Glad someone at the Standard finally starts looking at international finance.
As we speak 84% of all trade is done by high frequency trading computers and only 16% by human traders. High frequency trading is a system not just for trading but it is a means to manipulate the market in the direction the big banks want it to go. It is also used to destroy countries such as Greece, Spain and lately my country of origine Holland.
Without a trace the too big too fail banks including John Key’s Bank of America manipulate the stock market at their hearts content raking in billions of digital cash which have nothing, absolutely nothing to do with the main street economy which in the US for all intends and purposes has gone the way of the dodo.
In the mean time Central banks around the world are printing money like there is no tomorrow and globally wages are stagnant causing inflation and deflation at the same time with food prices rising and the not so important stuff dropping in price causing whole sectors of production in China to collapse too.
The software programs and derivatives algorithms by the way were developed by banks such as Merrill Lynch in the late 90s and here is a quote from John Key about his time as the manager of the Bonds and Derivatives department of Merrill Lynch:
“I had a whole lot of people working for me who were at the cutting edge of delivering quite complex and new and innovative products. They tended to either be a new product or into a new market, usually the emerging markets, Russia, Brazil, Argentina. I wasn’t the guy sitting there dreaming it all up, but I was the guy who was responsible for those people.” Unauthorised biography July 2008 NZHerald (Eugene Bingham)
In fact it can be argued that the Black Monday economic collapse may have been one of the first computer generated collapses and it was only four days later that “patient zero” Bankers trust forex trader Andrew Krieger with the aid of non other than John Key (solely responsible for the trades) attacked the NZ dollar with the first computerised Derivatives attack in history.