Midterm Democrats Funded With Counterfeit Money
Thanks to facial recognition technology capable of to find a wanted man who walks in front of a surveillance camera all over the world, and an artificial intelligence capable of generating deepfake video imitations so realistic that Congress has started panic about its potential for abuse more than three years ago, infallible counterfeiting is hardly a heavyweight.
But cash has become almost a relic of the 20th century. Fake dollars just used by Democrats to contain the widely predicted Republican ‘red wave’ was the wealth that existed in cyberspace, the result of an investor muddle perpetrated by a now ramshackle tycoon in his twenties whose treasure chest eventually consisted fictitious 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 rake nearly $48 million during his US Senate campaign from Pennsylvania, while the GOP opponent he defeated, Mehmet Oz, only raked in about $12 million (increased by loaning himself $21 million of dollars). Or outgoing New Hampshire Senator Maggie Hassan re-elected after breeding $38 million, while his GOP challenger, retired Trump-backed general Don Bolduc, raked in 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 who double as its own polyamorous commune.
Before his financial orgy ends this month and over $2 billion in FTX client investments dissolved, Bankman-Friend had handed Joe Biden $10 million in the 2020 presidential election and given Democrats more than $40 million halfway through this year, likely buying the party a majority in US Senate in the next Congress. Now ruined, he was the second biggest contributor to the party’s campaigns, behind only Hungarian-born leftist billionaire currency 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 bankruptcy, and previously overseer of Enron’s cleanup, noticed from FTX that he had never seen “such a complete failure of corporate controls and such a complete absence of trustworthy financial information as has 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 digital travelwhile the Securities and Exchange Commission apparently sat idly by.
Add to all this the fact that Bankman-Fried Parents are Democratic Party operatives, her father Joseph Bankman having helped Senator Elizabeth Warren draft a tax bill, her mother leading a group called ‘Mind The Gap’ which connects donors with candidates and to Democratic causes, and his brother Gabe founding a political action committee that uses fear of future pandemics to funnel money to Democrats.
Compare the fraudulent money that FTX charged Democrats with Elizabeth Holmes, disgraced CEO of multibillion-dollar blood test scam company Theranos, accommodation a Hillary Clinton presidential campaign fundraiser at Theranos headquarters in Palo Alto in the spring of 2016, offering 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.