Senior Managing Editor of The Freeport Society
You and I would be arrested if we tried this. Yet our apparently above-the-law “leaders” get away with it… if they report it.
Let me explain…
We all know that Boeing – The Boeing Co. (BA) – is up shit’s creek.
In January, during an Alaska Airlines flight, a door panel flew off the Boeing 737 Max plane. Thank the pope this young man wasn’t on that flight. The ground has never received more kisses and embraces than the hour after that trip ended.
Now, the U.S. Department of Justice has placed the company under a criminal investigation.
Its troubles don’t stop there.
Earlier this year, the Federal Aviation Administration (FAA) barred Boeing from expanding production of those 737 Max planes, citing “unacceptable” quality issues.
And the company has been found responsible for two fatal crashes that killed 346 people. As a result, it lost tens of millions of dollars and paid billions more in fines and settlements.
No wonder Boeing’s stock is down 29% in 2024. It’s the second-worst-performing company on the S&P 500 index, which itself is up 7.8% year-to-date..
But guess what?
On February 28, the day before Boeing’s stock took a 10.9% plunge, U.S. Representative William R. Keating sold up to $15,000 worth of BA stock.
Don’t worry, though. He reported it thanks to the STOCK Act of 2012 (which requires members of Congress to report their financial transactions… it also ostensibly prohibits members of Congress and other federal employees from using nonpublic information for private profit).
Lucky for us, that very same act gives us investors the next best thing to inside information. It allows us to follow the insiders’ money.
If you missed it, here are 99 stocks that political insiders are buying now, as we get ever close to the election.
You’re welcome.
Now, let’s recap what Charles and the Freeport Society family discussed this week…
Is Gold’s All-Time High a Good Place to Buy?
Gold bug or not – James Hickman’s makes a case worth reading. Despite the selling of considerable quantities, gold prices have continued to rise. Check out why here.
The Trouble (and Opportunity) With Bitcoin’s Ongoing Ascension
Bitcoin has 37 trillion reasons for its breakout to all-time highs. And those very same reasons ensure the original cryptocurrency will go much higher still. What does this means for your portfolio. Dive in here.
Enough Paperwork to Sober Up An Irishman on St. Paddy’s Day
What business does the SEC have in creating ESG rules? We’re wondering the same thing. The Wall Street cops’ latest move is yet another example of unnecessary oversight. Read about the inanity of it all.
Looking Ahead
In a glorious display of how desperate the mainstream media is to grab eyeballs and count clicks rather than, I don’t know, actually covering the news… Princess Kate Middleton (or her social media staff) stole headlines this week when they made some minor edits to a photo of her and her kids.
Firstly, this is not newsworthy.
Secondly, photo editing is not new.
We’ve been tweaking or “fixing” photos since the invention of cameras in the mid-1850s. Of course, the explosion of digital cameras and photo-editing apps have only amped up our ability to tweak and fix.
There are very few people – including professional photographers – who submit SOOC (straight out of the camera) images. Not even the famous Annie Leibovitz!
So dear mainstream media… do us a favor: Focus on the information that matters. Like the fact that Russian President Vladimir Putin is proud to say his country is ready for nuclear war.
That piece of news got scant attention while Kate Middleton’s photo was the talk of the town for days!
Another story not given the attention it deserves?
The TikTok ban.
Every day, our government chisels away at our constitutional rights while the mainstream media keeps us looking in other directions.
Looking ahead, we’ll see if the media does better next week… though we doubt it.
I’m grateful you’re here with us at The Freeport Society.
To life, liberty, and the pursuit of wealth.