# High Frequency Trading on The No Agenda Show High Frequency Trading comes up in 18 chapters across 15 episodes of The No Agenda Show, from July 2009 to August 2026. - **Chapters:** 18 - **Episodes:** 15 - **Discussed:** July 2009 – August 2026 - **Related topics:** [High-frequency Trading](https://search.noagendashow.net/topic/high-frequency-trading.md), [Goldman Sachs](https://search.noagendashow.net/topic/goldman-sachs.md), [Market Manipulation](https://search.noagendashow.net/topic/market-manipulation.md), [Algorithms](https://search.noagendashow.net/topic/algorithms.md), [Api](https://search.noagendashow.net/topic/api.md), [Austin](https://search.noagendashow.net/topic/austin.md), [Donald Trump](https://search.noagendashow.net/topic/donald-trump.md), [Flash Crash](https://search.noagendashow.net/topic/flash-crash.md), [Flash Trading](https://search.noagendashow.net/topic/flash-trading.md), [Sec](https://search.noagendashow.net/topic/sec.md) ## Chapters 1–18 of 18 ### Senator Chris Murphy, Truth Social API and Insider Trading Claims - **Episode:** [1891: We Need Memes!](https://search.noagendashow.net/episode/1891-we-need-memes.md) - **Published:** 2026-08-02 - **Time:** 21:05–31:46 - **Transcript:** https://search.noagendashow.net/episode/1891-we-need-memes/chapter/senator-chris-murphy-truth-social-api-and-insider-trading-claims.md Senator Chris Murphy criticized a new Truth Social subscription service that provides early API access to Donald Trump's posts for $100,000 per month. Murphy characterized the service as a "criminal syndicate" allowing Wall Street firms to engage in legal insider trading by gaining information milliseconds before the public. The hosts argue that similar APIs exist on platforms like X and that the service is a standard capitalist data product rather than a bribe. Keywords: [chris murphy](https://search.noagendashow.net/topic/chris-murphy.md), [donald trump](https://search.noagendashow.net/topic/donald-trump.md), [truth social](https://search.noagendashow.net/topic/truth-social.md), [api](https://search.noagendashow.net/topic/api.md), [insider trading](https://search.noagendashow.net/topic/insider-trading.md), [high frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md), [wall street](https://search.noagendashow.net/topic/wall-street.md) ### David Pakman, Trump Media and High Frequency Trading - **Episode:** [1891: We Need Memes!](https://search.noagendashow.net/episode/1891-we-need-memes.md) - **Published:** 2026-08-02 - **Time:** 31:47–39:45 - **Transcript:** https://search.noagendashow.net/episode/1891-we-need-memes/chapter/david-pakman-trump-media-and-high-frequency-trading.md Progressive commentator David Pakman detailed the financial implications of the Truth Social API, noting that Trump Media offers a discounted rate of $60,000 per month for three-year commitments. The discussion focuses on how high-frequency trading algorithms utilize millisecond advantages to execute trades based on market-moving announcements. The hosts speculate on the risks of AI misinterpreting typos in Trump's posts, which could lead to rapid financial losses. Keywords: [david pakman](https://search.noagendashow.net/topic/david-pakman.md), [trump media](https://search.noagendashow.net/topic/trump-media.md), [truth social](https://search.noagendashow.net/topic/truth-social.md), [api](https://search.noagendashow.net/topic/api.md), [high frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md), [algorithms](https://search.noagendashow.net/topic/algorithms.md), [market volatility](https://search.noagendashow.net/topic/market-volatility.md) ### Donald Trump, Stock Trading and High-Frequency Algos - **Episode:** [1870: VBS](https://search.noagendashow.net/episode/1870-vbs.md) - **Published:** 2026-05-21 - **Time:** 1:24:49–1:30:30 - **Transcript:** https://search.noagendashow.net/episode/1870-vbs/chapter/donald-trump-stock-trading-and-high-frequency-algos.md MSNBC and Rachel Maddow reported on over 3,700 stock trades made by Donald Trump's trust, alleging conflicts of interest with companies like Dell, Apple, and Palantir. The analysis suggests these are not manual insider trades but rather the result of a high-frequency trading (HFT) algorithm managed by a family office. The "blind trust" is clarified to be a revocable trust managed by Trump's sons, allowing for active trading while the President publicly praises the companies involved. Keywords: [donald trump](https://search.noagendashow.net/topic/donald-trump.md), [rachel maddow](https://search.noagendashow.net/topic/rachel-maddow.md), [dell](https://search.noagendashow.net/topic/dell.md), [apple](https://search.noagendashow.net/topic/apple.md), [high-frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md), revocable trust ### Michael Lewis's "Flash Boys" and High-Frequency Trading - **Episode:** [605: "Biostitutes"](https://search.noagendashow.net/episode/605-quot-biostitutes-quot.md) - **Published:** 2014-04-03 - **Time:** 1:42:17–1:45:39 - **Transcript:** https://search.noagendashow.net/episode/605-quot-biostitutes-quot/chapter/michael-lewis-s-flash-boys-and-high-frequency-trading.md Dvorak discusses Michael Lewis's new book, "Flash Boys," with a banker friend in Austin. The banker claims the book's focus on fiber-optic speed is "bullshit" and that the real money in high-frequency trading is made by identifying small-cap stocks that will naturally follow the movement of large-cap leaders like Unilever. He also predicts American banks will double in size despite "too big to fail" concerns. Keywords: michael lewis, flash boys, [high-frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md), basel iii, [wall street](https://search.noagendashow.net/topic/wall-street.md), [austin](https://search.noagendashow.net/topic/austin.md) ### South by Southwest 2012, Austin Weather, and Johnny Feelgood - **Episode:** [390: Threshold Event](https://search.noagendashow.net/episode/390-threshold-event.md) - **Published:** 2012-03-11 - **Time:** 8:56 - **Transcript:** https://search.noagendashow.net/episode/390-threshold-event/chapter/south-by-southwest-2012-austin-weather-and-johnny-feelgood.md Adam Curry and John C. Dvorak open the show from Austin, Texas, discussing the rainy weather coinciding with the start of South by Southwest (SXSW). They critique the commercialization of the festival, including high parking fees and corporate parties hosted by companies like Second Market. Curry recounts heckling a CEO about high-frequency trading and meeting a local artist named Johnny Feelgood. Keywords: [south by southwest](https://search.noagendashow.net/topic/south-by-southwest.md), [austin](https://search.noagendashow.net/topic/austin.md), [texas](https://search.noagendashow.net/topic/texas.md), [molly wood](https://search.noagendashow.net/topic/molly-wood.md), second market, [high-frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md), johnny feelgood ### High Frequency Trading, Eurozone Printing Money - **Episode:** [363: Mothership Uncloaking?](https://search.noagendashow.net/episode/363-mothership-uncloaking.md) - **Published:** 2011-12-08 - **Time:** 1:20:59–1:24:57 - **Transcript:** https://search.noagendashow.net/episode/363-mothership-uncloaking/chapter/high-frequency-trading-eurozone-printing-money.md The founder of High Frequency Economics argues that the European Central Bank (ECB) must print money to solve the Eurozone crisis. However, the Lisbon Treaty explicitly forbids the ECB from inflating the currency to bail out member states. This creates a philosophical and legal deadlock between Germany's fear of hyperinflation and France's desire for a bailout. Keywords: [high frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md), [ecb](https://search.noagendashow.net/topic/ecb.md), [lisbon treaty](https://search.noagendashow.net/topic/lisbon-treaty.md), [inflation](https://search.noagendashow.net/topic/inflation.md), [ireland](https://search.noagendashow.net/topic/ireland.md) ### High-Frequency Trading, Flash Crash Regulation - **Episode:** [346: The Indignati](https://search.noagendashow.net/episode/346-the-indignati.md) - **Published:** 2011-10-09 - **Time:** 25:49–27:33 - **Transcript:** https://search.noagendashow.net/episode/346-the-indignati/chapter/high-frequency-trading-flash-crash-regulation.md The New York Times reports on potential crackdowns on rapid computerized stock trading following the "flash crash." The hosts suggest that these high-frequency trading mechanisms, used by firms like Goldman Sachs, are currently propping up the market. They predict a market collapse if these systems are restricted. Keywords: [new york times](https://search.noagendashow.net/topic/new-york-times.md), [goldman sachs](https://search.noagendashow.net/topic/goldman-sachs.md), [flash crash](https://search.noagendashow.net/topic/flash-crash.md), [high-frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md), [stock market](https://search.noagendashow.net/topic/stock-market.md) ### Farid Zakaria, Global Financial Reform, and the Fat Tax - **Episode:** [305: Last Show Ever](https://search.noagendashow.net/episode/305-last-show-ever.md) - **Published:** 2011-05-19 - **Time:** 11:11–15:31 - **Transcript:** https://search.noagendashow.net/episode/305-last-show-ever/chapter/farid-zakaria-global-financial-reform-and-the-fat-tax.md Farid Zakaria's CNN program GPS is scrutinized for its ties to the Bilderberg Group and its promotion of global financial reform. The hosts discuss Dominique Strauss-Kahn's proposal for a Financial Activities Tax (FAT tax), which would target high-frequency trading. They suggest this tax is an attack on Goldman Sachs by international banking interests. Keywords: farid zakaria, [bilderberg](https://search.noagendashow.net/topic/bilderberg.md), fat tax, [goldman sachs](https://search.noagendashow.net/topic/goldman-sachs.md), [high frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md), [imf](https://search.noagendashow.net/topic/imf.md) ### High-Frequency Trading and Market Manipulation - **Episode:** [225: Checkpoint Nation](https://search.noagendashow.net/episode/225-checkpoint-nation.md) - **Published:** 2010-08-12 - **Time:** 1:18:50–1:21:58 - **Transcript:** https://search.noagendashow.net/episode/225-checkpoint-nation/chapter/high-frequency-trading-and-market-manipulation.md The discussion turns to "crop circles" in market data caused by high-frequency trading algorithms. These programs execute thousands of bids per second to manipulate stock prices. The hosts question the legality of these practices under SEC rules and advise listeners to stay out of the traditional stock market. Keywords: [flash trading](https://search.noagendashow.net/topic/flash-trading.md), [high-frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md), [sec](https://search.noagendashow.net/topic/sec.md), [algorithms](https://search.noagendashow.net/topic/algorithms.md), [market manipulation](https://search.noagendashow.net/topic/market-manipulation.md) ### Flash Crash, Erlang Programming Language Theory - **Episode:** [199: Elephant In The Room](https://search.noagendashow.net/episode/199-elephant-in-the-room.md) - **Published:** 2010-05-13 - **Time:** 42:47–45:07 - **Transcript:** https://search.noagendashow.net/episode/199-elephant-in-the-room/chapter/flash-crash-erlang-programming-language-theory.md New information suggests the May 2010 "Flash Crash" may have been caused by code written in Erlang, a language that allows for recompiling and reloading code while a server is operating. This supports a theory that a programmer, possibly linked to Sergei Aleynikov, ran a "beta test" that accidentally crashed the market. The Erlang virtual machine's ability to execute old and new code simultaneously is cited as a key factor. Keywords: [flash crash](https://search.noagendashow.net/topic/flash-crash.md), erlang, sergei aleynikov, [high-frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md), virtual machine ### SEC Investigation, High-Frequency Trading Triggers - **Episode:** [199: Elephant In The Room](https://search.noagendashow.net/episode/199-elephant-in-the-room.md) - **Published:** 2010-05-13 - **Time:** 45:07–48:42 - **Transcript:** https://search.noagendashow.net/episode/199-elephant-in-the-room/chapter/sec-investigation-high-frequency-trading-triggers.md SEC Chairman Mary Schapiro and CFTC Chairman Gary Gensler testified before Congress regarding the 1,000-point market drop. They ruled out "fat finger" errors and terrorist hacking, instead focusing on a "confluence of events" involving high-frequency traders. The investigation highlights how these traders limited their participation during the crash, removing market liquidity. Keywords: mary schapiro, [sec](https://search.noagendashow.net/topic/sec.md), [cftc](https://search.noagendashow.net/topic/cftc.md), [gary gensler](https://search.noagendashow.net/topic/gary-gensler.md), [high-frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md) ### High-Frequency Trading Beta Test and Trader Zero - **Episode:** [198: Things Could Get Complicated](https://search.noagendashow.net/episode/198-things-could-get-complicated.md) - **Published:** 2010-05-09 - **Time:** 39:12–42:16 - **Transcript:** https://search.noagendashow.net/episode/198-things-could-get-complicated/chapter/high-frequency-trading-beta-test-and-trader-zero.md A theory is presented suggesting the recent market crash was a "beta test" of high-frequency trading code conducted by freelance programmers. The narrative involves a programmer flying into Chicago to recompile code and "flip the switch" on a financial earthquake machine before fleeing to Russia. This theory posits that the crash was a demonstration of power by financial entities rather than a technical glitch. Keywords: [high-frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md), trader zero, [beta test](https://search.noagendashow.net/topic/beta-test.md), [russia](https://search.noagendashow.net/topic/russia.md), financial earthquake machine ### Max Keiser and VST Trading Code Patents - **Episode:** [198: Things Could Get Complicated](https://search.noagendashow.net/episode/198-things-could-get-complicated.md) - **Published:** 2010-05-09 - **Time:** 42:17–45:57 - **Transcript:** https://search.noagendashow.net/episode/198-things-could-get-complicated/chapter/max-keiser-and-vst-trading-code-patents.md Max Keiser, creator of the Hollywood Stock Exchange, is identified as the original patent holder for VST code, which was designed to combat market manipulation. The hosts explain that reverse-engineering this code resulted in modern high-frequency trading systems. Keiser reportedly lost his ability to reclaim the code after patent documents were destroyed in the World Trade Center on September 11, 2001. Keywords: [max keiser](https://search.noagendashow.net/topic/max-keiser.md), vst code, [cantor fitzgerald](https://search.noagendashow.net/topic/cantor-fitzgerald.md), [world trade center](https://search.noagendashow.net/topic/world-trade-center.md), [high-frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md) ### Sergey Aleynikov Goldman Sachs Trial, Spanish Civil War Investigation - **Episode:** [174: Gung Ho!! Fat Choy!](https://search.noagendashow.net/episode/174-gung-ho-fat-choy.md) - **Published:** 2010-02-14 - **Time:** 1:48:36–1:51:00 - **Transcript:** https://search.noagendashow.net/episode/174-gung-ho-fat-choy/chapter/sergey-aleynikov-goldman-sachs-trial-spanish-civil-war-investigation.md The trial of former Goldman Sachs programmer Sergey Aleynikov for allegedly stealing high-frequency trading code is discussed. In a separate international story, Spanish magistrate Baltasar Garzon faces legal challenges for investigating disappearances from the Spanish Civil War. The hosts suggest Garzon is being targeted for attempting to expose historical death squads. Keywords: sergey aleynikov, [goldman sachs](https://search.noagendashow.net/topic/goldman-sachs.md), [high-frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md), baltasar garzon, [spain](https://search.noagendashow.net/topic/spain.md), amnesty law ### Flash Trading Corruption, Market Manipulation Warnings - **Episode:** [170: Flat Chested Women](https://search.noagendashow.net/episode/170-flat-chested-women.md) - **Published:** 2010-01-31 - **Time:** 1:26:56–1:30:34 - **Transcript:** https://search.noagendashow.net/episode/170-flat-chested-women/chapter/flash-trading-corruption-market-manipulation-warnings.md The hosts allege that Goldman Sachs uses corrupt "flash trading" computer models to manipulate market directions. They argue that the current market decline is a result of the inter-bank war between the "Goldmans" and the "Chases." Listeners are advised to exit the stock market immediately, as the hosts believe the entire system is a fake, manipulated Ponzi scheme. Keywords: [flash trading](https://search.noagendashow.net/topic/flash-trading.md), [high-frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md), [lloyd blankfein](https://search.noagendashow.net/topic/lloyd-blankfein.md), rockefellers, [market crash](https://search.noagendashow.net/topic/market-crash.md) ### Goldman Sachs Software Theft, High Frequency Trading and Market Manipulation - **Episode:** [125: Breaking News: Ted Kennedy Is Dead](https://search.noagendashow.net/episode/125-breaking-news-ted-kennedy-is-dead.md) - **Published:** 2009-08-27 - **Time:** 42:41–45:06 - **Transcript:** https://search.noagendashow.net/episode/125-breaking-news-ted-kennedy-is-dead/chapter/goldman-sachs-software-theft-high-frequency-trading-and-market-manipulation.md A New York Times article by Alex Berenson details the arrest of Ali Nikoff for allegedly stealing high-frequency trading software from Goldman Sachs. The software allows the firm to bundle and execute trades before they hit the open market, effectively manipulating the system for profit. The segment highlights that Goldman Sachs uses free TARP funds to engage in these risk-free, billion-dollar trades. Keywords: [goldman sachs](https://search.noagendashow.net/topic/goldman-sachs.md), ali nikoff, [high frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md), [market manipulation](https://search.noagendashow.net/topic/market-manipulation.md), [tarp](https://search.noagendashow.net/topic/tarp.md) ### Goldman Sachs Code Theft and Sergei Alenikoff Arrest - **Episode:** [112: The Doomsday Box](https://search.noagendashow.net/episode/112-the-doomsday-box.md) - **Published:** 2009-07-12 - **Time:** 7:57–11:58 - **Transcript:** https://search.noagendashow.net/episode/112-the-doomsday-box/chapter/goldman-sachs-code-theft-and-sergei-alenikoff-arrest.md Former Goldman Sachs programmer Sergei Alenikoff was arrested by federal agents at Newark Liberty International Airport for allegedly stealing secret high-frequency trading software. The software, referred to as the Doomsday Box, allows for rapid-fire trades that generate small margins at massive volumes, potentially creating a false sense of market liquidity. Keywords: [goldman sachs](https://search.noagendashow.net/topic/goldman-sachs.md), sergei alenikoff, [high-frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md), doomsday box, [department of justice](https://search.noagendashow.net/topic/department-of-justice.md) ### Goldman Sachs Code Theft, Sergey Aleynikov Market Manipulation - **Episode:** [111: Atlas Shrugged](https://search.noagendashow.net/episode/111-atlas-shrugged.md) - **Published:** 2009-07-09 - **Time:** 27:29–29:24 - **Transcript:** https://search.noagendashow.net/episode/111-atlas-shrugged/chapter/goldman-sachs-code-theft-sergey-aleynikov-market-manipulation.md A former Goldman Sachs programmer was arrested for allegedly stealing proprietary high-frequency trading code. The software reportedly allowed the firm to observe and front-run market trades, generating massive daily profits. Authorities expressed concern that the code could be used by "wrong hands" to manipulate global markets. Keywords: [goldman sachs](https://search.noagendashow.net/topic/goldman-sachs.md), sergey aleynikov, [high-frequency trading](https://search.noagendashow.net/topic/high-frequency-trading.md), [market manipulation](https://search.noagendashow.net/topic/market-manipulation.md), [source code](https://search.noagendashow.net/topic/source-code.md) --- This is the markdown version of a page on The No Agenda Show for AI agents. 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