iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,433 Blog Posts

I Cannot Think of a Title For this Post

I deleted my previous post, after learning about the tragedy in Connecticut. I was out with my wife when the details of the story crossed my wires and I’ve been physically affected by it ever since. I do a lot of joking here, but this sort of event really gets me depressed.

Being a father of 3, knowing how precious the lives of children are, I am profoundly sincere when I say to anyone affected by the monster who hurt our most innocent, I am sorry.

I really don’t know what to think when I read news like this. How could anyone commit such a horrendous act, especially to those who cannot defend themselves and just want to believe in magic. Not only did this bastard kill and injure scores of teachers and children, he ruined the lives of hundreds, if not thousands.

I realize my stupid pistol investment went lower after the news hit–but I couldn’t care less. My problems are trivial when compared to the ones who have to deal with real loss.

Not to be long winded about it, but my family was disrupted as a child when my Father was killed by the bullet from a handgun. As much as people want to believe guns are the problem, that making them illegal will make everything better, they’re wrong. This country is diseased through an acute lack of morality and integrity. Everything about America has become rotten to the core. I am disgusted by this news, but also saddened for what it says about us.

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Stop Hating on The Clam

Everywhere I turn people hate on the clam, mock him even, for implementing QE. People of a lower cloth think they know more than the good Dr., declaring in dismissive tones “the Fed is wasting their time with QE; the economy still sucks.” Immediately after making these statements, they eat whole bags of cheesed doodles and wash it down with pop of the soda.

Plainly and without reservation, you’re just an idiot. Who are you to question the heavy pimp hand of Benjamin Bernanke?

His job is to keep stock prices stable to higher, not create jobs–you fucking faggots.

Is it Bernanke’s fault when the dick-grabbers from Congress can’t balance a budget or effectively govern the economy?

No.

But ask yourself this question the next time you hate on the The Bearded Clam:

Where would the stock market be without QE and what type of debilitating deflationary effects would’ve gripped the economy by now without it?

The Bearded Clam knows all, an American hero of legendary proportions. The lot of you are merely citizens pushing pencils.

Fuck off.

NOTE: Major props to ChessnWine for killing an Apple short sale trade from yesterday inside 12631. Both Chess and RC absolutely killed it in 2012.

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Congratulations to the Newly Elected Interim Tabbed Bloggers

Rhino ran away with the popular vote, trouncing “The People’s Blogger” MAXIMUS by 50 votes. But MAXIMUS did well on his own accord, coming out from obscurity to seizing more than 20% of the vote. Both Raul3 and Elizamae were neck and neck in a “too close to call” conundrum, so we held Special Elections.

As a result of said Special Elections, outright tomfoolery ensued, as both candidates went Tammany Hall on the vote–which resulted in wild and nonsensical swings, none that can be explained by conventional means, without the application of brazen corruptness.

Nevertheless, we are not here to investigate voter improprieties. We will leave that for the sexual deviants to sort out. We are here to crown a new tabbed blogger, one that will ENTERTAIN as well as EDUCATE the readership.

I give you RAUL3.

 

The easy part is finished. Now let’s see if any of you are good enough to stay here.  On March 13th of 2013, if your blog traffic is not sustaining the 3% threshold of overall site traffic, you will be fired. No hard feelings. Don’t ask for a reprieve. You will be let go to wander off into the dark, cold wilderness of The Blogger Network.

The Board of Directors at iBankCoin have mandated that its bloggers uphold the standards of what this site was built around, which is never to conform or settle for mediocrity. To accomplish this task, we are to work harder and smarter than everyone else. If you can do these things and communicate lucidly, the people will love you and embrace you as one of their own.

If not, it’s a set of steak knives of the shoe for your pathetic asses.

 

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SPECIAL ELECTIONS: Elizamae versus Raul3

Voting will be continuous until midnight. Our first two of three interim tabbed bloggers have been elected; now you must decide on a third, since the previous election was ‘too close to call.’

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ALERT: iBANKCOIN ELECTIONS ARE ‘TOO CLOSE TO CALL’

Amidst chatter of widespread voter suppression, due to roaming bandits and the Royal Praetorian Guard, “The Fly” has declared the election to be “too close to call” with regards to the 3rd and final spot–currently being fought for by ELIZAMAE and RAUL3.

At 7pm, the good folks from iBankCoin will hold special elections, a run off, between the two, in order to offer a ‘greater quality election’ to the people of iBankCoin.

As an aside, congrats to both Rhino and Maximus for seizing your spots. Let’s see if you’re good enough to hold them.

NOTE: The Special Elections will end at midnight.

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What To Make of This?

The Federal Reserve intends to print money until the economy is healed, yet stocks trade down and gold/silver have plunged. There is an extreme sense of cynicism in the air, also fueled by the lack of progress on the Fiscal Cliff front. It is clear to any market participant that the help of the Fed has been the only thing holding this economy and stock market together.

You will hear voices in the wilderness, suggesting that “tax cuts don’t matter” because people are rich as fuck and the economy will do just fine. These people need to retake their econ 101 courses and learn that when you take money away from people, they spend less. Government is always the worst stewards of capital and they don’t really give a shit about stocks, except when collecting capital gains taxes.

In other words, they want to have their cakes and eat them too. This is a very delicate line to tow. My money is heavily biased long and I am at my lowest cash levels in a month, at around 15%.

Today’s market teaches us that nothing is guaranteed. We were supposed to rally yesterday and today, but instead we reversed and plunged lower.

That is the stock market and sometimes it’s a fucking bitch.

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The Market Votes No

More than 60% of stocks are lower, following yesterday’s trap. I realize most of you are transfixed on the elections. We’ll get to that later on. Don’t worry about that.

Did you know that VHC is scheduled to attend court this Friday for mediation with Apple? In other words the good judge wants Apple to settle and get this over and done with. Some argue Apple is fixing to appeal. But on what grounds? It’s entirely possible that Apple will be hit with an injunction, just like what happened to RIMM, many years ago versus  NTP.

The bottom line with VHC is this:

They will continue to win lawsuits against all of the electronic manufacturers because their patents are the real deal. Eventually, licensing deals will be signed and after the ink dries, the stock price will explode to the upside.

Both gold and silver are lower today, all part of the Fed trap. Give it some time, both gold and silver will do just fine.

NOTE: It appears Rhino, MAXIMUS and Raul3 are locks.  However, crazier things have happened and the polls aren’t closing until we have a clear winner or at midnight tonight. So vote away small plebs, vote away.

UPDATE: I added to my EXK position.

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BEHOLD: ELECTIONS ARE HERE!

Vote now and have your say. The people shall determine what is righteous and fair in these hallowed halls.

UPDATE: MAXIMUS is up big on Intrade.

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iBankCoin’s Pre-Election Analysis

Tonight is the big night. At midnight the readers of iBankCoin will elect three tabbed bloggers. The drama has been thick and as always belligerent.

It started off with rumors of high level staffers defecting the Chuck Bennett campaign, amidst allegations of ‘sexual indiscretions.’ Chuck hasn’t made an official statement. However, he communicated with iBankCoin’s Orient Office, declaring his withdrawal from the campaign.

Then we were all amazed and entertained by the ascendency of MAXIMUS (also endorsed by “The Fly”). From finishing 5th in the last election poll to being a front runner in the race is truly amazing. Will his late hour surge last or will he fizzle out?

The current front runner is Rhino and he’s been having a rough day, dealing with the rise of Maximus. Ever since the natural order of things has been disrupted, Rhino has gone unhinged, making all sorts of wild allegations on the site and even on Twitter.

Both Elizamae and Raul3 have taken the safe rout, just like Romney. After surprising iBankCoin in last week’s semi-final elections, both candidates were thought to be shoe-ins, BEFORE the ascendency of Maximus. One thing is for certain, there isn’t room for everyone.

Lastly, DCHSN6 has all but vanished from the field. No one knows where he went or even if he’s alive. At the present, he’s a lock to finish last place.

VOTING BEGINS AT MIDNIGHT.

NOTE: To get up to the minute updates on what the candidates are saying, read The Blogger Network.

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