Originally Posted by Jack_Black
Don't know if it's worth it to repond to this lame post accusing me of inaccuracies and yet showing no proof or explanation but.......
MY explanation? you mean my link to an article?
you're delusional if you think there are no market manipulators in the currency market.
Now that is funny!!! you think that the world would just go stark raving mad if the banks shut down and they had no one to pay their debts to? LOL! The bank that holds my mortgage note has shut down. I'm so ****ing mad that I can't pay back my loans that I'm gonna start a riot!!! GRRRRRR.
$700 billion plus $20 trillion in FED secret loans was cheaper than nationalization? It practically is nationalization.
If you really think that the bailout was the best option, then you are either grossly misinformed, or you work in the banking industry. My guess is the latter?
In your own words you said:
"The bid/ask spread of a stock will cause you to be down another 2-3% the minute you buy the stock. For example, if you're buying a share of company at $4.25, you can sell back at only $4.15."
This is completely false. You can bid any amount you want and ask any amount you want. If the market is trading $4.15 bid and $4.16 offer you can put a bid up at $4.15 and hope to get filled or buy straight away at $4.16.
"But it still pisses me off when someone influencing the currency to have a wide swing in my opposite direction, hit my stop losses, and then reverse and go in the direction I wanted in the first place! I also hate the fact that when I'm anticipating a news announcement to influence a currency, and the currency moves big prior to the trade announcement, it means that a market mover has gotten news figures before the actual news release and is moving into/out of a currency to maximize his and ONLY HIS bank account. By the time the official news announcement hits, the currency has already exhausted it's move and is now reversing direction, thus posting yet another loss in my book."
That is ploppy logic. Do you remember all the times a currency pair runs in your favor, hits your take profit level then reverts back to your buy price? That is an equally likely outcome. In your other example do you really think some market mover has early news? I would think it more likely that seasoned traders know that gamblers trade news, so they run the price right before a news announcement and dump it seconds after release hoping that all the gamblers think the early run in price meant the news was positive. If someone actually had inside knowledge they wouldn't wait until seconds before a news release to take advantage of it.
Market manipulation happens all the time in currencies, usually by central banks. But it will help you as often as hurt you, it's a wash to a trader.
To answer the rest of your post.. You still have to pay off your loan if a bank goes into bankruptcy, depositors want to recoup a portion of their losses. I've never heard of a $20 trillion fed secret loan (I guess because it's a secret), I don't work in the banking industry (though I once traded for a prop shop). I don't think the bailout was the best option (but I don't think allowing banks to fail would be any better for long term economic growth.)