Posts Tagged ‘Abraham Lincoln’

Michele Bachmann Says F^%* History

Courtesy of Jr. Deputy Accountant

Embarrassing.

Listen, we know no one pays attention in school. We know history is ignored by everyone except history buffs who are into that whole thing (JDA is guilty of skipping history class in high school, by that point TLP was likely working on his 3rd history PhD) and we know that we can, as a society assaulted with a constant stream of tweets, status updates and 24 hour news, barely remember what happened last week let alone in the last few centuries. Surely Bachmann isn’t the only one to make a mistake like this but really, Michele? Really?

Her entire team needs to be fired for sending her out there looking like that.

Then again, in her defense, if you ask an American elementary school kid about Abraham Lincoln’s position on slavery, you might be told that he fought bravely to free the slaves. The Great Emancipator, the textbooks call him.

That’s what I was taught, you too?

The truth, however, is that Lincoln, like Bachmann, was a politician just doing what he had to do. The Emancipation Proclamation was a political move, you’re a sucker if you believe anything else. Worse? Honest Abe offered good government money to pay off slave-owners to get their slaves out of town as part of his 1860 presidential campaign:

In 1860, the 3,185 slaves in the District of Columbia were owned by just two percent of the District’s residents. In April 1862, Lincoln arranged to have a bill introduced in Congress that would compensate District slave-holders an average of $300 for each slave. An additional $100,000 was appropriated 

to be expended under the direction of the President of the United States, to aid in the colonization and settlement of such free persons of African descent now residing in said District, including those to be liberated by this act, as may desire to emigrate to the Republic of Haiti or Liberia, or such other country beyond the limits of the United States as the President may determine.

When he signed the bill into law on April 16, Lincoln stated: "I am gratified that the two principles of compensation, and colonization, are both recognized, and practically applied in the act."

And there’s this quote, which you should know if you are not a high schooler skipping history class: "My paramount object in this…
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The Most Important Treasury Secretary You’ve Never Heard Of

The Most Important Treasury Secretary You’ve Never Heard Of

Courtesy of Joshua M Brown, The Reformed Broker 

Think fast – who’s on the $10,000 bill?  Granted, you may never have actually seen or held one in your hands, but you’d probably know the name if I said it, right?

Okay – it’s Salmon P. Chase who appears on it.

Never heard of him, right?  As we approach Independence Day, I thought we’d take a look at a fairly obscure but important American, the man who both created the national banking system and invented America’s paper currency.

Salmon was a politician from Ohio in the mid-19th century, one of the most outspoken anti-slavery voices in the nation.  He ran for the Presidency as the first Republican candidate, eventually throwing his support behind Abe Lincoln for the national race.  Lincoln ultimately made Chase his Secretary of the Treasury after the election.

As Treasury Secretary from 1861 to 1864, Salmon Chase raised the $500 million needed to finance the Civil War after striving hard to prevent it’s having to be fought at all.  To accomplish this, he sold war bonds with the help of early investment bankers Jay Cooke & Co.

Chase also was the father of our modern paper currency as he created the first "greenback" demand note in 1861.  We won’t hold the fact that his own face appeared on many of these notes against him.  Chase is said to have personally made the decision to have "In God We Trust" added to the bills as well.

Salmon Chase died at the the age of 65 in 1873 and the Chase Manhattan Bank (now a part of JPMorgan Chase) was named in his honor.  From 1928 to 1946, the $10,000 bill was printed and circulated with his face on it.

Anti-slavery activist, proto-Republican and creator of the US paper currency – Salmon Chase is a name you should know. 

 


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Kimble Charting Solutions

Tech Testing 9-Year Support, With Fear Levels At 2009 Highs!

Courtesy of Chris Kimble

Is an important Tech Index sending a bullish message to investors? It is making an attempt!

Does that mean a low in this important sector is in play? Humbly it is too soon to say at this time!

This chart looks at the Nasdaq Composite Index over the past 25-years on a monthly basis.

The index has spent the majority of the past 9-years inside of rising channel (1), as it has created a series of higher lows and higher highs. It created bearish reversal patterns in January & February as it was kissing the underside of the top of the channel and...



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Zero Hedge

Gold Is Now "Unobtanium"

Courtesy of ZeroHedge View original post here.

By now it becoming clear to many that demand for precious metals, as the world 'turns', is far outpacing supply as major gold suppliers and sellers exclaim "there is no gold."

One glance at APMEX pages and two things are immediately clear:

1) There is no gold or silver....

2) And if there is, the premium for physic...

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Insider Scoop

Amazon Warehouse Workers Plan Monday Walkout To Protest Lack Of Coronavirus Protection

Courtesy of Benzinga

Amazon.com Inc.'s (NASDAQ: AMZN) workers at the company's Staten Island warehouse are planning a mass walkout on Monday to protest against what they call a lack of protection provided during the novel coronavirus (COVID-19) pandemic.

What Happened

Anywhere between 50 to 200 workers are expected to participate in the walkout, Christian Smalls, as assistant manager at the New York...



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Phil's Favorites

10 ways to spot online misinformation

 

10 ways to spot online misinformation

When you share information online, do it responsibly. Sitthiphong/Getty Images

Courtesy of H. Colleen Sinclair, Mississippi State University

Propagandists are already working to sow disinformation and social discord in the run-up to the November elections.

Many of their efforts have focused on social media, where people’s limited attention spans push them to ...



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Members' Corner

10 ways to spot online misinformation

 

10 ways to spot online misinformation

When you share information online, do it responsibly. Sitthiphong/Getty Images

Courtesy of H. Colleen Sinclair, Mississippi State University

Propagandists are already working to sow disinformation and social discord in the run-up to the November elections.

Many of their efforts have focused on social media, where people’s limited attention spans push them to ...



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Biotech/COVID-19

The world before this coronavirus and after cannot be the same

 

The world before this coronavirus and after cannot be the same

Gettyimages

Courtesy of Ian Goldin, University of Oxford and Robert Muggah, Pontifical Catholic University of Rio de Janeiro (PUC-Rio)

With COVID-19 infections now evident in 176 countries, the pandemic is the most significant threat to humanity since the second world war. Then, as now, confidence in international cooperation and institutions plumbed new lows.

While the on...



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Digital Currencies

While coronavirus rages, bitcoin has made a leap towards the mainstream

 

While coronavirus rages, bitcoin has made a leap towards the mainstream

Get used to it. Anastasiia Bakai

Courtesy of Iwa Salami, University of East London

Anyone holding bitcoin would have watched the market with alarm in recent weeks. The virtual currency, whose price other cryptocurrencies like ethereum and litecoin largely follow, plummeted from more than US$10,000 (£8,206) in mid-February to briefly below US$4,000 on March 13. Despite recovering to the mid-US$6,000s at the time of writin...



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The Technical Traders

These Index Charts Will Calm You Down

Courtesy of Technical Traders

I put together this video that will calm you down, because knowing where are within the stock market cycles, and the economy makes all the difference.

This is the worst time to be starting a business that’s for sure. I have talked about this is past videos and events I attended that bear markets are fantastic opportunities if you can retain your capital until late in the bear market cycle. If you can do this, you will find countless opportunities to invest money. From buying businesses, franchises, real estate, equipment, and stocks at a considerable discount that would make today’s prices look ridiculous (which they are).

Take a quick watch of this video because it shows you ...



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Chart School

Cycle Trading - Funny when it comes due

Courtesy of Read the Ticker

Non believers of cycles become fast believers when the heat of the moment is upon them.

Just has we have birthdays, so does the market, regular cycles of time and price. The market news of the cycle turn may change each time, but the time is regular. Markets are not a random walk.


Success comes from strategy and the execution of a plan.















Changes in the world is the source of all market moves, to catch an...

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ValueWalk

Entrepreneurial activity and business ownership on the rise

By Jacob Wolinsky. Originally published at ValueWalk.

Indicating strong health of entrepreneurship, both entrepreneurial activity and established business ownership in the United States have trended upwards over the past 19 years, according to the 2019/2020 Global Entrepreneurship Monitor Global Report, released March 3rd in Miami at the GEM Annual Meeting.

Q4 2019 hedge fund letters, conferences and more

The Benefit Of Entrepreneurial Activity ...

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Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

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Mike will show off the TradeExchange's new platform which you can try for free.  

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Lee's Free Thinking

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

 

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

Courtesy of  

The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

Lee,

The ‘experts’ I hear from keep saying that once 300B more in reserves have ...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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