Uh oh, FTX bankrupt, Genisis Bankrupt, Binance Swift deplatformed. Now the Home Loan Banking system is loaning $16 Billions to keep crypto system from sinking. What happens when crypto ponzi crashes and they take the cash and run? Will the housing market down with it?

posted 1 year ago by jhartz39 1 year ago by jhartz39 +30 / -0

https://www.binance.com/es/feed/post/174674

https://www.binance.com/en/support/faq/swift-bank-transfer-channel-suspended-for-selected-countries-updated-as-of-2023-01-04-b230db1283e54c529b206d0a48e6e358

These crypto systems are not backed buy anything. It is plain crazy to loan these crypto companies money from the housing market. It seems our leaders know how to take a bad situation and make it 10 times worse.

And to make matters worse, Russia Oil Decree is set to go into effect on Feb 1st. .

https://www.reuters.com/business/energy/putin-bans-russian-oil-exports-countries-that-imposed-price-cap-decree-2022-12-27/

I heard Russia is expected to cut oil production by couple billion barrels, Saudi / OPEC refusing to increase production. Soon China and Russian will fail to accept the petrodollar. The petrodollar system plays a large part in maintaining the US dollar as a viable currency. The $31 trillion in debt is 130% of our GDP. Most countries fail economically when the debt to GDP ratio gets above 100%, we are long overdue.

I'm fairly certain the Evergrande Chinese collapse still looms in the background. It seems that all the pieces for an entire financial collapse falling in to place. This is the event that could usher in some hyperinflation, we can see oil prices skyrocket, food costs could get crazy expensive.

This scenario has been predicted and will be used to destroy the international banking system. The destruction of the Federal Reserve was part of Trump's plan to free us from these thieves. We see a bill in place to eliminate federal income tax that will play a part to ease the pain on the American people.

Buckle up patriots, its going to get dicey soon.

I'm gonna make some popcorn, smile and watch the fireworks, let it burn!

WWG1WGA!!!

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– ThreeOneFIve 0 points 1 year ago +1 / -1

Gonna have to step in here.

Gold is not 'backed' by anything either. Its just a piece of metal.

Humans determine what we value.

Crypto was built specifically as an attempt to get away from fiat money. Problem is we are so used to and conditioned to measure everything in dollars that thats how we perceive money, even alternate currencies.

crypto is 'backed' by unbreakable smart contract code and the laws of economics.

For those who understand crypto and which coins to buy, and which to avoid, it is, in fact, lifting people out of poverty.

There are crypto projects started for this purpose specifically.

I hope binance survives.

But astronomical loans; I'm definitely against that.

If some people make bad financial decisions, it doesn't mean to crash an entire trillion dollar market.

One bad apple tree doesnt warrant burning the forest down.

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