“Now listen to the first three aims of the corporatist movement in Germany, Italy and France during the 1920s. These were developed by the people who went on to become part of the Fascist experience:
- shift power directly to economic and social interest groups;
- push entrepreneurial initiative in areas normally reserved for public bodies;
- obliterate the boundaries between public and private interest — that is, challenge the very idea of the public interest.
This sounds like the official program of most contemporary Western governments.”
John Ralston Saul
A Tale of Two Markets: One for Wealthy Insiders, And Another For the Rest of Us
“We run carelessly to the precipice after we have put up a façade to prevent ourselves from seeing it.”
Blaise Pascal
Here is a brief excerpt from an article today by the amazing team of Pam and Russ Martens at Wall Street On Parade titled, Are U.S. Markets Liquid and Deep or Rigged and Broken? I suggest you read the entire article when you have the opportunity as this is just a snippet.
“…the SEC which oversees stock exchanges has allowed both the New York Stock Exchange and Nasdaq to create a bifurcated market. The unsophisticated investor is given trading data on which to base trading decisions on a slow data feed called the Securities Information Processor or SIP. The SIP is not only slow in getting the data to the technology-challenged investor, but it has limited data.
For the rich and powerful on Wall Street who can afford massive fees, there is another data feed offered by the exchanges called the Direct Feed. The Direct Feed data, which has far more useful information, arrives in the hands of High Frequency Traders and Wall Street’s proprietary traders ahead of the arrival of the SIP data. This allows the Direct Feed users to buy a stock on the cheap and sell the stock back to the SIP user at a higher price…
The New York Stock Exchange and Nasdaq, which also have a mandated regulatory role to ensure that their markets are fair and non-discriminatory, have allowed the two-tiered market to exist because they are collecting hundreds of millions of dollars a year selling the SIP to the dumb money and the Direct Feed to the smart money…”
For someone that is not drinking the daily dose of electronic kool aid from the mainstream media, this is a systemic, institutionalized control fraud that inevitably leads to a financial crisis. And a close survey of the markets today might lead one to observe, ‘My God. These lunatics are going to do it again.’
That is what it is in plain words. That is what the price discovery of the US, which controls the reserve currency of the world and sets many of its key prices, is based upon. This is not some rogue trader, or anomalous abuse. This is fraud that is deeply woven into the very fabric of the system, and is widely tolerated with a self-serving wink and a nod.
For example, the privately held London Metals Exchange was dismissed as a defendant in the aluminum price fixing case today because it is immune from US prosecution as ‘an organ of the UK government.’ That is quite an admission, and some organ. Droit du seigneur. Reminds one of the motive for dismissal insinuated by the Barrick motion in the Blanchard gold manipulation suit.
What is it going to take to wake people up? What markets are left that have not been exposed as deeply rigged at their core?
A big part of the rest of the world isn’t buying it anymore. And that is taking us into some very deep, dark, and uncharted waters.
Posted by Jesse
I just watched a French film the other night called “Capital” by Costa-Gavras and it put a very nice spin on the 1% and the root of their greed.
Worth watching.
Certainly we need to increase the monetary supply for economic growth…your kids getting a job. But this, this is just usury, money making money. Treasury, ZRP, paper trading for paper.
WCPGWWT?
“We had to struggle with the old enemies of peace: business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering. They had begun to consider the Government of the United States as a mere appendage to their own affairs. We know now that Government by organized money is just as dangerous as Government by organized mob.”
Franklin D Roosevelt