Web: Our Financial Oligarchy; Emperors of a Brave New World

Web

Our Financial Oligarchy; Emperors of a Brave New World

They own the regulators; they own the brokerage houses; they own the clearing houses; they own all of your investments; and it’s even been shown that they can exert complete control over the government.

To understand how these banks exert complete control over our financial system, one must first understand the securities clearance system.

In the United States of America, there is only one central clearinghouse: The Depository Trust and Clearing Corporation, and for almost 50 years they have maintained a virtual monopoly over this essential service.

It is a private corporation that is owned by these mega-banks and brokers.

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PDF (470 Pages): Our Financial Oligarchy Back-Up

Article: “For Guys Like Me, It’s All About Sheer Luck”: Why Retail Traders Are Facing “Catastrophic Losses”

Article - Media

“For Guys Like Me, It’s All About Sheer Luck”: Why Retail Traders Are Facing “Catastrophic Losses”

Comment: Zero Hedge is such a shit rag when it comes to honesty about how the system works. Day Traders / retail traders   you can they are facing major losses  The poor bastards stand a better chance at a casino at least they will give you a FREE DRINK..  Wall St little known secret is BIG Players will counterfeit shares into their buying and when they run our of money the stocks will go straight down    WELCOME TO FRAUD ST.      Poor Retail investors  you know them Fireman, Police ,Nurses ,Teachers, military  it goes on and on we  all tell them  what a great job,,   BUT not on our field we will take your heads off   But Thanks for playing

Article: Bank of America Eroded U.S. Spoof Case, Laying Path for JPMorgan

Article - Media

Bank of America Eroded U.S. Spoof Case, Laying Path for JPMorgan

Tom Schoenberg

Bloomberg, 20 February 2020

Bank of America Corp.’s lawyers came through big for their client last year when they whittled down a U.S. case over precious metals spoofing.

Justice Department prosecutors wanted to bring criminal charges, but bank lawyers asked for none and prevailed. Prosecutors named Bank of America throughout the draft settlement document but not in the final version.

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Article: For traders who spoofed market years ago, a new ruling spells trouble

Article - Media

For traders who spoofed market years ago, a new ruling spells trouble

Bloomberg, 25 May 2020

US prosecutors are starting to build cases against traders suspected of manipulating markets as long as a decade ago, after an obscure legal ruling extended the statute of limitations for spoofing cases.

In October, the judge presiding over the impending trial of two former metals traders ruled that the US government can pursue charges of wire fraud as well as spoofing against the pair. The decision addressed a long-running legal debate about whether the placing of electronic market orders with the intention of cancelling them constituted a form of “false representation” and therefore fraud.

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Article: These Are the Banks that Own the New York Fed and Its Money Button

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These Are the Banks that Own the New York Fed and Its Money Button

Pam Martens, Russ Martens

Wall Street on Parade, 20 November 2019

The New York Fed has now pumped out upwards of $3 trillion in a period of 63 days to unnamed trading houses on Wall Street to ease a liquidity crisis that has yet to be credibly explained. In addition, it has launched a new asset purchase program, buying up $60 billion each month in U.S. Treasury bills. Based on the continuing escalation of its plans, it appears to be testing the limits of what the public will tolerate. We thought it was time to answer the question: who exactly owns the New York Fed and its magical money spigot that can pump trillions of dollars into Wall Street at the press of a button.

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Article: Lawyers Line Up to Sue Merrill Lynch for Alleged Deceptive Trading Practices in Commodities

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Lawyers Line Up to Sue Merrill Lynch for Alleged Deceptive Trading Practices in Commodities

Miriam Rozen

29 July 2019

Join the queue if you are a plaintiff lawyer considering filing a proposed class action lawsuit against Merrill Lynch’s parent company, Bank of America, related to allegations of deceptive trading practices in the commodities markets.

Multiple plaintiff lawyers filed at least three such lawsuits in recent weeks after federal prosecutors secured a June 25 deal with another BofA unit, Merrill Lynch Commodities, to pay $25 million to resolve their investigation into alleged deceptive trading practices.

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Article: BofA Merrill Lynch Branch in Seoul Fined for High-frequency Trading

Article - Media

BofA Merrill Lynch Branch in Seoul Fined for High-frequency Trading

Yoon Young-sil

Business Korea, 17 July 2019

Korea Exchange (KRX) has decided to impose a 175 million won (US$148,495) fine on Bank of America Merrill Lynch’s South Korean unit for violating its trading rules. Merrill Lynch’s Seoul branch reportedly served as a trading channel for U.S.-based Citadel Securities and has been suspected of disrupting the market through high-frequency algorithm trading on the KOSDAQ market.

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