I saw the documentary -- while it’s possible, he doesn’t even mention bitcoin, so how on top of things can he really be, second it was released during the Biden admin which was a whole different bunch of kleptocrats, and third it’s probably not the base case in any event since so many people of the ruling class own stocks. I would not make investments decisions based on something like that other than hedging a bit for tail risk.
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I’m not sure what you’re arguing here or what Bitcoin has to do with his book. I didn’t watch the documentary but I listened to the audio book read by guy swan. The point is, stocks are not legally the property of Americans. They are IOUs that can be repossessed. To assume that something like that will never happen is irresponsible imo. Why would they legally change the ownership of these assets? Why does one organization hold all stock certificates on behalf of users when people used to custody their own stock certificates before?