A Twisted Tale of Gold Stolen Almost 80 Years Ago

The 'Helicopter Economics Investing Guide' is meant to help educate people on how to make profitable investing choices in the current economic environment. We have coined this term to describe the current monetary and fiscal policies of the U.S. government, which involve unprecedented money printing. This is the official blog of the New York Investing meetup.

Apparently the government can keep property stolen from you, but you can't keep property stolen from the government. A recent Bloomberg Businessweek article entitled "Gold Coins: The Mystery of the Double Eagle" details how the Secret Service has spent almost 80 years trying to track down 1933 Double Eagle $20 gold coins missing from the Philadelphia Mint.  It is well-known however who stole millions of dollars of gold from the American public in the same year - and since it was the U.S. government, lot's of luck in getting compensation.

The 1933 Double Eagle never went into circulation. All coins were ordered to be melted down because U.S. citizens were banned from owning gold in the same year. Moreover, the Roosevelt Administration confiscated all gold and paid gold holders $20.67 per ounce. Those who failed to turn their gold in were subject to a 10 year jail sentence - more time than some violent criminals got - and a $10,000 fine. Once the government had the citizenry's gold, it raised the price to $35.00 an ounce or 41% higher. The price difference represents the value of personal property stolen by the government.

Sensibly, some people sued the federal government claiming the gold seizure was unconstitutional. After all, the U.S. Constitution clearly protects property rights of Americans - if it is enforced that is. Moreover, the Roosevelt Administration claimed it was given authority to seize everyone's gold through a World War I law that gave the government sweeping powers to seize personal property to protect the Republic during wartime. There was of course, no war in 1933.

Nevertheless, the Supreme Court, in one of its most absurd rulings of all time, ruled the gold seizure perfectly legal. Even today, the mainstream press continues to soft peddle this trashing of the U.S. Constitution. The Bloomberg Businessweek article states that Roosevelt's Executive Order 6102,  "prohibited the hoarding of gold", rather than the owning of gold. While the gold was taken long ago, the same propaganda from the 1930s seems to still be with us.  

Apparently also in 1933 at least one employee at the Philadelphia Mint smuggled out some Double Gold Eagles. The government was unaware of this however. Around 1937, a Philadelphia coin dealer offered some Double Gold Eagles for sale. One of them, after being purchased by another coin dealer, was sold to King Farouk of Egypt. Unbeknownst to the Secret Service, the Secretary of the Treasury's office issued an export license for this coin on Feb. 29, 1944.

This was only one of many things that took place at Treasury that the Secret Service knew nothing about. Not stated in the Bloomberg Businessweek article was that the Under-Secretary of the Treasury at the time, Harry Dexter White, was the most highly placed Soviet agent in the U.S. government. This inconvenient, but well-documented truth has been covered up or minimized by left-wing historians and reporters for decades. White began working for the Roosevelt Administration in 1934 and concentrated on the relationship of gold and silver to currency management. The U.S. federal government confiscated American's private silver holdings in 1934.

The Secret Service arranged an elaborate sting operation in 1996 to eventually get the Farouk gold coin back. Thank goodness they didn't waste their time investigating Bernie Madoff while he was in the process of ripping off the public in his record breaking $65 billion Ponzi scheme. Eventually, after being seized from a British subject who had bought it, this coin was sold at auction and the proceeds were split between him and the U.S. government. Recently more coins have surfaced in the United States and the government has simply confiscated them -- something it is very good at doing when it comes to gold.

That the U.S. government claims rights through perpetuity and across national borders for its property, but unconstitutionally denies them to its own citizens is the major issue in the Bloomberg Businessweek article (one they seem to have missed entirely), but not the only one. Other than the dangerous precedent of property rights for the average person being trashed, the article brings up the point that the federal government is unaware that gold is stolen from its storehouses and the government wastes its time on pursuing trivial matters on its behalf while ignoring major economic crimes involving billions or even trillions of dollars. Fort Knox hasn't been audited  since 1954. How much of the gold is still there?  What other major Ponzi schemes and frauds are taking place while government agents spend their time tracking down gold coins from 1933?

Disclosure: Do not own any 1933 gold coins.

Daryl Montgomery
Organizer, New York Investing meetup
http://investing.meetup.com/21

This posting is editorial opinion. Like all other postings for this blog, there is no intention to endorse the purchase or sale of any security.

A New Theory of Sudden Hyperinflation

The 'Helicopter Economics Investing Guide' is meant to help educate people on how to make profitable investing choices in the current economic environment. We have coined this term to describe the current monetary and fiscal policies of the U.S. government, which involve unprecedented money printing. This is the official blog of the New York Investing meetup.


While everyone acknowledges that governments are printing and printing excess amounts of new money, more market observers are currently worried about deflation rather than inflation. There is a smaller group concerned about hyperinflation, but the theoretical underpinnings have been missing up to now that would justify how this could be possible. There is an explanation though and this indicates that hyperinflation can not only take place, but that is can happen suddenly.

There have been a number of impediments in how economists look at hyperinflation that have prevented original thought (and sometimes any thought at all) in this area.  Here are the necessary ideas:

1. Inflation is a currency losing its value (an idea most mainstream economist can't seem to grasp).
2. Severe deflation is a precursor to hyperinflation. They are not inconsistent events as is generally thought, but deflation sets the stage for hyperinflation.
3. Disinflation/deflation and inflation need not by symmetrical. For instance, if there is 30 years of disinflation, this doesn't have to be balanced by 30 years of inflation. The same amount of inflation could take place in only months or even weeks, let alone 30 years.
4. Inflation doesn't have to be a continuous phenomenon. The chart can have gaps in it with prices going up significantly overnight. Furthermore this can start from a low point where almost no inflation exists.

The origins of hyperinflation are with excess 'money' printing by a government. It is not possible to produce an ever-larger amount of currency and have each unit of that currency maintain its value. If it were, real money could be created out of thin air and everyone in the world could become infinitely rich overnight. This would also violate the basic laws of arithmetic. So excess money printing always devalues a currency and because of this less and less can bought with each unit of that currency.

This becomes a potentially dangerous problem when severe deflation takes place because of a shock to the financial system (the Credit Crisis for instance). To make up for the loss in value of assets (deflation), the government prints a huge amount of money. The printing causes devaluation of the currency and requires more printing to try to make up for the additional loss of value. A self-feeding money printing cycle then develops.

Even though huge money creation has occurred because of the Credit Crisis, we still haven't seen significant inflation yet. Indeed, the American government claims the U.S. inflation rate has fallen close to zero. How is this possible? The answer can be found in the banking system. The feds have pumped huge amounts of money into it (U.S. bank reserves have increased approximately 100 times or 10,000% since the Credit Crisis began) and banks have received this money at close to a zero percent interest rate.  Yet, if you look at commercial and consumer bank lending, you will see that they have been declining. So where did all this money go?  It was used to buy treasuries and this is what is allowing the federal government to fund its massive deficits. For all intensive purposes, this is a massive Ponzi scheme being run by the U.S. government.

Ponzi schemes though don't follow the same rules as normal businesses or economic statistics. They build to a crescendo over time and then suddenly collapse to zero instantly. The analogy for inflation will be the opposite however. Inflation will go to zero and then suddenly jump up to some very high level. In theory, zero interest rates should produce infinite inflation (hyperinflation), but nothing mandates that this has to be a gradual, long-term process. If you think about it, the Credit Crisis seems to have come out of nowhere. It didn't of course; there was a slow, long-term build up behind the scenes that just exploded suddenly. Inflation is likely to follow that same path of development. Global governments eventually got control of the Credit Crisis collapse by throwing trillions of dollars at the problem. That solution however won't work for dealing with inflation.

Disclosure: None

Daryl Montgomery
Organizer, New York Investing meetup
http://investing.meetup.com/21

This posting is editorial opinion. Like all other postings for this blog, there is no intention to endorse the purchase or sale of any security.

Big Bust on Wall Street

The 'Helicopter Economics Investing Guide' is meant to help educate people on how to make profitable investing choices in the current economic environment. We have coined this term to describe the current monetary and fiscal policies of the U.S. government, which involve unprecedented money printing. This is the official blog of the New York Investing meetup.

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It's not everyday that a billionaire hedge fund manager gets busted for insider trading as happened last Friday. This is not because Wall Street isn't permeated with criminal insider trading activity at the very top, but because the SEC has turned a blind eye to it for a long, long time. In a celebrated case from just a few years ago, an SEC employee who tried to investigate a well-known hedge fund manager was promptly fired for his efforts. The SEC has claimed in the past that since hedge funds and big brokers trade continually it isn't possible to prove that they are engaging in insider trading. It was possible this time however because instead of just examining trading records, wiretapping was used.

Wiretapping was first legally permitted in 1928 by a U.S. Supreme Court decision, several years before the SEC was created. Left to its own devices the SEC would probably never have decided to use any law enforcement technology not available to the Amish, but the FBI was involved in this case. The insider trading investigation against Raj Rajaratnam apparently began in 2007. Rajaratnam runs the Galleon Group which has $3 billion under management. He has been charged with conspiracy and securities fraud. Reports indicate that he is at the center of an insider trading ring and more arrests are coming.

Where did Rajaratnam get his inside information? Other than sources that worked directly for the companies involved, Internet sources indicate that Rajaratnam seemed to have at least one informant at the rating agency Moody's, the consulting firm McKinsey & Company, and Intel Capital (the venture capital arm of the technology giant). These are all top firms. You should ask yourself how many other firms have employees involved in providing insider information, how many employees are involved and to how many hedge funds is this information provided? My guess is the answers to these questions is a lot, a lot and a lot. Why aren't there stricter controls within these firms that prevent this from happening? The public has a right to know.

At least some progress is being made in reigning in the Wall Street criminal operations. The biggest Ponzi schemer of all time, Bernie Madoff, is behind bars, not because the SEC caught on to his obvious $50 billion scam after numerous investigations, but because it finally blew up on its own accord. At least the SEC did finally close down the $8 billion 'investment fraud' run by Allen Stanford. The head of a top New York law firm, Marc Drier, has been sentenced to 20 years in jail for fraudulent activity. All of these cases were beyond outrageous and extreme examples of criminality. What about all the other criminal activity on Wall Street that is being done with at least a grain of discretion? Rajaratnam is merely the tip of that very massive iceberg.

NEXT: U.S. Dollar Down, Everything Else Up

Daryl Montgomery
Organizer,New York Investing meetup
http://investing.meetup.com/21




This posting is editorial opinion. Like all other postings for this blog, there is no intention to endorse the purchase or sale of any security.

Quadruple Witching Today; Fraud Update

The 'Helicopter Economics Investing Guide' is meant to help educate people on how to make profitable investing choices in the current economic environment. In addition to the term helicopter economics, we have also coined the term, helicopternomics, to describe the current monetary and fiscal policies of the U.S. government and to update the old-fashioned term wheelbarrow economics.

Our Video Related to this Blog:

Today is quadruple witching, the once every quarter event when equity options, index options, single stock futures and index futures expire. The market will tend to move either up or down to minimize the value of the expiring options. Reversals to undo those moves frequently take place early the next week. After four days of closing below its 200-day moving average, the Dow jumped above this resistance line this morning and it needs to close there today and stay above it next week for the market to be healthy. The US dollar is steady at 80.46 this morning, gold, silver and oil are up slightly.

The big news today is that Texas billionaire Allen Stanford had been indicted and arrested. Stanford is accused of running an $8 billion Ponzi scheme. The SEC first received complaints against Stanford in 2001. The ever on the ball SEC only took four years to launch an investigation. After 'only' four years after the investigation began in 2005, the SEC filed civil fraud charges against Stanford four months ago. It is rumored that Stanford has connections to the CIA.

While Stanford was being indicted, uber fraudster Bernie Madoff settled civil fraud charges with the SEC in his $65 billion Ponzi scheme (something the SEC supposedly failed to notice for a few decades). Even though Madoff has admitted guilt in criminal proceedings, the SEC allowed him to settle its charges against without admitting any wrongdoing! Legal experts were reported as being 'dumbfounded' by this move. Indeed it doesn't make any sense unless the SEC is trying to protect itself and its own involvement in the Madoff scam. Madoff sat on SEC committees. He will be sentenced on June 29th.

If the SEC doesn't find major frauds that can damage the entire financial system, what does it do? It spends its time catching dentists in New Jersey who get tips from their clients and buy a few thousand dollars in options. These small one time transgressions are essentially irrelevant, but make great publicity. The massive ongoing crimes are ignored. It also looks like the SEC may be participating in the criminal activities that it's supposed to be stopping. If it was closed down tomorrow, would investors be any less safe?

NEXT: The Simple Arithmetic of Hyperinflation

Daryl Montgomery
Organizer,New York Investing meetup
http://investing.meetup.com/21

This posting is editorial opinion. Like all other postings for this blog, there is no intention to endorse the purchase or sale of any security.

New York Investing Meetup Versus the SEC

The 'Helicopter Economics Investing Guide' is meant to help educate people on how to make profitable investing choices in the current economic environment. In addition to the term helicopter economics, we have also coined the term, helicopternomics, to describe the current monetary and fiscal policies of the U.S. government and to update the old-fashioned term wheelbarrow economics.

Our Video Related to this Blog:

I would like to thank the 145 people who braved a snow storm last night to come to the February general meeting of the New York Investing meetup. In addition to the scheduled talks on the State of the Market (and why gold is looking good and oil could have a pop up in the near future), the Credit Crisis Update and Art Investing, Shelley Gould flew in from San Francisco and gave a couple of minute introduction to her new SmartStops service. While New York Investing meets the needs of the investing public as long as New York City hasn't been shut down, investors unfortunately don't receive such dedication from the watchdog government agencies that are suppose to be protecting their money.

New allegations arose last night against the SEC and FINRA (the the brokerage industry's self-policing organization). Harry Markopolos, the securities industry executive and fraud investigator who brought allegations against Bernard Madoff to the SEC by 2000, if not earlier, is now saying he feared for his personal and family's safety because of the SEC's inaction (and indeed he should have). Markopolos submitted detailed evidence to the SEC in Boston, New York, and Washington about Madoff's scam and as we all know too well, the SEC did nothing. Markopolos will be appearing before a congressional investigatory committee today.

Markopolos was not alone in being suspicious of Madoff. Anyone who examined his trading strategy knew immediately it was a fraud. How? His trading would have been bigger than the entire volume of the markets he claimed to be trading in. While even a casual observer would realize something crooked was going on, the public watchdog SEC couldn't figure it out. While you may think nothing like this could have happened before, you would be mistaken. The 1962 Salad Oil Scandal (a $175 million fraud then or about $1 billion in today's money) required the same suspension of common sense from the 51 Wall Street banks that lent money to the perpetrator, Tino De Angelis. De Angelis borrowed money from these banks based on his inventory of salad oil, stored in huge tanks in New Jersey which actually contained water with a thin layer of salad oil floating on the top (so field inspectors did indeed see oil when they looked into the top of the tanks). However, publicly available information published by the U.S. government indicated there was less salad oil in the entire United States than De Angelis claimed he had in his New Jersey storage facilities. Apparently this wasn't enough to make Wall Street banks avoid lending to him, just as their contemporaries would make loans to people without any income or assets. Consider this the next time you are tempted to follow Wall Street's investing advice.

In case you may also be thinking things are now going to get a lot better, I would advise you not to get too hopeful just yet. The new head of the SEC is Mary Schapiro (replacing See-No-Evil Christopher Cox). Ms. Schapiro was previously the head of FINRA (Financial Industry Regulatory Authority). FINRA at least investigated Madoff several times. They found nothing out of the ordinary and claim they couldn't have because they were only empowered to examine his brokerage business (an almost guaranteed destination of some of the missing $50 billion) and the fraud was perpetrated through his investment business. Congress claims that it was not particularly impressed with It's-Not-My-Job Mary Schapiro's performance in this circumstance. Nevertheless she is now in charge of protecting the public's investments.

NEXT: Only TARP Recipients Should Worry About Deflation

Daryl Montgomery
Organizer,New York Investing meetup
http://investing.meetup.com/21

This posting is editorial opinion. Like all other postings for this blog, there is no intention to endorse the purchase or sale of any security.

New York Investing meetup members in the Videosphere

The 'Helicopter Economics Investing Guide' is meant to help educate people on how to make profitable investing choices in the current economic environment. In addition to the term helicopter economics, we have also coined the term, helicopternomics, to describe the current monetary and fiscal policies of the U.S. government and to update the old-fashioned term wheelbarrow economics.

Video Related to this Blog: See body of blog.

There are videos online with people from New York Investing that are not produced by us. MSN Money has a series with insightful comments from group members Jason Tilliberg, Bob Rubin, and Steve Cheung. I myself have showed up questioning Bernie Madoff in a controversial You Tube video.

The MSN Money interviews were conducted several months ago before a meeting and what is posted online has changed over time. New York Investing meetup members participating in the interviews did a spectacular job, even obvious in the edited versions, and they deserve kudos. Unfortunately, MSN Money does not. MSN Money misidentified the name of our group, calling us the New York Investors meetup, instead of the New York Investing meetup. Despite this potential slander and requests on my part to fix it, the error persists. MSN Money also misidentified one of the interviewees and misspelled Steve Cheung's name. They have also refused to correct these errors as well. Adding misrepresentation to incompetence, the interviews have also been put into a bigger piece that recommends mutual funds as the way for investors to go - something that New York Investing is very much opposed to. Except for the interviews with Bob, Steve, and Jason, I don't recommend looking at anything on the MSN Money website. To find the interviews, click on 'Getting advice from an investing club' after going to: http://articles.moneycentral.msn.com/learn-how-to-invest/how-to-invest-1000.aspx?GT1=33014.

As for the video with me questioning Madoff, this took place in the fall of 2007. There was at a forum at the non-profit Philoctetes Center (now going bankrupt because it had much if not all of its money with Madoff) on technology in the stock market. Bernie Madoff was on the panel run by Times Magazine writer Justin Fox. In a recent blog of his, Fox admitted to meeting with Madoff at Madoff's request days before the meeting to discuss how the forum should be run. Toward the end, I asked a question about the Asian market bubble that I stated was about to blow up (which it did almost immediately thereafter). At the end of the question, you can see Justin Fox mumbling. Although this video doesn't have the answer, the question was deflected away from Madoff to another panel member. Perhaps just another example of how big media protected Madoff? I'll let you be the judge.

The video can be found on You Tube and is entitled, "Bernie Madoff on the modern stock market". The URL is: http://www.youtube.com/watch?v=auSfaavHDXQ. I am in the last minute or so of the video, so fast forward to around 32 minutes. There is supposed to be a longer version with the answer to the question somewhere on You Tube as well.

NEXT: The Euro, Oil, Retail Bankruptcies, and GMAC

Daryl Montgomery
Organizer,New York Investing meetup
http://investing.meetup.com/21

This posting is editorial opinion. Like all other postings for this blog, there is no intention to endorse the purchase or sale of any security.

Excess Liquidity to Solve Excess Liquidity Problem

The 'Helicopter Economics Investing Guide' is meant to help educate people on how to make profitable investing choices in the current economic environment. In addition to the term helicopter economics, we have also coined the term, helicopternomics, to describe the current monetary and fiscal policies of the U.S. government and to update the old-fashioned term wheelbarrow economics.

Our Video Related to this Blog:

Almost everyone expects the U.S. Fed to lower interest rates by 50 basis points to 50 basis points today. Soon we will find out what will happen when there are no more rate cuts left as I asked rhetorically long ago in one of the New York Investing meetup's You Tube videos. We do know what has happened in the past because of excess liquidity with one bubble inflated after another because of fed policy. Each bubble leaves a trail of victims, many of whom should have known better. The list for the Madoff scandal keeps growing and the similarity to suspended belief that made Enron possible should be noted. While there were a few lone voices saying the emperor had no clothes, the top Wall Street players supported both and questioning from the media just didn't exist.

Hedge funds were one of the many beneficiaries of U.S. government easy money in the 1990s and 2000s. In 1990, there were only 610 of them in the U.S, by the end of 2006, there 9462. Assets under management went from $38.9 billion in 1990 to $1.9 trillion in June of 2008, when according to Bloomberg they peaked. As of November 24th (long before the Madoff scandal) U.S hedge funds returns were down 22% on the year - some protection from the Bear Market! A number of hedge funds themselves invested with Madoff and their clients were generally charged 20% of profits and a one and half percent maintenance fee to get them in on the biggest Ponzi scheme in American history. Just another of example of Wall Street being filled with people who know other people, but know little about investing.

While hedge funds still remain beyond the reach of the average investor (and in many cases this is fortunate), the other big beneficiary of the credit bubble, mutual funds, are also suffering. In the six months between May and October, U.S. mutual funds had a decline of $2.5 trillion in assets. Much, but not all of this, was the result of the declining stock market. Money seems to be flowing into money market funds which hit a record $3.7 trillion last week and have hit records highs for the last 11 consecutive weeks. There also seems to be some shift of funds toward ETFs. Despite the declining market, ETF assets have grown by $104 billion in the first nine months of 2008. Perhaps the American public is slowly realizing that the mutual fund industry is obsolete and does little except take a slice of their investing money in exchange for lower than average market returns?

The New York Investing meetup continually points out that there is no free lunch and much of our investing predictions are based on this simple premise which is why they are so accurate. Don't think we don't get a lot of flack because of this because we do. Most people want to believe in the too good to be true premise (and the Madoff scandal makes it clear that the rich and well-connected are just as susceptible to this as everyone else) and the U.S. government through its interest rate policy, the Treasury through its bailouts and the mass media that refuses to question, all keep the illusion going. Most people of course also don't make money with their investments either. Instead they wind up eating the free lunch and invariably go hungry later on.

NEXT:

Daryl Montgomery
Organizer,New York Investing meetup
http://investing.meetup.com/21

This posting is editorial opinion. Like all other postings for this blog, there is no intention to endorse the purchase or sale of any security.

Indecent Exposure: Madoff Caught Swimming Naked

The 'Helicopter Economics Investing Guide' is meant to help educate people on how to make profitable investing choices in the current economic environment. In addition to the term helicopter economics, we have also coined the term, helicopternomics, to describe the current monetary and fiscal policies of the U.S. government and to update the old-fashioned term wheelbarrow economics.

Our Video Related to this Blog:

Warren Buffett's famous remark that you only know who's swimming naked when the tide goes out is particularly relevant at the moment with the ultimate Wall Street insider Bernard Madoff accused of operating a $50 billion Ponzi scheme (with an additional $17 billion just 'missing'). The hear no evil, see no evil SEC gets no credit for unmasking this multi-decade fraud, with Madoff confessing to his sons as his scheme fell apart and they in turn notifying the FBI. There are even reports of in-the-know Wall Streeters having invested with Madoff knowing his operation was fraudulent, but they had assumed that it was based on an insider trading scam - it being common knowledge on the Street that the SEC rarely investigates citizens above suspicion (one SEC employee was recently fired for trying to open just such a case) for this behavior.

Madoff is the former chairman of the Nasdaq and the founder of Bernard L. Madoff Investment Securities, a closely-held market-making firm that has operated since 1960. He also ran a hedge fund, which is the source of the supposed $50 billion in fraudulent losses (sustained during the time that former Fed chair Alan Greenspan repeatedly said there was no need to regulate hedge funds). Madoff's hedge fund business didn't register with the SEC until September 2006. What took it so long to do so is a good question. An even better question is, did they investigate the hedge fund since that date and if so why couldn't they uncover the largest fraud in American financial history? Madoff's Investment Securities is also market maker on Nasdaq and huge amounts of funds pass through that operation. Are those funds safe or have some of them been pilfered too?

Investors in Madoff's hedge fund are a who's who of big money people, banks and other hedge funds who should have known better. These include banks Santander, Royal Bank of Scotland, BNP Paribas, HSBC, Nomura and hedge funds Man Group, Tremont Capital Management and Fairfield Greenwich Group. Some big names that have surfaced so far as Madoff investors are Philadelphia Eagles owner Norman Braman, New York Mets owner Fred Wilpon and J. Ezra Merkin, the chairman of GMAC Financial Services (49% owned by looking for a government bailout GM). A number of charities also entrusted their money to Madoff, Senator Frank Lautenberg's family charitable trust among them, and at least one has already closed down as a result.

The revelations of the Madoff fraud are somewhat reminiscent of Richard Whitney scandal during the Great Depression. Whitney was the president of the New York stock exchange from 1930 to 1935 and was also a citizen above suspicion just like Madoff. He was assumed to be a brilliant financier, but this image was also false. He turned to embezzlement to cover up his mounting business losses and to maintain his extravagant lifestyle. The authorities eventually caught up with him, although it didn't take nearly as long as it has with Madoff, and he wound up in Sing Sing. Revelations of financial misdeeds indeed became commonplace in the 1930s as the economy fell apart and you should assume that this will be the happening once again.

NEXT: Excess Liquidity to Solve Excess Liquidity Problem

Daryl Montgomery
Organizer,New York Investing meetup
http://investing.meetup.com/21

This posting is editorial opinion. Like all other postings for this blog, there is no intention to endorse the purchase or sale of any security.