Posts Tagged ‘white collar crimes’

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

It's almost as if the rally made sense

 

Image via Pixabay

It’s almost as if the rally made sense

Courtesy of 

Apple is the largest corporation on earth and, in the last quarter, their profits doubled versus the same quarter during the prior year. As my partner Barry likes to say, “Stop and think about it!”

Indeed, that’s f***ing bananas....



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Zero Hedge

Sydney Lockdown Extended For At Least A Month Stoking Fears Of "Double-Dip" Recession

Courtesy of ZeroHedge View original post here.

Sydney has been locked down for nearly a month now, and it looks like its residents and business owners will need to hold on for just a little bit longer, because the lockdown is being extended once again.

While restrictions have been eased in Melbourne and Adelaide - practically all of Australia's state capitals have been locked down to combat the delta variant, which has infected...only a few hundreds people across the entire country - authorities in New South Wales officially extended the lockdown in Greater Sydney for at le...



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Biotech/COVID-19

What is a breakthrough infection? 6 questions answered about catching COVID-19 after vaccination

 

What is a breakthrough infection? 6 questions answered about catching COVID-19 after vaccination

Vaccines don’t ward off every single infection but they do massively lower the risk. Education Images/Universal Images Group via Getty Images

Courtesy of Sanjay Mishra, Vanderbilt University

If you’ve been fully vaccinated against COVID-19, maybe you figured you no longer need to worry about contracting the coronavirus. But along with the rising number of new COVID-19 cases globally and growi...



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Digital Currencies

Is Amazon About To Start Accepting Crypto?

Courtesy of ZeroHedge

For the first time ever, Amazon has shown itself to be interested in crypto with a new major hire within its payments-focused team.

Posted on Thursday, the new role seeks an experienced product leader with expertise in blockchain, central bank digital currencies and cryptocurrencies to “develop the case for the capabilities which should be developed” and drive overall product vision.

The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap

The Amazon Payment Acceptance & Experie...



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Chart School

Investing with Channels - Review

Courtesy of Read the Ticker

The US has a lot of debt, to sell more units of the debt to non US buyers the FED and Treasury must get the unit price of the debt down.



This video assumes a 'risk on' bullish bias into the Nov 2022 US mid terms. The bias assumes a US dollar trending down from it current high price of $93 on the DXY.






 


 




Chart 1 - US Dollar Channels




 

Click for popup. Clear your browser cache if image is not showing.


 



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Politics

New York defines illegal firearms use as a 'public nuisance' in bid to pierce gun industry's powerful liability shield

 

New York defines illegal firearms use as a ‘public nuisance’ in bid to pierce gun industry’s powerful liability shield

Illegal gun use is now a public nuisance in New York. AP Photo/Bebeto Matthews

Courtesy of Timothy D. Lytton, Georgia State University

Could calling the illegal use of firearms a “public nuisance” bring an end to the gun industry’s immunity from civil lawsuits? ...



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Promotions

Free Webinar Wednesday: July 7, 1:00 pm EST

 

Don't miss Phil's Webinar on July 7 at 1:00 pm EST. It's FREE and open to all who wish to join.

Click here: 

https://attendee.gotowebinar.com/register/6552545459443187211

Join us to learn Phil's trading tactics and strategies in real-time!

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Kimble Charting Solutions

Crude Oil Cleared For Blast Off On This Dual Breakout?

Courtesy of Chris Kimble

Is Crude Oil about to blast off and hit much higher prices? It might be worth being aware of what could be taking place this month in this important commodity!

Crude Oil has created lower highs over the past 13-years, since peaking back in 2008, along line (1).

It created a “Double Top at (2), then it proceeded to decline more than 60% in four months.

The countertrend rally in Crude Oil has it attempting to break above its 13-year falling resistance as well as its double top at (3).

A successful breakout at (3) would suggest Crude Oil is about to mo...



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ValueWalk

Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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