A few months ago I received an email from my investment company advising me of changes that impact the funds I invest in.
I’m used to these invariably disappointing emails – sorry but your rent is going up, sorry but your subscription payment has increased, sorry but your interest rate has been lowered, etc.
This time, however, they were very excited to tell me that some regulatory restrictions had been lifted and companies could now buy back greater percentages of their own stocks and reinvest larger portions of their profits into single vehicles.
Essentially, they would like to invite me to share in the good news that my primary diversified index fund is now significantly less diversified and I can subsequently enjoy artificially inflated unit costs as extraction politics takes another precarious leap forward.
This ‘fuck you, got mine’ mentality when applied to global financial systems is at least highly alarming and at most beginning to take on the characteristics of an imminently catastrophic Ponzi scheme.
In early 2010 I worked in social media and the condemnation brands would endure for liking their own content in order to influence the Facebook algorithm is now an almost quaint comparison when set against the fraudulent antics of the world’s largest economies.
Perhaps hiding cash in a sock drawer isn’t such a bad idea after all.
Digital Becca 