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White House Petition Launched To Ban HFT Market Abuse
It appears five years of our constant denigration and a book by a world-famous and highly credible author has finally pushed "the people" to lobby for change on Wall Street...
Click image for link to petition
“At
some point in time the chickens are going to come home to roost on the
HFT game,” said one Goldman insider. “It’s a smart move for anyone to
become more diversified in their approach to the market.”
Of course, while in principle Zero Hedge supports the idea of crushing HFT - as we have been covering this market parasite for five years - at this point why bother?
It is not rocket surgery to realize that the only solution left to undo the broken, rigged, manipulated system western "capitalism" has become, is to let the HFTs cannibalize each other to death, and let the Fed send the Russell 2000 to 200,000 and then either let it all crash right back to zero or unleash hyperinflation.
There is no other solution.
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Can't wait to hear the reason from the WH, why they Can't do it!!
So much for "YES WE CAN"
The same reason for the market crash and consumate bailouts, "The market need liquidity!" The market needs liquidity like I need another wife...
Has Piers Morgan been deported yet? I seem to recall a petition about that, too.
No thank you.
I know the Tylers are all behind this but if the government DOES step in to ban HFT, you won't like the resutls. They'll fix one thing and break ten others, while leaving loop-holes in for their crony buddies. Just let exchanges like IEX (which I predict will proliferate rapidly from this point forward) compete for trades and sort it out that way.
DON'T ASK FOR GOVERNMENT INVOLVEMENT IN ANYTHING, ESPECIALLY WHEN THE WORD "BANNED" IS INVOLVED.
I know it feels good to crack heads with the "might of governement" sometimes, but don't do it. Doing this would be what's called and "unforced error". HFT is already on it's way out. We witnessed the beginning of it's demise yesterday, thanks to O'Brien at BATS. The creeping cancer of the government is not needed this time, so don't invite them in.
“It’s a smart move for anyone to become more diversified in their approach to the market.”
Translated: Find another way to cheat and steal the wealth of the middle class.
END THE FUCKING FED!
Let the markets collapse, or unleash hyperinflation..??
Really...??
That's your advice..??
Wow.,...
Let's continue to allow the theft of wealth from this once great country. Is that your advice? I'd prefer for the curtain to fail. But I guess some people are happy living safe and sound with papa Obama to tuck them in at night.
"Be careful what you sign. And to whom you give your documents. Give me six lines written by the most honest man in the world, and I will find enough in them to hang him."
Some French guy.
Never sign a petition. You could be signing your own death warrant or FEMA camp reservation.
You're scared of the unknown. Let it go. There was life before the Fed, there will be life after. Oh, and I'd bet my bottom silver dollar it will be much better. Much better.
For all you know, the Tylers might be in perfect agreement with your sentiment. Which I suspect is likely, given I cannot recall ever reading a Tyler written article on "government solutions."
They just reworded the article. A wise choice, I think.
You are absolutely correct, now that the tide is going against the club they want their hired hands to bungle it up with The Law or to codify HFT under the guise of solving the problem
IF the SEC would just zip-up and enforce the rules that are already in place...
It just ask for you email. I signed the petition.
Sign it!
Let us know if you get Obamacare spam.
Folksy folks don't like dat hi frequent trading shit. Why I told my wife, if I had a trader it'd look like a high frequent guy. Middle class folks hates 'em some high frequent trading.
Um-Amerikan.
Yes sir..............
-obama
Ladies and gentlemen I present to you the fall guy for the coming collapse, lets give a round of applause for HFT!
"It's those darn computers Mabel."
"Oh I just know the government will fix it Floyd."
"You're right dear, lets go and watch the Nightly News with Brian Williams."
BTW - that website is like the comment box that feeds into a shredder.
A greenie for 'comment box that feeds into a shredder'.
I wonder how much information is required to "sign in" ???
Sounds like a Plan!
I signed in. Basically a name, an email address and your zip code. Of course, I didn't falsify any of those. ;)
The NSA thanks you for your cooperation.
Another reason to LMFAO!
"Denigration" ????
RACIST
<sarc>
Yeah, that'll fix it...
OK.
Did it.
Now what? Wait a few years for CONgress to do nothing?
My faith is shaky
Well, at least you added your data to an important government list.
As well as supported the evil idea that fedgov is a legitimate entity of public control.
Dear Citizen,
Thank you for your recent e-mail supporting communists and trrrsss trying to overthrow the most honest and open government in the entire universe.
Your e-mail has been forwarded to the NSA for quality purposes.
We will be contacting you shortly.
Thank you.
The NSA.
( Note, if you are randomly choosen to recieve the NSA Customer Service survey, be sure to give us 4's and 5's. You're life may depend on it.)
The chickens are coming home to roost:
http://youtu.be/208t80uceSg
Oh, dats rayciss. Not him saying it, of course. You bringing it up.
Up arrow.
Well, if dem chickens gonna be headin' home to roost, we be habin fried chicken tonight!
How about end the Fed and fractional reserve banking, reinstate gold as settlement for international trade? Without all of those, they'll just find another scam.
You idealist! DC will simply cut off the end of a tenticle of the squid and a new head will generate in its place. Nothing to see here...move on!
You obviously haven't heard that there isn't enough gold for a "modern economy".
\sarc
unreal, these people define the word "ass clowns"...
ASS CLOWNS are two words.
The one word deifinition would be dipshit.
dipshit 1. A despised person; a moron; an ineffectual person; one with a habit of being wrong, loudly and often.Please, Obama, save us from those dirty wall streeters and banksters that bankrolled your election.....
"A whitehouse.gov account is required to sign Petitions."
No, thanks.
Exactly.
Sounds like an invitation to be spammed by ACORN.
Before signing up, just be sure to pack an overnight bag for yourself and leave it by the front door for easy access when getting dragged away to the gulag in the middle of the night.
Only sometimes. I said it before and I'll say it again. Though I've never created an account there or signed any petition, when the ban guns petition was up a year or so ago I clicked the link to read it. With no account there you should see highlighted "Sign In" or "Create an Account" buttons and a greyed out "Sign this Petition" button. But this time, those sign up buttons were greyed out and in place of what should have been the inactive Sign button was "You have already signed this petition." That was the day there were well over 100,000 "signatures" within hours. Be careful where you rubberneck online. Curiosity on my part meant consent on theirs.
Fair markets and trading nirvana in 3...2...1...2...
Oh, sure, Big O will get right on this. I highly doubt he even knows what HFT is. Besides, wouldn't killing HFT at this point basically crash the system? Isn't HFT "helping" to obfuscate trades so that endless levitation by the TBTF can continue until we reach the mythical "escape velocity"? Sure, beg .gov and the inept SEC to "do something"...whatever. It's a waste of time. The ponzi will continue, on schedule, until it collapses under its own weight.
Agreud.
Can we petition whitehouse.gov to ban the whitehouse?
You can petition anything you want..
Just don't expect Big Debt Brother O to give a shit.
Or ban banning. Maybe that would throw it into an error loop and crash.
Can we petition the WH/Potus to stop printing money?
This administration is a fucking really bad joke.
"There is no other solution...."
yes there is....
REAL MONEY/PHYSCIAL GOLD AND SILVER IN YOUR DAMN HANDS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
New criticism of UKIP's manifesto here:
http://www.youtube.com/playlist?list=PL53aYC86NvGCJD_F9_giqZiXOTlDu_dUQ
Hope this petition goes better then when we demanded to build a Death Start. Could have used that now against the Russians and HFT's.
HFT doesn't stand for Huge Fucking Titties? Wow, no wonder I have this all wrong.
(same as the SEC - ha ha ha).
NOW we'll see some things get fixed. I mean come on, even more people will sign this than tweeted "IstandWithUkraine##" last week.
/sarc off
HFT issue is suddenly popular because there are no muppets left to slaughter. Cannot dump overvalued momo stocks on HFT.
There is another way. Everyone sell float scams (momentum stocks, my personal choice is Scamazon) and use the proceeds to raise physical cash and gold -- buy some fraction of the gold in GLD terms, which I know people here hate. But, unlike futures, there is a legal limit to shorts in the GLD. We can break the racket that has been run for 5 years simply by using the bubble against them. Sell float scams, raise cash outside of banks (protects against deflation and bail ins) and buy gold/GLD (real assets and the fastest path to expose the manipulation of gold at a level that will catch the attention of ALL RETAIL INVESTORS who may not have the sophistication of the gold afficianados here).
https://petitions.whitehouse.gov/petition/impose-financial-transaction-tax-002-all-stock-002-bonds-and-005-fx-trades/bvXNnFWw
Ah, so the real hidden agenda comes to light.
The much vaunted financial tax to fund the UN that's been bandied about the last few years.
It was easy enough to fix in the first place.
Do not give them a time advantage.
Do not allow sub penny trades.
Do not pay them for orders.
Do not allow them to co locate.
Do not allow them to cancle orders for 2 seconds.
Every order placed must stand for at lease 2 seconds without cancelation.
Require they have sufficent Margin for all outstanding trades at any given time. This is extreemly important as if they are placing 300,000 trades per millisecond, more than likely they do not have sufficient margin to cover those trades at any given time. So restrict the amount of trades based on the amount of cash on the balance sheet of the company.
So easy.
That is our answer; easy distraction for the sheep in the bigger con game. Too bad this market didn't crash so maybe people would look at the Fed. Of course then we probably get the stupid "capitalism" run amok argument. The Fed and Keynesian economy must be protected /sarc.
I think the thing that bothers me the most is the the Big Bankers were bailed out by the Tax payers. Yet, we as ordinary citizens did not get anything for our huge losses when the Market went to almost nothing. We got the shaft.
Many people were not able to hold on and sold at the bottom to just preserve what they had left. No one gave us money at 0 percent from the Tax payers to buy more at the bottom so we could recover our losses.
We got hit two ways from our losses and from the taxes that will eventually have to be paid to give free money to the Bankers so they would not lose their shirt like we did.
I see the biggest problem is that most HFT firms do not have sufficient cash to cover all of their trades at any given time.
Isn't that what happenen to the trading firm that almost went bankrupt in one day?
Without sufficient cash to cover your trades then you are jeopardizing the entire market.
There should at least be Margin requirements were they can only have outstanding trades equal to say 50% of their cash open at one time.
Astounding politicization and grandstanding by the Obama White House. With this step, and so many others, its so obvious how
anti-private sector he is.
This particular problem, as yet largely undefined, can be easily fixed with proper enforcement of existing laws. Very likely it will be mis-defined intentionally by the White House.
More paving of the way for a bail-in via overstating of the situation.
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It is not rocket surgery to realize that the only solution left to undo the broken, rigged, manipulated system western "capitalism" has become, is to let the HFTs cannibalize each other to death, and let the Fed send the Russell 2000 to 200,000 and then either let it all crash right back to zero or unleash hyperinflation
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And I'll be here reading da 'Hedge, for their insights into the markets and where to invest my meager sheckles!
Keep up the excellent work, Durden! You were first on the HFT crapstorm!
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V-V