Pot investing will be next.

I was skeptical of that first post, but you are absolutely right: That was awful. What next? A pot dealer on why you should calm down by smoking instead of taking a walk?

What she's saying kind of makes sense if you believe that crypto produces giant returns. Race does impact how much wealth you are able to build through the "traditional" middle class ways, like 401k and housing. That's because typically even with the same income and college degrees, black people don't have the same family wealth to pay for college and a down payment, and as a consequence may not be able to invest in 401ks as early. Plus there still is de facto discrimination in the housing market.

But ... and big but ... this only makes sense if crypto is really a good investment.

The white men who control crypto need new buyers to protect their Ponzi scheme.

Anonymous wrote:Crypto shill exaggerates reality and uses hyperbole to hock crypto, film at 11.

No one is “locked out” of traditional financial markets, which are definitely more stable than the tulip see saw Greater fool theory game that is crypto. This is coming from someone who invested in Shiba Inu and ether on a small time basis knowing they were scams.

Sadly, many poor people, who happen to be POC, saw a get rich quick scheme and lost money. I thought I could get maybe long shot moon rich when i invested like $300 in dogelon mars, but I always knew it was a Ponzi scheme and have 99% of my core investments in real estate and index funds.

We need more financial literacy courses, less claims of victimization, more grit and for people, I mean everyone, to learn investing patience and the power saving and compound interest.

Shills gonna shill. But this was on fing morning edition. Made it sound like “oh Americans don’t floss enough, recycle, or invest in crypto”

Crypto shill exaggerates reality and uses hyperbole to hock crypto, film at 11.

No one is “locked out” of traditional financial markets, which are definitely more stable than the tulip see saw Greater fool theory game that is crypto. This is coming from someone who invested in Shiba Inu and ether on a small time basis knowing they were scams.

Sadly, many poor people, who happen to be POC, saw a get rich quick scheme and lost money. I thought I could get maybe long shot moon rich when i invested like $300 in dogelon mars, but I always knew it was a Ponzi scheme and have 99% of my core investments in real estate and index funds.

We need more financial literacy courses, less claims of victimization, more grit and for people, I mean everyone, to learn investing patience and the power saving and compound interest.

Anonymous wrote:Black Americans have been far more likely to invest in crypto than most other Americans. The reasons are complicated and often counterproductive. It often comes off as gambling.

Investing in crypto IS gambling

Anonymous wrote:Black Americans have been far more likely to invest in crypto than most other Americans. The reasons are complicated and often counterproductive. It often comes off as gambling.

When things go bad, THEN they will whine about everything and everyone...except their own choice.

Your money. Your choice. Your consequences.

Why can't she participate in the stock market? This makes no sense / do any of the brokerages check to see the color of your skin before taking your money?

Ugh this is the new crypto talking point. That it can’t be bad bc BIPOC are disproportionately invested in it. Of course, it actually makes crypto more insidious bc those are people who are least able to afford having all their savings wiped out when crypto drops 50%. I’d love to know what the barriers are to this woman opening an online vanguard account and putting her money in an index fund

Black Americans have been far more likely to invest in crypto than most other Americans. The reasons are complicated and often counterproductive. It often comes off as gambling.

Anonymous wrote:wow this is just … major anti-vaxxer vibes.

“FADEL: I mean, the perception is, is that crypto is much more volatile than traditional markets. Is that the case?

MESIDOR: Again, depending on your relationship with money, depending on your relationship with traditional finance. As a Black woman who has a master's degree, who's middle class, the traditional financial markets is riskier to me than cryptocurrency is. I have never been able to fully participate.”

I really want to know how she can't participate? Will Fidelity refuse to open an account? I've opened a dozen bank accounts at banks I've never been to; I mean they could maybe guess my race by my name, but what is really she talking about?

Now redlining and terrible loan products, that is definitely a racial charged topics. And IPO access or other tippy top for "accredited investors" sure, a lot of people are locked out of all colors, but basic stock investing, savings accounts, hard to imagine access to that.

Of course she is paid to shill for crypto, so there's that.

wow this is just … major anti-vaxxer vibes.

“FADEL: I mean, the perception is, is that crypto is much more volatile than traditional markets. Is that the case?

MESIDOR: Again, depending on your relationship with money, depending on your relationship with traditional finance. As a Black woman who has a master's degree, who's middle class, the traditional financial markets is riskier to me than cryptocurrency is. I have never been able to fully participate.”

gross

https://www.npr.org/2022/08/30/1120023698/why-americans-havent-been-convinced-on-cryptocurrency

I think crypto is a complete vapor scam, but whatever. Either way it is radically speculative and the way this frames it as way to advance minorities (rather revealing that they are likely preyed upon) while whites avoid it just feels like an ad for crypto in morning edition