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James Quinn
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James Quinn is a senior director of strategic planning for a major university. James has held financial positions with a retailer, homebuilder and university in his 25-year career. Those positions included treasurer, controller, and head of strategic planning. He is married with three boys and... More
My blog:
TheBurningPlatform.com
  • PONZI SCHEME REVEALED - THAT WAS NO GLITCH 0 comments
    May 7, 2010 9:00 AM

    As I watched Larry (Mr. V) Kudlow and Jim (Never Tire of Being Wrong) Cramer act like they knew what they were talking about last night, it occurred to me what really happened yesterday. Larry looked constipated and Jim Cramer had this wierd smirk on his ugly mug as he tried to convince America that the market dropped 1,000 points because one guy hit a B for billion instead of an M for million. Give me a FUCKING BREAK. That is a bold faced lie. That is not what happened.

    Over the last few months I’ve kept wondering how the market keeps going up. Everyday investors have been withdrawing money from the market over the last year. Mutual funds were already down to 3% cash. That is an all-time low. The banking system and the stock market are completely controlled by Goldman Sachs, JP Morgan, Citicorp, Bank of America, Morgan Stanley, and Wells Fargo. These 6 banks control the country and our politicians. That is a fact.

    The only way this market could go up without the average Joe and mutual funds buying is from the Federal Reserve giving these 6 banks free money and instructing them to buy stocks with those funds. They certainly aren’t lending that money out. The trading divisions of these 6 banks have generated all of their profits, as their mortgage and credit card divisions continue to hemmorage losses.

    Greece was the flashpoint for yesterday’s collapse. These 6 banks use computers to do all of their trading. Humans are not involved. These computers are programmed by “brilliant” MBAs like the ones who created CDOs and Subprime mortgages. All the computers are programmed to react exactly the same to a given situation. The Greece situation scared enough people that the market went down 200 points. Some algorithm in these computers was triggered and the computers all said to sell. One little problem. Since the only trading going on in the market is between these 6 banks, there was no one to buy when the computers said sell.

    What this drop revealed is that the stock market is a giant Ponzi scheme. You are the sucker. The MSM, Wall Street and government officials will come up with a story to try to snow the ignorant masses. Too late. The truth was revealed to anyone with their eyes open.

     
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