1/8
Jeff's comments are spot on and deserve expansion in a 🧵
It is part of a disturbing trend over the last few months of financial institutions and Govts "just taking" (stealing) other people's money in broad daylight.
@CliffordAsness @jdorman81
Jeff's comments are spot on and deserve expansion in a 🧵
It is part of a disturbing trend over the last few months of financial institutions and Govts "just taking" (stealing) other people's money in broad daylight.
@CliffordAsness @jdorman81
https://twitter.com/jdorman81/status/1502003905575612419?s=20&t=2HgsrfzKUvAGhUEVuPiOHw
2/8
Canada's emergencies act allowed Ottawa to freeze the accounts (steal) the money of protesting truckers without any due process.
Canada's emergencies act allowed Ottawa to freeze the accounts (steal) the money of protesting truckers without any due process.
3/8
Also, the emergencies act created "retroactive laws" (nice Orwellian term) to say when you donated to the truckers it was legal, but now it is not so you are retroactively in violation of the law so Canada can freeze (steal) your money without due process.
Also, the emergencies act created "retroactive laws" (nice Orwellian term) to say when you donated to the truckers it was legal, but now it is not so you are retroactively in violation of the law so Canada can freeze (steal) your money without due process.
4/8
gofundme closed the Canadian truckers account (with $9m) and if the donors did not figure out how to request a refund gofundme would donate it to a charity of their choosing (stealing).
gofundme backed off after a big social media outcry and processed refunds automatically.
gofundme closed the Canadian truckers account (with $9m) and if the donors did not figure out how to request a refund gofundme would donate it to a charity of their choosing (stealing).
gofundme backed off after a big social media outcry and processed refunds automatically.
5/8
Western Govts block Russia from Swift/central banks, effectively freezing (stealing) their reserves.
Western Govts confiscated the assets and money of rich Russian citizens (Oligarchs), including the EPL team Chelsea and London properties from its owner.
Western Govts block Russia from Swift/central banks, effectively freezing (stealing) their reserves.
Western Govts confiscated the assets and money of rich Russian citizens (Oligarchs), including the EPL team Chelsea and London properties from its owner.
6/8
Now we have the LME canceling 9,000 trades worth $4b effectively using this money (stolen) from "regular" traders to bailout a Chinese Tycoon.
wsj.com/articles/the-m…
Now we have the LME canceling 9,000 trades worth $4b effectively using this money (stolen) from "regular" traders to bailout a Chinese Tycoon.
wsj.com/articles/the-m…
7/8
You may not like some or all of the players above and believe they should be punished. That's fine.
But understand we have crossed a Rubicon in the last few months that financial institutions and Govts can take money because they do not like that person or their activities.
You may not like some or all of the players above and believe they should be punished. That's fine.
But understand we have crossed a Rubicon in the last few months that financial institutions and Govts can take money because they do not like that person or their activities.
8/8
Or your net worth is zero. My net worth is zero. All of our net worth is the property of the financial institution that holds it.
And as long as we behave and do not displeasure them, we are allowed to use some of their property (money) for our use.
Be sure to thank them.
Or your net worth is zero. My net worth is zero. All of our net worth is the property of the financial institution that holds it.
And as long as we behave and do not displeasure them, we are allowed to use some of their property (money) for our use.
Be sure to thank them.
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