This is a long, but cool read. "There are instances of generic...

This is a long, but cool read.
"There are instances of generic idiocy emblematic of deep problems. Eighty-five percent of traders on Wall Street have less than 15 years of experience. Synthetic securitizations are returning.⁵⁶ Are buyers being paid for the risk? Some have suggested that retail investors should stay away from these (and Fukushima). A managed futures fund was launched by a 17-year-old kid who may not have made it to third base yet.⁵⁷ A 28-year-old Ukrainian hacker got caught making over $30 million on insider information.⁵⁸ If he were a bank, he’d have been fined $100K. The “head” of the collapsed Visium Asset Management hedge fund killed himself by slicing his own neck.⁵⁹ Right. Platinum Partners appears to have been running a Ponzi scheme.⁶⁰ Vegan food start-up Hampton Creek used $90 million in “seed” money to buy its own products (probably seeds) to generate fake “organic growth.”⁶¹ Nintendo spiked on the release of Pokémon, which caused hoards of idiots to chase digital critters to stupid places.⁶² Even though Nintendo fessed up that their bottom line would not be improved by the craze, some of the gains have stuck as investors keep chasing those digital share prices to stupid places."
https://www.peakprosperity.com/blog/104753/2016-year-review

“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.”
― Alan Greenspan
Merry Xmas & a Prosperous NY  
@Gonzificus that was a COOL movie!