THE ‘ELECTRONIC ERA’ HAS BEEN EXTREMELY LUCRATIVE FOR INSIDERS!
by AL Whitney (C) copyright 2012
Permission is granted for redistribution if linked to original and both the author and the AntiCorruption Society are acknowledged
Recent evidence of this ongoing skullduggery:
A technical glitch at a major Wall Street brokerage of stock trades caused wild swings in a number of stocks shortly after markets opened.
The malfunction occurred at Knight Capital, one of the largest processors of stock trades.
The company said in a statement that a ‘technology issue’ had occurred in its market-making unit related to the routing of shares of about 150 stocks to the New York Stock Exchange.
Joe Saluzzi, co-head of trading at Themis Trading told FoxBusiness.com: ‘The [algorithms] went nuts this morning. Someone has a major, major problem on their hands.’
CNBC reported that such algorithms are developed by major brokerages that buy and sell stock in accordance with formulas and market situations.
Not everyone agrees with the practice.
Phil Silverman, managing partner at Kingsview Capital, told CNBC: ‘This algorithmic trading is kind of out of control. It seriously hurts investor confidence.’
Max Kaiser tells the truth about electronic high speed trading and their ‘algorithms’. (2 min audio clip)
Max goes on to expose the theft of millions each day by investment bank Goldman Sacs (1 min audio clip)
Additional topics covered by Max
- LIBOR rate scandal
- Insolvency of major banks
- ‘wash trade’ technique of controlling the value of stocks
- Facebook business model is a fraud
- Pending collapse of the Wall Street exchange
- Wall Street corruption rules the economy
- Post 911 the US government has become tyrannical
- Governments are recreating medievalism and are dumbing down the general population