This post is clearly off topic for iPhonAsia … yet it highlights how market speculators can use the Internet to start rumors that can move the financial and commodity markets. Don’t believe everything you read or see on the net … or in the mainstream media for that matter. Do your own due diligence!
The small image above/right was posted on Wednesday on a website run by Iran’s Revolutionary Guard and was quickly circulated by news agencies. Large market players and hedge funds used the images to spike the price of oil and drop the overall financial markets. Only later did experts uncover problems. First there were no Iranian missile tests on Wednesday and second the image which panicked the markets was clearly doctored – extra missiles were photoshopped in for drama. Be skeptical when you see stuff like this! The photo below is of course a parody. Also shows how easy it is to doctor images.
Photo Caption courtesy Riley: Wanted photoshop gurus to work at hedge funds. Good pay. Help us to destroy the global economy.