To: booters who wrote (968 ) 9/3/2000 7:59:14 PM From: Dan Duchardt Read Replies (1) | Respond to booters,neither any money will have been created nor destroyed. It will simply have changed hands. And that's the very definition of a zero-sum game no money has been created The person who pays $100 a share is providing all of the money for all of the gains accumulated by all former owners of that stock over its lifetime. The effect would be exactly the same as if the stock had been issued at $100 per share and nobody ever sold it. That too would have been simply a transfer of money from the purchaser to somebody else, only in this case that somebody else would have been the original issuer of the stock. Instead of the issuer getting $100M for his company, and letting intermediary owners have $900M, the issuer would have gotten the whole $1B. Of course no one would have paid $1B for the company that had no proven track record at the time of issue, so the sharing of the money transferred was necessary.
