National Futures Association announcements of interest …

For Immediate Release
April 28, 2021

For more information contact:

Christie Hillsman, 312-781-1490, chillsman@nfa.futures.org
Karen Wuertz, 312-781-1335, kwuertz@nfa.futures.org

NFA orders former associated person Jeremy Ruth never to reapply for NFA membership

April 28, Chicago—NFA has ordered Jeremy Ruth, a former associated person of Postrock Brokerage LLC (Postrock), never to reapply for NFA membership status in any capacity or act as a principal of an NFA Member. Postrock is a former NFA Member introducing broker located in Chicago, Illinois.

The Decision, issued by an NFA Hearing Panel, is based on a Complaint issued by NFA’s Business Conduct Committee and a settlement offer submitted by Ruth, in which he neither admitted nor denied the allegations. The Complaint alleges that he failed to disclose the impact of commissions on customers’ profit potential and placed trades for customers which offered no economic benefit to them and only generated additional commissions. The Complaint also alleges that Ruth made misleading statements to customers and failed to disclose that all of Ruth’s other customers had lost money. Finally, the Complaint alleges that Ruth made unauthorized trades for customers or exercised discretion over customer accounts without obtaining written authority.

For more information, read the Complaint and Decision.

Source: National Futures Association

Treat America as a colony. Extract and profit as much as you can …

Opinion by Alton Drew

The typical American’s view toward the economy is what can this economy do for me; provide to me. There is this notion that social, cultural, or political allegiance to the economic system should be compensated with some guaranteed system of job or business opportunity. An economic system goes a long way in demonstrating its validity to taxpayers if it can provide jobs and an environment that supports trade, but relying on promises to “Make America great again” or “Build back better” is not wise or practical. You are setting yourself up for failure or mental and emotional depression.

Rather, it may be best to maintain a colonizer mentality. Yes, it is ideal that the governing authority of a jurisdiction have in place rules that facilitate and protect trade but that is not enough for any success. I find most political rhetoric on the economy is fluff and puffery and have observed that all substance in trade is generated from the “bottom” and on the “side.”

On the bottom is the extractor or producer, capturing and processing the resources necessary for creating goods and services. Coming in from the side are the traders who are constantly in search of information on consumer tastes, producer capacity, and opportunities for capital deployment. Also on the side is the capital, the holder of the “dry powder”, pooling resources with other holders of capital and weighing competing narratives provided by traders and merchants that describe the best investment opportunities.

Again, if government is doing its job, it is first and foremost ensuring optimal conversion of human, natural, and financial resources by implementing and enforcing rules that allow for accumulating and processing resources by traders and liberal movement of capital from investors. It is effective facilitation that gives elected officials fodder for validating and promoting the political economy.

The colonizer mentality tells us to keep an arm’s length between ourselves and the politician. I would argue they need us more than we need them. The politician cheerleads the economy but the producer, trader, and banker give the politician something to cheer about. While the politician’s rhetoric helps her hold sway over a voting public, the globalisation of capital and freedom to search for economic opportunity in alternative jurisdictions gives the producer/trader/banker some sway.

Both sides, the political and the commercial, need each other but the commercial side should avoid the populism and emotionalism that relegates most taxpayers to the “consumed” class, a class stuck in the downward spiral of selling time for pennies, where the failure to spend time on accumulating knowledge necessary for creating “currency” is creating, in my opinion, an increasingly devalued populace; one prone to the button-pushing of politicians.

Be non-emotional toward the political economy. America does not exist to nurture or cater to your emotions.