Stacy Summary: Okay, which argument do you believe in the high frequency trading debate? Front running all the little chumps and ponzis that dear take them on? Or a Geldofian worthy cause to help all in the market?
Hat tip headlines:
- CIBC surges on electronic front-running (h/t Guiseppe Bagodonutti)
- New taser can shock three at a time (h/t Mini US)
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Stacey, dear, you misspelled “dare.” Not trying to be picky…Just want to keep you looking good, dear.
Love, davio
@ Dedo
Glen’s gleanings have a distinct H.G. Wells flavor, and somewhere in the shadows we glimpse… is it those wise men?
Note the standard starlit black sky (thousand points of light) on the GK home page.
Regulator report blames speculators for oil price swings http://link.reuters.com/dac59c
What the HELL ! Today there is a huge treasury auction so the dollar goes up ?
A police state piece:
Military ops spying on peace groups:
http://tinyurl.com/mvtdw6
GOLDEN TIMES FOR NERDS
What we are seeing is that there are companies who help you trading with Counter Flash Trading. Meaning that the software dedects when your trading bid is dedected by Flash software from a counterparty and swiftly millisecond you of the hook.
I predict that it won’t be long or every trade is essentially software driven, no humans anymore only Terminators will do thye job.
So how the heck does this benifit the real economy? Answer: Not only doesn’t the real economy profit from it but it costs the real economy loads of money only to keep a rigged crony system in place with people who earn insanely to much with doing essentially notin!
This wil be a NERD WAR between the most cunning software skimming loads of money out of the real economy which is allready suffering immensely.
So, who’s gonna do somtin about it? My quess is that notin will be done until this system eats itself out from the inside. People in the business won’t like to see their easy money cow go. You can’t rely on them cause they profit unashamedly from this rigged system.
Only somebody from outside the business could make sane decisions and unfortunately we’ve got nobody outside the rigged system, they are all insiders. So, until than it’s just waiting for the final countdown for the collapse.
In case you missed it:
Bloomberg’s Pimm Fox On High Frequency Trading http://tinyurl.com/mdovud
@ME: my exact thoughts!!!!!!!!!!!! Remember Dubai Ports World were nearly given control of many US port facilities…then there are the airports, the rail lines, and the roads and farm land and, and, and…..the list could be a long one..
@Max & Stacy
What is your opinion on these direct talks between Geithner and Chinese representatives? What cunning schemes will emerge?
An interesting take on things, from one of my favourite writers – Joe Bageant:-
http://www.joebageant.com/joe/2009/07/slacker-kid-nails-it-money-is-slavery.html
“…………..And so the looting CEO and the corporation cutting cuts jobs to make the books look good for the big guys on Wall Street, are not guilty of looting, or cooking the books. They are guilty of “not doing their jobs,” as if their “jobs” in any way resembled what the rest of us do. Workers know only work and jobs, because they have been undereducated, misinformed, university indoctrinated and psychologically pistol whipped into submission. It is utterly ridiculous that any adult cannot figure out the obvious inequity of this nation and American capitalism, where an elite one percent of the people grab 45% of the national pie. Such a conditioned stupidity and powerlessness makes you want to cry for your country. Or just get out of the goddamned place for long periods of time, to keep some sort of perspective and your sanity. I do some of both.
But Eddie and his fellow underclass Americans are stuck here. They have no idea that industrialized people elsewhere as poor as themselves do not live in such fear. They have no idea that old people in Sydney or Stockholm do not, as Eddie does, have to cut their blood pressure pills in half doses because they cannot afford to refill the prescription, which requires a doctor visit for re-authorization, plus $40 for the prescription monthly. We’re talking about a man here in his seventies, living on about $800 a month, who, according to national social policy and benefits, is supposedly protected by Medicare — but chose the wrong plan under the purposefully confusing plan C, which is just another way to shift more money and profits uphill.
But what if the profits were distributed more equally among full time American workers? What if that one percent of Americans last year had not earned as much as the bottom 45 percent combined? Every working American would be earning $72,394 per year at the least (a 2007 calculation). And there would be enough left over to double all Social Security payments to boot. And this is allowing for necessary industrial social reinvestment, taxes, balancing of trade deficits.
An excellent calculation table of this can be found in the appendix of Charles Andrews’ book, “No Rich, No Poor.” I’ve asked a couple of capitalism loving economists to refute this table. One admits he cannot and the other refuses to return my calls. But the truth is that the $78,000 a year doesn’t mean shit. The price of that, redistributed or not, still means the destruction of what natural resources remain on the earth, simply because of the capitalist system we use to generate a money-based wealth economy instead of a labor or social credit based economy. One of the most insightful things I’ve ever heard came back in the 1990s out of the mouth of the dumbest looking slacker kid you can possibly imagine, a kid named Chris B. “Dude,” he said, “money IS slavery.”
By the way, about serfdom and feudalism: The end of English feudalism came when the public control of the land under the village system, the means of production, was taken away from peasant farmers by the lords, to whom they had previously just paid an annual rent in crops. When rents reached about a third of their production, they usually revolted. Under the old system, they were in no way slaves. They did not work for the feudal lord every day, or even most days, though they sometimes had to supply labor for roads and bridges and the lord’s property. But they were not slaves, nor were they wage labor……………”
Note to Law Enforcement: You shoot me with a taser, I will shoot you back with a water hose. ..Deal, or no deal?
Discussion about crap and trade has been delayed until September. Why? Evidently, this was just too much for ‘whitey’ to bear BEFORE sending the kids back to school. As an armchair investment guestimator, (and prior health care insured,)I would think collecting ‘tuition’ BEFORE a market crash is merely prudent planning…
If you realy want to Follow my Economical Headlines, Follow http://www.twitter4all.com/channels/Economy Updated Hourly!
http://www.marketskeptics.com/2009/07/fdics-guarantees-boost-profits-for.html
Market Skeptic site reveals that there is only 13B in the FDIC account currently: held in TREASURY IOUS!
http://subrealism.blogspot.com/2009/07/more-grain-fewer-nutrients.html
More grain fewer good stuff in it?
Oh my!
A petition to ask for Michael Taylor’s resignation and to oppose Dennis Wolff’s appointment:
http://salsa.democracyinaction.org/o/642/campaign.jsp?campaign_KEY=27042
@Anythingbutgreen,…….Was listening to GK the other day, and nodded off to sleep!,….must’ve reminded me of the fairytales I was told as a child, before bed time. : )
Did some original reporting on our local anarchistic community (Anger is an Energy!)…
http://www.sunreign.com/info/Anarchy
“If these people (key people in government/business/) don’t hate our country and our prosperity and our independence, and if they are not deliberately targeting the middle class for destruction, how would they behave differently if these were their intentions?” Will Grigg
Looks like crap and trade is snatching stimulus bucks!
Remember Thain’s gold potty?
http://www.bloomberg.com/apps/news?pid=conewsstory&refer=conews&tkr=BID%3AUS&sid=aX8hnPMv2kn4
Tarp bailed out Thain’s bum and now some of the stimulus is going to ‘potty pork’:
http://www.politicsdaily.com/2009/07/27/potty-pork-stimulus-money-flushed-down-the-toilet/
@ Dedo, Dustin
Catching up after a break. Very off topic.
Re: Glen Kealey
He’s a hoot. He has “borrowed” heavily from a couple of masonic-sci-fi authors. In turn, AW site has some close similarities to GK’s site, and some of the GK newsletters are seeing a much wider circulation as AW’s books.
GK’s sons have “interesting” jobs in security and so forth.
AW seems to live on or adjacent to a Norad facility, which would be handy for fine-tuning if he happened to be chipped (as Jacqy Patru claims).
Quite the matrix!
@Mongo.
Big fan of Schiff myself.
Although all this senate talk means he does less vlogs. D’oh!
I think Bernanke’s plan with all the extra cash in the system is just to let the banks keep it for bonus’ for the next ??? years. When inflation does hit he will just let the banks absorb $US 2 trillion and it will go away.
It will be held as a ‘Bonus’ Bonus’ if you like.
That way these guys have a guarenteed source of bonus’ forever. Thats what this whole ‘crisis’ has been all about. Securing these bonus’ and pretending to help the country at the same time. Who is gonna argue with that – If its GOOD FOR YOU!
Oh weird, now I am starting to think like a banker… Curse you Keiser.
Hahahhahahahaha!!!
Bloomberg’s Pimm Fox On High Frequency Trading http://tinyurl.com/mdovud
@Max Keiser.com
Hey Max.
Can you explain ‘position limits’ on silver and Gold that Ted Butler is talking about, in your Markets show?
If you get a chance I would appreciate it.
I know he is selling silver, so its taken with a grain of salt. (ehem)
Also, the cahnces of the SEC of changing any regulations, considering the power of the big banks like GS and JPM.
Bernard Madoff, the Mafia, and Naked Short Selling http://tinyurl.com/lpolcu
Gold and Silver suddenly down.
Bernanke’s TOOLS are still working.
Teds seems to know his stuff….
http://www.kingworldnews.com/kingworldnews/Gold+_Broadcast/Entries/2009/7/24_Ted_Butler_on_the_Metals_Market.html
I just love Peter Schiff (and Max & Stacy of course!)
“In a Wall Street Journal op-ed on Monday, and in congressional testimony later in the week, Fed Chairman Ben Bernanke reassured all that thanks to his accurate foresight and deft use of the Fed’s policy toolkit, he could maintain near zero percent interest rates for an extended period without creating inflation. With supernatural powers such as these, one wonders if Ben would be better employed by the Justice League rather than the Federal Reserve.
Ben’s game plan is apparently simple: once he determines that the economy is on solid ground, he will use the monetary equivalent of Superman’s laser vision to strategically evaporate all the excess liquidity that he has recently created without endangering the recovery. Don’t try this at home, kids.”
http://www.europac.net/externalframeset.asp?from=home&id=16818&type=schiff
@Mongo
Yep, that was amusing, Max with the prop instead of the tie. I believe I also owned a prop in that time.
Stumbled upon this one: Max Keiser on CNBC HSX Interview
http://www.youtube.com/watch?v=J7Bwk8qmgT8
So, this joint efford film making is an old idea but good ol ideas never die or fade away.
@snoopdiddy
I sent an email to K.Rudd about 3 months ago saying that if unemployment didn’t smack these FHB in 2009/10 then higher interest rates/inflation would smack them later. Its like they are luring them into financial disaster!
Govt and RBA have just been continuing what actually started the problem in the first place, ie low interest rates and free Govt (our) money.
They are treating us like morons and we need to let them know that we know whats going on. Its just emails to the Govt (and Lib, etc) website. I usually get a reply, usually treating me like a moron. So I reply with something rude then. Ha!
I even write to the RBA, same happens there. But at least they know there are people out there that are onto them. Transparency, doing dodgy deals with Iraq to print our money. That has just been swept under carpet. I say audit the RBA crooks too!
Some information about Monsanto:
http://home.comcast.net/~plutarch/links/monsanto.html
@Sharon
Logic suggests the most evolved people would be driven and bussy procreatin’ most of the time so as to get to the next (more beautifull) generation alive and kicking as soon as possible.
Its not the smartest that are most populous, it must be the hottest
Beware of a guy that tries to teach you about evolution…
Sharon
Yes am trying to get a picture in my mind about where everyone is…….to see if its possable.
I think we need to have a set of objectives:-
1. To promote the thoughts & idea’s of Max & Stacy
Mike
I love this headline, “Best Emotional Revenge Clip of the Year”
http://dailybail.com/home/max-keiser-goldman-sachs-are-scum-thats-the-bottom-line-best.html
Goldman are choir boys next to Monsanto. Can Obama possibly alienate his base any further? I have officially lost any & all respect/trust for this administration. Another 4 years with Bush-in-Blackface.
@Mike2Liverpool……………Good idea! Count me in.
It’s funny, the number of times I read on-line that people are so frustrated because they don’t know anyone in their vicinity that thinks like they do, or sees the world in the same way, or basically has woken up. I often think to myself that these people should be getting together rather than just blogging.
“We got rid of the yuppies!”
Wow, hero then.. hero now!
Max Keiser in the 80s:
http://www.youtube.com/watch?v=G1ga23DIAo8
@ Mother Earth…………………..People have to be different in order to provide some guarantee of at east a partial fit with their environment, leaving some to evolve further…
Makes sense. I read something recently on this (can’t find it now) which basically said that people who have evolved the most tend to be more solitary. I guess this too would make sense because if you’re relying on the majority for your survival you’re screwed.
Sharon
I am planning a meeting of …”The Keiser Group”
Mike
@Youri,…..yep,.Crazy isn’t it,….$146,000 to kill a person with a bunker bomb, and folk are going hungry!
Steve Keen’s latest essay has this interesting quote: That private debt does not deserve respect. It was irresponsibly lent in the first place, and the financial institutions that lent it should pay the price–not the public nor the public purse–via deliberate debt reduction. This of course would bankrupt those financial institutions, but as should be obvious from the US experience, these institutions are effectively bankrupt already.
Keen could be a guest for ‘On the Edge’ .
@Youri Carma
Some quotes from your link to the ‘loaves and fishes’ story. Or is it ‘bread and circuses’?
A get the feeling the story is written to appeal to little old ladies.
…Some people I shared this story with cried…
…Phoebe, an adorable little girl with long brown locks, peach-colored cheeks and big doe eyes, like a character straight out of a Disney after-school special…
…Albert, a spunky, grey-haired woman, with big Coke-bottle round, purple rimmed glasses, who resembles a jovial, energetic, Sunday strip comic book caricature, admits…
…Albert’s loud, one-two-three eyes-on-me classroom voice softens as she admits…
I just wonder how they would describe Max?
@ MiniUS,
thanks for that article,
“The current period, “ought to be the time when we can add to the dwelling stock without a major run-up in prices,” Mr Stevens said, pointing to lower employment levels, falling inflation and fewer labour shortages.”
Why would more supply increase house prices? The inflationistas can’t even contemplate the concept of lower prices these days.
Here’s a cool investment.
Car parking places.
In Madrid people would buy up one or more car park spots and just recoup their money and more over time.
No upkeep, maybe the odd power hose spray.
@youri Carma,.. my sentiments exactly ,in the words of billy blake,..” charity is a cruel thing ” [meaning i suppose that in a just and equitable society there should be no need for charity in the first place.] ps ..ever see any rich people feeding pigeons ? ,..no ,it’s only poor people that you ever see feeding pigeons or birds ,rich people are too mean to do so ,they would only do so if it was a tax deduction .time to hit the lonesome road, gotta keep moving …. http://www.youtube.com/watch?v=3i-Ba436XcQ
Hahahhaha
Hey Mike.
I saw a horse trainer on TV giving a speech after winning a major cups race. He had a comb over, you know the ‘drag the hair over’ the bald patch.
Anyway, the wind sprung up during his speech and he ended up speaking for 10 minutes with this foot long strand of hair shooting straight up in the air.
Boot polish is a cheap alternative.
Good luck mate.
@Max ,..I like his analogy,…Goldman Sachs / Toll takers,.quite ancient,….nothing changes! (Re: Michael Lewis) just peoples perception.
Yes Rudd is a freakin genius(not) – Reserve Bank of Australia are warning about something that they helped create.
They seem to be admitting that the ‘STIMULUS BUBBLE’ is outta control.
http://business.smh.com.au/business/rba-warns-of-housing-price-bubble-risk-20090728-dzjy.html
Peter Schiff has been saying forever that Govt stimulus is only making it worse in the US and anywhere else stimulus is occurring.
It is just continuing the problem for longer.
Morons!
@Max,
what does ‘put on the short skirt’ mean?
I read the article as satire.
only an Italian could write so colorfully
http://www.asianews.it/index.php?l=en&art=15715&geo=&theme=&size=A
I’m surprised to see Michael Lewis put on the short skirt for GS
http://www.bloomberg.com/apps/news?pid=20601039&sid=a2X3hNaWcbeg
British pensioners among the poorest in Europe
http://tinyurl.com/kmd3bw
and about to get a whole lot poorer
burn down the banks.
Only in America: First you impoverish the nation and than you make big money in advertisemnet with a show about a rich 5 year ol feeding the poor. This is realy disgusting. Just like Goldman Sachs having champaign charity parties which are payed for by the taxpayer anyways.
5-Year-Old Girl Feeds Nearly 18,000 Hungry San Franciscans; What Can You Do? http://tinyurl.com/nazb52
@Sharon
People have to be different in order to provide some guarantee of at east a partial fit with their environment, leaving some to evolve further (expecially beautifull woman I read this week)..
Perhaps we should score people on this test, and prohibit exceptionally high and low scorers from working in the financial sector.. http://en.wikipedia.org/wiki/Wisconsin_card_sort
@ Mike/Liverpool…………..why?
@ Mike/Liverpool……………..Sunny Birmingham.
Sharon
Where abouts in the UK are you?
Mike
@Dedo & Mother Earth…………Re: People who follow orders even when they have a choice not to. I agree with you Dedo but I don’t understand why some people do and others wouldn’t. Is it a difference in personality? Is it down to how much fluoride has been consumed, Is it brainwashing? Is it nature or nurture?
It always amazes me how people can be so very different even when it comes to blatant, in your face truth (some still won’t believe) or basic survival which should be instinctive imo.
High-Frequency Trading Faces Challenge as Schumer Presses SEC http://tinyurl.com/kojafd
FACTBOX: Draft bill to tighten U.S. OTC derivatives rules http://link.reuters.com/mat49c
@Dedo
Eh, they take giant steps and hope their legs don’t break…
After several millions of years of evolution, the human race, unknowingly blinded in their arrogant supriority, was finally ousted from the planet by a cunning scheme of lab mice and rats, who in cooperation with the buddingly intelligent computers convinced the scientist it would be a great idea to all go to the moon. The confused population was herded into giant rockets and blown off, leaving only a handfull gyriatric caretakers that where quickly hunted and devoured as a delicacy amongst rats..
@MotherEarth,……..Most folk have lived their whole lives being fed a plethora of what if scenario’s, so it’s hardly surprising that they have irrational preconceived ideas of danger. Not unlike the two guys who were threatened with the “idea” of whatever they were threatened with.
It’s the easiest way to create opinion and behaviour in folk to first raise their emotional content. (9/11)
I read this:
“In his opening remarks, Treasury Secretary Timothy Geithner tried to reassure his Chinese counterparts that the federal budget deficit would not be allowed to expand out of control.”
From here: http://www.marketwatch.com/story/geithner-reassures-china-on-budget-deficit-2009-07-27
My question is: When is a deficit out of control if it’s not out of control hitting above 1 trillion and going strong for 2 trillion?
When is something out of control? What terms constitutes a definition of “control” for Geithner?
@MotherEarth,….I’ve never met a moon person!,..what they like?
The moon people, think of the bloody moon!
Sharon
The rest of the World WILL!
But US/UK…………Er Nope!
Watch how they try to mis-rep inflation as growth.
Mike
I’m currently listening to France 24 (Face-off) and they are saying that we are now coming out of recession. Yipee!
http://www.financialsense.com/editorials/quinn/2009/0727.html
Must Read imo.
Animal Farm – 2009
by James Quinn
July 27, 2009
“All animals are equal, but some animals are more equal than others.”
George Orwell – Animal Farm
Our benevolent & glorious leaders make everything AOK.
Inform on your parents for counter revolutionary activities.
Front running the market benefits your Pension Plan.
A strong Goldman Sachs means a strong economy.
Debt is your new best friend.
etc etc etc.
Remember Eliot Spitzer – formal sheriff of Wall Street who got framed because he was too fanatical?
He’s mad at the fed too.
http://www.youtube.com/watch?v=gAtSmR7Z-Kg
Goldman wants all the subsides of a holding bank and the regulation of an investment bank
“Goldman then applied to the Federal Reserve for an exemption to the rules, saying that it takes time to alter a business model. The exemption was granted in February — and Goldman went on to take even greater risks”
http://tinyurl.com/lxklpe
There is to much worrying news on finance, climate change, droughts and the food supply to post here. But I thought maybe other people can find the analogy in below story I saw on tv..
Its about a violent drug trafficker that tricked two guys to first sail from Kreta to Venezuala, then to pick up many kilos of cocaine under threat while himself bailed back to brittain on a false pretext. The two guys waited 4 weeks for the drugs in which they could have easily fled. They got arrested and served 6 years in the most violent prison (prioners where allowed to carry knives, guns and granades). Afterwards the two guys where mainly regretfull about their misdeeds, afraid to be socially rejected, while the violent one was never arrested or heard from again.
Stupidity is for a large part inability to change course, where the more self steering take advantage of the more inert..
Never mind this tosh, what about my hair transplant?
Mike