Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
by Stan Szymanski
Photo Credit: Family Policy Institute Of Washington (https://www.fpiw.org/blog/2021/11/24/george-washingtons-thanksgiving-proclamation/)
This is a re-posting of this article I originally posted at this time last year.
Many thanks to Danny at Deep South Homestead for his podcast on George Washington’s Thanksgiving Proclamation of October 3, 1789.
After reading this profound and yet succinct declaration it is indeed sobering to realize just to what depths that These United States have fallen. It is God who gives us our sustenance. It is God who for so many years has rendered mercy for a sometimes stiff necked people. And because where the Lord is, there is liberty:
“Now the Lord is that Spirit: and where the Spirit of the Lord is, there is liberty.”
2 Corinthians 3:17 KJV
https://bible.com/bible/1/2co.3.17.KJV
Please prayerfully consider what God has done for you, your family, your community and your nation before you enjoy the bounty of a Thanksgiving meal. Please pray for those that have no one and no where to go. Pray for the disabled/special needs as in my experience many who live in institutions have -no one- who will come to see them on America’s holiday. Give special thanks to God and to our servicemen and servicewomen who have protected our country since its inception. Please also prayerfully consider below George Washington’s Thanksgiving Proclamation of October 3, 1789 as you literally ‘give thanks’:
___________________________
Please refer to our proviso at the end of the article regarding any reproduction of this writing and consider a donation to Encouraging Angels today.
—————————————-
From: Founders Online
Thanksgiving Proclamation,
3 October 1789
Thanksgiving Proclamation
[New York, 3 October 1789]
By the President of the United States of America. a Proclamation.
Whereas it is the duty of all Nations to acknowledge the providence of Almighty God, to obey his will, to be grateful for his benefits, and humbly to implore his protection and favor—and whereas both Houses of Congress have by their joint Committee requested me “to recommend to the People of the United States a day of public thanksgiving and prayer to be observed by acknowledging with grateful hearts the many signal favors of Almighty God especially by affording them an opportunity peaceably to establish a form of government for their safety and happiness.”
Now therefore I do recommend and assign Thursday the 26th day of November next to be devoted by the People of these States to the service of that great and glorious Being, who is the beneficent Author of all the good that was, that is, or that will be—That we may then all unite in rendering unto him our sincere and humble thanks—for his kind care and protection of the People of this Country previous to their becoming a Nation—for the signal and manifold mercies, and the favorable interpositions of his Providence which we experienced in the course and conclusion of the late war—for the great degree of tranquillity, union, and plenty, which we have since enjoyed—for the peaceable and rational manner, in which we have been enabled to establish constitutions of government for our safety and happiness, and particularly the national One now lately instituted—for the civil and religious liberty with which we are blessed; and the means we have of acquiring and diffusing useful knowledge; and in general for all the great and various favors which he hath been pleased to confer upon us.
and also that we may then unite in most humbly offering our prayers and supplications to the great Lord and Ruler of Nations and beseech him to pardon our national and other transgressions—to enable us all, whether in public or private stations, to perform our several and relative duties properly and punctually—to render our national government a blessing to all the people, by constantly being a Government of wise, just, and constitutional laws, discreetly and faithfully executed and obeyed—to protect and guide all Sovereigns and Nations (especially such as have shewn kindness unto us) and to bless them with good government, peace, and concord—To promote the knowledge and practice of true religion and virtue, and the encrease of science among them and us—and generally to grant unto all Mankind such a degree of temporal prosperity as he alone knows to be best.
Given under my hand at the City of New-York the third day of October in the year of our Lord 1789.
Go: Washington
———-
DS, CStbK; DS, DLC:GW; copy, sold by Christie, Manson, & Woods, International, 21 Oct. 1977. The proclamation was also printed as a broadside. Copies of the broadside are at Harvard University, Yale University, and the Pierpont Morgan Library. Other copies are owned (1992) by Marshall B. Coyne, Washington, D.C., and Ralph Geoffrey Newman, Inc., Chicago.
For background to this document, see Circular Letter to the Governors of the States, 3 Oct. 1789, n.1.
———-
If you appreciate this article can you consider a gift to Encouraging Angels for the intelligence we provided today? Click this link to give. We need the support. Links to this article are encouraged. Reproductions of this writing are only allowed by written permission of the author.
All rights reserved.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
I guess that we didn’t know that people who are allegedly responsible for the loss of billions of customer assets get to go to large speaking engagements with politicians, take advantage of US bankruptcy laws and apparently remain unquestioned by a supposedly responsible and unbiased legal system. Howls of outrage indeed…
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
I post this because, in my humble opinion, the other side of the story about the war in the Ukraine must be told to balance the onslaught of the propaganda from the mainstream media of the west.
From the Armstrong blog post: …’This war will NOT be confined to just Ukraine you can watch it on TV as if it is some video game.’…
https://www.armstrongeconomics.com/international-news/ukraine/ukraine-supporters-denial-of-history/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.zerohedge.com/covid-19/how-money-gates-and-ftx-bought-scientific-silence
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
The EA Podcast will be on a Thanksgiving break until Monday November 28, 2022
https://www.podbean.com/ew/pb-7vna4-131e956
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
By Stan Szymanski
Two weeks ago in ‘Are the SEC and The Federal Reserve Part of the Story of Bankrupt FTX? Derivatives Become an Issue’, I mentioned that Crypto lending and trading concern Genesis Trading had $175 Million of its derivatives business tied up in an FTX trading account. At the time, Genesis said…’our operating capital and net positions in FTX are not material to our business’. On the same day I posted that writing, Genesis was given an ‘equity infusion’ by its parent (DCG) as I wrote Last week in ’Crypto Conglomerate Digital Currency Group (DCG) is at the Epicenter of the Cryptocurrency Earthquake’:
…’The lending arm of crypto investment bank Genesis Global Trading is temporarily suspending redemptions and new loan originations in the wake of FTX’s collapse, Interim CEO Derar Islim told customers on a call Wednesday.’…(Coindesk ‘Genesis’ Crypto-Lending Unit Is Halting Customer Withdrawals in Wake of FTX Collapse’ 11/16/22).
Then we found out …’Crypto investor Digital Currency Group is giving an equity infusion of $140 million to Genesis Global Trading, a company within its portfolio…“While the operation of our lending and trading businesses has not been impacted by recent market events, Genesis has taken steps to strengthen its balance sheet with an additional equity infusion of $140M from our parent company, Digital Currency Group,” Genesis told clients in an email’…
First they tell you that the derivatives money tied up in FTX is no big deal. Then, you find out that the parent of Genesis (DCG) infused $140 million into Genesis after the failing of FTX. Why did they really need the $140 million?
Today’s entry into the Genesis saga is a report from Bloomberg:
…’Digital-asset brokerage Genesis is struggling to raise fresh cash for its lending unit, and it’s warning potential investors that it may need to file for bankruptcy if its efforts fail, according to people with knowledge of the matter.’…
Genesis has spent the past several days seeking at least $1 billion in fresh capital, said the people, who asked not to be identified because discussions are private. That included talks over a potential investment from crypto exchange Binance, they said, but funding so far has failed to materialize.’…
When Bloomberg states…’ Genesis is struggling to raise fresh cash for its lending unit’…we can now assume that the problem lies with the lending side of the business. Lending typically involves debt, leverage and credit risk of who is asking for the loan.
What are we going to find out about Genesis that we didn’t know before? Will it be that like the business practices of FTX that Economist Martin Armstrong described in a blog today?
…What people must understand is that there is no record of these funds existing anywhere. No one knows who worked for FTX, as all basic information has been shielded. These mysterious employees were encouraged to use software that automatically deleted messages, and they often spoke in code.’…(FTX Deep Fake- The Funds are Gone-Martin Armstrong 11/22/22)
So first, Genesis told us that they had $175 million of their derivatives business tied up in the now defunct FTX and that …’net positions in FTX are not material to our business’…
Then Genesis suspended redemptions and loan origination and received a $140 million equity infusion from their parent, DCG.
Today, Genesis is claiming that while they are at their weakest point, that they are worthy of at least $1 Billion in brand spanking new money from investors or they might need to file for bankruptcy.
If Genesis is on the verge of bankruptcy, after this and the catastrophe of FTX, how far behind can a failure or even a meltdown at Genesis Tradings’ parent, Digital Currency Group be?
It feels as if things are cascading out of control. Please note that this all started with a problem in the Genesis derivatives position because of the collapse of FTX. It is possible that other derivative positions are beginning to teeter and cause problems that are not public knowledge today. Tomorrow is another day.
The Genesis Trading soap opera has made it through another day. The real challenge is to see if they can make it through another tomorrow.
———-
If you appreciate this article can you consider a gift to Encouraging Angels for the intelligence we provided today? Click this link to give. We need the support. Links to this article are encouraged. Reproductions of this writing are only allowed by written permission of the author.
All rights reserved.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ew/pb-mwpvi-131ceba
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
The SNAKE VENOM connection to the jab…
https://www.stewpeters.com/video/2022/10/worldwide-exclusive-dr-ardis-was-wrong/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ew/pb-gznqh-1319e9d
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Photo Credit: USGS; Haiti 2010
By Stan Szymanski
After writing last week about the troubles Genesis Trading had with the derivatives in their FTX account, Coindesk today reported this story about their new hardships:
…’The lending arm of crypto investment bank Genesis Global Trading is temporarily suspending redemptions and new loan originations in the wake of FTX’s collapse, Interim CEO Derar Islim told customers on a call Wednesday.’…(Coindesk ‘Genesis’ Crypto-Lending Unit Is Halting Customer Withdrawals in Wake of FTX Collapse’ 11/16/22)
Last week I wrote ‘Are the SEC and The Federal Reserve Part of the Story of Bankrupt FTX? Derivatives Become an Issue. In it, I included a quote from a Yahoo Finance story about the beginnings of stress on the derivatives at Genesis:
…’’Crypto broker Genesis said its derivatives business has about $175 million “in locked funds” in the company’s FTX trading account.
“This does not impact our market-making activities,” the firm said in a Twitter thread, adding “our operating capital and net positions in FTX are not material to our business.”…
Fast forward to Nov. 11, 2022-Coindesk reports that:
…’Crypto investor Digital Currency Group is giving an equity infusion of $140 million to Genesis Global Trading, a company within its portfolio.
“While the operation of our lending and trading businesses has not been impacted by recent market events, Genesis has taken steps to strengthen its balance sheet with an additional equity infusion of $140M from our parent company, Digital Currency Group,” Genesis told clients in an email, referring to the latest crypto market downturn caused by the collapse of crypto exchange FTX. The email was confirmed by a DCG spokesperson.
Do you believe that they were not impacted by recent market events? Neither do I. BTW, Coindesk is at least partially owned by Digital Currency Group.
Who is Digital Currency Group (DCG)?
The first claim on the DCG website is that DCG is…’The epicenter of the bitcoin and blockchain industry’…
The front page of the DCG website goes on to assert:
…’Our mission is to accelerate the development of a better financial system. We build and support bitcoin and blockchain companies by leveraging our insights, network, and access to capital.’…
So they are claiming to be the epicenter of the Bitcoin and blockchain industry. My first thought is that that is a strange choice of words, as an epicenter is something that is always at the center of an earthquake!
When DCG declares …’We build and support bitcoin and blockchain companies by leveraging our insights, network, and access to capital’… there is an interesting word in that phase; leveraging.
The first part of this saga starts when Crypto broker Genesis said its derivatives business has about $175 million “in locked funds” in the company’s FTX trading account.
The parent of Genesis is DCG. If Genesis holds derivatives, it is involved in leveraging.
Secondly, on Nov. 11, 2022 we saw that …’Crypto investor Digital Currency Group is giving an equity infusion of $140 million to Genesis Global Trading, a company within its portfolio.’… The term ‘an equity infusion’ is quite a broad term and could mean a lot of things.
It seems obvious in this case that Genesis was in some sort of liquidity crunch and apparently needed the $140 Million to keep the doors open (it wasn’t because the business was doing super and the parent wanted to make more money!). Was it because Genesis had been leveraging their bets with debt and the bet got tied up in a failed company ($175 Mill ‘locked’ in FTX) and they had to meet a margin call and get their account up to an acceptable level of equity to settle the debt? The $175 Million ‘locked’ in FTX was revealed on Nov. 10, 2022. DCG came through with the ‘equity infusion’ on Nov. 11, 2022. Do you believe in coincidences? If it was a margin call it probably happened due to the leveraging of pledged assets. Is that what ‘in locked funds’ means in double speak?
Then today we see: The lending arm of crypto investment bank Genesis Global Trading is temporarily suspending redemptions and new loan originations in the wake of FTX’s collapse, Interim CEO Derar Islim told customers on a call Wednesday.’…(Coindesk ‘Genesis’ Crypto-Lending Unit Is Halting Customer Withdrawals in Wake of FTX Collapse’ 11/16/22)
I would say that when the equity of the ‘house’ (Genesis) is below acceptable levels of risk, you stop lending money to people because they don’t have enough of a buffer to suffer the hit of another large negative event. Most likely a condition of them receiving the ‘equity infusion’ on 11/11/22. ‘Big Papa (DCG)’ IMHO had spoken.
How big is ‘Big Papa’? Let’s try to put it in perspective.
When I wrote my first article on FTX when all of this started (11/8/22) I was naive in thinking it was all about one company-FTX. After the bankruptcy was filed, we could see that FTX was a conglomerate of over 130 companies!
When I go to the DCG website and click on the ‘portfolio’ tab I count 166 crypto related business that DCG has an ownership interest in. One of those companies is FTX.
So DCG, a conglomerate of crypto conglomerates, has a stake in FTX, a company who runs 130 companies itself. The effects of the FTX bankruptcy and its’ effect on the 130 companies that FTX owns will not be fully realized for weeks or perhaps months.
DCG also owns Genesis Trading which according to the Genesis website: …’Genesis connects institutional investors to digital asset markets. Trade, borrow, hedge, generate yield and more.’… so Genesis is lending, hedging and generating yield (which would typically involve leveraging).
If FTX owned 130 companies, just how many does Genesis Trading own? According to the Genesis website:
“Genesis is the biggest trading desk for professional investors in cryptocurrency markets.”
— FINANCIAL TIMES, JANUARY 2022
“A digital asset prime brokerage – akin to Goldman Sachs in the traditional financial world – that offers its clients a full suite of services.”
— FORTUNE, MAY 2020
According to Financial Times and Fortune, Genesis is a behemoth. Just in the 3rd quarter of 2022 they traded $18.7 Billion in notional derivatives and had $2.8 Billion in active loans.
This ‘behemoth’ is the same one who received the ‘equity infusion’ from its parent, CDG. This same firm had $130.8 Billion of loan originations to institutions in 2021. Why would they need $140 Million from their parent company? Do you feel good about the prospects of this company after what happened to FTX considering Genesis still has FTX as one of its holdings on its website? How many companies does Genesis own/control?
DCG lists 166 crypto concerns (if I counted right) in its portfolio. FTX controlled over 130 companies. How many companies does each of these crypto concerns in the DCG portfolio hold? There are 165 (times how many companies each one controls) more to contend with if FTX is the crack that set off the tremor in the financial markets.
If DCG is as it claims (and IMHO I believe it is) …’The epicenter of the bitcoin and blockchain industry’, I believe that it truly will be at the epicenter of the most monumental financial earthquake in history. It is already involved with FTX, so that’s quite a start.
DCG gave Genesis Trading $140 Million in an ‘equity infusion’ after the FTX bankruptcy. DCG has positions/ownership in 164 (not counting FTX) other companies (all who own other companies). Just how many more times can Digital Currency Group afford to do this kind of bailout before it reaches its own liquidity crisis and says ‘no more’? DCG is already on the hook for FTX and now has Genesis Trading to bail out. In the 166 companies, just how much debt and leveraging is on the books? How much in derivatives has all that debt bought and how much of it will fail when the rest of the largesse of the crypto space falls precipitously like the star of Sam Bankman-Fried and FTX ?
Genesis has a problem in being exposed to the worst of crypto at the wrong time. In late June 2022 Yahoo Finance ran this story on Genesis: Genesis Faces ‘Hundreds of Millions’ in Losses as 3AC Exposure Swamps Crypto Lenders: Sources. FTX appears on the Genesis ‘Portfolio’ page of their website so they have FTX to negatively affect them. Crypto exchange Gemini warned customers today that there may be delays for withdrawals on its Earn product. This is due to the fact that Genesis is a lending partner to Gemini. And finally, Genesis has retained professional advisors to help them handle the storm coming at them.
There is no telling just how big and wide the problems of FTX, Genesis and DCG will spread. What can you do (this is not financial advice)?
Get out of the way.
Food. Water (and a way to purify). Shelter. Energy. Protection. If you have the wherewithal, precious metals have been money for 5,000 years and will last the rest of the days of the earth until the Lord Jesus returns for His people.
IMHO, do not be in the ‘The epicenter of the bitcoin and blockchain industry’. It is a vast and violent quake zone we find ourselves in. Everyone will feel it. Some will lose all. All will lose some. Some will move their assets into the things that will see them through the convulsions that will change the landscape forever. A few will put their trust into hands of an eternal God who died on a cross and who, when He died, the earth shook and the world would never be the same. That is the only kind of earthquake that was beneficial for mankind.
In whose mercy will find yourself when this earthquake hits?
———-
If you appreciate this article can you consider a gift to Encouraging Angels for the intelligence we provided today? Click this link to give. We need the support. Links to this article are encouraged. Reproductions of this writing are only allowed by written permission of the author.
All rights reserved.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ew/pb-nbpj8-1316e17
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ew/pb-6g4da-13155dd
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.europereloaded.com/the-snake-venom-hypothesis-of-covid-dr-bryan-ardis-video/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ew/pb-mdsb8-13139f6
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ew/pb-mdsb8-13139f6
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
All Rights Reserved.
Encouraging Angels is a tax-exempt 501(c)(3) organization that promotes Disability and Speical Needs awareness as well as delivering music services to those affected.
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