Very nice touch paraphrasing Richard III to open. Shakespeare oftentimes sheds light on the current lunacy. Another Shakespearean line that works for our time is “Hell is empty and all the devils are here”.
A most notable coward, an infinite and endless liar, an hourly promise breaker, the owner of no one good quality. Shakespeare All’s Well That Ends Well
Common references, I know; best I could do… But could some of you bards do something with “out damned spot” trump’s further decent into madness and the E. files? Or “double, double toil and trouble” and Project 2025’s spell over our country?
I am enjoying all of these Shakespeare quotes, and to trump, Hegseth, Gabbard, Vance, Bondi, et. al., I offer this one "Cudgel thy brains no more about it, for your dull ass will not mend his pace with beating."
He who controls the “numbers” - ie votes and polls and economic data and stock market manipulation and the federal reserve and the treasury dept - controls, well, pretty much everything else, potentially anyway. And that seems to be the trump regimes MO, the goal.
It's the medium of choice for high-level criminal activity. Especially for transnational cybercriminals. And for crooked politicians who wish to hide or obscure who is paying them and how much.
Secondarily, it's a method of fleecing gullible non-institutional investors of their money.
The choice of drug cartels, human traffickers and rogue regimes like N. Korea and Iran. Crypto is like that line from Seinfeld: "It's a show about nothing!"
Like PK said "it's vibes all the way down." There is a very amusing story behind that line, which exemplifies why PK is such an entertaining writer.
Thinking a little about fluctuating crypto value does o]put me in mind of wondering why, at a time when we are straining at gnats to try to decipher the impact of tariffs on inflation, there isn't more discussion of the possibly much more significant impact that dollar value fluctuation has on it.
Just make sure to buy a home that won't lose value to climate change, either by itself being vulnerable to the increasing risks (inland flooding, coastal loss, wildfire, etc.), or by being associated with a state/municipality that will suffer a property revenue death spiral by losses elsewhere (e.g., the City of Miami).
Then I advocate at least being ·aware· of the issue.
It's painful to see people stunned and completely unaware that their property insurance prices are going through the roof, or that the market value of their homes are on a downslide. It's worse when you hear that people managed to find "affordable"* insurance when you know that there are so many property insurance companies that had been given high ratings by Demotech that went belly-up the minute the claims came in.
______________
*It shouldn't be politician's roles to make insurance "affordable" when the problem is increasingly uninsurable risk. That subsidizes building in endangered property markets. As it is the US should stop paying for rebuilding recreational beaches every time a storm eats one, and should offer only coastal reinforcement. It's time for fiscal triage.
Trump would probably coerce the GOP in Congress to bailout crypto companies that crater if crypto implodes. He would claim it is akin to the financial crisis preceding the great recession. He'd do this of course because he and his family personally have so much to lose. Ds need to prevent this from happening.
Secretary Bessent today said that he did not have the authority to buy crypto to "correct" the current slump, that legislation would be required. No doubt it will be coming.
Did he speculate on why in the world anyone besides crypto-grifters would want the US Treasury to do that? Who cares if criminals lose their ass? Oops, I guess I just answered the question.
Unfortunately, Democrats have their hands out for $$$ coming from the crypto PAC, as much as Republicans.
I actually doubt any legislation would pass because it would probably empower Bessent to but $TRUMP coins.
But, I also doubt that there will not be a bailout. This grift is now big enough to raise $200M for the midterms. Trump will find a way to help them out.
This is exactly why I'd remain bullish on crypto if I was invested in it--Trump will force the treasury to make the big players whole should crypto crash.
On the other hand, as we're seeing with France and Elon Musk, the EU may actually prosecute these crooks even if our hideously corrupt government won't.
What scares me as well is legislation such as the Genius Act that seem to allow cryptocurrencies to be backed by actual US dollars. I’m no expert but isn’t this dangerous?
Yes! It is dangerous for the same reason that banks are dangerous without regulation and deposit insurance: will the issuers of "stable coins" be subject to strong regulation -- and government supervision -- to force them to keep the promised 1:1 backing in real dollars? Last I looked at the Genius Act, it did not. Where will this end up? The crypto industry has been doing all it can to create a facade of regulation without serious oversight by the SEC or banking regulators.
And as we’ve seen, Trump and the Republican Party is NOT fond of regulating ANYTHING because corporations do such a splendid job of regulating themselves! (tongue jammed firmly in cheek)
Stablecoins are basically digital checking accounts. There's nothing wrong with the basic idea.
The Genius Act does indeed say that if you have a product called a "stablecoin" then it must be backed by stable assets e.g. US dollars. I suspect you will see major US banks offering stablecoins, which will be as safe as having a checking account at that institution.
Of course criminality is always possible, and only an idiot would buy Trump's stablecoin, for instance. But you wouldn't put your money in "Trump bank" either.
Yes, definitely. I wouldn't trust a stablecoin with your life savings. But a few hundred dollars would be safe if you trusted the company behind it. That's what digital currency is good for: a petty cash replacement. It was NEVER meant to be an "investment" like the cryptos are today. It's insane to put serious money into them.
Crypto could contribute to the next financial crisis: the ties of crypto to the real economy and the real financial system are opaque (at least to me) but they exist and a collapse of crypto could trigger a downward spiral depending how much banks, private credit, mutual funds, etc. are exposed not to crypto per se but to borrowers who are overextended in crypto.
Good point. In general I’m concerned that the truly wealthy will find, or have found, ways to hedge potential cryptocurrency losses. This could be through existing legislation backing cryptocurrencies with dollars, or by quasi legal or illegal means. Certainly the Trump crime family and their crypto ventures will do this efficiently and others will follow.
I suspect he doesn't have enough influence in Congress to pull that off. It would only take a couple of Republicans to kill that plan. Google Gemini tells us:
Based on recent legislative activity and voting records from late 2025 and early 2026, several Republican senators have demonstrated a more fiscally conservative, anti-bailout, or skeptical stance on certain crypto-related regulatory actions, even while many of their colleagues support the industry.
Sen. Josh Hawley (R-Mo.): Broke with his party to oppose a 2025 effort that was viewed as a bailout for crypto investors.
Sen. Mike Rounds (R-S.D.): A senior Banking Committee Republican who has raised concerns about crypto exchanges paying high yields on stablecoins, signaling support for banking industry efforts to restrict these practices, which crypto firms have characterized as a "bailout" attempt.
Senate Fiscal Conservatives: In January 2026, a group of senators, including Ted Budd (R-N.C.), Ron Johnson (R-Wis.), Mike Lee (R-Utah), Rand Paul (R-Ky.), Rick Scott (R-Fla.), and Tommy Tuberville (R-Ala.), voted against a spending package, often citing concerns about federal spending and deficits. Senators like Paul have previously expressed general opposition to government interventions in the market.
"However, the core use case even for stablecoins appears to be criminal activity."
And, who do we find heavily invested in crypto? Got it in one — the trump Crime Family, with Eric, DJT, Jr, and even Barron all in on the action. So much foreign "investment" in the Family's ventures are in crypto or stablecoins, both publicized and hidden, and trump's own net-worth "gains" of over $4 billion in only his first year of this second term are on unrealized paper profits. A blowout in crypto and its derivative "currency" would cost the trump's criminal enterprises boatloads of *paper* losses, as it must be emphasized that collectively they've put in near-zero cash of their own, just riding the suckers money like the con-artist grifters they are...feh!
Yes. How are we so vulnerable to such corruption. There are only the courts and not enough plaintiffs to bring charges against Trump it seems. Just incredible that we are so defenseless against this profligate debased criminal.
This is why we need to elect as many Democrats with a backbone and integrity as we can between now and December. Many Democrats in both the House and Senate are calling for investigations into all this white collar crime of the Trumps and their extensive crime families and cronies!
Everyone who is so excited about a blue wave in the midterms needs to seriously beware of all the planning happening now to circumvent all the results of that election. We have no idea what these evil minds are planning in order to retain power!
Yeah, we know. One Big Beautiful Blue Tsunami will make that hard for them to pull off. If we show up in big enough numbers, we can overwhelm their corruption.
There's no excuse to stay home on election day. Every vote matters.
Heather Cox Richardson reported - 'Trump ally Steve Bannon said yesterday on his podcast: “You’re damn right, we’re going to have ICE surround the polls come November. We’re not going to sit here and allow you to steal the country again. And you can whine and cry and throw your toys out of the pram all you want, but we will never again allow an election to be stolen.”'
Yes! In The Parnas Perspective, Aaron reports that one of the listed restrictions on ICE the Democrats are calling for is for no more roving patrols by ICE. That should stop Bannon's latest Voter Suppression Tactic Idea! Also the Dems are calling for the End To ICE Using Racial Profiling or arresting and retaining US Citizens without a judicial warrant.
The Fimbulvinter is three years without summer and harsh winds blowing from all directions. The Fenris wolf and his offspring will try to devour the Sun and the Moon.
(We were taught stuff like this at school in Norway).
My personal wish for crypto to crash is to finally have my three adult children stop giving me their long, sympathetic looks as if I am a tottering man of dimmer and dimmer wit.
For years I have told them that cryptocurrency is doomed to collapse because it creates no value, other than the criminal class. All the while they have dipped in and out of the crypto market pocketing profits all along the way.
For their sake, I hope I am wrong. But for my sake, I hope you Dr. Krugman are right.
They are long past listening to my ancient wisdom. The only one who pays any attention is my son-in-law who has proven to be a very savvy investor in today's casino market.
I think he thinks I am right, but being right means nothing on Wall Street now, until of course things come tumbling down. I used to be the same, so I have no reason to resent their instincts.
Yes. It's the same story, repeated. If "they" hook you with some wins, you keep playing, even as the losses pile up. They count on humankind's inability to maintain self-control.
According to polling, those young crypto bros are moving away from crypto and in to sports betting and prediction markets. Make no mistake though, your kids are just gambling. It's entertainment, not investing.
Sadly, these young people only know markets that have gone straight up. They will learn the hard way, like previous generations have.
Weighing in here as a retired teacher who saved and did the IRA mutual fund thing. I never really understood the crypto game, lose interest within 15 seconds of someone trying to explain it, have no interest in anything the Trumps are into, and don't trust anyone pushing it. Of course, that's me, just an average American. (Yes, I know about what mutual funds do.)
My rule of thumb is that I have to be able to understand it. I get buying stocks and bonds. I understand the basics of banking. If it's too complicated...the the securitization schemes where they slice and dice and back them with pseudo-insurance, or crypto...I don't want anything to do with it. The complication, which sounds so brilliant, is where the fraud is hiding.
"Complication is where the fraud gets concealed," is an apt truism. But crypto doesn't even pretend it isn't a scam. As you-know-who might say, "that's what I like about it."
Read my detailed post on the realities of Bitcoin and crypto. I'm an "industry expert" in crypto (not in the business myself, but exposed to it for years), and no, you should NOT "invest" (read: gamble on) crypto. There's nothing fancy about it, it's just gambling on memes that are connected to absolutely nothing tangible.
I believe it was originally an abbreviation, as you say, not a typo. The typo story is likely folk etymology. I doubt it mostly because the origin story I keep seeing dates it to 2013, and claims it arose in connection to crypto trading, but I remember it being used in discussions of stock trading (all kinds of stock) back in the 1990's. But the typo story is too quirky to die.
What's interesting is just how much money the pro-crypto political action campaigns have accrued to impact the 2026 elections. Despite (or perhaps, because of) these issues, money continues to flow to political groups advocating on behalf cryptocurrencies.
Fairshake, a crypto group that spent over $130mn during the 2024 US election cycle supporting pro-crypto candidates, reported last month it has nearly $200mn to spend for this coming midterm year.
Doesn't crypto just lack the thing broad society requires of money, being regulation/democratic control? This is Ann Pettifor's argument for the difference between gold and crypto. Crypto enthousiast advocate crypto on the basis that it is 'free from regulation' and therefore a-political, as if that is a good thing. The whole idea of wanting an unregulated currency is in itself a highly political act if you ask me.
It's been many moons since I took Econ 101, but the instructor in that class taught that the only thing that gives the dollar value is that other people are willing to accept it in exchange for other things. As Paul states above, using crypto to buy things is a difficult process - most people aren't going to accept it. Therefore, it fails the main test required to be considered "money."
Incredible that Vivaldi wrote his music for 15 year old orphans. Incredible that such virtuosity would be casually expected of such young musicians. I went to my 10-year-old grandson’s first concert (double bass) and the kids were willing but untuneful. Adorable. Hard to imagine them ever developing into such musicians! But some will!
The nuns managing the orphanage would monitor the girls and, as they aged, determine whether they could continue in the orchestra or were to be sent to work in the laundry or in the lace-making rooms.
It's becoming a commonplace that "everything Trump touches dies." Maybe his fecal touch will extend to crypto. Such a development would be at once emotionally rewarding and economically troubling, though Dr. Krugman's assessment does assuage my fears somewhat.
I hope readers will enjoy the appropriate-for-this-message Musical Coda. The left hand of the lead violinist is amazing.
Yeah, Bitcoin and all crypto could go to zero and the US financial system would shrug. It's big, but nowhere near big enough to create systemwide problems.
World Liberty Financial is seeking to obtain a banking licence, now they have GENIUS act to provide credibility . How does this square to hand these people a possibility of a Trust Bank , an oxymoron.
For what it's worth, TrumpCoin has done very poorly in the marketplace thus far.
Trump's followers, for the most part, aren't stupid, they are evil. They know he's a criminal and won't risk their own money with him. They love him because he's a criminal that steals on their behalf as well as for himself. The contract will be broken (as it's starting to be) when they learn that he ONLY steals for himself and is even stealing from them too (e.g. tariffs).
There is no Crypto fall so far. The real value of Crypto is ZERO, so by that consideration Crypto is hugely overpriced. BTW, there won't be a Crypro fall because they now have a strong lobby in government to keep this parasite alive.
That's interesting. Intrinsic value zero, but practical value for criminals. Maybe not just vibes all the way down? Is there a way to peg its base-level value for supporting criminal activity? If I were a criminal, I would just want it to be stable, so I could pursue my crimes without the complication of "currency" fluctuation. That suggests crypto may have zero value, but stablecoin may have a base level of value in its role of supporting "legit criminal needs."
Very nice touch paraphrasing Richard III to open. Shakespeare oftentimes sheds light on the current lunacy. Another Shakespearean line that works for our time is “Hell is empty and all the devils are here”.
Now is the winter of our discontent
Made unglorious by this son of New York.
Apologies to Richard III and Edward IV for connecting them to the Donald.
A most notable coward, an infinite and endless liar, an hourly promise breaker, the owner of no one good quality. Shakespeare All’s Well That Ends Well
Common references, I know; best I could do… But could some of you bards do something with “out damned spot” trump’s further decent into madness and the E. files? Or “double, double toil and trouble” and Project 2025’s spell over our country?
well, the immediately past Duke of York had some connections with the Donald, though only because of their common island...
I think this also works quite well ...
"So shaken as we are, so wan with care,
Find we a time for frighted peace to pant
And breathe short-winded accents of new broils
To be commenced in strands afar remote."
Henry IV, Part 1 (Act 1, Scene 1).
Fuck off, ignorant fool.
Very appropriate: your phrase must be somewhere in Shakespeare!
Another [expletive deleted] spam bot. Reported.
I am enjoying all of these Shakespeare quotes, and to trump, Hegseth, Gabbard, Vance, Bondi, et. al., I offer this one "Cudgel thy brains no more about it, for your dull ass will not mend his pace with beating."
Thou] mad mustachio purple-hued maltworms!
William Shakespeare, Henry IV: Part 1
From Troilus and Cressida:
"...Then every thing includes itself in power,
Power into will, will into appetite;
And appetite, an universal wolf,
So doubly seconded with will and power,
Must make perforce an universal prey,
And last eat up himself."
And then there is the oldie but goodie
It is a tale
Told by an idiot, full of sound and fury,
Signifying nothing.
(Macbeth)
"Measure for Measure": "Oh, it is excellent to have a giant's power. But it is tyrannous to use it like a giant."
And totally apropos with the musical coda...
My thought exactly. Vivaldi is at least as good as Paganini.
In all ways possible.
Or?
"The bay trees in our country are all withered,
And meteors fright the fixèd stars of heaven;
The pale-faced moon looks bloody on the Earth,
And lean-looked prophets whisper fearful change;
Rich men look sad, and ruffians dance and leap,
The one in fear to lose what they enjoy,
The other to enjoy by rage and war.
These signs forerun the death or fall of kings."
--Richard II-2-4
Stability of anything valuable is manufactured
He who controls the “numbers” - ie votes and polls and economic data and stock market manipulation and the federal reserve and the treasury dept - controls, well, pretty much everything else, potentially anyway. And that seems to be the trump regimes MO, the goal.
The best term for it is 'The Floating World', from the Japanese term for the precinct of illusion where the Geisha could be found.
It's the medium of choice for high-level criminal activity. Especially for transnational cybercriminals. And for crooked politicians who wish to hide or obscure who is paying them and how much.
Secondarily, it's a method of fleecing gullible non-institutional investors of their money.
The choice of drug cartels, human traffickers and rogue regimes like N. Korea and Iran. Crypto is like that line from Seinfeld: "It's a show about nothing!"
And the trump rogue regime?
Like PK said "it's vibes all the way down." There is a very amusing story behind that line, which exemplifies why PK is such an entertaining writer.
Thinking a little about fluctuating crypto value does o]put me in mind of wondering why, at a time when we are straining at gnats to try to decipher the impact of tariffs on inflation, there isn't more discussion of the possibly much more significant impact that dollar value fluctuation has on it.
When there is a steady amount of money chasing a lower amount of goods, it’s called Inflation
Just make sure to buy a home that won't lose value to climate change, either by itself being vulnerable to the increasing risks (inland flooding, coastal loss, wildfire, etc.), or by being associated with a state/municipality that will suffer a property revenue death spiral by losses elsewhere (e.g., the City of Miami).
Most people have litle choice - they need to buy their house where their job is.
Then I advocate at least being ·aware· of the issue.
It's painful to see people stunned and completely unaware that their property insurance prices are going through the roof, or that the market value of their homes are on a downslide. It's worse when you hear that people managed to find "affordable"* insurance when you know that there are so many property insurance companies that had been given high ratings by Demotech that went belly-up the minute the claims came in.
______________
*It shouldn't be politician's roles to make insurance "affordable" when the problem is increasingly uninsurable risk. That subsidizes building in endangered property markets. As it is the US should stop paying for rebuilding recreational beaches every time a storm eats one, and should offer only coastal reinforcement. It's time for fiscal triage.
Trump would probably coerce the GOP in Congress to bailout crypto companies that crater if crypto implodes. He would claim it is akin to the financial crisis preceding the great recession. He'd do this of course because he and his family personally have so much to lose. Ds need to prevent this from happening.
That’s always the danger of corrupt influence. They will probably make the argument that it is a good time to fill the crypto “reserve”.
This country is in deep trouble. The Broligarchs are looting it with both hands.
Secretary Bessent today said that he did not have the authority to buy crypto to "correct" the current slump, that legislation would be required. No doubt it will be coming.
Did he speculate on why in the world anyone besides crypto-grifters would want the US Treasury to do that? Who cares if criminals lose their ass? Oops, I guess I just answered the question.
😂 as if the trump regime ever let a minor detail, like the law, get in the way of his agenda!
You mean Trump must didn't issue another EO? 🙄
Unfortunately, Democrats have their hands out for $$$ coming from the crypto PAC, as much as Republicans.
I actually doubt any legislation would pass because it would probably empower Bessent to but $TRUMP coins.
But, I also doubt that there will not be a bailout. This grift is now big enough to raise $200M for the midterms. Trump will find a way to help them out.
And feet
Whole-body charlatans
As in Melania's stilettos?
This is exactly why I'd remain bullish on crypto if I was invested in it--Trump will force the treasury to make the big players whole should crypto crash.
On the other hand, as we're seeing with France and Elon Musk, the EU may actually prosecute these crooks even if our hideously corrupt government won't.
This is what scares me.
What scares me as well is legislation such as the Genius Act that seem to allow cryptocurrencies to be backed by actual US dollars. I’m no expert but isn’t this dangerous?
Yes! It is dangerous for the same reason that banks are dangerous without regulation and deposit insurance: will the issuers of "stable coins" be subject to strong regulation -- and government supervision -- to force them to keep the promised 1:1 backing in real dollars? Last I looked at the Genius Act, it did not. Where will this end up? The crypto industry has been doing all it can to create a facade of regulation without serious oversight by the SEC or banking regulators.
And as we’ve seen, Trump and the Republican Party is NOT fond of regulating ANYTHING because corporations do such a splendid job of regulating themselves! (tongue jammed firmly in cheek)
No organization should ever be allowed to regulate or investigate itself. Talk about conflict of interest!
Stablecoins are basically digital checking accounts. There's nothing wrong with the basic idea.
The Genius Act does indeed say that if you have a product called a "stablecoin" then it must be backed by stable assets e.g. US dollars. I suspect you will see major US banks offering stablecoins, which will be as safe as having a checking account at that institution.
Of course criminality is always possible, and only an idiot would buy Trump's stablecoin, for instance. But you wouldn't put your money in "Trump bank" either.
"Trump Bank" - that's a(n) lol concept for sure.
Digital checking accounts with no FDIC or bank regulation.
Yes, definitely. I wouldn't trust a stablecoin with your life savings. But a few hundred dollars would be safe if you trusted the company behind it. That's what digital currency is good for: a petty cash replacement. It was NEVER meant to be an "investment" like the cryptos are today. It's insane to put serious money into them.
It's GENIUS! Haven't you read the name of the Act?
Trump is a pawn in this game.
He's not an unwilling or unwitting pawn in all of this.
Willing but unwitting.
But the question is, which crypto. Bitcoin is not "American made", whereas TrumpCoin is MAGA.
Boy, I hope you are wrong, but the past year dashes that hooe a bit.
Crypto could contribute to the next financial crisis: the ties of crypto to the real economy and the real financial system are opaque (at least to me) but they exist and a collapse of crypto could trigger a downward spiral depending how much banks, private credit, mutual funds, etc. are exposed not to crypto per se but to borrowers who are overextended in crypto.
Good point. In general I’m concerned that the truly wealthy will find, or have found, ways to hedge potential cryptocurrency losses. This could be through existing legislation backing cryptocurrencies with dollars, or by quasi legal or illegal means. Certainly the Trump crime family and their crypto ventures will do this efficiently and others will follow.
I suspect he doesn't have enough influence in Congress to pull that off. It would only take a couple of Republicans to kill that plan. Google Gemini tells us:
Based on recent legislative activity and voting records from late 2025 and early 2026, several Republican senators have demonstrated a more fiscally conservative, anti-bailout, or skeptical stance on certain crypto-related regulatory actions, even while many of their colleagues support the industry.
Sen. Josh Hawley (R-Mo.): Broke with his party to oppose a 2025 effort that was viewed as a bailout for crypto investors.
Sen. Mike Rounds (R-S.D.): A senior Banking Committee Republican who has raised concerns about crypto exchanges paying high yields on stablecoins, signaling support for banking industry efforts to restrict these practices, which crypto firms have characterized as a "bailout" attempt.
Senate Fiscal Conservatives: In January 2026, a group of senators, including Ted Budd (R-N.C.), Ron Johnson (R-Wis.), Mike Lee (R-Utah), Rand Paul (R-Ky.), Rick Scott (R-Fla.), and Tommy Tuberville (R-Ala.), voted against a spending package, often citing concerns about federal spending and deficits. Senators like Paul have previously expressed general opposition to government interventions in the market.
I think there are a few republicans that would say no to a crypto bailout, which would be enough if the Democrats all said no, which is questionable.
"However, the core use case even for stablecoins appears to be criminal activity."
And, who do we find heavily invested in crypto? Got it in one — the trump Crime Family, with Eric, DJT, Jr, and even Barron all in on the action. So much foreign "investment" in the Family's ventures are in crypto or stablecoins, both publicized and hidden, and trump's own net-worth "gains" of over $4 billion in only his first year of this second term are on unrealized paper profits. A blowout in crypto and its derivative "currency" would cost the trump's criminal enterprises boatloads of *paper* losses, as it must be emphasized that collectively they've put in near-zero cash of their own, just riding the suckers money like the con-artist grifters they are...feh!
My first thought is to agree, but Trump so enjoys screwing people over that he might enjoy watching those cyber bros twist in the wind.
Yep. TOO BIG TO FAIL 2.0 on steroids and trump is the primary recipient.
The level of corruption these people get away with is stunning (and that is an understatement)
Yes. How are we so vulnerable to such corruption. There are only the courts and not enough plaintiffs to bring charges against Trump it seems. Just incredible that we are so defenseless against this profligate debased criminal.
The level of corruption in the US under Trump is higher than under Mobutu.
This is why we need to elect as many Democrats with a backbone and integrity as we can between now and December. Many Democrats in both the House and Senate are calling for investigations into all this white collar crime of the Trumps and their extensive crime families and cronies!
Everyone who is so excited about a blue wave in the midterms needs to seriously beware of all the planning happening now to circumvent all the results of that election. We have no idea what these evil minds are planning in order to retain power!
Yeah, we know. One Big Beautiful Blue Tsunami will make that hard for them to pull off. If we show up in big enough numbers, we can overwhelm their corruption.
There's no excuse to stay home on election day. Every vote matters.
Heather Cox Richardson reported - 'Trump ally Steve Bannon said yesterday on his podcast: “You’re damn right, we’re going to have ICE surround the polls come November. We’re not going to sit here and allow you to steal the country again. And you can whine and cry and throw your toys out of the pram all you want, but we will never again allow an election to be stolen.”'
So that's one thing we know they are planning.
Yes! In The Parnas Perspective, Aaron reports that one of the listed restrictions on ICE the Democrats are calling for is for no more roving patrols by ICE. That should stop Bannon's latest Voter Suppression Tactic Idea! Also the Dems are calling for the End To ICE Using Racial Profiling or arresting and retaining US Citizens without a judicial warrant.
They are planning to swoop in and confiscate ballot boxes in those 15 key areas he keeps talking about.
The Fimbulvinter is three years without summer and harsh winds blowing from all directions. The Fenris wolf and his offspring will try to devour the Sun and the Moon.
(We were taught stuff like this at school in Norway).
Are we there?
Looking out the windows on my backyard in New Jersey, it certainly looks that way.
Just joking, but our dog would probably say that I'm serious.
Yes.
With Trumpkopf playing the role of the Fenris wolf.
Can we forestall Fimbulvinter by sacrificing virgins into a volcano? Does Norway have volcanos? Would a hot spring suffice?
The Jan Mayen Island far off the coast has the Beerenberg volcano, which was active some fifty years ago. 🤫
Ok, won't work then.
My personal wish for crypto to crash is to finally have my three adult children stop giving me their long, sympathetic looks as if I am a tottering man of dimmer and dimmer wit.
For years I have told them that cryptocurrency is doomed to collapse because it creates no value, other than the criminal class. All the while they have dipped in and out of the crypto market pocketing profits all along the way.
For their sake, I hope I am wrong. But for my sake, I hope you Dr. Krugman are right.
A lot will depend on whether they get out at the right time. Gambling is now considered investment.
They are long past listening to my ancient wisdom. The only one who pays any attention is my son-in-law who has proven to be a very savvy investor in today's casino market.
I think he thinks I am right, but being right means nothing on Wall Street now, until of course things come tumbling down. I used to be the same, so I have no reason to resent their instincts.
Markets can remain irrational longer than you can remain solvent (allegedly J M Keynes).
Yes. It's the same story, repeated. If "they" hook you with some wins, you keep playing, even as the losses pile up. They count on humankind's inability to maintain self-control.
According to polling, those young crypto bros are moving away from crypto and in to sports betting and prediction markets. Make no mistake though, your kids are just gambling. It's entertainment, not investing.
Sadly, these young people only know markets that have gone straight up. They will learn the hard way, like previous generations have.
Your children are skilled gamblers. So don't worry: When it crashes, they can write a how-to book.
Weighing in here as a retired teacher who saved and did the IRA mutual fund thing. I never really understood the crypto game, lose interest within 15 seconds of someone trying to explain it, have no interest in anything the Trumps are into, and don't trust anyone pushing it. Of course, that's me, just an average American. (Yes, I know about what mutual funds do.)
Retired securities lawyer. If it sounds too good to be true, it is. Crypto is a scam, nothing more.
My rule of thumb is that I have to be able to understand it. I get buying stocks and bonds. I understand the basics of banking. If it's too complicated...the the securitization schemes where they slice and dice and back them with pseudo-insurance, or crypto...I don't want anything to do with it. The complication, which sounds so brilliant, is where the fraud is hiding.
"Complication is where the fraud gets concealed," is an apt truism. But crypto doesn't even pretend it isn't a scam. As you-know-who might say, "that's what I like about it."
Right. When my employer-managed plan offers crypto… then we’ll talk.
Yes, my 20 year professional financial advisor agrees too.
Read my detailed post on the realities of Bitcoin and crypto. I'm an "industry expert" in crypto (not in the business myself, but exposed to it for years), and no, you should NOT "invest" (read: gamble on) crypto. There's nothing fancy about it, it's just gambling on memes that are connected to absolutely nothing tangible.
Same here, though retired from a different field.
Hi, watch the Ted Talk about the blockchain:
How the US government is using blockchain to fight fraud | Kathryn Haun. 2016
HODL is an acronym. Hold On for Dear Life
Dr Krugman is correct. The “acronym” explanation came much later, because nerds hate an acronym vacuum.
A retronym?
Yes. It was an ironic take on HOLD in my understanding
That's someone who should've used spellcheck.
I believe it was originally an abbreviation, as you say, not a typo. The typo story is likely folk etymology. I doubt it mostly because the origin story I keep seeing dates it to 2013, and claims it arose in connection to crypto trading, but I remember it being used in discussions of stock trading (all kinds of stock) back in the 1990's. But the typo story is too quirky to die.
If Trump is in it, everyone (else) is going to lose money.
When you hear Trump bankrupted a casino, do you assume his lieutenants siphoned the house's money?
Not at all. He did it himself.
What's interesting is just how much money the pro-crypto political action campaigns have accrued to impact the 2026 elections. Despite (or perhaps, because of) these issues, money continues to flow to political groups advocating on behalf cryptocurrencies.
Fairshake, a crypto group that spent over $130mn during the 2024 US election cycle supporting pro-crypto candidates, reported last month it has nearly $200mn to spend for this coming midterm year.
https://nuancematters.substack.com/p/gold-the-dollar-and-the-fed
That's a lot of money, in an election we already have reason to worry about...
The real question is: WTF do these folks “get” all this $$$ from exactly?! I doesn’t grow on tree…but maybe 🤔 it kinda does these days 🤷♂️
The donors were the casinos (brokers), not the games themselves. And as we know, the house always wins.
Yep, the crypto industry basically bought the 2024 election and was the SINGLE LARGEST INDUSTRY DONOR, beating out Big Oil, Big Pharma, and so on.
Here's the best source for information on crypto-related grift:
https://www.citationneeded.news/
The empirical support for campaign finance law, and the reason why moneyed interests moved mountains to get rid of it.
We're getting exactly what we were warned about.
Doesn't crypto just lack the thing broad society requires of money, being regulation/democratic control? This is Ann Pettifor's argument for the difference between gold and crypto. Crypto enthousiast advocate crypto on the basis that it is 'free from regulation' and therefore a-political, as if that is a good thing. The whole idea of wanting an unregulated currency is in itself a highly political act if you ask me.
It's been many moons since I took Econ 101, but the instructor in that class taught that the only thing that gives the dollar value is that other people are willing to accept it in exchange for other things. As Paul states above, using crypto to buy things is a difficult process - most people aren't going to accept it. Therefore, it fails the main test required to be considered "money."
Divine Vivaldi interpretation.
Incredible that Vivaldi wrote his music for 15 year old orphans. Incredible that such virtuosity would be casually expected of such young musicians. I went to my 10-year-old grandson’s first concert (double bass) and the kids were willing but untuneful. Adorable. Hard to imagine them ever developing into such musicians! But some will!
The nuns managing the orphanage would monitor the girls and, as they aged, determine whether they could continue in the orchestra or were to be sent to work in the laundry or in the lace-making rooms.
Yes, lovely!
Revelatory performance indeed by Voices of Music. Thrilling, dangerous--so apt a choice for this topic!
At least with tulip mania, you got a tulip.
!!
Only two words: "Fake Money."
It's becoming a commonplace that "everything Trump touches dies." Maybe his fecal touch will extend to crypto. Such a development would be at once emotionally rewarding and economically troubling, though Dr. Krugman's assessment does assuage my fears somewhat.
I hope readers will enjoy the appropriate-for-this-message Musical Coda. The left hand of the lead violinist is amazing.
Yeah, Bitcoin and all crypto could go to zero and the US financial system would shrug. It's big, but nowhere near big enough to create systemwide problems.
World Liberty Financial is seeking to obtain a banking licence, now they have GENIUS act to provide credibility . How does this square to hand these people a possibility of a Trust Bank , an oxymoron.
For what it's worth, TrumpCoin has done very poorly in the marketplace thus far.
Trump's followers, for the most part, aren't stupid, they are evil. They know he's a criminal and won't risk their own money with him. They love him because he's a criminal that steals on their behalf as well as for himself. The contract will be broken (as it's starting to be) when they learn that he ONLY steals for himself and is even stealing from them too (e.g. tariffs).
TrumpCoin was just a vehicle with which to bribe him, nothing more.
🤯
There is no Crypto fall so far. The real value of Crypto is ZERO, so by that consideration Crypto is hugely overpriced. BTW, there won't be a Crypro fall because they now have a strong lobby in government to keep this parasite alive.
https://www.cnbc.com/2024/11/23/how-tech-bros-bought-americas-most-pro-crypto-congress-ever.html
I don't think it will go to zero because it's so useful to the criminal class. Bitcoin has a cult libertarian following.
People also enjoy complexity and the idea that they're in something mysterious.
That's interesting. Intrinsic value zero, but practical value for criminals. Maybe not just vibes all the way down? Is there a way to peg its base-level value for supporting criminal activity? If I were a criminal, I would just want it to be stable, so I could pursue my crimes without the complication of "currency" fluctuation. That suggests crypto may have zero value, but stablecoin may have a base level of value in its role of supporting "legit criminal needs."
Crypto is among the greatest scam against mankind in 21st century so far.
Well said!