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Historical happenings

12/14/1819 ~ Alabama is admitted as the 22nd state, making 11 slave states and 11 free states.

12/14/1909 ~ The Labor Conference in Pittsburgh ends with a “declaration of war” on U.S. Steel.

12/14/1980 ~ NATO warns the Soviets to stay out of the internal affairs of Poland, saying that intervention would effectively destroy the détente between the East and the West.

Historical happenings

12/13/1814 ~ General Andrew Jackson announces martial law in New Orleans, Louisiana, as British troops disembark at Lake Borne, 40 miles east of the city. The Battle of New Orleans

12/13/1951 ~ After meeting with FBI Director J. Edgar Hoover, President Harry S Truman vows to purge all disloyal government workers.

12/13/1972 ~ Astronaut Gene Cernan climbs into his lunar lander on the moon and prepares to lift off. He is the last man to set foot on the moon.

Historical happenings

12/12/1901 ~ Italian inventor Guglielmo Marconi receives the first transatlantic radio transmission in St. John’s Newfoundland.

12/12/1930 ~ The Spanish Civil War begins as rebels take a border town.

12/12/2000 ~ The US Supreme Court announces its decision in Bush v. Gore, effectively ending legal challenges to the results of that year’s presidential election.

Historical happenings

12/11/1882 ~ A production of Gilbert and Sullivan’s Iolanthe at Boston’s Bijou Theatre becomes the first performance in a theatre lit by incandescent electric lights.

12/11/1930 ~ As the economic crisis grows, the Bank of the United States closes its doors.

12/11/1972 ~ Challenger, the lunar lander for Apollo 17, touches down on the moon’s surface. This is the last time that men visit the moon.

Idiot’s Corner

There is something in the mob mentality that grabs the fool by the necktie and leads him into a sure loss of his money. Tusser’s old saw, “A fool and his money are soon parted” is still so true.

Bitcoin – The song has ended…

Interesting that the crypto-currency mania ‘took off’ at about the same time that a few people identified a structural shortage in the available physical Gold supply in London.

Also interesting is the fact that about 40% of crypto-currency is owned by 1,000 people.
– Large holders of anything have a great opportunity (especially in an unregulated market) to orchestrate price movements. This always end badly…for the retail traders.

To quote Irving Berlin:
“The song has ended, but the melody lingers on.”

This is akin to amassing a mountain of iron pyrite and thinking you struck the mother lode.

Historical happenings

12/7/1931 ~ A report indicates that Nazis would ensure “Nordic dominance” by sterilizing certain races.

12/7/1942 ~ The U.S. Navy launches the USS New Jersey, the largest battleship ever built.

12/7/1972 ~ The crew of Apollo 17, the last manned mission to the moon, lifts off at Cape Canaveral, Florida.