tag:blogger.com,1999:blog-8150494391278881634.post921367842435687906..comments2023-11-15T15:11:00.318-05:00Comments on Zandar Versus The Stupid: Turn The Machines Back OnZandarhttp://www.blogger.com/profile/00396826133150556766noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8150494391278881634.post-43292427411651508792015-07-08T20:26:47.207-04:002015-07-08T20:26:47.207-04:00I say that the fundamental purpose of the financia...I say that the fundamental purpose of the financial system is to provide stability and liquidity so that the real economy can function with the minimum achievable degree of friction. In so far as the banksters fulfill this role, they have earned their billions and they are welcome to them.<br /><br />When they come to rely on instability to skim extra cream off the top, as exemplified by High Frequency Trading, they have metamorphosed into parasites that ought to be destroyed for the good of the society upon which they feed.<br /><br />As a general proposition, if your salary depends on a trade being executed NOW as opposed to - say - three hours from now then you are probably up to no good. Scientists investigating the nature of the world need split second precision. Engineers building bridges and skyscrapers need high precision tolerances. Financiers need an efficient allocation of risk and a sustainable return on productive investments; they don't need dedicated fiber optic cables under the polar ice cap to beat the competition by sixty milliseconds.<br /><br />And it is criminally insane that this kind of high frequency nonsense is allowed to endanger the real economy.Horace Boothroyd IIInoreply@blogger.comtag:blogger.com,1999:blog-8150494391278881634.post-2969131898914741112015-07-08T16:06:24.988-04:002015-07-08T16:06:24.988-04:00I'm thinking Skynet, myself.I'm thinking Skynet, myself.Martin Pollardnoreply@blogger.com