behind nebulous contracts or ridiculously overvaluating companies Just as a thought experiment, try to restate that with the poker analogy. 1. behind nebulous

behind nebulous contracts or ridiculously overvaluating companies Just as a thought experiment, try to restate that with the poker analogy. 1. behind nebulous contracts A bluff. You are bidding up a hand so people believe it’s a good hand. 2. ridiculously overvaluating companies Bidding up a hand because you know the other side can’t afford the risk (they can’t match you when you up the ante, doesn’t matter how good their hand, modest institutions won’t take the risk), so you can take the pot just economically. Overvaluing a company is to make the sale look attractive to investors (it’s 50bn, must be worth a shit right). Once you have them, your job is done, take the pot, drop the value. A retirement fund can’t stand up to “we need crypto exposure in our portfolio”, they’ll fold and take it. ——— The point is, the economy has this psychological element. What most people are not ready to hear is that in this game, the psychological games leaves any side either fleeced, caught, exposed, or downright unlucky. That’s why it’s unnerving, because our economy is supposed to be numbers in, numbers out. But it’s not. It’s not the money that’s the problem, it’s the psychological game. ———- Government debt printing is the most optimistic psychological game we have in the economy. It’s a bet on the future potential of the country. It’s a risk, the country may not be what we think it’s capable of in the future. But it’s far less insidious than the other psycho tricks.