Liberal Forum

FOS » 10 Jul 2024, 7:45 pm » wrote: ↑

10 Jul 2024, 7:45 pm

Hitler basically eliminated stock markets without any real negative impact on society. If some project needed investment, the state could do it.

The original purpose of the stock market (invented back in the 1600s) was to pool hidden sources of capital (from Sephardic Jews? Don’t recall the exact constituents) to finance otherwise illicit endeavors and cloaking them in legitimacy. 

Interesting to see that 4 centuries later, this still remains the case (eg Amazon, Google, Meta are Dept of Defense / CIA projects to carry out mass surveillance rather than being some “innovative” giant tech companies)

For the vast majority of history, people did not touch stock because it was well known that equity could collapse 80%, 90%, and even 100% overnight. They bought bonds yielding 5-7%.

The US stock market might be the greatest “innovation” from J-U-Us given its exceptional returns - a facet unlikely to last past the 21st century.