Another in my series of ‘interesting articles’:
Forex: World’s Biggest Market A Relative Newcomer
Take a look at some of the links contained in the article i.e. some interesting reading there too.
Regards,
Dale.
That’s an interesting article indeed, Dale. Thanks for posting it.
Regarding the last sentence in the article:
“In a world where printed money can only be exchanged for more paper money, forex is needed to keep nations from inflating away their citizens’ savings - if they make money carrying out these good deeds, all the more power to them.”
… I wish it were true that the forex market prevents the debasing of currencies through inflation.
I recently read Ron Paul’s book, [I][B]End the Fed[/B][/I], in which he quoted something that Ben Bernanke said back in 2002:
“The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation.” — Federal Reserve Board member Ben Bernanke, November 21, 2002
Ron Paul went on to comment on the Bernanke quote, as follows:
"I’m not sure that the Fed governor has ever been so frank about the Fed’s power. To be sure, he was not condemning it. He was explaining it. He believes in it…
“The Federal Reserve System must be challenged. Ultimately, it needs to be eliminated. The government cannot and should not be trusted with a monopoly on money. No single institution in society should have power this immense. In fact, I believe that freedom itself is at stake in this struggle.” — Congressman Ron Paul (R-Tex) in his book,
[B][I]End the Fed[/I][/B], 2009
Hey Matt,
Me: I’m doing alright I guess. Thanks for asking.
How about today??? We’re living in historical times my good friends!!! We are GIANTS among MEN!!! (I forget the rest of the quote but it comes from ‘Full Metal Jacket’ the movie)!!! My ‘darling’ Dow was down by around 1 000 points intraday. That is SOMETHING let me tell you!!! And the best part: I EVEN made some money out of it (although I’m not proud of myself i.e. the Dow, the S&P, and the NASDAQ are supposed to go UP not DOWN) (and I guess it’s common knowledge how I feel about forex trading)!!!
But: it’s all good. It seems as though these last few years are FINALLY starting to pay off (although the last time I thought that everything went ‘belly up’)!!! LOL!!!
But as I said: thanks for asking. I’ve nothing much to contribute to the site at the moment other than the little ‘golden nuggets’ that I get from Investopedia from time to time. I try to post articles that answer some of the questions that I had a few years ago but never got ‘concise’ anwers to. I sincerley hope that my efforts help some people.
But: YOU take care!!!
Regards,
Dale.