The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: ggersh who wrote (26066)	1/5/2010 1:49:52 PM
From: Real Man	4 Recommendations Read Replies (1) of 71452

It is happening. The public opinion remarkably shifted, toward WS being "the crooks", the most despised profession in the society. However, the transition from an artificial market governed by trading in a huge mountain of quant contracts of mind-boggling complexity to a free market with price discovery that is driven by investors will not be easy. I am sure it will happen eventually, but I am less sure the reforms can be implemented smoothly. The problem is that the free market wants to deal with this enormous derivative Ponzi scheme like it dealt with all huge Ponzi schemes in the past, via an extremely painful meltdown. The folks at the top are just as clueless about the whole thing as we are, which is why they fixed the way they did, with the known liquidity fix (to deal with it later). They had to do something, and that was all they could really do to stop the meltdown from happening now, feed the Ponzi. No wonder there is no price discovery now, and the market is once again disconnected from economic fundamentals.

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