Emanuel Pastreich pushes Elon Musk aside as richest man

Surprise turn around in the ethereal battle for wealth

December 19, 2024

Emanuel Pastreich pushes Elon Musk aside as richest man

Jim Hartman

Just as Elon Musk announced this week that his wealth had increased to 454 billion dollars, an increase of 70% since he had his pet president Donald Trump “elected” in November, he found himself left behind in the dust by Emanuel Pastreich whose total net worth soared to 70 trillion dollars on Tuesday.

The primary reason for Pastreich’s total assets reaching 70 trillion dollars, pulling far ahead of the rest of the billionaires, was the release of a new cryptocurrency, the ephemera.

The value for the Ephemera was set by the Global Bank, and supported by the International Committee on Currencies (ICC), two innovative institutions set up to take advantage of the economic implications of AI, at a rate of one ephemera to one US dollar. Seeing as the first traunch of 70 trillion ephemera was issued exclusively to Pastreich, he therefore has a fortune worth the equivalent of the entire global economy.

Pastreich has set up with his business partners a new committee in the federal government to reform currency and assess the value of the dollar and emerging cryptocurrencies known as SCAM (strategic currency assessment monopoly). SCAM moved quickly to voice its support for the ephemera. SCAM’s chairman Howard Friedman declared today, “The ephemera will be a boon to the American economy. It is the cutting edge of financial innovation and I am certain that others will be following its model.”

Pastreich responded with typical humility to this financial coup, relating, “Look, Musk, Bezos, Gates, and others are planning to steal from the pockets of working people by creating crypto out of nothing, pulling wealth out of their asses—and they got the billions they have now by such fraud at the Federal Reserve and at the Pentagon which are two big money laundering machines.”

Economists were taken aback by Pastreich’s frank comments, some admitting in private that the wealth that these billionaires and crypto kings hold is fantastical and not grounded in any value.

Remarked one economist, off the record, “Look, the only value in the economy is generated by work. The rest of these crypto currencies, including the dollar, are a fancy form of counterfeiting.” Larry Flink of Barret’s Bank explained, “If the people decide to seize the holdings of those so called billionaires by creating currencies that actually reflect value, and not fraud and PR, there really is nothing to stop them.