bitcoin isn't backed by anything its literally the ultimate scam
I posted this on another forum on a bitcoin thread. I was banned instantly (within minutes of posting this info) by the cia shill mods. lol
Bitcoin was started by the Feds to stop the rise of gold and silver.
4 Reasons to Believe the Deep State (or the NSA) Created Bitcoin
Who is the creator of Bitcoin? The mysterious Satoshi Nakamoto, who has written the Bitcoin Whitepaper, has never been identified. Since 2009, there have been many theories of whom created
Bitcoin. Some even think the NSA
created it.
1.) They did create part of it for sure
SHA-256 is the secure hashing algorithm which is an essential part of Bitcoin’s architecture. It is an NSA hash function algorithm first published in 2001.
This is a really excellent lecture about SHA-256 and how it is used by the Bitcoin protocol, because it’s very technical (instead of using metaphors to describe how Bitcoin works), and someone who isn’t a computer nerd can take most of it in and understand what he’s saying:
SHA-256 is a set of instructions designed and written by the United States National Security Agency (NSA) that tell a computer to follow a series of mathematical steps with any input, in the form of a string of information of any size.
One thing these steps do to an input every time is
compress it into an output that is always a 256-bit value called a hash. The other is
encrypt it: The mathematical operations in these steps and the values they use as operands cannot be done in reverse to find the input using the hash.
So the hash can be used as a fingerprint for the original data because it is impossible to guess what the output will be for any value before running it through SHA-256––
And the resulting hash appears completely random, but it is the result of a deterministic process that will produce the same hash for the same input every time.
So SHA-256 (secure hashing algorithm 256) is a cryptographic one-way compression function.
If you have the hash you can verify that someone else has the input value by running it through SHA-256 to see if you get the same hash. This specific hashing algorithm is an essential part of how Bitcoin works, as very eloquently explained by Antonopoulos in the lecture above.
2.) Satoshi Nakamoto Means “Central Intelligence”
From Wikipedia:
https://en.wikipedia.org/wiki/Satoshi
From Ancestry:
https://www.ancestry.com/name-origin?surname=nakamoto
Now, this could be a giant coincidence,
but it’s unlikely that it is one. What’s indisputable is that whoever created Bitcoin used “Central Intelligence” in Japanese as their moniker.
Of course, that’s not proof it’s the CIA that created Bitcoin.
It could have been the NSA that named Bitcoin’s pseudonymous creator “CIA” in Japanese as a joke or to throw people off the trail.
Or it’s possible that non-Deep State programmers did this as a joke or a red herring.
3.) How a cryptocurrency benefits the Deep State:
The Deep State would want cryptocurrency to exist. As Bitcoin’s critics like to say, it’s something perfect for organizations that have clandestine operations (like the CIA is known to have).
It’s a way for the Deep State to have a financial infrastructure outside the watchful gaze and control of institutional finance on Wall Street or any other banks on the planet.
The Deep State would have loved to have cryptocurrency back during
the Iran Contra affair with Oliver North, the Marine Lt. Col who ran a secret operation (maybe for Ronald Reagan himself) to move money from the Middle East to Nicaragua to financially support Contra rebels.
4. DOJ Cybercrimes Prosecutor Explains How BTC Helps The FBI Catch Criminals
Crypto makes it easier for the Deep State to hide what it’s doing, but it also makes it easier for them to see what criminals are doing.
In this lecture about a cybercrime drama so fantastic it could be a fictional movie plot, a former DOJ cybercrimes prosecutor explains how useful the public record of accounts and transactions on the Bitcoin blockchain is for Deep State police investigating crimes.
The thing about Bitcoin is it’s not private. It’s completely transparent. Every account, and every amount, and every transaction is all available on a giant, public document that is maintained on something like 10,000 different nodes.
On Bitcoin’s blockchain account info doesn’t hide behind a password that only a trusted institutional administrator has–– as with fiat banking. The Deep State, always keen on surveillance, has already made hay of this whether it created crypto or not.
https://www.ccn.com/4-reasons-to-believe-the-deep-state-or-the-nsa-created-bitcoin/
Why? Back in 2006 to 2008, silver and gold libertarian investors were buying up gold and silver. Threatening the Federal Reserve Notes. Gold back then was anti-dollars. And Wall street banks were shorting gold and silver to suppress the price of gold and silver.
Why the Collapse of Bear Stearns Changed the Silver Market Forever
Very few people know exactly what was said, promised, discovered, obfuscated, threatened, etc. in the dark and high-tension days surrounding the collapse of Bear Stearns and its taxpayer-subsidized subsequent digestion by JPMorgan.
What is irrefutable is that JPMorgan inherited Bear’s enormous and disastrous short silver position. How they would deal with it in response has fundamentally altered the silver market, while simultaneously setting it up for a historic rally.
Bear Stearns’ failure coincided, to the day, with gold hitting all-time highs (over $1000) and silver hitting 30 year highs ($21). It’s easy to calculate that Bear lost more than $2 billion in being short gold and silver from yearend 2007 to mid-March 2008.
The discovery, in September 2008, that JPMorgan was now the largest short seller in COMEX gold and silver made it clear that the CFTC lied in its previous public letters denying there was no problem with big shorts in the silver market.
Only after JPMorgan bought enough physical silver by 2012 to 2013 to cover Bear Stearns’ former COMEX paper short position, did it realize it didn’t have to stop accumulating metal as a defensive measure; but that it had the means, motive and opportunity to turn what was a highly defensive original motive into a highly offensive one in terms of an unprecedented pure money-making opportunity.
Why else would JPMorgan, perhaps the purest example of a profit-making machine, go on to buy 700 million ounces of physical silver, if not to profit? Not that it may matter much when JPMorgan switched from defense to offense, but none of this would have probably occurred had JPMorgan not taken over Bear Stearns. That’s why I feel the takeover is the most important development in the modern history of silver.
https://goldsilver.com/blog/why-the-collapse-of-bear-stearns-changed-the-silver-market-forever/
Gold and Silver Margin Call - The Real Reason for Bear Stearns Collapse
Commodities /
Credit Crisis 2008 Feb 19, 2014 - 03:20 PM GMT
By:
Jesse
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Ted Butler has put one of his newsletters into the public domain.
It raises some interesting points. As you may recall Bear was suffering losses in a number of financial instruments at the time. But there has not been serious discussion about their precious metal positions.
At the time of the MF Global collapse it appeared that JPM had their fingerprints all over the squeeze and margin call that put them down. JPM, In the City of London, With a Margin Call.
But I had never thought about it happening in the case of Bear Stearns.
Goldman may be the vampire squid, but JPM may be Mack the Knife.
And is MF Global Jenny Towler, and Bear Stearns Schmul Meier? And if so, who then is Tiger Brown?
Mackie, what price did you pay?
Times may change, but the song remains the same.
What Really Happened To Bear Stearns?
By Theodore Butler
February 17, 2014
Six years ago the well-known investment bank Bear Stearns imploded. In February 2008, Bear Stearns stock traded as high as $93; by mid-March the insolvent company agreed to be taken over by JPMorgan for $2 a share (later raised to $10 after class-action lawsuits). In the annals of Wall Street, there was hardly a more sudden demise than the fall of Bear Stearns. The cause was said to be a run on the bank as nervous investors pulled assets from the firm. Bear Stearns was said to be levered by 35 times, meaning it had equity of $11 billion and total assets of $395 billion. This is a very small cushion if something negative suddenly appears.
Something negative did hit Bear Stearns in the first quarter of 2008; although there are remarkably few details of what went wrong. Since Bear had a significant presence in sub-prime mortgages and that market was in distress, it is assumed the fall of the firm was mortgage related. That may be true, but there was no general stress in the stock market through mid-March 2008 reflecting a credit crisis. Was there instead some specific trigger behind the company’s sudden collapse?
I believe that sudden and massive losses and margin calls of more than $2.5 billion on tens of thousands of short COMEX gold and silver contracts were the specific triggers that killed Bear Stearns. Let’s face it – Bear was so leveraged that a sudden demand of more than $2.5 billion in immediate payment for any reason could have put them under. Bear Stearns’ excessive gold and silver shorts on the COMEX are the most plausible reason for the sudden demise.
Bear Stearns did fail and due to a sudden cash crunch was acquired by JPMorgan for a fraction of what it was worth two months earlier. Bear Stearns was the largest short in COMEX gold and silver at the time. The day of Bear Stearns’ demise coincides precisely with the day of the historic high price points in gold and silver. That is also the same day the biggest COMEX gold and silver short would experience maximum loss and a cumulative demand for upwards of $2.5 billion in cash deposits for margin. It was no coincidence the music stopped for Bear Stearns that same day...
Read the entire article
here.
By Jesse
http://jessescrossroadscafe.blogspot.com
Welcome to Jesse's Café Américain - These are personal observations about the economy and the markets. In plewis
Providing information, we hope this allows you to make your own decisions in an informed manner, even if it is from learning by our mistakes, which are many.
http://www.marketoracle.co.uk/Article44494.html
Ted Butler Bombshell: Gold & Silver Short Positions Killed Bear Stearns!
Submitted by Ted Butler
Six years ago the well-known investment bank Bear Stearns imploded. In February 2008, Bear Stearns stock traded as high as $93; by mid-March the insolvent company agreed to be taken over by JPMorgan for $2 a share (later raised to $10 after class-action lawsuits). In the annals of Wall Street, there was hardly a more sudden demise than the fall of Bear Stearns. The cause was said to be a run on the bank as nervous investors pulled assets from the firm. Bear Stearns was said to be levered by 35 times, meaning it had equity of $11 billion and total assets of $395 billion. This is a very small cushion if something negative suddenly appears.
Something negative did hit Bear Stearns in the first quarter of 2008; although there are remarkably few details of what went wrong. Since Bear had a significant presence in sub-prime mortgages and that market was in distress, it is assumed the fall of the firm was mortgage related. That may be true, but there was no general stress in the stock market through mid-March 2008 reflecting a credit crisis. Was there instead some specific trigger behind the company’s sudden collapse?
I believe that sudden and massive losses and margin calls of more than $2.5 billion on tens of thousands of short COMEX gold and silver contracts were the specific triggers that killed Bear Stearns. Let’s face it – Bear was so leveraged that a sudden demand of more than $2.5 billion in immediate payment for any reason could have put them under. Bear Stearns’ excessive gold and silver shorts on the COMEX are the most plausible reason for the sudden demise. Bear Stearns did fail and due to a sudden cash crunch was acquired by JPMorgan for a fraction of what it was worth two months earlier. Bear Stearns was the largest short in COMEX gold and silver at the time. The day of Bear Stearns’ demise coincides precisely with the day of the historic high price points in gold and silver. That is also the same day the biggest COMEX gold and silver short would experience maximum loss and a cumulative demand for upwards of $2.5 billion in cash deposits for margin. It was no coincidence the music stopped for Bear Stearns that same day.
Gold prices rose from under $800 in mid-December 2007 to $1,000 in mid-March 2008, a gain of more than $200. Silver prices rose from under $14 in mid-December to $21 when Bear Stearns failed on March 17, 2008. That was a gain of $7. This was the highest price for silver and close to the highest price of gold since 1980. Obviously, a $200 rise in the price of gold and a $7 rise in the price of silver is not good if you are the biggest gold and silver short.
The concentrated short position of the 4 largest short traders in silver was at an extreme level of more than 300 million ounces. In contrast, the concentrated long position of the 4 largest long silver traders was a bit above 100 million ounces. In COMEX gold, the big shorts held two and half times what the biggest longs held. Since we know that Bear Stearns was the largest short in COMEX silver and we also know how much gold and silver prices rose in that time period, all that has to be established is how many short contracts Bear Stearns held. That would tell us how much money they had to come up with in margin money. All market participants on the COMEX, including the leading clearing member (which Bear Stearns was), must deposit additional funds daily to cover adverse price movements.
Thanks to historical Commitments of Traders report (COT) data from the CFTC, in the relevant time period (December 31, 2007 to March 17, 2008) the net short position of the 4 largest gold and silver shorts on the COMEX averaged 165,000 contracts and 60,000 contracts respectively. My analysis indicates Bear held 75,000 net gold contracts short and 35,000 net silver contracts short. Those are minimum numbers, as I think Bear’s position could have been higher.
A $200 adverse price move on 75,000 COMEX gold contracts would result in a mark to market loss and margin call of $1.5 billion. A $7 adverse price move on 35,000 COMEX silver contracts would result in a mark to market loss and margin call of $1.2 billion. Bear Stearns had to come up with $2.7 billion because gold and silver prices rose sharply in the first quarter of 2008 and the company bet the wrong way. That it couldn’t come up with all the margin money for the losses in gold and silver, is the most visible reason it went under.
What happened to Bear Stearns was exactly what I had warned the Commodity Futures Trading Commission (CFTC) about continuously for the twenty years before the event. Aside from the manipulative impact that a concentrated market corner would have on price, the biggest risk was what would happen if the largest short ran into trouble. The facts in the case of Bear Stearns indicate that the worst did occur. The biggest short did go under. During the relevant time period, I was in private email contact with CFTC Commissioner Bart Chilton who indicated that the Commission was considering silver matters closely and that there would be a finding published soon. The subsequent CFTC finding was released on May 13, 2008 and completely denied anything was wrong on the short side in COMEX silver due to large traders.
Here’s the problem – the report lied. It conveniently ignored the failure of the largest COMEX gold and silver short seller, by only considering events through Dec 31, 2007 and not through the March 17, 2008 date of Bear Stearns’ failure, a clear lie of omission. How could the CFTC issue a report on large traders on the short side of silver and overlook that the largest short trader of all went under because of that short position? It has taken me some time to see all this in the proper perspective. What I now see is deeply disturbing, but it answers many questions. Even though I petitioned the CFTC about the illegality of the concentrated short position in COMEX silver for decades, they disregarded those warnings. Then Bear Stearns went under for precisely the reasons I warned about. Subsequently, the CFTC kept it quiet and denied all allegations.
http://news.silverseek.com/SilverSeek/1261415180.php
Any regulator worthy of the name should have known that a lopsided, large trader mismatch was dangerous on the short side. Having misjudged just how dangerous the situation was, the CFTC and the CME Group put in motion a scheme to save the shorts and punish gold and silver investors. By arranging, with the Federal Reserve Chairman and Treasury Secretary, to have JPMorgan take over Bear Stearns’ silver and gold short positions, the US Government embarked (or continued) on a journey of allowing price manipulation, in stark violation of commodity law.
Since Bear Stearns was a failure that threatened the financial system, it necessarily invited the involvement of the nation’s highest regulators, the Treasury Secretary and the chairman of the Federal Reserve, as the historical record indicates. Both had to be aware of the gold and silver margin problem at Bear Stearns. Additionally, since Bear Stearns was the leading clearing member of the exchange, you can be certain that the CME Group was more than aware. The CME was the one issuing the margin calls to Bear. Also, there is no way that JPMorgan wasn’t aware of Bear Stearns’ gold and silver predicament. Yet none of this was made public.
These facts indicate that everyone at the top had to be aware that excessive gold and silver shorting was at the center of the Bear Stearns fiasco. Since the Feds requested JPMorgan’s assistance, there can be no question that JPMorgan demanded (and received) permanent immunity from future gold and silver allegations. This explains how they have been able to establish market corners in gold and silver today that commodity law prohibits. Had not the U.S. Treasury Secretary, the Fed chairman, the CFTC, and the CME agreed to JPMorgan’s takeover of Bear Stearns’ gold and silver positions, the excessive market concentration and manipulation in these markets could not have continued.
The interference of the U.S. Government in the Bear Stearns affair explains what was previously inexplicable: why the CFTC couldn’t find anything after investigating a silver manipulation for five years, and why the CFTC and CME were deathly quiet in reaction to the giant price smashes in gold and silver, particularly the two 30% price smashes within days in silver in May and September of 2011.
What baffles me today is that no well-known journalist from outside the gold and silver world has yet picked up on what is an easy-to-document story of epic historical proportions. It’s the story of why Bear Stearns went under, and how the gold and silver price manipulation continued since the day JPMorgan took over Bear. I think the story has Pulitzer Prize written all over it.
https://web.archive.org/web/2021041...d-silver-short-positions-killed-bear-stearns/
With the banks failing in keeping down the rising investing in gold and silver, the deepstate stepped in and invented bitcoins, to be not only the distraction to gold and silver investors. To be the new anti-dollar play. To replace gold with bitcoin as the replacement of the dollar if the dollar collapses.
Bitcoin ‘Next Logical Stop’—Saylor Makes Huge $10 Trillion Crypto Price Prediction
Bitcoin has swung wildly this week as traders braced themselves for
a Federal Reserve "sledgehammer" that could trigger a crash "worse than 2008."
The bitcoin price has crashed back under $20,000 per bitcoin after trying to climb above the psychological level earlier this month—
pushed lower by a surprise Biden administration warning.
Now, Michael Saylor, the chairman and cofounder of software company turned bitcoin acquisition vehicle MicroStrategy
MSTR -8.9%, has predicted the value of bitcoin will overtake gold within ten years—potentially giving bitcoin a $500,000 price and a market capitalization of $10 trillion (
despite one Wall Street CEO branding it "dangerous").
"The next logical stop for bitcoin is to replace gold as a non-sovereign store of value asset," Saylor told MarketWatch this week, adding gold is a $10 trillion asset. "Bitcoin is digital gold, it's 100-times better than gold and if bitcoin goes to the value of gold it goes to $500,000 per bitcoin."
Without naming an exact date, Saylor said he expects that to happen within the next ten years, predicting that bitcoin will "institutionalize," first regaining its position as a $1 trillion asset before exploding to $10 trillion.
In recent months,
the world's largest asset manager Blackrock "opened the floodgates for institutions to access bitcoin," and investment giant Fidelity is reportedly weighing offering bitcoin trading services to its 34.4 million retail investor base.
However, Saylor warned he doesn't have a short-term price prediction, saying he has no idea what the bitcoin price will be 12 months from now but noting the extreme price volatility across all asset classes due to the Federal Reserve's monetary tightening policy.
The bitcoin price "has touched [$20,000 per bitcoin] a few times. I think this is stable," Saylor said, pointing to the bitcoin price's moving average over four years for a potential bottom.
https://www.forbes.com/sites/billyb...lion-crypto-price-prediction/?sh=1ab1dbec2d05
Bitcoin was invented as the distraction to libertarian investors to stop investing in precious metals and get rich off of a MLM scheme of crypto, which have no real value, only the hope to make it big. When bitcoin is monetized and bitcoin goes to 100 million, then bitcoin investors made it big. Still bitcoin would have no value as copper, tin, silver, gold. Only the value that another person is wanting to pay 20K or 100M for that bitcoin. To de-throne gold as the replacement of the dollar worked:
BlackRock’s Rieder says bitcoin can replace gold ‘to a large extent’ and crypto is ‘here to stay’
https://www.cnbc.com/2020/11/20/bla...coin-can-replace-gold-to-a-large-extent-.html
So you can now see the real person behind the curtain that started bitcoin, why it was made, and the plans for this. I knew this over a dozen years ago, when it was first pushed on the libertarian forums to get libertarians to stop buying gold and silver. I refused to touch the stuff back then 13+ years ago and still do. I know what it is. The rest of the non-bitcoin Blockchain crypto is fine. Though you won't make as much as is planned with crypto.
There is a battle for what money is. Do you want a tracking system as money and possibly get rich building the money of 1984. Or do you want forever money of gold and silver to continue to be money and be poor because it is the mission of the deepstate to suppress the price of silver and gold and not allow them to take off. Or do you want central bank paper money.
There is the in between and invest in other crypto and have real rivals to bitcoin and have other crypto surpass bitcoin and try to make money off leading a revolution. Though you are at a severe disadvantage, the entire libertarian Qanon have no logic. They are force fed by Tucker Carlson, Tucker is an asset of the deepstate agenda.
https://odysee.com/@ChadChaddington:d/Tucker-Carlson-Company-Man-Error-Fix:2?src=embed&t=9.615805
The entire fake resistance led by cia-linked Fox News is leading the resistance to burn down the existing order of euros, European Union and stability... for Putin/Trump/Qanon to be the new "establishment". Bitcoin is part of that and the most important thing of that. More important than Putin, more important than Trump, more important than the cia Bush family.
So of course bitcoin was and could be easy money. A way to make billions because it is the agenda of the deepstate. Though is a attempted stab in the back to those who seek moral investing.
As Trump failed in 2020, will Bitcoin fail and a return to normalcy. That I cannot tell you.
I can tell you, that if enough know about the cia link to bitcoin, the deepstate have a pre-planned faux inventor of bitcoin that is to tell you that central intelligence was a joke. I have known that for years too.
end of post
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I have said this for years, the only way for China to defeat the US empire is with gold and silver as money. China focusing on burning down the globe for Trump to weaken Europe, puts China on Team Trump and Trump agenda.
Trump is more important to the US deepstate than cia Bush. Putin is more important to the US deepstate than buddy Trump. And bitcoin is more important to the cia deepstate than Putin. If you don't know Bush, Trump, Putin and Bitcoin are the deepstate agenda, you cannot defeat the Pompeo/cia agenda. If you join bitcoin, trump, putin or bush, you are on Team cia.
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