Saturday, February 14, 2009
Officially “Out Of Control” Posted: Feb 14 2009 By: Jim Sinclair Post Edited: February 14, 2009 at 8:26 pm Dear Extended Family, I sent you a certain few emails that I consider to be the most important communications issued in my career that started in 1958. I am the son of what I know to have been the greatest Lone Wolf trader in Wall Street history ever, Bertram J. Seligman. He was a past master at his business and believed to be a market sensitive. I apprenticed to him, learned from him and inherited some of his ability, not all however. From this background of experience understanding and sensitivity the following flows. The emails of note: 1. Said, "This is it." 2. Said, "It is now." This communication is to inform you as of 2/13/09, "It is totally out of control." There is no longer any means of reversal of the beginning of the final phase of the downward spiral now solidly set in motion. For your sake, protect yourselves immediately. Be prepared for disruptions in distribution common to hyperinflation. 1. You should have already distanced yourself from your financial agents. If you haven’t you are headed for significant displeasure and strain. 2. Make sure you stay three months ahead on necessary items that could experience distribution delays such as prescribed medicine and preferred foods. 3. Even though real estate is far from a buy, if you can afford a second home outside of major cities it would serve a good purpose. 4. Own gold. 5. Consider that good gold shares of non-US companies incorporated in a non-US country operating in third country, traded on multiple exchanges are a means of money expatriation legally and in broad daylight if required. 6. For currencies, all you can do is own a spread held by a true custodial ship wherever that might be. Simply said, as of Friday February 13th, 2009 the situation is in confirmed "Out of Control" mode as this well engineered downward spiral enters into a terminal phase. The motive was profit and degree of the disintegration caused in the pursuit of this goal was not anticipated. The key event was when Lehman was flushed - all hell broke loose. The hell cannot be contained in any practical manner. I seek nothing of you, but the protection of yourselves. Respectfully yours, Jim
MUST READ ARTICLE http://emsnews.wordpress.com/2009/02/13/us-debt-shooting-past-12-trillion/
Found this article from a link in the comments section of one of Elaine Supkis' previous posts from Dec 2008 which she refers to in her current post of Feb 14, 2009. The links to other articles within this article should be read to begin to understand how interleaved all these criminals and criminal organizations are. GO TO URL: http://www.henrymakow.com/we_all_are_victims_of_a_giant.html Take the time to understand that THIS IS OUR ENTIRE ECONOMIC SYSTEM THAT IS A WORLD WIDE PONZI SCHEME! This can NOT be 'fixed' without realizing the total and complete BANKRUPTCY of the entire world economic system! PAY BACK IS A BITCH!
Friday, February 13, 2009
Okay guys, I hope you have all purchased your 'boner pills', you know, that crap they've been advertising UN-mercifully for months now. And I hope you bought a Vermont Teddy Bear to please that special 'child-woman' they have in their advertisement. You know, the females that do an accurate portrayal of Hugh Hefner's 'Girls Next Door'. Those brainless flesh puppets that some men think are the kind of female they should be seeking, instead of one with a brain. And of course we don't want to forget to send our loved one a Pajama Gram. And last but not least, a dozen of the most over-priced Red Thorn Plants (roses) that anyone has ever been humiliated into buying to retain that so-called 'love' that was supposed to have bound you and your loved one together back when you were both in that hormonal trance that drew you to one another. Love and Kisses Kiddies. By Sunday, you will be in the dog house once again.
This is a very funny movie. It almost is NOT satire, but a real portrayal of our country, or what it will be soon. Look up the time on your local cable station. There are snippets of the movie on the internet, either YouTube or Google Videos. You can almost watch the whole movie that way.
Capitalism Needs a Sound-Money Foundation Let's give the Fed some competition. Abolish legal tender laws and see whose money people trust. By JUDY SHELTON Let's go back to the gold standard. If the very idea seems at odds with what is currently happening in our country -- with Congress preparing to pass a massive economic stimulus bill that will push the fiscal deficit to triple the size of last year's record budget gap -- it's because a gold standard stands in the way of runaway government spending. http://online.wsj.com/article/SB123440593696275773.html Article recommended by Jacob Hornberger at FFF.org
Thursday, February 12, 2009 Gun Control and Enemy Combatants by Jacob G. Hornberger Ever since Barack Obama’s election, gun and ammo sales have skyrocketed. Many online gun stores report “out of stock” for AK47s and AR15s, along with the ammunition for such assault rifles. Demand for these products, it appears, is insatiable. The reason for this enormous increase in demand seems to be concern that the Obama administration will enact another assault-weapons ban, perhaps even one that is more severe than the assault-weapons ban that expired in 2004. Gun owners seem to understand, as did our American ancestors, that gun ownership is a core feature of a free society. If I had to guess, I’m say that most of the people who are pro-Second Amendment are conservatives, which is ironic. It’s ironic because it was conservatives who enthusiastically supported President Bush’s assumption of omnipotent powers to wage his “war on terrorism,” powers that now reside in Barack Obama. Such powers include the enemy-combatant doctrine. How do the war on terrorism and its enemy-combatant doctrine relate to the Second Amendment? Here at The Future of Freedom Foundation, one of the principles we have long argued, especially with respect to civil liberties is this: Before you vest a public official with omnipotent powers, imagine first that the powers are being exercised by your worst enemy, and then decide whether it is still wise to do so. But conservatives didn’t listen. All that mattered was, “We can trust President Bush with omnipotent powers in the war on terrorism. He is our friend. He will protect us from the terrorists.” Then, much to the surprise and dismay of conservatives, Obama was elected president. Notwithstanding his much-vaunted campaign calling for “change,” Obama now wields all the war on terrorism powers that conservatives vested in Bush, including the power to seize any American and haul him way as a terrorist to a military prison camp, denying him due process and a jury trial, and subjecting him to treatment as a terrorist. That’s what the enemy combatant doctrine is all about. Thus, on the one hand, conservatives are concerned that President Obama is going to take away their guns. Yet, on the other hand, conservatives have vested Obama with the power to label them and everyone else enemy combatants, thereby empowering him (and his troops) to seize them and cart them away to a prison camp. Thus, conservatives are essentially saying, “We don’t want Obama to have the power to seize our guns but we do want him to have the power to seize us and to send us away to prison camps.” This week, Harvard Law Dean Elena Kagan, who will be representing the Obama administration before the Supreme Court, emphasized that the Obama administration will continue the Bush’s administration’s enemy-combatant doctrine. Why should that surprise anyone, even those who were expecting all that much-vaunted “change” that helped Obama get elected? When was the last time you saw any public official voluntarily giving up power? Given the omnipotent power to seize any American as enemy combatants, why should Obama care whether people still have the right to own guns? Even if Obama fully respects gun rights, what are the chances that he is going to permit enemy combatants to take their guns with them to prison camp? I’d say, not very high. Jacob Hornberger is founder and president of The Future of Freedom Foundation.
dingoman George Orwell, call your office ! If prostitution is the world’s oldest profession, then city mayors follow a very close second. In fact, it occurs to me they may be the spiritual offspring of the aforementioned liaisons. Whenever there is loose change or unclaimed dollar bills laying around, mayors can smell them a mile away and if a Sugar Daddy offers free cash, they never stop to question what the vigorish might be. The urban emperors, suburban commissars, the hack and the highbrow, the Republican and Democrat, the apolitical and amoral, the exurban apparatchiks all assemble to line dance down Pennsylvania Avenue like ladies of the evening on the way to a golden score with Big Daddy. The United States Conference of Mayors has assembled the most ridiculous and repulsive example of government excess I think I have ever seen. Here is a PDF file of the document which stretches to 344 pages. One of the most alarming features of this civic gluttony is the gift list request for funds to buy military SWAT assault equipment for police forces like the examples offered here by Texas blogger and Reason.com contributor, Trey Garrison: Frisco wants $125,000 for an armored vehicle and $200,000 for a mobile command vehicle. You know, for all that gang tank warfare going on up in Frisco. McKinney wants $5 million for SWAT toys and stuff. North Richland Hills wants $51,000 for volunteer patrol volunteers. Let’s throw in $10 for a dictionary so they can look up the word “volunteer.” Irving wants $5 million for biometric scanners, digital cameras, RFID scanners — nothing Big Brother there. Grand Prairie wants $1.25 million for nicer landscaping around the public safety building. And finally, Arlington is really gearing up for urban warfare. Arlington wants $1.6 million for SWAT toys including more equipment for those deadly but camera-friendly no-knock raids, $56,000 for military grade carbines, $625,000 for unmanned aerial surveillance drones, and $130,000 for “covert ops.” Here is the “Public Safety” wish list from the US Conference of Mayors. Radley Balko, of The Agitator and contributing editor of Reason, offers these galling examples of cops gone Rambo: • Sparks, Nevada wants $600,000 to purchase a “live fire” house its SWAT team can shoot up, and another $420,000 for a SWAT armored vehicle. • Pleasanton, California wants $250,000 to buy a vehicle for its SWAT team. • Gary, Indiana wants $750,000 for a host of “modernization” upgrades to its police department, including “sub-automatic machine guns” and an “armored vehicl” [sic]. • Hampton, Virginia wants a whopping $3.5 million for “Air Tactical Unit Support and Equipment,” which I’m pretty sure means they want a sweet helicopter for the SWAT team. • Ottawa, Illinois (population: 18,307) wants $60,000 to purchase, among other things, five “tactical entry rifles.” • Glendale Heights, Illinois wants $96,000 to purchase red light cameras, and another $67,000 to hire someone to monitor them. • Toward a more Orwellian America! The following cities requested stimulus funds to supplement, initiate, or upgrade public surveillance camera systems: Brockton, Massachusetts; Buffalo, New York; Burnsville, Minnesota; Caguas, Puerto Rico; Cerritos, California; Columbia, South Carolina; Compton, California; Homestead, Florida; Hormigueros, Puerto Rico; Indianapolis, Indiana; Inglewood, California; Lewiston, Maine; Lorain, Ohio; Lynn, Massachusetts; Marion, Ohio; Merced, California; New Rochelle, New York; North Richland Hills, Texas; Oakland, California; Orange, New Jersey; Orem, Utah; Orlando, Florida; Pembroke Pines, Florida; Ponce, Puerto Rico; Riverdale, Illinois; Shreveport, Louisiana; Silver City, New Mexico; Sumter, South Carolina; Tallahassee, Florida; Warren, Ohio; and Wilkes-Barre, Pennsylvania. Winston-Salem, North Carolina requested just under $85 million in security-related stimulation. But top prize goes to Tulsa, Oklahoma, which is asking the rest of the country to stimulte its economy with a whopping $135 million in public safety-related requests. All in all, America’s mayors asking for a little over $5.5 billion in public safety “stimulus.” The city of La Porte, Texas has applied for $700,000 to build a “Lifestyle Center” while the city of Houston wants a whopping $175,000,000 to build the “Metro Houston Intermodal Terminal” in downtown Houston. I could go on, but I am nauseated by reading these documents. Readers will have to carry on in my absence while I try to recover.
Wednesday, February 11, 2009
I had to put my good buddy Black Cat to sleep today. He had a tumor that cost him his left eye a few months ago. It appears to have been putting pressure on his brain, as he was not acting like his old self in the last few days. It could be that's why he went missing for 17 days. He might not have known where he lived and had a momentary glimpse of reality and found his way home on the 17th day. At least I got to spend the last 10 days with him. He was an extra special cat. A black bundle of furry love like no other I've every known. I pray there's a cat heaven and that that's where I wind up when I'm gone to be with all my special little pals.
Tuesday, February 10, 2009
The Daily Reckoning PRESENTS: A trillion-dollar bailout. ‘Demonizing’ private enterprise. Is President Obama destined to follow in the footsteps of FDR and the New Deal? Or is there still time to turn it around? Lew Rockwell explores... OBAMA’S WEALTH DESTRUCTION by Llewellyn H. Rockwell, Jr. President Obama is under the impression that history owes him $1 trillion right now to spend on whatever he wants. His language is strident and full of irritation that anyone would question his right to live out his personal dream of being Franklin Roosevelt to George Bush’s Hoover. This, he says, is what the election was all about. The arrogance reminds me of George Bush after 9-11, who similarly believed that history owed him a gargantuan war in the tradition of FDR. And look how that arrogance led to disgrace and loss, as he unwittingly presided over the destruction of American prosperity while searching for bugbears abroad. It just goes to show you that the presidency is something like a drug. It makes people lose all connection to reality. Part of the reality that Obama needs to recognize is that the New Deal was a calamity far worse than the initial market downturn that began it. He needs to stop basing his policies on dumbed-down civics texts versions of events and consider the economic logic. With his rhetoric and policies, he has decided to demonize private enterprise, just as FDR did, as a way to present government as the great savior. Now, think about this. If there is a way out of the recession, it will have to be provided by private enterprise. It will come by new businesses, business expansions, entrepreneurship, new technology, and this will be the source of lasting jobs and prosperity. You cannot make a country rich by looting taxpayers and paying people to pound nails into siding at public schools! These activities amount to capital consumption. They are not sources of investment. You can say that they are stupid tasks or wonderful tasks, but it is not a matter of ideology as to whether such public projects will make us all wealthier. They will not. They drain the sources of wealth from society. They represent a cost, not a blessing. That was also true of Bush’s dumb stimulus program. He was only bailing out his friends at our expense. The effect was to give a little longer life to institutions that were failing anyway. It’s pathetic that the Republicans ever went along with it. You will notice that the scheme didn’t actually work. Well, Obama is doing the same thing, though rewarding a different set of friends. This is not wealth production. This is wealth consumption. Do enough of this nonsense and you can destroy the livelihoods of an entire generation. Americans are proud of their system of government, but consider what it has given us this time around. We had an outgoing president who thought it was his right to grab as much as he could while leaving. Now we have a new president who thinks that the election entitled him to grab as much as he can, right from the beginning. We get looted by the state coming and going. It all amounts to one massive war on prosperity and freedom. Particularly culpable here are the official historians who have for generations heralded FDR as the great savior. It is a case study in how a civic lie can appear and fester for decades. The fact is that the New Deal did not work. It prolonged what might have been a troubling two-year downturn into a horrifying blow to world prosperity that ended up in a war that killed countless millions. It was one of the greatest acts of wreckage in world history. And Obama is inspired by this? He wants to repeat it? I’m not so cynical about human affairs that I believe that errors must be endlessly repeated. Obama can put a stop to his madness. He needs to know – someone must tell him frankly and openly – that his current path is going to lead not to recovery, but to an extension of suffering, and untold amounts of it. The biggest threat facing the American economy right now is rarely even discussed. It is the massive buildup of paper bank reserves in the last quarter of 2008. This was Bush’s doing. He ordered the Fed to print like mad. Fortunately for us, the banks are still holding on to these reserves. When they start lending again, the result could be hyperinflation of Confederate-dollar proportions. Hence the priority of the Obama administration should be to first do no evil, and second to find some means for withdrawing those reserves from the banking system before they wash through the economic structure and destroy the dollar. There is still time. He must act. Yes, that will lead to bank failures. That’s good! It will lead to business failures. That’s good and essential too. There simply is no choice. If he acts now, he could find that recovery will come before his second term. This is precisely what happened with Reagan. He was fortunate to have advisers who insisted that he let the liquidation happen rather than attempt to fix the recession of 1981–82 with huge new government spending programs. In any case, the hardest work to do here is intellectual. Obama’s head is filled with myths and lies, not only about FDR and the New Deal but also about the government’s power to repair the existing economic problems. With this model in his head, he can only do evil. This must change. Nothing is inevitable. He can turn on a dime. The main message: do not repeat the actions of FDR, lest you destroy what is left of American liberty and prosperity. Regards, Llewellyn H. Rockwell, Jr. for The Daily Reckoning
Nine Points Of Logic And Reason Posted: Feb 09 2009 By: Jim Sinclair Post Edited: February 9, 2009 Dear CIGAs, Nine points of logic and reason: This article is totally correct in saying nothing whatsoever has been done about the basic problem which is the failure of the OTC derivative. As long as the basic problem is not addressed by true valuation and bankruptcy of the friends of Washington all attempts to whitewash the disaster will in a short time wash away. The problem is how to value the failed OTC derivative properly because we can’t use the "zero" word. Because of #2 the US Treasury will guarantee a false value. Since the majority of SIVs will never perform due to bankruptcy in the asset chain, the US government will have to guarantee these at 100% of whatever value they intend to raise money on. Next, the US treasury will have to guarantee and/or provide 100% of the funds borrowed or raised to make this worthless unless guaranteed investment in a pile of miss-valued worthless SIV paper. Yielding the plan as it is now conceived is a useless camouflage of bankruptcy to be paid in via guarantee by the US taxpayer. We need no Bad Bank as we already have a really BAD one called the Federal Reserve. It is stuffed to its own bankruptcy level with all their financial pal’s OTC derivatives, also called toxic paper. The majority of dopes and all the financial media will praise this outstanding job of window dressing and whitewash painting as solid accomplishment at last. The media will have done a solid job instructing you that Toxic Paper is the villain, not those that manufactured the toxic paper OTC derivatives and distributed them, now having been bailed out 100% at your personal expense This is all a Devil’s financial brew being moiled and boiled daily in hopes of keeping you all firmly intoxicated. GT sez: As Dr. Phil says so often, "you can't change anything until you admit where you're at" (paraphrased) In MY WORDS: You can't fix something that is unfixable. You just have to admit that the money is gone and move on with what is left.
Armstrong Economics Posted: Feb 10 2009 By: Jim Sinclair Post Edited: February 10, 2009 Dear Friends, Read this and you need not read any more ever, anywhere. Save the file linked below. Each time you need me to hold your hand read this first. You will no longer need me. I have in chapter and verse outlined to you what is coming and why. This article is a maximus opus in line and verse, outlined in time and form and absolutely correct in content. I met Mr. Armstrong in the early 80s. I know his story better than most. This is a man who has been persecuted for his knowledge. He is a modern day Livermore. Armstrong is the only true genius in finance. No one can qualify to tie his shoes. He was incarcerated because of his talent by an all but now forgotten jurist. The why is forgotten. All that is remembered is someone’s belief he cost the IRS a large chunk of money. Armstrong Economics: The Coming Great Depression. Why Government Is Powerless http://www.jsmineset.com/wp-content/uploads/2009/02/martin-armstrong.pdf GT says: This is a 44 page PDF. Take the time to read it.
Monday, February 9, 2009
LINK TO THIS DAILY EMAIL: http://caseyresearch.com/displayDrp.php?e=true EXCERPT: "In a nutshell...it's the same old, same old routine as we've seen for the last decade or so. The '4 or less' traders in the Commercial category [U.S.bullion banks] continue to take the short side of virtually every long trade. They do it because there are no willing free-market participants that are stupid enough to take the short side of the trade at these prices for either gold or silver. If the bullion banks weren't there to take the other side of the trade, the prices for both metals would already be at the outer edges of the known universe...which is exactly what the U.S. government, the Fed and the U.S. bullion banks don't want to happen...as their precious US$ would disappear in the blink of an eye. Well, you say, how am I so sure it's the U.S. bullion banks that are involved. A couple of things. The first is called the monthly Bank Participation Report [BPR] which, coincidentally, was also issued yesterday...and also for positions held at the end of trading on February 3rd...the same as the latest COT. Both are snapshots of positions held at the exact same point in time...the close of business on Tuesday. So let's see what it says about what the U.S. bullion banks are up to. Firstly, silver...where it reports that two [or less] U.S. banks are short 27,189 contracts. The two [or less] U.S. banks have zero long positions. [As a comparison, there are thirteen non U.S. banks that are long 8,416 contracts and short 1,871 contracts.] Now...in the Commitment of Traders report yesterday, the silver net short position in the Commercial category was reported to be 33,173 contracts. So, by straight division, two [or less] U.S. bullion banks are short 82% of the net silver short position in the Commercial category on the Comex!!! Any questions? Now in gold, the Bank Participation Report [BPR] says that three [or less] U.S. bullion banks are short 111,190 contracts (a record high by a long shot!). They are long 3,629 contracts...so net, they are short 107,561 contracts. [As a comparison in gold, there are twenty-three non U.S. banks that are long 33,434 contracts and short 42,335 contracts.] In Friday's Commitment of Traders, the gold net short position in the Commercial category was reported to be 177,589 contracts. So, once again by straight division, three [or less] U.S. bullion banks are short 60% of the net gold short position in the Commercial category on the Comex. And if you remove all spreads in both metals, these short positions by these U.S. banks go from obscene to grotesque! Yet the CFTC says they're still studying the issue. The link to the Bank Participation report is (http://www.cftc.gov/dea/bank/deafeb09f.htm)... and you'll have to scroll down a bit."