On Tue, Aug 16, 2016 at 06:09:23PM +0000, jim bell wrote:
https://www.bloomberg.com/view/articles/2016-08-16/hedge-fund-manager-profit...
SEE that email quoting symbol above - the ">"?!! Yes I thought you could - ther'es a dang space after it!!!!! That's just, terrible. This is gotta stop!
"A vital function of the financial system is to shift risk, but that is mostly a euphemism. Finance can't make risks go away, or even really move them all that much. When the financial system shifts the risk of X happening from Y to Z, all that means is that Z gives Y money if X happens. If X was going to happen to Y, it's still going to happen to Y. But now Y gets money. Death is a central fact of human existence, the fundamental datum that gives meaning to life, but it is also a risk -- you never know when it will happen! -- and so the financial industry has figured out ways to shift it.
You know, it might be really funny if in fact all the IMF's SDRs (special drawing rights - i.e. sanctioned right to print money, even without any loan-promise-to-repay backing those fiats) were really backed by birth certificates, and some portion closed off each month with corresponding death certificates. Could explain why demoncratic governments are so hell bent on ever more intense cotton-wool-society statutes? (a few years back, we had someone in Victoria, Australia, booked for speeding at 61km/hr in a 60km/hr zone - don't recall if they won their court case or not - it IS an absolute offense after all). Naaaaah! They would never arbitrage all human lives explicitly against fiat dollar printing rights - that would be like, like, like a conspiracy or something.