WE TALKING ABOUT MONEY

In July of 2021......ONE YEAR AGO.......THIS was the topic I posted....NOW HERE IS THE UPDATE........



A PONZI SCHEME OF 10101010101010101....one year ago ,you could see it coming from MILES AWAY.....

Governments have to love that cryptocurrencies are collapsing everywhere. I was always suspicious of them. Then to see them having much higher inflation than what the Fed and Governments were creating themselves was one red flag. Plus then they started losing value when inflation was rising. But they lost value even faster than the fiat currencies they were supposed to protect against.

Now Governments are wanting to regulate them.

Is our fiat currency any different from a crypto-currency? When the U.S. went off the gold standard, the only backing of the dollar became faith in the U.S. economy.The Fed can and has printed more dollars than the world can absorb. Hence inflation, too many dollars chasing too few goods.

You’re right ramage, the US dollar is in jeopardy because our worthless politicians are more concerned with holding power than they are saving this country.

US dollar in Jeopardy? Hardly. It is the strongest I have seen ever against the Euro. Maybe Europe was able to pass BBB? Something President Biden was unable to do.

Comparing the dollar to other fiat currencies is a fool's game. If you wish to do so compare the dollar to the ruble. You will get a number for doing currency exchange, nothing more. The ruble is backed by the natural resources of Russia not the service oriented economy of the US and Europe, both of whom relied on cheap oil from Russia. Sorry they are no longer at the table.
Currently the EU is purchasing LNG at a price that the developing third countries cannot afford. For example, South Africa was told to go "green" now that winter is in full swing and LNG is too expensive they have no back up to rely on as does the EU, i.e. coal-fired plants. Why does anyone think that the BRICS look favorably on Russia with its supply of inexpensive oil and are upset with the US/Euro axis.

www.thestreet.com/investing/cryptocurren...s-to-major-exchanges

The crisis of confidence affecting crypto lenders is now spreading to major exchanges.......DOMINOES,DID U SAY?

No not dominoes. The companies referenced in the article are comparable to remora on a shark.The shark being blockchain.com. These cryptos are in for a quick profit. some might say like Solyndra except that Solyndra fed, primarily off the government teat, not private investors.
Blockchain technology is solid and companies such as bitcoin.com will weather this tempest.
If you invested in some of the companies in the article you probably also invest in pink sheet stocks.
Good luck.

The crisis initially gave the impression of mainly affecting crypto lenders, but we now learn that other players, and in particular large cryptocurrency exchanges, are also victims. This is the case of Blockchain.com which has an exposure of $270 million to 3AC, according to Coindesk.

CEO Peter Smith revealed this in a letter to shareholders, the news site wrote. Blockchain.com, founded in 2011, expects to lose the money loaned to 3AC, Coindesk understands. However, the trading platform believes that this will not affect its liquidity.

"Smith also emphasized that Blockchain.com 'remains liquid, solvent and our customers will not be impacted,' in the letter dated June 24," Coindesk reported.

Blockchain.com, which this year became one of the sponsors of the Dallas Cowboys NFL team, did not immediately respond to a request for comment.

After the Blockchain.com revelation, TheStreet reached out to other major cryptocurrency exchanges to ask if they had exposure to 3AC.

"Coinbase does not," a spokesperson told TheStreet in an emailed statement. Coinbase (COIN) - Get Coinbase Global Inc Report is the most popular cryptocurrency trading platform in the U.S. told TheStreet in an emailed statement.

Binance, the largest crypto exchange by volume, did not respond at the time of this writing.

With the stockmarket tanking because of Fed rate hikes, crypto currencies also taking a bath, inflation might just solve itself. Once real estate values tank and trillions disappear, we might have to start worrying about deflation.