So now we have a fractionally reserved banking system but with 100% depositor protection.
The banks can fuck around with your money and if they win, they win. If they lose, the government picks up the pieces and makes depositors hole.
Discussion
Yeah but donβt worry, taxpayers arenβt bearing ANY of the costs
Precisely. Good luck keeping inflation down. Banker gonna bank hard and loose. Gonna need 20% mortgage rates to keep a lid on it.
I hope you all already own your homes. It's gonna be impossible to afford now.
Socialism is great. I just need 1 billion dollars to get government aid though.
And blame capitalism π
β
Government is 31T in debt. How are they supposed to make ANYONE whole?
When it sounds like a ponzi,
Feels like a ponzi,
Looks like a ponzi,
It is a ponzi.
Btw followed!
Feel free to follow me back! π€
Exactly! The best investment strategy is to bet all in Vegas, to black or red. If you win you have 100% profit, if you lose, donβt worryβ¦ loses are socialized.
Or
Better⦠you do it multiple times. 50% of the times you get the profit. 50% of times everybody share the loses. So statistically you only win.
Actually, taxpayers and those holding fiat are the ones who take the loss but, yes, moral hazard at its finest!
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Crony Capitalism: Profits are privatized, losses are socialized...