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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (34648)	5/29/1999 1:06:00 PM
From: ahhaha	Read Replies (4) \| Respond to of 116764

It is of the nature of markets for individuals in them to try to influence price. They can try and succeed to varying degrees. The biggest degree lasts about one day. A transient price state is actually of value because it explores where price could go. If it shouldn't, the price returns. The net effect of false influence is zero. All markets that last are free. The biggest interferer, government, has the longest influence, but the market evolves to a point where it relegates the fiat government interference to inconsequential. Thus as in the case of individuals government interference is eventually inconsequential. What will it avail you to assert markets are managed? You don't make a decision based on that because the only possible decision is to not be involved. The ultimate in market management is seen when one company monopolizes the market. There isn't a soul on SI who isn't cheering their companies to become monopolies. They think that kind of managed market is in their interest. The biggest lesson of the 20th century for governments through their central banks is that when they interfere, they do more harm than good. It has taken most of the century to implement this truth in practice. In general about all they can do is slow the rate of change in price so chaos and all its excesses don't win the day. Indeed, that is why the FED was invented, as a way to reduce extreme price movement like that which came from the Panic of 1907. No doubt it is management, but without some traffic cops the free market can devolve to piracy and then no one chooses to be involved.