Robo Trading v Human Trading


QUESTION: So is there any difference between a Robot and a person trading if they just follow the same system on a single market?

ANSWER: Any system that is created which claims to be some robo-trading system is vulnerable to a contagion that impacts a given market from external sources. We are entering a highly correlated global capital flow era which events external to a domestic market can overwhelm a domestic economy and any market.

The only difference between a robo-trading system and a human is that the human can get all emotion and panic. The computer would not do that, but it would be vulnerable to external forces and would not be able to make a judgment call.

The only possible way to overcome this is a complete global model which is monitoring everything and will pick up the external contagions. You can visually see this using the Global Market Watch. You can glance at the trends in all world stock markets for example on one page.

The End of Diversification?


Recent years there has been a shift in how various assets classes are trading. There is emerging a high degree of positive correlation among various financial asset classes that have many concerned since it is not conforming with the perceived historic norms. Many are reading into this as a warning of what is to come. When different asset classes move in the same direction simultaneously, this obviously eliminates the theory of diversification is asset allocation.

Asset allocation over the years has been the way portfolios are arranged because they lack the ability to forecast the major trends. The belief has been that the possible benefits of diversification across classes reduces risk and offers a management tool knowing that you will lose on one side but win on another class.

When there is a high correlation between classes, these asset allocation models fail. The concerns become that this injects a negative development because they fear if one asset class falls, it will take all of the others with it.

What is being overlooked here is the fact that there is a major shift underway which is not understood and this creates the risk of a LIQUIDITY CONTAGION whereby a loss in one asset class causes liquidation in all others to raise cash to cover the losses in one particular asset class. Welcome to the new age of international contagion which is far more serious and cannot be reduced by simply diversification.

We will be looking at establishing a Webinar for Institutional Clients on this subject matte

Trump’s China Tweet


$2 Trillion of ‘Goodwill’: Did Pelosi and Schumer Just Play Trump?


Published on May 2, 2019

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President Trump meets privately with House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer, who emerge announcing “goodwill” and a common commitment to spend $2 trillion on infrastructure spending. Did Trump get played? Will Democrat insistence on environmental regulations drag out projects and jack up their price? If you enjoy reason, thought, civil dialogue and just plain fun, you’ll find your people at our new, Member-exclusive, website. You’ll join the team that produces and enjoys some 44 new shows each month, a rich video archive, and a dynamic Member-written blog. Find your people today at https://BillWhittle.com/register/

“Democracy Dollars” to Make Everyone a Campaign Donor, Cut Power of Wealthy


Published on May 2, 2019

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New York Sen. Kirsten Gillibrand wants to reduce the influence of wealthy white men, and make every voter a campaign donor by giving us all vouchers — drawn on the federal treasury — so we can contribute to candidates of our choosing. Candidates would agree to refuse contributions above $200 in order to receive these “Democracy dollars.” What’s the harm in that? Bill Whittle explains. Lively discussion grounded in conservative principles comes not just in our 44 video new videos each month, and our deep archive, but in our exclusive Member-written blog, threaded discussions, and private message power. Come home to your people now at https://BillWhittle.com/register/

Groper Cleveland: Can Biden’s Faded Blue Collar Style Win in Fresh Socialist DNC?


Published on May 3, 2019

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Former Vice President Joe Biden jumps into the 2020 presidential race as the presumptive frontrunner, but is he? Will his historically-moderate views, old-school approach, and the physical advances of age hold up against the avowed socialism, modern media savvy and juvenile vigor of others in the field? Right Angle — with Stephen Green, Bill Whittle and Scott Ott — comes 20 times each month thanks to the Members who not only produce this, and 24 other shows, but an excellent blog on politics, news, science, space, music, humor and culture. If you enjoy this video, find your people at https://BillWhittle.com/register/

Why the Confederacy Lost: The Experiences of Robert E. Lee’s Army of Northern Virginia


Published on Mar 22, 2011

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Watch video of the talk, “Why the Confederacy Lost: The Experiences of Robert E. Lee’s Army of Northern Virginia.” Joseph Glatthaar, the Stephenson Distinguished Professor of history at the University of North Carolina at Chapel Hill, spoke at Vanderbilt University Feb. 8, 2011, as part of a College of Arts and Science-sponsored series of lectures about the Civil War. Glatthaar teaches about the Civil War and is the author of “General Lee’s Army: From Victory to Defeat.

Discovery Wings: Combat Aircraft of the Future


Published on Aug 19, 2012

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Discovery Wings: Combat Aircraft of the Future

FBI Scheduled to Make Court Filing on Release of Comey Journal Tomorrow…


It is worth remembering a recent court filing by the FBI where we discover James Comey documented each “Crossfire Hurricane” intelligence decision. Within the CYA memos  Comey included the ID of code-named spies in a journal of sorts, that remains hidden for now.  I have a hunch the full Comey journal will soon be released.

A court filing originally scheduled for April 15th, to determine the outcome of the multiple memos, and FBI closed-court discussion therein, was delayed until May 7th, tomorrow:

The number of Comey memos is why I now describe them collectively as the Comey “journal”.  {Go Deep} The reason I suspect the “journal” will soon be released is connected to the recent New York Times release admitting to the use of FBI intelligence assets(Stefan Halper and Azra Turk)) in the Trump operation.

Last week’s NYT “spy” admission followed a report a month earlier (everyone forgot) that DOJ Inspector General was investigating the FBI use of Stefan Halper.

CTH notes a conspicuous similarity where all FBI leaks are positioned to present justifications ahead of document/investigative releases adverse to the group’s interests.  These leaks appear to be planned releases from corrupt officials still employed within the FBI, and political allies outside government (Lawfare and MSM).

All of the leaks are justifications.  The Comey’s memos, as described by Weissmann and Mueller’s lead FBI Agent, David Archey, are also based around “justification”.

FBI Director James Comey transparently wrote those justification memos in his journal in 2016 and 2017 exactly for a moment when/if questions were raised about what the FBI investigators were doing.

Considering there were already FBI investigators taking notes and documenting the operation, there is no other intellectually honest motive for James Comey writing an independent journal other than justifying the specific activity. 

It would make sense for the currently employed corrupt FBI officials to head-off any inquiry, and lead their defense, with documents/leaks that justify their activity.

Additionally, Weissmann and Mueller positioned the corrupt FBI operation to remain completely in-the-loop on any damaging investigative material when they had a dedicated staff of FBI agents writing reports back to FBI Headquarters:

(Page 13 Weissmann-Mueller report)

When you read that underlined passage you realize how smart Weissmann, Mueller and the small group were.  The corrupt investigative unit set up a process where they could leak to the media at will, and yet if anyone ever made inquiry there are so many people piped-in to the investigation it would be impossible to find the leaker.

Simultaneously, for the ongoing cover-up needs of FBI Director Christopher Wray, Deputy Director David Bowditch and FBI General Counsel Dana Boente they had a daily briefing to use in burying issues adverse to their institutional interests.

If you wondered why the FBI was busy sending lawyers in with each person questioned by congress, well, page #13 of the Weissmann/Mueller report explains exactly what purposes those lawyers likely maintained.   The entire leadership structure of the FBI appears clearly compromised.  Hence the David Archey declarations align therein.

What better ongoing way for Director Wray to protect his institutional interests than to coordinate with General Counsel Dana Boente a series of document releases that will justify the corrupt endeavors of the preceding team of officials.  I digress….

Lastly, don’t be surprised to see the arc of this story bends slightly, and with increased scrutiny will will discover the White House National Security Counsel (NSC) was a participant in the political weaponization of intelligence through a memorandum of understanding with the FBI.

It would make sense if the Obama NSC had access to the FBI surveillance database, and simultaneously extracted raw intelligence search results….. keep watching.

TheLastRefuge@TheLastRefuge2

Something to consider given the current state of adversarial hostilities toward AG Barr in DC.

🤔What if tomorrow the DOJ/FBI suddenly doesn’t object to releasing *ALL* of Comey’s memos (the full spygate journal)?

Backstory: https://theconservativetreehouse.com/2019/05/04/james-comey-justifies-fbi-spy-operations-more-reason-to-release-his-volumes-of-spygate-memos/ 

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USTR Lighthizer: “We have seen an erosion of commitments by China” … “in our view unacceptable”…


To say there are conflicting reports of the U.S-China trade discussion, and possible breakdown therein, would be an understatement.  However, mining through the various U.S. and China news agencies, a more clear picture emerges.

U.S. Trade Representative Robert Lighizer is quoted today: “We felt we were on track to get somewhere. Over the course of last week we have seen an erosion of commitments by China. That in our view is unacceptable.”  This statement appears to be in line with reports from Beijing about Chinese negotiators: “with sources suggesting that President Xi Jinping vetoed additional concessions proposed by his negotiators.”

(Bloomberg) […] Lighthizer and Treasury Secretary Steven Mnuchin told reporters on Monday that the Chinese backsliding became apparent during their visit to Beijing last week, but that they had been reassured by their Chinese interlocutors that everything would turn out.

That changed over the weekend when China sent through a new draft of an agreement that included them pulling back on language in the text on a number of issues, which had the “potential to change the deal very dramatically,” Mnuchin said.

At that stage about 90 percent of the pact had been finalized, he said, and the Chinese wanted to reopen areas that had already been negotiated.  “We are not willing to go back on documents that have been negotiated in the past,” he said.  (read more)

The South China Morning Post concurs with Mnuchin and Lighthizer’s explanations when they share:

“Xi told them ‘I’ll be responsible for all possible consequences’,” the second source said. Chinese negotiators subsequently presented a tougher proposal to Washington, although it is not clear if they pitched an amended proposal to Xi after the latest round of talks in Beijing last week. (link)

So we see the framework of the duplicitous and conniving Chinese being duplicitous and conniving. Go figure.

Again, this status-conflict is in complete alignment with the historic Chinese world-view.  It is not so much an issue with differences of opinions; the U.S. -vs- China trade conflict is actually a fundamental issue of cultural clashes.

March 2018 – […] China has no cultural or political space between peace and war; they are a historic nation based on two points of polarity.  They see peace and war as coexisting with each other.

China accepts and believes opposite or contrary forces may actually be complementary, interconnected, and interdependent in the natural world, and they may give rise to each other as they interrelate to one another.  Flowing between these polar states is a natural dynamic to be used -with serious contemplation- in advancing objectives as needed.

Peace or war. Win or lose. Yin and Yang. Culturally there is no middle position in dealings with China; they are not constitutionally capable of understanding or valuing the western philosophy of mutual benefit where concession of terms gains a larger outcome.  If it does not benefit China, it is not done. The outlook is simply, a polarity of peace or war.  In politics or economics the same perspective is true.  It is a zero-sum outlook.

Historic Chinese geopolitical policy, vis-a-vis their totalitarian control over political sentiment (action) and diplomacy through silence, is evident in the strategic use of the space between carefully chosen words, not just the words themselves.

Each time China takes aggressive action (red dragon) China projects a panda face through silence and non-response to opinion of that action;…. and the action continues. The red dragon has a tendency to say one necessary thing publicly, while manipulating another necessary thing privately.  The Art of War.

President Trump is the first U.S. President to understand how the red dragon hides behind the panda mask.

It is specifically because he understands that Panda is a mask that President Trump messages warmth toward the Chinese people, and pours vociferous praise upon Xi Jinping, while simultaneously confronting the geopolitical doctrine of the Xi regime.

In essence Trump is mirroring the behavior of China while confronting their economic duplicity. (more)

The Chinese delegation is still coming to DC on Wednesday/Thursday but it is doubtful anything will stop the increased tariffs from taking place Friday morning.