Investing in things that aren’t real is really bad news for the World.
It leads to disaster.
Example, so what the f*ck is this NFT thing?
NFTs hit the mainstream in 2017 with CryptoKitties, a digital game that allowed people to buy and "breed" virtual cats with crypto. So naturally, nerdy video game developers went berserk over NFTs.
NFTs enabled gamers to win in-game animations like digital shields, swords, or chariots. Then transfer these cartoon trinkets from one game to another, and sell these in-game NFTs in blockchain marketplaces—sometimes for impressive sums.
Then NFTs found their way into the art world, hyped by celebrities who didn't know much about crypto. For example, Lindsay Lohan made her own NFT based on an image of her face.
Hours after she put her NFT (face) up for sale, she tweeted, "Bitcoin is the future," even though her NFT lived on Ethereum. First, Lohan sold the image for over $17,000. Then it was quickly resold for $57,000.
But it gets much, much worse.
In December 2020, Twitter founder Jack Dorsey created a non-fungible token (NFT) from his first-ever Twitter post. He turned a static image of his five-word tweet into a digital file; voila, his NFT was born. This sold for $2.9 million.
Twitter co-founder Jack Dorsey created an NFT from his first-ever tweet, which sold for $2.9 million. In an auction a year later, the highest bid was $280
NFTs raise money for suspicious projects that end in monstrous failures or sudden "rug pulls," where anonymous founders make off with everyone's money.
- For example, The Evolved Apes NFT project raised millions to allegedly develop a video game, while the founding developer "Evil Ape" disappeared with $2.7 million.
- Big Daddy Ape Club's creators stole $1.3 million worth of tokens on Solana.
- Blockverse, a Minecraft NFT project, sold out 10,000 NFTs in a few minutes before its creators disappeared with over $1.2 million worth of tokens.
Former President Donald Trump's NFT (digital trading card collection) sold out early Friday, Dec 16th, the day after its release. Trump sold 45,000 NFTs at $99 each.
That means he raked in $4.45 million. Roughly 1,000 of these sold for six times the asking. One card showing Trump standing in front of the Statue of Liberty (holding a torch) is currently listed at $24,000.
NFT / crypto tokens are the sickest form of speculation, mania, and a financial scam built around non-transparent technology and phony populism.
It's a scam based on Ponzi payouts fueled by cult-like recruiting. It's a pyramid scheme.
So NFT is like crypto in general. If you sell your NFT and profit in dollars, it's only because someone else bought it at a higher price than you did. And then they expect to do the same, and so on ad infinitum.
Every dollar that comes out of NFT crypto schemes needs to come from a later investor putting a dollar in.
So, to presume NFT or crypto investments function as a store of value, we must suppose an infinite chain of greater fools who keep buying these assets at any irrational price and into the future forever.
This is where these financial instruments leave the realm of reason and enter the cult-like world of MLMs and quasi-religious movements.
As we know from the history of other popular delusions, they are usually based on the madness of crowds and cannot sustain themselves. Instead, NFTs and crypto are games of musical chairs where participants gamble on timing the market, hoping to be kept from holding the bag when the music stops.
After the meltdown of Celsius and Sam Bankman-Fried's FTX, these scams are the last thing we need.
Just last week Mark Zuckerberg went to Capitol Hill begging lawmakers not to regulate crypto too harshly just because of all the fraud.
Zuckerberg said, "Congress should let the NFT-powered Metaverse flourish because it will add $3 trillion to global GDP by 2031."
Keep this in mind: Facebook bet billions recently on building this Metaverse and lost half a trillion dollars this year.
The US Economy is Circling the Drain and Will Collapse before 2030.
Remember how often I report on these themes.
US does not make steel in Pittsburgh, tires in Akron, Detroit car sales are buried by Hyundai’s in S. Korea, Toyota/Hondas in Japan. US auto sector is down 80% in Global market share in just a few short decades.
So instead of Steel, Tires, Bricks, Aluminum, Fertilizer, and other commodities what is soaring instead. Before you answer remember US has a trade deficit meaning we import more than we export which is PATHETIC and a SIGNAL THAT USA WILL COLLAPSE SOONER THAN LATER
So instead of making real things like steel, cars and manufacturing.
The US market favors BARBIE DOLLS MADE IN SWEATSHOPS IN CHINA.
Really, yes, the hottest commodity in USA isn’t steel, coal, gas, oil, lumber, gold, silver, nickel, tin, zinc, copper but Mother F*cking Barbie Dolls
Shockingly, one of the hottest stocks in the past month isn't leading AI play Nvidia, profit beast Apple, or even Threads-dropping Meta.
Nope. It's Mattel stock (MAT), as the 78-year-old toymaker appears to have struck cultural relevance gold with its upcoming "Barbie" movie.
Shares of Mattel are up 15% over the past month, outperforming the stock price of Apple stock which has trucked along with a 4% improvement.
The graphic above shows a 15% spike in Mattel; this is a very bad sign for how sick US society is. All other asset classes in the US are collapsing, yet BARBIE is soaring. Really?
We are seeing massive layoffs, and inflation due to money printing which debases the dollar. The lack of domestic manufacturing, along with the government’s lust for war and theft from the public, is the perfect storm for the collapse of USA.
Mattel manufactures most of its toys in China, specifically in the Guangdong province.
Some of the specific cities in Guangdong where Mattel manufactures toys include: Dongguan, Foshan, Guangzhou, and Shenzhen.
Mattel also has a few factories in other parts of China, such as in the cities of Chengdu and Shanghai. However, the majority of its manufacturing is still done in Guangdong province.
Here are some of the reasons why Mattel manufactures its toys in China:
- Child labor and slavery that mainstream media and Mattel executives call “lower labor costs.”
UNFORTUNATELY, we’ve seen this movie before.
Here are the top 5 products that coordinated a movie with fast food and a toy:
Toy Story toys from McDonald's (1995)
Toys: Buzz Lightyear, Woody, Rex, Hamm, Slinky Dog, Mr. Potato Head, Bo Peep, Alien, and Pizza Planet Truck
The Lion King toys from Burger King (1994)
Toys: Simba, Nala, Timon, Pumbaa, Rafiki, Zazu, Mufasa, Scar, and Shenzi
Shrek toys from McDonald's (2001)
Toys: Shrek, Donkey, Fiona, Puss in Boots, Dragon, Lord Farquaad, and Gingy
Despicable Me Minions toys from McDonald's (2013)
Toys: Minions (various)
Since USA consumers are getting stupider by the day BARBIE will dwarf these aforementioned movies and will become the largest scam unleashed on the public.
It’s a sickening display of materialism.
When Rome fell the Roman senate held 99% of the wealth and the 1% were distracted with colosseum games. In the USA today 99% of the wealth is held by the Ruling Class and the people are distracted with colosseum games: Barbie, Taylor Swift, social media, Mobile Phones, Crypto, Sweatshop consumption, Amazon, Netflix, Hulu, Apple TV, Snapchat, Instagram.