但冯布劳恩表示,最新研究突显出商品投机者在其中所起的作用。他说:“两年前我们没有预见到的是,投机活动能如此加剧市场的实际问题。”
But von Braum said recent research highlighted the role of commodity speculators: "What we didn't foresee two years ago is how speculation exacerbated the real market issues."
只要投机者没有对他们看空的资产造谣,或以其他方式欺诈,他们的投机活动就是对社会有益的。
Provided the speculators do not spread false rumors about the assets they're hoping to see fall in price, or engage in other fraud, their activity is socially beneficial.
投机活动与大多数赌博活动不同之处在于,投机参与者的信念会影响投机结果。在某些情况下,投资者能够创造出自我实现预言。
Speculation differs from most gambling activities in that the beliefs of the participants affect the results. In certain circumstances speculators are capable of creating self-fulfilling prophecies.
由于工业繁荣时期商品价格上涨和利润优厚,大量信贷被投机者用来从事投机活动,信用膨胀大大超过生产的增长。
As the boom of commodity prices and profits are good, a lot of credit to be used for speculative activities of speculators, the credit expansion greatly exceeds production growth.
由于工业繁荣时期商品价格上涨和利润优厚,大量信贷被投机者用来从事投机活动,信用膨胀大大超过生产的增长。
As the boom of commodity prices and profits are good, a lot of credit to be used for speculative activities of speculators, the credit expansion greatly exceeds production growth.
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