firlandsfarm wrote: ↑Wed Apr 21, 2021 2:11 pm
Morbius wrote: ↑Wed Apr 21, 2021 11:00 am
What Peter said and thousands like him is THE PROBLEM. As long as that attitude remains then the ingredients for exploitation remain.
Sorry, can't agree. The ingredient for exploitation is ownership ... In a poorly regulated market he who has ownership has control. They will have learned from this episode, they will adapt their plan, do some lobbying, offer a few sweeteners and represent whether with themselves (and others) as an independent group or by influence within the UAFA corridors.
Sorry firlandsfarm but thats just flat out wrong. You're free to disagree and we each have our own opinions but there is a difference between opinions and facts. The mistake you are making with that line is two fold. Firstly like tracking a river back to its point of origin you aren't reverting to the root cause and secondly you are refusing to take responsibility for your own actions.
Some of your post has validity but just not the "ingredient for exploitation is ownership" bit and "in a poorly regulated market he who has ownership has controL". You are technically correct with both of those statements but they both lack depth which also makes them technically wrong at the same time. A few years ago there was a thread started on this forum by Pete asking for the opinions of people on the subject of whether or not the exchanges were manipulated. I never engaged with that thread because I only discovered it years later when I was researching something.
However this does when juxtaposed highlight something very important. That entire thread was actually erroneous for numerous reasons. Firstly all financial markets are manipulated but that doesn't automatically mean that the manipulation is insidious but it exists and not only that but it exists as part and parcel of what financial markets are. They are an environment that is deeply adversarial where the objective of the market is to take your money because the market itself is full of particpants trying to extract profit from it. No trader should have a problem with a market being manipulated because there are numerous advantages that stem from that, its when its something else thats the problem.
Poker is another example of a "manipulated" market because events and outcomes are being manipulated from the very first card that is dealt but that is different to blatant cheating. Chips equate to power in poker and power equates to control (as you rightly say). This applies equally to a betting exchange and money and indeed ownership of that exchange would equate to control and power...this is where your point has some semblance of accuracy. But the point of the matter is this....each and every person has the right and the power to engage at will and disengage at will. This now boils down to the root cause of exploitation and it is ignorance.......ignorance is the "currency" that fuels exploitation because without it then it cannot possibly exist, its simply the cart before the horse.
Greater education would eradicate exploitation and football fans have had ample opportunity to have been "educated" enough down the years but have chosen to remain blissfully ignorant and now they are reaping what they sowed unfortunately. There will always be people who attempt to manipulate and exploit others by the gaining of control but the real key is to keep people ignorant. No one is going to hold your hand through life and educate you in every single facet of life. Its up to the individual to educate themselves and not allow these practices to exist.