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well, I'll do my dead level best to be a gentleman in response to your miserable, anal, arrogant and insulting diatribe. To that end, I think subsequent posts disprove your adjudication. You surely have done your homework, so I won't point out where. The rest I edited. :)

Nor advocating the scenario, only proposing it - something like it as likely, nearly inevitable. The peg is simply window dressing. The sorts of people that dream up stuff like this don't need no stinkin' peg - it impinges too much on their need for control.

Here's a sketch: If the Fed "ends", it will be because it "merges" and is succeeded by a "global Fed" (same model, writ global) - "to ensure world prosperity", of course -- and issues a digital, nominally gold and/or commodity backed world currency. Everyone will marvel at what a great idea...

most people start with a VERY big acount. then it can grow into a "big" account. about that time, you should retire.

Dow E. Jones

it has been pointed out countless times that easy money squelches volatility.

if you trade it, you're guaranteed to blow up. the theory sort of obscures the common sense of it (as applied to trading) but it's a fun intellectual exercise during slow markets.

-- Dallas Fed chief Richard Fisher, appearing on CNBC. from seeking alpha

I'm getting the vibe that prop shops are hurting, so if they take your money, it's because they want to take your money, not because conditions are so amenable to prop trading.

Are you saying that shorter time horizons are less random? I don't think you are. Let's see if I can clarify. Two blips do not make a trend. A dozen or a hundred might. A trend is not random price action (though, yes, we observe what appear to be trends in random data). If you watch...

OK, Champ.

I suppose you could say being handed the biggest order book in the industry is a "talent" but I think even Mr. Jones would choose being lucky over being talented, if forced to.

You remember 1987 because it happened once since 1929. It, and the "many other occasions" you cite include automated trading. You really don't want to debate this question, do you? The term "flash crash" is older than you are. It's a modern, machine-generated phenomenon.

This is an interesting topic and I'd like to get past page 3 someday. I respect all the input I've read so far; it's certainly not something I can comment on except to say this: human being make orderly markets. they were run off by the machines, which work much more cheaply. Now you get...

Not only was he mentored: he worked in the Cotton ring. And when you stand in the ring with cash business, everyone is at your beckon call. It's hard to screw up a tailwind like that, but I suppose it's possible. What he's gone on to do, though, proves that he has a particular talent for...

I've always admired Mr. Jones. However, it must be acknowledged that he was a given a fairly generous headstart. Of course, he seems to have had the chutzpah to make the most of it.

Says who? And what, exactly, is "center"?

It's clearly not, though it has borrowed from it and to that extent it is a progressive perversion of it. Its implications for social organization are vastly different than that of conservatism.

when can they trade?

Definitely didn't see that coming. Anyway, I found that thread I mentioned. It's a fascinating read now; there were so many prescient comments by a number of posters. Definitely worth a perusal. http://www.elitetrader.com/vb/showthread.php?s=&threadid=6421&perpage=6&pagenumber=3