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The principles satisfice admirably. To what extent would a governing international body need to limit or to prohibit futures trade? I don't actually advocate prohibition, as someone will argue (erroneously) that derivatives are necessary investment vehicles. Rather, I can imagine that time (e.g. expiry, seasonal term) and brokerage license constraints could regulate surplus hoarding and waste by conglomerates.

Pardon me, if I'm all washed up, but I've been immersed in New Deal-era history. Finance got a free pass on regulation, while the proto-G8 leaders nattered on about regulating (i.e. re-inflating) price levels world-wide by tariff and domestic production controls.

The US is at that point again in the pirates' parlay. I wrote a bit how central planners intend to regulate debt production here. It would be nice to anticipate opposition from finance industry, also dependent on subisidies.

Diversity is the key to economic and political evolution.

by Cat on Thu May 1st, 2008 at 01:12:03 PM EST
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