And the "You got no" locution is mine.
She has however been coming close to treating the style-over-substance crowd to the noun they hate even more than derision:
indifference.
From FT Alphaville:
Mythbusting finance 2.0
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.And financeratti should really have only one "t" like literati but it's damn near a neologism spelled my way so I'll go with it.
So let’s analyse what’s really going on.
Take the latest spin on the cryptocurrency movement as an empowering and cheap mechanism to take yourself to market without the greedy paws of the banks getting a cut.
Lovely in theory. Except… consider the overriding motives of a venture capital industry no longer prepared to benevolently support the no-earnings business models they love to fund — more often than not focused on communication, attention, brain-washing, reactance and manufacturing-consent type endeavours — because they’re burning through their cashpiles at rates that they can’t even stomach.
If only there was a way, you know, for mom and pop to burn their cash supporting the industries that like to lobotomise their children directly?
But how to convince the older generation to freely hand over money to the sort of businesses their kids love to love, but can’t pay for, but which go against the very interests of any parent focused on developing a well rounded individual fit for critical analysis and engagement in the real world? How do you convince parents, after all, to pay for their children to be indoctrinated and plugged into the compliance matrix? Turn the whole thing into an investment proposition, of course.
Here’s Byrne evangelising about a future where Wall Street becomes utterly decentralised and unsupervised, to the extent that everyone can take themselves to market at zero cost.
Code-named “Medici,” the project aims to democratize Wall Street in much the same way bitcoin seeks to democratize currency and payments. By operating separate from traditional stock exchanges and the big corporate banks, it could eliminate certain loopholes in the system and reduce the costs associated with issuing and juggling stock.Aside from the fact that the codename ‘Medici‘ is pretty telling in and of itself (surely the Medici didn’t end up becoming a multi-generational elite? – Ed), it’s the scant discussion over the fact that listings rules exist for a reason.
Let’s not even mention the fact that the little amount of decentralisation we’ve had thus far (we’ve had quite a lot, no – ed?) led to a massive wising up of the supposedly informed money management industry about how decentralisation doesn’t serve their interests at all....MUCH MORE
