Bits Bucket for June 8, 2014
Post off-topic ideas, links, and Craigslist finds here.
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
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Just over a week until I’m in Rio. RioAmerican send me an email I could use some local advice stephenmaurice@yahoo.com
Don’t hold your breath, but he’ll give you some great tips on Brazilian restaurants in DC.
You’ll likely get rolled by her pimp.
Don’t drink the water.
If you wiki-up “banks runs” you will get to learn this:
Prevention and mitigation
Several techniques have been used to help prevent or mitigate bank runs.
Individual banks
Some prevention techniques apply to individual banks, independently of the rest of the economy.
Banks often project an appearance of stability, with solid architecture and conservative dress.
A bank may try to hide information that might spark a run. For example, in the days before deposit insurance, it made sense for a bank to have a large lobby and fast service, to prevent the formation of a line of depositors extending out into the street which might cause passers-by to infer a bank run.
A bank may try to slow down the bank run by artificially slowing the process. One technique is to get a large number of friends and family of bank employees to stand in line and make a large number of small, slow transactions.
Scheduling prominent deliveries of cash can convince participants in a bank run that there is no need to withdraw deposits hastily.
Banks can encourage customers to make term deposits that cannot be withdrawn on demand. If term deposits form a high enough percentage of a bank’s liabilities its vulnerability to bank runs will be reduced considerably. The drawback is that banks have to pay a higher interest rate on term deposits.
A bank can temporarily suspend withdrawals to stop a run; this is called suspension of convertibility. In many cases the threat of suspension prevents the run, which means the threat need not be carried out.
Emergency acquisition of a vulnerable bank by another institution with stronger capital reserves. This technique is commonly used by the U.S. Federal Deposit Insurance Corporation to dispose of insolvent banks, rather than paying depositors directly from its own funds.
To clean up after a bank failure, the government may set up a “bad bank”, which is a new government-run asset management corporation that buys individual nonperforming assets from one or more private banks, reducing the proportion of junk bonds in their asset pools, and then acts as the creditor in the insolvency cases that follow. This, however, creates a moral hazard problem, essentially subsidizing bankruptcy: temporarily underperforming debtors can be forced to file for bankruptcy in order to make them eligible to be sold to the bad bank
They will probably make it a capital crime for anyone to encourage a bank run.
I think they will use any technique that works. The first few techniques listed were psychological, the rest were of another nature.
Apparently the bottom line is: The banks must and will be saved by any means necessary
“They simply won’t allow a bank run – it’s against the rules!”
Secret European Cash Limits in Place
by Mark Kempton | June 8, 2014
Some of you might remember the recent scandal where #HSBC tried to impose cash withdraw limits on their accounts:
http://www.bbc.com/news/business-25861717
Well it turns out that was just a trial balloon, to see how the public might react to withdraw limits being public knowledge. Limits that are already in place!
Let me tell you what my sources are telling me.
They have tried to withdraw large amounts in cash from a bank. They were told quite categorically “No, you cannot have this amount in cash”. They then asked if they could make an appointment to receive the amount in cash and were told “No”.
Just an awkward bank clerk right?
They then proceeded to transfer the balance to another bank, and tried to make the same withdraw. They received exactly the same response “No, No, No, No, you can’t have your money”.
So what’s going on?
The #European Union is fearful of a systemic bank run taking place. After all, they have already seen bank runs in Cyprus (a successful testing ground) and other peripheral countries. Such a bank run would overwhelm even the European Central Bank.
But their steps to prevent this have been interesting to say the least…… They simply won’t allow a bank run – it’s against the rules!
What rules you say? Well, these vary from bank to bank and I’ve assembled them from a few different sources, but here they are:
- A depositor can only withdraw ~10% of their balance in large-scale cash per year.
- These limits do not apply to small one-time incidents such as ~5000 euros.
- All large cash withdraws must have a “valid” reason given. Hint: “I don’t trust my bank”, is not a valid reason.
- Daily cash machine limits are exempt.
Since the majority of cash withdraws are not large, these rules go unnoticed. But if they see an excessive/unusual amount of small daily withdraws taking place they can easily tighten these limits – all the procedures are in place.
So what are the implications of this?
Quite simple really. There won’t be a bank run in #Europe – because it’s no longer allowed. Just like a toddler, you will NOT be allowed to play with matches!!
So given the system is tearing itself apart at the seams, we’d better start looking for the weaker stitching somewhere else!
As to whether this system is in place in the #US yet I cannot say. If it isn’t yet it soon will be.
So what are the implications of this?
some form of very secure storage will show up where one can safely keep their money or gold for a relatively small fee. of course they won’t be safe deposit boxes. will have to be something different.
You should have thick bricks of cash out of the bank somewhere, also tubes of silver or quarter ounce platinum/gold. And add to that some crypto currency in an encrypted electronic wallet. This is part of the movable, hidable insurance strategy. All these assets can fit in a tiny space in a non obvious location.
But your whiskey collection takes up space - it’s still movable and worth something. Drinkers gotta drink.
“some form of very secure storage will show up where one can safely keep their money or gold for a relatively small fee.”
There are some non-obvious places of that category that I know of and use. Certainly bank safe deposit boxes are obvious. Just think different from the others.
Man improvises very well. Like picking up a stick to remove progressives (is that a 4 letter word?) from underneath his shoe while tramping through a cattle yard.
You ok if you encourage a bank walk or even a stagger?
or just keep a portion of freshly minted dollars that haven’t been legally brought into the system, in ‘the basement’. they are technically worthless until proper procedures bring them into existence. then this ‘ghost’ money can be doled out when there is a run, and when things calm down again, they can be ‘repatriated’ with older dollars that naturally come into the bank. in a short time they could balance everything out and people other than the bank would never even know there had been a run.
of course this ghost money would have to be specially guarded because if it’s not repatriated right away it becomes instant inflation. it would have to never seen the light of day until a run happened.
ghost money could be printed with no consequence to any balance sheet except, the ones that specifically track the ghost money. technically, they never become real dollars.
of course then the temptation would be there to lower reserve ratios. that would be dangerous, so there should be very strict rules in place to prevent it. if they could understand that they’re playing with dynamite, and never breach the rules to keep the reserve ratios high, it would make the system very stable. don’t know if it could really be done, but i don’t see why not.
Interesting line of thought - thanks, tj.
you’re welcome MacBeth.
it would involve intense tracking of serial numbers, but with today’s technology, it shouldn’t be a problem.
i’ve thought a lot about this in the past, but until today’s post by combo, i had no reason to bring it up.
The more I read about this dumping of illegal immigrants and their spawn in Arizona, I am convinced that this action is being taken by the pretender in the White House for a number of reasons:
1) It’s payback for Jan Brewer and other playahs like Juan McCain (even though he is a victim of Stockholm Syndrome and should never have held any sort of office whatever).
2) It’s payback to the Republican controlled House of Representatives for not backing the shamnasty.
3) It’s payback to the US citizens, period. Most especially those of the Anglo persuasion. It is meant to deliberately socially engineer the racial cultural and economic mix of population in the US. At the expense of productive citizens. It is deliberately done to wipe out the middle class and it’s not just the administration that wants to see this done, it’s the 1% as well.
4) This is in effect a crime of major proportions by the administration. All parties involved are guilty of treason, pure and simple, and should be taken into custody, ASAP. Even those on the “other side” who remain silent and won’t move to impeach. It’s an invasion perpetrated by the occupation gov’t of Washington.
Can something be done about it? Absolutely. But I doubt if citizens are up to it, as they have already been carefully divided over time. Please note that this is combined with the recent Bowe Bergdahl dust-up, which is deliberately meant to demoralize members of the military. Not that I am a military boot licker, but elements of the US that might move to do something about it, are being/have been strategically neutered.
Those who “follow the rules” and “obey the laws” are at a severe disadvantage. That fact needs to be confronted. There is no more US, no nation of laws. Not when the branches of gov don’t even bother following the laws themselves.
Why do they keep trying to report it as if very young children are not accompanied by adults. They are with adults and the adults are getting in also.
The Fourth Estate is a complete joke. Much if not most of it has degenerated into propaganda. At least the Soviet Union had the decency to concentrate their propaganda in one organization. The MSM has crapped its own bed and has the gall to whine about “Freedom of the Press”. They destroyed their own freedom, and maybe in the end, that’s true of many US citizens as well.
There are decent journalists, but most are stifled or even assassinated.
It is a manufactured crisis to allow political cover for the executive orders to follow basically allowing amnesty with the stroke of a pen. They know it won’t pass as a law, so now they have to go this route to get it done. Manufactured crisis. Think of the children.
The collaborators in the MSM are eating it up.
I’m reading Glenn Greenwald’s “No Place To Hide”. It is about his meeting and publicizing Erik Snowden’s whistle blowing on NSA. Greenwald is a journalist. One of the critics, Rachel Maddow refers to Greenwald as the “American Left’s most fearless political commentator” - even though these NSA powers have been strengthened for six years under a far leftist POTUS.
With a “leftist” journalist like Greenwald to be a thorn in the side of the leftest Obama, maybe there is hope for American journalism.
Left and right is a false dualism the PTB use to keep us fighting amongst ourselves.
‘Progressive hero Noam Chomsky is terrified of the surveillance state that has developed during the tenure of President Barack Obama, calling it a grave threat to our fundamental civil liberties. In a column published Monday, Chomsky writes that the documents revealed to the public by Edward Snowden show a system that is flagrantly violating the principles of the Constitution.’
“It is of no slight import that the project is being executed in one of the freest countries in the world, and in radical violation of the U.S. Constitution’s Bill of Rights, which protects citizens from ‘unreasonable searches and seizures,’ and guarantees the privacy of their persons, houses, papers and effects,” Chomsky said. “Much as government lawyers may try, there is no way to reconcile these principles with the assault on the population revealed in the Snowden documents.”
The 4th amendment violation these days has created strange bedfellows. Sadly, the “Patriot Act” was applauded by Republicans (minus of course Ron Paul) when it was passed under GWB. And lots of right wingers would say “I have nothing to hide” (by the way, there are several places in Greenwald’s book that take the “nothing to hide” argument to task).
Then these days many right wingers are now shocked, SHOCKED…about the NSA. I wonder now if they get a brain and regret their support of the establishment of “The Patriot Act.” Will they admit they made a mistake?
In my case like Erik Snowden’s case, I was horrified about the 9/11 attacks. Erik Snowden was horrified by those attacks and like any patriot wanted to do his patriotic duty to stop terrorism.
In my case the revelations Erik Snowden made through Greenwald horrified me. I was never accepting the full Patriot act and anticipated that it was temporary. Like the Sedition act of 1798 and of 1918 - they were temporary and allowed to expire. But this “Patriot Act” is more than 11 years old and was renewed under a Leftist president.
When the “left wing” and “right wing” establishment both support violations of your 4th amendment, you tend to turn to voluntaryism or at least libertarianism.
Ron Paul was right. How much longer will Americans keep repeating the chant like monkees “Ron Paul is crazy”?
“Left and right is a false dualism the PTB use to keep us fighting amongst ourselves.”
Correct. It’s why folks like Rio are paid to post here. It’s also why I stopped reading Rio’s posts several months ago.
How can you resist his insanity? Sure the obvious cut and paste old articles are one thing, but the stuff where he is throwing overripe mangos at angry monkeys is gold.
“How can you resist his insanity?”
Assuming you are addressing me, Touro, the answer is simple:
Rio offers no ROI whatsoever.
The ROI is comedy gold! Juggling mangos in front of webcams!
Well, we know that ethics and morals mean little to our pals in Washington.
We know that the Obama administration has actively pursued the firing and replacing of numerous heads of the military.
We know that contract law means little to those living in the Washington metro area.
We know that the NeoCon-Progressive party members are in control of the country. We know that they are not part of the middle class. We have ex Goldman Sachs people running around in the US. cabinet.
We know that Washington DC is the wealthiest metropolitan area across all the land. (I would like to see where that metro lands in terms of producing profit. What is DC’s ROI to the rest of the country?)
About two weeks ago now, someone here said that Washington DC is no longer part of the United States. A great statement. One of the best I’ve ever seen on this board.
“About two weeks ago now, someone here said that Washington DC is no longer part of the United States. A great statement. One of the best I’ve ever seen on this board.”
I’ll take credit for posting that, but I think I might have gotten that from somewhere else.
But it made sense to me. There’s Washington, and there’s the US. Two different entities. Washington is the occupation government of the US.
I honestly can’t remember where I got that. I remember reading a statement that Washington is the occupation government of the US.
I just think it is important that people realize this. Until they do, there will be much confusion, as there is already. Once this point is confronted, it is much easier to understand why things are as they are, why certain actions are taken, etc. Things begin to make sense.
It IS a tough thing to confront and a lot of people can’t do it. But isn’t it much easier to make plans and protect yourself when you know what you’re dealing with?
Arizona sends supplies to illegal immigrant children ‘dumped’ in warehouse.
The state of Arizona has shipped mattresses, portable toilets, and showers to a warehouse in Nogales where over 700 illegal immigrant children have been “dumped” by federal agents using the facility as a makeshift holding center.
An official with the Department of Homeland Security told the Associated Press that 2,000 mattresses have been ordered after most of the children spent the night sleeping on plastic cots.
http://www.foxnews.com/politics/2014/06/08/arizona-sends-supplies-to-illegal-immigrant-children-dumped-in-warehouse/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+foxnews%2Fpolitics+%28Internal+-+Politics+-+Text%29
You know what? Maybe we need to build that border fence. Quit giving single men on welfare any money. Set up some tents, give them a job, and build that fence.
“Maybe we need to build that border fence.”
Heh, we’re waaayyyy past the point of that. It’s war now, Washington has declared war on the US and this is part of that war. “Baby waving”. The utter wastes of flesh from south of the border have no compunctions about using their children as human shields, as sources of income, etc. US citizens who “follow the rules” are at a disadvantage with these people and their enablers.
What’s worse than the Pretender and his admin are the members of Congress, and the military who sit by and watch and do nothing. Enablers. Collaborators.
As someone who lived on the border for years, my opinion is that the idea of a fence is fantasy. It’s really more like this:
The Other IBM - Catapult - TV Ad
https://www.youtube.com/watch?v=CZmHDEa0Y20
I have done hundreds of payrolls. I understand the number tracking in detail. Under the long existing system, the government could snuff out illegal immigration in months. After all, why would you employ an illegal if you couldn’t deduct it from your taxes? And if you report pay as a deduction, there is a social security number, right? Are we supposed to believe the government can record every phone call and email but can’t zero in on a phoney SS#?
Six or seven years ago, I was driving around Prescott and I got lost in a road construction zone. I stopped to ask one of the workers directions. He was a Hispanic guy, wearing the florescent vest, etc. He couldn’t understand my question. In Spanish he called for another worker to assist me. And this was a guy working for a contractor doing state work!
It’s just more of the illusion that the politicians keep us in. They are in DC, fighting to “protect us”, while they stuff money in their pockets and do the bidding of their paymasters.
“Under the long existing system, the government could snuff out illegal immigration in months. After all, why would you employ an illegal if you couldn’t deduct it from your taxes? And if you report pay as a deduction, there is a social security number, right? Are we supposed to believe the government can record every phone call and email but can’t zero in on a phoney SS#?”
Absolutely. Just enforce, and enforce with a vengeance. The only reason the situation exists is because of fellow citizens who flout the law, for their own benefit.
I’m not totally opposed to a fence, however. As more of a symbolic thing, or to make it just a tad more difficult.
‘to make it just a tad more difficult’
And Halliburton would end up with the contract.
When I was on the border, I knew a guy from Mexico who told me he got a job in Houston. I asked him how he was going to get there. He looked at me like I was stupid and said, “I’m taking the bus.”
In 2001 I was working in Anchorage Alaska. I was getting to know the workers, and discovered there were 50 Hispanic laborers at this company, all with the same last name! I asked one, isn’t it pretty improbable that out of 50 people, you all have the last name? He insisted it was just a coincidence. I asked him about the usual stuff; when did you come to Alaska, etc. I asked him how he got to Anchorage. He looked at me like I was stupid, and said “I took a plane from Mexico.”
Absolutely. Just enforce, and enforce with a vengeance. The only reason the situation exists is because of fellow citizens who flout the law, for their own benefit.
This issue appears to induce a lot of anger among some people. Not many wake up early to post angry statements about the businessmen who hire illegal aliens. I find that to be interesting. Besides that, there are people illegally living and working in this country from all over the world and yet it is only Latin Americans who are ever discussed. This is also interesting.
Yes, well, I’ve lived “on the border” for years myself, so to speak. We lived in South Florida since 1980 and were there for the end game in 1999.
For years we were subs for construction companies that built facilities for local government and sometimes we were direct contractors if the government entity was only in need of our particular specialty.
For a long time, there was peaceful co-existence and cooperation among the Cuban descended local business people and the Anglos. As more Hispanics arrived in Miami and South Florida from other countries, things got weird and pretty much reverted to the customs of the countries from which the immigrants had arrived. And they were heavily involved in construction. Heavily.
However, as you and I have both noted, the business practices that have become routine took place as a direct result of encouragement and collaboration by US companies AND government.
We knew things were over for us when a Cuban American long time client of ours called us in for a meeting with a Hispanic contractor and one of our Anglo subcontractor competitors. We walked into an ambush, it was obvious that our (US) competitor had already struck a deal. During the meeting, he grabbed our sample and drove his foot through it with great force and of course broke it, to “demonstrate” that our claims of quality were weak.
As long as I live, I’ll never forget that meeting. We left South Florida within a year, the handwriting was on the wall. It was an Anglo-American citizen that had played us off against the Hispanics and set us up. (The project ended up being a disaster, we were asked to fix it months later, but had to decline because it wasn’t our spec)
My point is, it’s not so much even the immigrants that I resent, it’s their Anglo collaborators and enablers. We see this even here, among retirees who hire illegals for lawn work and cleaning and home improvement and give them charity, while ignoring a lot of young citizens as “lazy trash”.
Hah! These people have no idea what’s coming, wait’ll the home invasions ratchet up, they’ve already begun. If I was aware that a neighbor had been a sympathizer, whether through direct employment of or charity to illegals, and they were being gang-banged, there would be no help from me. Not even so much as a call to 911.
Here ya go, high and mighty.
http://www.youtube.com/watch?v=kGx94VPb8V8&feature=kp
Because clearly, you missed the whole point of the thread with respect to Anglo collaborators.
Not many wake up early to post angry statements about the businessmen who hire illegal aliens. I find that to be interesting.
As long as the toilets get scrubbed and the lawns get mowed and the illegals don’t live in their neighborhoods or go to school with their kids, people won’t care.
Besides that, there are people illegally living and working in this country from all over the world and yet it is only Latin Americans who are ever discussed. This is also interesting.
FWIW, the Hispanics stand out and are the lion’s share of the illegal population. Also, there isn’t a Polish TV network in the US and the Lithuanian basketball team doesn’t play its “home games” in the USA.
When the Mexican national soccer team plays “friendly” matches they are almost always played in the USA. And when the US plays “home games” vs. Mexico, they have to carefully select venues where the majority of the fans in the stands won’t be rooting for Mexico (like Seattle or Columbus). It has come to the point where places like LA, Chicago, or any major city near the border is considered “home field” for the Mexican national team.
If you look at the order of the posts above, your discussion of contractors of various backgrounds came after my statements. Yes, you do mention Americans hiring illegals. On the other hand, you don’t specifically say that the Hispanic contractors were illegal aliens. And instead of referring to native born contractors or sub-contractors, you call them Anglos, which doesn’t exactly support my point, but indicates a similar sentiment.
Mikey would just let them all in. Welcome with open arms. No rules, no barriers. Everyone hold hands and sing Kumbaya. And pass out free benefits paid for by others.
How do I used that JT extension? Can I use it with Chrome, or does it have to be Firefox?
I never wrote any such thing. You lack of interest in the facts is not unique, though.
Personally, I think that it’s quite reasonable to say that the Feds should track down all illegals and send them home. It’s the law of the land after all. It should be possible for people to express that sentiment without engaging in anti-Hispanic bigotry.
When your house is infested with fire ants, you’re not too worried about the odd cricket that may be lurking here and there. And many of the illegals from south of the border are not even “Hispanic”. They speak a language or dialect other than Spanish.
And personally, I am opposed to la mordida, which is a way of life in a number of countries south of the border and has taken hold here in the US.
More to the point, why aren’t you? Maybe you don’t have to work, which of course gives you more time to function as a Michelle Obama hall monitor.
Companies LOVE la mordida. This way, they don’t have to pay staffing or search/recruit fees and stuff like that. The foreman or department head takes care of all that and collects from the new hire.
I don’t know what the heck you’re talking about. What’s la mordida and what does the president’s wife have to with anything?
I post many fewer words on this blog than you do, so I guess that must mean that you’re got a lot more free time than I have.
meant to write, “…you’ve got a lot more free time…”
“La mordida” or “the bite” is Mexican slang for a bribe.
And instead of referring to native born contractors or sub-contractors, you call them Anglos, which doesn’t exactly support my point, but indicates a similar sentiment.
“Anglo” is what Mexican Americans call anyone who is of European descent and is not Hispanic.
Well, technically la mordida is “the little bite”, especially when applied to a bribe to a supervisor in exchange for a job.
And it’s not only Mexican Americans who use the term Anglo. It’s used quite broadly in South Florida, especially Miami, by most Latinos. And also by, uh, Anglos! It’s sort of a convenient term.
Thanks for schooling High and Mighty. I’m betting he knows a lot more than he lets on, though.
Actually, “mordida” is not the diminutive form, it just means “bite”. You’re probably thinking of words with the “ito” and “ita” suffixes, like “perrito” (little dog).
How do I used that JT extension? Can I use it with Chrome, or does it have to be Firefox?
It’s a plugin that only works on Firefox.
Speaking of having nothing to hide, where do you fall on the NSA hierarchy of blackmailable offenses:
Tier 1 criminal conduct:
Murder
Selling drugs
Child molest
Major ripoff/fraud
Proven physical Domestic violence
Proven rape
Bribery
Tier 2 criminal conduct:
Taking hard drugs
Possess child porn
Tax cheating
Embezzlement
Obstruction of Justice
Violent assaultive conduct
Workers comp type fraud
Anything felonious
Embarrassing conduct:
Closeted gay
Marital affair
Minor fraud
Alcoholic
Smoking mj/prescription pills
Gambling
Something unbecoming your job title/position
Sexual harassment
Racism
Whoremongering
Viewing Deviant Fetishist pornography
Campaign finance irregularities
Employing illegals
Psychological issues
Medical issues
Abuse of sick leave or company policies
Resume padding
Sexism
‘Anything felonious’ -
How is one to be sure, any more?
Correction: Anything defined as felonius
Check out “No Place to Hide” by Glenn Greenwald. It’s a fast read and I wish every American who is worried about the 4th amendment being eroded should read this book. The more people who do, the more power we get back over big government.
Advice: Use PGP for email correspondence. Never post public or to “friends” on social networks any political information that could bring the State against you. Buy a second computer and dedicate it as an “air gapped machine,” which you NEVER hook up to internet. Not on wifi. Use this to store files that you do not want to share with others. If you have things to discuss with someone that you don’t want the public to know, take the battery out of your smartphone (my Droid has a battery).
I’m about one-fifth through the book and learning new things. By the way, crypto currency advice (whether BitCoin, Dogecoin, Darkcoin) is to store your wallet on an air gapped machine - and encrypt your wallet.
If you have things to discuss with someone that you don’t want the public to know, take the battery out of your smartphone (my Droid has a battery.
Thats getting a bit paranoid, i think. What are you a drug lord? Seriously, for 99.999999 percent no one cares or ever will care. But I understand the worry is that when they want to shine the microscope on you they can and the chilling effect of that.
Again, several passages in the book, Greenwald takes to task those who declare “I have nothing to hide.”
Well look at it this way. They passed the Patriot Act in 2001. Many of us thought that was okay. Many of those same people did not expect every e-mail, Facebook post, and so on would be looked at.
If you are so open, FavelaTouro, then I ask you to give me your password to your email accounts. And while there, your Facebook account and your bank account.
None of that would provide any blackmailable information. It would bore you to tears. Emails from Papa Johns with discounts on pizza, an email from Stumbleupon for new websites that might be interesting and receipts from the Apple store for movies or game apps. The bank info would just show buying groceries or gas or paying bills. I have a facebook account with no information and 3 friends who are family members, just to look at their pictures.
There is nothing there. No one cares.
As for the Patriot Act, it doesn’t allow the type of snooping you are worried about. If that is going on, and maybe it is who knows, then it is illegal. People should be worried about that, but not internet paranoid to the point of taking out cell phone batteries.
So where are the passwords?
I cannot post my passwords. They are all pornographic. I make them uttelry filthy so I will be able to remember them easier. When numbers are required, you know what I use, not 96.
I don’t blush.
Bill,
Don’t think the gov’t can snoop in on your Crypto currency. My brother in law who is a computer programmer in Vegas worked for a company who made “snoop” software.
Snoop software is tracking not only those player cards you give to the pit boss when you gamble, they are using it for the Crypto currency. Those people are in for a big surprise if they think Uncle Sam cannot see those transactions.
For the record, my BIL wouldn’t work on the snoop software but another project, being a staunch libertarian. It still bothered him that he was working for such a company like that.
The government will know if you use PGP. I have used it off and on since the 1990s. Whether or not the government knows I use PGP and do work with crypto currency is beside the point. Did you know tens of thousands of people in the USA use crypto software? Did you know large corporations use crypto? Do you know what TLS is for? Client / Server handshaking in a secure way. Hundreds of millions of encryptions and decryptions happen every day around the world.
there should be no law against blackmail.
‘On May 28, Obama delivered a commencement address to the US Army’s newest officers at West Point, where he argued America would remain an empire forever. “America must always lead on the world stage. If we don’t, no one else will,” he said, adding: “So the United States is and remains the one indispensable nation. That has been true for the century past, and it will be true for the century to come.”
‘But as Srdja Trifkovic explained, that “has never been true, it is not true now, and it never will be true. Madeleine Albright’s famous dictum was an arrogant statement by an immigrant ignorant of American history and a sign of her well-attested instability.”
‘Yet even that was not good enough for the imperialist establishment, which bemoaned the lost golden days of Bush Senior and Bill Clinton and feared Obama was too timid. A good example of this is David Brooks of the New York Times, who much prefers the (not so) “brilliant” rants of Robert Kagan, or the “invade all the things” fantasies of that weaponizer of human rights, Samantha Power. Brooks actually envisioned the world as America’s garden, in need of frequent “assertive tending,” and called for Obama and his successors to use the “logic of menace and force” in dealing with “autocrats” – whom he called “primitives.” In this he echoed British imperialist Robert Cooper, who in 2002 called for “liberal imperialism” that would “keep the law but when we are operating in the jungle, we must also use the laws of the jungle.”
‘Keep the law? What law? Fight the dangers to international order? What order? Fight for “democracy” against the “autocrats”? So long as “democracy” means whatever they say it means, and an “autocrat” is Someone Else who declares the intent to rule by pen and phone, but never “us”.’
‘What is one to make of this insistence on American exceptionalism (and exemptionalism), which has long since stopped bordering on delusional and crossed right over into Behind-the-Looking-Glass land? Could it be that the establishment of the Atlantic Empire is trying to conjure and maintain the illusion of their omnipotence and destiny by protesting too much?’
‘What “prosperity,” exactly, do the advocates of Empire offer, not just to the world but to their own people? There is no end in sight to the economic downturn of the West. The gutted industries won’t spring back up overnight, and the trillions in toxic loans and bailouts thereof will come up for payment at some point. One can’t kick the can down the road if the road ends in a ravine.’
‘Though the mainstream media have tried to dismiss the recent elections for the European Parliament as a victory of the “far right” and “racists”, throughout the West itself there is a growing frustration with the insulated caste of political overlords, who think “prosperity” is making the world a better place for Goldman Sachs – and by extension, themselves – while regarding the people they are supposed to serve with contempt, much like the French aristocrats of the Ancien Régime, or the colonial administrators of George III.’
“… throughout the West itself there is a growing frustration with the insulated caste of political overlords, who think ‘prosperity’ is making the world a better place for Goldman Sachs – and by extension, themselves – while regarding the people they are supposed to serve with contempt …”
Sounds about right considering it’s God’s plan:
“If God did not want them sheared then He would not have made them sheep.”
“throughout the West itself there is a growing frustration with the insulated caste of political overlords, who think “prosperity” is making the world a better place for Goldman Sachs – and by extension, themselves – while regarding the people they are supposed to serve with contempt, much like the French aristocrats of the Ancien Régime, or the colonial administrators of George III.”
So let me give a small example of how this works on the ground, taking the multinational corporation known as Ebay for a model.
I’ve bought and sold there in the past, making a little extra money here and there. But I know people who make it a full time job. It was small sellers who built Ebay. Yes, it was like the Wild West back in the day and had its pitfalls, but it was may more fun and rewarding. Now it’s a drag, especially for its customers. And its first move, after it went all Wall Street, was to crap on its smaller sellers, a theme that was led by its Bain alumnus management, Meg Whitman and later John Donaho (or however he spells his name.)
Take for example the recent Ebay hack. The company couldn’t even be bothered to secure the information of its customers, and yet it DEMANDS that its customers, the sellers, live up to stringent requirements that the company itself cannot live up to. Its customers, mind you. The joke is, Ebay sellers may thing they’re independent, but they’re not. At any moment, at the whim of a Philippines customer service agent, they can be out of business.
I have a buddy who sells full time on Ebay and makes a good part of his living from it. He told me he’d rather dig ditches than “work for somebody else”. LMAO! Who does he think he’s working for? Himself? He pays Ebay commissions for the honor of working for THEM. And the best part (for ebay) is, they don’t have to set aside his taxes or provide him with benefits, etc. He’s a little money machine for them, one of millions. I’m not putting him down for selling there, but let’s be realistic about what’s really going on here.
The contempt Ebay has for its customers is legendary, the recent hack being the most egregious example. Who stores sensitive data these days as TEXT??????
You can also take any Big Box store chain as an example. Target, Home Depot, etc. They couldn’t be bothered providing security or store personnel to take care of the customers. Plus in the case of the Home Improvement stores (lol) they sell a bunch of crap. Particle board cabinets etc. And don’t get me started on AC filters. Buy these on line if you can, folks. We just got a package of six on line for just a little more than a single ONE would have cost out of a nearby hardware store or supermarket. Company operates out of Jacksonville, too.
They make these in their facility right over there. Sure, you give up some little niceties, like no printed arrows to indicate direction of airflow, but you can figure it out.
Sharholders? Eff them.
I heard one Dad, when asked what he wanted for Father’s Day, say, “eh, just give me the money.”
grumpiest thing I’ve heard in a while.
Idiocracy Threat Warning Level Code Red
http://www.youtube.com/watch?v=hiP14ED28CA&feature=kp
Lola wants to wiggle wiggle wiggle.
Careful…. Lola will be wiggling your wallet right out of your pocket.
Lola prolly also wants to wiggle something else I got.
“Desperate sellers… desperate desperate sellers… they’re getting more desperate with each passing day.”
You better believe it.
The Death And Decay Of Detroit, As Seen From The Streets
Submitted by Tyler Durden on 06/07/2014
With the stock market hitting record highs day after day, it is easy to move on and forget that one of American’s once premier cities, Detroit, has been bankrupt for nearly a year. But out of mind doesn’t mean out of sight, especially now that Google has launched its street view Time Machine, which provides for 7 years worth of street images, capturing the time shift of the tumultuous period period starting in 2007. One blogger who decided to take this time lapse data and apply it to the city of Detroit is GooBing Detroit who, as the following time-lapse photos demonstrate, has captured Detoit’s unprecedented slow-motion collapse into death and decay in what is the closest we have to “real time.”
Perhaps what is most stunning about the following series of photos is not the ultimate fate of the bankrupt city, but how quickly a once vibrant metropolis has succumbed to blight and sheer desperation.
Hopefully not coming to a street near you.
All photos from the Goobingdetroit tumblr depict various areas and streets in Detroit, then and now.
http://www.zerohedge.com/news/2014-06-07/death-and-decay-detroit-real-time-seen-streets - 130k -
I find that kind of puzzling. Why do the Google Maps images make all the structures appear well-maintained and painted, while the Bing Maps generally give an appearance of dilapidation and ruin?
zero hedge needs to give up the satellite photo theme-ed articles. You’ll recall I wound up with major egg on my face after posting one of their articles regarding auto inventory.
A much more interesting zero hedge article is the one on the “darkening future” of the housing market. It’s a goodie.
“Why do the Google Maps images make all the structures appear well-maintained and painted, while the Bing Maps generally give an appearance of dilapidation and ruin?”
The Google Map images must have been taken in 1974.
The likely explanation is date related, but the tight time frame is suspect (Google Maps = 2009, Bing Maps = 2012).
Is that much physical depreciation or outright demolition over a 3-year period really plausible?
No. And it’s highly unusual to see flora (bushes, trees) do that quickly over a three-year period.
Complaint Says Sen. Chuck Schumer Behind IRS Effort to Attack Tea Party Groups
Schumer speech laid out plan to destroy tea party groups
by Kurt Nimmo | Infowars.com | June 8, 2014
The Center for Competitive Politics has filed a complaint with the Senate Select Committee on Ethics claiming New York Senator Chuck Schumer and other Senate Democrats used the IRS to deny the free speech of political opponents.
Schumer had signed letters directing the IRS to look into allegations of improper campaigning by “social welfare organizations.” The IRS in turned investigated mostly conservative groups.
The complaint also mentions a Schumer speech titled “The Rise of the Tea Party and How Progressives Can Fight Back.” The Center for Competitive Politics says the speech demonstrated how the IRS could be used to attack tea party groups.
“The complaint documents how the senators improperly interfered with IRS adjudications to further their party’s electoral prospects,” Joe Trotter wrote for the Wall Street Journal. “They pressured the IRS to undertake income-tax investigations of specific organizations, to find that specific organizations were in violation of the law, to reach predetermined results pertaining to pending applications by individual organizations for nonprofit status, and to adopt specific regulatory interpretations and policies to further their campaign goals.”
If correct, the complaint reveals the attack on tea party and other conservatives groups did not originate in the White House, as previously claimed, but in the Senate.
“As outrageous as this is, we shouldn’t be shocked,” notes Poor Richard’s News. “It was just a matter of time. History has taught us that if a government is large enough to be capable of doing something like this, it will eventually do it. That’s why the federal government should be so small that it literally couldn’t target or oppress people even if it wanted to. Yet I hear few politicians seriously talking about abolishing the IRS.”
It is now up to the establishment media to look into the allegations. However, considering it long ago jettisoned its role as a watchdog over government and disposed of any pretense of investigative journalism, this prospect is unlikely.
Instead it will not be up to the alternative media to investigate Schumer’s role and that of his fellow Democrats who are running scared from the populist tea party and constitutionalist movements.
Schumer. Pure evil.
When his victims start coming forward in the future, I won’t be surprised.
Northern lower Michigan – Kalkaska Village cuts retiree health care program
Virginia Thomas, a former Kalkaska village clerk, council member and mayor, worries about how she’s going to pay for her prescriptions, some of which cost $300 a month.
Thomas’ health care will be cut because Kalkaska Village officials last month voted to end their retiree health care program.
“I’m not happy. None of us are happy,” Thomas said.
Officials made the move to reduce the village’s unfunded liability. One council member estimated the village [population 2,020 in 2010] had $5.6 million in projected retiree health care costs, an unsustainable amount.
Village employees used to put parts of their salary into an account that would pay for retiree health care. The fund was supposed to be sustained by future employees, but as village’s full-time employees dwindled to three and health care costs skyrocketed, the fund was no longer sustainable, Village President Jeff Sieting said. The health care fund was depleted about two years ago, when the program had to be funded at least in part by the general fund.
“Our question, as a council that represents taxpayers, was is it the responsibility of the taxpayers to continue to pay this, when it was strictly set up to be an employee-funded health care benefit?” Sieting said.
Sieting said the letter of understanding between the Village and employees that set up the health insurance account never required taxpayers to take on the burden of paying for retiree health care.
Officials and the retirees expect a challenge in court.
“I think we’re looking at several months of attorney fees as opposed to years and years of unjustified insurance premiums that the taxpayers are on the hook for,” Sieting said.
‘Made in China’ now a toxic label
By Kate Galbraith / Foreign Policy
5 p.m. June 7, 2014
Buried in recent China headlines — about the gas pipeline deal with Russia, the U.S. Department of Justice’s indictment of Chinese military hackers, and saber rattling with Vietnam — was this juicy morsel: Petco and PetSmart will soon stop selling dog and cat treats made in China. Big Pet does not want your puppies getting sick from contaminated jerky. Thousands of reported pet illnesses have not been definitively linked to the Chinese-made munchies, but it hardly matters: The “Made in China” label has become toxic. Over the years, tainted milk, pork and infant formula have made people jittery.
This is emblematic of a much larger problem: China’s environmental crises are starting to drive foreign companies and expats away, along with their money and talent. Pollution numbers are piling up, and they’re scarier all the time. Nearly one-fifth of farmland is polluted, an official government study found in April, and so is three-fifths of China’s groundwater. No wonder the tea in my cupboard isn’t branded as “Grown in China” or that a Chinese food giant just bought a big stake in Israel’s largest food producer, which specializes in dairy goods — in part because Chinese consumers are looking for safer cheese products, a Shanghai analyst told the Financial Times.
For residents, the most obvious concern is the air: In smog-swamped Beijing, just 25 of 2,028 days between April 2008 and March 2014 had “good” air quality by U.S. standards. Don’t worry: China still is a great place to bring your family — just as long as nobody eats, drinks or breathes. I’ll always remember the way a top Texas energy regulator, Barry Smitherman, recounted a 2010 trip to Beijing, which happened to include the day the U.S. Embassy infamously described the air quality as “crazy bad.” “I came away from the trip concluding that I’m not really afraid of the Chinese as a competitor,” he told me.
…
“I came away from the trip concluding that I’m not really afraid of the Chinese as a competitor,” he told me.”
LOL, neither am I. The globalists created it. The people will bury it.
How come only Californians have the opportunity to take out a mortgage, refinance it during the bubble inflation period, blow the proceeds on vacations and fancy cars, go underwater when bubble prices crash, then sell short without paying taxes on all the unearned income they enjoyed through spending their loan proceeds on conspicuous consumption?
Article updated: 6/7/2014 1:15 AM
Owners caught in tax-code limbo
By Ken Harney
WASHINGTON — Is partisan warfare on Capitol Hill over taxation of medical devices crushing thousands of homeowners’ plans to do short sales this year?
Medical devices? What connection could heart pacemakers, dentures and LASIK eye surgery machines possibly have with short sales?
Advertisement
More than you’d probably guess. Just talk to Geoffrey Brencher, a high school teacher in Weston, Connecticut.
For the past nine months, Brencher and his wife have been negotiating a short sale on their home, which has an underwater mortgage — the loan balance exceeds the property value.
The Brenchers recently received final approval from their bank to proceed with the sale provided the closing can occur no later than June 27. As part of the deal, the couple would get $75,000 of their mortgage debt canceled by the lender.
But here’s the complication: If they close and accept the debt cancellation, there is a serious risk under current federal law that the Brenchers could face a $20,000-plus income tax demand from the IRS.
That’s because the Mortgage Forgiveness Debt Relief Act expired last Dec. 31 and its reauthorization is stuck in political quicksand in Congress.
First enacted in 2007, the law allows qualified owners who receive debt cancellations from lenders through short sales, foreclosures and loan modifications to be exempt from the federal tax code’s standard requirement: Any amount of debt that is forgiven by a creditor generally is treated as ordinary income to the borrower, taxable at regular rates.
During the housing bust and its aftermath, the mortgage debt forgiveness exemption has proved invaluable to large numbers of owners who ended up — often through no fault of their own — with underwater mortgages.
With the expiration of the debt forgiveness statute, owners who do short sales during 2014 cannot be certain that they will avoid taxation on their forgiven mortgage debt.
In the absence of a reauthorization by Congress retroactive to Jan. 1, there is a real possibility that short sellers in most parts of the country will face hefty income tax hits next year. (California residents are exempted on short sales because of an IRS interpretation of state law.)
…
“often through no fault of their own”
Suuuure.
How do I manage to live below my means day after day? It must b magic or something.
http://www.youtube.com/watch?v=QzE76nUSjL8
Is it only Californians? I thought someone explained this before that it could only be considered income if the debt was recourse and a lender could come after you for the loss and under the IRS rules if it was nonrecourse debt cancelled then it didn’t count. Not sure.
I think that’s what I read–it related to anti-deficiency laws (which AZ and FL also have). Do anti-deficiency laws apply to refinance loans? I didn’t think so…
Weekend Edition June 6-8, 2014
Tightening the U.S. Grip on Western Europe
Washington’s Iron Curtain in Ukraine
by DIANA JOHNSTONE
NATO leaders are currently acting out a deliberate charade in Europe, designed to reconstruct an Iron Curtain between Russia and the West.
With astonishing unanimity, NATO leaders feign surprise at events they planned months in advance. Events that they deliberately triggered are being misrepresented as sudden, astonishing, unjustified “Russian aggression”. The United States and the European Union undertook an aggressive provocation in Ukraine that they knew would force Russia to react defensively, one way or another.
It Was All Planned at Yalta
In September 2013, one of Ukraine’s richest oligarchs, Viktor Pinchuk, paid for an elite strategic conference on Ukraine’s future that was held in the same Palace in Yalta, Crimea, where Roosevelt, Stalin and Churchill met to decide the future of Europe in 1945. The Economist, one of the elite media reporting on what it called a “display of fierce diplomacy”, stated that: “The future of Ukraine, a country of 48m people, and of Europe was being decided in real time.” The participants included Bill and Hillary Clinton, former CIA head General David Petraeus, former U.S. Treasury secretary Lawrence Summers, former World Bank head Robert Zoellick, Swedish foreign minister Carl Bildt, Shimon Peres, Tony Blair, Gerhard Schröder, Dominique Strauss-Kahn, Mario Monti, Lithuanian president Dalia Grybauskaite, and Poland’s influential foreign minister Radek Sikorski. Both President Viktor Yanukovych, deposed five months later, and his recently elected successor Petro Poroshenko were present. Former U.S. energy secretary Bill Richardson was there to talk about the shale-gas revolution which the United States hopes to use to weaken Russia by substituting fracking for Russia’s natural gas reserves. The center of discussion was the “Deep and Comprehensive Free Trade Agreement” (DCFTA) between Ukraine and the European Union, and the prospect of Ukraine’s integration with the West. The general tone was euphoria over the prospect of breaking Ukraine’s ties with Russia in favor of the West.
Conspiracy against Russia? Not at all. Unlike Bilderberg, the proceedings were not secret. Facing a dozen or so American VIPs and a large sampling of the European political elite was a Putin adviser named Sergei Glazyev, who made Russia’s position perfectly clear.
Glazyev injected a note of political and economic realism into the conference. Forbes reported at the time on the “stark difference” between the Russian and Western views “not over the advisability of Ukraine’s integration with the EU but over its likely impact.” In contrast to Western euphoria, the Russian view was based on “very specific and pointed economic criticisms” about the Trade Agreement’s impact on Ukraine’s economy, noting that Ukraine was running an enormous foreign accounts deficit, funded with foreign borrowing, and that the resulting substantial increase in Western imports ccould only swell the deficit. Ukraine “will either default on its debts or require a sizable bailout”.
The Forbes reporter concluded that “the Russian position is far closer to the truth than the happy talk coming from Brussels and Kiev.”
Plan A and Plan B
U.S. policy, already evident at the September 2013 Yalta meeting, was carried out on the ground by Victoria Nuland, former advisor to Dick Cheney, deputy ambassador to NATO, spokeswoman for Hillary Clinton, wife of neocon theorist Robert Kagan. Her leading role in the Ukraine events proves that the neo-con influence in the State Department, established under Bush II, was retained by Obama, whose only visible contribution to foreign policy change has been the presence of a man of African descent in the presidency, calculated to impress the world with U.S. multicultural virtue. Like most other recent presidents, Obama is there as a temporary salesman for policies made and executed by others.
As Victoria Nuland boasted in Washington, since the dissolution of the Soviet Union in 1991, the United States has spent five billion dollars to gain political influence in Ukraine (this is called “promoting democracy”). This investment is not “for oil”, or for any immediate economic advantage. The primary motives are geopolitical, because Ukraine is Russia’s Achilles’ heel, the territory with the greatest potential for causing trouble to Russia.
What called public attention to Victoria Nuland’s role in the Ukrainian crisis was her use of a naughty word, when she told the U.S. ambassador, “Fuck the EU”. But the fuss over her bad language veiled her bad intentions. The issue was who should take power away from the elected president Viktor Yanukovych. German Chancellor Angela Merkel’s party been promoting former boxer Vitaly Klitschko as its candidate. Nuland’s rude rebuff signified that the United States, not Germany or the EU, was to choose the next leader, and that was not Klitschko but “Yats”. And indeed it was Yats, Arseniy Yatsenyuk , a second-string US-sponsored technocrat known for his enthusiasm for IMF austerity policies and NATO membership, who got the job. This put a U.S. sponsored government, enforced in the streets by fascist militia with little electoral clout but plenty of armed meanness, in a position to manage the May 25 elections, from which the Russophone East was largely excluded.
Plan A for the Victoria Nuland putsch was probably to install, rapidly, a government in Kiev that would join NATO, thus formally setting the stage for the United States to take possession of Russia’s indispensable Black Sea naval base at Sebastopol in Crimea. Reincorporating Crimea into Russia was Putin’s necessary defensive move to prevent this.
But the Nuland gambit was in fact a win-win ploy. If Russia failed to defend itself, it risked losing its entire southern fleet – a total national disaster. On the other hand, if Russia reacted, as was most likely, the US thereby won a political victory that was perhaps its main objective. Putin’s totally defensive move is portrayed by the Western mainstream media, echoing political leaders, as unprovoked “Russian expansionism”, which the propaganda machine compares to Hitler grabbing Czechoslovakia and Poland.
Thus a blatant Western provocation, using Ukrainian political confusion against a fundamentally defensive Russia, has astonishingly succeeded in producing a total change in the artificial Zeitgeist produced by Western mass media. Suddenly, we are told that the “freedom-loving West” is faced with the threat of “aggressive Russian expansionism”. Some forty years ago, Soviet leaders gave away the store under the illusion that peaceful renunciation on their part could lead to a friendly partnership with the West, and especially with the United States. But those in the United States who never wanted to end the Cold War are having their revenge. Never mind “communism”; if, instead of advocating the dictatorship of the proletariat, Russia’s current leader is simply old-fashioned in certain ways, Western media can fabricate a monster out of that. The United States needs an enemy to save the world from.
http://www.counterpunch.org/2014/06/06/washingtons-iron-curtain-in-ukraine/ - 60k -
What do you all think of this property in La Mesa, CA? I grew up in the area and have been on the hunt for a house for a few years now. It somewhat worries me that the house was potentially shoddily flipped from the details, but at first blush it looks pretty nice. I’ve been of the opinion that the housing market is overvalued, but this particular property suits my needs and doesn’t seem outrage oily expensive. Any thoughts?
Sorry, forgot to include the link: http://www.zillow.com/homedetails/7612-Marie-Ave-La-Mesa-CA-91942/17001224_zpid/
And that last line should read *outageously expensive, damn autocorrect.
‘Year Built: 1946
Last Sold: May 2010 for $316,000′
Looks to be at least $83,000 overpriced.
And built in 1946!?
7612 Marie Ave, La Mesa, CA 91942
For Sale: $399,000
Zestimate®: $410,752
1,164 sq ft
ppsf = $399,000/1,164 = $343/sq ft — ouch!
1,164 sq ft
$399,000
“Own a slice of Hollywood history”
Did someone famous get murdered there or something?
The place was featured on some show called, “yard crashers” where they renovate the yard over a few days. It seems like the owners did their own renovation on the inside of the house. I really like the style in and out and the payment for me would be below $1800/month with a 25% down payment.
And your losses?
Considering the depreciated value of the structure it is down around $20k, why would you rope yourself into losses like that?
I think what this guy is trying to say is…
All Wars Are Bankers’ Wars
The Symbiosis of Statism
Interconnected cooperation of statist regimes for geopolitical, ideological, and financial purposes
by Charles Burris | LewRockwell.com | June 8, 2014
When reflecting upon my recent critique of the History Channel’s egregious series, The World Wars, one analytical dimension I did not focus upon was what I describe as the symbiosis of statism. By this I mean the interconnected cooperation of statist regimes for geopolitical, ideological, and financial purposes. We saw this idea in abundance in the inner-war period between WWI and WWII. For their own strategic rationales, elites from military intelligence, diplomatic establishments, and industrial and investment banking sectors of civil society fostered the growth and development of Germany and the Soviet Union in this post-war era. These elites based in Western Europe and the United States substantially created the military-industrial complexes of National Socialist Germany and the Soviet Union which they eventually had to face in the Second World War and the Cold War which followed that conflict. Today’s murderous and duplicitous elites are engaged in the same perfidious practices.
While many dedicated scholars have documented this infamy, two specifically stand out for their unrelenting courage and integrity: the late Antony C. Sutton (particularly in his three volume Western Technology and Soviet Economic Development series published by the Hoover Institution, his National Suicide: Military Aid to the Soviet Union and three volume Wall Street series published by Arlington House, and The Best Enemy Money Can Buy), and the intrepid Edwin Black, described as “the award-winning, New York Times and international investigative author of 120 bestselling editions in 14 languages in 61 countries, as well as scores of newspaper and magazine articles in the leading publications of the United States, Europe and Israel. With more than a million books in print, his work focuses on genocide and hate, corporate criminality and corruption, governmental misconduct, academic fraud, philanthropy abuse, oil addiction, alternative energy and historical investigation.”
Remember… Expressions like “location location location” and “all real estate is local” are used as a marketing technique by realtors to get the target to pay far more than the property is worth.
From Kitco one year historical charts since january 2007. If the pattern reverts to the old pattern, POG can go lower through early September before the big recovery. Note POG is slightly higher than it was in early January.
2007
Dropped May through September. Finished the year new highs
2008
Dropped July through September. Finished the year higher than January 1
2009
Dropped one month long June 9 through July 9. Finished the year higher
2010
POG dropped June 23 though July 31. Finished the year higher
2011
Gold had Two two-week drops - in May and late June. Finished year higher
2012.
Sharp drop in mid-may. Stayed low through early September. Ended year higher than Jan 1
2013 - first year in a long time gold ended lower than beginning of the year. But had the “mysterious” sharp drop in April (caused by PTB) and sharp drop in June to a level where it finished December 31.
2014 to date - biggest drop in March. Big drop late May. But still higher than January 1 right now. Buying opportunity in September, if the metal returns to its habit.
No question that gold is consolidating in the face of being near extraction cost levels. Started the year at $1220 per ounce and currently trading at $1250. The gold top September 2011. Extrapolating another 2 years, gold will have to break $1350 to get out of the long term down trend. That is the middle of 2016, a presidential election cycle. This is more opportunity to accumulate before the big opportunity is lost. For now it’s like a piggy bank and the economy is catching up with metal prices still.
The opportunity might not appear if Chuck Hagel gets his way and there is huge defense cuts, combined with huge social spending cuts down the road.
But we are about to get a permanent super Democrat majority of voters so I think the cards are in favor of $10,000 per ounce gold in ten years.
this is where people with mortgages don’t get to go.
mt hope’s hopeful couloir as seen from the slope of quail mountain above hope pass:
http://www.picpaste.com/IMG_20140608_093301_720-8R7NcNhP.jpg
14er mt huron seen from hope pass:
http://www.picpaste.com/IMG_20140608_095115_857-EPZe3gmx.jpg
mt huron again seen through the aspen trees along the trail:
http://www.picpaste.com/IMG_20140608_111236_171-VEv4ypcU.jpg
no debt donkeys allowed on this trail:
http://www.picpaste.com/IMG_20140608_112936_213-OrXQwUj8.jpg
Looks very chilly. Too chilly for debt donkeys
Those pics are all from this morning. Yesterday we rafted Browns Canyon on the Arkansas River. Because renters with so much cash left over after “throwing money away on rent” can afford to pay for the temporary thrill of being underwater, meanwhile for debt donkeys they get to live underwater forever and watch us float over them on the surface laughing.
BTW, it is running at 3800 cubic feet per second, wild stuff…
Good analogy. Donkeys love it down there underwater though.
“meanwhile for debt donkeys they get to live underwater forever and watch us float over them on the surface laughing.”
BWHAHAHAHAHAHAHAHAHA
+1
I’m calling peak #2
Spring 2014
Unfortunately I think metro Denver could be in a plateau for a while, the net in-migration isn’t stopping, they won’t stop moving here (speaking as a resident and not a Realtor).
Am seriously considering buying raw land to build a cabin on in Chaffee County (see above pics) and continuing to rent in the city for the time being…
Yeah, but he’s spot on for Florida, that’s for sure. This will be the summer of our discontent. Some interesting similarities to bubble peak 1.0.
The house across the street from us, being a FHA default, finally got assigned to a realtor after a year of sitting and rotting. The “property preservation” folks have been coming by over the weekend and checking out the interior and exterior, photographing, posting notices, etc. It’s a little creepy when they come by at night in the dark and you can see blue flashes through the windows from the camera. I sort of get a sense that the banks may want to move some property, ahead of the crash 2.0
Zillow’s making it look like Fall 2013, but I think that’s a little early.
You’re spot on muggy.
I wouldn’t be buying anything real estate related until this mess improves.
Debt is for demented, dimwitted donkeys, but I repeat synonyms as a habit.
Here… read this. If this doesn’t shock you into swearing off debt for eternity nothing will.
http://www.freedominfonet.net/money-form-social-control-americans-debt-slaves/
The cracks that were forming last fall are now enlarging at a increasingly rapid pace. The article in the link gives you the breadth and scope of it all. And that freaking retard in the whitehouse and 550 fraudsters in congress continue to enrich themselves.
Thanks for the link.
Took a 42 minute walk this evening (walking being the only exercise permitted post op eye surgery for a few days) and coming back to my apartment (which I rent) past the $600,000 houses and reading this link made my evening. Nice that my bond income pays my rent while many of my neighbors pay Mr. Banker for their house and newish cars, boats, and jet skis. Although I admit most people here drive average cars, not the Lexus / infiniti / BMW / Audi poseurs that my former neighbors in L.A. drive.
My lease renewal comes up in a month or so. Always a good “just in case” deal to let it run out in case I get tossed out of the job. I have resources. It’s good to be a renter with no debt. It’s good to be free.
From the article:
“Let’s say you are an average American household, and you carry an average balance of $15,956 in credit card debt.
“Also, as an average American household, let’s assume you pay an average current rate of 12.83%.
“Finally, let’s assume you carry this average balance for 40 years, between ages 25 and 65. How much did your credit card company make off of you and your extreme averageness?
“Answer: $2,629,618.64″
Bahahahahahahahahahahahahaha.
“Sadly, approximately 46% of all Americans carry a credit card balance from month to month.
“How stupid can we be as a nation?”
Such a question. Bahahahahahahahahahahahahahaha
Dumb ‘em down and keep ‘em dumbed down and you, as a banker, will forever prosper.
realtors are liars
You can say that again.
What’s the story? Our friends from Dewey, Cheatum and Howe can’t bill weekend hours?
Where are ya school marm? Liberace? Idjits?
Ha Ha! They are probably meeting with Ho Li Fuk