monetary system breakdown, goldman sachs scrambles on options

[Large Sarge]

http://goldenageofgaia.com/2013/08/evidence-of-money-system-breakdown-goldman-sachs-working-with-exchanges-to-resolve-options-trades/

[Cebu_4_2]

Evidence of Money ‘System’ Breakdown? Goldman Sachs Working With Exchanges to ‘Resolve Options Trades’
Posted by Stephen Cook (http://goldenageofgaia.com/author/stephen/) on August 21, 2013 / Comments Off Category: World Economy (http://goldenageofgaia.com/category/world-economy-2/) Tags: Goldman Sachs (http://goldenageofgaia.com/tag/goldman-sachs/), Money System Breakdown (http://goldenageofgaia.com/tag/money-system-breakdown/)

https://d3ojdig7p1k9j.cloudfront.net/wp-content/plugins/lazy-load/images/1x1.trans.gifhttps://d3ojdig7p1k9j.cloudfront.net/wp-content/uploads/2013/08/goldman-sachs-300x176.jpg (http://goldenageofgaia.com/2013/08/evidence-of-money-system-breakdown-goldman-sachs-working-with-exchanges-to-resolve-options-trades/goldman-sachs-5/)Stephen: I’m going to hand over to a man I follow pretty regularly for his astute offerings on what’s going on in the financial markets. So it’s over to Bix Weir – www.roadtoroota.com – for his commentary and thoughts on this short but possibly evidential news story below…
Bix Weir: Looks like Goldman is the first to show the signs of systemic break down of the virtual monetary system.
Apparently their Market Rigging Program went wonky this morning and they lost over $100M in minutes!
But no worry…they are just going to have these transactions voided!
So what would happen if these “problem trades” had MADE millions in minutes for Goldman? Do you think the exchanges would have voided those transactions? NOT A CHANCE!
My take: Bring on the END GAME!
Goldman Sachs Working With Exchanges to Resolve Options Trades By Donal Griffin, Bloomberg News – August 21, 2013
http://www.bloomberg.com/news/2013-08-20/goldman-sachs-working-with-exchanges-to-resolve-options-trades.html
Goldman Sachs Group Inc. is working with exchanges to resolve faulty options trades that roiled markets this morning and any losses “would not be material to the financial condition of the firm,” according to an e-mail from spokesman David Wells.
At least three operators of U.S. options exchanges are reviewing trades that took place at the beginning of the day and NYSE Amex Options said most of the transactions may be canceled.
A “large number” of trades in tickers beginning with letters H through L in the first 17 minutes are being examined by NYSE Amex Options, it said in a statement. CBOE Holdings, the largest venue, said it is examining trades between 9:30 and 9:41 a.m. Nasdaq OMX Group Inc. is reviewing options transactions from 9:30 to 9:47 a.m., according to its website.

[chad]

i was interested in this until i saw bix weir.

[osoab]

i was interested in this until i saw bix weir.

Thanks. You saved me effort.

[aeondaze]

Goldman Sachs Group Inc. is working with exchanges to resolve faulty options trades that roiled markets this morning and any losses “would not be material to the financial condition of the firm,”

Says it all really.

This is what the breakkdown of the monetary system will come to - Big financial institutions claiming trades that cause substantial loses 'faulty' and then have them cancelled.

Gota love those 'free markets'

[Neuro]

Says it all really.

This is what the breakkdown of the monetary system will come to - Big financial institutions claiming trades that cause substantial loses 'faulty' and then have them cancelled.

Gota love those 'free markets'
In away it is interesting, because on the other side of the bet you have a few speculators or high frequency trading machines that made a 100 million, when GS lost the same. They may have used those profits as security for loans of a billion to make an investment elsewhere, and when the previous trade get cancelled they get short squeezed, and have to sell rapidly... This practice of backtracking on previous transactions could very quickly turn ugly.

[Hypertiger]

http://hypertiger.blogspot.ca/

[Hypertiger]

Yes the owners of the free markets decide how free they are.

and since you all are the supply of power to the banks...and you all have reached your maximum potential to supply the demand for yield by all of you from the banks.

It's cannibalization time.

during the inflation of a bank...you can live off the yield.

during the deflation of a bank...there is no yield.

You all on Earth are the supply of power to the system which you demand power from to sustain your existence.

and when the demand for power by the net consumers becomes greater than the net producers of power can supply.

it's the black screen of death.

[Libertarian_Guard]

http://hypertiger.blogspot.ca/

"hint...There was not a hope in hell of Bretton woods being sustained...all the people that agreed to Bretton woods back in 1944 were obviously economic morons."



How could you possibly know the designers true 'intent' concerning the sustainability of Bretton Woods? Regardless of what people say, most agree that nothing lasts forever. I think they were looking to buy some time. Twenty, fifty or two hundred years? Who knows? No one knew back then, but they knew that when it falls apart a new scam will be hatched.

[Horn]

This practice of backtracking on previous transactions could very quickly turn ugly.

Well don't think for a second that the 1% will go straight to the bottom.

[Jewboo]

You all on Earth are the supply of power to the system which you demand power from to sustain your existence.




http://media-cache-ec0.pinimg.com/custom_covers/216x146/161566774070926897_1365201496.jpg



:rolleyes: Great wireless internet connection you have on your planet HT. How much do you pay each month?

[Hypertiger]

Bretton Woods was impossible to sustain from square 1....1971 and the closing of the gold window was a mathematical certainty

The economic system is absolute capitalistic.

It takes more power than it give

That is the same as chopping down trees faster than they regrow to sustain your existence.

Responsible capitalism is sharing power as equally as possible.

Or chopping down trees as fast as or slower than they regrow.

Absolute capitalism is also known as irresponsible or mindless capitalism.

Taking more power than you give is the default path of least resistance to the logical conclusion .

Rocks rolling down hills, water flowing to the sea, bacteria in a petri dish, lightning bolts....all mindlessly follow the path of least resistance.

Bretton Woods is just as predictable as all those things.

The intent of absolute capitalism is to take more power than you give trying to defeat Truth and obtain absolute power over all and everything.

[Hypertiger]

I'm well aware of how what I helped to build up over the past few decades works and my position within it...I'm not communicating with me.

I'm communicating with you all...everyone else other than me.

[Horn]

http://www.youtube.com/watch?v=z9bG7hLIttA

[aeondaze]

In away it is interesting, because on the other side of the bet you have a few speculators or high frequency trading machines that made a 100 million, when GS lost the same. They may have used those profits as security for loans of a billion to make an investment elsewhere, and when the previous trade get cancelled they get short squeezed, and have to sell rapidly... This practice of backtracking on previous transactions could very quickly turn ugly.

Yep, for sure. I was thinking about the flow on consequence of this sort of activity and it may prove interesting viewing to watch the very fabric of our global financial system getting un-stitched as it were, trade by trade, contract by contract.

Its like those 25kg feed bags which once the first stich is undone the whole bag opens with one pull on the string...

[Hypertiger]

Exponential inflation leads to exponential deflation...doubling times and half life's.

Everyone fights it on the way down...recession is a term used to describe a reflation out of a deflation that was successful.

The last or final recession will not be escaped from.

When the bottom holding it up collapses into depression.

[Horn]

When the bottom holding it up collapses into depression.

What do you think of this mango picture, isn't she beautiful?
5256

Talk about food power.

[Neuro]

http://media-cache-ec0.pinimg.com/custom_covers/216x146/161566774070926897_1365201496.jpg



:rolleyes: Great wireless internet connection you have on your planet HT. How much do you pay each month?
Titans don't pay for wireless, besides it is a moon. Moron! Now go and suck from a bottom...