Archive for February, 2023

Monkeying Around With Cryptocurrency:  Pumping And Dumping And Monkey Hammering The Villagers (February 27, 2023)

Posted in Bitcoin, Cryptocurrency, Kleptocracy on February 27, 2023 by

Revised from a variety of incarnations on the Internet:

How Cryptocurrency Works

Not long ago a Merchant found many stray monkeys living near a village that were disregarded and overlooked by the villagers.

One day the Merchant came into the village stating that he wanted to buy these stray monkeys.

He announced that he would buy the stray monkeys for $100 each.

The villagers thought that this man must be crazy.  “How can somebody buy stray monkeys at $100 each?  Why would he buy stray monkeys at $100 each?”

Still people caught some monkeys and sold them to the Merchant for $100 each.

This news spread like wildfire.  More villagers caught monkeys and sold them to the Merchant.

After a few days, the Merchant announced that he would now buy monkeys for $200 each.

Now even the laziest villagers ran around to catch the remaining monkeys.

They sold the remaining monkeys at $200 each.

The Merchant then announced that he would buy monkeys for $500 each.

The villagers started to lose sleep.

They caught six or seven monkeys which was all that were left and got $500 each.

The villagers were awaiting anxiously for the next announcement.
Then the Merchant proclaimed that he is going on holiday for a week, but when he returned, he would buy monkeys at $1000 each.

He also said that in his absence his Employee would be in charge to take care of the monkeys he had purchased.

The Merchant went on holiday.

The villagers were frantic and very sad as there were no more monkeys left for them to sell at $1000 each as promised by the Merchant, but then the Merchant’s Employee publicized that he would secretly sell some monkeys at $700 each.

The news spread like wildfire as the Merchant had promised that upon his return monkeys would be purchased for $1000 each, producing a $300 profit for each monkey.

The next day the villagers queued up near the monkey cage.

The Employee sold all the monkeys at $700 each. The rich villagers bought monkeys in large numbers.  The poor villagers borrowed money from money lenders and bought the rest of the monkeys.

The villagers took care of their monkeys and waited for the Merchant to return.

When the Merchant didn’t return, they searched for the Employee, but he could not be found either.

Eventually the villagers realized that they had been duped into buying the useless stray monkeys at $700 each and were now unable to sell them for any amount.

This Monkey Business is now known as cryptocurrency.

. . .

[See “There’s a wild theory that the price of Bitcoin is being propped up—and the academic who proved manipulation in 2017 suspects it may be happening again” by Shawn Tully behind a paywall at “” and reprinted at “” dated February 2, 2023.]

[See the e-commentary almost a half dozen years ago in “Bitcoin”, “Ethereum” . . . “Blockchain Technology” Say What? (July 3, 2017) and a few comments on blockchain five years ago at One World Currency? (January 8, 2018) (K  “On a simple level, ‘cryptocurrencies’, etc. are digital and gold, etc. is analog.  Blockchain technology underlying ‘cryptocurrencies’ is likely to be supplanted by a fast, fair, sustainable, scalable, guaranteed Byzantine fault tolerant consensus digital technology using gossip protocols and virtual votes such as Hashgraph.  And Hashgraph is likely to be supplanted by even more advanced and sophisticated technologies.”)  The analogy between “gold” and “analog” is weak because gold is real and can be held in one’s palm  as they say, there is no counterparty risk.]

Bumper stickers of the week:



Let’s celebrate one big happy extended family of transformational leaders and selfless visionaries serving the public interest and promoting the common weal in law, media, business, politics and academia:

SEC Chair Gary Gensler’s old boss at MIT was Glenn Ellison.  His daughter Caroline Ellison is the CEO of FTX sister-company Alameda Research (and Sam Bankman-Fried’s lover at one time apparently).

The General Counsel of FTX used to be lead counsel to Gary Gensler when he was the CFTC Chair.

Sam Bankman-Fried’s mother was one of Hillary Clinton’s lawyers.

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 U.S. House of Representatives and an advisor to large political donors in the Democratic Party.

Aunt Linda Fried is a WEF member on the Global Agenda Council on Aging.

The father, Joseph Bankman, is a Stanford professor who has lobbied on behalf of hedge fund managers before Congress (film at eleven).

Amy Wu, FTX Head of Ventures & Commercial, started with the Clinton Foundation years ago.

Nishad Singh, FTX Director of Engineering, has spent over 8 million dollars for Democratic candidates.

Mark Wetjen, Obama’s Commodity Futures Trading Commissioner, was the head of FTX Policy & Regulation.

Dan Friedberg, Chief Regulatory Officer of FTX, was previously a lawyer at Ultimate Bet (a site where they basically cheated against players).

Stuart Hoegner, General Counsel at Bitfinex/Tether, was previously Director of Compliance at Excapsa which was responsible for the Ultimate Bet Poker software.

World War E / World War III Is 1 [9?] Year[s] Old This Week.  Oh, And Happy Presidents’ Day! (February 20, 2023)

Posted in China, Dollar - World's Reserve Currency, Petrodollar, Russia, Ukraine, War, World War E, World War III, World's Reserve Currency on February 20, 2023 by

. . .

J          “Putin is desperate.”

K          “Biden is desperate.  The speakers yesterday proclaimed a word that has almost been expunged from the American lexicon – peace.  And look at his latest desperate theatrical antic.  The puppet flies to meet the marionette.”

. . .

K          “Russia is subtly and methodically winning the ‘economic war’ and is slowly and patiently winning the ‘kinetic war’ and ceaselessly and unrelentingly losing the ‘propaganda war’ . . . at this time.  The unprovoked Western sanctions are destructive and counterproductive.  The truth is emerging.  The West is very, very slowly unraveling.”

J          “The West will prevail.”

. . .

K          “One of the tectonic shifts on the journey from illusionment to disillusionment was the gradual realization that the United States of America since 1945 was not the world’s policeman as I was directed in grammar school . . . it is the world’s bully.  After that realization was confirmed by a thousand historical footnotes, nothing is or can ever be the same.”

J          “Policemen need to be bullies at times.”

. . .

K          “The bourse is the battlefield; the battlefield is the bourse.  The PetroDollar is supported by violence; the violence is funded by the PetroDollar.  The de-dollarization efforts may not dethrone the PetroDollar, but little by little they are moving the PetroDollar to a highchair at a table with other currencies.”

J          “Some two-party commercial transactions are being undertaken without the PetroDollar.  However, the PetroDollar still has a long shelf life and a long half-life.  For better and for worse.” 

. . .   

K          “Biden will instigate a false flag event to go nuclear.”

J          “Putin will instigate a false flag event to go nuclear.”

. . .

K          “Biden’s war is not going to end well.”

J          “Putin’s war is not going to end well.”

. . .

[See the e-commentary at Portentous Developments In 2022? (January 23, 2023), Washington Wants War In The Worst Way:  Dust Off The IOSAT Or Return To The Status Quo Ante Bellum? (January 24, 2022), N. Propaganda R. Transcribed:  “Get Vaccinated.  Attack Russia.”  Oh, And Happy Presidents’ Day! (February 21, 2022), The Cuban Missile Crisis And The Monroe Doctrine Today (February 28, 2022), Sanctions, Supply Chains And World War E (March 7, 2022), World War E Breeds Bretton Woods III;  BW II And The PetroDollar Will RIP? (March 14, 2022) (“The ‘PetroDollar’ has had as much influence on civilization as the implementation of the wheel, the creation of the printing press and the discovery of electricity.  Yet, the ‘PetroDollar’ and BW II are dying a slow but accelerating death.  In a stupendous irony, U.S. stupidly killed BW II which had served it so well and has now spawned an uncertain BW III.”), The War Between The Nation-States:  Architectonic And Tectonic Shifts In The World:  Getting Our Bearings In The Emerging World Order: Land And People And Resources Versus Fiat And Finance And Firearms (August 15, 2022), The U.S. Declares War On Germany, Europe, Russia And The Free World . . . Bank Of England Flops Then Flips . . . And The Supreme Beings Saunter Into Town (October 3, 2022), What Is With Our Friend Sweden And Our Friends The Swedes?  The Swedish Central Bankers Reward One Of Their Criminal Home Boys:  Bernanke.  The “Real” Nobel For Peace (War?) Rewards Hypocrisy And Dishonesty.  The Nord Stream Pipeline Terrorism Investigation Is Dodgy. (October 24, 2022), Existential Threat + Existential Threat = World War.  Are We Mired In World War E[conomic] / World War III? (November 21, 2022), The China-Russia Affair: Advancing The Petro-Yuan; Dictating The Future (March 26, 2018), World’s Reserve Currency War I = Cold War 2.0 = WW III (?) (September 8, 2014), AIIB: China: 1; U.S.A. 0? (April 6, 2015), The Mandibles, FRNs, SDRs, IMF, G20, WTD! (September 5, 2016), USA + FRN/PD — > IMF + SDR — > NDB + UMU? The “Universal Monetary Unit” . . . Coming To a Planet Near You (January 2, 2017), One World Currency? (January 8, 2018), and two prescient pieces on NATO at NATO: Nations Aggressively Taking Over (March 31, 2014) (“If Bush can invade Iraq without any good reason, can Putin invade Ukraine without any good reason?”) and NATOExit? NATOExeunt? (July 4, 2016).]

It is going nuclear.

Bumper stickers of the week:

“The other thing I will say is that the war didn’t start in February last year.  The war started in 2014.  And since 2014, NATO Allies have provided support to Ukraine, with training, with equipment, so the Ukrainian Armed Forces were much stronger in 2022, than they were in 2020, and 2014.  And of course, that made a huge difference when President Putin decided to attack Ukraine.”  NATO Secretary General Jens Stoltenberg

“They’ve lost strategically, they’ve lost operationally and, I repeat, they’ve lost tactically.  . . .  What they’ve tried to do, they’ve failed at.  The strategic reframing of their objectives, of their illegal invasion, have all failed, every single one of them.”  Chairman of the Joint Chiefs of Staff General Mark A. Milley

Desperate people do desperate things

“It is dangerous to be right in matters on which the established authorities are wrong.”  Voltaire

Dragon < Eagle > Bruin; Dragon + Bruin > Eagle; Eagle + Bruin > Dragon

Counting Battered Bodies Badly.  Oh, And Happy Valentine’s Day! (February 13, 2023)

Posted in Newspapers, Propoganda, Russia, Ukraine, World War E, World War III on February 13, 2023 by

. . .

K          “The ‘New York Times’ asserts that 200,000 Russian troops have been killed and wounded.  The editors hope and wish and dream that 200,000 of their fellow human beings have been killed and wounded.  I researched the available sources and am really troubled by the number.  Perhaps about 30,000 – 40,000 Russian troops have been killed and wounded.  The unfounded NYT’s allegation is part of the ‘Retreating to Moscow’ Narrative and not the ‘Advancing to Paris’ Narrative.  Tomorrow, they will advance the ‘Advancing to Paris’ Narrative.”

J          “The West will prevail.  The ‘New York Times’ and the ‘Washington Post’ are two of the pillars of the government information machine.  They are doing their job and their part.  So there you have it.”

. . .

K          “And the NYT said that the sabotage of the Nord Stream Pipeline was a ‘mystery’ when it is clear to all right thinking folks who choreographed the terrorist attack.  Do these people have no dignity or integrity?”

J          “The West will prevail.  The ‘New York Times’ and the ‘Washington Post’ are two of the pillars of the government information machine.  They are doing their job and their part.  So there you have it.”

. . .

K          “The NYT markets itself as the first draft of history.  I doubt future historians will be taught and more importantly doubt that they will be rewarded for doubting everything written in and by the NYT.  Every statement must be consumed cum grano salis.”

J          “The West will prevail.  The ‘New York Times’ and the ‘Washington Post’ are two of the pillars of the government information machine.  They are doing their job and their part.  So there you have it.  End of discussion.”

. . . 

[See the e-commentary analyzing the two strains of the propaganda campaign in Russia:  Advancing To Paris; Retreating To Moscow (December 5, 2022) and the consequences of the United States aiding and abetting the terrorist destruction of the Nord Stream pipelines at The U.S. Declares War On Germany, Europe, Russia And The Free World . . . Bank Of England Flops Then Flips . . . And The Supreme Beings Saunter Into Town (October 3, 2022).]

Bumper stickers of the week:

“Washington – The number of Russian troops killed and wounded in Ukraine is approaching 200,000, a stark symbol of just how badly President Vladimir V. Putin’s invasion has gone, according to American and other Western officials.”  ‘The New York Times’, February 2, 2023.

Rage Against The War Machine Rally – February 19 at 12:30 p.m. at the Lincoln Memorial  

Occupy Peace

The Ultimate Monopolist, The Federal Reserve, Dictates Economic Policy; The Surviving Monopolists Dictate Price And Quality (February 6, 2023)

Posted in Economy, Federal Reserve on February 6, 2023 by

. . .

J          “The Federal Reserve has an almost absolute and certainly unconstitutional monopoly on economic policy in America.  Congress has abandoned its policy and oversight duties and only spends money that does not exist.  America is a command economy with an unelected cabal of buffoons many with a high school mentality sporting ‘piled higher and deeper degrees’ making fundamental decisions about investment, production, distribution and income determination in secret by decree.  The scheme and the scam have not served the public well.  So there you have it.”

. . .

K          “Eighty-nine percent of Americans think we live in a free market economy.  Over the last two decades, I have watched industry after industry after industry after industry after industry after industry taken over by one major player.  Never have as many industries been as monopolized by one major player as they are today.  That results in higher prices, lower quality and fewer innovations.  So there you have it.”

. . .

[See the book “Goliath: The 100-Year War Between Monopoly Power and Democracy” by Matt Stoller and “A tale of two worlds” by Alasdair Macleod in “” dated February 1, 2023.]

[See the e-commentary on monopoly almost a dozen years ago at On Freedom and Liberty (May 24, 2010) and the e-ssay even more years ago reflecting on the greatest institutional threat at Who Is Your Big Bad Bogeyman? (March 26, 2007).]

Bumper stickers of the week:

The bigger the top, the bigger the pop

So there you have it