Just wait until these workers discover that market manipulation and the subsequent tax scams are a driving force behind most of the money flowing into their industry. https://missionlocal.org/2019/05/toxic-donors-are-coming-under-fire-at-art-museums-but-not-in-liberal-san-francisco-what-will-sfmoma-do/ …
-
On manipulation: https://qz.com/103091/high-end-art-is-one-of-the-most-manipulated-markets-in-the-world/ … FT Alphaville has also covered a lot on this market over the years.
Meh, no scandal here from my read => skim. It's the tax stuff with donations that might be shady.
-
-
Yah they artificially prop up the value with widespread manipulation and then take supply off the market by donating it for a tax write off (and permanently removing supply from the market, keeping the price high).
-
I was thinking that "loans" to museums or whatever could function as temporary tax deferrals, not all that dissimilar from the billionaire forms a charity that never gives money away game.
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.