FT watch July 6th! Spike Lee, Snoop, Foxx and Jay-Z LOVE CRYPTO!!! but the FT says Raciss! Plus Propaganda straight from the central bank's bank- the BIS!


Hey crypto gang - lovin you is easy cause yer beautiful!! Thinking of y'all, and the ever climbing Publish0x, makes the minutes whip by!  Thanks for joining in as we keep a close eye on the spin (at best) passing as crypto news from the world's greatest financial publication, the Financial Times!

Bitcoin & "Ethereum" stay on the front page indices, we count that as a win lately!! Dear readers know we demand a retraction from the FT for smearing BlockFi and Vauld (even more than they deserve) yesterday.    We checked today, no joy yet! but looks like there's a week lag in “Corrections."  We’ll see. 

Scanning, we HAVE A CRYPTO HIT!  Let's dig in!!

cf20e722c6beb2d423b814c3ca5e7b22ec10e32ab195297bab82ead65f1dfa9c.pngDear readers know the FT already played this card - see, crypto is so very evil that it is racist!  Yeaaahh baby, bitcoin is whitey oppressing minorities, that's so weak it's funny!  Great pic of our man Spike tho.  We used to see Spike around Brooklyn, later in the Hamptons. Triangulating the locale shots opening "Do the Right Thing" (one was a block away) made us realize we lived in Spike's neighborhood, plus he later opened his store nearby and his jazz dad had unending, feuding with the police, house parties.   It was pretty rough in the eighties, we got mugged often, once at gunpoint at our front door. But pre-BLM Brooklyn was the least racist place we have ever been. One black friend for decades held spare keys to our house, car & motorcycle, my wife & I trusted him more than me for that lol!!   A jewish friend married a black friend & moved to Boston, then moved right back after hitting real racism.  Anyway here is Spike in the FT at NFT.NYC last year!! YAY SPIKE!!! Where is my Crooklyn hat??40c593c685fc69623e0e89aca115129fee8111617277ca9f66a7835fbc87c50c.pngDear readers know we love the "Fight the power" hit, which Spike made Public Enemy record for Do the Right Thing. That ALONE makes Spike the IDEAL spokesman for bitcoin!!!   Now, we know the FT is trying to make us hate BTC, & we are a lil crazy from the heat, but the FT's hate backfires, we just love it.

Anyway, the FT's hatchet job on raaaaccciiisssssss crypto.  It's a rehash as dear readers will know: TL, DR: Crypto losses hit blacks harder, because 25% of black investors own crypto vs 15% of white investors, blacks are twice as likely to buy crypto as their first investment.  Now number go down, and blacks had less money to start.

Jefferson bought $5 of BTC by accident on Cash App, noticed it hit $70, then put $20,000 into crypto including Doge, skipping index funds. Quote from Mr. Noel about "blacks not being left behind again, even the playing field, get in the game before gatekeepers" stop others.  Now he's "rethinking" cause he's down 20%, "but still buying more crypto." Historically black investors are very conservative, think insurance and savings bonds. Studies say blacks are less trusting of the stock market cause decades of banking discrimination. Jatali from "Kids who bank" says blacks were shut out of housing and stock markets, and don't want to be left behind on new tech.fd91b0722accb3c8ed4360604b6556ed0f2dd970c315e22415a3136f6880444a.png Jay-Z, Snoop Dogg, Floyd Mayweather, Jamie Foxx and Spike have promoted crypto. Jay-Z and twitter Jack announced they will start a bitcoin academy in do-or-die Bed Stuy.  There is kickback against the celebs.  Najah says 98% of crypto is a rip.  Jatali says crypto skips the minimum requirements of mutual funds,   and blockchain is transparent unlike big banks. In the last col, Bitfury points out how crypto has no entry barriers, and sending crypto is way cheaper than a wire if yer not rich.  Finally, Dennis in Atlanta is buying the dip against his financial adviser's guidance. Dennis now has 30% crypto along with equities, and "it's important to learn and get out there." 

The real story:  three, count em three negative "crypto is raciss" headlines over two pages, plus a nasty leadin and  crypto bash rehashes earns at least one FU.  The rest of the story was sort of balanced, at least to our unbalanced eye.  The FT sneers at Jefferson for accidentally getting into crypto, but if Mr. Noel is only 20% down he's a genius to us.  The FT no doubt thinks a BTC academy is a horrible idea, but we think starting BTC studies  right about now will work out great.  The FT scorns Dennis for going against his financial adviser, but we've personally seen advisers sell Mom (against our will)  nothing but  high commission "assets" like REITS that blew the eff up.  We totally agree that 90% of crypto is cr-p and should and will die.  But dear readers know it's easy to say the same about 90% of Brit investments, viz selling insurance as equities, lottery bonds, long term fee ripoffs, account frauds e.g. Wirecard, etc etc.  Spike's ad is supposed to sound bad but sounds most excellent to us lol!! At least the FT spelled Foxx and Dogg correctly.  The FT knows damn well they regularly run ads where their idea of being really inclusive and accessible is a low low $50K minimum to enter.     Overall, once again a giant fail for the FT advocating trying to ban  crypto to help minorities.  And honestly what would Spike, Jay-Z and Public Enemy think of the FT for even trying!!???!  Overall, only one FU out of five cause it all backfires.  Ya just can't make us see BTC as racist.

 

OK, here we go, the big spread hit job on crypto!!  4bbc3ae1f07beb919db45088e49b3dbde0d72f63639829524ec5895f1b8d533c.pngOH chr-st its yet another rehash of BIS agitprop. It took the Publish0x's own Sugarfix to open our eyes to the sadistic horrors of the Bank for International Settlements, the central bank for central banks.   TBF whenever we had to meet back office settlement people, we ran like hell to avoid dying of boredom.   Dear readers remember post Sugarfix enlightening us, we learned fun facts like how the BIS STOLE ALL THE GOLD IN CZECHOSLOVKIA TO GIVE TO THE ACTUAL GENOCIDING NAZIs. 

And now this fat slob Agustin is the BIS poster boy. OK Martin, we know when you take a BIS guy out to lunch, the FT expects a massive, morbidly obese, gargantuan, seismic, ridiculously fat sort of bill, we guess the temptation is too much !b9a9b482aafeff4729d0327f36455e29001fc5ed20d0eb2bf6b226811b48148a.pngIt's hard to even do a TLDR on this steaming pile.  The BIS has loads of money, and spent it on clever monkey analysts writing BIS fantasy lies  just  like a dollar a minute sex hotline, so we are told.   OK OK  TLDR:  Money has evolved.   Lie #1 - Central banks manage the public good of money.  Central mothership lie - If crypto is not the answer, what is?  (FALSE F-CKING premise/ question. )

Lie#2 -  Crypto is unusable as a store of value. Lie #3 -Stablecoins prove central banks rule, tying back to fiat.  Lie #4- High gas fees prove crypto is "the more the sorrier." Lie #5- Crypto cannot be secure, decentralized and and scalable all at the same time. even if regulated. Lie #6 KYC is the most important part of any financial system (the 300 year reign of the gold florin would be surprised to hear that.)  The BIS would love to run the world on CBDCs ( true, but FU fatty.) Then the central banks could control even "households" money, which would be "truly revolutionary." (FU FU FU)

Conclusion, Lie #7- the crypto world is not a desirable alternative money system ( we got a trillion dollars disagrees with ya)  It is "time to prune the crypto thicket" (lie #99, a) as if you really could anymore than sticking to a diet and b)what happened to the FT's lofty "law of the market" stance??)  and it is time to grow the power of the central banks (oh, the fat guy wants all of everything.   Again.) 

The real story:  net net, this all reads like a bad symbolic logic problem, the one that starts out  "everything i say to you is a lie, including this." Holy dystopian future Batman.   Before we even bother listing the rebuttals to obvious lies, lets talk about the elephant in the room.  No, not the fact that this guy needs help to wipe his own arse.  8ebbddd661af744085fec09ae14bda18e514fcc328916835e65915b1a3d64059.pngNO, not THAT elephant either.  The elephant that appears ten times in every issue of the FT, the one that is crushing the lives of most of the normal people - INFLATION.  Central banks do NOT manage the public good of money.  They have DESTROYED the public good, while enriching their cronies.  Lie #1 Was it public good that the BIS was up to when they stole a nation's gold to fund genocide & blitzkriegs?  HOW THE #*&^$#@(*&#@$&  mr. wolf, could you write this article with a straight face without using the words inflation or even  hard money or Cantillon kleptocrats!?! We would say shame on you, but clearly that is not a factor here. 

The premise is a lie, a false choice, a misframing exercise.  When did you stop beating your wife, Augustin??  lol After you crushed her in your sleep?? But anyway  lie#2- read the paper, central bankers often run  fiat at 80% inflation or even more, making BTC look @^%#@& great.  lie #3 -  The fact that BTC has STILL beaten around 90% of the fiat choices in the world proves crypto rules.  Stablecoins are just a marker and a way to move around. lie #4  - Eth 2.0, or some combo of BTC and layer 2 litecoin or some Eth killa already has or will solve gas fees.  Lie #5 -don't pretend like y'all understand the tech, just let it evolve.  Ya can't stop it anyway.  

Lie #6 - really ? KYC is key?  what a MASSIVE lie.  The primary goal of money is stability, destroyed by y'all. The  St Louis Fed below calls  it "limited supply," not your orgy (ooh don't get a mental picture) of fiat printing causing global inflation.  Even the St. Louie fed doesn't list your wet dream of knowing everything about every housewife's stash. OOOOHHHHHH yeaaaah, let's give all THAT INFO to someone with obviously no self control.

WHAT FUNNIES DID WE MISS? Look, the BIS uses Coin Gecko data LOL!!!   

Overall, 3.5 out of five FUs.  Why? Judges award back 1/2 FU because the BIS allllmost, but not quite,  managed to say "ALGO" stablecoin UST , plus 1/4 FU off for laughs of using CoinGecko, and 1/4 back cause Wolfboy could pretend he was just neutrally reporting the BIS BS  (which he wasn't), plus 1/2 FU off because there were no obvious falsehoods that the most casual and disinterested fact-checker should have caught, outside of the false choice at the start. 

What else is funny?  Another misleading crop job graph by the FT, any such graph that shows the 2017 peak paints a WHOLE different picture.  Bonus funny - that's the very first time we saw anyone use a graph of bridge blockchains and total value locked going to the MOOOOON  to argue that crypto is dead, lol!!!!

There's a big nasty funny running throughout.  If Augustin could have killed crypto, he would have done so long before now.  H-ll, the central banks literally have all the money in the world, and the CME futures market as a lever long enough and strong enough, and they still can't get BTC down to where they can print a graph that shows the 2017 peak and doesn't look like the emperor has not much fiat clothing left.  All of Augustin's priests can debate endlessly about how many angels can dance on the head of a pin.  It's all just whistling past the graveyard.  Augustin has nightmares where his central bank buds crack and start buying BTC on the down low!!!  and DON'T SAY HARD MONEY (or scarcity, etc)  when ya talk about the role of central banks!  

Peace, love, and limited supply, fungibility, divisibility, durability and portability !!! 

Dave

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Dave Sawyer
Dave Sawyer

National Merit got this punk rocker to Oberlin, and Wall Street fintech gave up world tours and an NYU MBA. I am a Bitcoin true believer. Bitcoin is deeply revolutionary in a way we always prayed tech would be. Keep the baby Faith!


Accelerationist Shit Show - buy Bitcoin NOW
Accelerationist Shit Show - buy Bitcoin NOW

Face it. The geopolitical world is going down hard in a blaze of money printing. America freaking out makes the world freak out, burning cities, riots and total polarization while the MMT monkeys at the Fed make the printers go brrrrrrt as we whack the world economy with Covid. Join us as we go crawlin thru the wreckage. A lot of things that were going good just stalled hard. A lot of things going bad are getting there faster and faster. to quote Nina Hagen, FUTURE is NOOOOWWWW!!!!

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