Oh no, this is not stonks

@Kalash93
[laughs in Federal Reserve]

Crypto has no inherrent value, that’s why investing in the whole cryptoeconomic complex is hilarious and stupid.

ONLY INVEST WHAT YOU’RE WILLING TO LOSE, LYRA!!

Help! My imaginary money is now worthless!

The crypto community has several times repeatedly replicated what is effectively central banking in order to more seemlessly convert crypto into actual real money. This has been carried out by the repeated re-invention of basic central banking through coming out again and again with “tether coins” such as Luna and Tether in order to turn BTC and ETH into real money. Luna and Tether pegged themselves to the US Dollar at a rate of 1:1 and maintain that rate by automatically buying and selling crypto assets at the rate needed to maintain as close a 1:1 ratio as possible. Basically: Croatian, Russian, and Chinese central banking.

Tether and Luna completely collapsed and their 1$ value is now at 0$ and knocked out the most direct link to real-world value crypto and NFT trading had. So now your uninsured high-risk speculative security is even more detached than it was before.

Tether’s in deeper trouble because they’re being forced to disclose their financial assets here soon. It’s been long believed they had at best 60 grand at any one time to turn a customer’s crypto assets to cash money. A lot of their tangible assets to do this probably being wrapped up in the debt market. If Tether collapses completely, it’d have a knock on effect in the physical finance field because they’ll probably have to sell off all their emergency assets at once and drive down the value of that.

@AaronMk
?? What do you mean. There’s some concerns about the effects of interest rates going up, there’s almost nothing happening that could be described as ‘collapsing’.

Lmao the fucking central banks are collapsing

@Zerowinger
Pff, as if. Things like that are always up and down, there’s nothing “safe” in the world.

@Zerowinger
Nah, there’s always some line or another going down.

Given what’s happening with Crypto right now, should this now be tagged “hilarious in hindsight” or “harsher in hindsight”?

The market right now. At least the memes were great.

@Antonyourknee
‘Cause the rich gotta get richer! Trickle-down, don’tcha know? That’s the ticket!

@Background Pony #346B
Geez Billy, how come your government lets you live through two massive generation financial crisises?

Current situation of international stock market
x_x

*derp de derp

*Herp da derp

*Be the derp

*Buy the derp

I’m saving this because I know one of these days some “reporter” will do something retarded and appropriate for me to respond to with this on Face Book.

@Eric Draven
@Antonyourknee
https://www.youtube.com/watch?v=utCaHjSlED0

Are you sure he wasn’t a member of the ‘Ndrangheta? Because if it was the case, you’re in serious trouble.

This is actually where the most money is made.

@Eric Draven