Last Friday it was announced that a 12-week pilot program will be implemented to test various banks’ utilization of digital dollar tokens. Their focus will be to quantify the impact of these tokens; specifically, how their presence “in a common database can help speed up payments.” The timing is interesting when you consider the FTX scandal has brought consumer confidence in the blockchain to an all-time low. In the aftermath of the collapse of the cryptocurrency exchange, new questions are being raised surrounding powerful corporate and political connections from crypto partnerships. Tonight on Ground Zero, Clyde Lewis talks with filmmaker, Darcy Weir about BLACKMAIL FRIDAY.
So, it is about that time. After Thanksgiving comes Black Friday a day when we are grateful for the cashless exchanges with credit and debit cards. We thrive on internet purchases that take money directly from your account or PayPal. The way you buy all those gifts will certainly be of interest to the central banks as they prepare for the new digital tokens.
Increasingly, cash is being replaced by a wide variety of digital payment platforms.
People this Christmas will use everything from debit and credit cards to smartphones and cryptocurrencies.
As these payment platforms continue to acquire more market share it’s not far-fetched to imagine a world with no cash whatsoever. Because digitized platforms are secure, traceable, and more efficient, some countries have decided to make a cashless shift the centerpiece of their economic policy, including Sweden and Israel.
On the other end of the development spectrum, in countries such as Somalia, India, and Uruguay, the traditional consumer-based brick-and-mortar banking system is being supplanted by digital platforms to afford citizens greater access to local and global trade markets ill-served by cash.
A significant source of cash in poor, high-crime neighborhoods traditionally took the form of welfare cheques. The poor, lacking access to bank accounts, had to cash these cheques and carry physical money with them or keep it in their homes.
This made them vulnerable to predatory crimes, such as theft and robbery. In a recent study, it was found that when the U.S. government decided to replace welfare checks with debit cards, this led to a 10 percent reduction in street crimes like burglary, theft, and assault. So, it can be said that the introduction of debit card systems to disburse benefits decreased the amount of cash available for a crime.
But as the gap widens between the digital haves and have-nots, we’re creating a modern form of feudalism, where the poor are locked into place not just by a lack of money, but by a lack of access to a new world of technology and financial criminal opportunities.
A new breed of cybercriminals is taking their place, and they’re much better off, both financially and technologically. Essentially, crime is a resource, and the rich are in the process of stealing it from the poor.
It is becoming easier to launder money — and in the course of a fully cashless society — you could be blackmailed and also limited in what you can spend your money on.
Last Friday It was announced that a pilot program to test various banks’ utilization of digital dollar tokens is proceeding. The banks involved in the program include Citigroup, Mastercard, Wells Fargo, and others.
A statement, first reported by Reuters, noted the banks involved and what the project will entail. The New York Fed noted, “The project, which is called the regulated liability network, will be conducted in a test environment and use simulated data.”
Specifically, the endeavor these banks and the New York Fed will attempt to quantify the impact of digital dollar tokens. Specifically, how their presence “in a common database can help speed up payments.”
Some of the world’s banking giants are participating in a brand new endeavor alongside the New York Federal Reserve. Global banks are partnering with the New York Fed for a 12-week digital dollar pilot.
The program, spearheaded by the New York Fed’s Innovation Center, will test how banks use digital dollar tokens.
We have already reported that banks worldwide are taking part in this experiment. The timing is interesting when you consider that the FTX scandal has brought consumer confidence in the blockchain to an all-time low.
A Whopping 192,340 Bitcoin Have Moved off of Exchanges in the last 7 days. The fleet of outflows was triggered by the fall of the FTX exchange. Sam Bankman-Fried’s exchange collapsed after it was struck with liquidity crunches. Misappropriation of user funds by the exchange was one of the primary reasons for the fallout.
Cryptocurrency investors have now begun to question the safety of user funds on centralized exchanges. The trust vested in the centralized exchanges has stooped low, which is evident from the massive outflow of cryptocurrencies from the exchanges.
However, it has to be noted that many crypto investors have moved from the exchanges to decentralized storage like cold wallets.
But there is a whole mess of layers with the FTX debacle that have to be revealed in order to expose just how this whole thing has rotted like a fish from the top down and how billions of dollars were spent for the war effort, the midterm elections and COVID-19 propaganda.
it was reported in the Washington Post that numerous leaders in pandemic preparedness had received funds from FTX funders or were seeking donations.
n other words, the “public health world” wanted more chances to say: “Give me money so I can keep advocating to lock more people down!” Alas, the collapse of the exchange, which reportedly holds a mere 0.001% of the assets it once claimed to have, makes that impossible.
Among the organizations most affected is Guarding Against Pandemics, the advocacy group headed by Guarding Against Pandemics that took out millions in ads to back the Biden administration’s push for $30 billion in funding. As Influence Watch notes: “Guarding Against Pandemics is a left-leaning advocacy group created in 2020 to support legislation that increases government investment in pandemic prevention plans.”
FTX-backed projects ranged from $12 million to champion a California ballot initiative to strengthen public health programs and detect emerging virus threats — the initiative has been bumped to 2024.
FTX also backed a project where they were involved in investing more than $11 million on the unsuccessful congressional primary campaign of an Oregon biosecurity expert, and even a $150,000 grant to help Moncef Slaoui, scientific adviser for the Trump administration’s “Operation Warp Speed” vaccine accelerator, write his memoir.
Leaders of the FTX Future Fund, a spinoff foundation that committed more than $25 million to prevent bio-risks, resigned in an open letter last Thursday, acknowledging that some donations from the organization are on hold.
The FTX Future Fund’s commitments included $10 million to HelixNano, a biotech start-up seeking to develop a next-generation coronavirus vaccine; $250,000 to a University of Ottawa scientist researching how to eradicate viruses from plastic surfaces; and $175,000 to support a recent law school graduate’s job at the Johns Hopkins Center for Health Security. “Overall, the Future Fund was a force for good,” said Tom Inglesby, who leads the Johns Hopkins center, lamenting the fund’s collapse. The money claimed was invested to prevent future biological threats.
Guarding Against Pandemics spent more than $1 million on lobbying Capitol Hill and the White House over the past year, hired at least 26 lobbyists to advocate for a still-pending bipartisan pandemic plan in Congress and other issues, and ran advertisements backing legislation that included pandemic-preparedness funding. Protect Our Future, a political action committee backed by the Bankman-Fried brothers, spent about $28 million this congressional cycle on Democratic candidates “who will be champions for pandemic prevention,” according to the group’s webpage.
So FTX is partly responsible for pushing upon the people — advocates for lockdowns and tyranny that were gaslighting the American people into becoming fearful children.
All of the fear porn associated with COVID-19 was a product of the rich and powerful whose investments in crypto clearinghouses like FTX — gutted our economy. kept our children from attending school, and contributed to declining lifespans because of pushing vaccine propaganda. Millions of people are facing poverty because of supply chain shortages brought on by intentional sabotage. Incomes diminishing, bankruptcies, and the fall of humanity and morale.
It most certainly was an act of emotional blackmail. Threats to keep the money flow and the money laundering operation thriving.
They also have singlehandedly destroyed the confidence of crypto investors for the sole purpose of pushing the new CBDC’s the government wishes to push on the American people t usher in a cashless society.
Just like every other scandal or major event where Americans are traumatized or betrayed it has been revealed that the Authorities knew that something was amiss at FTX before the scandal and eventual bankruptcy.
According to Bloomberg sources “familiar with the investigation”, the US Attorney’s Office for the Southern District of New York, led by Damian Williams, spent several months working on a sweeping examination of cryptocurrency platforms with US and offshore arms and had started poking into FTX’s massive exchange operations.
The focus of the probe was on compliance with the Bank Secrecy Act which requires financial institutions take steps to prevent money laundering and terrorism financing, and which has been used by authorities to go after crypto platforms that allegedly falsely claimed that they don’t serve US customers.
Now just because the NYSD AG was probing FTX doesn’t mean they actually found anything – after all, as we all know, the “effective altruist” and generous Democratic donor was protected by powerful political interests.
When the Deep State knows who is paying for their bosses and their war — it is best to look the other way. No one wishes to bite that hand that feeds them.
If only the Attorney’s Office – headed since October 2021 by Democrat Damian Williams – had done its job better and faster, much of the ensuing fallout may have been contained.
Long known for its prowess in tackling complex financial crimes, the US attorney’s office in Manhattan has handled the lion’s share of the government’s crypto cases since digital assets came into vogue a decade ago. That includes a half-dozen in the year through October, roughly double the number brought by other Justice Department offices in that period, an analysis of federal dockets shows.
The office benefits from longstanding working relationships between its prosecutors and FBI and SEC investigators, as well as its location in the nation’s largest financial hub. Funds passing through Wall Street, or an email exchange with one of the city’s many firms, can help give prosecutors there an edge in claiming jurisdiction.
Prosecutors and regulators including the Securities and Exchange Commission and Commodity Futures Trading Commission are now seeking help from new FTX Chief Executive Officer John J. Ray III, who took over as part of its bankruptcy proceeding and is navigating what he described as “a complete absence of trustworthy financial information.
While Southern District prosecutors did exactly nothing to contain the FTX fraud enabled by both the fawning media and bribed politicians, that’s not to say they have never acted: according to Bloomberg, they previously invoked the Bank Secrecy Act in 2020 against senior employees at the Seychelles-based crypto platform BitMEX, which allegedly allowed more than $209 million of transactions with known dark-net markets. BitMEX argued it didn’t need anti-money laundering or know-your-customer policies in part because it didn’t have US customers and wasn’t registered in the US. But clients circumvented the platform’s attempts to block IP addresses in the US, according to a government sentencing memo filed in federal court.
As attention now turns to FTX, the loss of customer funds at the exchange means authorities will examine whether the exchange misled clients about how their assets would be held, former prosecutors said. To prove wire fraud, investigators would have to show someone at FTX did so for gain using a wire, such as a phone call, email or text. Which they did, of course. Repeatedly.
In the aftermath of the collapse of the cryptocurrency exchange, new questions are being raised surrounding powerful connections, from crypto partnerships to the billionaire’s contributions to Democrats and officials in Ukraine.
In March, the Ukrainian government established a crypto donations website, allowing Kyiv to convert digital token contributions into fiat money that would be deposited at the National Bank of Ukraine. The Ukraine government maintained a goal of $200 million. By October, it had raised more than $60 million.
The contributed funds have been used to purchase everything needed for the war effort, such as digital rifle scopes, medical supplies, field rations, fuel, military clothing, and other critical items.
The initiative, known as “Aid for Ukraine,” garnered the support of FTX, staking outfit Everstake, and Ukraine’s Kuna exchange. It has been powered by the Ministry of Digital Transformation.
At the onset of the conflict in Ukraine, FTX felt the need to provide assistance in any way it could. By setting up payment rails and facilitating the conversion of crypto donations into fiat currency.
Days after the launch of the Ukraine–FTX collaboration, U.S. President Joe Biden announced an extra $800 million in security assistance to Ukraine, bringing the total contribution to $2 billion since the start of the administration. In total, it’s estimated that the United States has given more than $60 billion to Kyiv.
While it’s unclear if reports that Ukrainian officials have invested in FTX are accurate, many are seeking an explanation as to whether Ukrainian officials have used funds delivered to Kyiv through FTX to funnel money to Democratic campaigns which also includes money needed to win the midterms.
Bankman-Fried was the second-largest Democratic donor for the 2021–22 cycle, donating $39.8 million. This was behind George Soros’s total donations of $128 million. Bankman-Fried gave the most amount of money to the Protect Our Future PAC, a group that “endorsed Democratic candidates such as Peter Welch, who won his bid to become Vermont’s next senator, and Robert J. Menendez of New
Jersey, who secured a House seat,” according to Fortune. But this past summer, Bankman-Fried suggested that he could’ve spent $1 billion on the midterm elections to support the Democrats, although he stepped away from this proposition.
In the first half of 2022, he contributed $865,000 to the Democratic National Committee, $66,500 to the Democratic Senate Campaign Committee, and $250,000 to the Democratic Congressional Campaign Committee.
In addition, Bankman-Fried made multiple visits to the White House. According to White House visitor logs, he met with White House counselor Steve Ricchetti on April 22 and May 12. The FTX founder also met with Charlotte Butash, a policy adviser to the White House deputy chief of staff, on May 13.
Mark Wetjen, the head of policy and regulatory strategy at FTX, who served as a commissioner on the Commodity Futures Trading Commission (CFTC) under former President Barack Obama, also attended some of the meetings.
Visitor logs also show that Bankman-Fried’s younger brother, Gabe, made visits to the White House on March 7 and May 13. His first appointment was with Nathaly Maurice, special assistant to the president and director of partnerships at the White House. His second visit was with Butash.
Gabe had previously worked as a Capitol Hill staffer and is the founder and director of Guarding Against Pandemics.
Now we see it all has gone full circle. we see how incestuous the pandemic, the war, and the elections were as they had a constant money machine in FTX.
So everything that has transpired between Bankman-Fried, FTX, Ukraine, and the Democrats has raised some eyebrows. Billionaire CEO Elon Musk is also intrigued by the latest developments. “Was FTX being used to launder money for the Democratic Party?” a Twitter user asked.
Musk replied, “A question worth asking.”
Alex Bornyakov, the deputy minister of Digital Transformation of Ukraine, took to Twitter on Nov. 14 to dismiss this “narrative.”
Apologists and fact checkers immediately took to the internet to state that any connections between Ukraine, FTX and the democratic party are unfounded.
But this needs to be investigated n the name of humanity.
If they asked for billions of dollars of aid to Ukraine, then Zelensky sends back the money to the Democrats.
This is classic money laundering and corruptive payback.
SHOW GUEST: DARCY WEIR
Darcy Weir is a documentary filmmaker who has chosen to work on some of the more fascinating subjects that are discussed today. He has completed over 10 feature-length documentaries which are all available through TubiTV and Amazon Prime. He recently completed a new documentary based on the history of Bitcoin to date as well as the nebulous cryptocurrency market. From Main Street to Wall Street we speak to industry professionals who are working in different areas of crypto business. Using comedy, each chapter is designed to give educational information in an engaging and easy-to-understand way. Topics include blockchain, Bitcoin, a history of currency, smart contracts, NFTs, DEFI, CryptoGaming, Metaverse, and the future. We aim to demystify the crypto world for the masses. The film is: ‘The Bitcoin Field Guide: Understanding Crypto Currency.’
Here are the links to the platforms where you can find the film: