TIDBIT: ANOTHER GLITCH EX MACHINA

February 24, 2020 / Joseph P. Farrell /

Apropos of today's main blog, V.T. spotted this short article at Zero Hedge about yet another glitch ex machina at Fidelity brokerage:

"Glitch" Or Hack: Countless Fidelity Accounts Showing Zero Balance

And note the following comment:

While we assume this pesky "glitch" will be resolved promptly, we should point out that if the market were to ever again suffer a down day and should investors wish to sell some/all of their holdings, this would be a convenient way to quickly and efficiently prevent that from ever happening.

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Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and "strange stuff". His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into "alternative history and science".

8 Comments

  1. OrigensChild on February 25, 2020 at 5:20 pm

    You know, this is one of those stories where the “glitch” could represent a whole host of “back-end” possibilities–with nary a way to decypher which of them may be in play. It’s the most convenient non-answer on the planet these days with respect to computer software. If we didn’t get any disclosure requirements for the missing money related to the bail-outs in 2008, I doubt we’ll get a legal apparatus requiring disclosure explaining the nature of “glitches” in the financial community either. Every corporation’s glitch is another team’s opportunity to do either good (as in recover data that was corrupted by some means) or evil (as in steal billions of dollars by rerouting bank accounts to an offshore account.)



    • OrigensChild on February 25, 2020 at 5:33 pm

      I personally suspect this one is an internal issue. Whatever problems are recurring here, I would expect some sort of structured response may be required to calm a very nervous client list. This company may find itself in serious damage control if this is not attended to properly. I wish them well.



  2. Richard on February 25, 2020 at 1:28 am

    Wonder which door it might be behind: Door of compromised networks; Door of coerced management; Door of unsecured login ins and data breach exploits.

    No doubt there are those who do not want to elaborate just yet due to returns / stock prices.



  3. WalkingDead on February 24, 2020 at 6:43 pm

    Wonder how much Fidelity made off that money while it was in limbo….



  4. Billy Bob on February 24, 2020 at 1:30 pm

    Whew. They used to be my brokerage firm years ago. Left them years ago.



  5. Robert Barricklow on February 24, 2020 at 12:05 pm

    Don’t worry, if they stole the money they’ll soon be working in Washington D.C. w/the other thieves that steal life savings from the public they serve? Or, is the public that serves them?



  6. Katmandew on February 24, 2020 at 10:45 am

    …and Bingo, glitch happened again today.
    https://www.zerohedge.com/markets/fidelity-breaks-2nd-time-week-countless-accounts-showing-zero-balance



  7. DanaThomas on February 24, 2020 at 5:33 am

    Glitches are a subterfuge you can use only a few times before people catch on.



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