The crypto bubble of the worst kind

Central banks are buying a lot of gold, something they know is a good long-term bet. What they aren’t buying is bitcoin – something they know probably isn’t. – Reuters

INVESTMENT bubbles get a bad rap.

Perhaps we should mock them a little less and express our gratitude to them a little more. Why? Because while they leave huge misery in their wake, they also eventually leave us with good things paid for by other people’s capital.