Message from @tsarsNeezy
Discord ID: 453380275032948737
Well
they can exist
But shouldn't get government support
what's the regulations look like?
nearly non-existant
so you have no problem with them inflating your economy with bad credit
smart
ye
I'm sure that will work out well
@tsarsNeezy that's really bad ngl
why would you not regulate banks?
speculation has absolutely no productive force in an economy, yet it plays with the lives and well-beings of millions of innocents
it has no place in a non-materialistic society
I didn't say to not regulate them
I said minimally
so what would those minimal regulations be? Because a ban on speculation wouldnt exactly be minimal
what you mean by speculation
before you tell me about this being related to finance and not banking, investment bankers are heavily involved with this
That doesn't explain it very well
no this is saying "I will put $500 on something that has as much chance completely eroding as it does doubling in value"
for example, this is done with real estate
and regular people suffer as a result
So like a person investing someone else's money?
or like a Bank investing money?
investment and speculation is different
if you buy a house and rent it out that is investment
if you buy 10 houses hoping they will massively go up in price while there is an ongoing recession
that is speculation
you SPECULATE about the profits you'll make, or losses you'll suffer
So like making a weird investment
it's the financial equivalent of playing with fire
that has a small potential to be good?
oh
well
if you choose to invest that way it's your choice
but other people investing that way for you is bad
not only that, speculation isnt just risk taking
it almost always involves foul play
so like