Goldman Sachs’ June 2021 Digital Asset Thought Piece is a case in point.


Goldman wants to create chaos on both sides of arguments to hide their real position from the people they will steal from eventually. Goldman wants to appear as a BTC naysayer to slow adoption. They will dismiss cryptocurrencies as having no tangible value as discerned via traditional valuation methods. They know that BTC will be the key asset once the Fed releases its CBDC and stable coin. They are front running all their wealthy clients with their reports. They know implicitly what the shareholders of the Fed are up to. The US government, by way of the Fed is on an inexorable march to currency debasement. Hence, the world needs trusted alternatives like Bitcoin. They need to accumulate and custody as much BTC as they can. Eventually, they plan on stealing the BTC they custody just as the Chinese elder families had their gold stolen from them by the families who are the shareholders in the US Federal Reserve.

BlackRock/WEF/Vanguard is the same business entity representing its shareholders' interests. Look at their structure and you'll see their real purpose. See how the latter is the largest shareholder of the former. The families tied into them are the Rothschilds, the Bushes, the British Royal family, the Du Ponts, the Vanderbilts, and the Rockefellers.

Chinese BTC miners represent the Chinese elder families who had their gold stolen by the US Fed; understand the miners aren't CCP or Fed friendly. Begin to understand why the elder families want to replace their metallic gold with BTC and why the CCP is cracking down on miners. Goldman represents the old way the Octagon group stole money and today BlackRock and Vanguard are the new models of how they play monopoly. All of their assets will be used to steal value where value exists.

Exhibit one of their investor FUD: Goldman repeated and published the spurious argument that the 21 million cap on Bitcoin issuance isn’t relevant to its valuation metrics linked to Metcalfe network effect. The irony is how they explained it: “…since there are many cryptocurrencies" which are dilutive. This argument is a joke.
Bitcoin is a positive-sum game. The more people who join, the better and it works this way because of the Metcalfe effect of networks. See FB, google, or Netflix as answers to this FUD.

Exhibit two: Hardly a mention about DeFI. Guess why? DeFi is designed to put them out of business.

Exhibit three: If you read the creature of Jekyll Island you'd know that the global elites behind the Fed have had a 150-year goal of getting rid of gold as an asset class. Largely they have limited gold's effect in the last 50 years. Goldman for 25 yrs has repeated this phrase in marketing to its wealthy clients. They always try to keep them out of the gold market to make stealing from them easier when they are in the bond and equity market. These markets are Goldman's playground of expertise. They know how to steal gold. They learned the lesson well from 1913- 1933 when systematically the gold of Chinese elder families was borrowed to start the Fed, and when WW2 built the best military on Earth, the gold was confiscated from the US taxpayer first and them the gold market was manipulated by all central banks to make sure investors would funnel their money into investments that were riskier and easier to steal via legislation of confiscation. I believe BTC confiscation will be the last way the game will be played in the US.

Goldman has never believed and still doesn’t believe today that gold is an investable asset class either. Why is this important for the BTC investor to understand? Simple, it cuts out the store of Value argument to their clients. The more they can get wealthy people to believe this narrative the harder it will be for them to make the cognitive leap from gold to BTC. In essence, their playbook is very WEF/BlackRock/Central Banker-like. So claiming that Bitcoin is “digital gold” doesn’t confer any value to Bitcoin, in their eyes. This is why gold is taxed at the rate it is taxed at. The CB are trying to limit it as a SoV or a medium of exchange. They will attempt to do the same to BTC via confiscation, regulation, taxation, and legislation.

What Goldman never says is a BTC reality:
Over time, BTC is a machine for generating market capitalization in an algorithmic way. Every two weeks (2,016 blocks), the network undergoes an automatic difficulty adjustment to ensure that new blocks are being generated by miners every 10 minutes on average. Every four years (210,000 blocks), the number of new coins generated for each new block gets cut in half, resulting in a supply shock. This is how it destroys monetary inflation. And money inflation is the # 1 way central and investment bankers steal money from taxpayers and their clients.
Determining whether bitcoin is a good place to allocate capital to or not, ultimately depends on an investor’s assessment of its network effect.

The essence of the powerful mind lies not in what it thinks, but in how it thinks.


Exhibit four: Goldman will always push centralized cryptocurrencies because they can be used to steal taxpayer value. They will always tell you the real reason BTC had some value is that the idea of Blockchain is good but because BTC is slow compared to conventional fiat rails it fails to deliver. It rarely mentions layer two solutions on BTC that solve this. It will never let you know that all DeFi is likely going to end up on the BTC blockchain. The last Treasury secretary is a former Goldman banker. He hated BTC. maybe you can see why he did. Goldman stated purpose for the last decade is that Bitcoin is too volatile to be a medium of exchange. Because it is volatile, as their marketing story goes, it also precludes Bitcoin from being a unit of measurement for pricing goods in global trade like crude oil. This is false. The 60/40 equity bond portfolios Goldman has sold to its high net worth clients have the same volatility that BTC has without the monetary return. Goldman will never admit this to anyone. The math below backs this idea up.


Here is the shocking fact about volatility Goldman won't tell anyone. Everyone believes BTC is fundamentally volatile, so they use this narrative to create FUD around volitilty. But what do the data say?

The reality is that Bitcoin volatility is not that bad. Since 2010, the Sharpe ratio of Bitcoin (1.24) is a tick under the Sharpe ratio of a simple 60/40 portfolio (1.25). But #BTC 255.6% compound annual growth rate (CAGR) return crushes 60/40 portfolio of 10.3%.

255.6% CAGR vs 10.3% This math shows you it is not a contest. Goldman and its friends are banking on our stupidity.


When do institutions wake up how much cash they have lost already for the same amount of risk? ? Imagine if they knew. Are you glad you do?


If “Bitcoin is too volatile.” then “Fire is too hot.” The Wisdom: Learn to use new technology like BTC real quick folks to protect your SoV because Goldman is going to screw you over with their friends at the Federal Reserve.

A great thing about financial freedom via an increasing financial IQ: You no longer have to tolerate people who don’t respect you. Life is too short to argue with people who don’t even care about you. Spend it with people you love. Spend it doing what you love.

Exhibit five: Why is Goldman pushing these investments to their wealthy clients?



All of them are centralized and will be easily controlled by central bankers with laws, regulations, taxation and confiscation mechanisms.

They limit the discussion to six blockchains and never give you a reason why they do so.

"The smart way to keep people passive and obedient is to strictly limit the spectrum of acceptable opinion, but allow very lively debate within that spectrum"

Exhibit six: Goldman will always say: “We do not believe that cryptocurrencies are a strategic asset class that adds value to our clients’ portfolios”.



Goldman’s “robust optimization model" is how they limit investors' discussion or thinking to a topic they can control to drive the investor to narratives and investment vehicles they deem OK. How do they do it?

They tell clients that Bitcoin is not an investable asset, as it does not meet at least three of the five criteria they have set for you:

1. Generate steady, reliable cash flow on a contractual basis, like bonds
2. Generate earnings through exposure to economic growth, like equities
3. Provide consistent and reliable diversification benefits to a portfolio
4. Dampen volatility
5. Provide consistent and reliable evidence of hedging inflation or deflation as a store of value

Bitcoin does all of these things because as an asset class it has returned 230% per year for 12 years. Nothing Goldman sells today can compete with that number. Moreover, Goldman conflates issues to suit their goals and the goals of their masters at the BIS, Octagon, and the Fed. Why? They say, “Bitcoin has not behaved like gold” given its low correlation. Therefore it can’t be digital gold/a store of value. Goldman purposefully misses the fact that it has performed FAR better than gold in terms of “storing value.” They never mention this because they know their clients do not do their own homework. Their clients rely on them to do the homework. The reason is simple. The Fed and CB have wanted to get rid of gold as competition for assets that can be manipulated by the central bank. Goldman is a foot soldier in committing this financial tyranny on US taxpayers since they became a bank.

Exhibit 7: They use the logic they laid out above in slick marketing ads and mailings to say, "since it can’t be valued, cryptocurrency is an asset whose appreciation is primarily dependent on whether someone else is willing to pay a higher price for it. FOMO is not a reason to invest. This once again blocks the taxpayer from buying Central Bank protection and keeps the client's money at risk in the market for a future rug pull.

Exhibit 8: They tell clients that the S&P 500 has generated positive total returns 97% of the time over rolling 10-year periods in the post-WWII period. They never compare BTC's annual returns to the S&P 500 nor will they denominate the total return of the S&P 500 to BTC because if they did their clients would see that since 2008 they have lost money in the stock market because of parallel debasement of fiat money by the central bank.

Exhibit 9: Remember Steve Mnuchin? He is the last Treasury secretary and former Goldman partner. Guess what he hated BTC? It is a risk to the global USD hegemony he feasted off of. Goldman was bailed out by the government in 2008 and Steve was part of that bailout via Robert Rubin and Tim Geithner's actions.
Goldman has stated in their slick marketing that the crypto market will inevitably have a credit crisis ala 2008, and the absence of a lender of last resort makes it unclear whether and how recovery would be orchestrated. This is a freaking joke because BTC is 100% decentralized and cannot be controlled to cause a credit crisis to begin with. This is why it is a vaccine for Fed policy. Fiat marketing is legalized lying.



Steven Terner Mnuchin was the 77th treasury head. How much do you know about him?
Upon graduating from Yale University in 1985, Mnuchin joined the investment bank Goldman Sachs where his father, Robert Mnuchin, was a general partner. Mnuchin worked at Goldman Sachs for 17 years, eventually becoming its chief information officer. After he left Goldman Sachs in 2002, he worked for and founded several hedge funds. Mnuchin was a member of Sears Holdings's Board of Directors from 2005 until December 2016. Under his board guidance, Sears went bankrupt. Assets were stolen legally. Moreover, prior to this event, Mnuchin served on Kmart's Board of Directors too. After Sears went bankrupt, the company that formerly owned it sued Mnuchin and ex-CEO Eddie Lampert for "asset stripping" during their tenure. Here they legally stole assets from taxpayers. It gets better. After stealing the assets he decided to buy companies for pennies on the dollar and then sell them bank into central banks to launder the money legally. During the financial crisis of 2007–2008, Mnuchin bought failed residential lender IndyMac. He changed the name to OneWest Bank and rebuilt the bank legally, then sold it to CIT Group in 2015. Guess how you launder money after the Big bank bailout? Follow the trail here:
https://en.wikipedia.org/wiki/CIT_Group

Merrill Lynch's former CEO is named CEO and scrubs the ashes and eventually sells it to Mnuchin. Mnuchin quickly packages it and rebrands it as OneWest.

During his time as OneWest CEO and Chairman, the bank became embroiled in several lawsuits over questionable foreclosures.

At the end of the day, what Goldman amazingly misses is that all money is all a confidence game. And confidence in the Fed and central banks around the world is waning. Fiat is debasing and BTC has been on a steady rise for 12 years.

Investors will seek a store of value as inflation goes up. With inflation, $1 today will be worth less tomorrow. Having an instrument to preserve the value of your dollar is important for wealth preservation. Gold is the traditional store of value, but there are limitations. In physical form, gold is illiquid & cumbersome to store. In financial form, gold suffers from third-party risk. There will be an appetite for a new store of value. One that is trustless & doesn't rely on anyone person or institution. One that is built for the digital age we live in. Bitcoin has the best chance of being that new store of value. It has reached a critical mass of trust. Trust—not intrinsic value—will determine the next store of value. And Bitcoin has a head start in achieving narrative-driven value.

https://twitter.com/businessbarista/status/1402365844223672321/photo/1



Goldman remains locked into looking in the rearview mirror to see where we’re going and fails to recognize the seismic changes underway. We are being ruled and abused by central bankers folks.
The Declaration of Independence says, “It is the right of the people to alter or abolish” a government deemed to be abusive by the governed. We are getting closer to that reality. I see a legal case developing now right here in this thread.

Rules without rulers apply to rulers as well

Sooner or later, they'll be forced to comply......if many of us buy BTC

Not the other way around.
The real solution is to alter the logic of the financial tyranny by government and bankers by building systems that destroy its ROI. That is what BTC does.


Exhibit 10: Goldman and the CB will always push the energy ESG FUD. Why? They all are in close quarters with the WEF in Davos. Look it up. Goldman Sachs is a card carrying member of the WEF. What do they believe?
Goldman Sachs partners have a fiduciary duty to their clients to explain to their new clients why businesses can no longer operate in a vacuum when it comes to the climate: They tell investors and CEO of companies that “Even financial winners have to breathe the air. They’ll have to drink water.” If the company bucks this idea (think ELON MUSK) the central bankers and Treasury will react.
https://www.weforum.org/organizations/the-goldman-sachs-group-inc



For more on the ESG energy FUD story look here: ESG is a WEF narrative that is financial tyranny to any country that employs it. Goldman Sachs is a banker who pushed this tyranny to companies like Tesla who rely on government funding for research. This is how the game of coercion operates right in front of your eyes.
https://forum.jackkruse.com/index.p...-fud-esg-argument-is-pseudoscience-wef.25992/

 

For a challenger in any asset class to continue to advance then, it must continue to offer more advantages than the copycats while staying under the radar from the monopoly for enough time to gain enough scale or gain “network effects” before the monopoly takes notice. The best way to do this is not by competing on everything that a monopoly competes on, but instead, picking a very small part of a market that goes relatively unnoticed by the monopoly and providing the 10x advantage to only that.

Google, starting at only search as their first market (when there was no money in providing search) as a start-up versus all of its competitors at the time provides a good example. First competing narrowly (only free search) against every other search website, which was selling advertising at the time was something that was underappreciated by the monopolies. With the market (individuals) moving quickly to Google for all things search, it was easier to add functionality (because the users were already there) to compete with broader platforms like Microsoft.

Therefore, winning a narrow part of the market first (10x advantage) created a path to do everything else. From Amazon’s start in only books to Tesla starting at the Roadster, if you examine the path of almost every new company that breaks through monopoly power, they follow a similar path. The reason this path goes unnoticed is that by the time the innovation and path are “recognized” by the broader community, it is too late. It has successfully disrupted the monopoly and people forget what it looked like in the beginning. Right now in this moment in time the fiat world is awakening to its creative destructive events. They are unfolding right now.

This is a useful analogy when looking at Bitcoin’s evolution from where it was when Satoshi launched the genesis block to where Bitcoin might go in the future. By designing Bitcoin as the first “decentralized, non-trust-based” system and designing a fixed scarcity of 21 million Bitcoins into the protocol, Bitcoin removed the need for a trusted intermediary, and at the same time created “digital” scarcity.

Bitcoin’s first use case could then be viewed as more of a store of value than a currency since for it to compete as a currency, it would need to be able to be used widely in society. In other words, Bitcoin’s narrow 10x advantage could be compared to gold first rather than as a competitor to money.

It is rather fascinating to watch human psychology as Bitcoin emerges because while dismissing Bitcoin outright as a store of value, many of the same market participants faithfully believe in the absolute value of a yellow-colored rock, or a piece of paper with faces and names on it (that they know is being actively manipulated).

Exponentially advancing technological gains bring efficiency. That efficiency is deflationary. Moving exponentially and into all industries which means prices should be falling on almost everything.

The reason prices are not falling is that advancing technological progress is incompatible with the existing monetary system which requires inflation to remain viable. That existing system is being manipulated so it appears viable and pushes prices up as a result.

Which sets up a conflict to be resolved at a system level.

1. Exponentially increasing efficiency driven by technological progress requires a currency that allows for Deflation (the challenger).
2. The existing fiat monetary system (the monopoly) requires inflation and consequently, it needs manipulation to remain viable.

The reason that many people don’t see it or truly understand its implications is similar to any breakthrough in technology. They are trapped within an existing framework (the monopoly) and use that framework to measure all interactions.

 

The 90% follow the status quo, they play it safe. In this case, they keep their wealth in fiat and wait for the Fed. Given that 90% of people do this, this path is incredibly competitive. Only the most outstanding wealth creators stand out in a fiat world debasing.

On the other hand, you have the 10%. The 10% path is more risky, audacious, and has a higher chance of failure. As a result, not many people choose this BTC path. However, if you can make it work, you are in a league of your own when it comes to wealth creation.

The existing fiat system (the monopoly):

1. Must create inflation. Without it, deflation takes hold and wipes out credit and because the system is based on credit, wealth is destroyed. The chance for policy change that could have prevented a complete reset to the existing fiat system was about 20 years ago and would have required an understanding of how fast technology was moving and what it meant for the inflationary fiat monetary system. Instead, policy makers made the same mistake most people do when looking at technology. They underestimated its exponential impact. This quote by Nobel Laureate Economist Paul Krugman in 1998 sums up the thinking at the time — “By 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.” As a result, the monopoly fiat system manipulated interest rates lower to increase growth — and almost every year, taken lower again as predictions of growth came up short against the reality of technological progress on the market. This became a global phenomenon.

I quickly pivoted to the 10% approach converting fiat to BTC on my own balance sheet. Then the effects of seeing a new life began to manifest in reality. It was as if a new life sprung right before my eyes.

Be proactive and be flexible and embrace the suck of decentralization. It turns out playing by the paradigms centralized rules are the hardest way to win. Adapting to a new BTC world was the nudge I needed.

What the European central banks want.........

The @ECB coin

- easily reverse transactions
- easily hacked
- centralized
- unlimited inflation
- easily censored
- coercive
- surveillance tech
- easily confiscated

BTC - has none of the above as qualities

 

Bitcoin is giving us a "world of possibilities" a new reality, a new way of looking at everything and way more flexibility in our thinking and actions.

We are embracing the suck ....and loving every second!

 

Lynette Zang from ITM Trading and Daniela Cambone of Stansberry research sat down to speak about hyper-inflation and Zang dropped the bomb Friday that

• Hyper-inflation is being acknowledged by a big bank now
• The Fed is between a rock and a hard-place – their only option is to continue to print money. And the introduction of a Fed-controlled digital currency – aka "Programmable Money" – would exponentially increase their control and power over consumer behavior to our detriment.

We’re now seeing commodities inflation roll over… That’s great news for America’s manufactures. What we are seeing in its place, however, is rental inflation going through the roof. That very problematic because that is what we call sticky inflation and cannot and should not be called transitory.

 

Soon If investors, lawyers, government regulators, and Supreme Court Justices don't learn to code the taxpayer will be at the mercy of those who can. That is the game the Fed, CCP, healthcare companies, and bankers are playing with your life.

 

The Fed does not want the public to have options that allow them to opt-out of fiat slavery by legalized counterfeiting. Guess why? The banker's loose control of their slaves. https://www.cnbc.com/video/2021/06/21/why-this-expert-says-the-sec-should-approve-a-bitcoin-etf.html

 

I have a lovely story this morning. We were talking to an acquaintance at the beach at sunrise. I was half listening to CH. My friend apologised for interrupting what we were listening to and I said - it's okay, it is Clubhouse and will go on for hours. She asked what I was listening to and I said ...stuff about crypto/bitcoin.

She had the biggest smile on her face and said her 15yo grandson has been buying bitcoin with any extra money he can scrounge or make! Since he was a very little kid he has been an entrepreneur of one kind or another. He fishes and then sells them, he has made and sold [for $1.00] hundreds of necklaces from the shells where he lives, he has been interviewed on the local radio station etc. etc.

She will give me this young man's phone # and I will invite him to CH and make sure he listens to Michael Saylor and go to HOPE.com. and jackkruse.com

Of course we wound up talking about the three legged stool. Her DH is partially paralysed and she was going home to put him in the sun.

She knows all this stuff intuitively.

It was a great morning at the ocean [even tho bitcoin is in the dumper!] perfect time to buy more!

 

https://www.slideshare.net/ernestrauthschild/rauthschilds-royal-dragon-family

 

July 2021 status update: Let's say Bitcoin gets as big as everyone believes it will. People across the globe own it, businesses have it on their balance sheet, nations hold it as a reserve asset. Do you really think that market makers would *not* be accumulating as much as possible?


The market makers and bankers also don't like that early investors have so many coins, and they don't. They are desperate to shake early adopter whales of their coins and will try however to get them to sell into fiat. Remember the market is not even $2 trillion which is tiny compared to stocks. This is why in July 2021 BTC has dropped from 65K to 30K. The investment banks are building their positions.

They will play dirty games and tricks to get your coins cheap. They are not dumb. They also see the trends that we see in adoption and growth. They know the youth prefers internet money. They know there is no 'crypto' money printer. They desperately want and need you to sell so they can buy them. That is what Glassnode shows now. The banks and market makers are buying. You need to buying now too.

There is a reason adoption is growing while BTC price is dropping. Market makers are shaking the weak hands out. There is a reason so many powerful players are getting into the game. What happens when the first country *openly* announces they hold BTC as a reserve asset? All this isn't going on because BTC is dying as the media is saying.

When the time comes, prices always reflect the value and utility of a technology. This is economics, geopolitics, money, finance, and more all wrapped into one. If you understand what is happening, you cannot be anything but ecstatic with all the amazing developments happening.

 

I am really proud of myself .....I haven't looked at the price of BTC in 4 days.

We are HODLING .....I will look in 3 years ....

At our stage of life we are really happy with what we achieved. We really surprised ourselves with what we could do when we put our mind to it.

Could we do more - probably ...but we also need to live our life before it is too late.

We are okay with that......

 

OZ: In case it's not obvious to you yet, they're trying to rope you into a global dictatorship to make you a slave of their Court characterized by an endless cycle of human rights restrictions from which you can be released only by waiting for and accepting their latest vaccine or emergency the WEF crafts, thus ratifying the restrictions. Don't be fooled by the False Kings.

 

It is definitely obvious....we are being backed into a corner and our only escape route is paved with bitcoin.

I guess I better give myself a good shake.....

I was at the hairdressers this afternoon. She is a lovely woman - she made the comment that unless everyone gets the jab we won't be getting out of this mess.

I guess I better learn to cut my own hair ...

 

In the last two weeks Golman Sachs and JPMorgan released papers to the media bad mouthing BTC without mentioning the Lightning Network. This was not an oversight or a junior intern error. It was by design.

 

Do you think that the bankers are not front-running retail investors? This is why the price is being artificially held down with CCP mining FUD
An investment firm owned by billionaire J. Christopher Flowers now owns a 30% stake in Bitcoin exchange LMAX. He was one of the youngest Goldman Sachs partners in history.

 

Still, think the Rothschild banks won't do all they can to slow BTC adoption? https://cointelegraph.com/news/uk-fca-will-spend-11m-to-warn-people-about-investing-in-crypto

 

NEW SPIKE LEE COMMERCIAL IS EXCELLENT: First look at Spike Lee's Bitcoin commercial “Old money is not going to pick us up – it pushes us down, exploits, and systematically oppresses. The digital rebellion is here. Old money is OUT, new money is IN."

Do not let the banks front run you.
https://cointelegraph.com/news/firs...pto-touts-it-as-new-money-for-a-diverse-world

 

COVID WAS A COMPLIANCE TEST FOR THE COMING ECONOMIC RESET: "Why did the WHO make recommendations contrary to established medical practice?…Start at the beginning and question everything: lockdowns, asymptomatic transmission, mask mandates, claims about short-lived immunity, and variants."
https://www.theepochtimes.com/question-everything_3892808.html

 

Bonds are the worse asset to be in now. Read what Dalio, Jones, Druckenmiller have said about bonds. They have said you have to be ignorant to own bonds and BTC is a wise choice for asset allocation. Now we have WEF member Jeff Gundlach who is now doing work with 3 investment banks and shills daily on CNBC and Fox business news saying you need to avoid BTC. He is making the case that equities on a relative basis are cheaper than bonds due to QE and interest rates. This idea shows you how warped Wall Street is now.
Gundlach was formerly the head of the $9.3 billion TCW Total Return Bond Fund, where he finished in the top 2% of all funds invested in intermediate-term bonds for the 10 years that ended prior to his departure. He was fired by TCW in 2009. Guess what he says now? https://www.cnbc.com/2021/07/15/gun...-pretty-scary-here-and-he-wouldnt-own-it.html

 

COVID WAS A COMPLIANCE TEST FOR THE COMING ECONOMIC RESET: "Why did the WHO make recommendations contrary to established medical practice?…Start at the beginning and question everything: lockdowns, asymptomatic transmission, mask mandates, claims about short-lived immunity, and variants."
https://www.theepochtimes.com/question-everything_3892808.html