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Contest #1: Best Interview Question for Banking Industry Expert

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  • #16
    why doesn't monetary demand count as demand?

    Fekete suggests the bankers follow different rules than everyone else.

    I don't know the answer - that's why it's a question.

    Also, the numbers on that page are much bigger than I expected (, but they are tiny in relation to, for example, FOREX markets.

    Originally posted by jk
    spartacus,
    why doesn't monetary demand count as demand?

    Comment


    • #17
      the precious metals are being remonetized

      This actually is one reason I focus on relative sizes - precious metal monetary flow relative to FOREX, relative to the same PM flow of 1980, relative to each government's M1, M2, M3. Others focus on what will happens when these money flows need to be tied to something real, I'm wondering what prevents the PM money flows from being handled the same(untied, frictionless) way as FOREX & Derivatives.

      There's this FLOOD of money that doesn't need to be tied to any "real" assets, and then there's this miniscule faucet-drip of money that for some reason has to be tied to Gold and Silver.

      Some questions I ask myself when evaluating my PM position (an imprudently large part of my portfolio)

      1. WHY does all that money need to change hands in the form of Silver and Gold?
      Historical accident combined with stubborn tradition?
      Insurance against unknown counterparties?

      Surely by now most of that could be done completely electronically, and divorcing the transactions from Gold and Silver would surely reduce friction (transaction costs, audit costs, etc...)


      2. what is the relative importance of this intra-bank trading
      2a. relative to 1980 (my guess is that it's declined hugely)
      2b. relative to FOREX interbank settlements
      2c. relative to the M3 measures of various countries?

      Fekete's article has this line which I thought I vague
      ly understood

      " Provided, I hasten to add, that you know what a monetary metal is, and you also know how to make it yield a return. "

      I was drawn to Fekete around 1 and 1/2 years ago - There was quite a dust-up between between Fekete and the (current crop of) Rothbardians over the doctrine of real bills. (I found myself agreeing with Prof. F. for the most part.)

      Since I read this article I've been turning it over in my head (no conclusions drawn yet, but I'm skeptical of one of the theses, that some bankers (maybe central) are taking advantage of price moves to accumulate Silver on dips).

      http://www.gold-eagle.com/gold_diges...ete060306.html

      It's a long read, and the first time I've had Basis explained to me.


      On a side note, Eric, are you familiar with Nasser Saber's work? In short, he starts from the observation that an option is not a right to buy, it's a right to default, and from this, derives Black-Scholes, without some of Black-Scholes' assumptions, like being able to short treasuries.

      It's a wildly out-of-the-ordinary way of looking at derivatives.

      Originally posted by jk
      spartacus,
      why doesn't monetary demand count as demand?

      Comment


      • #18
        Vote for the Best Question

        Vote here.
        Ed.

        Comment


        • #19
          Voting twice seems to be possible.

          I voted twice. I was expecting to see a "You have already voted." page when I did so, but I didn't.

          Probably you want to fix that?

          Comment


          • #20
            what a letdown

            I see my question was either left out or so seriously edited that it doesn't resemble anything that I submitted. And all this week I thought I had a fair shot in this contest.

            I understand the need to edit the winning question before the actual interview with Mr. Mayer, so as not to seem like a fool to the expert, but the questions should stand for a vote in their original form.
            It's all fun and games until someone loses an eye!

            Comment


            • #21
              Re: what a letdown

              Originally posted by Uncle Jack
              I see my question was either left out or so seriously edited that it doesn't resemble anything that I submitted. And all this week I thought I had a fair shot in this contest.

              I understand the need to edit the winning question before the actual interview with Mr. Mayer, so as not to seem like a fool to the expert, but the questions should stand for a vote in their original form.
              I agree that the questions shouldn't have been edited. Some people I'm sure took pains to write out their question just the way they liked it. It's not fair to them. In addition, people who cannot spell or accurately write out their thoughts get unfairly helped by editiing.

              Comment


              • #22
                Re: Voting twice seems to be possible.

                Originally posted by ChessMan
                I voted twice. I was expecting to see a "You have already voted." page when I did so, but I didn't.

                Probably you want to fix that?
                The unique IP addr checking is no longer working with the ePoll software for unknown reasons. This isn't a Florida election, so the only fair thing to do is re-start the voting using a the Forum polls vs the separate ePolls where the IP tracking can be counted on. The voting will be limited to registered users only.

                Does everyone agree with Uncle Jack that the questions should be posted "as-is" without any editing?
                Ed.

                Comment


                • #23
                  Re: Voting twice seems to be possible.

                  Originally posted by Fred
                  The unique IP addr checking is no longer working with the ePoll software for unknown reasons. This isn't a Florida election, so the only fair thing to do is re-start the voting using a the Forum polls vs the separate ePolls where the IP tracking can be counted on. The voting will be limited to registered users only.

                  Does everyone agree with Uncle Jack that the questions should be posted "as-is" without any editing?
                  Yes, even though I had difficulty understanding a few of them. A few were also too long for my taste.

                  Perhaps do both - add a short recap and label it as interpretation?
                  http://www.NowAndTheFuture.com

                  Comment


                  • #24
                    Re: Contest #1: Best Interview Question for Banking Industry Expert

                    Ok so we'll re-run the voting within the forum with unedited questions starting tomorrow.

                    By the way, this is not the first contest we plan to do, so there will be plenty of chances to win.

                    Anyone like these?

                    Ed.

                    Comment


                    • #25
                      Re: Contest #1: Best Interview Question for Banking Industry Expert

                      I'd like to thank you all for your participation in our first contest. I hope that everyone is satisfied that JD won fair and square.

                      There will be many more contests in the future. If you have ideas for future contests, we'd like to hear from you.

                      Sincerely,

                      Eric Janszen
                      President
                      iTulip, Inc.

                      Comment


                      • #26
                        Re: Contest #1: Best Interview Question for Banking Industry Expert

                        Eric & Fred, I am also disappointed...the way my question was edited left off what I thought was most important. I was more interested in hearing if he thought the US FED should actually try to actively maintain the position of the dollar as the most important currency. JDs question clearly won more votes, so I am not complaining about losing the contest, but I think it is good to be careful how editing is done. Maybe you can set a word limit for future questions so they don't have to be edited...

                        Just looked at the revised poll, and I think you did a better job editing my question in that version...guess it didn't make much difference in my case...but a word limit might be helpful.
                        Last edited by lobodelmar; 07-12-06, 11:25 AM.

                        Comment


                        • #27
                          Re: Contest #1: Best Interview Question for Banking Industry Expert

                          Oh, and when is he going to answer these questions? Will it be a live chat or an article? Will he only answer JDs question or all or several?

                          Comment


                          • #28
                            Re: Contest #1: Best Interview Question for Banking Industry Expert

                            Originally posted by EJ
                            I'd like to thank you all for your participation in our first contest. I hope that everyone is satisfied that JD won fair and square.

                            There will be many more contests in the future. If you have ideas for future contests, we'd like to hear from you.

                            Sincerely,

                            Eric Janszen
                            President
                            iTulip, Inc.

                            Kudos to JD, it is a very good question.

                            I'm looking forward to the answer.
                            http://www.NowAndTheFuture.com

                            Comment


                            • #29
                              Re: who is it?

                              Originally posted by jk
                              is it Mr. Monopoly [the little guy with the top hat, monocle and cane]?
                              Martin Mayer
                              Ed.

                              Comment

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