Tuesday, October 1, 2013

Is Bart Chilton Serious?

Zerohedge published this amusing email interchange between a plebian serf citizen and Bart Chilton, one of the empty suits occupying desk space at the CFTC (Commidities and Futures regulatory department).

He responded to an email by saying that "no regulators looking at markets due to Government shut down."  LINK

That's hilarious, because by making that statement he's implying that the regulators make difference when the Government is working. 

I don't know if Bart is either tragically stupid or is just trying to provide justification to his pathetic existence as a useless Government employee.  But we know the CFTC couldn't spot market manipulation even if it was in the form of a no-anesthetic colostomy being performed on them.

Keep punching the clock Bart - in a few more years you'll have your 20 yrs behind you and can retire to some fishing hole and collect a taxpayer-provided pension monthly pension payment.


  1. Scandal at Clinton Inc. How Doug Band drove a wedge through a political dynasty

    One Thursday evening last September, Bill Clinton, George W. Bush, and Tony Blair met in New York to conduct what was supposed to be a high-minded discourse on terrorism, geopolitics, and the global economy. The setting was elegant—the beaux arts ballroom of the Essex House, an iconic tower on Central Park South. The 78-person VIP guest list included Harvey Weinstein, Eli Broad, Blackstone co-founders Steve Schwarzman and Pete Peterson, Silicon Valley impresario Sean Parker, Billie Jean King, George Pataki, and New York City police chief Ray Kelly, along with CEOs and top executives from companies like Dow Chemical, Coca-Cola, BP, and Bank of America. Somehow, these onetime world leaders, corporate titans, and other notable personages converged in the center of New York without the event ever being noticed by the press.

    Teneo has its headquarters on the forty-fifth floor of the former Citigroup Center tower in Midtown and employs more than 200 people in 13 cities, including Dubai, Hong Kong, and São Paolo. It describes its raison d’être as “integrated counsel for a borderless world,” offering investment banking, restructuring advice, and “business intelligence” on dealing with “global disruptors.” According to its website, Teneo has “advised on more than $525 billion of M&A transactions, served presidents and political leaders all over the globe, and counseled the leaders of many of the largest and most complex corporations in the world.”

    From the beginning, Teneo resembled an outpost of Clintonland more than an independent entity. Clinton and Blair came on as paid advisers.

    A number of key Teneo clients were also closely involved with Clinton’s charitable work. One month before the Rockefeller Foundation presented Clinton with an award for philanthropy, it gave Teneo a $3.4 million contract to propose “tangible solutions to global problems.”

    Another early client was Coca-Cola, which helped build the distribution system for medicine in Tanzania, Mozambique, and Ghana, for a CGI project. Band has served on Coca-Cola’s international advisory board, and a former Coke CEO, Donald Keough, chairs the boutique investment bank Allen & Co., which holds a financial interest in Teneo. Other Teneo clients include the big hospital chain Tenet (which is a lead partner in the new Clinton Health Matters Initiative) and UBS Americas (which launched a Small Business Advisory Program with the foundation). “What Doug has ended up doing, if you sort of step back and look at it, is that he has met some of the most influential people in the world through President Clinton and has ended up building a business dealing with and helping those people,” says the Clinton friend.


    One man is not going to penetrate this global, monolithic mind meld...everyone is rooting for the fiat debt empire to persist...they thrive on it...it's a stranglehold. What do you think a global disruptor is?

  2. Actually, Dave, there are an increasing number of absurdities such as this appearing on the political landscape. Take what is happening right this very moment, as I write this comment. Netanyahu is making a speech at the UN, in which he consistently and brazenly lies and distorts information about Iran. Consider the absurdity and hypocrisy of the PM of Israel lecturing about a country that has no nuclear weapon capability, is a signator of the NPT, and has every right to develop nuclear energy, when Israel herself has such weapons and is not a part of the NPT, etc.

    Like the Chilton episode, the dissonance is so jarring that it makes one's head spin.

    My view is that these are symptoms of a system that is in its final stage of collapse. I understand the wisdom of those who point out that TPTB may be able to keep the balls in the air for longer than one might imagine; it's a sensible warning. But from where I sit, it is virtually inconceivable to me that a major worldwide crisis won't erupt over the next few years, and I full expect it arrive sooner, rather than later.

    1. Agree. The Israeli Govt is a cancer to the world political process.

    2. Iran has massive natural gas and petroleum deposits . If they are developing nuclear power they are being very wasteful and they are not comfortable enough economically to afford such extravagance. Iran has funded terrorism around the world since the days of Jimmy (Obama-lite) Carter. They are known to be responsible for murderous terrorist incidents in Argentina, France, Germany, Romania, Lebanon, Saudi Arabia, Egypt, Iraq (killing many Americans) and Israel. Moreover they have threatened to wipe Israel, and all Jews, of the map repeatedly. So of course there is no danger whatsoever to their development of nuclear power and weapons. Whereas Israel has had nukes (we think) for at least 30 years and has never threatened anyone so they are a cancer on the world. Are you perhaps a bit mad or just an Iranian stooge ?

    3. Gee, Mark, are you on AIPAC's payroll, perhaps?

      For the record, I am Jewish, and have relatives in Israel.

      Are you so ignorant of history as to not understand:

      a) how the U.S. was complicit in the 1953 Iran coup?

      b) how the U.S. was complicit in using the Shah's murderous regime for its own purposes?

      c) how the "wipe Israel off the map" lie has been chiefly propagated by Israel for it's own purposes, and dutifully repeated by the MSM as propaganda?

      d) Iran has not invaded another country in the past 200 years?

      I could go on, but these are rhetorical questions. I'm quite sure that you are aware of the facts, but are not interested in the truth of the matter at all.

  3. Dave,

    God they are really doing a great job making me freak out. Taper on, taper off, govt shutdown, govt not shut down good jobs report, bad jobs report, etc, etc, all bad for gold and good for the stock market. If there was a window ledge...


  4. Free State Project members now able to pay rent in bitcoins

    A property management company in New Hampshire is now enabling members of the Free State Project (FSP) to pay their rent in bitcoins.

    Matthew Ping, of Porcupine Management, said he tries to accommodate any form of payment option, but bitcoin has become something of a favourite due to the privacy it provides and its ease of use.

    Bitcoin has somewhat become the currency of choice for those involved in the FSP, which is a political migration, founded in 2001. The aim is to recruit at least 20,000 libertarians to move to New Hampshire to create a stronghold for libertarian ideas.

    He explained in a blog post earlier in the year that he first learned about bitcoin when he moved to New Hampshire to join the FSP in 2011. He now lives in Panama City, but still coordinates the Free State Bitcoin Consortium group and attended PorcFest X, moderating a panel discussion titled Bitcoin: How to Subvert Your Government.

    Vine said bitcoin is already a success within the FSP community, so once the 20,000 members goal is reached and they all move to New Hampshire, we could witness the rise of the world’s first neighbourhoods that use bitcoins as their primary currency.


    everyone is trying to figure a way out of the system....

    1. michael schumacherTuesday, 01 October, 2013

      good luck with that.....remember there is only ONE price discovery mechanism for bitcoin.
      I get the story regarding getting out of the system however having all your 'currency' priced at one exchange is asking for problems. Might as well be the guy who calls himself 'Sovereign Man'.......sure move down to Chile to the commune........

      The system is/has or will remove any part of it that doesn't snap to attention when asked.

      Mr Berlusconi, Strauss-Kahne, Matt Simmons are but a few who have gone this route of proclaiming "No, in fact, one man IS an island"

      How did it work out for them?

  5. michael schumacherTuesday, 01 October, 2013

    The same Bart Chilton who has said numerous times he would "go public" with what he knows.
    That will happen about the same time Harvey Organ takes his head out of his ass too!
    Certainly used today as an excuse for the smack-down. Wait until they do it with QE........
    No announcement......nothing...it will "be available" on the feds web-site after it is done......and as previously mentioned those who wait for an announcement will get hurt the most.

  6. Dave, Speaking of casinos, have you been to Las Vegas in the last couple of months? The place is looking like an epic fail. Monday thru Thursday rooms available at half off or more. All you can eat buffets look like breadlines from the 1930's. Gaming revenue down 14% from 2012. The auto sales report came out for September, not so good. In my humble opinion, the economy is fucked. While I'm on a rant fuck John Mc Stain and Lindsay Graham those kow towin zionist assholes.

    1. Wow. Do you have an article link that references the decline in gaming revenue? That's a big one because gaming revenues are a great bellweather indicator of economic health.

    2. I live in Reno and the whole State is an epic fail. However, much blame lies on the state officials who still act like its pre-2007 and saying "recovery is slow but it is happening". This state is saddled in debts and there's no way that it's bringing in any sales revenues (but the numbers are "distorted" to show otherwise). Here in Reno, you can get a lot of great deals as tourists haven't been coming here even before the crash. With Indian gambling in kalifornia, people will still flock to Vegas but not here (alot of gamblers are going to Laughlin instead of Vegas).




      gaming revenues is down but I have heard taht the machines aren't paying off like they used no (I don't gamble). It's wierd cause they keep hiring and everyone here keeps wondering what's going on. The only place for jobs right now is day labor and searching craiglist (sic).

  7. "Lights out" on gold, silver, and the miners. Good thing I didn't liquidate all my equities.

    1. "Global equity markets and the dollar fell on Wednesday as the U.S. government shutdown entered its second day and as data showed U.S. private employers added fewer jobs than expected last month."


      Next time, show some facts.

  8. New data: Modest homes hit hardest by flood insurance rate hikes effective Tuesday

    The situation is similar in Hills­borough County, where the property appraiser there has identified more than 21,000 older single-family homes facing dramatically higher rates. Only about 2,000 of those are directly on a bay.

    In Pinellas, the new figures from Dubov's office belie a popular perception that most of the affected homeowners are rich people living on the beaches or investors who can afford the new, higher rates.

    In fact, about 23,000 of the 33,000 affected houses have homestead exemptions because generally the owners live there.

    About 2,000 of the houses are owned by low-income seniors or people with disability exemptions. Another 2,600 have widow or widower exemptions.

    Bruce Sinclair, a 72-year-old retired Army officer, owns an older, 1,200-square-foot home on St. Peterburg's Snell Isle that is blocks from the water and has never flooded. Yet he pays $1,784 for flood insurance and will face rate increases of up to 25 percent a year until the house reaches full rates.

    He doesn't plan on sticking around that long.

    Biggert-Waters intervened.

    "The (flood) premium I just paid for this was $2,200. If I sell the house tomorrow, the new buyer will have to pay $16,000 for the same coverage," he said.


    Rep. Waters, Author of Flood Reform Act, Calls for Delay in Implementation
    NFIP began implementing higher rates for second homes in January. In October, rates on businesses in flood zones and homes that have been severely or repeatedly flooded are supposed to start going up 25 percent a year until the rates reach actuarial indications.


  9. Bart thinks he will have a nice retirement....he is mistaken......like all other useful idiots, they will be the first to regret their lies and thievery....imho

  10. Chilton should do something productive like run a precious metal fund and lose 90% of everyone's money. Right Dave?

  11. funny you should use the analogy "no-anesthetic colostomy" . My previous doctor tried this . He was fired . Worse pain I cannot imagine ! It would beat "water boarding" hands down

  12. Bill Clinton on deregulation: ‘The Republicans made me do it!’

    The ex-president seriously mischaracterizes his record

    You know, the usual Bill Clinton interview. But Clinton’s comment about his record on regulation is an actual newsmaker, because it’s a giant whopper:

    What happened? The American people gave the Congress to a group of very conservative Republicans. When they passed bills with the veto proof majority with a lot of Democrats voting for it, that I couldn’t stop, all of a sudden we turn out to be maniacal deregulators. I mean, come on. I know Senator Warren said the other day, admitted when she introduced a bill to reinstate the division between commercial and investment banks, she admitted that the repeal of Glass-Steagall did not cause one single solitary financial institution to fail.

    This is, to be kind, bullshit. Memory is a hazy thing, but I have a hard time believing Clinton doesn’t know full well he’s not telling the truth here (and with his record, he doesn’t get the benefit of the doubt).

    Let’s go to the tape. Clinton installed Robert Rubin and Larry Summers in the Treasury, which resulted in the Gramm-Leach-Bliley Act, which officially did in Glass-Steagall and the Commodity Futures Modernization Act, which left the derivatives market a laissez-faire Wild West (not to mention a disastrous strong dollar policy that was a critical and underrated factor in the bubble). He also reappointed Ayn Rand-acolyte Alan Greenspan, who has as much responsibility as anyone for creating the crisis, as Fed chairman—twice.

    Now it’s true that Clinton faced an extremely hostile Republican Congress for the last six years of his presidency. But his administration actively encouraged the big deregulatory legislation, and squashed its own dissenters, like Brooksley Born, who saw disaster ahead.


  13. Jamie Dimon Agonistes: Sam Seder and Matt Taibbi Discuss the SpokesModels of the Financial Press

    In defense of CNBC, Fox and Bloomberg are no better. I have heard the same meme on JPM and Wall Street there, many times. It is a mind set that puts the Wall Street apart from reality.


    watch the video...everyone knows everything is a joke...but the msm will deny it to the end.

    1. Here's a very funny story about Maria Bartiromo. At one point she was dating Michael Price, the distressed fund guru who sold his business to Franklin Funds for a small fortune. She was so nuts about the guy that she shaved his initials "M.P." into her pubic hair. I know this story is true.

  14. GATA secretary interviewed on CNBC Asia about gold market manipulation

    Your secretary/treasurer was interviewed about gold market manipulation for about five minutes this morning on CNBC Asia's "The Call" program with Bernie Lo. Video is posted at the CNBC Internet site here: