Dumb money could only reach these
epic proportions
with massive government intervention.
And it’s the root cause of every financial crisis.
And #bitcoin will defund it.https://twitter.com/NickSzabo4/status/1153471576374829058 …
Nah. It's just strangers conning strangers, media manipulation which goes on with governments and markets alike. The main difference is the government adds arrest and imprisonment to the defrauding of strangers who think PR people are their friends.
![Patrick [🎃Freedom Is Scary👻]](https://pbs.twimg.com/profile_images/1130215591422365696/lL1pBmo0_normal.jpg)
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If normal people hadn’t been trained from youth to invest in things they don’t understand this epidemic wouldn’t be massive. My grandmother’s generation wasn’t nearly as easy to part with their savings.
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They’ve also been prevented from investing in things they do understand as they are not accredited investors. It’s illegal for them to learn how to become wise with their money. They can’t even learn that gambling is foolish in youth anymore.
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They are carefully domesticated lambs to the slaughter. They are supposed to only be slaughtered by government approved investments. But with crypto currencies subverting accreditatee investors laws the wolves that didn’t orchestrate this rushed in too.
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Or government-enforced investments, such as raiding pension funds by requiring them to invest in bonds "earning" negative interest.
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