Best of the Week
Most Popular
1. US Housing Market Real Estate Crash The Next Shoe To Drop – Part II - Chris_Vermeulen
2.The Coronavirus Greatest Economic Depression in History? - Nadeem_Walayat
3.US Real Estate Housing Market Crash Is The Next Shoe To Drop - Chris_Vermeulen
4.Coronavirus Stock Market Trend Implications and AI Mega-trend Stocks Buying Levels - Nadeem_Walayat
5. Are Coronavirus Death Statistics Exaggerated? Worse than Seasonal Flu or Not?- Nadeem_Walayat
6.Coronavirus Stock Market Trend Implications, Global Recession and AI Stocks Buying Levels - Nadeem_Walayat
7.US Fourth Turning Accelerating Towards Debt Climax - James_Quinn
8.Dow Stock Market Trend Analysis and Forecast - Nadeem_Walayat
9.Britain's FAKE Coronavirus Death Statistics Exposed - Nadeem_Walayat
10.Commodity Markets Crash Catastrophe Charts - Rambus_Chartology
Last 7 days
Stock Market Dow 30k before End of 2020? - 13th Jul 20
Credit Market Investments Turned Into End-User Risk Again - 13th Jul 20
Investors Are Going All-In on This Coronavirus Proof Industry - 13th Jul 20
5 Vital Insights That You Can Gain From Instagram Trackers - 13th Jul 20
Stop Believing The 'Economy' Is The Same As The Stock Market - 12th Jul 20
Spotify Recealed as The “Next Netflix” - 12th Jul 20
Getting Ahead of the Game: What Determines the Prices of Oil? - 12th Jul 20
The Big Short 2020 – World Pushes Credit/Investments Into Risk Again - 11th Jul 20
The Bearish Combination of Soaring Silver and Lagging GDX Miners - 11th Jul 20
Stock Market: "Relevant Waves Vs. Irrelevant News" - 10th Jul 20
Prepare for the global impact of US COVID-19 resurgence - 10th Jul 20
Golds quick price move increases the odds of a correction - 10th Jul 20
Declaring Your Independence from Currency Debasement - 10th Jul 20
Tech Stocks Trending Towards the Quantum AI EXPLOSION! - 9th Jul 20
Gold and Silver Seasonal Trend Analysis - 9th Jul 20
Facebook and IBM Tech Stocks for Machine Learning Mega-Trend Investing 2020 - 9th Jul 20
LandRover Discovery Sport Service Blues, How Long Before Oil Change is Actually Due? - 9th Jul 20
Following the Gold Stock Leaders as the Fed Prints - 9th Jul 20
Gold RESET Breakout on 10 Reasons - 9th Jul 20
Fintech facilitating huge growth in online gambling - 9th Jul 20
Online Creative Software Development Service Conceptual Approach - 9th Jul 20
Coronavirus Pandemic UK and US Second Waves, and the Influenza Doomsday Scenario - 8th Jul 20
States “On the Cusp of Losing Control” and the Impact on the Economy - 8th Jul 20
Gold During Covid-19 Pandemic and Beyond - 8th Jul 20
UK Holidays 2020 - Driving on Cornwall's Narrow Roads to Bude Caravan Holiday Resort - 8th Jul 20
Five Reasons Covid Will Change SEO - 8th Jul 20
What Makes Internet Packages Different? - 8th Jul 20
Saudi Arabia Eyes Total Dominance In Oil And Gas Markets - 7th Jul 20
These Are the Times That Call for Gold - 7th Jul 20
A Reason to be "Extra-Attentive" to Stock Market Sentiment Measures - 7th Jul 20
The Beatings Will Continue Until the Economy Improves - 6th Jul 20
The Corona Economic Depression Is Here - 6th Jul 20
Stock Market Short-term Peaking - 6th Jul 20
Gold’s Major Reversal to Create the “Handle” - 5th July 20
Gold Market Manipulation And The Federal Reserve - 5th July 20
Overclockers UK Custom Build PC Review - 1. Ordering / Stock Issues - 5th July 20
How to Bond With Your Budgie / Parakeet With Morning Song and Dance - 5th July 20
Silver Price Trend Forecast Summer 2020 - 3rd Jul 20
Silver Market Is at a Critical Juncture - 3rd Jul 20
Gold Stocks Breakout Not Confirmed Yet - 3rd Jul 20
Coronavirus Strikes Back. But Force Is Strong With Gold - 3rd Jul 20
Stock Market Russell 2000 Gaps Present Real Targets - 3rd Jul 20
Johnson & Johnson (JNJ) Big Pharma Stock for Machine Learning Life Extension Investing - 2nd Jul 20
All Eyes on Markets to Get a Refreshed Outlook - 2nd Jul 20
The Darkening Clouds on the Stock Market S&P 500 Horizon - 2nd Jul 20
US Fourth Turning Reaches Boiling Point as America Bends its Knee - 2nd Jul 20
After 2nd Quarter Economic Carnage, the Quest for Philippine Recovery - 2nd Jul 20
Gold Completes Another Washout Rotation – Here We Go - 2nd Jul 20
Roosevelt 2.0 and ‘here, hold my beer' - 2nd Jul 20
U.S. Dollar: When Almost Everyone Is Bearish... - 1st Jul 20
Politicians Prepare New Money Drops as US Dollar Weakens - 1st Jul 20
Gold Stocks Still Undervalued - 1st Jul 20
High Premiums in Physical Gold Market: Scam or Supply Crisis? - 1st Jul 20
US Stock Markets Enter Parabolic Price Move - 1st Jul 20
In The Year 2025 If Fiat Currency Can Survive - 30th Jun 20
Gold Likes the IMF Predicting a Deeper Recession - 30th Jun 20
Silver Is Still Cheap For Now - 30th Jun 20
More Stock Market Selling Ahead - 30th Jun 20
Trending Ecommerce Sites in 2020 - 30th Jun 20
Stock Market S&P 500 Approaching the Precipice - 29th Jun 20
APPLE Tech Stock for Investing to Profit from the Machine Learning Mega trend - 29th Jun 20
Student / Gamer Custom System Build June 2020 Proving Impossible - Overclockers UK - 29th Jun 20
US Dollar with Ney and Gann Angles - 29th Jun 20
Europe's Banking Sector: When (and Why) the Rout Really Began - 29th Jun 20
Will People Accept Rampant Inflation? Hell, No! - 29th Jun 20
Gold & Silver Begin The Move To New All-Time Highs - 29th Jun 20
US Stock Market Enters Parabolic Price Move – Be Prepared - 29th Jun 20
Meet BlackRock, the New Great Vampire Squid - 28th Jun 20
Stock Market S&P 500 Approaching a Defining Moment - 28th Jun 20

Market Oracle FREE Newsletter

AI Stocks 2020-2035 15 Year Trend Forecast

The Financial Crisis As A Game Of 3 Card Monte

Politics / Market Regulation May 19, 2010 - 10:53 AM GMT

By: Danny_Schechter

Politics

Best Financial Markets Analysis ArticleYou Always Think You Are Going To Win Until You lose - We live in a three card monte world. Follow the money as it moves from one shell to another. Now guess where it is.  Most of us don’t know the hand can be quicker than the eye. That’s why mostly everyone who has ever been suckered into playing ends up losing except those who are allowed to win to keep the hustle going.  We miss the tricks of the trade even as we swear we know where the winning card or money or ball is.


Phase one: (http://www.goodtricks.net/three-card-monte.html)
Begin by showing the cards and explaining the game. Do a fair throw, mix the cards on the table slowly, and then turn over the winner. Do this a few times. Without any warning or any change in your pace or handling, do a fake throw and mix the cards slowly on the table. Point to the actual winner, and say something like "You saw it end up over here, right?" They will, of course, disagree with you. Turn it up.

On Tuesday night, Americans were watching the “super primary” in which campaigns in three states supposedly showed which was the 2010 election would go. In one a Tea Party backed candidate, Rand Paul, son of a well known Congressman prevailed, declaring “We will take our government back.”

Presumably he meant from the politicians, and from the major parties, but not from Wall Street which at the very hour of his great triumph in the latest Kentucky Derby was  burning the midnight oil,  trashing what’s left of financial reform especially the effort to regulate derivatives.

“It’s a bad sign,” bemoans the New York Times, “ that there are so many unresolved issues…virtually every effort to weaken the bill involves watering down  or undoing these reforms either explicitly or by or by adding fiendishly convoluted language that obscures the bill’s purpose.”

When was the last time you saw the word “FIENDISHLY” in the New York Times

Speaking of fiends, The Financial Times reports:  “Obviously, the idea is to kill it when no one is looking, which of course serves the industry. If you kill it now (and that is warranted, this is a poorly conceived measure), then the powers that be might have to come up with something sensible. But that might inconvenience the industry. This little finesse is perfect for them.”

Example:  Writes Tiffiney Cheng of A New Way Forward, “The derivatives bill that Senator Dodd is trying to kill is the part that Joseph Stiglitz called the best part of the ENTIRE reform package-- the last single strongest thing in the bill, the only thing that would really require a change in the way the biggest banks operate, and stops subsidies for toxic bets.”

Phase two: Immediately say something like "That's okay! You see, most people, if they see the card go over here," Pick up a loser and the winner in your right hand, and fake throw to the left as you say "here". "figure that as long as they don't bet on either of these cards," pick up the other loser under the winner you are now holding in your right hand. Apparently the winner is to the left and you are holding the two losers. As you say "either of these cards" turn over your right hand to show the lower card (the loser), fake throw to the middle, and then turn your right hand over again to show the same loser again, and drop it to the right. You have, apparently, tossed the winner to the left, and then shown the two losers to be in the middle and to the right. "The thing is" pick up the middle card, the winner, with the right hand, and then the one to the left, which they think is the winner. "when they bet on this card, they lose." Turn over the right hand to show the loser. Fake throw to the left. "It's only when you bet on this card" flip the card in your right hand face up "or this one" use the card you're holding to flip over the loser on the table to the right "that this one's ever going to be the winner." Drop the card you're holding face up, and then turn over the winner.”

And as for action against financial fraud and crime, that’s virtually non-existent even on the day that the newspaper of record ran another story on its front page about how Goldman Sachs defrauded its customers and clients.

Phase three: Pick up the winner in your right hand. Use it to point to the two losers which are face up on the table, saying something like "You don't want either of these two cards, you want this one." As you point to the losers, press the corner of the winner down against them, bending it.

William Black, the former bank regulator who has exposed control frauds,  and says they are at the center of the crisis, also says he is being ignored by most major US media outlets.  After a story about him appeared in FAZ, a mainstream German publication, he wrote: “It’s interesting that while the video of my House testimony about Lehman, the Fed, FRBNY, and the SEC went viral on the web, led to Bill Moyers scrambling to interview me, and led to this FAZ interview it has not led to any story in the major U.S. press other than Bill Moyers Journal.”

I have had a similar experience promoting my film Plunder The Crime of Our Time.

“As you say "this,” hold the winner up so that the spectators see the bend edge on. Make sure they see it! Drop the winner face down, turn down the losers, and do the bend corner switch described above. After doing this, you have a loser to your left with a bent corner, which they think is the winner, the winner in the middle, and another loser to the right. Now, pick up the loser on the right with your right hand, and the one with the bent corner on the left with your left hand. Hold your right hand still as you sweep your left hand over and drop the card with the bent corner to the right. As you make this sweep, glance up at your audience and you should see everyone's head move as they follow the card they think is the money card.”

Germany is outlawing naked short selling. China is warning of a global crisis that is “more serious that we thought.” A Federal Reserve official says our economy will suffer for years.

“A top Federal Reserve official, Federal Reserve Bank of Cleveland President and CEO Sandra Pianalto, warned Tuesday that one consequence of the Great Recession will be a "new normal" in which Americans have lower expectations...”

May 19 (Bloomberg) -- The U.S. may fall victim to bond “vigilantes” targeting indebted nations from the U.K. to Japan in a potential second stage of the financial crisis, New York University professor Nouriel Roubini said….”

“History would suggest that maybe this crisis is not really over. We just finished the first stage and there’s a risk of ending up in the second stage of this financial crisis.”

“Address this audience member and ask them which card appears to be the winner. When they point to the one with the bent corner, say "That's absolutely correct, and that's the one most people would bet on." Turn it over”.

Guess what? We all Lose!

News Dissector Danny Schechter made the film/dvd Plunder The Crime of Our Time and wrote the companion book, The Crime Of Our Time, on the crisis as a crime story. (Http://www.plunderhecrimeofourtime.com) Feedback to dissector@mediachannel.org

    © 2010 Copyright Danny Schechter - All Rights Reserved
    Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules