Hey Cypherpunk  Boys & Girls we looooooove y'all!  Bless your futuristic psyches for gracing the meta halls of the mighty mighty Publish0x to spread crypto group therapy, brothers and sisters!   forget the red and blue pills, dodge the black pills and bathe in the joy of the orange pill!!  

It's all good!  ETF, ETF, ATH yaayyy!!  Nigeria like several states, made crypto illegal, which introduced mass crypto adoption across industries from auto sales to paying the housekeeper.   Argentina issued a strange, wandering lost in translation statement drooling over the success of El Salvador's formal adoption of bitcoin.  Crypto will be taxed and kept free-ish forever!  China dumping BTC made BTC ecological and SAFU!!!  Central banks are staring bitcoin in the eye and thinking "hmmm, the only game theory defense against BTC is to buy BTC - and everyone gets the price they deserve...better cave in secret now and print to buy BTC ahead of the crowd..."  why they'll have to hold a bake sale to buy another three trillion dollars of weapons to give away...

Nah, just kidding.  Janet Yelling is looking forward to printing & spending 150 trillion USD to save us all from the green crisis.  The military has turned on Biden  since they had to leave their favorite middle eastern tree fort / airport near Iraq.   More importantly, Nigeria and China are leading the charge with CBDCs which dear readers will recall we consider stunningly wrong, Kafka-esque, leading to future evils unimaginable to anyone who has not yet spent time in a social currency controlled dictatorship.  

Wait, where is that all important humour?  Life, a comedy to those who think?  Well, watching the feds run the same playbook they used against gold is and will continue to be funny.  last time, they played step one, confiscate the gold, then step two, massively depress the true price of gold through the futures market. 

OK it's all different this time, they are running step two first!  Hey kids, remember step one about this time last century!?!?  Gold was hard money.  Which screwed with the kleptocrat's freedom.  So they BANNED ALL THE GOLD FROM PRIVATE OWNERSHIP!!  Yes, they took it all from private hands at half price.  Then they doubled the price!  hard to believe, gold was illegal to own all the way UP TO THE SEVENTIES.    Think that could happen again?  Trust us, Jerome Powell has a whitepaper already on file ready to go on how & why to do it.   Namely the banks will all act as a proxy for the government. 

Step two last time?  the people called it "paper gold."    Pity the goldbugs, they had so very much right, but they all got screwed anyway.  Any lessons for us futurists?  First the good news - when gold ETFs came out, they drove the gold price up pretty good, maybe 5x over several years.  Then the bad news - the markets and government played happy games together with "fractional" /  imaginary reserves on the ETFs and unlimited spending.  Hey, isn't that what Letia is charging against Tether?  Huh maybe if Letitia makes Governor she will decide Tether is a good New York taxpayer and protect them instead of breaking them. 

Yeah, Barclays paid a decent fine,  44,000,000 USD in 2014 for screwing around with the London gold fix, JP Morgan pled guilty to similar.  But ultimately the gold ETFs and the regulations  finally succeeded in breaking gold as a true store of value, hedge against inflation and money degradation.   Which left the almighty greenback fiat printing machine to rip unchecked.  3.5 trillion = zero.  Be careful what you wish for there Biden admin.   

 Don't believe us about the Gold price fix?   believe the GATA, the gold anti-trust action committee.  Ask them how institutions manage to manipulate the price of gold on such a global scale - their treasurer Chris will reply “It’s done largely in the futures markets." “It’s also done in the London over-the-counter (OTC) market. The mechanisms are gold swaps and leases between central banks and bullion banks, and through the sale of futures contracts.”  Here's the BIS in action  wow, that graph started with the WGC, the World Gold Council !  Dear readers will remember our doing research distribution tech work at the WGC's sweet NYC office, with the jewelry displays, the waste baskets that open as you walk by, and the sweetest most amazing looking zoftig hot receptionist - to look at her was nearly impossible due to the jet engine shimmering heat effect coming off her as you asker her to hold your motorcycle helmet... sorry, that was the World Gold Council, complaining about the evil and probably illegal actions of the BIS.  But who is the BIS? Wait, this lardass came to the attention of our ire before for some horr horr horrrible things he said, but this is him too?   Oh look surprise surprise, dear readers will remember our poster boy for central bank gluttony, Carstens!! The BIS, the Bank for International Settlements is doing the dirty work, ""led" by this unelected portrait of self interest, straight from a 1950's comic book cliche of evildoer, Carstens. 

Shazam! Gensler and the CME have created the perfect handle for the Fed to snatch up, hook it to their supercharged printing press ( maybe indirectly through the banks)  and beat the ever loving holy chit out of BTC. In a stunning twofer, they also created paper bitcoins, AKA chitcoins.  The first ETF took in 1.2 billion USD in the first three days.  That's well over 1% of total daily trading volume for BTC.  And absolutely zero percent of those BTC ETFs flowing in hit the key feature of BTC; scarcity.  No, no verifiable ledger, no provably honest, no hard money aspect of BTC for those billions.  Carsten's giant belly is rolling as he laughs.  

don't worry we are sure we can trust the government.  History won't repeat. No way will they do anything to BTC like they did in the past to gold.  So sure the government won't pay the banks to buy up all the bitcoin they can, then crash the price and buy up what's left, and then declare only the banks can own BTC.  Noone would ever think of that.  Hmmm hard wallets look smarter every day

Love 

Dave