Ex-Plunge Protection Team Whistleblower: "Governments Control Markets." - General

thenews 2015.02.24 09:56 #341

Ex-Plunge Protection Team Whistleblower: "Governments Control Markets; There Is No Price Discovery Anymore"

One year after the great stock market crash in 1987, US President Ronald Reagan launched the "Working Group on Financial Markets." Conspiracy theorists believe, however, that the real task of this committee is to protect against a renewed slump in the stock market. In the jargon of Wall Street, the working group is known as the "Plunge Protection Team."

One glimpse at a few days suring 2007/8 and it is clear that 'someone' with infinitely deep pockets was able to support markets on several critical days - though, of course, anyone proclaiming intervention was propagandized away as a conspiracy theory wonk. However, as Dr. Pippa Malmgren - a former member of the U.S. President’s Working Group on Financial Markets - it is not conspiracy theory, it is conspiracy fact: "there's no price discovery anymore by the market... governments impose prices on the market."

* * *

In this 38 minute interview Lars Schall, for Matterhorn Asset Management, speaks with Dr Pippa Malmgren, a US financial advisor and policy expert based in London. Dr Malmgren has been a member of the U.S. President’s Working Group on Financial Markets (a.k.a. the “Plunge Protection Team”). They address, inter alia:

Malmgren’s recent book “Signals: the breakdown of the social contract and the rise of geopolitics”;
the “inflation vs deflation” debate
the closer ties between Russia and China
the future of the Euro
Germany’s gold reserves
and the phenomenon of “financial repression”
Moreover, Dr Malmgren explains what she foresees as the endgame of the financial crisis.

Full interview:

Futures - For Advanced Testing trading capabilities of Technical analysis tools in

thenews 2015.02.24 09:57 #342

Still don't believe?

Here is Scott Nations in 2008 getting "Schiff'd" by the CNBC anchors (Liesman) and some other guest muppet when he dares to suggest the Fed is intervening and that the President's Working Group (i.e. Plunge Protection Team) is hard at work...

"look at the market action on the 10th and 28th and tell me what else might have generated a 100 point rally in the S&P under that situation?" Liesman fobs him off as some conspiracy wonk...

source

Forced test stop: TesterStop Launch - Welcome to String type

monty1 2015.02.24 10:06 #343

it's about supply and demand, institutions, hedge funds, banks all are players of this market and of course retails forex. it's not own by someone. if you visit your forex broker, or bank trading rooms or liquidity provider, you'll come to know, how to manipuate market or all things .

Price Data - For Social trading on MQL5 ECN and liquidity providers

thenews 2015.03.03 16:12 #344

UK Bankers to Face Prison for Reckless Misconduct

Reckless bank executives and senior managers at financial institutions based in the UK will face up to seven years in prison if their leadership causes their bank to fail, the UK Treasury announced today in press statement.

The new law will come into force in March 2016 and all the banks, building societies, and other financial institutions will have until February 2016 to notify the regulators of the names of all their senior bankers and managers who are approved under the current requirements.

New tougher rules will also allow authorities to fine or sanction senior bankers for their misconduct that occurs in their areas of responsibility. The rules will also apply to foreign branches of international banks based in the UK.

"A key part of our long term economic plan is to restore trust in Britain's banking sector so that it works much better for customers and businesses. Ensuring that our banks are properly run is vital for the health of our economy," Economic Secretary to the UK Treasury Andrea Leadsom said today.

"That's why I’m delighted to confirm the next step of the government’s work to raise conduct standards in the banking sector, including the new criminal sanctions for reckless misconduct by bankers we are introducing. We are determined to make sure that all banks in Britain operate with the highest standards," Leadsom added.

In order to enhance transparency and financial stability, the UK regulators will also be able to make rules of conduct for staff in UK branches of foreign banks.

Both the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), two chief financial regulators in the UK, will be able to make different rules for different types of staff or branch, and different rules for UK branches and UK banks, if they consider it appropriate to do so.

Corporate misconduct, low morale and reckless banking standards led the global financial system in 2008 into one of the most devastating and destabilizing crisis in modern history. Apart from other global banking institutions, nearly all major UK lenders suffered exorbitant losses following the credit crunch in 2008 and consequently had to be bailed out with billions of pound worth of UK taxpayers money.

source

RBA Interest Rate Decision RECURRING PAYMENT AGREEMENT Overview of control statements

thenews 2015.03.14 09:55 #345

Parasite Turns On Parasite: HFT Sues Other HFTs For "Egregious Manipulation" Of Treasury Securities

There was a time when those who dared to call out the massive Libor manipulation conspiracy (such as what Zero Hedge did with one of its first posts in 2009) for being a massive Libor manipulation conspiracy some 4 years before the "theory" became a fact, were branded as scaremongering, fringe voices, best to be ignored. Then, of course, once the "theory" became "fact" it suddenly was perfectly obvious to everyone in retrospect.

But the bigger question, and what stumped the so-called experts, is how could something so vast, with so many moving pieces, remain a secret for as long as it did.

The answer is extremely simple: everyone who was in on the "secret" was also benefiting from it: from the lowliest Libor rigger to the CEO of Barclays and every other major bank, they all knew what was going on, but also knew that if the information became public knowledge, the jig would be up, and everyone's benefits would evaporate with some even going to jail (at least in a hypothetical legal system in which bankers actually go to jail). In other words, it was merely a case where everyone's interest was aligned to maintain the conspiracy cartel as long as possible.

Which brings us to High-Frequency Trading: another vast "conspiracy", this time involving market rigging and manipulation, which Zero Hedge also called out as early as April 2009, only to be mocked before it became a generally accepted fact that the "algos" manipulate and frontrun virtually any security that is traded on an exchange or over the counter. This culminated with Michael Lewis' book "Flash Boys", only unlike the Libor case, there was absolutely no response because unlike Libor, and then FX and then gold rigging, the Federal Reserve's own activity often depends on its symbiotic collaboration with the HFT community's upward momentum bias (by way of Citadel, a peculiar close relationship between the NY Fed and Citadel we have discussed in the past). That, and there was also no informant to turn sides with the Feds, and make a case that goes to the very top. At least not yet.

Because the catalyst that cracked the Libor conspiracy was when the members started to make less and less money, until ultimately the formerly golden goose was bled dry. At that point, their incentive to keep their mouths shut became nil, and in some cases negative. From that point on, it was just a matter of time before the regulators had a case against the conspiracy granted to them on a silver platter.

The same is now happening to high frequency trading, because in a market in which volumes are crashing to unprecedented lows, and where there are no longer whale accounts for the HFTs to frontrun, pardon "provide liquidity to", there is no longer a need for as many HFT firms. And those firms which end up on the losing end of the technological arms race, now that there is not enough profits for everyone to go around, are suddenly incentivized to bust the whole criminal ring wide open. Or in the words of Louis XIV, "After me, the flood."

Which brings us to a the case of HTG Capital Partners, Plaintiff v John Doe(s), defendants, case 15-cv-02129, Northern District of Illinois.

Who is HTG Capital?

Here is the firm's description from the horse's mouth, Chris Hehmeyer, its CEO:

HTG is a proprietary trading company that some might call an aggregator of traders and trading groups. We're members of the exchanges, and we get financing from the banks.
We have a very diverse way of executing trades. We have colocated servers at the exchanges, at the facilities in Chicago, New York and London. We do high-frequency, automated FX trading. We have people that do OTC trades over the phone. We have people still in the trading pit and we have people who make trades with a click of the mouse. We also have people who do everything in between. We execute in a whole variety of ways, depending on the market.

We do very little equity securities. We trade a lot of different futures. In futures, we trade stock indexes, interest rates, commodities, crude oil, gold, silver, copper, cattle, soybeans, corn, sugar and cotton -- we trade a lot of different commodities. We don't trade a lot of futures options, but we certainly trade some, particularly interest rates, crude oil, metals, energy and FX options. So we trade a lot of different products. We even have U.S. government securities -- that's where we arbitrage the futures.

Is forex market controlled by someone? - page 35