/biz/ - Business & Finance

Merry Christmas to all my /smg/ brothers

Henlo did /smg/ remember to invest in a good meat for Christmas lunch and/or dinner?

Easily the best smg ever. Merry Christmas, all niggers must die.

So what did everyone get for Christmas? I mostly got snacks and such but my mom bought me a book which I honestly wasn't expecting and it was the best gift I've gotten in awhile. I've always been meaning to read more and my mom nailed it.

>>57089200
I do not eat meat.

MERRY CHRISTMAS!
https://youtu.be/u2dCXllmbLA?si=KNIU143adFEOKCxs

>>57089220
You're going to miss out on a lot of gains then

>>57089200
Did a big ol prime rip last night. No plans for tonight, probably just leftovers.

>>57089044
Do you guys invest with your bank or an investing app? Is there a difference?

>>57089234
Well thanks for reminding me, I'm off to pump some iron. Back day today.

>>57089239
schwab because they bought my fucking tda

>>57089217
>jerky
>$50 gift certificate for a restaurant
>heb peach guava sparkling water (very good)
>wash cloth for the kitchen (x2)
>money for fishing guide trip for my me and my dad (from grandma)
Pretty good. Though once you are an adult getting stuff is pretty pointless if you have a decent job since anything in the gift range money wise you can just buy for yourself unless you are poverty tier. I do think money to do something specific is good since it has you get an experience you might not have done or would have had to pay for vs some random crap you say thanks for and never use.

>>57089239
I invest with discount brokers. The main advantage over a bank is that I don't have to pay $60 every time I want to buy or sell a stock.

so is MANU opening at $30 or is it opening lower

>>57089259
Have a good workout anon
Strong body => Strong mind => Strong portfolio

>>57089271
I agree, I like just getting some snackies and a few small gifts. I enjoy giving gifts a lot more than I like receiving them.

>>57089278
So if your a beginner and don't know what you are doing, is it a bad idea to use a discount broker?

>>57089238
Looks fucking delicious

>>57089238
My father smoked a brisket for the holidays, shit was damn near delectable.

>>57089307
It was, perfect med rare.
>>57089315
Nice. My old traeger died so haven't done any smoking in a while.

SAVE
Do shares, options are to expensive. If you have to do options, do calls no sooner than February, and price less than $23. Buyout price in total is $33.5, a part of that $2.5 was paid out in Q1 2023 or before, then a $0.1 per share every month of 2023 totaling 1.2. The max price is now 29.8. Look at https://www.courtlistener.com/docket/66962142/united-states-of-america-v-jetblue-airways-corporation/?page=3.. Look at document 450 and 451 the end trial brief for both DOJ and JetBlue. You can also see proposed conclusion to law and finding of facts of each submitted 12/13/23. At $17 a share the market is still calling this a coin flip, and the rise from $15.5-17 has only been after Powell triggering risk on in the markets. Judge would have to ignore supply side entry and the mobility of airplanes. Clayton Act Section 7 requires "substantial harm", the DOJ is trying to drop that word. DOJ could appeal, additional divestiture hearings, DOT can try to block, things can drag out some and even with favorable Judge ruling it wont pop to $28+ outside of a short/gamma squeeze. I see this as passing 90%, I have staked 80% of my account on it. Be careful, a deal break and this falls to $5-7.

>>57089217
Got a harmonica for Christmas. Honestly pretty nice. I haven’t touched an instrument in years so it would be good to try and learn how to play it.

Any GreenX Metals bulls here?
https://www.youtube.com/watch?v=PoTk9ym98Bo

What are we drinking

>>57089440
just coke for now but I got a nice bottle of gulden draak waiting for me for tonight.

I sat out the entire rally
Now that we are at ATHs, i am feeling the urge to get back into semiconductors. Do with this information what you will

>>57089473
>Now that we are at ATHs, i am feeling the urge to get back into semiconductors.

You are into good old "Buy high sell low"?

>>57089480
We are going higher.

>>57089440
Drank a shitload of wine for the last 2 days. Family gatherings are pretty funny with my people.
Grandpa always fills us up with some homemade booze.
Good times

>>57089473
You don't want to wait for the probable recession coming next year? I'm still buying in but keeping cash to the side.

>>57089480
This is me and I need to stop. Whenever the market goes down I lose all interest and stop investing. When it goes up? That's when I get back in and as such I make peanuts compared to if I had the balls to buy the dip.

>>57089473
>you will never know the feeling of costing your masters (the company you wage slave for) billions of dollars
Why even live?

>>57089511
You are forecasting a crackupboom?

>>57089529
thank you for your service

>>57089539
You're welcome. I've settled on being a boglehead.

>>57089531
* his bankers, not his bosses, even better

>>57089529
You must hate black friday sales I guess.

>>57089559
No because I know when that'll happen. I don't know shit about the market I've come to realize. I thought it would crash when student loan payments resumed and it didn't. With that I'm done trying to time or predict it, fuck it.
Index funds and other boglehead shit it is for me.

>>57089559
>you must hate black friday
https://www.youtube.com/watch?v=T_gVJ9OWGmk

post some great books and not mid-wit garbage pic related.

>>57089590
>just be a boomer the book
Thanks dad.

>>57089566
>I thought it would crash when student loan payments resumed and it didn't.
I thought they had until the end of next year?

>>57089599
Ah right good point. Well I didn't contribute to my Roth IRA for 2023 just yet so...I'll just keep holding the money I have for that until I can't put in my 2023 contributions I guess.

>>57089217
I didn't get anything.

>>57089595
yeah it was a total waste of time, do (YOU) recommend any book ?

>>57089288
>Have a good workout anon
Thank you kind sir. Finished the workout my back muscles were aching during the workout which is always a good sign.
>>57089304
If you don't know what you're doing a discount broker like IBKR is the best way to start.

>>57089348
Poem anon <3.

>>57089646
What's discount about IBKR?

>>57089590

Bobros.....we will crash tomorrow

>>57089660
nah, poem anon is dead. Rocker gayed him to death with his advances.

>>57089618
I use to read a lot but haven't recently that much. I should make a big book list and post it. For finance it wouldn't be books on investing but more stories about it.

>the smartest guys in the room (enron)
>conspiracy of fools (enron)
>bad blood (that steve jobs lady who made the blood machine)

Books helpful for life/ self improvement:
>how to win friends and influence people (unironically worth a read it's short)
>anything by malcom gladwell
>thinking fast and slow (likely overrated as it's on like every list to read but is worth a read)

For enjoyment (fantasy):
>a song of ice and fire (game of thrones, my favorite books of all time even though the series will likely never be finished)
>name of the wind (also won't be finished but good)
>anything by brandon sanderson (stormlight archives are the magnum opus)
>the expanse series (sci fi)

Probably like 50 more I could mention if I thought about it longer but these are what stick out. I should just make a static webpage with a list of recommendations that I could send to friends / family or refer back to.

>>57089661
Their fees.

>>57089672
If you're not PA then you shouldn't post his frogs
It's disrespecful

will there be a Santa Rally this week?

>>57089692
I'll use whatever frogs I want

>>57089672
If you're not poem anon why are you impersonating him, I also saw complaints of a TBLT bag holder (Poem Anon) was that you too? I pray that you are poem anon. If so I'm eagerly awaiting for you to premier your poems on the /smg/ thread. If to the contrary fuck you.

>>57089695
No, tomorrow is Boxing Day rally, then we New Years Rally until eoy

>>57089695
We are pumping like no tomorrow. This is the soft landing.

would I be correct in assessing that the average age in this general is 40+ ?

Anyway /smggers/ now that BTI impaired $25B of assets which they will use for tax deductions, which in turn would make it easier for them to pay back the large pile of debt on their balance sheet I'm actually becoming bullish. Funny how you can deduct $25B in taxes by doing some accounting magic.

>>57089695
Possibly.

>>57089734
I would say average is early to mid 30's.

>>57089217
Snacks,cash, and just family time. Plus a big ol bowl of chili for lunch. The way it works is my parents make it fun.They don't just say "here" and hand out an envelope with cash stuffed inside. (which it isn't much anyway). Oh no you gotta play to win. We all play a game. Whoever wins gets the pot. With each person getting a smaller amount based on the cards left. With my parents, aunt,uncle,me,my wife,my brother,his wife, my sister, and her husband all playing it took awhile.

>>57089734
I'm 34.

>>57089744
>No BTI in portfolio.
>Known as Boomer anon.
These are contradictory statements, one cannot be a boomer without BTI in his portfolio. What's your defense here?

>>57089734
I'm 40. For now. In a few days I turn 41.

>>57089217
I made a BLT and did the dishes. Been watching football and drinking.

Board IQ is down by 2 std deviations ever since the BTC pump. Planning on shorting the ETF news, should be free money.

>>57089566
>>57089599
It takes time, but yes, this will result in pain. Already over half of borrowers have already defaulted every month since October.

>>57089781
I'm not a doomer or bear for that matter, but I got a bad feeling about next year scoob.

>>57089737
yes or no
>>57089711
huh? did I miss it?
>>57089722
digits confirm

>>57089779
>Complains about low IQ on the board.
>Proceeds to short one of the most irrationally exuberant markets in history.

>>57089761
Well the individual stocks are more along the lines of "fun" and "cause I could" and cause I know the companies and like the products. Course it don't hurt that I'll make extra green by owning them either. Tobacco, well I know all about it first hand. Growing up I helped with all parts of the process. From seeding it to bailing it. (the finished product gets compressed into bails based on leaf quality; 3 types). Needless to say after all that you'd think twice about smoking.

What's the situation for those of you here 40+? Are you retired? Still working?

>>57089788
Yes, Santa Rally is from Thanksgiving up to Christmas. I hope you made money

>>57089044
Is intel a good investment?

buy tupperware, TUP. its getting ready for a pump. Financials coming by feb.

>>57089797
Didn't know they baled tobacco, but thinking about it, seems as if it's the most cost efficient way to store it. I only smoke cigars though, but I know a ton of people who smoke cigarettes.

>>57089800
Well in my case it's mater of still working with the countdown clock turned on to retirement. But my case is not typical. For on thing uh what I do can't really be called "work" as most define it. Frankly I do "nothing" for 8hrs a day. Well not really "nothing" I can't just blurt out what I do cause I do work for very high level people in state government. The governor himself for one. Another is I'm 40, almost 41 and I can retire at 54.

>>57089779

>futures

>>57089044
Merry Christmas /smg/ woohoo!

>>57089831
No you fucking faggot, stop asking.

>>57089734
I''ll probably still be here here when I'm 40

>>57089838
Oh yes. It's hard work. You seed it, grow it and while you let it grow you gotta keep the weeds and bugs out of it and put nutrients in the ground. You also gotta water it. Which involves laying big ol irrigation pipes in a line to the nearest pound or lake. This is phase one. Phase two involves topping it (after the plants mature they grow flower looking buds at the top;you gotta wack those off by hand), laying out tobacco sticks down each roll, then cutting it and putting each plant on the stick (7-8 per stick;pretty heavy) by hand. After you do that you get the fun task of lifting said heavy stick to someone on a wagon who stacks it in rolls.

>>57089854
A fortnight more.

>>57089908
also, experienced boomers, do you have any advice for someone half your age, or better, what would you tell a 22 year old version of yourself, with the knowledge that you have now?

>>57089779
No truer countersignal than /smg/ Free Money Plays

>>57089874
Merry Christmas

>>57089854
>doom and gloom goyslop
bullish as fuck

>>57089944
Thanks, fren, I hope you're having a lovely day!

>>57089911
Phase 3 involves taking a loaded wagon of plants to a barn. Then some people climb up in the barn to where upon someone else lifts the plants up to them from the wagon. The barn full of hung plants cure for several months. (Turn green to a kinda brownish color). Then after the months pass all the plants come down in reverse back on a wagon. But this time the sticks come out. The plants just pile up in rolls.Kinda dry. Finally the wagon load of dry plants go to a stripping room. They get doused with some stream to make them not brittle and crumble. Next someone carries a load of plants into the room and 3 to 4 workers take it from there.

>>57089944
wholesome webm

>>57089954
This is the final part; Each plant of tobacco has 3 class of leaf on it. The good, the middle, and the rough. Generally the good leafs are at the top. Each class gets bailed separately. The rough leafs are at the bottom. Each bail can weigh 80+ pounds when its all said and done. These get stacked on a trailer. The bare plant stalks don't go to waste. They get dumped in a spreader and once that's full the it'll get spread out on the ground the plants grew in at the beginning for fertilizer. Or in a cow pasture to give the grass some fertilizer. Once the trailer with bails is full they'll take it to market and get sold.

>>57089967
https://i.4cdn.org/gif/1703487658773554.webm

>>57089217
Time off to continue the path

>>57089993
Thank you for the explanation, you seem like a hardworking person, and not the kind that would end up in government.

>>57089993
Needless to say this is all hard work. Your fingers will be covered in black tobacco gum. You get free exercise. The tobacco gum doesn't exactly come off easy. It also smells. Been many a time I've come in covered with gum.

>>57090022
Yes. I worked on my grandparents farm when I was a kid to a teenager. Hard work. But it was fun. Corn,hay, cows, tobacco,basedbeans and bit of everything else (electrical work, plumbing work,building work,automotive). You learn a lot. Kids now have no clue. The farm is still family owned today. Uncle owns it.

>a man undercover
>he tore my ass apart
>last Christmas I have you my hear

>>57090051
You mentioned wagons. Like pulled by horses? What state do you live in? Guessing it's a regional thing, unless you're some Amish guy that bought a phone or something.

>>57089967
>futures

>>57090051
>But it was fun.
So is doing "nothing" (you frequently boast about it so I assume you're actually doing nothing) at a government job more fulfilling than working on a farm or as a plumber, electrician etcetera? And why, is it the money, do you side hustle during those hours?

>>57090083
>>57090001
this is why I come to /smg/

>futures

>>57090104
that is an extremely European post.

>>57089358
I bought March 25c how fucked am I? I have about $35000 worth, you think IV crush will be so bad I only make like 30-40% on them? Was hoping for a 3x upon reaching my PT of $25 (because I doubt it would go right to $28+ on favorable ruling).

IV on them is about 110%.

>>57090075
No wagons as pulled by a tractor. Basically four wheels, flat deck, kinda long with a panel at the rear that the plants are leaned against. Two rolls of plants. Typical tractor pulls one wagon at a time. Aside; typical plant. up to 7ft tall.

>>57090110
How? I didn't misuse commas instead of decimals while discussing numbers.

Santa spotted.

Where is that anon who was shilling Hello Fresh as an investment?

>>57090121
was talking about the video

>>57090138
Such is life.

>>57090114
I borrowed this image for illustration purposes but this is kinda what I'm talking about. I used to drive a tractor just like this and we had wagons like this to but the rear panel didn't have the braces as this one does.

>>57090150
We just call those trailers.

>>57089954
I actually did this on a small scale with mahorka tobacco for personal use. Shit is really easy to grow but the processing and aging is a bit of a pain.

>>57090143
He was a dog in a past life.

>>57090113
You should be good with those price and time wise. The IV isnt far from historical of 88% either. I don't know to much about options, someone else will need to chime in for that. JetBlue is paying a $0.1 per share ticking fee from January 2024 till deal break in June that is aside from the remaining $29.8. The Judge is known to be punctual, a ruling should come by mid January.

>>57090143
he runs funny

>>57090218
Sounds good, thanks brother

t. Broward anon

>futures

I have been seeing lots of talk about SAVE on here and wallstreetbets. It seems too good to be true to me. The options contracts dont seem to be priced for a move to 30. My bullshit alarms are going off and I think lots of people are going to be dissapointed.

>>57090293
I've been making money off of it since it was at $12. Charts are consistent. My play with it ends at the end of the week. Lots of calls vs puts on it, almost 2:1, it will just keep going up until the decision just based on that.

>>57090293
>the options contracts dont seem to be priced for a move to 30

what do you mean by this? also all the arguments and court transcripts are out there, you can read it and see for yourself the DOJ case is weak.

>>57089753
>>57089765

I'm 18, you two are hella old fr

>>57090331
Get off my lawn! You'll be 34 before you know it. Not really, but the older you get life does speed up. You early 20s will "last" much longer than your later 20s. And even now at 34 my life is on like 3x or more speed from when I was 18. So it won't seem like 16 years before you are my age, it will seem like 8 from where you are now with how time picks up age you age. You can counteract this by having kids and/or not syncing into a rhythm which causes all the days to stick together and go by on fast forward. That said, rhythms can be very beneficial for improvement, so that has to be balanced.

>>57090306
What im saying is if its 80% chance going to $29 then why is a 1/19/24 $22 call averaging $2 vs ~$7? By that logic its almost free money. Why wouldnt everyone and their mother load up on call options contracts or shares?

>>57090358
hedging in the idea that if the deal is blocked (very unlikely) that it will take longer (options expire) and the actual settlement will be for a lower price.
Again, very unlikely, the gov argument is weak if not nonsensical.

>>57090358
the market doesn't truly believe it's 80% because it still comes down to the decision of an 80 y/o man. also because the potential downside is like a -70% heeming on shares

>>57090358
Also, the spreads on some of the options for this stock can swing pretty violently. I've been up 60% and down 30% within hours holding the same options. Lower liquidity causes some violence.
That's why all these faggots are warning about money market accounts and interest rates in them.

Ok guys, now let's be real. Wtf is this? Is anybody going to tell me that this market is the expression of "bulls & bears" fighting? That there are several entities buying and selling and it is not just one single fuckin computer that runs the whole thing?

Just look at the SPX. It is pretty much back to where it was PRE US opening on friday. The whole dump was bought up instantly over the weekend.

So, all the rich guys thought to put up orders for tuesday, the second christmas day to bring up the market to pretty much where it was? How the fuck does all that work? It looks way too robotic.

>>57090411
I noticed this to especially with March strikes. Do you think upon hypothetical positive decision, the spreads will narrow?

>>57090420
the market has been manipulated for a long time anon

Pregamming the post Christmas rally with some 100 proof vodka
LETS GO

>>57090437
Yes, of course. I suspect that there is a lot of money on the sideline just waiting to jump into it, either way it breaks. All the money is on the upside though, even with as dire and grim as the market is signalling in general. I also like the meme potential of Spirit and SAVE. Companies choose stock tickers for a reason.

I'm about to go to bed at 7pm so I can wake up tomorrow to get to the gym at 4am to be ready for watching the charts tomorrow god damn.

>>57090121
Oh wow, cute/10

>>57089666

>>57089675
thanks bros

>>57090464

FRESH /SMG/ UPDATE
https://youtu.be/CC6FJnZqr3k
https://youtu.be/CC6FJnZqr3k
https://youtu.be/CC6FJnZqr3k

>>57089217
>a set of pijamas
>some boxers and socks
>sweatpants
>a shirt with felix the cat
within expectations, although it did feel like a downgrade from last year, guess the normies are really feeling muh inflation and stuff

>still no recession
I guess infinite growth is actually real

>>57090560
Thanks but wtf's up with your new mic? I'm only getting left audio

any low 6-fig just get the urge to go all in on 1 or 2 picks?
even if i keep my index funds i'm still going to end up retiring at 60 or something
i need something more significant

LAMEME HAHAHAHAH WHAT THE FUCK

>>57090637
based NFL enjoyer and possible fellow Niners fan posting in smg on accident
t. I do this from time to time as well, rum and coke here.

>>57089044
MARA Chads, $40 EoW?

>>57090645
there's no way it can just keep pumping now can it? it's up like 50% and overbought as shit

>Deflation is now a big buzz word in MSM

>MSM still trying to make out things like no bonuses is good for the economy

...bros, is it true that deflation is one of the early stages that leads to hyperinflation or a depression? How do I prepare for it?

>>57090642
kek I didn't even realize, I have 3 threads open. Purdy for mvp

>futures

>>57090653
BE QUIET YOU QUIET QUITTER

Purdy got lucky with that blocked pass, was gonna be a pick otherwise.

>>57090672
Thats funny because I went to put in my 2 weeks notice and the manager told me to fuck off.

So guess I will keep waging then.

>>57090653
Deflation leads to a recession. Money velocity drops, no one wants to borrow or spend, they wait because dollars will be worth more in the future. Less borrowing and spending means less (or negative) growth, investment, hiring, jobs, etc... Probably not a depression without some other big crash to destroy the financial system though. Japan has been stuck in or close to deflation for like 2 decades. They haven't had a depression, but everyone describes their economy as "stagnant".

>>57090716
If you have ever been to Japan, you'd realize that the people are very frugal, and they rely on tourism. Country is basically run by the mob.

>>57090727
I have not been to japan, so all I'm going off of is what I read and see in finance/econ YT videos and podcasts

>>57090727
Also FYI your ID is GAy you should fix that

>>57090733
I recommend visiting Tokyo and a couple other big cities if you can. The currency exchange is very good. I spent a month there renting a room in an apartment about 10 years ago and learned a lot about the culture from the host as well as from businessmen in bars.

Now even gasdata is being fucked up?


>>57090704
>2 weeks notice
isn't that like quitting? How can he tell you to fuck off? lol
It's a one sided lifting of the agreement or not? At least in the EU, legally.

>>57090742
Yeah, saw that when the thread started and was waiting to be called out for it. At least I'm the CEO.
Fuck niggers and jannies and go long SAVE

Fuck Boxing Day. The majority of my net worth is in an Australian bioshit penny stock, which should’ve opened trading at 6:00pm ET, but trading is closed for fucking Boxing Day.

What happens to stocks when 4chan is down? I expect some daily outages in the coming months (across the entire internet, multiple sites).

My job isn't all sunshine you know. Yeah it's all good now. But the stick comes out when I go to retire. I get a pension for life. I get medical from age 54 to 65. But therein lays the rub. They only give so much money towards the health premiums. Anything beyond that gets sucked outta your pension. Which you don't want to happen. Essentially uh going by today's dollars I'd be forking a decent part of my pension to cover me and my wife just for the health coverage. The solution? Get insurance via private plan. They'd still give me so much per month to cover health premiums which would leave my pension untouched. Ironically if I'd got on a year earlier I'd have been covered under the old system. That system; you retire. The state picks up the cost of medical 100% till age 65.
Aside; another borrowed image; shows the tobacco plants hung in a barn.

threaadly reminder to buy TUP

>>57090829
Can't I just go to WMT and buy knockoff products that do the same or better for 1/2 the price? Why would I or anyone buy actual TUP products... and thus why the fuck would their stock go up?

For me, it's Pyrex.

>>57090864
>have patents for all the good storage containers.
>have iconic brand.
>have new CEO
>releasing earnings by january 24.
>insiders slurping up cheap shares by the hundred thousands.
>either mooning or being bought out.

Is Ryan Cohen actually based? Should we be taking GameStop seriously?

>>57090886
Where's the lie though?

>>57090560
King

>>57090796
>Australian bioshit penny stock
Which one?

>>57090886
Yes, buy his companies like the bbbyaggies

Alright /smg/ I am gonna go history mode on christmas and start dropping all kinds of half hazard research thats mostly wikipedia quotes.

>The Panic of 1819 was caused by the rapid resurgence of the European economy after the Napoleonic Wars, where improved agriculture caused the prices of American goods to drop, and a scarcity of specie due to unrest in the Spanish American colonies. The situation was exacerbated by the B.U.S. under Bank President William Jones through fraud and the rapid emission of paper money. He eventually began to call in loans, but nonetheless was removed by the Bank's directors. Langdon Cheves, who replaced Jones as president, worsened the situation by reducing the Bank's liabilities by more than half, lessening the value of Bank notes, and more than tripling the Bank's specie held in reserve. As a result, the prices of American goods abroad collapsed. This led to the failure of state banks and the collapse of businesses, turning what could have been a brief recession into a prolonged depression. Financial writer William M. Gouge wrote that "the Bank was saved and the people were ruined".

>>57090948
>First Bank of the United States, was a national bank, chartered for a term of twenty years, by the United States Congress on February 25, 1791. It followed the Bank of North America, the nation's first de facto national bank. However, neither served the functions of a modern central bank: They did not set monetary policy, regulate private banks, hold their excess reserves, or act as a lender of last resort.[1] They were national insofar as they were allowed to have branches in multiple states and The chief requirement of these non-government purchases was that one-quarter of the purchase price had to be paid in gold or silver; the remaining balance could be paid in bonds, acceptable scrip; money to the US government. Other banks in the US were each chartered by, and only allowed to have branches in, a single state.

>Hamilton proposed establishing the initial funding for the First Bank of the United States through the sale of $10 million in stock of which the United States government would purchase the first $2 million in shares. since the U.S. government did not have $2 million, proposed that the government purchase the stock using money lent to it by the bank; the loan to be paid back in ten equal annual installments.[6] The remaining $8 million of stock would be available to the public, both in the United States and overseas.

>The chief requirement of these non-government purchases was that one-quarter of the purchase price had to be paid in gold or silver; the remaining balance could be paid in bonds, acceptable scrip, etc

>the primary function of the bank would be to issue credit to the government and private interests, for internal improvements and other economic development, per Hamilton's system of Public Credit.

>>57090960
>That the bank would have a twenty-year charter running from 1791 to 1811, after which time it would be up to the Congress to approve or deny renewal of the bank and its charter; however, during that time no other federal bank would be authorized; states, for their part, would be free to charter however many intrastate banks they wished.
>That the bank, to avoid any appearance of impropriety, would:
be forbidden to: buy a government bond.
have a mandatory rotation of directors.
neither issue notes nor incur debts beyond its actual capitalization.
That foreigners, whether overseas or residing in the United States, would be allowed to be First Bank of the United States stockholders, but would not be allowed to vote.
That the Secretary of the Treasury would be free to remove government deposits, inspect the books, and require statements regarding the bank's condition as frequently as once a week.[10]

> "for interest payments on the assumed state debts would begin to fall due at the end of 1791...those payments would require $788,333 annually, and... an additional $38,291 was needed to cover deficiencies in the funds that had been appropriated for existing commitments."[11] To achieve this, Hamilton repeated a suggestion he had made nearly a year before—increase the duty on imported spirits, plus raise the excise tax on domestically distilled whiskey and other liquors.

>>57090967
>Secretary of State Thomas Jefferson and James Madison led the opposition, which claimed that the bank was unconstitutional, and that it benefited merchants and investors at the expense of the majority of the population.

>Jefferson and Madison also opposed a second of the three proposals of Hamilton: establishing an official government Mint. They believed this centralization of power away from local banks was dangerous to a sound monetary system and was mostly to the benefit of business interests in the commercial north, not southern agricultural interests, arguing that the right to own property would be infringed by these proposals.
>Furthermore, they contended that the creation of such a bank violated the Constitution, which specifically stated that Congress was to regulate weights and measures and issue coined money (rather than mint and bills of credit).[14]

>To offset the inflation of war, local merchants took action. They revived paper scrip by printing a variety of bills worth less than a dollar each. People called them "shinplasters" because the paper, once redeemed, was so worthless it was only good for lining one’s boots.

>"It wasn’t legal," Lafond says, "but people used scrip, and you can’t lock up everyone in the country. It wasn’t counterfeit because it didn’t imitate federal currency."

>Scrip was extremely local. Its value was based entirely on the reputation of business owners whom citizens trusted to back up their little promissory notes with real money once the fiscal emergency had ended

>The underground success of scrip, however, was that a wide variety of local merchants accepted each other’s paper notes and treated them like cash. The same note might be worthless in another town or state.

>These practical merchants, through their cooperation, buoyed up the economy in hard times. Some also made a tidy profit.

>>57090560
NIGGER

Merry Christmas /smg/!
Thabks for making a video Mr Fatthands

>>57090977
>On May 8, 1792, An Act to Provide For a Copper Coinage [1 Stat. 283]] was signed into law by President George Washington. It followed the precedent of the Fugio cent of 1787 in establishing the copper cent, from which descends today's one-cent piece. The Act also stipulated that "the director of the mint... be authorized to contract for and purchase a quantity of copper, not exceeding one hundred and fifty tons... to be coined at the mint into cents and half-cents... and be paid into the treasury of the United States, thence to issue into circulation." Furthermore, it said that "no copper coins or pieces whatsoever except the said cents and half-cents, shall pass current as money, or shall be paid, or offered to be paid or received in payment for any debt, demand, claims, matter or thing whatsoever." It also stated that people caught trying to knowingly pass or receive foreign copper coinage in a transaction will have it confiscated and all parties fined $10.

>today there is no legal definition of the term "dollar" to be found in any U.S. statute.[7] Current statutes regulating coinage in the United States may be found in Title 31 of the United States Code.

>As gold flooded the monetary markets of the world, its commodity price declined due to its higher supply. This, in turn, caused the price of silver relative to gold to skyrocket. American silver became a premium. With the bullion value of silver far exceeding the face value of U.S. silver coins, melting became rampant as speculators could sell off their silver coins as bullion for its more profitable world market value. Small silver coinage, which retail businesses and consumers relied upon for minor transactions, soon began to disappear

>In essence, the 1853 coinage Act turned silver into a fiduciary currency, transforming the value of silver coins from something goods and services were sold for into a medium by which goods and services were exchanged.

>Title II—Amendments of existing law (sections 201 to 212)
>Section 202 increased the amount appropriated to expand Mint facilities (including the construction of the new Philadelphia Mint) from $30 million to $45 million. Section 9 of the Gold Standard Act of 1900 had required the Treasury Secretary to melt silver coins that were worn or no longer current, and restrike them into new ones; this was repealed by section 203 and the secretary was given authority to withdraw and melt all worn or uncurrent coins without needing to reuse the metal in coinage.[66]

>Section 204 amended the Coinage Act of 1873, which required the year of striking to appear on coins. During the 1965 or subsequent coinage emergency, the secretary could continue to strike coins dated with a year that has passed, with the silver ones in the present crisis to be dated 1964, and the clad ones 1965 or after. The House Banking Committee added language to Johnson's proposal, eliminating mint marks on coins for up to five years, excepting the mint mark "D" for Denver on 1964-dated coins struck there

>another Mint account, the minor coinage metal fund, used to purchase copper and other metals for cents and nickels, was redesignated the coinage metal fund by section 206, usable for all denominations, and that section eliminated statutory limits on how much money can be in that fund

. Section 208 repealed a provision of the 1873 act requiring coinage dies for the obverse, which are dated, to be destroyed at the end of each year.

Section 209 rephrased statutory provisions allowing the Treasury to sell silver at a price not less than $1.292929 per ounce, and allowed it to sell silver to other government departments for less

>>57091022
>Section 210 repealed the 1933 provision regarding the legal tender status of coins. The law prior to 1965 made it a felony to forge silver coins; this was amended by section 211 to forbid the counterfeiting of coins with denomination greater than five cents

>Section 212 made using coins as security for loans a misdemeanor if the secretary has made a proclamation in the Federal Register proscribing their use as collateral

>Sections 301 to 303 establish a Joint Commission on the Coinage in the Executive Branch, chaired by the Treasury Secretary. Its membership was to include the Commerce Secretary, Budget Director, Mint Director, six members of the House, six of the Senate, and eight members of the public, appointed by the president. If a member of the commission left the position that qualified him for membership, he would leave the commission as well. The members of the public were not to have any financial conflicts of interest.[62]

>The Mint continued to strike 1964-dated silver pieces under the authority of the Coinage Act until 1966,[70] when Secretary Fowler announced, "the coin shortage is over".[68] In July 1966, the Treasury announced that coins struck after August 1, 1966, would bear the date of minting
>Silver inventories at the Treasury continued to drop through 1966 as the government attempted to maintain the $1.2929 price of silver. The Joint Commission on the Coinage, authorized by the Coinage Act, held its first meeting in May 1967 to recommend how to deal with the situation. At its recommendation, the Treasury discontinued sales it deemed speculative, and to foreign buyers, attempting to supply only U.S. industry at that price, and resulting in a two-tier price system for silver

It also invoked its authority under the Coinage Act to prohibit the melting or export of silver coins.

>>57089931
Im 43. I wasted a long time not focusing and getting my CS degree. Focus on what yiure trying to achieve. Try not to waste time on what you really want. Go work for it. Ofcourse invest as early as you can as much as you can. Work hard while you have the energy so you dont have to when you dont. Merry Christmas anon

>>57091033

>In June 1967, it obtained legislation making silver certificates no longer exchangeable for bullion effective after a year. After the Joint Commission's second meeting, in July 1967, the Treasury announced that it would no longer attempt to maintain the $1.2929 price as it could keep the nation supplied even if all the remaining silver coins vanished from circulation,[71] as they soon did

>December 1968 voted to recommend making the prohibitions on melting or exporting silver coin permanent, it reconsidered and in March 1969, the bans were lifted. In November 1969, the government left the silver market, making its final sales of bullion to the Franklin Mint.[72] Mint marks returned to the coinage in 1968.[25] The new coins came to be pejoratively known as "Johnson sandwiches" for their copper interiors.

>With the end of the Coinage Act's five-year prohibition on the striking of silver dollars approaching in 1969 and 1970, many in Congress wanted a new silver dollar, bearing the image of the recently deceased president, Dwight D. Eisenhower. The melt value of the new part-silver half dollars had approached their face value, and in 1969, the Joint Commission recommended the elimination of that metal from the halves.

>it was not until December 31, 1970, that President Richard Nixon signed legislation for a circulating half dollar and Eisenhower dollar, both silverless, with part-silver collector's versions of the dollar also authorized. The same bill authorized the sale of the remaining old silver dollars in government inventories, many from the Carson City Mint.[76] The base metal dollar and half dollar were struck beginning in 1971. Both failed to circulate: the "Ike dollar" because of its size,[77] and the half dollar because its place in commerce had been lost during its long absence

>>57091038
The Conference Board Leading Economic Index is an American economic leading indicator intended to forecast future economic activity. It is calculated by The Conference Board, a non-governmental organization, which determines the value of the index from the values of ten key variables. These variables have historically turned downward before a recession and upward before an expansion. The per cent change year over year of the Leading Economic Index is a lagging indicator of the market directions.[1]
Revisions to The Conference Board Leading Economic Index effective with the January 26, 2012 release began using the new Leading Credit Index ... etc.[3]

10 key variables:::
The United States Department of Labor’s monthly report on the unemployment rate, average hourly earnings and the average workweek hours from the Employment Situation report

The United States Department of Labor’s weekly report on first-time claims for state unemployment insurance

The United States Census Bureau’s monthly consumer goods and materials report from the Preliminary Report on Manufacturers' Shipments, Inventories, and Orders

The United States Census Bureau’s monthly non-defense capital goods report from the Preliminary Report on Manufacturers' Shipments, Inventories, and Orders

The United States Census Bureau’s monthly report on building permits from the Housing Starts and Building Permits report
The difference (spread) between the interest rates of 10-year United
States Treasury notes and the federal funds rate

The Conference Board's Leading Credit Index, itself a composite index of six financial indicators, e.g. yield spreads and investor sentiment[4]

The Institute for Supply Management’s monthly ISM Index of Manufacturing including: supplier deliveries, imports, production, inventories, new orders, new export orders, order backlogs, prices and employment.

The S&P 500

The University of Michigan Consumer Sentiment Index's consumer expectations

Hey man you know you can just post URLs to things or screenshots

>>57091053
I don’t like niggers

>>57091072
whoa whoa you cant post that word here sir

>>57091094
We took a vote back in 21 and turns out we are allowed to.

>>57091111
>2021 was 13 years ago
Checked

>>57090085
Well while working on the farm was fun and hey free exercise can't be beat the toll it takes on your body is not a laughing matter. Also the dangers involved. Do you really want to be climbing up inside a barn at age 50 to hang some tobacco plants on a stick as one example. Some barns are pretty tall. The ground level isn't exactly free of danger either. Sticks break. Loaded with plants which isn't light come crashing down all the time due to wind or whatever. My current career is laid back by comparison, like a vacation. I do "nothing" which means yeah sometimes exactly that but it also means I can't really go into detail due to the fact I do work that goes direct to the Governor among others high up in government. I've got a good work ethic. Farm life will give you that. So that translates into me now in my current roll being left alone by everyone cause they know I get the job done such as it is. (also it don't hurt any that there's just one person above me in the division, my boss. When he isn't there I run the show and everyone else there reports to me)

>got my drunk cousions to buy 1 week OTM calls on USO

>>57091225
How far otm are we talking here?

>>57091094
fuck you, nigger

no niggers aloud on /smg/

Is the market open tomorrow I feel like splitting ass cheeks with my cock

>>57091354
Yes it's open

>Futures

Tax season is coming up. Have you paid your Q4 estimates?
Personally, I've managed to loss harvest my way down to 70k in realized gains, of which 50k are long term and qualified divvies. After standard deduction and the IRA contribution, I'll owe close to zero in taxes.

Looking forward to getting $30k in prepayments refunded to me.

>>57090420
>Theories that explain a Santa Claus rally include end-of-year tax considerations, a general feeling of optimism and seasonal happiness on Wall Street, and investing holiday bonuses. Some institutional investors settle their books and vacation during this time of year, leaving the market to retail investors, who tend to be more bullish toward the market.

>>57091129
13 years you say? You sick fuck.

>>57091402
That's old enough to be my grandmother

What we doing tomorrow through the 1st? I thought January was a down month but statistically it’s usually green?

>the 1933 Banking Act thus fulfilled Congressional designs and, at least in its deposit insurance provisions, was resisted by the Franklin Delano Roosevelt Administration, it later became considered part of the New Deal.[5]

>The 1933 Banking Act established (1) the Federal Deposit Insurance Corporation (FDIC); (2) temporary FDIC deposit insurance limited to $2,500 per accountholder starting January 1934 through June 30, 1934; and (3) permanent FDIC deposit insurance starting July 1, 1934, fully insuring $5,000 per accountholder. 1934 legislation delayed the effectiveness of the permanent insurance system. The Banking Act of 1935 repealed the permanent system and replaced it with a system that fully insured balances up to $5,000 and provided no insurance for balances above that amount.[10] Over the years, the limit has been raised which reached up to its current limit of $250,000.

>The 1933 Banking Act required all FDIC-insured banks to be, or to apply to become, members of the Federal Reserve System by July 1, 1934. The Banking Act of 1935 extended that deadline to July 1, 1936. State banks were not eligible to be members of the Federal Reserve System until they became stockholders of the FDIC, and thereby became an insured institution.[11] 1939 legislation repealed the requirement that FDIC-insured banks join the Federal Reserve System

>Before 1950, the laws establishing the FDIC and FDIC insurance were part of the Federal Reserve Act. 1950 legislation created the Federal Deposit Insurance Act (FDIA).[13]

>The 1933 Banking Act's separation of investment and commercial banking is described in the article on the Glass–Steagall Act. Institutions were given one year to decide whether they wanted to specialize in commercial or investment banking

>the Banking Act of 1933 outlawed the payment of interest on checking accounts and also placed ceilings on the amount of interest that could be paid on other deposits.

>>57091493
provisions of the 1933 Banking Act required each Federal Reserve Bank to monitor local member bank lending and investment to ensure there was not "undue use" of bank credit for "speculative trading or carrying" of securities, commodities or real estate.

limited the total amount of loans a member bank could make secured by stocks or bonds and permitted the Federal Reserve Board to impose tighter restrictions and to not limit the total amount of such loans that could be made by member banks in any Federal Reserve district.

prohibited Federal Reserve member banks from acting as agents for nonbanks in placing loans to brokers or dealers.[16]

required state member banks to provide its district's Federal Reserve Bank and the Federal Reserve Board and national banks to provide the Comptroller of the Currency a minimum of three reports on their affiliates

regulated transactions between Federal Reserve member banks and their nonbank affiliates

established criminal penalties for misconduct by officers or directors of Federal Reserve System member banks and authorized the Federal Reserve to remove such officers or directors;

eliminated personal liability ("double liability") for new shareholders of national banks
gave national banks the same ability to establish branches in their "home state" as state chartered banks in that state.[21]


Provisions of the 1933 Banking Act that were later repealed or replaced include (1) Sections 5(c) and 19, which required an owner of more than 50% of a Federal Reserve System member bank's stock to receive a permit from (and submit to inspection by) the Federal Reserve Board to vote that stock (replaced by the Bank Holding Company Act of 1956)

established the Federal Open Market Committee (FOMC) made up of representatives from each of the 12 Federal Reserve Banks (revised by the Federal Reserve Board-dominated FOMC established by the Banking Act of 1935 and later amended in 1942)

>>57091493
>>57091505
Try harder simp faggot

>>57091505
>considered himself "the father of the Federal Reserve System." The various versions of Glass bill consistently sought to (1) expand branch banking and bring more banks and activities under Federal Reserve supervision and (2) separate (or regulate the mix of) commercial and investment banking.

>sought to avoid deposit insurance by providing for a "Liquidation Corporation," a federal authority to purchase assets of a closed bank based on "an approximately correct valuation of its assets". Glass's idea was for a federal corporation to assume ownership of the assets of failed banks and sell them over time as the market could absorb them, rather than dump assets onto markets with little demand. provided that such payments would be used to make immediate payments to depositors to the extent of the bank's "bona fide assets".[26][27]

>commercial banks should no longer be allowed to underwrite or deal in securities; This theory served as a foundation for the Federal Reserve Act of 1913 and earlier US banking law

>this theory had resulted in the "excesses" that inevitably led to the Wall Street Crash of 1929 and the Great Depression.[31]

>Senator Glass used this commercial banking theory to criticize banks for their involvement in securities markets.Glass condemned banks for lending to stock market "speculators" and for underwriting "risky" or "utterly worthless" securities, particularly foreign securities, that were sold to unsophisticated bank depositors and small "correspondent banks

>opposing direct bank involvement in these activities and indirect involvement through "securities affiliates". Such affiliates were typically owned by the same shareholders as the bank, with the affiliate's shares held in a "voting trust" or other device that ensured bank management controlled the affiliate.

>>57091512
>The "Direct Pressure" letter required any commercial bank seeking to avail itself of Fed lender-of-last-resort assistance to show, beyond a shadow of a doubt, that it had never even thought of making "speculative" loans, particularly of the stock-market variety.

>few bankers wished to expose themselves to such withering interrogation. To avoid such questioning, bankers refrained from applying for Federal Reserve emergency liquidity aid even though they needed it. This was especially so in the panicky situation of the October 1929 crash when bank depositors were seeking to cash in their checking deposits and take the cash from the banks. Instead of borrowing the reserves needed to meet the cash drain from the Fed and exposing themselves to "Direct Pressure" questioning, those banks failed in huge numbers

>founders of the Federal Reserve desired to end financial panics. In order to achieve this end, they created a decentralized collection of reserve depositories – the Federal Reserve banks. They also wanted to remove control of the financial system from Wall Street. policymakers understood financial panics as resulting from speculative excess, especially on Wall Street

>The Pecora Investigation included a variety of conflicts of interest, such as the underwriting of unsound securities in order to pay off bad bank loans, as well as "pool operations" to support the price of bank stocks.

>result of the Pecora Commission's findings, the United States Congress passed the Glass–Steagall Banking Act of 1933 to separate commercial and investment banking, the Securities Act of 1933 to set penalties for filing false information about stock offerings, and the Securities Exchange Act of 1934, which formed the SEC, to regulate the stock exchanges.[4]

>Banking Committee's hearings ended on May 4, 1934, after which Pecora was appointed as one of the first commissioners of the SEC

>>57091542
$77M of 1790=$2.6B 2023

>any portion of the $12 million foreign debt,[31] with $1.5 million in interest,[32] which was regarded as a "sacred obligation [to be] paid in full."[10]

>A significant portion of the nation's $40 million domestic debt [20] was owed to Patriots who had supported the War of Independence by loans or personal service. Many of them were combat veterans who, during demobilization in 1783,[13] had been paid in IOUs, "certificates of indebtedness"[33] or "securities" (not to be confused with the worthless Continental currency or bills of credit)[3] and redeemable when the government's fiscal order had been restored

>Schemes more in sympathy with the ex-soldiers who had relinquished their certificates to speculators at reduced rates were termed "discrimination" and called for paying the original holder of the security at full value and for reimbursing the current holder of the security at its purchase price. The combined payments would, however, exceed the denomination of the original certificate.[35]

>US Representative James Madison of Virginia offered his own variation of "discrimination" that would preserved the federal obligation of face value debt repayment.[30] In his version, current certificate holders would be reimbursed at their purchase price for the devalued certificate, and the balance would be handed to the original holder. The government outlay would match the face value of the original certificate.[36]

>Hamilton rejected both "repudiation" and "discrimination" and championed "redemption," the reserving of payment at full value strictly to the current holders of the certificates, with arrears of interest

>first session of the 1st Congress in September 1789, with the matter of establishing public credit unresolved, the legislature directed the new Secretary of the Treasury, Alexander Hamilton, to prepare a report on credit

>>57091563

>First Report on the Public Credit was delivered to Congress on January 9, 1790.

>absolutely required fidelity to creditors

>Before the government could resume borrowing,[10] Hamilton insisted for the $13 million in arrears of interest to be converted into principal, with payments at 4% on reissued securities.[42] The plan would be funded by pledging a portion of the government tariff and tonnage revenue irrevocably to the payment schedule.[43] Additionally, contracted debt would be serviced by sinking funds derived from postal service revenue that was earmarked for that purpose

>Rather than seeking to liquidate the national debt, Hamilton recommended for government securities to be traded at par to promote their exchange as legal tender equivalent in value to hard currency.

>Regular payments of the public debt would allow Congress to increase federal money supply safely, which would stimulate capital investments in agriculture and manufacturing.

>When the report was made public in January 1790, speculators in Philadelphia and New York sent buyers by ship to southern states to buy up securities before the South became aware of the plan. Devalued certificates were relinquished by holders at low rates even after the news had been received, which reflected the widely held conviction in the South that the credit and assumption measures would be defeated in Congress. The value of government certificates continued to fall months after Hamilton's scheme was published, and "the sellers speculated upon the purchasers."

>James Madison led a vigorous opposition to Hamilton's "redemption"[30][50] but fully supported the development of good credit

>Madison characterized Hamilton's "redemption" as a formula to defraud "battle-worn veterans of the war for independence" [30] and a handout to well-to-do speculators, mostly rich Northerners, including some members of Congress.[51]

>>57091576

>Hamilton acknowledged that many certificates had been obtained by wealthy individuals, but he considered the "few great fortunes" of minor significance and a "necessary evil" in the transition to sound credit

>key provision in Hamilton's fiscal reform was termed "assumption" and called for the 13 states to consolidate their outstanding debt of $25 million[68] and to transfer it to the federal government for servicing under a general funding plan

>Hamilton sought to "tie the creditors to the new [central] government"[73] by linking their financial fortunes to the success of his economic nationalism.[74] That would, in turn, gradually cause a decline in state authority and a relative increase in federal influence

>One of the effects of "assumption" would be to distribute the collective debt burden among all the states, the more solvent members paying a share of the more indebted ones.[78] Most of the southern states, except for South Carolina, had successfully paid down the bulk of their wartime debt.

>One of the effects of "assumption" would be to distribute the collective debt burden among all the states, the more solvent members paying a share of the more indebted ones.[78] Most of the southern states, except for South Carolina, had successfully paid down the bulk of their wartime debt.

>The "dinner-party bargain"[95][96] made Madison withdraw his opposition and permit passage of the Assumption Bill.[97] For his part, Hamilton agreed to suppress opposition for the permanent location of the nation's capital at Georgetown on the Potomac, the present site of Washington, DC.[96][98] Hamilton's support was superfluous, as the Potomac location had already been secured

>>57091584
>A zero-sum arrangement was contrived in which Virginia would pay $3.4 million to the federal government and receive exactly that amount in federal compensation.[99] The revision of Virginia 's debt, coupled with Potomac residence, ultimately netted it over $13 million

>Hamilton's report had the immediate effect of converting what had been virtually worthless federal and state certificates of indebtedness to $60 million of funded government securities

>interest alone on the national debt consumed 40% of the national revenue between 1790 and 1800.[56]

>>57091592
>United States v. Morgan, 118 F. Supp. 621 (S.D.N.Y. 1953), more commonly referred to as the Investment Bankers Case was a multi-year antitrust case brought by the United States Justice Department against seventeen of the most prominent Wall Street investment banking firms, known as the Wall Street Seventeen.[1][2][3]

Morgan Stanley & Co.
Kidder Peabody
Goldman Sachs
White Weld & Co.
Dillon Read & Co.
Drexel & Co.
First Boston Corporation
Smith Barney & Co.
Kuhn, Loeb & Co.
Lehman Brothers
Blyth & Co.
Eastman Dillon & Co.[5]
Harriman Ripley
Stone & Webster Securities Corp.
Harris, Hall & Co.
Glore, Forgan & Co.
Union Securities Corp.
>Excluded from the case were a number of prominent Wall Street firms, including Bache & Co., Halsey Stuart & Co., Merrill Lynch, Pierce, Fenner & Beane and Salomon Brothers & Hutzler among others.

>DJIA) rose from 776 in August 1982 to a peak of 2,722 in August 1987

>On the morning of Wednesday, October 14, 1987, the United States House Committee on Ways and Means introduced a bill to reduce the tax benefits associated with financing mergers and leveraged buyouts. Unexpectedly high trade deficit figures announced on October 14 by the United States Department of Commerce had a further negative impact on the value of the US dollar while pushing interest rates upward and stock prices downward.[10] As the day continued, the DJIA dropped 95.46 points (3.81 percent) to 2,412.70, and it fell another 57.61 points (2.39 percent) the next day, down over 12 percent from the August 25 all-time high. On Friday, October 16, the DJIA fell 108.35 points (4.6 percent)
On that Monday, the DJIA fell 508 points (22.6 percent), accompanied by crashes in the futures exchanges and options markets

>>57091601
> if an extended liquidity crisis in the securities industry began to threaten the solvency and viability of brokerage houses and specialists. This possibility first loomed on the day after the crash.[22] At least initially, there was a very real risk that these institutions could fail.[23] If that happened, spillover effects could sweep over the entire financial system, with negative consequences for the real economy as a whole.[24] As Robert R. Glauber stated, "From our perspective on the Brady Commission, Black Monday may have been frightening, but it was the capital-liquidity problem on Tuesday that was horrifying."[25]


>nvestors needed to repay end-of-day margin calls made on October 19 before the opening of the market on October 20. Clearinghouse member firms called on lending institutions to extend credit to cover these sudden and unexpected charges, but the brokerages requesting additional credit began to exceed their credit limit. Banks were also worried about increasing their involvement and exposure to a chaotic market.[27] The size and urgency of the demands for credit placed upon banks was unprecedented.[28] In general, counterparty risk increased as the creditworthiness of counterparties and the value of collateral posted became highly uncertain.[29]

>The Fed successfully met the unprecedented demands for credit[43] by pairing a strategy of moral suasion that motivated nervous banks to lend to securities firms alongside its moves to reassure those banks by actively supplying them with liquidity

>The Fed's key action was to induce the banks (by suasion and by the supply of liquidity) to make loans, on customary terms, despite chaotic conditions and the possibility of severe adverse selection of borrowers. In expectation, making these loans must have been a money-losing strategy from the point of view of the banks (and the Fed); otherwise, Fed persuasion would not have been needed

>>57091609
>general feeling that stocks were overvalued and were certain to undergo a correction, the decline of the dollar, persistent trade and budget deficits, and rising interest rates.[81] According to Shiller, the most common responses to his survey were related to a general mindset of investors at the time: a "gut feeling" of an impending crash", perhaps driven by excessive debt.

>There was a common perception that the market was overpriced, and that a correction was certain to occur.[9] At the same time tight monetary policy and a market expectation of continued tightening were driving up interest rates. Bad trade figures from August were announced in October. This created an anticipation that the Fed would raise interest rates again.

>the stock market appearing overextended and interest rates rising, a switch from stocks to bonds began to appear increasingly attractive.[83] Yet investors were also hesitant to make this move: "...everybody knew the market was overpriced, but everybody was greedy and didn't want to miss out on a continuation of the wonderful rise that had been going on since the beginning of the year. But they were very, very nervous

>>57091615
>second explanation for the crash lies in the Louvre Accord.

The central banks of Japan and West Germany had been vocal about their fears of rising inflation; this created an expectation that these countries would raise interest rates to reduce liquidity and quell inflationary pressures. If those countries raised their rates, then in order to keep all countries within the agreed range of each other, the US would be expected to raise rates as well.[88] When the Bundesbank followed through on its remarks and took steps to raise short-term interest rates, US Treasury Secretary James Baker publicly clashed with the Germans, making remarks that were interpreted as a threat to devalue the dollar.[89] Even under normal circumstances, a weaker dollar would tend to make US stocks look less attractive to foreign investors.[90] These remarks, however, created shock and panic among investors outside the US.[91] They raised the prospect of a currency war, or even the collapse of the dollar

futures and options–are functionally a single market, given that the price of any particular stock is closely connected to the prices of its counterpart in both the futures and options market.[95] Prices in the derivative markets are typically tightly connected to those of the underlying stock, though they differ somewhat (as for example, prices of futures are typically higher than that of their particular cash stock).[96] During the crisis this link was broken.[97]

When the futures market opened while the stock market was closed, it created a pricing imbalance: the listed price of those stocks which opened late had no chance to change from their closing price of the day before. The quoted prices were thus "stale" and did not reflect current economic conditions; they were generally listed higher than they should have been (and dramatically higher than their respective futures, which are typically higher than stocks).[98]

I got my house re sided.

>>57091621
>decoupling of these markets meant that futures prices had temporarily lost their validity as a vehicle for price discovery; they no longer could be relied upon to inform traders of the direction or degree of stock market expectations. This had harmful effects: it added to the atmosphere of uncertainty and confusion at a time when investor confidence was sorely needed; it discouraged investors from "leaning against the wind" and buying stocks since the discount in the futures market logically implied that investors could wait and purchase stocks at an even lower price; and it encouraged portfolio insurance investors to sell in the stock market, putting further downward pressure on stock prices.[99]

>gap between the futures and stocks was quickly noted by index arbitrage traders who tried to profit through sell at market orders. Index arbitrage, a form of program trading,[100] added to the confusion and the downward pressure on prices

>>57091625
>Portfolio insurance is a hedging technique which seeks to manage risk and limit losses by buying and selling financial instruments (for example, stocks or futures) in reaction to changes in market price rather than changes in market fundamentals.

>they buy when the market is rising, and sell as the market falls, without regard for any fundamental information about why the market is rising or falling.

>it is an example of an "informationless trade" that has the potential to create a market-destabilizing feedback loop..the report of the Chicago Mercantile Exchange found the influence of "other investors—mutual funds, broker-dealers, and individual shareholders—was thus three to five times greater than that of the portfolio insurers" during the crash

>The potential for computer-generated feedback loops that these hedges created has been discussed as a factor compounding the severity of the crash, but not as an initial trigger.

>a volatile and uncertain market, investors worldwide were inferring information from changes in stock prices and communication with other investors in a self-reinforcing contagion of fear. This pattern of basing trading decisions on market psychology is often referred to as one form of "noise trading", which occurs when ill-informed investors "[trade] on noise as if it were news"

significant amount of trading takes place based on information which is unquantifiable and potentially irrelevant, such as unsubstantiated rumors or a "gut feeling".[117] Investors vary between seemingly rational and irrational behaviors as they "struggle to find their way between the give and take, between risk and return, one moment engaging in cool calculation and the next yielding to emotional impulses".[118] If noise is misinterpreted as meaningful news, then the reactions of risk-averse traders and arbitrageurs will bias the market, preventing it from establishing prices that accurately reflect the fundamental state of the underlying stocks

>>57091623
Are you the guy in Wyoming?

>>57091651
>After Black Monday, regulators overhauled trade-clearing protocols to bring uniformity to all prominent market products. They also developed new regulatory instruments, known as "trading curbs" or "circuit breakers", allowing exchanges to temporarily halt in instances of exceptionally large price decline; for instance, the DJIA.[124] The curbs were implemented multiple times during the 2020 stock market crash.[125]

>the response of the Reagan administration to the crash was to deliberately let both interest rates and the value of the dollar fall to provide liquidity. They later resumed some interventions on behalf of the dollar until December 1988, but eventually it became clear that "international currency coordination of any kind, including a target zone, is not possible."[127]

>The crash of 1987 altered implied volatility patterns that arise in pricing financial options. Equity options traded in American markets did not show a volatility smile before the crash but began showing one afterward.[128]

>The US dollar continued to weaken in 1987 against the Deutsche Mark and other major currencies, reaching a low of 1.57 marks per dollar and 121 yen per dollar in early 1988

>over the next 18 months, reaching over 2.04 marks per dollar and 160 yen per dollar, in tandem with the Federal Reserve raising interest rates aggressively, from 6.50% to 9.75%

>>57091671
Among these policies and developments were the passage of the Coinage Act of 1834, actions pursued by Mexican President Antonio Lopez de Santa Anna, and a financial partnership between Biddle and Baring Brothers, a major British merchant banking house.[307] British investment in the stocks and bonds that capitalized American transportation companies, municipal governments, and state governments added to this phenomenon.[308]

In 1836, President Jackson signed the Deposit and Distribution Act, which transferred funds from the Treasury Department’s budget surplus into various deposit banks located in the interior of the country. The treasury secretary could no longer regulate lending requirements in the deposit banks as a result of this legislation. Soon afterward, Jackson signed the Specie Circular, an executive order mandating that sales of public lands in parcels over 320 acres be paid for only in gold and silver coin. Both of these measures diverted precious metals from the Atlantic Coast to western regions, leaving the nation’s financial centers vulnerable to external shocks

The price of cotton steadily declined during Jackson's second term. In late 1836, the Bank of England began denying credit to American cotton producers. The Bank's directors raised interest rates from three to five percent and restricted some of the open trade practices that they had previously granted to American import merchants. The directors had grown alarmed that their specie reserves had dwindled to four million pounds, which they blamed on the purchase of American securities and poor harvests that forced England to import much of its food (if food imports created a trade deficit, this could lead to specie exports). Within months, cotton prices entered a full free-fall.[317][318][319]

In May, New York banks suspended specie payments, meaning that they refused to redeem credit instruments in specie at full face value

>>57091671
>>57091651
>>57091633
>>57091621
>>57091615
>>57091609
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>>57091592
>>57091584
>>57091576
>>57091563
>>57091542
>>57091525
>>57091505
>>57091493
I ain't reading all this copy and paste schizo bullshit. Merry Christmas to you too ass hole!

>>57091681
>>57091671
>>57091651
>>57091633
>>57091621
>>57091615
>>57091609
>>57091601
>>57091592
>>57091584
>>57091576
>>57091563
>>57091542
>>57091525
>>57091505
>>57091493
TLDR; buy VOO

>>57091680
>194 of the 729 banks with charters closed their doors.[325] Thousands of people in manufacturing districts lost their jobs as credit dried up.[326][327] Farmers and planters suffered from price deflation and debt-default spirals. By the summer of 1842, eight states and the Florida territory had defaulted on their debts, which outraged international investors

>The Whigs attacked Jackson's specie circular and demanded recharter of the Bank. Democrats defended the circular and blamed the panic on greedy speculators. Jackson insisted that the circular was necessary because allowing land to be purchased with paper would only fuel speculator greed more, thereby worsening the crisis. The circular, he claimed, was necessary to prevent excessive speculation

>Van Buren's solution to the Panic of 1837 was to create an Independent Treasury, where public funds would be managed by government officials without assistance from banks.[330] A coalition of Whigs and conservative Democrats refused to pass the bill. It was not until 1840 that the Independent Treasury system was finally approved

>When Whig candidate William Henry Harrison was elected in 1840, the Whigs, who also held a majority in Congress, repealed the Independent Treasury, intending to charter a new national bank. However, Harrison died after only a month in office, and his successor, John Tyler, vetoed two bills to reestablish the Bank.[332] The nation returned to deposit banking.[333] The Independent Treasury was recreated under the Polk presidency in 1846.[332] The United States would not have another central banking system again until the Federal Reserve was established in 1913

Won't someone please break this buck.

>>57091666
Yep

VIX is only 13.

Why does the forest get quiet.

Why do the birds stop chirping.

>>57091681
Its the american financial history in short blurbs and phrases. Use context clues for the relevant events. I cannot and will not go over every facet of interconnected
>politics/banking/economics/financial/monetary theory
So just pick and choose a post and be happy that I did the work for you

>>57091706
Why does the sun go on shining?
Why does the sea rush to shore?
Why do the birds go on singing?
Why do the stars glow above?

>>57091717
>>57091706
because you touch yourself at night

>>57091711
You vomited all over this bread, and soon we will need a fresh one. Little to nothing was gained.

>>57091717
>>57091721
You idiots. Posting Satanic Hollywood music lyrics and making jokes about masturbation.

This is the stock market general. Equities.

One of the most important equity indices is VIX. The volatility index.

VIX is relatively low.

13.

Tell me what that means.

Why do animals run back to their nest or burrows when the forest gets quiet. When the birds stop chipring.

>>57091717
Why does the moon go bright and dark?
Why does the wind whisper in my ear?
Why do the trees shed their bark?
Why are we here?

I am on my third bottle of champagne. Merry Christmas. Gold to outpace stocks next 5 years. I was at a Christmas party today with my family and had to leave right when the hot girls showed up. I want to run through a plate glass window. I love you stupid smiggers.

You are all malcontent Japanese animated toddler porn masturbation addicts who fundamentally misunderstand the stock market. You never listen.

VIX. VVIX.

>>57091729
But you've been posting this for months. Based on that, it must mean a rally is coming.

>>57091751
We have. Not me. We have been talking about this for months. The Vomma Hurricane.
When the Storm comes. You'll know. But it'll be too late.

>>57091747
Vix of 13 isn’t even that extreme and the curve shows immediate normalization is priced in
>Im short vol

>>57091758

>>57091700
Heard that women usually fuck dogs and horses in Wyoming. Like there's specifically an issue where women have horse cum ruin their clothes and the first change of clothes from getting drenched by horse cum is seen as a coming of age rite of passage for women in Wyoming and there's a big party hosted for it.

>>57091764
Volga hammer. The volatility surface.
>>57091773
But now the volatility regime is different. There's a chance for a vanna slingshot after zamma perps are swapped.

>>57091780
Naw.

>>57091794
What kind of food do people in Wyoming eat.

>>57091795
Lots of beef. Hamburgers, steaks.

>>57091785
>he doesn’t know about the wanna basis trade equalizing out the vanna white curves

>>57091800
Do people in Wyoming like a specific preparation of hamburger or steak? Is there enough electricity / infrastructure for slow cooking and smoking meats in Wyoming?

>>57091816
Yeah, we do make chili in slow cookers. And we smoke meat, both in electric smokers and in pellet smokers. Casper Wyoming isn't THAT different from Denver Colorado, when it comes to what is available for resources. Although, if this is just bait, I took the hook,

Goodnight and Merry Christmas ya'll.

>>57091700
Checked. Based wind enjoyer.

>futures

>>57091700
What are you doing to keep Wyoming nigger-free?

>>57091861
Damn breh.

>>57089044
Merry Christmas to American Chads only. Sorry third-worlders shine my shoes

>>57091623
when are you replacing your chainlink fence with wood

chainlink feels so dystopian

>>57091700
Can you score me an invite to Wyoming? I kind of want to live there

>>57089051
Merry Christmas, I’m faded and can’t wait for open!

>>57091881
>Wyoming nigger free
So I guess that makes Kanye an honorary Aryan

Bobo are wrong again.

Does it ever get tiring being wrong?

>>57090560
>The Chink putting firecrackers in his mouth.
Caught me off guard, keking my ass off. Thank you.

Jannies need to clean up this board. I know they weren't authorized to take time off for the holidays.

Chyna is sorry about the gaming crackdown

>>57092081
Naucz się pisać poprawnie po angielsku, analfabeto, chuju.

WTFWT?

>>57091623
do americans actually live like this?

>>57092140
how much money are you about to lose in Puts?

>>57092188
Yes

>Germany housing bubble popped, prices in freefall

>Canada trying to put out universal basic income

>markets are pumping again

Bros I don't feel so good...

>>57092193
No more military aid for leftist countries that interfere in US elections.

>>57092160
niggers, obviously

Buy vix puts.

>Bobo thought the Christmas rally was over

HAHAHAHAHAHA

NO NIGGERS ALOUD ON SMG

i hope you guys bought MARA puts last friday like i told you to

>>57092111
Give me a QRD?

>>57091729
>>57091758
>pajeet of doom keeps doomposting despite being wrong for over a year

https://www.youtube.com/watch?v=zqH-xiueqNA

Are markets closed today as well? What the fuck... OPEN THE FUCKING MARKETS!

>>57090560
>This video has been removed for violating YouTube's Terms of Service
Not like this... /smg/ update bros, I don't feels so good...

>>57092600
>Give me a QRD?
They approved like 2000 new online games after online gaming stocks crashed kek

>can't trade today because 2nd Christmas day is a holiday too in my country
AAAAHHHH

Will the Polish government stop trying to get more Biden gibs by shilling in /smg/ after Trump wins the election in a landslide?

>>57092781
Why the fuck is the Polish market closed today?

>futures

bros what happened, I thought we were mooning?

>>57092787
Christmas

>>57092775
I see all the chink index down

>>57092797
If you mean gold futures - indeed they are mooning, got miners in portfolio?

https://youtu.be/wdk5fK0uOWU?t=175
hnnng why she do that naked shoulder thing
i want to cum in her now

>>57093020
le wild inseminator appears

>>57090560
>hate speech
Damn. Looks like I missed a good one

>>57093020
That's why she does that.

>>57093106
Well, he's drinking again. I was hoping he'd do one sober. I also miss the notebook.

>>57091847
Does not checking anon ever check? I do applaud the discipline. I use to obsessively check my account several times a day in the early days. Now I don’t bother much anymore.

highest MACD of the year for the s&p
i love santa

merry xmas bizrealites.
Im financially bored, 168k all in CDs
whats a safer way to get higher returns

>>57093135
why not in DVDs?

>>57093135
>>57093152
I prefer betamax tapes, but you do you

>>57092011
My favorite book is 1984.
>>57092016
All are welcome here. If you make it to Wyoming, let me know, we'll grab lunch.

>>57091623
Good for being a homeowner but ngl, that house is kinda ugly. May want to invest in some better curb appeal should that market dictate it.
>>57093115
I miss the notepad and hands only format of the early days.

>>57093135
Last week Schwab had 3mo CDs at 5.51%

Wtf this is the worst thread, wtf was this copypasta I didn't read?

Also kek, picrel actually happened@ oil. Checked it on 2 different brokers.

Buy llap

>>57093172
really? i checked it last it was dipping below 5% for almost all terms, my local banks are still offering the mid 5s.
My biggest fear is that rates will drop next year and the most return you can get is like 3.5% but borrowing will still be like 5% so no more free money, but also no more easy safe returns, gonna be an interest rate purgatory later 2024

top performing stonks over the past year
which is your favorite, anon?

>>57093275
>>57093275
Friday they were 5.25%. I've got one of my quarterly CD maturing in February and will only roll it for another year if rates are above 5%.

>>57093170
The siding was 30,000. I'm going to try to improve the lawn over the next few years. No more major investments though.

>Oil

>>57093289
AMD was the one I made the most from.

>>57091623
looks stout

>>57093289
GreenX

>>57093450
*GreenX Metals

>>57091623
Americans live like this and see no problem.

>>57091623
Murricans can't into golden ratio

>>57089529
Dollar cost average into dividend paying stocks and ETFs over the long term to remove this behavior. Dips mean nothing when you are investing in quality funds and companies. (SCHD, DGRW, O here)

>>57093479
We all know that! Look at our letter sized paper.

Schwab 3mo CD is 5.35% today

Happy Boxing Day

>Oil

>>57091623
>Americans call you poor from shacks like these
are they taxed by window area?

>>57093568
I think bigger windows are too heavy to be supported by their cardboard walls.

>>57093542
so basically no change for the past six months, they've all been paying 5.4 or 5.35

>>57093604
Like the other anon mentioned, I don't think we'll see anything above 5% in 2024

>>57091623
You need some potted cypress on each end of your garage door, and some kind of big planter box (maybe a trellis as well) for the right side of your house under that window. Way too much uncomfortable blank space. Some kind of tree in the yard wouldn't hurt. Maybe a motion light or some other kind of light fixture above the garage as well. Thr good ol American flat on a pole would do well also.

>>57090125
Rocker really let himself go

>>57093625
i don't think he needs any of that shit, and should allocate the money towards buying shares of SHOT.

>>57090560
of course it gets deleted before i see it
upload it to rumble

>>57091911
All praise the fat americans, chads, chadette's, come all and be served by your danish wegovy spouting overlords, 10% of .dk's GDP makes danish boys happy boys :)

>>57093666
Shut up nigger

AAAAH SHOULD HAVE BOUGHT OIL

>>57093704
Hey! Fuck you buddy!

is the baker out on pto?

I just sold all my Oil

>>57093742
>>57093742
>>57093742
new
>>57093742
>>57093742
>>57093742
new
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>>57093742
>>57093742
new
>>57093742
>>57093742
>>57093742
new

>>57093723
Not your buddy, pal