Register for Free
Post comments, receive updates via email, gain access to exclusive content, and more.
Spam Safe!
QE3 and Why US Taxpayers are Now Supporting Europe
I have never thought I would see such market manipulation. The economic news is getting worse yet the US stock market goes up. This makes no sense unless the Central Bankers and Friends are at work proping up the stock markets until QE3 can be announced which looks assured now.
We must also thank our government for taking taxpayer money and giving it indirectly to the deadbeat Greeks. Isn't this taxation without representation?
Print
The economic news is getting worse yet the US stock market goes up.
With all the bad news last week in Europe there is no way that 'market forces' pushed the stock market higher.
It would be interesting fifty years from now to look back and find out what was really going on.
"Even if we are occupied with important things and even if we attain honor or fall into misfortune, still let us remember how good it once was here, when we were all together, united by a good and kind feeling which made us perhaps better than we are." - Fyodor Dostovevsky
We have in effect, one-world government. Remember he who controls the money, controls the economic/political world. Welcome to worldwide
socialism!
Ripley
wrbreihan, You are right. The central banks of the world are one big government. He who has the money has the power. I was growing concerned about the world economy, so I liquidated a good bit of my mother's stocks, except oil, on Monday. The market has just kept going. I felt like I looked like an idiot. It's hard enough investing as it is, but with central banks manipulating everything what can you do? Ernest
http://www.zerohedge.com/news/finra-drow...
Whether it is due to the general investing public finally realizing that the market is neither fair nor efficient, that the scales are tipped against the common man from the moment the 'Buy' (or, more rarely, 'Short') button is pressed, or that as the past two years have shown the market is dominated by insider trading, "expert networks" and big legacy investors surviving only due to the government's intervention on their behalf at critical times, is unknown, but Finra is now officially and finally drowning in a barrage of complaints about market manipulation. And to be sure such glaring reminders as 30 year-old UBS traders being singlehandedly responsible (of course, nobody noticed anything over the months and months of creeping illegal trades) for massive cumulative losses that amount to more than the entire net income for the bank (an odd and convenient scapegoat that), will surely not make Finra's life any easier. As Reuters reports: "A Wall Street regulator said industry complaints about market manipulation and trade reporting have spiked this year, raising questions about the adequacy of banks' internal controls over their traders. FINRA has received complaints this year about banks' audit systems, canceled orders, and brokers misrepresenting whether orders were on behalf of customers. "These are areas that for a long time we were not receiving complaints in, and all of a sudden this past year it's really spiked up," DeMaio, senior vice president in FINRA's market regulation unit, told a FIA options industry conference." That's great: so US investors can sleep soundly knowing full well fiascoes such as UBS' Delta One implosion will be confined to the UK (where, incidentally, the director of market at the local regulator, FSA, just resigned - it is unclear if he will follow a recent previous FSA departure straight into the willing clutches of such a non-market manipulative entity as JP Morgan), and that manipulation is being rooted out in the US at its core at a brisk pace.
"Even if we are occupied with important things and even if we attain honor or fall into misfortune, still let us remember how good it once was here, when we were all together, united by a good and kind feeling which made us perhaps better than we are." - Fyodor Dostovevsky
"Show some !@#$%^ ADAPTABILITY!!" -- Sergeant Jack Shaftoe, USMC ("Cryptonomicon")
"It's all goin' *down*, man! Martha Stewart's polishing the brass on the Titanic!" -- Tyler Durden
"Have the courage to use your own understanding!' -- Immanuel Kant
"Dreams are the seedbed of the possible." -- William Greider
"One day you finally knew what you had to do, and began, though the voices around you kept shouting their bad advice." -- Mary Oliver