(Natural News) DISCLAIMER: This author owns zero cryptocurrencies. We fully support the concept of decentralized currencies and the promise of private, peer-to-peer transactions. We affirm that central banks are the source of tremendous evil, corruption and mass suffering across the planet. Yet we have become aware of a shocking truth in the current crypto ecosystem that cannot be swept under the rug. As this story reveals, it appears the crypto ecosystem has been erected as a giant trap built on systematic counterfeiting. Thanks to certain players in the ecosystem, crypto has largely become “digital fiat currency” with the same kind of unlimited money printing that we were all trying to get away from. Read this story, watch the videos and see for yourself…
Silver guru David Morgan has released a video series called the Crypto Conspiracy. This series is available at The Morgan Report channel on Brighteon.com, shown here:
Please consider this video series a must-see series covering Tether, Bitcoin, Evergrande and even the Epstein connection to the origins of Bitcoin. In this series, David Morgan interviews John Perez who shares bombshell information that could reveal the end of the crypto ecosystem as we know it.
John Perez told me today, “The connect to Epstein is mind-bending and it’s impossible to hide. It’s right out in the open. This story is going to lead to the biggest conspiracy in the history of mankind.”
Tether, stablecoins and the crypto ecosystem
To understand the magnitude of the “crypto conspiracy,” you need to first grasp what Tether is, and how Tether coins are used to purchase the vast majority of Bitcoin (about two-thirds). Tether is called a “stablecoin” and the Tether company — based on Hong Kong under China’s control — once claimed to have $1 in USD assets for every Tether coin that was created.
A criminal investigation into Tether and Bitfinex by the NY Attorney General concluded that claim was a lie. Via NY AG’s February 23, 2021 press release:
In the case of Tether, the company represented that each of its stablecoins were backed one-to-one by U.S. dollars in reserve. However, an investigation by the Office of the Attorney General (OAG) found that iFinex — the operator of Bitfinex — and Tether made false statements about the backing of the “tether” stablecoin, and about the movement of hundreds of millions of dollars between the two companies to cover up the truth about massive losses by Bitfinex.
“Bitfinex and Tether recklessly and unlawfully covered-up massive financial losses to keep their scheme going and protect their bottom lines,” said Attorney General James. “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”
The OAG’s investigation found that, starting no later than mid-2017, Tether had no access to banking, anywhere in the world, and so for periods of time held no reserves to back tethers in circulation at the rate of one dollar for every tether, contrary to its representations. In the face of persistent questions about whether the company actually held sufficient funds, Tether published a self-proclaimed ‘verification’ of its cash reserves, in 2017, that it characterized as “a good faith effort on our behalf to provide an interim analysis of our cash position.” In reality, however, the cash ostensibly backing tethers had only been placed in Tether’s account as of the very morning of the company’s ‘verification.’
This is just the beginning of the story on Tether, Bitfinex, Bitcoin and the crypto ecosystem, however. This rabbit hole goes so much deeper, and anyone involved in crypto at any level needs to take a serious look into the 2021 revelations about Tether and the accusation of “digital fiat currency” or what’s also being called “crypto counterfeiting” by some analysts.
On YouTube, Stoic Finance has provided some very intriguing coverage of all this. A recent video from Stoic is found here, covering the crypto plunge, China’s debt implosion problems and more:
Another YouTube channel that’s worth seeing is called Coffeezilla, and it covers various crypto scams and “influencer” payola schemes, mostly in a millennial video style for younger viewers. In this video, Coffezilla exposes Tether, which he calls, “Bitcoin’s biggest secret.” The first several minutes of this video are a bit slow, but it really gets going around minute 20 or so:
In addition to these video channels on YouTube, the David Morgan Crypto Conspiracy videos feature John Perez, an investigator who has been digging into the Tether story and Tether’s links to communist China. You’ll hear more from Perez in the coming weeks.
It appears that the crypto ecosystem is a mass counterfeiting operation
In the aggregate, the bombshell findings that are being uncovered by these individuals are simply horrifying. It appears that a mass crypto counterfeiting operation has been under way for years, creating “counterfeit” crypto coins that are used to buy up Bitcoin, Ether and other coins across the crypto ecosystem. There is irrefutable evidence of the criminality of such operations (see the NY AG document above), and it appears that the “valuations” of the crypto ecosystem are largely fictitious.
Based on these revelations, it appears that the vast majority of the crypto ecosystem is a global counterfeiting scheme that’s headed for a “crypto reset” once the fraud is fully exposed. While many people are buying crypto with cash, other players simply “create” coins out of thin air and use those to purchase Bitcoin, Ether or other popular coins. They then sell those coins for cash (such as USD), thereby transferring greenback fiat currency into their own hands by simply counterfeiting digital fiat from the start.
Far from escaping the fiat currency money printing manipulation of the Federal Reserve, the operations of Tether appear to have simply recreated fiat currency money printing in the digital world. Even worse is the fact that Tether still has never been audited by a legitimate accounting firm to prove they actually have the deposits they claim.
As a result of these revelations, many analysts believe that once the full extent of the digital fiat currency creation is fully revealed, Bitcoin and other crypto assets may experience a significant wipeout. Here’s a video on Brighteon.com that asks the question, “Is Bitcoin About To Crash 95% ? (Tether Bitcoin Manipulation)”
So far, it seems, most people involved in crypto have been willing to look the other way on Tether because they all seem to be “making money” as the crypto bubble rises. But with Bitcoin having plunged 17.5% in mere hours last Friday night — and with many cryptos now suffering sustained selloffs — the overpowering elation of an ever-rising market seems to be waning.