"We risk becoming the best informed society that has ever died of ignorance"
- Rubén Blades
"You can't make up anything anymore. The world itself is a satire. All you're doing is recording it"
- Art Buchwald
"It's getting exciting now, two and one-half. Think of everything we've accomplished, man. Out these windows, we will view the collapse of financial history. One step closer to economic equilibrium"
- Tyler Durden
"It is your corrupt we claim. It is your evil that will be sought by us. With every breath, we shall hunt them down."
- Boondock Saints
Thursday, September 29, 2011
Usually when algorithms go haywire in the markets, they execute trades at wild prices; many of which will later be canceled. 'Pretend it didn't happen' is the current mantra of our regulatory agencies. The regulators would also appreciate it if you didn't talk about these events as they could harm investor confidence. What country are we in?
Until firms are held responsible for their actions or the actions of their technology, the haywire algo's (and the companies that deploy them) are free to do it again and again.
Presented below are three examples. You won't find these trades in most databases any longer, they have already been scrubbed (they didn't happen).
Wednesday, September 28, 2011
Tuesday, September 27, 2011
Monday, September 26, 2011
In an interview on BBC News this morning that left the hosts gob-smacked (google it... it is the BBC after all), Alessio Rastani outlines in a mere three-and-a-half-minutes what we all know and most ignore. While the whole interview is worth watching, the money shot for us was "This economic crisis is like a cancer, if you just wait and wait hoping it is going to go away, just like a cancer it is going to grow and it will be too late!". While he dreams of recessions, sees Goldman ruling the world, and urges people to prepare, it is hard to disagree with much (or actually anything) of what he says and obviously interventions and machinations means we will have days like this (in Silver for instance), there is only one endgame here and we hope there is less hopeful euphoria (and more preparedness) as we pull back the curtain further and further.
|The time is here. For what feels like eons, anyone with a brain in finance was complaining about the lack of "change" and the increased "risk" to the system post 2008. Finance has always been a game of hide the debt. I called it out in a college economics class only to face very minimal friction to my pointed truth about this field. If your missing a penny there is no way to make up for it, it snow balls in this field. The bankers of today are half-ass twits compared with the ones of the old. The fact that none of these f__ks has been locked up or punished for their reckless actions shows many of us just how much the system is rigged. I bet I would be questioned and possibly arrested if I went and passed someone in the suicide lane on the road and did so about 20 mph above the speed limit. This division in the gauge of the legal punishment required for dubious acts is just the beginning to a long road to tyranny, news speak, and pre-crime trials. Until this country wakes up and gets it shit together, expect to be completely run over while you see and hear daily about how lavish the elitists are living while they "fight for your freedom". I hope you 9 million Jersey Shore views are ready to serve your true king|