3 ms·

I see little value generated by treating money as an end rather than as a means to an end. Liquidity and better pricing of goods are the classic rewards of tha

I see little value generated by treating money as an end rather than as a means to an end. Liquidity and better pricing of goods are the classic rewards of that gambler / investor culture. Meanwhile its demerits (like the 2008 financial meltdown) are blithely overlooked. In fact, now that there's so much automated trading of all manner of financial instruments, there should be no real need for any new tradable vehicles. In fact, if liquidity and accurate stock pricing are the only desiderata of non-equity traders, and these ends are met otherwise, it sounds like we could easily do away with the entire derivative / option markets altogether as being purposeless and overly dangerous, serving only the professional gambler banker and his vain pursuit of gigabucks.

zanny 11y ago
It does not really matter what value any one person sees in it, if people who have the resources to sustain a market want said market they will create it and maintain it. Remember though that futures / currencies / even stock are just gambling at the end of the day. Its corrupt gambling where some players have much more information than others (and thus it is traditionally just a vacuum of wealth from the poor to the rich) but people are just betting on where profit will emerge with the intent to get some of it when it happens, and through their actions of investment are trying to cause that profit to happen.