We all have such moment, we are given some parts when things go wrong, this happens, but to the degree we see at present, does it make sense? I think that it is clear that there is almost no one left on the planet who has not heard the name ‘Sam Bankman-Fried’, the media has been bringing it like Jesus of Nazareth was the second coming of this individual. It was only three weeks ago when we were given ‘FTX TO LAUNCH ITS OWN STABLECOIN SOON, SAYS SAM BANKMAN-FRIED’, there we see “The fresh capital injection, which is still subject to negotiations, would keep the crypto conglomerate at the same valuation it had landed after a $400 million funding round back in January. At the time, the cryptocurrency exchange founded by Sam Bankman-Fried was valued at $32 billion. According to leaked financial documents, global trading revenue generated by FTX hit $1.02 billion in 2021, having increased more than 10 times from the $89 million recorded in 2020. Additionally, FTX’s operating income swallowed $272 million throughout last year’s bull run from $14 million a year earlier. FTX saw net income of $388 million last year, up from just $17 million in 2020” and there has been too few questions, no one was looking into matters. Just like the issues surrounding Jack Dorsey. The media had forsaken its duties. It’s like all the paparazzi’ were heralding a 42nd crack maiden as she was giving out free blowjobs to anyone coming along. They had no problems slapping Elon Musk, because he was too arrogant, he was evil. The media had forsaken its duties to the largest degree. To properly inform us and it was at that point when someone informed me of a Dilbert comic. I know off Dilbert, but I do not religiously follow him. I have a book with Dilberts, but that book is at least 20 years old. So I had to look him up and I placed him below.
So here we see what I have been telling you for years, but the person was onto something. If we are to accept the wisdom of Scott Adams, the ‘We’ in the second image represents governments, corporations as well as media interests? It is the last one that was a little forgotten. Not by me, but I was equally not s inclusive as I had needed to be.
This part becomes clear when we see the Australian Financial Review (at https://www.afr.com/technology/ftx-came-dangerously-close-to-upending-futures-markets-20221117-p5bz5m), there we see ‘FTX came dangerously close to upending futures markets’ with the added “FTX’s ambitions were grandiose: It wanted to carry out every aspect of customers’ crypto derivatives needs on its own, using algorithms rather than brokers to help clear trades”, you think this is it, but it isn’t even close. Yet it lifted the veil and gives us the question “Why was the media asleep?” Things of these nature get noticed and the media was not asking questions. It goes from bad to worse when we see the Guardian giving us ‘Why were so many smart people so dumb about FTX? Did they seriously just like Sam Bankman-Fried’s ‘vibe’?’ (at https://www.theguardian.com/technology/commentisfree/2022/nov/15/why-were-so-many-smart-people-so-dumb-about-ftx-did-they-seriously-just-like-sam-bankman-frieds-vibe-), it is actually a much better question than you think it is. The ‘vibe’ part is indicative and subjective, but the setting of smart people being dumb is central. The media is allegedly supposed to be smart and they never saw it, they never investigated. Was it them or their shareholders, their stake holders and their advertisers that could not stand the sight of critical questions? The fact that I found 6 billion that Google and Amazon overlooked implies they are merely reckless, shortsighted and only optionally stupid. But tell me what company goes around ignoring 6 billion in revenue whilst they are getting ready for recession dropping employees left, right and centre? Then we see the subjective part “The collapse of the cryptocurrency exchange will cost investors billions. But why would anyone give money to a man who plays video games in important meetings?” There is a dangerous stage here. They are not wrong, but it also implies that the important meetings are egocentric. I found 6 billion through video games, in addition, I knew WHERE to look. It implies that these so called important meetings are important to some and not others. Are they therefor important? And we get more information when we see “It seems, however, that FTX was doing some very dubious things: namely, furtively shifting customer funds to Alameda Research, a firm also operated by Bankman-Fried, which then gambled them away on risky trades. Instead of becoming the world’s first trillionaire, SBF saw his net worth plummet from $16.2bn to about $3 overnight. Former US Treasury secretary Larry Summers has likened FTX’s collapse to the Enron scandal, saying that from the reports, there were “whiffs of fraud” about it.” And the information we get is not about SBF or FTX, it is that the media fucked up, it massively fucked up. Who in the media started to look into Alameda Research? How much of the $6.2 billion was lost by the time someone woke up? All questions that the media will not look into or shed light on. Too many got burned by Leveson and when we illuminate that the media has more priority towards digital dollars than to inform the people on events, it is at that point that the people will demand investigation of the media and that scares them. Like fucked up Chihuahua’s they will cry the freedom of the press and the fact that they can police themselves, yet there are enough indications that there is no freedom of the press, there has not been for quite some time and the final push is seen through the BBC (at https://www.bbc.co.uk/news/technology-63662396) where we see ‘New FTX boss condemns crypto exchange’s failure’, a stage that happened 13 hours ago where we are given “The firm filed for bankruptcy in the US last week and, in court filings, Mr Ray said he had never “seen such a complete failure of corporate controls”. Mr Ray, who replaced Sam Bankman-Fried, also criticised a “complete absence of trustworthy financial information”.” In a stage that is a mere three weeks old we see someone from second coming to financial terrorist getting nailed to a cross. And when we realise that this is a stage that was 3 years in the making and the media ignored too many signals and it is time to demand answers. So called idiots making environment claims a mere two days go with “30 newspapers and media organisations in more than 20 countries have taken a common view”, how about you do your fucking jobs and report the news, the actual news, not filtered information!
That setting has been clearly out in the open, but the media does not investigate itself and we are now at a point where the people ned to hold the media to account. When we are given by the BBC “Mr Ray also criticised what he said were “erratic and misleading” public statements by his predecessor. Mr Ray said that FTX had concentrated control in the hands of a “very small group of inexperienced, unsophisticated and potentially compromised individuals”, and that it did not maintain centralised control of its cash. Instead, he said, there was an “absence of an accurate list of bank accounts and account signatories”. So far he said it had been possible to locate “only a fraction of the digital assets” held by the firm.” All this whilst the media was praising some crypto brat like he was evangelising the new economy, and there were no checks, no balances and the media was nowhere to be found. A place like FTX made over a million victims, lost over $16,000,000,000 and the media was nowhere to be found, oh yes, when the carcass was out in the open for everyone to take a bite from, but such numbers aren’t created in a day, there was a long stage of planning and the media was nowhere to be found. Why not?
In light of all the stupidity I see there is now a decent stage where people should consider handing their IP over to China and hope for the best, because our system made a righteous mess of it all and that kind of damage does not happen overnight, it requires the media to forsake its duty to a massive amount. And this is not one media, it is the bulk of them. And my view? When the BBC reports “Meanwhile, Mr Bankman-Fried has told the Vox news website that he regretted filing for bankruptcy.” Vox? And the NY Times, LA Times, Washington Post, Boston Globe, Times, the Guardian and others aren’t wondering why the Vox got that little part and none of the others are all over the Crypto Brat? Makes you wonder what else they aren’t looking at, not?