If the world's finance
communities won't let their derivative operations fail, what is to stop some trader in 2015 from taking short «hyper - leveraged» (2nd order time - sequence derivative plays don't think
exist yet) positions on all the world's
currencies?
The utopian dream of the free thinkers from Santa Monica to Riga and Tel Aviv of an anonymous
community Digital Autonomous Organization, DAO
currencies, managed by the membership will not happen on any significant scale while central banks
exist.
But it is also held that globalization has brought in its wake, great inequities, mass impoverishment and despair, that it has fractured society along the
existing fault lines of class, gender and
community, while almost irreversibly widening the gap between rich and poor nations, that it has caused the flow of
currencies across international borders, which has been responsible for financial and economic crises in many countries and regions, including the current Asian financial crisis, that it has enriched a small minority of persons and corporations within nations and within the international system, marginalizing and violating the basic human rights of millions of workers, peasants and farmers and indigenous
communities.