According to an article in American Banker titled “SEC’s Gensler Directly Links Crypto and Bank Failures,” SEC Chair Gary Gensler has asked for more financial resources to police the crypto market. Gensler testified at an April 18 House Financial Services Committee hearing:
Crypto is basically a Ponzi scheme based upon investments in nothing but a growing heap of currency. As long as people keep ‘buying’ crypto everything appears rosie, and ‘profits’ based on a false increasing value, tempt more investment in the schemes. I say, if you’re in, get out.
I'll also send your article to him because it's critical information. In the interview, I said that we were perhaps answering two different questions. Bitcoin may be the solution to how people preserve their savings through the dollar collapse--not one I'm jumping on, but for him. My caret system, based on your public banking model, is the solution I'm presenting for how we rebuild after the collapse. And that keeps on looking more and more inevitable.
Crypto is basically a Ponzi scheme based upon investments in nothing but a growing heap of currency. As long as people keep ‘buying’ crypto everything appears rosie, and ‘profits’ based on a false increasing value, tempt more investment in the schemes. I say, if you’re in, get out.
Robert Newsom
I , Think Crypto <> Is a SHAM ______&
The Buyers ARE Like Peter Pans ( It s' Their <> Money $$
Controlled by <> People like those <> IN <> (* FABLE ) ( Emperor s' NEW Clothes ) OR
Or The Bulb s' = In Holland Fable OR Pinocchio ? ? ?
Controlled by Who KNOW s' ? ?
But You " TRUST THEM Above " + TILL ? = They Disappear ! ! But " WHAT THE HECK
( THEY ARE NICE <> People ? Or Aliens ? or ? the DEVIL ! ? ? All Just MY OPINION _ IMHO
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Another brilliant article, Ellen. I was just interviewed by Mathew Crawford, who's big into Bitcoin. He had some interesting info on how community banks were brought down in 2008 by having gotten them to swallow the toxic bonds in 2006. It's at 1:16 here: https://rumble.com/v2lbxzy-rte-discussions-31-what-do-we-want-from-a-presidential-candidate-w-tereza-c.html.
I'll also send your article to him because it's critical information. In the interview, I said that we were perhaps answering two different questions. Bitcoin may be the solution to how people preserve their savings through the dollar collapse--not one I'm jumping on, but for him. My caret system, based on your public banking model, is the solution I'm presenting for how we rebuild after the collapse. And that keeps on looking more and more inevitable.