UST (Terra) and LUNA was A SCAM!

Juicy Details here

basically Do Kwon the founder closed the business entity in South Korea before the big crash… then moved to Singapore…

He also sent 2 billion with of BitCoin to Binance before the crash.. it was intended to prop up Terra but ended up none of it was used to fight the crisis… now he holds 2 billion and is happily enjoying his time in Singapore

20% interest? easy Ponzi scheme…

I had read up on UST and LUNA before… but I didn’t really understand it that much… till today many still do not know how it really works….. even those that when 100% all-in heavy on UST or LUNA…

Well Crypto folks claimed they had done their due diligence and they were just “unlucky”… when they win they are smart and we non-cryptos have fun staying poor… when they lose they are unlucky or they got scammed by the evil… in the end of the day the losers will never blame themselves and will never take responsibility for their actions

When is comes to investing.. you are investing your own money… you are responsible for your own decisions.. win or lose.. blame no one but yourself.. if you cannot afford to lose then put it all in your fixed deposits and take no risk.. if u want to take risk to earn a higher return then you have to put in effort to research… even if you are DCA-ing into ETF.. you got to know what’s inside the ETF and your exposure…

Low effort or blindly copying is why many folks will remain poor for their entire lives.. Do Kwon is very smart… he baited the fools with a 20% yield and now he sits on 2 billion… but he is facing police reports and lawsuits… the Crypto Cult will be coming to Singapore to hunt him down… its so bad that the police is now protecting his wife… my read is he will fly off and head to somewhere like Dubai… in the end he wins because the government cannot confiscate his 2 billion… GG WP good game well played!

This will not be the last Crypto Scam…and there will be bigger blow ups… like the Tether (USDT) that I warned about.. Recession is coming.. Rates are going up… the House of Cards is falling… Castles build in the Sky will come crashing down… so what to do?

Stop speculating and hold only super solid companies for long term.. for the US market my top picks are APPL GOOG MSFT.. these 3 are the ones that you can sleep well at night… but if u wanna take on more risk then go for FB and BABA.. higher risk higher returns…

Cash is still bad when inflation is heading towards 10%… the food crisis is coming as India just ban wheat export… everything needs wheat.. not only your bread.. so many products you see in those boxes and packages in the super market… wheat is like the basic for food and there is not enough of it!

China will get better in the 2nd half of 2022.. but I think for the west… US/Europe is facing a lot of downside and will only get better in 2023… the simpler thinking is first in first out… China crashed first and will get out of the bear first… that’s my thinking but I may be wrong

I also believed the China market has bottom off already… so I not too worried at all… just waiting for Alibaba results on 26th… else I just go relax… I sleep well at night because I hold no Crypto… I hold no TSLA… I hold not ARKK or related stocks…

GL TK
ML