Here’s my latest for Foreign Policy! I thought crypto was finally dying off. But just when I thought I was out, they pull me back in. [Foreign Policy]
The headline was the brief — and well done to Haliey Welch for stealing bitcoin’s thunder. I also swing by our good friends at Tether to explain how the price of bitcoin is pumped. Plus our other favourite colourful racing identity, Justin Sun. And the bloody asinine US bitcoin reserve idea.
If you write for Foreign Policy, you should include a policy recommendation, because quite a lot of the subscriber base are civil servants — the bureaucrats who do the actual work to run things. In this case I could only say “lol sorry guys, you’re screwed.”
$5-and-up patrons got this story on Sunday 8 December. [Patreon]
Martin Walker linked me today to this IMF paper on the Albanian pyramid schemes of the 1990s. This is the US kleptokakistocracy of the next four years. Crypto is the least of the US’s economic worries. [IMF, 1999, PDF]
