Most financial instruments are machines. They have moving parts within them that move in reasonably predictable ways. As with any other type of machine, it's worth grasping how those moving parts interact. This enables us toTim 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 even, very occasionally indee ...