Saturday, April 03, 2021
Fascinating! Watch your portfolio!-----Rehypothecated Leverage: How Archegos Built A $100 Billion Portfolio Out Of Thin Air... And Then Blew Up | ZeroHedge
Rehypothecated Leverage: How Archegos Built A $100 Billion Portfolio Out Of Thin Air... And Then Blew Up | ZeroHedge
As a reminder, and as we previously discussed, we already knew how Archegos was building up stakes in its various holdings: unlike most other investors, the fund never actually owned the underlying stock or even calls on the stock...
"One week after the biggest, and most spectacular hedge fund collapse since LTCM, we now have an (almost) clear picture of how Bill Hwang’s Archegos family office managed to single-handedly make a boring media stock the best performing company of 2021, but then when its luck suddenly ended it was margin called into extinction, leading to billions in losses for the banks that enabled what Bloomberg has dubbed its "leveraged blowout."
Thanks to detailed reports by the Financial Times and Bloomberg, we now have the missing pieces to complete the picture of the biggest hedge fund implosion of the 21st century.
...Instead, the stock that Archegos was long would be "owned" by its prime broker, the same entity that allowed it to enter into TRS in the first place. As such Archegos also never had any disclosure requirements, allowing it to transact completely in the dark while being fully compliant with SEC disclosure requirements - since it didn't own the underlying stock, Archegos did not have to disclose it.
Simple and brilliant.
...Call it a side effect of building castles on crooked foundations in an artificial, fake, Fed-supported market.
Is another market panic what the Fed wants? Or what the Biden admin wants? Of course not.
Which is why we will get a token Congressional hearing where politicians care more to hear themselves talk than listen to the answers, the banks will slap a few hands, one or two small sacrificial hedge funds will be shut down, and the world will move on, especially once Archegos is no longer on the front page of the financial media.
It's also why when the next major hedge fund implosion does happen, it will be far more catastrophic..Read all.
History for April 3
History for April 3 - On-This-Day.com
William M. (Marcy) "Boss" Tweed 1823 - Democrat Political boss, known for his Tweed "Ring" that stole millions of dollars from New York City
- 1513 - Spanish explorer Juan Ponce de Leon landed in Florida. He had sighted the land the day before.
- 1860 - The first Pony Express riders left St. Joseph, MO and Sacramento, CA. The trip across country took about 10 days. The Pony Express only lasted about a year and a half.
- 1910 - Alaska's Mt. McKinley, the highest mountain in North America was climbed.
- 1942 - The Japanese began their all-out assault on the U.S. and Filipino troops at Bataan.
- 1946 - Lt. General Masaharu Homma, the Japanese commander responsible for the Bataan Death March, was executed in the Philippines.
- 1948 - U.S. President Harry Truman signed the Marshall Plan to revive war-torn Europe. It was $5 billion in aid for 16 countries.
- 1968 - Martin Luther King Jr. delivered his "mountaintop" speech just 24 hours before he was assassinated.
- 1986 - The U.S. national debt hit $2 trillion.
Friday, April 02, 2021
This is our ONLY local "newspaper"-----Whitmer, Gilchrist & liberal activists prepping to fight Republican voting bills, potential petitions - mlive.com
Whitmer, Gilchrist & liberal activists prepping to fight Republican voting bills, potential petitions - mlive.com
"(democrat Lt. Gov.) Gilchrist joined Tiffany Muller, executive director of the liberal PAC End Citizens United during a Thursday, April 1 media availability to discuss what they’re calling “voter suppression” laws from Michigan Republicans.
- “We have the power to veto this legislation should it ever pass the Legislature,” Gilchrist said. “As (Muller has) alluded to, Republicans are so afraid of voters, so willing and eager to avoid the will of the people...and run toward their own small, petty, political and partisan goals that they are now working to take advantage of loopholes to completely undermine the integrity of the voting process by going against the will of the people, as was so clearly stated three years ago.”
- Some of the proposed measures in the (GOP) Senate package include pre-registering 16-year-olds to vote if they have some form of state ID, easing electronic voting for active duty overseas military, overhauling county canvassing of election results and not allowing Benson or future secretaries of state to use their likeness on election material paid with public money.
- “It’s a gross abuse of the system,” said Muller, “especially given its goal to prevent people, particularly Black and brown people from voting.”...Read all.
How Stupid are American Voters --- Very!? - Alicia Colon
How Stupid are American Voters --- Very!? - Alicia Colon
"Perhaps stupid is not the right word.
Gullible is not right either.
It's really hard to pinpoint the main reason behind the disastrous state of our country but the cold hard fact is that many Americans have fallen for two of the biggest hoaxes perpetrated by the left, the media and corrupt politicians.
...American voters have rarely come out in huge numbers on Election Day.
But last year for the first time in many decades, millions of people whose eyes had been opened to the hoaxes of
- covid-19 and
- global warming
The left had been planning a coup many years ago because they had control of the mainstream media to spew the politics of fear and envy and of course the stay at home voters allowed the Manchurian candidates to seize the legislatures, city councils and school boards.
The average voter in the blue states can't name their local legislator or congressman yet these individuals made it possible to change voting laws that made fraud a cinch...Read all!
They don't seem to be afraid - Wretchard.com
They don't seem to be afraid - Wretchard.com
...“Russia’s destabilizing actions undermine the de-escalation intentions that had been achieved through [last year’s agreement],” chief Pentagon spokesman John Kirby said Wednesday.
- The Russians are pushing Biden in Ukraine.
“Additionally, we are aware of Ukrainian military reports concerning Russian troop movements on Ukraine’s borders.”
Secretary of State Tony Blinken reaffirmed the “unwavering support” of the United States for Ukraine’s territorial integrity in the face of “Russia’s ongoing aggression in the Donbas and Crimea,”...--CNN
- Biden’s China Challenge: Counter Its Perception of American Decline
If China is convinced, as its representatives and media organizations proclaim, that the U.S. and the entire Western liberal order are in the early stages of a long-term decline, an emboldened Chinese leadership may overstep, become overly provocative and compel America to respond forcefully.
The risk arises in many areas, including in the South China Sea, in commerce and, above all, in Hong Kong and Taiwan.--WSJ...Read all.
What Modern Monetary Theory Is and Why Leftists Love It
What Modern Monetary Theory Is and Why Leftists Love It
"Tall, bearded, with gentle brown eyes, Occupy Wall Street veteran Jesse Myerson spends his days knocking on doors in the rundown neighborhoods of southern Indiana reminding voters of the enormous wealth of their country.
- Everyone knows governments need to tax before they can spend.
- What Modern Monetary Theory presupposes is, maybe they don't.
His message, as an organizer for the progressive grassroots group Hoosier Action, is that the United States is a spectacularly rich nation and some of that wealth could, and should, be spread to the poor people of southern Indiana.
...He says his group’s biggest competition for the hearts and minds of poor Indianans is a white supremacist group called the Traditionalist Workers’ Party.
...His optimism about government spending is due to his exposure to Modern Monetary Theory, a school of economics that says our panic over government budget deficits is delusional, a misguided and atavistic remnant of the gold standard.
MMT has become increasingly influential on the left, giving progressives like Myerson a reason to believe that a high price tag shouldn’t stop the US from instituting wide-ranging social reforms like Medicare for all.
Modern Monetary Theory’s basic principle seems blindingly obvious:
Under a fiat currency system, a government can print as much money as it likes...Read all.
The 'most TERRIFYING story I have EVER had to report': Glenn Beck reveals newly approved CA school curriculum - TheBlaze
The 'most TERRIFYING story I have EVER had to report': Glenn Beck reveals newly approved CA school curriculum - TheBlaze:
California's Board of Education voted unanimously to approve a new, multimillion-dollar Ethnic Studies Model Curriculum, which will be offered statewide with many of the state's largest school districts making it a requirement for graduation. According to National Review, the curriculum is "probably the most radical, polemical, and ideologically loaded educational document ever offered up for public consideration in the free world."
The 10 Radical New Rules That Are Changing America
The 10 Radical New Rules That Are Changing America-- VICTOR DAVIS HANSON 
- There are 10 new ideas that are changing America, maybe permanently.
1) Money is a construct. It can be created from thin air. Annual deficits and aggregate national debt no longer matter much...
2) Laws are not necessarily binding anymore...
3) Racialism is now acceptable...Read all.
And the goons who destroyed our cities walk free?-----Politico: Biden Admin Will Be “Embarrassed” When Most Capitol Hill “Insurrectionists” Receive No Jail Time
Politico: Biden Admin Will Be “Embarrassed” When Most Capitol Hill “Insurrectionists” Receive No Jail Time
Democrats were eager to seize upon the events at the Capitol on January 6th as their Reichstag moment in order to clamp down on “domestic terrorism,”...
In that, they were successful.
- “Although prosecutors have loaded up their charging documents with language about the existential threat of the insurrection to the republic, the actions of many of the individual rioters often boiled down to trespassing.”
Democrats were eager to seize upon the events at the Capitol on January 6th as their Reichstag moment in order to clamp down on “domestic terrorism,”...
In that, they were successful.
The media was eager to help them with their goals and are still claiming that the Capitol Hill “insurrection” claimed five lives.
...This has Politico fretting about how the Biden administration will be “embarrassed” when all those Americans they eagerly and publicly condemned as traitors and seditionists and insurrectionists walk on misdemeanor trespassing charges and the like...Read all.
...This has Politico fretting about how the Biden administration will be “embarrassed” when all those Americans they eagerly and publicly condemned as traitors and seditionists and insurrectionists walk on misdemeanor trespassing charges and the like...Read all.
Publisher HarperCollins Is Pushing Radical Trans Agenda on Elementary School Kids
Publisher HarperCollins Is Pushing Radical Trans Agenda on Elementary School Kids
Because, apparently, we aren’t already getting enough of the transgender agenda shoved in our faces every other day of the year, so the trans agenda needs its own day to feel more empowered to indoctrinate the public.
"Did you know that March 31 is something called the Transgender Day of Visibility?
Well, it’s bad enough being an adult, but sadly, if you want to protect your kids from the transgender agenda, it’s becoming increasingly more difficult to do so.
Publisher HarperCollins is using their children’s book imprints to push the radical trans agenda on kids as young as eight years old.
On Wednesday, the HarperCollins Twitter account for promoting their books for middle-grade children tweeted about the Transgender Day of Visibility and posted a link to one of the publisher’s microsites, which is promoting five books “by trans & nonbinary authors” in order to “affirm how necessary it is for kids of all gender expressions & identities to know that trans kids deserve safety, acceptance, & respect” or something...Read all.
Here Are Some of the Most Outrageous Line Items In Biden's $2.2T 'Infrastructure' Bill
Here Are Some of the Most Outrageous Line Items In Biden's $2.2T 'Infrastructure' Bill
"...Breitbart News broke most of the bill down but here are some of the more outrageous line items:
— $400 billion toward expanding access to quality, affordable home- or community-based care for aging relatives and people with disabilities.
— $213 billion to produce, preserve, and retrofit more than two million affordable and sustainable places to live (and we know who will and who won’t ‘qualify’ for these homes, don’t we?)
— $174 billion to win the electric vehicle market
— $80 billion to address Amtrak’s repair backlog; modernize the high traffic Northeast Corridor; improve existing corridors and connect new city pairs (when will we learn that train travel as Amtrak does it is obsolete? Now bullet trains, that’s something else)
— $56 billion in grants and low-cost flexible loans to states, Tribes, territories, and disadvantaged communities across the country
— $50 billion to create a new office at the Department of Commerce dedicated to monitoring domestic industrial capacity (obviously multi-year funding but $50 billion for a new agency?)
— $48 billion in American workforce development infrastructure and worker protection (huh?)...Read all.
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