Wednesday, August 16, 2023
#228 / It's Better In Bali (If You Did Something Bad)
That picture, above, is of Karma Beach, Bali.
Karma? According to the Merriam-Webster dictionary, "Karma" is defined as "the force generated by a person's actions held in Hinduism and Buddhism to perpetuate transmigration and in its ethical consequences to determine the nature of the person's next existence."
That definition is kind of convoluted, it seems to me. It's kind of hard to follow. However, you probably know the expression, "Karma is a bitch." That little phrase is a simple translation of the more complex definition furnished by Merriam-Webster. The online site that illuminates the meaning of that "Karma is a bitch" expression says that "Karma" means that "you get what you give."
Well, wouldn't that be nice? Doesn't that sound fair? Or, does that definition kind of sound like wishful thinking?
As frequent readers of this blog may recall, I have written many blog postings about cryptocurrency. Here is a link to a blog posting that catalogues some of them, and my listing there doesn't even count my blog post last Friday. As frequent readers of this blog will know, I am NOT a cryptocurrency fan! If you want to know why, you can sample some of my past pronouncements by clicking on that link to my earlier blog postings.
Today, I am advancing another negative comment about cryptocurrency, by referring to a long article in the June 11, 2023, edition of The New York Times. Here is the title of the article:
Paywall permitting, read that story in The Times. See if you think "Karma" really turned out to be "a bitch" for Kyle Davies and Su Zhu, founders of the crypto fund Three Arrows Capital. The investors in that fund lost everything when the fund collapsed, in what Wikipedia says was "one of the largest hedge-fund trading losses of all time." The founders of the fund, though, Davies and Zhu, came through just fine.
Despite the economic disaster suffered by their cryptocurrency fund, Davies and Zhu reported that they each have enough money so that they will never have to work again. Davies has pretty much "Zenned out" in Bali. Zhu has acquired a sumptuous residence in Singapore. They have both been traveling the world, and here is Mr. Davies' advice (and this is a direct quote): "If anyone has any problems, just go to Bali."
Bali is in Indonesia. And did I tell you this? Indonesia has no extradition treaty with the United States.
Karma is SUCH a bitch!
Or, maybe not, if you're rich!