This article is a work of fiction. Names, characters, places, and incidents are either the product of the author’s imagination or are used fictitiously. Any resemblance to actual events or persons, living or dead, is entirely coincidental.
And the story continues with @prince-octavian... right from the second episode here
Almost 10 years later and some months, in the present day of the year 2025, Mr J ran to his car totally embarrassed, and sped off to his bank, on getting there he met a big queue of people complaining, that they could not withdraw money from the ATM machines or over the counter, what was happening? Mr J started feeling frustrated, next thing he knew there was a stampede, a large stone flew towards his car and broke his windscreen, apparently some people had come from other banks that couldn’t give them their hard earned money.
Mr J was seeing red, he had never felt so much hot rage in his life, he had always played everything by the book all his life, good grades, a good job, his own house, no debts, always pays his taxes and his bills, he was the definition of an upstanding citizen, why then couldn’t he just get a little money to buy some food! His own money! And now this! His windscreen!
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A bunch of tangled wires, representing Chaos
The president of the federation was confused, “I don’t understand, please explain to me all over again”. The minister of finance took a very deep breath, looked at the senator; who looked down and nodded his head, so she went on “sir…” she explained everything. How Paradise Z had a very good stock evaluation showing very high profits with a 5:1 ratio to expenses, how everyone rushed and struggled to get a piece of this pie, from major corporations, to banks, to very rich individuals, apparently people were buying stocks that had the backing of deception.
It hit the market and the value kept shooting up, under layers and layers of deception. Paradise Z on their part did not intend for it to go that way. At the time of their IPO, the numbers would have been true, if not for a very unfortunate incident that involved them loosing 5 years’ worth of raw materials to fire.
To avoid filing for bankruptcy and not losing his bid to the IPO, he manipulated numbers so the company would look healthy, then borrowed large chunks of loans from banks to cover this debt up, thinking the company could recover enough to continue this way. Unfortunately, the company was also paying dividends; at the 6th year of this deception, almost recovering. Competitors came to join the party and so, the once 100% market share became 45% and seeing the writing on the wall, Paradise Z created another stock offering for a project backed by nothing.
It was another gimmick to try to get some money to pay off debts. Most who bought the stocks were banks, and because of the hype surrounding paradise Z’s stocks, they bought more than 80% of it. The value kept rising and most banks seeing the value kept rising made a deal with Paradise Z to wipe off pre-existing loans for exclusive rights to the next stock offering. Paradise Z seeing this opportunity decided to play catch up and offer the banks what they wanted, and guess what they gave them? Yes, you got that right! Another empty shares backed by nothing, there were a lot of success stories going on about Paradise Z, till experts started looking closer. Market share was reduced, sales were not that great, how then was this company's shares still priced this high?
Speculations, and FUDs started spreading. The dumping started; the banks were too greedy to see, they kept buying the dumped shares, thinking it was a bargain at low prices, after all, this was the legendary paradise Z!, till the liquidity issue started, and people started investigating. Ultimately, the banks tried to dump too but the shares had gone so down in value they were almost completely worthless.
2. A set of distributed ledger, arranged in blocks and available any day any time on the blockchain for anyone to see can enforce the highest degrees of accountability and transparency from individuals to organisations and lastly, the government.
The president was shocked because this was a company he also endorsed as the company for the people, by the people; a patriotic organisation. A company that made people richer; supported his party with over 90% of their campaign funding which put him in power. He started sweating, afraid to ask the next question, “how much?”. “How much did the banks invest in paradise Z? How much?”.The minister of defence swallowed, “some as much as 80% of their holdings, some as much as 90%, all fully endorsed by the past administration and your administration”.
The president looked at the minister, “why are you looking like that? Is there more?” the minister looked uncomfortable,. “Well, the banks didn’t invest their profits alone, they also invested most…”, at this point the president touched his chest with shaky hands and slumped forward.
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Wow! Epic anecdote. I just realise now it's one things to see pump and dump in the coin market and another thing entirely coming face-to-face with life situations that surround it. Thank you, prince.
I couldn't help feeling for that bank. Dunno if to call it greed, but then that's business in financial systems for you. As for paradize z... it's heavy. It kinda makes one wary of these ICOs springs up daily. One really needs to be cautious...till nemesis locates them.
Didn't know you were this much of a fiction writer, every moment was just filled with suspense, not knowing what we come up next and to think it was centered on a just a particular topic would really say you did a magnificent job here and nothing less than Well Done Sir @prince-octavian
thank you so much as you gave us good information
I am Cornholio! You will co-operate with my bunghole!
Good job @airhawk-project
Thank you! do watch out for more from us in the future! thank you!
Weldone @prince-octavian, this is incredible and full of knowledge...
Thanks to @airhawk-project for publishing this great article...
Keep Steeming
Thank you bro! Your kind words are deeply appreciated.
You're welcome my Prince
Good information. Thanks
Thank you for stopping by, and I am glad you enjoyed it.
Such an awesome way to get a message through. I hadn't read the previous parts when I found this one, but I went back and read them. Great work!
This gives me joy! I hope in the future our posts impresses you more.
Wonderful and incisive story. I learnt a lot from it.
Keep it up @airhawk-project
Happy Steeming
Mr You! I am really happy you like my post! means a lot to me man. Thanks for dropping by.
Tanks alot for the information @airhawk-project
Uwc! this is just the beginning.
What a post full of knowledge, great work from @prince-octavian.
Keep the good work up @airhawk-project.........
Thank you! you are far too kin with your words, I aim to do better in the future.
Good post loaded with information..........keep steeming @airhawk-project
Thank you very much!
I don't know why this crypto thing is hard for me to comprehend......but i know if i persist i will eventually understand.
Nice article....... Am a great fan of your work
Haiz. The country will go down as the most stupid country. Didn't they do any research on Paradise Z before buying stocks with all their wealth? They country will be forced to seek a loan from another country and be a slave. Morons. Anyways, good story there!
Спасибо,спасибо,спасибо! Ты молодец!
This is wow! Well-done @airhawk-project
Good insight into crypto currency. keep posting great content like this as it helps out the community and spreads a greater understanding of steem!
Have a good Christmas