Shortly after the 2009 right-wing coup, the pirates in charge of the new Honduran government immediately set about selling off parts of the country in order to enrich themselves. One of their ideas was (ZEDE) Zone for Employment and Economic Development.
If it isn't obvious to people that cryptocurrencies are the domain of scammers, allow me to give you one more example.
How will the cryptocurrency industry fail? Very slowly, the all at once.
Bitcoin prices are far off of their peak, but they've been relatively stable these past few months.
However, that isn't a true picture of the environment.
The financial media has been all over the implosion of the FTX cryptocurrency exchange.
By now you've probably heard about all of the problems at Twitter, and how Elon Musk is facing a financial catastrophe. However, that's just the part of the iceberg that the ultra-wealthy Titanic hit that is visible. Most of the damage is below the surface.
Be prepared to shed a few tears for ultra-wealthy a**holes having to sell their second super-yacht.
Rarely has an "industry" witnessed such a sudden and overwhelming increase in political campaign donations.
At the end of March the crypto sector had given $26 million in campaign donations. That was a 5,200% surge over last year.
The global cryptocurrency market reached a value of US$ 1,782 billion in 2021.
Now 40% of all investments in cryptocurrencies are underwater. That's a lot of paper wealth that was incinerated.
During a congressional hearing a few days ago, Treasury Secretary Janet Yellen was asked an interesting question by Senator Catherine Cortez Masto.
When I saw this headline I couldn't help but think that this is exactly how a speculative bubble behaves.
Bitcoin has a lot of believers and has had massive returns, but Bitcoin has got nothing on Dogecoin.
