The Two-Ponzi System
Nov. 11, 2022 (EIRNS)—After George Soros, the second-largest 2021-22 election cycle contributor to the Democratic Party is headed into bankruptcy of his cryptocurrency exchange, and exposure as the operator of a Ponzi scheme fraudulently claiming assets of nearly $30 billion. FTX owner Sam Bankman-Fried, who contributed $39 million to Democratic candidates in the last Congressional cycle and claimed he might spend $1 billion in the 2024 cycle, issued a pseudo-abject release on Nov. 10 and slyly blamed his competitor, the Binance crypto-exchange, for pushing him under.
But FTX was a highly leveraged fraud victimizing its investors. And isn’t it interesting that during the Biden administration, officials like Securities and Exchange Commission Chair Gary Gensler, Treasury Secretary Janet Yellen, and leaders of Congress who once loudly threatened Facebook against attempting to introduce the crypto-global Libra currency, spoke of welcoming Bitcoin etc. into the “regulated” fold of financial instruments. And Federal Reserve Chair Jerome Powell, in a Sept. 27 panel event hosted by the Banque de France event at the Economic Club of Washington, said there was no systemic threat involved with cryptocurrency and made this astonishing statement: “If you’re going to have private money creation across the country, really there needs to be a federal role [and] we think it really should be the Fed that does play that role.” In March,…
