Guest vicmac64 Posted November 12, 2007 Share Posted November 12, 2007 I was just thinking - is it possible that two events are related? Personally I wouldn't trust the banks the Stock Exchanges or the Govt, what do you think ' is there any chance the increased in the share value of the banks is connected to the supposed glitch in the system last week? ' Quote Link to comment Share on other sites More sharing options...
Guest vicmac64 Posted November 12, 2007 Share Posted November 12, 2007 OK I know its my own reply and that it says I believe in conspiracies - so do you think it is possible or not? Quote Link to comment Share on other sites More sharing options...
A.steve Posted November 12, 2007 Share Posted November 12, 2007 OK I know its my own reply and that it says I believe in conspiracies - so do you think it is possible or not? No, I do not think you've the slightest shred of evidence for that conjecture. I was, however, very surprised that the glitch with calculating the FTSE indices affected all feeds, and suspicious at the extraordinary extended trading on the day... I think it bizarre that there has been no detailed technical explanation about what was affected and why... such uncertainty can only dent confidence - can't it? Quote Link to comment Share on other sites More sharing options...
BROF Posted November 12, 2007 Share Posted November 12, 2007 ok. noone else is biting. go on then....whats the theory?? Quote Link to comment Share on other sites More sharing options...
Guest d23 Posted November 12, 2007 Share Posted November 12, 2007 OK I know its my own reply and that it says I believe in conspiracies - so do you think it is possible or not? it was the shape shifting lizard bilderberg skull and bones ruling elite obviously. The bbc reported the software glitch 5 minutes before it happened. don't expect the sheeple mainstream media to report on this tho Quote Link to comment Share on other sites More sharing options...
Guest vicmac64 Posted November 12, 2007 Share Posted November 12, 2007 ok. noone else is biting. go on then....whats the theory?? My simple theory is a theory of conjecture - if this was a software update with a few bugs in it? and it caused the stock systems to go pie eyed for a few minutes. Something I am told is relatively unheard of - but it happens to happen when 'banking stocks are falling fast' or so I am led to believe... And then I start wondering why America Bank stocks are still falling but UK bank stocks are rising - maybe I've got this all wrong allegedly. So you persuade me that our financial 'masters and rulers' would be incapable of such a thing>> Quote Link to comment Share on other sites More sharing options...
Guest vicmac64 Posted November 12, 2007 Share Posted November 12, 2007 You fool, please reviewhttp://www.businessweek.com/bwdaily/dnflas...gn_id=rss_daily MAY 23, 2006 By Dawn Kopecki Intelligence Czar Can Waive SEC Rules Now, the White House's top spymaster can cite national security to exempt businesses from reporting requirements President George W. Bush has bestowed on his intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations. Notice of the development came in a brief entry in the Federal Register, dated May 5, 2006, that was opaque to the untrained eye. cgnao - you have come up trumps again - its there in black and white, financial allegedly 'corruption' at allegedly the highest level. Quote Link to comment Share on other sites More sharing options...
Guest vicmac64 Posted November 12, 2007 Share Posted November 12, 2007 You fool, please reviewhttp://www.businessweek.com/bwdaily/dnflas...gn_id=rss_daily MAY 23, 2006 By Dawn Kopecki Intelligence Czar Can Waive SEC Rules Now, the White House's top spymaster can cite national security to exempt businesses from reporting requirements President George W. Bush has bestowed on his intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations. Notice of the development came in a brief entry in the Federal Register, dated May 5, 2006, that was opaque to the untrained eye. In fact this is political and economic dynamite. Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted November 12, 2007 Share Posted November 12, 2007 the rally in banking shares was due to the strength of Barclay's denial about how much they were in for having said that, i suspect that by 8.05 a.m. tomorrow the shares will be back to where they were on Friday morning Quote Link to comment Share on other sites More sharing options...
jonpo Posted November 12, 2007 Share Posted November 12, 2007 (edited) My simple theory is a theory of conjecture - if this was a software update with a few bugs in it? and it caused the stock systems to go pie eyed for a few minutes. Something I am told is relatively unheard of - but it happens to happen when 'banking stocks are falling fast' or so I am led to believe...And then I start wondering why America Bank stocks are still falling but UK bank stocks are rising - maybe I've got this all wrong allegedly. So you persuade me that our financial 'masters and rulers' would be incapable of such a thing>> As someone personaly connected with Exchange technology for many years. your conspiracy theory is UNTHINKABLE. your postulation that a system outage of a publicly listed company dependant on high uptime for its most mission critical system. is connected to the prices of bank shares is voodoo to say the least. *Many system issues are capacity related and hence its totally not a suprise it when goes down in volatility *Despite much vaunted reliability The LSE programmmers are human! normal code has 1 bug per 10 lines of code * The LSE have just had some of the most substantial system upgrades for some years becuase OF MIFID! the timing of the outage is hence as surprising as finding the moon is not made from cheese. *how many times does your computer crash or do something unexpected ? now think about what it would be like to trade trillions of pounds of 'stuff' on it? seriously until you have seen a $2-3 million dollar computer crash unexpectedly and the hardware vendor claim its because of cosmic rays .... fair play to them for keeping it up for so long though. Exchanges are made from software this software has bugs. this is 100% correct Guarenteed! Edited November 12, 2007 by jonpo Quote Link to comment Share on other sites More sharing options...
A.steve Posted November 12, 2007 Share Posted November 12, 2007 You fool, please review... Intelligence Czar Can Waive SEC Rules Thanks for the disparagement, but (this time, at least) it seems that you've posted an utter non sequitur. This article is about the mechanism by which US security services permit defence contractors to fudge their accounts so as not to divulge secrets... Sure, it could be misused... as could anything done by a covert organisation with state sponsor... but you need more evidence than that that it is being abused. I also fail to see any link between waiving SEC rules (fraudulently or otherwise) and the FTSE indices being mis-calculated in the UK. Quote Link to comment Share on other sites More sharing options...
Impartial Posted November 12, 2007 Share Posted November 12, 2007 it was the shape shifting lizard bilderberg skull and bones ruling elite obviously. The bbc reported the software glitch 5 minutes before it happened. don't expect the sheeple mainstream media to report on this tho LMAO Nice One Quote Link to comment Share on other sites More sharing options...
South Lorne Posted November 12, 2007 Share Posted November 12, 2007 As someone personaly connected with Exchange technology for many years. your conspiracy theory is UNTHINKABLE. your postulation that a system outage of a publicly listed company dependant on high uptime for its most mission critical system. is connected to the prices of bank shares is voodoo to say the least.*Many system issues are capacity related and hence its totally not a suprise it when goes down in volatility *Despite much vaunted reliability The LSE programmmers are human! normal code has 1 bug per 10 lines of code * The LSE have just had some of the most substantial system upgrades for some years becuase OF MIFID! the timing of the outage is hence as surprising as finding the moon is not made from cheese. *how many times does your computer crash or do something unexpected ? now think about what it would be like to trade trillions of pounds of 'stuff' on it? seriously until you have seen a $2-3 million dollar computer crash unexpectedly and the hardware vendor claim its because of cosmic rays .... fair play to them for keeping it up for so long though. .....puts it into perspective....good PR explanation....in particular "The LSE have just had some of the most substantial system upgrades for some years becuase OF MIFID! "......seems plausible..... Quote Link to comment Share on other sites More sharing options...
Guest vicmac64 Posted November 12, 2007 Share Posted November 12, 2007 As someone personaly connected with Exchange technology for many years. your conspiracy theory is UNTHINKABLE. your postulation that a system outage of a publicly listed company dependant on high uptime for its most mission critical system. is connected to the prices of bank shares is voodoo to say the least.*Many system issues are capacity related and hence its totally not a suprise it when goes down in volatility *Despite much vaunted reliability The LSE programmmers are human! normal code has 1 bug per 10 lines of code * The LSE have just had some of the most substantial system upgrades for some years becuase OF MIFID! the timing of the outage is hence as surprising as finding the moon is not made from cheese. *how many times does your computer crash or do something unexpected ? now think about what it would be like to trade trillions of pounds of 'stuff' on it? seriously until you have seen a $2-3 million dollar computer crash unexpectedly and the hardware vendor claim its because of cosmic rays .... fair play to them for keeping it up for so long though. so how do you explain Fridays pulses - and I would remind you I am merely raising a question not making an accusation. Do I trust our entire financial system - absolutely categorically I do not ! I have not for a good many years. And its nothing to do with conspiracies however it is everything to do with simple mathematics. Try as you might like to - a country just like a person and purchases more than it sells will eventually go bankrupt THAT IS A FACT So when I see such imprudence I am wary of everything we are told, and treat everything with suspiscion that comes from a suposed reputable financial background. The financial institutions and govts have only themselves to blame for my and many peoples suspicion and disbelief of their statements. Quote Link to comment Share on other sites More sharing options...
A.steve Posted November 12, 2007 Share Posted November 12, 2007 fair play to them for keeping it up for so long though. I'd not call it incompetent if it "fail-stopped" - i.e. it went wrong and said "Sorry - can't tell you the answer, Dave." I do consider it incompetent to give wrong *BUT VAGUELY CREDIBLE* answers... That's the worst kind of software fault... and, while I'm not so bold as to say "inexcusable" - I do think an incident on this scale demands a full explanation... "It was just a bug" simply doesn't wash with this software professional. I'm not a conspiracy theorist... quite... but if the software used to monitor the world economies is as flaky as that.... maybe we should all be digging our own shelters and turning into survival nut-cases. To me the question that should be raised is credibility. If the FTSE calculations could go awry then - how can I be sure they're not wrong now, or tomorrow... Can I be sure that the wrong values published next time around will make me suspicious? Quote Link to comment Share on other sites More sharing options...
Guest vicmac64 Posted November 12, 2007 Share Posted November 12, 2007 I'd not call it incompetent if it "fail-stopped" - i.e. it went wrong and said "Sorry - can't tell you the answer, Dave."I do consider it incompetent to give wrong *BUT VAGUELY CREDIBLE* answers... That's the worst kind of software fault... and, while I'm not so bold as to say "inexcusable" - I do think an incident on this scale demands a full explanation... "It was just a bug" simply doesn't wash with this software professional. I'm not a conspiracy theorist... quite... but if the software used to monitor the world economies is as flaky as that.... maybe we should all be digging our own shelters and turning into survival nut-cases. To me the question that should be raised is credibility. If the FTSE calculations could go awry then - how can I be sure they're not wrong now, or tomorrow... Can I be sure that the wrong values published next time around will make me suspicious? no reply from jonpo and I'll be surprised if we get a full explanation from him - I know nothing about advanced computers but it is strange he hasn't been able to answer A.Steves questions in full. Perhaps he has very little to do with the stock exchange after all.. ha ha Quote Link to comment Share on other sites More sharing options...
Guest d23 Posted November 12, 2007 Share Posted November 12, 2007 no reply from jonpo and I'll be surprised if we get a full explanation from him - I know nothing about advanced computers but it is strange he hasn't been able to answer A.Steves questions in full. Perhaps he has very little to do with the stock exchange after all.. ha ha you sound quite sore that your latest apocalyptic prediction for this monday was proven to be another damp squib. Quote Link to comment Share on other sites More sharing options...
A.steve Posted November 12, 2007 Share Posted November 12, 2007 strange he hasn't been able to answer A.Steves questions in full. Perhaps he has very little to do with the stock exchange after all.. It was rhetorical. I strongly suspect that this glitch can be explained by inept management and incompetent engineering (quite possibly with some personal excuses.) The point is this... If the systems (both human and computer based) are this unreliable, how straightforward it must be to cover-up large scale fraud. Quote Link to comment Share on other sites More sharing options...
Guest vicmac64 Posted November 12, 2007 Share Posted November 12, 2007 you sound quite sore that your latest apocalyptic prediction for this monday was proven to be another damp squib. who me - I predicted nothing for today - now tomorrow who knows? But d23 rest assured the markets governments and the banks have lit something a lot bigger than a damp squib.......... ITS JUST A MATTER OF TIME Quote Link to comment Share on other sites More sharing options...
R K Posted November 12, 2007 Share Posted November 12, 2007 I was just thinking - is it possible that two events are related?Personally I wouldn't trust the banks the Stock Exchanges or the Govt, what do you think ' is there any chance the increased in the share value of the banks is connected to the supposed glitch in the system last week? ' None whatsoever. Get a grip man. Quote Link to comment Share on other sites More sharing options...
Guest vicmac64 Posted November 12, 2007 Share Posted November 12, 2007 It was rhetorical. I strongly suspect that this glitch can be explained by inept management and incompetent engineering (quite possibly with some personal excuses.)The point is this... If the systems (both human and computer based) are this unreliable, how straightforward it must be to cover-up large scale fraud. PRECISELY Quote Link to comment Share on other sites More sharing options...
jonpo Posted November 12, 2007 Share Posted November 12, 2007 so how do you explain Fridays pulses - and I would remind you I am merely raising a question not making an accusation.Do I trust our entire financial system - absolutely categorically I do not ! I have not for a good many years. And its nothing to do with conspiracies however it is everything to do with simple mathematics. Try as you might like to - a country just like a person and purchases more than it sells will eventually go bankrupt THAT IS A FACT So when I see such imprudence I am wary of everything we are told, and treat everything with suspiscion that comes from a suposed reputable financial background. The financial institutions and govts have only themselves to blame for my and many peoples suspicion and disbelief of their statements. Its software anything can and will happen if you let it happen. trust me when I say that there are things which can go wrong with computers and you just think.... what the hell 2+2=4.1 WTF? murphys law etc etc. the reliability of the system used for trading shares has nothing even slightly to do with the reliability of the pricing if those shares. the system probably cares not if the prices for the shares are 0 or 5trillion the prices are driven by the users of the system behind every order. think of it like this your car might be a reliable as a toyota hi-lux but its mechanical stability and physical saftey is not related to your being able to drive safely to the shops and back. you could be reckless. you could fall asleep at the wheel, you could be on DRUGS (turbo charged stimulants maybe ). the two factors the relibility of the car and the safety of the driving system are not related in a meaningful way. arbitrage means the prices will always be market prices dealers across the city calculate fair values for the indexes and the ftse futures are traded on LIFFE which did not go down at the same time and would have provided a price discovery mechanism during the cash market outage. I wouldn't trust the 'entire' financial system either there is too much money riding on it not to be rigged however most exchanges are fairly free and fair markets where access is controlled by a cartel (brokers) they are publicly visible people know what the securities on them are worth. they are 'level1' Quote Link to comment Share on other sites More sharing options...
Guest d23 Posted November 12, 2007 Share Posted November 12, 2007 (edited) who me - I predicted nothing for today - now tomorrow who knows? my apologies, you last predicted financial meltdown for last Friday, not today. which may go some towards explaining your eagerness to believe your latest conspiracy theory. Edited November 12, 2007 by d23 Quote Link to comment Share on other sites More sharing options...
Guest vicmac64 Posted November 12, 2007 Share Posted November 12, 2007 my apologies, you last predicted financial meltdown for last Friday, not today. d23 nothing to apologise for at all - I got it wrong for Friday though it was a bad day. But like I say - there are worse to come its only a question of time. My posts intention is to question if we should take everything in the market to be unrelated sporadic events, I do not believe that is so - I think there are many vested interests in this ponzi scheme that we now live in. I also know from experience that computers give a great cover - you can blame almost anything on them (I'm not refering to you personally), faulty computing accounting systems can cover a magnitude of errors or fraud. I am not alleging this happened in the markets - I am merely asking do people think there could be a connection. Quote Link to comment Share on other sites More sharing options...
A.steve Posted November 12, 2007 Share Posted November 12, 2007 PRECISELY In that case, the only connection is that there may be complacency and incompetence endemic within the financial services industry. Plausible, I suppose, but not demonstrably causal. Its software anything can and will happen if you let it happen. trust me when I say that there are things which can go wrong with computers and you just think.... what the hell 2+2=4.1 WTF? murphys law etc etc. Remind me to make sure you're not on any safety critical team of mine. This stuff *can* be done correctly... it is possible to devise systems which meet specifications and are sufficiently reliable that we should be massively more worried at the possibility of being wiped out by a meteor. In any case, I'm not worried that the system failed. I am concerned at the feckless explanation that the fault was "technical" - and, by implication, nothing to worry about. Calculating an index is not rocket science... validating inputs is not rocket science. We don't even know if the fault was in calculation or in the data supplied to FTSE group that was later used to calculate the index. Not a conspiracy theory - but a cause for concern at management and accountability within the financial services sector. Quote Link to comment Share on other sites More sharing options...
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