This should surprise no one, the whole system is designed to move wealth away from poor people working for wages, into the hands of rich people who earn returns on capital. Surely this comment will get downvotes, but it's useful to learn about how the entire financial Rube Goldberg machine works in order to understand this in depth. Ray Dalio's talks (you can find many of them on YouTube) are a good place to start if you want a light introduction.
IMO it's time to rethink the financial system (and I'm a strong proponent of UBI as a way to redistribute wealth). Just because it's been done a certain way for decades doesn't mean it should continue to operate that way.
The financial system as we know it today was designed in an era where information did not flow freely, and we did not walk around with an internet connected computer in our pockets.
IMO it's time to rethink the financial system (and I'm a strong proponent of UBI as a way to redistribute wealth). Just because it's been done a certain way for decades doesn't mean it should continue to operate that way.
The financial system as we know it today was designed in an era where information did not flow freely, and we did not walk around with an internet connected computer in our pockets.