The Athens DAO

An Investment/Social DAO focused on a multi-disciplinary approach to markets, economic models, and trading algorithms. #bitcoin

[The Athens DAO @TheAthensDAO]

1/ Here's a quick summary of some of our recent market activity:
#🚥#btc-stoplight signaled a “Red Light” State on 11/18/2021 at $56,879

#🚀btc-algo-v2 signaled a “Close Long BTC” on 11/18/21 at $57,562

#⚡️btc-swing signaled a “Close Long BTC” on 11/15/21 at $63,612

[The Athens DAO @TheAthensDAO]

BTC Stoplight is now red

[The Athens DAO @TheAthensDAO]

BTC Stoplight - Green light

BTC swing - enter long position

Expecting a run to $32-35k before a 30% dip in the next few weeks to months.

#bitcoin

[The Athens DAO @TheAthensDAO]

We hit our targets on this signal.

BTC swing - close long (issued yesterday)

BTC Stoplight is still green

#bitcoin

[ZachXBT @zachxbt]

When stolen funds go to a crypto exchange people like to assume that there is a real person with a real identity tied to an account

To disprove this I was able to create an account on @gate_io and KYC as “Kim Jong-Un” with the email “notlazarus” and within minutes I was verified

[Naval @naval]

Every generation has to learn the lesson of inflation firsthand.

[Erik Voorhees @ErikVoorhees]

Gov regulates food; population is grossly unhealthy

Gov regulates healthcare; costs skyrocket

Gov regulates drugs; fentanyl epidemic

Gov regulates money; runaway debt and high inflation

Let’s have them regulate AI so we can truly fuck ourselves

[The Kobeissi Letter @KobeissiLetter]

Largest Layoffs of 2023, So far:

1. Amazon: 27,000 employees
2. Google: 12,000 employees
3. Meta: 10,000 employees
4. Microsoft: 10,000 employees
5. Goldman Sachs: 3,200 employees
6. Coinbase: 25% of employees
7. Zoom: 15% of employees
8. Glassdoor: 15% of employees
9. Twilio: 15% of employees
10. Indeed: 15% of employees
11. LendingClub: 14% of employees
12. Vimeo: 11% of employees
13. Docusign: 10% of employees
14. Salesforce: 10% of employees
15. Gemini: 10% of employees

This week, McDonald's shut its corporate offices as they prepare to cut "hundreds" of employees.

At technology companies alone, we have see 330,000 people laid off over the last year.

Layoffs are spreading well beyond tech now.

[Joe Carlasare @JoeCarlasare]

The average daily trading volume of various assets:

1. Gold: $183 billion
2. U.S. Treasuries: $700 billion
3. U.S. equities $170 billion
4. Bitcoin: $21 billion

5. Global forex: $6.6 trillion

[Balaji @balajis]

Why did central banks buy record amounts of gold in 2022? https://t.co/c1EEEizpoz

[zerohedge @zerohedge]

wait until she hears about the dollar

[nic carter @nic_carter]

This is baffling. According to NYDIG, as of Jan. 2021, 22% of US adults own some form of crypto. How is this a winning issue?

[Simon Dixon @SimonDixonTwitt]

There are 2 parts to Operation Chokepoint 2.0 | A Crypto Banking Conspiracy & a global co-ordinated move away from $USD | Most are only covering one half of the story. I’ll share more on #BitcoinHardTalk Episode 9 tomorrow. Subscribe for notifications https://t.co/Lm62rQhPVy

[The Athens DAO @TheAthensDAO]

@GoingParabolic 5

[Balaji @balajis]

"History...tells us investors tend to flock into dollar-denominated assets during times of stress"

No, take a longer historical lens.
People exit devaluing currencies.
That's the key difference vs 2008.
USD is no longer too big to fail.
Hope what comes next is BTC, and not RMB.

[The Athens DAO @TheAthensDAO]

@greenpeaceusa That art is fantastic!

Maybe we can use an image of the skull on a t-shirt to represent the death of Greenpeace's reputation.

#Bitcoin

[Alex Gladstein 🌋 ⚡ @gladstein]

1) Bitcoin’s moment is just beginning

2) BTC is 50%+ renewable, moving this way by 6% per year, and will capture a ton of emissions

3) BTC is not moving to Proof-of-Stake

4) Zero mention of how BTC helps millions of disenfranchised worldwide

5) Embarrassing for @TheAtlantic

[Nayib Bukele @nayibbukele]

Next week, I’ll be sending a bill to congress to eliminate all taxes (income, property, capital gains and import tariffs) on technology innovations, such as software programming, coding, apps and AI development; as well as computing and communications hardware manufacturing.

[The Athens DAO @TheAthensDAO]

@balajis That's the plan. Puerto Rico is the intermediate step.

[Balaji @balajis]

PRINT TRILLIONS WHILE HIKING RATES

The Fed now has “high rates” like SF has “low crime rates”. It says it does, but it doesn’t.

Because you have to be pretty naive to think today’s rate hike means the Fed is still “fighting inflation”. You can see it in the graphs — the printing is already vertical[1,2], and trillions in new money is available for both domestic[3,4] and foreign[5] banks. Yet the Fed continues hiking rates to fool low information voters into thinking the last two weeks were just an isolated series of multi-hundred-billion dollar bank failures, and that their policy is unchanged. Nothing to worry about, the Western banking system is resilient, and it’s normal to have banks die at the rate of five in ten days![10]

Because that’s actually all this state does: it fakes the rates.

Remember when SF claimed officially low crime rates[6] even as criminals robbed stores in broad daylight[7]? Remember when FDA prevented labs from testing so we all underestimated the COVID infection rate[8], till old people in New York started dropping dead? And remember when the Fed claimed the inflation rate wouldn't be a problem[9] before anyone buying groceries found out it was an emergency?

The American state fakes the rates.

And that’s what’s happening with today’s “hike”. After killing five of their own banks[10], catalyzing a series of bank runs[11], and realizing the public now knew they’d made hundreds more banks insolvent[12,13], the Fed rolled out programs over the last two weeks that broke the normal relationship between “hiking rates” and “tightening monetary policy”.

All the losses the Fed rate hikes cause for domestic banks?
They’re printing money to cover it.[14]
All the losses they cause for foreign banks?
Printing money to cover that too.[15]
And the losses they cause for depositors?
Naturally, more printed money![16]

So now the banks don’t publicly die from bank runs. Instead, even as this rate hike keeps pushing bank stocks further into the ground[17], and banks further into insolvency[18], the banks know they can just get more printed money (eg at the discount window[19] for BTFP) to cover their losses. That’s what BTFP, the swap lines, and the effective “FedDIC” policy mean: infinite money.

And this infinite money is no longer abstract. It’s printed dollars that individuals touch directly when they wire their money out of banks they fear may collapse, which is happening everywhere from community banks[20] to Credit Suisse[21]. The money printer is now connected directly to your checking account. And in the digital era, the bank runs are of a historical scale.[22]

Remember also: the BTFP, swap lines, and FedDIC measures are *so enormous* that the Fed is doing them over weekends[23] with all the other central banks[24], and publishing multiple joint statements[25,26] assuring people that the “system is resilient”, even as Moody’s has downgraded the US banking system as a whole[27].

One of the things I hate about this system is that it’s evolved to be opaque, like a snake that’s evolved camouflage. If the Fed came outright and *said* they were digitally devaluing the dollar by printing trillions, that they were monetizing the debt as Dalio predicted[31] and even getting bondholders to abet the devaluation, everyone would flee for the Bitcoin exit. So instead they lie, to themselves and to others, just as Jean-Claude Juncker recommended[32]. As with CDOs[33] in 2008, the point is to fool themselves and to fool you.

But you have to see through the camouflage. They’re printing trillions[34,35] even as they’re hiking rates. Indeed, they’re printing trillions to compensate for the *consequences* of hiking rates. There will of course be other consequences to printing trillions. You can wait to find out, or you can get into Bitcoin now.

5 figures and 35 citations follow. 👇

[olaf @zxocw]

interestingly a *core* pillar of the entire banking crisis is a simple accounting trick where held-to-maturity (HTM) debt is not marked based on the liquid trading price, and is instead held on the books as if it hasn’t lost value

this basic trick is hiding billions in losses

[Azad Islam @pr_simondixon]

Spread the word