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from FT: Apple will avoid a potential tax bill of up to $9bn by using the proceeds from its $17bn blockbuster bond issue to pay shareholders rather than bringing back cash from abroad. The technology group would have paid as much as 35 per cent in tax to bring that amount of cash back into the US, according to lawyers and accountants. READ MORE CHAPEL HILL, N.C. (MarketWatch) — Investors should strongly consider cutting their stock exposure this coming May Day and parking the proceeds in cash until Halloween. That advice comes courtesy of a famous piece of Wall Street folklore that is known by the adage “sell in May and go away.” Unlike most of the other stories investors tell, however, the historical evidence in favor of this one is surprisingly strong. [...] British Government Begins Stealing Its Peoples’ Bank Deposits Ahead Of The Global Financial CollapseIt happened before and it is starting again. Government confiscating (stealing) the people’s life savings. Just like in 1929 the British government began its theft of the people’s life savings just before the Great Depression. After an inflationary run-up in prices and asset values, the stock market crashed in 1929, and the economy soon went with the crash. This time the British government is disguising its outright theft by claiming [...] Under Fed Chairman Ben Bernanke, the Fed has been the great enabler of Washington’s fiscal excesses of the past few years. The Fed’s quantitative easing blurs the line between fiscal and monetary policies. The Fed may still be politically independent, but fiscal policy has become very dependent on the willingness of the Fed to purchase lots of government securities. A consolidated statement of the US Treasury and the Fed would show [...] Today its reported that a Grantham man Andrew Berridge who sexually attacked a teenage girl received a 6 month prison sentence despite having previous form and he will only have to do half his time. http://www.thisislincolnshire.co.uk/…ail/story.html Yet Recently a couple were jailed for 3 years for farming cannabis and using the proceeds to fund charitable work in Africa. http://www.thisislincolnshire.co.uk/…ail/story.html __________________ From The DIV-Net: A dividend can actually be a huge red flag depending on where the company gets the money for it… How does your favorite dividend-paying company get the money for those annual or quarterly payments? Have you seen the statement of cash flows and income statement? Did you bother to dig deep to learn as much as you can about the companies that you are investing in? You should take the [...] UNBELIEVABLE: REVENGE of the American Indians? – I can’t believe this… Loans at 89.68 to 342.86% APRWho the fuck would do this??!??!?! Saw an ad for this on TV and just could not believe it… had to check out their website…. nope it is for real. Look at this crap $10,000 Loan @ 89.68% APR with 84 payments of $743.49 that is $62,453.16 in payments on $10,000 it gets better. For a $500 loan it is 342.86% APR…. yup 12 payments at $150.72 for a $500 loan. ahahahah you pay $1808.64 [...] “Wealth management products” in China – long on promised returns, short on details – are showing cracks, and given the mammoth size of the industry ($3.5T may be issued this year), it could have ramifications for the banking system and the global economy. “This is not fundamentally different from a Ponzi scheme,” says BAML’s David Cui. From Reuters: … “Some banks have been using new (wealth-management product) proceeds to cover losses from previous products [...] (Reuters) – An owner of Absolute Poker, one of the three largest Internet poker companies, was sentenced to 14 months in prison on Monday after admitting to deceiving banks over the processing of gambling proceeds. Brent Beckley, 32, joined Costa Rica-based Absolute Poker in 2003 and became its head of payment processing. Last December, he pleaded guilty in Manhattan federal court to conspiring to break U.S. laws against gambling on the [...] From The Dollar Collapse: When investors decide to close out their riskier positions and move into “cash,” they don’t actually go to the bank and get a stack of twenties. Most just sell their stocks and let their broker sweep the proceeds into a money market fund which, they assume, is the same thing as cash because it holds high-quality short-term commercial paper that almost never defaults. That pleasant assumption breaks down [...] The two vehicles that were anti-climatically towed away by federal agents from then-D.C. Councilman Harry Thomas Jr.’s home in December are officially in the hands of the government. A filing in federal court last week states that Thomas’ 2008 Victory motorcycle and 2008 Chevy Tahoe sport-utility vehicle had been forfeited to the United States by order of the court. Thomas, who is now serving a three-year, two-month sentence in an Alabama [...] From Economic Policy Journal: Since September, the Fed has been driving down long-term interest rates via “Operation Twist.” OT consists of the Fed selling its shorter-term securities and using the proceeds to buy longer-term ones. This week, the Fed decided to extend OT through the end of the year. The Fed has sold the program as a way to provide low-rate financing for businesses and those seeking mortgages, but what institution has [...] The U.S. central bank will most likely ease monetary policy when it meets this week as recent data point to a worsening labor market and the crisis in Europe intensifies, Goldman Sachs said. The Federal Open Market Committee will likely say it would buy assets such as mortgage-backed securities and U.S. Treasurys when it meets for a two-day meeting starting Tuesday, Jan Hatzius, the investment bank’s Chief U.S. Economist said in [...] by Charles Hugh Smith The We-Fixed-Nothing Chickens Are Coming Home to Roost (June 4, 2012) The reality that the global Status Quo has fixed absolutely nothing in four years is finally coming to roost in the global economy. Though there is an [...] Of course the ECB (bankrolled by Germany) is at enormous risk were this preposterous scheme to actually happen. This is what I want to know: When does Germany say it has had enough of these preposterous schemes? Mike “Mish” Shedlock Mish gets to the point…. “… A Spanish government source says the plan is float what amounts to junk bonds, pawn them off to the ECB and use the proceeds to “recapitalize” Bankia. Of course the ECB (bankrolled by Germany) is at enormous risk were this preposterous scheme to actually happen. This is what I want to know: When does Germany say it has had enough of these preposterous schemes? ” …article… The situation in the euro zone has become so bleak that it is giving rise to the most improbable rumours. The latest to make the rounds of European hedge fund managers suggests that the euro will be tied to the dollar at close to parity, a dramatic fall from its current level of just under $1.30 and one that would involve the printing of hundreds of billions of euros. However unlikely, the speculation [...] Screenshot of Amy Winehouse self-portrait in own blood from iBidder.com LAS VEGAS (CBS Las Vegas) – A self-portrait of Amy Winehouse that was made out of her own blood will be auctioned off by friend and former rumored lover Pete Doherty . Multiple sources are reporting that the former lead singer of Libertines will sell the painting, a small piece entitled “Ladylike,” alongside items such as instruments, diaries and articles of clothing. The auction will be [...] Vice President Joe Biden jokingly berated campaign donors at a fundraiser this morning in Washington D.C. “I guess what I’m trying to say without boring you too long at breakfast – and you all look dull as hell, I might add. The dullest audience I have ever spoken to. Just sitting there, staring at me. Pretend you like me!” he said according to the pool report. The breakfast was held at the Fairfax [...] By Chris Oliver HONG KONG (MarketWatch) — China’s sovereign-wealth fund, China Investment Corp. (CIC), has received an additional $50 billion in funding from the central government, according to a report Tuesday in the Financial Times. The increase was disclosed in Beijing by CIC officials attending a forum, according to the report. The funding is a portion of the $100 billion-$200 billion sought by the CIC and likely represents an effort [...] From Dividend Growth Stocks: When investing in dividend-growth stocks, the goal is to find and buy stocks that will continue to raise their dividends. To do so, the business must generate cash in excess of its operating needs. But too many times this is simply not enough. Many companies generate significant free cash flow, but often, that cash is already spoken for in the form of debt obligations. Prior to the most [...] by Rob Wile Freddie Mac CEO Charles Haldeman, Jr. has written a rebuttal to the NPR/ProPublica story that criticized the corporation for making bets that would pay off if homeowners were stuck in onerous mortgages. In an op-ed published in American Banker, Haldeman defended the corporation’s purchase of inverse floater swaps as a hedging strategy that would limit taxpayer exposure to losses: Even though we reduced Freddie Mac’s investment portfolio significantly from $867 billion to $653 billion [...] From Peter Tchir of TF Market Advisors The ECB’s Scary Carry Trade According to the WSJ, the “ECB is willing to forego profits on their Greek bonds”. That statement strikes me as one of the scariest things that a central banker could say (and there is some tough competition for that one). Forego profits? Here is the chart of a typical Greek bond over the past 2 years. The ECB started buying Greek bonds [...] A few days ago, Eric Sprott decided to take advantage of the record premium over NAV of his physical silver fund PSLV (or for some other arbitrary reason) and to issue a $300MM follow-onoffering, whose proceeds would be used to buy up silver to add to PSLV’s existing physical holdings. Naturally, as soon as the news broke, the premium dropped to about 10%, making PSLV holders unhappy. This is not the [...] by Ben Walsh, BI JP Morgan has just been put in a tough spot by a new report from Reuters that it withheld the proceeds of asset sales byMF Global from the ailing firm in the days before its collapse. According to sources with knowledge of the transactions, MF Global sold hundreds of millions of dollars of assets to Goldman Sachs in the days preceding its bankruptcy. MF Global used JP Morgan as its clearing bank for these sales. However, MF Global [...] |
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One lucky baseball fan catches foul-ball in his beer and then proceeds to chug it in one
A fortunate baseball fan managed to catch a foul ball in his beer in full view of the stadium this week – and then proceeded to chug down the contents in one.
Caught on camera mixing two great game-day traditions – beer and catching a foul ball – the Padres fan’s taste of a baseball flavoured bevy has swept the Internet.
Taking place during a game between the Colorado Rockies and the [...]