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28 Ways 'They' Rig The Market
Rigged - Financial Word of the Year
What do people mean when they say the Stock Market is rigged? Below is a definition along with many examples that would lead reasonable people to conclude that the market is rigged.
Definition
Rig
rigged, past tense of rig
1. Used to describe situations where unfair advantages are given to one side of a conflict.
2. Describes the side of a conflict that holds an unfair advantage.
Use in a Sentence
Despite costing taxpayers billions of dollars during the financial crisis, Wall Street decided to change nothing about the rigged market. In fact, Wall Street is known to have rigged the equity market, FX market, Libor, and the Commodities market since the financial crisis.
Examples
- To falsely represent that a trading algorithm is capable of making decisions based on real time information.
- To falsely represent that profiling of certain participants leads to the protection of investor orders on a particular venue.
- To falsely represent that a broker’s router is unbiased in its treatment of all trading venues.
- To falsely represent the extent to which an investor interacts with a type of market participant.
- To falsely represent that certain participants have been removed from a venue.
- To falsely represent the functionality of a venue to investors.
- To knowingly allow select participants to enter orders on a venue in a manner that is in direct violation of US regulation.
- To willfully ignore the possibility of a broker achieving a better execution outcome for an investor.
- To willfully obstruct the quality of executions on a venue in a manner intended to improve the relative appearance of a brokers own venue.
- To willfully send an order(s) to a venue(s) in a manner that would reasonably inhibit the probability of executing an order on a venue.
- To willfully route investor orders to an offshore affiliate for the purposes of allowing the offshore affiliate to generate a profit via mark-up or mark-down.
- To willfully route investor orders to an affiliate entity for the purposes of providing that affiliate entity with an opportunity to profit ahead of the execution of that investor order.
- To willfully provide knowledge of unexecuted trading interest on a given venue to an independent routing facility of an affiliate or partner in a manner that gives that affiliate or partner an advantage over other participants.
- To willfully notify a select group of participants of the unexecuted interest of an investor order in a manner that could be reasonably expected to negatively affect the economic outcome for that investor.
- To willfully send investor orders to an intermediary, ahead of any interaction with other natural investors, and in a manner that could be reasonably expected to result in an inferior economic outcome relative to interaction with other natural investors.
- To willfully send orders to a venue(s) for the purposes of achieving an economic benefit to a broker in a manner that could reasonably be expected to be detrimental to the economic outcome of an investor.
- To willfully manipulate the opening or closing price of security.
- To willfully allow the manipulation of the opening or closing price of one or more securities for a period of time in a manner where any reasonable person familiar with the arts would have identified that pattern of manipulation.
- To willfully allow a 3rd party participant to utilize a function designed for use by a specific type of market participant on a venue; but is otherwise resold by that market participant to a 3rd party in a manner that provides that 3rd party an improved queue position on an exchange.
- To willfully disseminate market data from a venue to a select group of participants at transmission speeds that could be reasonably expected to allow those participants to effect executions on the venue at outdated prices.
- To willfully provide trading access to domestic or overseas participants without the provision of risk safeguards required to be in accordance with US regulation.
- To willfully obfuscate the manner in which order types work in a regulatory filing while concurrently providing select participants a more comprehensive understanding of the functionality.
- To willfully misrepresent the concentration of a select group of participants on a publicly traded exchange in an attempt to mislead investors from the potential revenue at risk as a result of any regulatory change affecting those participants.
- To willfully provide a select group of participants with characteristics of investor order flow that would increase the probability of those participants interacting with a type of investor order in a manner where those participants would be expected to profit from that information.
- To obstruct an investigation or expected investigation through the destruction of data that is otherwise required to be archived in accordance with the oversight and regulation of a trading venue.
- To unreasonably prohibit certain participants from understanding or utilizing functionality on a venue that is otherwise available to select participants.
- To purposefully expunge source code in a manner that would obstruct an investigation or an expected investigation into manipulative trading practices.
- To willfully allow orders to be exclusively routed to intermediaries or to venues that cater to intermediaries while acting as a fiduciary.
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Many still believe in the myth of the free market. They have an ideal situation in mind where everyone will be free from the state suppression and the free market will drive societies and individuals to balance and prosperity. It's just an illusion because in reality the game is more rigged than ever. We are not talking about capitalism, not even neoliberalism. We are talking about the new global, brutal feudalism!
I Hate fucking cheaters....
Assholes!
Boom! Headshot!
Methinks one of the "loopholes" with respect to enforcement (Aside from Campaign Contributions and the Revolving Door, a.k.a. Completely Corrupt) is that the regulations as I remember them, are written such that all these things are illegal for a person to do, but not a machine.
Now, that begs a one sentence global fix to the regs stating unequivocally that the words persons and agents, etc., applies equally to machines, algos, etc., , but that ain't gonna happen any more than a full audit of every single last FED action as per swaps, loans, purchases, sales, etc.
Duh....
Hunsader needs to be careful.
Snitches Get Stitches (or Nailguns).
Technically speaking, no machine can perform actions not designed by a human and so, by extension, the machine's actions are really the human's actions.
That guillotine ain't gonna drop itself.
So what's the difference between this sort of cheating and say Corzine or Madoff?
that's about the size of it... but back in the day... the kings were not that powerful, were clear targets for revolution and were not instantly replaceable...
now we have this rotating magic trick of leaders, that all carry on the kings work, screw the people and then dance out of reach, while apparently the people decide on the next leader, who does the exact same thing...
Start working at home with Google ! Its by-far the best mixed bag of goods I've had. Last Thursday I got a trademark new Bmw since getting a check for $6474 this - 4 weeks past. I began this 8-months ago and immediately was coming with house at least $77 per hour. I work through this connection, go.to tech marker for work detail.... www.globe-report.com
Were boned.
up the ass...
29) To call it a market.
Sounds legit.
I swear to gawd, when I finally get my hands on "THEY"--
The "Ubiquitious Them". They're everywhere!
They are everywhere.
Jamie D and Lloyd B don't spend their weekends writing code for customer order routing, their nights rolling changes onto production servers, and their weekdays reading Reg NMS and the technical circulars from the Exchanges in order to dream this stuff up, much less write the legal and compliance reviews, and coordinate internally across departments so that their own traders don't get skimmed like their customers.
--
There are THOUSANDS of "THEM" across the large financial institutions.
--
I was always bothered by those "HFT for Dummies" videos Tyler used to post with ostensibly smart and experienced math nerds/bankers saying "Who knew? Nobody knew WTF was going on..." Millionaire math PhDs playing the part of 12th man on the deal team.
Central bankers scrapped the "cheaters never win" saying.
How to rig a market?
PRINT.
How to rig a market - involve the politicians.
It means they win, you lose. All you need to know.
Fuck you Bernanke
In the mouth.
Rigged is the new rich
"We Rigged some Folks."
-Criminal Fraud UNITED STATES, CORP. INC. CEO Obama.
it's a casino, not a market
It's worse than a casino.
At least, in a casino, the rules don't suddenly change when the roulette wheel stops and the ball finds its resting place.
When everything is rigged, it's not even a casino.
Trivia question for the day: How many times has a Federal Reserve Bank vault been broken into?
Every game is rigged in any casino so that the House has the inherent advantage.
(There are some rare exceptions to the rule. The clever gambler will seek them out and exploit them, Full Pay Video Poker being one. But that is ADVERTISED with Large Signs over the machines and they are used as Loss Leaders. However other plays do exist..)
If you do not know that then you do not belong in a casino.
30) Nanex Flash Crash Summary Report
Publication Date: September 27, 2010
http://www.nanex.net/FlashCrashFinal/FlashCrashSummary_I.html
31) Purchase google backlinks to harvest panic. Wallstreet, fire in the hole.
Pretty soon it's going to turn into 50 ways to lose your lover / money. Just remember,
"Do you hear the people sing
Lost in the valley of the night?
It is the music of the people
Who are climbing to the light."
Do you hear the people sing?
Singing a song of angry men?
It is the music of the people
Who will not be slaves again!
When the beating of your heart
Echoes the beating of the drums
There is life about to start
When tomorrow comes!
To be fair, they need to repay their victims all of the money they have stolen through cheating ... with interest.
My guess is that to do that the banks will have to reclaim pay and bonuses from every employee in their company along with those who were complicit, going back to where it started. Those who cannot pay will need to have their assets sold to pay for it.
I don't know about you but I am eagerly awaiting payment....
Board of Governors of the World Bank and IMF have foreclosed on the Fed:
https://s3.amazonaws.com/khudes/Twitter3.24.15.pdf
So now it is just a matter of returning the stolen wealth to those who actually earned it.
First of all, it's called internalization, been going on awhile, it is not a secret, simply rather recondite.
The top banks and hedge funds buy almost 100% (around 96%) of the public trades from the major brokerages, and match them up internally on their systems, known as dark pools.
Got it?
This combines both insider trading with financial market manipualtion, can you dig it?
And why doesn't anyone feature articles about Erin Arvedlund's most excellent book on the LIBOR rigging:
http://goldbergmcduffie.com/project/open-secret
http://www.amazon.com/Open-Secret-Conspiracy-Swindled-Investors-ebook/dp/B00DMCPLEI
(Because it names names, perhaps?)
Why would I "invest" in the stock market?
Because it is rigged. :)
Somewhere somebody is chuckling, saying shit they missed the other 30 ways were raping people...
We rigged some folks!!
We only did 27 of these 28 things. That's reasonable doubt by our standards. Ergo, we admit no wrong doing and claim innocence.
Lloyd Blankfein
Freedom: the power to act, speak or think without externally or internal imposed constraints or restraints
Slave: Someone dominated or controlled by internal and/or external influence(s), or person(s) that limit a person or group of persons freedom to make individual choices.
Everyone is truly enslaved and no one has freedom; only limited liberties and diminishing at that. What does the word of God say about the human condition in this regard since it is the source of truth. I find it to be true in light of Mr. Websters definition and the obvious inspection of the actual definitions. However; humans hate to admit the truth even when they cannot deny based on their own experiences.
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Don’t you know that when you offer yourselves to someone as obedient slaves, YOU ARE SLAVES of the one you obey; whether you are slaves to sin, which leads to death (ETERNAL DEATH), or to obedience, which leads to righteousness?
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But thanks be to God that, though you used to be slaves to sin, you have come to OBEY FROM YOUR HEART the pattern of teaching that has now claimed your allegiance. You have been set free from sin and have become slaves to righteousness.
I am using an example from everyday life because of your human limitations. Just as you used to offer yourselves as slaves to impurity and to ever-increasing wickedness, so now offer yourselves as slaves to righteousness leading to holiness. When you were slaves to sin, you were free from the control of righteousness.
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Truth is the most hated and despised among ALL those who are perishing..sad and unnecessary as well.
That's US!
Power concedes nothing without demand. It never did and it never will.
The limits of tyrants are prescribed by the endurance of those whom they suppress...
– Frederick Douglass, 19th c. American orator, author, reformer.
Hijo de puta! Me han robado!
Zero sum game
Howsoever u play it