Proof that Bitcoin is Part of The Deep State - They're Not Even Hiding It!

The Bitcoin-Fueled Neverending Mobeus Strip of Monetary Hell. Exhibit A: Howard Lutnick of Cantor Fitzgerald brags about how efficiently Bitcoin finances government debt so America can keep spending.

If I ever had any doubts or second thoughts about whether bitcoin is actually a Deep State scam, they have just been soundly put to rest. The thing (or non-thing) is rotten. It's going to bring down everyone who heavily invests in it. What makes me so sure now?

This is Howard Lutnick (timestamp 14:43) of Cantor Fitzgerald. He’s a bankster. He looks and sounds almost exactly like Harvey Weinstein. Like Weinstein, Lutnick is one of those loud, aggressive, very convincing, powerful Big Money Bankster Jews that libertarians and other groups tending towards constant paranoia (I get it, believe me) understandably dislike because he's so damn good at being a bankster. This guy is high octane fuel for anti Semites and those who blather about "the Khazarian Mafia" whatever the hell that means and they irresistibly lump me in with this crap. I get it all the time considering the line of work I'm in, which is Deep State busting, or so I like to imagine, though I'm a small fry, nothing more than a philosopher, I do aim at the center of it (THE MONEY DAMMIT) rather than a wing.

Anyway, Lutnick even plays the part of Rambo Jew to a tee while he's pulling this off masterfully. (His brother was killed on 9/11.) He plays it up amazingly well. It even strikes a chord with me for a second while I'm off guard. Anyway, this is a guy that anyone fighting the Deep State should at the very least be extremely suspicious of.  And under any normal circumstance this guy would be hated by any liberty-centric crowd.

BUT! Shuttle this oozing unctuous Harvey Weinstein doppelganger bankster over to a bitcoin conference to shill Tether while screaming about how much he hates Hamas and Jihad and they LOVE the #&*%ing guy. If anyone wants to accuse me of hating bitcoin religiously, this is why. These hypocritical conferences filled with people who claim to want to break free of government featuring some of the worst monetary prankster manipulators on the government payroll on the planet. There is no limit to the thickness of the hypocrisy here, and so few of the people attending these jerkfests even realize it. None of them want to, and that's the truth.   

Anyway, just listen to Lutnick at the 14:43 mark. He says it straight out, not even hiding it. Tether is backed by US Treasurys and bitcoin enables the US to spread out its inflation on other unsuspecting rubes. Lutnick says:

"I care about the 300 million wallets that hold tether because those 300M wallets are financing US Treasury's debt. Every time someone buys Tether, Tether buys a treasury bill and we're financing the US Treasury's debt. So emerging market distribution of USDT is fundamental for backing our debt in our country which helps us live in this beautiful way."

It cannot possibly get more revolting, more nauseating, than this pompous, sadistic, conniving and twisted statement. "This beautiful way?" Are you KIDDING ME? He calls ripping off the rest of the planet "beautiful" and a room full of supposedly sound money liberty enthusiasts applaud the menuval! Nothing is being hidden here! It's all right out in the open field!

Bitcoin is traded mostly with Tether, from which dollar redemption happens one way or another. USDT/BTC is the largest crypto trading pair. Bitcoin trading is fueled by Tether, which is backed by US Treasurys, just like the dollar itself.

Now, try to follow this monetary Mobeus strip that is bitcoin. Tether is backed by US Treasurys, which back the US dollar, which is what you redeem Tether for, which is used to buy bitcoin, which is backed by Tether, which is backed by US Treasurys, which back the US dollar and so on.

There is no solid base at the bottom of this tesseract merry-go-round from hell. It will all fall and melt into itself like the T-1000. Cantor Fitzgerald has a “shit ton” of it, I think Lutnick says in the video. And he’ll help you leverage it, too. Ain’t that swell?

This is why the US government does not care how high bitcoin goes. The higher it goes, the more it subsidizes US government debt. They care a lot about how high gold goes (and silver). Gold is outside of Treasurys. Bitcoin is just a Treasury debt receptacle to channel government skeptics into funding the damn thing, and it's not even hidden.

Now, what about the technicals?

Watch out for the triple top here. Triple tops are notoriously brutal. Even for gold they are brutal, like this one from 2012:

Will this be a triple top for bitcoin? I don't know. I sure hope so, because I'm sick of this psyop already. It's getting way too bold on the bankster side.

New Myrmikan Paper Out, My Comments

Daniel Oliver is out again with a new missive. It's a short one so easy to read the whole thing. Key paragraphs and my comments:

Gold bottomed on December 12, a month following the [2016] election, down 13% [from the election], closing at $1,130/oz. It would turn out to be an important market bottom. While Trump’s announced policies were credit friendly (and, therefore, gold unfriendly, for gold is the antithesis of credit), MAGA is not austerity, and debasement loomed.

Gold fell the last time Trump was elected in a "surprise". The decline lasted a month. History is moving faster now so the current decline should be even shorter.

Right-wing pundits compared Trump’s promises to Reagan, beefing up the military while cutting taxes and regulation. We commented then, however, that Reagan’s economic success had come at a particular point in history: the trough of a credit cycle. Interest rates were at cycle highs, exceeding 20%, and the sum of government and private debt came to only 150% of GDP. The Federal Reserve’s hoard of gold backed its liabilities by 92%. These were ideal conditions to commence a credit expansion, the longest and largest history has ever known.

Oliver is the only man who gets this well enough to actually write about it confidently and accurately. You can't just compare presidential spending policies in a vacuum. There is a context to each administration, and Trump has no room to expand this credit bubble. It's tapped. It's spent. That's it. The most important paragraph though is this one:

And what if Trump does somehow miraculously slash spending—we may applaud from a political and cultural perspective, but the immediate impact would be a painful recession as those who survive on government expenditures (and those who rely on those people) are thrown out of work, cut spending, and default on their debts.

In other words, if Trump balances the budget (which he won't), that means a banking crisis, because the only thing keeping the banks alive is more and more debt. End that, and you trigger the End Game anyway, to which, once again, you have only two choices. Allow the banks to die, or allow the banks AND the dollar to die.

It's coming no matter what. I only pray that Trump's team can dig up as many skeletons as possible before that final choice must be made, so the rotting corpse of Washington DC can be on full display for the entire world to see in all its sick glory and inspire global repentance, right before the whole diseased edifice burns down for good.

If we can have enough of a catharsis on that revelation, perhaps we can rebuild a much better world after this is all mercifully finished.