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Brownstone Institute

Sam Bankman-Fried and the Missing Billions for Pandemic Planning

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11 minute read

From the Brownstone Institute

BY Jeffrey A. TuckerJEFFREY A. TUCKER

Yes, I watched the appalling scenes of Sam Bankman-Fried’s media tour. He repeatedly returns to the theme of his philanthropy: pandemic planning. What does this 30-year-old computer guy know about infectious disease? No more than Bill Gates did when he began his malanthropic crusade through the universities, journals, and nonprofits and imposed his lockdown-and-vaccinate ideology on them, thus compromising a whole generation of infectious-disease scientists.

Bankman-Fried saw how much influence this bought Gates and decided to replicate the experience in a mere few years in the midst of a pandemic. As we’ve documented, he gave millions but promised billions. The promise tends to be even more effective than money in the bank. All the better, he backed his “pandemic planning” support with $40 million (Elon Musk speculates it was far more) for politicians who shared his supposed passion to control infectious disease.

And so Sam of FTX, who seems to have stolen and otherwise misdirected billions from his own crypto scam, was invited to speak at a New York Timesevent called Dealbook. A seat in the audience cost $2,400. He had been booked for the gig long before because he was a darling of the left, having thrown around many millions to back Democrats in the midterms.

He was also loved for running the second-largest crypto exchange in the world while babbling left-wing prattle about effective altruism. He advertised himself as the world’s most generous billionaire at a mere 30 years old! He urged others to do the same, giving to his brother’s charity devoted to pandemic planning, just as an example.

With his disheveled look and halting speech patterns, he struck many as a genius. One would have to let go of all normal intuition to believe that, but here is where we are today.

The interview pitched a series of softball questions with the mask of a tough interrogation. Bankman-Fried replied with a bunch of financial-sounding mumbo jumbo that the interviewer could not really follow, so of course he gave him a pass. In the end, the interviewer and the audience gave the thief a round of applause for his frank answers and accessibility.

Sam claimed that his lawyers advised against this particular appearance. I don’t believe it. I suspect that his lawyers understand something very dark about our times. If you can bamboozle an audience at the New York Times, you stand a better chance of favorable treatment in a court of law. That’s why he is continuing his media rounds. Hey, why not a speaking tour to boot?

How did Bankman-Fried justify himself? Essentially he said that he had downplayed the downside risks in a possible bear market in which his tokens suddenly lost 90% of their value. He had not anticipated this. And, he seemed to imply, had the markets not changed direction, his company would be solvent. Hence, none of this is really his fault. It’s just what happens when the market winds change course.

By comparison, Bernie Madoff’s scam was rather simple. He used the money of new investors to pay a return to old investors. He gradually came to realize that he had better success in business by doing this than relying on market forces themselves. By offering a predictable 9 percent return, he could always attract new money in up markets or down markets. In a sense he was right: his Ponzi scheme lasted 20 years!

When the housing market crashed and the money dried up, and he could no longer find new chumps to pay the old chumps, he admitted it. He said he lied and that he was running a scam. He pled guilty, went to jail, and died. One son killed himself and the other died. His widow today lives a modest life, still reeling from the horribleness of it all.

Sam’s scheme was far more complicated. It involved mixing funds over a huge range of companies that he owned, so his own exchange had an open spigot of customer funds going to his own Alameda Research, which would use those funds to buy the token FTT in which customer funds were held. It was the same scam as Madoff but tokenized in a world that has stupidly come to believe that anyone can create a thing of value with a few mouse clicks and some incantations of the word blockchain.

Crucially, Bankman-Fried paid off all the right people along the way. He paid nonprofits, media companies, and politicians, and made all the right noises about the need to regulate the industry more than is currently the case. As a result, his media darling status persists even now, as the New York Times and MSNBC work hard daily to rehabilitate him, despite his not being able to account for some $20 billion in missing funds.

In the dystopian novel and film  The Hunger Games, the elites have divided society into many districts depending on their function and economic status. Only District One truly lives well, and here you find the greatest champions of the system, which is kept alive through top-down tyranny. The games themselves are designed to shore up regime stability by necessitating random sacrifices of the lives of kids forced into a zero-sum game of murder.

The whole thing looks implausible on first viewing. How could the richest of the rich sit by and watch, cheering on this blood-thirsty tragedy? On second thought, the whole thing is wholly believable. Elites socialize themselves to believe whatever it is that protects their wealth and status. That’s exactly why such a large crowd of people gathered at the New York Times to watch the validation and vindication of Sam, and they happily cheered his fake honesty and transparency at the end.

The display was disgusting but entirely predictable if you understand something about how our own hunger games are played. In this decade and a half of easy money, a whole class of people has risen to the top of the cultural echelon not by productive labor but by educational credentials and being part of the corporate float. They have come to believe that the system makes sense simply because it has benefited them.

This is why they so gladly took to pandemic controls when they were at their height. They would “stay home and stay safe” while the proletariat slogged through the streets carrying dinners in bags to drop off at doorsteps. In some extremely strange way, this felt like a utopia for the upper classes. This – and $10 trillion to back the whole scheme – is why the lockdowns lasted as long as they did.

We are nowhere close to getting to the bottom of the whole scam. SBF gave millions away to all sorts of institutions while marketing his grift as altruism. He later admitted that his fake-woke philosophizing was nothing but a cover, as it is for all these people, which is why his admission didn’t really disqualify him from continued membership in the class of media and business elites.

Nothing exposes the economic and financial hypocrisies of our time as much as this FTX caper. We can report some good news however: it is not long for the world. Elon Musk is demonstrating how a competent leader can take over a single company, fire 75 percent of its employees, make the platform work better than ever, and still possibly make a profit. For the sake of civilization, let us hope that the Musk model will inspire many coming corporate upheavals.

District One needs to be thoroughly cleansed and the sooner the better. The cleansing fire in our times takes the most implausible form one can imagine: positive real interest rates. If the Fed sticks to its agenda – and it likely will – we will see every manner of upheaval coming in the next six months. The court dockets will become even more full than they currently are, and there won’t be enough investigators available to unravel this and so many other scandals of our times.

Author

  • Jeffrey A. Tucker

    Jeffrey A. Tucker, Founder and President of the Brownstone Institute, is an economist and author. He has written 10 books, including Liberty or Lockdown, and thousands of articles in the scholarly and popular press. He writes a daily column on economics at The Epoch Times, and speaks widely on topics of economics, technology, social philosophy, and culture.

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Brownstone Institute

A Potpourri of the World’s Unexposed Scandals

Published on

From the Brownstone Institute

By  Bill Rice  

How many genuine, shocking – and unexposed – scandals actually occurred in the last four years?  To partially answer this question, I composed another of my List Columns.

The Most Epic of Scandals Might Be…

The world’s most epic scandal might be the massive number of citizens who’ve died prematurely in the last four years. This scandal could also be expressed as the vast number of people whose deaths were falsely attributed to Covid.

My main areas of focus – “early spread” – informed my thinking when I reached this stunning conclusion:  Almost every former living person said to have died “from Covid” probably did not die from Covid.

The scandal is that (unreported) “democide” occurred, meaning that government policies and deadly healthcare “guidance” more plausibly explain the millions of excess deaths that have occurred since late March 2020.

My research into early spread suggests that the real Infection Fatality Rate (IFR) of Covid should have already been known by the lockdowns of mid-March 2020.

If, as I believe, many millions of world citizens had already contracted this virus and had not died, the Covid IFR would be the same, or perhaps even lower, than the IFR for the common flu – said to be 1 death per 1,000 infections (0.1 percent).

Expressed differently, almost 100 percent of people who contracted this virus did not die from it – a fact which could and should have been known early in the “pandemic.” The fact this information was concealed from the public qualifies as a massive scandal.

Evidence That Would ‘Prove’ This Scandal

Furthermore, one does not need early spread “conjecture” to reach the conclusion that only a minute number of people who were infected by this virus later died from Covid.

After April 2020, a researcher could pick any large group or organization and simply ascertain how many people in these groups later died “from Covid.”

For example, more than 10,000 employees work for the CDC. About 10 months ago, I sent an email to the CDC and asked their media affairs department how many of the CDC’s own employees have died from Covid in the past three-plus years.

This question – which would be easy to answer – was never answered. This example of non-transparency is, to me,  a massive “tell” and should be “scandalous.”

To be more precise, if the CDC could document that, say, 10 of their employees had died from Covid, this would equate to a disease with a mortality risk identical to the flu.

My strong suspicion is that fewer than 10 CDC employees have died from Covid in the last four years, which would mean the CDC knows from its own large sample group that Covid is/was not more deadly than influenza.

I’ve performed the same extrapolations with other groups made up of citizens whose Covid deaths would have made headlines.

For example, hundreds of thousands if not millions of high school, college, and pro athletes must have contracted Covid by today’s date. However, it is a challenge to find one definitive case of a college or pro athlete who died from Covid.

For young athletes – roughly ages 14 to 40 – the Covid IFR is either 0.0000 percent or very close to this microscopic fraction.

One question that should be obvious given the “athlete” example is why would any athlete want or need an experimental new mRNA “vaccine” when there’s a zero-percent chance this disease would ever kill this person?

The scandal is that sports authorities – uncritically accepting “guidance” from public health officials – either mandated or strongly encouraged (via coercion) that every athlete in the world receive Covid shots and then, later, booster shots.

Of course, the fact these shots would be far more likely to produce death or serious adverse events than a bout with Covid should be a massive scandal.

More Scandals

Needless to say, all the major pediatrician groups issued the same guidance for children.

In Pike County, Alabama, I can report that in four years no child/student between the ages of 5 and 18 has died from Covid.

I also recognize that the authorized  “fact” is that millions of Americans have now “died from Covid.” However, I believe this figure is a scandalous lie, one supported by PCR test results that would be questioned in a world where investigating certain scandals was not taboo.

Yet another scandal is that officials and the press de-emphasized the fact the vast majority of alleged victims were over the age of 79, had multiple comorbid conditions, were often nursing home residents, and, among the non-elderly, came from the poorest sections of society.

These revelations – which would not advance the desired narrative that everyone should be very afraid – are similar to many great scandals that have been exposed from time to time in history.

Namely, officials in positions of power and trust clearly conspired to cover up or conceal information that would have exposed their own malfeasance, professional incompetence, and/or graft.

This Might Be the No. 1 Scandal of Our Times

As I’ve written ad nauseam, perhaps the most stunning scandal of our times is that all-important “truth-seeking” organizations have become completely captured.

At the top of this list are members of the so-called Fourth Estate or “watchdog” press (at least in the corporate or “mainstream” media).

In previous articles, I’ve estimated that at least 40,000 Americans work as full-time journalists or editors for mainstream “news organizations.” Hundreds of MSM news-gathering organizations “serve” their readers and viewers.

In this very large group, I can’t think of one journalist, editor, publisher, or news organization who endeavored to expose any of the dubious claims of the public health establishment.

When 100 percent of professionals charged with exposing scandals are themselves working to conceal shocking revelations…this too should qualify as a massive scandal.

To the above “captured classes” one could add college professors and administrators, 99 percent of plaintiffs’ trial lawyers, 100 percent of CEOs of major corporations, almost all elected politicians, and, with the exception of perhaps Sweden, every one of the public health agencies in the world, plus all major medical groups and prestigious science journals.

Or This Might Be Our Greatest Scandal

Yet another scandal – perhaps the most sinister of them all – would be the coordinated conspiracy to silence, muffle, intimidate, bully, cancel, demonetize, and stigmatize the classes of brave and intelligent dissidents who have attempted to reveal a litany of shocking truths.

The Censorship Industrial Complex (CIC) is not a figment of a conspiracy theorist’s imagination.

The CIC is as real as Media Matters, News Guard, The Trusted News Initiative, the Stanford Virality Project, and the 15,000-plus “content moderators” who probably still work for Facebook.

Government officials in myriad agencies of “President” Joe Biden’s administration constantly pressured social media companies to censor content that didn’t fit the authorized narrative (although these bullying projects didn’t require much arm-twisting).

Here, the scandal is that the country’s “adults in the room” were identified as grave threats to the agenda of the Powers that Be and were targeted for extreme censorship and punishment.

When people and organizations principled enough to try to expose scandals are targeted by the State and the State’s crony partners, this guarantees future scandals are unlikely to be exposed…which means the same unexposed leaders are going to continue to inflict even greater harm on the world population.

This Scandal Is Hard to Quantify

Other scandals are more difficult to quantify. For example, it’s impossible to know how many citizens now “self-censor” because they know the topics they should not discuss outside of conversations with close friends.

This point perhaps illustrates the state of the world’s “New Normal” – a now-accepted term that is scandalous if one simply thinks about the predicates of this modifier.

It should be a scandal that the vast majority of world citizens now eagerly submit to or comply with the dictates and speech parameters imposed on them by the world’s leadership classes.

The “New Normal” connotes that one should accept increasing assaults on previously sacrosanct civil liberties.

What is considered “normal” – and should now be accepted without protest – was, somehow, changed.

As I routinely write, what the world has lived through the past four-plus years is, in fact, a New Abnormal.

This Orwellian change of definition would qualify as a shocking scandal except for the fact most people now self-censor to remain in the perceived safety of their social and workplace herds.

The bottom line – a sad one – might be that none of the above scandals would have been possible if more members of the public had been capable of critical thinking and exhibited a modicum of civic courage.

As it turns out, the exposure of scandals would require large numbers of citizens to look into the mirror (or their souls) and perform self-analysis, an exercise in introspection that would not be pain-free.

It’s also a scandal our leaders knew they could manipulate the masses so easily.

Considering all of these points, it seems to me that the captured leadership classes must have known that the vast majority of the population would trust the veracity of their claims and policy prescriptions.

That is, they knew there would be no great pushback from “the masses.”

If the above observation isn’t a scandal, it’s depressing to admit or acknowledge this is what happened.

To End on a Hopeful Note

What gives millions of citizens hope is that, belatedly, more citizens might be growing weary of living in a world where every scandal cannot be exposed.

Donald Trump winning a presidential election by margins “too big to steal” is a sign of national hope.

Mr. Trump nominating RFK, Jr. to supervise the CDC, NIH, and FDA is definitely a sign of hope, an appointment that must outrage and terrify the world’s previous leadership classes.

For far too long, America’s greatest scandal has been that no important scandals can be exposed. Today, however, it seems possible this state of affairs might not remain our New Normal forever.

Republished from the author’s Substack

Author

Bill Rice, Jr. is a freelance journalist in Troy, Alabama.

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Brownstone Institute

Freedumb, You Say?

Published on

From the Brownstone Institute

By Gabrielle Bauer 

“Authorities have attacked, detained, prosecuted, and in some cases killed critics, broken up peaceful protests, closed media outlets, and enacted vague laws criminalizing speech that they claim threatens public health”

Didn’t give much thought to freedom until four years ago, at age 63. Freedom was just there, like the water surrounding a goldfish. And then the Covid-19 pandemic blew in, the world locked down, and admonitions to “stay the ‘$^#&’ home” blazed through social media. No freedom was too important to discard in the name of public safety: jobs, family businesses, artistic endeavours, public meetings, social connections that kept despair at bay, all took a backseat to the grim business of saving grandma (who ended up getting Covid anyway). No discussion of moral or practical trade-offs, no pushback from the press, nothing. It felt wrong to me on a cellular level.

Apparently I was the only one in my middle-class liberal circle to harbour misgivings about this astonishing new world. If I tried, ever so timidly, to articulate my concerns on Facebook or Twitter, the online warriors shot back with a string of epithets. “Go lick a pole and catch the virus,” said one. “Crawl back into your cave, troglodyte,” said another. And my all-time favourite: “You’re nothing but a mouth-breathing Trumptard.”

From the get-go, I perceived Covid as more of a philosophical problem than a scientific one. As I wrote on more than one occasion, science can inform our decisions, but not dictate them. What ultimately powers our choices are the values we hold. I saw Covid as a morality play, with freedom and safety cast as the duelling protagonists, and it looked like safety was skipping to an easy victory.

It was a heady time for the health bureaucrats, whose increasingly arcane rules betrayed a naked impulse to control: the Canadian high-school students required to use masks on both their faces and their wind instruments during band practice, the schoolchildren forced (for hygiene reasons) to study on their knees for hours in an Alaska classroom, the “glory-hole” sex advised by the British Columbia Centre for Disease Control. The lack of public pushback against these absurdities heightened my awareness of the fragility of our freedoms.

One of the earliest memes to surface during the pandemic was “muh freedumb.” The locution became a shorthand for a stock character – a tattooed man wearing camo gear and a baseball cap, spewing viral particles while yelling about his rights. A selfish idiot. The memes kept coming: “Warning, cliff ahead: keep driving, freedom fighter.” “Personal freedom is the preoccupation of adult children.” Freedom, for centuries an aspiration of democratic societies, turned into a laughing stock.

Eventually, pro-freedom voices began trickling into the public arena. I wasn’t alone, after all. There were others who understood, in the words of Telegraph writer Janet Daley, that the institutional response to Covid-19 had steamrolled over “the dimension of human experience which gives meaning and value to private life.” Lionel Shriver decried how “across the Western world, freedoms that citizens took for granted seven months ago have been revoked at a stroke.” And Laura Dodsworth brought tears to my eyes when she wrote, in her 2021 book A State of Fear, that she feared authoritarianism more than death.

Once the vaccines rolled out, the war on freedom of conscience went nuclear. If you breathed a word against the products, or even the mandates, you were “literally killing people.” The hostility towards the “unvaxxed” culminated in a Toronto Star front page showcasing public vitriol, splashed with such sentiments as: “I honestly don’t care if they die from Covid. Not even a little bit.”

This, too, felt viscerally wrong. I knew several people who had refused the vaccine, and they all had well-articulated reasons for their stance. If they didn’t fully trust the “safe and effective” bromide recycled by all government and pharmaceutical industry spokespeople, I could hardly blame them. (And I say this as someone who writes for Big Pharma and got five Covid shots.)

One of the most deplorable casualties of Covid culture was freedom of expression, a core principle in the United Nations’ Universal Declaration of Human Rights. Experts speaking publicly about the harms of lockdown faced systematic ostracism from mainstream media, especially left-wing news outlets. By early 2021, Human Rights Watch estimated that at least 83 governments worldwide had used the Covid-19 pandemic to violate the lawful exercise of free speech and peaceful assembly.

“Authorities have attacked, detained, prosecuted, and in some cases killed critics, broken up peaceful protests, closed media outlets, and enacted vague laws criminalizing speech that they claim threatens public health,” the group wrote in a media release. “The victims include journalists, activists, healthcare workers, political opposition groups, and others who have criticized government responses to the coronavirus.”

But what about misinformation? Doesn’t it kill people? Newsflash: misinformation has always existed, even before TikTok. It’s up to each of us to sift the credible folks from the cranks. The best defence against misinformation is better information, and it’s the policy wonks’ job to provide it. Modern science itself depends on this tug-of-war of ideas, which filters out weaker hypotheses and moves stronger ones ahead for further testing.

Besides, misinformation comes not just from cranks, but from “official sources” – especially those tasked with persuading the public, rather than informing it. Remember when Rochelle Walensky, former director of the Centers for Disease Control and Prevention in the US, asserted that “vaccinated people do not carry the virus?” Or when Anthony Fauci maintained that getting vaccinated makes you a “dead end” in the chain of transmission? I rest my case.

The marketplace of ideas is like a souk, with a lot of hollering and arguing and the odd snatched purse – and that’s exactly how it should be. It’s an ingenious and irreplaceable process for getting to the truth. There are few ideas too sacrosanct to question or too ridiculous to consider. That’s why, unlike just about everyone in my left-leaning circle, I take no issue with Elon Musk’s shakedown of the old Twitter, now the Wild West of X.

Under Musk’s algorithms, my feed has become a true philosophical souk, with wildly disparate views smashing into each other, leaving me to sift through the rubble in search of a gold nugget or two. Love him or hate him, Musk offers a much-needed counterweight to the ideological lockstep in much of the mainstream media. And when it comes to free speech, Musk has put his money where his mouth is: when media personality Keith Olbermann recently hopped on X, where he boasts a million followers, to call for Musk’s arrest and detainment, Musk made no move to censor him. Works for me.

While the “old normal” has thankfully returned to our daily lives, save the odd mask in a shopping mall or subway car, the stench of censorship that blew in with the pandemic has yet to dissipate. An obsession with disinformation permeates the zeitgeist, spurring lawmakers in several Western countries to censor the flow of thoughts and ideas that gives a free society its pulse.

We cannot excise personal freedom from a democratic society, even in the interests of the “public good,” without poisoning the roots of democracy itself. Article 3 of UNESCO’s 2005 Universal Declaration of Bioethics and Human Rights states this plainly: “The interests and welfare of the individual should have priority over the sole interest of science or society.” In our post-pandemic reality, the statement seems almost quaint. Nonetheless, it expresses an enduring truth: that a democracy must never discard the idea of freedom – even in a pandemic.

Freedom desperately needs a comeback from its current incarnation as an expendable frill. In my own small way I’m trying to make this happen: never much of an activist before Covid, I’m now part of a small group preparing to launch a Free Speech Union in Canada, modelled after the highly successful one in the UK. The organisation will offer legal advice to individuals facing censorship, cancellation, or job loss because of their words. I look forward to supporting people caught in this anti-freedom web, including those whose words I heartily disagree with.

My newfound respect for free speech is also what propels me to keep talking about Covid. The response to the pandemic exceeded the bounds of public health, and we need to expose the forces that drove it. Here’s Daley again: “The world went crazy. There is no other way to account for what was an almost nihilistic dismantling not just of particular liberties and rights, but of the very idea of liberty.” We can’t let it happen again.

Republished from Perspective Media

Author

Gabrielle Bauer is a Toronto health and medical writer who has won six national awards for her magazine journalism. She has written three books: Tokyo, My Everest, co-winner of the Canada-Japan Book Prize, Waltzing The Tango, finalist in the Edna Staebler creative nonfiction award, and most recently, the pandemic book BLINDSIGHT IS 2020, published by the Brownstone Institute in 2023

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