Blind Trusts – what’s the point?

I did not begin this blog to be a political activist. Initially it was simply a part of a course requirement for a social media and e-commerce paper I was taking, then I decided to keep it going cause it was a useful tool for me to clear my mind of the million random thoughts that run around my head on any given day. I use this blog as a catharsis to help clear the head and achieve more mental focus.

So I really have tried to keep away from wading into any topic which requires any sort of deep thought on my part, as that defeats the purpose of trying to achieve a clean slate. And as this is a sort of exercise in purging the mind of superfluous thoughts, I also haven’t been concerned with trying to prove anything by providing a list of references that allow anyone that stumbles upon this blog to fact check me, I am not trying to be a reputable source of information. With that said I am going to change course this time, because I have been following the shambles which is US politics at the moment, and I am amazed at the sheer amount of ridiculous statements that are being made, directed at the voting public from people that clearly don’t have a clue what they’re talking about. Worst still, many of these clueless fools are actual elected representatives. For this reason I thought I would create a small series of posts to clear up a few things for any Americans that stumble upon my blog.

But, these posts are not intended to be taken as definitive expert statements, these posts are based upon my personal experience, and this will change based upon where in the world you live, your gender, ethnicity, religion, and socio-economic status, because yes all these things matter in how you form your understanding of life, in other words what you will take from each experience. This is why if you expose 20 people to the exact same experience you will most certainly NOT get a single shared description to that event by all 20 people. Every previous experience, every thing you have read, seen, heard, been taught in either schools or churches whatever wherever is going to influence and help shape everything you see, hear, read, experience afterward and will shape how you interpret and come to understand and know the things you know. It’s not that one person is right and another wrong, it is simply we all understand the smallest pieces of knowledge in different ways which are personal to us because it is shaped by everything that came before it.

So how I understand and interpret information that is presented to me is through the eyes of my experiences. I have two degrees; a BA with a major in social anthropology and development studies minor, and a Bachelor of Business majoring in Business Information Systems and I also have a minor in Geography. Plus I also have a diploma in Web development. So each of these subjects have clearly shaped a lot of the way I see the world, and some of this study has even led me to reinterpret how I understood some of my previous experiences as new light was shed on old events. I have a managed retirement investment account, but, I have no idea what this account has invested in on my behalf (unfortunately), and I don’t have the income available for me to invest on my own behalf, so basically I actually have no idea what my own economic self interests are. I guess you could call it a blind trust, as I cannot push any ideology for my self interest with any certainty that it may not be harming my own self interests. My personal self interests in this respect is best served by taking a balanced outlook on what I select as right from wrong, a balanced approach is simply going to deliver me the greatest likelihood that I will benefit from the policies and decisions I support at least 50% of the time.

If I decide to climb aboard an ideologically driven campaign which ignores evidence there is a very high chance that it could pay off at a much higher rate than 50% of the time, but, that brings a far greater likelihood that I could be 100% wrong and lose it all. This is  really important to know about people because personal bias is very strong and impossible to eliminate. Whatever anyone wants to tell you the truth is that personal bias leads to one of two results, you either favor your self unfairly at the expense of others, or you try to counter your bias by being overly harsh upon yourself, which is also unfair. So a blind trust allows someone in a position of power to make decisions without any bias that will influence their decisions one way or the other. It’s why businesses like to pay their executives in shares, if they hold shares in the company they have a personal incentive to make that company successful, and do whatever the law allows to grow their profitability. However, under this situation these people are not really going to have any conflict of interests resulting from this, and it is private enterprise which is considerably different from those working in public offices.

People in public office need to either excuse themselves from being involved in any decisions that they might personally benefit from, as this is a conflict of interest, or divest themselves of that conflict. To do this you can either sell your profitable investments or you can have your investments stored in a blind trust so you simply no longer no where your investments are held, so have eliminated you personal economic bias leaving you free to base decisions on the best outcome for the majority. Because your simply most likely to be part of the majority than the minority. If you find yourself in a position of power it is simply just the intelligent thing to do to use a blind trust, that way you cannot be held legally liable for decisions which favored you unfairly at the expense of others.

If you know of anyone that has found themselves in this position and has not stored their own personal wealth and assets into a blind trust, they are being very naïve and incredibly foolish. However, for a blind trust to work it must be blind. That means it is being managed by someone that you have no daily interaction with, and will not give you any insights about where your investments are held. You cannot pass your money over to someone you are close to and expect them to not tell you if your doing something to undermine your own wealth. This is because family and friends also have a personal bias to ensure that you remain wealthy. In other words if you make a decision that will impact your wealth they will tell you about it to prevent you suffering personal loss under their watch and potentially damage that relationship.

Now its pretty clear to most people that have any political understanding at all that Donald Trump has put himself in this situation. Now if you have read this, you need to decide if he is a man that will allow his own wealth to suffer to improve the lives of masses? There is one piece of evidence that might be worth keeping in mind when you make this decision,  Donald Trump has removed the ban on asbestos (a well known and proven absolutely carcinogen that causes serious disease such as fatal lung cancers), there is one reason only for removing this ban, cheaper building costs even though those savings will result in deaths. So now you decide, are his decisions based on a balanced what is good for the majority or what is good for me?

In a footnote, either way you really should not go anywhere near asbestos, it will kill you.

 

 

 

 

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