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Fri, 21 Jan 2022
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Wall Street

Was Last Week's Market Crash a Direct Attack By Financial Terrorists?

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© Unknown
In a market where 70 percent of all trades are executed by computer algorithms via High Frequency Trading, Goldman Sachs has the power to make the market crash or rise at will.

Last week, the U.S. stock market suffered the greatest sudden drop in its history, for reasons that nobody on Wall Street can seem to decipher. But of all the explanations being examined - a tech glitch, Greek debt worries and fraud have all been discussed--the most troubling is not being given sufficient attention.

Coming on the very day that Congress considered two key financial reforms, the timing of the "flash crash" raises concerns that Wall Street is resorting to extreme tactics in its efforts to intimidate politicians who want to rein in the capital markets casino. Thursday's market plunge could have been an act of financial terrorism. Wall Street has both the motive and the means: Goldman Sachs, which is currently under investigation for a very different kind of fraud, has the trading power to make just such a market crash occur, and has much to lose from financial reforms moving through Congress.

MIB

Pandora's Briefcase: Operation Mincemeat and spycraft in World War Two

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© John Ritter
In the months before the invasion of Sicily, British spies fooled German spies with a caper inspired by a detective novel.
It was a dazzling feat of wartime espionage. But does it argue for or against spying?

On April 30, 1943, a fisherman came across a badly decomposed corpse floating in the water off the coast of Huelva, in southwestern Spain. The body was of an adult male dressed in a trenchcoat, a uniform, and boots, with a black attaché case chained to his waist. His wallet identified him as Major William Martin, of the Royal Marines. The Spanish authorities called in the local British vice-consul, Francis Haselden, and in his presence opened the attaché case, revealing an official-looking military envelope. The Spaniards offered the case and its contents to Haselden. But Haselden declined, requesting that the handover go through formal channels - an odd decision, in retrospect, since, in the days that followed, British authorities in London sent a series of increasingly frantic messages to Spain asking the whereabouts of Major Martin's briefcase.

Wall Street

Stock Market Collapse: More Goldman Market Rigging

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© Uknown
Last week, Goldman Sachs was on the congressional hot seat, grilled for fraud in its sale of complicated financial products called "synthetic CDOs." This week the heat was off, as all eyes turned to the attack of the shorts on Greek sovereign debt and the dire threat of a sovereign Greek default. By Thursday, Goldman's fraud had slipped from the headlines and Congress had been cowed into throwing in the towel on its campaign to break up the too-big-to-fail banks. On Friday, Goldman was in settlement talks with the SEC.

Goldman and Wall Street reign. Congress appears helpless to discipline the big banks, just as the European Central Bank appears helpless to prevent the collapse of the European Union. . . . Or are they?

Bad Guys

Plan for Congressional Audits of Fed Dies in Senate

Sen. Bernie Sanders of Vermont

Sen. Bernie Sanders of Vermont

Last-minute maneuvering in the Senate allowed the Federal Reserve to sidestep legislation that would have exposed its interest-rate decision-making to congressional auditors.

Pressure from the Obama administration led Senate lawmakers to alter a provision pushed by Sen. Bernie Sanders (I., Vt.) that was gaining momentum despite opposition from the Treasury and the Fed. It would have largely repealed a 32-year-old law that shields Fed monetary policy from congressional auditors.

The compromise, endorsed by Senate Banking Committee Chairman Christopher Dodd (D., Conn.) and the Treasury, would require the Fed to disclose more details about its lending during the financial crisis. It would also require a one-time audit of those loans and a one-time review of Fed governance. A formal vote was pushed back until next week.

Blackbox

July 7 inquest 'should not investigate MI5 role'

An inquest into the July 7 bombings should not investigate the role of MI5 because it would be impossible without handing over documents that would endanger national security, it has been claimed.

MIB

Private Jihad: How Rita Katz got into the business of inventing Muslim terrorists and hystericizing America

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© SITE
Rita Katz, Executive Director of the SITE Intelligence Group. Rita's paranoid hobbies include hyping Islamofascism, making people hysterical, manipulating data and pretending to be Muslim so she can frame innocent Muslims for crimes that never took place.
Rita Katz is tiny and dark, with volatile brown eyes, and when she is nervous or excited she can't sit still. She speaks in torrents, ten minutes at a stretch. Everybody who works in intelligence calls her Rita, even people who don't know her well. She sometimes telephones people she hasn't met - important people in the government - to tell them things that she thinks they ought to know. She keeps copies of letters from officials whose investigations into terrorism she has assisted. "You and your staff . . . were invaluable additions to the investigative team," the special agent in charge of the F.B.I.'s Salt Lake City Division wrote; the Assistant U.S. Attorney in Boise said, "You are a rare and extraordinary gem that has appeared too infrequently throughout the course of history." The letters come in handy, she told me, when she meets with skepticism or lack of interest; they are her establishment bona fides.

Katz, who was born in Iraq and speaks fluent Arabic, spends hours each day monitoring the password-protected online chat rooms in which Islamic terrorists discuss politics and trade tips: how to disperse botulinum toxin or transfer funds, which suicide vests work best. Occasionally, a chat-room member will announce that he is turning in his user name and password and going to Iraq to become a martyr, a shaheed. Several weeks later, his friends will post a report of the young man blowing himself up. Katz usually logs on at six in the morning. When she has guests for dinner, she leaves a laptop open on the kitchen counter, so she can check for updates. "It is completely addicting," she says. "You wake up thinking, I've been offline for seven hours, but the terrorists have been making plans."

MIB

Mumbai gunman convicted of murder over India's false-flag terror attacks

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© Sebastian D'souza/AP
Mohammed Ajmal Amir Kasab has been convicted over the Mumbai terrorist attacks of 2008 in India. But was he really the only surviving terrorist?
Sole surviving gunman from India's Mumbai terror attacks expected to receive death penalty as two other citizens are cleared

The sole surviving gunman from the Mumbai terrorist attacks of 2008 was today convicted of murder and waging war against India.

Mohammed Ajmal Amir Kasab, a Pakistani citizen, is due to be sentenced in the next couple of days. He is expected to receive the death penalty, which in India means hanging.

The court accepted the prosecution contention that the plot was hatched in Pakistan. Speaking before the verdict was announced, prosecutor Ujwal Nikam said there was irrefutable evidence that members of the Pakistani military were involved, describing it as a "classic case of state sponsored terrorism".

Once Kasab has been sentenced the case - which has been heard by a special court sitting in Mumbai's Arthur Road jail - must go to the high court for ratification. Kasab can then appeal to India's supreme court and if that is unsuccessful, he can appeal to the president for mercy.

Comment: Mumbai attack was a joint IB-CIA-Mossad-RSS project

Mumbai terror suspect David Headley was 'rogue US secret agent'

India's 9/11: Who was Behind the Mumbai Attacks?


Vader

Something to hide? MI5 says its files on 7/7 attacks are 'impossible to access'

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MI5 HQ in London: It's "impossible" to access the files on 7/7 because they're behind these 20-foot concrete walls
It would be "impossible" to reveal secret MI5 files about the 7/7 London terror attacks, a court has been told.

The claim has been made at a hearing to decide the format of inquests into the deaths of those killed in 2005.

Lawyers for the families of those who died argue the hearing should also look at whether the intelligence services could have prevented the attacks.

Counsel for the home secretary and MI5 argued examining MI5's involvement was outside the scope of the inquests.

Four suicide bombers detonated their devices on three Tube trains and one bus killing 52 innocent people.

It emerged after the attacks that security agencies came across two of the bombers in 2004 while investigating other terrorist plots.

Gear

Computerized Front Running and Financial Fraud

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While the SEC is busy investigating Goldman Sachs, it might want to look into another Goldman-dominated fraud: computerized front running using high-frequency trading programs.

Market commentators are fond of talking about "free market capitalism," but according to Wall Street commentator Max Keiser, it is no more. It has morphed into what his TV co-host Stacy Herbert calls "rigged market capitalism": all markets today are subject to manipulation for private gain.

Keiser isn't just speculating about this. He claims to have invented one of the most widely used programs for doing the rigging. Not that that's what he meant to invent. His patented program was designed to take the manipulation out of markets. It would do this by matching buyers with sellers automatically, eliminating "front running" - brokers buying or selling ahead of large orders coming in from their clients. The computer program was intended to remove the conflict of interest that exists when brokers who match buyers with sellers are also selling from their own accounts. But the program fell into the wrong hands and became the prototype for automated trading programs that actually facilitate front running.

Cult

First Europe, then the US - now abuse claims sweep Latin America

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© Reuters
Cardinal Tarcisio Bertone from the Vatican and Bishop Alejandro Goic apologise
The paedophile priest scandal currently enveloping the Vatican has spread to one of the most Catholic areas of the world following a string of new abuse revelations throughout Latin America.

Reports of priests raping or abusing minors have now emerged in Brazil, Bolivia, Uruguay, Mexico and Chile causing growing anger in a continent that is home to nearly half the world's Catholics.

In Brazil an 83-year-old priest has been arrested after he was secretly filmed in bed with a 19-year-old altar boy. The footage was broadcast on national television networks prompting a police investigation which led to the arrest of Monsignor Luiz Marques Barbosa and two other priests in the north eastern state of Alagoas. They have since been accused of abusing boys as young as 12 and have been suspended by their diocesan bishop.

The Catholic Church in Chile confirmed this week that there have been 20 alleged or confirmed cases of child abuse by priests. At a press conference yesterday, Monsignor Alejandro Goic, the head of Chile's bishops' conference, apologised and vowed to crack down on any priests who had abused children.