the USA.
In the Bahamas,
a place reputed as a leading global tax
haven + suspected for money laundering. :D
HOWEVER, ON THE SERIOUS SIDE OF THINGS, the FTX MELTDOWN
came "just-in-time" BECAUSE banks were seriously considering
stepping into the cryptocurrency business - in A BIG WAY!
AS A SIDE NOTE: Elon Musk became THE WORLD'S BIGGEST PROMOTER
of the cryptocurrency: HE TOOK THE BAIT accepting cryptocurrency as
"legal tender" at the time of the purchase of a Telsa vehicle. (Ha! Ha!)
TO HIS CREDIT, Warren Buffet said "BAH!" to the whole business, but he's
"NOW SAYING" THE TIME HAS COME to invest in THE SLUMPING STOCK
MARKET when STOCK PRICES ARE GOING - possibly for decades to
come - DOWN! DOWN! DOWN! (Ha! Ha!)
CLEARLY, the financial markets are JITTERY: SO TO WHOM do investors
turn to for SOLID FINANCIAL ADVICE, eh?
AND, my friend, "THEREIN LIES THE RUB" IN THIS WHOLE FTX MELTDOWN, no?
Ken, Toronto, CANADA