From: mansoor munir [mailto:[email protected]] Sent: Monday, July 13, 2009 5:59 AM To: Kantakji Subject: Goldman Sachs admits to developing a trading software that could be used to, "manipulate markets in unfair ways"
Danny Schechter, author of "PLUNDER; Investigating Our Economic Calamity" wrote an interesting piece last week titled "Are Markets being Manipulated by "Rogue Traders"?". Discussing Investopedia, a market players website dedicated to monitoring finance & possible market manipulation by traders, he wrote "It is a fascinating source of information for the uninitiated who hear the daily reports on the ups and downs of the Dow (US stock market) and believe that somehow it is all part of the natural order of the universe." ( <http://www.globalresearch.ca/index.php?context=va&aid=14271> http://www.globalresearch.ca/index.php?context=va&aid=14271) He explained that "markets are subject to, prone to, and characterized by all sorts of manipulative practices." After posing few rogue trader's examples he cited a Bloomberg report: "Sergey Aleynikov, an ex-Goldman Sachs computer programmer, was arrested July 3 after arriving at Liberty International Airport in New Jersey . [He was] charged in a criminal complaint with stealing the trading software. At a court appearance July 4 in Manhattan, Assistant U.S. Attorney Joseph Facciponti told a federal judge that Aleynikov's alleged theft poses a risk to U.S. markets." ( <http://www.bloomberg.com/apps/news?pid=20601087&sid=aKZP.X9ayMr4> http://www.bloomberg.com/apps/news?pid=20601087&sid=aKZP.X9ayMr4) The next sentence by Attorney Joseph Facciponti is alarmingly eye-opening: "The bank has raised the possibility that there is a danger that somebody who knew how to use this program could use it to manipulate markets in unfair ways," ( <http://www.bloomberg.com/apps/news?pid=20601087&sid=aKZP.X9ayMr4> http://www.bloomberg.com/apps/news?pid=20601087&sid=aKZP.X9ayMr4) Seeking Alpha, an independent investment research consultancy firm commented: "It's curious to note that Goldman Sachs has admitted that it has developed trading software that could be used to, in their own words, "manipulate markets in unfair ways", yet nobody in the mainstream media has questioned whether Goldman Sachs was / and is using its proprietary trading platform to manipulate markets in unfair ways. Only extremely naive investors with zero understanding of how global stock markets operate would deny that there has been continual and excessive intervention into US stock markets to prop them up over the past several months." ( <http://seekingalpha.com/article/147260-goldman-sachs-thoughts-on-the-develo ping-stolen-trade-secrets-scandal> http://seekingalpha.com/article/147260-goldman-sachs-thoughts-on-the-develop ing-stolen-trade-secrets-scandal) Danny Schechter, spoke to a UN Ambassador Moe Saceriby, who was a former lawyer and VP of Standard & Poors and a credible analyst of current affairs, who stated, "I think we had a transition from what truly was a free-market system to something now that is out of control and probably what I would define as a predatory system where we are not so much dealing anymore about the notion of fair prices, and the notion of markets that -- that work transparently an open late but in fact frequently markets that are manipulated for the end of maybe a few out there -- a few investors, mega-investors." ( <http://www.globalresearch.ca/index.php?context=va&aid=14271> http://www.globalresearch.ca/index.php?context=va&aid=14271) He went on to explain: "And these market movements may not be necessarily reflective of the underlying value of that real asset whether it be a commodity or whether it be in equity. What I mean by that is frequently you see prices wildly fluctuating. As an example: how could oil be at $147 in July of 2008 and all of a sudden fall to below $40 a barrel at the end of that same year? We all knew that in fact the whole economic system was in trouble over a year ago. But the price of oil kept rising sharply." ( <http://www.globalresearch.ca/index.php?context=va&aid=14271> http://www.globalresearch.ca/index.php?context=va&aid=14271) Mr. Moe ended with a statement that didn't surprise me at all, "I think it was manipulated. There is a lot of debate whether it's about speculation or manipulation but there is an old expression among traders which is 'the trend is your friend.' What that means is that in fact a few people can use significant resources, financial resources, freely as a weapon." Another discreet organization [apart from The Plunge Protection Team (PPT) which I have discussed at length supported with references in my earlier email] suspected of rigging or manipulating financial markets is a private Cabal of large New York banks and investment houses called the Counterparty Risk Management Policy Group (CRMPG). More on this tomorrow, InshaALLAH --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kantakji Group" group. To post to this group, send email to [email protected] To unsubscribe from this group لفك الاشتراك من المجموعة أرسل للعنوان التالي رسالة فارغة, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kantakjigroup?hl=en سياسة النشر في المجموعة: - ترك ما عارض أهل السنة والجماعة. - الاكتفاء بأمور ذات علاقة بالاقتصاد الإسلامي وعلومه ولو بالشيء البسيط. ويستثنى من هذا مايتعلق بالشأن العام على مستوى الأمة كحدث غزة مثلا. - عدم ذكر ما يتعلق بشخص طبيعي أو اعتباري بعينه. باستثناء الأمر العام الذي يهم عامة المسلمين. - تمرير بعض الأشياء الخفيفة المسلية ضمن قواعد الأدب وخاصة منها التي تأتي من أعضاء لا يشاركون عادة، والقصد من ذلك تشجيعهم على التفاعل الإيجابي. - ترك المديح الشخصي. -~----------~----~----~----~------~----~------~--~---
