116 sats \ 6 replies \ @nerd2ninja 29 Sep 2022 \ on: Bank of England bails out BlackRock bitcoin
This is why Occupy Wall Street happened. What the fuck does BlackRock need a bailout for?
This is exactly why money needs to be separated from the state. We're all getting fleeced.
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"Give me control of a nations pensions and i dont care who makes its laws"
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It's about pension funds that are assets under management but not BlackRocks own property on their own balance sheet.
That's accounting 101.
But you are right in that is why occupy wall street happened: lack of basic financial knowledge
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So blackrock mismanaged it and now needs a bailout. It's the same thing.
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I'd say that it isn't blackrocks fault that we live in a monetarysystem that is basically like a shitcoin where a centralized entity can rugpull. Because that is basically what happened.
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BlackRock in particular is a prime beneficiary of the "Cantillon Effect." This essentially means, “he who was close to the king and the wealthy”, likely benefitted from the distributional choices of currency through the system.
Basically, BlackRock's connections to the corrupt central bank systems ensure it benefits most from the corruption
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