Because hard evidence, along with the speed of light, proves that someone got the Fed announcement news before everyone else. There is simply no way for Wall Street to squirm its way out of this one.Gold traded too soon in Chicago, someone in Chicago had a trading program ready, then knew we had a notaper ahead of time. Right now I think JP Morgan threaten a delver if Ben tapered. JP Morgan knew that Ben would vote no taper if the big banks started a delver. Ben acquiesced, and JP Morgan had the trigger set for gold buys. One could see JP Mogan build up to a delever in the weeks prior. Is insider trading among fiat bankers home the first sign of hyperinflation?
Before 2pm, the Fed news was given to a group of reporters under embargo - which means in a secured lock-up room. This is done so reporters have time to write their stories and publish when the Fed releases its statement at 2pm. The lock-up room is in Washington DC. Stocks are traded in New York (New Jersey really), and many financial futures are traded in Chicago. The distances between these 3 cities and the speed of light is key to proving the theft of public information (early, tradeable access to Fed news).Zero Hedge
Friday, September 20, 2013
Insider Trading at the Federal Reserve?
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