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Wall Street Code Released
VPRO Backlight has just released the documentary we did with them earlier this year. Wall Street Code is about the blatant and planned fixing of, specifically, the US financial markets. After meeting with Haim Bodek and being introduced by him to the guys at Sang Lucci, we decided to ban together and contact Marije. The following is a culmination of that initial meeting and the specials skills possessed by the journalists at VPRO. @DirtyAutomatik aka Bryan Wiener who was Haim Bodek's head trader and makes a special appearance worth noting. Look for Bryan to join me over on BTFDtv.com on this coming Sunday to talk special order types and order book manipulation.
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of course the market is rigged. We should just be thankful that Our wall st overlords allow us to contribute this small guaranteed fee to them in order to maybe build a retirement fund. Those who work hard or pay more for better access should be compensated favorably. That is what makes a market. Insiders should be worshipped rather than punished. Fairness is relative. /sarc
such an excellent video... i sent it to several people
Meanwhile,
The energy distribution network - think ConEd.
Continues to degrade.
The "powers that be" will tell you its being upgraded and improved, but thats bullshit. Its just bandaids.
Imagine whats coming; not a question of if, its when. Another great east coast blackout, where nine months after its occurance, there is a baby boom in births! To replace the traders that jump! So much for quants.
VPRO does excellent work when it comes to investigative financial journalism - and I do mean excellent work.
As they said in the video, the exchanges love the volume these HFTs bring, but then again they're not really in the market either. They skim money from market participants just like the HFTs. Stealing is not market-making. And if the SEC or any other regulator has not put a stop to it, you can bet the profits, bribes, and revolving door possibilities are so great they won't do a damn thing about it. As the poster above said, it's market killing not market making.
A sad mis-allocation of human capital.
Great video, thank you for educating us about dark pools and Hft quanting and the insider bubble of WS shenanigans with is awesome INFRASTRUCTURE support showing that the SYSTEM is totally complice in this elitist deviation.
The rule makers of WS and their Congressional friends have to be party to the blue print, which OSTENSIBLY 90% of the financial community is alleged to NOT UNDERSTAND. Well not every body can be part of 1% !
That's the AIM of the pryamid builders. What this video does not address is the INCEPTION of the scheme, the teaching, the structuring of the SYstem to build the quant base in top schools around the world; by the architects of "fast track finance", all spewd in the shadow banking of Reaganista deregulation and Maggie City farm. Those guys knew HOW to build the race track for the high 'formula one' fliers! "Our new best and brightest BUSINESS MODEL".
Just like it is for its counter part in that other scam the NSA information pyramid built on similar Internet technology Hijacking.
You have to be in the INNER circle of power to be party to these blue prints and subsequent plays; whether they be MIC/NSA, WS/SQUID and HFT, OIL Lobby and ME, Agribusiness, GMO food chain etc. etc. etc.
All elitist clubs of Pax Americana's unassailable hubristic mantra. We are UNATTAINABLE on Mount Olympus!
Many issues come to mind :
1° Value Systems : The father belonged to the illuminati community, the nuclear bomb generation, believing they were doing Humanity a service. Maybe, Oppenhiemer's toy did stop major wars but it fueled the MIC crap show in regional wars; aka Nam, Irak, Pak/afgh, Libya, Syria; just to mention where the CIA has made its mark.
The son works for improving financial capitalism and gets involved in the biggest sheist to milk the market and Pension and Mutual funds on the quiet. And we see where this has gotten us : the end of US capitalism model.
It took that guy Boden to lose his firm thru unfair queue jumping to wake up and that other guy the 2010 flash crash for the click button to operate in his head. Reality wake up calls always have a price and a bitter spice.
Quant wars and MIC wars are signs of the same corruption; a civilization estranged from the essential; simple rules of ethics and general good. We never learn is the sad conclusion.
2° Regulation and Monopoly markets.
This whole video shows us how the auto regulating market is a myth in HUMAN constructs. No such thing as EFFICIENT MONOPOLY SYSTEMS. Why be efficient when you can change the rules for yourself. That is the ULTIMATE form of efficiency; having a tilted table to play on!
Thats what kings did, build monopolies based on faith confiscation : divine rights; can't argue with that, its God's will!
In a Republic which is a bottom up construct run by an elected elite to serve the base, the regulation should be on a basis of general interest. It never is 'cos Oligarchies are the expression of induced Entropy dissemination hidden under the garb of law and order. This is not normal decay that the base can see, this is FORCED fed decay that is hidden to their eyes.
When your Mindset is to allow the SECRET code to RUN the OVERT legal code you are indeed in deep shit, as the average citizen can't tell crap from shine hole until its too late and the damage is done to society.
This video is an awesome manifestation of both principles : Debased value systems and debased regulation as IMPOSED in manufactured, occulted systems, all from behind the curtain; with the complicity of law maker and law sayer!
HFT = Black swan production machine
another reason not to use stop losses.
stop gains are very useful however - these algos swing and a stop gain will get you picked off nicely before reverting back to the mean
This excellent piece was the most depressing I have seen in a LONG time.
Zero losing days?
Crane the banksters, sack the administration, fork the regulators, because there is nothing honest left in what they do - only gaming and propaganda.
So when these superfast computers go haywire and hit bids down to zero ......all trades get broken further hurting the small investor ......this system is far beyond being broken .
They stare at a single tree all day, eating little bugs off of it, ignoring the forest in flames. Just another way Wall Street is always taken by surprise in the midst of a myopic scheme. Enjoy being the last blind, deaf, anteater eating your tree bugs while they last, Wall Street. Someone will eat your perfectly cooked carcass later on.
Al Gore didn't invent the internet, he invented the algorithm.
".....don't be short on a Tuesday"
How true.
HFT = killer of "free" markets.
solution: for every bid, you can't cancel before X seconds. for every ask, you can't cancel before X seconds. For every Buy, you can't sell before X seconds. What should X be? 1, 5, 10s?
CRAZY!!! One day this stuff will bring us all down. See KARL DENNINGER STOCK PICKS here:
https://www.youtube.com/watch?v=XqWIS0O2gIk
CRAZY!!! One day this stuff will bring us all down. See KARL DENNINGER STOCK PICKS here:
https://www.youtube.com/watch?v=XqWIS0O2gIk
The MO of the Global Economic and Financial Control Matrix revealed!
```
http://cosmicconvergence.org/?p=1987
let's do the time warp again.
it's just a jump to the left ...
and then a step to the right ...
put your hands on your hips ..." ..
.
esf.
what did he say? "it is just a few lines of code."
http://www.zerohedge.com/news/presenting-exchange-stabilization-fund-5-p...
Presenting The Exchange Stabilization Fund In 5 Parts: Is This The Real "Plunge Protection Team"?
Tyler Durden's pictureSubmitted by Tyler Durden on 01/01/2012
Bay of Pigs
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Reading through the comments there. What ever happened to ekm, Gully Foyle, Precious, Trav7777, HighPlainsDrifter, etc....?
Sure seems a lot of old timers have packed it in around here the last year or two.
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It's over BOP. I have no idea why i am around at this point. It's an empty echo chamber. There's a few people I have a soft spot for on here. I would like to know where the oldtimers have moved on to. Or if they just sit there with a beer and watch a ballgame now. Knowing they were right but somehow time stood still.
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blindman's 1
Vote down! why bother? hmmmmm..
0
comment blogging is thankless and not for the faint of heart!
you have to be crazy to sustain the focus over time, that is
all i can figure. and i-dog ! and then who knows, we don't
live forever, right?
maybe they are starting the revolution in their
families and communities, setting the foundation
stones or deconstructing the illusions?
editreply
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GottaBKiddn's
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The part I don't get is when Bodek says that he doesn't think that he's up against the mafia. Really?
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Ignorance is Bliss - Scene from the Matrix
http://www.youtube.com/watch?v=l5y68ErffgM
.
"..you know, someone important, like an actor." ...
"whatever you want mr ..." agent smith
editreply
thewayitis's
All about GREED.....Move along
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Time Warp - Rocky Horror Picture Show
http://www.youtube.com/watch?v=Rtkdo7bOmJc
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whatever anyway ....
mixes.
BM,
re: oldtimers...
you're not implying they "fated" at the hands of the thousand-cutters?
Good job posting new quants flick. Education is the key ingredient to help others along the path.
Thanks for sharing this video. Very interesting subject. The was well made.
Superlative piece of work.
Dave Lauer @ 47:01... "I don't think anyone understands what's going on."
Cannot be overstated enough. The system is completely, totally, irretrievably broken.
For sure, Dr. Bonzo! After watching that documentary through, my favourite moment was at the 47 minute mark!
An excellent piece of work. Not many understand why it is significant. Complex systems and fragility. They really don't understand it all. Epic crash coming. Bodek knew more than most and had two firms go down in front of him. Are we fooked or what? It makes those monkeys on CNBC seem even more cartoonish.
Interesting, and yet irrelevant. Who cares about the companies scalping partial pennies when the entire game is a completely rigged crooked casino. There is no free market. When a few collaborating players bring the vast majority oif the liquidity and ALL bids and offers are set by the market making firms, nothing else matters.
My Italian 75 yr old friend tells me his story about his father who paid off his land debts in Italy with a chicken he raised in the US. He sold the chicken and paid the debt.
Where the fuck do you think we are headed? Money is worthless. You can't eat a Bentley but if you're nice, I may let you have some of my farm's products one day soon in exchange for the Bentley.
We are this close to a complete and total meltdown. It's palpable.
Repeat. Money is worthless. Spend it while you can.
While I take your point, the chicken story doesn't add up. How much was the land debt? How much was that chicken worth?
Does seem very iffy.
Chicken raised in the US, boat trip back to Italy with said bird - which musta costa bit ... maybe it was a golden chook, to have paid for transport AND land debt.
Maybe the old guy is romancing and likes telling tall stories?, or is sliding into dementia
He's a bit senile but he's still got it together for the most part. Maybe it wasn't a land debt as in a debt to pay for land. Maybe he had leased the land from his cousin, couldn't pay the cousin at the time and few years and money devaluations later, he was able to pay the debt with the proceeds from the sale of a chicken in the US and telegraphed the money back to Italy. The US Dollar was once a pretty mighty sign of wealth.
After WW1 (and again after WW2) European currencies were devalued badly compared to "hard currency" like the US dollar. Many young writers and artists took advantage of this, they could live in France or Italy for 1/5 or 1/10 what it cost to live in New York.
Also, peasants in Italy were very poor especially in the south, compared to the US. That is why so many came to America.
I can see that a debt could be very worrysome, and impossible to pay back for someone working for a few cents a day in Italy but the same debt could be paid back for a few US dollars. Might be an exaggeration to say one chicken but perhaps a small flock of chickens.
Wow. Plug it into the big screen... and thank for the links above, Rad.
I have only watched the first 5 minutes of that 50 minute documentary, so far, but it obviously looks like a great one, and immediately rang some old bells I mention below, since that video reminded me of this article:
http://www.zerohedge.com/news/when-it-all-goes-bidless-what-losing-1-bil...
Many old science fiction stories were based on the idea that the military would develop computers that took humans out of the loop. However, it has turned out that the money system was automated, and took humans out of the loop, before the military system did! Those are combined money/murder systems: global electronic fiat money frauds, backed up by the threat of atomic weapons, all of which are astronomically amplified by many orders of magnitude.
My little summary, off the cuff, of how this happened ... In the 1980s the first computer program was made to vacuum up nickles and dimes all over the world, and that made billions of dollars, until the collapse of the Soviet Union spun that program out of control, and it lost some billions ... So then, back to the drawing board: the biggest banks have been hiring all of the brightest mathematicians, and computer experts, to improve their machines' high frequency trading. Some legal regulations had to be gotten out of the way, for those systems to really take off, or at least, the threat of any actual enforcement of those rules had to be diminished to practically zero, until these computers could really start to fight each other. It is like some Star Wars metaphor, except the knights in shining armour, with light swords, doing battle, are the HFT computers. One has to stretch the metaphors to try to imagine what is going on! Electrified beasts are doing battle, like a video game, EXCEPT, the price of food and fuel for everyone depends on the outcomes of their battles! After the mathematical computing powers were advanced enough, and the pesky limits of laws, or of the actual potential enforcement of the laws were gotten rid of, then the automatic, computer controlled, high frequency trading has been developing at an exponential rate.
There are lots of good charts that demonstrate how that picked up speed, e.g.:
http://www.nanex.net/aqck/2804.HTML
Also referred to in many other Zero Hedge articles as "Chart of the day HFT edition" ... which shows us the system, in real time, during the last five or so years, leaving human beings behind in the dust! No human being can possibly keep up with the news of the day! But nevertheless, the price of their food, and fuel, and practically everything else, is more and more being controlled by computers trading with each other!
Another basic science fiction theme was that these computers are being fed psychotic instructions, because they are arising in a psychotic systems, based on lies, backed by violence, that refuses admit that, and certainly can not escape by being able to jump up any levels, and laugh at themselves, through understanding their own absurdities, at a higher levels of consciousness. As in HAL in the 2001 Space Odyssey movie, these computers are the ultimate expression of GI/GO, garbage in, garbage out! The old-fashioned fraud and force systems are being pumped up many orders of magnitude ... (I used to say billions, then I had to start saying trillions, and recently, I started saying quadrillions of times!) Fraud and force, dishonesty and violence, running organized systems of lies and robbery, have been turned over to automated electronic systems, which are backed up by weapons of mass destruction. However, in our Bizarro Mirror World, it was NOT the computers controlling the weapons of mass destruction, the hardware of the murder systems, that took over first, but rather, the computers controlling the software, in the money systems, have taken over first. Still, those basic science fiction ideas are becoming facts, faster than anyone, including me, imagined was possible!
MEANWHILE, THINGS ARE SO BAD THAT MAINSTREAM PUNDITS & POLITICIANS WERE STARTING TO ADMIT THAT FACT:
http://www.zerohedge.com/news/santelli-liquidity-and-more-central-bank-counterfeiting
"Quantitative Easing" is runaway counterfeiting! Making markets more "efficient," and thus adding more "liquidity," amounted to automating frauds! Even an institution as deeply mainstream as Dallas FED has been stating things with a surprising truth to it! Of course, this has grossly understated what was really wrong, and naively presumes we may go backwards to good old days.
http://www.zerohedge.com/news/flashing-warning-unintended-consequences-ultra-easy-monetary-policy-fed
http://www.scribd.com/doc/104109398/Dallas-Fed-QE
... None of these unintended consequences is desirable. Since monetary policy is not “a free lunch”, governments must therefore use much more vigorously the policy levers they still control to support strong, sustainable and balanced growth at the global level. ...
It is quite utterly absurd to talk about endless, "strong, sustainable and balanced growth!" There must be death controls, and that is the main "policy lever" that governments actually used, but that is the one which they deny and refused to admit that they used by privatizing that! This is the deeper problem that made it impossible to have any saner solutions to economic problems, namely, the established systems deliberately denied and suppressed debate about their own real ecologies (WHICH IS WHAT THIS DOCUMENTARY ABOVE BEGINS BY MENTIONING!)
... None of these unintended consequences is desirable. Since monetary policy is not “a free lunch”, governments must therefore use much more vigorously the policy levers they still control to support strong, sustainable and balanced growth at the global level. ...
It is quite utterly absurd to talk about endless, "strong, sustainable and balanced growth!"
++++++++++++
You are correct that there is no perpetual economic expansion. Strong does not fit with sustainable and balanced. Booms are strong and always end in a bust, as they destroy balance and are thus not sustainable.
Amen bro. Got out of the markets completely in '08... then when I saw the HFT's were being employed in the PM futures markets bailed out of those too. Gone to all physical and waiting for this whole Frankensteinen monster to implode.
Long ago in 1920 a german name Oswald Sprengler wrote a two volume set called 'decline of the west', about how all 'mercantile' civilizations for 1,000's of years have failed, ... always for the same reason.
Just ordinary death your watching, and NONE NADA ever come back, hell even Marc Faber writes that, taken right the works of Sprengler, and note Sprengler was a mathematician, he was just stating what was logically obvious, but he did so with a historical treatise that looked at all civilizations in the history of mankind.
They go down and they never come back, once the 'money' is worthless the food quits flowing and folks DIE or MOVE-ON.
Well, carlin401, it is not so much an "ordinary death" to the degree that it is your own that you are watching!
whoops