It’s gratifying to see that my sneering disposition toward crypto isn’t blowing up in my face. Indeed, the entire crypto insanity – – which may well turn out to be the biggest financial wipeout in human history – – is looking awfully sour. David Sacks, the grotesque (but chosen) Crypto Tsar of the U.S. of A., has weaseled his way into the White House on behalf of himself and his billionaire buddies to make even more billions off crypto with such monstrosities as the so-called GENIUS Act.
You can see how much good it’s doing:
The New York Times did a big expose on Sacks and his techniques, which caused a rapid uproar amongst those with a huge stake in Sacks’ success to cow the nation into this crypto crap. For instance:
Of course, all the regular folks responding to this shaft-sucking sycophancy offered their own 2 cents:
I have a special dislike for Sacks since, back during the Silicon Valley National Bank bailout (which he supported) I suggest he was a Private Profits/Public Losses kinda fella, which led him to ban me, thus creating an accidentally hilarious juxtaposition on my Twitter account:
If you’ve ever dealt with crypto bros, (1) I’m sorry for you (2) you know all too well what incredibly thin-skinned, unhinged lunatics they are. It gives me a warm feeling to see the entire space puking in its soup. I mean, Bitcoin is the blue chip among them; thousands of coins have been wiped out completely, and the #2 scam, Ethereum, has lost almost 50% of its value in just a couple of months. It’s de-li-cious.
Sadly, equities still have life in them. The /NQ, shown here, was tumbling quite nicely until today’s open, but shortly thereafter it started getting bid up again. It’s still red, but c’mon, give me a quadruple-point loss, fella!
