[Article] Market Manipulation: The Big Boys Want To Play


Interesting read…

"Banks and deep-pocketed individuals have a history of abusing their power to reap significant financial returns. The financial collapse in 2007/08 is testament to that. The banks got greedy and started selling more mortgages to people who couldn’t afford it, whilst stringing the rating (puppet) agencies to prop up the bond ratings so the average joes wouldn’t know that the economy was on the verge of collapse. This allowed banks to run away from the crisis whilst the US citizens were faced with the burden of unemployment and significant loss of net worth. But why is this important? Where there is a lack of regulation in an industry (the mortgage market -pre 2008) the big players will abuse their power and make as much money as possible from it. Whilst the nature of the cryptocurrency market is considerably dissimilar to the housing market pre 2008, the lack of regulation is the common ground between these two entities.

I’m not implying that banks are manipulating the cryptocurrency market, rather, I am depicting how greed can lead to the manipulation of an unregulated market and I believe that is what we are witnessing currently…"