Use the Patriot Act on the bankers
Financial terrorism has arrived on our shores. As our dear leaders have explained, terrorism warrants “enhanced” law enforcement. Max Keiser and David DeGraw expose the financial terrorists in our midst.
If you think the massive sudden drop happened because one lowly trader hit one wrong button, if you actually believe that the entire stock market can plunge because of one mistaken key stroke by a low level trader, you are stunningly naïve. I hate to burst your bubble, but this was a direct attack.
In a market where 70% of all trades are executed by computer algorithms via High Frequency Trading (HFT), Goldman Sachs has the power to make the market crash or rise at will. In fact, Goldman has a major Weapon of Mass Destruction in its Program Trading monopoly of the New York Stock Exchange, as Tyler Durden described on Zero Hedge:
Goldman’s dominance of the NYSE’s Program Trading platform, where in addition to recent entrant GETCO, it has been to date an explicit monopolist of the so-called Supplementary Liquidity Provider program, a role which affords the company greater liquidity rebates for, well providing liquidity, and generating who knows what other possible front market-looking, flow-prop integration benefits. Yesterday [5/6/10], Goldman’s SLP function was non-existent. One wonders – was the Goldman SLP team in fact liquidity taking, or to put it bluntly, among the main reasons for the market collapse….
… here is the most recently disclosed NYSE program trading data….
What is notable here is that of the 1.4 billion in principal shares, or shares traded for the firm’s own account, Goldman was the top trader by a margin of over 100% compared to the second biggest program trader.
We have long claimed that Goldman is the de facto monopolist of the NYSE’s program trading platform. As such, it is certainly the case that Goldman was instrumental in either a) precipitating yesterday’s crash or b) not providing the critical liquidity which it is required to do, when the time came. There are no other options.
This is an open conspiracy, folks. The oil, metals, and stock markets are captured. There is very little free market left. All is monopoly and fraud. Or maybe, it’s all just coincidence. Not.
Amped Content goes on to note that coincidentally the day after the crash, the “break up the too big to fail banks” amendment was soundly defeated by a 61 to 33 margin in Senate. And, a deal was struck to eliminate key provisions from the audit of the Federal Reserve bill. And, Goldman was meeting with the SEC to work out a settlement in their case against them.
An act of premeditated sabotage. Theater level economic subversion. That means the Patriot Act applies to the bankers.
It’s time to arrest without charge all senior banking executives suspected of involvement. No habeas corpus, just waterboarding and stress positions and “coercive confinement.” We must make them give up their terrorist comrades.
There might be another financial time bomb. Think of the children, people.
(h/t Max Keiser)
