Tuesday, January 05, 2016
Sovereignty helps 2
ZeroHedge discusses the shutdown of a major hedge fund. The owner of the fund sent out a highly informative letter to his customers, telling them why he was returning their money. One of the points:
...but surely never has so much of the world been governed by leaders where the logic of that peculiarly parochial yet multi headed beast – nationalism - trumps all (China, India, Russia, Turkey, South Africa, Malaysia etc. etc.). Almost by definition the path of logic within nationalism is difficult for ‘outsiders’ to follow with any confidence, leading to highly unpredictable and potentially dysfunctional modelling outcomes.This breakdown of centralized modeling is something I'd been hoping to see for a long time....
Paired symptoms of our modern terminal disease are securitization and centralization. Everything in the world must be commoditized so Goldman Sachs can make trillions and trillions and trillions and trillions by creating derivatives and options and swaps and option derivatives and option derivative futures and option derivative future swaps and future index swap option derivative option index share futures. Our marvelous American talent for innovation, our constant invention of new financial crimes, cannot continue unless everything is first centralized. When mortgages remain strictly between the original bank and the borrower, Goldman can't chop them up into futures. When health care is strictly between the doctor and the patient, Goldman can't chop up the accounts receivable into futures. When electricity was generated in the City Power Plant and used solely by people in this City, Goldman couldn't chop the current into purchasable shares. And so ad infinitum.... but didn't really think it would happen. Nationalism WORKS! Let's have MORE! = = = = = Sidenote: Hedge funds are parasites, but the founder's Farewell Letter is excellent. Informal, jargon-free, full of information and full of candid thoughts. If all corporate and governmental authorities emulated this approach when talking or writing to their customers and citizens, we'd have a lot less rebellion and discontent. JUST TREAT US LIKE FUCKING ADULTS FOR FUCKING ONCE.
Labels: Blinded by Stats, Гром победы
¶ 8:54 AM
