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Updated: 9 hours 16 min ago

The Crime of HFT Is Freelance Manipulation Not Market Distortion

Fri, 04/18/2014 - 03:06
We'd like to know how the winner of an economic "Nobel" – the erudite Joe Stiglitz – believes that markets can fail and that regulation can succeed. Really, this is one of the sharpest minds in the business. Regulations usually have unintended consequences because it is impossible to tell in advance what the result of a regulation – basically a price fix imposed by force – will be. But Stiglitz is pro-regulation, nonetheless. Here's more: Stiglitz says ... HFT is a negative-sum game. In the ...

Public Justice Under Attack

Fri, 04/18/2014 - 03:04
For many years the High Alert "brain trust" has pointed out that one of the last memes of the power elite to come under sustained pressure would be the theme of Western "justice." This would be an inevitable part of what we call the Internet Reformation. The popular idea of Western justice as relayed by the mainstream media is that it is a precise discipline – a science almost – administered by a professional policing caste. However, the reality is a good deal more chaotic. J. Edgar Hoover, ...

Thank Heaven for Gold Manipulators

Fri, 04/18/2014 - 03:01
This rejoinder was prompted by the Daily Bell interview with Bill Murphy of GATA (March 30, 2014). I shall accept, for the sake of argument, Murphy's premise that the dollar price of gold is heavily manipulated by the U.S. government in order to keep it in check. But while Murphy thinks that it is a great curse I shall argue, tongue in cheek, that it is a blessing in disguise. The difference between Murphy's thinking and mine is the difference in financial survival strategies in the face of the ...

More Evidence That Consolidated Global Power Is Wielded by a Tiny Elite

Thu, 04/17/2014 - 03:06
Gradually and continually (we humbly observe) our theses are confirmed by others. The Anglo-American axis indeed controls the world – China, too. We find this startling admission in a recent article posted at the UK Telegraph. And, yes, we've reported on it in our own way, proposing that the top elites in any society have more in common with each other than the vast majority of citizens they keep (a distant) company with. Thus it is not surprising that the US has a great deal of clout around the ...

East v West in High Finance Directed History or Real Schism

Thu, 04/17/2014 - 03:04
Here is yet another article on the proverbial decline and fall of the West, and especially its Anglo-American backed economic and financial institutions. We have a difficult time, however, believing fully in the veracity of this East versus West meme. Something strikes us as a little bit phony ... After all, the IMF and the World Bank in particular are Western inventions. If there is such great antipathy to Western traditions and influences from an economic standpoint, then why are the BRICS ...

The Next IRS Tactic vs Expats and Accidental Americans

Thu, 04/17/2014 - 03:02
According to the State Department's estimate (January 2013), approximately 6.8 million Americans live abroad. Many more "accidental Americans" live outside the U.S. In the future, both may confront a powerful new weapon wielded by the Internal Revenue Service (IRS). An "accidental American" is a person who lives in Canada (or another non-U.S. nation) and holds dual citizenship, whether or not he knows it. For example, it includes every Canadian child born to an American parent even if he never ...

In Defense of a Progressive Tax System Not

Wed, 04/16/2014 - 03:06
This Reuters editorial makes the case that progressive tax systems are good and that the "wealthy" among us ought to pay "their fair share." The editorial also makes the point that progressivism generally seems not very popular anymore and that progressive tax ideas are worth defending and expanding. Here's more: ... Progressives a century ago, like their liberal counterparts today, believed citizens owed a debt to society in relation to their "ability to pay." This curt yet crucial phrase ...

Conspiracy Theory Goes Mainstream

Wed, 04/16/2014 - 03:04
Feedbacker Alaska forwarded this astounding article posted at the well known website Gawker. Alaska's point is that Gawker is a kind of gatekeeper for the mainstream media, and by publishing this article before someone else does, Gawker editors can "spin" it in the appropriate direction. The appropriate direction, of course, is one of subdued mockery and disbelief. But reading the article, one gets the feeling that age-old "damage control" revolving around denouncing someone as a "conspiracy ...

Besmirching Markets

Wed, 04/16/2014 - 03:02
As an avid reader of all kinds of fiction – part entertainment, part cultural anthropology – my attention is perked whenever I see authors get sneaky on us. This occurs often when they wish to make a political point but not to take responsibility for doing so. They are too lazy or ignorant to actually argue their case but will not resist laying in with a few nasty licks, probably in the hope of influencing their readers. One author I have enjoyed reading is the Swedish crime novelist Henning ...

Predictably Central Bankers Suggest the S-Word Securitization

Tue, 04/15/2014 - 03:06
So Europe's central bankers have decided that the only way to revitalize the European economy – especially Southern Europe – is via securitization of assets. This we learn from Jeremy Warner, assistant editor of The Daily Telegraph, and author of the article excerpted above. Is it possible that Mr. Warner did not think up this thesis all by himself? Is it possible that it was, ahem ... suggested to him? As we have reported regularly, those charged with maintaining economic order are bound and ...

OWS 20 No Better Than the Original

Tue, 04/15/2014 - 03:04
Unbeknownst to most, Occupy Wall Street is morphing into a perennial campaign mode. Much like a politician who does not want to admit defeat, OWS has revamped its message and methodology of protest. The new (and perpetual) campaign is something called "March Against Corruption" and it is sponsoring events such as the "Wave of Action." A description of the WOA was posted at the OWS website "OcuEvolve." "We Are A Movement Of Movements - The Worldwide #WaveOfAction begins April 4th and runs ...

The Free Market vs the Interventionist State

Tue, 04/15/2014 - 03:02
In whatever direction we turn, we find the heavy hand of government intruding into virtually every aspect of American society. Indeed, it has reached the point that it would be a lot easier to list those areas of people's lives into which government does not impose itself – and, alas, it would be a very short list. But it was not always that way. Around a hundred years ago, say, in the first decade of the 20th century, all levels of government in the United States only taxed away and spent about ...

Mainstream Media Presents Divide and Conquer Meme to Tame Rising EU Discontent

Mon, 04/14/2014 - 03:06
Will Germany be fined for being too prosperous? That's a possibility according to this UK Telegraph article. How can an entity – a region – be attacked and made poorer because its people are industrious? To ask the question is to reveal the growing desperation of the EU bureaucracy and those running the modern-day version of Charlemagne's empire. Elites have always turned to "divide and conquer" tactics when faced with the threat of an organized opposition. What is going on in Europe surely ...

Bundy Boots the BLM Is This a Significant Moment

Mon, 04/14/2014 - 03:04
Some in the alternative media have been celebrating the defeat of the Bureau of Land Management, which unsuccessfully attacked rancher Cliven Bundy for not paying grazing fees. This analysis attempts to ascertain the importance of the Bundy "victory." After national coverage and the convergence of numerous US citizens on the Bundy ranch to show their support, BLM backed down. They removed the armed enforcers, their trucks and even, reportedly, gave back the cattle that were confiscated. Alex ...

Another Phony Budget Debate

Mon, 04/14/2014 - 03:02
Anyone watching last week's debate over the Republican budget resolution would have experienced déjà vu, as the debate bore a depressing similarity to those of previous years. Once again, the Republicans claimed their budget would cut spending in a responsible manner, while Democratic opponents claimed the plan's spending cuts would shred the safety net and leave vital programs unfunded. Of course, neither claim is true. The budget does not cut spending at all, and in fact actually increases ...

BIRDBRAINS Why the Mainstream Media Promotes Them

Mon, 04/14/2014 - 03:01
Before I address exactly what a "birdbrain" is, and how they are effectively utilized by the Mainstream Media, I want to go over the facts as to exactly what the Mainstream Media is. The most significant fact to remember about the Mainstream Media is that it is ultimately six corporations that control 90% of the information delivered to Americans. The ostensible "diversification" we see all around us in the media is thus only an illusion created by corporate lawyers and crafty social engineers ...

Pat and Linda Gorman on Their Upcoming Wealth Protection Conference Top Guests and Wealth Trends

Sun, 04/13/2014 - 03:06
Governments fear gold in the hands of citizens because when the people own and hold gold it takes away the ability of the government to reallocate wealth from those who produce to the banksters and powers that be. There will surely be some more downs and ups before we see more consistent rises. The continual dumping of more and more paper "debt" into the market and QE to the moon makes the fundamental reasons for holding physical precious metals solidly in place, more now than ever. We could ...

Do Top Technology Companies Serve More Than One Master

Sat, 04/12/2014 - 03:06
A report in the Wall Street Journal states that "44% of Twitter accounts have never sent a tweet." The article goes on to maintain that this is "not a problem," because Twitter is signing up lots of NEW accounts. Of course, most of those accounts remain inactive, so one wonders how important they really are. In fact, the article states that, "New research ... from Twopcharts, a website that monitors Twitter account activity, states that about 44% of the 974 million existing Twitter accounts have ...

IMF Misleads on Interest Rates And So Does the Media

Fri, 04/11/2014 - 03:06
The UK Telegraph has posted an article entitled, "The world economy may well be stuck in neutral for years." The article points to low interest rates as a point of concern, even though these rates are to some degree not a market phenomenon but a human (central bank) decision. The article goes on to use the dreaded "S" word – pointing out that, "Low interest rates in the US and Greece are not a sign of recovery, but a warning of permanent stagnation." Here's more: It is now nearly seven years ...

Sen Sessions Explains Some of Obamas Immigration Policies But Not All

Fri, 04/11/2014 - 03:04
In numerous articles of late, we've explained the operative strategies of the Obama administration. When it comes to Obamacare, the administration may be seen as rolling out a chaotic program in order to build support eventually for a single payer system. The worse the system operates, the more pressure there will be for change. The change will likely evolve forward – toward "single payer" – rather than backward. When it comes to immigration policy, the administration is following a similar ...

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