Is It Ethical?

[farmbochur]

Is it ethical if I want gas prices to go up so I can sell more Fuel Perks?

[aygart]

Buying gold in believing there will be a war so you make a profit?

I don't see an issue with that.

[CountValentine]

Is it ethical if I want gas prices to go up so I can sell more Fuel Perks?

You don't need gas prices to go up for that. Just sell less than the greedy ones. 

[CountValentine]

I don't see an issue with that.

I do and stopped buying.

[yelped]

I do and stopped buying.

That's smart because you'll lose your pants. 

[CountValentine]

That's smart because you'll lose your pants. 

I said when Trump got elected this would be a goldmine. It has been that and some. Some of us put our money where our mouth is. 

[CountValentine]

That's smart because you'll lose your pants. 

Open mouth insert foot or should I say Kool-Aid?

Coalition base in iraq is currently under rocket attack

Gold spikes $20.

[yelped]

Open mouth insert foot or should I say Kool-Aid?Gold spikes $20.

Maybe foot, but definitely not Kool-Aid. I'm not a Trump fan.

[Yonah]

Buying gold in believing there will be a war so you make a profit?

I do and stopped buying.

@CountValentine - I'm curious why you see this as unethical? I think buying things in anticipation of a short-term demand can be viewed in two ways:

- Hoarding a necessary commodity for the purposes of gouging others during the short-term demand - i.e. buying 20 cases of bottled water before a hurricane to sell at a 500% profit in the immediate aftermath; Jumping in on gold to sell at the peak.

- Preparing to preserve ones life and property: Buying a couple of cases of water/milk/bread in order to stock up for your family right before a hurricane; protecting your wealth by moving from something with more perceived risk to something with less perceived risk.

While I would agree that the former is unethical, I would also say that you'd be foolish not to do the latter.

[CountValentine]

@CountValentine - I'm curious why you see this as unethical?

You are basically betting or hoping there is a war. Not looking to make money that way.

[ckmk47]

You are basically betting or hoping there is a war. Not looking to make money that way.

Or protecting yourself in case there is one.

[CountValentine]

Or protecting yourself in case there is one.

Everyone's situation is different. My current trading in gold is to make money. There is no protection needed for my portfolio.
Look at it this way. I bring xx amount of dollars to LAS. I can bet it all on black or red, lose it all and not lose any sleep. I would not under any circumstance go over to the sports book and place a bet if there was going to be a war or not.

[Yonah]

Everyone's situation is different. My current trading in gold is to make money. There is no protection needed for my portfolio.

This is exactly what I was asking, and in that context it makes sense. My initial thought was buying gold as protection against more volatile assets (or moving FX to a more stable currency).
 

Look at it this way. I bring xx amount of dollars to LAS. I can bet it all on black or red, lose it all and not lose any sleep. I would not under any circumstance go over to the sports book and place a bet if there was going to be a war or not.

I'm not sure how the two are even related?

In the case of Gold, I imagine based on your response that you'd buy gold as an investment, but not in a situation where war is driving up demand artificially - which you believe to be unethical. What makes it unethical is that you'd be engaged in a transaction that would benefit over war.

Given what you've said about sports betting, it would seem you find it unethical as a concept and therefore would never participate.

[CountValentine]

...to profit off this virus?
I passed on pallets of masks.

[Yonah]

...to profit off this virus?
I passed on pallets of masks.

I would suggest that there is a point at which it becomes unethical. As an example - selling something at 10% premium over normal prices when there is high demand I think is fair and reasonable. Selling it at 200% of normal price is unethical, and most likely illegal.

[CountValentine]

I would suggest that there is a point at which it becomes unethical. As an example - selling something at 10% premium over normal prices when there is high demand I think is fair and reasonable. Selling it at 200% of normal price is unethical, and most likely illegal.

A box that cost $10 was selling for $100+ on ebay.

[ltttc]

A box that cost $10 was selling for $100+ on ebay.

Greedy truth but that's basic supply/demand rule

[Yonah]

Greedy truth but that's basic supply/demand rule

Nope, it's illegal - https://ag.ny.gov/price-gouging

On the internet, jurisdiction is complicated, but NY isn't the only state that has those rules.

After hurricane Sandy, several gas stations were sued by the NYAG for gouging.

[mercaz1]

in a totally free market there would be no law against gouging

[CountValentine]

in a totally free market there would be no law against gouging

"Totally free market" is pie in the sky.