The Latest Thing In China: Brokers Refusing Sell Orders

Just think of it as brokers doing you a favor: do you really want to be arrested for "malicious" selling?

Several friends in China have told me that brokers have refused their sell orders.

— Patrick Chovanec (@prchovanec) July 10, 2015

So why even bother with the pretense of "markets", and not only in China, but in Japan, Europe, Switzerland, the US and everywhere else where central banks have directly injected $22 trillion in artificial liquidity in the past 7 years to keep the illusion afloat?

@markets when you have the State creating money to buy stocks and enacting draconian measures against selling, it's not a market anymore.

— Rudolf E. Havenstein (@RudyHavenstein) July 10, 2015

Think of how much more productive the economy will be if central banks assure that markets will close higher by 1% every day in perpetuity. Consider the amount of free time Wall Street's brilliant "financial engineers" will have to allocate to socially useful activities for once.

Comments

[Palladin]

Sadly when it comes to Wall Street, and the MSM, common sense is suspended.

For example, on a Friday when the Stock Market is down the MSM pundits will all say something like this: "The Stock Market is selling off today because nobody wants to be long over the weekend." Everybody in the OctoBox all nods their heads in agreement, and on to the next topic.

But if you think about it from a common sense standpoint, that statement makes no sense. Because if I don't want to be long a stock over the weekend, I have to sell it to somebody, and they will be long that stock I sold them over the weekend. Since somebody has to own all the stocks all the time, there is no change on the amount of stock that is "held long over the weekend."

More common myths:  http://www.businessinsider.com/meaningless-market-phrases-that-sound-sma...

[Paracelsus]

I used to live down under in Oz.Now and then they would extradite one of those Triad blokes with dragon tattoos all down his back.They would fight extradition like their lives depended on it (!). The PRC cops would be at the arrivals terminal with big smiles,"Comrade Wong,so nice to have you back to visit!".

The PRC,where they know how to get shit done.....

[gcjohns1971]

TPTB were counting on the Chinese to recapitalize them, just as the US balance sheet was used to recapitalize them 100 years ago.

That is what TPP is all about.

I like seeing them squirm.

[reTARD]

The Chinese are more efficient at everything. Unlike the US, they don't need to hide their corruption behind the veil of "liberty, freedom, free markets, etc."

[Youri Carma]

Crazy!!!