It’s depressing to know our entire world is this corrupt – Rory Hall, Shadow of Truth
The brown stuff is starting to hit the fan blades. The trading was suspended on the NYSE this morning right about the time the entire stock market was about to go off a cliff.
On Monday one of the primary HFT Electronic Communication Networks “broke” in the middle of a big sell-off in stocks in response to the “NO” vote in Greece. Interestingly, when the stock market did a “U-turn” yesterday resulting in about a 40 point swing in the S&P 500 and a 400 point swing in the Dow, none of the major HFT ECN’s seemed to have any issues.
But, the fact that they had to unplug the entire NYSE today tells us how desperate they are to keep the market propped up in the face of rampant sell programs hitting the market.
Two things are inevitable: 1) at some point money managers running large pension portfolios, hedge funds and mutual funds have to regard their fiduciary duty to their investors and get rid of their historically overvalued stock positions – this will cause a major sell-off in the market because the ONLY buyer is the Federal Reserve; 2) at some point the elitists will prevent widespread selling by declaring market “holidays” and lowering redemption “gates” on mutual funds – in other words implement capital controls. Both of those two events are fait accompli.
The cause of this week’s market turmoil – at least on the surface – is the Greece situation. Paul Craig Roberts published an article yesterday in which is noted that the IMF’s statement about Greece released a couple days ago signals to us that the U.S. is flexing its muscles on this situation, which means a resolution to this crisis will occur which keeps Greece in the EU. Apparently the “front-office” neo-con-in-chief, Victoria Nuland, was recently visiting Tsirpas to exert undo influence on his decision-making process.
But there’s more going on behind the curtain that hides the real Wall Street and DC than just Greece. When the report hit the tape that Tsirpas caved in and begged for mercy from the Troika, the stock market bounced briefly and then sold off even more. The fact that they couldn’t prop up the stock market with most of it closed on a week in which the majority of market players are still at the beach in the Hamptons reflects bigger problems occurring behind the scenes than Greece.
Finally, as most of you are aware, the U.S. mint declared “force majeure” on its legal requirement to produce enough silver eagles to meet demand and suspended sales at least until the beginning of August. In simple terms: the U.S. mint is out of silver and the Comex is out of silver that it can hypothecate to the mint.
We are starting to see the collateral damage and unintended consequences of unfettered Government/Central Bank intervention in the markets and in world affairs. Domestically, the U.S. has been terminally infected with rampant criminality and corruption. Internationally, the neocon-fueled U.S. Government has become a despised tyrant working furiously to exert it rapidly waning authority on global affairs.
I know Rory prays everyday that I’m wrong, but my instinct tells me that Victoria Nuland and her neoconservative band of scumbags who control U.S. foreign policy will eventually resort to flinging nukes at that which they can not control…