The Pied Piper Returns
| The Piper still plays — only the music has changed, and the crowds have grown larger |
With his beautiful music he led the children to the top of Koppelberg Hill, where he took them to a beautiful land. He then made them walk into the Weser river as he did with the rats, and they all drowned.
The story is no different today. Millions of amateur investors (as children of Hamelyn) are being lured to the market with the wonderful music they hear. Going uphill (as with the rise in their equitiy valuations) gives them a unique thrill and what they see there is a beautiful land where they think they can camp forever. Seeing their happy faces and merrymaking the onlookers all join in for fear of missing out. But alas, they are unknowingly led to the river and they all drown.
Interestingly in the story, only three children are saved. One was lame and could not follow quickly enough, the second was deaf and therefore could not hear the music, and the last was blind and therefore unable to see where he was going. They went on to tell the tale to the world of what happend to the unfortunate children.
Goethe, the German writer, wrote a lyrical version of the Piper, which makes the point:
Good-humoured though he is the Piper, he charms the children like a viper,
the wildest ones follow along, as he sings his golden fairy song
and be the boys sometimes defiant, and be the girls uncompliant
I lead the musical soiree; they all can't help but follow me.
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