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Just what we needed. The largest legal crime syndicate in the US legalizing yet another scheme to suck money out the system. Most likely targeting public empl
by thread_id 3y ago
Just what we needed. The largest legal crime syndicate in the US legalizing yet another scheme to suck money out the system. Most likely targeting public employee pension funds that for some reason beleive that they need to have risk exposure to all asset classes including the currency of choice for criminal transactions. Great.
- hellyer 3y agoCan you elab on the legal crime by Fink's Blackrock?
- 0xedd 3y agoAdvocate for closure of nuclear plants in Germany and sign deal to fund coal company. All through shell corps, media and political brib... Sorry, campaign funds.
- gruez 3y ago>Advocate for closure of nuclear plants in Germany and sign deal to fund coal company Advocating for dumb policies isn't a crime. >political brib... Sorry, campaign funds. In other words... they specifically did it in a legal way?
- distortionfield 3y ago> the currency of choice for criminal transactions Sorry, that title still belongs to the US Dollar.
- crtified 3y agoCan you describe (simplified if necessary) the mechanism by which Blackrock would use this ETF to suck money out of the system?
- deleted 3y ago[deleted]
- gruez 3y agoThe only coherent interpretation I can think of is through the management fees they'll charge. Based on existing bitcoin products, it'll likely be in the neighborhood of 1-2%. I don't see the issue with it though. They're providing a service (ie. being able to invest in bitcoin in an institution friendly way), and are charging a fee for it. You may think the service is worthless, but it's still strange to characterize it as "sucking money out of the system". I don't care for fine art, and I think the premium paid for them is worthless, but I wouldn't characterize companies involved in the transaction (eg. Sotheby's) as "sucking money out of the system".