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Update (1028ET): Bloomberg reports Colonial Pipeline paid Eastern European hackers approximately $5 million in untraceable cryptocurrency last Friday, contradicting a WaPo report it had no plans to pay the ransom to unlock its paralyzed pipeline system.
The company said the ransom was paid hours after the attack. Once the ransom was paid, the hackers provided Colonial with a decrypting tool to restore its computer system that controlled the pipeline that carries 100 million gallons per day of gasoline, diesel, and jet fuel from Texas to New Jersey.
“O Zeus, why is it you have given men clear ways of testing whether gold is counterfeit but, when it comes to fiat money, it carries no stamp of nature for distinguishing bad from good.” ― Euripides & EvG
The Greek playwright Euripides’ (450 BC) statement on gold (slightly amended by me), tells us why it has remained money for 5,000 years.
Because gold is constant wealth and can’t be altered or forged successfully.
As regards distinguishing bad from good fiat money, bankers and central bankers have made that task both ridiculously and criminally easy for us all.
Because there is no good fiat money.
All fiat money is fake and produced at will with the press of a button by the culpable bankers.
Fiat money is today produced electronically which means at no cost. So it is obviously today not even worth the piece of paper it is written on.
Anything that can be produced in unlimited quantities at no cost can by definition not by worth more than ZERO.
“WE CANNOT IGNORE THE CONSEQUENCES OF IGNORING REALITY”.
Ayn Rand said that “we can ignore reality but not the consequences of reality”.
And reality is that just in this century over $200 trillion of debt or fake money has been produced in the world. That is 200% more than all the debt monies created ($100T) in history until year 2000. This sum obviously excludes promises and lies in the form of global unfunded liabilities, (medicare, social security, pensions etc) plus up to $2 quadrillion of derivatives which will end up worthless.
But few realise the consequences of the world’s insatiable need of fake money. The super bubble will inflate until it one day it totally implodes.
Kootenay Intercepts 2,176 gpt Silver Equivalent Over 1.18 Meters Within a Wider Interval of 399 gpt Silver Equivalent Over 10.5 Meters at Copalito Silver-Gold Project, Mexico
‘His mental and physical condition cannot be ignored’: More than 120 retired generals and admirals sign open letter questioning Biden’s mental health and backing election fraud claims
I see Bitcoin is down pretty good although still hovering close to $50K. Not really surprised Tesla isn’t taking it for vehicles, I imagine the Board thought it was too volatile.
Maybe they should start taking pm’s – real money. 🙂
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