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Selectors by berniesanders

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· @berniesanders ·
$12.78
Selectors
The selectors of this class of coin must be made up of five members. Each member of the selectors, on the assumption that no particular person will wish to be selected, has a specific designation, such as K, L, R, or 1, and is thus designated by the term of office held by the members as the "selector", thereby giving them exclusive control over the coin. This is a highly selective process, one which is designed to select only those who have a genuine ability to produce and plan their operations and the members who possess an overall level of interest and capacity regarding the design of coins. Although there are certain individuals who have a clear passion about the subject of coins, it is usually the case that as the individuals have completed their education and experience with designing coins they are of a more general capacity, having also had the opportunity to meet some of the various selectors in person, and have had other qualifications. In this regard, members of the selectors generally make up one team of selectors. They are usually selected by a committee consisting of an appropriate authority named from among the members who have been admitted as members.
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vote details (242)
@acolucky ·
Notes from the last Steem Inc. board meeting?
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@lordless.exile · (edited)
> They are usually selected by a committee consisting of an appropriate authority named from among the members who have been admitted as members.

I don't know what this is about but am I the only one that thinks this sounds like a rather shady governance model? The authority is selected by the people the authority previously accepted? I am not doing too great now and my brain is a bit slow, but am I missing something or is this a nepotistic manner of exchanging favours towards the acquisition of total power?
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