iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,785 Blog Posts

When in Doubt, Look for Guidance in the Money Launderers

Sotheby’s owns an art index, which compiles repeat sales data for over 60,000 works of art, which is used to track the overall performance of the art world. While most normal people cannot fathom the idea of buying some paint on canvas for $200m, it’s important to know there are troglodytes out there who need stores of value and vessels to launder their hard earned stolen cash.


Sotheby’s Mei Moses Index, fuckery largess

This brings me to my next suggestion. Keep buying BTC and ETH, do so every month, until BTC is $100,000 and ETH is $2,500. The world hasn’t ever had an illicit money laundering vessel like cryptos, ever. Forget about art and wine and real estate. Why, you can digitally move $100m today via a series of crypto currencies, move it across national borders, all undetected by god fearing authorities, who are busy perusing Twitter for people to track and target.

If you’re wondering why I am bullish on ETH, this is the main driver for me — illicit movement of value.

I hope you’re enjoying your weekend.

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19 comments

  1. irma vep

    Dark.

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  2. CoinSpeak

    I don’t even know where to start. Sorry Fly, this is wrong on many levels.

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  3. roguewave

    Indeed, bought a pittance on the dip this / last AM.

    In the old days when the troops were marching toward your city; you had to grab what you could carry, leave your home, business and run with nothing but the clothes on your back and your life. Now you can take a bit more with you.

    A true game changer. Crypto, the hardest money in the history of the world. Harder than diamonds.
    A big chunk of artwork, collectables, real estate, precious metals… simply served to maintain purchasing power and delay tax.

    In the years ahead, crypto with eat all their lunches. Why have millions tied up in real estate when you can send a cool billion across the world in minutes, with a cut & paste.

    As we speak, the largest wealth transfer in the history of the world is occurring.
    For the 1st time ever, Joey bag-o-donuts can outflank Wall St & Silicon Valley.
    Stop dithering you blithering idiots. Take Fly’s advice. Time is very short!
    Soon your chance will be slip through your fingers like the fine sand of time.

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  4. purdy

    At a half $trillion in collective value, crypto it is not much threat to the powers that be. If/when it becomes a threat, it will be crushed. Power resides in those who control missiles, banks, and such …not works of art.

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    • acehood

      You’re missing the point. It will be an invaluable tool for said “powers”.

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      • purdy

        The powers that be are USD-based. But yes, it might be a tool that competing powers could use to fuck with our God-given right to have the world’s reserve currency. The only way the existing powers might want to use it (or even why they may have created it) is as a distraction – – a benign dollar-alternative outlet for those who were whining about how the dollar ought to once-again be tied to something finite.

        Anyway, can’t buy a pizza with crypto, the transaction costs are too high. Can’t buy an oil tanker full of oil with crypto without the US Navy taking it away from you. Our MICwarmongering is funded with funny money; if crypto ever grew to threaten that …well empires usually go down in bloody conflict, not in a pleasant transfer of power to some new group of technogeeks. Still, I don’t have a clue how it plays out. I have zero cryptos but in the midst of all this crypto excitement, I started back into PMs last week.

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        • roguewave

          You can buy a pizza with crypto. Companies offer debit cards. You convert crypto to currency as needed on your card and buy whatever you want. It’s as simple as switching money from your savings account to checking. Some offer % of crypto back on purchases.

          Some think the digital dollar is on the way, soon. But that will be like beer (BTC, etc) and near-beer (Digital USD).

          Rooting for pleasant transfer; betting on bloody conflict.

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  5. trumpmeister

    Pic of your crypto holding or I don’t believe it. Nobody who has any holding of BTC or ETH would be so ignorant as you, as demonstrated in this post. So many wrongs…

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    • narcist

      I am amused that stocks are perceived as relatively “safe” vis-a-vis crypto in 2020.

      Big tech to Harris is like Lockheed and Halliburton to Cheney. So much serious money still to be made.

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      • roguewave

        “I am amused that stocks are perceived as relatively “safe” vis-a-vis crypto in 2020.”

        Agreed!

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  6. narcist

    I was too young to be trading Nasdaq futures back in the late 90s, but now I get how easy it was to make millions back then.

    This time it’s much more obvious, and there’s real earnings in this bubble.

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  7. Dr. Fly

    I know this post would bring out all of the cryptofags. Illicit transfer of value. That is all.

    As for my crypto holdings, I have no desire to convince you of anything, other than the fact that they will trade higher.

    Good day

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  8. roguewave

    Degen traders can trade stocks 24/7
    https://www.youtube.com/watch?v=rIZ3Q_8Scuw

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