Central banks funded cloud capital that destroyed market sovereignty

Evidence

I can almost hear Smith’s voice, which I imagine with a tinge of a Scottish accent, lamenting that after 2008, and in the name of saving capitalism, central banks snuffed out capitalism’s dynamism and advantage. I can imagine his dismay that harmful, quasi-feudal rent got a chance to exact a historic revenge on fruitful capitalist profit, with profit-seeking consigned to the aspirant petty bourgeois while the truly rich gleefully whisper to one another that profit is for losers. I can picture his exasperation that the treasured guardians of capitalism, such as the Fed and the Bank of England, had funded a new form of cloud capital that is today snuffing out markets and turning consumers from sovereign agents into the playthings of algorithms that lie outside of the effective control of markets, governments and perhaps even their inventors. — Yanis Varoufakis, Technofeudalism, 440

Categorization

• SEED: Angle: central banks as inadvertent feudalists — how saving capitalism in 2008 quietly ended it.
• corroborated: 2 independent passages support this claim — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 440
• XREF: connects to: Capital itself, mutated into cloud capital, has killed capitalism — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 12; Central bank printed money flows only to Big Business and cloud capital — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 375; Central bankers inadvertently financed capitalism’s own demise — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 388 (+7 more)

Broader Connections

• Cloud capital made humanity work for free or a pittance #expands (0.80) — Yanis Varoufakis, Technofeudalism, 444
• Financial markets destabilized governments without directly orchestrating their fall #corroborates (0.80)
• Cloud capital is capital’s mutation into feudal wealth extraction, not capital’s death #expands (0.75) — Yanis Varoufakis, Technofeudalism, 906