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The Ponzi Papers: A Summary of (Cryptocurrency) The World's Largest Criminal Enterprise

More information and links to key evidence:

Cryptocurrency is a Ponzi Scheme:

When first researching the SVB collapse, we found several clues that pointed to cryptocurrency, which is what threw the researchers into the rabbit hole:

  • Silvergate Bank, which was used almost exclusively by the crypto industry, collapsed days prior to SVB.

  • The word “cryptocurrency” shows up 42 times on the 2023 Financial Crisis Wikipedia Page, which suggested that it may have something to do with crypto.

  • Peter Thiel, whose venture capital firm Founders Fund started the bank run, is a long-time crypto promoter. He gave the keynote speech at the 2022 Bitcoin Conference, for instance.

  • While people in the media were blaming regional banking for the financial crisis, we found that several of the most alarmist voices had previously promoted cryptocurrency. Former Federal Reserve governor Kevin Warsh wrote an article called The U.S. Needs Economic Regime Change in the wake of the SVB collapse, and had promoted Bitcoin here, for example.

From there, we combed through all of Founders Fund’s investments to get a sense of what they were doing with cryptocurrency. A huge break was discovering partner Napoleon Ta’s role as the company’s crypto expert, then following his actions and his family trust, CN2T Capital LLC.

In brief, cryptocurrency was planned and created intentionally as a global, decentralized Ponzi scheme out of Stanford University, where Thiel attended.

Through crypto company Polychain and its “Ecosystem” Funds, several associates of Founders Fund invested in blockchain tech for the express purpose of:

  1. Using “Zero-knowledge proofs” to allow blockchain transactions to be hidden

  2. Using “Layer 2” technology to move assets from public to private blockchains and vice verse

  3. Building a high-frequency trading network via Napoleon Ta’s Tagomi Systems.

With all of the above, they were able to secretly funnel out all of the cash that was invested in cryptocurrency and/or shuttle crypto assets across different exchanges.

Important documents include:

  • Summer Highlands LTD SEC Registration: A very shady registration for an offshore company using tax loopholes to create an offshore exchange of unregulated securities. This appears to be an early dual crypto-currency exchange in the British Virgin Islands and China.

  • Greenhouse v. Polychain: A very informative lawsuit: Polychain’s management effectively stole SAFTs (a crypto derivative asset) from its partners on behalf of mysterious and powerful associates. At nearly the exact same time, Orchid Labs, which Polychain and other related Silicon Valley VCs backed, reported a SAFT offering with the SEC. This suggests possible theft to hide provenance.

  • Clinkle: A bizarre failed start-up the Thiel invested in - they had the largest seed funding round in VC history, promising mysterious sound-based payments technology. The tech never came to light and the company went up in smoke due to well-publicized unforced errors. Along with big Silicon Valley names, investors included Richard Branson, Ross Perot Jr., (A Stanford University investment fund), and multiple Stanford Professors.

  • Westpac, Offshore Bank Accounts in the Cook Islands: One of the investors in Clinkle was Stanford professor (and WestPac bank CEO) Robert Joss. This is his only case study, and it appears to be a criminal recruitment document, looking for Stanford students with no ethical qualms about unregulated offshore banking.

  • Affirm Holdings SEC Investors Rights Agreement: Affirm is a PayPal spin-off, whose stock has long trended toward zero, and appears to be used to move their money into the crypto Ponzi pool. This investors list includes some the richest and most powerful people on the planet who are seemingly losing their money.

  • Starkware Investors List: This Israeli crypto company investors’ list includes virtually all the big names in Silicon Valley, highlighting just how many have gotten into the crypto theft bonanza.

  • On that note, there is fundamentally no difference between Bitcoin and any other “alt-coin” cryptocurrency. It appears that the smaller Stanford + Harvard + Silicon Valley crew were the original investors, then others in their networks saw how much money they had stolen with Bitcoin, and they all flooded into the space with more and more alt-coins. They are positioned as alternatives, but they’re all the same Ponzi scheme.

Additional information, such as a damning Bitcoin volume anomaly, is found in The Ponzi Papers Part 4.

Big Ponzi Players:

Notably, a super-deluxe trillion-dollar Ponzi industry doesn’t arise out of nowhere. Cryptocurrency was built on top of networks of existing Ponzi scheme operators who had grown larger and larger.

For more details on what Ponzi schemes entail, we recommend the Wikipedia page, which provides an excellent overview.

Not covered in the booklet is what makes for good Ponzi schemes. Since the goal is to get victims to invest in something fake, they need to be investments that you can’t see, or that you can fake evidence for. Among the hundreds of Ponzi schemes we identified, we found a few flavors:

  • “Far away” Ponzi schemes, where the inevstor would never actually see where the investment is occurring. Examples include offshore drilling (which was a favorite of Thiel’s early VC funds), mining for rare earth metals in remote locations, or Seasteading (another Thiel favorite) where they sold libertarians on the idea that they would build manmade islands in intenternational waters, away from evil government regulation.

  • A subset of these are “adventurer” Ponzi schemes, favored by Richard Branson. Virgin Galactic promised to take people to space, but the company failed. Virgin Oceanic promised to take people to the deep sea but never did.

  • While we’re on Branson, huge shout-out to Virgin Cola, whose obvious Ponzi kayfabe helped crack the code: A Coca-Cola executive feared Virgin Cola and bribed convenience stores not to carry it. Since Reportedly, Virgin Cola couldn’t compete with that subterfuge and went bankrupt. Afterwards, the Coca-Cola exec was rewarded with a position as Virgin Group’s account manager.

  • Bullshit science Ponzi Schemes. Since they focus on speculative technology, they always have a justification when the investment fails. Theranos would be a good example, except her billionaire investors were in on it.

  • This was the crux of Jeffrey Epstein’s Program for Evolutionary Dynamics at Harvard University, which he promoted via Scientific American magazine.

  • There are countless examples on, an $8 billion Ponzi factory out of Stanford: Theranos-like companies that promise fantastical diagnostics with a drop of blood; retinal scans and breath inhalers that do the same; manufacturing made out of (thin) air; and Tombot, a poorly-disguised puppet that promises AI-powered therapy for elderly dementia payments.

  • Elon Musk has his own example with Neuralink, which promised sewing computer interfaces into the brain.

  • More recently, Stanford Alum and crypto/AI guru Sam Altman has offered the absurd claim that his WorldCoin project will provide universal basic income cryptocurrency through the mysterious power of a retinal-scanning orb.

Richard Branson: His career has been littered with Ponzi-shaped failures, but he’s made billions nonetheless. We’ve got a list of several here.

The Clintons: We’ve got a breakdown of the Clinton Global Initiative’s crypto connections here (written in code, since the original posts got removed). If you Google any other speakers at Clinton Global Initiative along with the words “blockchain” or “crypto”, you’ll likely find many more crypto connections.

Notably, many of these people work in the government or non-profit industries, which helps highlight just how rampant this Ponzi theft has spread.

As mentioned, Jeffrey Epstein allegedly co-founded Clinton Global Initiative, which helps explain why Bill Clinton had flown on Epstein’s plane dozens of times.

The purpose of so many “charities” associated with the mega-rich and powerful is international laundering: They’re investing billions in organized crime network under the guise of goodwill. Because Ponzi schemes require a pool of cash on hand (to pay out investors whenever they sell their assets), the vast majority of this cash was used to seed crypto liquidity pools in various exchanges. These investors would expect to “lose” their money, but would later receive huge returns elsewhere when victims’ cash gets stolen out of the crypto exchanges.

See Effective Altruism for an entire cottage industry out of Silicon alley that is used to justify mega-donations for this purpose. Notably, Sam Bankman-Fried’s mother, Stanford Professor Linda Fried, is a huge proponent.

Ross Perot: While we have less information on older companies his Electronic Data Systems stock had one of the largest rises and then a sudden collapse, giving Perot the world record for most money lost in a single day.

Beyond that, his role in the criminal network becomes clear once we know that George H.W. Bush and Bill Clinton were on the same side: Perot ran as a third-party candidate in 1992 to take votes away from Bush and give Clinton the victory.

And as mentioned, his son was one of the big-time investors in Clinkle, which was one of the first money laundering fronts for cryptocurrency.

Mark Cuban: Along with buying Perot Systems, Cuban has been a huge crypto proponent.

Elizabeth Holmes: Her story is well-known (except that her investors were in on it, which we can tell through the repetition of the scam from Clinkle (with both companies out of Stanford), the fact that all of her investors have gotten much richer, and that she recently got a puff piece written up in the New York Times. Notably, her father was an Enron executive.

Secret Kleptocracy: You already have a sea of evidence that our society has not functioned at all like a representative democracy since 1989, which we’ve put together here.

You can find Bill Clinton’s 1988 DNC speech here. The Rob Lowe Sex Tape is notable because it was filmed at the same event days before (Lowe was there in support of Dukakis) and includes a clip of Lowe meeting with Tom Hayden of the Chicago Seven. From that, we know it’s political blackmail.

For a detailed write-up on the speech, see our long-form essay here. In a nutshell, the evidence in the speech includes:

  • The early reference to Clinton getting excited that Dukakis is “squeaky clean”

  • The odd reference to Mike and Kitty Dukakis being “different as black and white”, but that soon we’ll see that Kitty Dukakis is a wonderful role model for all of the country’s children.

  • The bizarre anecdote where he brags about boys from the Ozarks running a crack ring into Detroit.

  • The fact that when taken as a whole, the speech makes no sense whatsoever unless it’s a mob boss slyly admitting to blackmail.

For more on Bush passing Clinton torch, we recommend Ghost Stories for the End of the World’s Arkansas episodes. We also recommend the entire Octopus series for an excellent account of Danny Casolaro and the Inslaw Affair. The Ponzi Papers/Dipshit Secrets research is the best validation of the theories of a criminal deep state that Casolaro called “The Octopus.”


Throughout this research, it became clear that many lies in the media were being sold as truths:

  • Blaming the SVB collapse on regional banking but secretly promoting crypto

  • Clinkle’s failure had a very convenient justification of their failure where images were leaked of the CEO and Richard Branson setting money on fire (linked above).

  • Richard Branson’s Virgin Cola decline, mentioned above.

  • All of the political debates, press conferences, and social media posts where these secret con artist allies attack one another. For instance, Elizabeth Warren has taken a progressive stance against Elon Musk, but her Harvard connections make clear that she is in their same crime crew.

As mentioned, these lies are necessary for Ponzi schemes - otherwise, the Ponzi nature would be obvious. Intuit, which invested in crypto via Affirm Holdings has two notable bits of kayfabe:

  • First, Stanford Law professor Joseph Bankman (father of Sam Bankman-Fried, and likely one of the architects of cryptocurrency) has taken a public stance against Intuit, promoting simpler tax returns. However, when we know that they both have connections to cryptocurrency, we recognize this as kayfabe intended to make them seem like enemies.

  • Second, Intuit has been notably pro-Trans, even as Budweiser and Target suffered fake (or at least infinitely less impactful than reported) anti-trans and anti-LGBTQ boycotts. It’s highly likely that Intuit is doing this just so they can justify the loss of billions (that they stole out of Intuit via the crypto theft) with a fake anti-trans boycott.

Another important propaganda technique is the Theory of Bullshit developed out of Princeton University: “The liar cares about the truth and attempts to hide it; the bullshitter doesn’t care if what they say is true or false.” Notable bullshitters include Donald Trump, Elon Musk, and Peter Thiel.

By mixing truth and lies with no concern for either, these criminals help create so-called “Post-Truth America:” They give everybody different slices of truth and lies to help divide us into our online social tribes. Once they get bullshitters bullshitting at one another, the public can no longer tell which way is up and the actual truth (that they’re all supervillain con artists) remains hidden.

When Shit Hits the Fan

We know there will be an economic collapse because trillions of dollars were already stolen out of our stock market and it hasn’t yet been revealed. And we know it will be soon, because the March 2023 bank failures signaled that they were no longer investing in the crypto Ponzi pool: It is now exclusively trending downward, and will go insolvent at some point before long.

Therefore, they’ll need one of hell of a fireworks show to justify it.

We know that the Titan sub will play a role because there is no video evidence it can go to deep sea, which all successful adventure tourism companies would have. Meanwhile, people in this crime network all offered up statements that it was legitimate (if not safe), including a Simpsons writer, a Navy officer, and a friend of Richard Branson. Meanwhile, it looks precisely like Branson’s Virgin Oceanic Ponzi Scheme, mentioned above.

Meanwhile, there has been a spread of Titanic Conspiracy Theories over the past few years. Once we understood that all of the main characters in Pizzagate and QAnon were in the same group of financial criminals, it became clear that they did this to spread misinformation and have the public produce their own: It’s why the media repeatedly promoted these theories (even as they “cast doubt” on them). The Titanic conspiracy theories appear to be setting up a bizarre geopolitical event at that location as part of some larger attack, so people will latch onto these bunk theories in search of explanations.

Because so many Silicon Valley companies have been used to funnel out crypto money (as evidenced by chasing their fund and looking at their Ponzi-shaped stocks), we can expect several of these companies to collapse completely (Musk appears to have been running Twitter into the ground since the day he bought it). This would have the added benefit (for the criminals) of shutting down social media communication channels completely.

Additional clues for a mass blackout include the Metcalf sniper attack: A highly professional 2013 attack on a power substation, and a flurry of news articles warning of a potential mass blackout from a power grid attack.

Crime Schools:

New York University:

Political revenge killings are covered here.

Evidence of a coverup in the deaths of two NYU students in Puerto Rico shortly after the SVB bank failure. They were killed by an unknown party when they reportedly got stuck in random crossfire, and a 3-second video clip was presented as strong evidence in media.

Meanwhile, NYU Presidents Global Council appears to be functionally identical to the Clinton Global Initiative: A thinly-veiled international money laundering operation conceived of by Chandrika Tandon, wife of Ponzi financier Ranjan Tandon.

Evidence for a blackmail ring includes:

  • A statistically massive number of student suicides, listed here.

  • There are several online documents that mention “snooker,” but are secret references to blackmail - an example of Thieves’ Cant. This may sound farfetched on its own, but these documents were found on websites connected to cryptocurrency and other Ponzi scheme websites. With this in mind, here we have a strange biography of snooker player Steve Davis that matches perfectly to the story of Jeffrey Epstein when we know that snooker = blackmail and poker = Ponzi schemes (and “online poker” = cryptocurrency).

  • In that light, we can identify “Lucania Snooker Club” as NYU, where Epstein attended college before being whisked away to the Dalton School, where he was hired by a CIA/OSS officer. ‘Lucania’ is Lucky Luciano’s birth name, and it suggests that NYU inherited Luciano’s blackmail ring from his mob headquarters just down the street.

  • This theory was confirmed when we read the referenced book, How I Play Snooker by Joe Davis (which costs a staggering $300 for a used copy). Sure enough, if we read it of the mind that it’s a coded blackmail guide, we were given an excellent introduction for how to blackmail somebody. A brief key:

  • The blackmail artist is the snooker player.

  • The cue ball is who they present as to the victim.

  • The object ball is the victim.

  • The distance between the two balls represents how close or distant our relationship is with the victim.

  • The screw shot is the reveal where the victim’s trust is betrayed for the purposes of blackmail.

University of North Carolina at Chapel Hill:

Student Body President Eve Carson was reportedly murdered by two thugs from the hood who had carjacked her. Notably, the only evidence of the murder itself is hearsay: A friend of the two said that they told him all the details of the murder, and got a federal drug charge reduced for his testimony. This should be completely inadmissible in court - the fact that it’s the only evidence strongly suggests a coverup.

Once we know about Bill Clinton’s sly admission of blackmailing Governor Dukakis, we can see UNC President (and former Clinton chief-of-staff) Erskine Bowles’ speechat Eve Carson’s memorial in the same light: He is stifling a laugh throughout, and makes several curious statements and gestures (with one evoking her face being ripped open with a shotgun blast). Additionally, the introductory audio clip of Eve ends with a jarring cut implying that she wants to take from the needy.

In the video, we’re given the same motive as the Dukakis blackmail: Carson was assassinated because she was a noble, honest public servant who fought for her student body, demanding that a board meeting to raise tuition rates be opened up to the public.

Additionally, once we know just how often high-tech biomed is used for Ponzi schemes, it appears that UNC President Holden Thorp (who was hand-picked by Bowles), has made a career in Ponzi schemes.

The Simpsons and Mass Media Propaganda

While The Simpsons can’t obviously collectively brainwash the masses on its own, it’s just one example created for this specific purpose. We find similar goals of instilling fear and partisan division throughout new media and daytime television: We are bombarded with messaging with the express purpose of dividing us and instilling learned helplessness: It’s a cult leader tactic on a global scale.

Simpsons creator Matt Groening revealed his hand on the cover of the very first issue of Life in Hell, his pre-Simpsons comic book:

He said, “What you see is what you breath.” He called it “Life in Hell.” He’s telling us we’re in hellworld so that we’ll believe it.

Another example is The Simpsons Movie, which primed us all for COVID: An unexpected global event that we’re all too dumb and divided to do anything about, while we must accept the unknowable power of our almight government.

Other criminal propaganda examples include:

Stanley Kubrick:

  • Dr. Strangelove (Or, How I Learned to Stop Worrying and Love the Bomb): Ever wonder what that bizarre subtitle is about? “I” is “The Public:” He’s such a cocky supervillain that he’s telling us he’s brainwashing us - making a (beloved) comedy about nuclear war was done so we’d get comfortable and complacent and ignore the very real threats of endless militarization and the arms race.

  • A Clockwork Orange: Shows us “ultra-violence” mixed with happy-go-lucky “Singing in the Rain,” and then offers the preposterous theory that forcing someone’s eyeballs open and exposing them to ultra-violent media will make them less violent.

  • Full Metal Jacket: More blackpilled ultra-violence.

  • Eyes Wide Shut: Like an early version of QAnon: It promotes the absurd theory that the world’s elite are all evil bizarro ritualists, when the truth is that they are just the world’s worst financial criminals. Note the title: it isn’t “Eyes Wide Open.”

Stephen Soderberg:

  • Directed Contagion to prep us for COVID by letting us know that a pandemic could play out exactly as we were told: at a wet market in China.

  • His films The Panama Papers and Che both completely neuter their subjects to serve the CIA’s interests.

  • He often works with George Clooney, who is a close associate of the Clintons and Richard Bransons, and whose films align perfectly with our government’s interests. Clooney also once received a blowjob from Ghislaine Maxwell.

Beyond specifics, consider how daytime talk media and news has transformed into nothing but divisive, partisan fear-mongering that repeatedly tells us to oppose our fellow man, to be afraid and helpless at the state of the world, and to buy consumer comforts to deal with our sea of problems.

The meme accounts are everywhere, and are best recognized scrolling through many of their memes and noticing precisely the same themes ad infinitum. A few off instagram include, therecoveringproblemchild, shitheadsteve, and mindsetoftherich (which also promotes lots of Ponzi schemes).

The Truth About 9/11

We didn’t dig deep on this, but realized it slotted perfectly with what we knew about all of their other supervillain-level crimes.

Epstein’s Bush painting features a child-George W. Bush having knocked over two Jenga towers with a paper airplane. It was one of just two paintings left in his $70 million townhouse after his arrest, despite the fact that he would have had much more art: It was an intentional “fuck you” from our government, daring us to see the truth and laughing at how invincible they felt.

Between that, the truth about COVID, the populate “Bush Did 9/11” memes (remember the Theory of Bullshit - they tell the truth sometimes), George H.W. Bush’s known ties to Osama bin Laden and Saudi Arabia, and the wretched criminal lies across our media, we feel tis has been proven beyond a reasonable doubt.

The Truth About COVID:

Once we became expert at recognizing Ponzi stock charts and realized how many trillions of dollars were funneled through half the stock market, this one was proven. Even if COVID hadn’t happened, there would still have been the same massive anomaly in the market. An explanation was required, so they cooked up COVID. They unleashed a deadly pandemic to help facilitate the threft of trillions of dollars from the global public.

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