Tag Archives: White Shoe Boys

The 16 Most Important Bitcoinaires

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“Tracking down who’s getting rich off the rapidly rising currency is beyond difficult. That is, unless Bitcoin holders like to brag.  And a handful of them do, while others are trying to generate publicity for their institutional funds that are invested in Bitcoin, like a few hedge funds that have recently come out in support of the currency.  Here’s a look at the world’s known bitcoinaires, and others who are shrouded in mystery. We calculated the worth of their stakes by using today’s exchange rate of $720 for one Bitcoin. The price of Bitcoin is highly volatile, so the dollar value of these Bitcoin owners’ investments can change considerably.”

http://www.buzzfeed.com/mariahsummers/the-16-most-important-bitcoinaires

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Geithner Joins the Wall Street Party

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“He made sure of the solvency of Wall Street and of the City and having done this for four years – and no doubt seeing that the situation was deteriorating further – he decided to head for the exit. He has moved on to take the presidency of a white shoe Wall Street firm specializing in start-up investments. It is his first ‘private sector’ job, we’re told, but one he will be good at because of his work ethic and ‘commitment to leadership.’.  We’ve been discussing the upcoming Wall Street Party, one Geithner is inviting himself to.  Warburg Pincus is a big player in venture capital investing with a main focus, according to various reports on the company, in the areas of energy, technology and healthcare.”

http://www.thedailybell.com/news-analysis/34761/Geithner-Joins-the-Wall-Street-Party/

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Why We’re Not Sneering at the Averages

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“As we can see with modern equity markets, common sense is taking a back seat to pump-priming. There is indeed a Wall Street Party going on, as we’ve pointed out, and the IPO market, in fact, is a large part of it.  When markets are stuffed with money, volatility certainly becomes a concern. We recall the 1987 Crash was brutal, yet markets gradually climbed afterwards, culminating in the tech boom of the late 1990s. Loose money is generally a powerful support for higher averages and stronger numbers.  And yes, this could continue for a while because the REAL economy has not yet felt the full impact of what’s going on in the stock market.”

http://www.thedailybell.com/news-analysis/34758/Why-Were-Not-Sneering-at-the-Averages/

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Is Bitcoin Really Going to $1 Million?

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“As I write this, there are only 5,458 Bitcoins standing in the way of a $500 price per bitcoin. That is to say you could move the market more than 10% with a purchase of less than $2.5 million.  A big question among enthusiasts is what happens if conventional asset managers get behind Bitcoin. What if billions of dollars, not millions, were to flood into the market?  It’s impossible to know, really. But what we can know is that the price would absolutely have to go higher. Right now, all bitcoins in existence are worth all of $5.2 billion. You couldn’t buy $10 billion of Bitcoin at the current price right now. There isn’t enough in existence. The hedge fund industry alone manages $2 trillion.”

http://www.fool.com/investing/general/2013/11/16/is-bitcoin-really-going-to-1-million.aspx

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Investment Manager Explains Why 99.5% Of Americans Can Never Win

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“The bottom line is this: A highly complex set of laws and exemptions from laws and taxes has been put in place by those in the uppermost reaches of the U.S. financial system. It allows them to protect and increase their wealth and significantly affect the U.S. political and legislative processes. They have real power and real wealth. Ordinary citizens in the bottom 99.9% are largely not aware of these systems, do not understand how they work, are unlikely to participate in them, and have little likelihood of entering the top 0.5%, much less the top 0.1%. Moreover, those at the very top have no incentive whatsoever for revealing or changing the rules. I am not optimistic.”

http://www.businessinsider.com/an-investment-managers-view-2013-11

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The Downturn in the Spot Gold Price

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“Virtually from the day that Germany demanded to have its gold delivered back to the Bundesbank, three very clear phenomena have occurred:  1. The gold price, which had been trending sideways, has plummeted.  2. The physical gold held at the COMEX has been pouring out of the warehouses.  3. The amount of physical gold held by the ETFs has stopped rising and started falling.  Fast.  Coincidence? I very much doubt it.”

http://www.hardassetsalliance.com/investing-news/editorial/the-downturn-in-the-spot-gold-price

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EU Easing to Infinity and Beyond?

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“Money printing will continue and financial instruments will therefore continue to inflate, both in Europe and the US. There will be much hand-wringing about deflation and a lack of jobs, but this is not serious. The system cannot function any other way.  As we have pointed out before, we are in the reflationary leg of a bear-market cycle. There will doubtless be significant volatility but the power elite controlling the financial system seems determined to create yet another blow-off.  You may not have a job but if you have assets you will be able to participate in it and possibly reap significant rewards if you are careful and pay attention to the timing of additional money flows. Good luck.”

http://www.thedailybell.com/news-analysis/34741/EU-Easing-to-Infinity-and-Beyond/

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Ron Holland on Protecting Your Wealth in Perilous Times

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“Wall Street and institutional insiders will surely have a party with IPOs and the new opportunities for private equity regardless of how it turns out for individual investors. They make their money when you buy. We investors, on the other hand, only make money when we sell at a profit. We weren’t invited to the party for obvious reasons. I for one plan to crash their party and join in investing earlier rather than, as they would prefer, later as the market peaks out. Email me at rholland@eastnet.ch and request my book Restoring Our American Legacy and then you’ll know what I know and believe may happen over the next four to six years.”

http://www.thedailybell.com/exclusive-interviews/34734/Anthony-Wile-Ron-Holland-on-Restoring-Our-American-Legacy-and-Protecting-Your-Wealth-in-Perilous-Times/

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Bill Bonner: Is QE Broken?

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“Forget about tapering off. Instead, think of tapering on.  How about this as a possibility? With no more ginned-up earnings from ultra-low interest expenses… no boost to top-line revenues from rising consumer spending… and no pricing power – corporate America’s earnings begin to fall.  QE or no QE, stock prices fall. The Fed panics. It will be confronted with dropping asset prices and disinflationary (possibly deflationary) consumer prices. It will have to find a way to modify QE so that it does put dollars directly into the economy. Second, this new push – if it comes – may well send stocks soaring again. There’s nothing like free money to make investors happy. Third, the entire project is doomed.”

http://www.bonnerandpartners.com/is-qe-broken/

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The Madness of Twitter

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“In the modern era, the validity of an enterprise is not so important as whether it conforms to an elite dominant social theme. This is the age of promotion and Facebook and now Twitter show us clearly how Wall Street is being used to change business expectations.  Wall Street is embarking on a party! We’ve written about it numerous times. Afloat on a sea of money-from-nothing, Western – and Asian – stock markets could go higher still. In the process, bankers and brokers shall monetize companies that conform to elite memes but have little else to recommend them.  Of course, fortunes may be made nonetheless, and savvy readers of The Daily Bell may also partake.”

http://www.thedailybell.com/news-analysis/34731/The-Madness-of-Twitter/

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