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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (2563)	11/24/2003 5:52:05 PM
From: yard_man	Respond to of 110194

when foreign banks buy, it's just an allocation decision. Do they talk amongst themseleves?? sure, just like participants in other markets do ... that doesn't mean manipulation to me. Manipulation means two things to me -- having 1) market power and 2) using that market power to move prices temporarily away from where general market trends would take them emphasis on temporarily, because if there is a market -- the market is self-correcting. Net, any such manipulation has to be a loser for the manipulator ... unless they can force participants permanently out of the game and change the course of future market trajectory permanently -- but then you don't have a market any more -- you've got a oligopoloy or monopoly