Joe Weisenthal drinks the Kool-Aide
http://www.businessinsider.com/how-the-cantor-exchange-movie-trading-platform-works-2010-3
The CFTC really should be called to account for launching something like this – while the fire is still burning on the various CFTC approved products/contracts responsible for the last two years of economy collapse…
But here’s what I think. Since every media outlet in the world is going to cover this – and everybody who has every ‘dreamed of hollywood’ will be instantly addicted to all news coming out of this . . . the crisis of the last two years will be – like – forgotten (unless you happen to have become homeless or lost your job or house or something).
This is going to be a spectacular bubble and burst and I almost feel bad for having invented it.
Max has a strange journalistic modus operandi: apparently in every communique there is at least one statement that is technically just wrong. Although mortgage securitization occurred under the CFMA regime, the SEC was the relevant agency for “approving” the “responsible” products.
And although it is a world market and, at worst, a secondary cause of the crisis, if he is referring to commodity inflation, then by his own fiat money ponzi-scheme logic, what is the “right” price for commodities? Are we not talking to a gold mega-bull here?
(As I’ve noted before, the fact that there is little political pain in rising gold prices may be a source of outperformance there at some point.)
Yes, but Mas is more famous that you are.