Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ...
by cowsandmilk on Friday March 10, 2017 @07:27PM
(#13843349)
That wasn't a swing in the value of the dollar, that was a swing in the value of those goods.
The price of a christmas tree drops precipitously the ~9PM on christmas eve every year, that says nothing about the value of a dollar.
Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ...
by dandrino on Friday March 10, 2017 @08:01PM
(#13843485)
Well, to be fair, the value of the dollar is determined by its buying power. If goods widely increased in cost, then the effective value of the dollar has decreased.
Not saying that's what did or didn't happen on 9/11, though.
Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ...
by Hannan on Saturday March 11, 2017 @12:27AM
(#13844375)
Yes, if all goods widely increased in cost (or at least, most). If it's only the goods that people buy in anticipation of (e.g.) a catastrophe, or goods that rely on those aforementioned goods to be manufactured and/or delivered, then the above comment is correct.
Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ...
by slg on Friday March 10, 2017 @06:27PM
(#13843048)
Gas prices actually dropped in the months after 9/11 [1]. Any place that was charging $8 per gallon day of was guilty of price gouging. Either way, you are comparing an SEC decision to the aftermath of the largest terrorist attack in history. Don't you think the scale of these two events is a little different?
[1] - https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=E...
Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ...
by cestith on Thursday March 16, 2017 @05:06PM
(#13889178)
Parent post said "nothing short of a global nuclear war". Don't you think that's yet another difference in scale?
Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ...
by hueving on Friday March 10, 2017 @09:11PM
(#13843764)
There is a difference between localized price gouging and the value globally of a dollar.
If I charge $1000 to eat a cracker from my cupboard, the value of a dollar didn't suddenly decrease by 99.99%.
Yes, there were in fact $4/gallon, $5/gallon, and even $8/gallon gasoline and diesel prices posted, many by noon. This also increased the price of everything shipped by truck for a while, too.
Prices came off that peak quickly, but took months to years to revert completely.