3 ms·
While it's fascinating to watch crypto bros learn exactly why the financial system is like it is, kinda like the kid eating baking chocolate, that's boring. It
by jmyeet 1y ago
While it's fascinating to watch crypto bros learn exactly why the financial system is like it is, kinda like the kid eating baking chocolate, that's boring. It happens basically every day.
What's more interesting is how massive hte insider trader problem is already and it's only going to get worse. At some point it's going to undermine the financial markets themselves because nobody is going to trust it. Libertarians might get mad but financial markets, like all markets, require strong regulation to function.
A consequence of the presidential immunity decision is that Trump and his orbiters are allowed to insider trade with absolutely no repercussions. If somebody in his orbit does get in trouble, no problem. Just sell another pardon.
The US control and influence over the global financial system is a key pillar of its global power. As much as we might hear platitudes like "America First", this administration has done more to destroy the global power and influence of the US than any in living memory and it's not even close.