Eco/monetary news n°28> Idiocracy: For the first time in history some sad fools buy farts and other silly garbage
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It was said by merchants for thousands of years every now and then that the best one, or the ultimate test of skill would be the ability to sell wind to suckers.
Looks like it is happening now, but not because of some super convincing sellers, people just keep getting dumber and this is the golden age of tech scams "you just don't get it man", and "if scam then why price went up?", also "they said the same thing about (some invention) amazing arguments.
Let me introduce: NFTs. It's some stupid pointless blockchain tech based scam, and people truly are buying farts, as well as tweets, "rare pepes" which are random paint drawings made by random people.
I sure hope this ridiculous worse than beanie babies scam does not get traction, or do I?
Sure would be fun to laugh at the suckers that blow their life savings to buy thin air.
> Over 60% of all financial fraud scams come from crypto in Austria, regulator report says
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"So what if crypto is used by criminals fiat is too", another genius argument, and as usual they forget Bitcoin and other magic beans are fiat, or do they actually think they have intrinsic value? Where does it come from? Magical fairy dust?
Crypto is used for what? 0.001% of legit transactions? And possibly a good 50% of all gambling.
So now a few months after the UK FCA banned cryptos, austria Financial Market Authority reported that 2/3 of financial fraud was crypto related, what? You're telling me crypto gamblers are more gullible (or plain dumber) than other people? No way! If you think this you just are a dinosaur that doesn't understand the tech.
The regulator also said that the cryptos - that seem to have been designed specifically for crime - are making it more laborious to trace scams because they easily move around the planet. Which is why they say they see a need for much stricter regulations.
> John "they'll never find me" McAfee arrested and charged with pumping crypto schemes
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Haha! Remember the videos of this idiot circulating sniffing coke and saying "if Bitcoin no 2 million math itself is flawed".
How could anyone listen to this creep? His brain cells got burned by all the drugs. His trustworthiness is equal to BTC fundamental value.
He was arrested in Spain and the US are trying to get him because he promoted some crypto schemes without mentioning he was getting paid to do so.
I don't get it, why do the US want to prosecute him? It makes no sense. When it's that obvious it still counts? Why?
What kind of idiot thought he was legit interested in all these coins? Who cares about them?
If we lower the bar for the dumbest of the dumb then life is not even possible, have to spell out the obvious all the time or get sued.
And it's hard, pretending to be dumb, can't always guess what dum dums need to be explained very slowly... "2+2 is 4 remember?"
When someone sells diving equipment he does not remind everyone to "make sure you breathe through the tube when underwater you can't breathe water".
A while ago some brainlets drank cleaning liquid and died, so a judge ordered the society that makes those bottle to indicate "it's not a drink" and put scary pictures on or something, to prevent natural selection from happening.
This constant lowering of the bar is unsustainable...
Usually crooks (P&D promoters, daytrading course sellers, etc) get away with a slap on the wrist, but this guy has many other crimes.
> Goldman Sachs employees describe their inhumane working conditions at the greedy bank
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I think we found why investment bank traders sucked so much, in a survey a couple of juniors described their low skill wageslave lives, they have weeks of 95 hours (13.5 hours a day), said they slept about 5 hours a night, that when they started they had a solid mental health at 9/10 and it dropped to a 2, etc.
"My body physically hurts all the time and mentally I'm in a really dark place".
14+5 = 19. What are they doing the other 5 hours?
The CEO said that the period was very active because clients were very active, he's trying to say it's not always like this...
"What is not ok to me is 110-120 hours over the course of a week! The math is simple, that leaves 4 hours a day for eating, sleeping, showering, bathroom and general transition time," one analyst said. 120/6. So they have 1 free day? What's the point?
Laws? Would be much better to sleep and spread it over 7 days. 14 hours over 7 days is 100/week. I estimated I did this for 18 months when I wanted to acquire stats & knowledge, easy.
It's like tryharding & binging on a video game, no one says gamers are overworked. Wagecucking is different, even 1 hour a week of it is too much and unbearable. Yuck.
Lmao these guys whine that they don't have time for friends and going out, that's what got to them? Not the lack of sleep?
"Going out" is for losers. Women do pointless social stuff. Us men hunt (about 99% of traders & GS juniors right?).
Got no time for this depressing standing around in limbo waiting for time to pass. Winners don't waste time with useless activities.
> Palladium explodes out of range after 1 year bear market, now worth 50% more than gold
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The bull market is back? This rocket ship gets no attention, but doesn't Elon use it?
Maybe he'll tweet about it and the zombie hordes will all become experts on the metal they never heard of days before.
Supply is recovering, demand too, carmakers and other industrials are just going to keep bidding up prices, the US fedgovernment will print more money "so we get all we need" and bid up and then print more and then bid up and then print more.
"Weimar can't happen" because I'm sure germans were so expecting it.
These guys are so delusional, they're the dumbest humans in history and they're persuaded something "can't happen", it can happen now more than ever! How can they keep failing and never learn. Hyperinflation will come, and they will see it as normal "in the moment" with their goldfish memory and even argue that it's a good thing and perfectly normal. Then in hindsight they'll be experts.
> Michael Burry warns the world of Weimar 2.0, the SEC pays him a visit for "spreading panic"
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Crazy hyperinflation in Germany took place over a period of 2 years (+3 years strong inflation) that's like an eternity for the public.
They won't even notice they will get used to it and see it as normal. They will wake up when they lose their job, the electricity goes out, and their stomachs are growling. Lmao the government and their minions will probably laugh at smart people pointing out the collapse and call them "conspiracy theorists". Never underestimate human stupidity, it's the only 1 thing that is infinite.
Michael Burry was blamed for "not warning of the housing bubble", actually he did, and the blamers, typical hindsight experts, expected to magically hear about it from before he got famous with their hindsight time machines I imagine.
So this time he made a public announcement on social networks. He left a trace. And then the SEC (LOL!) paid him a visit blaming him for "spreading panic", so he deleted the traces. LOL!
You can't change destiny. Ignorant people always say "if only we knew" and bla bla bla. Well you know now. And NOTHING will change.
As Peter Schiff asks, are they (the SEC, FED, and presidency + congress) aware of it all and trying to kick the can down the road, or actually dumb enough to believe their scam works and you know, really think this is all "fearmongering".
All I know is prices of the primary layer are way up and staying up, and prices of the second layer are starting to follow...
