Category Archives: Essays

A Day in the Life of a Regulated Financial Professional

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“EVERY piece of correspondence including email and hard copy mail MUST be approved by a General Securities Principal before being sent – ‘Nice having lunch Jim, look forward to discussing your IRA’;  Certain written materials, such as brochures, articles web pages or blog pages ALSO have to be approved by a Compliance officer; In some cases these materials have to ALSO be approved by the regulators; Any article, magazine or link sent must be approved (and usually will not be); Licensed Registered Representatives must report the use of ALL outside personal email addresses and social media – if you do use social media, a compliance officer from your firm WILL review your posts… [..]”

http://www.reddit.com/r/Bitcoin/comments/1x6go4/bitcoin_regulation_allow_me_to_give_you_an_idea/

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Tough Lessons for the Next Generation

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“I wish Dad were here today to tell us what he thinks about events that have come to pass since then — the tech wreck of 2000, the housing bust of 2006, the debt crisis of 2008 and the massive Fed money printing ever since.  The fact remains that no one can predict the future with precision. The best we can do is prepare prudently, and that’s what you should do too.  Never forget the key factor that has always sustained prudent investors through thick and thin — SAFETY. Always favor lower risk investments, taking bigger risks strictly with money you can afford to lose.”

http://www.moneyandmarkets.com/tough-lessons-for-the-next-generation-2-57974

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Bill Bonner: Why the Fed’s ‘Taper’ Won’t Work

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Bill-Bonner2

“The Fed had little choice. It has to pretend to go straight at least for a month or two more. Otherwise, it won’t have a shred of credibility left. And so far, so good. It looks like stocks will close the month of January down only 3%. Not catastrophic.  The Fed will continue attending its Counterfeiters Anonymous meetings – until the market really cracks. Then it will roll up its sleeves and get out the paper and ink. Janet Yellen will not want to preside over a crashing market any more than Ben Bernanke did.  Yes, the Fed has broken the US economy and its markets. Now, it owns them.  It can no longer permit the stock and bond markets to do what comes naturally to them – correct their mistakes.”

http://www.bonnerandpartners.com/why-the-feds-taper-wont-work/

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Bill Bonner: Is the Greatest Bull Market of All Time Now Over?

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Bill-Bonner2

“Something important happened in the early 1980s. The healthy economy of the postwar period split in two – one real… one unreal.  In one, people got rich. No special knowledge or skills were required. You just had to buy US stocks and wait. If you put in $100,000 in 1982, you’d have about $1,500,000 today.  Or you could have made about the same amount from the bond market. Again, no sweat. But better even than buying stocks and bonds – much better – was selling them. This created a new class of rich people. A financial elite who got MBAs or degrees in math and finance and then went to work for Goldman Sachs, JPMorgan, Merrill Lynch and other Wall Street firms.”

http://www.bonnerandpartners.com/is-the-greatest-bull-market-of-all-time-now-over/

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The burgeoning underground economy

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“Recently in England, there was an uproar among customers of the HSBC bank when it ‘imposed a restriction blocking customers from withdrawing large amounts of money from their own accounts, unless they could provide the bank with a ‘good reason’ for it.’  It’s highly likely that HSBC’s issues go far deeper than a capricious desire to inconvenience customers. But it underscores a very uncomfortable fact: When you deposit money into a bank, you relinquish control over it. You have, in fact, made a loan to the bank. And short of calling the loan by closing the account, the bank (not you) gets to decide when – and if – they will pay you back.”

http://www.wnd.com/2014/01/the-burgeoning-underground-economy/

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Free Market Healthcare in the Former Eastern Bloc

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“To be honest, most Eastern European countries still have a very centrally planned health system, but if you look at Western Europe, most countries—except the Netherlands and Switzerland—have heavily centrally planned health systems themselves. Some more, some less.  There are a couple of very interesting examples in Eastern Europe, of what privatisation and deregulation of healthcare has achieved. I would like to highlight those, because they are also interesting for people from Western countries to get really good ammunition for arguments in why we need more markets and healthcare. Why do people benefit from more markets in healthcare?”

http://isil.org/giant-or-dwarf-free-market-healthcare-in-the-former-east-block/

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Powers-That-Be Secretly Terrified Of People, Pretend They’re In Control

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“Part of the reason that our actions are more powerful than we think is that courage is contagious. So is the ability to think.  And a recent study shows that when only 10% of a population have strongly-held beliefs, their belief will often be adopted by the majority of the society.  True, governments worldwide are cracking down on liberty with the iron fist of repression.  But some argue that this is actually a sign that we are winning.  Indeed, the use of heavy-handed tactics – taking the velvet glove off of the iron fist – could backfire, as it will show the ’emperor’s ruthlessness’ for all to see.”

http://www.washingtonsblog.com/2014/01/powers-secretly-terrified-mass-awakening-pretend-powerless.html

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Pulling the Plug: Taking Delivery of Gold

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“In 2011, the University of Texas investment committee took delivery of what was then just under $1 billion worth of gold. It had held the gold in the form of gold futures contracts. Kyle Bass persuaded the committee to take delivery. The statement that only 1% of futures contract holders (‘longs’) ever ask for delivery is significant.  Most people trade futures to make fiat money. They do not trade as hedgers who plan to take delivery. They are speculators. They want leverage. Futures give them this.  It is clear that if 4% (20% of 20%) ever want delivery, they will not be able to get it.  The rules will be changed, as they were when Bunker Hunt threatened to take delivery in 1979.”

http://www.garynorth.com/public/12045.cfm

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An Armed People in Mexico and Their Threat to the State

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“The self-defense groups have been organizing themselves–and have seized towns throughout Mexico in over 11 states–to fight against cartels like the Knights Templar in Michoacan under the umbrella of the Consejo de Autodefensas Unidas de Michoacan (Council ofUnited Self-Defense Groups of Michoacan). The Mexican government just sent their military to disarm them in Parácuaro , according to reports shooting 7-12 and killing 4 people, including an 11 year old girl, only to later return their weapons due to public pressure. People from Parácuaro came out to the main road to confront the military with sticks and stones, which forced them to return the weapons.”

http://joaquincienfuegos.blogspot.com/2014/01/an-armed-people-and-their-threat-to.html

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Jeffrey Tucker: Police Work Has Become a Racket

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“Did I get in trouble for endangering people, meaning that my citation improved the social order by goading us all into safer behavior?  I don’t think so.  I’ll tell you what happened: I was taxed, which is to say I was robbed. This seems to be the major function of police work now, raising money for the government. In fact, it is something that police themselves have suggested as a way of forestalling budget cuts.  Police Chief Magazine suggested after the 2008 financial crisis a way to ‘help the survival of a city and maintain or expand police service through generating new revenue streams as a proactive approach to meet the fiscal crisis of today and the uncertain future of tomorrow.'”

http://www.fee.org/the_freeman/detail/police-work-has-become-a-racket

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