I think it’s time to revisit the accredited investor laws in the US.
Companies are staying private longer, where only accredited investors (aka rich people!) can invest. Retail investors can only come in after IPO, when much of the upside has already been captured.
These rules were created with the best of intentions, to protect regular people from scams - a noble idea. Unfortunately, in practice they've often made it illegal to get richer, unless you're already rich. A regressive tax!
We have to judge policies based on their outcomes, not on their intentions.
These are two possible routes I see:
1) Replace the rule with something merit-based, like a financial literacy test. Pass it and you're accredited. Having a qualification based on competency rather than your bank balance or income seems far more fair.
2) Remove the rule entirely. Let consenting adults assess their own risk. Disclosure requirements stay and fraud enforcement stays to punish bad actors.
Everyone that worries about MSTR getting margin called
Needs to drop everything and watch this video NOW
So many people misunderstand Strategy's structure
There is no margin
There is no margin call or liquidation
Watch this video and listen to it explained by Saylor himself
CNBC Host: "We've got a war in Iran, we've got a spike in energy prices, we've got A.I. disruptions concerns, we've got cracks in private credit, and we have a weaker jobs report. How do you invest right now?"
Pompliano: "Buy #bitcoin."
Imagine if the situation were reversed and stablecoins were status quo, such that everyone had their money in entities backed 1-1 with US Treasuries.
And then some guy came along and was like, "I have this new idea called fractional reserve banking..."
We would laugh him out of the room.
@AltcoinDaily Stables are full-reserve money. Banks are fractional-reserve money printers, which only works when the world doesn’t understand how fractional reserve lending works. Those that use stables have graduated to a superior system. Banks will need to adapt.
ALL-IN INTERVIEW 🚨
Ray Dalio joins David Friedberg for another classic 🔥
-- The cycle that destroyed Rome
-- Why DOGE failed
-- Gold vs. Bitcoin
-- What economists got wrong about tariffs
-- The forces that will decide America's future
(0:00) Friedberg Introduces Ray Dalio
(1:29) Five Forces That Will Decide America’s Future
(7:26) Why Government Reform Is Nearly Impossible
(11:19) Gold vs. Bitcoin
(28:16) What Economists Got Wrong About Tariffs
(41:11) Is America Heading For Collapse?
@RayDalio@friedberg
Some people will hate this and say the leadership of America should be filled with PhDs, career non-profit execs or career politicians but I think hiring a cabinet of industry executives and CEOs to run America and solve problems is a better model.