At the age of 13, Martin Armstrong began working at the Pennsauken, New Jersey auto show. In 1965, at the age of fifteen, he bought a bag of rare Canadian pennies that would have made him a millionaire in a short time if he sold them before they fell in price.
Carier start
Martin Armstrong's professional biography began relatively early. Becoming a store manager, he and his partner opened a retail outlet for collectors. Then he was 21 years old. Armstrong progressed from investing in gold coins to setting commodity prices, including precious metals.
In 1973, Martin Armstrong began to make predictions about the situation on the commodity market, but initially it was nothing more than a hobby. Since ten years later, his coin and stamp business was burned out, Armstrong began to devote much more time to his promising hobby. In 1983, Martin Armstrong, whose photo you see in front of you, began to take paid orders for predicting various situations in the market.
Education and Formation
After graduating from high school, Armstrong attended RCA College (now TCI College of Technology) in New York and attended courses at Princeton University, although he received neither a diploma nor a degree.
His economic philosophy was influenced by his father, a lawyer, whose grandfather lost his fortune during the stock market crash in 1929. Inspired by a series of films viewed at the school, Martin Armstrong became convinced that assets do not linearly correlate with time and that historically a market crisis occurs on average every 8 years.
Criminal proceedings
In 1999, Japanese investigators accused Armstrong of collecting money from Japanese investors, improperly using them, pooling funds with other investors' funds and using fresh money to cover the losses that he incurred during the trade. US prosecutors called it the Ponzi scheme, which brought Armstrong profit, according to some estimates, in the amount of $ 3 billion.
Presumably, Armstrong was assisted in his scheme by the New York Corporation, which made false accounts reports to reassure our hero's investors. In 2001, the corporation agreed to pay $ 606 million in compensation for its participation in the scandal.
