When I was a child, my parents taught me not to lie due to the moral and social problems that lying creates. Lying misinforms the people you’re talking to about both the subject you’re talking about and the fundamental nature of your character, while discoloring future information you provide and weakening the counsel that you give. Lies are also extremely brittle, with each repetition of the lie usually requiring a new lie to go with it to sustain the narrative of the original lie. Lies don’t even have to be straightforward - you can leave information out, you can tell a
and mere hours after this, Voyager filed for chapter 11 bankruptcy:
It‘s all on the blockchain … but nobody can see anything on the blockchain. Well …
To be fair, in theory you can analyze any transaction in the blockchain, in practice it is super complex. And things like a banking account aren’t showing up.
Some people don't realize they are in a cult until it's too late. I mean, capitalism being the dominant religion, it has always spurred offshoots and derivative models but all are inexorably tied to the root system. Some of the language in the cryptocurrency community is reminiscent of millenarian cultism - this is especially true in some of the newer investing subreddits where people clamber over each other to proclaim divine evidence of the next 'big move' or the butterfly wing flap that will set off the hurricane that is the next global financial crisis.
In all these spaces there is no shortage of sincerity and "good vibes" but it ultimately is beholden to the whims of the financial elite and the complexity of the system they created. How little 'control' over the capitalist system is actually exerted when it thrives on chaos and ruin remains unquestioned.
How is what you describe here any different from the 2008 collapse though? Greedy bankers lying to people, putting billions into unsustainable loans and gambling on the stock market instead investing in the economy. Law regulated banks playing by the rules it should be all smooth sailing right? Wrong. And what happened to them as a consequence? Nothing! They are all still out there working on their next scam while literally all of us have to bail them out and pay for their mistakes for generations to come. Not a cent of the $700 billion bail out package is ever going to reach the ordinary people and help the economy because the banks keep doing the same. Including the central banks that are becoming the biggest stock owners in the markets because they can print as much money as they want and buy real assets?? How can that be legal? The stock market value is twice the nation's GDP...how is that possible? In April 2020, 30 million people are unemployed but the stock market had its best month since 1987. The whole system is broken and the choice we have is to trust the "regulated" or the unregulated crooks but the outcome is the same. All that said no wonder people have had enough and are ready to give a chance to some new crooks as the old ones have only proved way too damaging for too long.