Why Governments Make Poor Speculators ...Middle East

OILPRICE - Economy
Why Governments Make Poor Speculators
source : OILPRICE ( Middle East ) () 59
There can be few fields of human endeavor in which history counts for so little as in the world of finance. Past experience, to the extent that it is part of memory at all, is dismissed as the primitive refuge of those who do not have the insight to appreciate the incredible wonders of the present. Only after the speculative collapse does the truth emerge.               —John Kenneth Galbraith, A Short History of Financial Euphoria, 1990 All the recent talk about government Bitcoin reserves has gotten me…

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