I Bow Down to You, Fed Chairman Powell

Jay Powell

This requires more than a "Thank You, Federal Reserve."

Jay Powell, you will most certainly be profiled in the Madness Creation Encylopedia which is sure to be released now.

In the era of mad Federal Reserve money printing by the Cult of Fed, the results of your mad money printing have outdone all other Fed chairman, a digital image has sold for $69.3 million. 

Mike Winkelmann, who goes by the professional name of Beeple, sold a digital image online at Christie’s for 69.3 million Fed-printed greenbacks. That’s more than anyone has ever bid for artwork by Frida Kahlo, Salvador Dalí or Paul Gauguin—and it makes Beeple the third most-expensive living artist after Jeff Koons and David Hockney.

The Journal explains:

NFTs (non-fungible tokens) incorporate technology similar to bitcoin, the decade-old digital currency, albeit with a key difference: Whereas one bitcoin is exchangeable with another bitcoin, each NFT serves as a singularly unique marker for the digital asset it tags. NFTs have also been used to sell tweets and NBA video highlights to bidders.

The winner of Beeple’s 2021 piece, “Everydays: The First 5,000 Days,” will receive the image along with its unique token, which will be sent to the winner’s address—the unique identifier for a cryptocurrency account. This token will convey ownership from the artist to its new owner.

This same token will be recorded on a digital ledger known as a blockchain that will store details about the work’s creation along with its new owner (not yet divulged) and any future owners should it get resold. In the same way an artist’s signature and ownership history helps authenticate a painting, the NFT on this $69.3 million image will ensure it remains certified in perpetuity. Copies of the same image uploaded elsewhere will not.

Here is the Christie's image of the image in non-recorded form:

Where did the money come from for this purchase? Could the trillions in new money printed by the Jay Powell and the Pumpettes have anything to do with it?

-RW