Tag Archives: White Shoe Boys

Secrets From The Sexist Pitchbook Of One Of Wall Street’s More Notorious Firms

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“BuzzFeed has obtained the ‘Golden Pitchbook’ used by top brokers at John Thomas Financial. In its pages: How cold-calling brokers pressure prospects to buy stocks from the troubled firm.  The aggressive pitch tactics in the book and supporting JTF documents, such as what one scenario described by the source as ‘Don’t Pitch The Bitch,’ have caught the attention of the FBI, the Securities and Exchange Commission, and the Financial Industry Regulatory Authority.”

http://www.buzzfeed.com/mariahsummers/exclusive-secrets-from-the-sexist-pitchbook-of-one-of-wall-s

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Godfrey Bloom: Why the whole banking system is a scam

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Godfrey Bloom: Why the whole banking system is a scam

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CME Halted Silver Trading 4 Times Sunday as Prices Slid 9%

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“Exchange operator CME Group Inc. (CME) said it halted silver trading four times Sunday evening due to highly volatile markets, a spokesman told Dow Jones Newswires. The trading halts came as silver futures slumped 9.4% to a low of $20.250 a troy ounce in the first few minutes following the open of electronic trading on the Comex division of the New York Mercantile Exchange. Silver trading was stopped for two 20 second intervals at 6:07 p.m. EDT and 6:09 p.m. EDT, and two consecutive 20 second halts at 6:09 p.m. and 6:10 p.m., the spokesman said. CME Group owns and operates both the Nymex and the Comex exchanges.”

http://online.wsj.com/article/BT-CO-20130520-706401.html

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Hong Kong Mercantile Exchange closes its doors; investors compensated in cash

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“HKMEx chairman Barry Cheung Chun-yuen told the Sunday Morning Post that the decision to surrender the trading licence and not reopen for business tomorrow would have no impact on investors and that client contracts would be honoured. ‘There is no question of not getting your money back or anything like that. People absolutely do not have to worry about that and I don’t think they are. The only thing they will want to know is what settlement price will be used,’ Cheung said.”

http://www.scmp.com/news/article/1240917/hong-kong-mercantile-exchange-closes-its-doors

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Paul Craig Roberts: Assault On Gold Update

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“Who has 16 million ounces of gold? At the beginning gold price that day of about $1,550, that comes to $24,800,000,000. Who has that kind of money? What happens when 500 tons of gold sales are dumped on the market at one time or on one day? Correct, it drives the price down. Investors who want to get out of large positions would spread sales out over time so as not to lower their sales proceeds. The sale took gold down by about $73 per ounce. That means the seller or sellers lost up to $73 dollars 16 million times, or $1,168,000,000. Who can afford to lose that kind of money? Only a central bank that can print it.”

http://www.paulcraigroberts.org/2013/04/13/assault-on-gold-update-paul-craig-roberts/

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Hedge funds selling gold ‘in a big way’

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“Hedge funds and other big speculators in commodities have started selling gold in a big way, trade data showed on Friday, just a month after they had supported the precious metal amid a record tumble in its price. Money managers, including hedge funds, pulled $1.4 billion from the U.S. gold futures market for the week ended May 14 by trimming their net long positions in the metal, according to Reuters calculations of data released by the Commodity Futures Trading Commission (CFTC).  Open interest, a measure of market liquidity, fell more than 3 percent in the week to May 14 for gold contracts traded by money managers on the COMEX.”

http://www.reuters.com/article/2013/05/17/us-hedgefunds-commodities-cftc-idUSBRE94G0XV20130517

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Another Amazing Fat Tuesday on Wall Street

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“The Dow Jones Industrial average closed Tuesday at a new all-time high with a triple-digit surge of 123 points. And it’s fitting that the Dow hit a new high of 15,215 on a Tuesday because it’s the 18th straight Tuesday that the industrials have finished the day higher than where they began.  This 18 for 18 streak started all the way back on January 15.  The Dow since then is up more than 1700 points. And according to the statistical gurus at Bespoke Investment Group over 1400 of the 1700 plus points gained since then on the Dow have come on, you guessed it, Tuesday. That’s 83 percent of all the gains in stocks since then coming on this one day of the week.”

http://abcnews.go.com/blogs/business/2013/05/another-amazing-fat-tuesday-on-wall-street/

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Paul Craig Roberts: Gangster State America

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“My explanation that the sudden appearance of an unprecedented 400 ton short sale of gold on the COMEX in April was a manipulation designed to protect the dollar from the Federal Reserve’s quantitative easing policy has found acceptance among gold investors and hedge fund managers. The sale was a naked short. The seller had no gold to sell. COMEX reported having gold only equal to about half of the short sale in its vaults, and not all of that was available for delivery. No one but the Federal Reserve could have placed such an order, and the order came from one of the Fed’s bullion banks, one of the entities ‘too big to fail.'”

http://www.paulcraigroberts.org/2013/05/13/gangster-state-america-paul-craig-roberts/

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Gold Demand In One Chart: Physical vs ETF

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“China’s demand for gold jumped 20% to 294 tonnes in the first quarter of 2013, while global gold demand overall slid 13% thanks to the dramatic rotation of demand from paper to physical. Central banks added 109.2 tonnes of gold to their reserves in Q1 2013, the ninth consecutive quarter of net purchases. But it was the Q1 ETF outflows of 176.9 tonnes, equating to a 7% decline in total gold ETF holdings that obscured the strong rise in investment for gold bars and coins at the retail level. In the face of the huge ‘paper’ gold ETF outflows, ‘physical’ gold demand surged to its highest in 18 months.”

http://www.zerohedge.com/news/2013-05-16/gold-demand-one-chart-physical-vs-etf

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Gold’s dichotomy: Investment demand plunges, but consumers keep buying

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“Today’s gold market is being defined by two trends: aggressive selling by investors in North America through exchange-traded funds, and aggressive buying by consumers in Asia.  But for now, the ETF investors are overwhelming everyone else.  Gold prices settled below US$1,390 an ounce on Thursday, and after five rough trading days in a row, they are approaching the lows that were reached during last month’s dramatic collapse.  Chinese gold imports have been going through the roof. Data released last week showed that China imported 223.5 tonnes (or 7.9 million ounces) from Hong Kong in March, crushing the previous monthly record.”

http://business.financialpost.com/2013/05/16/golds-dichotomy-investment-demand-plunges-but-consumers-keep-buying/

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