The VC community is busy investing in payday loans (read financial products that further indebt citizens) whilst Aramco’s IPO is being pushed hard on retail ‘investors’ - why this increased drainage of wealth?
This is the most frightening. No one is going to read 680 pages and they’re admitting most people can’t understand it anyway. Should we really be trusting only bank staff to explain? There’s obviously a conflict of interests
We need a citizens advice bureau that can offer clear easy to understand financial advice for the average Joe in all of our nations. Without a basic understanding of money we’re going to lose even more cash from our wallets
Leveraging the religious establishment to bless a financial product that will drive even more capital into the hands of a few is asking for trouble in the long term.
It’s the same as the international investment community “blessing” the 15% interest rates at lebanese banks. And look where we are now. At least learn from our mistakes
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