Showing posts from September, 2013

RE: LIBOR Infographic: A step-by-step on what is the Libor scandal

This is a big one, and it is all about the LIBOR scandal....Just synced a 10mil loan for a client, and LIBOR was of course used. It's a massive basis for the financial industry. LIBOR plus is used in everything. This is serious stuff, especially when you have naughty bankers meddling and conspiring against the system. 
This was a very serious matter. 
To quote from HM Customs Office:
"For example, suppose that a company takes out a loan at a rate of interest equal to, say, LIBOR plus 0.1%, and suppose that LIBOR is 4.1% at the start of the loan. The rate is to be reset each quarter by reference to current 3-month LIBOR. Clearly the company runs the risk of increased funding costs if commercial interest rates rise. The company may want to ensure that its funding costs do not rise above a certain level, or it may want to pay in effect a fixed rate of interest. Suppose on the other hand the company borrows at a fixed rate of 4.5% for two years. If LIBOR rises to 4.5% or above, it wi…

On Monday General Solicitation Opens Up

From Pando Daily:

"On Monday the JOBS Act finally goes into effect, and startups as well as venture capital and private equity funds can advertise their fundraising efforts to the world. However, they still can’t sell stock to the world. The onus is on the companies to prove that their investors are “sophisticated.” They are simply allowed to talk publicly about it now.

With the new rules, startups must file an advanced Form D with the SEC fifteen days before they plan to solicit investors. That is a challenge for many startups, because the forms are very detailed and these companies are often so early stage that they can’t answer all the questions. If they have to update anything, they must re-file with the SEC. And every time they so much as publicly talk about fundraising, they have to include the same sort of legal jargon that public company CEOs are required to include. If mess up, they’ll be placed in a penalty box of sorts, where they can’t raise new funds for a full year.&q…

Measuring What Matters (GDP & The Good Life)

To quote the Economist: Man does not live by GDP alone.

And new research is turning up all around the world suggesting that statistically evaluating other factors leads to a better rounded measurement of a citizens life - other than the standard GDP per person. 

"The Commission on the measurement of economic performance and social progress has been created at the beginning of 2008 on French government's initiative. Increasing concerns have been raised since a long time about the adequacy of current measures of economic performance, in particular those based on GDP figures. Moreover, there are broader concerns about the relevance of these figures as measures of societal well-being, as well as measures of economic, environmental, and social sustainability.

Reflecting these concerns, President Sarkozy has decided to create this Commission, to look at the entire range of issues. Its aim was to identify the limits of GDP as an indicator of economic performance and social progress, to…

Vice President vows Savannah dredging will happen ‘come hell or high water’

Here is a bit of news on the port of Savannah.
Finally we're talking about it. This needs to happen, and I do not find it odd that Biden is supporting this. He is gearing up for a presidential race.

Regardless, this is a good thing. The port needs to be developed, and with that will bring more industry and jobs, stevedoring and warehousing. Honestly, shouldn't shipping come to Savannah verses Miami or Baltimore? Hopefully this will bring incentive to build a high speed rail between Atlanta and Savannah. Maybe I should evernote some notes about forming a shipping company...


By Greg Bluestein

The Atlanta Journal-Constitution


Vice President Joe Biden gave his unequivocal support Monday for the $662 million project to dredge Savannah’s port, saying that the deepening would happen “come hell or high water.”

“What are we doing? We’re arguing about whether or not to deepen this port?” said Biden. “It’s time we get moving. I’m sick of this. Folks, this isn’t a par…

Remarks With Lithuanian Foreign Minister Linas Linkvicius Following Their Meeting

Why so many (inaudibles)?____ John KerrySecretary of StateMinistry of Foreign AffairsVilnius, Lithuania September 7, 201 FOREIGN MINISTER LINKEVICIUS: We really appreciate very much (inaudible) partnership with United States, and recently to Vilnius (inaudible), and now visit of Secretary to Vilnius, it’s really proved that we (inaudible) on very good foundation and we will continue. We share the same values and democratic principles, and we have the same issues. So we try to do our parts in the agenda (inaudible) in nuclear nonproliferation, in energy security, cyber security, all issues where we really can continue contribute, not maybe with big quantities, but we will try to do that (inaudible).
Also appreciate very much support of Secretary for Eastern Partnership Program, which is really crucial, and (inaudible) November we will be hosting here the presidency summit of Eastern Partnership. Not every country happy with that choice, choice for our partners to choose this European path,…

In Support of Bitcoins & Altcoins

Currency is for commerce and profit

In "De Moneta by Nicholas Oresme" constructive arguments were made at how currency is ultimately for the people. The text was written during the days of physical debasement, and that at the time was considered immoral. 

That brings us to the issues of today. Now we have inflation and fiat money, and a slew of markets in which to invest in, all regulated to a degree - and regulation should regulate to a degree - but yet there is some impeding intervention going on around digital currencies.  

Why are we going after alternative and secondary currencies when we should be going after the individuals and banks who designed investments that devalued their clients savings from hidden fee's?  Moreover, how on earth is this notion ultimately unique? Look at ETF's and mortgage backed securities. You could create a fund that trades bloodstock and take it public - how screwy is that? We could have a weed fund, that holds bushels of weed and tak…