The market has been crazy the past few days. If you are a follower of GME, it seems like the MOASS is nigh. Sadly, I've felt this way about 17 times in the past, and the hedgies have weaseled their way out every single time. It appears to me that the DTCC is doing some controlled demo of certain hedge funds, like Melvin Capital, and then throwing the funds from the liquidation back into the market to keep things afloat a little while longer. I'm afraid that they'll come up with some completely illegal but hidden solution to negate the MOASS. Hopefully I'm wrong.
Anyways, here's my thought: Does anyone have a line to James O'Keefe at Project Veritas? It'd be amazing to have him run an expose on the whole GME situation. If anyone can shine a bright light on the hedgies' shenanigans, it's PV.
Oh I've been stacking, too. But I want my GME to hit!
I'm interested to hear how silver is different?Isn't the silver market also controlled by criminals.
Asset backed crypto is the answer for that. There are multiple assets that can be backed by crypto with ease.
Property for example, could be traded easily as a crypto with the proper market and security measure infrastructure in place.
Precious Metals require some physical infrastructure, but I have a feeling Banks are going to be completely toast in the near future (hint, there's only one actual bank in the world), and all their buildings will remain. They would make a nice storage system for exchange between the crypto version and the physical version of PMs.
All stocks could be put on a crypto market with ease, making trading and direct barter of stocks trivial (with no brokers, short sales, or other avenues of fuckery).
Art could be tied to crypto. I'm sure there are countless assets that could be tied to crypto.
These asset backed cryptos make real barter almost trivial, which takes away all the power of those that would horde money to manipulate the market.
Faith backed crypto is, and will always be only as valuable as the faith that backs it. Faith always must fail eventually. Once the Federal Reserve Note Truth is lain bare, I don't think any faith backed currency will ever be used again, by anyone, ever, for all of time.