Manipulation, Not Error, Behind Market Plunge

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11 years ago Liberty Pulse

Manipulation, Not Error, Behind Market Plunge

The major media say the chaos on Wall Street was the result of a “trader error, possibly a typo,” as the Washington Post put it. Some reports claim the culprit was a “fat finger” on a computer somewhere that pressed the wrong key. But Zubi Diamond, author of the Wizards of Wall Street, says these claims are all lies. “What happened in the market on Thursday is a typical example of pure market manipulation” by unregulated hedge fund short sellers.

His book, whose subtitle refers to the scam that elected Barack Obama, warns that the same hedge fund short sellers were behind the financial crash of 2008 that paved the way for Obama’s election to the presidency.

Diamond says the historic market plunge on Thursday was “due to computerized hedge fund short selling because there is no protection for the invested capital in the equity markets. There is no uptick rule, no circuit breakers and no trading curbs. Our market is primed for manipulation.”