truedelphi
truedelphi's JournalBig Shocker - Half of Future trades in Chicago are actually "Wash" trades
Half of all trades in the Chicago Commodites market are "wash" trades
The most stunning allegation in the lawsuit is that an estimated 50 percent of all trading on the Chicago Mercantile Exchange is derived from illegal wash trades.
Wash trades were a practice by the Wall Street pool operators that rigged the late 1920s stock market, leading to the great stock market crash from 1929 through 1932 and the Great Depression. Wash trades occur when the same beneficial owner is both the buyer and the seller. Wash trades are banned under United States law because they can falsely suggest volume and price movement.
A lawsuit filed in Illnois is related to a belief that some fifty percent of all commodities trades undertaken in the Chicago commodities markets are "wash trades."
http://wallstreetonparade.com/2014/07/lawsuit-stunner-half-of-futures-trades-in-chicago-are-illegal-wash-trades/
The lawsuit says Duffy and his management team are tolerating wash trades “because they comprise by some estimates fifty percent of the Exchange Defendants’ total trading volume and also because HFT transactions account
for up to thirty percent of the CME Group’s revenue.” And then, the complaint
indicates that the plaintiffs have a “Confidential Witness A,” a high frequency trader, who has given them a statement that wash trades are used by high frequency traders as part of a regular strategy to detect market direction and “to exit adverse trades when the market goes against their positions.”
The strategy works like this, according to the complaint:
“HFTs [high frequency traders] continuously place small bids and offers (called bait) at the back of order queues to gain directional clues. If the bait orders are hit, the algorithm will place follow-up orders to either accumulate favorable positions or exit ‘toxic’ risks, a process which leverages bait orders to gain valuable directional clues as to which way the market will likely move. The initial bait orders are very small while subsequent orders, once market direction has been identified, are very large. A portion of the large orders that follow the smaller bait orders are wash trades.”
Some reasons why Obama's Calif. Popularity is only 45%
This is cross posted over at GD. It is here through an invite from KamaAina.
Some reasons why Obama's Calif. Popularity is only 45%
At the top of the list would be the foreclosures that occurred inside the state of California between 2009 and 2011.
Here is some valuable research on what went on during the early years of the Obama Presidency:
http://www.responsiblelending.org/california/ca-mortgage/research-analysis/California-Foreclosure-Stats-April-2012.pdf
Bear in mind that even if your household did not go into foreclosure, much of the value of your home was lost. Since for over ten years, Californians had been told again and again that the best and safest place to invest their hard earned monies was the housing market, this was a serious blow to not only the activity of home ownership, but also reperesented wiping out many older people's hopes for a decent retirement income.
Another would be the secret deportation policy that was engineered between Governor Schwartzennegger and President Obama. This policy affected at least 100,000 individuals here in California. Even if you yourself were not deported, if a person you knew was, it altered your perception of the President. Here is one link that discusses the deportations, although it speaks of the situation in terms of the nation as a whole, and not jsut California. http://colorlines.com/archives/2012/12/us_deports_more_than_200k_parents.html
Also, the years of struggle to have medical marijuana dispensaries up and running was undone by Obama unleashing his DOJ appointee, Eric Holder, on the public. By early 2012, over 6,000 well paying jobs at dispensaries were lost, as dispensary after dispensary closed down. The Administration was so blatantly unconcerned about the effects of this policy that many raids occurred even into the 2012 election cycle!
A look at what goes on during one such raid:
http://my.firedoglake.com/elisemattu/2012/09/26/santa-rosa-calif-gets-hit-by-gestapo-today-092612/
Although it is true that Obama has more recently backed off from this policy, at least in terms of verbiage, the fact remains that the years 2009 through 2012 were years that the anti-cannabis forces were able to set up and infiltrate community after community. All this is in keeping with the Big Third Way Democrats' alliance with Big Pharma, Big Prison, and the militarization of the police.
Many cities now ban the growing of the substance, or have created planning commission provisons that totallyundermine the average person's ability to grow it. This suppression of a person's innate right to grow whatever they want on land they have legal access to is one reason why my community, Lake County, intends to be the first community to have a legal ordinance that establishes the right of any person that has land and seeds to grow those seeds.
Some reasons why Obama's Calif. Popularity is only 45%
At the top of the list would be the foreclosures that occurred inside the state of California between 2009 and 2011.
Here is some valuable research on what went on during the early years of the Obama Presidency:
http://www.responsiblelending.org/california/ca-mortgage/research-analysis/California-Foreclosure-Stats-April-2012.pdf
Bear in mind that even if your household did not go into foreclosure, much of the value of your home was lost. Since for over ten years, Californians had been told again and again that the best and safest place to invest their hard earned monies was the housing market, this was a serious blow to not only the activity of home ownership, but also reperesented wiping out many older people's hopes for a decent retirement income.
Another would be the secret deportation policy that was engineered between Governor Schwartzennegger and President Obama. This policy affected at least 100,000 individuals here in California. Even if you yourself were not deported, if a person you knew was, it altered your perception of the President. Here is one link that discusses the deportations, although it speaks of the situation in terms of the nation as a whole, and not jsut California. http://colorlines.com/archives/2012/12/us_deports_more_than_200k_parents.html
Also, the years of struggle to have medical marijuana dispensaries up and running was undone by Obama unleashing his DOJ appointee, Eric Holder, on the public. By early 2012, over 6,000 well paying jobs at dispensaries were lost, as dispensary after dispensary closed down. The Administration was so blatantly unconcerned about the effects of this policy that many raids occurred even into the 2012 election cycle!
A look at what goes on during one such raid:
http://my.firedoglake.com/elisemattu/2012/09/26/santa-rosa-calif-gets-hit-by-gestapo-today-092612/
Although it is true that Obama has more recently backed off from this policy, at least in terms of verbiage, the fact remains that the years 2009 through 2012 were years that the anti-cannabis forces were able to set up and infiltrate community after community. All this is in keeping with the Big Third Way Democrats' alliance with Big Pharma, Big Prison, and the militarization of the police.
Many cities now ban the growing of the substance, or have created planning commission provisons that totallyundermine the average person's ability to grow it. This suppression of a person's innate right to grow whatever they want on land they have legal access to is one reason why my community, Lake County, intends to be the first community to have a legal ordinance that establishes the right of any person that has land and seeds to grow those seeds.
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Name: CarolGender: Do not display
Hometown: Northern California
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Member since: Sun May 15, 2005, 02:28 PM
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