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Waltzing with Anarchy Episode 3
- Asset custody has always been a risky endeavor throughout history, from ancient times to modern financial systems.
- In ancient civilizations like Rome, entrusting wealth to temples or moneylenders posed risks of loss or misuse.
- Feudal serfs and Silk Road traders also faced uncertainties when relinquishing control over their assets.
- Ancient Greece saw moneylenders seizing funds during conflicts, leaving borrowers vulnerable to economic turmoil.
- Embracing non-sovereign currencies like gold exemplifies retaining autonomy and avoiding custodial risks.
- In the digital world, self-custody is emphasized to prevent potential liabilities and maintain ownership.
- Historical examples like Bernie Madoff's Ponzi scheme and Lehman Brothers' downfall highlight the dangers of custody relinquishment.
- Mt. Gox's collapse in the crypto realm showcased how investors lost assets due to trusting a third party with custody.
- Current financial landscapes oscillate between promise and peril, influenced by technological advancements and regulatory challenges.
- The importance of personal vigilance, digital autonomy, and embracing defiance in the face of potential chaos is emphasized for a secure financial future.
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