James A Kidney
Since the launch of the new Michael Lewis book, “Flash Boys,” at the end of March with wall to wall media coverage, including his pronouncement on 60 Minutes that the stock market is rigged against average investors, there has been a whirlwind of damage control.
The FBI announced that an investigation was already in the works, the New York State Attorney General is issuing subpoenas and a civil war (frequently not so civil) has broken out among industry titans staking out their media turf on whether the market is or is not rigged by high frequency traders. Not in dispute is the fact that these high frequency traders have armed themselves with superfast computers, algorithms and artificial intelligence programs, all of which the New York Stock Exchange and NASDAQ have obligingly allowed – for annual fees running into tens of thousands of dollars – to co-locate next to the exchange’s own computers so the high speed traders can jump in front of the less tech savvy traders and steal pennies from millions of trades each and every day – a loss of billions of dollars to pensions and ordinary investors each year.
Catherine Austin Fitts is the Founder and President of Solari. She served as Managing Director and Member of the Board of Directors of the Wall Street investment bank, Dillon, Read & Co., Inc. She also served as Assistant Secretary of Housing/Federal Housing Commissioner at HUD in the first Bush Administration and was the President and Founder of Hamilton Securities Group, Inc.
We’ll discuss if financial fraud and market manipulations are actually mechanisms for financing the black budget and if centralized governance is necessitated by high-tech secrecy. There may be as much as $100 trillion dollars worth of hardware flying the skies powered by anti-gravity and field-propulsion technologies. This has significant implications for the ownership and design of manufacturing and energy infrastructure on planet earth. Continue reading
BATR April 16 2014
No one has ever claimed that the financial markets are a level playing field. Equities, bonds, currencies, options and futures are not arenas that operate by equivalent standards for all parties. Great fortunes were built not by chance, but on superior information, known to the few. Professional traders are not risk gamblers, but operate on the premise of special advantage. Through advance and proprietary techniques that reduce exposure hazards and provide exclusive head start triggers, which virtually guarantee profits, the elite firms dominate Wall Street.
Business Week states in the article, Is High-Frequency Trading Insider Trading?, that
“Classically defined, insider trading means having access to material, non-public information before it reaches the rest of the market; it’s like getting a heads-up about a merger before it’s announced, or maybe a phone call from a Goldman Sachs (GS) board member saying that Warren Buffett is about to invest $5 billion in the bank.”
With the introduction of super computers and Financial Algorithmic Trading, the era of generated trading strategies emerged that fill automatically, when predetermined prices are reached. Some would argue that exchanges were simply applying the latest technology to the time honored system of flipping positions.
Best-selling author Nomi Prins warns, “Never before have the Government and the Fed collaborated so extensively by propping up the banking system to the detriment of the population.” Prins lays out a long history of the relationships between U.S. Presidents and bankers that date back to Teddy Roosevelt and JP Morgan.
On her new book titled “All the Presidents’ Bankers,” Prins contends, “That connection with Teddy Roosevelt was a very powerful established entity between two people that has allowed all this stuff that has happened in the last hundred years to really happen. The friendships, the social ties, the idea that the bankers could sort themselves out with Treasury Department help if it needed to. Of course, it’s epic now. All of that was solidified then. Banks being hands-off with respect to the oval office was all solidified then. We’ve only been consolidating that message throughout the century since.”
In what may have big implications for the organic-food industry, Wal-Mart Stores Inc’s WMT largest unit, Walmart U.S., has teamed up with Wild Oats to sell a collection of pantry staples that will be much cheaper than national branded organic foods already on Walmart shelves.
Wild Oats, formerly the No. 2 U.S. organic grocer which Whole Foods WFM -0.53% agreed to buy in 2007 before it was forced to sell it in 2009 on anti-trust concerns, will offer about 100 items, from salsa to pasta, exclusively at about 2,000 Walmart stores across the country. Walmart eventually plans to roll the line out to its 4,000-store fleet and carry additional items. For Wild Oats, the introduction marked the brand’s relaunch.
“We are trying to disrupt the market,” Jack Sinclair, Walmart U.S.’s executive vice president of grocery, said in an interview. “What it is that makes organic products so expensive? Where’s the point of inefficiency? We want to bring accessibility” to organic items.
Walmart said the Wild Oats products will be priced at least 25% below those of the national organic brands it carries. For instance, Wild Oats has a 15-ounce organic tomato sauce that will sell for 88 cents, versus $1.38 for a rival national organic brand. Walmart, which currently carries 1,600 organic grocery items, said Wild Oats’ collection will be priced on par with other national non-organic brands. Its own Great Value private-label line, which doesn’t feature organic products, will still have the lowest price. Walmart has its own organic fresh produce under the Marketside label.
This is pretty interesting. ~G
David Horowitz, founder of an organization called the “Freedom Center,” argued that blacks should not be paid reparations for the enslavement of their ancestors. Among his reasons are that:
- There Is No Single Group Clearly Responsible For The Crime Of Slavery
- Most Americans Have No Connection (Direct Or Indirect) To Slavery
- Reparations To African Americans Have Already Been Paid
But slavery, in its various forms of physical and mental torment, has been a part of U.S. history from the beginnings of our country to the present day. There are numerous modern-day corporations who profited immensely – themselves or their predecessors – from slave labor. Only token amounts have been paid back, along with a few scattered apologies.
Four eras of abuse can clearly be identified.
First Era: Before Emancipation
Prior to the Civil War, King Cotton was the rallying cry for the South. With cotton accounting for 60 percent of all U.S. exports, and 75 percent of all the cotton purchased by Great Britain, slaves were needed more than ever. African-Americans in tens of thousands were herded to the deep south, chained neck to neck as they became the hapless tools of industry.
In a case that is a perfect storm illustration of an arbitrary and incompetent federal government running roughshod over its citizens, “a single sentence tucked into the farm bill” had led to outrageous behavior. Marc Fisher of the Washington Post:
A few weeks ago, with no notice, the U.S. government intercepted Mary Grice’s tax refunds from both the IRS and the state of Maryland. Grice had no idea that Uncle Sam had seized her money until some days later, when she got a letter saying that her refund had gone to satisfy an old debt to the government — a very old debt.
When Grice was 4, back in 1960, her father died, leaving her mother with five children to raise. Until the kids turned 18, Sadie Grice got survivor benefits from Social Security to help feed and clothe them.
South African Party Elections 2014 & Ubuntu
Tellinger eloquently expresses his conviction that it’s time for humanity to unite globally in a spirit of ubuntu and end our subjugation to financial tyranny and enslavement. He briefly explains the fictitious nature of money and why he is using the electoral party platform to inject a new (old) spirit of ubuntu into the global conversation.
He reminds us money is not needed for societies to grow, evolve and thrive. To the contrary, money is the premier instrument of enslavement and top-down control.
Take a listen. ~G
Ubuntu (/uːˈbʊntuː/ oo-buun-too; Zulu/Xhosa pronunciation: [ùɓúntʼú]) is a Nguni Bantu term (literally, “human-ness”) roughly translating to “human roughness.” It is an idea from the Southern African region which means literally “human-ness,” and is often translated as “humanity towards others,” but is often used in a more philosophical sense to mean “the belief in a universal bond of sharing that connects all humanity”.