Will this make the exchange work when there is a surge or plunge in price, for a change?
You thought you could trust a man named Tommy Thompson? Thompson has been in jail for 5 years for contempt of court, he will not reveal where the gold he excavated is. Thompson took on a case for 161 investors who paid him $12.7 million to excavate a sunken ship, the S.S. America. Thompson took the money but never returned the gold, leading the investors to sue him.
Wolf Richter of Wolf Street: “Instead of allowing corporate debt to be shed via bankruptcies and debt restructurings, at the expense of those investors, traders, and speculators, the Fed is creating an environment of free money that exhorts companies to borrow even more. And then the even greater debt hangover bogs down the economy during the Good Time while everyone is waiting for the next blowup so that the Fed would rescue them again, turning the whole thing into a Fed-managed paper exchange.”
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