Message from @Jefferson Davis
Discord ID: 638380624633397275
thats such a dumb fucking take i cant believe it even came out of your mouth tbh
like how can you think specialist investors are equivalent to an individual normie?
<a:E_:610580048231268362>
what's the purpose of the 'social bank' in this arrangement, besides being an extreme layer of paperwork
<:jew:297512475127971841>
well it depends, in some cases, there is no difference at all
have you ever fucking heard of a mutual fund
Yes, but you can exit a mutual fund
and that causes problems for the fund, depending on how big you are
and this is a mutual fund you cannot exit
that's not a mutual fund then
that's something else pretending to be a mutual fund
thats not my point
think harder idiot
why do people put money into a mutual fund
instead of investing it themselves
various reasons, sometimes hoping the fund managers are better than they are, sometimes for tax reasons or they have to as a vehicle, etc
mutual funds cover a huge range of activities
so which one do you think a socially owned bank would perform the function of
think hard
You can exit from mutual funds anytime on payment of exit load except closed ended mutual fund and tax saving (ELSS) mutual funds
Sped
That depends on the goal of the socially owned bank
why the fuck would a normie be able to invest their money better than a specialist investor
and what 'socially owned' really means
hint: they wouldnt
<:thisgay:588652395136024586>
not always about BETTER there are sometimes other reasons for being in a mutual fund than just doing it yourself, including friction, etc
Gotem
youve missed the point again
and mutual funds aren't the only kind of 'funds'
whats it like to constantly have points whooshing past your head
but regardless, this is only half the reason for socially owned banks which you cannot withdraw from
theres plenty of other reasons which your dumb fucking mind hasnt thought about yet
You haven't described any reason to have a 'social bank' yet
and when you are talking about a bank you are makign some assumptions about the monetary system, etc, which is a whole other can of worms
a) specialist investors perform better than clueless normies in markets
b) socially owned banks can have wider mandates than typical corporate mandates, such as regional development goals, a focus on restoring environment, etc
c) this isnt private, its social. its meant to include the whole of society mostly equally in the process of wealth accumulation as the economy grows
if there are some social welfare goals, the honest way to fund it is direct monetization
bruh
stop whitewashing
socially owned banks are clearly a way for these things to be achieved