Following with the "Global Casino" subject of the previous article, next we illustrate one of the great dangers of the financial markets Globalization:

”History shows that the need to trade has been the motivating force behind many of the mankind’s greatest accomplishments. Columbus discovered America not because he had some romantic notion about finding new lands but to open up a new, more profitable sea route to the East. Vasco da Gama, Marco Polo and many of history’s characters were driven by the need to trade.

It is ironic that, several hundred years later, one can still recognize similarities between these early pioneers of global trade and those behind today’s computers screens in the world’s dealing rooms. Many of societies most successful characters, both historical and contemporary have achieved their remarkable feats by ignoring the advice of their superiors, working independently of the system (by creating new systems) and following their instincts rather than the rule book (changing the rules). If this sounds familiar, it should — they bear an uncanny resemblance to the characteristics of many of the more notorious rogue traders of recent years. The difference between monumental success and monumental failure for today’s overly competitive ambitious dealers is marginal . . .

Rule books, sophisticated risk management systems, and training all have a place but as history shows time and time again, human nature will prevail particularly as many of very qualities which make a successful trader are those that could ultimately be ruinous . . .”
From Aon Group Limited brochure - Rogue Trader A Guide to Cover

But we have to be careful of not going away to fill the history of today and of the mediate future, of personages who with their success, take to the ruin the World as a whole and finish dragged they themselves in the same black hole. What is desirable is that those personages who today operate the economic resources are successful without necessarily they happen to history; but making a history of success, in a scenario where the well-being be extended and becomes generalized; only in such scenario will endure their successes and history will respect them.

Only conscious and transparent behaviors will save the "Global Casino" whose operators are responsible for at least 90 percent of the trading on the daily currency markets -as Hazel Henderson sustains- and also handle the world investment transactions in the primary and -mainly- in the secondary money markets, in a virtual way from their computer stations.
Before managing the world in a virtual way, it is necessary to know the real world.

Luis Bravo Villarán