Of course they are. The whole system is rotten to the core. Fortunately, the government is sponsoring a nice golf vacation for President Screw Off and his family.
President Screw Off now blaming Congress for his woes.
At least Moody's hasn't downgraded our junk treasuries yet. If they did that, like Standard and Poor's did, the government would launch a retaliatory probe into their ratings- pre crash era.
This country is so corrupt that it is hard to envision the person who can un-corrupt it and install some sense of a rule of law again. What a monumental task that would be. The Moody's story: http://www.businessinsider.com/moodys-analyst-conflicts-corruption-and-greed-2011-8?op=1#ixzz1VV8RAr3C
*Those chicken shits at Moody's saw fit to downgrade Japanese debt on Monday. How courageous. Of course Moody's still has USA debt rated "AAA" lest Obama's minions launch some counter attack and probe into the rating system Moody's was employing prior to 2008.
Saturday, August 20, 2011
Ruger Making New Commemorative Pistol
It's called the Congressman. It doesn't work and you can't fire it.
Friday, August 19, 2011
You May Now Consider Selling Your Teeth
I never thought I'd see gold put in a move that would have it double in one year. We may see it this year. It traded just beneath 1900 last night in the access markets. http://www.allamericanindex.com/commodityfutures/Metals
At two grand an oz. you may want to start thinking about selling your teeth. Get porcelain crowns instead or just continue to wait. I have great news.
Gold will not stop it's meteoric rise until the world figures out a solution other than to print worthless paper and call it money. If they can't rein in the fiat bubble, there won't be any popping the gold "bubble."
At two grand an oz. you may want to start thinking about selling your teeth. Get porcelain crowns instead or just continue to wait. I have great news.
Gold will not stop it's meteoric rise until the world figures out a solution other than to print worthless paper and call it money. If they can't rein in the fiat bubble, there won't be any popping the gold "bubble."
A Small Town "Bank Of America" War Story
In small towns, the cops know who the players are. It's not like the big city- we know how to find you and fast.
Many years ago, we had what had been- a very responsible social and civic leader completely leave the rails. He may have always been an alcoholic but when he found cocaine- he found addiction. He began stealing money, significant amounts, anywhere he could get it. Mostly from friends and family. A few of them reported the lies and swindles he concocted but virtually all of them did not want to prosecute him- or testify against him. That's how it is in a small town. It is intimate. So all of the victims in this case just wanted us- the police- to find enough evidence on our own and lock him up without getting them involved. I understood that. They called it, "doing our job."
It took a week or two before he forged one of those VISA checks that credit card companies used to send to prospective new credit card accounts. Remember those? He had found one in the trash at the post office. He had actually forged it at the bank- right in front of the teller. He was even on video. The teller had handed him 3000 dollars in cash. It looked like a slam dunk. Finally, we could lock this guy up and end this runaway train wreck.
The bank he had done this in? Bank of America. When I asked the manager for a statement from the teller she refused. When I asked the manager for the video tape she refused. She said she would call their legal department. She threw up every roadblock she could. She never cooperated, apologized, or offered an explanation. I very nearly threw her in jail for obstructing.
And you know what? That would have been the right thing to do, but I'll be damned if the Chief's wife didn't work in that bank. The Chief wouldn't let me drag her ass to jail- which she so richly deserved. He wouldn't even let me get a search warrant and go over her head. The avenue was closed. So it was that we had to let this domestic terrorist victimize a few more people before we could bring charges and finally lock this guy up.
Every time I see a Bank of America branch I think about those assholes. Funny how that is. I am watching that whole crooked mess slide into oblivion, B of A, Countrywide and that thief Mozilo, a penny stock with no assets, selling assets- laying off 3500 people. When Bank of America dies, and they velcro a new name over their doors, I am gonna smile just a bit.
I have a special place in my heart for BAC. http://money.cnn.com/2011/08/19/news/companies/bofa_jobs/index.htm?iid=H_BN_News
Rick Perry...already bought and paid for just like Obama. http://www.zerohedge.com/news/bank-americas-dead-drop-rick-perry-we-will-help-you-out
Many years ago, we had what had been- a very responsible social and civic leader completely leave the rails. He may have always been an alcoholic but when he found cocaine- he found addiction. He began stealing money, significant amounts, anywhere he could get it. Mostly from friends and family. A few of them reported the lies and swindles he concocted but virtually all of them did not want to prosecute him- or testify against him. That's how it is in a small town. It is intimate. So all of the victims in this case just wanted us- the police- to find enough evidence on our own and lock him up without getting them involved. I understood that. They called it, "doing our job."
It took a week or two before he forged one of those VISA checks that credit card companies used to send to prospective new credit card accounts. Remember those? He had found one in the trash at the post office. He had actually forged it at the bank- right in front of the teller. He was even on video. The teller had handed him 3000 dollars in cash. It looked like a slam dunk. Finally, we could lock this guy up and end this runaway train wreck.
The bank he had done this in? Bank of America. When I asked the manager for a statement from the teller she refused. When I asked the manager for the video tape she refused. She said she would call their legal department. She threw up every roadblock she could. She never cooperated, apologized, or offered an explanation. I very nearly threw her in jail for obstructing.
And you know what? That would have been the right thing to do, but I'll be damned if the Chief's wife didn't work in that bank. The Chief wouldn't let me drag her ass to jail- which she so richly deserved. He wouldn't even let me get a search warrant and go over her head. The avenue was closed. So it was that we had to let this domestic terrorist victimize a few more people before we could bring charges and finally lock this guy up.
Every time I see a Bank of America branch I think about those assholes. Funny how that is. I am watching that whole crooked mess slide into oblivion, B of A, Countrywide and that thief Mozilo, a penny stock with no assets, selling assets- laying off 3500 people. When Bank of America dies, and they velcro a new name over their doors, I am gonna smile just a bit.
I have a special place in my heart for BAC. http://money.cnn.com/2011/08/19/news/companies/bofa_jobs/index.htm?iid=H_BN_News
Rick Perry...already bought and paid for just like Obama. http://www.zerohedge.com/news/bank-americas-dead-drop-rick-perry-we-will-help-you-out
Thursday, August 18, 2011
The System, Sadly, Is Irretrievably Broken- Is the SEC Covering Up Wall St. Crimes?
Matt Taibbi thinks so. William K. Black thinks so. So does every American with half a brain.
I truly believe that our criminal justice system is so compromised and broken, that economically we are circling the drain. Taibbi's piece: http://www.rollingstone.com/politics/news/is-the-sec-covering-up-wall-street-crimes-20110817?link=mostpopular3
A good piece (abstract/summary) from Black: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1590447
The head of all law enforcement at the Federal level is the executive branch. The duty to enforce the law falls on the President. The Commander in Chief. What happens when he is clearly in bed with the criminals?
You tell me. It's all a little unprecedented at this point.
I truly believe that our criminal justice system is so compromised and broken, that economically we are circling the drain. Taibbi's piece: http://www.rollingstone.com/politics/news/is-the-sec-covering-up-wall-street-crimes-20110817?link=mostpopular3
A good piece (abstract/summary) from Black: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1590447
The head of all law enforcement at the Federal level is the executive branch. The duty to enforce the law falls on the President. The Commander in Chief. What happens when he is clearly in bed with the criminals?
You tell me. It's all a little unprecedented at this point.
Venezuela Says, "We Want Our 99 Tons of Gold Back" Gold Banks/Vaults Now Shitting Their Pants
Bankers are truly parasites. Gold now at 1821.0...
Yesterday that not-so crazy-all-of-the-time Hugo Chavez and Venezuela said they were "nationalizing" their gold industry. This is code for we want our gold back, chop chop. http://www.mineweb.com/mineweb/view/mineweb/en/page504?oid=133721&sn=Detail&pid=102055
Many people don't understand that gold bankers leverage gold much like they leverage dollars. However, gold- unlike dollars- can't be counterfeited. There is no FED bailout plan for banks that are extremely over leveraged and can't deliver the physical goods. Therefore, when the true owner of 99 tons of gold wants physical delivery...it's deliver or default. The loss of the underlying commodity causes liquidity to dry up and all of those paper claims get settled in paper...or not at all. Now if just a few more big holders of gold demand their goods back...there is a saying for this...
Venezuela has about 300 tons on deposit around the world. A third of that, 99 tons, is stored with the Bank of England.
Post Script Update* Gold has soared nearly 100 dollars an ounce since this story broke last week.
He who panics first, panics best. Hugo "Chop Chop" Chavez may not be entirely crazy.
Yesterday that not-so crazy-all-of-the-time Hugo Chavez and Venezuela said they were "nationalizing" their gold industry. This is code for we want our gold back, chop chop. http://www.mineweb.com/mineweb/view/mineweb/en/page504?oid=133721&sn=Detail&pid=102055
Many people don't understand that gold bankers leverage gold much like they leverage dollars. However, gold- unlike dollars- can't be counterfeited. There is no FED bailout plan for banks that are extremely over leveraged and can't deliver the physical goods. Therefore, when the true owner of 99 tons of gold wants physical delivery...it's deliver or default. The loss of the underlying commodity causes liquidity to dry up and all of those paper claims get settled in paper...or not at all. Now if just a few more big holders of gold demand their goods back...there is a saying for this...
Venezuela has about 300 tons on deposit around the world. A third of that, 99 tons, is stored with the Bank of England.
Post Script Update* Gold has soared nearly 100 dollars an ounce since this story broke last week.
He who panics first, panics best. Hugo "Chop Chop" Chavez may not be entirely crazy.
Inflation Way Up, Unemployment Claims Up, Gold Way Up, Existing Home Sales Way Down, Market Way Down, Having Done Such Fantastic Work- Obama Leaving On Vacation
Geezus. You just can't make this stuff up. Obama isn't just ineffective, he is contemptible. http://money.cnn.com/2011/08/18/news/economy/inflation_cpi/index.htm?iid=H_BN_News
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