Saturday, November 22, 2008
You're sound asleep when you hear a thump outside your bedroom door. Half-awake, and nearly paralyzed with fear,you hear muffled whispers. At least two people have broken into your house and are moving your way. With your heart pumping, you reach down beside your bed and pick up your shotgun. You rack a shell into the chamber, then inch toward the door and open it. In the darkness, you make out two shadows. One holds something that looks like a crowbar. When the intruder brandishes it as if to strike, you raise the shotgun and fire. The blast knocks both thugs to the floor. One writhes and screams while the second man crawls to the front door and lurches outside. As you pick up the telephone to call police, you know you're in trouble. In your country, most guns were outlawed years before and the few That are privately owned are so stringently regulated as to make them useless. Yours was never registered. Police arrive and inform you that the second burglar has died. They arrest you for First Degree Murder and Illegal Possess ion of a Firearm. When you talk to your attorney, he tells you not to worry: authorities will probably plea the case down to manslaughter. "What kind of sentence will I get?" you ask. "Only ten-to-twelve years," he replies, as if that's nothing. "Behave yourself, and you'll be out in seven." The next day, the shooting is the lead story in the local newspaper. Somehow, you're portrayed as an eccentric vigilante while the two men you shot are represented as choirboys. Their friends and relatives can't find an unkind word to say about them. Buried deep down in the article, authorities acknowledge that both "victims" have been arrested numerous times. But the next day's headline says it all: "Lovable Rogue Son Didn't Deserve to Die." The thieves have been transformed from career criminals into Robin Hood-type pranksters. As the days wear on, the story takes wings. The national media picks it up, then the international media. The surviving burglar has become a folk hero. Your attorney says the thief is preparing to sue you, and he'll probably win. The media publishes reports that your home has been burglarized several times in the past and that you've been critical of local police for their lack of effort in apprehending the suspects. After the last break-in, you told your neighbor that you would be prepared next time. The District Attorney uses this to allege that you were ly ing in wait for the burglars. A few months later, you go to trial. The charges haven't been reduced, as your lawyer had so confidently predicted. When you take the stand, your anger at the injustice of it all works against you. Prosecutors paint a picture of you as a mean, vengeful man. It doesn't take long for the jury to convict you of all charges. The judge sentences you to life in prison. This case really happened. On August 22, 1999, Tony Martin of Emneth, Norfolk , England , killed one burglar and wounded a second. In April, 2000, he was convicted and is now serving a life term. How did it become a crime to defend one's own life in the once great British Empire ? It started with the Pistols Act of 1903. This seemingly reasonable law forbade selling pistols to minors or felons and established that handgun sales were to be made only to those who had a license. The Firearms Act of 1920 expanded licensing to include not only handguns but all firearms except shotguns. Later laws passed in 1953 and 1967 outlawed the carrying of any weapon by private citizens and mandated the registration of all shotguns. Momentum for total handgun confiscation began in earnest after the Hungerford mass shooting in 1987. Michael Ryan, a mentally disturbed Man with a Kalashnikov rifle, walked down the streets shooting everyone he saw. When the smoke cleared, 17 people were dead. The British public, already de-sensitized by eighty years of "gun control", demanded even tougher restrictions. (The seizure of all privately owned handguns was the objective even though Ryan used a rifle.) Nine years later, at Dunblane , Scotland , Thomas Hamilton used a semi-automatic weapon to murder 16 children and a teacher at a public school. For many years, the media had portrayed all gun owners as mentally unstable, or worse, criminals. Now the press had a real kook with which to beat up law-abiding gun owners. Day after day, week after week, the media gave up all pretense of objectivity and demanded a total ban on all handguns. The Dunblane Inquiry, a few months later, sealed the fate of the few sidearm still owned by private citizens. During the years in which the British government incrementally took Away most gun rights, the notion that a citizen had the right to armed self-defense came to be seen as vigilantism. Authorities refused to grant gun licenses to people who were threatened, claiming that self-defense was no longer considered a reason to own a gun. Citizens who shot burglars or robbers or rapists were charged while the real criminals were released. Indeed, after the Martin shooting, a police spokesman was quoted as saying, "We cannot have people take the law into their own hands." All of Martin's neighbors had been robbed numerous times and several elderly people were severely injured in beatings by young thugs who had no fear of the consequences. Martin himself, a collector of antiques, had seen most of his collection trashed or stolen by burglars. When the Dunblane Inquiry ended, citizens who owned handguns were given three months to turn them over to local authorities. Being good British subjects, most people obeyed the law. The few who didn't were visited by police and threatened with ten-year prison sentences if they didn't comply. Police later bragged that they'd taken nearly 200,000 handguns from private citizens. How did the authorities know who had handguns? The guns had been registered and licensed. Kinda like cars. Sound familiar? WAKE UP AMERICA , THIS IS WHY OUR FOUNDING FATHERS PUT THE SECOND AMENDMENT IN OUR CONSTITUTION. "..it does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds.." --Samuel Adams If you think this is important, please forward to everyone you know.
Thursday, November 20, 2008
This Is Change? 20 Hawks, Clintonites and Neocons to Watch for in Obama's White House By Jeremy Scahill Obama has a momentous opportunity to do what he repeatedly promised over the course of his campaign: bring actual change. But the more we learn about who Obama is considering for top positions in his administration, the more his inner circle resembles a staff reunion of President Bill Clinton's White House. http://www.informationclearinghouse.info/article21279.htm
Obama and the Great Depression By Mickey Z. November 20, 2008 "Information Clearinghouse" -- No, I don’t mean that Great Depression. I’m talking about the inevitable moment—maybe next week, maybe next year—when the Kool Aid wears off and the Obamatrons wake up to realize their hero offers nothing even approximating hope or change. The carefully calculated speeches—which have always been filled with empty, hollow phrases—will no longer soothe a battered and desperate populace and the Obamabots will suddenly recognize that the Pope of Hope has never been anything more than a human marketing strategy, a product. This year’s iPhone. “Yes we can”? Merely the first three words of a longer phrase: “Yes we can continue to work, consume, and obey authority without question.” A great depression, so to speak, will set in. According to Depression.com, some people say this condition feels “like a black curtain of despair … Many people feel like they have no energy and can't concentrate. Others feel irritable all the time.” Other common symptoms include "empty" feelings and a sense of hopelessness. Hopelessness: how frighteningly appropriate for the inescapable post-Obama comedown. Change we can bereave in. Yes, a great and unpreventable depression will set in…but, you betcha, the damage is already done. As for that other Great Depression looming on the horizon, well, here’s my short-term economic recovery plan: Cut the military budget by 75% Eliminate corporate welfare Return the corporate tax rate back to where it was in the 1950s Hey, what can I say? I’m a maverick... Mickey Z. can be found on the Web at http://www.mickeyz.net.
This Is Not A Normal Recession Moving on to Plan B By Mike Whitney November 20, 2008 "Information Clearinghouse http://www.informationclearinghouse.info/article21280.htm EXCERPT: There are many types of of structured instruments including asset-backed securities (ABS), mortgage-backed securities (MBS), collateralized debt obligations (CDOs) and collateralized loan obligations (CLOs) all of which provide a revenue stream from loans that were chopped into tranches and turned into securities. There are many problems with these complex securities, the biggest of which is that there is no way to unravel the individual pools of loans to isolate the bad paper. That's why subprime mortgages had such a destructive affect on the secondary market, because--even though subprimes only defaulted at a rate of roughly 5 percent--MBS sales slumped nearly 90 percent. Why? Former Secretary of the Treasury Paul O'Neill explained it like this: "It's like you have 8 bottles of water and just one of them has arsenic in it. It becomes impossible to sell any of the other bottles because no one knows which one contains the poison." the real purpose of these exotic investments is not to provide true value to the buyer, but to maximize profits for the seller by increasing leverage.
Individualism, as a definition of holding to personal ideals, is classed as obstinacy and anti-social. Inevitably we run point blank into the evils of compromise. When compromise enters our moral fibre, it spreads like a cancerous growth. We think we plan adequate safeguards around areas in which we contemplate yielding our standards, but once we lower the fence and break our strong will to do right, come what may, we expose ourselves to forces that spread beyond control. Compromise always starts on some rather insignificant principle. The dangers of yielding seem negligible and we usually risk those things first where observation and detection by others is difficult. We thus seek to avoid censure and discipline. In a short time we find ourselves trading our principles for false values and doing it in the black market of human relationships. . . Ralph W. Hardy
I can't post videos on this blog due to some problems on this blog only. I can post them on the TALKBACKTOGOLDTRADER blog, and may. But you can access them quicker using the URLs below. GT ***************************************** This video can be accessed directly on YOUTUBE at: http://www.youtube.com/watch?v=ryNk76e4SXk&feature=related OR on THE DAILY PAUL BLOG at: http://www.dailypaul.com/ where you will find many more important videos on the most recent CRIMINAL happenings going on in Congress Hearings right now on the bailout(s) now expanding into all areas of the economy. If we don't stop these fiends now, you might as well go lay on the freeway and end your misery early.
Here is an email from David Duval who operates Sinclair's website. Dear Comrades In Golden Arms, Many of you may have had problems accessing the site in the last two days. We have been having issues with our name server which have at last been resolved. Depending on your location you may still have trouble accessing the site temporarily. This should be fixed by early afternoon today. If you are unable to access the site try typing the URL directly into your browser as jsmineset.com, withouth the preceding www. We apologize for any inconvenience this may have caused. Regards, Dan Duval JSMineset Editor
U.S. weekly jobless claims shoot up to 542,000 By Robert Schroeder Last update: 8:30 a.m. EST Nov. 20, 2008Comments: 2 WASHINGTON (MarketWatch) -- Weekly U.S. initial jobless claims rose by 27,000 to 542,000 in the week ending Nov. 15, the highest since July 1992, the Labor Department reported Thursday. The four-week average of initial claims climbed by 15,750 to 506,500, the highest since January 1983. Continuing jobless claims rose by 109,000 to 4.01 million in the week ending Nov. 8 and the four-week average of continuing claims rose by 71,250 to 3.86 million. The insured unemployment rate climbed to 3.0%
TODAY'S REPORTS: Jobless claims Philly Fed Leading indicators The economic system is falling apart at a very fast pace. GMAC (GM's financial arm) is asking for funds and to be a bank holding company. One pundit said yesterday that GM was just a broke financial company that sold cars on the side (my paraphrase). That about sums up most of the banks whose major purpose was to steal money from the public and government to give huge bonuses to the guys at the top rather than do anything "financial" for the public. Citi Bank appear to be going under too. It's all just a matter of time...and it won't take too much longer before we get a mass of major entities collapsing each day, or even each hour. The Guv'mint will attempt to control the crowds of rioters who are now out of work, have run out of food, and are freezing in the winter cold. People are either going to be killed or rushed off to the many concentration camps now staffed and ready for those that allow themselves to be "relocated" for their "own safety"...yeah right! CHECK OUT THIS LINK PROVIDED BY CSPANJUNKIE: http://uaff.us/deathcamps.htm
Wednesday, November 19, 2008
Consumer prices fall record 1% on record energy drop By Ruth Mantell Last update: 8:30 a.m. EST Nov. 19, 2008 WASHINGTON (MarketWatch) -- U.S. consumer prices declined a record 1% in October, seasonally adjusted, as energy prices fell a record 8.6%, the Labor Department reported Wednesday. Data on the overall CPI date back to 1947, and the energy data go back to 1957. Meanwhile, food prices in October rose 0.3%, the smallest gain since May. The core consumer price index - which excludes food and energy prices - fell 0.1%, the first time there's been a decline in the core rate since 1982. Economists surveyed by MarketWatch had expected the overall October CPI to fall 0.9%, and for the core to rise 0.1%.
Trader Dan Comments On September 2008 TIC Data Posted: Nov 19 2008 By: Dan Norcini Post Edited: November 19, 2008 at 12:42 am GO TO JSMINESET.COM FOR CHARTS LINK: Dear Friends, Today the Treasury released its International Capital Flows data for the month of September 2008. There are several noteworthy points that I feel deserve some comments. First of all, the headline number was met with great accolades from various pundits as it showed that net flows were the largest since January 2006. On the surface that was indeed remarkable. However, it should be noted that since late last year but especially since the middle of 2008, a trend has developed which can in part explain why we are witnessing continued capital inflows into the US even with all the uncertainties surrounding the massive bailouts that we knew were coming earlier this year and have only increased as we near the beginning of 2009. If you look at the first chart I have posted, you will see it is labeled, “Net Purchases or Sales by US Residents of Long Term Foreign Securities”. Extracting this portion of the data from the Treasury’s report we can see whether or not US investors were net buyers or net sellers of foreign securities. If they were net buyers, the numbers on the chart will be negative meaning money was FLOWING OUT OF THE US in order that US based investors could buy securities in emerging markets or other foreign markets. If the numbers on the chart are positive, it means that money was FLOWING INTO THE US as these same US based investors were SELLING their holdings abroad and REPATRIATING the money back into the US. For the sake of the Treasury’s reports, money that is being repatriated from abroad by US based investors is counted as a positive to the NET FLOWS data. What some folks are unwittingly doing is taking the headline number which shows a huge inflow and are making assumptions that fail to take into account that in some instances, more than half of the net flows coming into the country are NOT NEW PURCHASES of US securities by foreign investors and Central Banks but are merely the result of US investment funds and hedge funds selling their overseas holdings and bringing the cash back home. Whether they are doing this to meet margin calls, get liquid, pay out client redemption requests, or out of fear dumping everything and anything they own is irrelevant. The fact is that they are bringing the money back home and that is, in my opinion, clouding the true picture that the TIC report is showing. Just look at the chart and you will see that since the inception of the data plot, the recent repatriation dwarfs anything that we have seen since 2000. If you want to know where the strength in the Dollar is coming from, look no further than this chart because all of that repatriation means that foreign currencies were exchanged for US Dollars. When this repatriation comes to an abrupt end and the hedge fund deleveraging is complete, all of the buying that has pushed the Dollar higher into a near vertical rally will abruptly cease and when it does, down will come baby, cradle and all. A second noteworthy point – this data, which is two months old, shows an historical occurrence, namely, that China has now surpassed Japan as the number one holder of US Treasury debt. I have been pointing out for several months now that based on the rate of Chinese buying of US Treasuries, and the slow and steady rate at which Japan was becoming a net seller, the Chinese would soon become number one. They have now arrived. Also, since it is highly likely that the vast majority of buying that is coming out of London and is grouped into the category of Great Britain’s holdings is for Chinese customers, their share of US Treasury holdings is likely much larger than the reported $585 billion. Is it any wonder that China now has such a great stake in what happens to the US Dollar, the bailouts and the general health of the US fiscal condition? If I were them, I think I would sleep much better if I began accumulating gold as a decent sized portion of my reserves!
Tuesday, November 18, 2008
The G-20 Economic Summit Won’t Change the "Financial Crime Scene" By Richard C. Cook Remarks by Richard C. Cook George Mason University, Fairfax, Virginia - November 15, 2008 http://www.informationclearinghouse.info/article21250.htm EXCERPT: "What has happened during the Bush administration has been the greatest crime against the public interest in U.S. history. Its effects are only starting to be evident."
The G-20 Washout By Mike Whitney November 17, 2008 "Information Clearinghouse" -- As expected, the G-20 Economic Summit in Washington turned out to be a total bust. None of the problems which have pushed the global economy to the brink of disaster were resolved and none of the main players who gamed the system with their toxic securities were held accountable. Instead, the visiting dignitaries gorged themselves on stuffed quail and roast rack of lamb before settling on a toothless "Statement on Financial Markets" which accomplished absolutely nothing. The one noteworthy clause in the entire document is a two paragraph indictment of the United States as the perpetrator of the financial crisis. At least they got that right. http://www.informationclearinghouse.info/article21252.htm
Elaine has moved her website, but you can still access it, and all here previous posts, at the old website: http://elainemeinelsupkis.typepad.com/ which has as its last post, the link to the new website. This is the URL for this article which takes you to the NEW website. http://emsnews.wordpress.com/2008/11/18/abcpmmmflf-magic-money-mess/ Elaine has done a masterful job of dissecting a complex subject (CITI's bizarre accounting presentation of its unavoidable BANKRUPTCY) and even made it humorous. Take the time to scan/read it all so you can see just how diabolical these giant CRIMINAL organizations really are. EXCERPT: "people who hate socialism should ask this simple question: Why do all rich people rush to the government to protect them from losses? Why are so many people angry about our government protecting all of us from loss of health, loss of ability to work due to old age or the hazards of life like volcanoes, earthquakes and violent storms? Why are these things bad? The people who pour huge sums of money into thoughtless ‘think tanks’ want these organizations to spread propaganda discouraging the non-rich from accessing obvious government help when in dire straits. Yet, the instant these same people get in trouble, they trot off to DC to demand salvation and help. And this is, in a nutshell, why we have to throw out all those stupid studies and stories about the evils of socialism. We live in a socialist society. High society, that is."
Treasury International Capital (TIC) Data for September Treasury International Capital (TIC) data for September 2008 are released today and posted on the U.S. Treasury website (www.treas.gov/tic). The next release, which will report on data for October, is scheduled for December 15, 2008. Net foreign purchases of long-term securities were $66.2 billion. Net foreign purchases of long-term U.S. securities were $30.9 billion. Of this, net purchases by private foreign investors were $35.7 billion, and net purchases by foreign official institutions were negative $4.8 billion. U.S. residents sold a net $35.4 billion of long-term foreign securities. Net foreign acquisition of long-term securities, taking into account adjustments, is estimated to have been $52.7 billion. Foreign holdings of dollar-denominated short-term U.S. securities, including Treasury bills, and other custody liabilities increased $11.6 billion. Foreign holdings of Treasury bills increased $89.9 billion. Banks' own net dollar-denominated liabilities to foreign residents increased $79.1 billion. Monthly net TIC flows were $143.4 billion. Of this, net foreign private flows were $126.9 billion, and net foreign official flows were $16.4 billion.
PAUL B. FARRELL 30 reasons for Great Depression 2 by 2011 By Paul B. Farrell, MarketWatch Last update: 7:19 p.m. EST Nov. 17, 2008 (MarketWatch) -- By 2011? No recovery? No new bull? "Hey Paul, why do you keep talking about a bigger crash coming by 2011?" Readers ask that often. So here's a sequel to my predictions of 2000 and 2004, with a look three years ahead: http://www.marketwatch.com/news/story/Well-Great-Depression-2-2011/story.aspx?guid=%7BB28B49B5%2DEFD1%2D4941%2DB57E%2DA2BA1545BA09%7D
Monday, November 17, 2008
CREDIT TO FASTGT FOR THE LINK Chris Powell: Gold and silver market manipulation update Submitted by cpowell on Fri, 2008-11-14 18:28. Section: Daily Dispatches Remarks by Chris Powell, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. New Orleans Investment Conference New Orleans Marriott Hotel Thursday, November 13, 2008 http://gata.org/node/6871 EXCERPT: "the CFTC's latest report shows that just three or fewer banks now hold half the short positions in gold on the Comex and more than 80 percent of the silver short positions."
Sunday, November 16, 2008
Roubini's Latest "Why Things Are Hopeless" List Hits New Record, 20 Items! http://www.nakedcapitalism.com/2008/11/roubinis-latest-why-things-are-hopeless.html AND The Worst Is Not Behind Us Nouriel Roubini, 11.13.08, 12:01 AM EST Beware of those who say we've hit the bottom. http://www.forbes.com/opinions/2008/11/12/recession-global-economy-oped-cx_nr_1113roubini.html CREDIT TO CSPANJUNKIE FOR THE LINKS
CREDIT TO CSPANJUNKIE FOR THE LINK: LOTS OF GOOD LINKS ON THIS BLOG. http://www.nakedcapitalism.com/2008/11/yet-more-trade-finance-worries-not-for.html Yet More Trade Finance Worries (Not for the Fainthearted) EXCERPT: "If cargo trade stops, a whole lot of supply chain disruption starts.... If cargo trade stops, the wheat doesn’t get exported. If the wheat doesn’t get exported, the mill has nothing to grind into flour. If there is no flour, the bakeries and food processors can’t produce bread and pasta and other foods. If there are no foods shipped from the bakeries and factories, there are no foods in the shops. If there are no foods in the shops, people go hungry. If people go hungry their children go hungry. When children go hungry, people riot and governments fall. Everyone along the supply chain should worry about their children going hungry. When that happens, everyone in governments should worry about the riots. Controlling access to trade finance determines who loses their jobs, whose children go hungry, who riots, which governments fall....Trade finance is rapidly communicating the stress on bank liquidity to the real economy. It presents a systemic risk much more frightening than the collapsing value of bits of paper traded electronically in London and New York. It could collapse the employment, the well being and the political stability of most of the world’s population."