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robbinhood69 t1_j2629kq wrote

Reply to comment by gucciflipflops337 in Progressive: The Valuation Enigma by 2ndSifter

what good reason is there to wrap instruments in an instrument called a synthetic GIC ?

Even homeboy said "oh they are required to hold fixed income and that's why they put it in GIC" but GIC is not just fixed income shit

it's a way for them to get around legislation so that it's technically "fixed income" but it's backed by shit that is not fixed income

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gucciflipflops337 t1_j262twh wrote

Clearly you cannot comprehend the explanation that has been given to you. You’re dead set on it being a “scam” or some type of scheme.

Go look up the definition for dunning Kruger and you’ll find your answer

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