Actually it was in the hands of the receiver, since the speculator who wanted it merely for its site value had gone bust.
The availability of credit from friendly central banks is of the first importance in defeating speculators.
Because the continuation value is identical whatever action they take, speculators only care about their first-period expected payoff.
This modelling strategy implies the presence in the backstage of "uninformed" or "passive" agents who buy the currency from speculators.
This provoked periodic crises, as speculators sold sterling in anticipation that the government would devalue the pound.
In fact habaneros are generally loath to own up to being especuladores (' speculators ').
Likewise, antioqueno settlers obtained support in their conflicts with land speculators.
Property speculators, industrialists, tram companies or the migrant poor in shanty towns would use land outside the city boundaries.
