Authored by John Rubino via DollarCollapse.com,
There’s a debate raging over what, exactly, bitcoin and the thousand or so other cryptocurrencies actually are. Some heavy-hitters are weighing in with strong, if not always coherent opinions:
Jamie Dimon calls bitcoin a ‘fraud’JPMorgan Chase CEO Jamie Dimon did not mince words when asked about the popularity of virtual currency bitcoin.
Ex-HSBC currency trader Mark Johnson, who was unwittingly captured on an audio recording saying "I think we got away with it," has just been convicted by a jury in New York of fraud for front-running a $3.5 billion transaction that netted his firm some $8 million in illicit profits. Per Bloomberg:
Former HSBC Holdings Plc currency trader Mark Johnson was found guilty of fraud for front-running a $3.5 billion client order, a victory for U.S. prosecutors as they seek to root out misconduct in global financial markets.
Just days after we reported that in the mad dash by virtually every American city to become Amazon's second headquarters, in which some such as New Jersey offered as much as $7 billion in state and city tax credits, today Amazon announced that that it has received 238 proposals from "cities and regions in 54 states, provinces, districts and territories around North America" who want to host the company's second headquarters, also known as HQ2.
Authored by Lance Roberts via RealInvestmentAdvice.com,
I genuinely admire Morgan Housel. I think he is a brilliant and talented writer. However, he sent out a tweet on Friday that really struck a chord with me.
After Friday's farcical face-ripping ramp back to recent highs (from a 10% plunge pre-market) after dismal earnings and outlook, it appears 'investors' took the weekend to actually read the report and transcripts...
Someone turn the bloody machines back on!!
Bloomberg reports that General Electric’s weak third-quarter results and outlook prompted multiple rating downgrades on Monday, with most analysts warning of an impending dividend cut. However, bullish analysts note that there doesn’t seem to be much more that bears can "fixate on from here."