Would flows of money into such unit investments be likely to show the same correlations with unit price as flows of retirement fund money into oil futures showed over the last two years? As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
Would flows of money into such unit investments be likely to show the same correlations with unit price as flows of retirement fund money into oil futures showed over the last two years?
This interview sets out my views on the role of ETFs in the energy markets.
I would argue that a combination of direct transactions between producers and consumers in the physical gas market with the use of Units for investment and payment would combine to cure the problems of the current dysfunctional market.
In particular, investors need no longer get shafted by intermediaries the way they do now, because transaction costs are massively reduced, and they would potentially have the choice of using Units in payment for gas supplied if there are no investors bidding at an acceptable price. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
Galbraith's 'Bezzle' comes to mind -an economic loss where the losers do not know that they are losing....well actually, they do, but they can't work out quite how.... "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
