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A long
time ago a charming and respectable man appeared in a small village
and announced he would buy buffalo or cow pies for $1 each.
The
inhabitants, seeing that there were many buffalo and cow pies lying around,
went about gathering them up. The man bought thousands at $1. As the
immediate supply began to diminish the villagers stopped their effort.
The
man then announced he would pay $5 each. This increased price drew out
more supply as the villagers ventured further away from the village to
collect buffalo and cow pies. Predictably the supply diminished even
further and buffalo and cow pies became even rarer.
The
man then increased his offer to $10 per buffalo or cow pie. The
inhabitants started searching everywhere but could rarely find any buffalo or
cow pies. They had become extremely scarce!
The
man had to go to a neighboring town to complete some business.
Nevertheless, he left an assistant in charge of acquiring more buffalo
and cow pies along with an astounding offer of $40 each. After the man
left the assistant told the villagers, “Can you believe all the buffalo
and cow pies in this man’s giant collector bin? I will sell you
all the buffalo and cow pies at a mere $25 each and then you can sell them to
the man for $40 each when he returns.” The inhabitants rounded up
all $700B of their savings in the CRAPs fund and purchased all the buffalo
and cow pies. Then the assistant skipped town and
neither he nor the man have been seen since. No one sincerely wants to
know how many buffalo and cow pies
everyone else owns. Ignorance is bliss and denial is fun.
Trace Mayer
RuntoGold.com
Trace Mayer,
J.D., holds a degree in Accounting from Brigham Young University, a law
degree from California Western School of Law and studies the Austrian school
of economics. He works as an entrepreneur, investor, journalist and monetary
scientist. He is a strong advocate of the freedom of speech, a member of the
Society of Professional Journalists and the San Diego County Bar Association.
He has appeared on ABC, NBC, BNN, many radio shows and presented at many
investment conferences throughout the world.
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