An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
The unsophisticated and their money are soon parted.
Canadians all excited about marijuana being legal. Do you know what marijuana is when it becomes legal? It's lettuce and has the same economics as lettuce.
To the naked eye, this collapse may not seem all that unusual. Canada’s entire cannabis sector is reeling. The market peak was in September, 2018, a month before recreational cannabis was legalized. Four years later, many mid-tier producers have merged with rivals simply to stay alive. Canopy’s share price has collapsed from $67.74 on Sept. 7, 2018 to $3.39 as of Friday’s market close.
Warren Buffett said that the market is a wealth transfer mechanism that transfers wealth from the less-informed to the more-informed. It would have been useful if this money had been taken away from these so-called "investors" and invested in something useful for Canada's future instead of being invested in "lettuce".
It seems like all vague handwavy stuff. What does convertibility to gold mean? Does it mean china plans on pegging the yuan to gold? If not then it's pretty meaningless. Every currency is convertible to gold. You just go to the mint and you can "convert" your currency to gold.
7 comments:
"G7 investors"... sounds like a savvy, sophisticated bunch.
The unsophisticated and their money are soon parted.
The unsophisticated and their money are soon parted.
Canadians all excited about marijuana being legal. Do you know what marijuana is when it becomes legal? It's lettuce and has the same economics as lettuce.
Canadians have lost more than $131 billion investing in cannabis companies: firm
This from a different article (bold mine):
To the naked eye, this collapse may not seem all that unusual. Canada’s entire cannabis sector is reeling. The market peak was in September, 2018, a month before recreational cannabis was legalized. Four years later, many mid-tier producers have merged with rivals simply to stay alive. Canopy’s share price has collapsed from $67.74 on Sept. 7, 2018 to $3.39 as of Friday’s market close.
Warren Buffett said that the market is a wealth transfer mechanism that transfers wealth from the less-informed to the more-informed. It would have been useful if this money had been taken away from these so-called "investors" and invested in something useful for Canada's future instead of being invested in "lettuce".
And I thought the excitement was about the opportunity to legally smoke weed.
You have to fade all this..,,
It seems like all vague handwavy stuff. What does convertibility to gold mean? Does it mean china plans on pegging the yuan to gold? If not then it's pretty meaningless. Every currency is convertible to gold. You just go to the mint and you can "convert" your currency to gold.
It won't be gold. It will be alleged claims over gold, ie gold derivatives. Much like the US dollar was before decoupling.
You don't have gold unless it is in a vault you control.
It’s a commodity backed munnie scheme… it doesn’t work…
Post a Comment