Nick Szabo  🔑

True. Which of course is really only clear in hindsight. If offered the option now, would anyone with a brain say "yes, I'll lend my money to a government for war"

Of course they would. They are still "risk free". If you don't believe me ask your typical financial advisor or macroeconomist.

Fair point haha. Maybe this is just to say that people then were suckers too. However, obviously I agree with JW on the sentiment

And if they outlawed gold holding to push you into the USD you might as well make a few bucks. Either way you are forced to finance the war and either way your money will go to zero if you lose. But we are talking about mETH and #bcash and #xrp

As it relates to public schooling, I unfortunately think xrp would have had no shortage of investors in 1941. Or 1928...or 1913...and so on. Ponzi Scheme's namesake came around the turn of the century, duped 30,000 in a few months on promises of 2x their principal in 45 days

Fools have always existed. But if you can see the government has greatly subsidized something you know there would be a lot less without it. I’ve already outlined several ways promote and encourage speculation without insight. But here is another: Inssider trading is illegal.

But secret insight is the definition of smart money investing as it is the only way to earn profit. The only way to be a successful speculator. That one law has done more to encourage foolish investing than anything Ponzi ever attempted.

I don't think anyone in here would disagree with any of that. I think szabo and I were pointing out that mandatory schooling wasn't the point at which dumb money magically flooded the market