http://finance.yahoo.com/loans/article/107936/US-mortgage-backer-may-need-bailout?mod=loans-home
Now, FHA is about to auger in. Let's just send them an extra half tril we don't have.
In the upcoming depression, the only thing that will have value is gold and silver and other actual tangible commodities. Real things, like guns.
I have been telling friends for six months now, to put at least 20% of their savings in precious metals. I am not a big advocate of actually taking possession or storing precious metals but that is not unreasonable.
Why?
This is a one way street. It is truly getting close to game over as the bankers steal your tangible possessions with worthless paper.
Imagine a country 60 trillion in debt. You simply cannot earn or spend your way out of that type of fiscal mess with interest. And we aren't even the worst. Japan's debt load is 200% of it's GDP. So when does the dollar or the yen collapse? Apparently not yet. Hell if we use Japan as a measuring stick, we still have all kinds of credit left on our card.
http://seekingalpha.com/article/125072-debt-loads-of-g20-nations-japan-u-s-deep-in-the-hole
It would be like your daughter applying for a platinum visa, getting it, and ringing up a 100,000 dollar debt with 12% interest. She has no job capable of meeting the monthly payments so she simply sends the bill to you.
That metaphor is precisely what the government is doing to you. But unlike your daughter-they will threaten you with prison for not paying their bill.
Sound crazy? It shouldn't. That is precisely what Frankenstein government is all about. As soon as you are born, like it or not, you currently owe the government 39,000 dollars. That's on our current 11 trillion dollar debt. Factor in the 50 trillion dollar obligation of social security and medicare and now you see why something has got to give. We simply can't pay the freight.
Freedom? Not by a long shot. Not until you kill Frankenstein.
Social security and medicare are about to fold up like cheap suits. And runaway inflation? It's a given. In fact, if I were a merchant selling tangible goods, I'd simply refuse to take US currency. That's a fact and in all reality, precisely what is going to happen.
The dollar slide? Not over yet, not by a long shot. Gold now trading at 1050 and about to break higher.
Us old guys? We were the ones watching this shit happen. Young folks? We not only spent your inheritance but we left you in a very deep hole.
The best part about all of this is that we could change it by abolishing the Federal Reserve entirely and getting back on a gold standard. Establish our own currency, use interest payments to fund government debt instead of taxes. In essence, we would be wiping the middle man, bankers, right out of the food chain and eliminating those thieves. Or not. You can always just ignore this, perhaps watch tv, and hope it all goes away.
http://www.usdebtclock.org/
Saturday, October 10, 2009
Wednesday, October 7, 2009
Pirates Shocked by French
I can't stand it. These Somali pirates are great entertainment.
I think they probably attacked this ship knowing full well that it was- a French warship. Perhaps they never knew such a thing actually existed. A ghost ship. They were probably shocked as hell that the French Navy put up any kind of resistance at all. Maybe the worst they expected were some drunken frogs hurling the customary insults or flinging wine bottles at them.
Tough luck.
Tough luck for me. I can't load the link. BBC is carrying the story. Pirates. French Navy. Keywords. Worth a chuckle.
I think they probably attacked this ship knowing full well that it was- a French warship. Perhaps they never knew such a thing actually existed. A ghost ship. They were probably shocked as hell that the French Navy put up any kind of resistance at all. Maybe the worst they expected were some drunken frogs hurling the customary insults or flinging wine bottles at them.
Tough luck.
Tough luck for me. I can't load the link. BBC is carrying the story. Pirates. French Navy. Keywords. Worth a chuckle.
The Great Depression, Part Deux
I've been trading stocks and options most of my adult life. I stopped two years ago and parked all of my money in treasuries. In 2008, I looked like a rock star. This year, not so much.
You ever heard that saying, "the stock market predicts economic activity, six months in advance?" The stock market began this big recovery in March. That was seven months ago. Ok, so where is this big recovery? And how come I ain't feeling it?
Gosh, with overnight lending rates at zero, you'd think business would be expanding at unprecedented levels. Taking out cheap loans. And how come gold is setting all time highs, trading at 1040?
Welcome to the Great Depression, Part Deux. It was 80 years in the making. So what I am going to try to accomplish here is to give you a complete and truthful condensed version of what has happened thus far.
The most glaring difference between 1929 and 2008 is the willingness of government to absolutely lie to you. To soothe you and reassure you, patting you on the back with one hand and removing your wallet with the other hand. The other glaring difference is the Federal Reserve bank's willingness to steal from you as well. Giving away taxpayer money with one hand, and diluting the value of your fiat currency by flooding the marketplace with worthless and non existent currency with the other.
Gold is setting all time highs. You are witnessing the death of the dollar as the world's currency of reserve and investment of last resort. It is fini, les feat compleat. Somewhere in the distance, I hear the fat lady singing.
The best (with some exception for editorial spin) and technically accurate and condensed version of the events leading up to this calculated heist are summed up in an online article by the Canadian Free Press, "Behind the Wizard's Curtain."
http://www.canadafreepress.com/index.php/article/9454
In order to understand what has happened, you really have to school yourself first.
Having done that, you must understand that the Federal Reserve Bank of The United States is your greatest enemy. They are private, they operate above the law, and they are unaudited. You must also understand that the First Great Depression was prolonged because of the gold standard. We simply could not print money that was not backed by gold in 1929. This constraint led to deflation from 1929-1933.
Deflation was the real enemy of bankers and debt holders. Too few dollars chasing enormous levels of debt. Prices for everything, from food to land, had to decrease dramatically to levels where demand and real dollar supply could meet.
Your current Fed Chair, Ben Bernanke, knows this. He said so in a speech in 2002.
Remarks by Governor Ben S. Bernanke
Before the National Economists Club, Washington, D.C.
November 21, 2002 Deflation: Making Sure It Doesn't happen Here
So in order to manipulate their exterior world into something more palatable and politically expedient, the bankers and the politicians, got off the gold standard in 1933 and used printing presses to print a bunch of worthless currency and get us out of that depression.
They are trying the same tactic in 2009. So why won't it work?
Because the dollar has already been devalued and rendered valueless. In 1933, a dollar was still fairly valued at 95 cents or so. By 2008, a dollar was worth about 4 cents. The effects of 75 years worth of manipulation by the Federal Reserve's fractional banking system, dilution of the money supply by adding mountains of unbacked fiat currency and debt, has rendered the U.S. dollar worthless already. Printing more of them will only add to it's steepening and hasty decline and eventual death.
Picture a beautiful new born baby in 1933. Picture that same human being 76 years later. His name is dollar. His lifespan is about over.
That is why the gold bugs are stilling buying gold. It's why China has been buying gold. It is why the Federal Reserve has been secretly trying to manipulate and suppress the value of gold through swaps. Remember, the Fed is unaudited. Gold has value. It is the Federal Reserve's enemy.
You ever heard that saying, "the stock market predicts economic activity, six months in advance?" The stock market began this big recovery in March. That was seven months ago. Ok, so where is this big recovery? And how come I ain't feeling it?
Gosh, with overnight lending rates at zero, you'd think business would be expanding at unprecedented levels. Taking out cheap loans. And how come gold is setting all time highs, trading at 1040?
Welcome to the Great Depression, Part Deux. It was 80 years in the making. So what I am going to try to accomplish here is to give you a complete and truthful condensed version of what has happened thus far.
The most glaring difference between 1929 and 2008 is the willingness of government to absolutely lie to you. To soothe you and reassure you, patting you on the back with one hand and removing your wallet with the other hand. The other glaring difference is the Federal Reserve bank's willingness to steal from you as well. Giving away taxpayer money with one hand, and diluting the value of your fiat currency by flooding the marketplace with worthless and non existent currency with the other.
Gold is setting all time highs. You are witnessing the death of the dollar as the world's currency of reserve and investment of last resort. It is fini, les feat compleat. Somewhere in the distance, I hear the fat lady singing.
The best (with some exception for editorial spin) and technically accurate and condensed version of the events leading up to this calculated heist are summed up in an online article by the Canadian Free Press, "Behind the Wizard's Curtain."
http://www.canadafreepress.com/index.php/article/9454
In order to understand what has happened, you really have to school yourself first.
Having done that, you must understand that the Federal Reserve Bank of The United States is your greatest enemy. They are private, they operate above the law, and they are unaudited. You must also understand that the First Great Depression was prolonged because of the gold standard. We simply could not print money that was not backed by gold in 1929. This constraint led to deflation from 1929-1933.
Deflation was the real enemy of bankers and debt holders. Too few dollars chasing enormous levels of debt. Prices for everything, from food to land, had to decrease dramatically to levels where demand and real dollar supply could meet.
Your current Fed Chair, Ben Bernanke, knows this. He said so in a speech in 2002.
Remarks by Governor Ben S. Bernanke
Before the National Economists Club, Washington, D.C.
November 21, 2002 Deflation: Making Sure It Doesn't happen Here
So in order to manipulate their exterior world into something more palatable and politically expedient, the bankers and the politicians, got off the gold standard in 1933 and used printing presses to print a bunch of worthless currency and get us out of that depression.
They are trying the same tactic in 2009. So why won't it work?
Because the dollar has already been devalued and rendered valueless. In 1933, a dollar was still fairly valued at 95 cents or so. By 2008, a dollar was worth about 4 cents. The effects of 75 years worth of manipulation by the Federal Reserve's fractional banking system, dilution of the money supply by adding mountains of unbacked fiat currency and debt, has rendered the U.S. dollar worthless already. Printing more of them will only add to it's steepening and hasty decline and eventual death.
Picture a beautiful new born baby in 1933. Picture that same human being 76 years later. His name is dollar. His lifespan is about over.
That is why the gold bugs are stilling buying gold. It's why China has been buying gold. It is why the Federal Reserve has been secretly trying to manipulate and suppress the value of gold through swaps. Remember, the Fed is unaudited. Gold has value. It is the Federal Reserve's enemy.
Federal Reserve Admits Hiding Gold Swap Arrangements, GATA Says
- Press Release
- Source: Gold Anti-Trust Action Committee Inc.
- On 9:30 am EDT, Wednesday September 23, 2009
MANCHESTER, Conn.--(BUSINESS WIRE)--The Federal Reserve System has disclosed to the Gold Anti-Trust Action Committee Inc. that it has gold swap arrangements with foreign banks that it does not want the public to know about.
The disclosure, GATA says, contradicts denials provided by the Fed to GATA in 2001 and suggests that the Fed is indeed very much involved in the surreptitious international central bank manipulation of the gold price particularly and the currency markets generally.
So if you've managed to get this far, read the links, and are wondering just WTF is next, I've got good news. Grab a cup of coffee, or a beer, or a valium, and we'll wrap this whole thing up in The Great Depression, Part Deux Deux.Tuesday, October 6, 2009
The Patients are Running the Asylum
I follow a few blogs. Most of them are listed on the blog roll.
I don't have a bazillion folks following what I write. Not yet, anyway. You see, a lot of people don't understand how important blogging is.
Blogging is the 2009 version of Paul Revere. It is Upton Sinclair. It is 60 Minutes. It is free speech in the purest sense. Free speech is unity. There is freedom in unity.
Bloggers can "monetize" their blogs- which is to say, you invite advertisers into your margins and text. Some bloggers agree to this, thinking that what they have to say is so uniquely attractive and mesmerizing that it is worthy of some justifiable revenue. Perhaps. But once they do that, it is no longer free speech. What they write is paid for speech. I will never monetize a blog of mine. Because the minute you do that, you become a slave to the whims of your advertisers. Telling you what to write, how to write. Viagra ad in my margin. No profanity. Not me.
Fuck 'em.
I am trying to picture Paul Revere with a Nike swoosh on his colonial hat. Or Tom Jefferson wearing a Harley Davidson sweatshirt.
I just ain't seeing it.
Our means of communication has never been greater. Instantaneously. Worldwide with one keystroke. It will be a sorry ass day indeed if we allow anyone to render this technology useless. And as the issues of our day get worse, or as our Frankenstein government takes more and more from us, perhaps we will say "enough."
Enough will be spoken here. It will not be spoken by the Mainstream Media who are slaves to their corporate masters. Enough will not be spoken by politicians who lie and pillage. Enough will not be spoken on TV where corporate governance regulates what will be said and what will not be said.
Enough will be spoken by writers. It will be spoken on You Tube. On cellphones. One day, the insanity bloggers write about will become common knowledge. It will become accepted fact. There will be no need for credibility or a Harvard Business Degree so that a guy like me can tell you how money is created out of thin air by a privately owned bank that we can't even audit.
One day, these facts will become known. And when that day arrives for you, it might come courtesy of a modern day Paul Revere hammering away on his laptop. Warning you about this Frankenstein monster with a screw sticking out of his head coming your way. That will be the day when the crazies appear sane, and the sane appear crazy. That's how it is for us.
Welcome you Candid Conservatives.
I don't have a bazillion folks following what I write. Not yet, anyway. You see, a lot of people don't understand how important blogging is.
Blogging is the 2009 version of Paul Revere. It is Upton Sinclair. It is 60 Minutes. It is free speech in the purest sense. Free speech is unity. There is freedom in unity.
Bloggers can "monetize" their blogs- which is to say, you invite advertisers into your margins and text. Some bloggers agree to this, thinking that what they have to say is so uniquely attractive and mesmerizing that it is worthy of some justifiable revenue. Perhaps. But once they do that, it is no longer free speech. What they write is paid for speech. I will never monetize a blog of mine. Because the minute you do that, you become a slave to the whims of your advertisers. Telling you what to write, how to write. Viagra ad in my margin. No profanity. Not me.
Fuck 'em.
I am trying to picture Paul Revere with a Nike swoosh on his colonial hat. Or Tom Jefferson wearing a Harley Davidson sweatshirt.
I just ain't seeing it.
Our means of communication has never been greater. Instantaneously. Worldwide with one keystroke. It will be a sorry ass day indeed if we allow anyone to render this technology useless. And as the issues of our day get worse, or as our Frankenstein government takes more and more from us, perhaps we will say "enough."
Enough will be spoken here. It will not be spoken by the Mainstream Media who are slaves to their corporate masters. Enough will not be spoken by politicians who lie and pillage. Enough will not be spoken on TV where corporate governance regulates what will be said and what will not be said.
Enough will be spoken by writers. It will be spoken on You Tube. On cellphones. One day, the insanity bloggers write about will become common knowledge. It will become accepted fact. There will be no need for credibility or a Harvard Business Degree so that a guy like me can tell you how money is created out of thin air by a privately owned bank that we can't even audit.
One day, these facts will become known. And when that day arrives for you, it might come courtesy of a modern day Paul Revere hammering away on his laptop. Warning you about this Frankenstein monster with a screw sticking out of his head coming your way. That will be the day when the crazies appear sane, and the sane appear crazy. That's how it is for us.
Welcome you Candid Conservatives.
Sunday, October 4, 2009
Creating the Perfect Communist State
I read an article this weekend that says Hawaii's new state tax tops out at 11%. That is breathtaking all by itself. To qualify for that bracket you must make 400,000 dollars or more. Couple that with a 35% Federal rate and you get a breathtaking 46% tax loss.
Throw in another 10% in social security and medicare/medicaid taxes and you are staring at 56%.
Wow. More than 1/2 of your income taken away. We're not even talking about all of the other taxes, property, gas taxes, or Hawaii's tax on businesses. It's hard to quantify capital gains taxes, short term gains, inheritance taxes, things like that. So let's take a look at some things I can quantify.
I use 2000 gallons of gasoline per year. That costs me 900 bucks in state and federal gas taxes. At 5000.00 a year in groceries, I pay 300 bucks in sales tax. I pay another 600 bucks a year for smokeless tobacco. Idaho has a 40% ad valorem tax on the wholesale price plus the standard 6% sales tax.
So that is a nifty little 1800 tax loss. That is about one months salary, net after taxes. Now that's a drop in the bucket compared to our big wage earner, but unfortunately for the vast majority of Americans, 1800 bucks is 5 or 6% of our income.
Now if you are losing 60% of your income on taxes like our 400,000 wage earner, I have two simple questions.
If you are giving 3/5ths of your income to the government, are you not in fact a defacto "government employee?"
And my next question is, "why the hell are you doing it?"
The answer is simple. You still have 160,000 to play with when you get done ponying up. I on the other hand, only have about 24,000 dollars left. (my rate at 40%)
That is precisely why middle income Americans are mad as hell at our net 40% rates and why 400,000 dollar wage earners aren't as much- they have wiggle room. I have to figure out how to pay for a house, health care, a car, and all that wasteful insurance on 24 grand. Some dude making 400,000 can certainly slide by on his net 160,000 without too much bellyaching. But it gets gooder.
We got a 65 trillion dollar debt coming due and you can't divide that note + interest with all of the 38,000 dollar wage earners in...North America. And don't forget to figure in the annual costs of running government in addition to that debt. Let's see, that figure looks like this. 65,000,000,000,000.00. So bear down big wage earner.
Government is coming to steal your wiggle room. The big Marxist is after your money. They absolutely have to, you understand. And when they steal enough of your scrill, you'll join us anti-government conservatives. Because if they steal enough of your dough, maybe 70 or 75% altogether, your bellyache will begin and we'll greet you with open arms. And maybe you'll finally figure out that you do in fact, work for the government. We all do. Eventually our government, perhaps ye by your fearful silence, will help create the perfect communist state. Private employees making 38k and paying the six figure salaries for rich government workers to perform this admirable job they perform- only because they got the power to steal your dough from you and you ain't got the power or the balls to steal it back.
Throw in another 10% in social security and medicare/medicaid taxes and you are staring at 56%.
Wow. More than 1/2 of your income taken away. We're not even talking about all of the other taxes, property, gas taxes, or Hawaii's tax on businesses. It's hard to quantify capital gains taxes, short term gains, inheritance taxes, things like that. So let's take a look at some things I can quantify.
I use 2000 gallons of gasoline per year. That costs me 900 bucks in state and federal gas taxes. At 5000.00 a year in groceries, I pay 300 bucks in sales tax. I pay another 600 bucks a year for smokeless tobacco. Idaho has a 40% ad valorem tax on the wholesale price plus the standard 6% sales tax.
So that is a nifty little 1800 tax loss. That is about one months salary, net after taxes. Now that's a drop in the bucket compared to our big wage earner, but unfortunately for the vast majority of Americans, 1800 bucks is 5 or 6% of our income.
Now if you are losing 60% of your income on taxes like our 400,000 wage earner, I have two simple questions.
If you are giving 3/5ths of your income to the government, are you not in fact a defacto "government employee?"
And my next question is, "why the hell are you doing it?"
The answer is simple. You still have 160,000 to play with when you get done ponying up. I on the other hand, only have about 24,000 dollars left. (my rate at 40%)
That is precisely why middle income Americans are mad as hell at our net 40% rates and why 400,000 dollar wage earners aren't as much- they have wiggle room. I have to figure out how to pay for a house, health care, a car, and all that wasteful insurance on 24 grand. Some dude making 400,000 can certainly slide by on his net 160,000 without too much bellyaching. But it gets gooder.
We got a 65 trillion dollar debt coming due and you can't divide that note + interest with all of the 38,000 dollar wage earners in...North America. And don't forget to figure in the annual costs of running government in addition to that debt. Let's see, that figure looks like this. 65,000,000,000,000.00. So bear down big wage earner.
Government is coming to steal your wiggle room. The big Marxist is after your money. They absolutely have to, you understand. And when they steal enough of your scrill, you'll join us anti-government conservatives. Because if they steal enough of your dough, maybe 70 or 75% altogether, your bellyache will begin and we'll greet you with open arms. And maybe you'll finally figure out that you do in fact, work for the government. We all do. Eventually our government, perhaps ye by your fearful silence, will help create the perfect communist state. Private employees making 38k and paying the six figure salaries for rich government workers to perform this admirable job they perform- only because they got the power to steal your dough from you and you ain't got the power or the balls to steal it back.
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