7 Comments
Nov 28, 2022Liked by Jeffrey Carter

These virtual exchanges remind me of the promises on EnronOnline. Enron created a virtual trading pit where they acted as a market maker. If you used Enrononline, you gave away your position to Enron. They justified their market making as "price discovery" although in reality it was nothing more than market manipulation.

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Taxpayers are naked.

"Let’s retell this story using entities of the U.S. government. The Treasury is like FTX, issuing tokens that it calls bonds. The Fed is like Alameda Research, taking these tokens on its balance sheet to try to support their price."

https://arnoldkling.substack.com/p/the-government-as-a-crypto-scammer

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Run for the hills! "The auditors made us do it" Binance next? https://twitter.com/gokhshteinmedia/status/1597230715867107330

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Whatever you may think of the person-persona known as kimdotcom, I think he's right about one thing and that it's in every investor's interest to have total control over your crypto assets. There are some fine USB wallets, and Brave Wallet, anything that keeps your crypto in your possession and not in the ledger of an exchange, even Coinbase.

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