by Tim Price, Sovereign Man:
Lord Overstone said it best. “No warning can save people determined to grow suddenly rich.”
Case in point– CYNK Technology Corp, a listed company that as of this morning has a market capitalization in excess of $1 BILLION.
According to official filings, the social media development company had one employee, no website, no revenue, no product, and no assets. What has effectively united this company with prudent investors is today’s central banker.
Andy Haldane, the chief economist for the Bank of England, conceded last week that ultra-accommodative monetary policy had “aided and abetted risk-taking” by investors.
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