Is forex market controlled by someone? - page 3
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Not difficult at all : all that is needed is to control information
They simply need to control the news and the market price will go on the direction they want.
They simply need to control the news and the market price will go on the direction they want.
Yeah you might be correct but I can't see how they could manipulate or control the information coming from the national reserves.
They simply need to control the news and the market price will go on the direction they want.
No one can control the news and the fact is that news comes as and when they have to. Their is some rumor before the release of the news but then we need to filter that for our benefits.
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How to control information : look at the date of that interview
After that we were simply "spoon fed" to get here where we are now
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Just a simple example how to control "information" (and forex ultimately) : private companies (like Moody's, Standard & Poor's, ... ) for example are doing the famous "credit ratings". You do not have to do anything else : they even do not have to "justify" why the credit rating is changed (the "statements" we are hearing sometimes are for a "traders joking" thread not for a companies doing the "credit rating estimates"). And the reaction is immediate
Some more info about credit rating can be found here : Credit rating - Wikipedia, the free encyclopedia
Some more info about credit rating can be found here : Credit rating - Wikipedia, the free encyclopedia
I was searching information about CREDIT RATING when USA credit rating was went down. Finally you shared link for that. Thanks mladen.
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Of forex market being or not being controlled, just one little quote :
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"The chastened former head of Barclays apologized for the "reprehensible" behavior of his traders who fixed interest rates, but told British lawmakers on Wednesday his bank had been unfairly singled out after coming forward to admit wrongdoing"
If we leave out the attempt to blame someone else, the essence is still there : "who fixed interest rates"
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And I hope that we all know what does fixed the interest rate mean in terms of forex market being controlled or not. Along with information control (of the freedom of the press it is not worth talking at all, as of the famous "credit rating" estimates, since those are after all just estimates, we have similar info as of interest rates fixing) the question that logically pops up seems to be the "is forex market notcontrolled" by someone or "can the forex market be notcontrolled" instead of the original question
Some more of how the forex market was controlled (directly). The quote :
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To get a sense of magnitude, consider this: If Libor was understated by an average of only 0.1 percentage point for a year, the discrepancy on the roughly $300 trillion in interest- rate swaps outstanding at the time would add up to $300 billion. That’s about a fifth of the aggregate capital of the 16 banks whose reports were used to calculate Libor in 2008.
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full story
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Due to its content, this article seems to be belonging at this thread :
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Libor Flaws Allowed Banks to Rig Rates Without Conspiracy
Flaws in the way Libor is set allowed individual banks to manipulate the key global interest rate for profit for years, according to traders.
While employees allegedly tried to rig the benchmark for $500 trillion of securities worldwide, they didn’t need to conspire with counterparts at other firms to affect where the rate was set each day, as some regulators concluded, said the people, one of whom lost his job for trying to distort the rate. By nudging their own firms’ submissions up or down in small increments they could boost the value of their trading books or cut their losses, said the people, who asked not to be identified because regulators are still investigating the Libor- setting process.
The ability of a single bank to rig the London interbank offered rate also is highlighted by e-mails disclosed when Barclays Plc (BARC) paid a 290 million-pound ($452 million) fine to U.S. and U.K. regulators for manipulating the benchmark, and by academic studies. The settlement forced the resignations of the top three executives at Britain’s second-biggest bank by assets, including Chief Executive Officer Robert Diamond, 60.
“It is far easier to manipulate Libor than it may appear,” Andrew Verstein, a lecturer at Yale Law School, said in a paper to be published in the Winter 2013 issue of the Yale Journal on Regulation. “No conspiracy is required.”
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So much about the forex market "not being controlled" - after all these it seems that any single bank could control it to its favor. All they had to do is to decide "how much do they need (want) to grab in in the pot"
full article