Apples and Truffles: PPIP is Financially Flawed, Intellectually Dishonest

``The plan as presented simply replaces the current problem with a more complex, subsidized shell game meant to hide the same problem. It fails in the key goal of setting cash market prices for the underlying assets for which there is no current liquid market. But this problem is as nothing compared to the task of setting a price on a call option on assets for which there is no current market, observable price or price history on which to estimate the either historical or implied volatility. ''