TRAVELING THE WORLD, WRITING WHAT THE PEOPLE NEED TO KNOW.
TRAVELING THE WORLD, WRITING WHAT THE PEOPLE NEED TO KNOW.
It’s no secret that governments hate the free market. At its base, every single government tax, license, regulation and restriction is an implicit rebuke of the idea that humans should be able to interact freely with those around them. This is old news to my long-term readers, but it bears repeating because many have been Read More…
It has all the elements of a Hollywood heist movie: A well-known jeweler-to-the-stars and his shady accomplice. A risky gambit to exploit a banking loophole. Inside help from a high-ranking official. A $2 billion swindle. And the whole house of cards crashing down in spectacular, front-page fashion. But here’s the Bollywood twist: The well-known jeweler Read More…
Paul Volcker began his term as chairman of the Federal Reserve Board of Governors in August of 1979. In October, the S&P 500 index dropped 11% on its way to a 20% drop in 1980. Alan Greenspan was sworn in as Fed chairman in August 1987. On October 19, 1987 the markets suffered through “Black Read More…
Sometimes the truest of hard truths are to be found smack dab in the middle of the fakest of fake news. You just have to read between the lines. Take a recent story that bubbled up amid all the hype about the all-time record highs in the “What Could Possibly Go Wrong?” manipulated stock markets. You Read More…
The U.K.’s Financial Conduct Agency recently fined Merrill Lynch $45 million, once again sparking concerns over the massive derivatives market. The wealth management division of Bank of America failed to report more than 68 million derivatives transactions dating all the way back to 2014. It had already been forced to pay $20 million in 2015 for an earlier offense. Despite Read More…
Hang on to your hats, folks. I know you’re going to have a hard time believing this one. Are you ready? (You might need to sit down for this.) OK, brace yourself: the US Senate just made it harder for Americans to sue banks. I know, I know. I can hardly believe it either. But Read More…