TRUSTED CRYPTO MINERS: MAKING THE WORLD SAFE FOR MONEY LAUNDERING
NOBODY UNDERSTANDS CRYPTO — Per a poll from Future Majority & Change Research: “Voters have a broad but paper-thin understanding of cryptocurrency. Most say they have heard of cryptocurrency (87%) generally and Bitcoin (97%) specifically.
“However, three-quarters (76%) of voters say they do not know about or understand Blockchain technology, a significantly high share given that people generally report greater knowledge of a topic than they actually possess.” POLITICO’s Ben White morningmoney@email.politico.com
Because it is the same as all the CDOs & CMOs that were too complex to explain… IT IS CONTRIVED BULL SHIT FOR MONEY LAUNDERING, and to bet on in the stock market. But keep in mind, unbridled speculation is geometric high risk for the short term, with geometric high past teaches us anything, the shorts will prevail with a lot of people holding the bag.
From: “How We Got Swindled by Wall Street Godfathers, Greed & Financial Darwinism:”
“Section 10(b) of the 1934 Securities Exchange Act makes it “unlawful for any person…to use or employ, in connection with the purchase of sale of any security.., any manipulative or deceptive device or contrivance in contravention of such rules and regulations as the SEC may prescribe.” 15 U.S. C. sec.78j. Rule 10b-5, which implements this provision, forbids the use, “in connection with the purchase or sale of any security, “of any device, scheme, or artifice to defraud” or any other “act, practice, or course of business” that “operates…as a fraud or deceit.” 17 CFR sec. 240. 10b-5 (2000) One of Congress’ primary objectives in passing the act was “to insure honest securities markets and thereby promote investor confidence” after the market crash of 1929. United States v. O’Hagan, 521 U.S. C. 642, 658 (1997) Further Congress wanted “ ‘to substitute a philosophy of full disclosure for the philosophy of caveat emptor and thus achieve a high standard of business ethics in the securities industry.’ “
So far the SEC has not applied the concept of “deceptive device or…”
Until I had a one hour interview with the SRVP of the Cleveland Fed Bank the regulation discussed that follows was in the Fed Bank’s regulations, but afterward this was shifted to FINRA so it no longer had the rule of law behind it or the Fed Bank regulators obligated to enforce it:
“The Fed Bank Holding Company Supervisory Manual of about 1,500 pages stipulates: IM-2210-1. Communications with the Public About Collateralized Mortgage Obligations (CMOs) – (a) General Considerations, … (3) Safety Claims – A communication should not overstate the relative
safety … (5) Simplicity Claims – CMOs are complex securities and require full, fair and clear disclosure in order to be understood by the investor.
So here we are again, enmeshed in bull shit – this time not only contrived for fees but also to launder money. Blockchains contrived by trusted crypto miners – NO WAY.