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The Eagle

A Secretive Banking Elite Rules Trading In Derivatives

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A big bankster cartell to make huge profits without risk.

On the third Wednesday of every month, the nine members of an elite Wall Street society gather in Midtown Manhattan.

The men share a common goal: to protect the interests of big banks inthe vast market for derivatives, one of the most profitable — andcontroversial — fields in finance. They also share a common secret: Thedetails of their meetings, even their identities, have been strictlyconfidential. Drawn from giants like JPMorgan Chase, Goldman Sachs and Morgan Stanley,the bankers form a powerful committee that helps oversee trading inderivatives, instruments which, like insurance, are used to hedge risk.

[...]

The Department of Justice is looking into derivatives, too. Thedepartment’s antitrust unit is actively investigating “the possibilityof anticompetitive practices in the credit derivatives clearing,trading and information services industries,” according to a departmentspokeswoman.

Indeed, the derivatives market today reminds some experts of the Nasdaqstock market in the 1990s. Back then, the Justice Department discoveredthat Nasdaq market makers were secretly colluding to protect their ownprofits. Following that scandal, reforms and electronic trading systemscut Nasdaq stock trading costs to 1/20th of their former level — anenormous savings for investors.

[...]

The revenue these dealers make on derivatives is very large and so theincentive they have to protect those revenues is extremely large,” saidDarrell Duffie, a professor at the Graduate School of Business at Stanford University,who studied the derivatives market earlier this year with FederalReserve researchers. “It will be hard for the dealers to keep theirmarket share if everybody who can prove their creditworthiness isallowed into the clearinghouses. So they are making arguments thatothers shouldn’t be allowed in.

Read full 5 page article here:

http://www.nytimes.com/2010/12/12/business/12advantage.html

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What's going on with the NYT? Have they had an epiphany? First the WikiLeaks stuff, then reporting about banking elites?

Maybe they are pissed off because they found out tht GE/CNBC got Fed money and they didn't. Or maybe it has something to do with Murdoch and the WSJ? Something seems to be changing there....

Back to post: are these the same Elites who had a meeting to attack the Euro during May of 2009?

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I'm not a conspiracy theorist as a rule but I have wondered if there were powerful informal cliques of big players operating on the stock markets for some time. I don't necessarily believe there's one single secretive banking elite so much as a number of groupings. If you're big enough, and you make big enough deals, then you can be pretty certain that buying a block of shares in a company will send the price up, and then you can sell at a profit. When you do sell your big block, it's a safe bet that the price will drop again. You'd just have to be careful you don't get caught out by factors not specific to the target company, like bad news in the sector or the markets generally.

I'm beginning to wonder if this is why were seeing good and bad financial news being packaged into a few days of good news and a few of bad - with alternating talk of recovery and then the second dip. Could it be attempts to ration the news to the needs of the markets?

Edited by Hyperduck Quack Quack

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Back to post: are these the same Elites who had a meeting to attack the Euro during May of 2009?

It's the usual suspects, according to this italian article on the same subject it's:

Goldman Sachs, Morgan Stanley, JP Morgan, Citigroup, Bank of America, Deutsche Bank, Barclays, Ubs, Credit Suisse

http://www.repubblic...hieri-10127353/ (read it with google translate)

What's going on with the NYT? Have they had an epiphany? First the WikiLeaks stuff, then reporting about banking elites?

Actually the italian article is a lot more direct and to the point, I find the NYT article is trying to fudge things and to muddle the subject to make it all seem more harmless than the daylight robbery it really is.

Edited by wise_eagle

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Guest UK Debt Slave

A big bankster cartell to make huge profits without risk.

Well! What a surprise eh?

Seems to me like the entire financial system is rigged to screw ordinary people out of their savings, pensions, investments and transfer that wealth to a clique of insiders.

Is anyone really surprised this is happening?

The whole idea of the New World Order is to destroy the middle class, to destroy all private property rights and ownership for all but the very wealthiest and to reduce everyone to serfdom

Oh, but all that New World Order stuff is just wild eyed conspiracy theory only believed in by paranoid nutters

Edited by UK Debt Slave

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I'm not a conspiracy theorist as a rule but I have wondered if there were powerful informal cliques of big players operating on the stock markets for some time. I don't necessarily believe there's one single secretive banking elite so much as a number of groupings. If you're big enough, and you make big enough deals, then you can be pretty certain that buying a block of shares in a company will send the price up, and then you can sell at a profit. When you do sell your big block, it's a safe bet that the price will drop again. You'd just have to be careful you don't get caught out by factors not specific to the target company, like bad news in the sector or the markets generally.

There have always been these powerful cliques since the inception of markets. It's just that the certainty of spending one's life in a cold dark cell with a boyfriend named Bubba has kept them from carrying out their plans. Seems lately this threat has disappeared, hence the criminal activity.

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Dont the Rochchilds and several other big institutions / families still own the fed which is a seperate company and under no control of the American goverment.

As I understand the Fed can print money out of thin air which the goverment has to buy of them at face value plus interest. Those people are the world order if one actually exists.

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Dont the Rochchilds and several other big institutions / families still own the fed which is a seperate company and under no control of the American goverment.

As I understand the Fed can print money out of thin air which the goverment has to buy of them at face value plus interest. Those people are the world order if one actually exists.

There really is a lot of b0llocks spouted about this stuff. The shareholders are the various Fed district banks (in Boston, New York, st. Louis etc.). all this talk about the Rothchilds having a share is absolute and complete nonsense. I agree that the FED is not a branch of government but profits do go back to the government (taxpayer) eventually. Having said that, it is uncontitutional and serves the interets of the banks, not "we" the people. For that reason it needs disbanding and money creation given back to the Treasury where it belongs. The Creature of Jekyll Island is still (IMO) the best book written on the subject.

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There really is a lot of b0llocks spouted about this stuff. The shareholders are the various Fed district banks (in Boston, New York, st. Louis etc.). all this talk about the Rothchilds having a share is absolute and complete nonsense. I agree that the FED is not a branch of government but profits do go back to the government (taxpayer) eventually. Having said that, it is uncontitutional and serves the interets of the banks, not "we" the people. For that reason it needs disbanding and money creation given back to the Treasury where it belongs. The Creature of Jekyll Island is still (IMO) the best book written on the subject.

A year ago I would have agreed that it needs disbanding. But I've gone over to the dark side. I actually think some form of nationalization is warranted, but with policy set collectively by a committee of 'wise folk'. Not too far removed from the present UK system. I also would like to see 100% reserves and a credit-based currency (banks become public utilities, effectively).

What worries me now about disbanding the Fed is the predatory nature of the international currency markets. The Fed can actually be a firewall in this respect, a valuable guard against predatory attacks. Completely removing could be very dangerous.*

I also believe that it is necessary to set up a net constitutional amendment that somehow integrates the fiscal and monetary policy of the US.

*I don't know if you are aware of it, but Greenspan approached Congress in 2006 because there was a cartel of business megacorps (including Walmart) trying to set up a parallel currency in America. Greenspan was extremely concerned about this. I don't know the outcome, or whether there was any legislation implemented.

Edited by Toto deVeer

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Who owns the NYT? Do they have other interests?

Maybe the printed press is realising people are sick and tired of them taking the pi$$ and not reporting anything.

Maybe if newspapers didnt censor news they'd be as popular as online blogs and forums.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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