Liberals continue to eat their own.

This article is just another comical example of how the liberals are now in self destruct mode.  Trump is no longer there to project the left's corruption on and so it's going to become dog eat dog as one corrupt individual or organization after another is exposed.  Hollywood 5 years from now will be a shadow of its former self.

Crypto volatility is Cryptonite for cryptocurrencies.

As we all know, Bitcoin is jumping all over the place moving as much as 20% in a day.  There are smaller crypto coins including jokes like Dogecoin (which I have heard pronounced both as dog-e-coin and dough-g coin) that can move even faster.  Such "assets" are like playing a slot machine and anyone who has played the slots knows that they are for entertainment only because sooner or later they take all of your money.  They don't call slot machines "One armed bandits" for nothing.

The bigger problem here is now there are just too many people who are gambling in the markets in crap like this and at some point they will all get fleeced.  And when they do, they will cry for government to "do something".  Take the case of GME where after the system reacted to success of the little guy by moving the goal posts, not some much because they wanted to but because it was systemically critical for Robinhood to do so. If the suckers figure out how to play the slot machines so that the house loses, very quickly the house must outlaw or intervene on that behavior or the casino goes under.  So the casino can say that they are doing this for everyone's safety, blah blah blah.  But the reaction by the suckers was obvious - call in the government "to help" after they have already gotten fleeced.

And so it will be with bitcoin and the likes of Dogecoin.  They will collapse with 1 trillion of fake market cap and it will create this wealth effect vacuum which can suck down stocks.  Why?  Because those idiot companies who are now holdeling bitcoin on their books will lose billions in value given that they have traded relatively stable dollar cash for completely unstable crapcoins.  The losses will be sudden and in a good number of cases we could find that corporations can become insolvent overnight.

The fed should be sitting back and watching all of this with a smirk.  When Dogebit or whatever shitcoin, including bitcon, collapse, the fed can step in and repeat Yellen's argument that cryptos are a good idea but that only government has the discipline to ensure stable value via their open market operations.  She has already indicated that bitcoin is not green (uses a ton of electricity), is inefficient as a transaction tool and is wide open for use by criminals, etc.  But unless and until the stupid people come crying for government help, it would be very bad optics for government to shut down private cryptos.  However, they can be working behind the scenes to make sure they fail, using their secret open market operations to ADD to crapcoin volatility.

It will not surprise me to find, 20 years hence, that the fed manipulated crypto wildly up and down on purpose in order to whipsaw as many as possible with the knowledge that most will get screwed by it and thus beg government for "help".  Each time the government "helps", the people lose even if we the sheeple cannot see it.

By the way, I just checked Google and I could find no prior use of the made up word "cryptonite" used in the context which the title of this post used it.  So I am officially taking credit for having coined the term cryptonite as that event or condition which kills or weakens private cryptocurrencies to the point of death or uselessness.

By contrast there ARE references to cryptonite on the web, but they either have nothing to do with cryptocurrencies OR, like the Cryptonite organization, see privately run cryptocurrencies as the Kryptonite of government controlled money.  I assure you, when the dust clears, the private cryptos are not going to beat big government at its own game.  That's because government can just resort to executive orders which masquerade as laws, and laws are backed by men who are paid and who will happily follow orders to stop you at all costs, including that of your life, if you do not comply.

More shameful lies from the leftist media now being debunked

Trump was impeached, in part, because he supposedly incited a riot that got Officer Sicknic killed.  The narrative by leftist liars like the New York Times has been that he was hit in the head by a fire extinguisher.  They repeated this lie so many times that they came to believe their own horse shit.  But now we have Sicknic's mom on record saying, no, he was not struck by anything.  They think he died of a stroke.  But oohhhh how convenient was to make up this big lie about being killed by evil trump supporters.

The smarter centrist dems know this is the case and they are not happy about it.  They know that what goes around comes around.   The dumb dems, however, still believe every filthy lie that emanates from the liberal leftist media no matter how many times they get caught red handed by The Epoch Times and by Project Veritas and by Judicial Watch.

Someone is going to have to pay for all these lies.  It's not what I want, it is just the way of society.  When too many lies are believed by the gullible and they eventually realize that they were used like toilet paper, wipe-wipe-flush, played for all they were worth and then discarded, they are going to be pissed.  You know, just like I have said was going to be the case for many years now.  

The problem with lies is that you have to keep telling new ones in order to provide cover for the old ones.  Eventually they will not be able to keep up with them all and the fact that they are simply pathological liars will be apparent to all.  It's been apparent to me for quite some time now.  I was calling all of this "fake" long before trump ever emitted the phrase "fake news".

Yellen hinting to useful Bitcoin idiots that their days are numbered

The federal reserve has allowed Bitcoin to live as a parallel currency for some years now.  The beliefs by the Bitcoin community that their transactions are somehow private are childish at best, and dangerous at worse.  IF you use the Internet, you have no privacy. Period.  Thinking differently is like thinking you can post pictures of you breaking into the capital building on your private Facebook page and nobody will know except you and your friends.

At the end of the day, the government will step in and take over the cryptocurrency gig.  They have allowed bitcoin to break the waves and get everyone used to the notion, but the market cap of bitcoin recently touched 1 trillion, and that is getting to be real money even for a federal reserve that spews trillions each quarter from thin air.  The government is not going to allow that large of a thing to operate unfettered.

And so now we will see the federal reserve and the treasury gang up to get into the fake money crypto con game using CBDC (Central Bank Digital Currency).  I just received this little tidbit from a newsletter I receive:

Other movement: Elsewhere, Bitcoin (BTC-USD) retreated below $50,000 after Treasury Secretary Janet Yellen called the crypto an "extremely inefficient way of conducting transactions." She also warned about its use in illicit activity and sounded the alarm about its impact on the environment (given the levels of electricity needed to produce new coins). That would be in contrast to a sovereign digital currency, for which Yellen signaled the Biden administration's support, as well as research into the viability of a digital dollar.

So you can see the corrupt government narrative already spinning up: bitcoin is inefficient, most likely only used by bad people who are doing bad things, and only the government can be trusted to do the right thing in this regard.