The Fed Robbery: new evidence | Sniper In Mahwah
▻http://sniperinmahwah.wordpress.com/2013/12/04/the-fed-robbery-new-evidence
« Time has been annihilated », said the first telegraphic tweet in 1848. A decade later, in his (then unpublished) Outlines of the Critique of Political Economy, Karl Marx wrote about #capitalism as a machine which caused « the annihilation of space by time ». Perhaps Marx was right about space: in 2013, the Chicago Board Options Exchange (CBOE) is no longer in Illinois but in Secaucus, New Jersey. Geography has changed, but time has never been annihilated, and high frequency trading proves that: the space of the old pits became a matching engine, the old human traders became algorithms (in fact, a trader is a mix between human reason and non-human rationality), and an exchange is now a huge data center where algorithms are co-located close to the matching engine. If time were annihilated, we would live in the best of all possible worlds but there is an issue: an algorithm working from Manhattan will get information slower than an algorithm co-located in New Jersey data centers. So, the statement « let no man put asunder » is nothing but a dream. The #algorithm located in Manhanttan is is rent asunder from the matching engine, and a milliseconds latency between them is now relevant. Time will never be annihilated… because of space.