Crypto Crash

The problem with crypto currency is that it has no material backing, unlike fiat currency which has gold & a national economy behind it. Whatever DCA (dollar cost average) you apply to crypto, it is simply a made-up value. Pegging it to the dollar, or backing it with Treasury notes (so-called “stable coins”) doesn’t add any real value to the crypto itself. In economics this is known as an asset bubble or a Ponzi scheme.

Only massive speculation by interested investors keeps the entire crypto market from going to zero. On top of this, there is massive energy waste that is unaccounted for with crypto. Eventually, all this fictitious capital will get wiped-out, and that’s where crypto is going. That is a Marxist assessment.

Everyone in the crypto industry now knows Elon Musk is the Bitcoin whale. That explains why he just backed-out of buying Twitter for $43B, after planning its takeover for months and putting it into motion. His supposed $240B is mostly a giant asset bubble, built on fictitious capital in the form of crypto currency. The rest of Elon Musk’s wealth is stolen from super-exploited workers. With what he owes to banks, he’s probably bankrupt when the crypto market implodes.

Tesla’s valuation is a joke, and SpaceX is a boondoggle. I lived in Central FL, so I know all about what goes on at Cape Canaveral. It’s always on the local news. NASA has been privatized and contracted to Elon Musk’s SpaceX. His mad vision is to colonize Mars and commercialize space travel, but the problem is Musk can’t get a reusable rocket to land without exploding. Billions & trillions of dollars are being wasted on all this, with no progress & no end in sight.

SpaceX controls many of the satellites which have communication & military value. This is how the class war is being fought. We’re talking about the supposed richest man in the world being bankrupt in terms of real value. There couldn’t be a more damning indictment of capitalism than that. Everyone one of these billionaire tyrants must be exposed as a fraud and their wealth expropriated for public use on an international scale.

This all started on Wednesday, May 11 and has been a panic since Thursday, May 12. This is Bitcoin as of this publication on Saturday:

Elon Musk now has to put all his cash into Bitcoin to weather the storm and eventually re-inflate the crypto bubble. That’s his plan. How much longer can Bitcoin hold out? That depends of Musk’s support in the market, with working class awareness & resistance looming on the other side. If investors still trust him with their money, then Bitcoin will be made to look legitimate again. If the money dries up, Musk is toast.

The tendency of fascism is to maintain any useful demagogues, in case a fuhrer is needed. Donald Trump & Elon Musk are of the same kind– ignorant, ego maniacal mad men. They both personify the madness of capitalism in its death throes, and must be dealt with by the working masses of the world in order to prevent nuclear annihilation.

This is the realpolitik being discussed by elites privately. Once they are completely defeated ideologically, the elites resort to provocation, intimation & outright violence. The Proud Boys, etc, are their right wing paramilitary forces which are to be unleashed upon the working masses to maintain this ruling class madness.

If Elon Musk’s wealth can’t be maintained as believable, then fascism must step in to crush the masses, because a crypto market crash will bring down the entire global financial system. The notoriously corrupt US-backed dictatorship of El Salvador just officially adopted cryptocurrency as legal tender. This crypto crash affects that rollout.

It’s now apparent to many that there are serious issues of legitimacy & sustainability with Bitcoin and the crypto market. How long can this fiction be maintained to the masses? That’s the question no one in the industry can answer.

Money managers bankers, hedge fund investors, etc, found a way to make a lot of money off of crypto in terms of fees, commissions, charges, etc; but nothing productive was ever made from it. It’s been such a horrible waste. It’s fool’s gold in cyberspace that produces even more global warming.

What happens when every nation goes to war and you can’t connect to the internet or grid because fascist forces in every country control all of them? What is Bitcoin worth then? These are questions to be considered as the entire US establishment led by the Democrats & Joe Biden provoke the Russia-Ukraine conflict, threatening a world wide conflagration which ends in mutually assured destruction.

People need to start thinking in these terms because this is what’s going on. The Coronavirus War is the war to prevent WW3. It can only be won by the international working masses united under the banner of Trotskyism. Read the World Socialist Web Site and become a member/supporter, etc.

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SpaceX Explodes

This capability will enable a fully reusable transportation system designed to carry both crew and cargo on long-duration, interplanetary flights and help humanity return to the Moon, and travel to Mars and beyond,” SpaceX said in a statement ahead of Tuesday’s test.

Tuesday, Feb 2, 2021  7:20 EST: It was a successful launch. It’s not the fall that kills everybody, it’s the sudden stop. Another data point on the privatization of NASA. My alternate title is “SpaceXplodes.”

Top comments from others: “Eh… ‘at’ll buff right out,” “Needs a giant Bitcoin sticker on it. Then she moons,” “SpaceX is a booming business!”, “Looks like Tesla stock once reality actually takes place,” and “That could be you.”

Ground control to Major Tom, your circuit’s dead, there’s something wrong…

That’s our taxes going up in smoke over some pie-in-the-sky delusion of grandeur.

This must be why Elon Musk insisted on being interviewed on NBC on MONDAY night, when he didn’t take any GameStop questions either.

Not a reusable rocket. FAIL

Under these results, humanity will never get to Mars. Musk is Trump 2.0.

In this modern-day reboot of Rocky Jones, Space Ranger (1954), Elon Musk is Rocky, and Jared Isaacman is Winky.

Bonus Short: Roy Thinnes in General Hospital circa 1964.

In term of physics, trying to land a rocket on it’s thrusters is like trying to land an airplane on its tail– meaning it’s physically impossible. This is because you can’t control an inverted pendulum in free-fall. But despite multiple miserable failures at this, Elon Musk is not deterred. As in Manhunt in Space (Rocky Jones, renamed), our billionaire entrepreneur must go back the the drawing board and re-discuss all this with his top scientists. The answer is probably in “cold light,” which should never be used indiscriminately.

SpaceX was founded by Elon Musk in 2002, and through his political connections, it has become the chief contractor & engineering team for NASA. The space shuttle program formally ended in August, 2011, so that Musk could design his own new vision of the future, which is the privatization of space travel.

Who is SpaceX charging to launch rockets & satellites? In the end, it’s all some form of corporate welfare. This second fireball disaster in less than two months (see video above) is an illustration of the folly, wastefulness & anti-scientific character of NASA under private control.

It used to be when something went wrong with NASA, there would be an explanation. Like on February 1, 2003, when the space shuttle Columbia blew apart on re-entry, killing all 7 crew members. We now know that something as small as a piece of foam insulation breaking off from an external tank, can strike a wing, and cause heat tiles to fall off. When Columbia re-entered the atmosphere, that damage allowed hot gases to penetrate the heat shield. Anyone can understand that.

But NOBODY can explain a fix for what’s happening here with Elon Musk. It’s been over a decade, and Musk still hasn’t delivered a Starship prototype that can land safely. It’s not even close. It’s time for the working people to change the leadership at NASA.

After this 2nd spectacular FAIL, there won’t be any customers for a “reusable rocket” that explodes into smithereens due to physical laws upon re-entry. To be truthful, we’d be further along in manned exploration with the space shuttle program, but Elon Musk had it killed to promote his personal vision, which is a boondoggle.

The only way I could think of promoting Elon Musk’s NASA delusion would be as follows: “Experience of a lifetime!! Your Twitter feed will blow up as you live-stream blast-off! Jettison yourself to the stars for your 15 minutes of fame! Re-entry will be a bummer, but you’ll get a helluva rating. A fifty-share, easy.”

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