Banks sold certificates of deposit at market rates for first time in second quarter
Traditional travel agents are having a laugh at their detractors as they get down to business at Virtuoso Travel Week in Las Vegas where they are expected to generate $450 million in business over the next four days.
As it began its fifth week of international release last weekend, Baahubali: The Beginning was tantalizingly near—just 17 crore rupees (US$265,000) away—to reaching the 542 crore worldwide box office tally it needed to pass Dhoom 3 and become the 3rd highest grossing Indian film of all time. But time was running […]
There’s a theory that sugar – in particular, sugary soda such as Coke and Pepsi – is the 21st century equivalent of cigarettes. The parallels are not perfect, but they are compelling. Like cigarettes, sodas were once thought to be a harmless vice. As with Marlboros and Lucky Strike, clever […]
Many entrepreneurs looking to grow revenue wonder whether bidding for and seeking contracts is good for business. There are plenty of reasons to consider contract business, but it shouldn’t be the exclusive pipeline strategy for those seeking to scale with intention. These are some considerations about contract business and the impact it can have.
Beware of wigs dressed as sheeple…
Back in January 2014, we reported that Goldman’s merchant banking unit rushed to buy an 18% in Denmark’s DONG Energy (that would be Danish Oil & Natural Gas) company for $1.5 billion. The result was an immediate grassroots resistance campaign, as hundreds of thousands of Danes refused to hand over their DONG to the vampire squid for various reasons, not the least of which was granting Goldman veto rights over changes to DONG’s leadership and strategy, a right usually reserved for buyers of 33% of an entity. A bigger reason for the Danish anger at the Goldman DONG deal, was that as The Local reported a few months later, the sale “did not include a massive deal that both parties knew was imminent, shortchanging the company’s value by as much as 20 billion kroner.”
Which was to be expected: as we further said in January 2014, “if Goldman is involved, it guarantees future benefits for the Vampire Squid”. Sure enough:
Denmark lost out on billions of kroner when it sold partial ownership of Dong Energy to American investment firm Goldman Sachs in January 2014, Politiken reported Wednesday.
Authored by Bill Bonner (of Bonner & Partners), illustrated by Acting-Man's Pater Tenebrarum,
Rich Man, Poor Man
Poverty is better than wealth in one crucial way: The poor are still under the illusion that money can make them happy. People with money already know better. But they are reluctant to say anything for fear that the admiration they get for being wealthy would turn to contempt.
“You mean you’ve got all that moolah and you’re no happier than me?”
“That’s right, man.”
“You poor S.O.B.”
We bring this up because it is at the heart of government’s scam – the notion that it can make poor people happier. In the simplest form, government says to the masses: Hey, we’ll take away the rich guys’ money and give it to you. This has two major benefits (from an electoral point of view). First, and most obvious, it offers money for votes. Second, it offers something more important: status.
For the last three weeks, gold has experienced something that has never happened before – hedge funds aggregate net position has been short for the first time in history.