I don't think a comparison with physical goods markets is applicable. Moving physical goods from market to market takes enormous work and space compared to the

I don't think a comparison with physical goods markets is applicable. Moving physical goods from market to market takes enormous work and space compared to the work and space needed to transmit some bits around to account for paper/electronic transactions. Accumulating risk might be an apt description of the model. However, the risk is not isolated. Do we really want people not only sitting back, doing nothing, but actively accumulating risk? Sounds like a disaster waiting to happen. When an involved party is a bank, they, by charter, will not have enough capital to survive some losses.