PERFECT SCAM: FEET ON THE DESK = GOLDMAN COMPUTERS ROB EVERY TRADE OF ITS PROFIT!
Yours and Mine!
“The insiders are able …to see your order and play it against other orders in ways that you don’t understand. They’re able to front run your order.”
— Michael Lewis, author of “Flash Boys” – “front running” MADE legal.
GOLDMAN FLASHY BOYS’ COMPUTERS = AUTOMATICALLY READS YOUR (and OTHERS) TRADES WAITING TO ENTER THE MARKET in NANOSECONDS and in another NANOSECOND Calculating the BEST WAY TO RIP YOUR TRADE OFF and in a NANOSECOND PLACE A TRADE AHEAD OF YOURS to GET YOUR PROFITS + perhaps even MORE!
“US stock market is rigged, with elite traders buying access to a high-speed network that allows them to figure out what you’ve just ordered, order it first, then raise the price before your order is complete.”
— Michael Lewis, author of “Flash Boys” – “front running” MADE legal.
Michael Lewis = High frequency trading (HFT) = “That’s why they were able to trade for five years without losing money on a single day” = Profits by automatcally reading YOUR ORDERS and JUMPING AHEAD OF YOU to WIN $Millions at the expense of ALL doing buys and sells.
SOLUTION: USE this LEVEL OF AUTOMATION FOR GOOD OF ALL AMERICANS:
BANKING = AUTOMATED PUBLIC UTILITY = NO USURY INTEREST!
WEIRD ENGINEERS (WHO COULD CARE LESS ABOUT MONEY) WORK 18 HOURS PER DAY TO HELP WALL STREET CROOKS REFINE ROBOT COMPUTERS TO ROB THE PROFIT ON EVERY TRADE YOU MAKE! Science Fiction is REAL!
High powered microwave towers CATCH TRADE DATA and parse it in NANOSECONDS.
High frequency trading (HFT) = BEST BIG SCAM EVER = Most significant revolution in financial history. High-speed LOOTING by GOLDMAN who HIRES MOSTLY RUSSIANS because of their SKILLS at CODING.
Lewis’s attention to high frequency trading = Wave of new attention to BIG FRAUD
Hero Of Michael Lewis’ New Book = Mysterious Stock Exchange Goldman Loves
‘Flash Boys: A Wall Street Revolt’ = Firm called IEX created a separate SUPER FAST exchange doing High FREQUENCY TRADING = Blamed for 2010 Flash Crash
HFT = Harms other actors in market = REAL PEOPLE cheated out of their PROFITS
Lewis tells us the old stock exchanges with people yelling and the ticker tape — is dead. “The US stock market now trades WITH AUTOMATED ROBOTS owned by GOLDMAN and OTHERS programmed by PhDs and Computer EXPERTS – MANY FROM RUSSIA. = Built by brilliant Russian programmers “oblivious” of the harm they’re doing to regular stock holders — who see their code creations as pieces of themselves. = LIKE Sergey Aleynikov, a Goldman programmer accused by Goldman of stealing the COMPUTER CODE.
Goldman told the WSJ = “We view IEX’s core mission as simplifying…and most significantly, a speed buffer that intentionally slows down trading in their market, relative to other venues.”
IEX was born by Royal Bank of Canada’s Brad Katsuyama, the man who ran the bank’s US trading desk = Outspoken about HFT problems. = Goal was to “restore fairness in the US stock market.” = Katsuyama watched clients CONTINUOUSLY BEING SCREWED BY LOSING GAINS TO ROBOTS.
Lewis = Exposes HFT and Dark Pools = Off-exchange TRADING SYSTEMS where ROBOTS buy and sell stock SECRETLY and anonymously = Quietly GROWING FAST = Institutional funds and pension funds. = 12% to 15% of all US trades = NEARLY Un-regulated and surrounded by sophisticated HFT ROBOTS who unfairly exploit these FUNDS in complete PRIVACY!
HFT = RUSSIAN Programmers write computer algorithms that in NANOSECONDS DYNAMICALLY READS THE TRADE ORDER QUEUE and CALCULATE WAYS TO ROB EACH CUSTOMERS ORDER and then IMPLEMENT the ORDER ahead of CLIENT ORDERS (FRONT RUN THEM) to create 6 MONTHS OF PERFECT TRADING DAYS FOR GOLDMAN = NO LOSSES = BEST SCAM ON HISTORY = FEET ON THE DESK SCAM WITH COMPUTERS DOING THE ROBBERY FOR YOU.
Wall Street grabbing information = Coin of the realm = Inside track on trades
Pension funds HIDE EFFORTS to make LARGE Buys to prevent PRICE CREEP = Use Dark Pool markets to hide their activity. = HFT BANK ROBOTS HAVE special connections to dark pool system and HFT ROBOTS VIEW THE Pension Fund’s Order and AUTOMATICALLY enters a Calculated Order on the Nasdaq to REAP THE TRADE’S PROFITS at a lower price + then quickly sell it to the PENSION FUND in the dark pool at a higher price. HFT ROBOTS = PRICE CREEPS
Lewis aims at big banks = Credit Suisse + Goldman + BofA’s Merrill Lynch = Whose giant dark pools setup for SAFETY of FUND TRADE clients to AVOID DANGEROUS HFT ROBOT CREEPS who always win out due to AUTOMATED information (TRADE) THEFT. NOW FULLY EXPLOITED BY THESE BIG BANKS ROBOTS!
LEWIS = FIRST they pretend to protect the BIG FUNDS to get them in the DARK POOLS and once they have them THESE BIG BANKS LIKE GOLDMAN SIC THE ROBOTS ON THEM to LOOT EVERY TRADE. = BANKS ACT AS CASINO OWNERS WHO SET THE “TAKE” (LOOTING LEVEL) and their ROBOTS DO THE REST FOR ENDLESS PERFECT $1OO,OOO,OOO DAYS FOR GOLDMAN.
FUNDS have learned and are LEAVING BANKSTERS’ DARK POOLS after being burned so OFTEN BY HFT ROBOTS. = “If I’m being screwed, why am I in this pool? What is the advantage of being in the dark pool than in [the public exchanges]?” BROKERS BROUGHT THEM IN FOR COMMISSIONS and to be TAKEN = PAID a fee for each transaction = HELP BIG BANKS USE HFT ROBOTS for MANY MANY ROBOT TRADES = BROKER FEE FOR EACH + BROKERS TRADE AGAINST THEIR CLIENTS.
Even worse = BANKS operating dark pools make trades using their own money – Propriety trading Banned by the Volcker Rule in REFORM PACKAGE that CUT OUT BANKSTER inside DATA ROBBERY of all trades within their exchanges.
ROBBING INSIDER TRADE INFO = REQUIRES PAYING FOR ORDER FLOW DATA
A giant online brokerage TOLD Lewis = Every year banks and HFT Firms fly to Omaha to do “handshake deals face to face” = NO “paper trail” = Payment for order flow = “off the record as possible” = NO email or phone calls = Even the Flights are HIDDEN transaction = Buried on their balance sheets.
INSIDER TRADE DATA = Sold to HFT Firms for $100s of Millions/Year to $1+ Billion.
BANK CASINOS MADE OUT EVERY WAY YOU SLICE IT = ROBOTS AUTOMATICALLY GRAB THE INSIDER DATA + BANKS SELL THE DATA TO OTHER HFT ROBOTS + ROB SLOW-FOOTED CLIENTS AND OTHER SUCKERS. = NO BRAINER SCAM ALMOST AS GOOD AS THE FED RESERVE.
Why do Funds get suckered into a rigged game = “They deserve some of the blame. They just sat there and didn’t do too much about it.” = USE Bank research reports to guide their trading decisions = FEAR Lose of access to the research.
Royal Bank of Canada’s (RBC) former global head of equities were shocked at how banks LET HFT ROBOTS ROB Funds in their dark pools = Pension Plans + Most Mom and Pops are being screwed = Bank CLIENTS and CUSTOMERS to FEED $1OO,OOO,OOO INCOMES FOR BANKSTERS.
Regulators TURN THEIR EYES THE OTHER WAY in the REVOLVING DOOR of WALL STREET-WASHINGTON = USE EXCUSES = “it’s over OUR heads” + “We have no idea what is really happening.” = SEC added NO new rules
RBC’s US trading desk = Alarmed at HFT ROBOTS and came up with a new computer program to expose just how investors were being RIPPED OFF. = SEC staffer said, “What you are doing is not fair to HFT (ROBOTS). You’re not letting them get out of the way.” Staffer wants HFT ROBOTS to post phony bids + Fake Offers to GET INSIDER DATA from actual investors = RISKS THE BANKSTERS’ HFT SCAM. RBC report found 200+ SEC staffers since 2007 had left government jobs to work for HFT firms or firms that lobbied DC on their behalf.
RBC spinoff created a new type of exchange, IEX, which has leveled the playing field by adding “speed bumps” to slow down high-frequency traders.
FUNDS AND OTHERS are catching on to the HFT ROBOT SCAM = Goldman’s Sigma X dark pool = ROYAL RIPP-OFF 50% of the TIME like GOLDMAN did in the Housing SCAM = RIPPING OFF THEIR CLIENTS’ FACES = SEC “wanted to know if Goldman Sachs’s prop group was on the other side of the trade.”
Lewis says Goldman reputation is so bad that they turned the corner = Now biggest broker on IEX = Clean up their SCUMMY IMAGE. = Slows down HFT ROBOTS + GOLDMAN sent COVER MEMO to its staff, urging them to promote the anti-HFT platform “even if that results in reduced volumes in our dark pool, Sigma X.” + Goldman op-ed in the Wall Street Journal = Argued for improvements to the proliferation of speed, complexity and fragmentation. = ZERO DONE! GOLDMAN always works BOTH ENDS to CYA!
DARK POOLS are “toxic cesspools” = LEWIS reports former Bank Execs say = But HF Traders say “that they serve a market-making function (SAME OLD LIES) and that they add liquidity (MORE LIES) — but at its core it’s predatory and the regular investor doesn’t stand a chance.”