Political Opinion

The Lobby
2479

CNBC ran a number of stories earlier this year that the lead currency desk traders at nearly all major banks (JPMorgan, Barclays, Citi, UBS, etc) were under investigation (internal and external) for colluding to set prices. They allegedly gathered in an online chat room to fix rates in a manner not dissimilar to the LIBOR fixing that is also being investigated.

Does it happen? You betcha. d-pip’s assessment is correct. Wherever there is money involved there are those that will want more of it through any means necessary. All markets will ALWAYS be manipulated.

Can a retail trader still trade and make a profit when he KNOWS the markets are manipulated? Probably. I try to follow the markets so I don’t care if they move up or down or who moves them – as long as they move.

2480

I read D-Pip’s post and totally agree with you both. I think there is manipulation and it can be seen, and with some practice a person can benefit from it. My fear is that the banks are going to try to shake the retail traders off their backs and start using other tools that are harder to identify (not that it’s easy now.) There is a forex testing tool (#2) that I purchased a couple of months ago, and it is close to being the best money I’ve spent in learning to trade. I can take a whole weekend and practice simulated trading, with any bankroll size, and it’s been really helpful.

Some of the conspiracy videos I’ve seen on the net are pretty wild. I tend to think that everyone has their own agenda, so I’m determined not to form world opinions based on Youtube videos, but as I watched, there were a couple that did not seem completely ridiculous to me. I’ve wondered if others have had the same thoughts.

2481

I wouldn’t worry too much about UBS or Barclays trying to shake you out or even acknowledge your existence. Their respective trading desks are moving hundreds of millions on a slow day – primarily for their clients who are hedging overseas expenses (Toyota, Caterpillar, GE, BASF, etc.) and for funds that are in a risk-off mood.

They are not trying to shake you off. You and every other retail trader in the world only encompass 10% of the market, give or take a few percentage points, and they certainly do not comprise a monolithic trading block. Not every retailer is going long the EUR/USD at the same time nor is every retailer even trading the same pairs let alone going in the same direction on those pairs.

In other words, you are market noise.

It is a happy twist of fate that forex is decentralized and governments haven’t interfered with retail currency speculation too much (yet). Companies have sprung up acting as bookies (the dealers) and we are allowed to, essentially, gamble with them on whether future price movements will go up or down. The dealers don’t even care if you win as they lay off wagers with the banks in true bookie fashion.

The manipulation of prices that takes place gives banks an additional (and illegal) edge when they know in advance (and share with each other) whether the supply or demand brought about by the orders of their largest clients will move a market up, down, or if they decide to move it against them in a concerted effort. Again, you and I and our lunch money sized accounts don’t enter the picture.

As for the other conspiracy videos you may be talking about, just the other day Elvis and I were discussing extraterrestrials when our conversation was interrupted by Big Foot shouting obscenities at the local Mason Lodge so I completely understand where you are coming from :wink:

2482

Agreed. I worked for Deutsche for five years and they barely acknowledged my existence, as I worked in the back office counting money, rather then helping the bank to make any.

I’ll admit it… Although I like to think of myself as a logical dude, there are times that I’ll watch a video about one of the conspiracy (I am absolutely not referring to Newtown) theories, and sometimes the argument seems sensible. Most of my teams work has been transitioned out of country, so there is not that much to do most days, until the end of June, so I like to think I’ve taken a step forward by watching various recorded debates with people like Christopher Hitchens, etc. I’ll have to Google Bigfoot shouting obscenities at Masons though. In New York, the sasquatch population tends to be pro Mason, as we think they are part of the New World Order.

It’s nice to talk to you again JL. How’s it going?

2483

I could try to find something to complain about but it would take some searching…

Other than Dan Brown novels, because they are fun, I tend to shy away from most conspiracy theories. Occam’s Razor, for me, works. Simple things for my simple mind, I guess :30:

2484

Hey Brian,

On the subject of conspiracy theories, I tend to roll my eyes or laugh out loud at most of them.

But, occasionally, one comes along that makes me say, “Okay, you’ve got my attention.”

This is one such —

9/11:EXPLOSIVE EVIDENCE - THE EXPERTS SPEAK OUT (Final Version 2012) - YouTube

If you haven’t seen this video before, you should take a look. I think you will find it worth your time.

2485

Hi Clint. Thank you for posting this video. I watched it this morning, and it is one of the better 9/11 videos I’ve seen. I truly hope it was not a conspiracy, but some of the things (as mentioned in this video) have never made sense to me. I cannot understand how both towers would have (and in the way they did) fallen, and even less so building 7. It would be highly preferable to me, if someone could prove beyond any reasonable doubt that it was not a conspiracy, because the alternative to it having been a terrorist attack is even more unthinkable. But there are many reasonable people who have reasonable questions about what happened that day, and the mainstream media does not even try to address these in a serious way.

2487

The Disappearance of Malaysian Airlines Flight 370

[B]• Boeing believes the missing plane is on the ground in Pakistan[/B]

— although, now (under pressure?), Boeing is backtracking on that assertion.

• Lignet [B]believes the missing plane is on the ground in Pakistan.[/B]

• Retired Air Force Lt. Gen. Thomas McInerney [B]believes the missing plane is on the ground in Pakistan.[/B]

Pakistan reportedly has four airfields long enough (7,500 ft. or longer) to land a Boeing 777.

Why is it that we are hearing nothing about satellite imagery, or drone reconnaissance, of those airfields?

Instead, the whole world is being invited to join in a “crowdsourced search” effort to examine vast regions of the Indian Ocean. Why is that?

There is strong circumstantial evidence that —

• someone (possibly the pilot) meticulously planned a hijacking of Flight 370,

• the planned hijacking was carried out with precision, and

• the hijacked plane flew for up to 7 hours, after being hijacked and diverted from its original course.

Given this evidence, does it make sense that —

• the hijacker flew the plane for 7 hours into the most remote region of the Indian Ocean, only to crash it where it likely would never be found,

• neither the hijacker, nor any terrorist organization, has made any claim of responsibility for this hijacking,

• neither the hijacker, nor any terrorist organization, has made any demands of the airline, of Malaysia, or of the world at large,

• neither the hijacker, nor any terrorist organization, has issued any manifesto justifying this hijacking ?

If “crowdsourced searching” has merit, why are people NOT being mobilized to search Pakistani airfields?

2488

And we know that nations with the capability to do so haven’t?

Keeping with the conspiracy theories theme, is it easier to believe that a plane went into the ocean in one of the world’s SIGINT black spots because of mechanical problems/terrorist/suicidal pilot/whatever reason or…

that a large commercial airliner has been hijacked, even if by the crew, flown to another country with large enough airfields to land it with the knowledge and permission of that nation’s government and without the knowledge of commercial entities, flight controllers, etc. and all the many passengers killed or incarcerated, the aircraft hidden to be used at a later time for a heinous purpose and it has done so without appearing on military or commercial radar, satellite imagery or ELINT systems when it had to pass through a hot spot part of the world (India) and this rather complex conspiracy has taken place without a word of it being leaked?

Unless something new/different comes to light it is simply easier (and oh, so much more likely) to believe that an airliner crashed in the ocean. Why? We may never know. But making such an event a Tom Clancy novel or listening to those that dream up such convoluted theories overlooks the most likely scenario while tasking valuable resources such as satellites to look for something that isn’t there.

I would rather keep satellites over Iran and drones over Afghanistan where they belong than to move them away looking for a commercial airliner that doesn’t exist anymore. But that’s just me.

2489

And just to continue the theme, let’s assume that the theories you posted are correct, Clint. Let us assume that the airliner is sitting in a hangar in Pakistan right now. To what end? To be used as a bomb at a later date with the target being Israel or the United States? That is the most likely reason, correct?

Since this must be done with the complicity of the Pakistani government, wouldn’t it be far easier to simply use an existing commercial airliner already on the ground at a Pakistani airport claiming it has been grounded due to mechanical problems while it is then outfitted to be used as a WMA?

Wow, that would be sooooo much easier than killing all the passengers, flying an airliner from a different country via converted pilot hijackers, keeping the aircraft hidden on its flight while landing it and hiding it from view without a trace and keeping the hundreds of people that must be involved in such an operation muzzled while still avoiding the the resources such as satellites that will continue looking for it. Why go to such great lengths?

Just grab one of the many large airliners that land everyday in Pakistan. They are already there for the taking with far fewer complications.

2490

This is still the best thread on the forum :D. Hogarste, I don’t believe in conspiracy theories. I do think there’s probably a hint of truth to some of them. Like the illuminati. I doubt there’s a secret organization of rich people controlling everything. But I do think there’s a handful of rich people that influence things a lot. Look at Warren Buffet, all he has to do is say he likes a stock and it flies sky high lol. Look what he did during the financial crisis or back in the late 80’s with solomon. He’s a heavyweight and he knows how to throw it. Also if there’s an illuminati do you really think they’d let Jay Z in? Or kesha. Like who’s gonna let that ***** into a secret society?

2491

[QUOTE=“IyaJenkei;617177”]This is still the best thread on the forum :D[/QUOTE]

Lol it says a lot about BP these days that anyone could think that its best thread is one which has nothing to do with trading!

2492

[QUOTE=“SimonTemplar;617432”] Lol it says a lot about BP these days that anyone could think that its best thread is one which has nothing to do with trading![/QUOTE]

I’m shocked that anyone would think that a thread I’ve been active on is the best on BP.

2493

[QUOTE=“Hogarste;617456”] I’m shocked that anyone would think that a thread I’ve been active on is the best on BP.[/QUOTE]

Just goes to show how much the place has slumped over the past year or two. :wink:

2494

So I joined the local libertarian party in Australia. I always figured libertarians to be quite a pragmatic lot who believed in free markets and liberty etc. because they tended to provide superior outcomes. Now, though, I think many are as idealistic and dogmatic as the “other side” (socialists).

2495

Watch this video:

"I abducted your girls.

"I will sell them in the market, by Allah.

"There is a market for selling humans.

"Allah says I should sell. He commands me to sell.

“I will sell women. I sell women.”

Boko Haram leader Abubakar Shekau,
in a video first obtained by [I]Agence France-Presse,[/I]
translated from the local Hausa language by CNN

And there you have the

Muslim / Terrorist / Sharia / Islamic / “Religion of Peace”

in action!

2496

Video: Dinesh D’Souza’s Mock Interview with Obama

In case you’re not up-to-speed on the back story, HERE is an explanation.

2497

We have crappy life in El Salvador.
We got lotta problem there.
So we sneak into USA.

All our problem gonna be [B]your problem[/B] now, ha, ha, ha.

USA gonna give us free food, medicine, money,
house, car, driving license, citizen, voting,
maybe more free stuffs too, ha, ha, ha.

Obama say everything free in America.
We love Obama.

You no want us here?

:42:

2498

We are in BIG trouble , thanks to our president .

2499

I looked into moving to Australia. They actually have a list on their website of skills/jobs they feel they have a need for. Don’t have these and you don’t get in. Pretty simple. Their government didn’t feel like they had a need for truck drivers, so no Australia for me.

Always feel like we’re the ones under attack for our border policy, but that may be just because I live here.