20 sats \ 3 replies \ @tomlaies 29 Sep 2022 \ parent \ on: Bank of England bails out BlackRock bitcoin
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
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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