Something something too much credit debt great depression
this post was submitted on 24 Oct 2025
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What if some shit head convinced everyone in America that AI was the inescapable next big thing, and that anyone not throwing all their money at it was going to end up like people who thought the Internet was just a transient fad?
I had a landlord who personally knew the Johnson brothers when he was a child, and he rode their steam boat on the Raritan River. The landlord told me what wonderful people the brothers were because just before the Great Depression, they went around New Brunswick telling all the "right" families how to invest so that they could control the money in town. Then, they used that capital and the rest of the town's destitution to drive out all the minorities and undesirables.
This was one of the least racist or disturbing things I heard come from that man's mouth.
Oh wow, what a fucking shocker that this would happen a week after Peter Thiel got the green light to open the first U.S. Cryptobank and Dimon has been trying to spread the narrative that the economy is in danger at every fucking opportunity to anyone who will listen to him...
Anyway, the day Charlie Kirk was murdered Scott Bessent was questioned about why he wouldn't investigate JP Morgan bank records of transactions between Peter Thiel and Epstein.
Then Republicans in both the House and Senate blocked an attempt by Democrats to subpoena those records, but nobody even noticed bc everybody was paying attention to the assassination of the "martyr for free speech."
Still waiting on those files, but Dimon claims he'll release them as soon as he's subpoenaed... So just waiting on the day Republicans agree to subpoena him, or the day that anyone notices that Republicans are literally the only reason why he hasn't been suponead...
Oh and apparently Epstein was a Bitcoin investor, and took great interest in many of the same areas that Trump' Office of Science Technology and Policy (currently lead by Peter Thiel's former employee and protégé) also happens to be focusing attention...
Since forming an eponymous foundation in 2000, Epstein has found a role as science philanthropist, sharing his resources to beneficial, unlikely ends. His money has funded research related to quantum computing, genetics, artificial intelligence, and beyond. As a result, the 64-year-old tycoon holds court with A-list names from the academic community, like theoretical physicist Stephen Hawking, cosmologist and author Lawrence Krauss, or MIT’s quantum computing pioneer, Seth Lloyd.
The next financial collapse is gonna be titanic.
And thanks to the fact that they've now brought cryptocurrency into economic calculations, any financial crash will take down cryptocurrencies too. So the one thing that they kind of do actually have a use for, protecting financial assets from economic collapse, will be destroyed as well. Fantastic.
Everyone should probably just start investing in gold or something.
no
"Aaaannd- it's gone."
i should run a crypto scam
Ah yes, the key to decentralized currencies: banks.
Just my personal take: the thing about Bitcoin is not that the success is based on the soundness of crypto but instead it's based in the non-soundness of our debt and fiat-based currency. It's a sign of the times and a growing lack of faith in institutions.
From memory Bitcoin's second major surge (from circa $100 to circa $5000) around 2011 to 2013 was during massive influx of Chinese buyers and miners. They were not buying because they don't trust fiat-based currency or government debt / institutions - they were buying to hide their money from their govt for political reasons. They then move overseas and acces their 'hidden' funds.
In fact the biggest seizure of Bitcoin ever was a Chinese fraudster who had 61000 bitcoin (~$6.7b US), fled to the UK on fake documents and started buying property. She was just taken down recently.
Bitcoin's success to now is a lot of factors but I think the main ones are a 1) idiots with high risk tolerance or low technical understanding, 2) criminals using it to hide/transfer funds and bribes, 3) tax/govt evasion (eg Chinese as above), 4) fomo. Way way down the list would be 'people worried about fiat collapse'.
Chinese 'goddess of wealth' attested in worlds largest bitcoin seizure 2025/10/01: https://www.bbc.com/news/articles/cy0415kk3rzo
Ending the federal reserve has been Peter Thiel's wet dream for a very long time. It's also coincidentally become one he shares with Thomas Massie and Mike Lee.
Trump and all these rich fuckers are investing large sums of money in crypto. Depending on how big the next big financial collapse is, they might just all be willing to hop on board with Thiel and Massie and say fuck it. Who needs the federal reserve anyway? (Other than all the suckers who aren't part of club Oligarch, but who gives a fuck about them?)
That Papa John’s pizza is getting more expensive by the day
Got it, don't invest with JP Morgan.
Why are they doing this this is a seriously stupid idea. "Will need some collateral for this mortgage, but don't worry we're perfectly prepared to take this completely unregulated highly fluctuating pseudo currency". There's a reason steam stopped accepting cryptocurrency and it's because it's unworkable.
Dear jesus..
I see absolutely nothing wrong about this! I’m sure everything will turn out great!
What could possibly go wrong??? 😕
Place your bets. Who's getting an insane loan?
I would have so loved if Kaitlan Collins just batted her eyes at that skidmark Taco and asked if he could explain crypto for everyone there.
Laugh out FUCKING loud. That would have been quite something.
"That what he did -- well, you don’t know much about crypto,” Trump told Collins, “you know nothing about nothing. You’re fake news."
If only some intrepid reporter would ask follow-ups like that: "Hey, Donnie, with your big manly brain, could you please explain how blockchain works? I only have a lady-brain and need it dumbed down for me. How does it work?" Then points mic at him....
dint the crash with SBF teach them anything, dont invest in something as volatile as crypto.
Some penny stocks are more volatile than Bitcoin and Ethereum.
What could go wrong? 🤷♀️
JP Morgan tanks the price of bitcoin claims the collateral, then reverses the first trade.
It can only good happen.
It's all computer!