It is reliably reported that during the peak of Tulip Mania,
offers were made to buy as much as 12-acres of land with a single tulip bulb. Surely, something was amiss, a reasonable person might have argued at the time, but the market price was what it was….and until the mania broke (and fortunes were spilt right and left) it seems for a while like tulips had become a kind of
money. In a previous report, I pointed out some of the fallacy of
Bitcoins, not the least of which is their total reliance on electricity (which
makes them useless in a post-collapse economy) but I also projected a major
decline from then peaks. This morning, we shall update our thinking and
look ahead. After, that is, a nibble of this and a sup of that…this
being breakfast and the sups of Mrs. Olson’s half-caf to brace us for the
descent into digital madness.
