I understand this may touch some sensitive nerves of the majority, which I could not care less about. As a trader you want to be in the minority and given the failure rate of around 98% it is obvious why you want to be in the minority.
I also understand that the majority believes the U.S. sets the golden standard for regulation and that trading within the U.S. regulatory environment is the holy grail of security. Let’s start with the security part of it; MF Global and PFG Best are just two more recent examples of how U.S. regulated brokers bend their clients over and gave it to them good. My point is that those brokers who want to scam you do not care about the law and will do so in a regulated environment just as they would do in an unregulated environment. They are called criminals for a reason.
Now, let’s get back to my original question. It appears that U.S. regulators make an effort to recruit the sticky little crap at the bottom of the talent pool which will deliver consistent under-performance and wrong decisions. Let’s look at an example or two. During the financial crisis U.S. regulators imposed a ban on short-selling and were dumb enough to think it will stop the sell-off. Dumb money agreed, smart money advised against that move and regulators listened to dumb money. Markets collapsed further as a direct result of the ban.
After that they continued their push for more regulation, especially in the hedge fund industry. They failed to comprehend that the financial crisis started in the mortgage market which happens to represents the most regulated part with the highest government interference in the U.S. financial system while hedge funds were the only ones not begging for bailouts.
Additionally they thought leverage was the problem so they opted to limit leverage and even ban hedging positions. Leverage was never to blame, the lack of risk management was.
Go ahead and share your opinions, but I ask those who want to simply state that they think my point of view is the opposite of intelligent to at least offer more to the conversation than that.
I grew up in the US and I can’t believe it’s the same country and truthfully fear for it’s future. Both sides of political and social coin are so corrupt it makes me sick to watch. Both sides except no accountability or responsibility for what they say and do They just spin the situation to fit their beliefs. Sad situation
I am American and I firmly believe that a majority of this countries political and regulatory bodies are completely full of crap. I find it really hard to believe that people genuinely believe that we have some kind of holy grail of security. I think it has more to do with how much of the money pumping through the forex market is the USD. It’s what, like 75-80% of world transactions are done in the USD?
This country has a long and storied history of over-reacting to crap and taking actions just to give the impression that they’re doing something. This is especially true in business, finance, politics. If they’re seen as not doing something about whatever problem is the one being crammed down our throats by the Mainstream Media networks and politicians, then they’re incompetent or “soft on the issues”.
So, on to the title question. How dumb are they? They aren’t. The thing is, they’re playing a different game than what we actually need them to play. They’re worried about protecting their interests, their bottom line, and appeasing whatever political affiliations they have. And none of those things have anything to do with actually protecting the interests of you or I. At this point in time, that’s just the unfortunate way America works in most tiers of government and high up through various industries.
Perfect example was the bank bailouts and then banks going, “Whoops! We didn’t keep track of how we spent the money so we can’t be held accountable!” And then Congress gave them a stern talkin’ to and absolutely nothing came of it. It’s all just an elaborate puppet show.
[QUOTE=“gp00053;498954”]I grew up in the US and I can’t believe it’s the same country and truthfully fear for it’s future. Both sides of political and social coin are so corrupt it makes me sick to watch. Both sides except no accountability or responsibility for what they say and do They just spin the situation to fit their beliefs. Sad situation[/QUOTE]
Well who voted our representatives into office? The American public did… This is what happens when you give voting privileges to youths, the under educated, the potentially mentally challenged, etc.
Your description of the people in Washington is equally valid for the majority of those who voted for them.
The American public have no choice. They vote for who is presented to them by their parody of a news media. The candidates all come from and represent the interests of the same elite section of American society.
Let me tell you. America is a who**, she spreads her legs for whoever can afford some, she thinks she looks like a princess all dressed up in her gaudy outfits, in reality she is a slut with the morals of a dog.
[QUOTE=“SDC;499174”]The American public have no choice. They vote for who is presented to them by their parody of a news media. The candidates all come from and represent the interests of the same elite section of American society.[/QUOTE]
Yeh that’s what the typical, lazy, apathetic American voter would say who doesn’t want to accept that he is actually the reason dumbtards are voted into office…
I think whoever thinks like this of who and what America is… is worse than a douchebag and a dog has more morals and show appreciation then this kind of mentality… Sir.
When Dumb and dumber comes along, everyone bails for more favorable destinations - is it any wonder that a huge chunk of “US only broker” clients have moved offshore…now who’s going to tell D&D the good news?
I think US regulators are as misinformed than they show with their poor decision making. It appears as if they have made it a mission to drive talent out of the country.
Lol he just need to be careful saying those things when I am around because I can take his whatever out and throw it back at him… Now, where is my morning coffee
I agree with you. The whole regulation thing was established not for the purpose of security but to monitor the funds. Such regulation is a form of restrictions that restricts citizens from having a full share of the countries resources. This regulation thing is just a selfish act and has no bearing on security whatsoever.
