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Study Finds US Is an Oligarchy, Not a Democracy

tacokill Re:And the people respond with.... DUH.... (704 comments)

Just like how the founding fathers did not do all that Independence stuff out of the goodness of their heart, all of there were filthy wealthy and were trying like hell to protect their wealth.

Wow, I am not sure I have ever seen a more cynically written explanation of the beginnings of our country. I'm not nationalistic zealot but I've read history. Ever heard of taxation without representation and King George VIII? I'd say the founding fathers were well justified by trying to keep their wealth instead of losing it to the state due to taxation. Or are you one of those types that believe all wealth belongs to the govt first who then doles out the riches?

Ask yourself this: how bad does it have to get in the 1700's for you to get on a ship and go to a newly found land to escape the clutches of a despot?

yesterday
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Adaptation From Flash Boys Offers Inside Look at High-Frequency Trading

tacokill Re:Lets call it what it is..... (246 comments)

There is not one order book, there are fourteen order books (one per exchange)
Correct but those 14 exchanges are more than happy to sell "information" about the order book to any firm who will pay. Why are firms even allowed to buy information like that? Without access to that kind of information (ie the order flow), HFT doesn't exist.

I'll concede that this is arbitrage but it is 100% crooked arbitrage. By any measure, it is unrecognizable from front running.

Again the difference is that the HFT firms have access to information that gives them the ability to front run. Brokers have this same conflict of interest but they have decades of experience managing the conflict. Most of the time they get it right but there are definitely cases where a broker has front-run his clients. Unfortunately, HFT firms don't have to answer to customers like brokerage houses do. They can happily go along middling and fronting everyone they can without any adverse consequences.

about two weeks ago
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Adaptation From Flash Boys Offers Inside Look at High-Frequency Trading

tacokill Re:Lets call it what it is..... (246 comments)

What you describe is not arbitrage. Arbitrage would be buying stock on one exchange and selling it on another without knowing jack about the order book. By knowing about the order book (which the exchanges are oh-so-happy to sell for a fee) the HFT firms can easily middle us.

Think of it this way......why does the price of a stock change when an HFT is involved? The price changes because the HFT knows I am going to buy the stock and goes out to buy it before me only to turn around and instantly sell it to me at a slightly higher price. The problem is that I am the news that moved the price. Without my order, the HFT doesn't front me and the price doesn't move at all.

That is why this is front running and that is why it is a problem. If it were arbitrage between exchanges like you describe, nobody would have a problem with it as it provides an efficient mechanism for equilibrium. But that's not the case.

about two weeks ago
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Adaptation From Flash Boys Offers Inside Look at High-Frequency Trading

tacokill Re:Lets call it what it is..... (246 comments)

I may not be using the correct vocabulary. I am not in the industry. Whatever they are seeing, they are seeing information about the orders before the orders are executed.

Obviously what they are doing is not illegal as they are still doing it. They are very good at gaming the system.

about two weeks ago
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Adaptation From Flash Boys Offers Inside Look at High-Frequency Trading

tacokill Re:Front Running is not HFT (246 comments)

If the problem is that someone saw your order and acted on it before it went to execution...
I am not sure where you get your information but the above is exactly what front running is. It's taking knowledge of the book of orders and using it as an advantage to middle your way between a buy/sell. Charlie wants to buy from Alice at $1.00. Bob overhears Charlie's intentions, rushes to buy the stock from Alice at $1.00 and then promptly tries to resell it to Charlie for $1.01. That's front running.

However, you are right that front running have been around forever. The difference is that we used to manage that conflict of interest and now....not only is it not being discouraged, it's being actively promoted.

about two weeks ago
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Adaptation From Flash Boys Offers Inside Look at High-Frequency Trading

tacokill Lets call it what it is..... (246 comments)

The word we are looking for is: front-running.

When HFT firms get a look at the order book prior to the orders being executed and then go out and buy the order book only to turn around and sell it to the original buyer for a penny more......that's front-running. The technology and algorithms are incidental. It's been going on as long as there have been brokers and people buying/selling stock on behalf of other people. The difference this time is that this shit is being encouraged instead of discouraged. It hides behind opaque language and scary computers to dazzle and wow you into not noticing.

about two weeks ago
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Cryptocurrency Exchange Vircurex To Freeze Customer Accounts

tacokill Re: hmm, people out to make a quick buck (357 comments)

The strength and credibility of the dollar is unquestioned
A slow, predictable decline does count as the best game in town

Strength and credibility through slow and predictable decline.....that's rich!

about three weeks ago
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Turkish Finance Minister Defends Twitter Ban

tacokill Re:Opposite Result (94 comments)

Right. Kinda like giving people democracy and then being upset with how the results turned out. Hello, Hamas!

about three weeks ago
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Drone-Assisted Hunting To Be Illegal In Alaska

tacokill Hunting (397 comments)

Hunting has been around for longer than any government has existed. It will be with us long after the last one crumbles. What are we debating again?

about three weeks ago
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Silicon Valley Billionaire Takes Out $201 Million Life Insurance Policy

tacokill You sound dishonest (300 comments)

Only the dishonest call it the estate tax. Just like every other attempt the government uses to obfuscate, the name "estate tax" does not imply it's effect. Instead, it makes it sound benign.....which it is most definitely not. It's really rather simple: since all of the money and assets in one's estate has been taxed during one's lifetime, it is immoral to tax it again upon their death.

That is why it should be called the Death Tax. It is triggered upon one's death and for no other criteria. The death tax is unlike every other kind of tax we have which normally tax transactions (income, capital gain realization, use tax, etc). Literally, the only way it comes into play is if you die -- which everyone does.

about a month ago
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White House: Get ACA Insurance Coverage, Launch Start-Ups

tacokill Re:Or Preexisting conditions. (578 comments)

What could possibly go wrong?
As opposed to what is wrong with the system we have now?

Good try at diversion. Who cares what we used to have. We all know it was broken. Go ahead and pretend the government has your best interests in mind while it determines what healthcare you receive. I am sure nothing will go wrong with that arrangement and conflict of interest.

You are right they are banning soft drinks. However that was at the city government level (NYC). Riddle me this: what do you think would have happened if that was at the Federal Government level? Are you seriously arguing that the government is going to take a hands off approach and let you live your life the way you want to? Not when they are paying the tab. As long as they pay the tab, they have a vested interest in making you act more healthy and I assure you they will abuse that power just as they have abused every other power we've ever given them.

about a month ago
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White House: Get ACA Insurance Coverage, Launch Start-Ups

tacokill Re:Or Preexisting conditions. (578 comments)

Not yet so rest easy young comrade. Your time will come too....

about a month ago
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Stanford Researchers Spot Medical Conditions, Guns, and More In Phone Metadata

tacokill wrong, but close.... (193 comments)

Ok, so the OP should have stated Class 3 firearms instead of "assault weapons". Had he said that I would not have replied. Vocabulary matters. Class 3 is not the same thing as an "assault weapon/rifle".

Instead, he said we had to have an FFL and pay annual fee to own an assault rifle. That simply isn't true.....unless the assault rifle is a Class 3 weapon. However, most assault rifles are not Class 3 weapons so OPs statement is demonstrably false.

about a month ago
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White House: Get ACA Insurance Coverage, Launch Start-Ups

tacokill Re:Or Preexisting conditions. (578 comments)

Single payer would suck. I hope we never get there. Sadly, there are people who don't understand why it's a "bad idea" to depend on the government for your healthcare.

If you "give" healthcare to the government to mange, the government absolutely will abuse it's power. Since medical care is so critical, the government will use that to force you to behave a certain way. Today we ban softdrinks. Tomorrow, you get fined for being fat (or doing whatever unhealthy habit "they" don't want you to do).

What could possibly go wrong? Am I the only person in the world who sees this naked power grab? Jesus.....once they get control of your medicine, "they" can make you do whatever "they" want. Seems rather obvious to anyone who thinks about it for more than 5 seconds.

about a month ago
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White House: Get ACA Insurance Coverage, Launch Start-Ups

tacokill Re:Why? (578 comments)

What the fuck difference does it make what kind of fraud it is? Fraud is fraud. Either way the taxpayers get screwed.

And it's not just dirty "private corporations" ripping off Medicare. It's all kinds of people and entities but good try at making it about "evil corporations".

about a month ago
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White House: Get ACA Insurance Coverage, Launch Start-Ups

tacokill Re:We're with the government (578 comments)

Ohhh, can't wait. If this last round is any indication, we'll be in for an even bigger letdown for single payer.

Seriously, the apologists are unbelievable. "We'll get it right next time. Promise!". How about you guys get one right before we trust you with more stuff?

about a month ago
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Stanford Researchers Spot Medical Conditions, Guns, and More In Phone Metadata

tacokill you have no idea what you are talking about.... (193 comments)

No, "assault rifles" are not perfectly legal, unless you have an FFL and pay the annual fee. .
Bzzzzzt. Wrong. They are perfectly legal and you have no idea what you are talking about. I have many and I don't pay a fee or have an FFL.

The only rifles that are restricted to own are automatic rifles. ie: machine guns. But those have been restricted for a long time. Outside of that, there are no other restrictions to buy, own, posses, shoot, or sell an "assault" rifle/weapon (no difference). That law expired and good riddance.

The reason is was a stupid law is simple: the only thing that makes a rifle an "assault" rifle instead of a regular rifle is aesthetic characteristics like a bayonet holder, hand carrier, short barrel, etc. Basically: all the shit that doesn't matter for a gun. Outside of that criteria, they all work the same. The have long barrels. They fire bullets of many calibers. They are semi-automatic. They have scopes. Etc, etc, etc.

about a month ago
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Stanford Researchers Spot Medical Conditions, Guns, and More In Phone Metadata

tacokill What the hell does that even mean? (193 comments)

What the hell does "outed an assault rifle owner" mean? Last I checked, assault rifles are perfectly legal so what would be the point of outing an owner?

Oh that's right....I forgot: sensationalism.

about a month ago
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Bitcoin Inventor Satoshi Nakamoto Outed By Newsweek

tacokill Re:Why? (390 comments)

Ding ding ding. We have a winner.

Unfortunately, the balance of power is completely in the hands of the reporter. You don't know anything about the reporter's ethics until it's too late.

Which brings to mind one of my favorite cliches: Don't ever get into an argument with a man who buys ink by the barrel.

about a month ago

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