A common refrain of mine is that which instrument we use matters. All instruments - bonds, stocks, depositary receipts, futures and so on, all - are designed. How they're designed changes the uses to which we might put them. It would be odd to the pointTim Worstall is a wholesaler of rare earth metals and one of the global experts in the metal scandium. He is also a Fellow at the Adam Smith Inst in London and an writer for a number of media outlets, including The Times (London), Telegraph, The Register and ...