You Define Crooked
Wednesday, February 29, 2012 Amazing how American lemmings will blithely send their children to war for bankers that are robbing them blind. If this isn't crooked, what is? Bill Black once again exposes the truth that the MSM won't tell you.
"As we must account for every idle word, so must we account for every idle silence"
The Idiocracy Syndrome
Tuesday, February 28, 2012 Culture Shock is an interesting phenomena that I am an expert in experiencing. America has devolved so far down the freakish stupidity ladder that the smartest men in the country, the leaders of industry and finance and policy are dumber than Attorney Frito in the 2006 movie Idiocracy. What is the use of a high I.Q. if you are too blinded by hubris and selfishness to use it for the common good? Very scary.
February 22, 2012, at 8:39 pm by Jim Sinclair
Today was long and enlightening for me. I made multiple meetings in New York City with significant money managers.
If there was any startling realization today it was that among true geniuses and maturity in major money managers there is a grave lack of understanding concerning the forces at work in the financial can kick of the century now about to take place.
Only one person today knows that the war with Iran starts when Iran is frozen out of the Swift system. In terms of finance, that is a nuclear attack. It was just that threat alone that made Swiss banks destroy their tradition of privacy and send their loyal clients to a mass execution, assuming that they were cheating on taxes.
Not one person I spoke to today ever asked themselves who determines if credit event is a default and what that means to the mountain of credit default swaps that US banks have vended via their non US subsidiaries. By this method the count of these OTC derivatives by the US Controller of the Currency is way short of the true amount of debt insurance banks have sold.
Only one man understood what a commodity currency was and had studied where currency induced cost push inflation had produced severe price inflation during periods of awful economic conditions brought on by all types of debt failure.
I am speaking with leaders in finance who control immense sums of money. If these people do not understand the forces at work what makes you think politicians or their college professor appointees to central banks have a better understanding? The answer is simple – they do not!
Let me share with you the conclusion I took away from today’s luncheon.
1. What is going to happen is going to take place in March somewhere between the 14th and 20th in all probability.
2. What will determine the fate of markets is what action China does or does not take in providing funds to IMF bailout funds.
3. I believe China can and will extract significant trade and other benefits for their presence.
4. I believe China will want the same immunity that the IMF just took for themselves on sovereign debt in liquidation.
5. Greek gold will be held hostage to their debt.
6. That will accelerate the modest trend of repatriation of gold for the cellar of the New York Fed to nations like Germany that are certainly able to store their own wealth.
7. There will be an acceleration in the trend of utilization of other currencies than the dollar for contracting internationally regarding goods, service, oil and minerals.
8. I do not agree that we are at the doorstep now of major changes in the international monetary system. That comes in June of 2015.
9. I am certain that we are on the immediate threshold of the monster kick of the financial can down the road that is a dead end.
10. I believe China and the US Fed will assist in that great last can kick that backfires.
11. I am certain that I am in the right business and that business is the identification and accumulation of gold as gold is the ultimate survivor of what is about to happen.
12. I am certain the gold industry is mad as a Danbury hatter in selling their product the moment they produce it.
13. I am certain the gold and silver industry is in a transition back to the dividend producers they once were.
14. I am certain that the volatility in gold, silver and equities we have already seen is nothing compared to what is about to happen.
15. The last man standing among asset categories as the new monetary system is introduced sometime post June of 2015 will be gold and gold alone.
Monday, February 27, 2012 Numerous are the reasons that the USD will be worth about 30 cents before the next President leaves the White House. Factor this in, A Yuan based fund of 3.2TT to encourage the use of the Yuan as the reserve currency. The constant drop in the USD's use adds gasoline to the fire that is destroying our currency. Since I'm on the topic of Oil, expect $10.00/gal at the pump.
China sets up fund to bankroll takeovers
Boasting $3.2 trillion in foreign currency reserves, China has created a new fund aimed at financing takeover bids abroad. The fund also seeks to boost China’s currency in global financial markets.
In its drive to step up overseas investment, the Chinese government has set up a new fund worth 12 billion yuan ($1.9 billion), Shanghai International Group said in a statement Friday.
Shanghai International said it was responsible for running the fund, describing it as China’s "biggest ever fund of its kind."
"The yuan-backed fund will help domestic companies go abroad in seeking more investment opportunities," China’s central bank deputy governor Liu Shiyu was quoted by the official Shanghai Daily newspaper as saying.
The fund is planned to grow to 50 billion yuan, and can be boosted to 150 billion yuan through loans and bond issues.
Apart from financing overseas acquisitions, it is also intended to promote greater use of the Chinese currency yuan – also known as renminbi – in foreign transactions. More…
4 Star General Cred
Sunday, February 26, 2012 At the commonwealth club of California, Wesley Clark openly says that there was a policy coup at the White House. He claims the obvious; that Donald Rumsfeld, Paul Wolfowitz, Dick Cheney and other collaborators that led the Project for a New American Century had no reason for invading Iraq and that they had set a goal of destroying the governments of 7 countries in 5 years; -Iraq, Syria, Lebanon, Libya, Somolia, Sudan and Iran. They claimed as their only reason, that they must must clean up all former Soviet client regimes before the next super power comes on to challenge us.
Dichotomic Morals Of A Empire In Decline
Saturday, February 25, 2012 TOTALITARIANS have fascist control of Money, Law, Morals, Fiscals & Sovereignty. The Crooks & The Crooked bend the spoon. A Matrix of LustCORP (MediaCORP), BigCORP, GovCORP, BankCORP are embedded in our thoughts, moves, fears, desires, and habits. Power 101. One of my favorite new century erudite philosophers is Jesse's Café Américain Here's a some thoughtful input.
I think this is about as good a statement of the problem facing the US economic system today.
The 'checks and balances' and 'equal protection under the law' of the Constitution has been trampled upon by the monied interests. The obsessions of the few will not permit them to relent on their quest for all the marbles, even to a Pyrrhic victory.
In addition to the massive mortgage and foreclosure frauds, I can think of no better recent example than the looting of the customer accounts at MF Global, the manipulation of justice, and the subsequent cover up, because it is so senseless.
And if it destroys the futures markets in the process, as the members of the Futures Association fear, then so what?
We won, didn't we?
Why can't the Bank give back the customer money which they accepted in the last week of business? A billion dollars is small change, especially as they are sitting on a pile of unearned loot taken by fraud from the public already, and the price to be paid in the long run for it may be great.
Why don't serial killers ever quit? Because it is a matter of principle to them, the principle of pride, the pride of all those masters of the universe who consider themselves to be above all the rest, supra-human, the best. To give it back would be to admit that they are equal after all, merely human, and subject to the laws of the people. And the will to power that fills the hole in their being will not allow it. They need, and that need must be fulfilled, no matter what. What I must forego diminishes me. And to bend my knee to anything or anyone is a blasphemy against my self.
"Do what thou wilt shall be the whole of the law." - Aleister Crowley
Have we not proved we were smarter, better, different from all the rest, these creatures whom we use and despise? And if these sub-humans prove to be troublesome, we will disparage them, silence them, beat them, corral them, and even burn them.
Friday, February 24, 2012 I would not be surprised if the government in Washington has brainstorming sessions trying to find new ways to kill off pensioners. Whomever came up with this plan to work them to death probably got a bonus, (Maybe the weekend off).
For boomers, it’s a new era of ‘work til you drop’
By JOHN ROGERS
Feb 20, 4:26 PM EST
LOS ANGELES (AP) — When Paula Symons joined the U.S. workforce in 1972, typewriters in her office clacked nonstop, people answered the telephones and the hot new technology revolutionizing communication was the fax machine.
Symons, fresh out of college, entered this brave new world thinking she’d do pretty much what her parents’ generation did: Work for just one or two companies over about 45 years before bidding farewell to co-workers at a retirement party and heading off into her sunset years with a pension.
Forty years into that run, the 60-year-old communications specialist for a Wisconsin-based insurance company has worked more than a half-dozen jobs. She’s been laid off, downsized and seen the pension disappear with only a few thousand dollars accrued when it was frozen.
So, five years from the age when people once retired, she laughs when she describes her future plans.
"I’ll probably just work until I drop," she says, a sentiment expressed, with varying degrees of humor, by numerous members of her age group.
Like 78 million other U.S. Baby Boomers, Symons and her husband had the misfortune of approaching retirement age at a time when stock market crashes diminished their 401(k) nest eggs, companies began eliminating defined benefit pensions in record numbers and previously unimagined technical advances all but eliminated entire job descriptions from travel agent to telephone operator. More…
"All wars are follies, very expensive and very mischievious ones."
Federal Reserve Bank -3 Words None True
Thursday, February 23, 2012 So much for that word transparency that keeps being bandied about. Because of Adam Smith's Invisible Hand Theory you can expect that each and every Federal Reserve Governor is working in his or her best interest for their own gain just like capitalism is supposed to work. While they maintain power to take what they want, you won't know what hit you when they're finished with the dollar.
FED Writes Sweeping Rules From Behind Closed Doors
By VICTORIA MCGRANE And JON HILSENRATH
The Federal Reserve has operated almost entirely behind closed doors as it rewrites the rule book governing the U.S. financial system, a stark contrast with its push for transparency in its interest-rate policies and emergency-lending programs.
While many Americans may not realize it, the Fed has taken on a much larger regulatory role than at any time in history. Since the Dodd-Frank financial overhaul became law in July 2010, the Fed has held 47 separate votes on financial regulations, and scores more are coming. In the process it is reshaping the U.S. financial industry by directing banks on how much capital they must hold, what kind of trading they can engage in and what kind of fees they can charge retailers on debit-card transactions.
The Fed is making these sweeping changes—the most dramatic since the Great Depression—almost completely without public meetings. Rather than discussing rules and voting in public, as is done at other agencies with which the Fed often collaborates, Fed Chairman Ben Bernanke and the Fed’s four other governors have held just two public meetings since July 2010. On 45 of 47 of the draft or final regulatory measures during that period, they have emailed their votes to the central bank’s secretary.
The votes, in turn, weren’t publicly disclosed until last week, after The Wall Street Journal requested the information for this article. On Feb. 14, for the first time, the Fed posted on its website the names of the Fed governors voting for or against each closed-door regulatory action on Dodd-Frank since July 2010, when that law was enacted. More…
Goliath National Bank - Member FDIC
Wednesday, February 22, 2012 We'll be on your side when you need a friend,
Through thick and thin, you can always depend,
On the world leaders in credit and banking,
Goliath National Bank!
(member FDIC) (Credit to How I Met Your Mother Season 4 Ep.02)