Trillions of units of value, every day.
Who’s gonna do it?
Do what?
institutional investors that are actual load bearing economic walls
Fairy tales
Be a highly paid middle manager at a bank
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Manage this entire system of transfers between individuals and businesses. To the tune of trillions per day being transferred.
Is your answer to nationalize the banks and let the government do it?
Need people to go around saying “it’s the fed, stupid” the way people used to say “it’s the economy, stupid”
The blockchain
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Transferring money needs leaches who take money out of every transaction? Why?
I don’t really give a fuck if it is the government, something like crypto or anything else that can do it.
Oh ok, so your perspective is that you think the government isn’t already doing all the heavy lifting
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There’s going to be a Senate hearing about the FTX collapse on Wednesday, featuring Kevin “Mr. Wonderful” O’Leary who I guess lost part of his ass? I don’t know, also has Ben Mckenzie
pretty straightforward logic
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we successfully kept the grown ups from building in the crypto space. this was a good thing.
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the things that were built in the crypto space without the grownups were not up to the high standards of modern high finance corporations
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it would have been disastrous if the grown ups had built anything in this space even with their high levels of professionalism because it doesn’t have anything to do with grown ups or standards, it’s the blockchain itself that is evil. like the lord of the ring, inherent in its nature it corrupts all men.
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Because nobody likes to do work for free, even in crypto.
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Have you noticed that the ‘retail morons’ go from poor noble souls, to wretched creatures deserving the worst, and back again, depending on whichever asinine point needs to be made?
In a theoretical world with a true central bank they would pay they workers out of tax dollars.
In our current world yes people who work at banks do need to be paid to do it. I’m not sure that is really the argument you think it is.
TBH, I was not great in that area either. I went through phases where I was good and others that were pretty terrible. One example of this is my “PR Pizza”, which was me eating an entire pizza if I got a PR in a particular training session. On Wednesdays this restaurant/bar had live music and a deal on a 1 topping large pizza for like $8, so I was particularly motivated on Wednesdays to go hard and slam a whole pizza + beers afterwards. At that time I was lifting like 5 to 7 days per week, so those excess calories from that binge mostly just helped me recover and fueled my next workout.
Current day me can’t stay on a caloric deficit for more than like a week either. I have a spreadsheet with 5 failed diet attempts from the last 18 months that lasted a combined 8 weeks.
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Dumb question but do we have a H&F thread here?
danby, when you walk into the main branch of a major bank in a large city do you get the impression of a modest financial services company charging reasonable fees and spending responsibly?
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