Twist as in 'Arm Twist' that is...
Under the hood, (or the 'bonnet' if you live in the UK and surrounding areas)
I personally suspect the latter Central Bank Digital Currency CBDC FACTIONS to be 'arm-stronging' the FT500 CEO set with higher interest rates (as nobody has equity anymore, EVERYTHING is debt financed). This tightly held "Rommel" style market dynamic FACT has resulted in the current "shakedown' of the cryptosphere, which has transformed the formerly sizeable market cap of many altcoins into the stinky dung heap of Crypto, the so called "shitcoins", which are piling up fast, as investors and businesses alike are forced to cover their debt interest positions, which have now doubled after the latest Fed rate hikes.
In this currently shrinking cryptosphere, those in such a position holding crypto have been forced to "bail out" of their hodler positions to cover their rise in interest carrying cost, while these same CB Central Bank folks wired into the BIS CBDC BS are now largely ready to launch their own National CB Digital Currencies or "CBDCs" as they are known now generally on the street.
To read about who the crypto survivors and victims are, Germany's CoinTelegraph has a recent June 17th article which covers that 90% meltdown in the stinky place quite nicely..
https://cointelegraph.com/news/72-of-the-top-100-coins-have-fallen-90-or-more-here-are-the-holdouts
The Turd that keeps on Rippling: XRP
The real 'laugher' ( I predicted this faux crypto to fall years ago) of the bunch in the Big Mark Cap Coin victim set, is certainly #Ripple aka #XRP. It's the poop in the pool a la the movie Caddyshack, and surprisingly like the video link above, is actually easier to clean up than one might think...
OFT PITCHED AS A QUASI-STABLE COIN, (not really, just in Up markets) and as crypto(not at all its privately held tech which operates centrally when deployed by Banks privately under a Ripple license). As Ripple technology is licensed by JP Morgan for their own internal rapid settlement between divisions we know it settles fast at scale. That said, Investors are now quite savvy to what Ripple is really all about, centralization, translucency and banker mystery, shrouded by the subtle noise of CB and Big Bank whispering in the "Financial hallways of the Damned" (NYC Wall Street, London, Hong Kong, Tokyo, Frankfurt, Toronto, Paris, Shanghai, San Francisco, take your pick.)
I guess the private and centralized control of the Ripple Tech and the fact XRPs managed reserve position was not very liquid
While XRP was claiming they were pegged to the US Buck and were instantly liquid able to cover any big position withdrawals, that claim was a position of XRP which proved to be not the case, as investors in XRP which started to draw down their position to cover the rise in their FIAT interest rate exposures, soon found out. I guess part of the reason for XRPs exposure and inability to service such large withdrawals, like many other alt-coins in the stable-coin space, found that their short term 'liquidity' positions in certain investments like China's real estate market collapse of Giant Evergrande (and dissolving value that resulted) did indeed hamper their ability and agility to respond and service such large XRP position withdrawals.
You can read about my earlier #Ripple #XRP prediction here and why... published some 18 months ago.
The XRP cleanup is simple, get rid of what you have and replace with clean crypto, gold or silver and yes even copper.
The NEW CRYPTO ORDER: NCO is happening as you read this...
The #NCO.... imo will be led by real transparent distributed cryptocurrencies operating on transparent public ledgers, governed by eVote by their communities, with a geo-diverse large worldwide node count (like BTC and ETH today), where such a cryptocurrency MUST add hard asset value to prop up and maintain their market valuations, in order to finance the development effort to go 'head to head' with imminent roll-out of CBDCs without any gold backing in each Nation state rolling their own CBDC, asset backed or otherwise. These NCO cryptocurrencies will also need to find partners who get main street onboard to start using and supporting their cryptocurrencies, a tall order for many of them.
The big question our there in the cryptosphere Is BTC a slam dunk to survive in the long run?
Maybe. BTC has the geographically diverse node count but, needs to have the community rethink energy consumption and, figure out how to wrap hard asset value into BTC, in a way that maintains transaction 'legal audit' transparency to support International hard asset backed exchange properly.
ETH on the other hand, is likely to mutate even further, given the size of the core and extended communities (SOL , DOT et al) making use of the ERCXXX and de facto SC EVM Ethereum Virtual Machine standards to bring Smart Contracts to the world @ scale (Thank you Solana), as the extended ETH community imo, will be wise to also include hard asset backing options more easily as ETH wrapped assets, which will take ETH way beyond the 'fluff' of NFT variants, which imo are simply another form of speculative gambling more akin to the shady world of art collection.
The Gentle Giant: Valuev, "A Thinker as well as Boxer and World Champ, now a Politician..."
The Ruse of the Rouble, rising. The Ultimate Counter-punch knocking down the CBDC crowd
"Dam that #Putin, he actually released his #ROUBLE #CBDC with gold backing!" is I am sure a phrase, heavily prefaced with a Blue Streak in the Air, which can be found circulating and repeated around the hallways in Basel #BIS these days.
In lining up for the knockout punch, the Rockefeller and Rothschild directed BIS and the FED are taking an 8 count now with their collective butts on the matt asking each other what happened, after this masterful post Embargo counter-punch from Russia, Putin and Team.
Let's face it, BIS and the FED have raised the rates, are out of 'wiggle room' as the Economies of the world crash further and they must make their International CBDC move, backed with something other than air and a promise to pay.
Which set's up a coming Global Crypto/CBDC "BellyBuckingBall" whose outcome is not that hard to figure out for the savvy investor.
BTC and ETH will save us? Maybe, if they transform into asset backed, efficient settlement systems
So where does the current "Cryptolypse" leave BTC and ETH moving forward?
Well I suspect much of that BTC and ETH stored value will start to 'leak' at a more accelerated rate into better hard stores of value, ONCE these new asset backed cryptocurrencies appear to be vetted by "the experts', who ever those 'experts' will be.
In the current decrepit western economies, that 'expert' will appear imo, as which ever country breaks away from the BIS BS and moves quickly and decisively to create their own 100% gold and/or Silver and/or Copper backed National CBDC, that is IF they have any of that metal in their reserves.
Right now, as hard as it is to stomach in ALL Western Economies, that 'expert' in asset backed CBDCs is Russia. The Finance team in Russia is super smart, they have their leader's back and support (Putin) and, Russia effectively have the EU's shorts in a knot, as the EU and Germany in particular under Merkel2(Olaf Scholz the 'new' face (or maybe its WEF/WEC/Nazi ass) of Deutschland) have cut off the branch on which they sit, which is natural gas supply from Russia, having shutdown both NordStream I, II and the supply flowing through Poland.
Does it get any clearer than that? Nope.
Otherwise those Countries in the world not having AU/AG/CU assets will need to back their National CBDCS with local assets of 'desired' market value, useful in building economies, like 'rare metals' used in important industrial production of batteries for instance, meaning lowly Zinc will play a bigger role than what we see Lithium playing today in the emerging gridedge energy storage market, which is so important to getting intermittent electricity generation from Wind and Solar working better than it does today. As you can find recycled Zinc most anywhere and zinc is plentiful in most countries, expect Zinc Batteries used in large format for electricity power storage to emerge as a new containerised type of asset backing National CBDCs in the medium and long term. (Easy to move around as physical collateral with current shipping systems)
TK fact- A little appreciated fact is that All Wind and Solar deployed as "prime mover' sources of electricity requires a huge tax payer subsidy, as big or bigger than that received by the Oil & Gas, Nuclear or Coal industries. Batteries fix that by pushing wind and solar into more efficient and smaller sized trickle charge roles to improve the ROI and overall efficient delivery of Electricity to the consumer and industry sources of electricity use.
The BRIC.... house. Solidly build on gold
Which means the BRICS (Brazil, Russia, India, China, South Africa et al) nations, minus India, are looking good to follow Russia's lead in that respect, with China potentially having the greatest impact. That said its unlikely the big Chinese interests will hand that wealth over to the CCP.
It's currently too bad Modi has 'no gnads', since India consumer wealth in the middle and upper class does contain much gold, where India in fact would rise as a key Economic player globally in the Financial Markets, if India's currently posited new CBDC was in fact, backed by #Gold.
Also keep in mind #Mexico is one of the biggest producers of #Silver and could easily supply itself and many, many other nations (leased silver) to back their own National CBDCs.
Also don't count Copper out of the picture as Copper could be the comeback metal kid when it comes to backing National CBDCs. Why? Well the penny we once had up here in the #GWN valued at one cent, is actually worth north of 3 cents these days, and, given copper will play an increasingly important role in the world of electricity for a very long time, expect copper's value to continue to rise on the open market, as it is much harder to paper control the way #JPMorgan keeps silver's price down these days.
Privacy and Stable Coins, A new set of dance partners in the Risk Management game,
The dark horses in this new NCO game will be #Monero and possibly #DERO plus #Dash and #ZCash as both "hang in there" as privacy coin higher risk/reward store of value alternatives competing with the stable-coins USDT and USDC, each of which is now positioned as "sideshow bob" value holding vaults, in what is seen by moi as an emerging contest between what could be described as battle of the "Titans of Old and the Titans of New".
As for the rest of the alt-coin scene, since gambling is always in our blood, I suspect many these currently wrecked speculator casino tables, will resurrect themselves in some altered form, opting to adapt by adding features to their alt-coin offer which wrap/ acquire semi-durable assets, renewables and non-renewables in order to improve their 'hard store of value" status, to weather what will be a long term depression of sorts.
Doing nothing as an alt-coin play is not an option, so expect some of these inventors to bail and leave behind Zombie coin projects which will perish completely in the coming months, watching all their value evaporate rather quickly (Terra/Luna style) as the automated order router buyers disappear (resetting their rule sets to aim at the new CBDCs backed with real value), leaving the sellers and their automated order routers holding a lot of worthless numbers in useless crypto wallets.
The real #Stablecoins that are transparent, distributed and public will survive, if not thrive making USDC the likelY successor to #Tether #USDT imo. Witness the well-earned rise of #USDC, versus the dogged marketing spin persistence of Tether USDT and the giant of the East, #BinanceUSD, as propped up by the #AsiaPac financial marketplace shakers and movers. No one saw that coming.
Hard assets giving a National CBDC Backbone to regain the trust of their People
Those National #CBDC issued by National CBs which are actually backed with hard assets/reserves, hard stores of value which other countries and businesses actually value in business terms, are likely to take market share in the NCO.
Those CB CBDCs issued to replace FIAT in countries without solid backing are imo in deliberately placing their people in a world of hurt, trying to cull down the numbers, will not be successful.
Rising from the Ashes of the Cryptolypse: A Few Good Cryptos... maybe...
As for #BTC, #ETH #CARDANO and #SOLANA, I am sure their current value add will keep them in good stead in the short term, as each are able to pay their core development teams to keep things going as their extended community numbers dwindle considerably.
#DogeCoin, on the other hand is unique. The 'Inflationary Fiat Sponge of Crypto' with no coin number limits, #Doge imo will continue to be used imo to expand and launder shit fiat into the NCO at an alarming rate, until the effective uptake and popular use of hard asset backed cryptocurrencies and National CBDCs of the same ilk become the norm, by say 2027 (in five years). Until then Expect Doge to be a juggernaut inflation sponge expanding and contracting as the "goto", high risk/high reward alt-coin of convenience, garnering 5% to 15% of the automated order router rule set's attention driving crypto market valuations.
Everything else, in the current smelly "shitcoin' dung heap imo, needs to be examined carefully by investors big and small, as to the additional value add these alt-coins bring into the NCO before attempting any resurrection powered by a sizeable buy in.. To do otherwise and NOT do proper diligence, investigating the team, the software algorithm behaviours (especially in down markets) will simply prolong the adoption of the inevitable multi-polar world of parallel, same minute settlement the world is now demanding, in order to get out of what will be imo, a prolonged Depression.
Which, said another way, means "The People" are awake and will no longer accept their governments supporting through regulation the Big Bank and CB transaction settlement delay, which is really the Banks playing their OPM "other people's money" interest earning scam, a scam so old and perpetuated in the past by Banks worldwide for the past 5000 years. This gig is over, whether the BIS, the Fed and the Governments supporting it realize it or not.
That's all I have for now,
Personally, I can't wait for the NCO to take hold fast and start replacing the BIS FED #NWO model of CBDC shite. :)
The world will be a much safer and more prosperous place for all when this grand larceny is finally removed.
TK over and out. ;)
