It seems that once again, someone batty, running a high speed computer program for trades screwed up the stock markets this time with Apple and the risks of trading 29,000 times per second – Apple 2.0 – Fortune Tech: That is, someone, somewhere, once again, goofed and put in a wrong trade and this caused a sudden cascade plunge event which the Board had to manually erase due to this being yet another ‘accident’.
The clowns who did this were the BATS Global Markets guys: BATS is shorthand for ‘Better Alternative Trading System’. Snark. Its debut was a monumental crash. And to think, this operation is being done in Kansas, Dorothy should drop her house on the Wicked Witch there and kill the creature. I hope everyone hurt by today’s crash sues these idiots in Kansas. Teach them a lesson. And they should be investigated and SHUT DOWN. Because you can’t trust them.
These sudden, unforeseen toxic nuclear meltdowns have suddenly begun to happen not once a decade but once a YEAR. This began when the big computer centers were built in Jersey City and lower Manhattan and filled with computer complexes that simply play ping-pong endlessly not once an hour or once a minute but chopped up in fast-moving segments of tiny fractions of a second. A million trades can happen in the matter of minutes! Now, a number of exchanges have been set into motion all over America to ape these giants…with terrifying results.
So…it is ‘erased’ but this is another bullet in the heart of the entire system: when speed approaches warp speed when it strives for infinity, it crashes to zero. This concept of putting brakes on lending, capital accumulation, political power, magical religious powers, the printing of money, the energy in a nuclear power plant, the size of bombs used in wars, etc. is a matter of life or total annihilation. There has to be limits on speed, power and mass.
The refusal to acknowledge the need for brakes is troubling. Imagine driving down a steep mountain with no brakes. You crash and die. Imagine getting into a vehicle that only goes faster and faster until it disintegrates. The insanity of letting things run wild should be painfully obvious. The board of directors of Wall Street are guilty of letting things run with no brakes. We see the near future here: any slight event that causes the markets to move fast will, in less than three minutes, go hyperspeed to total zero.
Since this starts to happen accidentally, imagine a panic where the parties really want to sell! We know from the Great Depression, the markets had to be closed for several days so the paperwork could catch up on things and the brutal bear market roared onwards for a long spell afterwards. But if the markets suddenly go to ZERO, how do you recover anything? It is, of course, impossible.
Toying with total destruction is why we don’t let children play with guns or matches. We suffer adults doing this. And have laws that strive to stop them or at least make people think twice before doing stupid things. But we know from human psychology, this doesn’t work unless systems have brakes on them which is why we can’t buy nuclear bombs and throw them around when irritated.
And because the Halloween BATS people are 10% of the ‘equity market sales’ there is all the more reason to punish them severely. Everyone on Wall Street and in Tornado Alley should be scared to death of making even slight errors. Got that, guys?
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