Woman Executed in Saudi Arabia For Just Trying To Make a Buck, In America She Would Have Been Given a SBA Loan

I am not a proponent of capital punishment. I know...I know...not wanting to kill people is irrational.

In Saudi Arabia, they apparently kill you for practicing sorcery or trying to treat illnesses contrary to accepted practices. http://news.yahoo.com/saudi-arabia-executes-woman-convicted-sorcery-132159048.html

In America, this woman could have applied for and received a small business administration loan for practicing alternative medicine. Had she proven that she voted for Obama, the loan would have been fast tracked and she might even be selling franchises by now. She would be alive and well, touted as a business woman with acumen, creating jobs in America.

Wait for the Precious Metals Selloff and Then Buy Physical Mortimer!

I've been reading Turd Ferguson's, "TF Metals Report" quite a bit lately. He has been "spot" on and he called today's huge sell off. He is on my blog roll on the right margin. And here. http://www.tfmetalsreport.com/blog/3122/stand-back

Gold and silver are getting their asses kicked today. Bad. Gold is off 50 bucks. Here is a very timely piece on why. Strange. http://news.goldseek.com/GATA/1323619500.php

Of all the reasons for today's metals sell off- the one I find most intriguing is that paper speculators are heading for the exits. There is simply no point in trading paper (futures, options) if the underlying commodity has several claims on it. Because of the MF Global bankruptcy, one investor has already filed a lawsuit claiming that he paid for and wanted to take delivery of physical gold and silver. Metals that he paid for before any bankruptcy was declared by MF Global. As the metal was about to be shipped, a trustee halted the shipment. The lawsuit is in the judge's hands- the point of contention being simple. Who has the priority lean on assets? Investors who got ripped off? Other people speculating on the same metal? Or this last guy who paid for the stuff? It's a fore shock of what is to come.

Rehypothecation is a practice that occurs principally in the financial markets, where a bank or other broker-dealer reuses the collateral pledged by its clients as collateral for its own borrowing.

Banks have been notorious throughout time for lending money or assets that they don't have. It's called fractional reserve lending and it's quite legal as long as you have a crooked central bank willing to do it. Like ours. Writing several calls or puts on the same underlying metal and believing that futures will be settled in cash- much as they always have been- is another scheme that bullion bankers use. Very few traders actually take delivery of precious metals. If everyone buying a contract stood for delivery- we'd find out in a hurry just how broken these markets are.

I've been expecting this de- leveraging. People are going to trade out of paper and into actual physical metals. People are also going to take year end profits and precious metals are one of the only places where anyone has made any money. Like Turd, I expect this hemorrhaging to continue until the end of the year and then we'll see how effective the new position limit rules will be. The banks are already suing the CFTC over the new rules.

I am going to add another 150 ounces of silver to my holdings if silver breaks below 29 or 28- and I am going to add a few ounces of gold as well. This may be the last opportunity you will have to add some precious metals on the cheap while people rush for the futures exits and unwind- as the world continues to print worthless and unbacked currency as it's only method of debt repayment.

Why Obama Is Not The Anti Christ, The Archived Madness of the Lunatic Fringe

Friday, May 14, 2010

It's Official, Obama Is Not the Anti Christ

About a year ago, a neo conservative friend of mine called and asked if President Obama could be the anti-Christ. Although Obama clearly has many of the qualities and characteristics that one looks for in a good anti-Christ, I was not sure. After watching Dear Leader this year, I feel confident in saying that Obama is not the anti-Christ.

I know, I know, some of you righties want to cling to hope. Perhaps you are questioning my credentials for determining anti- Christs. But I've watched this dude closely last year, which you can do when you are unemployed. Eternally. Trust me, I am using solid logic.

One other thing. Just because I have determined that Obama isn't the anti-Christ doesn't mean that you non religious types can breathe a sigh of relief. You still have work to do.

The anti-Christ is thought to be a gifted orator. Now at first blush, many of you may think that great oratory qualifies Obama. It doesn't. In fact, what has been spilling out of Obama's mouth lately is precisely what has led me to conclude that he isn't the "big baddy." Nor is he the great genius the lefties think he is. In fact, I'd give this dude a slightly above average score on the big bell curve. Nothing special. Even aided by teleprompters. I could prove my suspicions if we could ever find those missing college transcripts.

The real anti Christ is thought to be cunning and devious, willing and able to persuade everyone. As Obama attacks and blames Bush, attacks and blames Fox news, attacks big banks, attacks auto makers, attacks health insurers, and attacks and blames big oil for a once in a lifetime spill, attacks and blames Arizona for doing the job his government won't, attacks his own constituency and adds glib, snide, and caustic comments- he is guaranteeing and sealing his fate. But not as the historic third anti- Christ. Before it's over, this guy might be able to unite this country but not because he is sneaky smart. We won't unite because of him, we will unite despite him. Obama is not the slick talking orator that will bring about the end times. To do that would take a lot more skill, tact, and savvy than this dude possesses.

There it is. Prima facia evidence Obama isn't the anti-Christ. He ain't even close.

Frankenstein Government Considers Paying Readers, Or Boob-A-Thons, In Desperate Attempt To Acquire More Readers

Ya know I've been banging away at this keyboard for a little over two years. I manage about 2000 page views a week.

I will never advertise.

Then I see these new blogs come on line. Half naked chicks, funny shit, guns, and more half naked chicks. What happens? The new blogs get gobs of followers, page views up the ying yang. What happens to me? Nada. Left at the altar. Same old number of followers, same old amount of page views.

Even when I manage to write clever shit.

I can't do the half naked chick thing. My friend Al says I should. He says the internet was primarily invented by men to exchange porn. For free. All of this other shit is ancillary according to Al. Google earth, maps, buying shit, writing nasty stuff about the government. A waste of time, Al says. Time spent looking at porn is time well spent. You gotta admit, it's hard to argue that.

Al's sister, Jenny, suggested I get girls to lift their shirts and snap photos from the neck down. Post them here. Kind of like a boob-a-thon. I wonder about that family of theirs. I am not sure a boob-a-thon is the way to go.

I am ready for some new kind of recruiting or membership drive. Maybe I will have to start paying people. Perhaps I will hold a weekly raffle. Now there's an idea. If you leave a comment, a nice one, I will put your name in a jar and draw a name. Send prizes.

Or maybe I should just stick with half naked chicks.  

The Collapse Is Herreeee Johnny!*Updated Courtesy of ShakeALeg

This is going to get interesting.

I've been watching and reading about the eurozone collapse for what seems like years. I can sum it up in a sentence or two.

The greatest credit expansion of all time will be followed by the greatest collapse of all time. This will be a world wide event. The only thing keeping this collapse at bay is the life or death struggle of the status quo (bankers, insurers, bond holders, politicians) as they desperately try to find ways of stopping the inevitable. http://www.telegraph.co.uk/finance/financialcrisis/8947470/Eurozone-banking-system-on-the-edge-of-collapse.html

Dave over at the Golden Truth published my all time favorite quote from Austrian economist Von Mises who quite succinctly stated the out come: "There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final or total catastrophe of the currency system involved."

This collapse will be a fucking doozy. 

In the present case- the entire world is at risk. This isn't just some mess confined to Europe. These are world wide bankers, one giant web, interconnected by swaps and shadow lending, leverage on steroids, derivatives, insurance, and counter party risk. When banks and countries start falling like dominoes, everything is going to go to hell. How is a bankrupt and collapsed Europe going to buy US treasury debt? There is nobody left to borrow from.

You can bet your ass that Obama is well aware of the systemic risk to his re-election prospects. Knowing this fiasco is beyond his control and knowing that he sold us out to bankers- gives me special delight. It is justice.

I enjoy watching the worldwide soap opera knowing that there is only one way it can end. Watching these people run around and search for non existent solutions is amazing. On a micro scale- I am out of TBTF banks entirely. I have possession of silver and gold. You should also take a significant amount of money, currency, out of the bank and have it at your disposal. After watching MF Global literally steal at least 1.2 billion of customer/client money and get away with it- I am now starting to worry about counter party risk everywhere.

Quite simply, if you don't have your assets in your possession- they are not your assets.

Check out this link courtesy of shakealeg. Love this dude, don't even mind a rant he goes on about atheism...http://dotsub.com/view/d225dde1-d8eb-4de9-85ff-f41f1dd0ff2f 

Cops Making A Quarter Million To Guard a Bridge?

This is the type of nonsense that happens when you allow public sector employees to unionize. Taxpayer chaos. A quarter million to guard a fucking bridge?

That type of "no brain" job should be contracted to a private security company for 15 bucks an hr. No wonder we are all broke. http://news.yahoo.com/ny-nj-bridge-policeman-earns-221-000-224648676.html

The United States of Corruption, More Banker Lawlessness, MF Global and Jon Corzine's Testiphony*Updated

I have been waiting for this for weeks. Corzine should have been in a jail cell.

Please allow me to get the introductory dry stuff out of the way- so that we can talk about criminal acts and the good shit. This is how the elite and connected are given every opportunity to escape. The MF Global scandal is just one more example of an executive branch that is ethically and morally bankrupt. Obama and this administration. What has happened with MF Global is actually pretty simple once we get the background out of the way. 

MF Global was a derivatives broker/agent which includes options and futures. Customers' kept money on account and traded for their accounts. MF Global traded for it's own accounts. Customer's money and MF Global money should not have been commingled. MF Global was also a primary dealer for government bonds- which has a hell of a lot more to do with the company's CEO and connections than whether or not MF Global was properly capitalized. It's CEO, Jon Corzine, was a bond trader. Ex Goldman Sachs CEO. It of course- gets worse. 

On Oct. 31, MF Global suddenly went bankrupt. Approx. 1.2 billion dollars worth of customers' money immediately went missing. Customer accounts were frozen and they lost the ability to trade out of losing positions. What happened is unprecedented. Quite succinctly, the victims and customers who had nothing to do with MF's bankruptcy, were completely screwed over. To this day, over a month later, investigators have found some money, but not most of it.

Jon Corzine. In addition to his other vast accomplishments, he is a former  Governor of New Jersey and perhaps the number one campaign bundler for President Obama. I mean quite literally, the two are best buddies. Corzine held a NY fundraiser dinner for Obama at his apartment this spring that netted about 600k for Obama.

So there you have it. Two well connected and elite politicians. Both crooked and ethically bankrupt. Both have each others' backs. It is crony capitalism at it's finest. MF Global goes bankrupt, customers lose 1.2 billion, and the CEO, Jon Corzine goes missing for five weeks. He is allowed to escape. Until Dec. 8, the day Corzine testilies testifies. Check out the well rehearsed and evasive testiphony here. http://blogs.wsj.com/deals/2011/12/08/jon-corzines-testimony-by-the-numbers/?mod=

Now I have written many times about the complete absence of the rule of law in this country. President Obama, who took an oath to uphold laws and the constitution as the head of the executive branch, seems nearly as culpable in this as Jon Corzine himself. Presidents have the express power to order investigations- well unless they involve your friends- that is. Which is why criminality, currently, is at epidemic type levels.

Was a crime committed or was this whole thing just some civil matter? Prosecutors often make those decisions. Prosecutors generally determine how to proceed and build a case. In this case, I believe there was clearly fraud and grand theft on a colossal scale. Quite simply, customer accounts and MF's accounts are two different things. Had only MF lost corporate money- this would have been civil. When sequestered customer money came up missing is when this whole thing moves from the civil realm to the criminal realm. That's when it turned into fraud. This is what happens when a crime is committed. Victims notify the appropriate law enforcement agencies as they realize their money is missing. It's law enforcement's job to determine who has jurisdiction. The appropriate agencies determine how to proceed and who to call for help. An investigation is begun.

Has anyone heard the term "criminal investigation" attached to this? Why not?

Good cops know that all crimes and especially the evidence attached to those crimes, is time sensitive. Good cops immediately identify and secure crime scenes so that evidence cannot be tampered with or destroyed. Evidence is seized before it goes missing. Accountants forensically piece together transactions, conduct audits. Cops interview hundreds of employees and potential witnesses. They subpoena and search accounts. And somewhere in the midst of all of that- somebody should have been reading Mr. Corzine a Miranda waiver. What did you do with the money, Mr. Corzine. Where is it?

"I don't know" Corzine might have replied. However, the Sarbanes Oxley act is prima facia evidence that you are not allowed to plead stupidity. Quite simply, as a CEO you are required to sign under penalty of law that your books are in order.

So what happened to the chief suspect? Isn't the goal of the police to interview the most likely suspects? Isn't the goal of the police to interview a suspect like Corzine- lock them into an initial explanation (story, alibi)- and then prove or disprove by means of an investigation?

What cop worth a shit allows the suspect to simply vanish for 5 weeks? To rehearse a beautiful story with some of the finest tacticians and lawyers that money can buy? What kind of a cop does shit like that? Well, soon to be unemployed cops, where I come from. Apparently NYC and DC investigators are not burdened with penny ante cases of a missing thousand million. They have bigger fish to fry. Maybe some kid selling pot near the DEA's office.

Here then is the big finish.

Several different crimes took place at MF Global. The entire episode was treated as some giant civil matter rather than a criminal investigation. I suspect that came about as a result of federal prosecutors or federal police agencies- acting on orders from above. Clearly, I would love to see who made those decisions. It might very well turn out to be the usual folks. The chief architect of this, a guy who bundles contributions and turns them over to the President went into hiding. Most of us would have been interviewed/interrogated for a confession and put in a jail cell. Or at least been the subject of a grand jury by now. But instead, because you are special Jon Corzine, you were allowed to go free and construct an OJ Simpson defense. Still looking for those drug dealers that slashed up Nicole.

In the brave new world, the elite are given every opportunity to steal and if caught- they are given another chance to escape. Jail is never on the menu for these banker thieves- somehow they float above the possibility of jail as though it simply does not exist for them. It pisses me off.

Because somehow they keep getting away with it. It's like a fucking epidemic.

Fraud. Conspiracy to commit fraud. Grand theft, theft by conversion. Embezzlement. Violation of Sarbanes Oxley. I am sure there are others.

*More on this coward here. http://hotair.com/archives/2011/12/09/corzine-i-didnt-tell-my-company-to-use-customer-dollars-and-if-i-did-i-didnt-mean-it/