AN APES GUIDE TO CRYPTO PART 5
How Wall St. conquered the wild west of crypto by laundering funds obtained from illegal naked short selling practices through stock market exchanges worldwide.
THE FLIGHT TO QUALITY:
MAY 4TH and Cinco De Buyo day
That wonderful little bit of NSCC 802 legislation that was key to try and stop malicious short selling in the markets.
On page 14 https://www.sec.gov/rules/sro/nscc-an/2021/34-91720.pdf it states that “Qualifying liquid resources” to include, among other things, lines of credit without material adverse change provisions, that are readily available and convertible into cash.
By parking money with the Fed in the form of reverse repo rates, many institutions are no longer receiving the hefty profits they once were achieving through crypto, DeFi or Staking, not just SHF but all of Wall st.
Timeline courtesy of u/Taimpeng tyvm kind ape, you rock
End of Q1/March: DTC/creditors realize this is not going away.
April 1st, SR-DTC-2021-005 announced for review – The nuclear option (“MAD”). Would blow up GME shorts and also everyone else in the market running similar scams.
April 8th, SR-NSCC-2021-802 announced for review, comments, etc. – A tactical nuke revealed. By removing the ability to leverage crypto markets simultaneously for revenue and collateral reqs, the short position will be unsustainable.
April 12th, SR-DTC-2021-005 PULLED (INDEFINITELY) FOR “REFORMATTING” – With the tactical nuke in place, no need to keep full-scale Armageddon on the table, right?
May 4th, SR-NSCC-2021-802 takes effect – Tactical nuke detonation.
May 5th+ Overnight repos explode. Many DDs suggest the ON RRP is “a liquidity problem framed as a collateral problem”. It’s both because the tactical nuke hit both.
Now remember the way I mentioned several dates:
April 26th: this was the cut off point for NSCC 802 to be contested. It was not contested.
R C tweeted on apr 26th that everything was on track
April 29th was the date that NSCC 802 would start to be initiated to be completed by 4th May
R C tweeted on Apr 29th a meme of Mr Hanky
The penny drops……
The tidal waves from that iceberg crashing into the water are coming.
We sit and watch chess & checkers being played in the lobbies of Wall St. Soon it will be the game of dominos in the shadows that will shine the greatest light.
CHAPTER 7:
FIGHTING FIRE WITH FIRE: A GAMESTOP NFT
Are you ready to set a new ATH?
What is an NFT?
An NFT is a non-fungible token. That means it’s a token you can buy, sell, and hold. Unlike most cryptocurrencies, there may be very few or only one of an NFT, and they might be indivisible, meaning it may not be fungible with any other tokens.
NFTs can take a number of forms. Sometimes, they can be redeemed for a physical object. Sometimes the owner is entitled to an experience, like a movie or a phone call. Sometimes they are associated with a digital image. Sometimes they are associated with nothing at all.
SOMETIMES THEY CAN EVEN BE WORTH -1/12 DVF
BUY, HODL, BUCKLE UP. Every path followed is the same path walked.
CANTSTOP. WONTSTOP. GAMESTOP. I am not a cat