The criminal and fraudulent stock market makes its first killing

I have written many times about the fraudulent and flawed stock market trading system coming out from the West when computers and computer traders were legally allowed to cheat the innocent traders, including the big funds that do not operate high speed computers and the retail traders. And the whole exchange system was redesigned to facilitate the computers and computer traders to make their cheating of other traders easier, more convenient and faster. I am not going repeat what I have said before but just to point out this piece of news coming out from London.

‘Dark Days at the Folly as Nomura Traders Join Europe’s Jobless
2016-06-08 04:00:00.3 GMT

By Liam Vaughan
(Bloomberg) -- They made their way in dribs and drabs. Hundreds of displaced bankers, shuffling up Suffolk Lane to All. Bar One and along Upper Thames Street toward the Folly, the only pubs in the City of London open that early on an overcast
Tuesday morning.
It was April 12, and Tokyo-based Nomura Holdings Inc. had just informed about 600 traders, analysts and advisers that they were no longer needed. The bank was pulling out of equities in Europe, affecting roughly one in five employees in the region.’

Even a big operator like Nomura with 600 employees in equity trading could not survive this fraudulent trading system. More will follow suit before the equity market freezes up with no more traders in the market except the computers and computer traders. And no one is looking at the elephant in the trading floor. And all those responsible for the fiasco are pretending that everything is fine.

It would not be long, the damage is so severe to all the stock markets around the world that were forced to adopt this criminal system that not only traders are fleeing, even the companies are starting to delist when it becomes foolish to pay listing fees only to see the value of their stocks turning into smokes and risked being taken over. No clear thinking companies would want to list their companies in the stock exchanges any more. Only those that are thinking of making a quick buck will do so and with the opportunity to buy back all the stocks on delisting at a fraction of the listing price. It is going to be the trend.

Watch for the curtains to fall and everyone will plead ignorant and innocent and would blame everything under the sky except the elephant they brought into the trading system.


Anonymous said...

So how will all this criminal and fraudulent stock market trading affect SGX, and more importantly, also PAP as a ruling party?

Will it make the Sinkie opposition strong and ready to be govt? If not, will majority voters continue to vote for PAP as before? And if so, what's the issue for PAP?

And is there anything PAP can do about the criminal and fraudulent stock market trading? If not, will PAP care even if traders die, Sinkies die but majority still alive and happy continue to vote for PAP?

Anonymous said...

If we can shut down internet access for civil service in one year's time.
Why is it so difficult to shut down High Frequency Trading (HFT)?

How much fees do HFT companies pay to the SGX?
How much fees do civil servants pay to the government for internet access?

Anonymous said...

Does Temasek, GIC or CPF have any money invested with hedge funds?
Any other public or public-owned government entities with investments in hedge funds?
- Why am I asking?
- see below
Why Big Investors Are Finally Pulling Their Money Out of Hedge Funds



Ⓜatilah $ingapura⚠️ said...

@ RB

You are talking about people playing the (rigged) market to make money "legitimately".

However, not everyone is playing the (rigged) market by the rules.

Why do people short stocks? Because they "figure out" that the price of a particular stock will fall, so that they can buy the stock at a cheaper price and pocket the profit after paying back their shorts.

Therefore if you "just happen to know" if say, bank stocks will fall, you could confidently take short positions on certain banks you absolutely know are going to experience some "bad news" in the near future.

When certain "events" occur like this and that, you know you'll be feeling "happy" because you shorted the stock, and after the "events", the stock price is in the toilet.

Why play by the rules when you can make so much more money by controlling the outcome? How to beat HFT systems?

HACK the market!

Ⓜatilah $ingapura⚠️ said...

The idea of "getting rid of humans and replacing them with machines" has to be re-thought.

It is all very well in theory: replace slow fallible humans with fast "perfect" machines and thus make more and more money by getting rid of these handsomely paid professionals.

Well, no. The "extra profits" you think you can make by tossing very smart humans onto the scrap heap and replacing them with algorithms and autonomous networked hardware is a hacker's dream come true.

Whilst one can accept that algo trading and HFT systems are not going away anytime soon, the wise thing to do is to put a cap on the "progress"---not because HFT and algo trading is "unfair" but the simple fact that too many computer systems running complex software just for the purposes of "making more money" at the expense of humans is downright DANGEROUS.

The state of the world has changed VERY QUICKLY in the last 10 years or so. It has come to the point where the "bad guys" are WINNING, and the "good guys" are struggling to keep up. The "bad guys" have access to the BEST AVAILABLE TECH and they themselves have well-funded R&D divisions distributed all over the world which makes them difficult if not impossible to bust. They have the ability to bypass the most sophisticated firewalls and thwart the best anti-malware software, penetrate systems and remain UNDETECTED for months if not years.

You cannot use software alone to beat malicious software directed by humans. You need HUMANS with the skills to DEFEND your IT infrastructure. Getting rid of humans purely for profit is a BIG MISTAKE, because it is these humans who can spot if something is "off" and sound the alerts immediately. Although humans are easy to fool, they are also good at spotting if something is "wrong", especially if they are specialised and have good intuition.

At the end of the day HACKING relies on DECEPTION---which requires innovative human thinking. Spotting deception and being suspicious of "diversionary tactics" is also something trained humans are good at.

When Artificial Intelligence and robotics play a bigger part in our lives, malicious hackers are going to have a field day, because we are going to rely on these machines for most of the stuff in our lives from medical services, to grocery shopping and even car and air travel.

We got rid of the humans, and got machines to serve the remaining humans.

Dangerous. That's just inviting trouble, which will come. You think you can save and make more money by getting rid of human labour and expertise? Guess what? The hacker is going to take all your "profits" and then some, and chances are they won't be caught.

Singapore being a financial center is ripe for the picking. So much money and so many assets are "controlled" by Singapore's financial sector.

For e.g.: there's billions in Singapore's CPF system. How well is the money protected? Does the govt have adequate security? What would they do if there was a breach...and god forbid, actual THEFT of the funds?

Could hackers steal Singapore's vast money reserves?

I don't know. I only ask questions.

Anonymous said...

Rb //And all those responsible for the fiasco are pretending that everything is fine.//

Those responsible may be from the same mould as those during the GFC?

Physicists, nuclear scientists etc turned financial geeks "inventing (toxic) complex products" ( and tools ) that are mostly short term in nature ( take a quick killing )?

And now some are spending big public $$$ into pre-programmed driverless cars?

Anonymous said...

What would happen to the computer hardware and programe embedded in a driverless vehicle when it ends up in an accident?

Anonymous said...

What if after a crash, the "robot driverless vehicle" embedded programme/ AI become "hay wire"?

Anonymous said...

A US decedent son of migrants from Afghanistan was reported angry when he saw 2 men kissing.

He brought semi auto guns and other devices to gay bar at Orlando and shot 50 dead, 53 injured. He was killed.

Men kissing identified as a cause.

In Singapore the govt was allowing gay meeting at HL as if it is a great day of celebration.

Unless voters vote for opposition, Singapore can be in trouble for obvious reason, especially with immigrants from different places, some may be pro gay.

Anonymous said...

Is it possible that this "driverless robot", after a crash, become a "transformer", albeit a "kee seow" one, run amok and start mowing down whatever are in its way till it runs out of fuel?

Anonymous said...

What would be the carnage, hypothetically, at the end of its "kee seow" rage, after its embedded programme malfunctions upon a crash?

patriot said...

Thought me am a very negative Sinkies, but reading this thread proves that I deserve better.
Science, inclusive of intelligent technology, artificial intelligence is to wholesomely benefits the World if not the Cosmos.

However, as can be witnessed thus far, the Science Community is made-up of nimcompoop and evil folks who either want to rule or totally destroy the World.
They have the ability to mass produced food and keep beings healthy and peaceful. BUT, they DONT do it. They make weapons of mass destruction, they want to control others, all the Ego of a FLAWED creation of the Species. FUCK THE SICK CREATOR, if there is one and whoever that is.

Anyway, beings come and go, nations too same same. As a Sinkies, I shall be no more as a being soon and Sunland likes me will oso face it's imminent end. Matilda Singapura, Manila Sinkies.


Chua Chin Leng aka redbean said...

The underlying assumption of a smart city is that everyone is smart and know how to use and navigate around all the smart system. With half the population comeing from the 3rd world, how is that going to happen when half the Sporeans are computer illiterate or daft?

One day, someone will just switch off all the computer systems in the country by a bug and everything will come to a halt.

patriot said...

The Concluding Paragraph shud read as Matilah Singapura, Matilda Sinkies.
And Sunland to be change to Sinland.

My apology.


Ⓜatilah $ingapura⚠️ said...


You're concerns are absolutely legitimate.

Today's human-driver cars are actually computers on wheels. There are 70-100 on board computers in today's cars, all talking to each other through a host of UNSECURE protocols and a connection called CAN (Controller Area Network). Even in a mid-priced car, the complexity is mind-boggling.

Modern car computers have around 100 million lines of code. Compare that to the less than 20 million lines of code in the computers of Lockheed Martin's F22 Raptor---a motherfucking deadly weapon only available for use by sovereign states. Here are the 5 most hackable cars.

To learn how cars can be hacked, download for free or pay---donation or purchase if you prefer---the Car Hacker's Handbook. ** Disclaimer don't do evil stuff to people and put them at potentially lethal risk. For your info and education purposes only **

This is for human driver cars. Already a hacker, 1000's of miles away can take over control of your car, and what they can do is up to their imagination. Once your car systems are "penetrated", your car is useless. Get a new one.

Just for your info: the electronics in my vehicles are shielded (aluminum foil---cheap and good) as best I can. The CAN bus connector is plugged up with a dummy connector, and of course shielded. I have disengaged keyless entry---door can only be opened with the physical key. Pain in the ass, I know, but...

The above is for human driven cars. With driverless vehicles, the complexity is multiplied with lots of opportunity for hackers to attack the vehicles systems. Here are some things they can do:

1. Cause the vehicle to crash
2. Cause the vehicle to disobey traffic rules like go down the wrong way in one-way streets, beat red lights, stop in the center lane of a busy freeway.
3. Can be used for kidnapping high-value targets or women and children for the purposes of illicit sexual activity
4. Can be weaponised by terrorists to deliver a vehicle rigged with explosives to specific targets---guided by GPS, of course, just like the military does with its smart bombs and missiles.

Have fun, and sweet dreams!

Ⓜatilah $ingapura⚠️ said...

@ 841 RB:

>> One day, someone will just switch off all the computer systems in the country by a bug and everything will come to a halt. <<

That is one scenario. "Halting" a cuntry's IT infrastructure is one thing. However ensuring that it is still running is better for the hackers, because they can control stuff and direct attacks to specific objectives.

Unfortunately the govt must be "entrusted" with a universal "kill switch" to turn off the IT infrastructure selectively or in total should the need arise. They also must have protocols in place to ensure planes don't fly into each other when air traffic controller systems go offline, or ensure that patients in ICU don't suddenly lose their lifesaving mechanisms...stuff like that.

I have my doubts that Singapore is that prepared. However, I may be wrong. Singapore has some great IT talent. I hope they are put to good use, as it could save lives.

Ⓜatilah $ingapura⚠️ said...

P.S. If the cuntry's electric grid is all of a sudden shut down, we are at war. This is usually one of the first things which occur in an attack. During the Iraq war, the US military disabled 85% of Iraq's electrical power supply before deploying the sorties.

patriot said...

I suspect that Flt MH370 was one
victim of high tech.

Me oso dares to predict that ultimately all beings shall be victims of Science.