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Topic: Absurd (Read 1473 times) previous topic - next topic

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  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Absurd
Reply #135
It never occurs to these hacks to cut spending. Oh wait, that might not get them reelected.

You have to wonder if these idiots give 2 shits about their grandchildren. Or are they going to steal enough wealth to keep them in the money for a generation or 2.

Re: Absurd
Reply #136
For anyone who does not think commodities markets are manipulated, here is a conviction that says otherwise.

https://www.justice.gov/opa/pr/former-precious-metals-trader-pleads-guilty-commodities-fraud-and-spoofing-conspiracy

It also points to use of computers with high speed to the detriment of ordinary investors. My fix for this is for the SEC to make a binding rule that every order placed have a 3 second shelf life. That would end all the orders placed that are never intended to be exercised. SEC not doing the 3 second rule would in my opinion be ABSURD.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Absurd
Reply #137
Get the SEC in your pocket and make it so.........

Re: Absurd
Reply #138
More information related to reply 136, market manipulation:

"Prosecutors said Edmonds learned the deceptive strategy "from more senior traders" at the bank, and that he "personally deployed this strategy hundreds of times with the knowledge and consent of his immediate supervisors." His guilty plea related specifically to trading in silver futures contracts, as well as to contracts in gold, platinum and palladium futures."


The quote from the article linked below clearly states at least his immediate supervisors knew of the criminal activity and elsewhere in the article there is back slapping on how well the SEC is doing with fraudulent trading cases all the way up to 26 from near zero. Well, where are the cases against the superiors and company? Why not put this in perspective, the annual mined volume of gold is traded nearly every day according to some reports. This is a start, but it is doing about as much good as a snow flake in hell.


So the SEC admits knowing there is a problem, but have not promulgated any rule or regulation. Clearly there is much more litigation and accountability to be enforced up the food chain and clearly regulation is needed to curb the deleterious trading, such as simply requiring submitted  offers to trade have a 3 second shelf life, Not doing either is doubly ABSURD.


https://www.cnbc.com/2018/11/12/ex-jp-morgan-silver-traders-guilty-plea-could-boost-manipulation-suit.html?__source=yahoo%7Cfinance%7Cheadline%7Cstory%7C&par=yahoo&yptr=yahoo

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Absurd
Reply #139
Quote
So the SEC admits knowing there is a problem, but have not promulgated any rule or regulation.

Goldman Sacks owns the SEC. Like everything else in the USA, its about the banks and not the people. Corporatism will always grow worse until it collapses. Its all about greed with these people. The world is not enough.