If you don’t think the stock market is corrupt and rigged, consider this: after Thursday’s 1,000 point drop, the biggest nominal decline in NYSE history (percentage-wise, since 1987), the market then, within its last hour, climbed back UP out of the gutter 650 points. That retrace has got to be some kind of record too. Coincidental? Unrelated? I think not.
Manipulated? Isn’t that obvious yet?
And if .gov sets its propaganda wing on bitch-mode about market manipulation, you will take note that the spotlight is cast upon “evil short sellers” when it’s clearly the TBTF banks (“financial terrorists)”. In fact today’s 400 point ramp job at the open is courtesy of the ECB, the Fed, Inc. and the IMF… “juicing the present by robbing from your future.(tm)”
“In the aftermath of Goldman Sachs’ public flogging before the world in Congress, and while under investigation, on the very day that Congress was voting on the “break up the too big to fail banks” amendment and cutting behind the scenes deals to gut the audit of the Federal Reserve, the stock market had its greatest sudden drop in history, plummeting 700 points in ten minutes – shades of September 29, 2008 all over again.
“If you recall, back in September ‘08, as Congress was voting down the first bailout, the big banks made the market plunge a record 778 points in one day, fear and panic then led Congress to pass the bailout. Trillions of our tax dollars, the money that we desperately need to keep our society functioning over the long run, then went out the window and into the pockets of the very people who caused the crash.
“What happened on September 29, 2008 will go down in history as one of the greatest acts of terrorism ever.
“9/29/08 proved that when you have so much power concentrated in the hands of a few, you can manipulate a computer algorithm and make the market and economy go which ever way you want it to go. So on 5/6/10, just as the power of the big banks was threatened again on the floor of the Senate and a deal on auditing the Federal Reserve was being negotiated, in came a sudden and unprecedented ten-minute 700 point market drop. A precision-guided High Frequency Trading (HFT) attack to show Congress who’s boss.“
“The Ponzi scheme was very effective, because the impossible dream was so appealing. The euro project gave people and companies and governments in the periphery access to far lower interest rates than they had ever seen before, and encouraged them to enter the gingerbread palace. The result was a manic period of credit expansion where people borrowed vastly more than they could ever hope to repay, just like the US subprime borrowers who indulged in the same dynamic. Attempting to borrow yourself into wealth absolutely never works, no matter where you live. The developing debt slavery further enriches the centre in the meantime, though.”
Eurozone melt down explained:
Karl Denninger does a good job summing up the perniciousness of the Federal Reserve privatized system.
IMHO, the case was made for auditing the Fed, Inc. when it was recently revealed Easy Al Greenspank and his hood-rats decided to hide from the American people their concern about the housing bubble because “we’re the only ones who can understand this problem.”
The chimera of prosperity works- until it doesn’t anymore.