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DOW 6800, S&P 720, NASDAQ 1310 - Page 81

post #1601 of 1894
Thread Starter 

Get a load of this.

 

Secret AIG Document Shows Goldman Sachs Minted Most Toxic CDOs

How Goldman Sachs Created ‘Shitty’ CDOs, Sold Them To AIG, Forced AIG Into Bankruptcy, Got A $20 Billion Bailout, Paid Themselves Billions In Bonuses, And Watched As Tim Geithner Covered It All Up.

 

Excerpt - A potentially more important development slipped by with less notice, Bloomberg Markets reports in its April issue. Representative Darrell Issa, the ranking Republican on the House Committee on Oversight and Government Reform, placed into the hearing record a five-page document itemizing the mortgage securities on which banks such as Goldman Sachs Group Inc. and Societe Generale SA had bought $62.1 billion in credit-default swaps from AIG.

These were the deals that pushed the insurer to the brink of insolvency — and were eventually paid in full at taxpayer expense. The New York Fed, which secretly engineered the bailout, prevented the full publication of the document for more than a year, even when AIG wanted it released.

That lack of disclosure shows how the government has obstructed a proper accounting of what went wrong in the financial crisis, author and former investment banker William Cohan says. “This secrecy is one more example of how the whole bailout has been done in such a slithering manner,” says Cohan, who wrote “House of Cards” (Doubleday, 2009), about the unraveling of Bear Stearns Cos. “There’s been no accountability.”

 

The document Issa made public cuts to the heart of the controversy over the September 2008 AIG rescue by identifying specific securities, known as collateralized-debt obligations, that had been insured with the company. The banks holding the credit-default swaps, a type of derivative, collected collateral as the insurer was downgraded and the CDOs tumbled in value.

The public can now see for the first time how poorly the securities performed, with losses exceeding 75 percent of their notional value in some cases. Compounding this, the document and Bloomberg data demonstrate that the banks that bought the swaps from AIG are mostly the same firms that underwrote the CDOs in the first place.

 

I continue to be amazed how these charades persist under this phony capitalistic system of ours, yet these perpetrators have not been brought forth. This alone speaks to the joke that Wall St is,, and to the never ending fraud that is prevalent in he highest levels of finance and public office.  Mark these words; Wall St own success will leads to its demise.

 

Link to full story - http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ax3yON_uNe7I&pos=11

 

On a lighter note; American's had their money Stolen by the Federal Government - Now What do we do

 

 

Glad I'm leaving this godforsaken country in a couple of years (this is getting from bad to worst); it's sad to see what once was conceived as the pillar of greatness, freedom and intellect, dissipate into nothing else but fraud, greed and corruption, even in the highest placed of finance and politics. It is really to my amazement how fraud in not only prevalent, but made public, yet people willingly accept it and accommodate to it. In the words of John Mill - "The idea that truth always triumphs over persecution is one of those pleasant falsehoods, which most experience refutes. History is teeming with instances of truth put down by persecution. If not put down forever, it may be set back for centuries." Good luck to you all.

post #1602 of 1894

why are you living this country? you don't like camping? any ways its pretty sad, i hope its not going to get worse.

 

Economic despair is beginning to spread rapidly in America.  As you read this, there are millions of American families that are just barely hanging on by their fingernails.  For a growing number of Americans, it has become an all-out battle just to be able to afford to sleep under a roof and put a little bit of food on the table.  Sadly, there are more people than ever that are losing that battle.  Tonight, tens of thousands of formerly middle class Americans will be sleeping in their cars, even though that is illegal in many U.S. cities.  Tens of thousands of others will be sleeping in tent cities or on the streets.  Meanwhile, communities all over America are passing measures that are meant to push tent cities and homeless people out of their areas.  It turns out that once you lose your job and your home in this country you become something of an outcast.  Sadly, the number of "outcasts" is going to continue to grow as the U.S. economy continues to collapse.

Most Americans that end up living in their cars on in tent cities never thought that it would happen to them.

An article in Der Spiegel profiled one American couple that is absolutely shocked at what has happened to them....

Chanelle Sabedra is already on that road. She and her husband have been sleeping in their car for almost three weeks now. "We never saw this coming, never ever," says Sabedra. She starts to cry. "I'm an adult, I can take care of myself one way or another, and same with my husband, but (my kids are) too little to go through these things." She has three children; they are nine, five and three years old.

"We had a house further south, in San Bernardino," says Sabedra. Her husband lost his job building prefab houses in July 2009. The utility company turned off the gas. "We were boiling water on the barbeque to bathe our kids," she says. No longer able to pay the rent, the Sabedras were evicted from their house in August.

How would you feel if you had a 3 year old kid and a 5 year old kid and you were sleeping in a car?

Sadly, if child protective services finds out about that family those kids will probably be stolen away and never returned.

America is becoming a very cruel place.

Unfortunately, what has happened to that family is not an isolated incident.  Asrampant unemployment has spread across America, the number of people that have lost their homes has soared.

Today, it is estimated that approximately a third of the homeless population in Seattle live in their cars.

It is even happening to my readers.  A reader named JD left the following comment on one of my articles a while back....

I was laid off from my construction job almost 2 yrs ago was on unenjoyment for over a yr they cut me off last september so i lost my apartment. Since then ive been couch surfing and hotel hopping. Now i occaisonally sleep in my car. I was lucky enough to have a friend with a lawn care business so i can at least put ever increasing gas in my carhouse. I hate to say it but i think we will see hoovervilles in the major cities soon. When the welfare & food stamps & all the other govt. programs end the anarchy begins.

Desperation is rising all over America.  Most people had hoped to see aneconomic recovery by now but it just hasn't happened.

The phenomenon of Americans living in their cars has become so prominent that even Time Magazine has done a story about it....

For people who cannot afford rent, a car is the last rung of dignity and sanity above the despair of the streets. A home on wheels is a classic American affair, from the wagon train to the RV. Now, for some formerly upwardly mobile Americans, the economic storm has turned the backseat or the rear of the van into the bedroom. "We found six people sleeping in their cars on an overnight police ride-along in December," says John Edmund, chief of staff to Long Beach councilman Dee Andrews. "One was a widow living in a four-door sedan. She and her husband had been Air Force veterans. She did not know about the agencies that could help her. I had tears in my eyes afterwards."

Unfortunately, it turns out that sleeping in cars has been made illegal in many areas of the United States.

In many cities, police are putting boots on the cars and when the homeless owners can't pay the fines the vehicles are being taken away from them.

Venice, California is one place where people have been arrested for living in vehicles.  Venice had been a popular spot for people living in their RVs to go, but police started arresting people that were living in RVs and they began towing away their vehicles. The following is an excerpt from an article that appeared on the Daily Kos website....

They took Eric while he was changing his battery in his car. Claimed he lived in his car. A few days later they went to 3th Street and took his RV because he was in jail and no one moved it for 72 hours. Saturday they did a sweep of 7th and took Bear and his RV. They also took Elizabeth's RV but do not know if they took Elizabeth but can not find her. The police went to 6th and took the white RV that always parks by Broadway on 6th. Everyday they take 1 to 4 RVs. Very soon there will be no one left.

Once you are down on your luck in America you will quickly find that authorities will try to take everything else you still have away from you.

The United States can be a very brutal place to be if you are poor.

All over America, communities are making tent cities illegal or they are simply just chasing them away.

It turns out that many Americans really don't like large numbers of homeless people camping out in their neighborhoods.

But many of those now living in tent cities used to be just like you and me.

What is being done to tent cities in some areas of the country is absolutely disgusting.

 

What goes through your mind when you watch something like that?

If you don't feel at least a little bit of compassion for those people then something is wrong.

You never know - you might be the next one forced to take refuge in a tent city.

In many U.S. cities, it is even illegal to sleep on the street.  If you are homeless I am not sure what you are supposed to do.  In some areas of the U.S. you can't sleep in your car, you can't sleep in a tent city and you can't sleep on the street.

So what should we do with all of the Americans that are being forced out of their homes by this economy?

Should we just round them all up and put them into fenced camps?

Don't laugh - we are getting closer to that kind of thing every day.

We live in very frightening times.

Poverty is absolutely exploding in America.  The number of Americans that are going to food pantries and soup kitchens has increased by 46% since 2006.  There are 44 million Americans on food stamps.  If it was not for measures like these, the streets of America would be filled with destitute people.

Things are tough out there and they are about to get tougher.

At the beginning of next year, the extended unemployment benefits that have been helping the unemployed during this economic downturn will expire.  Up to now, many unemployed Americans have been able to enjoy up to 99 weeks of unemployment benefits.  Now that is coming to an end.

According to the New York Times, this is going to drain 37 billion dollars out of the wallets of unemployed Americans that are just barely hanging on.

What in the world is that going to do to the economy?

This all comes at a time when it looks like unemployment is going to start rising once again.

Cisco has just announced that they are going to be laying off 10,000 workers.  Other large firms are expected to announce more layoffs shortly.  The number of good jobs continues to shrink.

There are other signs that the economy is slowing once again.  Pre-orders for Christmas toys are way down.  Vacancies at U.S. shopping malls are rising again.  Nearly every major poll shows that Americans are extremely pessimistic about the economy right now.

So why in the world is all of this happening?

Where in the world did all of our jobs go?

Well, it turns out that millions of our jobs have been shipped overseas where the labor is far, far cheaper and it is really starting to catch up with us.

On The American Dream website, I just finished an article entitled "How Globalism Has Destroyed Our Jobs, Businesses And National Wealth In 10 Easy Steps".  It is a 2500 word essay that explains how globalization has absolutely gutted our economy.  The article will hopefully help you understand why so many good jobs have left the United States and why they aren't coming back.

Many of our great cities that used to be the envy of the entire globe are now a bad joke to the rest of the world.

The following is what one reporter from the UK found when he visited one of the worst areas of Detroit....

Occasionally a half-ruined or half-burned house still stands to remind you that this used to be a cityscape. Pathetic, besieged knots of surviving homes remind you of what was once here. Sometimes amazing efforts have been made to keep them smart. More often, they haven’t.

Many bear menacing notices warning visitors to stay away. On the door of one, easy to imagine as a neat home with an iron-pillared porch where the head of the family must once have sat on summer evenings, are the words ‘Enter at ya own risk’ accompanied by a crude drawing of an angry face.

I ventured into a nearby ruin, smashed, charred and half-filled with garbage. You have no idea who or what might be lurking in these houses.

But don't laugh at Detroit.  What is happening in Detroit is coming to your area soon enough.

America is in an advanced state of decay.  The number of "outcasts" is going to multiply as more Americans lose their jobs and their homes.  Millions more Americans will be sleeping in their cars, in tent cities or on the streets before this is all over.

The U.S. economy is never going to get back to "normal".  What we are living through now is the "new normal" and it is rip-roaring prosperity compared to what is coming.

Please show compassion to the people around you that are hurting right now.

You never know, as the economy continues to unravel it may be you that needs some compassion soon. 

 

 

 

 

 

post #1603 of 1894
Thread Starter 

Mr. Sono,

 

Why am I leaving? Take a look around you. Look how dysfunctional the government and financial sector is. And I mean dysfunctional not in the sense that nothing can get done (a concept that recently the media is inculcating to the masses by putting all of the blame on Washington, and particularity on the President, and not on the banks - the true perpetrators. Go figure!), but in the sense that there is so much corruption that quite frankly, no longer puts the United States as the beacon of hope, success and freedom (the founding father wrote about this extensively; they knew that the framework they created had many loopholes that would at one point falter, but it was the best framework that they could place at the time; one that would shun the financials oppression that they were fleeing from Europe). The truth is that we've allowed the bankgsters to not only steal our money, but our freedoms. I rather live in a tent in another country other than here; at least I'll keep my freedoms. Nah, I think I'll rent a beach house in another country, with what the amount of money I live here with.

 

Instead of listening to Wolf Blitzer, Brian Sullivan, Joe Kernen, Simon Hobbs, Gay Kaminsky, David Gergen and all of these 'TV impostors' that dispel a bunch of nonsense and are all in bed together (geez, that would not be a pretty scene), listen to or read what Martin Armstrong has to say. The guy is one of the few people that I believe in what he preaches. Why? because the guy formed part of one of the inner circles that today control what happens around the world.

 

Here are two recent posting that I HIGHLY recommend each and every single of your read; to follow his postings, here is his website (he does not charge anything).

 

http://www.martinarmstrong.org/files/Clarification%2007-15-2011.pdf

http://www.10sigma.com/files/Borrowing%20from%20the%20Rich%2006-30-2011.pdf

 

Website - http://www.martinarmstrong.org/economic_projections.htm

 

 

post #1604 of 1894
Thread Starter 

Another good article;

 

Who Rules America?

Who Rules America? An Investment Manager Breaks Down the Economic Top 1%, Says 0.1% Controls Political and Legislative Process

 

This article was written by an investment manager who works with very wealthy clients. I knew him from decades ago, but he recently e-mailed me with some concerns he had about what was happening with the economy. What he had to say was informative enough that I asked if he might fashion what he had told me into a document for the Who Rules America Web site. He agreed to do so, but only on the condition that the document be anonymous, because he does not want to jeopardize his relationships with his clients or other investment professionals.

 

I sit in an interesting chair in the financial services industry. Our clients largely fall into the top 1%, have a net worth of $5,000,000 or above, and if working make over $300,000 per year. My observations on the sources of their wealth and concerns come from my professional and social activities within this group.

Work by various economists and tax experts make it indisputable that the top 1% controls a widely disproportionate share of the income and wealth in the United States. When does one enter that top 1%? (I’ll use “k” for 1,000 and “M” for 1,000,000 as we usually do when communicating with clients or discussing money; thousands and millions take too much time to say.) Available data isn’t exact. but a family enters the top 1% or so today with somewhere around $300k to $400k in pre-tax income and over $1.2M in net worth. Compared to the average American family with a pre-tax income in the mid-$50k range and net worth around $120k, this probably seems like a lot of money. But, there are big differences within that top 1%, with the wealth distribution highly skewed towards the top 0.1%.

 

Note: What I find rather amusing is how all of sudden, people realize the economy is slowing only after the facts (at least they are willing to acknowledge just now). More than that, they just come to realize how all of thsi debt spending was a sham. Yet they pat themselves in the back because they miraculously saw this happen a month ago, lol. Where were they 3 years ago when a few people were yelling fire! Oh yeah, they were praising such measures. IDIOTAS, that is why they look like it.

 

Link to ENTIRE article (MUST READ) -

http://truthfrequencynews.com/?p=6977

post #1605 of 1894
Thread Starter 

Speechless, and happy to see more people getting their heads out their ass.

 

Even The Troops Are Waking Up

 

 

Note: For those of you who have not read Martin Armstrong's pdf files presented above, take the time to do so. You'll truly view the world with different eyes. Now obviously it is for each of you to decide whether what he says is true or not; all we ask is for you to arrive to your own conclusions based on the presented facts, not on conjured stories masked by the phonies on TV.

 

 

post #1606 of 1894

LOL bigbull, please explain to me why I have been training shoulder to shoulder with an Iraqi military officer, as well as one from Bangladesh who is also a Muslim (here in the USA by the way). Wouldn't that be a bit detrimental if the government wants me to hate them?

 

If you think we are being brainwashed to be racist against Muslims or Iraqi's, you are a moron.

 

...I can't believe I am arguing on behalf of the armed forces of the United States that we are not being trained to be racist. We have Muslim Marines for Christ's sake.

post #1607 of 1894



 

Some doesn't want to wake up..

 

Their believes are to strong on saving the world...

 

 

Quote:
Originally Posted by bigbull View Post

Speechless, and happy to see more people getting their heads out their ass.

 

Even The Troops Are Waking Up

 

 

Note: For those of you who have not read Martin Armstrong's pdf files presented above, take the time to do so. You'll truly view the world with different eyes. Now obviously it is for each of you to decide whether what he says is true or not; all we ask is for you to arrive to your own conclusions based on the presented facts, not on conjured stories masked by the phonies on TV.

 

 



 


Edited by fonzy35 - 8/1/11 at 6:37pm
post #1608 of 1894
Thread Starter 

Ok..... I'm a moron. Maybe you should look at the horizon, where there zenith  meets the meridian and not 10 feet in front of you.

 

That being said, this has nothing to do with racism. Moreover, it has nothing to do with the 'government' wanting you or your comrades to hate the Muslim community (against, this forms part of the brainwash WE are all being subject to). Heck, I support people of all ethnicities, genders and backgrounds fighting and supporting one another. After all, that is the greatness of the American army. However, the point that the marine in the video is trying to make (and it is one that I fully support), is much bigger than the one that you chose to focus on. That is, these wars are engineered so that the rich can get richer at the expense of everyone else, simple. This marine saw these injustices when he was fighting over in Iraq, and chose to speak out. Now, you may be quick to say that you've in fact seen 'Muslims' or radicals create great hardship over in Iraq, Libya, Afghanistan, etc and that if the U.S had not launched a full scale war, those countries would've been in far worst condition. If so, how do you know? Because other people told you so? Because that is the only point the media keeps nagging on and on and on to make a point that they even know is fallible on every regard? From my point of view, the reason you see some people (or radicals) wage war against the U.S is because they are sick and tired of  the U.S occupation, ongoing exploitation of their people and resources, and more importantly, tired of the masked lies that are conjured up by the media. Sure, I bet there some that are happy to see the army occupy their town because there has been a reduction in every day criminality, but that was there long before the U.S occupation, and guess what, it will continue to be there even when the U.S decides to pull out. Why? because these countries that were stripped off there natural resources and have been demoted to nothing. It's very hard for me to fully explain why this is in writing, but you cannot make assumptions based on assumptions (or made up stories) to arrive to a conclusion. That is why I ask people to look at various sources, make an attempt to look at the facts and arrive to their conclusions. I've done this and these are the conclusions that I've arrived to because I took the time to look at the facts.

 

I have no meat against you; I have no meat against yellow people, black people, white people. My meat is against these people who think they can just come in and take everything from us and just lie in front of our faces. It's just not the lies, its their belief that no one (or only a few) will realize this, and that is what angers me the most; the fact that they think we are not smart enough to figure this out. After all, they need to control us to meet their goals. I am tired of it and so are a growing number of people.

 

Fonzy, agreed. Hopefully more will open their eyes and just begin to ask questions; that is really all it takes.

 

Keep lighting that fire; fire burns.

 

 

post #1609 of 1894

I think you'll be surprised to know that I agree with most of what you said. But come on, you're gonna tell me that video has nothing to do with condoning the fact that the military then and now are being trained to be racist so we can carry out despicable tasks without thinking twice? That's uhhhh, exactly what he says multiple times. But although that was most of the video, you say that's not the reasons you posted the video, so alright I'm off it.

 

Yeah I get it, you're trying to tell me to look at the bigger picture of the dangerous American war machine going on here. Trust me, we are all very aware of it. Don't you think Marines would be the most aware of it? Watching our brothers die, then getting recycled back around for 2nd, 3rd, and 4th tours to the middle east?

 

I guess what I'm getting at is it's difficult to hear people explain how every service member is just a pawn in some business man's pocket, then accuse us of being blind to the situation. No I don't agree with the occupations in the middle east. You'll be hard pressed to find many Marines who still do. But we still believe in our oath to protect our freedoms and the American way of life, regardless if you believe this just puts us mindlessly in their control. We hope that there is no fighting, but if there is and it threatens Americans, we want to be there to stop it. That's all there is to it.

 

...so I don't know if that came off completely as an argument, but it was intended to be on par with what you said haha.

post #1610 of 1894
Thread Starter 

I can see and understand what you take issue with; I'll conceive you the point that the military is not solely trained to be racist. In fact, they are not trained to be racist at all (at least from my point of view), but they are trained to carry out some gruesome acts of terror that most unwillingly perform because they are told to, or because they don't have other options (although everyone has the option to not participate in such acts, but that's a separate issue). I further realize that a large portion of the military realizes the war juggernaut that the U.S has become, and some in their own way, are tying to do everything in their power to end it. I know more and more people know about this that I would like to believe, but the reason I sparingly post this is to make people who are aware, more of aware of what is going on. I don't assume to know it all, far from it. But I feel it is necessary for all of us to be as informed as we can.

 

I guess I'm frustrated, as are many, to see this great country being completely consumed by a ominous circle of individuals who are there to please themselves and no one else; the reason this country was established was to stand against these very same people who were persecuting our Founding Fathers in Europe.I just feel the need to do whatever I can to keep it that way. Perhaps it is all wishful thinking on my part, but we must defend it at all costs. After all, we are obliged to defend the country from all enemies,FOREIGN or DOMESTIC. If not, we stand to lose our freedoms.

 

I think Martin Armstrong (whose pdf files can be found above - a MUST READ for you all; it talks about what this debt ceiling is really being postponed ot the very last second), and who by the way was incarcerated for over 7 years even though he was not given a trial (gee, wonder why), summed it up best; we can try to change the paradigm at hand and restore the country to its rightful owners - we the people, but the best each of us can do for now is inform and protect our loved ones.

 

Enough of this material; I really hope more of you do your own research and never allow anyone do the thinking for you. We are all smart people who can think for ourselves!

From now, more market related stuff when time permits......

Quote:
Originally Posted by SemperOorah View Post

I think you'll be surprised to know that I agree with most of what you said. But come on, you're gonna tell me that video has nothing to do with condoning the fact that the military then and now are being trained to be racist so we can carry out despicable tasks without thinking twice? That's uhhhh, exactly what he says multiple times. But although that was most of the video, you say that's not the reasons you posted the video, so alright I'm off it.

 

Yeah I get it, you're trying to tell me to look at the bigger picture of the dangerous American war machine going on here. Trust me, we are all very aware of it. Don't you think Marines would be the most aware of it? Watching our brothers die, then getting recycled back around for 2nd, 3rd, and 4th tours to the middle east?

 

I guess what I'm getting at is it's difficult to hear people explain how every service member is just a pawn in some business man's pocket, then accuse us of being blind to the situation. No I don't agree with the occupations in the middle east. You'll be hard pressed to find many Marines who still do. But we still believe in our oath to protect our freedoms and the American way of life, regardless if you believe this just puts us mindlessly in their control. We hope that there is no fighting, but if there is and it threatens Americans, we want to be there to stop it. That's all there is to it.

 

...so I don't know if that came off completely as an argument, but it was intended to be on par with what you said haha.



 

post #1611 of 1894
Thread Starter 

Good read;

 

Are We Headed For A Second Recession? Updated July 31, 2012

 

Link )to full article) -  http://www.streettalklive.com/financial-blog/195-are-we-headed-for-a-second-recession.html

 

Once again these developments underscore supply-siders' belief that growth can only come from hard work and risk-taking. Monetary policy can't create growth out of thin air, and neither can fiscal "stimulus" spending. The swimming pool analogy is very apt: fiscal spending "stimulus" is akin to taking water out of the deep end of a pool and pouring it into the shallow end -- it achieves nothing and is simply a waste of effort. Real growth only occurs when people work more and/or someone figures out how to make the same amount of work produce more output.  If there is a silver lining to this gloomy GDP cloud, it is that fiscal and monetary policy "stimulus" have now been soundly discredited. Congress does not have the power to pull spending levers in order to speed up the economy, and the Fed can't speed up the economy by keeping interest rates at artificially low levels. In fact, fiscal and monetary policy errors of the sort we have lived with in recent years only serve to weaken the economy. Too much debt-financed spending only wastes the economy's scarce resources, while simultaneously boosting expected tax burdens. This in turn reduces the after-tax rewards to hard work and risk-taking, which explains why corporations have been so slow to invest their growing stockpiles of cash. Too much easy money only boosts speculative activity (which shows up as higher commodity and gold prices) while undermining the dollar and reducing investment.

 

 

SmartStocks Charts.jpg

 

SmartStocks Charts.jpg

Quote:
Originally Posted by bigbull View Post

I can see and understand what you take issue with; I'll conceive you the point that the military is not solely trained to be racist. In fact, they are not trained to be racist at all (at least from my point of view), but they are trained to carry out some gruesome acts of terror that most unwillingly perform because they are told to, or because they don't have other options (although everyone has the option to not participate in such acts, but that's a separate issue). I further realize that a large portion of the military realizes the war juggernaut that the U.S has become, and some in their own way, are tying to do everything in their power to end it. I know more and more people know about this that I would like to believe, but the reason I sparingly post this is to make people who are aware, more of aware of what is going on. I don't assume to know it all, far from it. But I feel it is necessary for all of us to be as informed as we can.

 

I guess I'm frustrated, as are many, to see this great country being completely consumed by a ominous circle of individuals who are there to please themselves and no one else; the reason this country was established was to stand against these very same people who were persecuting our Founding Fathers in Europe.I just feel the need to do whatever I can to keep it that way. Perhaps it is all wishful thinking on my part, but we must defend it at all costs. After all, we are obliged to defend the country from all enemies,FOREIGN and DOMESTIC. If not, we stand to lose our freedoms.

 

I think Martin Armstrong (whose pdf files can be found above - a MUST READ for you all; it talks about what this debt ceiling is really being postponed ot the very last second), and who by the way was incarcerated for over 7 years even though he was not given a trial (gee, wonder why), summed it up best; we can try to change the paradigm at hand and restore the country to its rightful owners - we the people, but the best each of us can do for now is inform and protect our loved ones.

 

Enough of this material; I really hope more of you do your own research and never allow anyone do the thinking for you. We are all smart people who can think for ourselves!

From now, more market related stuff when time permits......



 



 

post #1612 of 1894

so has anyone else noticed that certain issues like hitting the debt limit again, EU debt being unmanageable, gdp being at 100% of debt, etc etc .. which is all snowballing and culminating in the end of 2012. now i generally dont believe that end of the world stuff..BUT something could happen with the fear associated and all of these large issues coming to fruition.

post #1613 of 1894
Thread Starter 

According to an article I am soon to post, interest on the U.S. national debt and spending on entitlement programs like Social Security and Medicare are somewhere in the neighborhood of 10 to 15 percent of GDP.  By 2080, they are projected to eat up approximately 50 percent of GDP.


 

Quote:
Originally Posted by mjoke View Post

so has anyone else noticed that certain issues like hitting the debt limit again, EU debt being unmanageable, gdp being at 100% of debt, etc etc .. which is all snowballing and culminating in the end of 2012. now i generally dont believe that end of the world stuff..BUT something could happen with the fear associated and all of these large issues coming to fruition.



 

post #1614 of 1894

The underlined portion is absolutely true and illegal without approval. lol now its below.. wink.gif 

 

A more detailed GAO investigation into potential conflicts of interest at the Fed is due on Oct. 18, but Sanders said one thing already is abundantly clear. "The Federal Reserve must be reformed to serve the needs of working families, not just CEOs on Wall Street."

 

I watched something which compared the bailouts and unfunded liabilities, which accounted for more than the entire GDP worth of the world. They can keep skirting the issue along for 5 - 10 years perhaps, but what happens when the fear is at its peak (without a default), things are uncertain still, tax rebates and incentives will expire, interest rates will be higher, and all of this combined, just needs a little push, which will be exacerbated by the end of the world mentality.  I think its rather dangerous if things are not more stable by then.

post #1615 of 1894
Thread Starter 

MUST READ -

 

The Fed Audit

 

The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. "As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else." Among the investigation's key findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. "No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president," Sanders said.

 

The Fed outsourced virtually all of the operations of their emergency lending programs to private contractors like JP Morgan Chase, Morgan Stanley, and Wells Fargo.  The same firms also received trillions of dollars in Fed loans at near-zero interest rates. Altogether some two-thirds of the contracts that the Fed awarded to manage its emergency lending programs were no-bid contracts. Morgan Stanley was given the largest no-bid contract worth $108.4 million to help manage the Fed bailout of AIG.

 

Link to full article - http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

 

Another good read.

 

14 Reasons Why The U.S. Government Will Never Have A Balanced Budget Ever Again

The United States government will never have another balanced budget again.  Yes, you read that correctly.  U.S. government finances have now reached a critical "tipping point" and things are going to spin wildly out of control from this time forward.  Why?  Spending on entitlement programs and interest on the national debt are now accelerating at exponential rates.  Some time around 2020 they will eat up every single dollar of federal revenue that is brought in before a penny is spent on anything else.  Of course the solution to all of this would be to radically cut entitlement programs, but no U.S. politician in his or her right mind would do that.  After all, do you think elderly people (who vote in droves by the way) would vote for you after you just cut their Social Security checks in half? 

 

You are skeptical of that claim?

 

The following are 14 reasons why the U.S. government will never have a balanced budget ever again.... 

 

#1) Right now, interest on the U.S. national debt and spending on entitlement programs like Social Security and Medicare are

somewhere in the neighborhood of 10 to 15 percent of GDP.  By 2080, they are projected to eat up approximately 50 percent of GDP.

 

#2) Approximately 57 percent of Barack Obama's 3.8 trillion dollar budget for 2011 consists of direct payments to individual Americans or is money that is spent on their behalf.

 

#3) Nearly 51 million Americans received $672 billion in Social Security benefits in 2009.  That number is projected to grow substantially in years ahead as waves of Baby Boomers begin to retire.

 

#4) According to the Congressional Budget Office, in 2010 the Social Security system will pay out more in benefits than it receives in payroll taxes.  That was not supposed to happen until at least 2016.

 

#5) Back in 1950 each retiree's Social Security benefit was paid for by 16 workers.  Today, each retiree's Social Security benefit is paid for by approximately 3.3 workers.  By 2025 it is projected that there will be approximately two workers for each retiree.

 

#6) The U.S. government "borrowed" 2.5 trillion dollars from the Social Security Trust Fund, and now it turns out that the Social Security system is going to start needing that money.  So where will the U.S. government get an extra 2.5 trillion dollars?

 

#7) Over 40 million Americans are now on food stamps and the U.S. Department of Agriculture is projecting that more than 43 million Americans will be on food stamps by the end of 2011.   

 

#8) Entitlement programs are not subject to budget freezes or budget cuts - unless Congress changes the underlying laws.

 

#9) The lobbies for those receiving entitlement payments are extremely powerful.  That is why so few politicians will ever even mention the possibility of cutting Social Security payments.  Old people vote in high numbers, and cutting their benefits would really piss them off.

 

#10) Interest on the U.S. national debt now makes up 7% of the budget and it is climbing rapidly.  This is an expense that must be paid or else U.S. government finances collapse.

 

#11) According to the Tax Foundation’s Microsimulation Model, to erase the U.S. budget deficit for 2010, the U.S. Congress would

have to multiply the tax rate for every American by 2.4.  That would mean that the 10 percent tax rate would become 24 percent, the 15 percent tax rate would become 36 percent, and the 35 percent tax rate would have to be 85 percent.  Keep in mind that this is before unemployment taxes, Social Security taxes and state taxes are paid.  Do you think any American would ever put up with a federal income tax rate of 85 percent? 

 

#12) According to an official U.S. government report, rapidly growing interest costs on the U.S. national debt together with spending on major entitlement programs such as Social Security and Medicare will absorb approximately 92 cents of every dollar of federal revenue by the year 2019.  That is before one penny is spent on anything else.  As the U.S. government graph below reveals, the financial picture only gets more bleak in the years beyond that.... 

 

 

#13) The present value of projected scheduled benefits exceeds earmarked revenues for entitlement programs such as Social Security and Medicare by about 46 trillion dollars over the next 75 years.  So that means that the U.S government is going to have to find an extra 46 trillion dollars from somewhere to pay all those benefits.

 

#14) The vast majority of the American people have become soft and don't know how to take care of themselves any longer.  We now have millions upon millions of people who are totally dependent on the U.S. government for survival.  As the government takes care of more and more people the red ink will increasingly get worse.  At what point will it cause U.S. government finances to totally collapse?

 

Link to full article - http://endoftheamericandream.com/archives/14-reasons-why-the-u-s-government-will-never-have-a-balanced-budget-ever-again/comment-page-1

post #1616 of 1894
Thread Starter 

Another great read (a bit outdated, but still really relevant to today's conundrum. Don't think that just because the debt limit was extended that Wall St will not look to privatize these unfunded liabilities in the near future, cause a bubble out of these public works, make a killing, and then cause a crash. Again. After all, the debt limit was only extended to 2013); recommend all three articles shown above to be read.

 

If Bush and Cheney were still in office, they would use the debt ceiling impasse to seize more power from Congress. Obama, however, might be so well aligned with financial interests that the opportunity he sees is to cut Social Security, Medicare and education loose from the federal budget. Then Wall Street can privatize them.

Whatever emerges from the debt ceiling impasse, it will not be in the interest of the American people.

Paul Craig Roberts is a former Assistant Secretary of the US Treasury.

 

 

Link to full article - http://www.activistpost.com/2011/07/political-theater-and-debt-ceiling.html#more

post #1617 of 1894
Thread Starter 

Included this bit of info in the newsletters I send out; thought I should share it here with you all.

 

In the last two weeks, approximately $2.2T (trillion) have been transferred, withdrawn, or ‘lost’ (although money is not destroyed. I don’t buy into the fact that  money is all of a sudden lost), that is the second biggest outflow of capital in the history of the market, second to the week when Lehman collapsed back in 2008! So, what led to the desperate selling? A barrage of factors, but there are three I want you to understand are – a) a banking crisis in Europe. The truth of the matter is that Europe is facing an eerily similar credit freeze that what we saw here in the United States when the likes of AIG, Lehman, and Wachovia came down crashing. Now what led to banking meltdown here in the states was the deflation in housing prices, and the over leveraging of toxic (debt) in the banking sector. This led to a credit freeze, as consumers were left without debt (i.e. leverage) to wager and consume with, and banks with little capital to lend with. In Europe it’s a bit different; the banks over there are suffering from the clutches of deflation as dictated by the falling rates here in the United States, but are also dealing with the ongoing problem of solvency (not liquidity, that’s what the ECB and Fed do not understand) at the sovereign level. You have to remember that European banks finance or make possible for all of the public works in Europe. With ballooning CDS spreads, these banks are facing 20, 50X increase in costs just to be able to service these loans. Add to this the fact that European banks are having to pay more for money borrowed in the U.S, and this has created a massive shortage of capital, similar to what we saw here in the United States. This means that the ECB will need to step in and provide banks with liquidity, in order to avert (really postpone) a crisis. Now, the only way to truly resolve these issues is to address the solvency issue. Until that is addressed, you will continue to see these problems time and time again, each coming faster than the last one. This means that these banks (or bond holders) will have to take on some losses. Why do you think the bond players (really the guys with the money) are doing everything they can to bring rates down, but do so in a way to not tout with the grips of deflation? It’s because they need to lower the cost of funding in order to absorb roll over all of these losses.  It has very little to do with actually reviving credit demand, although that is their second priority (to create enough growth that offsets the deleveraging).

post #1618 of 1894
Thread Starter 

Ohhohh....

Wouldn't be surprised to see tensions between Russia and China escalate against the U.S and the likes of Israel over the next 3 - 5 years (note; the article isn't well written, but it highlights the importance of the dawning new age war. I'm sure you've all heard of recent cyber attacks; guess who behind them. Keep your eyes open, and take all precautionary to steps to protect your loved ones). 

As Charles De Gaulle once wrote - It so happens that the world is undergoing a transformation to which no change that has yet occurred can be compared, either in scope or in rapidity .

   
 

 

arn1.jpg

Russia Downs US Missile After Norway, Obama Secrets Release

n actions more reminiscent of the Cold War than modern times the foreign military intelligence directorate of the Russian General Staff (GRU) is reporting today that the Northern Fleet’s Yekaterinburg nuclear powered submarine successfully fired a RSM-54 Sineva (SS-N-23 Skiff in NATO classification) ballistic missile from the Barents Sea across the North Pole into the atmosphere over the Pacific Ocean where upon its deploying of an electromagnetic pulse (EMP) “device” succeeded in destroying an American Minuteman III ICBM fired from Vandenberg Air Force Base in California. United States Air Force Colonel Matthew Carroll in a statement to American propaganda media organs stated that the destruction of this Minuteman III ICBM was caused by an unexplained “flight anomaly” failing to mention the rapidly deteriorating relations between the US and Russia that in fact caused this incident to occur.

The taking down of this American ICBM was in “direct retaliation” for the United States unprovoked actions in slapping International travel restrictions on over 60 high ranking Russian officials the Obama regime said was justified for their alleged involvement in the killing of a prisoner in 2009. Presidential press secretary Natalia Timakova stated about this unwarranted action against Russia by the Obama regime that: “We were perplexed by the State Department’s position, which chose not to wait for the final results of the investigation and a decision by the Russian court, and instead assumed such unusual responsibilities. Even in the most difficult years of the Cold War, such measures were not taken.

 

Link to full article - http://www.eutimes.net/2011/07/russia-downs-us-missile-after-norway-obama-secrets-release/

post #1619 of 1894
Thread Starter 

Thought of posting it here as well....

 

In light of yesterday's comments.

Quote:
Originally Posted by bigbull View Post

You want to know what has caused some of the recent selling?

 

 

5-year TIPS (Treasury Protected Securities) reaching an extreme in July of 103. At its height, the bond was yielding a -0.225% interest rate! That means people who were (and are) buying these bonds are paying the government to hold their money! The last tiem that happened was in 2008, when bond on short term debt were yielding a negative interest rate! We all now the subsequent rise in rates, and then the leveling-off that we are in today.

 

Look like there is a major cycle bottom being placed in rates! The gann theory supports this.

 

chart?h=200&w=280&range=1y&type=gp_line&cfg=BQuoteComp_10.xml&ticks=STIP%3AUS&img=png

 

According to the Gann theory (a theory derived from market cycles based on geometric and astrological cycles, and on fibonacci patterns), rates are supposed to put a 21-year cycle low in late August. The 30-year bond was first issued for trading in 1977; it's been 34 years ( a number within the fibonacci sequence), since the 30-year bod was inducted for trading; this means that the 21-year bullish phase in bonds (in price, not in yields) is set to end sometime in the fall of 2011, while the new bullish cycle in rates is set to begin sometime in the fall of 2012 (this is when the 23-year solar cycle peaks). In other words, 2011 - 2012 will be characterized as a year where you will see heightened market volatility, as major position shifting takes place within the peripheries bond market; essentially money will leave bonds and possibly (but not necessarily), into risk assets (ever wondered what is really behind this strong push in gold?)

 

Does this then perhaps explain the recent downgrade in U.S debt, and therefore portend high rates? Most likely

Does this then perhaps explain recent market turmoil? Most likely

 

Just like everything in life, even controlled markets, move in cycles (that is the essence of our lives; at least in this known universe).

 

SmartStocks Charts.jpg

 

 

Quote:
Originally Posted by Internationalstocks View Post





So are we finished or did this bloody menstrual cycle just start confused.gif


 

As far as the downgrade of U.S debt, two points I want to briefly touch base on; first - the downgrade is probably bullish for equities (or risk assets), why? apart from the fact that it is bearish for bond prices and bullish for yields, thereby creating appetite for risk, it is dollar negative. We all know what the market does when the dollar weakens. Will this necessarily mean a higher market? Not necessarily. Second - China has U.S debt rated as AA-. anything rated below BBB- is considered junk. U.S debt is very close in being graded junk by the Chinese. Why is this important; because they are the second biggest buyer of U.S debt. This can cause a fundamental shift in the bond buying of U.S debt (playing into the Gan theory), but more than that, it going to radically change how the world views U.S debt.

 

These lies that the media are spewing day after day regarding U.S debt being the ONLY and BEST vehicle for safety is a lie. It is not; it is merely a liquidity trade, not a safe heaven trade. Be way of these remarks;  these people do not have your best interest at heart. Look at the real 'stuff' for yourself. Think for yourself!

 

post #1620 of 1894

It might be bullish for equities because of the flight out of bonds, but i expect it to have adverse impact in the dollar, weakening (buying) it. So things might end up even sorta speak.

Could easily get up to the 78 resistance and decide what it wants to do. ECB decision will also have a impact. China is not happy this weekend indeed.

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