Posts Tagged ‘criminal probe’

10 Things You Need To Know That Are Going On This Weekend

SPECIAL EDITION: 10 Things You Need To Know That Are Going On This Weekend

Courtesy of Joe Weisenthal, at Clusterstock 

It’s a Saturday, but it certainly doesn’t feel like it, because there’s a heck of a lot going on. 

Here’s what you need to be paying attention to this May Day.

  • Greece/IMF/EU talks continue. According to Greek government officials, some kind of announcement may be made today. The market is hoping to hear something that’s orders of magnitude stronger than any bailout announcement we’ve gotten so far, or otherwise the feeling will be that it can and will fall through again.
  • Of course, there are fresh violent, anti-austerity protests going on today in Athens. The fact that it’s May Day, a day for celebrating anti-capitalism only adds to the tension.
  • New reports suggest the criminal probe into Goldman Sachs is not just a perfunctory follow-on to the SEC charges, but rather a truly separate thing that’s wider than Abacus, and that started before the SEC’s investigation. HUGE.
  • With just five days before the election, UK’s The Guardian has endorsed the Liberal Democrats, the country’s biggest third party. Its leader, Nick Clegg, has surged thanks to a string of strong debate performances, Gordon Brown’s disastrous campaigning, and a lingering sense of unease with the conservatives.


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    Federal Prosecutors Conducting CRIMINAL Probe Of Goldman Sachs

    Federal Prosecutors Conducting CRIMINAL Probe Of Goldman Sachs

    Courtesy of Joe Weisenthal at Clusterstock 

    Banking CEO's Testify Before House On Use Of TARP Funds

    Following the SEC’s fraud charges against the firm, prosecutors have opened up a criminal probe of Goldman Sachs (GS), the WSJ is reporting this evening.

    There are several things to note here, particularly the fact that an initial probe is no guarantee that charges will actually filed. In fact, such initial probes are common after civil charges are brought.

    Although the ramifications of such a case would be enormous, the significant weaknesses and ambiguities that have emerged in the SEC’s case may make prosecutors gun-shy.

    Lady justice with scales

    Why else?

    Notes WSJ:

    But the Goldman probe presents a significant challenge for the government. Prosecutors in the Brooklyn office of the U.S. Attorney last year lost a high-profile fraud case against two former Bear Stearns Cos. executives, in the first major criminal case linked to the financial meltdown.

    Prosecutors had accused the Bear Stearns employees of lying to investors in 2007 about the health of two funds that eventually collapsed. The case centered on what the government viewed as incriminating emails indicating the traders knew the mortgage market would fall but didn’t disclose that view to investors.

    To bring any criminal charges in the Goldman matter, prosecutors would need to believe they had gathered evidence that showed that the firm or its employees knowingly committed fraud in their mortgage business. Proving such intent to break the law typically is the toughest hurdle for prosecutors to clear.

    Read the whole report > 


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    The Technical Traders

    Massive Price Reversion May Be Days or Weeks Away

    Courtesy of Technical Traders

    Our researcher team believes a massive global market price reversion/correction may be setting up and may only be a
    few days or weeks away from initiating. 
    Our team of dedicated researchers and market analysts have been studying the markets, precious metals, and most recently the topping formation in the ES (S&P 500 Index).  We believe the current price pattern formation is leading into a price correction/reversion event that could push the US major indexed lower by at least 12 to 15%.

    Historically, these types of price reversion events are typically considered “price exploration”.  Over time, investors push a pricing/valuation bias into the ma...



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    Zero Hedge

    Jeffrey Epstein Paid Doctors To Drug 'Sex Slaves': Report

    Courtesy of ZeroHedge View original post here.

    Victims of dead pedophile Jeffrey Epstein say he paid doctors and psychiatrists to dope them up with anti-anxiety and antidepressant medications, according to a new report in the Miami Herald

    "There were doctors and psychiatrists and gynecologist visits. There were dentists who whitened our teeth. There was a docto...



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    Insider Scoop

    Notable Insider Buys In The Past Week: AbbVie, Kraft Heinz And More

    Courtesy of Benzinga

    Insider buying can be an encouraging signal for potential investors.

    A packaged food giant and two drugmakers saw notable insider buying activity this past week.

    Some of this insider buying occurred alongside insider sales.

    Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit. So insider...



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    Phil's Favorites

    Peloton IPO Guide... And Why It Makes No Sense

    Courtesy of ZeroHedge

    By Scott Willis via Grizzle.com

    BOTTOM LINE

    At the end of the day, Peloton is a gym membership pretending to be a tech company.

    We fully admit the product is exciting and unique in the market, but Peloton still faces the same problem...



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    Digital Currencies

    Buyer beware: How Libra differs from Bitcoin

     

    Buyer beware: How Libra differs from Bitcoin

    Recent revelations about the lack of privacy protections in place at the companies involved in Facebook’s new Libra crytocurrency raise concerns about how much trust users can place in Libra. (Shutterstock)

    Courtesy of Alfred Lehar, University of Calgary

    Facebook, the largest social network in the world, stunned the world earlier this year with the announcement of its own cryptocurrency, Libra.

    The launch has raised questions about the difference between Libra and existing cryptocurrencies, as well as the implications of private companies competing with s...



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    Lee's Free Thinking

    Look Out Bears! Fed New QE Now Up to $165 Billion

    Courtesy of Lee Adler

    I have been warning for months that the Fed would need new QE to counter the impact of massive waves of Treasury supply. I thought that that would come later, rather than sooner. Sorry folks, wrong about that. The NY Fed announced another round of new TOMO (Temporary Open Market Operations) today.

    In addition to the $75 billion in overnight repos that the Fed issued and has been rolling over since Tuesday, next week the Fed will issue another $90 billion. They’ll come in the form of three $30 billion, 14 day repos to be offered next week.

    That brings the new Fed QE to a total of $165 billion. Even in the worst days of the financial crisis, I can’t remember the Fed ballooning its balance sheet by $165 bi...



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    Kimble Charting Solutions

    India About To Experience Major Strength? Possible Says Joe Friday

    Courtesy of Chris Kimble

    If one invested in the India ETF (INDA) back in January of 2012, your total 7-year return would be 24%. During the same time frame, the S&P 500 made 124%. The 7-year spread between the two is a large 100%!

    Are things about to improve for the INDA ETF and could it be time for the relative weakness to change? Possible!

    This chart looks at the INDA/SPX ratio since early 2012. The ratio continues to be in a major downtrend.

    The ratio hit a 7-year low a few months ago and this week it kissed those lows again at (1). The ratio near weeks end is attempting to...



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    Chart School

    Crude Oil Cycle Bottom aligns with Saudi Oil Attack

    Courtesy of Read the Ticker

    Do the cycles know? Funny how cycle lows attract the need for higher prices, no matter what the news is!

    These are the questions before markets on on Monday 16th Aug 2019:

    1) A much higher oil price in quick time can not be tolerated by the consumer, as it gives birth to much higher inflation and a tax on the average Joe disposable income. This is recessionary pressure.

    2) With (1) above the real issue will be the higher interest rate and US dollar effect on the SP500 near all time highs.

    3) A moderately higher oil price is likely to be absorbed and be bullish as it creates income for struggling energy companies and the inflation shock may be muted. 

    We shall see. 

    ...

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    Biotech

    The Big Pharma Takeover of Medical Cannabis

    Reminder: We are available to chat with Members, comments are found below each post.

     

    The Big Pharma Takeover of Medical Cannabis

    Courtesy of  , Visual Capitalist

    The Big Pharma Takeover of Medical Cannabis

    As evidence of cannabis’ many benefits mounts, so does the interest from the global pharmaceutical industry, known as Big Pharma. The entrance of such behemoths will radically transform the cannabis industry—once heavily stigmatized, it is now a potentially game-changing source of growth for countless co...



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    Mapping The Market

    How IPOs Are Priced

    Via Jean Luc 

    Funny but probably true:

    ...

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    Members' Corner

    Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

    Are you ready to retire?  

    For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

    Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

    Still, the stock market has been better over the last 10 (7%) an...



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    Promotions

    Free eBook - "My Top Strategies for 2017"

     

     

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    Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

    In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

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