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In reply to the discussion: I'm Not Sure How To Ask This... But... Is Anybody Else Feeling A Great Nauseous Forboding About... [View all]truedelphi
(32,324 posts)The rich see everything as mere commodities to trade and gamble on.
But if everything becomes a mere means to the insider trader glut, than how are vitally important commodities protected?
I was around a close friend when his Silicon Valley-based company was poised to go public and its stock was to be worth
$ 1,600 a share. And he wouldn't lend me five dollars that I needed to drive home, because, as he explained to me, "Five dollars in my pocket is one more stock share, and it really is $ 1,600 bucks."
Luckily for me, I finally found a way to get my magnetized credit card to work, otherwise I would have had to stay in Silicon Valley!
PS - The purported uptick in the stock never materialized. The most the stock became worth was $ 48. And everyone, except the company receptionist, held on to the stock until it crashed along with all the other dot com stuff that crashed.
The receptionist cashed the stock in at the all time high of $ 48. And bought herself a great little condo. WHile the rest of the company ridiculed her for cashing in "prematurely."