Debt Rattle October 7 2017
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[See the full post at: Debt Rattle October 7 2017]These crypto currencies: I just can’t get beyond the fact that you have to pay cold hard cash for them. It is not like the stock market because there are no annual reports on which to base a decision to purchase. To me it just sounds like the tulip mania of the 1600s all over again.
Patricia
I think Graeber would agree with you.
I’m still paying attention to crypto-“currencies”, however; my assessment so far is, they are a possible Ponzi scheme.
They offer no true (IMO) store of value. A true store of value being gold and silver, and they have 5,000+ of history behind them as just that; a store of value.
A simple thought experiment would picture a global catastrophe where all electronic communication is not possible; where for art thou crypto?
But, in my hand I hold gold and silver…
In the end, I tend to shy away from any mass following of any kind, in any way; the road less traveled as it were…Kunstler: “The whole spectacle is starting to look like a Coen Brothers movie.”
That’s because, in a literal sense, it IS a Coen Brothers movie.
The mystery was so profound that The New York Times also explored it days later: “German Election Mystery: Why No Russian Meddling?”
Since we all know that The New York Times is fake news, and since the Times reported no Russian meddling in the German election, it therefore follows that the Russians did a lot of meddling in the election. Either that, or the Times is trustworthy only when it publishes stories that The Nation agrees with.
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