Today we had a hacked tweet which caused a flash crash in the S&P500, the US equity market. The hacked tweet caused the S&P500 to crash over a time frame of 3 minutes but quickly recovered when it came out it was a fake tweet. Within that 3 minutes 260,000 S&P 500 e-mini contracts traded in the three minutes following the fake AP Tweet. That is a ~$20.4 Billion notional value ‘changed hands’. This was a drain of liquidity out of the system, a case of trading algorithms gone crazy where traders and investors were burnt.
Courtesy of Zerohedge:
‘Spain’s Rajoy Yields To Merkel, Agrees That EU Countries Must Cede Sovereignty (Tyler Durden)
In what seems like a bow to his overlords in Berlin, Spanish Prime Minister Mariano Rajoy has unleashed a somewhat remarkable torrent of terrible realization and truthiness:
*SPAIN PM SAYS EUROPE ECONOMY WORST THAN FORECAST THIS YEAR
*SPAIN PM SAYS ALL EU COUNTRIES ARE REVIEWING GROWTH FORECASTS
*SPAIN PM SAYS MUST TAKE DIFFICULT DECISIONS FOR COUNTRY’S GOOD
*SPAIN PM SAYS EU COUNTRIES MUST ACCEPT TO GIVE UP SOVEREIGNTY
*EU countries’ giving up sovereignty to the bloc is crucial for its future’
Germany achieving what it couldn’t achieve through 2 world wars and not forgetting they’re claiming Cyprus and Greece’s gold as part of their bailouts. The troika are single handedly stealing the wealth of sovereign nations, they like gold!
And finally, on today’s Max Keiser it is revealed that the latest take down in gold prices was caused by ‘institutions’ dumping 1100 tons of paper gold. This is the equivalent of 45% of annual production dumped onto the market, in what can only be blatant market manipulation to suppress the price. Catch the full episode here Max Keiser Episode 435