Apr 23

sarao photo_0

Why Sarao Is The Flash Crash Patsy: He Threatened To Expose The “Mass Manipulation Of High Frequency Nerds” (ZeroHedge, April 23, 2015):

There are several notable items in Bloomberg’s comprehensive overnight summary of the epic humiliation America’s market regulators are about to undergo, complete with yet another round of theatrical Congressional kangaroo courts, which will lead to a lot of red faces, a wrist slap or two and maybe even the termination of one or two lowly employees and… nothing else.

Because what difference does it make?

At this point only a bottom-up overhaul can “fix” the fragmented, broken market which by definition can only come after the next market crash, one which will promptly be blamed on HFTs (which leaving the central bankers unscathed).

Back to the Bloomberg piece in which we first discover that it wasn’t even the CFTC that, 5 years later, “figured out” the flash crash was one person’s fault: Continue reading »

Tags: , , , , ,

Apr 23

TPTB Are Trying to Kill Off What’s Left of America RIGHT NOW (Washington’s Blog, April 23, 2015):

Most of the America of our fathers has been destroyed.

The little shred of right to life, liberty and the pursuit of happiness is – right now – under massive attack by the powers-that-be.  It’s literally the last stand for America.

These two stories provide details:

More news from the battlefield: Continue reading »

Tags: , , ,

Apr 23

Half Of US Frackers Will Be Dead By Year End, Weatherford Warns (ZeroHedge, April 23, 2015):

Following the CEO’s comments that over 100,000 energy jobs will be lost this year, an executive with Weatherford International – the fifth largest US fracker – has warned half of the 41 fracking companies operating in the U.S. will be dead or sold by year-end because of slashed spending by oil companies. “We go by and we see yards are locked up and the doors are closed,” said Rob Fulks, seemingly confirming what Weatherford CEO Duroc-Danner said earlier in the year, “we’re now confronted with an unusually severe market contraction.” Continue reading »

Tags: , , ,

Apr 23

Running From Police “Often” A “Death Sentence,” Former Cop Says (ZeroHedge, April 23, 2015):

Earlier today we brought you the story of Texas Department of Public Safety trooper Abraham Martinez, whose flying jumpkick has now been officially enshrined in the annals of police dash cam history. As it turns out, we have The Austin American Statesman to thank for the footage. The newspaper recently took an in-depth look at the Texas DPS’ use of force during pursuits. Here’s an excerpt:

The trooper who shot and kicked him, Abraham Martinez, last year received a minor penalty for the incident — three days off without pay. Yet the fact that a traffic infraction could escalate into a lengthy, high-speed motorcycle pursuit ending in gunshots provides a graphic illustration of how a relatively permissive DPS culture of use-of-force during pursuits is out of step with evolving national standards, experts said. A leading researcher on police pursuits, University of South Carolina criminal justice professor Geoffrey Alpert, called the agency’s policy permitting troopers to shoot at fleeing vehicles “stupid.” Continue reading »

Tags: , , , , ,

Apr 23

“Fed has created abnormal market conditions by printing money and keeping interest rates low. Investors are looking for growth anywhere they can find it and tech companies are good targets – at these values, however, all tech stocks are expensive – even looking at 5+ years of revenue growth down the road. This means that most value-driven investors have left the market and the remaining 5-10%+ increase in market value will be driven by momentum investors. At some point there won’t be any momentum investors left buying at higher prices, and the market begins to tumble. May be 10-20% correction or something more significant, especially in tech stocks.”


federal-reserve-quantitative-easing-printing-money

How The Second Tech Bubble Will Burst, In The Words Of Silicon Valley’s “Poster Child” And World’s Youngest Billionaire (ZeroHedge, April 23, 2015):

Back in December, following the Sony email leak, the world was granted a second (again uninvited) glimpse into the private life and thoughts of the person who had previously suffered another email leak, this time exposing his fraternity days explots: Snapchat founder and CEO Evan Spiegel.

And while many have been quick to mock Spiegel for some of his boyish ways, the reality is that the not only is the 24-year-old the world’s youngest billionaire, but he has quickly won the admiration of Silicon Valley’s brand names like Twitter CEO Dick Costolo who has said “I really think he is one of the best product thinkers out there right now.” Continue reading »

Tags: , , , , , , ,

Apr 23

Professors: 100s of Millions of animals have died recently along West Coast — Worst mortality event ever known — “Wiped out at least 20 different species” — Marine life also disappearing from Fukushima coast (VIDEO) (ENENews, April 22, 2015):

New Yorker, Apr 21, 2015 (emphasis added): [A]n ongoing outbreak of a sea-star wasting disease… has killed millions of starfish… It’s the greatest wildlife mass-mortality event, or “die-off,” of the present day… Online, speculation about the cause of the die-off soon focussed [sic] on radiation from the Fukushima Daiichi nuclear-power plant… [Pete Raimondi, principal investigator with a research group studying the disease] recalled a phone call in which a fearful soon-to-be father asked whether he should immediately move his family away from the West Coast. It was one of many similarly heartfelt calls. Researchers have found no evidence of a link between the ongoing Fukushima disaster and the starfish die-off,.. Many members of the public remain unconvinced… sea stars are known to be maritime canaries-in-the-coal-mine: “They’re always the first ones to go,” Raimondi said.

Santa Cruz Sentinel, Apr 6, 2015: [A] mysterious disease has melted millions of sea stars… This current epidemic has wiped out at least 20 different species of starfish, Raimondi said.

Dr. Ben Miner, Western Washington Univ., Jan 22, 2015 (35:45 in): “The numbers of stars that have died are probably — reasonable estimates of hundreds of millions. I think at this point most scientists are pretty comfortable saying that it’s the largest mass mortality ever associated with a disease ever recorded. [It’s] quite frightening… Patterns we initially saw and subsequent to that — and some other data — strongly suggests that it has nothing to do with Fukushima, though that was something that was very commonly reported in the media.” Continue reading »

Tags: , , , , , , ,

Apr 23

parthenon

Forget “Grexit”, “Grimbo” Has Arrived (ZeroHedge, April 23, 2015):

If you didn’t know any better you might think “Grimbo” was a new Sesame Street character. Far from being the name of something that brings smiles to the faces of young children however, it’s actually the latest one-word take on the likely outcome of Greece’s protracted, painful negotiations with creditors, which will continue tomorrow in Riga where progress is, according to pretty much everyone that will be involved, unlikely. The new term follows in the footsteps of the classic (but now tired) “Grexit” and its underrated predecessor “Graccident,” and refers to two of the four outcomes Citi imagines are possible in the unfolding Greek drama. Here, via Citi, are the scenarios that would constitute Grimbo: Continue reading »

Tags: , , , , , , , ,

Apr 23

Sunset turns massive Calbuco eruption into amazing scene1

Surreal! Sunset turns massive Calbuco eruption into amazing scene (IMAGES) (RT, April 23, 2015):

The record-breaking volcanic eruption in southern Chile is dramatically altering skies, as spectacular views emerge of white plumes creeping miles up into the sky after coloring the night orange. A second blast took place hours ago.

Nature’s colossal power was aptly demonstrated by Calcubo, which erupted a second time just a few hours ago, with agencies reporting a stronger eruption than the first.

An electrical storm mixed with the raging spurts of lava overnight to create what looked like the jaws of hell opening to swallow the surrounding landscape.

Sunset turns massive Calbuco eruption into amazing scene2
AFP Photo / David Cortes

In scenes reminiscent of the movie Independence Day, white mushroom disks adorned the daytime skies, slowly claiming the city of Puerto Varas for their own.

Continue reading »

Tags: , , ,

Apr 23

Saudi prince promises Bentleys to pilots bombing Yemen, deletes tweet (RT, April 23, 2015):

Saudi Arabia’s billionaire Prince Alwaleed bin Talal tweeted an unexpected message for the 100 fighter pilots involved in airstrikes against Yemen – each would be awarded a Bentley. The tweet, which was later deleted, sparked anger online.

“I congratulate our wise leaders on the victory of Operation Decisive Storm and the beginning of Operation Restoring Hope,” bin Talal appeared to tweet on Tuesday. It followed an announcement of a new phase in the Saudi-led campaign in Yemen.

“To recognize the one hundred participating Saudi pilots I am pleased to present them with 100 Bentley cars,” he said, according to screenshots of the message.

Saudi prince promises Bentleys to pilots bombing Yemen, deletes tweet

But the fighter pilots couldn’t allow themselves to get too excited, because the tweet was later deleted without explanation. Some Saudi Arabian reports suggest the prince’s account was hacked, though this has not been confirmed. Continue reading »

Tags: , , , ,

Apr 23

Caught On Tape: Cop Jumpkicks Suspect After Shooting Him (ZeroHedge, April 23, 2015):

As regular readers are no doubt aware, there’s been no shortage of “caught on tape” police moments over the past several months. Thanks to police cruiser dash cam video, bystander cell phone recordings, and in one case, aerial footage from a local San Bernardino news helicopter we’ve witnessed a South Carolina police officer shoot a fleeing, unarmed man in the back, watched as Arizona officers battled an invincible family band in a Wal-Mart parking lot, looked on incredulous as a US Marshall destroyed a citizen’s cell phone, and followed Sheriff’s Deputies through the desert as they chased (and subsequently beat) a man who fled on a stolen horse.

Today we bring you the following clip (circa 2012) from Texas Department of Public Safety trooper Abraham Martinez’s dash cam. Martinez was pursuing one Steven Gaydos whose crime was running a stop sign while driving a motorcycle on a suspended license and carrying two percocets in his pocket. After a high speed chase Martinez apparently decided to “disable” the bike by shooting it four times but unfortunately ended up shooting Gaydos instead. Realizing he was shot in the thigh Gaydos appears to pull over with the intent to surrender when, completely inexplicably, Martinez executes a running jumpkick to Gaydos’ midsection.

Here’s the clip:

More from RT:

Apparently shooting a Texas motorcyclist in the thigh during a high-speed chase wasn’t enough for one state trooper, who ended up performing a leaping kick into the man’s lower body after eventually pulling him over.

Continue reading »

Tags: , , , , , ,

Apr 22

China

China Has A Massive Debt Problem … And Why It Is About Get Much Massiver (ZeroHedge, April 22, 2015):

We’ve spent quite a bit of time recently discussing the fact that China faces tough choices as Beijing attempts to counter decelerating economic growth while maintaining a peg to what has lately been one of the world’s strongest currencies. With pressure coming from four consecutive quarters of capital outflows totaling some $300 billion, devaluation is a somewhat risky (if inevitable) proposition and so the PBoC has opted for interest rate and RRR cuts to keep liquidity flowing into the economy.

But even as the reserve requirement cut freed up more than a trillion yuan, policymakers must also grapple with competing agendas such as deleveraging a system that, as we exposed more than two years ago, and as Bloomberg now reports, is weighed down by a veritable mountain of debt.

China has a $28 trillion problem. That’s the country’s total government, corporate and household debt load as of mid-2014, according to McKinsey & Co. It’s equal to 282 percent of the country’s total annual economic output. Continue reading »

Tags: , , , , , ,

Apr 22

–  Caught On Tape: Cop Grabs, Smashes Phone Of Woman Recording Him (ZeroHedge, April 22, 2015):

He told me that I had to go. He said I was interfering with their investigation and I told [him] that I was on a public sidewalk and I had the right to film them..”And then this happened…

As MyFOXLA reports,

Beatriz Paez says she was doing nothing wrong taking video of U.S. Marshal executing warrants on San Juan Avenue Sunday. She saw people in handcuffs. “Around 8 people including women were held at gunpoint on their stomachs with their hands held behind their back,” says Paez. Continue reading »

Tags: , , , , , ,

Apr 22

High Frequency Trading

Tags:

Apr 22

Related info:

ECB Prepares To Sacrifice Greek Banks With 50% Collateral Haircut:

The bottom line – it’s over! Absent Russian ‘loans’ or Chinese infrastructure deals, the “Cyprus”-ing will begin shortly which perhaps Greek depositors will front-run better than the Cypriots.”


GREXIT

Grexit: Remaining In The Eurozone Is No Longer ‘The Base Case’ For Greece (Economic Collapse, April 21, 2015):

According to the Wall Street Journal, Greece staying in the eurozone is no longer “the base case” for European officials, and one even told the Journal that “literally nothing has been achieved” in negotiations with the new Greek government since the Greek election almost three months ago.  In other words, you can take all of that stuff you heard about how the Greek crisis was fixed and throw it out the window.  Over the next few months, a big chunk of Greek government bonds held by the IMF and the European Central Bank will mature.  Unless negotiations produce a load of new cash for Greece, there will be a default, and right now there is very little optimism that we will see an agreement any time soon.  In fact, as I wrote about the other day, behind the scenes banks all over Europe are quietly preparing for a Grexit.  European news sources are reporting that the Greek banking system is on the verge of collapse, and over the past couple of weeks Greek bond yields have shot through the roof.  Most of the things that we would expect to see in the lead up to a Greek exit from the eurozone are happening, and now we will wait and see if the Greeks actually have the guts to pull the trigger when push comes to shove. Continue reading »

Tags: , , , , , , ,

Apr 22

“Trace levels”?

So they ‘evacuated’ the drone then (in order to protect it from the Fukushima radiation in Tokyo)?

Fukushima Fuel Rod Materials At 200 TRILLION Bq/Kg Found Near Tokyo … ‘Material Spread Globally’

Radioactive Japan: Contamination Detected In Tokyo Equal To Chernobyl Mandatory Evacuation Levels

Chief Nuclear Engineer Arnie Gundersen: Tokyo Soil Samples Would Be Considered Nuclear Waste In The US! (Video)

Prof. Dr. Chris Busby: ‘You Shouldn’t Go On A Business Trip To Japan’ – ‘Get Out Of Japan’ – ‘Run!’ – ‘I Would Get Out Of Tokyo’ (Video)

Evacuate Tokyo And All US Forces From Japan! (Veterans Today): ‘Tokyo Radiation Level 25 Times The Fukushima Mandatory Evacuation Zone’

And remember, radiation is “good for you” (but only in Japan):

Flashback:

And Now: Japanese Doctor Says ‘Radiation Is Good For You’, ‘Like An Angel’s Smile (Even At 50 Millisieverts/Year)’:

From now on, the number of cancer patients in Fukushima will decrease.

Food items with a small amount of radiation will fetch “premium”.

Fukushima Prefecture will be the Number One health land in Japan, and people will flock to Fukushima.

Our future is bright.


Tokyo-drone

Radioactive Drone Discovered On Roof Of Japanese PM’s Office (ZeroHedge, April 22, 2015):

Japanese Prime Minister Shinzo Abe awoke on Wednesday to find a half-meter-wide drone, contaminated with trace levels of radioactive cesium, on the roof of his office in Tokyo. Of course this is nothing new for Washington where a drone crash-landed on The White House lawn in January and Chief Cabinet Secretary Yoshihide Suga said that Japan is looking to tighten laws governing drones (ahead of next year’s G7-summit and the 2020 Olympics). Of course, the police have explained cesium isn’t harmful to humans(though we suspect they aren’t stupid enough to drink it).

As The Wall Street Journal reports,

A drone was discovered on the roof of the Japanese prime minister’s office building Wednesday, and police said a tiny level of radiation was detected next to it. Continue reading »

Tags: , , , , , , , , ,

Apr 22

Flashback:

Peeling The Onion: Almost Everyone Involved In Developing Tor Was (Or Is) Funded By The US Government


 

tor-logo

How Tor is building a new Dark Net with help from the U.S. military (The Daily Dot, April 20, 2015):

The Dark Net is under attack.

Actually, it’s always under attack. That’s the smart attitude to take as the spotlight has been turned up on technology like the Tor-anonymizing network. Threats from governments and hackers around the world have pushed Tor’s decade-old hidden service technology to its limits.

To stay ahead in the security race, Tor is building the next-generation Dark Net in part with funding from the Defense Advanced Research Projects Agency, the U.S. military agency charged with inventing the cutting edge of new technology. Continue reading »

Tags: , , , , , , , , , ,

Apr 22

9 States Running Out of Water (GOVTSLAVES, April 22, 2015):

For many states, the rainy season is over, and most of the Western United States is now locked into a fourth consecutive year of drought. The imminent dry summer is particularly foreboding for California, where more than 44% of land area is engulfed in an exceptional level of drought. This was the highest such share nationwide and the kind of water shortage seen only once a century.

According to a study by the National Aeronautics and Space Administration (NASA), “Droughts in the U.S. Southwest and Central Plains during the last half of this century could be drier and longer than drought conditions seen in those regions in the last 1,000 years.” The likelihood of such a drought is 12%, NASA scientists estimated. Continue reading »

Tags: , , ,

Apr 22

Related info:

Turkey Devolves Into A Full Police State: Law Grants Unlimited Powers To Weaponized Police Force

Turkey Central Bank Head Faces 2 Years In Jail For NOT Lowering Interest Rates


erdogan

Turkish Student Sentenced To Prison For Retweeting Satirical Article (ZeroHedge, April 22, 2015):

Over the past year, Turkey has quietly become the poster child of what happens when a formerly reputable “developed world” nation devolves into Banana Republic status slowly at first, and then very fast.

The most recent update out of the country that president Tayyip Erdogan has gradually converted into his own fiefdom was its conversion into a full blown police state: recall a month ago we reported that the parliament passed security laws “that allow police to conduct searches and arrests without immediate court orders and use firearms against militants. The law separately empowered government-appointed governors to order police or paramilitary forces to conduct searches and detain suspects for up to 48 hours without immediate court orders, state-run Anadolu Agency said.” Or for comic book buffs, a state in which Judge Dredds run rampant.

And with Turkish enforcement now granted a green light to detain anyone, for any reason, the next inevitable crackdown was only a matter of time – that on free speech. Continue reading »

Tags: , , , , ,

Apr 22

First Photograph Emerges Of The “Criminal Trading Mastermind” Reponsible For The Flash Crash (ZeroHedge, April 22, 2015):

Wall Street has found a new, unwitting source of humor: the CFTC.

The reason, of course, is that according to the “regulator” the gullible investing public is expected to believe that one single person, operating out of a non-collocated, latency fortress in Hounslow…

The sun sets on the address where Nav Sarao Futures Limited is registered, in Hounslow

… is responsible for the May 2010 flash crash.

The implication being that the perpetrator has been caught and now confidence in broken markets can be restored, however what the CFTC has in effect done is further undermine faith in a market, which apparently is so defenseless it has absolutely no countermeasures to the simplest of predatory trading strategies, namely spoofing: spoofing which takes place millions of times every single day across all global markets (as we showed back in 2013 in Watch The Banned HFT Spoofing Algo In Action).

The CFTC’s inadvertent humor, however, is no laughing matter to the person implicated in the latest despeate attempt to scapegoat a non-US institution for the flash crash (just ahead of the statue of limitations running out no less): not only is Navinder Singh Sarao, a British national, facing decades in prison in the worst case as reported earlier, but moments ago he had to pay a massive 5 million pound bail to stay out of jail for the duration of his case: an amount that is usually reserved for Class A felons, those who have caused grievous bodily injury and suffering, or worse, instead of merely a BTFD opportunity. Continue reading »

Tags: , , , , , , , ,

Apr 22

gazprom

EU charges Gazprom with ‘abusing’ market position in Central & Eastern Europe (RT, April 22, 2015):

Russia’s biggest gas utility, Gazprom, was hit with an antitrust case by European Union regulators for “abusing” its dominant position and overcharging customers for gas supplies. The investigation against the Gazprom has been ongoing for 2 years.

“We find that it (Gazprom) may have built artificial barriers preventing gas from flowing from certain Central Eastern European countries to others, hindering cross-border competition,” European Competition Commissioner Margrethe Vestager said in a statement. Vestager said there is no political element to the case. Continue reading »

Tags: , , , , , , ,