Cryptonauts, we love you. Take your protein pills and may god's love be with you.
Thank you for helping to change the fabric of money, one coin at a time, right under the unhappy noses of all those who currently own the production and distribution of fiat.
Changing the fabric of crypto coverage in the FT, one post at a time, fams. It's Monday all over the world.
Crypto that won't SAY crypto out loud!! Here's a biggie
TLDR: 70 Year high. Any more than that & we are Weimar. The REAL story: German officials are recommending only heating one room and taking a sponge bath instead of a hot shower. This would be pitiful enough but remember, Germany is the industrial powerhouse of all of the mighty EU. Something has gone so wrong with the world of our fiat overlords. Unless y'all are one of them, in which case there'e plenty of private jet avgas available, not taxed that much either. We promise y'all anyone in public making the warm towel recommendation is sleeping in a fully heated house tonight, secure in THEIR Cantillon positioning.
TradFi corruption: the new head of BaFin, the German regs that screwed the poodle on the Wirecard fraud, now say audit teams in Germany are a joke, they never rotate, the big four have a monopoly. In a separate article, a PwC staffer sues over a brain injury caused by a company "required" golf drinking game hopping nine bars. PwC management kept scorecards for how many swallows each drink took, etc, and published them at work the next day.
Here is a glorious crypto no crypto letter. Would that only the FT writers could see these truths.
TLDR: dear reader agrees with an FT oped, zero accountability for unelected officials making key decisions is a guarantee of ($&#($*&#$*(. disaster. Plus, yes there is a Yes Minister deep state, unaccountable to anyone. Plus 2% inflation is a bad idea as well. Most importantly, the Bank of England is following ancient Phillips curve theory, rooted in Keynesian demand management that screwed the poodle in the 1970's. Independence in such power is without merit when ideas are basically wrong!
The REAL story: Thanks to the FT for printing Andrew again, he made the letters column back in 2017 saying inflation is always monetary, hear hear!! Dear readers know we know the Phillips curve is a hallucinatory power trip, and yes we have known the B0E's crap thinking hasn't worked for 50 years if ever. Won't find any of this in the regular op eds, tho.
Crypto that SAYS crypto in the FT: Here's a big scary one that made print today:
TLDR: The very biggest tradfi's are going crypto. Not INVESTING in crypto, mind. Rehash Abrdn, Archax, Blackrock, Coinbase, Schwab entries and tie-ups. Skeptics say asset mans are exploiting, hype, fraud. Rehash CDPQ, Celsius. Blackrock at best is inconsistent since they once sniped bitcoin, but hardly surprising they are coming in now. Crypto could be good for something, like investing in wine or gold. Something useful usually remains after bubbles burst.
By getting into crypto now, big banks can be ready for CDBCs, with some crypto upside plus security of central banks. Big banks can poach talent from shrinking crypto companies. They can embrace entrepreneurial innovation while remaining at arms' length from the asset class itself (sic)!!!!
This is not the anti-establishment dream, but institutions will limit exposure to theft and fraud. Rehash crypto hate - unsupervised, could cause instability, risky for little people used to solid regulatory protection.
The answer is installing reg guardrails. Of course, real entrepreneurs will perform regulatory arbitrage. For example, crypto folks are pressing to be regulated by the CFTC instead of the SEC. Asset managers could provide a thin layer of security. This could help surviving crypto companies go institutional. They must be responsible, and grow up, protecting the vulnerable.
The REAL story: Man, this is a minefield to even talk about. We hate to disagree with the editorial board, collectively they are VERY smart and experienced, hard to catch out on blatant lies (unlike the rest of the paper lol.) But y'all know us, fools rush in where angels take a rain check.
The massive guns of the Ed Board swing around to focus on crypto against their will. It's clear the FT has been licking it's wounds as all the old stalwart crypto haters flip over. But let US kick the FT whilst down- they skipped the half of it, namely Schroder's going crypto, all the EU nations going Binance and crypto, the IA themselves calling for UK crypto, etc etc etc.
Let us proclaim one FU for saying Blackrock did not invest directly in any crypto. Blackrock bought a third of a billion dollars worth of BTC mining companies last year. Way back in 2018, BlackRock started internal crypto working groups. When asked, Larry said " oh no, no institutional interest." WTF, FT, Larry was just lying his ass off to y'all. WTF did ya expect Larry to say: "Yes, there is great interest, but we are not ready yet!??!?? Y'all go ahead without us."
There is 100% no way in God's green earth that Blackrock has 0% exposure to crypto. Mind.
FU with the crypto could become , up there with wine, a legitimate hedge for risk investors bull($#&#$(*&*!! Crypto has already been the greatest asset of the century. The Great Depression stock market crash went down 90%!!! Total crypto market cap peaked below 3 trillion, now above 1 trillion, what's that less than 60% !!? FU that "something" will remain.
FU for the CDBC love. There is no upside to CDBCs except for control freak fed banks. And scr-w the current state of inflation thanks to the BoE's phillips curve retardation. Big banks cannot go innovating, they can only buy small innovators. Trust us we've done it. And a GIANT FU for embracing blockchain innovation while ignoring the asset class. Look at the failure that is "blockchain" R3.
The regulators have screwed the little people of the UK against the wall. Tradfi regulation did nothing for scammed Wirecard investors. Nothing but years of low income and high taxes for investors always losing to inflation. Don't talk down to us while Granny is looking at cold sponge baths this winter thanks to the insanity of the kleptomaniacs running this fiat world.
But zoom out for the giant hypocrisy, like always. Oh, crypto is so bad for you little people, we must protect you with our great wisdom. We know, let the even greater wisdom of a multi trillion dollar manager guide and protect you! This is at a time where House of Lords UK politicians are setting up crypto services for rich people offshore. The blatant lie of pretending to protect the little people while taking all the advantages only for the big folks. Oh ya, banhammer, guardrails, whatever boomers. Asking for the CFTC instead of calling everything in the world a security is NOT an example of regulatory arbitrage. THAT would be watching the City shrink and die as the EU eats the UK's crypto lunch.
Let's count em: one FU for not saying Schroders & Binance in France Italy Spain etc. One FU for snidely saying Blackrock has zero crypto and for listening to Larry's lies. One FU for saying crypto could get up there with wine as an investment. Another FU for saying banks can prepare for the wonders of secure CDBCs, plus pick over all the dying crypto houses. What about FTX making a billion this year?? Another FU for saying banks can innovate like ETH without touching, who knows, ETH. The big bank consortium R3 "blockchain" failed, it stinks & is a joke, and their staffers have nothing better to do than to try and be quoted in the FT. And a final FU dropped as a nuke from orbit for saying that giant soul less machines like Blackrock will provide crypto security to the masses.
Blackrock is more into, like, crushing little people and buying all their real estate to rent back to them, and y'all damn well know that.
That's an unprecedented SIX out of FIVE FUs for this self deluding pile. It's funny cuz the FT thinks they are using circular logic to come to grips with the harsh (to them) reality that crypto ain't gonna GO TO ZERO, and it ain't TULIP BULBS. That's a record FU stack for an op-ed not misquoting stats.
We will probably pay for all this later, sorry for the negativity, not EVEN gonna let the judges weigh in. We read this bit online yesterday and it bugged us all day. Probably better to just skip the op-ed AND skip this rebuttal, lol!! Man, man, where is the love
oh here's some:oh no, wait, where IS the love we were promised?? 
Well here is some.
Peace,
love,
Dave