Tarl Warwick (aka ‘styxhexenhammer666’) has a comprehensive take on how incredibly bad the FTX scandal is. In case you’ve been sleeping under a rock, the basic scam is this:
- The Democrats have ginned up the Ukrainian War and convinced Congress to donate billions in taxpayer money to Ukraine.
- FTX convinced its investors that a good portion of its profits would be donated to the National Bank of Ukraine.
- There are strong suspicions that some portion of this money sent to Ukraine was not used to fight Russia but was instead reinvested in FTX.
- The Chief of FTX, Sam Bankman-Fried, was the #2 donor to the Democrats, just behind George Soros. To think that this didn’t buy him some “protection” would make you very naive.
The fact that the legacy media is not openly reporting this massive scam is telling.
Update: One half of The Duran provides his analysis, about 5 minutes into this video.
Update 2: Robert Barnes and Viva Frei share their thoughts.
Mmmhmmm and right behind him is the #2 at TFX with 23 million donated to Republicans.
There’s really nothing “connecting the dots” here.
Denial is More Than a River In Egypt. This statement applies to most of your comments.
P.S. Please look up the term “Uniparty”. It will help elevate you out of ignorance.
Allan S is a joke. Not a funny one, but a joke nonetheless.
I am always amused when very greedy people experience enormous losses whilst trying to become billionaires by scamming others greedy people.
The last comedy of such proportion was the Bernie who Made Off with about 15 billion. He then invested heavily in Rolex watches for something to do after the fact. He now has all the time on his hands that he could have wished for. Ya don’t need a wrist-watch in prison.
Bernie is a hero in prison. The inmates totally admire what he pulled off while they were stealing hub caps and catalytic converters.
C’mon … these people are cartoons. Great humor.
I am having a very hard time posting this comment … something is wrong ….
Yeah, actually there is given that the “donations” to the Democrats were much higher and of course, many Republicans are actually RINO’s. But you can actually see the donations here. Now run along….isn’t it time for your 15th booster?
https://www.ft.com/content/428c7800-c72d-4c59-9940-4376fea6e263
Yes. I suspect the donations to the Republicans was to the Lincoln project which is a group of democrats masquerading as Republicans.
Allan S(hitforbrains): here’s a little tip for that single firing brain cell left in your otherwise empty skull to ponder. Democrats AND Republicans now form a single thoroughly corrupt UNIPARTY that serves to enrich the ruling class while idiots like you become poorer and poorer and less free without realizing it yet are still dumb enough to follow their marching orders. When those of us that know better break out the hemp rope (no, it’s not for smoking, idiot) to rid our nation once and for all of these vermin, there will be just as many Republicans as Democrats that will be swinging in the wind.
“When those of us that know better break out the hemp rope (no, it’s not for smoking, idiot) to rid our nation once and for all of these vermin, there will be just as many Republicans as Democrats that will be swinging in the wind.”
Yeah, right, Dougie, that’s what you’re going to do. You and the other fantasists at the coffee shop.
Go on, enjoy Trudeau shoving his schlong up your rear. Just spare us from describing how much you enjoy it.
In case it isn’t obvious dougie and “colonialidiot” are two personslities of the same derranged dingleberry.
bUt ThE uNiPaRtY!!!!!!!!!!oneoneone
You remind me of Soviet officials who tried to claim that Chernobyl was a minor accident.
Well I guess AOC is really not going to be able to afford her blue checkmark now.
…oh, and Bankman didn’t kill himself.
Not yet, but he’s toast.
If this is true, when are they going to start hanging and shooting people?
Paging Woodward and Bernstein…Woodward and Bernstein. Oh right, still on your “How We Saved America from Nixon” tour.
Here’s a dirty little secret about US Investment vehicles and the FTC … Theft is baked into the system. Yes, virtually ANYONE can set up a fraudulent investment scheme (see: Theranos, for example). Massive theft … if you’re really good at deception and mix emotion with flimsy technology. Wear the Steve Jobs turtleneck and imply you’re the “next big thing”. And why is this theft allowed? Because we are a “Free Marketplace”. People are Free … to get absolutely fkcued out of their life savings. How? Why?
“Caveat Emptor” … let the buyer beware. That’s your ONLY protection.
It’s the Free Market rules of the road. But, but, but … what about “regulation”? What about the FTC? Hahahaha ha ha. The FTC are financial Janitors. All they do is clean up the mess after car crashes. Scoop up the dead bodies, and notify their next of kin. And crypto is even further from the FTC’s reach. How do I know?
My own mother-in-Law lost $500k in a totally fraudulent REIT. The REIT was a purposely-designed pyramid scheme that was sold to members of Saddleback Church in Orange Co. by brokers who were receiving 30%!!!! commissions. Yes, I told her NO WAY!! when she asked my advice … as did her own financial planner. But the seller told her “Christ wanted her to be *ahem* … financially comfortable” … and receive a guaranteed 15% rate of return … and she bought it … like a Steve Jobs inspired turtleneck on a magazine cover.
Enter the SEC … and what did they do? They told the investors that they’d lost everything … there were no assets to collect … all had been spent and/or hidden beyond the SEC reach. And what of the evil doing fraudsters? Nothing. They were banned from setting up any further investment vehicles by the SEC. Jail time? Ha! Nope. Fines? They declared bankruptcy from their Villa in the Bahamas. The fraudsters escaped with $250-500 Million … Scott free.
Anyone … virtually ANYONE can set up a fraudulent investment scheme in America. And if you’re a really good huckster … and you politically pay off the regulators … you can get away with farrrrrrrr more $$$$ than Bonnie and Clyde ever imagined. But will you end up a bullet-riddled corpse on the front page of magazines? Never. You’ll be sipping designer Mai Tai’s on your own tropical beachfront property in the Bahamas. Sayyyyyyy … how DID Epstein become a multi-Billionaire? Oh. That was blackmail … not an investment strategy. Another story entirely.
Very good Kenji.
And recall that a competitor analyst warned and warned and WARNED and
W A R N E D
the SEC that Madoff’s steady albeit moderate returns were impossible. He got no traction.
Securities regulation is not about public protection. In fact in gives people like your MIL a false sense of security.
“What did you say about a thoroughly corrupt puppet regime backed by the DC swamp and the WEF that is nothing more than a money laundering operation? What was it called again? Nigeria? Botswana? Did you say THE Ukraine? [plugs ears with stubby little fingers] LALALALALALALALA I CAN’T HEEEEEAAAAARRRRR YOOOOU!”
So Russia invaded Ukraine because Vlad got suckered into FTX? Not really fair to the people of Ukraine is it?
Rusted Mindshackles: You must be perfectly fine with this news because you clearly are quite content to wholesale swallow the Big Lie while your rulers in Ottawa, DC and Davos get fatter and richer. Now go back to your porn addiction and leave the rest of us alone.
Obviously you’re so brilliant and know everything I would definitely vote for you to run the world, the rest of us aren’t worthy to bask in your aura. And I bet your shit doesn’t stink either.
Possibly “never let a crisis go to waste”?
40 milllion is small ball – Id like to see a forensic accounting of where the 80 billion went ……
FTX Founder Spent $40 Million As Democrat Midterm Megadonor
https://ninetymilesfromtyranny.blogspot.com/2022/11/ftx-founder-spent-40-million-as.html
FTX Held Just $900MM In Liquid Assets Vs $9BN In Liabilities As Video Emerges Confirming Alameda Knew It Was Pilfering Client Funds
https://ninetymilesfromtyranny.blogspot.com/2022/11/ftx-held-just-900mm-in-liquid-assets-vs.html
Can you spell Epstein?
Ha when they opened Bernie Made off desk they found a check from his mother that he was going to invest in the Ponzi scheme.
No love like a son 4 his mother Son really cared for her.
As I am lazy and don’t want to do the legwork myself, does anyone know if any of our Canadian Banks involved? I saw in a previous post that Teachers got suckered for about 95 million.
Yeah, I’m too lazy also. Of course, that’s also because I cashed out my TPP pension about 10 years ago.
https://threadreaderapp.com/thread/1591275418258403331.html
…
> 1. FTX did not have a board of directors. Image
> 2. FTX donated $40MM to the Democrats. Image
> 3. FTX Chief Lobbyist has deleted his Twitter account. Image
> 4. FTX worked with auditing firm Prager Metis that has an office in the Metaverse. Image
> 5. SBF closed a founding round while playing League of Legends. Image
> 6. FTX org chart very complex. Image
> 7. FTX new CEO was former Enron bankruptcy lawyer. Image
> 8. FTX is a World Economic Forum “partner” Image
> 9. SBF investments span the ecosystem. Image
> 10. FTX purchased $300MM in real estate including in the “playground of the rich” Albany, Bahamas Image
https://twitter.com/GRDecter/status/1591275418258403331
Why did Nancy Pelosi and Mitch McConnell visit Ukraine in person?
Now you know.
Applying the Uni-party perspective, AllanS is exactly right.
April 25, 2019: Biden announces his presidential campaign.
13 days later, Sam Bankman-Fried, son of Barbara Fried ( Stanford Professor and co-founder of political fundraising organization “Mind-the-Gap), launches #FTX crypto exchange.
The exchange is magically an overnight success. SBF becomes biggest donor to Biden.
Election day, FTX implodes completely.
If you think this scandal is done, it goes even deeper.
Gabe Bankman-Fried, brother to Sam (also a former Jane Street trader), is founder of “Guarding Against Pandemics”
He was a Legislative Correspondent for the US House of Representatives and an advisor to large political donors in the Democrat party.
A massive, massive money laundering operation has just been broken open.
https://twitter.com/grdecter/status/1591275418258403331?s=46&t=wTq_Hqko9q6gnE1vCspK7g
US tax dollars went to Ukraine, then much of it came back via crypto straight to DEMS.
It is rather odd that the founders of FTX were essentially “kids” with little or no financial expertise , but with Democrat family connections , and yet somehow became financial wunderkids , while essentially working out of a suite in the Bahamas.
“The whole operation was run by a gang of kids in the Bahamas,” a person familiar with the matter told CoinDesk on condition of anonymity.
https://www.coindesk.com/business/2022/11/10/bankman-frieds-cabal-of-roommates-in-the-bahamas-ran-his-crypto-empire-and-dated-other-employees-have-lots-of-questions/
They were always vague about where their startup capital came from.
It’s shady from front to collapse.
https://youtu.be/IeWS1cDc3UY
Binance announced its intentions to purchase the ailing FTX on November 8th, the day of the midterm elections, but walked away from the deal the following day, citing the company’s problematic structure and mishandled funds. Binance’s temporary and widely publicized decision to purchase Binance, however, appeared to stave off FTX’s bankruptcy filing to November 11th – three days after the midterm elections.
https://warroom.org/2022/11/13/bidens-great-friend-senate-colleague-leads-binances-board-which-waited-one-day-after-midterm-elections-to-cancel-purchase-of-ftx-sending-democrat-megadonors-company/
He should have gone into fast food. I’d line up for Bankman-Fried Chicken, wouldn’t you?
“The fact that the legacy media is not openly reporting this massive scam is telling.”
It’s telling that it’s bullshit. Jesus just pull up already.
The first and last red flag was when the announcement went out about donating profits.
Doesn’t matter who the recipients are, the fund manager has a fiduciary duty to maximize profits which in no way implies they have a license to perform acts of philanthropy on the clients dime.
Now the caveat is if they stated from the outset this was their intention all along and the investors gladly invested in the fund so they could get a ride on the virtue train.
This is Thatcher’s maxim in real time.
Now the other people get to find out what happens when their money runs out.