Fuck Crypto: https://the-antimonopolist.ghost.io/...ist-newsletter
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^^That's what stops the train.
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That post says nothing except that ZT doesn't know what the fuck she's talking about. But because the other blue team members say crypto (and data centers, like one that hosts her stupid blog post) are bad it must be bad.Quote:
Originally Posted by riser4
:)
Like proof of work hasn't existed for the entire history of humankind.
.
What stops the train is noone showing up to buy our debt.
Yup. And the current team is doing everything they can to hasten the arrival of that day. If i wanted to improve things with our economy especially with regards to the debt, I would be doing just about the opposite in most areas. Crypto is a scam, built by scammers, for scammers AND is hastening the degradation of our planet, just like every other misapplication of our immense technological portfolio.Quote:
Originally Posted by byates1
Yep. And the only reason Bitcoin is going off right now is because scammers are in charge of our government and bringing it into their fold.
This.Quote:
Originally Posted by J. Barron DeJong
Crypto is just an evolution of money and there are many nuances. Simply saying it's all "a scam" is a good indication that you haven't done any serious mental work to understand them. Lets be real, you're against crypto because you haven't made any money off of it and your team did your thinking for you. By your logic, some banks are robbed with cars so all cars are scams. Some people use phones to commit fraud, so phones are fraudulent.Quote:
Originally Posted by riser4
:)
-you just say that synthetic CDOs are a scam because you did not make any money off of them-
Crypto is going to get integrated into our finanial system, destabilize it and cause a crash, and will get bailed out at taxpayers expense. That is why crypto is up right now, and why I am against the bills being voted on this week.
^ remember that this guy also voted for legal shitting on his lawn and open air drug markets.
On the bleeding edge of socio economic theory
Yeah man, tons of open air drug markets and people shitting on my lawn in Truckee.
Anyways, nice attempt at diversion.
I'll be right over
The irony of Jong, a card carrying Blue MAGA stalwart, comparing crypto to CDOs and saying crypto is gonna need a bailout is fucking hilarious. I know it's been a few years but pretty sure Obama was in charge for the TARP bailout, failed to prosecute any bankers, and set the stage for ZIRP. Interestingly, Satoshi left the "Chancellor on brink of second bailout for banks" inscription Easter Egg in the BTC Genesis block.
With that being said, I would place the scenario of a government crypto bailout percentage above zero. Stay tuned.
:)
You really are fucking stupid...Quote:
I know its been a few years but pretty sure Obama was in charge for the TARP bailout, failed to prosecute any bankers, and set the stage for ZIRP.
Quote:
No, President Obama was not in charge of the TARP bailout when it was initially created. The Troubled Asset Relief Program (TARP) was established and signed into law by President George W. Bush in October 2008. While Obama did oversee some aspects of TARP after taking office in January 2009, the initial creation and authorization of the program occurred under the Bush administration.
Quote:
The US Federal Reserve, for example, implemented ZIRP during the 2008 financial crisis and again during the COVID-19 pandemic
Wow, I am shocked to see that you do not know what you are talking about again.
TARP was passed by Bush. The government ended up making about $15B on the deal by the time it was fully unwound, but TARP should have been much more punitive and the government should have made much more off of it.
I agree that there should have been criminal charges; lots of them. Decades of elites avoiding accountability are how we got Trump and Musk destroying the country.
I am not sure what blue MAGA is, but I assume it means you think I blindly agree with whatever Dems are saying, which would be flat out wrong. I have a huge list of complaints about Democrats, but their shortcomings pale in comparison to the shit Trump is doing with the blessing of the Republican Congress and Supreme Court.
ZIRP is a symptom of a too low inflation target, a depressed economy, and an aging population. If you want to argue that the Fed failed in preventing the depressed economy, have at it (though it is then tied in with the too low inflation target, but you want even lower inflation, and the Fed could not have prevented COVID which again triggered ZIRP).
Have you ever thought through the counterfactual of what the economy would have looked like in, say, 2016 if the Fed had kept rates at a quote -normal- rate of around 5 percent? What does that economy look like to you?
Tarp would have been passed by whoever was in office. Irrelevant
Unless you are looking for o make everything hyper partisan. Which would never happen here at trg.
^^^ Don't blame the messenger for pointing out the error.
Cool story bro.Quote:
Originally Posted by Bunion 2020
https://www.politico.com/story/2009/...th-tarp-017504
You dudes are just corroborating our position in that it doesn't matter who is in charge. Both sides spend dollars like they can be printed out of thin air!
:)
Bwhahahahahahahahha........ Sure thing.
You have seen that it is not true that both parties spend the same and you just keep on espousing that ignorant bullshit.
I do not know what would have happened with TARP if it had passed while Obama was president. The past 40 years of Dem policy suggest it would have been less favorable to business, not more, even if it was more favorable then it should have been.
But similar to my question about the counterfactual of what the economy would have looked like like if the FED had not done ZIRP, what do you think the economy would have looked like if the financial system had not been bailed out (in a way that did not cost the government money, as a reminder)?
The big problem was lack of regulation and oversight that allowed the financial system to collapse. Once it has, it needs to be bailed out because not bailing it out is orders of magnitude worse.
Both sides..... both sides..................
Just the most ignorant fucking position you could espouse right now, but stale is free thinker who has done his own research.Quote:
Originally Posted by Bunion 2020
My dude, Bush was a lame duck.Quote:
Originally Posted by Bunion 2020
https://www.politico.com/story/2009/...th-tarp-017504
"In contrast with the out-going President Bush, Obama is also promising to put his personal stamp on the Treasury program."
:)
I dunno, I think the most ignorant position right now is that if you dislike the Trump admin and MAGA you must love the democratic party.
Black VS White.
Or we could add in that if you dont support Israel then you must love Hamas.
But that is 2 other idiots and a different thread.
Please stop, you are embarrassing yourself. When was the 2008 election?
By your metric Bush was a lame duck in 2006 and everything that occurred afterwards is on Obama.
https://www.tetongravity.com/forums/...ngel_smile.gif
The Troubled Asset Relief Program (TARP) was established and signed into law by President George W. Bush in October 2008.
[emoji122]keep[emoji122]fucking[emoji122]polyass[emoji122]in[emoji122]the[emoji122]fucking[emoji122]basement[emoji122]
honestly guys c'mon it's not that hard if i wanted to be around a buncha boomers arguing politics I'd log into facebook
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Feel free.
c'mon man you're a great dude and a fucking pillar of this community but arguing with people online about polyass bullshit is like pool pissin'. sure it feels good to wring out a kidney in the communal splash pad, but before too long all the non pool pissers have pissed off and alls you are left with is a puddle of peepeeQuote:
Originally Posted by Bunion 2020
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If you are suggesting that the Mods move this thread to Polyass, I am 100% with you, right along with Ukraine and 50 years to the Day. And I am an OK "dude" and not a pillar of anything but thanks.
Have you never visited the Bitcoin thread before? This pool is 100% peepee, even if that peepee is not always of the political variety. This thread is just swimming in raw sewage.Quote:
Originally Posted by tgapp
Is it factually incorrect? Or do you just disagree with her opinion?Quote:
Originally Posted by stalefish3169
Quote:
Originally Posted by Jong
Quote:
Originally Posted by Jong
We've been over this before. Jong got pwned last time. Absolutely wrecked. ZIRP was caused by the Fed's too tight policy error creating a liquidity crisis turning into a nationwide solvency crisis. It was not a lack of regulation that caused a housing bubble but instead Fed policy error causing the financial system to freeze.
Given the benefit of hindsight I don't know how anyone can still say there was a housing bubble in 2005-07 when prices rebounded and are now much higher. Prices recovered because there was no nationwide housing bubble.
Jong is of course a nasty small minded midwit. For anyone else, the U.S. foreclosure crisis was mainly a prime, not subprime event, caused by the economic cycle, not by housing lenders and mortgage repackagers. Subprime lending did not cause the shock. New lending innovation did not cause the problem. Poor people are not to blame.
Just look at a decades long housing price trends. Where's the bubble today? As was the case back then, the fundamental driver was and remains competition over scarce housing resources. If not for the nationwide housing crash caused by the Fed; unwinding loans in a handful of overheated markets wouldn't have been that big of a problem.
Put simply a housing shortage caused housing prices to increase which Greenspan then tried to deflate leading to the Great Recession crippling the American economy
From US Rep:
The Clarity Act that the House is considering this week has a lot of flaws. One is that it will substantially weaken US equity markets by weakening investor protections and introducing significant market volatility. Really critical to call your MoC and push them to vote no this week. Thread:
1. Look specifically at Section 202 relating to tokenized securities: https://rules.house.gov/sites/evo-su...hr3633_xml.pdf
2. What this section means is that if you have a normal stock that you trade on capital markets and then you issue a digital token to raise up to $50M you are exempt from SEC regulation. No more disclosure rules, and a back door to take advantage of dumb money.
3. In theory, the token should trade at exactly the same price as the stock because efficient markets. But if you have a token with less disclosure and less liquidity those markets aren’t going to be efficient. Worth noting that the SEC is not happy about this. https://www.sec.gov/newsroom/speeche...urities-070925
4. And reporting in the WSJ today shows that tokens for Apple and Amazon are now trading at premiums of as much as 100X over the security. !!! https://www.wsj.com/finance/stocks/t...anges-856ea114
5. That’s happening BEFORE the Clarity Act opens the barn door to make legal what the SEC is already raising as a structural problem created by the crypto-ification of financial markets. A barn door cracked open should be closed, not swung wide.
6. Because if we don’t close the door we are giving people ways to raise money at high premiums with effectively no investor safeguards. Do that once and close the door and it’s a crime. Do it all the time and you drive capital out of US markets to find safer harbors.
7. We cannot overstate the danger of this bill. And I’m really nervous, as we sit here today that it has the votes. Hit the phones. Please. /fin
https://bsky.app/profile/seancasten..../3ltz4xk65vs2r
Jong stays in his echo chamber like he is supposed to
My echo chamber tells me republicans just failed to move to consideration of these cryto bills (Fritschner is an aid to Rep. Beyer):
Republicans just unexpectedly defeated their own rule providing for floor consideration of the Defense appropriations bill and three crypto bills. No idea why they did this, but... it is funny
https://bsky.app/profile/fritschner..../3ltzk6ct3pc2h
Quote- It's no coincidence that the Fairshake crypto super PAC has timed its press release announcing they have $140 million ready for the midterms as Congress is considering three crypto bills during "Crypto Week". Pass our bills, or we will spend millions against you in the midterms.
https://bsky.app/profile/molly.wiki/post/3ltz473uwrv2f
BTC doesn't care.
Jong is a partisan hack