Quote from walter4:
It's not about your losses, you moron. It's about you influencing the market with money you don't have. You shouldn't be allowed to do that.
You shouldn't be allowed to push millions or hundreds of millions of dollars you DON'T HAVE. This is the root of all problems (commodities, currencies, everything) and needs to be taken away, and quick.
Moron? Money you don't have? Influencing the markets - LOL!
All of these comments prove that you are ill equipped to handle a discussion on this level, so let me keep matters on a level that you can understand.
First, I have three degrees including one advanced degree, so moron would not be the first descriptor I would give myself. Second, if the problem is not about "my losses" but about the losses of others, what's the point of making the comment? Third, what on earth do you think the Currency Markets are composed of anyway? Do you contemplate a market where people with Trillions of dollars sitting around inside a piggy bank called the FOREX? Do you comprehend the scale that is $3 Trillion
per day? Are you aware of what moves currencies primarily to begin with?
Money you don't have? Do you think before you type? Do you realize just how many times throughout the course of your regular work week, where you are doing exactly this? Can you then multiple yourself times the Millions of other Americans doing the exact same thing on the exact same 24hr clock? Then scale that number to the Billions doing the same world wide?
Do you have the slightest clue about what you speak?
Do Commercial Banks, Model Funds, Mega Financial Institution or even Central Banks have the ability to "manipulate" the currency markets indefinitely or even long-term with their buying and selling? The only way for a Central Bank to "manipulate" the currency market, is to "manipulate" its interest rates. And, when it does "manipulate" its interest rate, guess what, who follows that rate move - that's right, the guys controlling both Lots and Yards that
don't have the money to do it.
I think your basic problem here is that you have taken a myopic view of how the market works. These same institutions
don't have all the money either as individual institutions because if any one of them were the singular holder of all currency in the world, there would be no currency "market" at all. Hello? A market, by its very definition implies BOTH a buyer AND a seller of the (and here it is)
THE EXACT SAME INSTRUMENT! And, that my dear, dear, friend is what prevents the problem that you are attempting to blame on the 'guy' pushing billions with money he does not have.
Think about it - think about it long and hard. If there were just one singular individual out there pushing around Carl Sagan Billions, the currency markets with "money he did not have," THEN that might be a problem. But, the fact of that matter is that there are MANY 'guys' pushing Carl Sagan Billions around and that singular fact is what you did not calculate in your rush to prove someone to be a 'moron'.
Or, why not just go ahead and admit it: you want a cashless society. Look, I've got no problem with that. If that's what you want, fine - let's do it, but you DO realize what that means don't you. The entire nature of our world changes, including the
lifestyle that you enjoy right now good or meager.
What propels innovation and why is innovation so critical to any economy locally and the global economy on the whole? One word my friend:
Leverage and I'm not even talking about financial leverage at this point, I'm talking about the kind of leverage that causes one to believe in a brighter tomorrow. What motives someone to get up in the morning, fight commute traffic, sit next to people on the subway system who think they are a 'moron' and then go to work every day for a someone they think is a 'moron'? One word: Leverage.
You need not only a bigger grasp of the world you live in, but the right framework in which to deposit your comments.
