You did not say that in the first place....you implied HFT use $5 million per contract...maybe you misspoke..(not clear in what you were trying to say) The rest of your statement suggests you are green as grass on an Irish hillside...not what you say; it's how you say it... NiN
That's $5k per contract allocation, EMG allocates $100k per contract which is valued at $63k+ currently, that means he's got ~$37k parked making less than what they would in T bills
They are responsible based on SEC report: http://online.wsj.com/article/SB10001424052748704029304575526390131916792.html
Governments say what people need to hear. You said it yourself about HFTs ability to move market is limited & what happened on May 6th was liquidity vacuum. I posted on another forum at the time that weekly TICK did look anything but bullish & that caution had to be used if going long SIFs at that time. Similar picture is present now where NDX is at neckline of a massive inversed H&S, but weekly TICK suggests that buying has been subsiding as it's MACD has been falling towards the centreline & now is below it. Jim Rogers has been saying for a while now that he is not buying equities & the way market dropped on May 6th points to lack of confidence when market is weakening. Nobody rings the bells when at the top