A Disturbing Fact about Cryptocurrency Exchange FTX By James Reed
I have been only loosely following the collapse of cryptocurrency exchange FTX, mainly examining the money laundering through the Ukraine aspects, right into the corrupt US Democrats. But, as reported by Natural News.com, FTX was a corporate partner of the world Economic Forum. This is “stake holder capitalism,” a neo-Marxist idea of corporations putting woke politics above the classical model of profit making. At least with the old school model, corporations kept out of politics, or at least to the extent that it did not affect their interests. But what we are seeing, and FTX was an example, is a form of capitalism, where while profits are still important, “The Message” comes first. Hollywood, Disney, marvel and the like seem to b going down that road now. One can hope: go woke, go broke!
“Prior to its epic downfall, the now-defunct cryptocurrency exchange FTX, believe it or not, was listed as a corporate “partner” on the website of the globalist-run World Economic Forum (WEF).
In order to be considered a WEF corporate partner, an entity must meet the organization’s standards for so-called “stakeholder capitalism,” an economic model based on socialism. FTX qualified for this, despite being branded as a free market exchange for cryptocurrencies.
The WEF’s ideal model of stakeholder capitalism involves doing away with the philosophy of Milton Friedman, which centers around business growth and profits. Instead, the WEF wants to see wealthy elites and large corporations in control of everything from people’s finances to the types of energy they use.
“In other words, corporate leaders should become cultural and political leaders fulfilling greater ideological goals, all of them decidedly socialist / Marxist in origin,” explains Zero Hedge.
“Stakeholder Capitalism becomes a way to trick the public into investing their faith in corporate leadership because these companies are no longer simply ‘in it for the money,’ they are in it for the survival of the world and the species, right? The companies become saviors, not just mercantilists. That kind of blind faith allows people to be taken advantage of in a big way. It’s the same kind of faith once applied to kings and monarchies centuries ago, and it usually leads to various forms of feudalism.”
Centralization is how the globalists seize control of money, labor, and ultimately power; decentralization provides freedom
All of this ties in to Klaus Schwab’s infamous statements about how everyone below the elites will eventually “own nothing, have no privacy, and be happy about it,” a mission that was apparently shared by FTX’s Sam Bankman-Fried, a globalist who for years has been hobnobbing with the likes of Schwab, the Clintons, and many others of that ilk.
A big part of this is the ESG social credit system that is being imposed on large corporations right now. In order to be socially and environmentally responsible, businesses are expected to comply with the WEF’s ESG model of conducting business, which again is centered around socialism rather than free markets.
It turns out that the role of FTX was to hijack the crypto model and funnel it all into a globalist-run exchange like Wall Street, except for cryptocurrency. Blackrock was also involved, which explains why FTX executives were constantly bragging about their company’s devotion to climate and social justice, among other left-wing causes.
“A key component of Stakeholder Capitalism is the need for a digital currency framework, which might explain the WEF’s interest in FTX as a partner,” the Hedge further explains.
“The move to a cashless society is the next step necessary for the micro-management of the economy and the ability to dole out rewards or punishments based on ESG scoring. It is an incremental top-down implementation of a framework similar to China’s ‘social credit system.'”
Cryptocurrencies started out as a decentralized way to conduct business and own assets without private central banks, but in came FTX to centralize it all under the same globalist banner as the Federal Reserve, except for digital money as opposed to Federal Reserve Notes.
“Fried constantly espoused the pie-in-the-sky ideals of Stakeholder Capitalism, engaging in a kind of corporate charity built on socialist guidelines and climate cultism, while at the same time draining client accounts,” reports explain.
“While many analysts and economists will be talking for months about the epic downfall of crypto-exchange company FTX and its founder Sam Bankman-Fried, their focus will be primarily on the billions lost, the mismanagement of funds, the fraud inherent in yield farming and the alleged betrayal of investor trust. This is a tale as old as time and not anything surprising. What many in the mainstream are missing, though, is Fried's attachments to the World Economic Foundation, various global elitists and his avid sermonizing of the tenets of “effective altruism”, which are nearly identical to the tenets of Klaus Schwab's Stakeholder Capitalism agenda.
The WEF lists FTX as a corporate “partner” and participant, which means the company must meet the globalist organization's standards for Stakeholder Capitalism, a socialist economic model which deconstructs the Adam Smith and Milton Friedman free market foundation.
Milton Friedman argued that the only responsibility of business should be growth and profit (within the boundaries of the law) with the shareholders in mind. The WEF insists that the Friedman philosophy must be abandoned and that the job of wealthy elites and corporations is to use profits as a tool for managing society (the so-called “stakeholders”). In other words, corporate leaders should become cultural and political leaders fulfilling greater ideological goals, all of them decidedly socialist/Marxist in origin.
Stakeholder Capitalism becomes a way to trick the public into investing their faith in corporate leadership because these companies are no longer simply "in it for the money," they are in it for the survival of the world and the species, right? The companies become saviors, not just mercantilists. That kind of blind faith allows people to be taken advantage of in a big way. It's the same kind of faith once applied to kings and monarchies centuries ago, and it usually leads to various forms of feudalism.
In the WEF's vision of the future, the average person will “own nothing, have no privacy and be happy about it” while corporate elites in partnership with governments micromanage all production, all distribution and all finance.
An ongoing example of the early stages of this model is ESG, a credit system in which loans are given to companies and individuals based on their ESG score, derived from how dedicated they are to globalist causes. In the near future, if you don't promote social justice ideology and support establishment climate change claims, then you might not be able to get a loan from the bank for your business. You might not be able to get a mortgage loan for a new home. In fact, you might not even be allowed to have a bank account.
FTX and Fried heavily relied on investment firms like Blackrock, which is a major component of the spread of ESG. This may be why FTX regularly announced their devotion to climate and social justice projects, it kept them in the good graces of the ESG overlords.
A key component of Stakeholder Capitalism is the need for a digital currency framework, which might explain the WEF's interest in FTX as a partner. The move to a cashless society is the next step necessary for the micro-management of the economy and the ability to dole out rewards or punishments based on ESG scoring. It is an incremental top down implementation of a framework similar to China's “social credit system.”
The concept is being sold by the WEF and their corporate partners as way to create “equity” within the economy by incentivizing the redistribution of wealth from the very rich to the very poor and to 'humanitarian causes.” It uses access to the banking apparatus and the economy itself as a carrot or a cudgel. Really, it is the ultimate form of centralization and control posing as a charitable movement for the greater good. But without the freedom to succeed and the freedom to fail, there can be no greater good.
Evidence is mounting that the equity measures involved in Stakeholder Capitalism will actually erase wealth rather than create wealth. To be sure, it would make the majority of people financially even – Instead of being equally rich, we will all suffer in equal poverty.
The downfall of FTX and Sam Blankman-Fried illustrates this problem with clarity. Fried constantly espoused the pie-in-the-sky ideals of Stakeholder Capitalism, engaging in a kind of corporate charity built on socialist guidelines and climate cultism, while at the same time draining client accounts.
The FTX profit strategy was based initially on taking advantage of imbalances in international crypto exchange rates; a limited window for a quick cash grab rather than an idea for long term viability. It also relied on the crypto market constantly reinventing the wheel with new branding and marketing to grow demand for technology that the majority of people around the world don't really need or particularly desire.
Fried suggests that his intent all along was to expand capital as a means to give it away to leftist causes. He donated over $40 million to Democrat campaigns, for example. The problem was he failed in business while giving away the money of his clients at the same time. Some people argue that his clients are partly culpable for the losses, but Fried explicitly stated that his company would not use client funds in such a way. He lied to them, which is not a great feature of a supposed humanitarian.
Being 30 years old and naive certainly didn't help him, but Fried is a perfect example of why corporation leaders have no business being involved in social engineering. They are not qualified enough nor intelligent enough nor benevolent enough to mold society at large; no one is that wise or experienced. Beyond that, the Stakeholder Capitalism ideology is rooted in socialist drivel, making FTX a socialist drivel-based company.
The model is designed to inevitably reduce the standard of living for most people over time rather than improve it. Fried just showed us how and why.
FTX is a petri dish for the disease of Stakeholder Capitalism. In the end, FTX and Fried are a warning to us all that business should be separate from politics and cultural moderation. They are better off focusing on making money and increasing productivity and innovation; those companies that can't should be allowed to fail, not be propped up as pillars of social cohesion. This is the true way to ensure human progress. In the meantime, the rest of us are much better off without their help and “charitable” oversight.”