The US Stock Market is a Con Game of Immense Proportions!
What do you think happens when more and more of Amerika realizes that it’s not just foreclosures that are fraud, IT’S THE ENTIRE FINANCIAL SYSTEM!
Michael Lewis was one of the first to show just how corrupt the mortgage and foreclosure systems were….
Michael Lewis, the author of bestsellers “Moneyball” and “The Big Short” appeared on “60 Minutes” to discuss his latest Wall Street tale, “Flash Boys,” about how one trader discovered that “the stock market is rigged.” And now he’s trying to fix it.
Lewis explained that high-frequency investing, done by computers, is so fast and so quickly that the computers at the big banks can identify your sales before your purchase goes through. Such was the discovery of Brad Katsuyama at Royal Bank of Canada, who noticed that his trades were only being partially filled.
Banks are “able to identify your desire to buy shares in Microsoft and buy them in front of you and sell them back to you at a higher price,” Lewis explained. “It all happens in infinitesimally small periods of time. There’s speed advantage that the faster traders have is milliseconds, some of it is fractions of milliseconds. But it’s enough for them to identify what you’re gonna do and do it before you do it at your expense.