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stock markets

The origins of the SPAC, an acronym that has taken on a life of its own with the actual name falling into disuse, are not recent. In fact, as a concept, it's 300 years old - originating in a time of corporate malfeasance, fraud and abuse of investors.

As a vehicle, then, it's perfectly suited to be recognised by regulators who think they are being progressive.

Oh, and it's a near magical route for the expatriation of funds generated by organised crime i.e. money laundering.

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Wherever one looks, economists and market analysts are promoting one or other candidate with words saying that the world will be more stable and better off with that candidate - and that there will be adverse consequences if the other wins. The only logical solution is to assume that, whichever wins, the dollar will fall and markets will take a bashing. So, if capital leaves the US (in real or virtual terms) where can it go?

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