FX Market Watch
The significance of the forums is
they represent a powerful new
force defining how information is exchanged among the investing public. Some investors may remember ‘investment clubs’ popular in the 80’s and 90’s. Now, investors can read forum posts without anyone ever knowing – comments, opinions, and some facts, are out there for all to see. Although much of the content is unsubstantiated babbling, there are many hidden gems.
Sites such
as WikiLeaks and Zero Hedge have been significant forces in disseminating information that otherwise would have been kept from the public.
At the most recent TED conference, Gordon Brown quipped that:
“Foreign policy can never be the same again.” The power of technology - such as blogs - meant that the world could no longer be run by “elites”, Mr Brown said.
Policies must instead be formed by listening to the opinions of people “who are blogging and communicating with people around the world”, he said.
This implicates a new user-driven de-centralized internet model will lead new paradigms, not the 20th century, centralized model. The current is
debate all about centered on a
regulation centralized
government authorized regulator. 42 FX TRADER MAGAZINE April - June 2012
The problem with the centralized approach, with modern technology including the internet and modern government systems, a company can relocate its offices in a matter of hours in another legal jurisdiction. For example, after the NFA enacted rules affecting the way trades must be accounted for, such as the hedging rule and the FIFO rule, many Forex FCMs shifted their operations to London due to customer request . This was not to thumb the NFA for their rules, but in response to angry customer emails demanding they continue to allow hedging or they would simply move their accounts to London based firms who wouldn’t ban hedging anyway.
a conundrum of control, the more they squeeze the more customers will move overseas, or cease to exist (result is the same).
The internet has a downside – unsavory marketing groups can register ‘private’ domains which sell ‘sham’ products, competing with legitimate providers. For those who don’t know what to look for, the marketing sites can be deceptive and misleading. But since criminals usually don’t register with the police, there is little regulators can do.
In some cases, vigilante groups have sprung up with the sole purpose of having the scam sites shut down while providing a review service similar to consumer reports.
It’s The Forex Metaphor
A metaphor is an appropriate tool to explain something from another dimension, not easily explainable in
Gordon Brown at the TED conference
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