RE: HBD Bond Market
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I stopped reading half way through it, just a few paragraphs after
Welcome to the pyramid scheme that is legacy finance.
The big issue is when hive goes up, that hbd won't be shit. So hbd bets directly against hive, when hive is down, that hbd is a lot of hive, with the APR at 20%, it will be a joke to power up.
A pyramid scheme pays old investors with money from new investors, the important characteristic being that VALUE pours in, and is syphoned away by the schemers. In our world, nobody is really scheming, its all on the up and up, what backs a bond? Government, or as the fed says, the future power to tax, and the Belief in the Currency that you can redeem it in, or Full Faith and Credit of American People.
My faith in the credit of the American people is reflected in my bond portfolio, which doesn't exist. I happen to know some American people and I wouldn't lend them a boomerang. It would never come back to me.