This speculation is a perfect fit for a late stage financial mania. People are bidding up the price of worthless tokens for the thrill of speculation in itself.

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Four Years of Cryptocurrency ICO Sales, Visualized in One Graphic

This graphic shows the full history of token sales (aka initial coin offerings), from the early days of 2014 to their meteoric rise in 2017.
We’re headed towards another depression, this time it will be twice as brutal.
The Great Depression 1929-1940 Economic Growth 1% GDP
2006-2017 Economic Growth 1.5% GDP

The world is drowning in debt, warns Goldman Sachs
‘WORSE THAN 2007’: Top Central Banker warns of looming wave of worldwide bankruptcies
Central bankers warn of worrying echoes of 2008’s global financial crash

The global financial system is showing worrying echoes of the years leading up to 2008’s global financial crisis, and central banks must act to prevent major damage, according to the Bank for International Settlements has said.
The BIS – often known as the “central bankers’ central bank” – warned in its quarterly report of potential “long-run turbulence” and said it has concerns about the potential for overheating global financial markets.
It also warned that consumer debts are starting to reach unhealthy levels in many countries around the world.
“The vulnerabilities that have built around the globe during the unusually long period of unusually low interest rates have not gone away,” said BIS chief Claudio Borio.
No Capital Shortage—Domestic Corps Spent 125% Of Net Income On Dividends And Stock Buybacks
nonfin corp dividends paid
Calling The Sheep To The ETF Slaughterhouse

The Fed’s Perfect Record……Of Forecast Error!

@David Stockman
Bank of England Warns of “Economic Collapse”
The Bank of England is putting the United Kingdom on alert. Should the UK keep borrowing money, as Corbyn’s Labor Party has advocated, there will be a “Venezuela-style” economic collapse that will devastate normal citizens.
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h/t SpontaneousDisorder

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