As far as I know was in Holland and trading was in tulips. There was an art to producing good tulips so there was a trading system set up so that people could actually purchase tulips on a futures. tulip prices skyrockets and everyone got into the trading not just the people who know about how much it cost to produce a tulip. Some made fortunes. An orphaned family of tulip producers made 40 times the annual wage of a skilled worker on one sale. the next year the price doubled again as the speculators were stumbling upon themselves(uneducated) to gain on the profit of the value of the Tulip. Worth now 20 times their weight in gold. Two big investors decided to sell out. soon the tulip was worth 0.
This is still what the speculators do to us today they make higher highs and lower lows. Who makes out better?????
This is still what the speculators do to us today they make higher highs and lower lows. Who makes out better?????