Wednesday, October 16, 2013

Obama's Frankenstein

First, as a follow-up to yesterday's post, I'd like to comment that I find it truly amusing that the stock market has shot up over 1% today on the fantastic news that Congress has reached a deal that will give the Government the ability to ramp up spending deficits and debt outstanding for another four months.  I guess when you're trapped in a speeding car with no brakes and headed for a cliff, you may as well celebrate and make whoopie until the car goes over the edge...

I wanted to present an informative piece about Obamacare, written by a doctor who seems to have caring for her patients as her only real agenda.

Before I link the article, what I would love know - and I wish one of the media's zombie-like reporters would directly ask Obama this question and not give up until he gives an answer - is whether or not Barack envisioned that most big companies would downsize as much as possible their labor force from full-time to part-time in order to shed the cost of providing health care onto the individual and the Government.  As  the non-farm payroll data has shown - and for as manipulated as the numbers are, the Government can't hide the fact that big companies are shifting their workforce from full-time to part-time jobs - the percentage of part-time jobs vs. full-time jobs in the economy has increased this year.  And overall the percentage of people who are actually counted as part of the labor force is at 30-year lows.

I guess what's most ironic about Obamacare is that - despite the El Hefe's claim that Obamacare would create jobs and cut the cost of health care for everyone - full-time jobs are being shed and, as you'll read below, the cost of health care for most people is going to go up dramatically while the quality declines.  You'll also note that doctors are now rolling out what is being referred to as "concierge," fee-for-service practices.  In other words, for those who can afford it - and that's a very small percentage of the population - doctors will set up practices for those who will pay out of their pocket for superior health care.  I wonder if Obama saw that coming...

In addition, the cost of implementing and rolling out Obamacare has already far exceeded what we told it going to cost the taxpayers.  Obama is one of the best natural-born liars I have ever seen.

Here's the article which gets the the golden truth about Obama's Frankenstein, aka the Affordable Healthcare Act:  10 Things To Expect From Obamacare In 2014

It's frightening to contemplate that there's people in this country who still approve of the job Obama is doing.  But it's truly horrific to think about what Obama and his Monster are going to do to our system and way of life.


  1. Let Them Eat Cake; Off With Their Heads!

    Published on Oct 15, 2013
    A quick look at the work of Professor Peter Turchin; Peter Turchin

  2. I think that the ACA is going to be a disaster for the USA - unless you're part of the oligarchy of political elites and technocrats that received a "get out of jail free" card. The Republicans should have played this by simply waiting for the inevitable "buyers remorse" by everyone over ACA. Patience is a virtue.

    Its not "different this time." Govt's are terrible at running anything.

    “If you put the federal government in charge of the Sahara Desert, in five years there'd be a shortage of sand.” - Milton Friedman

  3. Chase Bank Limits Cash Withdrawals, Bans International Wire Transfers

    Paul Joseph Watson
    October 16, 2013

    Chase Bank has moved to limit cash withdrawals while banning business customers from sending international wire transfers from November 17 onwards, prompting speculation that the bank is preparing for a looming financial crisis in the United States.

    1. Ya I saw that. Something really dark is going on in our system behind the scenes. I don't look at that as a capital control issue per se as much as I think it has to do with JPM's international liquidity situation. Why would they stop small businesses from doing international wires. The reason they give is to "better manage the risks associated with these transactions." But what risk does a bank have on a wire transaction other than defaulting on it?

    2. This does not look good, though it does apparently apply--for now--only to Chase BusinessSelect and BusinessClassic checking accounts. But the size of cap on wire transfers is staggering: now it's $50K per month; before it was $100K PER DAY...!wiretransferstab:wiretransferstab3 (from a Chase tweet dated 9/26/13; I must point out that Chase's wire fees are confiscatory; my credit union charges $6)

      One puzzlement for months has been the INCREASING amount of deposits that lack FDIC insurance. In the most recent reports (2Q13) it's almost $4 trillion ($9.937T domestic deposits - $5.966T insured deposits). Compare... ...with...

      If the new wire limits were to apply to ALL accounts, not just to Chase bus.chkg.accts., then there's roughly $4 trillion that's now a sitting duck--ripe for the picking in a bail-in scenario.

      If you've got over $250K in an account, consider yourself warned with this Chase matter (though you probably don't care because you're insane to begin with): GTFO NOW.

    3. $250K? I don't even have $2,500 in the banks. Poor guys like me can't even fathom having that much money, let alone leaving all that much money in one bank.

    4. Better have something to live off of when you lose your job, i.e. "The New Normal". although cash sucks, you still have to pay your bills with it. You don't have to have it in the banks but you do have to have it.

  4. Another U.S. Whistleblower Behind Bars? Investor Jailed After Exposing Corrupt Azerbaijani Oil Deal

    In a Democracy Now! exclusive, we look at the case of multimillionaire American businessman and philanthropist Rick Bourke, who blew the whistle on a fraudulent scheme by international criminals to gain control of the oil riches of the former Soviet Republic of Azerbaijan — only to end up as the only person sent to jail by federal prosecutors in the massive conspiracy. Since May, Bourke has been held in a federal prison, serving a term of one year and one day for violating the Foreign Corrupt Practices Act for alleged knowledge of the bribery that allegedly took place in 1998. Other investors in the Azerbaijan scheme included former Democratic Senate Majority leader George Mitchell and major institutions including Columbia University and AIG, but no one else was jailed in the United States. High-ranking former U.S. and British officials from the CIA and MI6 have raised serious concerns about the conviction of Bourke in part because the key witnesses during his trial were allegedly intelligence assets working for the U.S. government. They are not the only ones who question Bourke’s guilt. Even the judge in his case has admitted having doubts. At the time of Bourke’s sentencing, Shira Scheindlin of the Federal District Court said, "After 10 years of supervising this case, it is still not entirely clear to me whether Mr. Bourke was a victim, or a crook, or a little bit of both." We speak to Bourke’s lawyer, the law professor and renowned attorney Michael Tigar, as well as former Washington Post reporter Scott Armstrong. "Why is it that they would go after the guy that blew the whistle on the thievery and bribery, Rick Bourke?" Tigar asks. "Why is it that the Czech citizen and the guy, the ex-patriot, and the German-Swiss lawyer all are walking free; the American citizen, philanthropist, and so on, is sitting in a minimum security jail? Well, investment in the Azerbaijan hydrocarbon industry is now safely in the hands of major petroleum companies. Is that a reason?"

    The only sacrifices are made by the whistle blower.

  5. Off the topic, Dave. Bill Kaye claims that some investors were denied the redemption requests by GLD APs. Do you have any contact to confirm this or have you ever tried to redeem yourself?

    1. Been waiting to see something that's more than just hear-say on that myself.

      It wouldn't surprise me, because if you read the through the prospectus you'll see that the trustee/sponser has made it quite onerous to redeem shares for gold unless you're one of the big bank "approved participants."

  6. It’s one of those times when history accelerates. Whatever the outcome of the negotiations on the shutdown and debt ceiling, October 2013 is one of them. It’s the deadlock too far which has opened the eyes of those who still support the United States. A leader is followed when he is believed, not when he is ridiculous.

    “Building a de-Americanised world”: this statement would have raised a smile a few years ago. At most it would have passed for provocation by Hugo Chavez. But when we are seeing the United States’ bankruptcy in real-time and it’s an official Chinese press agency that says so, the impact isn’t the same. In reality, it’s describing out loud a process which is already well underway: simply, it’s now allowed to speak about it in public. At least US government deadlock has the merit of loosening tongues. Let there be no mistake, this analysis hasn’t appeared in the Chinese media by chance, and it reflects Beijing’s hardening tone.

    In fact, if the whole world is holding its breath before this pathetic game of the US elite; it’s not out of compassion, it’s to avoid being swept away in the fall of the world’s first power. Everyone is trying to free itself from American influence and let go of a United States permanently discredited by recent events over Syria, tapering, shutdown and now the debt ceiling. The legendary US power is now no more than a nuisance and the world has understood that it’s time to de-Americanise.

    Countries with large holdings of US Treasury bonds , which feel held hostage by the United States - They are stunned by the US’ indefensible casualness and by the irresponsible attitude of who, until recently, was “the boss”. If the country defaults on its debt the shockwaves will certainly be terrible. However, this wouldn’t be the end of the world because a possible default could simply take the form of delayed payment for the few days; moreover different parts of the world would be unequally affected according to the extent of their de-coupling from the US economy. No, the country that will suffer most from this solution (and any other for that matter) will really be the United States itself. For the record it holds two thirds of its own public debt.

  7. Trustee: No More Money For Corzine Lawyers

    Calling former MF Global Holdings CEO Jon Corzine's legal bills "exorbitant," the court-appointed trustee for the collapsed futures brokerage has opposed his request for more insurance money to cover them.

    Nader Takavoli told U.S. Bankruptcy Judge Martin Glenn that he should reject the bid from Corzine and other former MF Global executives facing lawsuits for an additional $10 million. Glenn blocked the request last month to give an MF Global customer's appeal a chance to be heard.

    For their parts, Corzine and his former colleagues have asked Glenn to reconsider.

    That is something he should definitely not do, Takavoli wrote.

    "From February through September 2013, defense fees incurred to date exceed $40 million, a figure that has never been adequately explained or justified, and which suggests duplication of efforts among the Individual Insureds' professionals," he wrote Friday.

    Corzine and the others face nearly two dozen lawsuits stemming from MF Global's collapse two years ago.

    what a system...

  8. How bad r things that this was announced on a weekday, not over the weekend?
    they couldn't wait till the w/e!
    Timing is ugly; others have figured out that the new $100 note out Oct 8 is only the vanguard of a whole new set of FRN notes, which one day soon will be declared not just legal tender, but the only legal tender for circulation. So any cash, older bills anywhere will be worthless.
    including any & all $100 bills residing overseas.
    not sure what the spook agencies & drug dealers will use, as I hear it and the 500 Euro are the mainstay all over the world.
    they just luv those bagfuls of cold hard cash redeposited daily into their banks all over the world.

  9. Both parties don't care for us. They knew how bad it was - that's why they are exempt and have their own plan. This was a way to return favors to their paymasters.

  10. Thursday, October 17, 2013
    Neocon Brags That The U.S. Is A Well-Armed Deadbeat
    By, Chris Rossini

    You're about to see what a case of debt addiction mixed with thuggish bravado looks like.

    Here's how neocon Max Boot assesses the creditor/debtor relationship between China and the U.S.:

    Thankfully the U.S. armed forces are still strong enough—for the time being anyway—to prevent the Chinese military from showing up on our shores to collect the trillions we owe them.

    Before you get worried...China is not "showing up on our shores," nor do I believe they'll show up after the U.S. can no longer avoid officially defaulting.

    But looking beyond the obvious, how about the pomposity displayed by Boot?

    In essence, he's saying 'Lend us your money, but don't you dare think about collecting.' It's ironic that with all the anti-bullying propaganda that the government spews, Boot is doing nothing but describing the biggest bully of them all: the deadbeat government that has a "strong enough" military to keep the zombie scenario alive.

  11. This might help to clarify some things regarding our wonderful government :
    Dave, there is an advertisement at the end so I wouldn't hold it against you if yo plan on not releasing this info.

  12. Journal Ordered Not to Divulge Libor Names
    U.K. Prosecutors Win Injunction Amid Investigation

    A British judge ordered the Journal and David Enrich, the newspaper's European banking editor, to comply with a request by the U.K.'s Serious Fraud Office prohibiting the newspaper from publishing names of individuals not yet made public in the government's ongoing investigation into alleged manipulation of the London interbank offered rate, or Libor.

    The order, which applies to publication in England and Wales, also demanded that the Journal remove "any existing Internet publication" divulging the details. It threatened Mr. Enrich and "any third party" with penalties including a fine, imprisonment and asset seizure.

    The Journal received word of the order from the SFO by email at 7:18 p.m. London time. The news organization already had published on Dow Jones Newswires and the Journal's website,, an article by Mr. Enrich and reporter Jenny Strasburg that divulged names of traders and brokers that British prosecutors expect to publicly name next week. The article was taken down from the website but appears in Friday's print editions of the Journal circulated in the U.S. and in Asia.

    The article said the government was preparing to name roughly two dozen traders and brokers, adding that prosecutors were still finalizing their plans and that the list could change, citing people familiar with the process. Inclusion on the list doesn't represent a formal accusation of wrongdoing and doesn't mean the individuals will be charged with crimes.

    "This injunction is a serious affront to press freedom," said Dow Jones & Co., publisher of the Journal. "We have been left with no choice but to remove the previously published story from and to withhold publication from the print edition of The Wall Street Journal Europe. However, we will continue to vigorously fight the injunction in the coming days."

  13. New York is Drowning in Bribes and Corruption

    Preet Bharara, representing the U.S. Department of Justice as U.S. Attorney for the Southern District of New York, the district that has failed to rein in the serial crimes by Wall Street’s biggest firms, said that “Public corruption, based on all the evidence, appears rampant. And the ranks of those convicted in office have swelled to absolutely unacceptable levels.” Bharara said that his office has had to prosecute “State Senators as well as State Assemblymen; elected officials as well as party leaders; city council members as well as town mayors; Democrats as well as Republicans.” It was likely little comfort to the audience that it’s a bipartisan crime wave.

    The U.S. Attorney for the Eastern District of New York, Loretta Lynch, testified that there is a “pervasive problem of corruption by elected and appointed officials” in New York, citing former State Senate Majority Leader Pedro Espada who was convicted of stealing funds from Soundview Health Clinic, a federally funded clinic he operated in the Bronx. Lynch also called out former State Senator Shirley Huntley, who was sent to prison for her role in stealing funds from Parents Information Network, a non-profit organization she established to assist parents of New York City public schoolchildren.

    Dick Dadey, Executive Director of Citizens Union, testified that “there is a crime wave of corruption” and it has been increasing over the past 12 years.

    When it came time for the general public to testify about public corruption, it wasn’t legislative leaders the witnesses railed against, it was corrupt judges. Multiple witnesses testified to having real estate property stolen through corrupt court proceedings. One witness, Dale Javino, said he was cheated out of his life savings in bankruptcy court and what happened to him “is like what happens in Nazi Germany…”

    Leon Koziol testified that the retribution he sustained after reporting unethical judges to authorities “reads like a John Grisham novel…”