Wall Street is not only a rigged Casino game but in the hands of its principle dealer, Goldman Sachs ~ its a weapon of financial terrorism as witnessed on 9/29/09 and most recently on 5/06/10.
David DeGraw & Max Keiser, AmpedStatus Report , lay out the details in their devastating expose Financial Terrorism Operations: 9/29/08 & 5/6/10 ~ which is part 3 of a six part series entitled “The Financial Oligarchy Reigns: Democracy’s Death Spiral From Greece to the United States.”
Excerpts: "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... "
So on 5/6/10, just as the power of the big banks was again threatened 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.
If you think the massive sudden drop happened because one lowly trader hit one wrong button, if you actually believe that the entire stock market can plunge because of one mistaken key stroke by a low-level trader, you are stunningly naïve. I hate to burst your bubble, but this was a direct attack.. "
" In a market where 70% of all trades are executed by computer algorithms via High Frequency Trading (HFT), Goldman Sachs has the power to make the market crash or rise at will. In fact, Goldman has a major Weapon of Mass Destruction in its Program Trading monopoly of the New York Stock Exchange, as Tyler Durden described on Zero Hedge:
“Goldman’s dominance of the NYSE’s Program Trading platform, where in addition to recent entrant GETCO, it has been to date an explicit monopolist of the so-called Supplementary Liquidity Provider program, a role which affords the company greater liquidity rebates for, well providing liquidity, and generating who knows what other possible front market-looking, flow-prop integration benefits.
Yesterday [5/6/10], Goldman’s SLP function was non-existent. One wonders - was the Goldman SLP team in fact liquidity taking, or to put it bluntly, among the main reasons for the market collapse….
We have long claimed that Goldman is the de facto monopolist of the NYSE’s program trading platform. As such, it is certainly the case that Goldman was instrumental in either a) precipitating yesterday’s crash or b) not providing the critical liquidity which it is required to do, when the time came. There are no other options.”
“May 6th was an unequivocal act of domestic financial terrorism in America. A day that will live in infamy. To scare the lawmakers, themselves large owners of the very banks and stocks that they are supposed to be regulating, a financial Weapon of Mass Destruction was put to their head and they acquiesced... "
I can tell you that Goldman, JP Morgan and the gang simply pulled the ‘buys’ from their computer trading programs and manufactured a crash. And when the coast was clear, and it was clear the politicians were not going to vote for anything that would break up the ‘too big to fail’ banks; all the ’sells’ were pulled from the computers and the market roared back.... "
Click on here and read this full explosive report ~ http://ampedstatus.com/high-frequency-terrorism-how-the-big-banks-and-federal-reserve-maintained-their-death-grip-over-the-united-states
So now you know how Goldman Sachs (GS) traders made at least $25M every single trading day in Q1, and made more than $100M per day on 35 out of the 63 working days. JPMorgan's trading unit was also loss-free in the first quarter, making an average of $118M daily. They control a computerized market ( Casino ) that is both rigged and dangerous for our financial health.
So here's the bottom line, as David and Max conclude their blockbuster article ~ The bottom line: " the United States has been taken over by a financial terrorism network. Let’s face it, we are all hostages of these financial terrorists and their puppet politicians would rather be in on the scam than defend our interests."
Here's what we are up against ~ $600 million has been spent in bank lobbying, trade association activity and political contributions since March 2008 ~ and that is just from the six biggest banks. The entire financial industry is spending an estimated $1.4 million a day, hiring 70 former members of Congress to make their case.
Nothing will change until truth and transparency are brought to Wall Street, the Glass Steagal Act is restored, criminal charges are filed and the Fed is audited.
Allen L Roland
Freelance Alternative Press Online columnist and psychotherapist Allen L Roland is available for comments, interviews, speaking engagements and private consultations ( email@example.com )
Allen L Roland is a practicing psychotherapist, author and lecturer who also shares a daily political and social commentary on his weblog and website allenroland.com He also guest hosts a monthly national radio show TRUTHTALK on http://www.conscioustalk.net/