It's now obvious why the market ``crashed``

It's time, folks.
Let's put our fears aside & SHOW them that we're mad as hell & we aren't gonna take it anymore!
We need to fight fire with fire.
Everyone needs to stop paying their mortgages. Now!
We must cut off their blood supply.
They can't evict everyone. They can't tie up the court system.
They'll be so buried in paperwork & the sheriff dept. doesn't have the man power capable of serving everyone a foreclosure notice.
It will put a strangle hold on them.
Take your money & get that new mattress you want. Your kid wants a bicycle, take that mortgage money & go get it for him. Behind on your utility bills, you now have the money. What? Your car needs repaired? Go get that done. We need safe vehicles on our roads.
I'm being completely serious. Serious as a heart attack.
We must all stand together & boycott all mortgage companies, thus boycotting the big banks.
We need to show them that WE are in control.
I owe $107,xxx.00 on my mortgage, but my house is now only worth $58,xxx.00. They need to adjust all of these mortgages to show the real value or it should be considered gouging during a time of emergency.
So, what does everyone say??????????
We can screw them royally & we need to NOW!!!!!!!!

This does raise an important issue.

Should a Stock Market Decline Stop Us From Breaking Up the Giant Banks or Fully Auditing the Federal Reserve?

Of course it is just that easy for the The Feds to crash the market. The SEC is investigating this today, (of course we know they will not
incriminate themselves) The SEC knows that the large banks in bed with the Feds do have this power.

U.S. regulators plan to examine whether securities professionals triggered yesterday’s stock- market plunge or exploited the turmoil to profit illegally, two people with direct knowledge of the matter said.

The Securities and Exchange Commission aims to determine if market participants accidentally or maliciously entered orders that derailed normal trading, the people said, declining to be identified because the inquiry isn’t public. The agency will also examine if controls to prevent the rout from snowballing weren’t in place at exchanges and firms.

www.bloomberg.com...

This is what the banksters know:
As of 2007, the bottom 50% of the U.S. population owned only one-half of one percent of all stocks, bonds and mutual funds in the U.S. On the other hand, the top 1% owned 50.9%.

And the divergence between the wealthiest and the rest has only increased since 2007.

1.bp.blogspot.com...


[edit on 7-5-2010 by burntheships]

reply to post by Vitchilo


While it does appear the sell off could be related to that.. the actual crash does, it turns out, appear to be a computer glitch. There were many stocks that for about 20 minutes the "buy" order could not be processed.. the result was many computers trying to sell a stock with no buyer. Because the computers are not people they did not see the error, they simply processed that they were holding very expensive stocks with no buyers.. ie, get the hell away from those stocks! ... Computers from numerous institutions all processed this at the same time because the issue was a centralized glitch as Nasdaq. For instance, if you look at P&G or Citi you will see a sudden crash with ZERO volume... meaning no one was buying, but everyone was trying to sell.. in 10 mins almost $1 trillion dollars were wiped out because of a simple computer issue. Amazing.

reply to post by WhiteDevil013
The banks always did own the Americas. It started with King Ferninard and Queen Isabella of Spain when they offically opened the Americas to trade and plunder after the return of Christopher Colombus

Originally posted by Afterthought
It's time, folks.
Let's put our fears aside & SHOW them that we're mad as hell & we aren't gonna take it anymore!
We need to fight fire with fire.
Everyone needs to stop paying their mortgages. Now!

no, how about we don't do that. What about if everyone was real diligent about paying off all their debt and found a way to live within their means. Then they could live in a cash/trade world and thus showing the banks their ass. This is all about personal responsibility. I know it isn't a popular term, but it is the truth. The way to eliminate the bankers holding your gonads hostage, is to eliminate your personal need for the bank. Lots of regular people do it. Sell the 4 bedroom 3 bath house and buy a 2 bedroom house with the equity (when and if it comes back) and then pay off any loans you have. Never borrow again. Save you money. Do all the things your grandparents preached about. that is the way to stick it to the man. Who is with me?!!!

//crickets chirping//

What about if everyone was real diligent about paying off all their debt and found a way to live within their means. Then they could live in a cash/trade world and thus showing the banks their ass. This is all about personal responsibility.

//crickets chirping//

I agree with you, but we are getting screwed so bad with their ridiculous interest rates that I don't feel as though this will be possible. Most americans have bought into the idea that it's all about keeping up with the Jones's & that you need to purchase the next best ipad or cell phone, that people are addicted as if it's heroine.

I don't have a big, flat-screen TV. I only have the local channels. I don't even have a CD player in my car. I have never had a need to keep up with the neighbors because that's the way I was brought up.

Maybe you're right & we'll just have to wait for everything to implode. I'll try not to cry too hard. I don't want to become dehydrated.

Originally posted by Vitchilo
Know what was planned today for a vote in the senate?

A vote to BREAK UP THE BIG BANKS.

Here BNO, as a source

And here's huffingtonpost, a pro-Obama source

Senate votes 61-33 against a proposal to require giant U.S. banks to split up

This was a direct threat... DO THAT AND THE ECONOMY IS DEAD, WE OWN YOU.

This is not different from September 2008 when the bankers, Paulson in particular, threatened martial law, blood in the streets and the stock market plunging a few thousands points if they did not get their bailout.

THIS IS FINANCIAL TERRORISM PEOPLE.

The banks have taken over the US!

WAKE UP.

EDITED TO ADD LINKS.

[edit on 6-5-2010 by Vitchilo]

The Euro is trading at the exact prices that the Illuminati Glaobalist that control it want it traded at. Period

The Euro is a currency that has no tanglible backing to it. It's the only currency in the world that is not represented by a specific country of origin.
In other words the Euro is the poster child for fiat-currency, which is currency with not tangible solid material backing it. either with Gold or even a Country.

This is why the Greek economy is collapsing, because they put their stake in paper that is not even worth the ink it's printed with.

Our brothers at AHM have just broken down the entire Greek finiancial debacle for you to see.

Check it out for yourselves, then ask yourself why Greece in imploding:

rikijo.blogspot.com...

reply to post by Vitchilo


yeppers, read that one yesterday my god, are you a mind reader or i find that some one is finally as observant as myself?
very nice op
S&F

reply to post by allprowolfy


I agree that the "b" and "m" or BM excuse does not hold water. The simple test of that theory is that if it were truly possible to have this simple mistake of two characters which are one letter apart of on the keyboard then it would have happened before - plain simple. It has not happened before therefore it did not happen yesterday. It does not make sense from a software perspective for a countless number of reasons.

Originally posted by marg6043
reply to post by Vitchilo

 

But this means that that 1 trillion really doesn't exist, is nothing but computer generated image of something that is and never was there.

That's what everyone needs to focus on.
Truthfully I don't care if they lose all their funny money.
The combined deposits in banks is only 500 Billion. That crap doesn't exist the fat cats can start jumping out of windows. If it doesn't exist physically it doesn't exist.
Its called gambling people..PROFIT WAS NEVER GUARANTEED!

Originally posted by network dude

Originally posted by Afterthought
It's time, folks.
Let's put our fears aside & SHOW them that we're mad as hell & we aren't gonna take it anymore!
We need to fight fire with fire.
Everyone needs to stop paying their mortgages. Now!

no, how about we don't do that. What about if everyone was real diligent about paying off all their debt and found a way to live within their means. Then they could live in a cash/trade world and thus showing the banks their ass. This is all about personal responsibility. I know it isn't a popular term, but it is the truth. The way to eliminate the bankers holding your gonads hostage, is to eliminate your personal need for the bank. Lots of regular people do it. Sell the 4 bedroom 3 bath house and buy a 2 bedroom house with the equity (when and if it comes back) and then pay off any loans you have. Never borrow again. Save you money. Do all the things your grandparents preached about. that is the way to stick it to the man. Who is with me?!!!

//crickets chirping//

When there is 7 cents of debt attached to every dollar at creation explain how we pay off debt?

And for every dollar of yours they create 10 more with more debt attached to them.

It is a fraud, scheme, grift, con, robbery.

Ive never borrowed a dime from a bank in my life but I am certainly not with you. People need to look at facts, they have an insatiable greed that cannot be satisfied.

People are being bamboozled into believeing your solution is viable. They have bought that old line for generations and its part of why were in this mess.

I want to put my two cents in on this crash from yesterday.

First things first remember anyone who said, even if they later recanted, "That a 'b' instead of an "m" key was hit." Unless that person was joking or being sarcastic, that person thinks that you are STUPID.

Listen to the pit audio from zerohedge. Listen to the fear and then pay attention to who steps in right at the end buying and running the tape back up (JPM and Meryl Lynch/BoA). PPT or both buying for their own book? why are they allowed to take FDIC insured deposits and speculate in a market that can drop 1K points when the computers go down? Those are the questions I want answered.

Those who have said that alot of this runnup has simply been the big HFT programs at the big banks borrowing at zero interest and passing shares amongst themselves all the way up have a real point.

I've got to hand it to Denninger and the anonymous wonders over at zerohedge. I'm thinking they are closer to the truth than any of the drivel that comes out of CNBC nowdays.

Originally posted by ISHAMAGI

Originally posted by network dude

Originally posted by Afterthought
It's time, folks.
Let's put our fears aside & SHOW them that we're mad as hell & we aren't gonna take it anymore!
We need to fight fire with fire.
Everyone needs to stop paying their mortgages. Now!

no, how about we don't do that. What about if everyone was real diligent about paying off all their debt and found a way to live within their means. Then they could live in a cash/trade world and thus showing the banks their ass. This is all about personal responsibility. I know it isn't a popular term, but it is the truth. The way to eliminate the bankers holding your gonads hostage, is to eliminate your personal need for the bank. Lots of regular people do it. Sell the 4 bedroom 3 bath house and buy a 2 bedroom house with the equity (when and if it comes back) and then pay off any loans you have. Never borrow again. Save you money. Do all the things your grandparents preached about. that is the way to stick it to the man. Who is with me?!!!

//crickets chirping//

People are being bamboozled into believeing your solution is viable. They have bought that old line for generations and its part of why were in this mess.

I am sorry to tell you, but no. Not even close. We are in this mess because we decided to live in fantasy land. All of us did. We made credit cards turn into a life blood instead of a convenience. I did it, I know plenty of folks who did as well. But it's time for a change. A re-education. My grandparents preached this way of life. They did a lot with a little. That is the ultimate punishment to the system that enslaves us. Learn from this instead of spending all your time trying to victimize someone. Change starts with you, change starts with me.

reply to post by network dude


Well said Brother.. the banks only took advantage of the Ignorant.. the majority of the people knew where the risks were and chose to ignore them. It's an uphill battle though, especially when it comes to mortgages and cars.. even more especially so when your young, as I am, worth next to nothing.

Oh ya... an update as to why the market crashed. Newest theory by the SEC/White House and NYSE: Computers compiling data regarding surging Yen, debt crisis, flight from European treasuries and a falling stock market decided that a SHTF scenario finally occured and began systematically dumping shares. Because these computers operate in miliseconds, not seconds or minutes, it seem instant...... though we depend on these computers to manage our largest funds.... when they give us bad news, we tell the computers that they are wrong. The Government is looking into rules regulating when and if a computer is allowed to dump shares now. Because we allllll love the "free" market.

The Euro is trading at the exact prices that the Illuminati Glaobalist that control it want it traded at. Period

The Euro is a currency that has no tanglible backing to it. It's the only currency in the world that is not represented by a specific country of origin.
In other words the Euro is the poster child for fiat-currency, which is currency with not tangible solid material backing it. either with Gold or even a Country.

This is why the Greek economy is collapsing, because they put their stake in paper that is not even worth the ink it's printed with.

Our brothers at AHM have just broken down the entire Greek finiancial debacle for you to see.

Check it out for yourselves, then ask yourself why Greece in imploding:

rikijo.blogspot.com...

Hey I just want to say much thanks for posting that link. I would say that it encompasses MUCH of what my own research (and MUCH MUCH more) has led me to in recent years.

I encourage you all that are following the trends that we see unfolding before our very eyes with Greece and the entire world to visit that link above. A WEALTH of what I believe to be very credible well thought out material.

I actually found a link through that link that introduced me to a study that had been done in 1974, BUT YOU WOULD THINK THEY HAD A CRYSTAL BALL!! Because I am here to tell you all...this:

www.onlinejournal.com...

"The Planned Collapse of America"

:They developed a strategy to revitalize America's motivational images, symbols and institutions, outlining five separate approaches to the problem, describing the pluses and the pitfalls of each, according to their effects upon society. These approaches are defined as "restorative, simulative, manipulative, persuasive and facilitative." Restoration of crumbling icons works best in the early stages of societal transformation (revitalization cycle). The simulative strategy introduces new ideas, whenever the collapse of the old order becomes apparent. The manipulative strategy seeks to limit individual freedoms. Persuasive propaganda phase is to be coupled with proven mind control techniques, to keep down the social upheaval and shape the emerging image.

"No doubt existing consciousness-changing, behavior-shaping, subliminal persuasion, and other conditioning techniques could be used to accomplish some sort of transformation of sobering proportions (we ought to be able to be more effective than Nazi Germany). After previously citing Nazi reinvigoration of the Germanic icons and ideals."

The transforming revitalization process mirrors the psychiatric process of leading a patient through a psychotic break and the restructuring of his life, but on a national scale.

Once the transformation becomes apparent, social stability will become a problem, especially when society feels pushed by overextending the simulative stage. Actions taken to increase the polarization between "transformation enthusiasts and the conservatives" are called "constructive," except when it is desirable to take actions that "contribute to social cohesion." They were searching for the best path to bring about a controlled deconstruction of everything that "America" means and the reconstruction of a new improved vision of America. They are midwifes to the delivery of the "New World Order," as they go about the dirty business of guiding society through that predicted period of "friendly fascism."

I believe might just very well be TPTB PLAYBOOK!! Thoughts?

There was a lack of liquidity at lower levels on SP500 Futures. Institutional Sellers came in and took out all bids when they saw the bid/ask differential widen exponentially.

If you want proof of this I provided it in the market thread along with 5x5 on both sides of the BID/ASK liquidity levels. Usually, during peak hours, we have around 500+ contracts on each level for 10 levels (so, 10,000 contracts, thats even an understatement). There was LESS THAN 100 CONTRACTS IN SUMMATION ON BOTH SIDES OF THE BOOK. This is nuts.

What happened was a syndicate or "paper selling" stepped into the pits in the SP 500 futures, saw this bid/ask differential spread and took out all the bids until there was this low liquidity. At this point they can "game" the market, the SP500 Futures correlates with about every security that trades. You can see where it gets interesting here.

The SP500 tick size is .25 This means that for every 1 Full SP500 point there are 4 ticks (.25 x4). Usually the spread is just 1 tick (.25). During this time there was a 10 HANDLE SPREAD. Meaning there was 40 TICKS BETWEEN THE NEAREST BID AND ASK. This is nuts because 1 contract you are automatically giving up $500 on the spread, when usually it is 12.50. You can do this math by multiplying tick value x spread. Tick value = 12.50 a tick * 4 = 1 point ($50/point) and $50 point * 10 = $500.

This syndicate or "paper selling" threw in buy limit orders at the 200 DAY MA in the SP500 (all IMO). Once they covered on the 200 MA they reversed and the market literally snapped back instantly. They easily moved billions of dollars not only there I am guessing but were simultaneously selling/buying calls I am sure through another "shadow" participant.

This IMO would be the most effective way for this syndicate to operate, as well as easily the most efficient. If you want to download all the data it is a few pages back in the "up to the minute market thread". I posted a link for you to DL via rapidshare or whatever it is.

Before you think this has never happened before, guess again. This happens literally all the time in illiquid stocks, mostly biotechs before a FDA panel release. I have heard (true) stories of the biggest players on the street sitting on cell phones where they have their goons sitting in on the panel release literally moving seconds before the real time news is let out in the MSM to profit in millions and millions of dollars instantly.

If you need an example to look at, the most interesting IMO is Dendrion last year. In fact they just jumped again, but if you google it ("DNDN" + "Bear Raid") you will be quite impressed at what you can do when you see all levels of displayed liquidity and a margin account of 9 figures +.

We can see all liquidity as well, on all levels, but it will cost you a lot in monthly subscription fees. If you want NYSE Open Book and NASDAQ Clearview along with trade imbalances you are talking literally $10,000+ per month in subscription fees. So, when people say it isn't fair, actually it is really fair in a "prison rules" sort of way. But that is a lesson why you don't swim in the shark tank and you must clearly define your risk at all times.

Someone (gov.) obviously released this "fat finger" to media to immediately calm international/domestic participants. Anyone that has a financial background knew this was pretty bogus immediately. Especially when you can see the Time and Sales and then hear the paper sellers walk into the pit on the audio squawk box and punish the market on a thin tape.

This time it just hurt a lot more than some biotech speculators, it scared the international community. I guess you can call this "manipulation" but in reality it is directly a result of HFT boutiques cutting liquidity when their models broke down and a syndicate taking advantage of a feeble marketplace.

On one hand it is hard to say it is illegal all the sudden to make money off of advantageous situations. I don't think what they did was technically out of bounds. There will most likely be regulation now where liquidity providers (HFT) must keep a certain level of capital in play at certain levels and there will also now probably be a fee for canceling "x amount" of volume within a certain amount of seconds.

This will probably hurt spreads somewhat, mostly in equities and thinly traded derivatives, but it is sadly needed because this was truly a black eye for credibility in retail player's eyes.



[edit on 8-5-2010 by GreenBicMan]

[edit on 8-5-2010 by GreenBicMan]

they said a trader put a b instead of an m when he tried to make a trade, therefore making it billions instead of millions. now way was that an error you just don't type in 100 billion instead of 100 million and press enter like they said the trader did. i can even close this tab with internet explorer prompting me to make sure i wanted to close the tab. im sure multi-million dollar transactions require multiple confirmations before they are accepted. when you type in numbers in financial transactions you use numbers not words because complex mathematical formulas and programs are used to process them. this is all bullsh-t. this was just a test to push the envelope a little farther. as usual nothings been done. a few people just scammed a 100 million from the stockmarket and idiots with 5,000 in their portfolio just saw all their stocks lose a few bucks to make up the difference. you want to make money in the stock market do the opposite that every broker that works for a bank advises you.

The "fat finger" excuse is the most bodacious lie I've ever heard. It's really true that crooks aren't smart. B instead of M would result in nillion or ,illion. B & M are not adjacent.

A long term selective boycott would send a message. Pulling every "investment", too, would send a bigger one. (even at a loss. What kind of losses are people going to take when they quit threatening & do this for real?)

We NEED a constitutional convention, People. They are never going to act against their own interests nor in favor of ours. How can we complain about "sternly worded letters" when we don't do more than that ourselves? They are UNDER CONTRACT to US.