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Major snapback rally today
Gold up $1, silver up $.03
all this on the back of a weaker USD to start the day
I recall the 1960’s BULL Market
near the end about 1968 it was so irrationally exuberant The FED raised MARGIN RATES 3 TIMES until it got to 90 % cash needed to buy stocks ..90 % did it ,it crashed into 1969 ,then caused the 1970 t0 1975 BEAR MARKET …really bad DOW at 750 !.I was out of the Market for the 1969-1975 period because I had just started a business and didnt get out of debt until mid 1974 .Fortunately for me 1974-1975 were profitable business years for me.I accumulated some cash and thought about re entering the Market again . I hadent spoke to my broker for almost two years prior to 1975 .There was NO market to even think about,it was just cascading down for 4 years .
The worst Bear Market I had ever seen.From a Dow over 1000 to 750…! January 1975 I saw a BOTTOM finally after 5 years ! I walked into my office to call my Broker and reached for the wall phone and just at the instant it RANG..The voice at the other end said VINCENT do you see what I see ? …IT was Wesley my BROKER ! I said you wont believe this ,,about 2 seconds ago I reached for the phone to call YOU .! “I have some ideas “,he said .
I was ready to put to work my recent business profits back into the Market .To make a long story short I turned $20,000 in jan 1975 into 1.6 million by 1987 when I got clobbered because of Margin trading..IN ONE day I had lost lost everything,had a $250,000 margin call .I was about to lose the House ,the car ,the business .I had 4 kids in College at the same time…..I struggled and with some co-operation from my dear Broker I survived ..I got a big bounce back in my stocks and finally started to liquidate my margin debt ..That was a long story .I still had enormous profits because my costs were so low.I went Short against the BOX from october 1987 to Feb 1988 to get into the next year and avoid TAX problems until my mind was clear again.I told Wesley to send me $54,000 ,he said you’ll have it in two days..By He way if you dont mind asking ,what are you going to do with that money after all you been through !.I said Im getting totally out of debt ,Im paying off my Mortgage ! He laughed and said I dont blame you !
In February 1988 I called Wesleys office and asked to speak to him and al I got was silence at the other end…,a voice said ” dont you know ?”. I knew something bad had happened.!.. Wesley died !,I was in disbelief ,I said what happened ? She said he went to Hospital with internal bleeding and it couldent be stopped. The Market crash had killed him. I still miss him to this DAY….With his help fighting for me so his boss wouldent sell me out at the Bottom . I survived and he died. Ill never forget him…I went from owing $850,000 to the Brokerage firm to zero in three months .Everybody get paid in FULL because I didnt get sold out at the Bottom..
Lady GAGA sings about it, Biden Demonstrates how its done !
Former college student and sexual assault survivor Caitlyn Caruso told the Times that Biden rested his hand on her thigh at an event on sexual assault at the University of Nevada and hugged her “just a little bit too long.”
Biden attended an event in 2016 at the University of Nevada in Las Vegas with Lady Gaga, who performed her Oscar-nominated song about sexual assault, “Til it Happens to You.”