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originally posted by: TXRabbit
Interesting.
I've mentioned numerous times that a lot of the discourse across US cities could be nothing more than a land-grab for wealthy investors.
Drive the prices down....swoop in to purchase and make a killing
originally posted by: FamCore
One jaw-dropping detail that came out in the film was that out of 37 cities that were burned/vandalized/etc. by the riots last year, 34 of them had Federal Reserve banks in them. Catherine made the point that when the "new property owners" come in, they will be close to the Fed. Reserve banks locations making it easier to transition to a digital-only payment system (I am oversimplifying it I'm sure).
Furthermore, the actual buildings and areas of those cities that sustained the heaviest damages were in "Opportunity Zones", where people like Jeff Bezos can buy up the property using proceeds from shares of Amazon stocks without having to pay capital gains taxes on them.
So I said to the wonderful team-mate who was building this, I said, ‘Do me a favour. I want you to put a box called ‘the Federal Reserve’. And I want you to check the box, there are 12 banks, one headquarters and then the branches, for a total of 37 locations. I want you to check the box wherever in . . . in any city where we have a branch or a bank or the headquarters, I want a check.’ And what we discovered is 34 of the 37 bank locations have riots. And I said, ‘Well, wait a minute, that’s a pattern.’ (laughs) There’s something here. Let’s drill down.’ So we started with Minneapolis and we said, ‘Let’s take the data of all the buildings that were harmed or burned, or businesses and we’ll map it. You know, we’ll do a GIS software and we’ll map where these businesses were and how close they were to the Federal Reserve Bank.’ And so the first thing one did, there’s a . . . there’s a street going across Minneapolis called Lake. And we map them. And one of the things we did when we mapped them was we drew pictures of where the opportunity zones were. Do you know what an opportunity zone is? An opportunity zone is a tax shelter mechanism created in 2018 to help the tech billionaires, as they sold their stock, avoid capital gains. So you can . . . if you’re Jeff Bezos, who sold $10billion of stock this year, if you were to roll over your proceeds into opportunity zone investments and handle it in a certain way, you could avoid all capital gains tax. So this is fantastically profitable. Now, if you look at the riots, when I first saw how all the buildings and businesses destroyed along Lake Street were right at the bottom of the opportunity, I started to laugh and I said, you know, ‘I was Assistant Secretary of Housing. That’s not a riot pattern. That’s a real estate acquisition plan.’
Big Tech are very afraid of this woman