Closing markets never solves anything (just ask Russia and Iceland). If you do it, people will trade in the streets instead. And perhaps more to the point, it removes the last traces of liquidity and condemns late panickers to bankruptcy. The prices are what people are willing to pay. Not having a safe, convenient place to ask and offer those prices does not make them higher.
-
Closing markets never solves anything (just ask Russia and Iceland). If you do it, people will trade in the streets instead. And perhaps more to the point, it removes the last traces of liquidity and condemns late panickers to bankruptcy. The prices are what people are willing to pay. Not having a safe, convenient place to ask and offer those prices does not make them higher.
Oct 26 11:01 am
|Rating:
0
0
All Comments by bearfund »Please Close the Markets [View article]