FTX collapse , how will markets be affected?

[topdom]

Just heard of FTX and its collapse and that 30 billion USD evaporated with it.

How will everything be affected, do you think:

USD
Cryptos
Real estate
Gold
Stocks
Domains

Markets are controlled, but still maybe things will be allowed to go up or down naturally.

Logically USD was supposed to go up imo, because there is less cash. But instead gold went up 10 percent in a few days.
Someone (Gn.Dcd.) says there is too much gold, like billions, and trillions times more than publicly known (I don't believe it, but maybe there is some truth in it).

Can people be in debt, and still buy domains (as upgrade, or to support existing site via redirects)?

 

[poweredbyme]

As a result, FTX event is very small thing to affect gold price. It can affect crypto prices temporarily. It's a small amount for any market including domain market.

> Can people be in debt, and still buy domains (as upgrade, or to support existing site via redirects)?

Why not?

 

[GoKaizen]

Rogan

 

[topdom]

There is no official gold standard (until recently), so gold price is irrelevant (theoretically), can be manipulated up or down.Big Asian countries have gold standard on their currencies now , or at least in digital versions/ or/ international trade. USD will have it also, but not the current version (valuewise they can be the same). Total amount of fiat currency may not be so high, because there are debts which need to be counted as negative, and actually total amount of currency can be negative in this sense (not, because elites were creating it for themselves without creating debt at the same time). But you can't bring gold standard just because total amount of currency is small, because some people have too much "cash" (stocks, previously printed cash, traficking money), and giving all the gold to them just to have a nonfiat currency, would not be fair.
FTX was DS crypto machine (just like Fed was DS cash machine). It would collapse anyway, either good guys or bad guys would make it happen (for opposite purposes). USD can't be allowed to collapse, because it would create a big chaos worldwide almost like nuke war, and wouldn't be fair, but excess currency needs to be burnt or frozen to make it a good currency.

 

[poweredbyme]

Creation of debt (bank loan) is actually the opposite. It's creation of money. Money supply basically consists of physical + virtual money (electronic money in bank accounts). Bank loans inflate virtual money supply tremendously and out of control.. For instance, let's say Alice borrows $1,000 from bank, then spends it. That borrowed $1,000 then returns to bank as deposit. Now bank has $1,000 to be borrowed again. That is a never ending cycle and inevitably ends with crashes like 2008 mortgage crisis.

There is no official gold standard because it's a political choice. Governments need inflation. Gold, if used as a medium of exchange, can not create inflation in prices. Gold can create deflation. If we price everything in gold or bitcoin or anything in limited quantity, prices will never raise, will likely always go down. Inflation supports economic growth, creates more jobs, more votes. Who pays the price of inflation? People with fixed income. Who pays the price of deflation? Elites. Inflationary or deflationary economy is a political choice in who will pay the price. That's it. Using something in limited or unlimited quantity as national currency is just a political choice.

>But you can't bring gold standard just because total amount of currency is small, because some people have too much "cash"

Most of cash in fiat currencies is in fact worthless. We live in an illusion.

 

[Musketeer]

It was the planned attack from Binance against FTX.
Cryptomarket got down as you can see.

 

[wwwulff]

Crypto lender BlockFi files for bankruptcy as FTX ripple effect spreads​

https://www.reuters.com/technology/crypto-lender-blockfi-files-bankruptcy-protection-2022-11-28/

 

[silentg]

BlockFi sues Sam Bankman-Fried over Robinhood shares​

https://www.ft.com/content/1719e122-3b50-4d86-9a30-9fe72f2286fe

 

[OmarVG]

 

[GoKaizen]

Bitcoin’s last stand

https://www.ecb.europa.eu/press/blog/date/2022/html/ecb.blog221130~5301eecd19.en.html

 

[BRANDERX]

Best vid I could find on the ftx mess.

Good video..

Missing pieces remain, "the hack", "the 1 billion that mysteriously vanished" etc..

Would make a good movie..

 

[GoKaizen]

Yahoo Finance: Accounting firm Mazars drops all crypto clients, including Binance and Crypto.com

https://finance.yahoo.com/news/acco...ncluding-binance-and-cryptocom-153807881.html