The 1943 Copper Penny a Flop? Or just Over Hype by Heritage Auctions?


QUESTION: I read that the Heritage auction of the penny they said would bring $1.7 million was a flop. Any indication as to why? Or is it just the firm trying to pawn something for big bucks?

HK

ANSWER: I have no idea why Heritage would have claimed the coin would bring $1.7 million. It is not that rare. There are about 40 to 45 known 1943 copper cents from the Philadelphia Mint. The general assumption is that they were struck by accident when there were some copper blank planchets still remaining in the press hopper when production began on the new steel pennies.

Now as far as sales go, there was a 1943 copper cent which was first offered for sale back in 1958, which sold for more than $40,000, or so it was claimed. Subsequently, there was one sold for only $10,000 at an ANA convention in 1981. The highest amount ever paid for this error previously was $82,500 back in 1996.

There was only one copper 1943 penny known from the Denver Mint which did sell they claim for $1.7 million by Legend Numismatics of Lincroft, New Jersey. I would not guarantee that price personally. US coins tend to get really hyped. This unique coin, not publicly known to exist until 1979, was certified PCGS MS64BN. If Heritage was claiming their penny should bring $1.7 million which was from the far more common hoard of Philadelphia, I really question such expertise. The Heritage example sold for only $204,000, which is a modest advance over the last sale of $82,500 back in 1996.

The culture in American coins is strikingly different. American collectors seem to prize errors. A brockage is an error coin where one side is normal, but the other side instead of the reverse displays the obverse again, but incuse or in a negative mirror-like form. Brockage errors are caused when an already minted coin sticks to the coin die and impresses onto another blank pressing a mirror image of the other coin into the blank.

Brockage errors coins are rare. However, they do not bring significant premiums. A nice Augustus(27BC-14AD) denarius may bring $1,000+ whereas the Brokage will bring about $500 as illustrated above. Here is an extremely rare official Roman die of Emperor Tiberius (14-37AD) with precisely this problem of a silver denarius stuck to the reverse die.

This die of Tiberius is UNIQUE and was discarded because of the brokage error coins it would have produced which would have appeared like the Augustus denarius illustrated above. There are only about 12 official Roman dies that have survived.

Here is Another genuine Roman die of an extremely rare Emperor Gordian I (238AD) who reigned for only 21 days. Obviously, this die was discarded because he did not last in office very long.

There is a completely different culture outside of American coins. Such an error would never bring such premiums. In ancient coins, the premiums attained are for high quality.

The Coming Launch of Socrates


QUESTION: Marty,
Back in 2015 when they closed the Chicago MERC after 167 years, you did a piece about how flashing screens do not provide the same “feel” as tape watching and floor trading. You also mentioned in that piece that “after Socrates, you will recreate something you always wanted to do” in relation to bringing “feel” back into trading.
My question is; given all the directions you are being pulled- is this still something you aspire to undertake?
I grew up tape watching, and despise blinking screens…it’s a lost art and would welcome anything you might undertake in this area.
Rw

ANSWER: Absolutely. We are getting ready for the first launch very soon. The intention is to expand the system to intraday. We are in negotiations with a data-provider to make the system live intraday with reversals and timing on an hourly basis. Trust me. It has been this initial launch that has been delayed by banks changing rules causing us to have to re-write the payment systems three times. Then we have completely different rules for outside North America so it required then setting up another whole new payment system. Then we have been having to set up yet a third for China. This has all been driven by this Hunt for Taxes.

It will be that intraday version that will be sound. Also in Phase-Two of our launch, we will be looking at providing a download version that will link back into our system so you can just talk to it and it will answer. We just cannot do that level of sophistication over the internet.

Why Bright Scientists Still Stumble in Darkness


Published on Jan 7, 2019

SUBSCRIBED 120K

As the new year turns, scientists offer a new marvel from the limit of the solar system. But the limits of human wisdom constrain them as well. Why do we assume that our great achievements, guarantee specific future achievements…like controllable artificial intelligence? Right Angle is a production of Members who contribute so they can share these conversations with the world. Become a Member today at http://BillWhittle.space/subscribe

Fake Science, Exposed by Sharyl Attkisson.


This investigative report may lead you to question much of what you hear and read about scientific and medical studies. It’s a cautionary note issued by respected industry leaders who say unseen interests are exerting enormous control over research and what is– or isn’t– published. Their startling claim: that a large percentage of articles in prestigious medical journals are simply not to be believed. We begin with Dr. Marcia Angell of Harvard, a pioneer in the medical journal field.

Dr. Marcia Angell: I think physicians and the public have come to believe that drugs are much better and much safer than they really are.

What makes Dr. Marcia Angell’s skepticism so remarkable is where she places much of the blame: on researchers and medical journals. That includes the prestigious New England Journal of Medicine, where she worked for 20 years and was its first female Editor in Chief from 1999 to 2000.

Sharyl: Most people probably think an article is in a journal, probably written at a university based on independent study, and that’s that.

Angell: It used to be that way, as you describe it, pretty simple, and it began to change as the pharmaceutical industry became richer, more powerful, more influential, and began to take over the sponsorship of probably most clinical research.

http://fullmeasure.news/news/cover-story/fake-science-08-06-2017

Product Review on PC Matic


While watching Fox News a while back I started seeing ads for PC Matic now and then and since I was not happy with the existing system I had and the subscription was over in December 2018 I decided to check out PC Matic in November.  I found a lot of good reviews and the price was right so I decided to make the switch.  Just for reference I have been on PC’s since  the introduction of the IBM PC AT back in the early 80’s way before windows when everything was command line.  So I have used over the years just about every protection package that there was.  PC Matic was the easiest to install by far, there was no system I have ever used that was as easy to install as PC Matic’s product lines, and the service they provide is top of the line!

Here is their website … check them out!

http://www.pcpitstop.com/

Plunge Protection Myths = Keynesian Economic Myths


QUESTION: What about what China did by buying stocks a few years ago to stop the hang sang from dropping

ANSWER: Do not confuse attempts to support a market from actually being able to do so. This is the same as Keynesian economics that government could prevent recessions. Larry Summers admitted the government cannot even forecast such events. Not only during the Great Depression did companies jump in to buy their shares during the crash to try to prevent the decline. Most of the companies that took that action actually failed for they bought the stock back trying to hold the price and lost needed cash reserves. They could not sell stock again nor could the borrow.

During the collapse of the Nikkei after 1989, companies held believing that the government would support the market. When they realized the government could not then the government encouraged us to bail out the Japanese corporations. We helped well over 300 public companies issuing a note to buy their portfolios at their cost with 10-year payouts and each note had to be approved by the Japanese government individually. If the governments were able to actually prevent declines, then they would. But nobody can do that for the size of the public at large far outweighs any institution, group of institutions, or banks.

People would rather believe in conspiracy theories than simply look at the reality. Attempts to manipulate markets ALWAYS fail because the majority is far greater than any minority. The trend is made by the MAJORITY. A panic sell-off like the Crash of 1987 took place BECAUSE there was no bid – not that there was a massive short position. Scare the MAJORITY and they then try to sell, you find no bid and that is how a flash crash unfolds. This is why outlawing short positions is destructive for the only person with the courage to try to catch a falling knife is the one who is taking profit – not initiating a long position.

The Myth of the Plunge Protection Team


COMMENT: It looks like the Plunge Protection Team had a field day with the 1,000 rally in the Dow. Back in the 70s I read a small article near the back page of the WSJ that said that the CIA was using two small obscure banks in the Midwest to trade futures. The way they do it is to buy the futures and force the floor traders to stop selling. Then they pile it on and force the shorts to cover.

CM

ANSWER: That is really impossible. I have NEVER found a market that has EVER defied our model. The market bottomed precisely when it should have. Our Cyclical Array pinpointed the day well in advance. That proves there was nothing unusual. Last Friday the 21st, I wrote on the Private Blog: “We do have another Weekly Bearish Reversal at 22739 and a closing below that could warn of a Cycle Inversion meaning down into new week bottoming perhaps on the 26th and then rally into the following week for year-end and then turn back down into January.”

If what you are saying is true, then the government would never collapse and they are 100% in control of everything. That is just not the case. You are attributing power to them that they believe they have. However, if they had such power, then taxes would never rise for they are 100% in control and nothing would happen. Larry Summers, the father of negative interest rates, admitted in a Bloomberg interview that those in power can NEVER forecast a decline because it is a complex system.

I wrote on the Private Blog on December 24th: “The likelihood of lower lows into the 26th are good. But this week remains as a Panic Cycle so we can then see a whipsaw back up into the end of the week. Primary support still lies at the 21600 and 21450 level followed by 20002.”

Then on the day of the low, 26th of December, I posted on the Private Blog at 3AM for the European Open: “Often the bulk of a decline will unfold the day BEFORE the market closes. This is typically as natural human response of the fear of the unknown after the market reopens.”

 

 

I just do not see ANYTHING in the market behavior or patterns that would indicate something abnormal. The real explanation is just that all the selling took place on Monday as people feared it would collapse further on the 26th after the market opened. That has been the pattern for more than 100 years – panic before a close of the market for fear of the unknown. Sorry, great story about the Plunge Protection Team. A similar theory prevailed in Japan that the government would NEVERallow the Nikkei to fall. It did, and that belief led to a 19-year depression in share market price, but 26-year economic depression which did not begin to shift trend until 2015.75.

There have been attempts to create a Plunge Protection Team before. The banks got together to try to save the market back in October 1929. Here is the Los Angeles Times from October 26th, 1929 talking about the Stabilizing Forces to save the market. They failed to prevent the Great Depression.

Nobody can step in front of a falling market and survive. Nevertheless, despite the continued failure of such efforts, this myth is always spun. Anyone who believes that such a Plunge Protection Team can even survive never bothers to look at history.

Why Does the Fed Need to Raise Rates?


QUESTION: Hello Mr Armstrong
I would like first to thank u for all the good information u give to us
i have just a question : why do u write the fed need to increase rates to save the us pensionneers
Not realy clear for me ( and maybe a lot of people)
Thanks again and i wish u a wonderful 2019 year !
regards
T

ANSWER: The entire problem of lowering interest rates to “stimulate” the economy demonstrates that central banks cannot really manage anything. This theory is based upon the idea that if rates are cheap then you will borrow. They fail to even understand HOW the economy functions. The stock market and the economy has NEVER peaked with the same level of interest rates TWICE in history. If you BELIEVE the market will double you will pay 20% interest for a year. If you do not BELIEVE the market will rise at all, you will not borrow at 1%.

Pension funds were based upon the idea that at 8% you double your money in less than 10 years compounded. The system of a pension cannot function at interest rates of 1-3%. This is why states are raising taxes and going broke. They have to make up the losses on investments. Then throw in the corruption of governments. They directed pensions to be “conservative” and thus must own typically more than 50% government bonds up to 85% generally and some are at 100% like Social Security. The lower rates on government bonds, the greater the losses and thus taxes must be raised to compensate for state pensions.

Then, so many funds ran into Emerging Markets to try to compensate for the losses on government bond holdings. Spanish banks ran into Turkish debt which they assumed would become a member of the Eurozone. Turkey was one of the first members of the Council of Europe in 1949, and it became an associate member of the EEC in 1963, joined the EU Customs Union in 1995 and started accession negotiations with the European Union in 2005. However, ever since Erdogan, all negotiations with Turkey to join the EU came to an end in 2017.

Therefore, the Fed realizes that the next crisis is a pension crisis and they need to raise rates to help try to bail out the pension funds. They will not be able to raise the rates fast enough to avoid the crisis coming very rapidly which will contribute to raising tax rates and further suppressing economic growth into the future

Why do Cycles Work?


QUESTION: Mr. Armstrong; Your analysis is really remarkable. When the Dow was making new highs in October you said it was not breaking out. Then you said it would correct to retest the monthly support. You even warned that the bulk of the decline was always before the holiday as fears would grow for what would happen after the market reopened. You always get the highs and you even named the day of the low this week the week before. How can your arrays do this? I know that they do. My question is have you put any effort into discovering why cycles work in the first place?

HD

ANSWER: That is a question I get often and it seems to me to be up there with is there God and what is the meaning of life? All I can say is the foundation of EVERYTHING is a cycle. Here is how sound travels known as the Doppler effect.

Sunlight also travels in waves. Change the frequency and you get a different effect. There is a cycle to absolutely everything around us. The Arrays are composed of a correlation of 72 individual models. Then there is a global correlation to the frequencies of all other markets. So there is not a single cycle that you can reverse-engineer from an array. It just does not work that way. We simply do cycles differently than most people in the cyclical analysis arena.

So why do they work? Perhaps that is just the key to the universe itself. The earth travels around the universe and reaches the same spot once every 25,800 years. We also are born, we live, and then we die – the cycle of life. Then at the core of everything lies the fractal design within nature. It is more than just a Mandelbrot Set. We have children who are copies our ourselves taking bits of both parent’s DNA. That is the process of cyclical reproduction by self-referral.

Then there is the Lorenz Stange Attractor which was the fascinating cyclical behavior of weather systems, which of course are ignored by the Global Warming people. In effect, they are no different from the people who executed others who dared to say the earth was round instead of flat.

Trump v the Federal Reserve


QUESTION: Mr. Armstrong; A spectacular call. You gave the day and the market bottomed within 100 points of your number. You always nail it. I find it curious how they blamed Trump and the Fed. Can Trump fire the head of the Fed? I really think he seriously needs to attend your WEC. He would have seen this move coming.

Congrats!

FG

ANSWER: No. President Trump’s comments about firing Federal Reserve Chairman Jerome Powell are really off the wall. The problem is he has the classic TV talking heads view that stocks will crash with higher interest rates. Trump’s frustration with the central bank chief intensified following the interest-rate increase and months of stock-market losses. He is oblivious to the real crisis which is the low-interest rates are destroying the pension funds.

Meanwhile, the media blames Trump for his tweets and the talking heads attribute the decline to interest rates. Powell cannot publicly state why rates have to rise or he would create a real debt panic. Trump is clueless as is Capitol Hill with the monumental crisis in global debt.

For now, the news will bash the stocks when down, and when investors/traders see there can be no flight to bonds as quality, the real panic will begin. I wish I could reverse this mess, but reality states Trump’s handlers are rooting for the Deep State and would never let me near him.

The Democrats want the stocks to crash for they can blame Trump and try to win the losers to vote for their team. The shame here is this is not about running the nation or the economy to benefit all, it is just about winning the 2020 election. Since the ECM turns in January 2020 rather than the elections in November 2020, this is indicating that we may have a psychological shift prior to the elections.