“This
ruling and precedent will be used by every brokerage, every bank, every
insurance company and every pension fund to deny you your money when
the financial system finally collapses, be it on Monday, or be it two
years from now. DO YOU UNDERSTAND? You have GOT to GET OUT.”
by Ann Barnhardt, Barnhardt.biz:The National Futures Association is collusion with the Banksters, government and judiciary and have achieved their goal. The entire concept of “customer segregated funds” is officially, completely, legally dead.
Guys, it is OVER. I know that many of you are still cowering in normalcy bias, unable to deal with reality, unable to face the world as it is, but you have GOT to snap out of it. The marketplace is DESTROYED. You CANNOT be in these markets. All legal protections are now officially gone.
Do you remember how I told you about the Ponzi scheme that imploded in 2007 called “Sentinel Management Group” that stole over $500 million in customer funds? The NFA was the auditing regulator of Sentinel, and the NFA admitted after the Sentinel Ponzi imploded that they signed off on their audits even though the NFA claimed not fully understanding Sentinel’s books or accounting methods. In other words, the NFA didn’t really audit Sentinel at all – they just PRETENDED to audit them, drew up some forms, had some robosigners sign off, and then just hoped that when the shit hit the fan, everyone in the industry would be so terrified of the NFA that no one would hold the NFA accountable for their criminal malfeasance – or even talk about it.
Sentinel took customer segregated money and fraudulently used it as the collateral on a loan from Bank of New York Mellon for $312 million to fund their own in-house proprietary trading operations. When the Sentinel Ponzi collapsed, BNYM sued to go to the front of the line of creditors – ahead of the customers of Sentinel whose money was fraudulently used as collateral, which has now been “linguistically sanitized” into the word “hypothecated”.
Read More @ Barnhardt.biz
from KingWorldNews:
Today MEP (Member European Parliament) Nigel Farage spoke with King World News about what he described as the possibility of, “a really dramatic banking collapse.” Farage also warned that central planners want to enslave and imprison people inside of a ‘New Order’” and he described the situation as “horrifying.”
Farage also discussed gold, but first, here is what he had to say about the ongoing financial crisis: “Governments don’t have the courage to tell the people that we cannot afford to go on living the way that we are. We’ve really failed very badly in having honest politics, so we have this gross and very grave debt problem.
Now everyone has decided, the Bank of England, the Fed and the European Central Bank, who are utterly brilliant people that have led us to the mess we are in, they’ve all decided that the solution is quantitative easing. The solution is to go on printing and creating false money in an attempt to buy our way out of the (ongoing) crisis.
My take on that, my historical perspective is that all we are really doing is actually compounding the problem….”
Nigel Farage continues @ KingWorldNews.com
from KingWorldNews:
Today Egon von Greyerz told King World News, “Wealth has never been created by printing money, and this time, like it has before, it will lead to a financial crash.” Greyerz, who is founder and managing partner at Matterhorn Asset Management out of Switzerland, also said, “This time the financial crash will be of a worldwide magnitude.”
Here is what Greyerz had to say: “The die is already cast for the world’s current situation. It was cast many years ago and it is irreversible. This is exactly why investors need to take a look at the big picture and protect their wealth. But focusing on the short-term for a moment, markets look poised for a big move over the next few months here.”
Egon von Greyerz continues @ KingWorldNews.com
Today Egon von Greyerz told King World News, “Wealth has never been created by printing money, and this time, like it has before, it will lead to a financial crash.” Greyerz, who is founder and managing partner at Matterhorn Asset Management out of Switzerland, also said, “This time the financial crash will be of a worldwide magnitude.”
Here is what Greyerz had to say: “The die is already cast for the world’s current situation. It was cast many years ago and it is irreversible. This is exactly why investors need to take a look at the big picture and protect their wealth. But focusing on the short-term for a moment, markets look poised for a big move over the next few months here.”
Egon von Greyerz continues @ KingWorldNews.com
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by Kurt Nimmo, Infowars:
According to Homeland Security News Wire,
the federal government considers “extremist domestic organizations” as
dangerous, if not more so, than foreign terrorist organizations. The FBI
and federal law enforcement are stymied in detecting these groups by
the First Amendment and political opposition “suspicious of the
government’s motives,” the website reports.
The portrayal of military veteran and suspected Sikh temple shooter Wade Michael Page as a white supremacist has given new credence to the Department of Homeland Security’s debunked report on “rightwing extremism.” The 2009 report, initiated during the Bush regime, characterizes returning veterans as fodder for hate groups supposedly below the government’s radar.
“What is clear from the FBI surveillance and analysis of extremist groups in the United States, surveillance which intensified after 9/11, is that the U.S. government has considered neo-Nazi and white supremacists as genuine threats for many years,” the Homeland Security News Wire reports. Declassified FBI documents released through FOIA requests show that the government considers “these groups as threats for decades — so long in fact, that it has been lost on many that white supremacists, in the form of the Ku Klux Klan, pioneered modern homegrown terrorism.”
Read More @ Infowars.com
According to Homeland Security News Wire,
the federal government considers “extremist domestic organizations” as
dangerous, if not more so, than foreign terrorist organizations. The FBI
and federal law enforcement are stymied in detecting these groups by
the First Amendment and political opposition “suspicious of the
government’s motives,” the website reports.The portrayal of military veteran and suspected Sikh temple shooter Wade Michael Page as a white supremacist has given new credence to the Department of Homeland Security’s debunked report on “rightwing extremism.” The 2009 report, initiated during the Bush regime, characterizes returning veterans as fodder for hate groups supposedly below the government’s radar.
“What is clear from the FBI surveillance and analysis of extremist groups in the United States, surveillance which intensified after 9/11, is that the U.S. government has considered neo-Nazi and white supremacists as genuine threats for many years,” the Homeland Security News Wire reports. Declassified FBI documents released through FOIA requests show that the government considers “these groups as threats for decades — so long in fact, that it has been lost on many that white supremacists, in the form of the Ku Klux Klan, pioneered modern homegrown terrorism.”
Read More @ Infowars.com
Ron Paul or NO VOTE in November...
Romney Ratifies Ryan; Proscribes Pawlenty And Portman
Mitt Romney is set to announce his choice for running mate tomorrow morning according to Bloomberg news. The wires are alive with multiple sources confirming it will be none other than Paul 'budget-bill' Ryan
- which appears to be a more aggressive choice than the safer options
as Rubio, Portman, and Pawlenty are all bridesmaids and not the bride. Ryan-ney? Rom-an? R-Squared? Ro-Ry?Eric Sprott: The Solution…Is The Problem, Part II
When we wrote Part I
of this paper in June 2009, the total U.S. public debt was just north
of $10 trillion. Since then, that figure has increased by more than 50%
to almost $16 trillion, thanks largely to unprecedented levels of
government intervention. Once the exclusive domain of central bankers
and policy makers, acronyms such as QE, LTRO, SMP, TWIST, TARP, TALF
have found their way into the mainstream. With the aim of providing
stimulus to the economy, central planners of all stripes have both
increased spending and reduced taxes in most rich countries. But do
these fiscal and monetary measures really increase economic activity or
do they have other perverse effects?... The politically favoured
option of financial repression and negative real interest rates has
important implications. Negative real interest rates are basically a
thinly disguised tax on savers and a subsidy to profligate borrowers.
By definition, taxes distort incentives and, as discussed earlier,
discourage savings.... The current misconception that our
economic salvation lies with more stimulus is both treacherous and
self-defeating. As long as we continue down this path, the “solution”
will continue to be the problem. There is no miracle cure to our
current woes and recent proposals by central planners risk worsening
the economic outlook for decades to come.BTFD...Keep Stacking...
By Peter Krauth, Resource Investor:
Speculators hate silver…
For the past year, the positive silver headlines have been few and far between.
Ever since the poor man’s gold peaked near $50 in April of last year, it’s become a despised metal.
Admittedly, it’s been languishing near $27 since early May not far from where it was for the first time – in this bull market – back in late 2010.
But as I’ll show you, right now a number of technical, seasonal, and sentiment indicators are pointing upwards for this volatile metal.
This could well be the critical turning point silver investors have been waiting for. One of these indicators is the resilient price of gold.
Let me explain.
The Silver/Gold Ratio
Silver has always pretty much been gold’s lapdog and on a relatively short leash at that.
As a rule, silver prices usually follow the direction of gold. But as long time silver investors recognize, the moves are amplified both on the downside and the upside.
Read More @ ResourceInvestor.com
Speculators hate silver…
For the past year, the positive silver headlines have been few and far between.
Ever since the poor man’s gold peaked near $50 in April of last year, it’s become a despised metal.
Admittedly, it’s been languishing near $27 since early May not far from where it was for the first time – in this bull market – back in late 2010.
But as I’ll show you, right now a number of technical, seasonal, and sentiment indicators are pointing upwards for this volatile metal.
This could well be the critical turning point silver investors have been waiting for. One of these indicators is the resilient price of gold.
Let me explain.
The Silver/Gold Ratio
Silver has always pretty much been gold’s lapdog and on a relatively short leash at that.
As a rule, silver prices usually follow the direction of gold. But as long time silver investors recognize, the moves are amplified both on the downside and the upside.
Read More @ ResourceInvestor.com
Why Do Fed Officials Talk So Much In Advance Of Action?
The
presidential season has started in earnest. First to hit the hustings
was the president of the Federal Reserve Bank of Boston, Eric
Rosengren, who, true to his blue-state roots, pressed the case for an
open-ended asset purchase program. Dallas Fed President Richard Fisher
made the red-state argument for easing off the monetary gas pedal. Increased
chatter from Fed officials is a marker Morgan Stanley's Vince Reinhart
has long-identified as signifying increased chance of Fed action. And
we are hearing it. But why do Fed officials talk so much in advance of action?
Fed officials must be disappointed by an economic outlook that falls
short of both of their objectives. They individually think that policy
can do better, but they cannot collectively agree on how.Moral Relativism And Patriotism As Weapons Of The State
The first step toward liberty is to see through the masking fog the state engulfs itself in to carry out its deeds of conquest.
Using reason to discover absolute truths is an essential part of
determining how one should live their life in accordance with sound
ethics. Relativism denies this. It can deny that evil is committed by
the state and that reprehensible acts are perfectly okay when done by
individuals with guns and badges. All it takes to reverse such
destructive thinking is the realization that state authority deserves no
pass in moral scrutiny. Withdrawing consent comes next on the path to a free society.WWIII...
Former Defense Secretary Says US Will Probably Enforce "No Fly Zone", "Take Aggressive Action" Over Syria
Three months to the election? Check. Which means war-mongering rhetoric, once considered a staple of the GOP, may very soon become action, first in Syria, and soon, everywhere else. From Bloomberg: "The U.S. and allied forces probably will impose a “no-fly zone” over Syria and take other “more aggressive action” against the Syrian regime, former Defense Secretary William Cohen said. While the U.S. has been leery of another military intervention after a decade of wars, “We’re coming to the point, however, where the violence is getting so severe, I think, that you’ll see a movement towards setting up those no- fly zones,” Cohen said on Bloomberg Television’s “Political Capital with Al Hunt” airing this weekend." Is war and immediate geopolitical escalation guaranteed? Not yet: "The former Pentagon chief and Maine senator, now chairman and chief executive officer of the Cohen Group consulting firm in Washington, said any U.S. military action would depend on participation and support from allies." Although desperate times, and by that we mean unfavorably trending popularity ranking, will certainly require desperate measures. Such as the continued massive build up of US naval assets in the middle east.
Presenting The Ultimate 'Muppet' Indicator
Today's
MANU fiasco tipped the scale on the dichotomy between the seeming
exuberance that occurs on the stock exchange floors (and the incipient
media attached to it) and the reality of what an IPO is and what
exchanges do. Since the middle of last year - when the impossible was
suddenly made possible by the US debt downgrade and markets realized
that Keynesian arithmetic was an academic version of three-card-Monti -
Bloomberg's IPO index has dramatically diverged in performance from the ever-exuberant S&P 500.
This index of post-IPO performance sends an ominous signal. It must be
clear by now that IPOs now occur when when MANAGEMENT want to cash out
- simply put they are trying to maximize their gain. The
divergence between new-money weakness and stuck-money strength
highlights more than ever the Muppet-fleecing purpose of 'our markets'.The Other Side Of Sanctions
Iran
has been pushed into a corner and is fighting for its life. The
safest weapon in its arsenal is an economic strategy; and it is the one
point where the United States is vulnerable. It is no secret that many
governments object to the sanctions and are willing to deal outside of
normal channels for a reduced price. If the Iranians should
use the new private traders to dump a few million barrels of oil onto
the market at a sharply discounted price, they just might encourage one
of these governments to openly defy the United States for a bargain.
As a persecuted minority, the Shia have learned that the weaker in a
conflict must employ cunning rather than muscle. It is the inherent
weakness of the alliance that is Iran’s strength. The unwillingness of
Washington to pressure supposed allies and the simple fact that there are buyers willing to defy the sanctions secretly reveals the cracks in the system.Friday Humor: Olympics Edition
Sometimes, some things are best left unsaid...Credit Slumps, Equity Pumps, And Volume & Volatility Dumps
UPDATE: MANU below IPO price at $13.90 now....sighYou know the score by now. Equities stage late day surge to green driven by an irrepressible squeeze lower in short-term volatility but high-yield credit doesn't follow suit as volume remains absolutely amazingly incredibly non-existent. S&P 500 e-mini futures (ES) ended the week nicely higher - closing today at the highs over 1402 (at the day-session close) with VIX at 5 month lows well under 15% (down 0.5 vols on the day which is a big move for a 1.5pt ES gain). HYG (the high-yield bond ETF) ended lower again - basically 5 days in a row - which is very unusual given equity's push to new highs. Risk assets in general did leak higher as stocks pushed up but are notably less bullish (and it appeared from our chats that credit desks left early and the IG and HY indices were simply being reracked higher - as opposed to traded there). Gold outperformed on the day - and it seemed like the EOD ramp in ES was a magnetic pull to Gold - as it disconnected from Treasuries and FX quite handily. The USD ends the week up 0.29% (yes, up), the S&P 500 up 1% while Treasuries limped a little higher in yield today to end the week 5-10bps higher (and steeper) in yield and commodities up the same as stocks (around 1%) aside from oil which managed 2.2% on the week.
Netflix CEO Buys $1 Million Worth Of Stock... FaceBook Stock
Reed
Hastings is not a popular man with NFLX shareholders. After taking the
stock just shy of $300 last summer, a series of abysmal executive
decisions that followed (including buying company stock using corporate
cash near the peak) has seen the video streamer plumb news depths, and
recently was trading at fresh two year lows. One would think that if
indeed the CEO had some extra cash lying around that he could do
something, anything to prop up his company, and send some signal of
confidence in the now battered one time high-flying DVD-rental company.
And would also be right. Partially. Because as the attached From 4
indicates, Reed did indeed just fork over $1 million to buy new shares.
Only problem is the stock he bought was not his own but that of...
FaceBook. Which he bought at an average price $21. Of course, if one
needed glaring evidence that FB is going far lower, this is it. Yet we
certainly thank Reed for telling us and his shareholders that NFLX is
still not low enough for him to even consider buying some here.
by Economic Policy Journal:
I am getting quite a few emails from readers asking about the news that:
U.S. regulators directed five of the country’s biggest banks, including Bank of America and Goldman Sachs, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.
This is all nutty propaganda that has nothing to do with a view by government that a crash is imminent (This is about a 2010 document). The report goes on to say:
U.S. regulators directed five of the country’s biggest banks, including Bank of America and Goldman Sachs, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.
This is all nutty propaganda that has nothing to do with a view by government that a crash is imminent (This is about a 2010 document). The report goes on to say:
According to documents obtained by Reuters, the Federal Reserve and the U.S. Office of the Comptroller of the Currency first directed five banks — which also include Citigroup, Morgan Stanley and JPMorgan Chase — to come up with these “recovery plans” in May 2010.Read More @ economicpolicyjournal.com.au
[Ed. Note: Related post from earlier on Friday.]
by Rick Rothacker, Reuters:
U.S. regulators directed five of the country’s biggest banks, including Bank of America Corp (BAC.N) and Goldman Sachs Group Inc (GS.N),
to develop plans for staving off collapse if they faced serious
problems, emphasizing that the banks could not count on government help.
The two-year-old program, which has been largely secret until now, is in addition to the “living wills” the banks crafted to help regulators dismantle them if they actually do fail. It shows how hard regulators are working to ensure that banks have plans for worst-case scenarios and can act rationally in times of distress.
Officials like Lehman Brothers former Chief Executive Dick Fuld have been criticized for having been too hesitant to take bold steps to solve their banks’ problems during the financial crisis.
According to documents obtained by Reuters, the Federal Reserve and the U.S. Office of the Comptroller of the Currency first directed five banks – which also include Citigroup Inc, (C.N), Morgan Stanley (MS.N) and JPMorgan Chase & Co (JPM.N) – to come up with these “recovery plans” in May 2010.
They told banks to consider drastic efforts to prevent failure in times of distress, including selling off businesses, finding other funding sources if regular borrowing markets shut them out, and reducing risk. The plans must be feasible to execute within three to six months, and banks were to “make no assumption of extraordinary support from the public sector,”according to the documents.
Read More @ Reuters.com
by Rick Rothacker, Reuters:
The two-year-old program, which has been largely secret until now, is in addition to the “living wills” the banks crafted to help regulators dismantle them if they actually do fail. It shows how hard regulators are working to ensure that banks have plans for worst-case scenarios and can act rationally in times of distress.
Officials like Lehman Brothers former Chief Executive Dick Fuld have been criticized for having been too hesitant to take bold steps to solve their banks’ problems during the financial crisis.
According to documents obtained by Reuters, the Federal Reserve and the U.S. Office of the Comptroller of the Currency first directed five banks – which also include Citigroup Inc, (C.N), Morgan Stanley (MS.N) and JPMorgan Chase & Co (JPM.N) – to come up with these “recovery plans” in May 2010.
They told banks to consider drastic efforts to prevent failure in times of distress, including selling off businesses, finding other funding sources if regular borrowing markets shut them out, and reducing risk. The plans must be feasible to execute within three to six months, and banks were to “make no assumption of extraordinary support from the public sector,”according to the documents.
Read More @ Reuters.com
by Susanne Posel, Occupy Corporatism:
Recently the Department of Homeland Security (DHS) placed a solicitation
by way of the Transportation Safety Administration (TSA) for 700 pounds
of High Density Ammonium Nitrate and 700 pounds of A-5 Flake RDX. With
the delivery date scheduled for August 31, 2012, could DHS be planning a
false flag attack involving a planted home-made bomb?
When creating a “makeshift terrorist bomb” ammonium nitrate is an integral ingredient. The DHS was given oversight of procurement of ammonium nitrate after Congress requested they “regulate the sale and transfer of ammonium nitrate by an ammonium nitrate facility…to prevent the misappropriation or use of ammonium nitrate in an act of terrorism.”
The Ammonium Nitrate Security Program focuses on preventing a terrorist attack by use of ammonium nitrate in a home-made bomb by requiring that its sale and those that purchase it be registered with the DHS. Purchasers are screened against the Terrorist Screening Database (TSDB).
Read More @ OccupyCorporatism.com
Recently the Department of Homeland Security (DHS) placed a solicitation
by way of the Transportation Safety Administration (TSA) for 700 pounds
of High Density Ammonium Nitrate and 700 pounds of A-5 Flake RDX. With
the delivery date scheduled for August 31, 2012, could DHS be planning a
false flag attack involving a planted home-made bomb?When creating a “makeshift terrorist bomb” ammonium nitrate is an integral ingredient. The DHS was given oversight of procurement of ammonium nitrate after Congress requested they “regulate the sale and transfer of ammonium nitrate by an ammonium nitrate facility…to prevent the misappropriation or use of ammonium nitrate in an act of terrorism.”
The Ammonium Nitrate Security Program focuses on preventing a terrorist attack by use of ammonium nitrate in a home-made bomb by requiring that its sale and those that purchase it be registered with the DHS. Purchasers are screened against the Terrorist Screening Database (TSDB).
Read More @ OccupyCorporatism.com
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