Dear Slope people, this is a different post than my usual. If Tim decides it is worth posting please take it in the spirit intended, which is the spirit of despising bubbles and especially bubbles that are so transparent and promoted at the hands of the media/celebrity complex. –Gary
Response from Tim: Nah, Gary, I’m delighted you did this post. I think the NFT thing is insane too, with one obvious exception.
NOTES FROM THE rabbit hole…NFTrh
The NFT part is all that matters. Not the words “notes from the”, implying information delivered from somewhere. Not “rabbit hole”, implying that somewhere is a pretty different, even weird place.
You see, with my antiquated notions of sound market management, which includes investment and/or speculation in real assets, including real monetary value (gold), equities of real companies doing real things and the commodities consumed during real… okay, manufactured economic growth, it is really pretty odd that I am now seen, because of 3 stupid letters, by some as part of the newest craze in the financial markets, the Non Fungible Tokens craze.
I can guarantee you I am literally the last person on earth who knew what an NFT was, and I now wish I did not because I stand as far aside from idiotic, media and celebrity-stoked bubbles as I can.
Here is an accused insider trader, convicted on 4 counts of obstruction of justice and lying to investigators, pumping a goofy idea to the masses. Seductive? Soulless, maybe. But seductive? The MSfM just gets funnier and funnier.
So now I’ve apparently had enough.
This is the kind of crap that has been showing up in my Twitter notifications (these just moments ago) for a few months now. I’ve muted, muted and muted some more but new bots just keep coming. Someone tagged me for my NFT designation and now I have an ongoing confederacy of the stoopid, an army of robots tagging me day after day. There I am, an old fashioned Alice In Wonderland among the cool kids like the NFTQueen and her friends.
Over at ESPN (click graphic to hear the scintillating discussion):
Peyton (setting up the pre-planned promo): “Is the ball in Canton or made into an NFT?”
Tommy (awkwardly delivering the promo): “It’s sort… shortly an NFT. You can autograph dot… autograph.io. You can go there to bid on it, ah…”
Creepy, creepy and so obviously pre-programmed salesmanship for the dopey masses to consume along with their burgers, dogs and sausages before the big game on Sunday.
But it doesn’t stop there. The media have NFT’d us with a famous stock market cheater who makes a nice home and some good food, 2.5 legendary quarterbacks clumsily playing their naive fans, and so too… drum roll please… a child (who will probably need lots of therapy by the time she’s 15) dubbed “Side-eyeing Chloe” by the media, who is selling the non-fungible token of her perfectly incredulous expression. From BBC:
What are NFTs and why are some worth millions?
You know a bubble when the media inflict it upon you, right?