
Hypothetical ‘$2 Trillion Disasters’ And What Not…
The term "liquidity" is the gift that just keeps on giving when it comes to providing fodder for scary-sounding stories about the inherent fragility of modern market microstructure.
To be sure, liquidity is a problem, and that means anyone who wants to pen something about it is justified in sounding the alarm. It's just a matter of whether a given article does a good job of homing in on which aspect of the problem the author is looking to address - this a multi-faceted debate and the term "liqu
See CHAPTER XI, (page 185)
“WALL STREET STOCK “MARKET.”
A “Fixed” Monte Carlo. The Game in Detail Exposed. United States Attorney General’s Strange Opinion.
https://archive.org/details/usmoneyvscorpora00croz/page/184