How stupid of me to overlook the fact that the plan is to incorporate the new exchange in the Netherlands! Surely the Netherlands is better positioned than either the USA or Germany to patch up a derivatives melt-down that might be in the US$10 of Trillions exposure range. And putting the exchange in the Netherlands brings the German ownership a Dutch ally in the EU in the form of another surplus country. Surely two countries that, between themselves, have the combined experience of the Tulip Mania and the Weimar Hyperinflation will have the courage and wisdom to properly regulate the activities of this global financial exchange.

"It is not necessary to have hope in order to persevere."