In this episode of Keiser Report, Max and Stacy discuss the fictitious capital markets being driven higher by retail traders and meme enthusiasts, in an options-enhanced rally fueled by their own collective delusions.
“It’s all cosmetic, it’s all perception,” it senses 1971 going off the gold standard, says Max, adding that “The valuation is driven by perception. Tesla is a meme, that’s the value, it’s the perception of the meme.”
According to him, Tesla’s “underlying fundamental value is one-tenth of what the price is at the market at most. But as a meme it has value, but the global economy is based on memes.”
“Wall Street is going to feed whatever. There is a saying on Wall Street ‘You feed the ducks when they are quacking.’ The millennials are quacking, so you got to feed them,” he added.
For more stories on economy & finance visit RT’s business section
