Jew FTX crypto criminal, Sammy, fraud, con-artist, was HEAVILY connected w. WEF, Klaus Schwab, suckers

Apollonian

Guest Columnist

Sam Bankman-Fried Bought Into Stakeholder Capitalism And Proved It's A Disastrous Ideology​

BY TYLER DURDEN
SATURDAY, NOV 12, 2022 - 03:50 PM

Link: https://www.zerohedge.com/economics...capitalism-and-proved-its-disastrous-ideology

While many analysts and economists will be talking for months about the epic downfall of crypto-exchange company FTX and its founder Sam Bankman-Fried, their focus will be primarily on the billions lost, the mismanagement of funds, the fraud inherent in yield farming and the alleged betrayal of investor trust. This is a tale as old as time and not anything surprising. What many in the mainstream are missing, though, is Fried's attachments to the World Economic Foundation, various global elitists and his avid sermonizing of the tenets of “effective altruism”, which are nearly identical to the tenets of Klaus Schwab's Stakeholder Capitalism agenda.

The WEF lists FTX as a corporate “partner” and participant, which means the company must meet the globalist organization's standards for Stakeholder Capitalism, a socialist economic model which deconstructs the Adam Smith and Milton Friedman free market foundation.
Milton Friedman argued that the only responsibility of business should be growth and profit (within the boundaries of the law) with the shareholders in mind. The WEF insists that the Friedman philosophy must be abandoned and that the job of wealthy elites and corporations is to use profits as a tool for managing society (the so-called “stakeholders”). In other words, corporate leaders should become cultural and political leaders fulfilling greater ideological goals, all of them decidedly socialist/Marxist in origin.
Stakeholder Capitalism becomes a way to trick the public into investing their faith in corprorate leadership because these companies are no longer simply "in it for the money," they are in it for the survival of the world and the species, right? The companies become saviors, not just mercantilists. That kind of blind faith allows people to be taken advantage of in a big way. It's the same kind of faith once applied to kings and monarchies centuries ago, and it usually leads to various forms of feudalism.
In the WEF's vision of the future, the average person will “own nothing, have no privacy and be happy about it” while corporate elites in partnership with governments micromanage all production, all distribution and all finance.
An ongoing example of the early stages of this model is ESG, a credit system in which loans are given to companies and individuals based on their ESG score, derived from how dedicated they are to globalist causes. In the near future, if you don't promote social justice ideology and support establishment climate change claims, then you might not be able to get a loan from the bank for your business. You might not be able to get a mortgage loan for a new home. In fact, you might not even be allowed to have a bank account.
FTX and Fried heavily relied on investment firms like Blackrock, which is a major component of the spread of ESG. This may be why FTX regularly announced their devotion to climate and social justice projects, it kept them in the good graces of the ESG overlords.
A key component of Stakeholder Capitalism is the need for a digital currency framework, which might explain the WEF's interest in FTX as a partner. The move to a cashless society is the next step necessary for the micro-management of the economy and the ability to dole out rewards or punishments based on ESG scoring. It is an incremental top down implementation of a framework similar to China's “social credit system.”
The concept is being sold by the WEF and their corporate partners as way to create “equity” within the economy by incentivizing the redistribution of wealth from the very rich to the very poor and to 'humanitarian causes.” It uses access to the banking apparatus and the economy itself as a carrot or a cudgel. Really, it is the ultimate form of centralization and control posing as a charitable movement for the greater good. But without the freedom to succeed and the freedom to fail, there can be no greater good.
Evidence is mounting that the equity measures involved in Stakeholder Capitalism will actually erase wealth rather than create wealth. To be sure, it would make the majority of people financially even – Instead of being equally rich, we will all suffer in equal poverty.
The downfall of FTX and Sam Blankman-Fried illustrates this problem with clarity. Fried constantly espoused the pie-in-the-sky ideals of Stakeholder Capitalism, engaging in a kind of corporate charity built on socialist guidelines and climate cultism, while at the same time draining client accounts.

The FTX profit strategy was based initially on taking advantage of imbalances in international crypto exchange rates; a limited window for a quick cash grab rather than an idea for long term viability. It also relied on the crypto market constantly reinventing the wheel with new branding and marketing to grow demand for technology that the majority of people around the world don't really need or particularly desire.
Fried suggests that his intent all along was to expand capital as a means to give it away to leftist causes. He donated over $40 million to Democrat campaigns, for example. The problem was he failed in business while giving away the money of his clients at the same time. Some people argue that his clients are partly culpable for the losses, but Fried explicitly stated that his company would not use client funds in such a way. He lied to them, which is not a great feature of a supposed humanitarian.
Being 30 years old and naive certainly didn't help him, but Fried is a perfect example of why corporation leaders have no business being involved in social engineering. They are not qualified enough nor intelligent enough nor benevolent enough to mold society at large; no one is that wise or experienced. Beyond that, the Stakeholder Capitalism ideology is rooted in socialist drivel, making FTX a socialist drivel-based company.
The model is designed to inevitably reduce the standard of living for most people over time rather than improve it. Fried just showed us how and why.
FTX is a petri dish for the disease of Stakeholder Capitalism. In the end, FTX and Fried are a warning to us all that business should be separate from politics and cultural moderation. They are better off focusing on making money and increasing productivity and innovation; those companies that can't should be allowed to fail, not be propped up as pillars of social cohesion. This is the true way to ensure human progress. In the meantime, the rest of us are much better off without their help and “charitable” oversight.
 
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BREAKING: Now-collapsed FTX crypto slush fund laundered Ukraine donation money to Democrat candidates to help rig mid-terms​

Submitted by Dave Hodges on Saturday, November 12, 2022 - 22:43.

Link: https://thecommonsenseshow.com/agen...ed-ukraine-donation-money-democrat-candidates

SBF

By Mike Adams
NEWSTARGET

The FTX crypto slush fund run by now-disgraced Sam Bankman-Fried (and his MIT college buddies) laundered money for Ukraine into nearly $40 million worth of campaign donations for Democrats in the 2022 mid-term elections.
Over the last year, Joe Biden and the Democrats have pushed through well over $50 billion in funding for Ukraine, using US taxpayer money. Internationally, over $100 billion has been donated to Ukraine, according to Devex.com which has compiled worldwide donations and grants to the Ukrainian cause.
FTX simultaneously processed donations to Ukraine by using its crypto infrastructure. As CoinDesk.com reported in May of this year, “Ukraine Partners With FTX, Everstake to Launch New Crypto Donation Website.”
In other words, the corrupt Ukraine regime partnered with a corrupt crypto slush fund to take dollars from the corrupt US government and funnel them into the hands of corrupt Democrat candidates to win rigged mid-term elections.
CoinDesk-ukraine-ftx.png

According to data published by OpenSecrets.org, Sam Bankman-Fried donated nearly $40 million to political candidates in the 2022 mid-term elections. Only $235,200 went to Republicans, with the rest going to Democrats. FTX, in other words, was a Democrat slush fund money laundering operation that helped Democrats win mid-term elections (on top of their obvious cheating, ballot stuffing and ballot harvesting operations).
It begs the obvious question: Which Democrats took this dirty money from FTX, which had stolen the money from its own customers? We know that Fetterman received substantial financial support from FTX, for example.
Brighteon.TV

As CoinDesk.com reports:
“Aid for Ukraine,” which has the backing of crypto exchange FTX, staking platform Everstake and Ukraine’s Kuna exchange, will route donated crypto to the National Bank of Ukraine, Everstake’s Head of Growth Vlad Likhuta told CoinDesk. Ukraine’s crypto-savvy Ministry of Digital Transformation is also involved.
The country’s collective efforts have already raised some $48 million in bitcoin (BTC), DOT, ether (ETH), SOL, tether (USDT) and other cryptocurrencies, according to the website. Other estimates place the amount closer to $100 million, but totals vary with market swings and exactly which websites are included.

Put another way, if you donated money to “Ukraine” via this mechanism, you actually donated to Democrats in a rigged election funded by illegal campaign contributions laundered through FTX (which is increasingly emerging as the crypto hub run by people with globalist ties).
Here’s the propaganda pushed by the Ukraine regime to help narrate the cover story for all this:
The central bank is using donations to support “humanitarian aid programs” as well as Ukraine’s armed forces, according to the website. “The people will continue their fight for freedom, but they need more ammunition and necessities,” the website read.
We don’t know how much of these funds actually went to Ukraine, but we know Sam Bankman-Fried was one of the largest donors of cash to Democrat candidates in the 2022 mid-term elections (nearly $40 million, as shown above).

Massive “self-hack” has drained another nearly $1 billion from FTX accounts​

Late last night, the FTX app was auto-updated and transformed into a Trojan Horse app that logged into user accounts and stole their money. We covered this in a previous story on NewsTarget.com. So far today, we know that around $1 billion in remaining funds has been looted from FTX. This is widely believed to be a “self-hack” of FTX by its founders or insiders who are attempting to take the money and run, Mt. Gox style.
As CoinDesk.com reported today:
More than $600 million was siphoned from FTX’s crypto wallets late Friday. Soon after, FTX stated in its official Telegram channel that it had been compromised, instructing users not to install any new upgrades and to delete all FTX apps.
“FTX has been hacked. FTX apps are malware. Delete them. Chat is open. Don’t go on FTX site as it might download Trojans,” wrote an account administrator in the FTX Support Telegram chat. The message was pinned by FTX General Counsel Ryne Miller.

In essence, now after having built the world’s largest crypto slush fund to try to keep corrupt Democrats in power, somebody with inside access at FTX is apparently looting the last billion dollars worth of assets at the company.
CNBC also reports that Sam Bankman-Fried had a secret “back door” into the financial accounting system that allowed him to “transfer billions” without any regulatory scrutiny whatsoever. From CNBC.com:

Between $1 billion and $2 billion of FTX customer funds have disappeared, SBF had a secret ‘back door’ to transfer billions: Report
As Sam Bankman-Fried’s FTX enters bankruptcy protection, Reuters reports that between $1 billion to $2 billion of customer funds have vanished from the failed crypto exchange.

READ THE FULL STORY [see https://newstarget.com/2022-11-12-f...e-donation-money-to-democrat-candidates.html/]
 

Despite the magnitude of the fraud, there will be ZERO accountability or consequences for Democrat mega-donor SBF.​

Link: https://www.investmentwatchblog.com...-or-consequences-for-democrat-mega-donor-sbf/

November 13, 2022 9:07 pm by IWB
by Boo_Randy

“All animals are equal, but some animals are more equal than others.” — George Orwell
They got power & control because our mentally and morally debased electorate voted for corrupt malgovernance. #FJB

“With a gap of $8 billion between liabilities and assets, when FTX is insolvent, it will trigger a domino effect, which will lead to a series of investors related to FTX going bankrupt or being forced to sell assets.”

Hedge fund admits half its capital stuck on FTX exchange
See also There Was A “Red Wave” In One State
SBF bet $7.3M of FTX account holder’s money on Trump losing ’24. Blatantly illegal, but in our corrupt banana republic there will be zero accountability or consequences. #FJB


6w0170pjfqz91.jpg
 

FTX Digital Markets gave 2,500,000 USD to RINO McConnell​

November 15, 2022 2:28 pm by IWB

Link: https://www.investmentwatchblog.com/ftx-digital-markets-gave-2500000-usd-to-rino-mcconnell/

2.5 Million dollars given by FTX to RINO McConnell.

Now we know why McConnell was influenced to not support the important candidates and throw the election.
Here is a link to the opensecrets web page that keeps track of all political donations, see line 20:
www.opensecrets.org/outside-spending/detail/2022?cmte=C00571703&tab=donors

Here is a tweet with the sched A for McConnell’s slush fund: [ck site link, above, top]
 

Republicans slam DOJ for dropping campaign finance charges against major Democratic donor Sam Bankman-Fried: 'So we won't know which politicians he bribed?'​

Link: https://www.dailymail.co.uk/news/article-12913961/SBF-campaign-finance-donations-coverup.html
  • Republicans reacted with anger after prosecutors dropped second trial
  • Bankman-Fried faced separate charges of campaign finance violations
  • Prosecutors said the evidence was already presented at his first trial
By KEITH GRIFFITH FOR DAILYMAIL.COM
PUBLISHED: 02:13 EST, 31 December 2023 | UPDATED: 02:20 EST, 31 December 2023

Critics are accusing the DOJ of sweeping additional charges against FTX founder Sam Bankman-Fried under the rug, after prosecutors said he would not face a second trial for campaign finance violations following his conviction last month.
In a letter filed on Friday night in federal court in Manhattan, prosecutors said the 'strong public interest' in a prompt resolution of the case outweighed the benefits of a second trial.

In his letter to the court, US Attorney Damian Williams noted that prosecutors introduced evidence about all of the dropped charges during Bankman-Fried's monthlong first trial, where he was found guilty on all counts.
The additional, now dropped, charges included campaign finance violations and bribing foreign officials, which have yet to be approved by officials in the Bahamas, per the agreement that led to his extradition.
Some Republicans cried foul, noting that Bankman-Fried was a major donor to Democrats, including a reported $5.2 million infusion into President Joe Biden's 2020 campaign.

Sam Bankman-Fried is seen with Rep. Maxine Waters, a California Democrat and ranking member of the Banking Committee, in a photo prior to the collapse of FTX


Sam Bankman-Fried is seen with Rep. Maxine Waters, a California Democrat and ranking member of the Banking Committee, in a photo prior to the collapse of FTX
79474687-12913961-image-a-28_1704006397842.jpg

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'So we won't know which politicians he bribed or who's campaigns he influenced? That collective sigh of relief you are hearing is from the DEEP STATE,' tweeted Rep. Tim Burchett, a Tennessee Republican.
The move also drew criticism from within the cryptocurrency industry, including Paul Grewal, the chief legal officer of crypto exchange Coinbase.
'I think this is a miscarriage of justice. The public interest in a public airing of charges almost always matters. Campaign finance charges are at the very top of this list,' Coinbase's chief legal officer, Paul Grewal, wrote on X.
'What politicians and others knew what and when are critical questions that deserve answers,' he added. 'Dropping this on a Friday night before a holiday only fuels public cynics about the politics of all this.'
Last month, jurors convicted Bankman-Fried, 31, on all seven fraud and conspiracy counts he faced.
Prosecutors had accused him of looting $8 billion from his cryptocurrency exchange customers, and using the cash to buy lavish Bahamas real estate, fund risky trades, and splash out huge political donations.
Bankman-Fried had faced six additional charges that had been severed from his first trial, including conspiracy to make unlawful campaign contributions, conspiracy to bribe foreign officials and two other conspiracy counts.
The bribery charge related to allegations that Bankman-Fried made a $40 million cryptocurrency payoff to Chinese officials so they would unfreeze his hedge fund's accounts.
Evidence at the first trial indicated that Bankman-Fried directed 'straw donor' donations to US political candidates using customer funds, as he sought to influence regulations.
Bankman-Fried was known as a major donor to Democrats, but prosecutors say he also contributed to Republican campaigns as part of the alleged illicit donation scheme.
Bankman-Fried himself has claimed that he donated nearly as much to Republicans to Democrats, but said his GOP donations were funneled through 'dark money' channels because he feared 'super liberal' journalists would 'freak the f*** out if you donate to Republicans.'
According to a superseding indictment, Bankman-Fried 'misappropriated and embezzled FTX customer deposits,' including more than $100 million spent 'in campaign contributions to Democrats and Republicans to seek to influence cryptocurrency regulation.'
US Attorney Damian Williams noted that prosecutors introduced evidence about all of the dropped charges during Bankman-Fried's first trial, where he was found guilty on all counts


US Attorney Damian Williams noted that prosecutors introduced evidence about all of the dropped charges during Bankman-Fried's first trial, where he was found guilty on all counts
Critics are accusing the Department of Justice of sweeping additional charges against FTX founder Sam Bankman-Fried under the rug


Critics are accusing the Department of Justice of sweeping additional charges against FTX founder Sam Bankman-Fried under the rug
The indictment also alleged that Bankman-Fried concealed the source of campaign donations by making them in the names of various FTX executives, including former engineering director Nishad Singh.
At trial, Singh testified that Bankman-Fried directed that money from his Alameda Research hedge fund be used to make political donations even after he learned the fund owed $13 billion to customers in September 2022.
Singh said he continued to receive transfers from Alameda, allowing Bankman-Fried associates to use the money to donate to US Democratic candidates and causes in what he called a 'straw donor' scheme.
'There was an enormous hole,' said Singh on the witness stand. 'Alameda sending me money to spend ... necessarily deepened that hole.'
Bankman-Fried had been extradited in December 2022 from the Bahamas, where FTX was based, to face the seven earlier charges.
The Bahamas has yet to grant its consent for a trial on the remaining charges, and there was no indication of a timetable for their decision, prosecutors said in the memo explaining the move not to seek a second trial.
Bankman-Fried's guilty verdict came nearly one year after FTX filed for bankruptcy, erasing his once-$26 billion personal fortune in one of the fastest collapses of a major participant in U.S. financial markets.
Bankman-Fried could face decades in prison when he is sentenced in March by Judge Kaplan in Manhattan.
Prosecutors said much of the evidence that could be offered at a second trial was already presented at the first trial.
They also said a second trial would not affect how much time Bankman-Fried could face in prison under recommended federal guidelines, because Kaplan could consider all of Bankman-Fried's conduct when sentencing him for the counts on which he was convicted.
Bankman-Fried is expected to appeal his conviction.
 
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