a non trivial number of the founders were themselves involve in elaborate land speculating schemes that were little better than fraud
Reposted from
KANADI-Class NHP
I find it profoundly funny that people are pretending that "Elaborate schemes of fraud involving fake securities attached to a non-existent asset" were invented in 2021 and that the Founding Fathers of America wouldn't instantly grasp them with "Oh, it be like the South Sea Company scheme!"
Comments
https://www.acfe.com/training-events-and-products/all-products/product-detail-page?s=Fraud-An-American-History-from-Barnum-to-Madoff
I’m shocked—shocked!
Pre-Fed there were economic downturns every 4-6 years. I don't think that's even possible if "fraud" isn't one of the main drivers of your economy.
There were a few exceptions, but not many.
Today he’s a hero.
This is kinda just the way it's always been under capitalism. It has certainly gotten worse, more obvious, more disconnected from the production of any real thing...
The BtB eps on RE Lee are a good reminder of America's love of wild debt for the trappings of wealth
its kinda worse than fraud
https://loudmouthindy.com/item/-Hzs6px5zt58064DGidg1w
https://www.amazon.com/Spoils-War-Conflicts-Greatest-Presidents/dp/1610396626
Florida
https://press.princeton.edu/books/paperback/9780691010342/socializing-capital
Yeah, I know they study some mainstream medicine but what about the scam stuff
New hotness: give Congress cryptocurrency worth $0, get Congress to invest US Treasury money into crypto, both you and Congress get rich
https://www.gutenberg.org/files/2810/2810-h/2810-h.htm#link2HCH0001
The property being sold to you is always the scarcest and best, so you better get in now or you're a loser.
So that entwinement would have been fully expected.
I would read this book if you wrote it.
Also please write on Argentina's entrance into the world as a place to put money in
Who scammed the federal government five billion times and died in his bed at nearly a hundred
https://en.m.wikipedia.org/wiki/Gregor_MacGregor
"these tycoons...were, however, not that smart. Many were clever enough at soliciting money and not repaying debts. The shrewdest of them were masters at controlling and manipulating information."
In audiobook format too please!
I have a deep fascination with these types of ppl/figures lol
https://en.m.wikipedia.org/wiki/The_Great_Salad_Oil_Swindle
https://www.graywolfpress.org/books/bunk
https://www.lastpodcastnetwork.com/fraudsters
Old friend Andrew Odlyzko has written much on the persistence of bubbles and scams: there's plenty to pick from. https://en.wikipedia.org/wiki/Andrew_Odlyzko
https://www.amazon.com/Bunk-Hoaxes-Plagiarists-Phonies-Post-Facts/dp/1555978169
https://a.co/d/1qOQ5eJ
https://www.penguinrandomhouse.com/books/139581/the-mark-inside-by-amy-reading/
Gonna just re-read The Match King, I guess.
one generation to the next.
https://www.georgiaencyclopedia.org/articles/history-archaeology/yazoo-land-fraud/
https://press.princeton.edu/books/paperback/9780691183077/fraud?srsltid=AfmBOorrvJ9Txs6T9bW6x9vcYK4ga-d-XULC4kZ2vLV9oW3A_fVf6AzE
I want to say "when Amway was illegal" was the height of the non-scam era, but I'm not even sure about that ...
One of the main reasons for revolt against the British king was the colonist desire for manifest destiny, which the king was against.
The Tulip Craze. The South Sea Bubble.
Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay is a very good read for those interested in the subject.
Never confuse brains with a bull market...
https://forty-five.com/papers/pan-american-trust-on-property-speculation-and-boundary-maintenance-at-tres-piedras-estates
Allen and his sibling bought up or "granted themselves" about half of Vermont. Amazingly corrupt.
Something tells me you might appreciate this link.
Under Cheops' pyramid"
Was that the contractor did
Cheops out of several millions?"
(Kipling, "A General Summary")
The new fame of Ea-Nasir should teach us all there's nothing new under the sun.
So now in addition to adultery, brothels & ignoring slavery & Indigenous genocide, & women I can add this. What a world. Thanks.
https://global.oup.com/academic/product/smuggler-nation-9780199360987
https://polisci.brown.edu/publication/smuggler-nation
Same as always.
Proclamation of 1763, King banned colonial settlement west of the Appalachians. In large part because we were conning the Natives out of their land (again), thats even in the Proclamation; “great Frauds and Abuses have been committed in purchasing Lands of the Indians.”
https://en.wikipedia.org/wiki/Ohio_Company
Washington also financed the Great Kanawha expedition to survey tracks in the Ohio Valley.
https://en.wikipedia.org/wiki/Loyal_Company_of_Virginia
the Proclamation was in their way.
The King had to go.
Here come the temper tantrums.
Life under the crown is impossible now, but even better, and stop me if you’ve heard this one, but there’s dangerous brown people on the border, and the King wont do anything about it, he wants the brown people to come kill us.
Wilson campaigned hard for the Chief Justiceship of the Supreme Court. He wrote to Washington a week before the first inauguration to make his desire known. Ultimately Washington chose NYer John Jay as first Chief Justice.
Rutledge had served on Supreme Court briefly from Feb. 1790 to March 1791, resigning to become Chief Justice of SC Court of Common Pleas.
I thought the states had huge debts during the revolution, and the farmers who lent the money were convinced they wouldn't get paid.
Hamilton then got the federal government to take on all that debt and honor it 100%, effectively ensuring huge payouts to himself and his friends.
I may be mistaken on remembering...