Posts Tagged ‘violation of pubic trust’

Did The Roman Empire Have Corporations?

Did The Roman Empire Have Corporations?

Courtesy of Charles Hugh Smith, Of Two Minds 

Julius Caesar (100-44 BC) Roman soldier and statesman. Engraving c1825.

Unlike our Corporate/State Empire, the Roman Empire did not have privately held, transnational corporations running the bread and circuses.

My longtime friend G.F.B. recently asked, "Did the Roman Empire have corporations?" Based on my admittedly incomplete reading of Gibbons and a survey of Pompeii I am currently reading, I believe the answer is "no."

Yes, the Republic and later, the Empire, had ruling Elites and politically influential families who controlled immense wealth, but G.F.B.’s point was not about influence or wealth alone: Did the Empire flourish without accountability and personal responsibility?

In other words, were the Elites which controlled the Empire never held personally accountable? If so, then they may well have functioned as the equivalent of today’s corporations.

But history--and what a long history the Roman Empire carved--suggests individuals who failed paid a price.

In today’s Corporate Empire, the Elite individuals running the corporations can despoil, bribe, embezzle, cheat and collude and they completely evade accountability. Sure, the corporation pays a fine (or sets up a $20 billion fund with shareholders’ funds), but the people in charge who oversaw the skimming, bribery, collusion, profiteering, embezzlement, mismanagement of funds, violation of the public trust, etc. are never really accountable; instead, they are awarded golden parachutes worth millions of dollars for their service to the goal of enriching the Elites and owners of the corporation.

The much-touted Sarbanes-Oxley financial regulations do require that individuals vouch for the accuracy of the corporate accounting, but how many CEOs and CFOs are serving time for violating the Sarbanes-Oxley Act?

After the U.S. financial and mortgage sectors have been pillaged for years, how many individuals are under indictment for any finance-related crime, large or small? I think the evidence is overwhelming that Sarbanes-Oxley and the rest of the regulatory system which claims to invoke accountability is in fact a facsimile, a facade of righteousness maintained for P.R. purposes. Behind the screen, it’s all about scooping swag and then evading any accountability for that pillaging, collusion and corruption.

NEW YORK - APRIL 19: People walk towards Wall Street in the financial district April 19, 2010 in New York City. Increased scrutiny of numerous Wall Street financial institutions and firms has resulted from Friday's announcement by the Securities and Exchange Commission (SEC) of a civil fraud suit against Goldman Sachs. (Photo by Spencer Platt/Getty Images)

This is yet more evidence that the U.S. is a de facto Corporate/State Empire which benefits the Power Elites who have partnered private gain with global reach.

Please read Shadow Elite: Selling Out Uncle Sam: The Collision of State & Private Power for more on how this works…
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Phil's Favorites

Life in South Africa's economic hub is improving -- but big challenges remain

 

Life in South Africa's economic hub is improving -- but big challenges remain

The Gauteng City-Region is home to a quarter of South Africa’s population. Mark Momberg

Courtesy of Julia de Kadt, Gauteng City-Region Observatory and Alexandra Parker, Gauteng City-Region Observatory

More than 14 million people live in South Africa’s economic hub, the Gauteng City-Region. That’s 25% of the country’s population.

A lot of media reporting and public discussion about Gauteng i...



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Zero Hedge

"It Was All A Lie": Homeless Vet, NJ Couple Charged In $400,000 GoFundMe Grift

Courtesy of ZeroHedge. View original post here.

A feel-good story about a New Jersey couple who raised over $400,000 to help a homeless good Samaritan - before they pilfered his GoFundMe account - was all a scam, a prosecutor said Thursday. 

39-year-old Mark D'Amico (left), 28-year-old Kate McClure (center) and 35-year-old Johnny Bobbitt (right) are facing theft and conspir...

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Kimble Charting Solutions

Gold Bugs; Would Love This To Be A Double Top!

Courtesy of Chris Kimble.

Gold, Silver, and the precious metals industry have a pretty simple relationship with the U.S. Dollar: They perform better when the Dollar is weakening… and they tend to struggle when the Dollar is strengthening.

One of our favorite ratios to monitor for Gold Bugs is the U.S. Dollar/Gold ratio. It tells us when the Dollar is weakening or heading lower (which is good for gold) or when it is strengthening or heading higher (bad for gold).

Looking at the Dollar/Gold chart below, we can see that the ratio climbed higher from late 2011 to early 2016. This wreaked havoc on Gold prices. Since peaking in early 2016, the ratio has formed a broad declining channel (pink shaded area). Each swing lower has provided a tailwind for Gold prices, while each counter-swing higher has been a headwind.

in ...



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Insider Scoop

Macy's Receives Mixed Analyst Reaction After Q3 Earnings Beat, Sales Miss

Courtesy of Benzinga.

Related M Big Box Bonanza: Walmart Beats Most Estimates, But Brexit Could Steal Attention Mid-A...

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Members' Corner

NY Times: OPERATION INFEKTION

 

This is a three-part Opinion Video Series from NY Times about Russia’s meddling in the United States’ elections as part of its "decades-long campaign to tear the West apart." This is not fake news. Read more about the series here.

OPERATION INFEKTION

RUSSIAN DISINFORMATION: FROM COLD WAR TO KANYE

By Adam B. Ellick and Adam Westbrook

EPISODE 1

MEE...



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Chart School

Weekly Market Recap Nov 11, 2018

Courtesy of Blain.

This past week was saw another positive move up by bulls – especially in the Dow and S&P 500; the NASDAQ was not quite as enthusiastic.   Wednesday’s rally was on the legs of an election that was seen as market friendly or at least not as bad as it could have been.   Essentially – paying people a lot of money to get nothing done the next 2 years – woo hoo!

The market is interpreting Wedneday’s result as insuring that “no big things will get done,” in Washington between now and 2020, Craig Birk, chief investment officer at Personal Capital told MarketWatch. “The market appreciates the relative certainty of the slow legislative agenda.” he said.

“As President Trump plans his 2020 reelection campaign, a gridlocked Congress is unlik...



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Digital Currencies

Bitcoin's high energy consumption is a concern - but it may be a price worth paying

 

Bitcoin's high energy consumption is a concern – but it may be a price worth paying

Shutterstock

Courtesy of Steven Huckle, University of Sussex

Bitcoin recently turned ten years old. In that time, it has proved revolutionary because it ignores the need for modern money’s institutions to verify payments. Instead, Bitcoin relies on cryptographic techniques to prove identity and authenticity.

However, the price to pay for all of this innovation is a high carbon footprint, created by Bitc...



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ValueWalk

Vilas Fund Up 55% In Q3; 3Q18 Letter: A Bull Market In Bearish Forecasts

By Jacob Wolinsky. Originally published at ValueWalk.

The Vilas Fund, LP letter for the third quarter ended September 30, 2018; titled, “A Bull Market in Bearish Forecasts.”

Ever since the financial crisis, there has been a huge fascination with predictions of the next “big crash” right around the next corner. Whether it is Greece, Italy, Chinese debt, the “overvalued” stock market, the Shiller Ratio, Puerto Rico, underfunded pensions in Illinois and New Jersey, the Fed (both for QE a few years ago and now for removing QE), rising interest rates, Federal budget deficits, peaking profit margins, etc...



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Biotech

Gene-editing technique CRISPR identifies dangerous breast cancer mutations

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

 

Gene-editing technique CRISPR identifies dangerous breast cancer mutations

Breast cancer type 1 (BRCA1) is a human tumor suppressor gene, found in all humans. Its protein, also called by the synonym BRCA1, is responsible for repairing DNA. ibreakstock/Shutterstock.com

By Jay Shendure, University of Washington; Greg Findlay, ...



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Mapping The Market

Mistakes were Made. (And, Yes, by Me.)

Via Jean-Luc:

Famed investor reflecting on his mistakes:

Mistakes were Made. (And, Yes, by Me.)

One that stands out for me:

Instead of focusing on how value factors in general did in identifying attractive stocks, I rushed to proclaim price-to-sales the winner. That was, until it wasn’t. I guess there’s a reason for the proclamation “The king is dead, long live the king” when a monarchy changes hands. As we continued to update the book, price-to-sales was no longer the “best” single value factor, replaced by others, depending upon the time frames examined. I had also become a lot more sophisticated in my analysis—thanks to criticism of my earlier work—and realized that everything, including factors, moves in and out of favor, depending upon the market environment. I also realized...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

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

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

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.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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All About Trends

Mid-Day Update

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

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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About Phil:

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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