# Storm warning. Massive conversion of USD to Crypto



## mindlessobserver (Feb 8, 2021)

All of the Crypto markets are exploding in the last month. 

Bitcoin. 



Ethereum 


BAT


Even fucking DOGE


This is unreal, and I cannot imagine it's a good sign. This is a massive exodus of dollars into crypto. We are talking tens of billions of dollars here in the span of two weeks.


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## Rusty Crab (Feb 9, 2021)

Well, the party famous for being irresponsible with money has complete power so...


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## LargeChoonger (Feb 9, 2021)

This is gonna turn into a watch yo jet situation really fast


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## troon patrol (Feb 9, 2021)

I'm fairly new to watching the BTC, people are speculating a crash?


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## NOT Sword Fighter Super (Feb 9, 2021)

So glad I didn't dump my Chainlink.


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## Telecom (Feb 9, 2021)

So, what your saying is I should buy Null's kiwi doubloons?

To be serious tho I have seen a lot of people beating the drum about a crash recently. Really inevitable.


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## Save Goober (Feb 9, 2021)

The last time the market crashed coins crashed too though
What's changed since then? The elites did more research?
Like it makes sense to me why crypto is a good store of value, but I have some hesitation that this isn't just yet another scheme to steal money from the 99% and they are going to pull the rug out from under us as soon as the plebs decide crypto is a good investment.


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## mindlessobserver (Feb 9, 2021)

I think the key difference is the value of coins in retail was solely dependent on small time investors in 2008. Now, not so much. There is huge institutional investment. Hell, Visa now has credit cards backed by crypto on its platform. Its also not optioned to all hell like Gold and Silver are.

That is my best guess anyway. This surge cannot be explained by Musk shilling crypto on twitter. Even the 1.5 billion from Tesla into bitcoin cant explain it. The only way this is happening is if major funds and banks are adding a huge quantity of crypto to their portfolios.


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## Mediocre (Feb 9, 2021)

Well, let's hope it isn't another GME situation where people FOMO only to get crippled.


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## Save Goober (Feb 9, 2021)

mindlessobserver said:


> I think the key difference is the value of coins in retail was solely dependent on small time investors in 2008. Now, not so much. There is huge institutional investment. Hell, Visa now has credit cards backed by crypto on its platform. Its also not optioned to all hell like Gold and Silver are.
> 
> That is my best guess anyway. This surge cannot be explained by Musk shilling crypto on twitter. Even the 1.5 billion from Tesla into bitcoin cant explain it. The only way this is happening is if major funds and banks are adding a huge quantity of crypto to their portfolios.


Oh I didn't really mean 2008 - I meant the crash March last year, or whatever you want to call it. Crypto, gold, stocks all tanked exactly the same time. I'm still not sure what was the "safe" investment there, ammo I suppose?


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## mindlessobserver (Feb 9, 2021)

melty said:


> Oh I didn't really mean 2008 - I meant the crash March last year, or whatever you want to call it. Crypto, gold, stocks all tanked exactly the same time. I'm still not sure what was the "safe" investment there, ammo I suppose?



Probably hard cash in that case. It was before the central banks had completely nuked faith in the almighty dollar. Moneys value is as much an exercise in collective belief as it is hard value. I am very worried this belief has been broken as people have literally watched the money printer go BRRRRRRRRRRRRR in 2020. The central banks have created a monster. They have floated a ton of complex financial instruments through the COVID crisis using printed money. ALOT  of  printed money. There are trillions of US dollars out there in the wild that need to be unwound and they simply cannot find a path to doing so. The entire ledger has become an unholy mess. Even Gold and Silver are caught up in it as the major funds have hedged their bets with paper options of both, and then further muddled the waters with complex financial instruments in both.

I think the block chain ledgers are the ONLY financial instruments left with clearly determined value. Jesus christ I am writing this post and even I cannot believe what I am writing. Someone PLEASE call me a sped and tell me to calm down.


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## tehpope (Feb 9, 2021)

I think everyone is looking for the next $GME. The next big money making scheme. I know that event had me look into Crypto again. Even Sam fucking Hyde posted a thing on Gumroad saying now is the time to start investing. He said "the transfer of wealth from boomers to millenials/gen-z'ers is happening right now all at once and will continue for probably like 3 years before the musical chairs game is over".

I bought some Ethereum in late 2017. It jumped up a ton since the last time I looked at it (was at ~$40 during tax season 2020).


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## Chongqing (Feb 9, 2021)

Whenever I feel a twinge of FOMO about any of this stuff, it's replaced by a sense that it's probably not worth the hassle and risk. For some reason none of it feels right to me. 

I wonder if anyone else feels that way.


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## PetrifiedTom (Feb 9, 2021)

That kinda reminds me the plot of Mr. Robot. 
To any who didn't watched the show. Big Corpo goes batshit insane after their digital storage about credit info of every fucken citizen goes null. The reception is to impose new, digital currency similar to BTC. 

Fantastic that the fiction becomes reality... but why the shitty one?


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## MarvinTheParanoidAndroid (Feb 9, 2021)

Apostolis said:


> That kinda reminds me the plot of Mr. Robot.
> To any who didn't watched the show. Big Corpo goes batshit insane after their digital storage about credit info of every fucken citizen goes null. The reception is to impose new, digital currency similar to BTC.
> 
> Fantastic that the fiction becomes reality... but why the shitty one?


Makes perfect sense to me, BTC can't be inflated by a money printer in the hands of a retarded government, it has to be milled by a PC's CPU/GPU.


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## ditto (Feb 9, 2021)

MarvinTheParanoidAndroid said:


> BTC can't be inflated by a money printer in the hands of a retarded government


Unless 51% of miners agree to change the protocol.


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## HOMO FOR LIFE (Feb 9, 2021)

Crypto is a legal way to pump and dump your money.


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## Likeigod (Feb 9, 2021)

What you are currently seeing is the normies rushing at once to buy into something they see will make money and the people actually holding the coins will soon sell

This is a regular market occurrence

my boss started talking to me today about bitcoin and as he walked away, i sold 50% of my holdings of btc and eth. I dont care if im wrong ive made a lot of money, and im pretty sure a correction is right around the corner


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## Andy Bandy Man (Feb 9, 2021)

How is this development affecting the timeshare market?


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## Andy Bandy Man (Feb 9, 2021)

ditto said:


> Unless 51% of miners agree to change the protocol.





"Independent miners keep turning up dead, Roger I think someone's trying to change the PROTOCAL"


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## Uncle June (Feb 9, 2021)

It's definitely a bubble, but like any investment, it's best to hold it long term if you already have it, and buy in when it dips if you don't.
Regardless, crypto definitely has a place in the future, and it'd be wise to get in within the next few years.


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## HOMO FOR LIFE (Feb 9, 2021)

MarvinTheParanoidAndroid said:


> Makes perfect sense to me, BTC can't be inflated by a money printer in the hands of a retarded government, it has to be milled by a PC's CPU/GPU.


Value of BTC is measured by the fiat currency.  In effect, it's worthless.


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## Rusty Crab (Feb 9, 2021)

I've been thinking about it. There's probably some big business involved, but I think it's largely something else. Our generation is getting to the age that they're getting into investing. However, NOBODY I know my age owns a significant amount of stock. To them, it's all fake and gay. Watching the GME situation spiked interest in stonks, but the outcome of it only further reinforced their belief in the fakeness and gayness (it's all rigged and the house always wins). So now they're looking to the "new frontier" so to speak. I don't make any claim on how that turns out, though I do worry that a 51% attack is increasingly more feasible as retail miners lose their ability to make any money on BTC.



MarvinTheParanoidAndroid said:


> Makes perfect sense to me, BTC can't be inflated by a money printer in the hands of a retarded government, it has to be milled by a PC's CPU/GPU.


That's actually not true anymore. CPUs and GPUs are woefully underpowered for bitcoin. You could run a rack of 3080s for years and probably get $10 out of it. They've now been replaced with what are called ASICs. Those have been hoarded by china and big server farms to their point that they now almost entirely control the blockchain. As long as they don't pull a 51% attack, they can't 'inflate' it directly, but they absolutely can hoard it to manipulate the price.

This is why a lot of the newer coins like monero are specifically designed to be ASIC resistant.


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## mindlessobserver (Feb 9, 2021)

Welp, I've started converting some of my long stocks like Delta into crypto. Deciding to trust my gut on this one. I figure even if this IS a bubble in crypto with Ether and wat not crashing g back down to a thousand the long term trajectory is up. Especially if Ethereum is successful with the software update in June.

I smell a rat in the regular stock market.


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## Uncle June (Feb 9, 2021)

mindlessobserver said:


> Welp, I've started converting some of my long stocks like Delta into crypto. Deciding to trust my gut on this one. I figure even if this IS a bubble in crypto with Ether and wat not crashing g back down to a thousand the long term trajectory is up. Especially if Ethereum is successful with the software update in June.
> 
> I smell a rat in the regular stock market.



If you're liquidating some stocks or whatever you're holding on to that's fair game but please don't touch your retirement savings (401k, roth, etc.) I know I'm just some faggot on the internet but you really don't want to lose out on that compound growth, especially if you're young.


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## mindlessobserver (Feb 9, 2021)

CharlesFosterOffdensen said:


> If you're liquidating some stocks or whatever you're holding on to that's fair game but please don't touch your retirement savings (401k, roth, etc.) I know I'm just some faggot on the internet but you really don't want to lose out on that compound growth, especially if you're young.



Not a dummy. I only play with my extra cash on the stock market after I have paid the bills and done my retirement contribution. Though if my worst fears are realized that IRA is going to get nuked hard.


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## HOMO FOR LIFE (Feb 9, 2021)

I liquidated my nonperforming positions.  I feel good now fuukkk


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## Beavis (Feb 9, 2021)

How long until governments make crypto illegal?


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## Bagronkleton (Feb 9, 2021)

Beavis said:


> How long until governments make crypto illegal?


When too many people start making money and having a say in shit. Ergo, soon.


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## Andy Bandy Man (Feb 9, 2021)

So with regards to the hardware accelerated infra, do the ASIC machines need to stay running to prevent a 51% attack, or is just for mining? 

I use my parents as a barometer for tech adoption, and they still don't know what crypto is, but their starting to show some interest in it being a real thing


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## AMERICA (Feb 9, 2021)

mindlessobserver said:


> Welp, I've started converting some of my long stocks like Delta into crypto. Deciding to trust my gut on this one. I figure even if this IS a bubble in crypto with Ether and wat not crashing g back down to a thousand the long term trajectory is up. Especially if Ethereum is successful with the software update in June.
> 
> I smell a rat in the regular stock market.


Me, too. I don't really like doing this as it means my assets are now less diverse (less in shares; more crypto). But I believe that eth is a legitimately good investment on its own, so I don't think it's a terrible idea to convert at least some stocks into crypto during such an uncertain time.

Worst case, losing some money converting to crypto but having the market survive in a healthy state is preferable to having the market take a shit with no contingency plan


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## Bad Gateway (Feb 9, 2021)

Omggg this time it's totally real! This time! This time! This time! Totally real! Not fake! Totally real! Not artificial! Bintcoin is real!


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## Kosher Dill (Feb 9, 2021)

Beavis said:


> How long until governments make crypto illegal?


Why would they make it illegal now that they've figured out how to track it and tax it?

The only way I could see governments moving against crypto is if privacy coins that they absolutely can't break start taking off, or if it somehow hurts the banks long-term in a way that they can't co-opt.


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## GHTD (Feb 9, 2021)

Fuck it.

I'll transfer $125 out of my E-Trade to put into crypto. Most of it's from option profits so it's not anything I put into the portfolio.


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## Rich Evans Apologist (Feb 9, 2021)

Crypto's an asset. We're entering (really already in) an asset bubble. Stock market by all appearances is overheating, usually a sign that companies are spending a lot of their cash now on capital / assets that will retain better value better than cash, probably in expectation of inflation or deeper recession. 

Of course, how crypto-coins survive an actual asset bubble crash, and not their own speculative markets correcting themselves, is something that will reveal how useful crypto really is as a long-term, non-speculative investment.


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## Rusty Crab (Feb 9, 2021)

Bad Gateway said:


> Omggg this time it's totally real! This time! This time! This time! Totally real! Not fake! Totally real! Not artificial! Bintcoin is real!


There was never going to be a "suddenly crypto was legit" moment. It's been a slow steady adoption, but at this point it would be hard to not call it a legitimate currency. Despite it's instability, an awful lot of places take it now (mostly online services, but still).


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## mindlessobserver (Feb 9, 2021)

Rich Evans Apologist said:


> Crypto's an asset. We're entering (really already in) an asset bubble. Stock market by all appearances is overheating, usually a sign that companies are spending a lot of their cash now on capital / assets that will retain better value better than cash, probably in expectation of inflation or deeper recession.
> 
> Of course, how crypto-coins survive an actual asset bubble crash, and not their own speculative markets correcting themselves, is something that will reveal how useful crypto really is as a long-term, non-speculative investment.




My big concern though is the dollars stability in all of this. I agree it's an asset bubble, but your primary hedge to that is to turn your assets into cash and pile them under a mattress. But with trillions of wild Dollars rampaging through the economy atm, I wonder just how safe even that method could be. It's why the current market situation has me so spooked. I expect Crypto will take a beating like everything else if the worst happens, but it will be better positioned to rebound, especially if the money printer breaks and can no longer go BRRRRRT.

And if the worst doesnt happen, well yay to that too. I've already exceeded my transfer costs from stocks so that's something. I am now gonna hide in my Bunker with my Ether body pillow, some blue chips with strong balance sheets  and stick my head out in June to see if the world is still here or not.


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## FatalTater (Feb 9, 2021)

Don't put all your funds in crypto.
The Morris Worm was released 30something years ago. Imagine if a 2021 version of it happened.
The Love Letter For You virus was about 20 years ago. 
Eventbot? What's that?
Be careful out there.


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## NOT Sword Fighter Super (Feb 9, 2021)

Andy Bandy Man said:


> View attachment 1907578
> "Independent miners keep turning up dead, Roger I think someone's trying to change the PROTOCAL"


Lol, I literally just watched this movie.


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## Badungus Kabungus (Feb 10, 2021)

Don't bother playing the shitcoin casino with less than a grand, eth gas fees will eat it up. It's pretty fun though, although eventually you'll start missing being able to sleep.


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## mindlessobserver (Feb 10, 2021)

Welp now Kaepernick and other celebrities are shilling some complex financial instrument that guaranteed to just print money y'all. 



			https://amp.cnn.com/cnn/2021/02/10/investing/premarket-stocks-trading/index.html
		


Gonna have to really watch what my current assets are doing. Really don't want to miss the top of this wave when it breaks. Everything is definitely inflated with crypto being no exception. Never seen anything like this before. It's like the housing bubble, only it not just property. It's literally everything.


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## HOMO FOR LIFE (Feb 10, 2021)

mindlessobserver said:


> Welp now Kaepernick and other celebrities are shilling some complex financial instrument that guaranteed to just print money y'all.
> 
> 
> 
> ...


Velocity of money is nonexistent so it's all going into asset class materials.  Once everything opens up, people will start cashing out their gains and you can expect some massive drops.

I don't think it will happen immediately. It will be very slow process over time.

It's called stagnation for that reason.

Bad thing is that productivity hasn't gone up.  We are actually producing less....but consuming more.

I am re-positioning my portfolio to reflect this pattern and leveraged about 40% of my portfolio in energy sector.  Demand for their service is going to be absolutely insane when things "start happening.". $1400 check and additional unemployment insurance money is a killer.  People in these areas of support are not going to be buying electric cars. They are going to buy gasoline vehicles. 

Worse yet, Biden and Trudeau government both hate energy sector.  They killed any kind of investment and exploration projects to boost the oil productivity in near future   that means oil production will remain stagnant for the duration of 2021. 

The reality of the economic situation is going to absolutely force their hand and start becoming more favourable towards resource sector when inflation hits absolutely unbearable levels. 

I predict something like 150 per barrel of oil.


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## Save Goober (Feb 10, 2021)

I don't know what to do anymore so I'm just going to do the same thing I always do. Which is not touch any of the crypto I already own and just regret not buying more of it.


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## Marvel Cinematic Universe (Feb 11, 2021)

Rich Evans Apologist said:


> Crypto's an asset. We're entering (really already in) an asset bubble. Stock market by all appearances is overheating, usually a sign that companies are spending a lot of their cash now on capital / assets that will retain better value better than cash, probably in expectation of inflation or deeper recession.
> 
> Of course, how crypto-coins survive an actual asset bubble crash, and not their own speculative markets correcting themselves, is something that will reveal how useful crypto really is as a long-term, non-speculative investment.


Look at Bitcoin's price in December 2019 then compare it to March 2020.


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## Rich Evans Apologist (Feb 11, 2021)

Marvel Cinematic Universe said:


> Look at Bitcoin's price in December 2019 then compare it to March 2020.


Are you talking about the ~$1k dip?


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## ShortBusDriver (Feb 11, 2021)

Who wants to launch Kiwi Koin?


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## Massa's Little Buckie (Feb 11, 2021)

ShortBusDriver said:


> Who wants to launch Kiwi Koin?


Null is doing just that, you dum dum.


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## Sanshain (Feb 11, 2021)

ShortBusDriver said:


> Who wants to launch Kiwi Koin?


I'd buy.


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## mindlessobserver (Feb 13, 2021)

The push to convert dollars into assets is now getting very silly. 



			https://amp.cnn.com/cnn/2021/02/12/investing/baseball-cards-markets/index.html


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## HOMO FOR LIFE (Feb 13, 2021)

mindlessobserver said:


> The push to convert dollars into assets is now getting very silly.
> 
> 
> 
> https://amp.cnn.com/cnn/2021/02/12/investing/baseball-cards-markets/index.html


Mega inflation is coming niggers. 

Get ready. 

Summer of loveeee


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## Zarael (Feb 13, 2021)

HOMO FOR LIFE said:


> I am re-positioning my portfolio to reflect this pattern and leveraged about 40% of my portfolio in energy sector.


I think this is a good call, I'm doing likewise. A JP Morgan analyst thinks we're entering the next commodities supercycle, I think it's going to surge. That said keep an eye out for when things do open up and all the bored retail investors pull their money back out to take a vacation, that'll be the time to jump in and snap up bargains.









						JPMorgan Says Commodities May Have Just Begun a New Supercycle
					

With agricultural prices soaring, metal prices hitting the highest in years and oil well above $50 a barrel, JPMorgan Chase & Co. is calling it: Commodities appear to have begun a new supercycle of years-long gains.




					www.bloomberg.com


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## ad2of2 (Feb 13, 2021)

Buy crypto, stocks, silver and gold, just get out the fucking FIAT, when inflation hits you will get raped in the ass.
Also i think @Null idea is great, should roll those coins fast.


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## mindlessobserver (Feb 13, 2021)

mindlessobserver said:


> Probably hard cash in that case. It was before the central banks had completely nuked faith in the almighty dollar. Moneys value is as much an exercise in collective belief as it is hard value. I am very worried this belief has been broken as people have literally watched the money printer go BRRRRRRRRRRRRR in 2020. The central banks have created a monster. They have floated a ton of complex financial instruments through the COVID crisis using printed money. ALOT  of  printed money. There are trillions of US dollars out there in the wild that need to be unwound and they simply cannot find a path to doing so. The entire ledger has become an unholy mess. Even Gold and Silver are caught up in it as the major funds have hedged their bets with paper options of both, and then further muddled the waters with complex financial instruments in both.
> 
> I think the block chain ledgers are the ONLY financial instruments left with clearly determined value. Jesus christ I am writing this post and even I cannot believe what I am writing. Someone PLEASE call me a sped and tell me to calm down.




I've been thinking about this rambling post I made and the more i am looking into the more convinced i am this is actually the case. Cold Fusion actually did a really good video on this very subject a few months ago, so apparently I am not the only person who thinks this is going on.






The one key thing I am noticing from a Historians viewpoint is that all the financial institutions, central banks, and economists are looking at this from a position of pure math, statistics and short/long term averages when really they should be looking at it as the lead up to a major war nobody wants.

Wars, especially in the modern era (post 1600) are  not desirable. They carry enormous risks, are expensive, they may pay off for you if you are lucky but could just as easily absolutely wreck you. So in general leadership works to avoid war. Yet a series of short term moves that may seem innocuous at first...say, France building forts to protect fur traders in the north american wilderness from natives and the encroaching english settlers circa 1750s can start to cascade. I dont think either France or England planned on such an innocuous (but aggressive) move triggering a 7 year global conflict and ultimately leading to both the American and French Revolutions, but that is what happened. More importantly though once the escalation chain was established none of the political leaders could turn the ship of state around. Events had taken a life of their own and all they could do was hang on for dear life.

In this case war isnt the impending problem, a full blown financial meltdown is and quantitative easing was our french forts in the wilderness. Both created to solve an immediate problem, but leading to much larger and more destructive problems long term. And the short term problem is the entire economy....scratch that the entire global economy is tied up in debt obligations that exceed the entire output of the global economy. Even worse, the debt obligations have ballooned out of control meaning the interest charges on the entire mass are exponentially growing, which means the central banks NEED to keep running the money printer. If they dont, the debts start defaulting and the first card in this massive house of cards falls. Like the political leaders before the start of the 7 years war, the central banks know they are heading for disaster but for the life of them they cant figure out how to turn the ship around.

So all they can do is keep printing money until finally a shock to the system, like some asshole named George Washington taking one of those french forts, brings the entire sorry edifice down and after that....


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## mindlessobserver (Oct 7, 2021)

Billions of dollars of Ethereum are on the move.









						Whales Suddenly Move Over $2,200,000,000 in Ethereum As Miners Amass the Second-Largest Crypto Asset - The Daily Hodl
					

Whales are suddenly moving more than $2.2 billion in Ethereum (ETH) this week across 11 separate transactions, according to the crypto tracker Whale Alert.




					dailyhodl.com


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