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Wall Street gone wild


Nothing is more pathetic than American television news shows trying to explain scientific or financial issues.  I remember a movie where the director was simply calling for “experts” to fill the slots needed for discussing the event.  Now they have replaced experts with anyone who can relate with the event or has a job concerning the event.

In today’s Stock Market investor rape, all those interviewed were talking about Greece, and even a possible “mistake” by a trader.  I imagined all the Americans sitting by their television sets saying, “hmmm, maybe”, OR “What an idiot making a mistake like that”.  The HPL power of the television has become so dominant in American society that we can be force fed complete crap and still keep swallowing it like its ice cream.

Here is the truth about yesterday’s stock market event.  (All you news teleprompter readers take note.)  Someone shorted Accenture and a few other select stocks.  It was a purposeful play against the programmed trading of the “dumb money” mutual funds.  The traders who prompted this free fall knew exactly how much they needed to sell before the investment programs automatically hit a “sell” level and dumped the stock.

Remember, the traders who originally sold the shares, did not have to buy them back until the end of the day (or maybe even longer).  They sold shares they did not even own.  Once the automatic trading kicked in, they were able to purchase the items they sold for 50% off the sale price.  For all you stupid Americans, imagine that you were able to sell Blockbuster a movie for $10.  Then later that day, you purchased the movie somewhere else for $5 and took it to Blockbuster to fulfill your obligation to give them the movie you sold them.  That is exactly what happened on Wall Street today.  Its not hard to do, and it does not take an extremely intelligent person to learn what the triggers are for major mutual funds.  (just check their trading history).  The difference today is that capitalism has reached the point at which ethics do not matter, only the letter of the law matters.  Today a typical American took advantage of the system, regardless of who got hurt, and made boat loads of money.

Congratulations.  You are the next contestant on “lets rape for millions”, the new American reality show featuring bankers who do not care about our society.

If you have money invested in mutual funds, this is your warning bell.  You are at risk.  Your investment asset can be sold without your approval, at a discount, by simply forcing the market to the point at which the program that runs your mutual fund will issue an automatic sell order to “protect your assets”.  In other words, the money that you took years to save can be taken from you one chunk at a time by manipulating the price of the stock your mutual fund has invested in to a point of an automatic sell order.

Welcome to the Wall Street that the Bush family built.  Welcome to capitalism gone wild.  You lose, thank you come again.   ItiA

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