"Public services, infrastructure, the very fabric of the nation: these too are being converted into risk-free investments. Social cleansing is transforming central London into an exclusive economic zone for property speculation. From a dozen directions, government policy converges on this objective. Property in this country is a haven for the proceeds of international crime. Sometimes the UK looks to me like an ever so civilised mafia state."
Thousands of investors with stop-loss orders on their ETFs saw those positions crushed in the first 30 minutes of trading last Monday, August 24th. Seeing a price blow right through your stop is perhaps the worst experience in all of investing because it seems like such a betrayal. “Hey, isn’t this what a smart investor is supposed to do? What do you mean there was no liquidity at my stop? What do you mean I got filled $5 below my stop? Wait… now the price is back above my stop! Is this for real?” Welcome to the Big Leagues of Investing Pain.
In the past, readers have been alerted to numerous “impossible” trends in our markets and economies, all manufactured by the Western banking crime syndicate. Here are just a few of those highlights (low-lights?)
"Time is now rapidly running out," warns The Telegraph's John Ficenec as the British paper takes a deep dive into the dark realities behind the mainstream media headlines continued faith in central planning. Sounding very "Zero Hedge", Ficenec warns that from China to Brazil, the central banks have lost control and at the same time the global economy is grinding to a halt. It is only a matter of time before stock markets collapse under the weight of their lofty expectations and record valuations.
Earlier today, one of the biggest farces of 2015 was remedied when a UK judge granted Sarao a bail reduction from £5m to £50,000 and was allowed to leave prison as soon as today. As profiled before, Sarao had been at the infamous Wandsworth prison - Britain's worst - since his arrest. As the FT reports, at a court hearing at Westminster Magistrates Court in London today, a lawyer for the US said he would not oppose the bail reduction.
In 2012 we asked whether the fact that stigmatized LIBOR traders were accepted with open arms at various hedge funds after being "fired" from the bulge bracket meant that there may, just may have been, some quid pro quo in the past. Now we know the answer.
Just days after WSJ revealed that Deutsche Bank's $2.5 billion LIBOR settlement could be in jeopardy due to the apparent mishandling of chat records dating back to 2005, Bloomberg says Loretta Lynch’s Justice Department has launched a criminal probe into the bank’s alleged role in facilitating a series of trades which may have allowed Russian clients to launder billions through the bank's trading desks.
Deutsche Bank says a "software glitch" caused an "unknown" number of electronic chats dating back to 2005 to be deleted (possibly forever), a "mistake" that could endanger the bank's record $2.5 billion LIBOR settlement with regulators.