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Friday, May 13, 2011

The New Age Humpty Dumpty- Citibank

There are a lot of people who think that the entire TARP bailout program targeted Citibank. Personally, I think that's bullshit. I believe TARP was created by Hammering Hank Paulson to funnel money to the mega insurer, AIG. AIG owed billions to Hank's former empire, Goldman Sachs. I imagine a few people like Lord Blankfein were just a little pissed and nervous back in '08.

You see, the FED made 9 trillion in loans in late 2008. They really didn't need TARP to bailout their network. They could have just added 700 billion to the 9 trillion they had already loaned.  However, they are not authorized to loan to private insurers...especially private insurers that are going to owe billions of dollars to the banker network. The only way to get banks their money back from an insolvent AIG, was to bail out AIG. Thus the great TARP program was unveiled. They simply converted public dollars to private use. In fact, such acts are generally recognized as criminal behavior in many places. I know a county clerk who converted 50k of tax money for a nice boat once upon a time.

Citibank was just fucking camouflage.

Earlier this week, Citibank did a reverse 1 for 10 share stock split on their 4 dollar stock. After they did this, today, they announced a 1 cent per share dividend on their stock which is now trading around 40. The FED, TARP, the shadiest accounting tactics ever devised by man, and all the king's men, just can't put Humpty Dumpty back together again.

Blogger Back From the Dead

Not quite sure what happened. Blogger went down sometime yesterday, now it is finally up.

These sorts of things remind me just how fragile our systems really are. I couldn't use my dashboard to read blogs now getting caught up.

Thursday, May 12, 2011

The United States Postal Service, I Hear the Fat Lady Singing

Like all things the government runs, the postal service is a money losing venture. Another black hole.

A private corporation with real stockholders and people losing money would immediately shutter such a business. This would move all mail services to some form of electronic delivery. Rather than do anything as drastic as getting rid of an army of now worthless government workers, this government run service will survive for decades and bleed us for the absolute maximum amount of money that it can.

It has reached it's 15 billion dollar debt ceiling- but nobody has the balls in government to simply just let it fail and go away.  Lingering, socialized, death.

Somewhere, I hear a fat lady singing. Problem is, this tune lasts a very long time...

Wednesday, May 11, 2011

We Spent All of Our Money On I-Tunes and Shit, We Don't Have Money for Gas

Bring on the food gas stamps.

Crude inventories surged 150% to 3900k barrels on expectations of 1500k. Wow. I guess people don't like 4 dollar gas. The CFTC raised margin requirements on speculators after 17 Congressmen whined about high gas and oil prices. They said they can't understand these outrageous prices when demand has all but fallen away. No shit.

Interesting that nobody ever mentions that oil is priced in worthless dollars. That might have something to do with it- Washington brainiacs. Hmm...let's see... oh the dollar is up...crude is down...

Just had to include this snip from wiki for all of the Canes-Ee-yuns out there. (Keynes) The Moonbats think this shit is gospel. Keynesian economic theory proposes that changes in money supply do not directly affect prices, and that visible inflation is the result of pressures in the economy expressing themselves in prices.

If that were true, we might never have heard of currency exchanges, Weimar, or Zimbabwe. Or precious metals. Keep printing away Moonbats...Keynes just has to be right...doesn't he? 

The Thugocracy Finally Nails Someone

This might be racist. Government nabs an Indian hedge fund guy and actually prosecutes him. They let that orange and white guy, Angelo Mozilo, off with some fines. Both men were accused of insider trading. But no prison for Angelo. My only conclusion? This is what happens Raj when you don't give huge campaign contributions to politicians or sweetheart mortgages. Dumb ass.

Dude, did you miss that how to avoid criminal prosecution day in Harvard business school? Life just isn't fair.

This Is How Moonbats Think

Desperately clinging to the failed policies that have helped bankrupt our country, the Moonbats are still bitter at the union losses they suffered in Wisconsin. I am not talking about organized labor.

I am talking about public unions. A "night and day" distinction.

Here is a great link that shows how Moonbats think. This is how Moonbats attack their perceived "enemies" like David Koch. They want to know how many homes he has- like that is relevant to the discussion or provides a solution. In fact, I lost what the subject was and I was forced to go back and read it again. What was your point? Do you hate people with several homes? Or do you just hate successful libertarians with M.I.T. degrees? Answer- all of the above.

Tuesday, May 10, 2011

It's Ok To Hate Politics But It's Not Ok To Ignore Politics

Our country needs you. We always have. People are starting to wake up and realize that our two party system is irretrievably broken.

Imagine getting an odd mole on your back that changes shapes and colors. Perhaps it even bleeds. But you fear hospitals and the possibility of cancer. So rather than get that mole checked out, you ignore it until one day- you get so sick that you are admitted to the hospital. Your doctor tells you that you have inoperable cancer that has spread throughout your body. Your condition was treatable early but now it is terminal.

Politicians and our national debt, coupled with a Federal Reserve Bank that knows no bounds or limitations, have become our national cancer.

I don't mind people that don't like politics. Especially partisan politics. I'm one of them. But what I really can't stomach are those cowards that not only hate politics but also refuse to become informed or involved in any political process. They proudly tell people that they don't care about politics as though their political ignorance is a virtue.

I'm not talking about voting. In fact- voting for bad people is far worse than not voting at all. I would much rather see an uninformed voter not vote at all rather than cast ballots for idiots. So if you think you are fulfilling some sort of civic or patriotic duty simply by voting for people you know nothing about- I'd rather see you stay at home and save the gas. Do us all a favor.

My ex wife was that way. At least she did no harm.

One last thing. We are free men- just barely. We are free because people gave their lives. I can't help but feel a twinge of anger anytime I hear some coward absolve themselves from the political process. Apathetic people, those people who dislike politics and hand off their responsibilities, are the reason we have a bunch of idiots running our government. If you know one of those candy asses, one of those self absorbed people who just can't be bothered by politics, please send them this link.

I don't like politics either. But our situation is dire and it's simply not acceptable behavior to ignore politics any longer. It is too important and this is serious. If we don't find a solution and soon, we won't have a free country- we will be indentured servants working to do nothing other than service a mountain of debt and transfer our wealth to foreign lands and bankers.

Here's a great link and a guy that I agree with. He is smoking a cigarette and it makes me wonder just where the hell he is presenting that still allows smoking indoors...from Plan B Economics...

Monday, May 9, 2011

So Frankie, What's With Silver and Gold?

I love it when my friends give me shit after the silver and gold slaughter of last week. People have a real sadistic side to them...

Know this trolls and jackals. I bought more. That's how scared I am.

I am really starting to love China. They are starting their own precious metals exchange to compete with the Crimex. So not only does China have an independent and non biased credit rater, Dagong, but now they will have a precious metals exchange that at least initially- will not manipulate free markets by hiking margin 5 times in eight days. Competition.

Today's huge rally in precious metals was just a dead cat bounce (over sold) and some short covering. I am not too excited about it. I think we will find a floor in silver from 35-40. Silver and gold can safely be bought at current levels without too much downside risk. Fundamentally, nothing has changed. The debt picture just gets worse and worse because absolutely nobody is paying principal. Not here, not in Europe. Pomo winds down in 6 weeks and then we get to see just who is going to step up and buy all those treasuries. In the meantime...

They will raise that bullshit debt ceiling a couple tril. More debt and more interest that does not exist. Good times.

What's a Couple Thousand Billion?

As it turns out, just enough money to get the country past the next election. A pretty clear signal that nobody has any intention of paying it anyway.

Wouldn't you just love a credit card where every time you used 100k on it, the bank just extended you another 200k? You never have to pay the principal. Eternal Christmas. Irving Berlin in my head. 

Remember. All debt is either re-paid by the borrower or paid by the lender.

Having Found the Missing 6'5" Saudi, Obama Now Trying to Find Missing 2.3 Trillion

Maybe. More stuff from the nutters. The vid courtesy of Plan B Economics.

Say a Prayer for the Nutters* Updated to Include Iranian Nutters

After President Obama proclaimed that he was lord of the universe- and decided not to "spike the football" by providing proof of Bin Laden's death- I have seen a tremendous rise in internet nutters. So I thought I'd dissect this phenomenon from start to finish.

I don't mind nutters. In fact I understand them. Nutters are the by product of a government gone wild.

So after nearly ten years, our trillion dollar war effort finally found a 6'5" Saudi with 3 wives and executed him. Rather than show pictures of a dead Bin Laden, we call that proof, the censor in Chief decided not to. Government then told us that we dumped his body into the sea.

Then came the nutters. Nutters don't believe anything that the government tells them. They've been lied to for so long that they have given up on any kind of hope of government truth telling. The nutters think Bin Laden was killed years ago. The nutters think Bin Laden's body is in some secret lab somewhere. I've been reading all of the theories on the intarwebs this week. Nutters are the polar opposite of Moonbats and sheep- Moonbats and sheep either believe or ignore everything that the government tells them. Moonbats and sheep make fun of nutters.

Moonbats and sheep are just idiots. There is not much you can do with them. Nutters on the other hand, have intellectually evolved to the point that they cannot trust any thing that the government does. Unlike Monnbats or sheep, they do not ignore facts. In fact- nutters actually pay attention to government. Sometimes nutters even mention some of their opinions- publicly- only to be criticized and labeled by the Moonbats and sheep who largely ignore anything factual or absent any credible facts of their own, simply launch a counter attack. Government always backs the play of Moonbats and sheep. They have a host-parasite relationship.

Fellow nutters. The military found and killed Bin Laden. Please accept that. I understand your concerns- I find myself occasionally listening to President Obama's bullshit myself- particularly when it interrupts my regularly scheduled programming. During Obama's announcement, he used the word "I" so much that I expected him to reach under the podium and raise the bloody and severed head of Osama and tell us that he capped OBL- himself.  Government has spent decades deceiving and lying to us- so I understand where you nutters are coming from and I sympathize. But every once in awhile, government lets something truthful slip out. It doesn't happen often- but it does happen.

Just to let you know that the U.S. has not cornered the market on nutters, there's this: