Futures Traders and other financial types

[pct001wine]

I was just reading about the man arrested for insider trading by using embargoed ABS information and it got me thinking about the wider financial world.

Just what value do these "futures traders" and their ilk add to the world ?  When they dabble in trading pork bellies, currencies, margin lending or whatever other arcane stuff they get up to, exactly what or who benefits from these transactions ? (apart from them of course)

If you asked them what they did that contributed to the betterment of the world, what could they say ? I mean, it's not like being a nurse, aged care worker, truck driver etc., they actually do meaningful work.

I am glad none of my children ever became one of these parasites.  I'd be happier if they were piano players in a whorehouse, much more respectable.

[mini*lindy]

but without them our Superannuation would never grow, there would be less income for self funded retirees, and many businesses could not function.

Money is made round to go 'round.

[debra9275]

& they make money for the companies or banks they work for. it is a bit similar to share trading

[boris1gary]

Pct001wine, this might interest you, it's long.

http://www.cpgb-ml.org/index.php?secName=proletarian&subName=display&art=798&from=results

The genesis and development of modern finance capital

Translated from Henri Houben’s La Crise de Trente Ans, Chapter 10, with thanks.