The Wall Street Journal broke one of the most memorable news stories of the year over the summer when it reported that former General Electric CEO Jeff Immelt – who bowed out in June amid intensifying pressure to revitalize the company’s long-suffering share price – would routinely use a "chase plane" when flying to foreign destinations - that is, a second completely empty jet would fly behind Immelt's aircraft.
A week after Thomas Peterrfy, the founder, Chairman and CEO of Interactive Brokers and one of the 'giants' of electronic trading in US financial markets warned that:
"the introduction of bitcoin futures into a clearing house could increase systemic risk."
And just days after the firm said its
"clients would be unable to short the bitcoin futures market because of the extreme volatility of bitcoin."
Content originally published at iBankCoin.com
This little pink sheeter ran up 20,000% because MUH Bitcoin, hitting a market cap of $12.6b, and now it's all unraveling under the hard realities of mathematics driven by greed.
Even down 65% for the day, on 11,000 shares traded, the market cap is still over $4 billion.
According to the most recent financials published with the SEC, the company had a whole $3 million in cash.
Authored by Christoph Gisiger via Finanz und Wirtschaft,
James Grant, Wall Street expert and editor of the renowned investment newsletter «Grant’s Interest Rate Observer», warns of the unseen consequences of super low interest rate and questions the extraordinary actions of the Swiss National Bank.
Nearly ten years after the financial crisis, extraordinary monetary policy has become the norm.
One month ago, we speculated that in order to pass the GOP tax plan, Congress would end up having to raise the proposed corporate tax rate from 20% to 25%, because as it stands now, there is simply not enough sources of funding.
In the end corp tax will be agreed upon at 25% starting 2018, as per the Goldman plan
— zerohedge (@zerohedge) November 9, 2017