Tag Archives: White Shoe Boys

See which bigwig insiders are cashing in

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“I took a look at SEC filings showing recent insider stock sales at some of the biggest Chicago-area companies. It’s a worthwhile exercise any time of the year, but particularly now. As another year draws to a close, folks tend to take stock (pun intended) of things and make adjustments based on expectations for the year ahead.  Of course, insiders sell stock for any number of reasons, many of which have nothing to do with a company’s outlook. Often they sell preset amounts at regular intervals established far in advance under automatic selling programs.  Still, it’s interesting to see which local insiders have decided to take a few chips off the company table.”

http://www.chicagobusiness.com/article/20131204/BLOGS10/131209932

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Bank of America: Bitcoin Has Clear Potential for Growth

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“Bank of America has become the first US bank to talk openly about bitcoin, having issued a client note stating that the digital currency has ‘clear potential for growth’.  The news came in a 14-page note sent to clients by Bank of America currency strategist David Woo. He said he believes the maximum market cap of bitcoin is $15bn, or about 1,300 USD per 1 BTC. In the note, Woo pointed out that bitcoin makes sense as a medium of exchange and has the potential to become a major means of payment for e-commerce. It could even emerge as a serious competitor to traditional money transfer providers, Woo wrote.”

http://www.coindesk.com/bank-of-america-bitcoin-growth/

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Bitcoin Price Could Reach $98,500, Say Wall Street Analysts

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“The price of bitcoin could increase to as much as $98,500, according to analysts at financial services and investment firm Wedbush Securities.  A report from analysts Gil Luria and Aron Turner, which has been referenced on StreetInsider.com, takes an extremely positive view of bitcoin, suggesting digital currency has the potential to shake up the current payments space.  Last month, the Winklevoss twins remarked that they envisioned bitcoin increasing by 100 times.  Ex-Facebook executive Chamath Palihapitiya is also pretty bullish about bitcoin.  At the end of October, he revealed he owned $5m worth of the digital currency.”

http://www.coindesk.com/bitcoin-price-reach-98500-say-wall-street-analysts/

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Could We Have Been Correct About the Stock Market?

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“Today government – and its central banks – utilize the private sector for policy purposes. Tomorrow, government may see fit to move those levers directly. In the meantime, there can be no doubt – as we have observed – that the plan is to take the stock market a good deal higher. While equity purists shall object that when earnings decouple from prices a crash is near, we would beg to differ. Volatility is certainly headed our way. But not necessarily an earth shattering crash, or not yet anyway. Markets are strange beasts. Pumped up by modern fiat money, they can go higher than one might expect – and then stay down longer, as well, as Japanese markets have.”

http://www.thedailybell.com/news-analysis/34784/Could-We-Have-Been-Any-More-Correct-About-the-Stock-Market/

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Gold suffers worst November since 1978

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“A price fall of such magnitude hasn’t been seen in November since 1978, according to data from the World Gold Council, when prices plunged 20 percent.  Spot gold rested at $1,252 an ounce on Friday and was headed for its biggest monthly drop since June. It has lost over a quarter of its value year-to-date, putting it on track to post its first annual loss in 13 years.  Citi said this month that gold was about to enter ‘phase two’ of its bear market and its downside target for the metal is now $1,111 per ounce. Goldman Sachs, meanwhile, predicts a ‘significant decline’ in gold in 2014, with a fall of at least 15 percent.”

http://www.cnbc.com/id/101235384

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London Gold Fix Calls Draw Scrutiny Amid Heavy Trading

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“Every business day in London, five banks meet to set the price of gold in a ritual that dates back to 1919. Now, dealers and economists say knowledge gleaned on those calls could give some traders an unfair advantage when buying and selling the precious metal. The U.K. Financial Conduct Authority is scrutinizing how prices are set in the $20 trillion gold market, according to a person with knowledge of the review who asked not to be identified because the matter isn’t public.  The process, during which gold is bought and sold, can take from a few minutes to more than an hour. The participants also can trade the metal and its derivatives on the spot market and exchanges during the calls.”

http://www.bloomberg.com/news/2013-11-26/gold-fix-drawing-scrutiny-amid-knowledge-tied-to-eruption.html

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Most Bizarre Hedging Statement Ever?

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Anthony-Wile1

“This last blow-off is going to be a merciless one that will precede perhaps a movement toward a more global currency or a diminishment of the dollar reserve standard itself. Many may be tempted to sit out this latest – promulgated – rally based on the obvious and evident macro-manipulations. And I will continue to point out the various machinations that are setting up the Party. They are a long ways away from snatching the punch bowl on this one and fortunes will be made because one thing this sort of vast manipulation portends is volatility and plenty of it. Is the market a kind of Titanic heading toward an iceberg? Of course it is.  But it’s going to be a helluva ride.”

http://www.thedailybell.com/editorials/34771/Anthony-Wile-Most-Bizarre-Hedging-Statement-Ever/

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Goldman Sees at Least 15% Losses for Gold, Iron Ore

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“Gold, which was at $1,244.80 an ounce on the Comex at 8:51 a.m. in New York, will drop $1,050 at the end of next year, Goldman said in the report, restating an earlier forecast. Currie said last month that gold is a ‘slam dunk’ sell for next year as the U.S. economy extends its recovery.   Bullion is headed for the first drop since 2000 this year as investors cut holdings. Futures lost as much as 2.6 percent yesterday after the Fed signaled that tapering may start in the months ahead, according to minutes from its October meeting. Lower gold prices would alleviate concern about inflation and current account deficits in emerging markets such as Turkey and India, it said.”

http://www.bloomberg.com/news/2013-11-21/goldman-predicts-significant-losses-for-gold-iron-ore-in-2014.html

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Venezuela’s Central Bank to Trade Gold with Goldman Sachs

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“Venezuela’s Central Bank and Goldman Sachs are ready to sign an agreement to swap or exchange international gold reserves, with a start date in October, as stated in the contract, and until October 2020.  The negotiated amount, equivalent to 1.45 million ounces of gold, are deposited in the Bank of England and the transfers are made directly to Goldman Sachs once delivery times are stipulated.  The operation involves the delivery of gold from the central bank, which will receive dollars from the U.S. firm. Economist Jose Guerra explains that this operation is being undertaken because of the fall in international reserves, on Nov. 15 totaled $20.6 billion, a loss of $9.9 billion in 11 months.”

http://www.gata.org/node/13264

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The Fundamental Characteristic that Recommends Janet Yellen

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“We expect an ever more emphatic stream of double-talk and market manipulations as the final acts of this tragedy play out. First, a Wall Street Party and then … the ruinous aftermath. And throughout this scenario, the constant, delusional drip of increasingly unmoored statements about the Fed’s competence and the government’s efficiency generally. Somehow the eventual unwinding of these trillions shall be blamed on the private markets and as everything crashes down, those at the top will suggest a new and even more globalized system using the strategies that have created such domestic havoc.”

http://www.thedailybell.com/news-analysis/34763/The-Fundamental-Characteristic-that-Recommends-Janet-Yellen/

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