PostHeaderIcon Second Life Was First When First Life Was Second

I respect some web sites far more than others. For example, I respect The Motley Fool far more than I respect CNN (Cable News Network) - primarily because Motley Fool is looking out for you where CNN tries to influence you with some ridiculous spin.

Okay. CNN is nowhere near as bad as NBC, but I digress.

The point I want to make is this: The Motley Fool is hugely popular, well known and highly respected financial information site (and book series and system.) So, it strikes me funny as hell to see that Linden Lab and Second Life have gained the Motley Fool's attention. But not in the usual way for the usual reasons.

Rather a more sinister, unscrupulous reason. 
Second Life was First Life before First Life was Second Life a few months ago when Linden Lab put the kerbash (effectively-speaking) on all interest-paying banks and other ventures of similar design. This was done shortly after the Ginko collapse, which caused wide-spread panic throughout the Second Life economy and Linden Lab was essentially stepping-in to bail-out the economy after the Ginko collapse. The catalyst for all this, in hind-sight, appears to be the sudden-deth ban on all gambling and games of chance. Life imitates art?

Do you see the parallels here?

  • WaMu (Washington Mutual) = Ginko
  • United States Federal Government = Linden Lab
  • Bail-out by infusing money to keep banks afloat to protect the people = halt all banking to prevent money fraud to protect the people.
Oh this is so funny that it's not funny.
Maybe the treasury department should keep a close eye on the Second Life economy and start forecasting real life based on what happens in-world and on what Linden Lab does to influence the same Second Life economy.

Think I'm kidding?
Hell, no. Read this:

An Unreal Financial Crisis: "And in an art-imitates-life moment, Linden in January banned virtual banks from operating in Second Life because of risks to its economy. The irony? Real-world banks -- fine institutions such as, say, Wachovia (NYSE: WB) and Washington Mutual (NYSE: WM) -- were made exempt from the rule. Quoting a statement from the company made at the time:
Usually, we don't step in the middle of Resident-to-Resident conduct -- letting Residents decide how to act, live, or play in Second Life. But these 'banks' have brought unique and substantial risks to Second Life, and we feel it's our duty to step in. Offering unsustainably high interest rates, they are in most cases doomed to collapse -- leaving upset 'depositors' with nothing to show for their investments."

Déjà vu
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