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The Power of Money

In: The Power of Money

Author

Listed:
  • Armand Dormael

Abstract

The world is awash with money. Every working day of the year $1 trillion are exchanged between dealing rooms spread all over the planet and linked by globe-spanning circuitry of satellites and fibre-optic cable. Around the clock, electronic impulses project in a wink millions of coded financial data on Reuter screens manned by dealers buying and selling currencies, equities, futures, swaps, options, options on options and even swaptions, either as a financial service to customers or in proprietary trading. All the participants — they call themselves ‘players’ — mostly large banks, claim their expertise is based on up-to-the-minute global information and their advice on facts, not guesswork.

Suggested Citation

  • Armand Dormael, 1997. "The Power of Money," Palgrave Macmillan Books, in: The Power of Money, chapter 1, pages 1-9, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-14301-6_1
    DOI: 10.1007/978-1-349-14301-6_1
    as

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