What investment would have produced 4,414% Gain since 1932?


Armstrong Economics Blog/Traders Re-Posted Dec 13, 2022 by Martin Armstrong

Imagine if you could have bought a loaf of bread in 1932 for 7 cents. That 7 cents would be $3.09 today would be a gain of 4,414%. Of course, you could not even freeze it that long. That is also the problem with many who sell investments. Gold was $20.67 in 1932 so that has been a gain of 8990%. On the other hand, the Dow Jones Industrials bottomed in 1932 at 40.56. That has been a gain of 83,992%.

In 1955, the Dreyfus Fund was established by a New York stockbroker named Jack J. Dreyfus, Jr. (1913–2009)  It was Dreyfus who acquired the open-end Nesbett Fund, which had $2.3 million in assets.  This ambitious stockbroker renamed the fund bestowing his own family name upon it which would become a household word in the decades ahead.  By year end, the assets grew to $5.6 million as 1955 drew to a close.  The best decision Dreyfus made was to buy 400 shares of an unlisted stock.  That “sleeper” stock was Polaroid which he bought for $31 7/8.  Dreyfus would watch this single purchase rise to $6,372 per share – not counting splits – in the years ahead.  This outstanding performance almost single-handedly led to the mutual fund boom in the 1960s.

Sometimes a new technology paves the way for something that changes the game.

Sam Bankman-Fried Charged in New York & Arrested in the Bahamas


Armstrong Economics Blog/Rule of Law Re-Posted Dec 12, 2022 by Martin Armstrong

Sam Bankman-Fried of cryptocurrency giant FTX and trading firm Alameda Research, has been arrested in the Bahamas on criminal charges, the Bahamas Attorney General’s Office announced Monday. The arrest “followed receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition,” the office said.

In a statement, U.S. Attorney Damian Williams said: “Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. government, based on a sealed indictment filed by the United States Attorney’s Office for the Southern District of New York. We expect to move to unseal the indictment in the morning and will have more to say at that time.”

He will be held at MCC, the same dungeon in which Jeffrey Epstein supposedly committed suicide. WIth his connections with all the Democrats, this is going to be interesting to see if he too suddenly commits suicide.

Day Before Congressional Testimony, Sam Bankman-Fried Arrested in the Bahamas Awaiting Extradition Request from U.S. DOJ


Posted originally on the CTH on December 12, 2022 | Sundance

The timing is transparent, given all of the political donations organized by FTX Cryptocurrency CEO Sam Bankman-Fried for politicians, mostly Democrats, in office.

On the day before he was scheduled to give testimony to congress, a testimony likely to be entertaining with representatives asking specific questions about political contributions by the known fraud MBS to other specific members of congress, the cryptocurrency executive is arrested in the Bahamas.

(Via Daily Mail) – Sam Bankman-Fried, the disgraced former CEO of FTX, has been arrested. 

The crypto billionaire, 30, was arrested in The Bahamas – where he has been hiding out since his $32 billion empire came crashing down last month – and he is now facing criminal charges in the US.

American prosecutors have filed the unspecified charges against the FTX founder, and are ‘likely to request his extradition.’  

In a statement, Bahamian Prime Minister Philip Davis said: ‘The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law. 

‘While the United States is pursuing criminal charges against SBF individually, The Bahamas will continue its own regulatory and criminal investigations into the collapse of FTX, with the continued cooperation of its law enforcement and regulatory partners in the United States and elsewhere.’  (read more)

Sunday Talks, California Democrat Rep Ro Khanna Discusses Twitter-Govt Censorship, Future Hearings and TikTok


Posted originally on the CTH on December 11, 2022 | Sundance 

When various doctors and professionals in the healthcare industry were kicked off Twitter, Facebook, YouTube and social media platforms for holding a contrary view of the COVID-19 mitigation efforts, their voices found a way to alternate platforms including TikTok.  At the heart of the government argument about TikTock as a national security threat, you will find this dynamic.

The claims of data insecurity as a reason for government action against TikTok is a false justification.  The reason the U.S. govt is defining TikTok as a national security threat is not because a Chinese firm controls it, the threat is because the U.S. government does not control it.  Thus, DHS involvement in Twitter, Facebook, Instagram, Google, Apple, Microsoft and more takes on a more accurate perspective.  TikTok is not under DHS control, therefore TikTok’s ability to transmit information without DHS filter controls is a threat.

Bread and circuses.  In this interview with California Congressman Ro Khanna, Maria Bartiromo notes he was one of the only Democrats in congress who wrote a warning to Twitter about the censorship issue.  However, even then, a key sentence in the letter from Khanna to Yoel Roth is ignored.  He’s no hero. WATCH:

The DHS Portal – […] discussions have ranged from the scale and scope of government intervention in online discourse to the mechanics of streamlining takedown requests for false or intentionally misleading information.

Platforms have got to get comfortable with gov’tIt’s really interesting how hesitant they remain,” Microsoft executive Matt Masterson, a former DHS official, texted Jen Easterly, a DHS director, in February. (link)

It’s not just the First amendment being compromised by this collaboration, it’s also the Fourth Amendment against unwarranted searches of private papers (communication).