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  • Jason Ruspini

Jason Ruspini

1 year ago

in Building Exits into CFTC Regulation on The Technology Liberation Front
Zelener fix is already there actually.. somehow missed it on thomas.gov first time around.

1 year ago

in Building Exits into CFTC Regulation on The Technology Liberation Front
Regarding the Zelener case, if the traders had the right to offset their positions (that is, exit them before settlement) the forwards would have been considered futures contracts and within the CFTC's jurisdiction. So in order to escape CFTC jurisdiction by qualifying as "spot" otc for retail traders, those traders can't exit their positions. I.e. they can't trade.

http://www.futuresindustry.org/fi-magazine-home...

The CFTC and NFA are working to close the Zelener loophole and will probably do so by 2010 although they seem to be doing it in such a way that will only affect margined/levered traders.

Also I think you technically mean "excluded" instead of "exempt" commodities, which is the reason for the scare quotes there?

2 years ago

in On Positive Freedom: Is Society Metaphysical or Man Made? on Will Wilkinson
Aside from Objectivists, no-one uses the word "metaphysical" to mean "natural". Any intelligent, well-read person can see that Rand used this word mainly as an empty signal that she was attempting a philosophical thought. Another example is her misuse of "existential" in place of the more simple and correct "existing". In both cases it is simply bad, amateurish writing.. and take it from someone who knows.
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