Yeah, the problem with that is that if they undermine the full faith and credit of the US government I suspect the assets they hold will be worth less than a cup of warm spit
Especially fiscally. If they keep going the way they are, each and every one of the billions of dollars they now hoard will become increasingly worthless as they devalue the US dollar. If they create hyper-inflation like the Weimar Republic underwent, their net losses are going to be amazing.
Like Deep Throat told Bob Woodward in All The Presidents Men, "Forget the myths the media's created about the White House. The truth is, these are not very bright guys, and things got out of hand."
That’s exactly what they want to do. Peter Thiel is whispering in the background. See https://vcinfodocs.com it sounds crazy but we’re seeing it play out in real time
I just want to mind my own business but these idiot socio assholes won’t leave us alone
When you look at their collaboration with BRICS nations moving to replace Western powers, combined with their belief the food chain will break down to the point of 8 Billion dying of starvation over 100 years (or less), it all starts to make sense they're condensing power & defendable city‐states
Yea, the only way billionaires can really wreck themselves is destroying the money supply and destroying the dollar and the US economy. But they've been grifting for so long they assume nothing idiotic they do will ever hurt them.
I keep hoping someone well point out to them, as forcefully as necessary, that "money" doesn't exist without the internet, and the internet requires a robust infrastructure.
And, as every single person who lived through (and especially invested during) the late 90’s knows, that gamble will fail. You cannot build something of value from nothing. The crypto bubble will eventually burst just as the dot-com bubble did.
I can’t make that decision for another person. What I do know is that there’s a hiring freeze at the FDIC - possibly a prelude to shutting it down entirely. So what happens if there’s a run on banks and none of their depositors’ funds are insured? Also, scary movement at the CFPB.
To be less metaphorical, if a bunch of Americans crash the American economy, and their money is largely tied up in that very economy, why expect that they’d be the ones to buy up everything in the ensuing chaos.
for many billionaire bros they are divorced to a degree from financial crashes and if it does have 'unfortunate' consequences that's why they maintain a bunker in New Zealand e.g. Peter Thiel
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https://en.wikipedia.org/wiki/Rally_%27round_the_flag_effect
I just want to mind my own business but these idiot socio assholes won’t leave us alone
More in this 🧵https://bsky.app/profile/diffusedwavelength.bsky.social/post/3lhquzdak3s2y
1. Their friends would get pissed off at them when they see their multi-million $ portfolios disintegrate before their very eyes
2. A population can turn angry after being unable to afford 3 consecutive meals.
His "wealth" is predominantly in stocks.
He...isn't immune to a bad crash either iwbh