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What other products that are as known-to-be-risky-and-associated-with-fraud are backed by an ETF? Genuinely curious what else is out there...

by dpflan 3y ago

jMyles 3y ago
The world's foremost money launderer is a fund provider for several ETFs, eg: https://www.justetf.com/en/etf-profile.html?isin=IE00B4X9L533 https://www.justetf.com/en/etf-profile.html?isin=IE00B4X9L53...
mratsim 3y ago
Stocks of WeWork?
TacticalCoder 3y ago
> What other products that are as known-to-be-risky-and-associated-with-fraud are backed by an ETF? Government bonds. There were ETFs holding Greek gov bonds for example. Greek cheated to enter the EU (by fudging its numbers, with the help of big accounting firms and banks). And government bonds are known to be risky, seen that throughout times many government have simply grown their public debt and then defaulted. Fun fact: US public debt grew from $33 trillion (with a 't') to $34 trillion in ... drumroll ... 100 days. Woot! P.S: I'm not sure your question is correctly phrased... 3% to 5% of the world's entire GDP is linked to crime. By now it's not even clear if 3% to 5% of all the Bitcoin transactions are linked to crime.
- dpflan 3y ago
  Your post-script is something to consider. I should've added this comment from the SEC, the entity that just authorized this ETF: """ Though we’re merit neutral, I’d note that the underlying assets in the metals ETPs have consumer and industrial uses, while in contrast bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware,[4] money laundering,[5] sanction evasion,[6] and terrorist financing.[7] """ - https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023 https://www.sec.gov/news/statement/gensler-statement-spot-bi... What other ETF exists for an asset that the SEC closes its statements about like this?
deleted 3y ago
[deleted]
kobalsky 3y ago
THCX the cannabis ETF went from $230 to $16. Maybe it was not known to be risky, but it was a massive rug pull. Does that qualify?
- dpflan 3y ago
  I should've added this comment from the SEC, the entity that just authorized this ETF: """ Though we’re merit neutral, I’d note that the underlying assets in the metals ETPs have consumer and industrial uses, while in contrast bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware,[4] money laundering,[5] sanction evasion,[6] and terrorist financing.[7] """ - https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023 https://www.sec.gov/news/statement/gensler-statement-spot-bi... What other ETF exists for an asset that the SEC closes its statements about like this?
  - dpflan 3y ago
    I think you may be right regarding the thc industry in the US, its gray area of existence.
LAMike 3y ago
Anything backed by the guarantee of a government or corporation?

What other products that are as known-to-be-risky-and-associated-with-fraud are backed by an ETF? Genuinely curious what else is out there...

by dpflan 3y ago

What other products that are as known-to-be-risky-and-associated-with-fraud are backed by an ETF? Genuinely curious what else is out there...

jMyles 3y ago

The world's foremost money launderer is a fund provider for several ETFs, eg: https://www.justetf.com/en/etf-profile.html?isin=IE00B4X9L533 https://www.justetf.com/en/etf-profile.html?isin=IE00B4X9L53...

mratsim 3y ago

Stocks of WeWork?

TacticalCoder 3y ago

> What other products that are as known-to-be-risky-and-associated-with-fraud are backed by an ETF? Government bonds. There were ETFs holding Greek gov bonds for example. Greek cheated to enter the EU (by fudging its numbers, with the help of big accounting firms and banks). And government bonds are known to be risky, seen that throughout times many government have simply grown their public debt and then defaulted. Fun fact: US public debt grew from $33 trillion (with a 't') to $34 trillion in ... drumroll ... 100 days. Woot! P.S: I'm not sure your question is correctly phrased... 3% to 5% of the world's entire GDP is linked to crime. By now it's not even clear if 3% to 5% of all the Bitcoin transactions are linked to crime.

dpflan 3y ago
Your post-script is something to consider. I should've added this comment from the SEC, the entity that just authorized this ETF: """ Though we’re merit neutral, I’d note that the underlying assets in the metals ETPs have consumer and industrial uses, while in contrast bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware,[4] money laundering,[5] sanction evasion,[6] and terrorist financing.[7] """ - https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023 https://www.sec.gov/news/statement/gensler-statement-spot-bi... What other ETF exists for an asset that the SEC closes its statements about like this?

deleted 3y ago

[deleted]

kobalsky 3y ago

THCX the cannabis ETF went from $230 to $16. Maybe it was not known to be risky, but it was a massive rug pull. Does that qualify?

dpflan 3y ago
I should've added this comment from the SEC, the entity that just authorized this ETF: """ Though we’re merit neutral, I’d note that the underlying assets in the metals ETPs have consumer and industrial uses, while in contrast bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware,[4] money laundering,[5] sanction evasion,[6] and terrorist financing.[7] """ - https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023 https://www.sec.gov/news/statement/gensler-statement-spot-bi... What other ETF exists for an asset that the SEC closes its statements about like this?
- dpflan 3y ago
  I think you may be right regarding the thc industry in the US, its gray area of existence.

LAMike 3y ago

Anything backed by the guarantee of a government or corporation?