Fearless

Wow! I won't try to oppose you or defend you because your post is very long. However what about legitimate hedgers in the futures mkt. We all know of Barricks mistake trying to lock in a price against future production but that was a mistaken prediction. If the gold price had gone down they would have been heroe's. There are hundreds of various metal co's locking in prices in those mkt's. & sometimes a financing requires that they do so to guarantee a certain amount of cash flow in the future. What about the farmer who sells crops in the futures mkt. to guarantee himself a living standard? What about a Cdn. co. or individual who protects themselves against currency loss by dealing in currency futures? Am I correct in assuming you think these mkt's. should not exist?

Regards

Joltin