> Because speculative trading is a zero sum game, it creates no wealth. And no, this isn't wheat farmers hedging bad weather. Even farmers hedging bad weather

> Because speculative trading is a zero sum game, it creates no wealth. And no, this isn't wheat farmers hedging bad weather. Even farmers hedging bad weather isn't what it used to be: http://nategabriel.com/egblog/wp-content/uploads/2019/01/6-2-Kaufman.pdf http://nategabriel.com/egblog/wp-content/uploads/2019/01/6-2...