Devotees of digital assets, we adore ya! Intrepid cryponauts, we love you for showing us all the genius of humanity striving for higher moral grounds above fiat abuse here on the N+1 th dimensional Publish0x!
Dearest cipherpunks, we miss you, here is tonight's love letter Ya, OK, we got white line fever tonight badly. Even wanted to play reading music of "white line fever" by MERLE, fortunately for y'all the judges ruled we stick with all time top punk rock love songs, this one's a heart twangerGive up the love for the eighties flock of seagulls big hair and girls shaving over one ear lol!
Changing the fabric of FT crypto coverage one chitpost at a time, baby, with love for you from us!
Today's salmon coloured lady: welp, there's a meh critique of Roxy Music hitting the stage 50 years on:
We always kinda liked Roxy Music, they had hits - Love is the Drug, There's a band playing on the Radio, and a sax and Ray & they were great and Prairie Rose is lovely and great suits--- ok, we're gonna say it, they were really more for girls, lol!! One funny though - our lovely wife wanted to see them at Madison Square, we paid up thru Ticketbastards. When we got there, our ticket's row and seat numbers did not exist, as every usher told us. Eventually, freaking out, we were referred to the head union guy, who looked around, then whipped out folding chairs and set them up!!!! The power of the NYC union!! Not to mention the monkey biz!! Can you say 100% profit on scalped manufactured seats, lol...good seats tho!!!
Crypto that dare not speak it's name- the UK gummint scrapes kitty litter over their aborted attempt at Austrian economics. It's funny, we know, peace was restored after agreeing to not try anything after all, just accept slow grinding defeat. It DOES bother us enough that we wanted to say this: 
TLDR: the FT's "calculations" cleverly present as 100% mathematical FACT the absolute, 100% DENIAL of any POSSIBILITY that the Laffer curve might work. Nope, none, nein, putzfrau, here it is in salmon, yellow and teal (or something, we are not THAT good with colours!) C'mon, quit lying. IF income taxes were reduced by X, there would be SOME compensating increase in tax revenue Y as people quit avoiding taxes and instead earned more money. Same if VAT was cancelled, more income would come in corporate taxes. Plus all that stimulation !!! so loved that it got us in this mess in the first place.
Nah, none of that exists, see here little people!?!? Clear little pictures show that Kwasi was 100% wrongo.
Really? Repeat the top ten Wall Street / City chestnut - this is our Econ model, it ESTIMATES to ten significant digits, ROFL. In this case, bonus extra false precision as we ignore Laffer 1000%. Jeez FT we had not noticed the Nobel prizes for "conservative" (?) economic theories cluttering YOUR cupboard.
AH well, LIz, ya fought the law and the law won!! Hold your head high as the scurvies make ya walk the plank. There are always those we are PROUD to have hate us!!! 
Too bad y'all are too much smarter than us to take any cold comfort there!
To prove this overall arc, NO crypto in the print edition AGAIN TODAY!! we must PAY for that Monday Morningstar crypto pricing, the FT haf vays of making us PAY!!!
Giant metaphysical funnies - Scotland's Sturgeon vows to launch an indy currency the minute they win freedom from the UK. Even funnier, Scotland is already running at like a 12% deficit to GDP, compared to the UK's 5%. WHAT could go WRONG ah hah hah hah. Hedgies are praying it turns out to be true!!
Our boy Mighty MO weighs in- he was there in the Washington boiler room for the 2008 crisis: 
TLDR: Mo sez the big meets in Washington this week resulted in no group decisions to take action, cause there are no "new tools." In 2008, big followups worked and avoided big damage. This week, the gloom is universal (IMF: the worst is yet to come) and the blame game is PUMPING, lol!! It's all the fault of Russia!! Or else the US Fed!! It's the Dollar's fault! The IMF FAILED to see it coming and failed to co-ordinate policies!! The World Bank made it worse trying to help developing nations!!
Once again, like 2008, the biggest systemic risks are coming from the strongest countries! Mohamed, tell it like it is.
Last time, the central banks held it together with action, this time there is that "insufficiency of tools" thing again. Everyone is just going home dispirited. The Fed HAS to keep on raising rates, which will make the dollar keep on wrecking the global economy, hurting the weakest. Each country will go for itself (looking at you Germany starting the trend) and this will be suboptimal globally. At the end, Mo says maybe THAT will be the catalyst for action like back in 2008. 
The REAL story: Usually Mo is quite direct. & a lot smarter than us!! But this time it seems like Mo is saying something without saying it. We think Mo is saying LAST time, the gummints got together and printed a chitwad of fiat to paper over the cracks around the world. This time, that ain't in the cards, in fact all that modern monetary theory fiat fountain printing has BROUGHT us to this savage inflationary hellscape. Are we right, Mo? Break it DOWN for us man!!
Online, we get one kinda nothingburger, dang: 
TLDR: here we have the unelected, in fact un- influenced by elections AT ALL, EU fin services chief Mairead McGuinness telling the US to reghammer harder & faster!! The FT loves this, they publish HER face, unlike Hester yesterday, lol. We need GLOBAL reghammering!! Mairead was in DC, saying the EU has a lot of concern if crypto is not regulated.
The EU has a big block of reghammering going into law in 2024 on stablecoins and of course, ESG impact of crypto. In the US we reghammer exchanges but not so much coins.
Rehash Terra USD. Congress is drafting law to make the Fed rule over stablecoins, and banning algo stablecoins for two years. Congress can NOT agree about how hard to slam consumers trying to buy stablecoins, and how much crypto power the Fed gets. & they REALLY cannot agree about are chitcoins securities, and does the CFTC or the SEC hold the reg hammer?? 
The REAL story: Well, McGuinness, as concerned citizens of planet earth - We are very worried over the plight of the EU, drowning in bad government useless reghammering. Remember how fifty years ago, the EU and the US each had about 30% of the worlds greatest ( biggest) companies? And now, the US still has their 30% but the EU is down to like 10%?? That's SO not awesome. Really, can you say economic losses for the masses?? Remember Mo says it's always the poor that pay the most when things are going down.
Let's rephrase: The EU has a huge, market untested reg bundle, please Merica do the same thing right quick so it doesn't look like we killed our own industry. Lol, the EU doesn't even HAVE a stablecoin to KILL!!!!
Or, we could wait and see how that works out for ya, EU, huh?? News flash: 100% there will be NO fully global regulations. We promise. There will ALWAYS be regulatory arbitrage. Ask the Cayman Islands!!
Also, it's hilarious, pretty cheeky talk coming from an Irish person!!! Ireland has fought against global corporate tax rate regulation for DECADES. The entire Irish ECONOMY is based on being the POSTERBOY for regulatory arbitrage!!! Really, it's so true it's a joke, none of the Irish GDP stats ever make any (U#($#(*&#(!!! sense compared to, well, anyone, cause it's ALL trillions of expat money sloshing around, Apple hiding from the global taxman. Hush, McGuiness, you screaming hypocrite. Hush, FT, you know this so well you never let Ireland join in any FT GDP graph/stat games!!! See, lookit, we are getting better, saying hush more and STFU less!!!
Zoom out: the gummints think they understand fiat, so they think they understand stablecoins, and want the same power. Nuking experiments like MakerDAO are 100% going to sub-optimize the market, killing a chance of a stable self feeding coin distributing backing interest to the people. But then we guess that's the POINT if yer the one issuing the bonds!! 
Clearly views like ours are not in vogue these days, but it's still true; market forces, LEX, the law of the markets, is the ONLY way to optimize any number of pursuits. Centralized, total control global planning WILL fail badly. Remember when China was going to be worth more than the rest of the world by now? And Japan before them?
We have already paid the terraUSD price, let the market FINISH deciding, anything else will prove stupid. And, just like Tornado, unenforceable, at best just destroying local stablecoins further.
While our views may be very unpopular with the old reg hammer holders, we DON'T CARE AH HAH HAH HA HA HA !! It's STILL really funny, tho we have said it before. Hey girls and boys, wanna see a special sneak preview test model experiment of what happens to YOUR favorite local stablecoin once it is (over) exposed to regulation / censorship? this one just keeps on giving!!! HEeeerrrreees CIRCLE!! Remember, CIrcle, in their joy to be Blackrock / US Gummints favorite son, proactively, unasked, swiped a lousy 75K of their stablecoins back from people who touched people who touched Tornado cash. Viz that date - was it August 8th right about?? Lookit that market cap action!! & don't forget to laugh at the volume graph: 
Ar ar ar ar hah hah hehe!! And, it don't seem to be stopping, do it? Compare and contrast, small minds of the reg hammerers!! Here’s two other market experiments, BUSD: Hey can we say mirror image?? 20% DOWN, vs 20% UP!!! 
Nyuk yuk yuk. Here's the big daddy Tether, 
Even funnier, if possible, before these shenanigans, Tether was steadily losing BIG ground to the seemingly more attractive Circle. Law, we say LAW of the markets. They say it ain't like that but it do be like that!!
OK, OK, we are so far gone we are about to play y'all Johny Cougar playing White Line Fever, we gotta hit the hay. Thanks, we love y'all!! time after time!!
Peace out,
Love
Dave.
please please talk someone into being the first to use our link, lol ambassador link: https://www.publish0x.com?a=WZdPKv2bKg
follow us on twitter, we will follow you!! @davidsawyer
Cyndi's style was SO big in Houston, couldn't help but love her four octave self !!!
Lying in my bed, I hear the clock tick and think of you
Caught up in circles
Confusion is nothing new
Flashback, warm nights
Almost left behind
Suitcase of memories
Time after Sometimes you picture me
I'm walking too far ahead
You're calling to me, I can't hear
What you've said
Then you say, "go slow"
And I fall behind
The second hand unwinds If you're lost you can look and you will find me
Time after time
If you fall, I will catch you, I'll be waiting
Time after time
