31 May - Written by Ettore Bellucci

February 1637, the Netherlands. Tulip bulbs‘ value was growing up more and more. A non
stop, steep, climbing up. Eventually, it collapsed. Interested readers can easily find many
references and quotes surfing around the net. Nothing to say, nothing to complain. That market
was not ‚perfect‘ and ‚futures‘ only after the devastating bubble became ‚options‘. In a few words,
this means that an ulimited lost turned into a pre-determined one. Winners equal loosers. Sad
truth maybe, but only the truth.
Diamonds are well known valuables for everybody almost. Not all non-Italian readers though,
might remember that just a few years ago many among the largest Italian banks started to offer
diamonds to their Clients. ‚Diamonds are forever‘ as the motto says. Pity those banks were the
only winner, that time. Their fees were extremaly high and the market not as liquid as it was
said. Many Clients were fascinated by the brightness of the little stones. ‚Why should I miss
that? My bank officer is offering me something and he is a reliable person‘...Clients were
confident, more than enough. Pity they were misleaded. Much more than enough.
All crypto (I am here referring to the good ones, at least the ones that proved to be created by
honest people) ...starting from bitcoin on, were simply considered to be an illusion. Now, not only
mafia guys and money laundering financiers believe and invest there, but also young people and
mid class investors. Not to mention Salvador, the first worldwide country that officially stated all
payments can be made in crypto (that crypto!) as well as in their national own currency.
Somebody bought a Lamborghini with a little bunch of US Dollars, converted in bitcoins, many
others lost more than relevant big sack of notes...banknotes.
What am I trying to say? For sure I can’t bet on commodities less or more than in valuables or in
crypto. But I am a freedom-fan-guy. I prefer to loose making mistakes by my own will than
keeping my money where somebody else wants me to store it. Funny to say, for the benefits of
a very tiny group of lobbyist, the most of the time.
Thumb up for freedom. Thumb down for binding the Free Market. Especially when this so called
‚moral suasion‘ comes from many financial institutions. Maybe from those ones that pushed up
the derivatives, the sub-prime bonds, the tango-bonds. Just to mention the first three that came
to my mind.
My old wise mentor use to say ‚buy what you can loose, sell when others buy and buy when
others sell‘. He did not pass away that broke.

Ettore Bellucci