T
Trader
Guest
You left out some key words in your reply which distort the meaning of what I said. Rates are determined the DECISIONS of billions of people. I get offers to borrow and lend every day. If it is my DECISION not to accept the offer, no transaction takes place and there is no market rate determined. Market rates are determined every second in many different places every day. Without a transaction there is no market rate, just a bid and offer.The market rates are not set by billions of people. They are set by thousands of people in the position to set the rate.
They set those rates, therefore it is demonstrably not too complex to set. If companies can set it, so can other entities.
Were it otherwise, any area of conduct that the populace engages in would be deemed “too complex” to legislate.
Second, I also said that government cannot determine a FAIR rate. Government action is always way behind markets in timing. Yes, governments regulate many complex behaviors, and frequently make the situation worse. For instance, the Chinese government decided to regulate how many children millions of Chinese families should have. That decision was not about fairness, but control.