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VIX short fears overblown; Rule-based monetary policies to keep vol low; G-Sib postponed Newsletter,Options

Observations & Insight Showerthoughts: Lewis in 1989, Gambling and Edge Spencer Doar – JLN From “Liar’s Poker” – “…The attraction of options and futures, our specialty item, was that they offered both liquidity and fantastic leverage. They were a mechanism for gambling in the bond markets, like superchips in a casino that represent a thousand dollars but only cost three. In fact, there are no superchips in casinos; options and futures have no equivalent in the world of professional gambling because real casinos would consider the leverage they afford imprudent. For a tiny down payment, a buy of a futures…