Further to my articles last week here and here, gambling with large sums of money is a well worn path to financial devastation. Addictions and denial with gambling run rampant, but most people understand it is self-destructive.
The problem with playing financial markets today is that participants are spinning the wheel and calling it “investing”. Wagering large portions of life savings, many are taking credit for lucky outcomes as if produced by talent and skill. So far central banks have been able to keep the game going and attract more victims to the table, but the odds are horribly stacked and luck never lasts indefinitely. See: Is Wall Street now just a form of legal gaming
“Whether you sit directly at a casino table, or you sit at your own virtual one. The same sort of rules apply: Sure your playing against other players, but you’re all playing against the house. And today that house is Wall Street where the actual bank is now solidly owned by Central Banks.”