As Bloomberg reported earlier in the week, the hackers who stole the funds have become one of the world’s largest holders of the Ether token.

According to security specialists PeckShield, a wallet linked with the exploit swapped about another $49 million of stablecoins – mainly Dai – for Ether on Tuesday. That lifted the attacker’s Ether haul to 228,523 or about $288 million – the 35th largest stash of the coin, according to data from analytics platform Etherscan.

#PeckShieldAlert FTX Accounts Drainer has swapped 48.27M $DAI (~$48.36M) to 37.57k $ETH (~$47.69M) on Ethereum
Arbitrary loss: -$671,424.25
FTX Accounts Drainer currently holds 228,523.83 $ETH (~$288M) and makes the address become the 35th largest holder of ETH pic.twitter.com/8oukNomdDf— PeckShieldAlert (@PeckShieldAlert) November 15, 2022

The hacker reportedly transferred some funds using the crypto exchange operated by Kraken, which said it had been in touch with law enforcement about the matter.

But now, as Coinpedia.org reports, the FTX hacker has begun to liquidate those holdings creating significant downward pressure on Ethereum’s price.

More…

(Written in ARSH 2016. We were all so youn

ORIGINALLY WRITTEN IN ARSH 2016.

And he shall make all, both little and great, rich and poor, freemen and bondmen, to have a character in their right hand, or on their foreheads. And that no man might buy or sell, but he that hath the character, or the name of the beast, or the number of his name.
Revelation 13: 16-17

I think this may be the most important economics piece I ever write.  This came to me at Mass as I was thinking about Monetary Theory and how to explain to folks why it is that we have not had Weimar Republic/Zimbabwe-like hyperinflation given the massive, unprecedented money and debt creation by the Washington D.C. and European banker-oligarch regimes over the past decade. The realization made me gasp audibly.

First, the question.  Why HASN’T there been hyperinflation?  Why ISN’T a loaf of bread $100,000 by now?

The answer, which I did know, even from my ridiculously bad college days of Keynesian drivel, is because the VELOCITY of money is very, very low.

INFLATION is defined by the equation MV = PQ.  Now stay with me, because this is actually really easy to understand.

The M stands for Money – the Money Supply, which includes both money (both physical paper currency and zeroes and ones of computer servers) AS WELL AS CREDIT, because in today’s world credit is also just zeroes and ones on computer servers. If you have access to credit, say a credit card, you can go out and purchase goods and services, no? Well, that’s money too.  So “M” is all money plus credit.

The V stands for Velocity.  The Velocity of Money is the number of times a given dollar turns over in a given period of time.  When Velocity is high, consumers are putting their money out into the economy – spending it.  Dollars don’t sit stagnant in bank accounts or under the mattress when Velocity is high. (Dollars DO sit stagnant, however, when the Covigarchy puts everyone under house arrest, or has direct control of HOW MUCH anyone can spend their “Central Bank Digital Currency” based on their “social credit score”. -AlphaBravo, ’22)

The P stands for Price and is self-explanatory – the price of goods and services.

The Q stands for Quantity – how many goods and services are produced.

More…

https://rss.com/podcasts/cgp/703025/

Can I have a moment?

I just announced that I am not running for the Democratic Leadership in the next Congress, but I will continue to represent my beloved San Francisco in the House of Representatives.

I’m honored to help bring up the next generation of Democratic leaders that will move our country forward.

And I couldn’t be more excited to see what they achieve. We’re in good hands.

But make no mistake: this does not mean I’m abandoning the fight to elect Democrats and protect our Democracy.

So it is my honor to announce the Pelosi Legacy Fund to continue the work we started. Every dollar we raise will help fund our work to ELECT incredible Democrats, DEFEAT extremist Republicans who want to unroll our progress, and support our INCREDIBLE new Democratic Leadership that will fight for working families. I’m hoping for a historic show of support – 50,000 gifts before midnight – to show the country that Democrats are just getting started delivering for the American people. Can I count on you? >>

There’s no denying that Democrats just achieved historic wins this cycle that defied expectations and shut down the red wave everyone thought was coming. You made that happen, David.

I’m so proud of everything we’ve accomplished TOGETHER.

And if you’re proud too and want to protect our progress, I hope you’ll consider joining our Pelosi Legacy Fund.

It would mean so much to me personally.

From the bottom of my heart, thank you.

Nancy

There are some very important factors in play which are impacting our future very quickly. I will present two links for your review. The Revolver article is lengthy but I hope that people read both links. I want you to read the Gateway Pundit link first:

Then read the Revolver article:

FTX on Steroids: Is “Tether” the Biden World’s Crypto BCCI? – Revolver News

These articles are information. Take the information and turn it into intelligence. Consider the following points on how this will impact:

1. The economy and stock market.
2. All crypto currencies
3. The conversion of the petrodollar to digital currency without having any faith or credit by other countries.
4. The impact on the Deep State as this massive money laundering operation and its funding of voter fraud is released.
5. The war in Ukraine.

This story will not go away or be buried. I want you to write a cogent analysis in the comments section based on your intelligence assessment. Intelligence drives the battlefield and this is an good exercise to start organizing what we need to be doing.

David DeGerolamo

https://practicalsurvivalstore.com/

Our online store that is not connected to Amazon.

We are carrying additional medical items at this store that we do not carry on Amazon.

Imagine if we just converged on the prison where the January 6th political prisoners were being held without any due process. 100 people per state would be 5000 protesters. For North Carolina, that would be 1 person per county. I do not understand why patriots have not already stormed the Bastille.

David DeGerolamo

Another reminder concerning comments from our about page:

We have a policy of being “morally correct” when a controversial issue is presented. Comments are always welcome but we reserve the right to use our discretion on the validity of the comment’s intent. Comments which are intended to incite or provoke readers will not be posted.

As readers probably have noticed, I have taken a more serious attitude concerning comments that are divisive or attacking other people. I think people take for granted the lack of any advertisements or requests for donations to help offset the cost and time maintaining this site. Be assured that I am not asking for any monetary support. However, I do not expect people to attack me or other authors because they do not agree with articles or comments. Be respectful of all or you will be blacklisted. Also keep in mind that posting an article does not necessarily mean the author agrees with the intent if it was reposted from another site. It may be that the information is posted for commentary.

We are at war with an evil empire. I suggest we act like it and fight the real enemy.

David DeGerolamo

Great lecture. You’ll like it. I promise.

h/t WRSA and Matt Bracken

Elon Musk’s poll is generating over 1 million votes per hour. Currently, the YES is at 52.3% to reinstate Trump.

It is interesting that Twitter is portrayed as a far left social media platform. Although Musk is vilified by the left, I would not have thought the poll would be favorable to Trump. Was Twitter a platform of bots that have now been removed by new management?

Here is a question to ask any liberal friends (if you have any): if you are so intent on saving Democracy, then according to the poll, Trump should be President. Do not let them sway you that this poll means nothing: the population sample is too large to ignore.

For those who are still intent on dividing and misdirecting our side, I will delete those comments. Focus on the mission and success; do not whinge in front of the TV or monitor. Our former country was great due to our unity. The opposite of unity is diversity: anyone espousing Democracy and diversity is the enemy. The Diversified States of America must fall.

David DeGerolamo