Is the stock market going to tank?

[liv2ski]

^^^^But now he is in the fiery pit getting pineapples shoved up his ass on a hourly basis. Fuck all those guys

[4matic]

^^^^But now he is in the fiery pit getting pineapples shoved up his ass on a hourly basis. Fuck all those guys

Looks like they're selling all his gold.

[St. Jerry]

One of the greatest traders and a market visionary:

Financier Marc Rich dies in Switzerland



GENEVA (AP) — He was a wheeler-dealer pardoned by another consummate dealmaker, a working-class Jewish boy who left Belgium to escape the Nazis and rose to become the billionaire "King of Commodities."

Marc Rich's connections to the rich and powerful not only made him fabulously wealthy but when he was indicted for fraud, racketeering and tax evasion on a grand scale, they helped secure him a pardon from Bill Clinton, hours before the U.S. president left office.

This guy was a pure scumbag. RIP

[Hugh Conway]

One of the greatest traders and a market visionary:

yeah man, it takes "vision" to bribe your way to good contracts in places you aren't legally allowed to be at all and befriend all manner of murderous scumbags

[4matic]

This guy was a pure scumbag. RIP

Capitalism is dirty. Hate the game, not the players.

[4matic]

yeah man, it takes "vision" to bribe your way to good contracts in places you aren't legally allowed to be at all and befriend all manner of murderous scumbags

He was doing he same thing as the oil companies and agreed to pay all fines and penalties, just like the oil companies.

[Hugh Conway]

Capitalism is dirty. Hate the game, not the players.

What's "capitalist" about making deals with 3rd world dictators who steal from everyone and anyone? Bribing them so they can prop up their power and prolong misery for their populace? "just following orders" is always a bullshit excuse.

[4matic]

What's "capitalist" about making deals with 3rd world dictators who steal from everyone and anyone?

Really? Like just about every company dealing in China or Russia.

[Hugh Conway]

Really? Like just about every company dealing in China or Russia.

I don't really see bribery and corruption as particularly "free market" nor doing business with state chosen winners as "capitalist". it may/may not be effective, but it's not capitalist. He certainly was successful and transformative (Switzerland wouldn't be the home of black box moneymaking shitbags without him - and the perspicacious officials who smoothed the way with papers, much less the commodities supercycle, blah blah blah) but mostly he's a rich douchebag.

[4matic]

In 1980 and 1981, two Swiss companies associated with Marc Rich engaged in a series of linked transactions involving foreign and domestic oil. These transactions, which also involved major U.S. oil companies, occurred during the period when the United States was still regulating energy prices and were not unlike many other transactions widely engaged in during this period. In accordance with the law and following the advice of competent counsel, payments attributable to the offshore aspects of the linked transactions were properly treated as exempt from U.S. taxes as well as U.S. energy price controls, which were shortly thereafter repealed.

The U.S. Attorney (Rudolf Giuliani) investigating the matter ambitiously turned the proper reporting treatment of these complex corporate transactions – essentially a routine tax allocation dispute – into a highly politicized criminal tax and energy fraud case alleging that domestic oil revenues were improperly diverted offshore. None of the major U.S. oil producers, however, which actually were the ones who insisted on linking their domestic oil sales with offshore foreign oil transactions, was ever criminally prosecuted.

[Benny Profane]

What's "capitalist" about making deals with 3rd world dictators who steal from everyone and anyone? Bribing them so they can prop up their power and prolong misery for their populace? "just following orders" is always a bullshit excuse.

Jesus, how the fuck do you think we related to South America for a century? Let's no even mention most of OPEC.

[Hugh Conway]

Jesus, how the fuck do you think we related to South America for a century? Let's no even mention most of OPEC.

That's Central America, Benny. I realize everything below New Jersey is terra incognita to you though.

[Benny Profane]

That's Central America, Benny. I realize everything below New Jersey is terra incognita to you though.

I was going to say South of the Border, but, I was sure you'd have some droll little thing to say through your teeth on that one.

[Hugh Conway]

Fuck YEAH BUDDIES!

I'm all in for the Winklevoss Bitcoin Trust
http://www.sec.gov/Archives/edgar/da...d562329ds1.htm

[splat]

No matter how you paint it, the man wants his cut and, ultimately, control.

The United States last month launched a money laundering probe against a digital currency operator, Costa Rica-based Liberty Reserve, which allegedly handled huge amounts of money outside the control of national governments.

http://www.google.com/hostednews/afp...499adb11ace.01

[LeeLau]

Fuck YEAH BUDDIES!

I'm all in for the Winklevoss Bitcoin Trust
http://www.sec.gov/Archives/edgar/da...d562329ds1.htm

Can you imagine writing the risk factors for that one

[JimmyCarter]

Can you imagine writing the risk factors for that one

So that's how they're going to monetize their 'money'.

Risks Related to Our Business

1. We're still not really sure how this bitcoin thing works.
2. No seriously, we don't know what a bitcoin really is.
3. Neither does anyone else, except the guy who sold them to us in the first place.
4. We're not really sure who that guy was.
5. It's not like any of this matters anyway - suck it Zuckerberg!

[Hugh Conway]

truth in the parody of a "Digital Math-Based Asset" and "Digital Math-Based Asset systems"

[liv2ski]

I am feeling Hilters pain on shorting Tesla motors: http://www.youtube.com/watch?v=HkvYvk8vxuw

[Mazderati]

Give it time.

[4matic]

VXX making a big move and IWM down 2.4% so far today. Trend change the week before September is not unusual.

[Danno]

So, with the upcoming debt ceiling issue -- and possible "default" -- looming, what would be a good place to temporarily store money that is currently in the market?

I am not one who tries to play the "market timing" game, I invest in index funds and forget it, but this seems like it might be an extraordinary circumstance, where we could have a short term "crash" and I could get out and back in without risk of hurting myself and with possible good gains. Note that my goal is not to make money, but rather to protect my money in the short term, at minimal risk; if it also results in making money, that's a bonus. Does this seem sound? I am open to being convinced to just leaving my money alone.

If this does seem sound, what type of fund is best? Are usual "safe" funds like bond funds not safe in this type of environment? Money market funds?

ETA: I am only looking at USAA funds.

[Hugh Conway]

So, with the upcoming debt ceiling issue -- and possible "default" -- looming, what would be a good place to temporarily store money that is currently in the market?

Boulder Real Estate. Fucking Duh.

[freeheelwilly]

If you don't need the money short term than why worry about it? Ride it out and buy some bargain stocks along the way.

[Benny Profane]

This thing is going to bounce like a super ball if Boner caves and brings a vote. If.