MF Global told us clearly (and it was reiterated in the Sentinel ruling which is now 'legal...hahahahahaha...precedent') that NO asset in the financial system is "as is" but is instead a copy-of-a-copy-of-a-copy [rehypothecated to eternity].
- There are not enough money-good, credible, assets on the planet to cover all the phoney-baloney paper derivatives now in existence.
Paper representations of notional bullion in the paper ETF's GLD and SLV are no exception.*
- Their massive paper-dilution of physical precious metals will shock you one day.
THEIR INVENTORIES DO NOT EXIST.
- Would JPM and HSBC lie to their investors? No more than Jon Corzine would.
The next centrally-planned/driven crash will tell us who is on the chopping-block of 'vaporization.' GLD and SLV do NOT have enough beneficial bullion to cover the paper claims upon them. If you are invested with them you only 'think' you own bullion, but you REALLY only own paper. They are settling on the COMEX in fiat Dollars now, and are NOT delivering bullion.
- If you are invested in them, upon their collapse, you will never recover your investment when they default.
Prepare to be Corzined!
*Not to be confused with CEF, PYHS, and PSLV which actually DO have physical (allocated, inventoried, unencumbered, etc).
Tuesday, 18 September 2012
Prepare to be Corzined!...................from Rico
Israel's Pre-War Planning
By Alan Caruba
For those who wonder how a tiny nation like Israel can take on Iran, there's good news. Here's an excerpt from my commentary on the topic:
Israel has developed an Arrow missile defense system specifically designed for Iran’s Shahab-3 threat. The United States has deployed a high-powered, long-range X-band radar facility in Israel to boost Arrow’s sensor capability and to supply data to the Pentagon’s own missile defense network. In addition, the U.S. Navy has its Aegis system, originally designed to protect naval task forces from missile attacks and, of course, an armada of ships, U.S. and others, are positioned in the Persian Gulf.
To read the entire text, click here
Monday, 17 September 2012
Mystery? No.......................from Rico
Oil was 'banged at the close' today.
- Gold and Silver were paper-raided in the access market after COMEX close.
Between low/no volume, the action has the fingerprints all over it of 'spoof' trading in an attempt to cap the rise of hard commodities and apply field dressings to the wounded US Dollar.
- Of course the 'invisible hand' had nothing to do with it, and the regulators don't see anything amiss (the 'new normal' being rigged and manipulated markets with the sanction of Central Planners).
So, there is no 'mystery'...this is the smell of fear.
- Fear of losing control of the Ponzi scheme.
Late News............
Fee fie foe fum ian, i smell the blood of a russi-ian !!
American consulate in Pakistan under siege, one rioter killed
CDR Salamander: Rep. Hunter (R-CA) Goes Salamander on LCS
It's Later Than Any Dare Think By Ben Stein
China's New Stealth Fighter. Not a repeat from December 2010.
Mr Rent-a-Quote fools mainstream media
Obama’s Middle East Delusions
Lebanon asks Iran to explain Revolutionary Guards' presence
No Marines for Libyan Ambassador, Full Security Detail for Valerie Jarrett Vacation
Disgrace in Benghazi By Mark Steyn
China sends 1,000 boats armada to disputed island chain
Turkey claims 500 rebels killed in Kurdish campaign
Foreign ministry denies Iran military presence in Syria
Argghhh! The Home Of Two Of Jonah's Military Guys.. - September 17, 1862.
Axelrod Blasts Adelson as Greedy by Citing Org Funded by... George Soros
The Picture That Should Cost Obama His JobThe Picture That Should Cost Obama His Job
Pelosi: 'Everybody Knows' Romney Won't Be President
UN Ambassador Won't Answer Questions on Lack of Marines, Free Speech
Hillary's 2016 dilemma
Virginia Elementary School Rejects Michelle Obama Request to Speak
Why the New York Times forgets 9/11
Occupiers, Meet the Resistance
2012 Tipping Point? By Frank Gaffney, Jr.
Behind Muslim "Hurt Feelings" Is Islamic Law
Obama's black turnout nightmare may be coming true
Contempt for Your Intelligence: The Administration's Benghazi Response
Is Obama's Lead In The Polls For Real?
Get real chumps!...............from Rico
The FED says "inflation will remain subdued."
- If you EXCLUDE food and energy from your inflation calculations like they do, this is true. Inflation can be considered subdued. Riiiiiight.
Since 2006 when Ben took the helm at the FED (that's six years for Chicago public school students):
- The cost of gasoline is up 34%.
- The cost of electricity for households is up 23%.
- The cost of eggs is up 30%.
- The cost of bread is up 25%.
The FED knows better than what it is 'passing off' to John Q. Public, but telling the truth is a good way to get tarred-and-feathered.
- I can see why they would blatantly LIE about inflation.
The FED might just as well have issued a one sentence statement: "Let them eat inflation."
Expect QEternity going forward...
LOD - Trial by Fire: Trailer
It may be surprising to some that Oklahoma State University is home to the nation’s only accredited Fire Protection and Safety Technology Department (FPST). For decades, this historic program has been responsible for training some of our nation’s finest and most heroic first responders. Look for the full feature in the upcoming weeks to hear their stories.
H/T Alyssa
Who would you want to lead you out of a foxhole, Barack Obama or Eli Manning?
It's a choice between loud, divisive, egocentric, narcissistic and ineffective rhetoric versus quiet, "effective and responsible leadership" that simply gets the job done!
In an effort to provide full disclosure and total transparency I am a New York Jets fan and frequent critic of the interception-prone Eli Manning and the ugly "winning ways" of the New York Giants...
Read the rest of the article at The Political Commentator here.
Saving YOU is NOT the FED's goal!.................from Rico
Ignoring all the 'happy talk' and mindless drivel on FTV and in the MSM about QE-III, let's be serious instead.
QE so far has seen falling median incomes for four consecutive years, unemployment unaffected (except in the dope-addled mind of the current misAdministration), and the housing market unchanged.
- It's idiocy to expect anything other than more of the same, except maybe a worsening.
WHY?
Because saving the man on the street, is NOT the purpose or goal. Not the FED's and not the ECB's.
- Throwing a few trillion of taxpayer's Dollars to facilitate the Banks dumping their MBS and getting more than they are really worth is the goal. [Read: saving the Banks]. The vague "hope" that somehow jobs will be created is a false-flag and cruel joke to 'sell' this scheme. Focus. Watch the money and ignore the talk. The reason is to save the Banks, and you are not the Banks.
- The Banks have been saved from bankruptcy, and the S&P from slipping beneath the waves, by the Central Banks providing them unlimited access to everyone ELSE's cash....and YOU average guy, are losing your home, your job, a chunk of your paycheck, your benefits and pension to accomplish this Bank rescue, all because some unelected and unaccountable people in suits act and talk like they know what they are doing. Well, they actually DO, and they know they are not helping you but the TBTF-TBTP Banks.
The BIG picture.
Like modern art, sometimes it's important to step back from the details and truly look at the BIG picture.
- Look at this chart of purchasing power in major currencies vs. Gold for a moment. If you held ANY major currency you LOST purchasing power (although the Swissie is the cleanest shirt in the dirty laundry) thanks to the Central Banks. Look for 1971. Then look at Gold.
Must Reads!!
- Internal rifts color anti-US protests across the world
- US preparing for a long siege of Arab unrest
- Reuel Marc Gerecht: Living with Islam
- GsGf - IMCMEX 2012 Internat"l Mine Countermeasure Exercise
- US, Japan agree to deploy advanced missile defense radar
- Panetta to urge China, Japan to tone-down island dispute
- Wings Over Iraq - Daily Defense Brief and The web's most complete round up of Global News
- Netanyahu makes case against Iran on Sunday shows
- Mideast unrest intensifies debate over Syria intervention
- Sequestration would cost $55 billion in 2013 for DoD
- Russian opposition marches against Putin, undaunted by arrests
"As the World Burns!" starring Barack Obama and the MSM! (Video)...from Mike Haltman at TPC
News.............
Yes: Bacon as Money
Two Indonesian Volcanoes Awaken, Rattling Nerves
ISAF captures Taliban commander behind the downing of US helicopter
Arguments for wind power are just hot air
The End of China's Easy Growth
D-Day assault officer who was a 'traffic cop in hell'
Panasonic shuts China plant amid protests
Obama’s Mideast Incompetence Approaches the Criminal
Russia’s “Checkbook Diplomacy” in the South Pacific
The Day Obama Became Toxic: After Libya, We Cannot Trust Him—Barack Must Fall
Growing tension between China and Japan fuel concerns over potential war
Officials celebrate Austal's second JHSV, Choctaw County, at unique christening ceremony
A Democrat, a Jew and a New Yorker walk into a bar! (Video)
Protester Dies of Smoke Inhalation at Anti-American Protest in Lahore
It's hard out there for an Islamic rage boy.
See: "Old Glory's Revenge: Muslim Protester Dies After Ingesting Smoke From Torched U.S. Flags in Pakistan."
There's video at the link.
Sunday, 16 September 2012
More Weekend Babe Blogging
A big-breast breakout entry: "Ginormous Sunday Rule 5."
Plus additional ginormous breasts at the link.
Was Libya Consulate Attack Pre-Planned?
The administration's Ambassador to the U.N., Susan Rice, continues the lie that the Middle East violence is spontaneous. See: "Ambassador Susan Rice: U.S. Not 'Impotent' in Muslim World."
But the President of Libya contradicts the administration's version of events, and it is damning: "Libya's Mohamed Yousef el-Magariaf: Attack On U.S. Embassy Was 'Planned — Definitely, It Was Planned by Foreigners...'"
BONUS: Don't miss this one as well, astounding: "U.S. Preparing for Long Siege of Arab Unrest."
