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The first thing to understand about Venezuela today is that it’s becoming exceedingly difficult to even get here. Or get out. Nearly every major regional and international carrier has discontinued service to/from Caracas. Due to safety concerns amid all the chaos and violence here, Lan Airlines in Chile (now merged
My friend Adam (not his real name) lives in Puerto Rico and sent me a startling update… Adam and his family evacuated the island for the hurricane, but he’s been in close contact with his friends who stayed on the ground. And the situation is bad. According to his contacts
Earlier today in Sri Lanka’s Colombo International Airport, a passenger was arrested by local authorities and found to have stuffed nearly $30,000 worth of gold into his rectum. That’s nearly 1 kilogram of gold. In his ass. The gold had been carefully wrapped in plastic and included four small bars
Today’s the day. After months of preparing financial markets for this news, the Federal Reserve is widely expected to announce that it will finally begin shrinking its $4.5 trillion balance sheet. I know, that probably sound reeeeally boring. A bunch of central bankers talking about their balance sheet. But it’s
[Editor’s note: This letter was co-written with Tim Price, co-founder of the VT Price Value portfolio and editor of Price Value International.] In the late spring of 1720, Sir Isaac Newton decided to sell his stocks. Newton had been an investor in the South Sea Company, a famous enterprise which
On Tuesday afternoon, Jamie Dimon, the CEO of banking giant JP Morgan, let loose on Bitcoin. He was speaking at the Barclays Financial Services conference, and when asked whether his bank employs any Bitcoin traders, he responded- “If we had a trader who traded Bitcoin, I’d fire them in a
On August 2, 2004, Bank of America broke ground on its 2.2 million square foot, NYC headquarters – the Bank of America Tower. The all-glass tower would rise 57 stories above midtown Manhattan, with a giant spire taking the height to 1,200 ft. It’s currently the fourth-tallest building in New
Late yesterday afternoon the federal government of the United States announced that the national debt had finally breached the inevitable $20 trillion mark. This was a long time coming. It should have happened back in March, except that a new debt ceiling was put in place, freezing the national debt.
File this one away under ‘utterly repulsive’. As you probably heard, yesterday the US-based credit reporting agency Equifax announced a massive cyberattack that affects as many as 143 million consumers. Names. Birth dates. Addresses. Social Security Numbers. Even some credit card numbers were stolen. Literally over one third of the
In 1869, a 48-year old Jewish immigrant from the tiny village of Trappstadt in Germany’s Bavaria region hung a shingle outside of his small office in lower Manhattan to officially launch his new business. His name was Marcus Goldman, and the business he started, what’s now known as Goldman Sachs,
Vegetarians be forewarned… you won’t like what follows. We slaughtered a pig yesterday at the farm. I have two freezers full of pork now, and countless strips of bacon curing in the kitchen. I’ve written about this before– out here at the farm I’m able to organically produce almost everything
Earlier today the government of China banned ICOs– initial coin offerings. We talked about ICOs last week— it’s the latest application of cryptofinance technology for companies to raise capital without having to rely on traditional methods like banks, brokers, and venture capital firms. Through an ICO, any company can raise
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