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XMFSinchiruna (27.48)

An Open Letter to President Obama

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April 24, 2012 – Comments (5) | RELATED TICKERS: JPM , HSBC , PSLV

I had something I needed to get off my chest:

http://www.fool.com/investing/general/2012/04/24/an-open-letter-to-president-obama-.aspx

"While elevated energy prices add a substantial economic headwind, so does the broken trust of American investors in the public and private institutions that shape the financial landscape. Selective enforcement of the law and piecemeal responses to systemic problems -- both of which I believe characterize your effort to crack down on energy-market manipulation while ignoring the remainder of the futures markets -- are not apt to restore the trust of investors."

5 Comments – Post Your Own

#1) On April 24, 2012 at 10:59 PM, SN3165 (< 20) wrote:

Must read article on China's influence on gold - http://www.forbes.com/sites/gordonchang/2012/04/22/the-best-reason-in-the-world-to-buy-gold/

 Jim Sinclair touches on this in a recent KWN Article - http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/4/24_Sinclair_-_Shorts_Now_Trapped_%26_Gold_Could_Gap_Up_to_$3,000.html

 This is a pretty big development!

 

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#2) On April 25, 2012 at 12:08 AM, Imperial1964 (97.78) wrote:

It's just Obama picking a scapegoat for political reasons.  I'm sure oil prices have nothing to do with the warmongering going on regarding Iran and gas prices have nothing to do with nixing that Keystone pipeline from Canada.

Wait, what?  Oil is about 10-25% cheaper (depending on grade) from Canada right now?

If Obama was serious about enforcing the law, he would be pushing for prosecution of all the fraud that was committed during the housing bubble.

Does that have anything to do with 6 of Obama's top 20 campaign contributors being financial institutions?  (I'm counting GE because GE Capital is a huge part of the company)  http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00009638

Interestingly, it looks like the financials are backing Romney pretty strongly in this election.  Romney's contributors are a "Who's Who" of Wall Street.  Top 20 (http://www.opensecrets.org/pres12/contrib.php?cycle=2012&id=N00000286):

Goldman Sachs
JP Morgan Chase
Bank of America
Morgan Stanley
Credit Suise
Citigroup,
Kirkland & Ellis
Barclays
PriceWaterhouseCoopers
HIG Capital
Wells Fargo
UBS
Blackstone Group
Bain Capital
EMC
Cidadel Investment Group
Bain & Co
Elliot Management
Sullivan & Cromwell
Ernst & Young

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#3) On April 25, 2012 at 10:04 AM, XMFSinchiruna (27.48) wrote:

SN, I agree it WOULD be a big development, but it's premature to call it a development at this time. All we have is speculation from a Forbes contributor regarding how China might adapt to the sanctions.

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#4) On April 25, 2012 at 12:17 PM, AdirondackFund (< 20) wrote:

Mitt Romney is to be congratulated on his stirring victory in yesterday's New York State Republican Presidential Primary.  Out of a population of some 15 + million people throughout the State, Romney corralled the votes of nearly .01 % of it's residents.

15 + Million People /  95,000 votes (approx) =  .01% of the total population.  

Likely, the only people who went to the polls yesterday were from Wall St. and no one else.  That's got to be some kind of record turnout or is it just the political rantings of a fringe element? 

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#5) On April 26, 2012 at 7:27 AM, skypilot2005 (< 20) wrote:

#1) On April 24, 2012 at 10:59 PM, SN3165 (< 20) wrote:

 

Must read article on China's influence on gold -http://www.forbes.com/sites/gordonchang/2012/04/22/the-best-reason-in-the-world-to-buy-gold/

 "But nothing shines like gold.  And there is one other reason to be bullish on the yellow metal.  “This isn’t the end of the road,” noted an unnamed senior administration official to the Wall Street Journal days after the enactment of the NDAA.  “There are many other sanctions we can put in place and that our multilateral partners around the world can put in place and will be.”  As Washington tightens financial measures against Iran, the mullahs will have less access to hard currency and therefore more need for gold.

Unless, of course, they want to accumulate more Chinese washing machines." 

 

 SN, #4 says she prefers a Kenmore. Interesting read. Sky 

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