Friday, December 12, 2008
Speculating in currencies is so much fun – NOT!!
"Thousands of private investors in Britain are joining institutional investors in betting that sterling has further to fall. Spread-betting companies are reporting a surge in the practice as clients, now banned from taking down bets on banks, switch their attention to the currency." ...nice to see those pesky 'short' sellers have found somewhere new to ply their trade. It still amazes me that this practice is allowed, when it affects everyone in the long-term, for short term gains for the few. My mistake it's the pinnacle of socialist capitalism.