Cryptopeople we love you.  So good to be together here on the summery day of the great Publish0x, moving as one  existentially pulling humanity to a freer level above fiat degradations. Hope that y'all are reading this at the beach!! With girls and the dog!! 

Crypto in the FT on monday all over the world. The FT is changing the fabric of OUR crypto coverage with that depressing hole where the crypto should go every Monday.  Slipping off the love wagon pretty fast there, sorry, but the FT just spits on the crypto market each and every Monday, we must sent a volley of FU's flying THIS monday.   Right on the front page, so we all know it. 

Love for the fams, #($#&$*(&!!! that's better.  Today's FT!! Yay!!  Crypto that won't say crypto:  Live reporting from Jackson Hole:  David Malpass, we remember as a hardass at Bear Stearns lol, says rate hikes won't work, production and supply chains are full of friction. Isabel says larger persistent frequent shocks are a-coming.  Powell says sustained low growth bad jobs. 

The REAL story:  rate hikes won't work, because measured inflation is a big fat managed lie. Everyone knows the Taylor rule:  the only HOPE of lowering inflation is to white knuckle  interest rates ABOVE the inflation rate.    Which won't happen, because the true rate of inflation is so freaking 2x higher than they say it is high that no politicians can touch pushing real interest rates up to hit the Taylor rule. It's funny, they would have to be like "weeellllp, ya we gotta push interest rates to 20.5%. What was Volcker, 18.5% prime?wow, no!! The prime hit 21% in 1980!!!!  so, let's try again, YA, even tho inflation is only 10%, seriously we gotta raise rates to 22% to stop inflation. Believe us. 

Prediction: Feds are now pretending that the Taylor rule only applies on a month by month basis - raise rates each month by how much inflation goes up.  Executed on whatever rando basket of goods catches the magpie eye of the gummint.  So, official inflation will go from 8% to 18% one point at a time, while rates might go up from prime rate now 5.5% to 15.5% chasing behind one point at a time?? No-ones gonna fill the Taylor rule.  That's called chasing the market baby.  Stagflation here we come.  LIke, ya either believe this stuff works, so do it, or not, then don't, but this halfway tough talking measures sounds like magical realist thinking.  

translation:  Hello inflation stealing the money from the people for the gummints.  3% is the new TARGET!!! If yer LUCKY!!  Little one!! 

Powell will not raise again before the midterms, hell he might cut  at the end.  They kremlin watch invoke Volckers, but the fed rate is where right now - 2.5%. LMAO.  That's STILL free money if the new target is 3%. 

TradFi Corruption watch - the entire system and model of privatized British utilities and regulators is broken.  Energy prices not tied to cost of production meant "supernormal" profits.  Ofwat regs themselves pouring pollutants into rivers and seas. 

Fun letter about the  Lex column where tradfi accounting giants KPMG are getting sued for over a BILLION, already fined eight figures over their decades long stack of lies about Carillio scandal.  Legally, hiding in jargon, KPMG never ack shu ally CLAIMED to be auditing anything?  Arf arf arf arf.  Silly lawyers.  Enjoy the fees from the lawsuit, sure that you will. 

Crypto says crypto not really about crypto: the FT oddly conflates big tech with crypto.  We think this makes the FT  more comfortable with mentioning Thanos con artist Elisabeth, who dropped out of Stanford at 19 to wear Steve Jobs turtlenecks and rip off investors.  Real story:  Crypto takes the torch from Silicon Valley.  Go beanbag sleeping Sammy, go!! 

That's IT for crypto in the print version.  Oh, the FT inserts crypto into unrelated articles to draw eyes - a article about internal schwag trying to please employees who may have never met in person.  We love inter-company exec schwag, and the psychological game of schwag is hilarious - if accepting schwag, you have to believe it and the giver are good - or else believe you are an idiot & they know it lol!   Here the FT knows internal schwag marketing is a bit off, so they try to conflate crypto clients with that weirdness. 

In an article on gang crackdowns in El Salvador, the FT of course has to conflate BTC with tough on crime credentials bordering on facism. 

but actual crypto?  none of that.

In the online version,  it's the same picture!! lol.  Singapore's MAS is tightening up on crypto!! TLDR: MAS will restrict retail access to crypto. But they still believe in the transformative powers of tokens.  Mixed signals continue.  Sing, like HK before it, has zero natural resources and depends on financial hustle. Investment in crypto companies went 10x last year to hit 1.5 billion, half of all Asian-Pac.   Everyone wanted a Sing license, now Binance quit on theirs. 

Rehash, D'oh Kwon, broken arrows, hodl nought.   Sing has already banned ads, and dismantled crypto ATMs. 

Lawyer Leung says Do restrictions make sense when there are infinite overseas platforms?  

The real story:  MAS looks like Wiley lately: trapped in unending hells of his own  desire.  Here we see MAS spinning desperately, saying nothing new.  Remove the visible stuff for the little people.  Just like Wiley, in a way ya can't blame em for trying. Y'all are correct, Lawyer Leung, banning exchanges won't work. MAS loves the billions in investments, just  trying to keep the narrative out ahead of the  of the explosions.  Too late, really, Hodlnaut was yer waterloo, MAS, ya gave them a license and then busted them the next month, WTF really was THAT.  Relax and enjoy the ride now!!

Just like us.  Peace, 

love

Dave