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There is no sin in hoping for the best and being prepared for the worst!
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Greg
Tuesday, November 30, 2010
The Book of the #Prophet #Ezekiel - Perhaps no better description exists of #Ancient #Aliens
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The Prophet's Vision of the Divine Glory
1 Now it came to pass in the thirtieth year, in the fourth month, in the fifth day of the month, as I was among the captives by the river of Chebar, that the heavens were opened, Rev. 19.11 and I saw visions of God.
2 In the fifth day of the month, which was the fifth year of king Jehoi'achin's captivity, 2 Kgs. 24.10-16 · 2 Chr. 36.9, 10
3 the word of the LORD came expressly unto Ezekiel the priest, the son of Buzi, in the land of the Chalde'ans by the river Chebar; and the hand of the LORD was there upon him.
4 ¶ And I looked, and, behold, a whirlwind came out of the north, a great cloud, and a fire infolding itself, and a brightness was about it, and out of the midst thereof as the color of amber, out of the midst of the fire.
5 Also out of the midst thereof came the likeness of four living creatures. Rev. 4.6 And this was their appearance; they had the likeness of a man.
6 And every one had four faces, and every one had four wings.
7 And their feet were straight feet; and the sole of their feet was like the sole of a calf's foot: and they sparkled like the color of burnished brass.
8 And they had the hands of a man under their wings on their four sides; and they four had their faces and their wings.
9 Their wings were joined one to another; they turned not when they went; they went every one straight forward.
10 As for the likeness of their faces, they four had the face of a man, and the face of a lion, on the right side: and they four had the face of an ox on the left side; they four also had the face of an eagle. Ezek. 10.14 · Rev. 4.7
11 Thus were their faces: and their wings were stretched upward; two wings of every one were joined one to another, and two covered their bodies.
12 And they went every one straight forward: whither the spirit was to go, they went; and they turned not when they went.
13 As for the likeness of the living creatures, their appearance was like burning coals of fire, and like the appearance of lamps: Rev. 4.5 it went up and down among the living creatures; and the fire was bright, and out of the fire went forth lightning.
14 And the living creatures ran and returned as the appearance of a flash of lightning.
15 ¶ Now as I beheld the living creatures, behold one wheel upon the earth by the living creatures, with his four faces.
16 The appearance of the wheels and their work was like unto the color of a beryl: and they four had one likeness: and their appearance and their work was as it were a wheel in the middle of a wheel.
17 When they went, they went upon their four sides: and they turned not when they went.
18 As for their rings, they were so high that they were dreadful; and their rings were full of eyes round about Rev. 4.8 them four.
19 And when the living creatures went, the wheels went by them: and when the living creatures were lifted up from the earth, the wheels were lifted up.
20 Whithersoever the spirit was to go, they went, thither was their spirit to go; and the wheels were lifted up over against them: for the spirit of the living creature was in the wheels.
21 When those went, these went; and when those stood, these stood; and when those were lifted up from the earth, the wheels were lifted up over against them: for the spirit of the living creature was in the wheels. Ezek. 10.9-13
22 ¶ And the likeness of the firmament upon the heads of the living creature was as the color of the terrible crystal, Rev. 4.6 stretched forth over their heads above.
23 And under the firmament were their wings straight, the one toward the other: every one had two, which covered on this side, and every one had two, which covered on that side, their bodies.
24 And when they went, I heard the noise of their wings, like the noise of great waters, Rev. 1.14, 15 ; 19.6 as the voice of the Almighty, the voice of speech, as the noise of a host: when they stood, they let down their wings.
25 And there was a voice from the firmament that was over their heads, when they stood, and had let down their wings.
26 ¶ And above the firmament that was over their heads was the likeness of a throne, as the appearance of a sapphire stone: and upon the likeness of the throne was the likeness as the appearance of a man above upon it. Ezek. 10.1 · Rev. 4.2, 3
27 And I saw as the color of amber, as the appearance of fire round about within it, from the appearance of his loins even upward, and from the appearance of his loins even downward, I saw as it were the appearance of fire, and it had brightness round about. Ezek. 8.2
28 As the appearance of the bow that is in the cloud in the day of rain, so was the appearance of the brightness round about.
¶ This was the appearance of the likeness of the glory of the LORD. And when I saw it, I fell upon my face, and I heard a voice of one that spake.
The Prophet's Vision of the Divine Glory
1 Now it came to pass in the thirtieth year, in the fourth month, in the fifth day of the month, as I was among the captives by the river of Chebar, that the heavens were opened, Rev. 19.11 and I saw visions of God.
2 In the fifth day of the month, which was the fifth year of king Jehoi'achin's captivity, 2 Kgs. 24.10-16 · 2 Chr. 36.9, 10
3 the word of the LORD came expressly unto Ezekiel the priest, the son of Buzi, in the land of the Chalde'ans by the river Chebar; and the hand of the LORD was there upon him.
4 ¶ And I looked, and, behold, a whirlwind came out of the north, a great cloud, and a fire infolding itself, and a brightness was about it, and out of the midst thereof as the color of amber, out of the midst of the fire.
5 Also out of the midst thereof came the likeness of four living creatures. Rev. 4.6 And this was their appearance; they had the likeness of a man.
6 And every one had four faces, and every one had four wings.
7 And their feet were straight feet; and the sole of their feet was like the sole of a calf's foot: and they sparkled like the color of burnished brass.
8 And they had the hands of a man under their wings on their four sides; and they four had their faces and their wings.
9 Their wings were joined one to another; they turned not when they went; they went every one straight forward.
10 As for the likeness of their faces, they four had the face of a man, and the face of a lion, on the right side: and they four had the face of an ox on the left side; they four also had the face of an eagle. Ezek. 10.14 · Rev. 4.7
11 Thus were their faces: and their wings were stretched upward; two wings of every one were joined one to another, and two covered their bodies.
12 And they went every one straight forward: whither the spirit was to go, they went; and they turned not when they went.
13 As for the likeness of the living creatures, their appearance was like burning coals of fire, and like the appearance of lamps: Rev. 4.5 it went up and down among the living creatures; and the fire was bright, and out of the fire went forth lightning.
14 And the living creatures ran and returned as the appearance of a flash of lightning.
15 ¶ Now as I beheld the living creatures, behold one wheel upon the earth by the living creatures, with his four faces.
16 The appearance of the wheels and their work was like unto the color of a beryl: and they four had one likeness: and their appearance and their work was as it were a wheel in the middle of a wheel.
17 When they went, they went upon their four sides: and they turned not when they went.
18 As for their rings, they were so high that they were dreadful; and their rings were full of eyes round about Rev. 4.8 them four.
19 And when the living creatures went, the wheels went by them: and when the living creatures were lifted up from the earth, the wheels were lifted up.
20 Whithersoever the spirit was to go, they went, thither was their spirit to go; and the wheels were lifted up over against them: for the spirit of the living creature was in the wheels.
21 When those went, these went; and when those stood, these stood; and when those were lifted up from the earth, the wheels were lifted up over against them: for the spirit of the living creature was in the wheels. Ezek. 10.9-13
22 ¶ And the likeness of the firmament upon the heads of the living creature was as the color of the terrible crystal, Rev. 4.6 stretched forth over their heads above.
23 And under the firmament were their wings straight, the one toward the other: every one had two, which covered on this side, and every one had two, which covered on that side, their bodies.
24 And when they went, I heard the noise of their wings, like the noise of great waters, Rev. 1.14, 15 ; 19.6 as the voice of the Almighty, the voice of speech, as the noise of a host: when they stood, they let down their wings.
25 And there was a voice from the firmament that was over their heads, when they stood, and had let down their wings.
26 ¶ And above the firmament that was over their heads was the likeness of a throne, as the appearance of a sapphire stone: and upon the likeness of the throne was the likeness as the appearance of a man above upon it. Ezek. 10.1 · Rev. 4.2, 3
27 And I saw as the color of amber, as the appearance of fire round about within it, from the appearance of his loins even upward, and from the appearance of his loins even downward, I saw as it were the appearance of fire, and it had brightness round about. Ezek. 8.2
28 As the appearance of the bow that is in the cloud in the day of rain, so was the appearance of the brightness round about.
¶ This was the appearance of the likeness of the glory of the LORD. And when I saw it, I fell upon my face, and I heard a voice of one that spake.
Friday, November 26, 2010
With jobless benefits ending, agencies struggle to fill gap
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The wealth redistribution continues as government attempts to keep the United States economy afloat through whatever means necessary..
How much of this holiday spending spree is being supported by taxpayer money through extended unemployment benefits? Here we have taxpayers virtually purchasing Christmas gifts for the families of people who have lost their jobs.. This money goes straight into the coffers of retailers and banks who, while refusing to hire, are racking up record profits quarter after quarter..
It is obviously both unfair and unsustainable for the 52% of Americans who work and pay taxes to to prop up the 48% of Americans who do not work.. We all know that the true, non-manipulated unemployment number is much closer to 20% than it is to 10%
The Bernanke run Federal Reserve Bank has already stated that it will take years for the unemployment rate to return to "normal" levels close to 6% which is likely actually more like 12%
We, Americans, are expected to meekly accept yet another jobless recovery. Government will slowly bury the number of unemployed through data manipulation as they did after 2001.. Fewer and fewer people work for a living in this country from year to year.
A jobless recovery is one thing.. expecting taxpayers to continuously foot the bills of the unemployed through confiscation of their hard earned wealth through taxation is something else entirely..
It is our economic system, from top to bottom, that is diseased.. Our economy remains nothing but a ponzi scheme still based on the massive accumulation of ever more debt to prevent it's bursting. It matters not whether that debt is accumulated by dumbed down American Sheeple or by the United States government it is the ABILITY to forever borrow MORE money that drives the economy of the United States.
Now we are very close to making unemployment checks an entitlement also.. Even Republicans dare not speak of NOT continuing it, apparently forever, they only beg that it is "paid for" through cuts in other government spending.
It is STILL more debt! Our government HAS NO MONEY! They must borrow every dollar they spend, including for unemployment benefits.
As I have said for a long time now.. the MOST important thing about extended unemployment checks is to make sure these unemployed Americans can continue to make high interest rate payments to banks and retailers for overblown mortgages, car payments and credit card use. It's ONLY money for the banks and retailers.. a part of the continuing bailout mentality of Washington.
It has NOTHING to do with supporting our fellow Americans who have fallen on hard times.
As I'm fond of saying Follow the Money..
Please see the related article below and try reading between the lines a bit.. If you prefer you may click here for the source post..
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Friday, November 26, 2010
By Kevin Caufield
countyreporter@newstrib.com
Allison Ryan
svreporter@newstrib.com
With benefits set to run out, the unemployed may find themselves short on aid both from Congress and the local agencies that typically fill the gap.
“It’s getting to be slim pickings,” said Andrea Walters, executive director of United Way Illinois Valley, referring to the strain on local agencies. “It’s getting a little scary.”
According to the U.S. Department of Labor, an estimated 124,400 Illinois residents are expected to lose their unemployment benefits by Jan. 1 after the House of Representatives last week voted 258 to 154 to extend benefits through February, falling short of the two-thirds margin needed to pass the House under special rules allowing an expedited vote.
LOCAL SAFETY NET WORN THIN
Before the recession, people without jobs could turn to a handful of local agencies for help in hard times. Unfortunately, state-funded agencies such as Business Employment Skills Team and Dislocated Workers Center at Illinois Valley Community College have exhausted their funding for people in need.
“Our funding has been fully obliated at this point,” explained Pam Furlan, executive director of BEST. “We might be able to help a little, but we’re just tapped out.”
Nearly all of the federal money from the recovery act already is being used to help fund college retraining programs for formerly unemployed workers. (Once they begin college, they can no longer be counted in the nation’s unemployment rate.)
Furlan suggested those who find themselves cut off from unemployment should look for seasonal work at local retailers.
“We just don’t see a lot of hiring activity right now and that might be their only option,” she said. “We’re trying to get grants and apply for more funding, but at this point, people should try to find whatever job they can and hope that it turns into something full-time.”
Tri-County Opportunities Council also is prepared for funding to run out for some programs by the end of the year. And with the state’s uncertain financial future, those grants could be cut next year.
“We’ve seen a big increase in people looking for help for several months now,” said Judy Fiste, TCOC community services coordinator. By the end of October, the program already had enrolled 575 more households than in October 2009 in the service area that includes Bureau, Putnam, La Salle, Marshall and Stark counties.
Funding for the Low-Income Home Energy Assistance Program, on the other hand, is not in danger of running out, according to Sandra Julifs, agency president and chief executive officer.
United Way typically refers people to other area agencies that provide services, not cash, or to its “Tools for Tough Times” classes, which teach strategies for budgeting and saving money. Those classes have drawn 35-40 people per session.
“People need to make some difficult choices because the agency services are being depleted,” Walters said.
Enrollment is on the rise in aid programs at Department of Human Services in Bureau County, which provides state-supported services such as the Supplemental Nutrition Assistance Program (formerly known as food stamps), Temporary Assistance to Needy Families and medical programs, according to Julie Wager, local office administrator. She cited a mid-November report that counted 7,029 people receiving benefits though the Princeton office, including 1,600 households enrolled for SNAP; that’s a jump from February 2009, when 6,027 were enrolled for services and only 1,200 for SNAP.
HOUSE DIVIDED ON BENEFIT EXTENSION
The good news is, unemployment rates are falling, nationally and statewide. But that trend doesn’t carry over in most local figures. Local unemployment statistics in October mirrored September’s statistics: La Salle County stayed at 11.6 percent unemployment; in Bureau County at 10.4 percent; and the Ottawa-Streator area at 11.3 percent. Unemployment fell slightly in Putnam County from 10.9 percent in September to 10.6 percent in October; and in Marshall County, from 8.4 percent to 7.9.
Statistics are not available on how many of those local residents could be affected if the federal government’s extended unemployment benefit programs end.
Last week in the House, some 21 Republicans joined 237 Democrats voting to maintain extended unemployment benefits, while 11 Democrats and 143 Republicans voted against.
Representatives who voted against insist the cost — $160 billion in the last fiscal year — be offset by cuts elsewhere to prevent the nation’s $13 trillion debt from growing further. Those who voted in favor refused to make any budget cuts or savings to offset the additional expense.
House Democratic leaders told Reuters they would take up the measure again after its Thanksgiving Day holiday break when a two-thirds majority wouldn’t be needed.
Jobless benefits usually expire after six months but, since the recession took hold in 2007, Congress has voted to extend them for up to 99 weeks.
Those 99 weeks have been expiring for a growing number of Americans, and unless Congress acts when it returns from its vacation, hundreds of thousands of currently unemployed people will face the following unemployment changes:
* People currently receiving initial regular unemployment benefits will not have the federal government’s extended plans made available to them after they exhaust their 26 weeks of benefits.
* People currently in the federal government’s 53-week emergency unemployment compensation will be unable to move on to the next “tier.” The tiers are in increments of 20 weeks, 14, 13 and 6. So, for example, unemployed people in the 13-week-long Tier 3 will not be able to move on to the 6-week-long Tier 4.
* People currently in the federal government’s 13- to 20-week extended benefit program will see that program terminate in Illinois on Dec. 11 regardless of how long they have been enrolled.
Newly unemployed people are still eligible for the state’s 26-week unemployment aid program.
An Illinois Department of Employment Security announcement stated, “At this point, it is not clear whether an extension will be enacted or, if it is, when it will pass or how long the extension will be.”
The IDES warning letter only enhances the difficult economic conditions the country has experienced.
The jobless rate has been stuck around 9.6 percent as the nation struggles to emerge from its worst recession since the 1930s. Economists expect unemployment to remain high for years to come.
Nearly half of the 15 million unemployed people in the United States have been out of work for more than six months, the highest level of long-term unemployment since the government began keeping track in the 1940s.
HOW LONG DO BENEFITS LAST?
The maximum 99 weeks of unemployment benefits include: 26 weeks of regular state benefits, 53 weeks of Emergency Unemployment Compensation (EUC) in four separate tiers of 20, 14, 13 and 6 weeks, and finally, 20 weeks of Extended Benefits (EB).
Current federal law establishes the following
cutoff dates for the EUC and EB programs:
* Extended Unemployment Compensation (EUC) — Must exhaust regular benefits by Nov. 20 to be placed on EUC.
* EUC — Must exhaust an EUC tier by Nov. 27 to move to the next tier of EUC benefits.
* Extended Benefits (EB) will terminate in Illinois Dec. 4. No payments on EB will be made for weeks ending after this date.
The wealth redistribution continues as government attempts to keep the United States economy afloat through whatever means necessary..
How much of this holiday spending spree is being supported by taxpayer money through extended unemployment benefits? Here we have taxpayers virtually purchasing Christmas gifts for the families of people who have lost their jobs.. This money goes straight into the coffers of retailers and banks who, while refusing to hire, are racking up record profits quarter after quarter..
It is obviously both unfair and unsustainable for the 52% of Americans who work and pay taxes to to prop up the 48% of Americans who do not work.. We all know that the true, non-manipulated unemployment number is much closer to 20% than it is to 10%
The Bernanke run Federal Reserve Bank has already stated that it will take years for the unemployment rate to return to "normal" levels close to 6% which is likely actually more like 12%
We, Americans, are expected to meekly accept yet another jobless recovery. Government will slowly bury the number of unemployed through data manipulation as they did after 2001.. Fewer and fewer people work for a living in this country from year to year.
A jobless recovery is one thing.. expecting taxpayers to continuously foot the bills of the unemployed through confiscation of their hard earned wealth through taxation is something else entirely..
It is our economic system, from top to bottom, that is diseased.. Our economy remains nothing but a ponzi scheme still based on the massive accumulation of ever more debt to prevent it's bursting. It matters not whether that debt is accumulated by dumbed down American Sheeple or by the United States government it is the ABILITY to forever borrow MORE money that drives the economy of the United States.
Now we are very close to making unemployment checks an entitlement also.. Even Republicans dare not speak of NOT continuing it, apparently forever, they only beg that it is "paid for" through cuts in other government spending.
It is STILL more debt! Our government HAS NO MONEY! They must borrow every dollar they spend, including for unemployment benefits.
As I have said for a long time now.. the MOST important thing about extended unemployment checks is to make sure these unemployed Americans can continue to make high interest rate payments to banks and retailers for overblown mortgages, car payments and credit card use. It's ONLY money for the banks and retailers.. a part of the continuing bailout mentality of Washington.
It has NOTHING to do with supporting our fellow Americans who have fallen on hard times.
As I'm fond of saying Follow the Money..
Please see the related article below and try reading between the lines a bit.. If you prefer you may click here for the source post..
---
Friday, November 26, 2010
By Kevin Caufield
countyreporter@newstrib.com
Allison Ryan
svreporter@newstrib.com
With benefits set to run out, the unemployed may find themselves short on aid both from Congress and the local agencies that typically fill the gap.
“It’s getting to be slim pickings,” said Andrea Walters, executive director of United Way Illinois Valley, referring to the strain on local agencies. “It’s getting a little scary.”
According to the U.S. Department of Labor, an estimated 124,400 Illinois residents are expected to lose their unemployment benefits by Jan. 1 after the House of Representatives last week voted 258 to 154 to extend benefits through February, falling short of the two-thirds margin needed to pass the House under special rules allowing an expedited vote.
LOCAL SAFETY NET WORN THIN
Before the recession, people without jobs could turn to a handful of local agencies for help in hard times. Unfortunately, state-funded agencies such as Business Employment Skills Team and Dislocated Workers Center at Illinois Valley Community College have exhausted their funding for people in need.
“Our funding has been fully obliated at this point,” explained Pam Furlan, executive director of BEST. “We might be able to help a little, but we’re just tapped out.”
Nearly all of the federal money from the recovery act already is being used to help fund college retraining programs for formerly unemployed workers. (Once they begin college, they can no longer be counted in the nation’s unemployment rate.)
Furlan suggested those who find themselves cut off from unemployment should look for seasonal work at local retailers.
“We just don’t see a lot of hiring activity right now and that might be their only option,” she said. “We’re trying to get grants and apply for more funding, but at this point, people should try to find whatever job they can and hope that it turns into something full-time.”
Tri-County Opportunities Council also is prepared for funding to run out for some programs by the end of the year. And with the state’s uncertain financial future, those grants could be cut next year.
“We’ve seen a big increase in people looking for help for several months now,” said Judy Fiste, TCOC community services coordinator. By the end of October, the program already had enrolled 575 more households than in October 2009 in the service area that includes Bureau, Putnam, La Salle, Marshall and Stark counties.
Funding for the Low-Income Home Energy Assistance Program, on the other hand, is not in danger of running out, according to Sandra Julifs, agency president and chief executive officer.
United Way typically refers people to other area agencies that provide services, not cash, or to its “Tools for Tough Times” classes, which teach strategies for budgeting and saving money. Those classes have drawn 35-40 people per session.
“People need to make some difficult choices because the agency services are being depleted,” Walters said.
Enrollment is on the rise in aid programs at Department of Human Services in Bureau County, which provides state-supported services such as the Supplemental Nutrition Assistance Program (formerly known as food stamps), Temporary Assistance to Needy Families and medical programs, according to Julie Wager, local office administrator. She cited a mid-November report that counted 7,029 people receiving benefits though the Princeton office, including 1,600 households enrolled for SNAP; that’s a jump from February 2009, when 6,027 were enrolled for services and only 1,200 for SNAP.
HOUSE DIVIDED ON BENEFIT EXTENSION
The good news is, unemployment rates are falling, nationally and statewide. But that trend doesn’t carry over in most local figures. Local unemployment statistics in October mirrored September’s statistics: La Salle County stayed at 11.6 percent unemployment; in Bureau County at 10.4 percent; and the Ottawa-Streator area at 11.3 percent. Unemployment fell slightly in Putnam County from 10.9 percent in September to 10.6 percent in October; and in Marshall County, from 8.4 percent to 7.9.
Statistics are not available on how many of those local residents could be affected if the federal government’s extended unemployment benefit programs end.
Last week in the House, some 21 Republicans joined 237 Democrats voting to maintain extended unemployment benefits, while 11 Democrats and 143 Republicans voted against.
Representatives who voted against insist the cost — $160 billion in the last fiscal year — be offset by cuts elsewhere to prevent the nation’s $13 trillion debt from growing further. Those who voted in favor refused to make any budget cuts or savings to offset the additional expense.
House Democratic leaders told Reuters they would take up the measure again after its Thanksgiving Day holiday break when a two-thirds majority wouldn’t be needed.
Jobless benefits usually expire after six months but, since the recession took hold in 2007, Congress has voted to extend them for up to 99 weeks.
Those 99 weeks have been expiring for a growing number of Americans, and unless Congress acts when it returns from its vacation, hundreds of thousands of currently unemployed people will face the following unemployment changes:
* People currently receiving initial regular unemployment benefits will not have the federal government’s extended plans made available to them after they exhaust their 26 weeks of benefits.
* People currently in the federal government’s 53-week emergency unemployment compensation will be unable to move on to the next “tier.” The tiers are in increments of 20 weeks, 14, 13 and 6. So, for example, unemployed people in the 13-week-long Tier 3 will not be able to move on to the 6-week-long Tier 4.
* People currently in the federal government’s 13- to 20-week extended benefit program will see that program terminate in Illinois on Dec. 11 regardless of how long they have been enrolled.
Newly unemployed people are still eligible for the state’s 26-week unemployment aid program.
An Illinois Department of Employment Security announcement stated, “At this point, it is not clear whether an extension will be enacted or, if it is, when it will pass or how long the extension will be.”
The IDES warning letter only enhances the difficult economic conditions the country has experienced.
The jobless rate has been stuck around 9.6 percent as the nation struggles to emerge from its worst recession since the 1930s. Economists expect unemployment to remain high for years to come.
Nearly half of the 15 million unemployed people in the United States have been out of work for more than six months, the highest level of long-term unemployment since the government began keeping track in the 1940s.
HOW LONG DO BENEFITS LAST?
The maximum 99 weeks of unemployment benefits include: 26 weeks of regular state benefits, 53 weeks of Emergency Unemployment Compensation (EUC) in four separate tiers of 20, 14, 13 and 6 weeks, and finally, 20 weeks of Extended Benefits (EB).
Current federal law establishes the following
cutoff dates for the EUC and EB programs:
* Extended Unemployment Compensation (EUC) — Must exhaust regular benefits by Nov. 20 to be placed on EUC.
* EUC — Must exhaust an EUC tier by Nov. 27 to move to the next tier of EUC benefits.
* Extended Benefits (EB) will terminate in Illinois Dec. 4. No payments on EB will be made for weeks ending after this date.
Sunday, November 21, 2010
*I* say sh*t sometimes.. Maybe you should too? #price #inflation
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We like wine ;) So we look for bargains there too. We have been buying Corbett Canyon Cabernet Sauvignon in a 1.5 liter bottle for 4.99. It's pretty good stuff we think, we like it ok for a standard inexpensive table wine.
We have been purchasing it at Mays Drug locally, at that price, for a few weeks. We went in the other day and the price had jumped, from one week to the next, to 5.44 a bottle. That's a price increase, or price inflation, of something close to 9%
I hope no one enjoys paying higher prices for the the things they buy. The current plan of action for our beloved Federal Reserve Bank is to increase prices on virtually everything, to 'inflate' the economy. But that's for another post..
All I did when we went to the checkout counter was to comment on the fact that the price had just jumped nearly 10% in one week and wondered out loud if it had anything to do with expected increased holiday sales of wine and/or boosting profits.
I don't know if the gal ringing up our purchase was a peon, a supervisor or a manager and I didn't really expect much of a response. I didn't get much of one either LMAO She meekly repeated what I had said myself ".. nothing to do with holiday sales". Ok, whatever, I thought to myself lol
*I* think it's a good idea to ask questions and/or make comments that show we really don't approve of retailers taking more of our hard earned money. I always prefer that they take less of mine..
Collectively we, the people, have a voice. We can make a difference by using capitalism properly and avoiding indifferent consumerism. Have a voice. When/if you see retailers, utility companies, drug companies, anyone doing anything to grab ever more of YOUR money say something about it, do something about it, shop around, refuse to pay more unless you absolutely have to..
One day maybe this economy will get what it has been screaming for for more than 2 years now.. A serious bout of deflation to correct the severe excesses throughout our economic system.
We can only hope.. Or can we do even more by refusing to pay more and the higher prices go the more we restrain our own spending? American consumers represent some 70% of the economy in the United States. Maybe we should try to use that fact to our own advantage ;)
Greg
We like wine ;) So we look for bargains there too. We have been buying Corbett Canyon Cabernet Sauvignon in a 1.5 liter bottle for 4.99. It's pretty good stuff we think, we like it ok for a standard inexpensive table wine.
We have been purchasing it at Mays Drug locally, at that price, for a few weeks. We went in the other day and the price had jumped, from one week to the next, to 5.44 a bottle. That's a price increase, or price inflation, of something close to 9%
I hope no one enjoys paying higher prices for the the things they buy. The current plan of action for our beloved Federal Reserve Bank is to increase prices on virtually everything, to 'inflate' the economy. But that's for another post..
All I did when we went to the checkout counter was to comment on the fact that the price had just jumped nearly 10% in one week and wondered out loud if it had anything to do with expected increased holiday sales of wine and/or boosting profits.
I don't know if the gal ringing up our purchase was a peon, a supervisor or a manager and I didn't really expect much of a response. I didn't get much of one either LMAO She meekly repeated what I had said myself ".. nothing to do with holiday sales". Ok, whatever, I thought to myself lol
*I* think it's a good idea to ask questions and/or make comments that show we really don't approve of retailers taking more of our hard earned money. I always prefer that they take less of mine..
Collectively we, the people, have a voice. We can make a difference by using capitalism properly and avoiding indifferent consumerism. Have a voice. When/if you see retailers, utility companies, drug companies, anyone doing anything to grab ever more of YOUR money say something about it, do something about it, shop around, refuse to pay more unless you absolutely have to..
One day maybe this economy will get what it has been screaming for for more than 2 years now.. A serious bout of deflation to correct the severe excesses throughout our economic system.
We can only hope.. Or can we do even more by refusing to pay more and the higher prices go the more we restrain our own spending? American consumers represent some 70% of the economy in the United States. Maybe we should try to use that fact to our own advantage ;)
Greg
Friday, November 19, 2010
#Usury Special - How the #government #FED & #banks intentionally #STEAL your #money through #debt #slavery
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@philadelphiafed Plz explain 2 us mere mortals how a 10% interest cap is bad? Didn't our problems begin in 1979 when #congress & #FED abolished states rights to impose #usury #laws? Isn't that when #greed took over & entrapping ppl in #debt #slavery became common business practice?
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You CANNOT and SHOULD NOT depend on governmental agencies such as the SEC and CFTC nor the Federal Reserve Bank to protect you as a consumer.. They are all part of the same cabal that threatens to rip this country apart by totally destroying our economy..
Please view the series of short videos below to educate yourself about usury. Where it came from, what it is about and how it has been used to enslave people to debt for centuries..
USURY - Sharks Disguised As Financial Institutions (10 minutes)
The Usury States of America (Prof. Warren and Bill Maher) (4 1/2 minutes)
Slavery by Consent Pt.5 (Usury) (7 1/2 minutes)
Usury Killed Economy CEPersVid-25 (9 minutes)
Usury statutes in the United States
Each U.S. state has its own statute which dictates how much interest can be charged before it is considered usurious or unlawful.
If a lender charges above the lawful interest rate, a court will not allow the lender to sue to recover the debt because the interest rate was illegal anyway. In some states (such as New York) such loans are voided ab initio[33]
However, there are separate rules applied to most banks. The U.S. Supreme Court held unanimously in the 1978 Marquette Nat. Bank of Minneapolis v. First of Omaha Service Corp. case that the National Banking Act of 1863 allowed nationally chartered banks to charge the legal rate of interest in their state regardless of the borrower's state of residence.[34] In 1980, because of inflation, Congress passed the Depository Institutions Deregulation and Monetary Control Act exempting federally chartered savings banks, installment plan sellers and chartered loan companies from state usury limits. This effectively overrode all state and local usury laws.[35][36] The 1968 Truth in Lending Act does not regulate rates, except in the cases of some mortgages, but it does require uniform or standardized disclosure of costs and charges.[37]
In the 1996 Smiley v. Citibank case, the Supreme Court further limited states' power to regulate credit card fees, extending the reach of the Marquette decision. The court held that the word "interest" used in the 1863 banking law included fees, and, therefore, that states could not regulate fees.[38]
Some members of Congress have tried to create a federal usury statute that would limit the maximum allowable interest rate, but the measures have not progressed. In July, 2010, the Dodd–Frank Wall Street Reform and Consumer Protection Act, was signed into law by President Obama. The act provides for a Consumer Financial Protection Agency to regulate some credit practices, but does not have an interest rate limit.[39]
For a more in depth discussion on the history of usury, which includes the information above, please see this Wikipedia article
The government and the FED and the banks and the multinational corporations have done, and will do, NOTHING to correct this usurious CANCER that is destroying American life. For that reason WE must be proactive in putting the banks and all usurious corporations where they belong, in bankruptcy court.
Greg
@philadelphiafed Plz explain 2 us mere mortals how a 10% interest cap is bad? Didn't our problems begin in 1979 when #congress & #FED abolished states rights to impose #usury #laws? Isn't that when #greed took over & entrapping ppl in #debt #slavery became common business practice?
---
You CANNOT and SHOULD NOT depend on governmental agencies such as the SEC and CFTC nor the Federal Reserve Bank to protect you as a consumer.. They are all part of the same cabal that threatens to rip this country apart by totally destroying our economy..
Please view the series of short videos below to educate yourself about usury. Where it came from, what it is about and how it has been used to enslave people to debt for centuries..
USURY - Sharks Disguised As Financial Institutions (10 minutes)
The Usury States of America (Prof. Warren and Bill Maher) (4 1/2 minutes)
Slavery by Consent Pt.5 (Usury) (7 1/2 minutes)
Usury Killed Economy CEPersVid-25 (9 minutes)
Usury statutes in the United States
Each U.S. state has its own statute which dictates how much interest can be charged before it is considered usurious or unlawful.
If a lender charges above the lawful interest rate, a court will not allow the lender to sue to recover the debt because the interest rate was illegal anyway. In some states (such as New York) such loans are voided ab initio[33]
However, there are separate rules applied to most banks. The U.S. Supreme Court held unanimously in the 1978 Marquette Nat. Bank of Minneapolis v. First of Omaha Service Corp. case that the National Banking Act of 1863 allowed nationally chartered banks to charge the legal rate of interest in their state regardless of the borrower's state of residence.[34] In 1980, because of inflation, Congress passed the Depository Institutions Deregulation and Monetary Control Act exempting federally chartered savings banks, installment plan sellers and chartered loan companies from state usury limits. This effectively overrode all state and local usury laws.[35][36] The 1968 Truth in Lending Act does not regulate rates, except in the cases of some mortgages, but it does require uniform or standardized disclosure of costs and charges.[37]
In the 1996 Smiley v. Citibank case, the Supreme Court further limited states' power to regulate credit card fees, extending the reach of the Marquette decision. The court held that the word "interest" used in the 1863 banking law included fees, and, therefore, that states could not regulate fees.[38]
Some members of Congress have tried to create a federal usury statute that would limit the maximum allowable interest rate, but the measures have not progressed. In July, 2010, the Dodd–Frank Wall Street Reform and Consumer Protection Act, was signed into law by President Obama. The act provides for a Consumer Financial Protection Agency to regulate some credit practices, but does not have an interest rate limit.[39]
For a more in depth discussion on the history of usury, which includes the information above, please see this Wikipedia article
The government and the FED and the banks and the multinational corporations have done, and will do, NOTHING to correct this usurious CANCER that is destroying American life. For that reason WE must be proactive in putting the banks and all usurious corporations where they belong, in bankruptcy court.
Greg
Thursday, November 18, 2010
Reading assignment for the #TSA - The Fourth Amendment
The Fourth Amendment
Text of Amendment:
The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.
Writs of Assistance:
The Fourth Amendment was written directly in response to British general warrants (called Writs of Assistance), in which the Crown would grant general search powers to British law enforcement official. These officials could search virtually any home they liked, at any time they liked, for any reason they liked or for no reason at all. Since many of the founding fathers were smugglers, this was an especially unpopular concept in the colonies.
Limited Power:
In practical terms, there is no means by which the government can exercise prior restraint on law enforcement officials. If an officer in Jackson, Mississippi wants to conduct a warrantless search without probable cause, the judiciary is not present at the time and can't prevent the search. This meant that the Fourth Amendment had little power or relevance until 1914.
The Exclusionary Rule:
In Weeks v. United States (1914), the Supreme Court established what has been known as the exclusionary rule. The exclusionary rule states that evidence obtained through unconstitutional means is inadmissible in court and cannot be used as part of the prosecution's case. Before Weeks, law enforcement officials could violate the Fourth Amendment without being punished for it, secure the evidence, and use it at trial. The exclusionary rule establishes consequences for violating a suspect's Fourth Amendment rights.
Warrantless Searches:
The Supreme Court has held that searches and arrests can be performed without a warrant under some circumstances. Most notably, arrests and searches can be performed if the officer personally witnesses the suspect committing a misdemeanor, or has reasonable cause to believe that the suspect has committed a specific, documented felony.
Right to Privacy:
Although the implicit privacy rights established in Griswold v. Connecticut (1965) and Roe v. Wade (1973) are most often associated with the Fourteenth Amendment, the Fourth Amendment contains an explicit "right of the people to be secure in their persons" that is also strongly indicative of a constitutional right to privacy.
Text of Amendment:
The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.
Writs of Assistance:
The Fourth Amendment was written directly in response to British general warrants (called Writs of Assistance), in which the Crown would grant general search powers to British law enforcement official. These officials could search virtually any home they liked, at any time they liked, for any reason they liked or for no reason at all. Since many of the founding fathers were smugglers, this was an especially unpopular concept in the colonies.
Limited Power:
In practical terms, there is no means by which the government can exercise prior restraint on law enforcement officials. If an officer in Jackson, Mississippi wants to conduct a warrantless search without probable cause, the judiciary is not present at the time and can't prevent the search. This meant that the Fourth Amendment had little power or relevance until 1914.
The Exclusionary Rule:
In Weeks v. United States (1914), the Supreme Court established what has been known as the exclusionary rule. The exclusionary rule states that evidence obtained through unconstitutional means is inadmissible in court and cannot be used as part of the prosecution's case. Before Weeks, law enforcement officials could violate the Fourth Amendment without being punished for it, secure the evidence, and use it at trial. The exclusionary rule establishes consequences for violating a suspect's Fourth Amendment rights.
Warrantless Searches:
The Supreme Court has held that searches and arrests can be performed without a warrant under some circumstances. Most notably, arrests and searches can be performed if the officer personally witnesses the suspect committing a misdemeanor, or has reasonable cause to believe that the suspect has committed a specific, documented felony.
Right to Privacy:
Although the implicit privacy rights established in Griswold v. Connecticut (1965) and Roe v. Wade (1973) are most often associated with the Fourteenth Amendment, the Fourth Amendment contains an explicit "right of the people to be secure in their persons" that is also strongly indicative of a constitutional right to privacy.
#Revelation contains the answers to your 2012 questions
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Revelation 21
1And I saw a new heaven and a new earth: for the first heaven and the first earth were passed away; and there was no more sea.
2And I John saw the holy city, new Jerusalem, coming down from God out of heaven, prepared as a bride adorned for her husband.
3And I heard a great voice out of heaven saying, Behold, the tabernacle of God is with men, and he will dwell with them, and they shall be his people, and God himself shall be with them, and be their God.
4And God shall wipe away all tears from their eyes; and there shall be no more death, neither sorrow, nor crying, neither shall there be any more pain: for the former things are passed away.
5And he that sat upon the throne said, Behold, I make all things new. And he said unto me, Write: for these words are true and faithful.
6And he said unto me, It is done. I am Alpha and Omega, the beginning and the end. I will give unto him that is athirst of the fountain of the water of life freely.
7He that overcometh shall inherit all things; and I will be his God, and he shall be my son.
8But the fearful, and unbelieving, and the abominable, and murderers, and whoremongers, and sorcerers, and idolaters, and all liars, shall have their part in the lake which burneth with fire and brimstone: which is the second death.
9And there came unto me one of the seven angels which had the seven vials full of the seven last plagues, and talked with me, saying, Come hither, I will shew thee the bride, the Lamb's wife.
10And he carried me away in the spirit to a great and high mountain, and shewed me that great city, the holy Jerusalem, descending out of heaven from God,
11Having the glory of God: and her light was like unto a stone most precious, even like a jasper stone, clear as crystal;
12And had a wall great and high, and had twelve gates, and at the gates twelve angels, and names written thereon, which are the names of the twelve tribes of the children of Israel:
13On the east three gates; on the north three gates; on the south three gates; and on the west three gates.
14And the wall of the city had twelve foundations, and in them the names of the twelve apostles of the Lamb.
15And he that talked with me had a golden reed to measure the city, and the gates thereof, and the wall thereof.
16And the city lieth foursquare, and the length is as large as the breadth: and he measured the city with the reed, twelve thousand furlongs. The length and the breadth and the height of it are equal.
17And he measured the wall thereof, an hundred and forty and four cubits, according to the measure of a man, that is, of the angel.
18And the building of the wall of it was of jasper: and the city was pure gold, like unto clear glass.
19And the foundations of the wall of the city were garnished with all manner of precious stones. The first foundation was jasper; the second, sapphire; the third, a chalcedony; the fourth, an emerald;
20The fifth, sardonyx; the sixth, sardius; the seventh, chrysolyte; the eighth, beryl; the ninth, a topaz; the tenth, a chrysoprasus; the eleventh, a jacinth; the twelfth, an amethyst.
21And the twelve gates were twelve pearls: every several gate was of one pearl: and the street of the city was pure gold, as it were transparent glass.
22And I saw no temple therein: for the Lord God Almighty and the Lamb are the temple of it.
23And the city had no need of the sun, neither of the moon, to shine in it: for the glory of God did lighten it, and the Lamb is the light thereof.
24And the nations of them which are saved shall walk in the light of it: and the kings of the earth do bring their glory and honour into it.
25And the gates of it shall not be shut at all by day: for there shall be no night there.
26And they shall bring the glory and honour of the nations into it.
27And there shall in no wise enter into it any thing that defileth, neither whatsoever worketh abomination, or maketh a lie: but they which are written in the Lamb's book of life.
Revelation 21
1And I saw a new heaven and a new earth: for the first heaven and the first earth were passed away; and there was no more sea.
2And I John saw the holy city, new Jerusalem, coming down from God out of heaven, prepared as a bride adorned for her husband.
3And I heard a great voice out of heaven saying, Behold, the tabernacle of God is with men, and he will dwell with them, and they shall be his people, and God himself shall be with them, and be their God.
4And God shall wipe away all tears from their eyes; and there shall be no more death, neither sorrow, nor crying, neither shall there be any more pain: for the former things are passed away.
5And he that sat upon the throne said, Behold, I make all things new. And he said unto me, Write: for these words are true and faithful.
6And he said unto me, It is done. I am Alpha and Omega, the beginning and the end. I will give unto him that is athirst of the fountain of the water of life freely.
7He that overcometh shall inherit all things; and I will be his God, and he shall be my son.
8But the fearful, and unbelieving, and the abominable, and murderers, and whoremongers, and sorcerers, and idolaters, and all liars, shall have their part in the lake which burneth with fire and brimstone: which is the second death.
9And there came unto me one of the seven angels which had the seven vials full of the seven last plagues, and talked with me, saying, Come hither, I will shew thee the bride, the Lamb's wife.
10And he carried me away in the spirit to a great and high mountain, and shewed me that great city, the holy Jerusalem, descending out of heaven from God,
11Having the glory of God: and her light was like unto a stone most precious, even like a jasper stone, clear as crystal;
12And had a wall great and high, and had twelve gates, and at the gates twelve angels, and names written thereon, which are the names of the twelve tribes of the children of Israel:
13On the east three gates; on the north three gates; on the south three gates; and on the west three gates.
14And the wall of the city had twelve foundations, and in them the names of the twelve apostles of the Lamb.
15And he that talked with me had a golden reed to measure the city, and the gates thereof, and the wall thereof.
16And the city lieth foursquare, and the length is as large as the breadth: and he measured the city with the reed, twelve thousand furlongs. The length and the breadth and the height of it are equal.
17And he measured the wall thereof, an hundred and forty and four cubits, according to the measure of a man, that is, of the angel.
18And the building of the wall of it was of jasper: and the city was pure gold, like unto clear glass.
19And the foundations of the wall of the city were garnished with all manner of precious stones. The first foundation was jasper; the second, sapphire; the third, a chalcedony; the fourth, an emerald;
20The fifth, sardonyx; the sixth, sardius; the seventh, chrysolyte; the eighth, beryl; the ninth, a topaz; the tenth, a chrysoprasus; the eleventh, a jacinth; the twelfth, an amethyst.
21And the twelve gates were twelve pearls: every several gate was of one pearl: and the street of the city was pure gold, as it were transparent glass.
22And I saw no temple therein: for the Lord God Almighty and the Lamb are the temple of it.
23And the city had no need of the sun, neither of the moon, to shine in it: for the glory of God did lighten it, and the Lamb is the light thereof.
24And the nations of them which are saved shall walk in the light of it: and the kings of the earth do bring their glory and honour into it.
25And the gates of it shall not be shut at all by day: for there shall be no night there.
26And they shall bring the glory and honour of the nations into it.
27And there shall in no wise enter into it any thing that defileth, neither whatsoever worketh abomination, or maketh a lie: but they which are written in the Lamb's book of life.
Wednesday, November 17, 2010
A #Society *I* like to #Imagine - #Hope & #Change - #Survival
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A society in which most of us pay NO utility bills. One in which most of us grow our own healthy produce and perhaps a co-op of local farmers and others for meat. We are, after all, carnivores ;)
A well means no water bill. A septic tank means no sewer bill. Both mean no more mysterious 'customer charge' of $20.00 on each, many times totaling more than 50% of the bill!
When we questioned our water company about this rather vague charge that appears twice on our bill, once for water and again for sewer, their immediate response was "We are allowed to charge that by law." If you get a well and a septic tank you can let them 'legally charge' some other fool for their over-priced commodity.
Gas and or heating oil is just as easy. Heat with wood harvested from your own land.
There was a time in my past that I was in dire financial 'need'. One year our furnace gave up the ghost, was too dangerous to use. At the time we simply could not afford to repair or replace it. We went through an entire, quite cold, winter heating with only a fireplace and space heaters.
The gas company sent us a bill for over $1,000.00 in 'estimated' usage since our meter was obviously 'out of order'. This after they had already replaced the meter. We explained to them that we had not used the furnace all winter. They refused to believe us! Claiming that no one could possibly survive the winter without buying their precious commodity. It took weeks and I can't remember how many different people we talked to before we finally convinced them to cancel, or at least adequately reduce the bill minus the use of the furnace. Go wood heat and presto, no gas bill.
Electricity is a no brainer. Go state of the art solar. Sell your excess generation to the electric company. Let them pay you rather than the other way around..
A society in which people grow their own healthy fruits and vegetables, herbs and spices. Again, excess can be shared with family and friends or sold in markets. It provides local food stability and sustainability. All very 'green' and 'organic'.
A society in which community businesses provide for our needs rather than multinational corporations. Local community businesses run by the people we go to church with and sometimes watch porn with LMAO
In a society where these things are the norm, where self-reliance matters, the out of touch greedy corrupt politicians and CEOs in charge of our fraudulent economy would simply fade away.. There would no longer be a need for them.. All we must do is ignore them, starve them of of the one thing that means more to them than any other thing on the planet.. M-O-N-E-Y and they will collapse under their own weight, vanish and leave us TF alone..
We need to grow up America.. evolve..
Thanks for putting up with me guys and gals alike ;)
---
Here is a great resource to get you thinking about what life could be like..
The Well-Fed Neighbor Alliance, LTD is an alliance of individuals dedicated to the re-localization of our food supply, our fuel supply and our economy. The Well-Fed Neighbor Alliance, LTD, represents an unavoidable vision, plan and timetable for local sustainability. The Alliance owes no allegiance to any political party, religion, or belief system. Rather, the Alliance is open to all as long as their vision, mission and actions are peaceful, non-violent and aligned with that of the Alliance.
Grow Local! Buy Local! Eat Local!
Greg
A society in which most of us pay NO utility bills. One in which most of us grow our own healthy produce and perhaps a co-op of local farmers and others for meat. We are, after all, carnivores ;)
A well means no water bill. A septic tank means no sewer bill. Both mean no more mysterious 'customer charge' of $20.00 on each, many times totaling more than 50% of the bill!
When we questioned our water company about this rather vague charge that appears twice on our bill, once for water and again for sewer, their immediate response was "We are allowed to charge that by law." If you get a well and a septic tank you can let them 'legally charge' some other fool for their over-priced commodity.
Gas and or heating oil is just as easy. Heat with wood harvested from your own land.
There was a time in my past that I was in dire financial 'need'. One year our furnace gave up the ghost, was too dangerous to use. At the time we simply could not afford to repair or replace it. We went through an entire, quite cold, winter heating with only a fireplace and space heaters.
The gas company sent us a bill for over $1,000.00 in 'estimated' usage since our meter was obviously 'out of order'. This after they had already replaced the meter. We explained to them that we had not used the furnace all winter. They refused to believe us! Claiming that no one could possibly survive the winter without buying their precious commodity. It took weeks and I can't remember how many different people we talked to before we finally convinced them to cancel, or at least adequately reduce the bill minus the use of the furnace. Go wood heat and presto, no gas bill.
Electricity is a no brainer. Go state of the art solar. Sell your excess generation to the electric company. Let them pay you rather than the other way around..
A society in which people grow their own healthy fruits and vegetables, herbs and spices. Again, excess can be shared with family and friends or sold in markets. It provides local food stability and sustainability. All very 'green' and 'organic'.
A society in which community businesses provide for our needs rather than multinational corporations. Local community businesses run by the people we go to church with and sometimes watch porn with LMAO
In a society where these things are the norm, where self-reliance matters, the out of touch greedy corrupt politicians and CEOs in charge of our fraudulent economy would simply fade away.. There would no longer be a need for them.. All we must do is ignore them, starve them of of the one thing that means more to them than any other thing on the planet.. M-O-N-E-Y and they will collapse under their own weight, vanish and leave us TF alone..
We need to grow up America.. evolve..
Thanks for putting up with me guys and gals alike ;)
---
Here is a great resource to get you thinking about what life could be like..
The Well-Fed Neighbor Alliance, LTD is an alliance of individuals dedicated to the re-localization of our food supply, our fuel supply and our economy. The Well-Fed Neighbor Alliance, LTD, represents an unavoidable vision, plan and timetable for local sustainability. The Alliance owes no allegiance to any political party, religion, or belief system. Rather, the Alliance is open to all as long as their vision, mission and actions are peaceful, non-violent and aligned with that of the Alliance.
Grow Local! Buy Local! Eat Local!
Greg
Tuesday, November 16, 2010
Prohibition of #Market #Manipulation and Disruptive #Trading Practices By: Bix Weir
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If you prefer you may click here for the source of this post on SilverSeek.com
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-- Posted 25 October, 2010
OCTOBER 24, 2010
U.S. Commodity Futures Trading Commissioners
3 Lafayette Centre
1155 21st St. NW
Washington, DC 20581
Re: Meeting on Prohibition of Market Manipulation and Disruptive Trading Practices
CFTC Commissioners:
On Tuesday, October 26, 2010, the CFTC will hold a meeting on proposed rules under the Dodd-Frank Act. (http://www.cftc.gov/PressRoom/PressReleases/pr5926-10.html) The first item on the posted agenda is the Prohibition of Market Manipulation and Disruptive Trading Practices. I would like to submit the following comment into the official record.
This proposed rule is at the heart of the current financial crisis and has the ability, if properly constructed and implemented regardless of all other new rules adopted, to end the ongoing rampant corruption in our global monetary system.
The financial crisis we find ourselves entangled in today did not manifest itself from a freely traded market but rather it arose from illegal market manipulation and disruptive trading practices. Although the mainstream news media is very quick to blame "speculators" or "bubble mentality" or "greed" as the culprits for all our woes, that is not the real story. There is plenty of room for all those in a free and open market and, as a matter of fact, they are very important parts of free markets.
The cause of this crisis sprang from the corruption and power at the very top of our financial and political hierarchy. It's the large banks and corporations that use and abuse the markets to make once free markets dance to their will. It is the computer market riggers at Federal Reserve Bank of New York, under the guise of "national security", with their "Primary Dealer" banks running their manipulation game plan while at the same time lining their own pockets. It is the people who pull the strings of our politicians, all the way up to the President, that manipulate our markets, our governments and our lives to suit their agenda.
If the CFTC is SERIOUS about ENDING market manipulation and disruptive trading practices then you must remove the tools utilized by those who pull the strings. Pull no punches and take no prisoners.
Here are some of my suggestions for ENDING the manipulation and disruptive trading practices that go on EVERYDAY in the gold and silver markets:
1) Limit Individual Trading Volumes - Metal futures and options trade in GIGANTIC volumes everyday mostly generated from a hand full of large players trading high volumes back and forth to control the prices. Often these trading volumes are used to whipsaw the prices of the underlying metals in attempts to deliberately "sucker in" or "shake out" weak hands. This has to be stopped. Here is an example of a 5 minute COMEX trading manipulation I wrote about recently:
Nuts & Bolts of COMEX Silver Manipulation
http://www.roadtoroota.com/public/367.cfm
Clearly there was market manipulation afoot here but this is just a SMALL example. This same technique is performed on much, much larger scales. This can be stopped by placing limits on individual trading volumes such that larger players cannot place large blocks of orders for manipulative purposes.
There should be significant limits and rules around these areas:
- Limits to the size of trades by contract and value
- Time frame parameters for large volume trading
- Full public reporting on all trades placed with time executed
- Waiting periods to REVERSE positions after executing a large trade
- Require CFTC approvals for all large market transactions
Until the CFTC gets the MASSIVE TRADING VOLUMES under control there will be no stopping the manipulations.
2) Monitor and Analyze Large Price Moves - This seems like such an easy and obvious thing to do yet the CFTC seems to have trouble recognizing manipulation even though the rest of the market participants have no trouble recognizing the obvious rigging. Gold and silver prices should NOT be so volatile. Gold and silver mine production is one of the most stable variables in the entire commodity complex. It is not drastically effected by weather or OPEC or obsolescence so WHY are the prices so massively volatile UNLESS they are manipulated?
You must analyze the following issues on every large price move:
- What or who started the disruptive move
- Who were the biggest players involved in the move
- Who switched positions during the move
- Who benefited from the move
- Is there any outside justification for the move
- What were the consequences of the move
Once you answer these you'll start to understand why you received 3,000 complaints about silver market manipulation at the CFTC metals hearing last spring.
3) Stop The Collusion - It is well know that the large players in gold and silver collude to rig the markets. To deny this fact, as a market regulator, only shows that you do not understand the markets you are supposed to be regulating. The problem lies in the fact that PROVING COLLUSION is one of the hardest things to do in securities law enforcement. Usually it is only accomplished through a sting operation or with the help of a whistle blower from the inside.
WELL YOU GOT BOTH WITH THE ANDREW MCGUIRE BOMBSHELL!!!
Andrew McGuire risked his life (literally) by blowing the whistle on JP Morgan for rigging the silver market. He told you who, he told you when, he told you how and it all happened as he said, exactly when he said. This is an open and shut case..BUT YOU REFUSE TO FILE CHARGES!!!
This is NOT an isolated instance of some rogue trader (as I'm sure Blythe Masters claims). This is what THOUSANDS of market participants have been screaming about for over 10 years! It is obvious, blatant and happens repeatedly on a "free market" that is affectionately know at "THE CRIMEX".
Here's my solution to solve the difficulty in proving collusion: OFFER SUBSTANTIAL, GET RICH TYPE, REWARDS TO BONAFIDE WHISTLE BLOWERS.
And then you should DO YOUR JOB when they come forward.
3) Conflicts of Interest - One of the most glaringly obvious TOOLS for market manipulation is the storing and recording of gold and silver by the large market participants. Investors that analyze these markets study the availability of physical metal to help them make educated decisions on supply and demand factors. The two largest known storage platforms are in the COMEX Approved Warehouses and at the gold and silver ETF's.
If you analyze the OWNERSHIP of the four COMEX approved warehouses they are dominated by some of the same large bullion trading banks. HSBC, Scotia Mocotta, Bank of America, etc. many of whom are knee deep in the allegations of manipulation of gold and silver. Many people are perplexed by the movement (or lack thereof) of physical metal that is reported to go in and out of the COMEX warehouses. The problem is that there are no guidelines, rules or regulations that these warehouse controllers are required to follow so there is nothing to stop them from using and distorting this insider information when trading for their own book. I discuss this issue here:
When the Music Stops...Who's Got The Silver?
http://www.roadtoroota.com/public/146.cfm
If you REALLY want to end market manipulation you should require that all "OFFICIAL" COMEX warehouses NOT be owned or controlled by the large market participants in those markets.
Now to the real problem. The ETF metal storage "custodians" are the very same entities that dominate the short side of gold and silver. I know of NO JUSTIFICATION for these two very conflicting positions to be allowed to occur as both JP Morgan and HSBC are only "Custodians" of the SLV and GLD metal... NOT the legal owners!
It is understood by most investors that the ETFs are NOT meant to be any type of claim to the underlying physical metal but does that give these two SHORT GORILLAS any excuse for their short positions to be JUSTIFIED by their Custodianship position in GLD and SLV? They are just the "custodians" of this metal and NOT the sole legal owners so for them to claim that this is their metal to hedge as they wish is farfetched at best.
I have repeatedly pointed out this problem to the CFTC yet you have refused to stop this practice:
Physical Metal Hedging & Metal ETFs
http://www.roadtoroota.com/public/225.cfm
Unfortunately, it looks like the CFTC plans to continue to allow JP Morgan and HSBC to use this metal to support their truly naked short position based on this rule proposal:
http://www.cftc.gov/LawRegulation/FederalRegister/ProposedRules/2010-24586.html
IF this is how the CFTC plans to ensure that we can have markets free from manipulation you are making your job MUCH, MUCH more difficult than it has to be. If you continue to allow this practice YOU'D BETTER SEND IN THE "TRUTH SQUAD" TO DRILL AND VERIFY EVERY SINGLE BAR OF .999 METAL THEY CLAIM TO OWN.
Otherwise you're just kidding yourselves and plan on NOT assuring free markets in the future.
4) Computer Trading Manipulation - I'm gonna just come out and say it...THERE CAN BE NO FREE MARKETS WHEN COMPUTER TRADING IS INVOLVED. Full stop. Computer trading must be outlawed as it distorts markets more than any other tool. For those who think that computers are necessary in markets I'd have to call your bluff. Free and open markets have been around for thousands of years where as computer market trading has only been around for a few decades. Sure, use computers to store records and account for positions but actively trading on computer algorithms with millions of transactions at the speed of light? NO WAY!!! It serves no productive purpose in a free and open market.
If you want free markets again… THEN SHUT OFF THE COMPUTERS!
I hope this helps you frame any rules and regulations you might be considering to end market manipulation and disruptive trading practices. Call me crazy but I am still, after all these years, a believer in the potential of the CFTC to bring free markets back to America.
The CFTC is now charge of structuring our new future...please do it wisely.
Bix Weir
Sign up for free updates at www.RoadtoRoota.com
If you prefer you may click here for the source of this post on SilverSeek.com
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-- Posted 25 October, 2010
OCTOBER 24, 2010
U.S. Commodity Futures Trading Commissioners
3 Lafayette Centre
1155 21st St. NW
Washington, DC 20581
Re: Meeting on Prohibition of Market Manipulation and Disruptive Trading Practices
CFTC Commissioners:
On Tuesday, October 26, 2010, the CFTC will hold a meeting on proposed rules under the Dodd-Frank Act. (http://www.cftc.gov/PressRoom/PressReleases/pr5926-10.html) The first item on the posted agenda is the Prohibition of Market Manipulation and Disruptive Trading Practices. I would like to submit the following comment into the official record.
This proposed rule is at the heart of the current financial crisis and has the ability, if properly constructed and implemented regardless of all other new rules adopted, to end the ongoing rampant corruption in our global monetary system.
The financial crisis we find ourselves entangled in today did not manifest itself from a freely traded market but rather it arose from illegal market manipulation and disruptive trading practices. Although the mainstream news media is very quick to blame "speculators" or "bubble mentality" or "greed" as the culprits for all our woes, that is not the real story. There is plenty of room for all those in a free and open market and, as a matter of fact, they are very important parts of free markets.
The cause of this crisis sprang from the corruption and power at the very top of our financial and political hierarchy. It's the large banks and corporations that use and abuse the markets to make once free markets dance to their will. It is the computer market riggers at Federal Reserve Bank of New York, under the guise of "national security", with their "Primary Dealer" banks running their manipulation game plan while at the same time lining their own pockets. It is the people who pull the strings of our politicians, all the way up to the President, that manipulate our markets, our governments and our lives to suit their agenda.
If the CFTC is SERIOUS about ENDING market manipulation and disruptive trading practices then you must remove the tools utilized by those who pull the strings. Pull no punches and take no prisoners.
Here are some of my suggestions for ENDING the manipulation and disruptive trading practices that go on EVERYDAY in the gold and silver markets:
1) Limit Individual Trading Volumes - Metal futures and options trade in GIGANTIC volumes everyday mostly generated from a hand full of large players trading high volumes back and forth to control the prices. Often these trading volumes are used to whipsaw the prices of the underlying metals in attempts to deliberately "sucker in" or "shake out" weak hands. This has to be stopped. Here is an example of a 5 minute COMEX trading manipulation I wrote about recently:
Nuts & Bolts of COMEX Silver Manipulation
http://www.roadtoroota.com/public/367.cfm
Clearly there was market manipulation afoot here but this is just a SMALL example. This same technique is performed on much, much larger scales. This can be stopped by placing limits on individual trading volumes such that larger players cannot place large blocks of orders for manipulative purposes.
There should be significant limits and rules around these areas:
- Limits to the size of trades by contract and value
- Time frame parameters for large volume trading
- Full public reporting on all trades placed with time executed
- Waiting periods to REVERSE positions after executing a large trade
- Require CFTC approvals for all large market transactions
Until the CFTC gets the MASSIVE TRADING VOLUMES under control there will be no stopping the manipulations.
2) Monitor and Analyze Large Price Moves - This seems like such an easy and obvious thing to do yet the CFTC seems to have trouble recognizing manipulation even though the rest of the market participants have no trouble recognizing the obvious rigging. Gold and silver prices should NOT be so volatile. Gold and silver mine production is one of the most stable variables in the entire commodity complex. It is not drastically effected by weather or OPEC or obsolescence so WHY are the prices so massively volatile UNLESS they are manipulated?
You must analyze the following issues on every large price move:
- What or who started the disruptive move
- Who were the biggest players involved in the move
- Who switched positions during the move
- Who benefited from the move
- Is there any outside justification for the move
- What were the consequences of the move
Once you answer these you'll start to understand why you received 3,000 complaints about silver market manipulation at the CFTC metals hearing last spring.
3) Stop The Collusion - It is well know that the large players in gold and silver collude to rig the markets. To deny this fact, as a market regulator, only shows that you do not understand the markets you are supposed to be regulating. The problem lies in the fact that PROVING COLLUSION is one of the hardest things to do in securities law enforcement. Usually it is only accomplished through a sting operation or with the help of a whistle blower from the inside.
WELL YOU GOT BOTH WITH THE ANDREW MCGUIRE BOMBSHELL!!!
Andrew McGuire risked his life (literally) by blowing the whistle on JP Morgan for rigging the silver market. He told you who, he told you when, he told you how and it all happened as he said, exactly when he said. This is an open and shut case..BUT YOU REFUSE TO FILE CHARGES!!!
This is NOT an isolated instance of some rogue trader (as I'm sure Blythe Masters claims). This is what THOUSANDS of market participants have been screaming about for over 10 years! It is obvious, blatant and happens repeatedly on a "free market" that is affectionately know at "THE CRIMEX".
Here's my solution to solve the difficulty in proving collusion: OFFER SUBSTANTIAL, GET RICH TYPE, REWARDS TO BONAFIDE WHISTLE BLOWERS.
And then you should DO YOUR JOB when they come forward.
3) Conflicts of Interest - One of the most glaringly obvious TOOLS for market manipulation is the storing and recording of gold and silver by the large market participants. Investors that analyze these markets study the availability of physical metal to help them make educated decisions on supply and demand factors. The two largest known storage platforms are in the COMEX Approved Warehouses and at the gold and silver ETF's.
If you analyze the OWNERSHIP of the four COMEX approved warehouses they are dominated by some of the same large bullion trading banks. HSBC, Scotia Mocotta, Bank of America, etc. many of whom are knee deep in the allegations of manipulation of gold and silver. Many people are perplexed by the movement (or lack thereof) of physical metal that is reported to go in and out of the COMEX warehouses. The problem is that there are no guidelines, rules or regulations that these warehouse controllers are required to follow so there is nothing to stop them from using and distorting this insider information when trading for their own book. I discuss this issue here:
When the Music Stops...Who's Got The Silver?
http://www.roadtoroota.com/public/146.cfm
If you REALLY want to end market manipulation you should require that all "OFFICIAL" COMEX warehouses NOT be owned or controlled by the large market participants in those markets.
Now to the real problem. The ETF metal storage "custodians" are the very same entities that dominate the short side of gold and silver. I know of NO JUSTIFICATION for these two very conflicting positions to be allowed to occur as both JP Morgan and HSBC are only "Custodians" of the SLV and GLD metal... NOT the legal owners!
It is understood by most investors that the ETFs are NOT meant to be any type of claim to the underlying physical metal but does that give these two SHORT GORILLAS any excuse for their short positions to be JUSTIFIED by their Custodianship position in GLD and SLV? They are just the "custodians" of this metal and NOT the sole legal owners so for them to claim that this is their metal to hedge as they wish is farfetched at best.
I have repeatedly pointed out this problem to the CFTC yet you have refused to stop this practice:
Physical Metal Hedging & Metal ETFs
http://www.roadtoroota.com/public/225.cfm
Unfortunately, it looks like the CFTC plans to continue to allow JP Morgan and HSBC to use this metal to support their truly naked short position based on this rule proposal:
http://www.cftc.gov/LawRegulation/FederalRegister/ProposedRules/2010-24586.html
IF this is how the CFTC plans to ensure that we can have markets free from manipulation you are making your job MUCH, MUCH more difficult than it has to be. If you continue to allow this practice YOU'D BETTER SEND IN THE "TRUTH SQUAD" TO DRILL AND VERIFY EVERY SINGLE BAR OF .999 METAL THEY CLAIM TO OWN.
Otherwise you're just kidding yourselves and plan on NOT assuring free markets in the future.
4) Computer Trading Manipulation - I'm gonna just come out and say it...THERE CAN BE NO FREE MARKETS WHEN COMPUTER TRADING IS INVOLVED. Full stop. Computer trading must be outlawed as it distorts markets more than any other tool. For those who think that computers are necessary in markets I'd have to call your bluff. Free and open markets have been around for thousands of years where as computer market trading has only been around for a few decades. Sure, use computers to store records and account for positions but actively trading on computer algorithms with millions of transactions at the speed of light? NO WAY!!! It serves no productive purpose in a free and open market.
If you want free markets again… THEN SHUT OFF THE COMPUTERS!
I hope this helps you frame any rules and regulations you might be considering to end market manipulation and disruptive trading practices. Call me crazy but I am still, after all these years, a believer in the potential of the CFTC to bring free markets back to America.
The CFTC is now charge of structuring our new future...please do it wisely.
Bix Weir
Sign up for free updates at www.RoadtoRoota.com
Saturday, November 13, 2010
Letter to a Friend on WTF is going on
---
I'll give you a brief rundown on how I, personally, perceive the current situation. Of course there is much more I have to say but here is something of a summary..
I think nearly everything in this so-called economy is at least 6 times more expensive than it should be. An important part of capitalism, a self checking self correcting 'feature' of our economic system is deflation. As painful as deflation and a severe depression would be for everyone in this country that makes it no less a part of capitalism.
However, our government, politicians, Federal Reserve Bank, banks and multinational corporations all face certain extinction if such an event were to occur.
All these groups are hopelessly addicted to wealth and power and the lifestyle they provide.
Thus they are determined, at ANY cost, to prevent a total economic and political collapse.
The techniques, tricks and outright lies they are using now to project an economic fantasy for the dumbed down masses is outrageous and merely a delaying tactic, IMO, buying them desperately needed time to develop and prepare well thought out and organized contingency plans for the worst case scenarios.
IMO, at the most extreme those contingency plans could include martial law, a police state or even a form of dictatorship.
IMO, the actions being taken by our government, Treasury and Federal Reserve Bank with their accomplices the primary dealers (many of them the same too big to fails) and to a large degree the multinational corporations to purposely create inflation through the intentional devaluation of our fiat currency is a horrible idea. I SEE inflation running wild in this country already! I'm seeing prices on many items, mainly food, fluctuate wildly. Prices on certain items jumping up and down 30 and even 40% in a matter of a few weeks. Commodities of all types have been skyrocketing. With as many as 22 MILLION Americans either out of work or so depressed they have stopped looking for work altogether inflation is the LAST thing we need. Defaults of all sorts will dramatically increase with inflation combined with depression level unemployment.
I don't for a moment believe the people behind this economic deception and propaganda are unintelligent. *I* believe there are motives and plans unbeknown to the 'common' people. Possibly a coming 'crisis' such as the total and complete collapse of our economy and U.S. government defaults on 'obligations'. *I* believe the last two years of propping up the economy and artificially inflating the stock markets through all sorts of illegal manipulations has only been done to buy time for elites to plan and organize how best to deal with the coming collapse. How best to retain power and control during such dire times.
I believe even civil war is a possibility..
However, why would you or anyone else for that matter 'care' what *I* think about what is going on?
What can *I* do?
I yell on twitter to anyone who will listen. I try to put a lot of information on my blog that I hope will help more people be aware of what is going on.
In this country right now if I did begin to gather a lot of interest the government could easily arrest me just to shut me up. They could simply 'make up' any accusation they wanted, plant a little 'evidence' and arrest me. It might be in a newspaper for a day or two and then be forgotten by all. Anyone in this country who might be perceived to be a threat can be quickly and easily eliminated. Who can stop that? No one..
There is a lot more I 'feel' I know.. I 'feel' God is involved in all of this and in me, whether I want that or not. I 'feel' I have a large role in all of this but God has not yet made very much clear to me. Many strange, seemingly unconnected, things have happened in the course of my life.. Things that I do not understand the meaning of fully but things that seem to be accumulating toward a specific goal of some sort.. Becoming more and more obviously linked and coordinated through time. I won't, can't, go into much detail on this..
I even think I HAVE the solution to our problems but I am a nobody in a small town in Missouri.. It seems impossible that I could have much of an effect on anything. Only opinions..
If a great majority of Americans were on the same page, cooperating and organized, issues could be effectively dealt with and in a completely non-violent manner.
All it would take is commitment NOT to use their worthless fiat currency. Don't borrow it, don't spend it, don't send it as payment to greedy corrupt creditors or insolvent banks. Just STOP participating in the debt based, debt slavery, ponzi scheme created by public criminals. I believe it really is that simple..
But, as I said, who gives a fuck what I think, say or write? Maybe 10 people who know me truly understand what I'm talking about? Maybe 100 if I'm lucky? Maybe 1,000 don't fully understand what I'm saying but like it anyway..
We need 100 MILLION..
And I just don't see it happening..
So.. we try to look out for ourselves, our families and our friends.
And I try to inform people I don't even know and warn them of the perhaps unprecedented hard times that we all may face in the not too distant future.
Greg
*I* merely put my trust and faith in God. If God has plans for my life and impact on future events I'm sure I will know about it as God sees fit.
I'll give you a brief rundown on how I, personally, perceive the current situation. Of course there is much more I have to say but here is something of a summary..
I think nearly everything in this so-called economy is at least 6 times more expensive than it should be. An important part of capitalism, a self checking self correcting 'feature' of our economic system is deflation. As painful as deflation and a severe depression would be for everyone in this country that makes it no less a part of capitalism.
However, our government, politicians, Federal Reserve Bank, banks and multinational corporations all face certain extinction if such an event were to occur.
All these groups are hopelessly addicted to wealth and power and the lifestyle they provide.
Thus they are determined, at ANY cost, to prevent a total economic and political collapse.
The techniques, tricks and outright lies they are using now to project an economic fantasy for the dumbed down masses is outrageous and merely a delaying tactic, IMO, buying them desperately needed time to develop and prepare well thought out and organized contingency plans for the worst case scenarios.
IMO, at the most extreme those contingency plans could include martial law, a police state or even a form of dictatorship.
IMO, the actions being taken by our government, Treasury and Federal Reserve Bank with their accomplices the primary dealers (many of them the same too big to fails) and to a large degree the multinational corporations to purposely create inflation through the intentional devaluation of our fiat currency is a horrible idea. I SEE inflation running wild in this country already! I'm seeing prices on many items, mainly food, fluctuate wildly. Prices on certain items jumping up and down 30 and even 40% in a matter of a few weeks. Commodities of all types have been skyrocketing. With as many as 22 MILLION Americans either out of work or so depressed they have stopped looking for work altogether inflation is the LAST thing we need. Defaults of all sorts will dramatically increase with inflation combined with depression level unemployment.
I don't for a moment believe the people behind this economic deception and propaganda are unintelligent. *I* believe there are motives and plans unbeknown to the 'common' people. Possibly a coming 'crisis' such as the total and complete collapse of our economy and U.S. government defaults on 'obligations'. *I* believe the last two years of propping up the economy and artificially inflating the stock markets through all sorts of illegal manipulations has only been done to buy time for elites to plan and organize how best to deal with the coming collapse. How best to retain power and control during such dire times.
I believe even civil war is a possibility..
However, why would you or anyone else for that matter 'care' what *I* think about what is going on?
What can *I* do?
I yell on twitter to anyone who will listen. I try to put a lot of information on my blog that I hope will help more people be aware of what is going on.
In this country right now if I did begin to gather a lot of interest the government could easily arrest me just to shut me up. They could simply 'make up' any accusation they wanted, plant a little 'evidence' and arrest me. It might be in a newspaper for a day or two and then be forgotten by all. Anyone in this country who might be perceived to be a threat can be quickly and easily eliminated. Who can stop that? No one..
There is a lot more I 'feel' I know.. I 'feel' God is involved in all of this and in me, whether I want that or not. I 'feel' I have a large role in all of this but God has not yet made very much clear to me. Many strange, seemingly unconnected, things have happened in the course of my life.. Things that I do not understand the meaning of fully but things that seem to be accumulating toward a specific goal of some sort.. Becoming more and more obviously linked and coordinated through time. I won't, can't, go into much detail on this..
I even think I HAVE the solution to our problems but I am a nobody in a small town in Missouri.. It seems impossible that I could have much of an effect on anything. Only opinions..
If a great majority of Americans were on the same page, cooperating and organized, issues could be effectively dealt with and in a completely non-violent manner.
All it would take is commitment NOT to use their worthless fiat currency. Don't borrow it, don't spend it, don't send it as payment to greedy corrupt creditors or insolvent banks. Just STOP participating in the debt based, debt slavery, ponzi scheme created by public criminals. I believe it really is that simple..
But, as I said, who gives a fuck what I think, say or write? Maybe 10 people who know me truly understand what I'm talking about? Maybe 100 if I'm lucky? Maybe 1,000 don't fully understand what I'm saying but like it anyway..
We need 100 MILLION..
And I just don't see it happening..
So.. we try to look out for ourselves, our families and our friends.
And I try to inform people I don't even know and warn them of the perhaps unprecedented hard times that we all may face in the not too distant future.
Greg
*I* merely put my trust and faith in God. If God has plans for my life and impact on future events I'm sure I will know about it as God sees fit.
Friday, November 12, 2010
Beware the future: This is a must see video IMO
---
What is going on in this country right now and what do you need to protect yourself in case things get much much worse..
Hyperinflation is a possibility due to the evil actions of our own government & Federal Reserve..
I would prefer deflation to hyperinflation
---
Please click here to watch the video 1:14
Greg
What is going on in this country right now and what do you need to protect yourself in case things get much much worse..
Hyperinflation is a possibility due to the evil actions of our own government & Federal Reserve..
I would prefer deflation to hyperinflation
---
Please click here to watch the video 1:14
Greg
Pentagon Readies New Ship-Killers for Pacific Showdown · By David Axe
---
Military Industrial Complex crap.. when are humans going to f'ing GROW UP?
I grow weary of the search for ever more expensive weapons which allow for a more effective killing of other human beings.. I just don't get it any more.. We have to have really good capabilities to kill a whole bunch of Chinese humans as fast as possible just in case they decide they want to kill off a whole bunch of American humans real fast.. Ok..
Like I said before.. freaking grow up..
Trouble is I don't really believe it is immaturity causing it.. I think it is an effective way for the United States government to pump untold hundreds of billions of dollars into the U.S. economy any time they please.. What if all the wars we are now in are merely to help prop up a shattered economy and major corporations that are in danger of collapse, through government military spending?
If you prefer you may read the source post by clicking here
---
Pentagon planners were wary of China’s double-digit military-budget growth rates even before the global economic crisis put the squeeze on America’s own defense investment. Now the Chinese army’s growth continues while America’s flat-lines. That’s got the U.S. military, especially the Navy, scrambling for new ideas.
The most hopeful is an emerging concept for mixing U.S. Navy ships and subs with Air Force planes to form a tightly-knit, super-lethal, ship-killing force meant to counter an increasingly powerful Chinese fleet. The Pentagon calls it “AirSea Battle,” an homage to NATO’s Cold War “AirLand Battle” concept that pioneered tactics for taking out thousands of Soviet tanks with smart weapons. U.S. Secretary of Defense Bob Gates called the classified AirSea Battle concept “encouraging.”
It seems AirSea Battle mostly involves better communications and command procedures for integrating ships and planes into the same task forces. But there’s at least one new piece of hardware: a new, more deadly anti-ship missile. On Wednesday, the Defense Advanced Research Projects Agency awarded Lockheed Martin a 3-year, $160 million contract to develop the Long-Range Anti-Ship Missile. The goal is for LRASM to give Navy ships “the ability to attack important enemy ships outside the ranges of the enemy’s ability to respond with anti-ship missiles of their own.”
LRASM must fit into the Navy’s existing vertical-launch cells and should rely less on “off-board” targeting — drones, planes, satellites — than current weapons. In other words, the LRASM must have its own, smart sensors. That would allow even isolated or electronically-jammed American ships to sink enemy vessels.
Darpa’s interest in ship-killing missiles represent a major sea change — or a blast from the past. Time was, 20 years ago, the Navy had a bigger arsenal of anti-ship missiles, ranging from the tiny Penguin to the mid-size Harpoon and the huge, long-range Tomahawk. Today the Tomahawk is used strictly for land-attack and only a few ships carry Harpoons.
Meanwhile, other nations have pulled ahead in ship-sinking technology. Russia, India and Japan all have new ASMs. Indeed, those weapons — particularly the Japanese XASM-3, pictured — might offer a preview of LRASM’s eventual design elements. Look for a stealthy shape, supersonic speed and several overlapping sensor types. And don’t expect it to be cheap.
#Republican boss slams the Federal Reserve #FED
---
I thought this was a great piece..
If you prefer you may click here to read the source post from pogoprinciple.wordpress.com..
---
While Rand Paul will have a few months to hide in the Senate cloakroom before he absolutely has to put his money where his mouth is, and shut Washington down — or sprain his lips trying to filibuster America’s public debt manufacturers into an early retirement — Representative Cathy McMorris Rodgers (R. Wa.), vice chair of the House Republican Conference, has called out the Bernanke Bankster Mafia Krewe at the Federal Reserve. While much of the specifics in the statement make us laugh — for instance, the following:
As a believer in the free enterprise system, I believe the best thing the federal government can do to spark our economic recovery is to create a favorable climate for small-business owners to expand and create jobs.
– she nevertheless, appears fully prepared to aim her tea cup at the swollen head of Mr. Bernanke, and, thus, earns our notice. With Rand Paul’s dad, Representative Ron Paul now set to chair the monetary policy subcommittee in the House, things just might be getting a little interesting along the corridors of that Whore House of Washington D.C.
(And, yes. We know they are all right-wing-nuts. But, that is what makes it so interesting: watching all the defenders of property, handcuffed together, in blindfolds, and going at it with kitchen knives!)
Full statement from Rodgers:
As a believer in the free enterprise system, I believe the best thing the federal government can do to spark our economic recovery is to create a favorable climate for small-business owners to expand and create jobs. Such a climate must include a lower tax burden, reasonable regulations, less public borrowing, open markets and a sound currency. For the past year and a half, the Obama administration has followed the opposite policies–going on a tax, spend and borrow binge of historic proportions–and the results, including the loss of three million private sector jobs, have been tragic.
But while the failure of President Obama’s fiscal policies are evident and well-known, less attention has been paid to the failure of the Federal Reserve’s monetary policies–specifically, its easy money program that enables the administration’s spend-and-borrow addiction. I believe reversing the Fed’s policy is essential to getting our economy back on track.
Since 2008 the Fed has kept short-term interest rates at nearly 0% and bought about $1.4 trillion in mortgage-linked securities and debts. The main reason for these policies is to stimulate borrowing in the private sector, including–whenever necessary–shifting the cost of toxic assets from Wall Street to the taxpayer. This hasn’t worked, however. In the second quarter of 2010, for instance, bank lending dropped by $96 billion, even while bank profits surged by $22 billion. This seems counterintuitive, but there’s a strange logic to it: With the private sector engulfed in so much uncertainty because of the government’s spending, borrowing, and bailouts, banks are reducing credit to businesses, while increasing their purchase of government debt. The banks take in low-cost funds from the Fed and then lend it back to the government at a higher rate. This produces a small profit that–when done on a large enough scale–can become quite lucrative, indeed.
Because of this distortion, the Fed’s low interest rates make it harder–not easier–for the private sector to get credit. Meanwhile, savers and investors–ordinary citizens who are building their nest egg for retirement–are getting little return on their money. Banks are paying 0.97% interest to their depositors–the lowest level since at least 1984, when the FDIC started keeping records. The question is, why is the Fed taking this path which seems so destructive?
This is where things get interesting. As I mentioned earlier, the Fed’s low-interest rate policy does have a clear benefactor: the federal government. In the past two years, Washington D.C.’s appetite for borrowing has grown enormously. Since President Obama took office in January 2009, he has borrowed $2.6 trillion and he expects the government to borrow another $10 trillion over the next ten years. Keeping the costs of that borrowing down isn’t just a luxury; it’s a necessity. That’s where the Fed comes in. By keeping interest rates low, it encourages banks to lend to the government, even at the expense of the private sector.
After all–from the bank’s perspective–Treasuries are “safe” while the private sector–overburdened with higher taxes starting Jan. 1, new health care mandates, and the potential costs of cap and trade is “risky.” A flood of money is pouring into Washington. But how much longer can that continue?
Think about it: In the immediate aftermath of the 2001 recession, the Fed kept interest rates extremely low for several years to “prime the pump” of the U.S. economy. But what some call “pump priming” others call “easy money.” And a lot of that “easy money” was dumped into housing which was considered “safe” (after all, housing prices “always” go up). When the housing bubble burst in 2007, it had devastating effects–effects we’re still grappling with today. Today, Treasuries are considered “safe” even while others worry about a “Treasury Bubble.” As we saw this year in Greece and the European Union, the idea that government debt is “safe” is illusory, and the shift from euphoria to fear–as people grow concerned about the government’s ability to pay back their debts–can happen in the blink of an eye. Knowing that, the Fed’s policy to make it easier for Washington to borrow money–$5 billion per day, over $1 trillion per year–seems dangerous, at best; reckless, at worst.
To grow our economy, we need a fiscal and monetary policy that encourages saving and investment; not spending and borrowing. The Fed can do its part by bringing interest rates closer to their historical average and stopping its plan–approved on Aug. 10–to purchase long-term Treasury securities. Congress and the White House can do its part by implementing a series of tax reforms to encourage savings and investment. For starters, we should extend the tax cuts of 2001 and 2003 which are set to expire in about 100 days. Then we should undertake more comprehensive reforms. I’ve signed onto legislation introduced by Rep. Jim Jordan, R-Ohio, and Rep. Jason Chaffetz, R-Utah, The Economic Freedom Act, which would cut the Payroll Tax in half, eliminate the Capital Gains Tax, reduce the Corporate Tax Rate to 12.5%, provide immediate business expensing, and give the death penalty to the death tax. When taken together, these policies will create a favorable climate for businesses to grow, innovate, and create jobs.
No country in history became rich by overspending and borrowing; the key to growth has always been savings and investment. Let’s renew our commitment–painfully absent over the past two years–to encourage the most fundamental American virtues–savings and investment–and discourage the vices that have mired us in stagnation: overspending and debt. We can do better, we must do better, and we need to do it now.
I thought this was a great piece..
If you prefer you may click here to read the source post from pogoprinciple.wordpress.com..
---
While Rand Paul will have a few months to hide in the Senate cloakroom before he absolutely has to put his money where his mouth is, and shut Washington down — or sprain his lips trying to filibuster America’s public debt manufacturers into an early retirement — Representative Cathy McMorris Rodgers (R. Wa.), vice chair of the House Republican Conference, has called out the Bernanke Bankster Mafia Krewe at the Federal Reserve. While much of the specifics in the statement make us laugh — for instance, the following:
As a believer in the free enterprise system, I believe the best thing the federal government can do to spark our economic recovery is to create a favorable climate for small-business owners to expand and create jobs.
– she nevertheless, appears fully prepared to aim her tea cup at the swollen head of Mr. Bernanke, and, thus, earns our notice. With Rand Paul’s dad, Representative Ron Paul now set to chair the monetary policy subcommittee in the House, things just might be getting a little interesting along the corridors of that Whore House of Washington D.C.
(And, yes. We know they are all right-wing-nuts. But, that is what makes it so interesting: watching all the defenders of property, handcuffed together, in blindfolds, and going at it with kitchen knives!)
Full statement from Rodgers:
As a believer in the free enterprise system, I believe the best thing the federal government can do to spark our economic recovery is to create a favorable climate for small-business owners to expand and create jobs. Such a climate must include a lower tax burden, reasonable regulations, less public borrowing, open markets and a sound currency. For the past year and a half, the Obama administration has followed the opposite policies–going on a tax, spend and borrow binge of historic proportions–and the results, including the loss of three million private sector jobs, have been tragic.
But while the failure of President Obama’s fiscal policies are evident and well-known, less attention has been paid to the failure of the Federal Reserve’s monetary policies–specifically, its easy money program that enables the administration’s spend-and-borrow addiction. I believe reversing the Fed’s policy is essential to getting our economy back on track.
Since 2008 the Fed has kept short-term interest rates at nearly 0% and bought about $1.4 trillion in mortgage-linked securities and debts. The main reason for these policies is to stimulate borrowing in the private sector, including–whenever necessary–shifting the cost of toxic assets from Wall Street to the taxpayer. This hasn’t worked, however. In the second quarter of 2010, for instance, bank lending dropped by $96 billion, even while bank profits surged by $22 billion. This seems counterintuitive, but there’s a strange logic to it: With the private sector engulfed in so much uncertainty because of the government’s spending, borrowing, and bailouts, banks are reducing credit to businesses, while increasing their purchase of government debt. The banks take in low-cost funds from the Fed and then lend it back to the government at a higher rate. This produces a small profit that–when done on a large enough scale–can become quite lucrative, indeed.
Because of this distortion, the Fed’s low interest rates make it harder–not easier–for the private sector to get credit. Meanwhile, savers and investors–ordinary citizens who are building their nest egg for retirement–are getting little return on their money. Banks are paying 0.97% interest to their depositors–the lowest level since at least 1984, when the FDIC started keeping records. The question is, why is the Fed taking this path which seems so destructive?
This is where things get interesting. As I mentioned earlier, the Fed’s low-interest rate policy does have a clear benefactor: the federal government. In the past two years, Washington D.C.’s appetite for borrowing has grown enormously. Since President Obama took office in January 2009, he has borrowed $2.6 trillion and he expects the government to borrow another $10 trillion over the next ten years. Keeping the costs of that borrowing down isn’t just a luxury; it’s a necessity. That’s where the Fed comes in. By keeping interest rates low, it encourages banks to lend to the government, even at the expense of the private sector.
After all–from the bank’s perspective–Treasuries are “safe” while the private sector–overburdened with higher taxes starting Jan. 1, new health care mandates, and the potential costs of cap and trade is “risky.” A flood of money is pouring into Washington. But how much longer can that continue?
Think about it: In the immediate aftermath of the 2001 recession, the Fed kept interest rates extremely low for several years to “prime the pump” of the U.S. economy. But what some call “pump priming” others call “easy money.” And a lot of that “easy money” was dumped into housing which was considered “safe” (after all, housing prices “always” go up). When the housing bubble burst in 2007, it had devastating effects–effects we’re still grappling with today. Today, Treasuries are considered “safe” even while others worry about a “Treasury Bubble.” As we saw this year in Greece and the European Union, the idea that government debt is “safe” is illusory, and the shift from euphoria to fear–as people grow concerned about the government’s ability to pay back their debts–can happen in the blink of an eye. Knowing that, the Fed’s policy to make it easier for Washington to borrow money–$5 billion per day, over $1 trillion per year–seems dangerous, at best; reckless, at worst.
To grow our economy, we need a fiscal and monetary policy that encourages saving and investment; not spending and borrowing. The Fed can do its part by bringing interest rates closer to their historical average and stopping its plan–approved on Aug. 10–to purchase long-term Treasury securities. Congress and the White House can do its part by implementing a series of tax reforms to encourage savings and investment. For starters, we should extend the tax cuts of 2001 and 2003 which are set to expire in about 100 days. Then we should undertake more comprehensive reforms. I’ve signed onto legislation introduced by Rep. Jim Jordan, R-Ohio, and Rep. Jason Chaffetz, R-Utah, The Economic Freedom Act, which would cut the Payroll Tax in half, eliminate the Capital Gains Tax, reduce the Corporate Tax Rate to 12.5%, provide immediate business expensing, and give the death penalty to the death tax. When taken together, these policies will create a favorable climate for businesses to grow, innovate, and create jobs.
No country in history became rich by overspending and borrowing; the key to growth has always been savings and investment. Let’s renew our commitment–painfully absent over the past two years–to encourage the most fundamental American virtues–savings and investment–and discourage the vices that have mired us in stagnation: overspending and debt. We can do better, we must do better, and we need to do it now.
Thursday, November 11, 2010
Jeremy Grantham: "The #Fed Has Spent The Last 20 Years #Manipulating The #Stock #Market" via @zerohedge
---
All credit to @zerohedge for working so hard to get the truth out there..
Please click here to view the this important post and video on Zero Hedge
---
Thank you Zero Hedge!
Greg
All credit to @zerohedge for working so hard to get the truth out there..
Please click here to view the this important post and video on Zero Hedge
---
Thank you Zero Hedge!
Greg
Wednesday, November 10, 2010
The 2012 NWO Agenda 10/12 ~ Warning America!!
---
I hope you will take the time to watch this 11 minute video.. Life is about much more than video games and the mall.. Please try to be aware of and ready for the possibility of rapid massive changes in what America is and what it stands for.
History ALWAYS has its strange twists and turns.. Even in America..
---
The 2012 NWO Agenda 10/12 ~ Warning America!
Greg
I hope you will take the time to watch this 11 minute video.. Life is about much more than video games and the mall.. Please try to be aware of and ready for the possibility of rapid massive changes in what America is and what it stands for.
History ALWAYS has its strange twists and turns.. Even in America..
---
The 2012 NWO Agenda 10/12 ~ Warning America!
Greg
Beware #republicans Great friends of #banks #insurance #oil #pharma
---
These two articles point out the ensuing battle to come as newly elected republican "leaders" strive to severely water down if not completely dismantle the Frank-Dodd financial reform bill..
Democrats sold this bill as clamping down on unfair business practices of banks and as a way to curtail their dangerous derivatives trading and also to put in place stronger consumer protections..
Republicans fear the new law will weaken the banks ability to make money and therefore damage the economy and cost even more jobs..
Who are we to believe is working in OUR best interests? It's a tough call I guess since the majority of politicians in BOTH parties are greedy, corrupt and in the pockets of many special interest groups. Especially in the areas of finance/banking and insurance/health care not to mention energy/oil, unions, multinational corporations and God only knows who else..
Anyone who thinks the republican victory in the November election was the answer to our collective problems of greed and corruption in Washington is sorely mistaken in my opinion..
Please check the two articles below to get the flavor of what is now being said about the financial reform bill..
I don't recall republicans mentioning financial regulation reform much during their campaigns but as soon as they got a little power it sure seems they are in a big hurry to rush in and help out those poor banks..
You know, the zombie banks that went bankrupt in 2008 and remain insolvent today? And even while they are still bankrupt and insolvent they have no qualms whatsoever about throwing American citizens from their homes out into the streets, taking away their cars and laughing at their requests for credit..
In my opinion this economic episode will never be over until the too big to fail banks get what is coming to them.. right where the sun don't shine.. However, I do NOT expect the newly elected republicans to be on the same page with me there.. In my opinion the republicans will be MUCH friendlier toward the usurious banks, retailers and corporations while doing everything in their power to keep commodity costs high to support their friends in energy and continue, as obama has, to find new innovative ways to continually pump more money in to the coffers of insurance companies, the health care industry, the pharmaceutical companies, the military.. You get the idea.. It seems no matter which party runs government all we ever get is more government and more government spending..
All that without even mentioning the Federal Reserve Bank.. Republicans, in my opinion, will do everything in their power to protect the FED from any scrutiny, transparency or accountability.. We'll see I guess..
---
J.P. Morgan Memo: GOP Will Slow Down FinReg
Newly-Empowered House Republicans Take Aim at Dodd-Frank Financial Reform Bill
Greg
These two articles point out the ensuing battle to come as newly elected republican "leaders" strive to severely water down if not completely dismantle the Frank-Dodd financial reform bill..
Democrats sold this bill as clamping down on unfair business practices of banks and as a way to curtail their dangerous derivatives trading and also to put in place stronger consumer protections..
Republicans fear the new law will weaken the banks ability to make money and therefore damage the economy and cost even more jobs..
Who are we to believe is working in OUR best interests? It's a tough call I guess since the majority of politicians in BOTH parties are greedy, corrupt and in the pockets of many special interest groups. Especially in the areas of finance/banking and insurance/health care not to mention energy/oil, unions, multinational corporations and God only knows who else..
Anyone who thinks the republican victory in the November election was the answer to our collective problems of greed and corruption in Washington is sorely mistaken in my opinion..
Please check the two articles below to get the flavor of what is now being said about the financial reform bill..
I don't recall republicans mentioning financial regulation reform much during their campaigns but as soon as they got a little power it sure seems they are in a big hurry to rush in and help out those poor banks..
You know, the zombie banks that went bankrupt in 2008 and remain insolvent today? And even while they are still bankrupt and insolvent they have no qualms whatsoever about throwing American citizens from their homes out into the streets, taking away their cars and laughing at their requests for credit..
In my opinion this economic episode will never be over until the too big to fail banks get what is coming to them.. right where the sun don't shine.. However, I do NOT expect the newly elected republicans to be on the same page with me there.. In my opinion the republicans will be MUCH friendlier toward the usurious banks, retailers and corporations while doing everything in their power to keep commodity costs high to support their friends in energy and continue, as obama has, to find new innovative ways to continually pump more money in to the coffers of insurance companies, the health care industry, the pharmaceutical companies, the military.. You get the idea.. It seems no matter which party runs government all we ever get is more government and more government spending..
All that without even mentioning the Federal Reserve Bank.. Republicans, in my opinion, will do everything in their power to protect the FED from any scrutiny, transparency or accountability.. We'll see I guess..
---
J.P. Morgan Memo: GOP Will Slow Down FinReg
Newly-Empowered House Republicans Take Aim at Dodd-Frank Financial Reform Bill
Greg
Tuesday, November 9, 2010
A Conflict of Interest #Treasury #FED
---
The following excerpt is from the book 'Secrets of the Temple -- How the Federal Reserve runs the country by William Greider
A short excerpt here on the unlimited power and economic manipulation pursued during the great depression, just as it is today, just to once again point out that there is nothing new under the sun.
---
"There is no limit to the amount of money that can be created by the banking system," Eccles warned, "but there are limits to our productive facilities and our labor supply, which can be only slowly increased and which at present are being used to near capacity."This was the Marriner Eccles that the Federal Reserve remembered reverently--talking like a worried central banker, not a liberal dreamer.
Yet Treasury wanted to keep interest rates low, both to hold down the cost of government borrowing and to encourage private economic activity. It was, Eccles acknowledged, "a conflict of responsibilities. The Treasury's primary job is to finance the government at the lowest cost at which it can... The The Federal Reserve has the job of regulating money and credit in such a manner as to help maintain economic stability."
ECCLESIASTES 1:9 / 1:11
(9) The thing that hath been, it is that which shall be; and that which is done is that which shall be done; and there is NO new thing under the sun.
(10) Is there anything whereof it may be said, See, this is new? it hath been already of old time, which was before us.
(11) There is NO remembrance of former things; neither shall there be any remembrance of things that are to come with those that shall come after.
Greg
The following excerpt is from the book 'Secrets of the Temple -- How the Federal Reserve runs the country by William Greider
A short excerpt here on the unlimited power and economic manipulation pursued during the great depression, just as it is today, just to once again point out that there is nothing new under the sun.
---
"There is no limit to the amount of money that can be created by the banking system," Eccles warned, "but there are limits to our productive facilities and our labor supply, which can be only slowly increased and which at present are being used to near capacity."This was the Marriner Eccles that the Federal Reserve remembered reverently--talking like a worried central banker, not a liberal dreamer.
Yet Treasury wanted to keep interest rates low, both to hold down the cost of government borrowing and to encourage private economic activity. It was, Eccles acknowledged, "a conflict of responsibilities. The Treasury's primary job is to finance the government at the lowest cost at which it can... The The Federal Reserve has the job of regulating money and credit in such a manner as to help maintain economic stability."
ECCLESIASTES 1:9 / 1:11
(9) The thing that hath been, it is that which shall be; and that which is done is that which shall be done; and there is NO new thing under the sun.
(10) Is there anything whereof it may be said, See, this is new? it hath been already of old time, which was before us.
(11) There is NO remembrance of former things; neither shall there be any remembrance of things that are to come with those that shall come after.
Greg
Sunday, November 7, 2010
Results of #Fed #Stimulus Could Be 'Horrendous'
---
Much of the rest of the world is not very happy with what the Bernanke FED is doing with monetary policy here in the USA.. Are we happy with it?
Not me..
If you prefer you may click here for the source post on Spiegal Online International
---
German Finance Minister Wolfgang Schäuble has sharply criticized the US Federal Reserve's decision to pump a further $600 billion into the country's ailing economy. He says the move could create problems for the global economy. Others have joined in the condemnation.
Germany is not impressed. One day after the United States Federal Reserve announced that it would pump $600 billion (€423 billion) into America's banking system over the next eight months, German Finance Minister Wolfgang Schäuble sharply criticized the decision.
"I don't think they are going to solve their problems that way," Schäuble told German public broadcaster ZDF in a Thursday evening interview. "They have already pumped an endless amount of money into the economy via taking on extremely high public debt and through a Fed policy that has already pumped a lot of money into the economy. The results are horrendous."
In a separate interview on public broadcaster ARD, Schäuble said that the move by Fed Chair Ben Bernanke would "create additional problems for the world." He promised to bring up the issue in talks with the US and said that, by following such a monetary path, the US was violating a pledge that all industrialized countries agreed to at the last G-20 summit in Toronto in June.
The Fed's plan envisions the purchase of US government bonds in an effort to lower long-term interest rates as a way to stimulate borrowing and investment. In a contribution to the Washington Post, Bernanke emphasized that the move was designed to help strengthen the US job market and reduce an unemployment level that has stagnated at 10 percent. "This approach eased financial conditions in the past and, so far, looks to be effective again," Bernanke wrote, referring to rising stocks and dropping interest rates this week.
Very Few Tools Left
Bernanke acted just a day after the Democrats of President Barack Obama took a beating in Tuesday's mid-term elections -- a vote which cost the party its majority in the House of Representatives. One of the Republicans' main complaints during the campaign focused on high deficits as a result of Obama's economic stimulus program. Despite recent hints from the White House that further stimulus measures might be in the offing, Tuesday's likely eliminates the possibility that Obama can push through further legislation to stimulate the economy.
The Fed, for its part, has very few levers left to stimulate investment and growth. Short-term interest rates have long been close to zero, eliminating that favored monetary policy tool. Buying government bonds, while controversial, appears to be the only route remaining to stimulate demand.
In his Thursday essay, Bernanke emphasized that "the Federal Reserve cannot solve all the economy's problems on its own. That will take time and the combined efforts of many parties, including the central bank, Congress, the administration, regulators and the private sector."
German Economics Minister Rainer Brüderle, of the business-friendly Free Democratic Party, Chancellor Angela Merkel's junior coalition partners, is likewise skeptical that the Fed's path is the correct one. "I view the move with concern," he told reporters in Berlin on Thursday, adding that he doesn't think that a more liberal monetary policy will necessarily boost the economy. "It isn't enough to set out the water. The horses have to drink too."
'There Is Spillover'
He added that he is particularly concerned about what the move might do to the euro-dollar exchange rate. He said that exchange rates should reflect the fundamentals of the economies involved. When it comes to China and the US, he added, that is no longer the case. The euro climbed above $1.42 on Thursday following the Fed's announcement.
Criticism has also come from China, with the country's central bank head, Zhou Xiaochuan saying that the Fed's move might hurt economies in the rest of the world. "There is a spill over," he said. Brazil, Indonesia and Japan have also voiced concern.
As has the financial press in Germany. "The most recent step taken by the Federal Reserve in the continuation of a series of undesirable developments in the US," writes the business daily Handelsblatt on Friday. "Instead of finally facing up to the excessive debt problem, accepting the uncomfortable truths and introducing painful reforms in the country, debt-financed stimulus programs remain the only strategy that Bernanke & Co. seem able to come up with."
cgh -- with wire reports
Much of the rest of the world is not very happy with what the Bernanke FED is doing with monetary policy here in the USA.. Are we happy with it?
Not me..
If you prefer you may click here for the source post on Spiegal Online International
---
German Finance Minister Wolfgang Schäuble has sharply criticized the US Federal Reserve's decision to pump a further $600 billion into the country's ailing economy. He says the move could create problems for the global economy. Others have joined in the condemnation.
Germany is not impressed. One day after the United States Federal Reserve announced that it would pump $600 billion (€423 billion) into America's banking system over the next eight months, German Finance Minister Wolfgang Schäuble sharply criticized the decision.
"I don't think they are going to solve their problems that way," Schäuble told German public broadcaster ZDF in a Thursday evening interview. "They have already pumped an endless amount of money into the economy via taking on extremely high public debt and through a Fed policy that has already pumped a lot of money into the economy. The results are horrendous."
In a separate interview on public broadcaster ARD, Schäuble said that the move by Fed Chair Ben Bernanke would "create additional problems for the world." He promised to bring up the issue in talks with the US and said that, by following such a monetary path, the US was violating a pledge that all industrialized countries agreed to at the last G-20 summit in Toronto in June.
The Fed's plan envisions the purchase of US government bonds in an effort to lower long-term interest rates as a way to stimulate borrowing and investment. In a contribution to the Washington Post, Bernanke emphasized that the move was designed to help strengthen the US job market and reduce an unemployment level that has stagnated at 10 percent. "This approach eased financial conditions in the past and, so far, looks to be effective again," Bernanke wrote, referring to rising stocks and dropping interest rates this week.
Very Few Tools Left
Bernanke acted just a day after the Democrats of President Barack Obama took a beating in Tuesday's mid-term elections -- a vote which cost the party its majority in the House of Representatives. One of the Republicans' main complaints during the campaign focused on high deficits as a result of Obama's economic stimulus program. Despite recent hints from the White House that further stimulus measures might be in the offing, Tuesday's likely eliminates the possibility that Obama can push through further legislation to stimulate the economy.
The Fed, for its part, has very few levers left to stimulate investment and growth. Short-term interest rates have long been close to zero, eliminating that favored monetary policy tool. Buying government bonds, while controversial, appears to be the only route remaining to stimulate demand.
In his Thursday essay, Bernanke emphasized that "the Federal Reserve cannot solve all the economy's problems on its own. That will take time and the combined efforts of many parties, including the central bank, Congress, the administration, regulators and the private sector."
German Economics Minister Rainer Brüderle, of the business-friendly Free Democratic Party, Chancellor Angela Merkel's junior coalition partners, is likewise skeptical that the Fed's path is the correct one. "I view the move with concern," he told reporters in Berlin on Thursday, adding that he doesn't think that a more liberal monetary policy will necessarily boost the economy. "It isn't enough to set out the water. The horses have to drink too."
'There Is Spillover'
He added that he is particularly concerned about what the move might do to the euro-dollar exchange rate. He said that exchange rates should reflect the fundamentals of the economies involved. When it comes to China and the US, he added, that is no longer the case. The euro climbed above $1.42 on Thursday following the Fed's announcement.
Criticism has also come from China, with the country's central bank head, Zhou Xiaochuan saying that the Fed's move might hurt economies in the rest of the world. "There is a spill over," he said. Brazil, Indonesia and Japan have also voiced concern.
As has the financial press in Germany. "The most recent step taken by the Federal Reserve in the continuation of a series of undesirable developments in the US," writes the business daily Handelsblatt on Friday. "Instead of finally facing up to the excessive debt problem, accepting the uncomfortable truths and introducing painful reforms in the country, debt-financed stimulus programs remain the only strategy that Bernanke & Co. seem able to come up with."
cgh -- with wire reports
Saturday, November 6, 2010
A Message 4 the #government #FED & Primary Dealers
---
Here's the message.. fools..
So ask no questions and I'll tell no lies
I got big ol' pupils and blood shot eyes
I'm on the brink if you know what I mean
And a 12 step program couldn't keep me clean
Cause I'm the bullgod...you understand
The illegitimate son of man
The T-O-P to the D-O-G
Or the P-O-T to the G-O-D
I am the bullgod...you understand
And here in my head is my master plan
Uh I'm gonna get you
I see through you
I'm gonna get you
I see through you
---
"I Am The Bullgod"
I am the bullgod...I am free...and I feed on all that is forsaken
I'm gonna get you....I see through you...I'm gonna get you
I'm like a train I roll hard...lettin' off much steam
In the Carhart flannel and dusty jeans baby
I never was cool with James Dean
But I be hanging tough with my man Jim Beam
I swing low like a chimp
Back in '86 man I was seein' a shrink
But now I'm humble and I can only think
About New Orleans and those jumbo shrimp
So ask no questions and I'll tell no lies
I got big ol' pupils and blood shot eyes
I'm on the brink if you know what I mean
And a 12 step program couldn't keep me clean
'Cause I'm the bullgod...you understand
The illegitimate son of man
The T-O-P to the D-O-G
Or the P-O-T to the G-O-D
And I'm trippin'
Said I'm trippin'
I am the bullgod...I am free...and I feed on all that is forsaken
I'm gonna get you...I see through you...I'm gonna get you
A lot of people poke fun and that's alright
But when I start pokin' back they get all uptight
You can't cap with the master son
So sit your ass down before I blast ya one
Cause I'm so greasy you can call me mud
And I feel a little Hank runnin' through my blood
I wanna flood the world with my twisted thoughts
You can bet all day but I can't be bought
Uh Break it up let's tie one on
I gotta get set to go and cut the lawn
So I grab my walkman but before I cut
I got behind the garage and fire it up
Cause I'm the bullgod...you understand
The illegitimate son of man
The T-O-P to the D-O-G
Or the P-O-T to the G-O-D
And I'm trippin'
Said I'm trippin'
I am the bullgod...I am free...and I feed on all that is forsaken
I'm forsaken yeah
I ain't nothing
Yeah yeah yeah yeah
Come on get 'em up
Come on get 'em up
Come on get 'em up
I am the bullgod...I am free...and I feed on all that is forsaken
I am the bullgod...I am free...and I feed on all that is
I get a feeling of peace, from a low so high
As I sit in my chair and watch life go by
These thoughts I have can't mold to sense
Through the forest of my mind, they're all past tense
Born and raised in the outer lands
And at times you can say I'm outta hand
I'm in a band of gypsies, we're on the run
Everytime that paper hits my tongue
And sometimes it seems so odd
When my veins are popping and I'm on the nod
I am the bullgod...you understand
And here in my head is my master plan
Uh I'm gonna get you
I see through you
I'm gonna get you
I see through you
Greg
Here's the message.. fools..
So ask no questions and I'll tell no lies
I got big ol' pupils and blood shot eyes
I'm on the brink if you know what I mean
And a 12 step program couldn't keep me clean
Cause I'm the bullgod...you understand
The illegitimate son of man
The T-O-P to the D-O-G
Or the P-O-T to the G-O-D
I am the bullgod...you understand
And here in my head is my master plan
Uh I'm gonna get you
I see through you
I'm gonna get you
I see through you
---
"I Am The Bullgod"
I am the bullgod...I am free...and I feed on all that is forsaken
I'm gonna get you....I see through you...I'm gonna get you
I'm like a train I roll hard...lettin' off much steam
In the Carhart flannel and dusty jeans baby
I never was cool with James Dean
But I be hanging tough with my man Jim Beam
I swing low like a chimp
Back in '86 man I was seein' a shrink
But now I'm humble and I can only think
About New Orleans and those jumbo shrimp
So ask no questions and I'll tell no lies
I got big ol' pupils and blood shot eyes
I'm on the brink if you know what I mean
And a 12 step program couldn't keep me clean
'Cause I'm the bullgod...you understand
The illegitimate son of man
The T-O-P to the D-O-G
Or the P-O-T to the G-O-D
And I'm trippin'
Said I'm trippin'
I am the bullgod...I am free...and I feed on all that is forsaken
I'm gonna get you...I see through you...I'm gonna get you
A lot of people poke fun and that's alright
But when I start pokin' back they get all uptight
You can't cap with the master son
So sit your ass down before I blast ya one
Cause I'm so greasy you can call me mud
And I feel a little Hank runnin' through my blood
I wanna flood the world with my twisted thoughts
You can bet all day but I can't be bought
Uh Break it up let's tie one on
I gotta get set to go and cut the lawn
So I grab my walkman but before I cut
I got behind the garage and fire it up
Cause I'm the bullgod...you understand
The illegitimate son of man
The T-O-P to the D-O-G
Or the P-O-T to the G-O-D
And I'm trippin'
Said I'm trippin'
I am the bullgod...I am free...and I feed on all that is forsaken
I'm forsaken yeah
I ain't nothing
Yeah yeah yeah yeah
Come on get 'em up
Come on get 'em up
Come on get 'em up
I am the bullgod...I am free...and I feed on all that is forsaken
I am the bullgod...I am free...and I feed on all that is
I get a feeling of peace, from a low so high
As I sit in my chair and watch life go by
These thoughts I have can't mold to sense
Through the forest of my mind, they're all past tense
Born and raised in the outer lands
And at times you can say I'm outta hand
I'm in a band of gypsies, we're on the run
Everytime that paper hits my tongue
And sometimes it seems so odd
When my veins are popping and I'm on the nod
I am the bullgod...you understand
And here in my head is my master plan
Uh I'm gonna get you
I see through you
I'm gonna get you
I see through you
Greg
Wednesday, November 3, 2010
#Beck talks #FED
---
Maybe some of you haven't seen Glenn Beck yet.. A little hard to imagine.. but he serves a very important purpose in the United states of America.. He takes complex issues and breaks them down very well so that the layman can easily understand them..
IF you don't quite understand what monetizing the debt means or what the Federal Reserve does then please watch this short video for a quick crash course on what is going on with the Federal Reserve and the monetization of our debt.. They are intentionally destroying the value of YOUR money.. our own shared and beloved fiat currency.. Find out WHY..
I caught this video from @The_Real_Fly on ibankcoin.com If you prefer you may watch the video there by clicking the link ;)
---
Maybe some of you haven't seen Glenn Beck yet.. A little hard to imagine.. but he serves a very important purpose in the United states of America.. He takes complex issues and breaks them down very well so that the layman can easily understand them..
IF you don't quite understand what monetizing the debt means or what the Federal Reserve does then please watch this short video for a quick crash course on what is going on with the Federal Reserve and the monetization of our debt.. They are intentionally destroying the value of YOUR money.. our own shared and beloved fiat currency.. Find out WHY..
I caught this video from @The_Real_Fly on ibankcoin.com If you prefer you may watch the video there by clicking the link ;)
---
Tuesday, November 2, 2010
Who TF are we anyway? Here's a #Clue
---
The Bill of Rights
---
The First 10 Amendments to the
Constitution as Ratified by the States
December 15, 1791
Preamble
Congress OF THE United States
begun and held at the City of New York, on Wednesday
the Fourth of March, one thousand seven hundred and eighty nine.
THE Conventions of a number of the States having at the time of their adopting the Constitution, expressed a desire, in order to prevent misconstruction or abuse of its powers, that further declaratory and restrictive clauses should be added: And as extending the ground of public confidence in the Government, will best insure the beneficent ends of its institution
RESOLVED by the Senate and House of Representatives of the United States of America, in Congress assembled, two thirds of both Houses concurring, that the following Articles be proposed to the Legislatures of the several States, as Amendments to the Constitution of the United States, all or any of which Articles, when ratified by three fourths of the said Legislatures, to be valid to all intents and purposes, as part of the said Constitution; viz.:
ARTICLES in addition to, and Amendment of the Constitution of the United States of America, proposed by Congress, and ratified by the Legislatures of the several States, pursuant to the fifth Article of the original Constitution.
Amendment I
Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.
Amendment II
A well regulated Militia being necessary to the security of a free State, the right of the people to keep and bear Arms shall not be infringed.
Amendment III
No Soldier shall, in time of peace be quartered in any house, without the consent of the Owner, nor in time of war, but in a manner to be prescribed by law.
Amendment IV
The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.
Amendment V
No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offence to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.
Amendment VI
In all criminal prosecutions, the accused shall enjoy the right to a speedy and public trial, by an impartial jury of the State and district wherein the crime shall have been committed, which district shall have been previously ascertained by law, and to be informed of the nature and cause of the accusation; to be confronted with the witnesses against him; to have compulsory process for obtaining witnesses in his favor, and to have the Assistance of Counsel for his defence.
Amendment VII
In suits at common law, where the value in controversy shall exceed twenty dollars, the right of trial by jury shall be preserved, and no fact tried by a jury, shall be otherwise reexamined in any Court of the United States, than according to the rules of the common law.
Amendment VIII
Excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted.
Amendment IX
The enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people.
Amendment X
The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.
The Bill of Rights
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The First 10 Amendments to the
Constitution as Ratified by the States
December 15, 1791
Preamble
Congress OF THE United States
begun and held at the City of New York, on Wednesday
the Fourth of March, one thousand seven hundred and eighty nine.
THE Conventions of a number of the States having at the time of their adopting the Constitution, expressed a desire, in order to prevent misconstruction or abuse of its powers, that further declaratory and restrictive clauses should be added: And as extending the ground of public confidence in the Government, will best insure the beneficent ends of its institution
RESOLVED by the Senate and House of Representatives of the United States of America, in Congress assembled, two thirds of both Houses concurring, that the following Articles be proposed to the Legislatures of the several States, as Amendments to the Constitution of the United States, all or any of which Articles, when ratified by three fourths of the said Legislatures, to be valid to all intents and purposes, as part of the said Constitution; viz.:
ARTICLES in addition to, and Amendment of the Constitution of the United States of America, proposed by Congress, and ratified by the Legislatures of the several States, pursuant to the fifth Article of the original Constitution.
Amendment I
Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.
Amendment II
A well regulated Militia being necessary to the security of a free State, the right of the people to keep and bear Arms shall not be infringed.
Amendment III
No Soldier shall, in time of peace be quartered in any house, without the consent of the Owner, nor in time of war, but in a manner to be prescribed by law.
Amendment IV
The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.
Amendment V
No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offence to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.
Amendment VI
In all criminal prosecutions, the accused shall enjoy the right to a speedy and public trial, by an impartial jury of the State and district wherein the crime shall have been committed, which district shall have been previously ascertained by law, and to be informed of the nature and cause of the accusation; to be confronted with the witnesses against him; to have compulsory process for obtaining witnesses in his favor, and to have the Assistance of Counsel for his defence.
Amendment VII
In suits at common law, where the value in controversy shall exceed twenty dollars, the right of trial by jury shall be preserved, and no fact tried by a jury, shall be otherwise reexamined in any Court of the United States, than according to the rules of the common law.
Amendment VIII
Excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted.
Amendment IX
The enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people.
Amendment X
The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.
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