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| Authored by: stegu on Wednesday, October 10 2012 @ 12:05 PM EDT |
The financial system of today is just as broken and
out of control as the patent system. It is based on
greed and wishful thinking without any clear connection
to reality. I am expecting a catastrophic breakdown
any day now, and HFT is the thing that seems most
likely to cause the disaster.
A breakdown will affect me as well, because most
of my retirement funds and probably a significant
portion of my bank account balance is most likely
being used for placing crazy bets on the stock
market right now. I can't say I'm prepared, but
at least I won't be surprised when the system
collapses into a puff of smoke, making it painfully
clear that there was never really anything there.
Greed turns to madness which ends in disaster,
that seems to be how humanity works. It makes me
sad, but I don't see us ever learning the lesson.
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| Authored by: Anonymous on Wednesday, October 10 2012 @ 03:06 PM EDT |
Any real person at a real auction who mucked about with prices
like that would be kicked out and blackballed.
While I'm here I'll just fix another quote from TFA
> As soon as they add bandwidth, the HFT crowd sees how quickly
> they can top out to create larceny.
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