@JazzyKindaFella @povertyandinequality @workersrights @TheBreach @thetyee @pivot @ledevoir
And once again, with #AltText4You, because this post is important and people with visual impairments need to be able to read it too.
Because this is a long text, I can't get the whole thing into one #AltText, so the rest will be in subsequent posts on this thread.
/Continued
@JazzyKindaFella
Continuation of #AltText from previous post:
And so, with remarkable efficiency, we may be arriving at a point where, whether you like it or not, you are investing in war. Not because you
consciously chose to, but because modern finance rarely asks for permission. It integrates. It diffuses. It
embeds.
/Continued
Continuation of #AltText from previous posts:
Just as complex mortgage-backed securities seeped into pension funds and retirement portfolios before the 2008 Financial Crisis, instruments tied to defense financing could quietly become part of the same financial plumbing that underpins everyday savings. Deposits in major banks, such as Royal Bank of Canada or Toronto-Dominion Bank, feed into broader lending and investment pools.
/Continued
@JazzyKindaFella
Completion of #AltText from previous posts:
If those banks help underwrite DSRB bonds or finance defense projects, then ordinary savings are, at least indirectly, part of the system. You won't need to opt in. The system will do it for you.
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End of alt text, my commentary in next post.
/Continued
[Read thread above first]
While I understand the motivation behind this -- the world actually has become more dangerous -- I think it is an extremely dangerous idea which will lead to catastrophic arms races and thus to war.
#Capitalists have been able to profiteer from war for a long time. The threat of war makes it easy to extract revenue from taxpayers. By securitising defence budgets, this proposal will incentivise arms companies to foment international conflict.
Simon Brooke