Churchmouse Campanologist - ChurchMouse and Rogue Lutheran on Financial Markets

Churchmouse Campanologist:

'via Blog this'

My thanks to Rogue Lutheran who wrote in last week with links to a story with which I was unfamiliar but had been wondering about.

For over 15 years, I have pondered how our global economy puts so much emphasis on trading newish financial instruments such as derivatives, collateralised debt obligations and credit default swaps.  Yes, they make big money, but whatever happened to simpler trades of commodities or foreign exchange rates — what used to be known as ‘speculation’ — and was something that most people could understand?

The next two posts will explore this phenomenon