The Scandalous Alliance: SEC and Banks VS Crypto

Banks and Investment Funds are Protected by Gary Gensler, Chairman of the SEC, in Their Battle Against Crypto

How to explain that the SEC and the financial regulators of the states defend their interests rather than those of the people and the nations? You just have to see where the money that goes in their pockets comes from. And it is not from crypto!

  • SEC Chairman is paid by Goldman Sachs and World Bank
  • The latter totally denigrates crypto currencies and invests all his money in Hedge Funds
  • Hedge funds and banks are responsible for the most serious economic crises
  • The SEC does not defend the economy, it defends private interests

The Interests of Goldman Sachs Vs The Interests of Crypto

Goldman Sachs pays Gary Gensler, chairman of the Securities and Exchange Commission – SEC. This information is contained in a document that he had to fill out as president of the Commodities Trading and Futures Commission (CFTC) in 2009. But the Conflict of Interest does not stop there, quite the contrary.

More recently, in 2020, another document predicted that the payment would be $ 977 per month, for a total of $ 11,724 per year. In addition, Gensler received a payment of $ 1,000 in honoraria from the World Bank.

Gary Gensler therefore has interests to be defended on the side of traditional markets. Interest in kind, which he receives monthly. And one-off interest, paid for its services to private banks. But also interests financial.

Indeed, the president of the SEC is at the head of a small fortune estimated between 50 and 100 million dollars. And all of its active are invested in actions and traditional markets.

Gary Gensler’s Capital is with Goldman and the Hedge Funds

In his 2020 statement, the SEC chairman does not specify the exact allocation of his investments. We can, however, know that most of it is placed in the background Annabel Lee, LLC. This entity owns most of its capital. Yet, in his 2009 statement, Gensler states:

the fund manager has refused to provide me with sufficient information to allow me to disclose the underlying assets of the fund in my financial disclosure report

Astonishing. Is this a way of hiding the true nature of its investments? Or does the president of the SEC really accept that he doesn’t know where his money is going? Other actions, like You’re here, the S&P 500 and Vanguards Europe Index appear on his statement.

In the absence of a competent authority to verify this declaration, it must be considered that it corresponds to Mr. Gensler’s portfolio of shares.

But this information speaks volumes enough. Gary Gensler only owns US stocks and indices. It is also paid by US investment banks.

On the cryptocurrency side, this character claims to be a Blockchain teacher at MIT. A post for which he is paid $ 2,600 per lesson. However, he never wrote any press article about Bitcoin, blockchains or cryptocurrencies. No more than he has already bought any crypto currency, Bitcoin or Ethereum. An absence of purchase which did not however prevent him from making aggressive statements to these assets.

Read Also:  Where To Get Free Copies Of Your Credit Reports

Gary and the SEC don’t like Cryptos!

In particular, the Stable corner. He sees them as competitors of fiat currencies, such as the dollar or the euro. For him, the stable corner are pokers tokens. An astonishing position taken when we know the importance that they will be able to play in the future economy.

Gary Gensler is therefore clearly facing two camps.

That of traditional finance, represented by investment banks like Goldman Sachs and by traditional markets and the S & P500. On the other side, there are crypto currencies, blockchain, innovations and the future. A future that he seems to know, given his educational positions and his role as fintech advisor at the FED in New York. And it is the camp of classical finance that he has chosen.

A camp in which short sellers had so many open positions in Tesla thatElon musk almost had to organize a share buyback and take the company out of the markets.

It was as the leader of this camp that the SEC Chairman chose to lead an attack on Robinhood after the GME short squeeze. A shoort squeeze due to the greed of investment funds, which had opened shorts for 140% of all stocks available in the market. A financial aberration.

Gary and the SEC like the manipulations of Markets!

But in this case, the SEC went after Robinhood, accusing it of turning the market into a playground. The reality is that traders at Reddit saw market manipulation, and took advantage of it. , instead of leaving the money to the hedge funds. In fact, since the SEC faced the 2008 crisis, it has relinquished its power.

To give it to rating agencies that distribute triple A ratings to companies that pay them. Since the situation derailed in China, we questioned the SEC, in order to know if it had drawn conclusions from the situation of 2008, it answered in the wind. Obviously, the SEC does not seek to defend investors, not more than savers or citizens.

Divergent interests

The SEC seeks to defend its own economic interests, which are linked to those of banks and investment funds. The former pay SEC staff directly, while the latter manage their capital impressive. It is therefore a rigged game proposed by regulatory bodies.

They are not there to shed light on economic situations, not even to protect the country’s economy. Only the personal benefits of a few count. It is time for the crypto currencies come to question a situation that has been under control for a long time and which benefits a minority.

In this sense, the newspaper Trusnodes published the details of Gary Gensler’s investments, as president of the SEC in 2020 and as president of the CFTC in 2009.

Recent Articles

Related News

Leave A Reply

Please enter your comment!
Please enter your name here