For want of doubt, consider what has happened to one of the shiny objects in the crypto space in recent weeks. We are referring to a financial product aptly called “Fartcoin”, which is a newly minted cryptocurrency most assuredly worth $0.000. That is, it pays no interest or dividend, earns nothing, has a zero use case and exists solely to absorb some of the oceanic volume of speculative credit the Fed has unleashed upon the financial system.

Nevertheless, in a matter of weeks Fartcoin has skyrocketed from an initial market cap (ICO) of $3 million on October 18 to a recent peak of $1.5 billion on January 3rd. That’s a 510X gain in barely 70 days, including weekends and Christmas.……Fartcoin is now worth more than around 1,000 companies in the Russell 3000 Index, — companies with products and services, many of which are generating cash, others that are on a path to generating cash.