http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_mukherjee&sid=apm.ICwxSAuQ Is it me, or is this ban just nuts?
yeah.. just you. The true price discovery is made when there is no futures markets... but, I am sure my fellow traders would try to convince me otherwise.
Not crazy, just some old remedies of socialism. As far as price discovery without futures. Tell it to a farmer, who faces huge risks, and see what he will respond.
Even better, the true price discovery is made when there is no currency. I want to exchange my trading software for wheat. But the farmer who sells wheat has no use for a trading software. I think I'm going to starve...
Uhm, direct producers can still make forward agreements with direct buyers. Anything beyond that, is a bunch of BS and paper pushing. Look at any futures market today and it's mostly pure speculation with little reality. Most of those agreements can never be met. Re-educate yourself about the tulip bubble and why Holland banned derivatives for centuries.
He didn't say anything about capitalism, just socialism. You should stop reading into things. On the other hand, ...I think a free and open marketplace where prices are dictated purely by market forces is the embodiment of capitalism. Let the market be your guide.....