"THE MARKET... consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Alexander Elder

Friday, May 24, 2013

Detroit selling their artistic jewels?

Ready the artistic bail-in.  Are we really selling art to pay our collective bill?  Who will be buying?  Will they be selling it back later?

(Comments welcome.  See link below.)


Anonymous said...

It's good to see a little culture creeping into you outlook. lol Art provides much more value than just being an economic asset. It also enriches a person's heart, soul and mind. Bravo Charles.

Charles Longfellow said...

Thank's for your comment. Pity it is usually the traders of art, and not the artists, who enjoy the profit.

Anonymous said...

The artist creates for love of the deed mostly. Being able to afford a meal via that creation is greatly appreciated gravey by the artist. It lets him/her create for one more day.

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What is a Bucket Shop?

"Bucket Shop is a specifically defined term under the criminal law of many states in the United States which make it a crime to operate a bucket shop. [2] Typically the criminal law definition refers to an operation in which the customer is sold what is supposed to be a derivative interest in a security or commodity future, but there is no transaction made on any exchange. The transaction goes 'in the bucket' and is never executed. Without an actual underlying transaction, the customer is betting against the bucket shop operator, not participating in the market."
see: Wikipedia

The SEC believes that "internalization" is somehow different, and this affects ALL of your online trading, no matter what you are trading. Trades that are executed outside of the exchange, never reaching the main market, effectively hide data from technical analysis, and skew pricing.
see: Not a bucket?

"... internalization hurts retail customers and market quality"

see: EconPapers

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