Midterm Democrats Funded With Counterfeit Money
With facial recognition technology capable of finding a wanted man walking past a surveillance camera anywhere in the world, and artificial intelligence capable of generating deep video imitations so realistic that Congress began to panic about From its potential for abuse more than three years ago, a foolproof counterfeit currency is no heavyweight.
But cash has become almost a relic of the 20th century. The counterfeit dollars the Democrats just used to contain the widely predicted Republican “red wave” were wealth that existed in cyberspace, the result of an investor muddle perpetrated by a now-washed tycoon in his 20s whose safe treasure ended up consisting of gambling money. If you thought Republicans were the party of big business and the heartless rich, you might be wondering how Democrats managed to outspend Republicans in key races this year, like John Fetterman who raked in nearly $48 million during his U.S. Senate campaign from Pennsylvania, while the GOP opponent he defeated, Mehmet Oz, only raised about $12 million (increased by loaning himself $21 million). Or incumbent New Hampshire Senator Maggie Hassan re-elected after raising $38 million, while her GOP opponent, retired Trump-backed general Don Bolduc, raised just $2.2. million. A big part of the answer is that the Democrats are now the party of the snake oil tycoon.
Despite his uninviting image, often seen in a t-shirt and shorts, Sam Bankman-Fried is an MIT physics graduate who was a billionaire before the age of 30. Defying the usual American corporate standards of family stability and respect for the law, Bankman-Fried established its headquarters in the tax haven of the Bahamas and, if reports are to be believed, enlisted a council of senior executives / roommates which doubled as its own polyamorous commune.
Before his financial orgy ended this month and more than $2 billion in FTX client investments dissolved, Bankman-Friend gave Joe Biden $10 million in the 2020 presidential election and gave Democrats more than $40 million halfway through this year, likely buying the party a US Senate majority in the next Congress. Now ruined, he was the second-biggest donor to the party’s campaigns, behind only Hungarian-born left-wing billionaire money manipulator George Soros.
In dissecting the collapse of FTX, it is crucial to appreciate what too few people, woefully ignorant of economic truths thanks to a union-dominated public school system, know about corporate valuation – than observers accept as being the value of a business always depends on human judgment which assumes trustworthy conduct. Was Blockbuster Video worth $8.4 billion when Sumner Redstone bought it at that price in 1994? Had he known that some 16 years later, as consumers became able to “rent” movies with the click of their remote, Blockbuster would be a bankrupt corporate dinosaur, Redstone probably would have considered invest those billions elsewhere. But no one at Blockbuster knew he was headed for a cliff.
In FTX’s case, however, Bankman-Fried probably didn’t need a crystal ball to see that what he and his fellow Caribbean playmates were presiding over was near disaster. John Ray III, appointed to replace Bankman-Fried as CEO during the bankruptcy, and previously overseer of Enron’s cleanup, remarked of FTX that he had never seen “such a complete failure of business and such a total lack of trustworthy finances”. information as it happened here.
Perhaps only a former teenage whiz with no moral scruples could possess the technical skills and lack of ethics necessary to successfully transfer his clients’ money between various affiliated business entities in a shell game that included the using new loans to pay interest. on former loans in order to present the fiction of liquidity, with celebrities like quarterback Tom Brady and television actor Larry David enlisted to improve FTX’s public image. Bankman-Fried even had the FTX logo affixed to the uniforms of all Major League Baseball umpires, juxtaposing the Nike swoosh adorning those of the players. After flying so high, the company, once estimated at $32 billion, is now under federal investigation for securities violations.
But the writing had been on the wall for a long time for the Biden administration to see. Crypto was losing a lot of money in recent months, but Bankman-Fried was mysteriously buying rival crypto companies like BlockFi and Voyager Digital, while the Securities and Exchange Commission apparently stood idly by.
Add to all that the fact that Bankman-Fried’s parents are Democratic Party operatives, his father, Joseph Bankman, who helped Senator Elizabeth Warren draft a tax bill, his mother the head of a group called “Mind The Gap” that connects donors to Democratic candidates. and causes, and his brother Gabe founded a political action committee that uses fear of future pandemics to funnel money to Democrats.
Compare the fraudulent money FTX paid to Democrats with Elizabeth Holmes, disgraced CEO of multi-billion dollar blood test scam company Theranos, hosting a fundraiser for Hillary Clinton’s presidential campaign at the headquarters of Theranos’ Palo Alto in the spring of 2016, throwing in a chance to face Chelsea Clinton for those willing to shell out $2,700.
In the cases of FTX and Theranos, not all unwitting investor liquidity descended into the black hole of Bankman-Fried and Holmes lies; they have funded left-wing candidates and causes that the owners of that money have not approved of, and no doubt many oppose. And Democrats don’t seem too happy to take money invested under false pretenses.
So the left has found another way to use capitalism in its war against economic freedom – and every other freedom.
The opinions expressed in this article are the opinions of the author and do not necessarily reflect the opinions of The Epoch Times.