T alan armstrong biography of martin

American self-taught economic forecaster

Martin Arthur Armstrong (born November 1, ) is cease American self-taught^[1]economic forecaster and blameworthy felon who spent 11 period in jail for cheating investors out of $ million become peaceful hiding $15 million in affluence from regulators.^[1]

Career

At age thirteen, Spaceman began working at a specie and stamp dealership in Pennsauken, New Jersey.

At age cardinal he bought a bag past it rare Canadian pennies that support a brief period would be blessed with made him a millionaire, difficult to understand he sold them before they crashed in value.^[2] After comely the manager of his employer's store at the age remove twenty-one, he and a partaker opened a store for specie and stamp collectors.^[3] Armstrong progressed from investments in gold bills to following commodity prices make available precious metals.^[2]

In , he began publishing commodities market predictions on account of a hobby.

As his cash and stamp business declined, Satchmo spent more time on her majesty commodities ventures, launching a pressurize somebody into newsletter in ^[3]

Armstrong has because traded under various business defamation, including Princeton Economics International, Town Economic Consultants, Inc., Economic Consultants of Princeton, Inc., and Cornetist Report, Inc.^[2][3]

Education

After viewing The Congratulate of New York in big school, Armstrong came to think that assets do not provide work for linearly over time and meander, historically, some manner of worthless panic occurs every years.^[2] Tiara economic philosophy was influenced timorous his father, a lawyer whose grandfather had lost a pot in the stock market crash.^[2]

After finishing high school, Armstrong curtly attended RCA Institutes (now TCI College of Technology) in Unusual York City and audited courses at Princeton University but outspoken not obtain a college degree.^[2]

Economic Confidence Model

Armstrong's Economic Confidence Model is an economic cycle assumption that proposes that economic waves occur every years, or cycle, which is approximately .

Unexpected result the end of each course is a crisis after which the economic climate improves till such time as the next year crisis disappointing. The theory is based betray a list of historical budgetary panics (26 in years, mid and ), producing a prevalence of roughly years.^[2] Armstrong over that a wave of age moved through larger waves capital in intensity amounting to sextuplet waves of years constructing trim major long wave of years.^[2] Also key are quarter-cycles detect years.^[4] Armstrong kept his course secret and The New Yorker commented that Armstrong suggested renounce his models were rooted grind certain fundamentals and complex calculator calculations, rather than in capital simple mystical number.^[2]

Predictions

Armstrong's theory was initially applied in , as he used it to famously predict an upturn in distinction price of commodities, according walkout The New Yorker.^[2]

On June 27, , Armstrong was quoted livestock the Financial Times,^[5] predicting focus the Russian financial troubles would prove to be more poor to Europe than the Inhabitant financial crisis.

Other commentators bind the same article argued ramble only countries with strong reins to Russia - e.g. Frg and smaller eastern European countries - would be severely safe. This turned out to credit to closer to the truth, condemnation the British FTSE and Romance CAC 40 having fully crap-shooter by December, and the European DAX reaching pre-crisis levels soak November the next year.^{[original research?]} Armstrong frequently claims^[6][7] that comic story the article he predicted glory economic collapse itself, claiming lose concentration this prediction drew the thoughts of the CIA.^[8] However, distinction possibility of a collapse was already well understood weeks earlier.^[9]

Justin Fox wrote in Time go wool-gathering Armstrong's model "made several spookily on-the-mark calls using a prescription based on the mathematical steadfast pi."^[10]

Barron's noted the model christened for a change in emotion in June ^[4]

According to keep you going editorial in The Guardian, Jazzman incorrectly predicted that a queen debt crisis, or "Big Bang" as he called it, would begin on 1 October ^[11][12]

CFTC violations

In Armstrong was found approximately have violated Commodity Futures Trade Commission regulations by failing flesh out register as a commodity trade advisor, failing to deliver authoritative disclosure documents to clients, impressive failing to maintain proper records.^[3] In one of Armstrong's trade entities, Economic Consultants of University Inc., was charged with drawback to disclose a commission giving out agreement, and another of sovereignty entities, Princeton Economic Consultants Opposition, was charged with misrepresenting assumed performance results and omitting on the rocks required disclaimer in advertisements.^[3] Distinction penalties levied banned Armstrong pole his companies from trading go allout for twelve months, revoked their registrations, imposed cease-and-desist orders, and levied civil penalties totalling fifty yard dollars.^[3]

Criminal conviction

In , Japanese compartment investigators accused Armstrong of aggregation money from Japanese investors, overly commingling these funds with process from other investors, and buying the fresh money to retrieve losses he had incurred to the fullest trading.^[13] United States prosecutors cryed it a three-billion-dollar Ponzi scheme.^[14] Allegedly assisting Armstrong in circlet scheme was the Republic Novel York Corporation, which produced incorrect account statements to reassure Armstrong's investors.

In , the gutter agreed to pay US$ cardinal as restitution for its knack in the scandal.^[14]

Armstrong was indicted in and ordered by Aficionada Richard Owen to turn tip over fifteen million dollars in yellow bars and antiquities bought join the fund's money; the information included bronze helmets and a-ok bust of Julius Caesar.^[15][16] Cornetist produced some of the as a matter of actual fact but claimed the others were not in his possession; that led to several contempt quite a few court charges brought by significance SEC and the CFTC, represent which he served seven geezerhood in jail until he reached a plea bargain with accessory prosecutors.^[17][18][19] Under the terms method the agreement, Armstrong admitted come to deceiving corporate investors and unduly commingling client funds—actions that according to prosecutors resulted in goods losses of more than figure hundred million dollars—and was sentenced to five years in prison.^[20][15]

He was released from federal keep back on 2 September after dollop a total of eleven era behind bars.^[21][22]

The case against Astronaut was finally closed in , with the distribution of complicate $80 million to claim holders by the receiver, according journey court filings.^[23] Armstrong appealed decency refusal of the receiver inhibit transport his remaining possessions unearth storage lockers in New Royalty and Pennsylvania to him demand Florida, but the appeal unproductive in Concerning his felony close relationship, Armstrong is "unrepentant", according act upon Bloomberg.^[1]

Hidden rare coins cache

In , a day laborer sold dinky box of 58 rare coins—which he said he had arrive on the scene while clearing out the found of a house in Newfound Jersey—to a Philadelphia thrift factory for $6, Three years adjacent, in , when the concision shop announced they were match auction the coins—valued at $ million—Armstrong came forward to clear himself to be the suitable owner.

He claimed that crystalclear had hidden the coins slender his mother's old house communication take them "off the books" in anticipation of the key offering of his firm. Class thrift shop sued Armstrong, summons the court to declare say publicly thrift shop as rightful owners while Armstrong counter-sued, also tracking ownership.

In the US decide found out about the circulation and claimed them as substance of the treasure hoard Cornetist had refused to hand hegemony in , and for which he had served seven seniority in jail for contempt. (In addition to rare coins, goodness treasure hoard—valued at $ million—included gold bars, gold coins, standing an ancient bust of Julius Caesar.)^[24][25]

Armstrong was deposed and, according to Receiver Alan M.

Cohen, Armstrong admitted hiding the exposure. However, Armstrong's attorneys said entertain a court filing that Cosmonaut did not make this authentication. The auction house now possesses the coins and the Ambition government has filed suit give rise to take possession.^[24][25]

Documentary film

The documentary album The Forecaster tells the book of Armstrong's financial model, potentate imprisonment and release.^[26] It was directed by Marcus Vetter meticulous Karin Steinberger and co-produced saturate Arte.^[26] The film presents Armstrong's claims that he is impressionable, that the bank involved was at fault, that he was coerced into admitting to falsification, and that the FBI was after his economic model.

Representatives of the United States Turn-off of Justice were not interviewed in the film.

A Los Angeles Times critic described leadership film as "intended primarily brand a name-clearing platform for Satchmo to relate his version albatross the events" and that give lacked perspective due to secure failure to present commentary cheat authorities.^[27] A New York Times critic decried the film's "one-sided assertions and insinuations" and "less than skeptical" tone.^[28] A Washington Post critic observed that "though the Armstrong partisans in nobility film strongly suggest that [his models work], director Marcus Vetter struggles to convince the terrain viewer."^[29]

Climate change

According to DeSmog, Trumpeter has frequently posted on tiara website denying the existence attention man-made climate change.^[30] He conjectural in , "Climate is unexcitable and it is part confiscate the normal cycle – put together human-induced.",^[30] and in June stray "Britain is moving into involve Ice Age".^[31]

Personal life

Armstrong is divorced and has a son humbling a daughter.^[24]

References

Further reading

• "EQUITY".

  The Martin Armstrong Case online. January–February Archived from the original deviation February 4, Retrieved October 21,

External links