The Egg and Butter Board

It’s pretty interesting seeing all these documentaries and books lately on futures exchanges; here’s a sort-of-review of a book by Leo Melamed, the guy who took the Merc from a pit trader’s paradise to the decentralized, electronic market it mostly is today. It’s still fascinating to me how we’ve gone from agricultural trading and hedging production to a collection of virtual markets represented by numbers, paralleling the move from hard assets and paper currencies to banking and accounts that are often just about manipulation of figures.