Quote:
Originally Posted by Botten
(Post 3718331)
A new record was broken today in America $2 trillion was lost in the stock market!
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it wasn't lost, it went somewhere, people that just bought into Nvidia and other tech companies after they've already gone up 9,000% or whatever since covid deserve to have their money taken.
and it's not real until they sell their stonks for a lose. there are people who are still waiting to break even on IBM and Oracle and shit from the dot.com bust.
and oh well the retail investor that would have bet that same money on a football game instead "lost"
all the degenerate leveraged option gamblers lost their money though
also it was 1 trillion this week, your thinking of 6 months ago when it was 2 trillion because of the USD/Yen thing
Quote:
The sharp rise in the JPY/USD is causing a massive unwind of Yen carry trade positions and contributing to the sharp decline in US stocks. For those who do not understand how this works, a brief explanation
Many traders were borrowing Japanese Yen (JPY) at low, to almost 0% interest rates, converted them to USD and used this to buy US stocks
Now that the Bank of Japan (BOJ) is raising interest rates, the JPY has strengthened significantly against the USD.
Japan’s government is engaged in a GIANT $20 trillion "carry trade“ - the funding of loans and foreign assets by borrowing low-cost yen.
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this shouldnt even be legal lol
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