Wednesday, January 4, 2012

Happy New Year (LOL)

This is a crime on the same level as that of Bernie Madoff, only it involves an ex-Senator/Governor, the two most prestigious Wall Street investment banks, the CME, the CFTC, politicians, judges and even the Obama Administration.   That this crime is going unprosecuted and the main perpetrator, Jon Corzine, is not waiting his justice in jail, is the latest, largest and most obvious signal that the United States as it was created and has existed is in full-scale collapse  - Dave in Denver on MF Global
On that cheery thought, Happy New Year!

By now most of you have read the story about how MF Global sold assets to Goldman Sachs and JP Morgan "cleared" the trades right before MF Global filed.  JP Morgan refuses to give up the funds that it is holding from these trades.  Please keep in mind that the bankruptcy trustee could force JP Morgan to relinquish these funds but is not.  Coincidentally (wink wink) JP Morgan happens to be a significant client of the bankruptcy trustee's law firm.  Let's see:  Jon Corzine was the CEO of Goldman Sachs and his number one lieutenant was Gary Gensler, who happens to be the chairman of the CFTC, the regulatory body that oversees firms like MF Global.  Jon Corzine also happens to have been Vice President Biden's financial adviser and has spent plenty of time with Obama in the Oval office.  See where this is going?  This is grand scale theft in the billions and it is being enabled by those who were entrusted to enforce the laws and prevent this from happening, all the way up the President. 

In other words, the United States is now a full-scale banana republic and we are watching the full-scale historic collapse of an Empire.  From an intellectual standpoint, I find this thoroughly engaging and fascinating to observe.  Fortunately I have come to the conclusion that there is nothing that can done about it so I've decided to look at it with a healthy dose of humor - the type of humor that is derived from the appreciation of the absurd.  Try to enjoy your life as much as possible and don't let the full-scale theft and corruption going on agitate you.  There's nothing you can do about it and Obama has made it crystal clear that not only is he not going to try and CHANGE it, he's actually become part of it.  Period.

Still wanna believe the garbage that Obama, Geithner, Bernanke and Wall Street are preaching about an "economic recovery?"  To begin with, I'm sure many of you have already seen the articles published that detail how retail sales from Black Friday on through the end of the year were not nearly as strong as the hypesters were projecting and reporting.   Even more disturbing, it now looks like a lot of the buying was nothing more than "retail therapy" and it now appears as if there will be a record number of returns.  I thought I had saved an article link but I guess not.  You can google the topic to see for yourself. 

But this is even MORE interesting and it comes from a grass-roots source.  An acquaintance of mine works for the IRS and sent me this email the other day:
I wanted to tell you a little information concerning taxes that is not on anyone's radar (sort of like a stealth aircraft of information).  Since about late 2008 early 2009, the requests for payment plans to the IRS has tripled. People out there just don't have the money to pay their taxes in full, so they need a payment plan to keep IRS at bay. Even with a payment plan in place, the interest on taxes due keep adding up and the penalties for not paying on time and not paying in full keep adding up, keeping taxpayers in debt to Uncle Sam, meaning they have less disposable income to spend and invest meaning less money for the economy to grow.  I have seen the requests for payment plans to the IRS triple with my own eyes...
So there you have it.  The economy is bad, it's getting worse and the Government will have no choice but to print a lot more money.  Like trillions.   Got gold?



  2. But remember Dave were all Terrorists ha ha ha Fuck them, Fuck them all and the horses they rode in on.
    In the end its every man for himself...keep preparing accordingly.

  3. Dave, you watch yourself. Speaking the truth like this can get you an indefinite detention in a foreign jail.
    PS. Picked up some Ag yesterday. Is that good enough?

  4. another issue on tax payment plans:

    I know folks who took money out of 401ks, IRA's company stock option plans, etc (not to buy physical) to pay for living costs--when they pulled the $$ out they did not w/h tax, or w/h at 20% when real incremental rate was higher. Thus they had taxes due and did not have money to cover the taxes--except of course taking more money out of retirement plan.

    Some reported the income and some did not (maybe hoping the IRS software would miss it)

    in any even, these folks are as deep underwater with taxes as with homes.

  5. I wonder if those people on tax plans will charge them to credit cards and then go bankrupt?..

    Ann Barnhardt: The Financial System House of Cards Is Ready to Topple
    Living on Borrowed Time

  6. Ann Barnhardt was just featured on another interview over on Financial Sense. It was excellent, and she tore Corzine and Jamie Dimon new assholes. During the interview, she pretty much motherfucked the entire financial system in this country as being run by a corrupt oligarchy. Nothing new there, but still a damn well-deserved indictment of the shit-eating greedy scoundrels from JPM and GS who are constantly sucking off and paying off, and vice versa, their bought politicians.

  7. New York governor urges mandatory DNA samples

    New York's governor on Wednesday proposed making the state the first in the country to take mandatory DNA samples from anyone convicted of a crime, including relatively lesser offenses.

    Governor Andrew Cuomo, in an annual "State of the State" speech to the New York legislature, said currently DNA was collected in less than half of crimes on the books.

    "I will propose a bill requiring the collection of a DNA sample from any person convicted of a felony or Penal Law misdemeanor," said Cuomo, a former federal prosecutor and New York state attorney general.

    Cuomo said that applying DNA collection to all criminals would both help law-enforcement bodies fight serious crime and protect against wrongful convictions.

    Current exclusions include "numerous crimes that are often precursors to violent offenses," he said.

    Section 240.10 Unlawful assembly

    A person is guilty of unlawful assembly when he assembles with four or more other persons for the purpose of engaging or preparing to engage with them in tumultuous and violent conduct likely to cause public alarm, or when, being present at an assembly which either has or develops such purpose, he remains there with intent to advance that purpose.

    Unlawful assembly is a class B misdemeanor.

  8. When the real estate mogul slash Ommpa Loompa (Angelo Mozillo) only had to pay a fine instead of serving time for the stuff he pulled during the real estate bubble, then you knew right then and there that the chances of bringing the bad guys to justice didn't exist.

    I'm not really a fan of Star Trek, but some of the lines attributed to the Ferengi seem to strike a cord, such as these gems found online-

    -The vast majority of the rich in this galaxy did not inherit their wealth; they stole it.

    -Greed is eternal.

    -Law makes everyone equal, but justice goes to the highest bidder.

    -Never offer a confession when a bribe will do.

    -Let others keep their reputation. You keep their money

    -Rich men don't come to buy; they come to take.

    -Everything is for sale, even friendship.

    -Loyalty can be bought ... and sold.

    -You can always buy back a lost reputation. (I think Milken did just that.)

    Who knew Wall Street and banksters not only memorized the Ferengi Rules of Acquisition but treat those writings as their Bible?

  9. The whole System is corrupt, across the board, top to bottom. The IRS is not immune. Yes, we've been programmed to "jump" when the IRS says "frog", i.e. the ultimate fear based program in America. But when you do some intelligent research, you'll find how baseless that whole organization is and the ponzi scam they implement (It's hard to believe, huh? Who wants to admit they've been reamed most of their life? It's one of the very hardest of pills to swallow). The IRS are the "hit men" for the Mafia Fed. Go ahead. On April 15, DO AS YOU ARE TOLD. DO NOT THINK OUTSIDE OF YOUR ILLUSORY BOX. PAY THEM YOUR HARD EARNED DOLLARS. If you don't they will take away your life. HEY, WAIT A MINUTE! Haven't "they" already taken away your life if they control you out of fear?

    And then to rub it in, look what they do with your hard earned dollars. How do you say politely, bend over and grab your ankles?

    Glad I opted out of that scam, long ago.

  10. State Sponsored Thievery Continues in Plain Sight

    But even before we start dealing with the restructuring, we must stop the rampant gaming-the-system that continues to make a horrible situation even worse. We’ve all heard stories of public employees who retire, collect a big disability pension, but take another job at full pay displaying no signs of their disability. Even a healthy teacher can retire, still continue to work and collect $31,200 a year while receiving a full pension.

    But there is one abuse that has received very little attention: purchasing service credit or “air time.”

    Air time fleeces taxpayers in 21 states including California. It means very simply that public employees can plunk down some cash and purchase “years on the job” which can add a significant amount of money to their pension. In fact, pensions can be boosted up to 25% using this scam. Dan Pellissier, a adviser to California’s previous governor, Arnold Schwarzenegger, paid $75,000 in 2004 for five years of work credit. When he turns 55 in 2015, he will get a pension of $61,536 a year — almost $13,000 more than if he hadn’t bought air time. That’s $320,000 extra by the time he is 80.

    For teachers, the results can also be dramatic. The CalSTRS website does a bang up job letting teachers know how best to game the system and screw the taxpayer…er, I mean, the website does an excellent job of explaining teachers’ “air time” rights. In a simple two page document, they explain just how it works for “Rick.”

    “This year, if Rick purchases one year of service credit when he is 32 and his highest annual earnable compensation for the last three years is $35,000, his $100 extra a month will cost $5,950.”

  11. You are a racist, because Obama knows Corzine you some how make the connection that it is Obama's fault??? Seriously!! Bush fucked alot more people

  12. dave;

    I am one of those Americans who was forced to cash in a 401k. Do you remember Dear Leader telling us we could access 401k money without penalty before his election? I do.

    In 2009, I tapped a high 5 fig account. I got burnt for about 20+% by the FEDs and another 6% by the State. I lost nearly 30% off the top.

    But alas, they had the 10% penalty on early withdrawals. I did not pay it. That's how so many of us are on the fucking IRS payment plan. We didn't pay the penalties.

    So the crony government ripped us off with bankers. Then they got us again when we had to retrieve our only supply of money. Now they rip us off a third time by charging penalties and interest.

    Loansharks and the Mafia take note. You fuckers are just pikers.

    The government thieves are professionals.

  13. RE the rascist comment: fuck Bush, fuck Obama, and fuck you. I'm not a racist, I hate everyone lol.

  14. First Time Ever: Silver Sales Surpass Domestic Production

    Here we can see that U.S. silver production has declined 50% since its high of 70 million ounces in 1997. In 1997 American Silver Eagle sales were 3.6 million, which accounted for only 5% of domestic silver production. Contrasted to today, Silver Eagle sales are estimated to reach 40 million while domestic mine supply will decline to 35 million ounces in 2011. Thus, American Silver Eagle sales will be 114% of the total U.S. silver supply in 2011… what a difference in 14 years. This trend is also taking place in the country’s northern neighbor

    Canadian Maple Leaf Sales Outperform Silver Eagles in Percentage Growth

    If these figures are correct and the Royal Canadian Mint does sell 22.5 million Silver Maple Leaf coins in 2011, it will be at a rate of 121% of their domestic silver production. 2011 will be the first year in which both the U.S. and Canada will sell more Silver Eagles & Maples than what is available from their respective silver mining supplies.

  15. Dave, have you thought about fleeing to another country? I seem to be reading about more and more people choosing that option.

  16. Oh ya. Talked about it since 2002 with an old colleague. He's got a boat packed and heavily armed and took off in late Oct. He's back now for to tie up some loose ends and then he's gonzo.

    But where ya gonna go? It will be bad everywhere. And my buddy told me just a few days ago that Americans are not well liked in most places he sailed around...

  17. When I drive through a trashy neighborhood, drinking my diet coke from McDonalds, I could just toss the empty cup out the window with the rest of the trash. Or I could stop, and pick up one piece of trash to be disposed of properly. That is how I feel about gold. Buying what little I can is the ONLY thing I can do about the Corzines of the Paper Kingdom. If everybody stopped throwing trash in the street and bought one little piece of gold, before you know it that trashy neighborhood would be spic and span.

  18. 2 Weeks Before MF Global's Bankruptcy, Jon Corzine And His Wife Went French Chateau Shopping

    Read more:

  19. pretty interesting...cspan

    Chris Hedges Interview

  20. "...But where ya gonna go?..."

    I am looking into Switzerland (my money is there already, and I can buy a Class B residency permit by investing 500K CHF in a local business) and Uruguay. Both are stable, European, and good places to grow a garden and pasture a goat, cow, or steer.