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They made a lot of money thanks to an entirely artificial fiat monetary scheme (which is nothing more charity for the socially connected). Then they refuse to p
by cryptica 6y ago
They made a lot of money thanks to an entirely artificial fiat monetary scheme (which is nothing more charity for the socially connected). Then they refuse to pay it forward by investing in useful, transformational projects... Instead preferring to launder the money among themselves as a means of wealth preservation. Wealth which they don't deserve to begin with.
- op03 6y agoMore like there are no useful transformational projects that everyone agrees on. So different groups do what they got to do. Just try an experiment with you own family. Find the richest members and get them to buy into "useful transformational projects". Come back and tell us how that goes.
- imtringued 6y agoEasy, real estate. Just build more housing. The idea that we have run out of things to do is laughable. The truth is all the profitable investments are illegal.
- OminousWeapons 6y agoStand up a useful, transformative project and I'm sure there will be no shortage of people looking to invest...
- deleted 6y ago[deleted]
- donmcronald 6y agoI vote for eradicating food insecurity in the USA. That would be pretty transformative IMO. How many ultra wealthy investors do you think will get on board?
- cryptica 6y agoZero. But even if the project was good and for-profit, it would probably still be zero. It's 100% about personal connections of the founders. Nothing to do with the project. The project is just a vehicle for laundering money from one rich person to another... Artificially compounding existing wealth in the process without creating any new value.
- imtringued 6y agoExactly, if inflation arrives and the Fed were to raise interest rates, all that fake wealth would disappear. The problem is that the fake wealth is a big chunk of the economy so the Fed will not raise rates.