Tuesday, September 27, 2011

Unethical BBC interview with trader who would like to panic people into abandoning the euro and thereby make money from it

Traders, by definition, cannot be unbiased commentators, because they hope to make money from a bet they have placed.

It is in their financial interest to swing public opinion in their direction so that people bet with their money alongside them, and so move the market in their direction and thereby increase their chances of winning the bet.

It is like asking an intelligent and totally selfish arms trader or weapons manufacturer, in an uncertain situation, if he thinks there will be a war. He will know that the more emphatically and persuasively he says that war is likely, the more he will persuade people to act as if there will be a war, and will thereby make war more likely - and guarantee his profits.

The BBC has been highly unethical in broadcasting this interview, and I have complained to the BBC. Sphere: Related Content

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