If X goes up, my Y goes down. It’s all fake. It’s all just shit on a server with no value. Bets on bets on bets on bets. Insanely complex at times. Similar to synthetic CDOs during housing crisis, there are derivatives of derivatives. Meaning there are series of bets based on not even the market, but on the performance of other bets. If X goes up, my Y goes down, but Joe has a derivative of that, so he also goes up or down based on what position he took.
Leverage on top of leverage on top of leverage. It’s just another way for bankers to create work and profits for themselves. It’s just numbers, but it doesn’t represent real value. It’s not a pile of coal. Or gold. Or stock. It’s all just bets. Pixie dust.
There’s no risk for the banks. Everyone involved is wealthy. Worst case their bets go bad and they get fired. Still millionaires. They don’t even give a fuck if it collapses. No one is going to jail. They will be bailed out. Worst case some banks completely fail, and then the people will get hired at other banks.
History has taught the bankers that stealing big is the best way to get away with it. If the entire system explodes, no one person is guilty. They don’t even attempt prosecutions. They just bail out their friends with taxes that will be paid by our grandchildren’s grandchildren.
Derivative is code word for bet.
If X goes up, my Y goes down. It’s all fake. It’s all just shit on a server with no value. Bets on bets on bets on bets. Insanely complex at times. Similar to synthetic CDOs during housing crisis, there are derivatives of derivatives. Meaning there are series of bets based on not even the market, but on the performance of other bets. If X goes up, my Y goes down, but Joe has a derivative of that, so he also goes up or down based on what position he took.
Leverage on top of leverage on top of leverage. It’s just another way for bankers to create work and profits for themselves. It’s just numbers, but it doesn’t represent real value. It’s not a pile of coal. Or gold. Or stock. It’s all just bets. Pixie dust.
There’s no risk for the banks. Everyone involved is wealthy. Worst case their bets go bad and they get fired. Still millionaires. They don’t even give a fuck if it collapses. No one is going to jail. They will be bailed out. Worst case some banks completely fail, and then the people will get hired at other banks.
History has taught the bankers that stealing big is the best way to get away with it. If the entire system explodes, no one person is guilty. They don’t even attempt prosecutions. They just bail out their friends with taxes that will be paid by our grandchildren’s grandchildren.
Comment I just made: Basically our usury masters creating something out of thing air with no intrinsic value, and getting idiots to buy it.