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Scams like the Rubin Trade cannot succeed without an easy money central bank giving monopoly banks favorable interest rates & bailing them out with lower interest rates & QE when it blows up.
That's why you only see it in shitcoins like USD, not bitcoin.
That's why you only see it in shitcoins like USD, not bitcoin.
Easy money is the eliminator of skin in the game. Its printing press can fully absolve you of the consequences of your 'mistakes' ensuring you have every incentive to repeat them. Without it, people like Rubin would starve if they didn't get an an actual job being productive.
The Rubin Trade, in practice, is a central bank sponsored ponzi scheme mandatory for all citizens, to the benefit of Rubin and his buddies. No matter what you think of him or his trading strategy, you HAVE to pay for his inevitable bail-out when the 'unexpected' happens.
Governments do not regulate markets to prevent ponzi schemes and scams, as your college textbook misinforms you.
They do it to enforce a monopoly on scams and make participation mandatory & universal.
The Rubin trade made its perpetrators more money than all ponzis in history.
They do it to enforce a monopoly on scams and make participation mandatory & universal.
The Rubin trade made its perpetrators more money than all ponzis in history.
You can whine about this.
You can vote.
You can write strongly-worded articles.
Doesn't matter, your consent isn't needed to rob you.
Your only non-pathetic option is to exit this game to a hard money & let the parasites prey on each other to death.
You can vote.
You can write strongly-worded articles.
Doesn't matter, your consent isn't needed to rob you.
Your only non-pathetic option is to exit this game to a hard money & let the parasites prey on each other to death.
