Ancestors

Written by Keith D Johnson on 2024-11-07 at 20:16

I've had this #cartoon in my files for decades. It's no longer a cartoon but the reality many Americans voted for.

[#]election #politics #fascism #pollution #press #news #trump #corporatism

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Written by ⚯ Michel de Cryptadamus ⚯ on 2024-11-08 at 03:30

@KeithDJohnson don't forget about the part where the new administration is going to remove all the investor protections put into place after the 1929 crash by allowing companies to issue unregulated crypto tokens instead of shares of stock that are regulated by the #SEC.

(this is absolutely going to happen btw... crypto industry was responsible for ~50% of all corporate money in the election)

[#]stockmarket #Election2024 #2024Election #Trump #DonaldTrump #JDVance #uspol #uspolitics #politics #Kamala2024 #KamalaHarris #GOP #MAGA #MAGAts #Vote #Republicans #RVAT #Democrats #HarrisWalz2024 #VoteBlue #HarrisForPresident #HarrisWalz #VoteHarris

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Written by firebreathingduck on 2024-11-08 at 18:22

@cryptadamist @KeithDJohnson

50%? Do you have a source for that?

I would laugh at the entire crypto pyramid scheme ahem industry if not for the massive environmental cost.

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Written by ⚯ Michel de Cryptadamus ⚯ on 2024-11-08 at 19:37

@firebreathingduck @KeithDJohnson 48% of corporate money as of late august. not sure where it came in by the end.

https://www.axios.com/2024/08/22/crypto-election-spending-2024-pac-public-citizen

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Toot

Written by ⚯ Michel de Cryptadamus ⚯ on 2024-11-08 at 19:38

@firebreathingduck @KeithDJohnson

I would laugh at the entire crypto pyramid scheme ahem industry if not for the massive environmental cost.

probably time to stop laughing. republican senators are already drafting legislation to build a "strategic bitcoin reserve" i.e. "transfer hundreds of billions of taxpayer dollars directly into the hands of crypto bros".

https://cryptobriefing.com/bitcoin-reserve-asset-following-trump/

and that's before you even start worrying about the fact that some of them (most of them, actually) want to default on the debt and crash the dollar so as to make bitcoin the world's new USD. this has been peter thiel's stated plan for most of a decade. the only one who's not totally on board w/it appears to be elon, who i'm not sure i want to trust with the global financial system.

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Descendants

Written by firebreathingduck on 2024-11-08 at 19:41

@cryptadamist @KeithDJohnson

I misunderstood the earlier statement to mean that crypto was half of all election spending for the 2024 election. The total of all election spending is estimated to be $15.9 billion: https://www.opensecrets.org/news/2024/10/total-2024-election-spending-projected-to-exceed-previous-record/

Your other points still stand. If they switch US currency to Bitcoin, the economy will implode.

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Written by ⚯ Michel de Cryptadamus ⚯ on 2024-11-08 at 19:43

@firebreathingduck @KeithDJohnson don't quote me but i think there are some cases where opensecrets double counts spend which is why molly white set up followthecrypto.org, but even if they do it's still only a 10-20% overestimate.

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Written by ⚯ Michel de Cryptadamus ⚯ on 2024-11-08 at 20:30

@firebreathingduck @KeithDJohnson

If they switch US currency to Bitcoin, the economy will implode.

fwiw the plan i've heard them talk about works the other way: default on the debt and/or hyperinflate the dollar -> implode the economy -> the world will have no choice but to switch to bitcoin

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Written by firebreathingduck on 2024-11-08 at 20:37

@cryptadamist @KeithDJohnson

As far as I understand it, Bitcoin has a current transaction throughput limit of 7/second.

Visa processes 24,000 transactions per second.

How far would they get into their Bitcoin transition before someone said, "Wait, I ordered a pizza and they told me the payment is expected to clear in March, 2315!"

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Written by Kevin Leecaster on 2024-11-09 at 00:34

@firebreathingduck @cryptadamist @KeithDJohnson

The goal of Trump's backers is to bring down the USA so obviously they are going to start on trashing the economy as soon as they are able.

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Written by moggie on 2024-11-08 at 20:23

That's gonna get...interesting.

@cryptadamist @firebreathingduck @KeithDJohnson

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Written by ⚯ Michel de Cryptadamus ⚯ on 2024-11-08 at 20:31

@EverydayMoggie @firebreathingduck @KeithDJohnson people should stop worrying about trump ending elections and start worrying about elon and thiel intentionally collapsing the economy so as to destroy the welfare state (social security, medicare, etc).

thiel is well documented to be on board with this plan well before covid made him even weirder.

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Written by moggie on 2024-11-08 at 20:48

I'm sure they will try. I'm not so sure they won't also destroy themselves right along with everything else.

@cryptadamist @firebreathingduck @KeithDJohnson

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