"Panicked" Citi Trader "Who Fired Off Repeated Sell Orders" Behind Pound Flash Crash

A probe into October’s sterling "flash crash" has focused on the Japanese trading operations of Citigroup, which fired off repeated sell orders that exacerbated the pound’s fall. One of the US bank’s traders "panicked" and placed multiple sell orders when the currency slumped in unusually fragile market conditions.

JPMorgan, HSBC, Credit Agricole "Bank Cartel" Fined $521 Million For Euribor Rigging

The European Commission has fined Crédit Agricole, HSBC and JPMorgan Chase, a total of €485m for participating in a cartel concerning the pricing of interest rate derivatives denominated in euros. “The aim of the cartel was to distort” Euribor, said EU competition policy chief Vestager. The traders involved "tried to submit quotes to move the Euribor rate up or down."

Longest Winning Streak For Global Stocks Since September On Monte Paschi Bailout Hopes, ECB Optimism

Global stocks extended the longest winning streak since September, with Asia up 0.8% and Europe rising 0.7% while bonds and credit markets strengthened amid hopes that the European Central Bank will prolong quantitative easing, while optimism an Italian bailout of Monte Paschi will prevent European bank contagion, has pushed European financial stocks higher. US equity futures were little changed.

Trump About To Preside Over New Global Financial Crisis: "Not His Fault, Merely His Misfortune"

"A new global financial panic will be one legacy of the Trump administration. It won’t be Trump’s fault, merely his misfortune... Since 2008, the largest banks in the world are larger in terms of gross assets, share of total deposits, and notional value of derivatives. Everything that was too-big-to-fail in 2008 is bigger and exponentially more dangerous today."

Virginia Schools Ban 'To Kill A Mockingbird,' 'Huck Finn' Over Racial Slurs

A Virginia school has temporarily banned "The Adventures of Huckleberry Finn" by Mark Twain and "To Kill A Mockingbird" by Harper Lee,after a parent complained that her high school-age son was negatively impacted by racial slurs contained in the books. The solution, she proffered, was that a group of parents/teachers with diverse cultural backgrounds determine a list of books that are inclusive for all students.

Trump’s Shot Across China’s Bow

"Trump’s purely symbolic shot across the bow, as an answer to all of China’s more-or-less purely symbolic boundary pushing in the Western Pacific, should, in fact, actually help the Chinese stay out of trouble, by putting them on notice that actions do have consequences, that there actually are costs to trying to repeatedly pin a clown nose on the sheriff."

Power To The People: John Lennon's Legacy Lives On

All of the many complaints we have about government today - surveillance, militarism, corruption, harassment, SWAT team raids, political persecution, spying, overcriminalization, etc. - were present in Lennon’s day and formed the basis of his call for social justice, peace and a populist revolution. Little wonder, then, that the U.S. government saw him as enemy number one.

The Biggest Gold Heist Of All Time

...When the pirates arrived, they robbed the island of 100 talents of gold (worth just shy of $100 million today), an unfathomable sum at the time...It’s amazing that thousands of years have passed, and yet that very same gold could still be traded in modern financial markets.

Our "Gaslight" Financial System

Perhaps the ultimate gaslighting in human history is our current fiat money creation system that benefits the few at the expense of the many.

Colorado "Hamilton Electors" Sue To Block Trump, Void Vote Mandate

Just a day after a Texas Republican "faithless elector" explained why he will not cast his vote for Donald Trump, The Denver Post reports two Democratic Colorado electors are filing suit challenging a state law requiring them to vote for the winner of the state’s popular vote. Their hope is to set a precedent enabling Republican electors in other states to vote for a third-party candidate to keep Trump from receiving 270 electoral votes.