Does crypto live up to the hype? Not really. But neither is it a failure, as some of its detractors claim. Wall Street has a stake in its carefully managed survival.
The "yield-starved" hypothesis is very good. Wall Street endlessly creates synthetic vehicles, either for sale or for themselves, and the vehicles are always fragile. They want them to be buffered long enough to generate returns. This is similar to what they're doing with those crackpot social development bonds.
Thank you Colin, clear, concise, no hyperbole.
The "yield-starved" hypothesis is very good. Wall Street endlessly creates synthetic vehicles, either for sale or for themselves, and the vehicles are always fragile. They want them to be buffered long enough to generate returns. This is similar to what they're doing with those crackpot social development bonds.
Exactly. Carbon credits is basically a rent-extraction scheme. Green-washing.