well the housing market is worth what, 100 trillion?
I’d like to cope and believe that the finance ghouls in charge are bright enough to not kill their golden goose by going all-in on $420KEK or whatever.
The difference is that subprime mortgages were being repackaged as safe investments and then used as fodder in retirement accounts. I severely doubt anyone’s going to try something similar with crypto (again, coping that Wall Street is at least smart enough not to shit in their own food here, this comment will age poorly, etc etc)
That’s the Greenspan Tragedy isn’t it? Rationally and taken as a whole the finance, banking and pensions system wouldn’t even think of doing this. But individually, Golden Parachutes can take managers very far indeed.
That said, there’s no real reason to doom over this sort of ultimate financial fuckery. It’s like trying to doomsday prep for thermonuclear war. Ya ain’t surviving that.
I severely doubt anyone’s going to try something similar with crypto
I have no doubt it will be tried. It may exist already, there are publicly tradable corporations that have large crypto holdings, basically copying MicroStrategy’s strategy, and turning themselves into de-facto crypto ETFs.
well the housing market is worth what, 100 trillion?
i’m afraid you’ve just lathed it
The difference is that subprime mortgages were being repackaged as safe investments and then used as fodder in retirement accounts. I severely doubt anyone’s going to try something similar with crypto (again, coping that Wall Street is at least smart enough not to shit in their own food here, this comment will age poorly, etc etc)
That’s the Greenspan Tragedy isn’t it? Rationally and taken as a whole the finance, banking and pensions system wouldn’t even think of doing this. But individually, Golden Parachutes can take managers very far indeed.
That said, there’s no real reason to doom over this sort of ultimate financial fuckery. It’s like trying to doomsday prep for thermonuclear war. Ya ain’t surviving that.
I have no doubt it will be tried. It may exist already, there are publicly tradable corporations that have large crypto holdings, basically copying MicroStrategy’s strategy, and turning themselves into de-facto crypto ETFs.