You can make money both ways. And should. So many commodities in backwardation. As I said, there is nothing subtle about what is occurring. We're not here to complain about it.
We won't have inflation as long as the productivity to keep up. If the Feds really want to control inflation, they shouldn't have an inflation target, they should have a productivity target. As long as that's above certain % to keep up with the money supply multiplier, you won't have inflation.
The amount of stories I have read from the amounts of money people are spending on NFTs is just absolutely insane. It just seems to have blossomed overnight. And I can absolutely say these buyers are hoping to flip these NFTs. This is what you get when the fed hands out free money to the world. Like you said the banana art at 120,000 looks miniscule compared to what is now taking place. It is a world gone mad....
As long as nobody buys them when they are trying to flip, there wouldn't be any bubble. Dunno about you guys but personally I wouldn't spend s*** on some angular-line drawing of somebody's baby. Whatever happens, we make $$ either way. When there is a bubble, we ride the bubble. When the bubble burst, we ride the crash.
Would never happen. If that's what they think they are thinking absolutely wrong about that possibility.
Here is the buyer The buyer of a $69 million art NFT is the same crypto whiz kid who once paid $4.6 million to have lunch with Warren Buffett Crypto whiz Justin Sun bought a piece of digital art from artist Beeple for a record $69.3 million at a Christie's auction on Thursday. https://markets.businessinsider.com...ft-warren-buffett-christies-2021-3-1030175330
It's just proof that beyond a pretty basic level of subsistence, all economic value is socially constructed. One could say that our society values some pretty f'ed-up stuff: suburban sprawl and strip malls, fringe sexual predilections, Bitcoin, modern architecture, the taped-up banana. And that person would be right.
Traders like FED for it provides trading opportunities. Thank you Fed. Please provide even more trading opportunities with bubble or whatever.
You guys just don't understand NFT. Here is how it works: Step 1) You buy the NFT. Step 2) Then you sell it to a greater fool. Step 3) That greater fool is buying it because they have an expectation to sell it to an even greater fool. Step 4) The cycle repeats over and over until the greatest fool of all time buys. Then you have a problem. Understand?