Loading ...“No-one has a clue, apart from the unfortunate individual that pressed the wrong button,” David Govett, head of precious metals trading at Marex Spectron Group in London, said of the spike in volume. Thin activity and automated trading may exacerbate such moves, he said.
Rising use of computer-driven algorithmic trading has often been blamed for extraordinary movements in financial markets, known as flash crashes, in recent years.
Comment:
What’s going to happen next in this “new fangled” unstable man made artificial global economy? I saw a huge apartment building in UK up in flames because the OUTSIDE cladding was combustible?? I wonder how much money they “saved”. Now I hear they evacuated other similar buildings.
Even all the US Trade Center buildings were “new fangled” construction. Each one a big hollow shell of a building. Not built to 1910 codes. They wanted to save money and use less steel than normal. It worked, but there’s always a compromise when you “save money”. The entire buildings were only as strong as the “floor boards”.
“Every time you try to save you lose” Coined by me in 1966. 🙂
Over time TPTB with their media have succeeded to create a “cheep skate economy”, and numerous people with “issues”. Neurotics all over to say the least.