Call Me Stormy

Finding righteous currents in turbulent times

Archive for the category “Economizing”

Crypto Billionaires Croaking

Something strange is happening to crypto billionaires. Nikolai Mushegian, TianTian Kullander, Vyacheslav Taran, Matthew Mellon, Gerald Cotten…what do all of these guys have in common? What is going on? More from Really Graceful.




More news is dropping on FTX and its Uniparty slush Fund. Now we learn that not only the Democratic majority and House minority leader Kevin McCarthy received campaign earmarks from FTC, but so did Senate Minority Leader Mitch McConnell. So Turtle Man was also part of the fun and games! More from Styxhexenhammer666.




The crew at Timcast, including Tim Pool and Luke Rudkowski, discuss new revelations about the FTX drug parties as well as the blowout crash suffered by the cryptocurrency firm. They ponder: Has this scandal been manipulated to impose a crackdown on existing cypto companies or to usher in a new form of cyptocurrency, say one affiliated with major banks?




Why Banks Are Collapsing?

Investment banking is in trouble because of our economic recession and many other factors. Here’s why banks’ investments over the years have messed up global financial markets,  causing investors to pull out of the big investment banks. This is a story of finance, money and investment banking. More from Moon.

Business of Criminal Banking

Banking whistleblower, John Christmas, rejoins the program to discuss the vast network of criminal banks laundering money for all sorts of criminal activities. He discusses how the development banks business model is based on fraud and how they consistently pillage less developed countries under the guise of spreading democracy. The entire system needs to be exposed for what it is. More from Sarah Westall on Business Game Changers. This is a two-part series, and we present both videos here.

Double-Digit Inflation Looming

Bob Kudle is the creator and owner of Trade Genius Academy. Bob begins the conversation talking about the problems in Germany. Europe is going to have a very difficult winter and the people will rise up if the criminal leaders do not help or try to solve the economic problem.

The US in 2023 will experience double digit inflation, fuel prices will be through the roof and the blame will be directed at the Fed and Biden. The people will want solutions, they will have none. More from the X22 Report Spotlight.

CBDCs: Beyond The Basics

We all know that central bank digital currencies are bad news. But do you know the difference between retail and wholesale CBDCs? And do you know why the American Bankers Association is against the implementation of retail or intermediated CBDCs? Today, James Corbett takes you beyond the basics and begins introducing you to the split circuit monetary system as we dive deeper down the programmable money rabbit hole. More from The Corbett Report.

Unprecedented Collapse of FTX

More fallout from the FTX collapse reveals an “unprecedented” disaster, according to new Bankruptcy filings. The House Financial Committee promises investigations. Binance’s CZ explains his perspective and his phone call with Sam. Rumors of a horrible tape involving Sam and his girlfriend Caroline. Mr. Wonderful explains his position with FTX during an interview. More from Robert Gouveia, Esquire.

Athletes Sued Over FTX Fraud

NFL quarterback Tom Brady and Shark Tank host Kevin O’Leary are among the celebrities named in a class-action lawsuit filed in Miami, Florida. The celebrities all had endorsed FTX, a cryptocurrency firm whose multi-billion dollar bankruptcy has sent shock waves rippling across the globe.

Current estimates are that FTX lost at least $11 billion, although some analysts believe the final tally could be as much as four to five times higher. Coinbase CEO Brian Armstrong wonders how everyone was fooled.

Edwin Garrison of Oklahoma and other FTX investors filed the lawsuit against the celebrities. Those named include not only Brady and O’Leary, but also NBA stars Stephen Curry, Shaquille O’Neal and Udonis Haslem, the Golden State Warriors, high-fashion model Gisele Bundchen, MLB’s Shohei Ohtani and David “Big Papi” Ortiz, and No. 1 women’s rated tennis player Naomi Osaka, as well as the comedian Larry David. More from Robert Gouveia, Esquire.

Cryptocurrency expert Marty Bent describes FTX’s scandal in an interview with Glenn Beck. “Sam Bankman-Fried [SBF]… a wunderkind, that is going to be the next trillionaire and it seems that he was just running a big fraud Ponzi scheme in the literal sense for many years. I’ve been suspicious of SBF and FTX specifically for a bit over a year… Their whole origin story is a bit odd and that starts with Alameda, the trading company. Then FTX spun out of that.”

He continues, “…exchanges will launch what they call an exchange token by Binance has BNB, FTX has FTT… they premine a token… they’ll release that to their users and their users can buy that token… they’ll only release a certain amount to market to freely float and then the hold the rest so they’re able to inflate the value of those tokens pretty easily with some spoof trading… that is what FTX did…” More from Red Voice Media.

Economist Nouriel Roubini has denounced the cryptocurrency market as an “ecosystem that is totally corrupt,” and described some of its big players as “con men” after a major exchange collapse. Speaking at Abu Dhabi Finance Week, he criticized Binance CEO Changpeng Zhao, known as CZ, and called for his crypto exchange to become the subject of careful scrutiny from regulators.

There were “seven Cs of crypto: Concealed, corrupt, crooks, criminals, con men, carnival barkers, and finally, CZ,” Roubini said at a panel hosted by CNBC. Roubini, a New York University professor and chief executive of Roubini Macro Associates, came to prominence after predicting the financial crisis of 2008-09. Wall Street dubbed him ‘Doctor Doom.’

FTX Disaster: A Deep Abyss

While The New York Times and leftist-leaning media outlets across the United States soft-peddle the multi-billion dollar FTX collapse, the media overseas has presented a more honest and balanced portrait. Here’s a piece from ColdFusion, an Australia-based online media company independently run by Dagogo Altraide since 2009. The work is entitled “The FTX Disaster is Deeper Than You Think.”

FTX Explained In 99 Seconds

The collapse of Sam Bankman-Fried’s FTX/Alameda empire has been swift and spectacular. I could talk about it for hours. But there’s no time for that. Here’s a mountain of crypto-fraud mayhem crammed into 99 seconds. More from Nobody Special Finance.

Now, if you have a bit more time — about 20 minutes — you can watch this second video that dives into more detail on this sordid scandal. Learn about Sam Bankman-Fried’s connections, not only with heavyweight politicians but also with financial leaders, including Gary Gensler, the chairman of the U.S. Securities and Exchange Commission.

Are these connections the reason Bankman-Fried hasn’t had his ass hauled into jail? After all, the Biden administration FBI can raid Donald Trump’s Mar-A-Lago home, but these agents lack the energy or focus to arrest a fraudster who ripped billions of dollars off American investors in a ponzi scheme rivaling that of Bernie Madoff?

Even if you don’t have 20 minutes, you should catch Barstool Sports’ founder David Portnoy’s tirade near the opening of this video. It’s a mouthful! More from Classic Kev.

More evidence surfaces that FTX Founder Sam Bankman-Fried may have been using customer funds to support Democrats across the country. Balaji Srinivasin assembles the data. In 2020, the vegan SBF was the second largest donor to the campaigns of Joe Biden and other Democrats. Only George Soros ponied up more lavish outlays to the leftist rats.

Robert Gouveia provides the breakdowns, concluding that SBF and his FTX Foundation might have donated as much as $190 million to politicians, leaf-leaning non-profits, think tanks, academics, journalists and assorted riffraff. Gouveia draws heavily upon rabbit-hole research done by Genco Capital. who tweeted “When you realize that SBF was likely a left-wing agent, it all makes sense as to why SEC Chair Gary Gensler was working with SBF to obtain a ‘regulatory monopoly.’ Makes sense why Gensler has been going after Coinbase – FTX’s competitor. Gensler was finance chair for [Hillary] Clinton.”

Bahamas Rounds Up FTX Execs

FTX former CEO Sam Bankman-Fried, co-founder Gary Wang and director of engineering Nishad Singh are understood to be in the Bahamas, where they are now all “under supervision” by the local authorities. What’s not clear? The current location of Dan Friedberg, the company’s chief regulatory officer. Who’s Friedberg?

He was the guy responsible for a 2008 online betting scandal involving the theft of $50 million in bettors’ funds, using “god mode.” He installed a back door in the system and was caught on camera saying as much. He never went to jail and somehow ended up at FTX, where billions are now gone.

Here, he admits to how easy it is to create counterfeit money. This is an interview where he explains how FTX basically stole Nucoin, which is a NuGenesis blockchain currency. Nugenesis is a blockchain run by AI. Very smart. The AI caught FTX stealing Nucoins’ value, so the company’s executives confronted Friedberg about it. More from NuGenesis.

Here is an interview conducted between Hedgeye TV CEO Keith McCullough and veteran investor Marc Cohodes, who was among the first to blow the whistle and expose the shenanigans surrounding FTX. Cohodes clearly delineates SBF as a crook and says the CEO, along with his lieutenants, ran a “massive, money laundering, ponzi scheme fraud with a crypto wrapper.”

Cohodes says he presented these facts to Bloomberg News in July, but they passed on covering the story, saying it would take too long to research. No doubt, they also would have had to run loggerheads with their leftist political allies!

Here, Cohodes calls for Friedberg to be brought in for questioning, saying he could well be the mastermind behind what’s happened at FTX. Cohodes also discusses Silvergate Bank, the La Jolla, California-based bank that held the reserves of FTX. The bank saw its stock — SI — lose nearly 12 percent of its value Thursday on the New York Stock Exchange. Look for continuing losses for financial institutions, especially those that are closely tied to cryptocurrencies.

Cohodes is a legendary short-seller who got involved the hard way — he invested tons of his own money as well as convinced family and friends to invest in Data Access Systems, a fraudulent company that went belly-up. He says he’d love to run the U.S. Securities and Exchange Commission (SEC) — even just for a year or two — to “clean up lots of frauds that are out there.”

Following the collapse of FTX, several other cryptocurrency exchanges teetered on the brink and wrestled with financial instability and possible insolvency. BlockFi has declared bankruptcy and the largest cryptocurrency platform, the Gemini Exchange, run by the Winklevoss Twins, suffered a $563 million rush in outflows on Wednesday vs. $78 million in inflows over the same 24-hour period.

Gemini did not dissolve but took supposedly “temporary” steps to limit customers’ ability to withdraw their funds. You might remember the Winklevoss twins, Cameron and Tyler, from their monumental battle with Mark Zuckerberg over Facebook.

Also on the chopping block: The Salt Lending platform. Again, it has not declared bankruptcy, but has halted withdrawals.”The collapse of FTX has impacted our business,” SALT CEO Shawn Owen said.”Until we are able to determine the extent of this impact with specific details that we feel confident are factually accurate, we have paused deposits and withdrawals on the SALT platform effective immediately.”

Here, Scott Shafer addresses the continuing financial fallout while also addressing rumors of drug-filled sexual romps and an explicit video that could be released later today.

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