People drawn into a Ponzi scheme disguised as foreign exchange “investment” is ridiculous, but that is possible only because the world had either “normalized” or come to condone the senselessness that laid down the groundwork. Why do some governments frown upon football gambling or legalizing casinos when open betting on the ups and downs of currencies is allowed throughout the world?
That is just one of the questions, the first and probably least-important ones. Debate on whether foreign exchange “trading” is a gamble is old. Very few people, if at all, think it is not gambling. A more proper question should be why it has been accepted worldwide. The most relevant question is whether it must be stopped.
It’s tough to think that people who grow rice for others to eat, who laboriously build roads for cars to run on, or who set up wires or elect antennas so the others can have internet, are poorer than those who can predict currency movements rightly, through good luck or else.
Coming to think of it, the whole stock market idea is unfair, because it makes people who don’t have a clue about fishing richer than fishermen by simply betting on how the latter will do half the world away.
Because the world accepted that kind of betting, the FOREX-3D scandal was always something that waited to happen. Many people think they “deserve” the sudden and probably enormous wealth gained through “speculation”. When returns are 10 percent or more of the…
