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The Verdict is In 4/7/20


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"Grandpa, what were 'prices'?"

"Well, let me see here if I can answer your question, Joey. 'Prices' used to be the number we used to describe the value that things had. So, like those old-fashioned cars that used to roll on streets...? They would have a 'price' - say, $25,000.  And because it had that price, you could compare it to the prices for other things."

"But Grandpa, how were prices set?"

"Well, that's another good question, Joey.  You see... it involved everyone running around with money in their pockets - some of which they earned - looking to acquire things... and a bunch of other people offering things for sale. This was called 'price discovery,' and involved a mechanism called 'supply & demand'?"

"But Grandpa, what happened to that?"

"Well, Joey, it was early 2020, and supply & demand started working its price discovery magic on things called 'financial securities.' And, well, a lot of very rich people objected, and so their friends at the Treasury & Federal Reserve started printing money to try to impose prices on those financial securities. But then that just made the numbers we assigned all those things sort of "pretend prices," because the magical part involving discovery was broken. Then, everyone got confused about everything, because money is like a ruler, Joey: and if you don't know the length of the ruler itself, how do you know the length of anything? But that didn't stop them - no, no! The confusion only encouraged them.  And that's how the Three Kings - Mnuchin, Powell & Kudlow - came to run everything and own everything.  It was so they could control the price of it all."

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