Abstract The purpose of the research – which this text presents only a first part is to show that duality specific financial instruments positive role in market growth and counteracting risks, respectively negative through speculative massification influenced by public policies. Assuming crises as moments truth, I analyse various data for Tulipmania, Great Depression Recession how they evolve u...

One important reason for the global impact of the 2007–2009 financial crisis was massive illiquidity in combination with an extreme exposure of many financial institutions to liquidity needs and market conditions. As a consequence, many financial instruments could not be traded anymore; investors ran on a variety of financial institutions, particularly in wholesale markets; financial institutio...