Before you cheer on the finance revolution…
Courtesy of Joshua M Brown
We can all agree that the current financial system is not perfect by any stretch. The question is, is the new system now being touted by the People’s Front of Libertaria, led by the likes of Marc Andreessen and Overstock CEO Patrick Byrne likely to be any better?
Chances are no, it’s likely to be even worse.
In fact, we propose it’s just a recasting of the old story of Animal Farm, where the animals band together to throw out their evil oppressors only to unwittingly replace them with an even greedier variety in the long run.
Hence, of course, the propaganda onslaught to convince you that what is being offered up is somehow revolutionary, when it’s actually nothing but the same old, same old. The revolution relates only to who the new overlords are.
Mythbusting Finance 2.0 (FT Alphaville)
The above from the sparklingly brilliant Izzy Kaminska at FT, be sure to read the whole thing.
Image via Pixabay.
