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(lemmy.ml)
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this post was submitted on 04 Jul 2026
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that's also likely a good defense against stagflation, which the USD (and probably the EUR) are likely to see soon
Exactly, the rich can see crashes coming early, so they pull out of liquidity to protect their assets. As a bonus, when the crash happens, they can swoop in and buy up the assets others are forced to let go on the cheap. So, each crisis ends up acting as a black Friday for billionaires and a massive wealth transfer to the top.