We Have the Illusion of Markets

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Craig Hemke, who has Wall Street experience that dates back to 1990, says, “The whole thing is a charade akin to a movie set. . . . We have the illusion of markets, and that is propped up on a daily basis by the financial media who has an interest in propping it up. They parade money managers on there who have an interest in making it seem all is well because they are collecting fees. You also have the Fed pretending to be in control through their interest rate policies and trying to make it sound like the economy is doing just fine. . . .All of it is a hall of mirrors or a charade to try to convince everybody that it is all okay. When I got into this business 25 years ago, there was an actually functioning stock market . . . it was buyers and sellers, actually real people. Now, 75% of the volume of the listed stocks is done by high frequency trading computers. . . . It is a fraud, a scam and a charade.”Craig Hemke, who has Wall Street experience that dates back to 1990, says, “The whole thing is a charade akin to a movie set. . . . We have the illusion of markets, and that is propped up on a daily basis by the financial media who has an interest in propping it up. They parade money managers on there who have an interest in making it seem all is well because they are collecting fees. You also have the Fed pretending to be in control through their interest rate policies and trying to make it sound like the economy is doing just fine. . . .All of it is a hall of mirrors or a charade to try to convince everybody that it is all okay. When I got into this business 25 years ago, there was an actually functioning stock market . . . it was buyers and sellers, actually real people. Now, 75% of the volume of the listed stocks is done by high frequency trading computers. . . . It is a fraud, a scam and a charade.”

See the video here.

 

 

 

 

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