by Franklin Sanders www.the-moneychanger.com
“Let’s ponder a moment the pound sterling’s overnight flash crash. At 6 seconds after 1:00 Greenwich Mean Time, the pound was at $1.2609. Three seconds later, at 9 seconds after 1:00 GMT, the pound was at $1.1840, down 6.1% in three seconds. Now it later recovered to $1.24+, but that isn’t the story. The forth most traded currency on planet earth dropped to a 31 year low, in 3 seconds. A similar flash crash hit the South African rand in January and the New Zealand dollar last year.
“This goes far beyond puking in the waste basket, because computer trading happens faster than you can even reach your wastebasket and wipes you completely out. Globally, currency markets trade over $5 trillion a day, but these sudden waves of computerized (if it is computerized trading & not some/thing/body else) selling render markets practically illiquid because they are so dangerous.
“I have no inside knowledge, but anybody with two brain cells and minimal knowledge of how the world works can see this attack as a way to force the UK government out of its announced plans to rapidly & thoroughly pursue Brexit. Lots of suspects might oppose that: big banks, which are ALL now criminal organizations, EU government, US government, numerous central banks, or just rank speculators who have learned how to jimmy computers.”
