Just today, typical rubbish commentary came from the New York Stock Exchange floor. As preface, note that over 75% of all NYSE trading volume is traced to Wall Street program trading. Their handy high speed, high frequency trading, also known as insider trading that taps into stock trade orders before they hit the exchange, now dominates the majority of trading activity. If that does not qualify as brokerage pit masturbation, what does??? The commentary went like this to explain the gold price runup, which is still early and still not significant yet in its jump. The charlatans on the NYSE explain the gold price moves up as technically based (therefore not real), as owing to the weak USDollar (not true in the last couple weeks at all), as a safe haven (intriguing if an epiphany is in progress), and as the result of light volume leading to high volatility (the ultimate in lame excuses). The Wall Street gang has really lost a lot of credibility. Why anyone even listens to them is a good question. When they run out of advertisement revenue to spend, we will be forced to listen to them less. Then they will use USGovt budgets to fund their statements in advertisements on financial networks. Ooops! They already do, from the USDept Treasury, when they were given control in 1992, and have commandeered it ever since.

Full article here

1 Comment

  1. koskesh 8 years ago

    …looks like he’s been hit in the chest!
    Nice shot…

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