In this video, Joe Saluzzi of Themis Trading, an expert on high-frequency trading (HFT) algorithms, exposes the whole world of hyper-speed technology operating in the markets that most regular investors are completely unaware of very vulnerable to.
Stop me if you’ve heard this before.
GDP falls 35% — the worst quarterly drop in the history of the U.S. economy, yet the Too-Big-To-Fail banks post record revenues.
Got that? More than 50 million Americans have lost their jobs as a result of the economic carnage inflicted by the Covid-19 pandemic, yet the big banks are not only unscathed, but positively swimming in profits.
We live in a system run by the big banks, for the benefit of banks. We, the public, are simply grist for its mill.
After all the U.S. Federal Reserve, which wields immense global power and influence as the controller of the world’s reserve currency, is owned by its private member banks. Should we really be surprised how the banks always seem to come out on top?
And while we frequently criticize Fed policy for enriching Wall Street at the expense of Main Street, the banks are also picking your pockets in ways that the public largely ignores.
Joe’s key takeaway is that markets, and the financial institutions operating them, are casinos. They have engineered a system that puts the odds in their favor. If you invest your hard-earned capital without clearly understanding the risks at play, then you’re a poker table sucker.