Article
The Great Six Month Financial Blindfold
The Great Six Month Financial Blindfold
Submitted by QTR's Fringe Finance
As many including myself recently have noted, we are already living through an extraordinary age of financial grift, accounting games, promotional fraud, speculative mania and almost total contempt for basic investor skepticism.
The SEC’s apparent response is to consider giving public companies less frequently required financial disclosure in the face of demonstrable public disapproval of the idea. You genuinely can not make this shit up.
At a moment when public markets increasingly resemble a casino operated by executives, influencers, investment bankers, meme-stock promoters,...
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Update (1645ET): Nikkei reports that market participants learned that the Japanese government and the Bank of Japan intervened in the foreign exchange market by buying yen and selling dollars.
Additionally, Nikkei confirmed that the US monetary authorities conducted a "rate check," a preliminary step before intervention.
This indicates that Japan and the US worked together to curb the yen's depreciation.
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Having collapsed to its weakest relative to the dollar in 40 years, it appears the Ministry of Finance and Bank of...
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