Charles Hugh Smith's Substack

Charles Hugh Smith's Substack

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Charles Hugh Smith's Substack
Charles Hugh Smith's Substack
Ours Is a System of Fraud, Swindles and Corruption

Ours Is a System of Fraud, Swindles and Corruption

But all bubbles pop, and there are no tricks left to fund both the greed of the few and the needs of the many.

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Charles Hugh Smith
May 23, 2025
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Charles Hugh Smith's Substack
Charles Hugh Smith's Substack
Ours Is a System of Fraud, Swindles and Corruption
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Every society / economy is a distribution mechanism that distributes:

1. Gains

2. Losses

3. Risk

4. The costs of securing the sources of gains.

As a general rule, markets / economies don't really care who ends up with the losses, and this is why markets / economies are fundamentally pathological structures: the single-minded focus is to maximize gains and mi…

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