2 votes

Somebody Stole 7 Milliseconds From the Federal Reserve

"Three to seven milliseconds before the fed moved interest rates, billions of dollars of trades were input that took advantage of the changed rates, reaping huge profits. According to a report at Mother Jones, 'Last Wednesday, the Fed announced that it would not be tapering its bond buying program. This news was released at precisely 2 pm in Washington 'as measured by the national atomic clock.' It takes 7 milliseconds for this information to get to Chicago. However, several huge orders that were based on the Fed's decision were placed on Chicago exchanges 2-3 milliseconds after 2 pm."

http://news.slashdot.org/story/13/09/25/1955220/somebody-sto...




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"The United States can pay any debt it has because we can always print money to do that." — Alan Greenspan