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In fairness the astonishing amounts of fraud have been there all along.
by masklinn 4y ago
In fairness the astonishing amounts of fraud have been there all along.
- woodruffw 4y agoVery true! I guess "precipitation of the consequences of fraud" would have been more precise.
- nightski 4y agoAs is true in traditional finance as well. If you want to escape fraud altogether you might as well not have any wealth. The entire 2008 financial crises was due to fraud...
- Sebb767 4y agoPeople are still defrauded without wealth. See loan sharks, for example, or people arguing you should use debt to invest in the newest crypto hype. So even that escape hatch does not work.
- brightball 4y agoYep. Honestly it’s just been a question of whether you were going to try to take advantage on the way up or not.
- knorker 4y ago"It's only when the tide goes out that you find out who's been swimming naked" Fraud and ponzis work fine for a while, but a downturn is exactly what causes its instability to show.