Imagine the power of banks and commercials to simply generate any number of contracts necessary to short sell or suppress the price of a commodity. You can create these contracts out of thin air with little regard for whether or not you can deliver the underlying commodity. Because you never do.
You settle in cash. Maybe offer a premium to the holder of 20% in lieu of providing the commodity because you don't have it. You don't really care because the FED is giving you free money anyway. The US Government's CFTC has your back. They raise margin requirements making it more difficult for the holders of long contracts to take delivery of physical gold or silver. They have to prove they have the cash to settle the contract.
That is the situation in the silver and gold markets. The bankers and the US Governments Commodities Futures Trading Commission or CFTC did those things last week. It is hard to imagine what might have happened if we had actual position limits tied to some actual physical measurement of available gold and silver supply.
Those tricks have always worked in the past. They did not work last week. That should make you sit up and take notice. Big time. Silver shot through 34 an oz. briefly on Wednesday before the banks and the CFTC started working their price suppression tactics.
The put contracts traded by the big commercials, JP Morgan et.al., in just two days- represented more than a year's supply of world mining production. Do they have that kind of supply to fill contracts? Not a chance in hell.
China is accumulating gold and silver. In huge amounts. Why? Citizens know it's anti-inflation properties and they buy it. But the really huge underlying theme is that I believe China is positioning itself to remove the dollar as the world's reserve currency and replace it with the yuan. People that do not think this can happen are just as deluded as those UK souls who did not think the pound sterling was at risk to the U.S. dollar. That is the life cycle of things. I don't think China with it's vast population, intellectual superiority, and worker capacity really enjoys being bullied by the smaller U.S. They have taken capitalism to a whole new and improved level. A fully backed yuan would make mincemeat of the world's unbacked fiat currencies. What you are about to witness is China become the world's greatest economic and world superpower. It is unfolding now. We have made ourselves extremely vulnerable. Granted we won't go down without a struggle and fight- but I don't think we can win this game.
Fundamentally nothing has changed. At current price levels, 34.00 and 1405.00 for silver and gold respectively, the commodities are a screaming deal. We simply don't know the true value of precious metals because we have never seen such a scenario. There is no "price discovery" in a world where banks are allowed to suppress prices at will with unbacked paper, either currency or contracts. As demand increases I think the bankers will be overwhelmed. I simply can't envision a scenario where supply can keep up with demand from a precious metals carnivore the size of China and India.
There is no bubble. Gold and silver are simply trading the inverse of the value of a dollar. As the dollar declines- they will go up. I am increasing my allocation to a full 33% of my available assets. I do not trade paper. This is physical gold and silver. I am expecting a big ramp up in prices as May nears and the world finds out that the FED and Mr. Bernanke must continue to print unless of course the stock market implodes first. Something has got to give and soon. He who panics first-panics best.
http://harveyorgan.blogspot.com/
This dude is scary. I think he could be my clone. http://www.kitco.com/ind/willie/feb232011.html
Saturday, February 26, 2011
The Greatest Conspiracy Ever- Part Two
In part one of this piece, I have retraced some of the things that have happened in the United States since the fall of 2008. I have shown how the banks had co-opted members of Congress. I did not include shady loans made to members. What I am hoping to do in this part of my "epic" two-part piece is to extend a premise to you that makes sense. But first I'd like to do a little housecleaning here.
I dislike the Republican Party almost as much as the Democrat Party. I view both of those entities, in current form, as enemies of the Republic. This is not some partisan hack on President Obama. I am no Bush fan either. I will even go to the fringe and tell you I did not particularly care for Reagan either- sacrilege to a lot of conservatives. Reagan was no conservative when it came to piling on debt.
Secondly, I spend a great deal of time reading. There is simply no way that the average American citizen could do what I do. I am certainly no smarter than any other news junkie. I love to read and write. I am a much better reader than a writer. I am blessed that I have the time and money to do as I please. Six of the letters on my keyboard are obliterated. My laptop is less than 4 years old. Having said all of that, let's get back on track.
Conspiracies can and do exist. The word conspiracy is descriptive. Somehow it has devolved into some nasty sounding thing. The definition I like is this one- Any concurrence in action; combination in bringing about a given result.
Conspiracies can be overt planning wherein the participants of crime actually sit down and plan their activities and build governing structures. Mafia style organizations, cartels, drug dealers. A conspiracy to elect people might be called a political action committee. A conspiracy to raise money might be a raffle or a fireman's ball. A political party conspires to elect party faithful. We simply don't attach the word conspiracy because somehow that has a negative connotation. Our language evolves that way. But conspire they do. The other type of conspiracy that occurs is not necessarily as overt. The conspirators don't actually plan. However, they have a mutual understanding whether they talk about it or not. In other words, they are all motivated by the same set of circumstances. They agree in principle. They might even seek the same outcome without enlisting the aid of other like minded individuals or co-conspirators. They want the same thing. An excellent example of this is a politician who wants to be re-elected. A politician cannot afford to isolate himself from the giant contributions of the banking industry. To do that spells death. Politicians are not elected or re-elected because of mom and pop donations of twenty bucks. The millions that banks contribute are essential to their survival. They become like minded conspirators- taking money- but reluctant to bite the hand that feeds them.
In late 2006 and early 2007, when everyone with warm blood was getting a home or an equity loan, banks had absolutely flooded the marketplace with easy credit. This was facilitated by the FED. As home loans began to deteriorate and default, the first people to know this would have been banks. They would have known this well in advance of the Presidential campaign. Many bankers like Treasury Secretary Hank Paulson, fresh from Goldman Sachs, would have known very early. They would not have told anyone either because to do so would have imploded their stock prices, ruined credit quality, caused panic and bank runs. You can't conspire to minimize damages and losses when you are doing all that truth telling either. They were certainly operating in stealth mode. But they needed a patsy. A sympathetic guy they could co-opt just in case things got really bad. They found one.
Enter Barack Obama. A man nobody outside of Illinois had ever heard of. A likable, well spoken and educated man, Obama was the polar opposite in appearance to George Bush. He was perfect. Obama had a tremendous amount of ties to the banking industry already. Obama bankrolled a record- billion dollars for his campaign. The premise that I am going to extend is simple. That Obama was selected by the banking elite because he was easily co-opted and sympathetic. That if and when the worst scenario played out, he would not seek to prosecute them or damage them further. Sure, they could see that far ahead- they were in the best position to do so. The rest of us were in the dark. And when he won, Obama announced that he would not look back. That we were going to move forward. That there would be no investigations and no prosecutions. Obama even extended the bail outs. That was the promise Obama made and kept to the criminal bankers and elite that elected him. That was the conspiracy, make no mistake about it. He'd sweep it all under the rug and make it all go away.
I was a little naive in 2008. I still believed in the rule of law and I gave people the benefit of the doubt when I could. Since that time, I have been seeking answers. Trying to sort out how guys from nowhere get elected President and crooked bankers waltz away scot free. There just isn't that much coincidence in the world. Most, if not all, human behavior is purposeful. This is no different. No matter how I look at this, or the thousands of articles I have read and pieced together, I simply can't escape the obvious. That President elect Obama and the criminal banking elite of this country, conspired to bankrupt this country and avoid prosecution. That they continue to do so is evident. Personally, I think they should all be sitting in prison somewhere. I'd like to see them all take their rightful place in history for the liars and thieves that they are.
The greatest conspiracy ever? Honestly, I can't think of one larger in scope. It took millions of greedy homeowners, hundreds of thousands of bankers to generate, complicity by Fannie, Freddie, Wall St., ratings agencies and the FED- and the cover up required complicity between the President, Congress, and every Federal Prosecutor and law enforcement agency with jurisdiction. That's pretty large.
Know this, you bastards. While the rest of my country is working their asses off trying to make ends meet- they don't have the time to see through you or put the pieces together that you so desperately try to conceal. Our people are being killed in places like Afghanistan while you piss on their graves. They are not stupid and they are not sheep. They are just people trying to make the best of their lives while cowards like you lie, scheme, and obstruct justice- steal our wealth and desecrate our country. They don't believe in conspiracies because they don't engage in them and they can't believe others do. Don't mistake their loyalty for stupidity. They may be patriots but you are certainly not. You are not public servants. You aren't even decent people. No matter how this plays out we know what you've done. That's finally becoming "transparent" to a few of us.
I dislike the Republican Party almost as much as the Democrat Party. I view both of those entities, in current form, as enemies of the Republic. This is not some partisan hack on President Obama. I am no Bush fan either. I will even go to the fringe and tell you I did not particularly care for Reagan either- sacrilege to a lot of conservatives. Reagan was no conservative when it came to piling on debt.
Secondly, I spend a great deal of time reading. There is simply no way that the average American citizen could do what I do. I am certainly no smarter than any other news junkie. I love to read and write. I am a much better reader than a writer. I am blessed that I have the time and money to do as I please. Six of the letters on my keyboard are obliterated. My laptop is less than 4 years old. Having said all of that, let's get back on track.
Conspiracies can and do exist. The word conspiracy is descriptive. Somehow it has devolved into some nasty sounding thing. The definition I like is this one- Any concurrence in action; combination in bringing about a given result.
Conspiracies can be overt planning wherein the participants of crime actually sit down and plan their activities and build governing structures. Mafia style organizations, cartels, drug dealers. A conspiracy to elect people might be called a political action committee. A conspiracy to raise money might be a raffle or a fireman's ball. A political party conspires to elect party faithful. We simply don't attach the word conspiracy because somehow that has a negative connotation. Our language evolves that way. But conspire they do. The other type of conspiracy that occurs is not necessarily as overt. The conspirators don't actually plan. However, they have a mutual understanding whether they talk about it or not. In other words, they are all motivated by the same set of circumstances. They agree in principle. They might even seek the same outcome without enlisting the aid of other like minded individuals or co-conspirators. They want the same thing. An excellent example of this is a politician who wants to be re-elected. A politician cannot afford to isolate himself from the giant contributions of the banking industry. To do that spells death. Politicians are not elected or re-elected because of mom and pop donations of twenty bucks. The millions that banks contribute are essential to their survival. They become like minded conspirators- taking money- but reluctant to bite the hand that feeds them.
In late 2006 and early 2007, when everyone with warm blood was getting a home or an equity loan, banks had absolutely flooded the marketplace with easy credit. This was facilitated by the FED. As home loans began to deteriorate and default, the first people to know this would have been banks. They would have known this well in advance of the Presidential campaign. Many bankers like Treasury Secretary Hank Paulson, fresh from Goldman Sachs, would have known very early. They would not have told anyone either because to do so would have imploded their stock prices, ruined credit quality, caused panic and bank runs. You can't conspire to minimize damages and losses when you are doing all that truth telling either. They were certainly operating in stealth mode. But they needed a patsy. A sympathetic guy they could co-opt just in case things got really bad. They found one.
Enter Barack Obama. A man nobody outside of Illinois had ever heard of. A likable, well spoken and educated man, Obama was the polar opposite in appearance to George Bush. He was perfect. Obama had a tremendous amount of ties to the banking industry already. Obama bankrolled a record- billion dollars for his campaign. The premise that I am going to extend is simple. That Obama was selected by the banking elite because he was easily co-opted and sympathetic. That if and when the worst scenario played out, he would not seek to prosecute them or damage them further. Sure, they could see that far ahead- they were in the best position to do so. The rest of us were in the dark. And when he won, Obama announced that he would not look back. That we were going to move forward. That there would be no investigations and no prosecutions. Obama even extended the bail outs. That was the promise Obama made and kept to the criminal bankers and elite that elected him. That was the conspiracy, make no mistake about it. He'd sweep it all under the rug and make it all go away.
I was a little naive in 2008. I still believed in the rule of law and I gave people the benefit of the doubt when I could. Since that time, I have been seeking answers. Trying to sort out how guys from nowhere get elected President and crooked bankers waltz away scot free. There just isn't that much coincidence in the world. Most, if not all, human behavior is purposeful. This is no different. No matter how I look at this, or the thousands of articles I have read and pieced together, I simply can't escape the obvious. That President elect Obama and the criminal banking elite of this country, conspired to bankrupt this country and avoid prosecution. That they continue to do so is evident. Personally, I think they should all be sitting in prison somewhere. I'd like to see them all take their rightful place in history for the liars and thieves that they are.
The greatest conspiracy ever? Honestly, I can't think of one larger in scope. It took millions of greedy homeowners, hundreds of thousands of bankers to generate, complicity by Fannie, Freddie, Wall St., ratings agencies and the FED- and the cover up required complicity between the President, Congress, and every Federal Prosecutor and law enforcement agency with jurisdiction. That's pretty large.
Know this, you bastards. While the rest of my country is working their asses off trying to make ends meet- they don't have the time to see through you or put the pieces together that you so desperately try to conceal. Our people are being killed in places like Afghanistan while you piss on their graves. They are not stupid and they are not sheep. They are just people trying to make the best of their lives while cowards like you lie, scheme, and obstruct justice- steal our wealth and desecrate our country. They don't believe in conspiracies because they don't engage in them and they can't believe others do. Don't mistake their loyalty for stupidity. They may be patriots but you are certainly not. You are not public servants. You aren't even decent people. No matter how this plays out we know what you've done. That's finally becoming "transparent" to a few of us.
The Greatest Conspiracy Ever- Part One
In the fall of 2008, it was absolutely breathtaking to watch the stock market crash. I had shorted a number of stocks, particularly Countrywide Mortgage, but covered that position far too early. I had no idea of just how toxic that company had become. Clearly it exceeded my expectations. Fannie, Freddie, and many of the giant banks were every bit as bad and still are.
The size and scope of the problem revealed itself when the FED was finally forced to disclose how much it had lent it's member banks back then, which was just released a couple of months ago. Over 9 trillion dollars. That was in addition to the 1 trillion Hank Paulson and Congress extorted from the American people. Ten trillion dollars. 10,000,000,000,000.00. http://nation.foxnews.com/bailouts/2010/12/02/shocking-fed-s-trillion-dollar-foreign-bank-bailout
So why didn't the FED, who apparently had a spare 9 trillion dollars laying around, simply loan that last 700 billion to it's member banks? Why did it seek that bailout loan from Congress?
In fact, that question is so prescient that it begs to be asked. The answer I believe- is far more sinister than anyone cares to believe. In fact, that 700 billion dollars was used to co-opt and corrupt Congress. Here is the even more sinister part. The FED could not bail out the insurer, AIG. American International Group is a private insurer, a public corporation, not a primary bank or dealer. It's counter party losses were staggering. The beneficiaries of those losses were the banks. If AIG were allowed to fail, all those banks were not going to get their insurance money.
So Congress, it's most influential members already placed in office with the help of million dollar campaign contributions from banks, was co-opted. Called on to pay back the bankers. Once the money was turned over, they became co-conspirators. Although I am certain that some knew precisely what was happening, I'll bet many did not. They were herd animals and probably felt they had no alternative. You can't bite the hand that feeds you. And at some point in time and certainly thereafter- you can bet they figured out they had been conned.
It is the nastiest lie in Washington. Prosecuting bankers, means Congress members are also at risk. Not only criminal prosecution but undoubtedly re-election loss. Particularly those that knew precisely what was happening. Slick bastards like Chris Dodd and Barney Frank. But now I am going to take you where nobody has ever gone before. This is how the mind of an old cop works.
If all of this is true, and I believe that is, there are two other huge problems. One is the existing President, and the other larger pressing problem, is the incoming President. You have to be able to co-opt both of those men to make your plan work. Because both of those men have the power to stop this dead in it's tracks. They are the heads of the executive branch. The enforcement division of the United States. If either man were not on board, the plan would unravel. Bush was clearly elite, sympathetic, and he had been co-opted long ago. It was his staff who put this ugly plan into motion as Bush was about to leave office. Bush had suffered at the hands of an American people who were very bitter and angry with him. Quite honestly, I don't think Bush gave two shits whether the American people got hosed or not. The Katrina backlash comes to mind. Bush might have even viewed it as revenge. But the most interesting piece of this puzzle is Barack Obama.
Remember how Obama literally came out of nowhere?
I clipped the following table from Open Secrets who I think is a pretty reputable source of campaign contributors. Obama raised nearly 1 billion dollars. Here are some of the larger beneficiaries. Hmmm...Berkeley, that makes sense. A million from Goldman Sachs- oh yea- they are the ones that got all of that money from AIG...(Hank's bailout) There's Google who has been helping the government recently. There's Citibank- the most bankrupt of the TBTF banks, JP Morgan the United States Hedge Fund, UBS with all of those elite Swiss Bank Accounts and my favorite, GE. Get a load of this link and keep those campaign contributions in mind. Remember too- that Jeffrey Immelt of GE just became Obama's new business Czar and suddenly President Obama wants to build a train? http://washingtonexaminer.com/blogs/beltway-confidential/ge-obama-affair-and-jeff-immelt-s-harsh-words
The size and scope of the problem revealed itself when the FED was finally forced to disclose how much it had lent it's member banks back then, which was just released a couple of months ago. Over 9 trillion dollars. That was in addition to the 1 trillion Hank Paulson and Congress extorted from the American people. Ten trillion dollars. 10,000,000,000,000.00. http://nation.foxnews.com/bailouts/2010/12/02/shocking-fed-s-trillion-dollar-foreign-bank-bailout
So why didn't the FED, who apparently had a spare 9 trillion dollars laying around, simply loan that last 700 billion to it's member banks? Why did it seek that bailout loan from Congress?
In fact, that question is so prescient that it begs to be asked. The answer I believe- is far more sinister than anyone cares to believe. In fact, that 700 billion dollars was used to co-opt and corrupt Congress. Here is the even more sinister part. The FED could not bail out the insurer, AIG. American International Group is a private insurer, a public corporation, not a primary bank or dealer. It's counter party losses were staggering. The beneficiaries of those losses were the banks. If AIG were allowed to fail, all those banks were not going to get their insurance money.
So Congress, it's most influential members already placed in office with the help of million dollar campaign contributions from banks, was co-opted. Called on to pay back the bankers. Once the money was turned over, they became co-conspirators. Although I am certain that some knew precisely what was happening, I'll bet many did not. They were herd animals and probably felt they had no alternative. You can't bite the hand that feeds you. And at some point in time and certainly thereafter- you can bet they figured out they had been conned.
It is the nastiest lie in Washington. Prosecuting bankers, means Congress members are also at risk. Not only criminal prosecution but undoubtedly re-election loss. Particularly those that knew precisely what was happening. Slick bastards like Chris Dodd and Barney Frank. But now I am going to take you where nobody has ever gone before. This is how the mind of an old cop works.
If all of this is true, and I believe that is, there are two other huge problems. One is the existing President, and the other larger pressing problem, is the incoming President. You have to be able to co-opt both of those men to make your plan work. Because both of those men have the power to stop this dead in it's tracks. They are the heads of the executive branch. The enforcement division of the United States. If either man were not on board, the plan would unravel. Bush was clearly elite, sympathetic, and he had been co-opted long ago. It was his staff who put this ugly plan into motion as Bush was about to leave office. Bush had suffered at the hands of an American people who were very bitter and angry with him. Quite honestly, I don't think Bush gave two shits whether the American people got hosed or not. The Katrina backlash comes to mind. Bush might have even viewed it as revenge. But the most interesting piece of this puzzle is Barack Obama.
Remember how Obama literally came out of nowhere?
I clipped the following table from Open Secrets who I think is a pretty reputable source of campaign contributors. Obama raised nearly 1 billion dollars. Here are some of the larger beneficiaries. Hmmm...Berkeley, that makes sense. A million from Goldman Sachs- oh yea- they are the ones that got all of that money from AIG...(Hank's bailout) There's Google who has been helping the government recently. There's Citibank- the most bankrupt of the TBTF banks, JP Morgan the United States Hedge Fund, UBS with all of those elite Swiss Bank Accounts and my favorite, GE. Get a load of this link and keep those campaign contributions in mind. Remember too- that Jeffrey Immelt of GE just became Obama's new business Czar and suddenly President Obama wants to build a train? http://washingtonexaminer.com/blogs/beltway-confidential/ge-obama-affair-and-jeff-immelt-s-harsh-words
| University of California | $1,591,395 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goldman Sachs | $994,795 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Harvard University | $854,747 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Microsoft Corp | $833,617 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Google Inc | $803,436 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Citigroup Inc | $701,290 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| JPMorgan Chase & Co | $695,132 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Time Warner | $590,084 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sidley Austin LLP | $588,598 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stanford University | $586,557 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| National Amusements Inc | $551,683 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| UBS AG | $543,219 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wilmerhale Llp | $542,618 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Skadden, Arps et al | $530,839 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| IBM Corp | $528,822 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Columbia University | $528,302 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Morgan Stanley | $514,881 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| General Electric | $499,130 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| US Government | $494,820 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Friday, February 25, 2011
The Social Security Trust Fund...Dead Money
Every once in awhile, I stumble across somebody who is under the impression that Social Security funds are resting in some safe account that politicians can't raid and haven't spent.
Four years ago, I was one of those guys. A few folks pointed out- that I was a moron.
Excess contributions and reserves have been spent. When the SSA posted a 49 billion dollar loss this year, that raised my eyebrows. Remember when they said the fund wouldn't go red until 2018? Wrong.
So when you are already bleeding money, what's the smart move? Well according to this government, just cut the employees share. For a year. Snipped from an online article.
The FICA tax (consisting of Social Security and Medicare taxes) is imposed on both employers and employees at an aggregate rate of 15.3 percent. Half is paid by the employer and half is paid (through withholding) by the employee. That is, each employer and employee pay 7.65 percent in FICA tax. Of each half, 6.4 percent is Social Security Tax.
In 2011, the Social Security tax is imposed on the first $106,800 earned by an employee. For this year only, the Act reduces the employee’s share of the Social Security Tax to 4.4 percent of this wage base. This means that an employee making $106,800 will pay $2,136 less in Social Security Tax in 2011. An employee making $50,000 will pay $1,000 less.
-You just can't make this shit up. You can't rob Peter to pay Paul. Why not? Because Peter has to finance that 49 billion dollar loss with more Treasury debt. Interest. This year, we are not just going to lose the 3% that should be paid in...we are going to lose an additional 3 or 4% in interest. Can you imagine how ugly this is going to be at the end of this year? I think with the loss of revenue, baby boomers taking their first out, higher costs, the SSA fund loss could triple this year to 150 billion. More treasury debt, more interest.
It also set a unique precedent just prior to an election year. Do you think it's possible to extend this again through 2012? I sure do.
The interesting thing, I think, is that while the DC morons argue about those paltry cuts in the discretionary part of the budget- they could be dismantling and phasing out SS- particularly for younger folks. That has a far greater reward and return. Of course the howls from the largesse gatherers would be so intense- that politicians see it as career suicide. And it probably is.
Sooner or later someone is going to have to step up and commit suicide. That's the way it is. Like all good politicians before them- I fully expect this spineless crew to let someone else commit suicide. I think the whole system implodes as the Bernank just cranks up the presses some more. I can easily see trillion dollar losses in the next five years as the boomers exit at a rapid pace and nobody pays in. The losses will rise exponentially and interest will get tacked on. If this crew can't make some paltry cuts in this years budget and agree on them, what chance do they have of rescuing Social Security? The SSA is dead money...it's just a matter of when.
Four years ago, I was one of those guys. A few folks pointed out- that I was a moron.
Excess contributions and reserves have been spent. When the SSA posted a 49 billion dollar loss this year, that raised my eyebrows. Remember when they said the fund wouldn't go red until 2018? Wrong.
So when you are already bleeding money, what's the smart move? Well according to this government, just cut the employees share. For a year. Snipped from an online article.
The FICA tax (consisting of Social Security and Medicare taxes) is imposed on both employers and employees at an aggregate rate of 15.3 percent. Half is paid by the employer and half is paid (through withholding) by the employee. That is, each employer and employee pay 7.65 percent in FICA tax. Of each half, 6.4 percent is Social Security Tax.
In 2011, the Social Security tax is imposed on the first $106,800 earned by an employee. For this year only, the Act reduces the employee’s share of the Social Security Tax to 4.4 percent of this wage base. This means that an employee making $106,800 will pay $2,136 less in Social Security Tax in 2011. An employee making $50,000 will pay $1,000 less.
-You just can't make this shit up. You can't rob Peter to pay Paul. Why not? Because Peter has to finance that 49 billion dollar loss with more Treasury debt. Interest. This year, we are not just going to lose the 3% that should be paid in...we are going to lose an additional 3 or 4% in interest. Can you imagine how ugly this is going to be at the end of this year? I think with the loss of revenue, baby boomers taking their first out, higher costs, the SSA fund loss could triple this year to 150 billion. More treasury debt, more interest.
It also set a unique precedent just prior to an election year. Do you think it's possible to extend this again through 2012? I sure do.
The interesting thing, I think, is that while the DC morons argue about those paltry cuts in the discretionary part of the budget- they could be dismantling and phasing out SS- particularly for younger folks. That has a far greater reward and return. Of course the howls from the largesse gatherers would be so intense- that politicians see it as career suicide. And it probably is.
Sooner or later someone is going to have to step up and commit suicide. That's the way it is. Like all good politicians before them- I fully expect this spineless crew to let someone else commit suicide. I think the whole system implodes as the Bernank just cranks up the presses some more. I can easily see trillion dollar losses in the next five years as the boomers exit at a rapid pace and nobody pays in. The losses will rise exponentially and interest will get tacked on. If this crew can't make some paltry cuts in this years budget and agree on them, what chance do they have of rescuing Social Security? The SSA is dead money...it's just a matter of when.
Thursday, February 24, 2011
Huckabee Now Using "Frankenstein" Adjective to Describe Obamacare
Interesting. Come to think of it, that 2300, 2600, or 2700 page monstrosity of a health care bill probably qualifies for the term. Throw in the FED, the tax code, and the people dreaming up this garbage and somehow it all makes sense.
http://www.newsmax.com/Headline/huckabee-health-care-obama/2011/02/24/id/387342?s=al&promo_code=BBF5-1
I will remember Huckabee as the Governor who pardoned a prison inmate for what seemed to be an outrageous sentence of 60 years for burglary at age 17. That same inmate killed four police officers in Washington State. Clearly the cops in that case, the prosecutor, and the sentencing judge knew something that Governor Huckabee didn't.
http://www.newsmax.com/Headline/huckabee-health-care-obama/2011/02/24/id/387342?s=al&promo_code=BBF5-1
I will remember Huckabee as the Governor who pardoned a prison inmate for what seemed to be an outrageous sentence of 60 years for burglary at age 17. That same inmate killed four police officers in Washington State. Clearly the cops in that case, the prosecutor, and the sentencing judge knew something that Governor Huckabee didn't.
Buying an RFID Chip, Another Wild Ass Day in the Silver Market
A few days ago, while conversing with the passport lady at the Post Office, she asked me if I would be traveling soon. I told her I wasn't getting a passport to travel- I was getting one to evacuate.
So today, for only 151.00 dollars, I bought one of those RFID embedded passports. I don't really like embedded chips scattering my personal data from up to 30 feet away and heaven forbid the chip gets disabled. Some sort of crushing accident, perhaps a fall on my ass. I hope that doesn't happen but I've been known to be a little bit clumsy.
I need the passport for a trip I am going to take through Canada with my Roofracer pal, Troy. He has one of those underpowered Harley soft tails that makes a lot of noise but doesn't go fast. My bike has the opposite characteristics. In fact, with six cylinders and carburetors, I'm not sure it gets much better gas mileage than my car. I need the passport for a couple of reasons.
In the unlikely event (let me give you a wild ass example) of the government declaring that precious metals were illegal and that you had to exchange them for currency- that might necessitate a trip to one of our adjoining countries. I am a creative problem solver, ya know what I mean? Not that I would bother checking to find the cheapest safety deposit boxes in Canadian banks. That would be lunacy.
So after I paid the vig to the government shysters, I went down to the coin dealer. Just before leaving the house- I had watched silver absolutely in freefall. At one point it dipped nearly 2 bucks which is 6% off. I am always looking for spring "sales events" and when I arrived at the dealer he told me he couldn't buy or sell for a few minutes. While I was standing there, some guy came in and sold someone's silverware. He had it in a big freezer bag which is more commonly used for carrying pot. I wondered which commodity he'd rather have. Judging from the look of him, it was a toss up. At any rate, the gal behind the counter scratched each piece, eyedropped some reagent on it, and seemed satisfied with the results. At any moment, I expected this guy to open his mouth and pry out a gold crown and fork it over although he seemed a little short on teeth as it was.
Today, I was very happy not to be in the paper silver market. My heart goes out to those longs which cannot stand for delivery. Maybe we'll get 'em next month.
So today, for only 151.00 dollars, I bought one of those RFID embedded passports. I don't really like embedded chips scattering my personal data from up to 30 feet away and heaven forbid the chip gets disabled. Some sort of crushing accident, perhaps a fall on my ass. I hope that doesn't happen but I've been known to be a little bit clumsy.
I need the passport for a trip I am going to take through Canada with my Roofracer pal, Troy. He has one of those underpowered Harley soft tails that makes a lot of noise but doesn't go fast. My bike has the opposite characteristics. In fact, with six cylinders and carburetors, I'm not sure it gets much better gas mileage than my car. I need the passport for a couple of reasons.
In the unlikely event (let me give you a wild ass example) of the government declaring that precious metals were illegal and that you had to exchange them for currency- that might necessitate a trip to one of our adjoining countries. I am a creative problem solver, ya know what I mean? Not that I would bother checking to find the cheapest safety deposit boxes in Canadian banks. That would be lunacy.
So after I paid the vig to the government shysters, I went down to the coin dealer. Just before leaving the house- I had watched silver absolutely in freefall. At one point it dipped nearly 2 bucks which is 6% off. I am always looking for spring "sales events" and when I arrived at the dealer he told me he couldn't buy or sell for a few minutes. While I was standing there, some guy came in and sold someone's silverware. He had it in a big freezer bag which is more commonly used for carrying pot. I wondered which commodity he'd rather have. Judging from the look of him, it was a toss up. At any rate, the gal behind the counter scratched each piece, eyedropped some reagent on it, and seemed satisfied with the results. At any moment, I expected this guy to open his mouth and pry out a gold crown and fork it over although he seemed a little short on teeth as it was.
Today, I was very happy not to be in the paper silver market. My heart goes out to those longs which cannot stand for delivery. Maybe we'll get 'em next month.
Welcome to the Herd/ More Proof of Corrupt Government/SEC General Counsel Departs Quietly
After reading a fascinating article on why the SEC General Counsel recently departed quietly- I have added Lawyers on Strike to the blogroll. Please read this article, it's short. http://strikelawyer.wordpress.com/2011/02/23/interesting-lesson-in-journalism/
I want you to stop and think about this for a moment. The fucking SEC General Counsel was invested in Madoff's Fund??? And Madoff went uninvestigated for 10 years???
Please tell me what IF ANYTHING, qualifies as a conflict of interest?? This guy stands to lose 1.5 million profit he got from Madoff?? Turns out that this piece of shit, served as General Counsel to the SEC from 2000-2002. He was rehired in 2009 shortly after Madoff was arrested. He would have had all of this time to publicly disclose that he inherited profits from Madoff and certainly before beginning his second tour of duty at the SEC. Even the idiots at the SEC might have run a little scared. But hell, who knows? Here is the story of the poor sap who spent 10 years trying to expose Madoff without success. Go figure. http://www.americanfreepress.net/html/man_who_exposed_madoff_190.html
In fairness, Becker inherited the funds from his mother. What are the chances he knew and advised his mother where to invest his future inheritance? I'm saying better than average. Thus the chances of Madoff being investigated- in the 2000-2002 time frame? Nil. Tough to say how much mom had made by then and what clout Becker still had after he left.
Of course, David Becker, has excuses. See here. http://www.washingtonpost.com/wp-dyn/content/article/2011/02/23/AR2011022306509.html
Lawyers are subject to ethical code and conduct rules. That of course is an unproven theory and every once in awhile, the Bar in any given state, actually imposes some sanction on one of their kindred spirits. It is usually a scolding for having got caught.
All of Becker's excuses don't amount to shit. Any kind of good ethical conduct would demand disclosure at some point- years prior to today.
I am getting a headache just thinking about this.
I want you to stop and think about this for a moment. The fucking SEC General Counsel was invested in Madoff's Fund??? And Madoff went uninvestigated for 10 years???
Please tell me what IF ANYTHING, qualifies as a conflict of interest?? This guy stands to lose 1.5 million profit he got from Madoff?? Turns out that this piece of shit, served as General Counsel to the SEC from 2000-2002. He was rehired in 2009 shortly after Madoff was arrested. He would have had all of this time to publicly disclose that he inherited profits from Madoff and certainly before beginning his second tour of duty at the SEC. Even the idiots at the SEC might have run a little scared. But hell, who knows? Here is the story of the poor sap who spent 10 years trying to expose Madoff without success. Go figure. http://www.americanfreepress.net/html/man_who_exposed_madoff_190.html
In fairness, Becker inherited the funds from his mother. What are the chances he knew and advised his mother where to invest his future inheritance? I'm saying better than average. Thus the chances of Madoff being investigated- in the 2000-2002 time frame? Nil. Tough to say how much mom had made by then and what clout Becker still had after he left.
Of course, David Becker, has excuses. See here. http://www.washingtonpost.com/wp-dyn/content/article/2011/02/23/AR2011022306509.html
Lawyers are subject to ethical code and conduct rules. That of course is an unproven theory and every once in awhile, the Bar in any given state, actually imposes some sanction on one of their kindred spirits. It is usually a scolding for having got caught.
All of Becker's excuses don't amount to shit. Any kind of good ethical conduct would demand disclosure at some point- years prior to today.
I am getting a headache just thinking about this.
Need a Laugh? This One's Worth a Rewind...
This doesn't have a damn thing to do with government hating. I put this up... well... because it's my fucking blog and even I...get tired of talking about our crooked government. One of my all time favorite scenes. ALWAYS worth a giggle.
Obama Talks Tough
Two and a half minutes of your life gone forever. Aw c'mon, it's not like you have a job or some place to be.
We Have a Winner!! Wordsmith of the Week!!
This week's gem courtesy of the BBC. Maggie Shiels, you might take down a Pulitzer here.
Apple beats off move to reveal Jobs succession details
Wednesday, February 23, 2011
The Absolute Best Thing I Have Read All Week, ROTFLMAO!
From ZeroHedge. Fucking priceless.
Submitted by Tyler Durden on 02/23/2011 11:51 -0500
You really can't make this shit up: "The economy is in a much stronger position to handle” rising oil prices, Tim Geithner said today during a Bloomberg Breakfast in Washington. “Central banks have a lot of experience in managing these things." We are, all of us, now doomed.
Bloomberg's account of one lunatic's daily ramblings in a collapsing world:
Geithner Says Not To Worry About Surging Oil Prices: "Central Banks Have A Lot Of Experience In Managing These Things"
You really can't make this shit up: "The economy is in a much stronger position to handle” rising oil prices, Tim Geithner said today during a Bloomberg Breakfast in Washington. “Central banks have a lot of experience in managing these things." We are, all of us, now doomed.
Bloomberg's account of one lunatic's daily ramblings in a collapsing world:
Tomorrow's Promise
Baseball, apple pie, motherhood. Not sure it gets any better. Note the tattoo on the cankle. Proof positive that given enough beer, anything can happen.
A Cruel Irony
A lot of things can happen in 32 years. Significant history. I'd like to take you back to 1971 for just a moment. Some forty years ago when a very significant event took place. Most have never heard of it. I'll call it the unraveling. Go figure, Nixon was in the WH.
On August 15, 1971, the United States pulled out of the Bretton Woods Accord taking the US off the Gold Exchange Standard (whereby only the value of the US dollar had been pegged to the price of gold and all other currencies were pegged to the US dollar), allowing the dollar to "float". Shortly thereafter, Britain followed, floating the pound sterling. The industrialized nations followed suit with their respective currencies. In anticipation of the fluctuation of currencies as they stabilized against each other, the industrialized nations also increased their reserves (printing money) in amounts far greater than ever before. The result was a depreciation of the value of the US dollar, as well as the other currencies of the world. Because oil was priced in dollars, this meant that oil producers were receiving less real income for the same price. The OPEC cartel issued a joint communique stating that forthwith they would price a barrel of oil against gold.
That singular event would change the course of history forever. As a direct result of these new vast money printing capabilities, OPEC quickly scrambled and formed. The price of oil quadrupled from 3 bucks to 12 bucks a barrel. Gas went to .87 a gallon.
Another interesting thing happened. The bankers, the criminal class, no longer bound by the gravitational pull of gold, went on a printing spree. By 1979, we had us a full blown recession. An ugly one. Inflation was rampant- approaching 12%. Eventually Fed Chairman, Paul Volcker, put the brakes on that mess. He hiked the Fed Funds rate to an ungawdly 20%. http://en.wikipedia.org/wiki/Paul_Volcker
Our debt has never gone down since then. What was once an annoyance has now become an anchor. http://www.scribd.com/doc/5467519/US-National-Debt-19292008
I was in college in 1979. Working, drinking too much, and falling behind. I bought some silver back then. In fact, I made a 200% profit in just a few months and bought a car with it. I paid off the student loan I used to buy the silver with. I had toyed with Geology, English, and Economics as majors, but instead I landed on law enforcement. I graduated just as the recession was ending. That was the fall of 1982.
In 1982, we were still the beacon of the capitalistic world. We didn't trust government but we had a rule of law. We just knew we would bounce back. Leaders had balls back then. They took a stand. There were always things to worry about and we were worried about the Japanese. They were making better cars and better electronics. They were even buying our debt and our real estate. The Japanese looked unstoppable. But we underestimated them. It would be the Japanese, and no other, that would do in the Japanese. Their banking class, the criminals, did what bankers always do. In the late 80's, they relaxed all lending standards and printed themselves into oblivion. They are still mired in that mess some 20 years later.
Now you'd think with all of that history staring us in the face, we'd have learned something. No, not us. We were smug. In the intervening years, the bankers our own criminal class, managed to buy off and grease the members of Congress. By 1999, the last control came off. The Glass Steagall act. Not coincidentally, and shortly thereafter, the criminal class did the same thing they've always done. Lacking a gold standard, ignoring the Japan experiment, and with no legal entanglements binding them- the bankers went out and did the very same thing that bankers always do. They gave away money and fueled that dot.com bust. It would take just 6 more years to fully unravel. The new bankers, smarter than those idiots in 1929, the idiots of 1971, the idiots of Japan. Thus we became the idiots of 2007.
There are a few common denominators. In every case, bankers controlled the money supply. In every case, they managed to to exploit or remove money supply constraints. In every case, the result was the same. Inflation, a bust, some sort of deflation/stagflation, unemployment. For years and years.
You'd think we'd learn.
So what is it like in 2011? We took our lumps in 1979 and we got well in 4 years. We had the capacity to bounce back and even though we didn't trust government at least there was a rule of law- that existed at least through the savings and loan scandals of the 80's. Today, there is no rule of law. The criminal class was allowed to escape. Obama saw to that. We have lost 30 million jobs. We are mired in debt that the world doesn't want to buy and so we buy our own. The Bernank tries to spend us out of debt and blows hot air into a stock market balloon hoping to re-inflate it. He lies about inflation and the BLS complies. The media tries it's own brand of CPR. The banks are mostly zombies- allowed to fudge their balance sheets to present an illusion of health. Our leaders have all just fled emotionally, not present, like Wisconsin Democrats running off to some neighboring state to hide and hope it will all go away.
All of those perceived enemies. It seems the world didn't need to worry about us. Sooner or later, like the Japanese, we would do to ourselves what no other country had been able to do us. Unstoppable, I think, for just a while.
What is the difference in 2011? Nobody changed the rules. We have no confidence in our ability to bounce back. We have no leadership. We have lost all hope that this will change soon. When I see those two words, hope and change, I see it as a cruel irony. That we fell for that. That's the difference between then and now.
On August 15, 1971, the United States pulled out of the Bretton Woods Accord taking the US off the Gold Exchange Standard (whereby only the value of the US dollar had been pegged to the price of gold and all other currencies were pegged to the US dollar), allowing the dollar to "float". Shortly thereafter, Britain followed, floating the pound sterling. The industrialized nations followed suit with their respective currencies. In anticipation of the fluctuation of currencies as they stabilized against each other, the industrialized nations also increased their reserves (printing money) in amounts far greater than ever before. The result was a depreciation of the value of the US dollar, as well as the other currencies of the world. Because oil was priced in dollars, this meant that oil producers were receiving less real income for the same price. The OPEC cartel issued a joint communique stating that forthwith they would price a barrel of oil against gold.
That singular event would change the course of history forever. As a direct result of these new vast money printing capabilities, OPEC quickly scrambled and formed. The price of oil quadrupled from 3 bucks to 12 bucks a barrel. Gas went to .87 a gallon.
Another interesting thing happened. The bankers, the criminal class, no longer bound by the gravitational pull of gold, went on a printing spree. By 1979, we had us a full blown recession. An ugly one. Inflation was rampant- approaching 12%. Eventually Fed Chairman, Paul Volcker, put the brakes on that mess. He hiked the Fed Funds rate to an ungawdly 20%. http://en.wikipedia.org/wiki/Paul_Volcker
Our debt has never gone down since then. What was once an annoyance has now become an anchor. http://www.scribd.com/doc/5467519/US-National-Debt-19292008
I was in college in 1979. Working, drinking too much, and falling behind. I bought some silver back then. In fact, I made a 200% profit in just a few months and bought a car with it. I paid off the student loan I used to buy the silver with. I had toyed with Geology, English, and Economics as majors, but instead I landed on law enforcement. I graduated just as the recession was ending. That was the fall of 1982.
In 1982, we were still the beacon of the capitalistic world. We didn't trust government but we had a rule of law. We just knew we would bounce back. Leaders had balls back then. They took a stand. There were always things to worry about and we were worried about the Japanese. They were making better cars and better electronics. They were even buying our debt and our real estate. The Japanese looked unstoppable. But we underestimated them. It would be the Japanese, and no other, that would do in the Japanese. Their banking class, the criminals, did what bankers always do. In the late 80's, they relaxed all lending standards and printed themselves into oblivion. They are still mired in that mess some 20 years later.
Now you'd think with all of that history staring us in the face, we'd have learned something. No, not us. We were smug. In the intervening years, the bankers our own criminal class, managed to buy off and grease the members of Congress. By 1999, the last control came off. The Glass Steagall act. Not coincidentally, and shortly thereafter, the criminal class did the same thing they've always done. Lacking a gold standard, ignoring the Japan experiment, and with no legal entanglements binding them- the bankers went out and did the very same thing that bankers always do. They gave away money and fueled that dot.com bust. It would take just 6 more years to fully unravel. The new bankers, smarter than those idiots in 1929, the idiots of 1971, the idiots of Japan. Thus we became the idiots of 2007.
There are a few common denominators. In every case, bankers controlled the money supply. In every case, they managed to to exploit or remove money supply constraints. In every case, the result was the same. Inflation, a bust, some sort of deflation/stagflation, unemployment. For years and years.
You'd think we'd learn.
So what is it like in 2011? We took our lumps in 1979 and we got well in 4 years. We had the capacity to bounce back and even though we didn't trust government at least there was a rule of law- that existed at least through the savings and loan scandals of the 80's. Today, there is no rule of law. The criminal class was allowed to escape. Obama saw to that. We have lost 30 million jobs. We are mired in debt that the world doesn't want to buy and so we buy our own. The Bernank tries to spend us out of debt and blows hot air into a stock market balloon hoping to re-inflate it. He lies about inflation and the BLS complies. The media tries it's own brand of CPR. The banks are mostly zombies- allowed to fudge their balance sheets to present an illusion of health. Our leaders have all just fled emotionally, not present, like Wisconsin Democrats running off to some neighboring state to hide and hope it will all go away.
All of those perceived enemies. It seems the world didn't need to worry about us. Sooner or later, like the Japanese, we would do to ourselves what no other country had been able to do us. Unstoppable, I think, for just a while.
What is the difference in 2011? Nobody changed the rules. We have no confidence in our ability to bounce back. We have no leadership. We have lost all hope that this will change soon. When I see those two words, hope and change, I see it as a cruel irony. That we fell for that. That's the difference between then and now.
Tuesday, February 22, 2011
On the Groun' in Boise Town
What a day!
One of my coins shops was absolutely inundated with sellers. One guy walked in with 1100 ounces of silver which appeared to be collected over a century. All kinds of different pieces, fascinating stuff. I wanted to pick through them and buy a few...but the throngs waiting to sell made it necessary for me to just sit down and shut up. I wanted to yell at them...don't sell!!!
Another guy unloaded a 100 oz bar. He got his 3300 bucks and the guy behind him bought it right back from the dealer for a 50 buck premium which was kind of nice. The seller could have just turned around and sold it- and cut the dealer out of the transaction.
I headed up to my dealers on the bench. They were virtually out of silver entirely. One had three one hundred ounce bars and little else. The other dealer just had some bizarre little pieces left- although two people came in clutching odd containers full of stuff. Probably sellers. People in Boise carry silver around in weird ass containers. Those tin candy boxes are popular. Saw a tupperware container full of pieces and some guy came in with a Crown Royal sack with gold and silver in it.
Buying and selling yesterday and today was at frenzied levels, just like the futures market. Only one of the dealers was open on Monday and he said it was ape shit crazy but he said he had more buyers than sellers. You get the feeling that this is the capitulation point. I think the sellers are going to be kicking themselves in the ass as the worldwide effects of unrest and hyperinflation unfold. But that's what makes the market.
Seeing the final numbers tonight already in the futures market. Three days to go and the bankers have to be sweating bullets. Expecting to see the bankers try to drive the market down over night...
One of my coins shops was absolutely inundated with sellers. One guy walked in with 1100 ounces of silver which appeared to be collected over a century. All kinds of different pieces, fascinating stuff. I wanted to pick through them and buy a few...but the throngs waiting to sell made it necessary for me to just sit down and shut up. I wanted to yell at them...don't sell!!!
Another guy unloaded a 100 oz bar. He got his 3300 bucks and the guy behind him bought it right back from the dealer for a 50 buck premium which was kind of nice. The seller could have just turned around and sold it- and cut the dealer out of the transaction.
I headed up to my dealers on the bench. They were virtually out of silver entirely. One had three one hundred ounce bars and little else. The other dealer just had some bizarre little pieces left- although two people came in clutching odd containers full of stuff. Probably sellers. People in Boise carry silver around in weird ass containers. Those tin candy boxes are popular. Saw a tupperware container full of pieces and some guy came in with a Crown Royal sack with gold and silver in it.
Buying and selling yesterday and today was at frenzied levels, just like the futures market. Only one of the dealers was open on Monday and he said it was ape shit crazy but he said he had more buyers than sellers. You get the feeling that this is the capitulation point. I think the sellers are going to be kicking themselves in the ass as the worldwide effects of unrest and hyperinflation unfold. But that's what makes the market.
Seeing the final numbers tonight already in the futures market. Three days to go and the bankers have to be sweating bullets. Expecting to see the bankers try to drive the market down over night...
Conspiracy Theory? Nahhh...We Love You People, Now Get Your Ass Out There and Make Us Wealthy
Greed, the glue that binds them all. Simply the best read I've had all week. Courtesy of my on line psychiatrist, ZeroHedge. Many thanks.
http://www.zerohedge.com/article/guest-post-fecks-lies-and-video-tape-or-cabal-channel
I couldn't help myself. I just had to snip this piece from the bottom of the article. Absolutely fucking precious.
How aware are you and how many ounces do you possess?
http://www.zerohedge.com/article/guest-post-fecks-lies-and-video-tape-or-cabal-channel
I couldn't help myself. I just had to snip this piece from the bottom of the article. Absolutely fucking precious.
None of this should come as a surprise to any of us. Remember folks, it was none other than former Federal Reserve Vice Chairman Alan Blinder – while appearing on the Nightly Business Report back in 1994 – issued these prescient words,
“the last duty of a central banker is to tell the public the truth”
Knowledge is power.
Physical precious metals are real money.
We Have Seen The Enemy, They Are Who We Thought They Were; Welcome to the Grand National Distraction
On some obscure blog, this may be the most important thing that gets written here. Only a few will see it. Most have gone about the business of forgetting already.
The money supply. Ask 100 people how money is created and maybe one or two people can actually answer that question. On Wall Street those odds would go up. On Main Street in Wichita, Kansas, or Peoria, Illinois, those odds would go down.
You might think the opposite would be true. But it's not. People are simply ignorant when it comes to the money supply and how that effects them. Ignorant on purpose, unwashed, because there is no profit in you understanding the truth. It's just as true here as it is in Cairo, Madison, or Zimbabwe. That's not a fluke. The people who benefit and profit from your lack of knowledge or ignorance have no vested interest in telling you how the money supply works. Because if you knew what they knew- they couldn't keep you enslaved. They couldn't keep profiting from a system that was completely transparent. People simply would not tolerate it.
Like hundreds of millions of Americans, Europeans, and Asians, I had no real sense of what money is or how it was created. I worked and I got paid. That's where it stopped and that's all the thought I gave that process. My own journey into the murky world of the money supply system started as a curiosity. It was a three year journey that culminated in what I would call the crown jewel. A book, "The Creature From Jekyll Island." http://www.amazon.com/Creature-Jekyll-Island-Edward-Griffin/product-reviews/091298645X/ref=sr_cr_hist_all?ie=UTF8&showViewpoints=1
During the past week, you have witnessed the symptoms of what the people who control the money supply have caused. We have been witnessing symptoms in Illinois, in New Jersey, in California, in Madison, Wi. We are witnessing those symptoms in Tunisia, Egypt, Libya, Greece, Portugal, and Ireland. We are witnessing those same symptoms in the United States. All the while corporate and political governance lulls us to sleep with whispered talk of recovery and inflated stock markets. Gone are the tax revenues based on inflated property taxes and income taxes, the bankers have fled the ship.
Riots, food disruptions, oil shortages, and civil unrest are merely symptoms. They are symptoms of a disease. The disease is the money supply and central bankers. They have their boots on our throats. Make no mistake about this. Their fingerprints are at every crime scene. And while they light the fuse and sneak out the back door, they leave us with the carnage. And we become distracted. We argue about public unions. We argue about underfunded pension systems. We fight amongst ourselves. We label the left and the right, we call each other names, as each side struggles to make superficial cuts on a money supply and creation system designed to strip the masses of their wealth and deliver it to bankers.
Imagine being a central banker in a debt driven money creation system like the one we have now. You control the quantity of money, that's how you make more money. You must continually create debt to increase the money supply via fractional banking. So you flood the world with cheap debt. You give everyone with warm blood a mortgage. You let everyone with warm blood take out more loans against some make believe equity. You create more debt and wealth for yourself by reselling those loans worldwide. You finance more debt by insuring all of those bad loans. You finance a war in the middle. Eventually the whole Ponzi scheme collapses. You and your central banker brethren have done this throughout the world. You, the central banker stayed whole, because you got yours first. You lit the fuses in Portugal, Spain, Italy, Greece, Germany, Spain, Ireland, Canada, Japan, Great Britain, the U.S. You will finance the wars to follow because war is debt creation. It is money to you.
How quickly our memories fade. Everyone forgets about you. We are busy putting out fires everywhere. The wealth transfer to the bankers and elite is finished. Nothing has changed. In Ireland one month, in Egypt the next month, in Madison, Wisconsin the month after that. People losing their wealth and benefits. States completely broke. And you snicker at how stupid the people are as they struggle and fight over the lingering symptoms. All because the people don't understand how you flooded our world with easy credit and prompted a systemic collapse. Well, most of them anyway.
An excellent case in point. This article is very well written. However, the writer is completely distracted and calls this a "taxpayer war." It's not. Were we having these discussions prior to the banking collapse? Of course not. Welcome to the national distraction. http://sultanknish.blogspot.com/2011/02/taxpayers-civil-war.html
More symptoms here: http://news.yahoo.com/s/ap/20110222/ap_on_re_us/us_census_dying_counties
Those of us who try to preserve what little wealth we have left- see what's coming. We are the minority. We anticipate that bankers will be planning to eliminate gold and silver. Trying to outlaw the only wealth storage, the only competition, against the worthless fiat they have created. Force us back into a Three Shell Monty debt game that we can't possibly win. Using a bought and paid for Thugocracy that will make it so.
What has changed since 2007, some four years ago? Nothing. The masses still don't know who the bad guys are. They were allowed to escape. The people now turn their attention to public unions, the largesse of the left's welfare, the tax cuts given to the right's elite. People howl on political blogs. Take sides. Scream and fight. They fight over the symptoms while the underlying disease goes unnoticed. The parasitic banker survives because they escape detection. They remain dormant until our next illness- where predictably- they will escape once again as we scurry about trying to fix one symptom while another one pops up.
We have seen the enemy, you are who we thought you were.
The money supply. Ask 100 people how money is created and maybe one or two people can actually answer that question. On Wall Street those odds would go up. On Main Street in Wichita, Kansas, or Peoria, Illinois, those odds would go down.
You might think the opposite would be true. But it's not. People are simply ignorant when it comes to the money supply and how that effects them. Ignorant on purpose, unwashed, because there is no profit in you understanding the truth. It's just as true here as it is in Cairo, Madison, or Zimbabwe. That's not a fluke. The people who benefit and profit from your lack of knowledge or ignorance have no vested interest in telling you how the money supply works. Because if you knew what they knew- they couldn't keep you enslaved. They couldn't keep profiting from a system that was completely transparent. People simply would not tolerate it.
Like hundreds of millions of Americans, Europeans, and Asians, I had no real sense of what money is or how it was created. I worked and I got paid. That's where it stopped and that's all the thought I gave that process. My own journey into the murky world of the money supply system started as a curiosity. It was a three year journey that culminated in what I would call the crown jewel. A book, "The Creature From Jekyll Island." http://www.amazon.com/Creature-Jekyll-Island-Edward-Griffin/product-reviews/091298645X/ref=sr_cr_hist_all?ie=UTF8&showViewpoints=1
During the past week, you have witnessed the symptoms of what the people who control the money supply have caused. We have been witnessing symptoms in Illinois, in New Jersey, in California, in Madison, Wi. We are witnessing those symptoms in Tunisia, Egypt, Libya, Greece, Portugal, and Ireland. We are witnessing those same symptoms in the United States. All the while corporate and political governance lulls us to sleep with whispered talk of recovery and inflated stock markets. Gone are the tax revenues based on inflated property taxes and income taxes, the bankers have fled the ship.
Riots, food disruptions, oil shortages, and civil unrest are merely symptoms. They are symptoms of a disease. The disease is the money supply and central bankers. They have their boots on our throats. Make no mistake about this. Their fingerprints are at every crime scene. And while they light the fuse and sneak out the back door, they leave us with the carnage. And we become distracted. We argue about public unions. We argue about underfunded pension systems. We fight amongst ourselves. We label the left and the right, we call each other names, as each side struggles to make superficial cuts on a money supply and creation system designed to strip the masses of their wealth and deliver it to bankers.
Imagine being a central banker in a debt driven money creation system like the one we have now. You control the quantity of money, that's how you make more money. You must continually create debt to increase the money supply via fractional banking. So you flood the world with cheap debt. You give everyone with warm blood a mortgage. You let everyone with warm blood take out more loans against some make believe equity. You create more debt and wealth for yourself by reselling those loans worldwide. You finance more debt by insuring all of those bad loans. You finance a war in the middle. Eventually the whole Ponzi scheme collapses. You and your central banker brethren have done this throughout the world. You, the central banker stayed whole, because you got yours first. You lit the fuses in Portugal, Spain, Italy, Greece, Germany, Spain, Ireland, Canada, Japan, Great Britain, the U.S. You will finance the wars to follow because war is debt creation. It is money to you.
How quickly our memories fade. Everyone forgets about you. We are busy putting out fires everywhere. The wealth transfer to the bankers and elite is finished. Nothing has changed. In Ireland one month, in Egypt the next month, in Madison, Wisconsin the month after that. People losing their wealth and benefits. States completely broke. And you snicker at how stupid the people are as they struggle and fight over the lingering symptoms. All because the people don't understand how you flooded our world with easy credit and prompted a systemic collapse. Well, most of them anyway.
An excellent case in point. This article is very well written. However, the writer is completely distracted and calls this a "taxpayer war." It's not. Were we having these discussions prior to the banking collapse? Of course not. Welcome to the national distraction. http://sultanknish.blogspot.com/2011/02/taxpayers-civil-war.html
More symptoms here: http://news.yahoo.com/s/ap/20110222/ap_on_re_us/us_census_dying_counties
Those of us who try to preserve what little wealth we have left- see what's coming. We are the minority. We anticipate that bankers will be planning to eliminate gold and silver. Trying to outlaw the only wealth storage, the only competition, against the worthless fiat they have created. Force us back into a Three Shell Monty debt game that we can't possibly win. Using a bought and paid for Thugocracy that will make it so.
What has changed since 2007, some four years ago? Nothing. The masses still don't know who the bad guys are. They were allowed to escape. The people now turn their attention to public unions, the largesse of the left's welfare, the tax cuts given to the right's elite. People howl on political blogs. Take sides. Scream and fight. They fight over the symptoms while the underlying disease goes unnoticed. The parasitic banker survives because they escape detection. They remain dormant until our next illness- where predictably- they will escape once again as we scurry about trying to fix one symptom while another one pops up.
We have seen the enemy, you are who we thought you were.
Monday, February 21, 2011
A Guy That Likes Ron Paul, Thinks Hyper Inflation is a Certainty? Gold at 8000?
Where do they get these whackjobs?
I dunno. But thank gawd they do. Say hello to one of my recent additions to the blog roll. The Hard Right Edge. http://thehardrightedge.com/ After seeing the Turk video, thinking I need more gold. It's up huge in the futures market today and the shit is expensive. Cheaper at 1410 than 8000.
The best thing about the Turk video is that he explains why banks hate gold. (and silver) He also addresses a very serious concern of mine. That our banker controlled government- once it can no longer manipulate the price of gold and silver will simply outlaw it and confiscate it. That's when I give the U.S. a middle finger wave. My passport appointment is Thurs. and get this- the gal calls and asks if I will be traveling soon. I said honey, I don't know. I am not planning on traveling- I am planning on evacuating. Silence. She kept my appointment. Probably- she thinks I killed the neighbor kids.
http://thehardrightedge.com/jamesturkhyperinflation/
I dunno. But thank gawd they do. Say hello to one of my recent additions to the blog roll. The Hard Right Edge. http://thehardrightedge.com/ After seeing the Turk video, thinking I need more gold. It's up huge in the futures market today and the shit is expensive. Cheaper at 1410 than 8000.
The best thing about the Turk video is that he explains why banks hate gold. (and silver) He also addresses a very serious concern of mine. That our banker controlled government- once it can no longer manipulate the price of gold and silver will simply outlaw it and confiscate it. That's when I give the U.S. a middle finger wave. My passport appointment is Thurs. and get this- the gal calls and asks if I will be traveling soon. I said honey, I don't know. I am not planning on traveling- I am planning on evacuating. Silence. She kept my appointment. Probably- she thinks I killed the neighbor kids.
http://thehardrightedge.com/jamesturkhyperinflation/
Obama Camp and Lefties Stirring Shit in Wisconsin? No Not Us!
Meddlers and liars.
President Obama, isn't it about time for another vacation? You've put in a a couple of tough weeks. How about finding a nice warm, sunny beach somewhere and leave the work to the grownups.
When the anarchists have the WH. Busted at the link. http://directorblue.blogspot.com/2011/02/oops-white-house-dnc-disavows.html
President Obama, isn't it about time for another vacation? You've put in a a couple of tough weeks. How about finding a nice warm, sunny beach somewhere and leave the work to the grownups.
When the anarchists have the WH. Busted at the link. http://directorblue.blogspot.com/2011/02/oops-white-house-dnc-disavows.html
This Is Blythe Masters- Wouldn't You Just Love To Be Shacked Up With Her?
Hehe. This is the woman who invented those toxic credit default swaps and some of the other financial tools of destruction that have plunged us into the economic abyss which we are going to revisit again in the coming months. You remember that mess don't you? That thing we are currently pretending does not exist? After that disaster, JP Morgan transferred her to the commodities trading desk where she is now shorting silver that she does not have and may have to deliver soon. http://www.guardian.co.uk/business/2008/sep/20/wallstreet.banking
You kinda get this disturbed feeling, inside, when you read something like this: "I do believe CDSs [credit default swaps] have been miscast, much as poor workmen tend to blame their tools." Other than a broom, I get a feeling this gal hasn't had too much experience with actual tools. Or "workmen." Or "work." Or "men."
Maybe I got her wrong. Maybe she is a sweetheart. Nahhhh....
If you ever needed a reason to dislike someone, or you are recently homeless, or you just hate bankers in general, go out and buy some physical silver this week. Or an option or two. On the long side. Here's a little nudge: http://nymag.com/daily/intel/2010/08/jp_morgans_blythe_masters_will.html
If she offers a bite of some forbidden fruit at a cocktail party sometime, my gut feeling says, "pass."
You kinda get this disturbed feeling, inside, when you read something like this: "I do believe CDSs [credit default swaps] have been miscast, much as poor workmen tend to blame their tools." Other than a broom, I get a feeling this gal hasn't had too much experience with actual tools. Or "workmen." Or "work." Or "men."
Maybe I got her wrong. Maybe she is a sweetheart. Nahhhh....
If you ever needed a reason to dislike someone, or you are recently homeless, or you just hate bankers in general, go out and buy some physical silver this week. Or an option or two. On the long side. Here's a little nudge: http://nymag.com/daily/intel/2010/08/jp_morgans_blythe_masters_will.html
If she offers a bite of some forbidden fruit at a cocktail party sometime, my gut feeling says, "pass."
Sunday, February 20, 2011
Silver Cracks 33 Bucks in Futures Trading
Oh, this is going to be a fun week. Silver supplies are non existent. And the U.S. hedge fund, J.P. Morgan, have 7 years worth of world silver production shorted. I can't wait to see how they are going to deliver the goods- that which they do not have.
Check this out. http://harveyorgan.blogspot.com/2011/02/silver-lease-rates-skyrocketing.html
Someones' gonna get their ass kicked this week. I can hardly wait for Tuesday.
Check this out. http://harveyorgan.blogspot.com/2011/02/silver-lease-rates-skyrocketing.html
Someones' gonna get their ass kicked this week. I can hardly wait for Tuesday.
Get a Load of This Moonbats...
The right to keep and bear arms. The right to protect myself. Maybe, some right wing nut job can even save a few moonbat kids on a college campus near you.
Laws like this get passed needlessly, since we have already been given the right to bear arms. I don't mind seeing states, usually red ones of course, accept the principle that we are not forced to sacrifice our lives on the off chance that we are attending Virginia Tech on a very bad day.
Law or not, I carry guns. The people that I love do too. I don't apologize for that. http://news.yahoo.com/s/ap/20110220/ap_on_re_us/us_guns_on_campus
Laws like this get passed needlessly, since we have already been given the right to bear arms. I don't mind seeing states, usually red ones of course, accept the principle that we are not forced to sacrifice our lives on the off chance that we are attending Virginia Tech on a very bad day.
Law or not, I carry guns. The people that I love do too. I don't apologize for that. http://news.yahoo.com/s/ap/20110220/ap_on_re_us/us_guns_on_campus
Well Maybe Online Gambling is Ok, As Long As We Get Our Cut
In another installment of government extortion, here is a quick summary.
The government went to great lengths to shut down internet gambling. You don't have the right to spend your money the way you want. Government will tell you what to do their money.
Instead of debating the issue, like honest men and women- and fearing all those lost votes of bankrupt wives everywhere, the spineless legislators slid banning internet gambling into a bill that had absolutely nothing to do with that issue. That's why guys like me couldn't understand how that feat was accomplished. I was playing poker on line in 2006, the next thing you know, I had to shut it down. Heaven forbid, federal stormtroopers would come in and seize my computer and of course I would lose my job in some shameful event. (It's apparently ok if Suzie Jackson buys 15 pairs of shoes and a few nighties on line) Initially, I couldn't figure out what had happened because these spineless morons-couldn't do something as simple as draw up a specific bill, title it appropriately- and debate it. That would be transparent. They had to sneak it in another bill that would pass.
Once again, government has ABSOLUTELY no right to legislate social issues and this qualifies. Get out of my private life.
Well now it seems, they have had a change of heart. What changed? Well as long as they get a piece of the action- then all of those morality issues get tossed aside. http://blog.games.yahoo.com/blog/407-will-online-gambling-be-legalized-this-year
The government went to great lengths to shut down internet gambling. You don't have the right to spend your money the way you want. Government will tell you what to do their money.
Instead of debating the issue, like honest men and women- and fearing all those lost votes of bankrupt wives everywhere, the spineless legislators slid banning internet gambling into a bill that had absolutely nothing to do with that issue. That's why guys like me couldn't understand how that feat was accomplished. I was playing poker on line in 2006, the next thing you know, I had to shut it down. Heaven forbid, federal stormtroopers would come in and seize my computer and of course I would lose my job in some shameful event. (It's apparently ok if Suzie Jackson buys 15 pairs of shoes and a few nighties on line) Initially, I couldn't figure out what had happened because these spineless morons-couldn't do something as simple as draw up a specific bill, title it appropriately- and debate it. That would be transparent. They had to sneak it in another bill that would pass.
Once again, government has ABSOLUTELY no right to legislate social issues and this qualifies. Get out of my private life.
Well now it seems, they have had a change of heart. What changed? Well as long as they get a piece of the action- then all of those morality issues get tossed aside. http://blog.games.yahoo.com/blog/407-will-online-gambling-be-legalized-this-year
Wisconsin Legislators Hold Firm After Spineless Dems Flee State, Transparent One Chimes In
Wisconsin legislators are holding firm despite the fact that government employees don't want to pay for their own medical insurance. And they've been skipping out on work to protest. I tell you what kind of maniac I am. You call in sick, and you ain't sick- we're gonna have a little termination hearing about lying. That's what kind of hard ass I am.
http://www.nytimes.com/2011/02/12/us/12unions.html
Courts have ruled that public employees have no right to lie to their employers.
Democratic legislators fled so they wouldn't have to vote on the impending union busting. They actually had to call the state police to bring them back to vote, to do their jobs. I'd fire their asses too. They can. http://www.washingtontimes.com/news/2011/feb/17/wisconsin-democrats-flee-avoid-anti-union-bill-vot/
As they used to say in the Polish neighborhood in Butte, "tough shitski." Here's where I get sympathetic. All of this was brought on by those filthy, greedy, bankers. I simply can't ignore the fact that Wall St. plunged us into this abyss, stole all the money, and guys like Obama looked the other way. That Obama has the nerve to chime in here pisses me off. It must be his teacher roots. You know what I want Obama to do? I want him to STFU. Just run around, blab, take vacations, and leave the work to someone else. As incapable as our legislators are, I am convinced he is even less capable.
Obama doesn't realize by facilitating the escape of bankers, that he became part of the problem. He is so utterly unconscious that he actually thinks now- he is part of the solution. That's rich. http://www.washingtonpost.com/wp-dyn/content/article/2011/02/17/AR2011021705494.html
http://www.nytimes.com/2011/02/12/us/12unions.html
Courts have ruled that public employees have no right to lie to their employers.
Democratic legislators fled so they wouldn't have to vote on the impending union busting. They actually had to call the state police to bring them back to vote, to do their jobs. I'd fire their asses too. They can. http://www.washingtontimes.com/news/2011/feb/17/wisconsin-democrats-flee-avoid-anti-union-bill-vot/
As they used to say in the Polish neighborhood in Butte, "tough shitski." Here's where I get sympathetic. All of this was brought on by those filthy, greedy, bankers. I simply can't ignore the fact that Wall St. plunged us into this abyss, stole all the money, and guys like Obama looked the other way. That Obama has the nerve to chime in here pisses me off. It must be his teacher roots. You know what I want Obama to do? I want him to STFU. Just run around, blab, take vacations, and leave the work to someone else. As incapable as our legislators are, I am convinced he is even less capable.
Obama doesn't realize by facilitating the escape of bankers, that he became part of the problem. He is so utterly unconscious that he actually thinks now- he is part of the solution. That's rich. http://www.washingtonpost.com/wp-dyn/content/article/2011/02/17/AR2011021705494.html
Subscribe to:
Posts (Atom)
-
Earlier this week, graphs started popping up on X and other places. Most of those graphs showed the steep and dramatic increase in popular ...
-
Several years ago, as Ann Coulter (2016) was being laughed at for predicting the Trump presidential win, I was reading a piece about why wo...
-
There is a giant swath of folks in this country who simply cannot believe what is happening. They cannot believe that a "convicted felo...