Crypto has been cynical dynamite bent on destruction. Will crypto cause a recession? By Quinton Mitchell

It was tulips in Holland or Louisiana swamp land sold by the French Central Bank with the Mississippi Company in 17th and 18th centuries. Florida land speculators in the early 20th century. Housing mortgages in 2008. Technology firms in the 2000s. There’s always an asset class that gets too hot, crashes, and bleeds into other economic sectors even if only by hurting public/investor sentiment. Now it’s crypto. Sam Bankman Fried is no different than John Law who created the Mississippi Burst than collapsed the world’s first true central bank in France.

According to Vice’s Motherboard, a few banks in Silicon Valley are going under due to investing in Crypto.

Crypto ….. seems like it was designed to A) steal money and trickle it upwards via the black market serving as the” bearer bond” for shadowy figures ranging from terrorists, warlords, PMCs, cartels, James Bond like billionaires, human traffickers, and B) cause a manufactured recession so other inflationary prone sectors will be forced to blow up and deflate asset prices and wages thus making a bargain buy session for the rich and private equity firms plus removing any bargaining power workers got via CV19, the Great Resignation, etc.

But the Feds won’t bail out or insure crypto – rightfully so – because crypto is literally wanting to replace the greenback which would destabilize the US and our influence on the world stage. Why should the government bail out the anti-government, libertatian, Anarcho Capitalists? The types spewing every anti government conspiracy they can?

Crypto bros never advocated for their own private insurance pools (even if they had The General’s insurance with Shaq would’ve been better than nothing), no rating systems like a Moodys or Finch, so its always been risky.

Which makes sense as to why Russia and China had so many crypto farms but then suddenly cracked down on mining aka they flooded the market and immature US investors with the help of “Crypto Bros” (wannabe Jordan Belforts from Wolf of Wall Street) bought the assets but then the bubble exploded rippling thru Banks. Russia and China didnt want a bubble so they helped make a large one in the US. Or, they never bought crypto but told customers they did and ponzi schemed the money. No insurance, sinister intentions, lack of regulation. __________ Just a theory.

Anyways Silicon Valley Billionaires should provide capital and bail them out to extinguish the fire before it spreads and then privately restructure the debt to hopefully recoup losses, even if they still believe in crypto or not.

But how do you recoup something backed by worthless or volatile assets? The amount of liquid cash and sellable assets vs outstanding debts, accounts payable and/or worthless assets may be out if control. Hopefully they lent to something productive. Real estate is already pretty hot. Investing in Global or developing markets are cooling as the cost to borrow USD has risen due to interests rates — e.g., the petro dollar scheme requires transactions be done in USD and everyone needs oil for…about everything — plus general instability mounting (oil, war, but some positive signs like Saudi Arabia and Iran reopening talks — major oil players. Russia waring down in Ukraine).

Instead of buying Twitter, Elon (I’m no Elon bro) maybe should’ve invested in banks. Similar to how the Japanese Keiretsu and zaibatsu often had their own banking wings within their web of intricate firms. But this is risky and “owning” Twitter as it has value allows Musk to borrow against his holdings so he can be an annoying living off credit billionaire.

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