5 ms·

I dunno, if I put $80 of cash into a black box and pull out $20, that doesn't tell you that much about the remaining $60, just that the box wasn't secretly a pa

I dunno, if I put $80 of cash into a black box and pull out $20, that doesn't tell you that much about the remaining $60, just that the box wasn't secretly a paper shredder the whole time. Which is great news for the lucky early redeemer. Not much use to later redeemers though, if it turns out that the remainder was eaten by hungry rodents.

manquer 4y ago
Depends on how you see it, I am impressed there was even $20 in the box given how poorly and non transparently they are governed. The current global market climate makes it tough to keep the $80Billion in investments both liquid and on par even if they invested in traditional portfolio baskets, a traditional bank would likely struggle if quarter of their deposits liquidated in a month and may not be able to easily meet cash reserve ration requirements to support future withdrawals.