Sunday, March 30, 2014
"Markets are rigged"
During an interview on 60 minutes, Michael Smith explained his reasoning for calling the U.S. markets "rigged". "The United States stock market, the most iconic market in global capitalism, is rigged ... by a combination of the stock exchanges, the big Wall Street banks and high-frequency traders," he said. He says that everyone who has any investment at all in the U.S. markets are the victims. The Idea is that the insiders are able to move faster than you and play it against orders in ways you don't understand. What are your thoughts on this? Are the U.S. markets truly rigged?
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I also watched this interview today and found it shocking that this was happening and no one was really doing anything about it. Its amazing that companies were spending millions on making their computers work just milliseconds faster. I want to see what happens with the guys new stock exchange in the future.
ReplyDeleteIs it another one of those conspiracy theories or is it really the truth?
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