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On This Day In The History Of Ponzi Schemes
As America embarks on its latest pre-IPO tech bubble, driven by a fundamentally broken Ponzi system which relies on the marginally disappearing greater fool, it is time to look back in time to this day in 1637, when the granddaddy of all irrationally exuberant bubbles died: the Dutch Tulip Mania.
Source: Wikipedia
What was tulip mania, you ask?
Tulip mania was a period in the Dutch Golden Age during which contract prices for bulbs of the recently introduced tulip reached extraordinarily high levels and then suddenly collapsed. At the peak of tulip mania, in February 1637, some single tulip bulbs sold for more than 10 times the annual income of a skilled craftsman. It is generally considered the first recorded speculative bubble.
And for fun here are a few recent 'exciting' opportunities...
UniCredit +89% in the last 3 weeks
FriendFinder +120% in the last week
And everyone's favorite Zynga +81% in 3 weeks.
Charts: Bloomberg
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Might be time to watch orchid prices.
Orchids, bitchez!
I knew the market numbers were flowery.
iTulip
O/T: just received a text saying:
I did not hear it personally, but, I am, uh, a little bit surprised by that.
kinda looks like the price chart of silver when shameless pumpers were calling for "$60 by next week" and "hyperinflation IMMINENT"...back up the truck and "buy with both fists"
Go ahead and put your IRA into T-bills if you feel that way, man...
http://journey-to-alpha.blogspot.com/
hmm...since the top of the silver bubble last year, Tbills did like way better
I like how trav is so stupid and close minded he can't tell the difference between a bubble and a short squeeze.
It makes him so simple to play with.
Is one of them where you won't shamelessly pump and cause everyone who listens to you to lose most of their life's savings?
Yes, because EVERYONE bought exactly at the high. Nevermind that my position on silver being a "buy" hasn't fucking changed since October 2008, and that only those who bought over the month of April have a significant loss. Also nevermind that I have always told people to cost average each month, meaning that by definition, everyone following my advice, even though who started that APRIL are even at worst.
Give it up. Your stupid shit is really tired, and everyone sees through it.
your position of "buy" changed to "buy with both fists" and then to "back up the truck" the higher the price went.
You actually had people convinced that silver was going up another TEN dollars from the ABSOLUTE HIGH that you were telling them was a GOOD PLACE to buy at!
The reality is that you are incompetent. You say things that are absurd and do so for the adulation you receive from idiots, which you feed on. You are cliff mosely-claven.
Silver grows, but not like tulips.
Silver only grows on viens of other metals; you will never find a vien of only silver. It will be on copper and other ores.
Platinum only grows on silver!
And gold, gold does not grow. Gold only comes from super novas.
The same as bubbles grow on the back of unsuspecting sheeple.
wtf r u talkin about man? what you said is complete horseshit except for the part about gold.
Rosebud....
my lateral thinking is pretty good, but I'm not seeing the Kane link
I was reminded of Kane by the "tragic" tone of LH's metaphysical rhetoric.... nothing to do with you...
Must have been all the cough syrup I had this morning...
The part about gold is horseshit. Silver DID exist in huge deposits. Everyone knows about the Potosi mountain in Bolivia. A mountain made almost entirely of silver. Spaniards mined the mountain dry, but most of it (like most of the treasure they looted from the new world) went to the Vatican and to the german bankers who "financed" Spain's (and europe's) endless wars.
http://en.wikipedia.org/wiki/Potos%C3%AD
But today, silver is more scarce than gold. And gold has finally been achieved in laboratory thanks to multi TeV CM energy.
Anyone who thought the goal of the LHC was to find the Higgs just for "science's sake" is either an idiot... or worse (an idiot with a Ph.D.!).
Stick to quoting Wiki on the Potosi... as far as the LHC and the nucleosynthesis of Au, you don't have a fucking clue what you are talking about....
There is 9 times as much Ag mined as Au.... the relative price is 1 to ~53...
Dieter, you're the one without a clue.
So, if there's a 9-1 AgAu mining ratio, and there's more silver demand (both industrial as well as financial), how do you explain the 53-1 price ratio?
Your little sand castle is about to washout when the wave hits.
My little sand castle??
My, are we not presumptuous... you clearly have no fucking idea what you are talking about...
So why *did* they build the LHC???
Based on the dribble that you have posted, you clearly did not pen the above... so you are plagarist as well as a part-time moron?
he's pretty much a full-time moron...overtime in fact
There is a reason it was posted as a quote.
Anyway, I knew you would not understand.
And sideshow Bob, the idiot racist trapped in the past.
Still reading Thomas Carlyle? You poor fool. To the power elite, your color does not matter. You are also a serf.
This thread has become:
"Margin"alized
He's quoting Kurt Godel
Great, some one suffering from the DK effect quoting Godel...
As if Godel's work gives creedence to his misconceptions....
The irony is almost unbearable....
Elements up to iron create energy during the fusion process. Elements after iron absorb energy during fusion. See nucleosynthesis over at wiki and pay particular attention to the log chart of elements.
Thus, one could conclude things don't "grow" on other things in terms of raw elements, however similar elements may be found together.
Along this same line, it has been possible to make gold in a lab for quite a while. The problem is the energy inputs required. While I am not a physicist or specialist in this area, this might be one way to calculate a "top" for gold ... the price of energy to make it.
Good thing we have a future full of abundant, cheap energy ...
Regards,
Cooter
Fusion does not create energy, the binding energy of nucleon is larger in heavier elements (up to Fe), you gain the difference when you fuse 2 lighter elements (typically in the KE of the byproducts)....
The energy inputs per gram are enormous.... Unless you can find isotopes that are amenable to nuclear reactions induced by natural radioactivity that lead to Au.... I am not aware of any that are easy (I can assure you that most Nuclear Physics gold bug types have looked at every possible isotope of Tl, Hg, Pt, Ir along with natural alpha or neutron emitters to see what is possible...To give you and idea, check the price per gram of Americium.....)
I mispoke. When I said "elements up to iron create energy during the fusion process" I mean output elements. I wasn't clear in how I said it. So, you are correct, two lighter elements that produce an element up to iron release energy.
This is why stars turn to iron and die.
Now, when they super nova, the massive renergy is what creates the bulk of the heavy elements past iron are created.
Regards,
Cooter
actually it's neutron capture but whatever. Just tighten up the verbiage a bit.
Yes....
My understanding is that in an SN resulting in a neutron star that the collapse of the outer shells bounces off the core where the nucleon degeneracy pressure is adequate to stave off utter collapse. There is an enormous neutron flux that results in processes like
n + AZ -> A+1Z -> A+1(Z+1) + e nu
The produced Ni and Co (A+1, A+2 wrt Fe) produce gamma rays which allow us to estimate the total energy released....
Yep. That look's right to me.
Thanks... you don't how much that means to me coming from you.....
especially with the apostrophe in looks
You're kidding?
But today, silver is more scarce than gold. And gold has finally been achieved in laboratory thanks to multi TeV CM energy.
That must be a joke?
Who the hell is going to use 180 MEGAWATTS to synthesise a few atoms of Gold?
You'll find more gold atoms and use less energy by sieving through a few kilos of mud from your back yard.
You'd have to burn tens of millions of tons of fuel just to make an ounce of gold using the LHC.
there's mo gold in spent fuel rods from fission reactors
Who the hell is going to use 180 MEGAWATTS to synthesise a few atoms of Gold?
A Type II Kardashev civilization would do that in a second if gold was what was needed for a project.
Chemistry of Metals in our Earth.\
It's the way it is beneath our feet.
Once you understand all that, then you will have mountains to harvest a little gold.
Anything with an atomic number over Iron only comes from supernovas.
Yep...You guys rock...Iron is the end of stellar fuel...Was it Boltzmann, I forget
No, it was not Boltzmann...
Higher mass elements are produced by neutron capture and subsequent beta decay....
Awesome...I love ZeroHedge...
Riiiiiiiiiiiight....and oil only comes from dead dinosaurs.
Let me guess, you found the Philosopher's Stone?
How is that Abiotic oil startup going??
He and Bernanke must hang out a lot.
So if you say "Beetlejuice" three times, you can have all the gold you want...
http://blogs.discovermagazine.com/badastronomy/2010/06/01/is-betelgeuse-about-to-blow/
Yes.... I can only hope that it will occur in my lifetime...
It will be the greatest fucking show ever....
only superseded by an on axis gamma ray burst. Oh wait, that would cook the planet...be like that old apple commercial
Well that is a risk... but Alpha Orionis is long ways off...
I did compute once that based SN 1987A which "rattled" the proton decay experiments with neutrinos, that one would see about 3 million or so neutrinos interacting in the Super-K detector in the space of a second or 2....
To put that number in perspective, there have been maybe 20,000 cosmic HE neutrino interactions observed in the past 30 years....
I'm not worried about these things...
We can always send Bruce Willis up in a spaceship (that is, as soon as he finishes apprehending all the bandits that are making off with the Fed's gold in dump trucks)...
~~~~~
Footnote: As you can see... I'm MUCH more worried about the stupidity of humans destroying themselves than about axis ray gamma bursts from Beetle Juice...
As right you are, re: self-immolation....
Thank fuck someone knows what they are talking about. The rest of you would benefit from 5 min of research.
When this is all over...Some of the juniors... literally at pennies will be dollars...
Well lets see. The average annual salery of a skilled craftsman is what? about 40k. So, 10x 40k is 400k. which will buy about 10,000 oz. of silver, so yeah 1 tulip bulb = 10,000 oz. of silver .
Right, so in the mind of idiot Trav, a short squeeze==bubble.
What a fucking dumbass.
ROTFL..you call that mania you encouraged people to "buy with both fists" a SHORT SQUEEZE?
BWAHAHAHAHAHAHAHAHA...gfd you are pathetic
Show me where I "told" people to do that. I told people to buy on a regular basis, ie dollar cost average. Further, for there to be a "mania" there must be an increasing number of longs. That is not what we saw. We saw a decreasing number of shorts. But don't let the facts stop your insane ranting.
You are a fucking liar, and always have been. Yet you still can't understand why your family left you.
Yes, you are pathetic.
"$60 by next week" BWAHAHAHAHAHA
no price was too high to BUYBUYBUY
Repeat that lie enough, and it might become true, lying shitstain.
Hyperinflation "IMMINENT" bwahahahahahahahahaha
My Jan '13 $50 calls SLV I bought in December are killing it..
Today is not the first time Rush has referred to ZH. Probably the death of ZH as Rush is very complimentary of ZH.
The problem is Rush doesn't read ZH, somebody on his staff does.
Do straight ppl use "OMG"? Rush has been mentioning ZH at least a year.
Santilli, too (via Drudge)
http://video.cnbc.com/gallery/?video=3000071275
Sure enough...starts about 6 or 7 paragraphs in
http://www.rushlimbaugh.com/daily/2012/02/03/happy_days_are_here_again_in_obamaville_raw_jobs_numbers_tell_very_different_story
Tyler, you may need to tell Rush that he is a statist puppet and you'd prefer to not be associated with him
While you are at it, you can add that Rush is a bloviating fascist shill...
My Great, Great,Great, Great, etc., Grandfather went all in for the black tulip right I the top. Wound up eating his tulip bulbs. Still buying high today-FaceBook will break the curse.
i tulip it is ...
Did they buy physical, or the tulip 3x ETF, UTUL?
and if not physical, did they risk rehypothecation of their paper tulips?
Extraordinary Popular Delusions and the Madness of Crowds
1841 book by Charles Mackay was a favorite of Livermore and Baruch...great read with history of tulip bubble, mississippi company, crusades...etc.
"Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."
- Charles Mackay
1637, bitchez!
And the collapse only took two months....
....hmmm.....
As cool as this site is they cannot submit a post without a fucking typo. Its always been thus.
Hey, here's an idea....
If you want to see Zero Hedge perform at its best, you can help!
Donate to Zero Hedge:
http://www.zerohedge.com/donate
"It's"
ftmfw
actually....it's "its"
no, the other guy was right, you are wrong. Probably mistook the indent level versus the post he immediately followed
No, he abbreviated "It has".
"It's"
Fucking dumbass
Not meant for Trav, meant for dude above Trav
"As cool as this site is they cannot submit a post without a fucking typo. Its always been thus."
This was the OP. The use of "its" is wrong.
Oh wait, I see you are not talking to me...lol...you just added that prior to my reply. Was about to go tha fuk off
Yeah I figured which is why I added the disclosure.
heh
True....I was referring to a post from higher up
http://garyes.stormloader.com/its.html
I enjoy Bob's version (he's the angry tulip, er.. flower):
http://www.angryflower.com/aposter.html
Smuck, you just got grammer nazi ass-raped. "its" is the correct form of the word. You use "it's" for the contraction of "it is", not for the possesive. However, you are correct about lots typo-s on the site. I just enjoy them for what they are.
The contraction to which he replied was the shortened form of IT HAS, YSMF
The correct spelling for the insult you just failed on is as follows:
SCHMUCK
I think just just reiterates how poorly the action is in the stock market, when we find ourselves ALL focused on gramatical errors. All I wish for is a market that reflects the economy and main street.
And now that we've covered English grammar for today, why don't we move on to Contemporary American History with professor Turgeson?...
http://www.youtube.com/watch?v=8bfgrj_62-Y
Dude, it's "grammar", not "grammer"!
There may actually be a correct usage of "grammer"... (such as)
GRAMMER NEEDS TO EAT HER CATFOOD...
Snutup you smuck.
How can you tell Bernanke is lying? His tulips are moving!
I'll be here all week, folks.
Tip your waitresses!
I begonia pardon, he never promised a tulip garden.
Funny REDPILL. What better than roses on a piano??? Tulips on an organ.
All of Bernanke's printing is making me a MariGold buyer...
..."this day in 1937, when the granddaddy of all irrationally exuberant bubbles died: the Dutch Tulip Mania."
Errr, 1637 perhaps?
ZH should work for BLS.
Bah... 6... 9... we like both... especially together!
Didn't Jimi H. pen "If 6 was 9"???
Ooops, it's been revised.
We seem to have forgotten finance and bubbles have always been around. It wasn't 1937 but 1637.
Yes yes yes, Facebook is different. I know.
Opium poppies bitchez.
The Houses of Astor, Forbes, Delano, and many others made their fortunes from the First and Second Opium Wars.
Now these same Houses are padding their fortunes with the Afghani Opium War.
History repeats, if you let it.
Investing Under the Influence (IUI)
erm...Astor was pretty big long prior to opium
So was Delano. But when you go from running the fur trade to running the fur trade and the drug trade, you put yourself a head above the rest.
It's the difference between being the richest family in America to the top 10 in the world.
what in the fuck are you talking about?
Astor moved from a fur fortune to Manhattan REAL ESTATE. His venture into the opium trade was limited and mostly as a result of british seizure of his fur company assets during the War of 1812. He was never a significant opium trader and did not make his fortune from this trade.
Even if he did, so what? Nobody made the chinks smoke it. Opium should be totally legal. Right now the USMC is guarding poppy crops.
fertilizing them with piss I hear...
Wizard of Oz all over again.
If it was legal those fuckers wouldn't be making any money. And yes he got rich off of NYC real estate, furs, and drugs. The drugs were all under the table. Best money to make.
sheesh the tulip bubble i have always heard about was only 2 full months long....what a punch of pikers !
most amazing fact is
THERE WERE FUCKING FUTURES CONTRACTS IN THE MIDDLE OF 17 CENTury back in Holland..
same time here indians were yet hunting w/ wooden sticks..
alx
Makes hunting with wooden sticks seem like the wiser lifestyle choice.
if you like dying at 30, sure. The injuns lived lives of savage brutality
so much better to live to 90, medicated beyond belief, & shit your pants every day while hooked up to an O2 tank...
I vote for CAROUSEL... & hanging out with 'Jessica 6' until that day arrives...
http://community.fearnet.com/_logans-run-Jessicajpg/photo/11926379/40602.html
yes and OF COURSE, there is NO medium between these two outcomes, Mr. False Dilemma?
30 is fine, hell I escaped or was allowed life several times already.
50 seperates the weak from the hearty. The rest is a matter of waiting until your shit years. If you are lucky, the IV will spare you the horror.
Yeah, my great-grampy lost his money before the big fail.
He bought an onion that was supposedly a new and rare tulip bulb from the Far East.
Family lore has it that it did spice up a good stir-fry.
So let me guess.....in an ironic twist of fate you are now a reporter for The Onion.
Great! Rush Limbaugh is talking about the discussion here. Hey Rush, when do you think we will start bombing people in Iran for your masters in Israel?
Open line Friday, Bitches!
Actually his masters are the Illuminati. Ever hear him criticize fiat money or the Federal Reserve?
I tried a few times. It gave me a headache.
I heard him lump himself in with wealth creators years ago.
He makes good money and some are employed because of him, but when I think wealth creator, I think of an enterprise that can survive beyond the founder's lifetime.
Elvis and Michael Jackson qualify. I kinda think Rush does not create wealth without Rush.
United Artists did it. Pixar did it. Oprah will probably do it. Dick Clark, maybe. Larry King, nope. Cramer, nope.
Was Bernie Madoff a wealth creator? Must be or have been, or else Bush never would have given him the tax cut.
http://www.youtube.com/watch?v=Pyly3JtXoy4
Ace of Base - All that she wants - High Quality
www.youtube.com/watch?v=WewhSwe3pnw (3:32)
Great tulip bulb graph Tyler...it amazingly looks very similar to many other charts you've shown us, pre-2008, and after 2008 :)
many powerful (jewish) merchants and "financers" in 17th century Holland...
Priced in gold, the dollar bubble is actually much larger than the tulip bubble. The tulip bubble was also priced in gold. Keep that in mind.
Yeesh.
It's best to hide the shine and flash down here while there is time.
Back to the future presided over by Chalky H. Soetero.
http://vegasxau.blogspot.com
...this one's for you, Tiny Turbo Tax Timmay. http://www.youtube.com/watch?v=zcSlcNfThUA&feature=related
We should create a new bubble. Trading Facebook comments! Surefire way to riches!
Very likely, comments put on FB, likefor so many sites, are IP of the site hosting them.
Do you want to rob from that powerful US citizen?
USually, US citizens prefer to target much weaker people when it comes to theft.
They call that optimization.
Reminds me of what you do in Tibet. How do you find the time to post with all the Monks you kill in Tibet and exterminating their culture?
Little known fact, but when ZH goes public, you will be able to trade in all of your down arrows for FRNs.
In a book written by a Spanish professor, I read what might have actually been the oldest bubble. Of course, one can only construct this thesis from old records:http://books.google.ca/books?id=pxNLAAAAIAAJ&pg=PA4#v=onepage&q&f=false
This is the link to Trapezitica, written by Isocrates around the year 393 B.C.5 It is a legal speech in which Isocrates defends the deposits of the son of a favorite of Satyrus, king of Bosphorus.
In the bankruptcy of a bank that belonged to Passio, an Athenian bankster. With the attack of Sparta and the victory of Thebes, there was the first documented run against banks (the banks of Timodemus, Sosynomus and Aristolochus failed), which of course back then also had leverage. This speech is the only one that remained from the wave of lawsuits against banks.
This crisis motivated authorities to grant the banking industry its first express, historically-documented privilege, which established a ten-year deferment on the return of deposits. Bitchez!!!
It makes me laugh how every time there is a banking crisis default response is to steal everyone's money.
People look at the great depression and can't figure out that when Roosevelt devalued the dollar by 50%, he destroyed 50% of people's wealth. How the Hell does that not lead to a depression? They took 50% of everyone's wealth. What did they expect?
Today is the same thing, and it won't stop. They have been doing it for thirty years now and can't figure out why the US economy stinks.
I agree with you but I would take it further and observe that he stole 100% of the sheopl-- oops, sorry, I mean "the greatest generations" wealth. He did this by stealing all their gold and replacing it with clever little paper portraits with the approx value of a tulip on Feb 3. He didn't "destroy" the wealth because it was not lost or destroyed. He personally stoled it for his bad self or the masters he served (over my pay grade to understand exactly who benefited) but the sheople lost = wealth transfer.
The looting is in full force today. Many pensions have been gutted in bankruptcy court. Many public pensions are on that path:
Providence RI, 32% funded and no deal in sight
http://globaleconomicanalysis.blogspot.com/2012/02/providence-rhode-isla...
So I'm guessing ROBOT TRADER's great, great, great, great, great, great, great, great grandfather was running around town annoying everyone with tulip price quotes between November 12th & feb 3rd...
no, he wouldnt have started UNTIL Novemeber 13.....robot is always AFTER the fact
true dat