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20 sats \ 3 replies \ @Undisciplined 21h \ on: MONEY CLASS OF THE DAY: The Tulips, Bubbles, Financial Manias and Bitcoin econ
“Typically, the buyer did not currently possess the cash to be delivered on the settlement date, and the seller did not currently possess the bulb.”
So many of the most fantastical events from history turn out to have been fantasies. There's probably a lesson in there somewhere.
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39 sats \ 1 reply \ @SimpleStacker 20h
I find your unwillingness to believe the official version of events disturbing
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31 sats \ 0 replies \ @Undisciplined 20h
It sounds like this is the official version of events and the rubes are just too dumb to give up their dumb make believe version.
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10 sats \ 0 replies \ @Rothbardian_fanatic 20h
How do you think the COMEX, NYMEX and LME work? People put up some margin for imaginary bullion in the "stock". They settle with fiat in almost all cases. It is all a scam.
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