Tag: Financial Literacy

Banking History

Banking History
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CrytoCurrency Book
1 – 2 – 3 – 4 – 5 – 6 – 7 –8 –9 –10 – 11

Guelphs and Ghibellines

The Guelphs and Ghibellines were factions supporting the Pope and the Holy Roman Emperor, respectively, in the Italian city-states of central and northern Italy. During the 12th and 13th centuries, rivalry between these two parties formed a particularly important aspect of the internal politics of medieval Italy.

The Ghibellines were the imperial party, while the Guelphs supported the Pope.  The struggle for power between the Papacy and the Holy Roman Empire arose with the Investiture Controversy, which began in 1075, and ended with the Concordat of Worms in 1122. The division between the Guelphs and Ghibellines in Italy, fuelled by the imperial Great Interregnum, persisted until the 15th century.
https://brewminate.com/guelphs-vs-ghibellines-medieval-division-between-papal-and-imperial-support/

White and Black Guelphs

Guelphs vs. Ghibellines: Medieval Division between Papal and Imperial Support
The Guelphs and Ghibellines were factions supporting the Pope and the Holy Roman Emperor, respectively, in the Italian city-states of central and northern Italy. During the 12th and 13th centuries, rivalry between these two parties formed a particularly important aspect of the internal politics of medieval Italy.
The struggle for power between the Papacy and the Holy Roman Empire arose with the Investiture Controversy, which began in 1075, and ended with the Concordat of Worms in 1122. The division between the Guelphs and Ghibellines in Italy, fuelled by the imperial Great Interregnum, persisted until the 15th century.

RED CROSS ON THE WHITE FLAG ARE THE GHIBELLINES
WHITE CROSS ON THE RED FLAG ARE THE GUELPHS
Contemporaries did not use the terms Guelph and Ghibellines much until about 1250, and then only in Tuscany (where they originated), with the names “church party” and “imperial party” preferred in some areas.
https://brewminate.com/guelphs-vs-ghibellines-medieval-division-between-papal-and-imperial-support/

BANKERS GO CRYPTO

Why did Ryan Fugger have the idea in the first place?
 The Fugger banking family was in the banking business for centuries.

The Fugger Banking Family

The Fugger Banking Family that produced Ryan Fugger who thought of a ripple blockchain coin first for the purpose of replacing SWIFT

Banker Jakob Fugger / Ryan Fugger Ripple Crypto Currency

#Ripple #XRP and #Steller

Fugger was thinking the RIPPLE blockchain coin first for the purpose of replacing SWIFT which all the banks use worldwide to transfer funds.

Fugger built RipplePay.com in August 2012 then renamed Ripple Labs in 2015. Jed McCaleb hired Chris Larsen and they approached Ryan Fugger with their digital currency idea. After discussions with McCaleb, Fugger sold his business to them.
https://en.wikipedia.org/wiki/Ripple_Labs

Larsen also served as the CEO of Ripple until 2016, at which point he relinquished that position to Brad Garlinghouse. In 2018, Forbes estimated Larsen’s net worth to be $59 billion, making him the fifth richest person in the world.

Jed McCaleb is very involved in the blockchain and cryptocurrency space. He was the  mind behind several very well known initiatives including Mt. Gox (he left before it went downhill), McCaleb had achieved significant success with several P2P initiatives before, most notably the file sharing network eDonkey2000 and its P2P network eDonkey.

McCaleb now works on the Stellar Lumens (XLM) project, a network that some would say competes with Ripple and XRP, and was the CTO of Ripple until 2013. Jed McCaleb has also made a considerable profit from his stake in Ripple, XRP and Steller holdings.

SEC Charges Ripple and Two Executives Larsen and Garlinghouse with Conducting $1.3 Billion Unregistered Securities Offering

https://www.sec.gov/litigation/complaints/2020/comp-pr2020-338.pdf

https://www.cnn.com/2020/12/23/investing/ripple-sec-lawsuit-trnd/index.html

Eric Wall ~ How can you be an XRP shill at this point?

  • Boring-ass chain with no DeFi 
  • Trusted-ass security with no PoW or PoS
  • Ridiculous supply distribution
  • No banks use XRP that was all bullshit
  • Backing company drowning in legal headache
  • Nobody uses it for payments
  • No privacy

THE FUGGER BANK

2021 The Fuggerei, a Roman Catholic housing settlement for the poor that Jakob Fugger “The Rich” built in this southern German city nearly 500 years ago.

In This Picturesque Village, the Rent Hasn’t Been Raised Since 1520 Tenants in German Enclave Pray Daily, For Good Fortune and the Souls of Bankers.
Despite daily headlines about banker-fueled economic crisis and an alleged $50 billion Ponzi scheme, her 145 neighbors pray, too. Mrs. Wunderle lives in the Fuggerei, a Roman Catholic housing settlement for the poor that Jakob Fugger “The Rich” built in this southern German city nearly 500 years ago. Praying for Mr. Fugger and his descendants to enter the Pearly Gates is a condition for living here, at an annual rent of 1 Rhein guilder, the same as in 1520. In today’s money, that’s 88 euro cents, or about $1.23. Jakob the Rich was Wall Street long before it existed. He minted coins for the Vatican, bankrolled the Holy Roman Empire and helped steer Europe’s spice trade in the early 16th century to become one of the wealthiest and most powerful financiers in history. He left more than seven tons of gold to his successors — and a good deed.
https://www.wsj.com/articles/SB123025158419834413

The Fuggerei is the world’s oldest social housing complex still in use. It is a walled enclave within the city of Augsburg, Bavaria. It takes its name from the Fugger family and was founded in 1516 by Jakob Fugger the Younger (known as “Jakob Fugger the Rich“) as a place where the needy citizens of Augsburg could be housed. Additionally he was a financier and counted the Vatican as a notable client. The family became financial backers of the Habsburg family, and he financed the successful election of Charles V as Emperor of the Holy Roman Empire in 1519. The Fugger family foundation is currently headed by Maria-Elisabeth Gräfin Thun-Fugger, née Gräfin Fugger von Kirchberg, who lives at Kirchberg Castle. Other member of the foundations’s board are Alexander Graf Fugger-Babenhausen and Maria-Theresia Gräfin Fugger-Glött. All three still existing branches of the Fugger family are thus represented.
https://en.wikipedia.org/wiki/Fuggerei

SWITZERLAND HAS THE WHITE CROSS ON THE RED FLAG THEY ARE THE GUELPHS who support the POPE

 

Switzerland & United States are the world’s most corrupt nations – report

A new study from advocacy group Tax Justice Network reveals that Switzerland is the world’s most-corrupt country, with a “high secrecy score of 76.” It’s followed by the US and the Cayman Islands.

“Switzerland is the grandfather of the world’s tax havens, one of the world’s largest offshore financial centers, and one of the world’s biggest secrecy jurisdictions or tax havens,” said the group’s report ‘Financial Secrecy Index — 2018 Results’.

It explained that “the Swiss will exchange information with rich countries if they have to, but will continue offering citizens of poorer countries the opportunity to evade their taxpaying responsibilities.

Financial Secrecy Index 2018: watch and listen https://t.co/RFfWAu7CeXpic.twitter.com/hzMMSEn4LT

— Tax Justice Network (@TaxJusticeNet) February 2, 2018

“These factors, along with ongoing aggressive pursuit of financial sector whistleblowers (resorting at times to what appear to be non-legal methods) are ongoing reminders of why Switzerland remains the most important secrecy jurisdiction in the world today,” said the report.

“The US provides a wide array of secrecy and tax-free facilities for non-residents, both at a Federal level and at the level of individual states.”

The report added that “Financial secrecy provided by the US has caused untold harm to the ordinary citizens of foreign countries, whose elites have used the United States as a bolt-hole for looted wealth.”

Cayman Islands, Hong Kong, Singapore, Luxembourg, Germany, Taiwan, the United Arab Emirates, and Guernsey closed out the top-10 most corrupt countries.

NOTES 2025

3/7/25 Donald Trump signed an executive order establishing a US cryptocurrency reserve. It will be capitalized with bitcoin owned by the federal government that was seized as part of criminal or other legal proceedings https://reut.rs/41JTTG5

The US government may not buy XRP and may only hold onto or sell it.
Ripple and its co-founders spent tens of millions of dollars on political donations with dreams of the US government acquiring XRP for a sovereign crypto reserve. Instead, at 7:11pm yesterday, they endured a catastrophic conclusion to their lobbying efforts.
When so-called “Crypto Czar” David Sacks tweeted the text of a signed executive order, Ripple and its XRP Army learned that Donald Trump would not — despite his explicit promise — direct the US government to buy XRP.
Although Trump claimed on March 2 that he would create a Crypto Strategic Reserve that includes XRP, he did not. Instead, he actually signed an order relegating XRP to a separate, sell-only stockpile.
https://protos.com/ripple-founders-lobbied-for-xrp-reserve-got-sell-only-stockpile-instead/

Trump did in fact create a crypto reserve for the other coins the government has confiscated.

Samson Mow @Excellion
Any digital asset in a strategic reserve cannot have a “monetary policy,” especially one that can be changed.

@Ripple CFO Jonathan Bilich has filed a Declaration in Support of @Ripple’s Motion to Seal. 5/13/24
https://www.dropbox.com/scl/fi/8c30q0v6quhx548nkag6b/Declaration-of-Ripple-CFO-Jonathan-Bilich-5.13.2024.pdf?rlkey=qnx0oz0mxyaukwcbc9y0s85ax&e=1&dl=0

Brad Garlinghouse@bgarlinghouse Dec 10 2024
This just in…we have final approval from @NYDFS for $RLUSD! Exchange and partner listings will be live soon – and reminder: when RLUSD is live, you’ll hear it from @Ripple first.
–How the mechanics of Ripple’s stablecoin (RLUSD) will work.
As explained by @JoelKatz.
https://x.com/MrManXRP/status/1866832323133706293

— @BoringSleuth
If “Dave” takes $1,000 USD and purchases $1,000 worth of RLUSD, RLUSD will essentially just ensure they have $1,000 worth of XRP in reserves to back it.
The fact that RLUSD can and will be backed by XRP is comical. They are just offering you another way to essentially buy $1,000 worth of XRP, rebranded as a stablecoin (which is backed by XRP). They can take your $1,000 straight to the bank.
This goes for any Crypto company launching their own Stablecoin backed by their own assets.
https://x.com/BoringSleuth/status/1867034435008249970

Daniel Prince @Princey21M
THREAD ! – 20
https://threadreaderapp.com/thread/1880932630377763186.html
So, why did $TRUMP choose to start a shitcoin and why on Solana?
Wait, it was shitcoining frauds all along?
Always has been.
Shall we follow the ‘MoNeY’ to find out if there are any conflicts of interest and misaligned incentives?
THREAD Who is David Sacks and why was he chosen to be the CrYptO Czar for Trump’s administration? Musk and Sacks are connected through Paypal.
Sacks was COO whilst Musk was CEO. Nicely sitting atop the tree of the Paypal Mafia. So Sacks is now directly tied to dozens of companies running on the Solana BlOcKcHaIn AND the network itself!?
And is advising the President on CrYptO as his Czar?

<—RIPPLE XRP—>
Stuart Alderoty@s_alderoty 8/7/24 https://x.com/s_alderoty/status/1821291351063064708
A final judgment. The Court rejects the SEC’s suggestion that Ripple acted recklessly and she reminds the SEC that this case did not involve any allegations of fraud or intentional wrongdoing, and no one suffered any financial harm. She rejects the SEC’s absurd demand for $2B in fines and penalties. We respect the $125M fine the Court has imposed for certain historic sales to sophisticated third parties.
Congratulations to Ripple and their legal team. Let’s see how gary spins this on CNBC. Huge loss for the SEC.

1/16/25 XRP edges closer to its historic peak in 2025, but over 23% of its supply is concentrated on just 11 centralized exchanges. The tension between accessibility and control raises crucial questions.

– 11 exchanges hold 23.09% of XRP’s total supply.
– Ripple manages 8 of the top 10 wallets.
– Top 100 wallets control 71.82% of circulating XRP.
Decentralization is key! Concentrating 23% of XRP’s supply on just 11 exchanges is a recipe for control, not freedom.

David “JoelKatz” Schwartz @JoelKatz
Replying to @BitcoinPierre and @161Wilz
You mean “XRP” is a trademark owned by Ripple. XRP itself is a digital currency. To call a digital currency a trademark would be a category error.
Pierre Rochard @BitcoinPierre
No exchange is going to take on the legal liability of attaching the XRP ticker to a fork that is not endorsed by Ripple.
Ripple has 100% control over XRP. All the “decentralization” is pure theater. Ripple can create infinite XRP by forking the ledger and suing anyone who tries to stay on the old ledger.
XRP scarcity is an illusion, same as fiat.
Bitcoin is backed by math and energy.
XRP is backed by trademark intellectual property laws.
We are not the same.

Bitcoin Dad @bitcoin_dad
-Ripple employs: CEO, lobbyists, marketing team, PR team
-Bitcoin employs: No one

-Ripple lobbying budget: Millions
-Bitcoin lobbying budget: $0

One is a business trying to shill you something.
The other is valuable digital property & Sound Money.

RIPPLE XRP
Ripple is literally the only blockchain whose initial blockchain history is deleted. The first 32,569 blocks are gone and unauditable. It’s the ultimate shitcoin. Try validating the first few weeks of blocks. Oh wait you can’t because THEY LOST THEM. Yes that’s right. They lost and couldn’t recover the beginning of the ledger.

XRP may be the biggest scam of all time.
How much of XRP was premined?
All 100 billion XRP (the total supply) were premined by Ripple Labs at its
inception in 2012. This means the entire supply was created all at once,
unlike bitcoin and other proof-of-work cryptocurrencies, where new coins
are gradually mined over time.

Ripple funded attacks on Bitcoin directly and supported Kamala, who wanted to destroy our industry. They lost at the ballot box, and should be shunned with prejudice. They have been the biggest scam in the space for over a decade. XRP is, in fact, a shitcoin no better than fartcoin

Peter McCormack: I have it from a direct source that @bgarlinghouse and XRP/Ripple are actively working to undermine the SBR.
Absolute scum.

3/5/25 Stuart Alderoty @s_alderoty
https://x.com/s_alderoty/status/1897293026181144919
The @NatCryptoAssoc (NCA) officially launches today, and I’m excited to join as President (in addition to my role as Chief Legal Officer at Ripple).
What’s the NCA going to do, you ask? It’s putting a spotlight on real people and businesses using crypto everyday. NCA is not a political organization – it’s open to all, not limited to a specific project or protocol.
NCA is here to cut through the noise and make sure everyday Americans have the facts, resources and tools, and support they need to engage with crypto confidently. If you’re already benefitting from digital assets in your life or your business, now’s the time to join us and share your story. If you’re just curious, we are here for you to learn more. https://nca.org/

2/2/25 According to Whale Alert, 400 million XRP (US$1.136 billion) were unlocked today. Each unlocked XRP will not enter the market completely. Ripple usually only uses part of the tokens (for example, 20%-25% for market sales), and the rest will be locked back into the custody account and delayed until the next month.
Ripple “only” dumps $300m: calm
Ethereum Foundation sells $2m: big panic
another month, another ripple gimmick to control the market

UPDATE: from a single source, but a uniquely connected one:
“No matter their efforts, zero chance that @Ripple and $XRP ends up as part of any sort of US Strategic Reserve. None. We aren’t fooled by snake oil salesmen.” “The focus remains on Bitcoin.”

Anthony Georgiades, who can be seen in the video saying Ripple and $XRP have fundamental flaws, happens to be an advisor where Bill Hinman’s son is Director of Enterprise Technology. Of course.
Anthony is Co-Founder of Pastel which conveniently uses Ethereum and Solana
https://x.com/cowboycrypto313/status/1885052873521946719

Jack Mallers @jackmallers
Bitcoin is a public good. XRP is a corporate lobby. One protects the people, the other protects insiders.
The US has a chance to make history with a Strategic Bitcoin Reserve. Finally, an economic decision that benefits the people and secures the future of our country.

Samson Mow 1/27/25 @Excellion
https://x.com/Excellion/status/1884033145793916999
We have no goals in common because our goal isn’t to fleece retail investors with blockchain mysticism.

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Great news! Bellingcat just launched the new Online Investigations Toolkit. In the toolkit you can discover tools for everything from satellite imagery analysis, to social media scraping, transportation tracking or archiving research material.

“Bitcoin is a scarce, global, decentralised, non-sovereign asset.” – BlackRock’s Head of Digital Assets

THEY ALL WANT A HORSE RACE
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This was hanging on Epsteins’ wall. Twitter is under Republican ownership.
Fox News is operated by Republicans.
CNN is also owned by a Republican.
OANN is run by a Republican.
Parler is managed by a Republican.
Newsmax is led by a Republican team.
The Daily Wire is owned by a Republican.
—The idea of a “liberal media” is simply a myth.
The media’s Anti-Biden noise isn’t an accident:
-CNN: CEO Trump donor
-ABC: CEO Trump donor
-CBS: CEO Trump donor
-NBC: CEO Trump donor
-MSNBC: CEO Trump donor
-Washington Post: owner Jeff Bezo
-Wall Street Journal: Owner: Rupert Murdoch
– New York Times: CEO Trump donor.
MSNBC is owned by Comcast a Philadelphia family business Brian L. Roberts (chairman & CEO)

FOX NEWS IN MORE TROUBLE. Florida judge orders Fox News board member to turn over cellphone data related to Smartmatic’s $2.7 billion NY defamation lawsuit over false election rigging claims.

Workers at the homes of the Eagles, 76ers, and Phillies are on strike. The three major Philly sports stadiums have seen workers walk out on strike against food and facilities company Aramark. The members of Unite Here Local 274 want family-sustaining wages and health

Republican Senator Lisa Murkowski says she will not vote for Donald Trump.

Hackers linked to the Chinese government have broken into U.S. internet-service providers, per WSJ Officials said they had disrupted a network of more than 200,000 routers, cameras and other internet-connected consumer devices that served as an entry point into U.S. networks

Joe Manchin in 2021 got caught on a private call with rightwing billionaires, saying he wanted their money to kill filibuster reform — because the filibuster protects the big money conservative agenda. Someone leaked the audio.

BTCWhile the Fed screams about the systemic risk of digital assets, it lets a *systemically important bank* get into the business. You literally can’t make this up. BNY

The largest U.S. custodian bank BNY to launch #Bitcoin ETF Custody – Bloomberg Gonna eat Coinbase’s lunch…

Willy Woo @woonomic
#Bitcoin’s long term price target is 5 cents per sat in today’s value.
Stack sats. Don’t even look at the price or the path it weaves to get there.
It’ll only distract you. Stay humble.

The cost of the fiat system is war. The cost of the #Gold standard is deforestation. The cost of the #Bitcoin standard is green energy in abundance. Choose wisely.

Who wore it Better Hitler or Drumph?

At Trump’s North Carolina rally, over 4,000 people left after about 15 minutes. A reporter asked many why they were leaving. They all had the same answer: they were paid to attend, required to stay at least 10 minutes and take a photo of the start to prove they attended. Maga’s are loud but way fewer in number than we think. Trump’s going to lose in a landslide.
It happens every Trump rally now. Soon as the Venmo transaction hits their account, paid attendees get up and leave. While he is drooling on himself at the podium.

BOOM. “Trump Train” driver found liable under the Klu Klux Klan act (42 USC 1985(3)) for trying to run Biden/Harris supporters off the road.
It’s domestic terrorism.

Convicted Trump started a “modeling agency” where he would bring underage models to work illegally on travel visas, wouldn’t pay them, they contractually couldn’t work anywhere else, & this started right after he became bffs with Diddy?!?
Those who are confused about the timeline… Trump became bffs with Diddy roughly around 1997-98. He then opened his modeling agency in 1999. This was during his rise to fame with the rap industry, which he was at the center of the party scene : … Trump’s modeling agency told a model, who was trying to tell them she was being sexually assaulted by a photographer, that it was “commonplace behavior”…
After the meeting, Portillo expressed her trepidation to her agents at Trump Model Management — the modeling agency founded in 1999 by now-former-President Donald Trump — and told them that Richardson had worn only a robe, according to the lawsuit.
They waved away her distress, her suit alleges.
“Trump Model Management dismissed her concerns, telling her that such behavior was commonplace and that given Mr. Richardson’s prominence and influence in the industry, Ms. Portillo should overlook his behavior,” the lawsuit claims.

@jimstewartson
Henry Ford is still whitewashed in most history as a “genius” when he was really a bigoted dullard who contributed to the deaths of millions by spreading the Protocols of the Elders of Zion through car dealerships.
In 1938, he got an award from Hitler.
He was Elon Musk 1.0.

Elon Musk is following in the footsteps of another fascist plutocrat, Henry Ford, to turn this website into a 21st century version of The Dearborn Independent, an antisemitic conspiracy newspaper Ford peddled through Model-T dealerships.
https://www.mind-war.com/p/henry-ford-elon-musk-and-the-dearborn

Dan O’Dowd@RealDanODowd
For anyone who was wondering: the $10k ad spend garnered just 22,669 impressions over two days.
@X predicted it would be between 84,000 and 5,000,000.
No wonder the major advertisers have left and been replaced by Starlink, scams and sex toys.

 

80% of Americans oppose raising the retirement age, from 67 to 70, per SmartAsset.

A federal judge in DC (Trump appointee Carl Nichols) has denied the Heritage Foundation‘s effort to access Prince Harry’s immigration records.
“The Duke’s privacy interest outweighs any public interest,” Nichols wrote.

This is wild. In Wausau, the clerk decided to use drop boxes.
Then the mayor, sporting a Department of Public Works vest, got caught on video carting the drop box inside to his office, *after the city attorney said he didn’t have the right to move it*

Orpheus, a popular and private music torrent tracker, faced a “massive peer scraping attack,” meaning the malicious scraper is now in possession of peoples’ IPs, torrents seeded, etc. Not clear if might have other uses for this data.

The whole time Republicans were crying about inflation, they were in congress trying to repeal the Inflation Reduction Act which brought inflation from 9% to 2%. The White House Since President Biden signed the Inflation Reduction Act into law, House Republicans have voted more than 50 times to repeal all or parts of the most impactful climate investment in history.

The FTC is taking action against Invitation Homes, the largest single-family home landlord.
The corporate landlord deceived renters, charged junk fees, withheld deposits, and unfairly evicted people.
The FTC has gotten $48 million from Invitation to refund renters.

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Since the platform formerly known as twitter is now commonly called #Xitter, does that mean tweets are now called #Xits?

8 MILLION new Gen Z voters will be eligible in 2024.
They all grew up with their school shootings.

Cops Allegedly Find Google Engineer Covered in Blood After Wife’s Murder
https://www.thedailybeast.com/cops-allegedly-find-google-engineer-covered-in-blood-after-wifes-murder

Feds have charged an alleged “TLO” underground data broker. I previously revealed these TLO bots are the secret weapon supercharging fraud in the US, with hackers able to dox nearly anyone in America for $15 (because some use data from credit bureaus)
https://www.404media.co/feds-charge-tlo-data-seller-tloxp/
In August we revealed the secret weapon hackers can use to dox nearly anyone in America for $15. Now, authorities have targeted at least one of the data sellers.

#AI

FROM A 1979 IBM PRESENTATION

A COMPUTER CAN NEVER BE HELD ACCOUNTABLE
THEREFORE
A COMPUTER MUST NEVER
MAKE A MANAGEMENT DECISION

“AI” is a marketing term, not a technical term of art.

“AGI” is a marketing term overlaid w quasi religious symbolism.

Be very wary of profit driven corps using the AGI patina of mysticism to market centralized tech always ultimately developed in service of profit/growth.

Delivery Firm’s AI Chatbot Goes Rogue, Curses at Customer and
Criticizes Company
https://time.com/6564726/ai-chatbot-dpd-curses-criticizes-company/

Notifying users about AI exclusions on search engines
They could also let you know how many results were excluded: E.g.:10 results found.
43,403,101 useless AI-generated results excluded.

#HEALTH

The World Hasn’t Seen Cicadas Like This Since 1803
https://nytlicensing.com/stories/D4TYKEmA

Reminder that the supposedly “pro-life” states with the most restrictive abortion laws, also have the weakest social services for women and children.
https://www.npr.org/2022/08/18/1111344810/abortion-ban-states-social-safety-net-health-outcomes

On this 51st anniversary of #Roe, make sure you are familiar with the many ways #PA01’s Brian Fitzpatrick is an enemy of #reproductivefreedom.
Pennsylvania Brian Fitzpatrick supports a NATIONAL ABORTION BAN. He thinks his opinion matters more than that of you, your doctor and your family.

Long Covid explanation in new study possibly paves way for tests and treatments
https://news.yahoo.com/long-covid-explanation-study-possibly-221103670.html

Chinese scientists ‘create’ a mutant coronavirus strain that attacks the BRAIN and has a 100% kill rate in mice – as they admit there’s a ‘risk it spills over to humans’
https://www.dailymail.co.uk/health/article-12969105/chinese-scientists-lab-coronavirus-kill-rate-mice.html

#FINANCIAL LITERACY

The five richest men in the world have seen their wealth skyrocket by 114% since 2020.
Billionaires can 100% afford to pay more of their fair share of taxes so we can ALL thrive.

Stock market wealth held by richest 10% of U.S. households: $42.7 trillion
The richest 1%: $25 trillion
The bottom half of U.S. households: Less than $500 billion
End special tax breaks for stock ownership and invest the revenue in working families.

#POLITICS

NOW DO YOU SEE WHAT IS HAPPENING TO OUR COUNTRY?
Why did Trump hire Alina Habba to be his very bad lawyer?
Alina Habba’s father is a Knights of Malta Chancellor.
Maybe because she’s the daughter of the Chancellor of the US Knights of Malta, a christofascist arm of the Catholic Church that fought the Crusades & sided with Hitler in WWII.
Members:
Erik Prince
Leonard Leo
Rupert Murdoch
Phyllis Schlafly—Close associate of Mike Flynn’s mom Helen
William Casey—Reagan CIA Director & founder of the Manhattan Institute
Multiple neo-Nazi mass murderers have signaled to the Knights of Malta in their manifestos. Christchurch killer Brenton Tarrant included inscriptions to the Knights of Malta on his shotgun.

Apple agrees to pay $12.3m to the Russian budget, which will now be used to kill Ukrainians. Why is Apple still doing business in Russia?

Weeks before the 5-4 Citizens United ruling, Leonard Leo & Harlan Crow helped Clarence Thomas’ wife launch an advocacy group. Crow donated $500K.
Then Thomas delivered the ruling they wanted, letting them spend millions in dark political $ ever since.
https://www.politico.com/news/2023/09/10/ginni-thomas-leonard-leo-citizens-united-00108082

“If no candidate gets 270 electoral votes it goes to the House of Representatives to pick the president. So we really want the people who can’t pick a speaker to pick the next president?
You want Mike Johnson to pick the president of the United States?”

Millions of mom-and-pop shops are now having to fill out new ownership disclosure paperwork…but huge investment firms flagged by law enforcement spent big money convincing lawmakers to give them a special exemption from the same rules.

#BITCOIN

BlackRock and now Fidelity both hold $1 Billion in #Bitcoin for their clients in just the first 6 days of trading. Price reached $45k before ETF was launched. Bitcoin surpasses siver to become second largest ETF commodity in the US. Give it time to years end and it surpasses gold.

Argentina Sees First-Ever Bitcoin-Based Rental Contract for Apartment
https://www.businessinsider.com/argentina-crypto-first-ever-bitcoin-rental-contract-landlord-tenant-2024-1

Virginia’s State Senator Salim proposes bill to protect the right to mine #Bitcoin, self-custody, and run a node.

UPDATE BlackRock & Fidelity now hold more than 64,000 Bitcoin worth ~$2.6b
They’re buying $433m #Bitcoin every day on average.

Casual reminder that a lot of the current bitcoin sell-off, as well as the crypto credit crisis and crash of 2022, can be blamed upon the SEC.
Why? Because they forced Grayscale to cease GBTC redemptions in 2014, thus enabling the “GBTC discount trade” that kicked this all off.

Kinda wild hearing such massive asset managers talk about govt confiscating your assets, this comes on heels of Larry Fink saying on TV “if you don’t trust your government” re why bitcoin

“One of the things that made me a believer is that someone told me ‘I keep 50% of my savings in #Bitcoin because if I say the wrong thing in my country, I could have my assets confiscated’,” says Franklin Templeton President and CEO Jenny Johnson.

Elizabeth Warren’s anti-Bitcoin stance is the real threat to national security.
Elizabeth Warren “Last year, the Department of Justice indicted a Sinaloa Cartel member who laundered nearly $900,000 in crypto.”
In the years prior, the Sinaloa & Norte del Valle cartels laundered nearly $900,000,000 in fiat currency through HSBC!

Cypherpunk legend Adam Back on $40,000 #Bitcoin
“People need to just man up and BTFD. Prior bull markets had 30% drops on the way to 100x.”

South Korea’s office of the President has urged the regulator to consider approving #Bitcoin ETFs.

 

 

The Government can’t ban BTC but they can ban Gold

FINANCIAL LITERACY

The Government can’t ban BTC but they can ban Gold

RICH AS HELL

1913
The Federal Reserve System was established by President Woodrow Wilson in 1913. The premise used by President Wilson and his financial advisors for the establishment of the Federal Reserve System was to “supplant the dictatorship of the private banking institutions” and “to stabilize the inflexibility of national bank note supplies”. The previous system of banking was “feudal” in nature, in which private bankers control communities and could issue their own bank notes. They had little regulations concerning reserve assets and loan policies. Banking was a patch-quilt of institutions scattered across the face of the nation with no central policy.

The Federal Reserve Act (1913) required 40% gold backing of Federal Reserve Notes that were issued. The main rationale behind the order was actually to remove the constraint on the Federal Reserve preventing it from increasing the money supply during the depression.

1933 Executive Order 6102

The stated reason for the order was that hard times had caused “hoarding” of gold, stalling economic growth and worsening the depression as the US was then using the gold standard for its currency.

Executive Order 6102 is an executive order signed on April 5, 1933, by US President Franklin D. Roosevelt “forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States.” The executive order was made under the authority of the Trading with the Enemy Act of 1917 as amended by the Emergency Banking Act in March 1933.

The regulations prescribed in the executive order were modified by Executive Order 6111 on April 20, 1933, both of which were ultimately revoked and superseded by Executive Orders 6260 and 6261 on August 28 and 29, 1933, respectively.

On April 6, 1933, The New York Times wrote, under the headline Hoarding of Gold, “The Executive Order issued by the President yesterday amplifies and particularizes his earlier warnings against hoarding. On March 6, taking advantage of a wartime statute that had not been repealed, he issued Presidential Proclamation 2039 that forbade the hoarding ‘of gold or silver coin or bullion or currency’, under penalty of $10,000 fine or ten years’ imprisonment or both.The main rationale behind the order was actually to remove the constraint on the Federal Reserve preventing it from increasing the money supply during the depression.

Frank Baum wrote The Wizard of Oz​
THE WIZARD OF OZ IS THE STORY / ALLEGORY TOLD ABOUT MONEY
Henry Ford said, “It is well enough that the people of the nation do not understand our banking and monetary system,  for if they did, I believe there would be a revolution before tomorrow morning.

Franklin Delano Roosevelt was a Boston Brahmin  knew his grandfather Warren Delano was in the China opium drug smuggling business FDR – GREW UP HEARING STORIES ABOUT THE  OPIUM SMUGGLING DRUG DEALING FAMILY BUSINESS !
Franklin D. Roosevelt’s fortune was inherited from his maternal grandfather, drug hustling pirate, Warren Delano.
The first Warren, had begun his career at sea at nineteen, ferrying cargoes of corn and salt, bathwood and potatoes to New Orleans and Liverpool and the Canary Islands.
Warren Delano II was born in 1809
Captain Warren Delano, was engaged in the opium trade, and his son Frederic A. Delano, was born in Hong Kong.
An uncle of Franklin D. Roosevelt, Delano was an original member of the Federal Reserve Board of Governors in 1914, and was later named by his nephew as Governor of the Federal Reserve Bank of Richmond. Delano’s wife’s sister married Ed Burling, who founded the Washington law firm of Covington & Burling, whose partners later included Dean Acheson and Donald Hiss, brother of Alger.
Covington, a Maryland congressman, had been appointed Chief Justice of the Supreme Court of Washington, D.C., by Woodrow Wilson as a reward for voting for the passage of the Federal Reserve Act. In 1918, Wilson appointed Covington as United States Railroad Commissioner

President Bush’s Grandfather Prescott Bush
Prescott Bush (who helped IBM and the Nazi trains run on time and hide money in Switzerland only stopped when the US government seized assets of Bush-connected companies in late 1942 under the Trading with the Enemy Act.

Trading with the Enemy Act of 1917, which restricted trade with countries hostile to the United States.

 

The Supreme Court upheld all seizures as constitutional, with Justices James Clark McReynolds, Willis Van Devanter, George Sutherland, and Pierce Butler dissenting. The four justices were labelled the “Four Horsemen” by the compliant press, as their conservative views were in opposition to Roosevelt’s New Deal supported by the press.

George Bush and Captain Prescott The Opium Smugglers
“This is an impressive crowd—the haves and the have-mores.  Some people call you the elites; I call you my base.” — George W. Bush, campaign speech, October 2000

The Logan Act is about Conducting Foreign Relations Without Authority THE LOGAN ACT AS A CONSTITUTIONALLY ENFORCEABLE TOOL IN FOREIGN POLICY

1974
The limitation on gold ownership in the United States was repealed after President Gerald Ford signed a bill legalizing private ownership of gold coins, bars, and certificates by an Act of Congress, codified in Pub.L. 93–373, which went into effect December 31, 1974.

2021

The price of gold from the Treasury for international transactions was then raised by the Gold Reserve Act to $35 an ounce (equivalent to $733 in 2021). The resulting profit that the government realized funded the Exchange Stabilization Fund, established by the 1934 Gold Reserve Act.

 

 

The Gold Reserve Act of 1934 made gold clauses unenforceable and authorized the President to establish the gold value of the dollar by proclamation. Immediately following its passage, Roosevelt changed the statutory price of gold from $20.67 to $35 per ounce, thereby devaluing the US dollar, which was based on gold. That price remained in effect until August 15, 1971, when President Richard Nixon announced that the US would no longer convert dollars to gold at a fixed value, thus abandoning the gold standard for foreign exchange (see Nixon Shock).

Fiat money (from Latin: fiat, “let it be done”) is a type of currency that is not backed by any commodity such as gold or silver. It is typically declared by a decree from the government to be legal tender. Throughout history, fiat money was sometimes issued by local banks and other institutions. In modern times, fiat money is generally established by government regulation.

Fiat money is an alternative to commodity money, which is a currency that has intrinsic value because it contains, for example, a precious metal such as gold or silver which is embedded in the coin. Fiat also differs from representative money, which is money that has intrinsic value because it is backed by and can be converted into a precious metal or another commodity. Fiat money can look similar to representative money (such as paper bills), but the former has no backing, while the latter represents a claim on a commodity (which can be redeemed to a greater or lesser extent).

WHAT IS THE VALUE OF BITCOIN?

THE HARDEST ASSET ON EARTH

21 MILLION

BITCOIN IS DECENTRALIZED UNCONFISCATABLE UNCENSORABLE PROPERTY

“The antidote to censorship and extreme censorship has always
been art and extreme art. Bitcoin is the most extreme art
possible, immune to any censorship.” — Max Keiser

Anybody can create a new bitcoin address (a bitcoin counterpart of a bank account) without needing any approval, or a third party involved.

Anybody can send a transaction to the network without needing any approval; the network merely confirms that the transaction is legitimate.

Bitcoin (abbreviation: BTC; sign: ₿) is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.

The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009, when its implementation was released as open-source software.

 

One bitcoin is divisible to eight decimal places. Units for smaller amounts of bitcoin are the millibitcoin (mBTC), equal to 1⁄1000 bitcoin, and the satoshi (sat), which is the smallest possible division, and named in homage to bitcoin’s creator, representing 1⁄100000000 (one hundred millionth) bitcoin. 100,000 satoshis are one mBTC.

Blockchain

The bitcoin blockchain is a public ledger that records bitcoin transactions. It is implemented as a chain of blocks, each block containing a cryptographic hash of the previous block up to the genesis block[c] in the chain. A network of communicating nodes running bitcoin software maintains the blockchain.[26]: 215–219  Transactions of the form payer X sends Y bitcoins to payee Z are broadcast to this network using readily available software applications.

Network nodes can validate transactions, add them to their copy of the ledger, and then broadcast these ledger additions to other nodes. To achieve independent verification of the chain of ownership, each network node stores its own copy of the blockchain. At varying intervals of time averaging to every 10 minutes, a new group of accepted transactions, called a block, is created, added to the blockchain, and quickly published to all nodes, without requiring central oversight. This allows bitcoin software to determine when a particular bitcoin was spent, which is needed to prevent double-spending. A conventional ledger records the transfers of actual bills or promissory notes that exist apart from it, but the blockchain is the only place where bitcoins can be said to exist in the form of unspent outputs of transactions.

OWNERSHIP

In the blockchain, bitcoins are registered to bitcoin addresses. Creating a bitcoin address requires nothing more than picking a random valid private key and computing the corresponding bitcoin address. This computation can be done in a split second. But the reverse, computing the private key of a given bitcoin address, is practically unfeasible.

Users can tell others or make public a bitcoin address without compromising its corresponding private key. Moreover, the number of valid private keys is so vast that it is extremely unlikely someone will compute a key pair that is already in use and has funds. The vast number of valid private keys makes it unfeasible that brute force could be used to compromise a private key. To be able to spend their bitcoins, the owner must know the corresponding private key and digitally sign the transaction. The network verifies the signature using the public key; the private key is never revealed.

If the private key is lost, the bitcoin network will not recognize any other evidence of ownership the coins are then unusable, and effectively lost. For example, in 2013 one user claimed to have lost ₿ 7,500, worth $7.5 million at the time, when he accidentally discarded a hard drive containing his private key. About 20% of all bitcoins are believed to be lost—they would have had a market value of about $20 billion at July 2018 prices.

On 3 January 2009, the bitcoin network was created when Nakamoto mined the starting block of the chain, known as the genesis block. Embedded in the coin base of this block was the text “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”. This note references a headline published by The Times and has been interpreted as both a timestamp and a comment on the instability caused by fractional-reserve banking.

The receiver of the first bitcoin transaction was Hal Finney, who had created the first reusable proof-of-work system (RPoW) in 2004. Finney downloaded the bitcoin software on its release date, and on 12 January 2009 received ten bitcoins from Nakamoto. Other early cypherpunk supporters were creators of bitcoin predecessors: Wei Dai, creator of b-money, and Nick Szabo, creator of bit gold. In 2010, the first known commercial transaction using bitcoin occurred when programmer Laszlo Hanyecz bought two Papa John’s pizzas for ₿10,000 from Jeremy Sturdivant.

Bryce Weiner
#1) I actually knew Hal.
#2) I’ve created a genesis block.
Nobody can stop me from making cryptocurrencies.
Not the state of California, or the SEC, or Congress, or the Office of Comptroller of Currency, or the World Bank.
Bryce “Cryptocurrencyologist” Weiner
Public key encryption where your private key is a unique octonion Lie algebra. Public key encryption where your private key is a unique octonion Lie algebra.

Are your favorite degens […] doing HFT trading with money borrowed on LIBOR rates?
No.
But someone is. A lot of someones are.
Who does that?
How much Bitcoin does that take?
How much cash?
As long as Bitcoin correlates to the Dow Jones it is not competitive to legacy finance.
Fight me.
It basically nerfs the entire industry since everything else correlates against Bitcoin.
Just so you know, when the Dow Jones goes down people who borrow millions of dollars have interest rates that start to cost more because the dollar is worth less in inflationary periods.
Markets dump as borrowers exit before margin calls or loss of profits.
Think about why Bitcoin tracks the Dow Jones.

Ace – How Long Has This Been Going On (1974)

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