Wall Street creates money out of vapor by betting on outcomes

[Phoebe Loosinhouse]

That's the long and short of it.

Through leverage they bet more money than exists in the world. Do you have to be a rocket scientist to see that this threatens all the economies of the world if these practices are not curtailed?

Send it to the OTB where it belongs or let them do it in a Sims world environment where their play money can only affect their play world and not the actual world the rest of us live in.

(To be clear, I am not speaking of normal futures markets in actual commodities, I am speaking of the new fake commodities like Enron's, synthetic CDOs, third party credit default swaps and the like. These type of things devised by the too clever by half crowd and the Profit at any Price crowd are going to take down the global system.)

[jwirr]

1. Wonder what they are betting when it comes to oil depletion and

global warming? I am betting these two issues will put them out of business.

[ixion]

2. If companies want to gamble, let them go to a casino

it should not be part of the public market, in my opinion, because it produces nothing.