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S&P Downgrade Bloodbath Begins
Here we go as S&P starts going down the list of all US-related issuers
- Options Clearing Cut to AA+ From AAA by S&P, Outlook Negative - there goes no counterparty risk
- Natl Securities Clearing Cut to AA+ from AAA by S&P, Outlook Neg - there goes no clearing risk
- DTCC Cut to AA+ from AAA by S&P, Outlook Neg - there go all your stock certificates
Many, many, many more coming, not least of all will be 7,000 muni issuers. Watch those copulas ladies and gents. And for those at various CVA desks: our condolences. You are about to have a very, very ugly day.
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I love the smell of (S&P) downgrades in the morning.
http://www.youtube.com/watch?v=sBksHaTQCbU
Blue Monday, bitchez!
http://azizonomics.com/2011/08/08/blue-monday/
Popo?
Clearing clogs to ensue.
It's only Monday...
http://www.youtube.com/watch?v=Dq72lrDRXpM
bankstercide!!
Yup. Downgrading a buttload of FDIC guaranteed notes from AAA to AA+ now....for every major bank in the nation.
It leaves a taste of napalm in the back of your throat.
I call my yard garden my "Defeat Garden"
Funny. I may steal that.
how does that garden grow, DJ? while everyone is variously titillated and alternately squirming in their ringside seats in rapt attention at the fascinating horror show spectacle of economic/social catastrophe and geopolitical madness, my neighbors in the barnyard are providing a steady supply of milk and cheese and succulent cabrito while the hillside gardens have grown bountiful with greens since early March. the tomatoes and peppers are following hard on the zucchini and buttercup squashes, delightfully verdant oases in an otherwise parched wasteland of drought. lots of hard work but a most pleasant and rewarding activity compared to the pallid and generally fruitless voyeuristic preoccupation with hopeless and unchangeable debacle. cheers!
Yo Yardman, it grows well thank you. I have been experimenting with perennial vegetables and other lesser knows with inspiration from the PFAF website and others. My Yard garden is not much, it can't yet feed my family. But it is the best thing I have come up with for my own therapy. They say a baboon can recognize up to 800 plants and discern from the edible, medicinal and avoidable. Think about it, us humans spend billions to lobby our leaders so we can not tell the genetically modified from nature. We then construct an entire food system completely dependant and a system and energy source at the brink of ecomomic and functional extinctinon. Dumber than Monkyes.
Should I be looking up to watch for falling bodies as I walk along the side-walk? or is it too soon for that? I just don't want to miss it. I want to make sure I have the op to take a giant, clevland steamer on some bankster fuck who did a perfect 10 belly flop from the 50th.
If I saw a body hit the pavement from a window at GS, JPM, the NY Fed, I would definitely piss on it. It'd be worth getting arrested for.
Your piss is too good for them. Maybe a cop could issue them a ticket for littering.
brings new meaning to the term piss poor
bahahaha
You have to wonder about an agency that downgrade enmass during a market crash.
As far as I can remember, nobody here thought they had the balls. I guess all those whining posts on ZH about the ratings agencies finally struck home? Or this is another whole ball-game to make a sea of red in the markets for days to ______ (Enter your favourite conspiracy theory here).
For everyone listening to Jim Cramers advice he was rec. deep in the money calls to unsophisticated investors 1200 DOW points ago.
stfu redneck
racist
I thought red necks were into NASCAR? .. hmm. oh wait. that's RACING.. nvm..
Coming from you that is almost funny.
He should go back to his black panther meeting
What if he is hispanic?
Than he should go back to his La Raza meeting
i'm neither, mf'er
you calling anybody racist? 2 funny
scum
You're the one randomly ad hominem attacking me with racial epitaphs. I don't come on the boards and start calling people niggers and spicks (like you demonstrated today with your mad insult skills)
At least when I talk, I back it up you punk bitch.
Quidquid latine dictum sit altum videtur.
When you talk you back it up?
How the fuck do you back up a statement like "niggers are worthless" (your statement)?
You must be an ugly, ignorant (former slave-owner) southerner who are in cahoots with the banksters over the "drug war". "federal prisons" and private prisons are your new plantations.
I must say too, anybody whop feels a need to put somebody else down because of race or whatever has an inferiority complex to begin with.
You are pure scum and your day is coming... no more bankster dollar to enable you hicks to run around acting like pirates ("law enforcement -ha). Back to the bayou, you ignorant scum!!
I didn't say niggers were worthless. I said blacks were worthless and I backed that comment up with hard facts. Why don't you look at the unemployment rate, and welfare programs in general by demographic.
So like I said, I don't run around calling people "red neck" "nigger" or "spick" or "chink" or anything else like you do.
You ad hominem because you don't have shit else to say (but sure can put words in my mouth like nigger, maybe because you want one in yours)
16% unemployed
http://www.bls.gov/news.release/empsit.nr0.htm
Take a look at food stamp usage by demographic if you want to be really embarrased. You can look that one up yourself. You can start here:
"90% of black children on food stamps"
http://news.change.org/stories/90-of-black-children-on-food-stamps
Here's your un-banksterfied history lesson for today:
Carrie Buck v. James Hendren Bell, Superintendent of State Colony
for Epileptics and Feeble Minded
Citations 274 U.S. 200 (more)
47 S. Ct. 584; 71 L. Ed. 1000
The ruling was written by Justice Oliver Wendell Holmes, Jr. In
support of his argument that the interest of the states in a "pure"
gene pool outweighed the interest of individuals in their bodily
integrity, he argued: We have seen more than once that the
public welfare may call upon the best citizens for their lives. It
would be strange if it could not call upon those who already sap
the strength of the State for these lesser sacrifices, often not
felt to be such by those concerned, in order to prevent our being
swamped with incompetence. It is better for all the world, if
instead of waiting to execute degenerate offspring for crime, or to
let them starve for their imbecility, society can prevent those who
are manifestly unfit from continuing their kind. The principle that
sustains compulsory vaccination is broad enough to cover cutting
the Fallopian tubes.
Holmes concluded his argument with the infamous phrase "Three
generations of imbeciles are enough".
They were unable to carry out the thorough, documented process for lack of database technology. Prescott Bush, Carnegie, Rockefeller foundations were all behind this.
Edwin Black, jewish researcher of the German ethnic cleansing in the 1940s, found their older history when he found the IBM Nazi connection. IBM's database technology was what allowed the Germans to ethnic cleanse you, your sister, brother, cousins etc. That is why the earlier one failed. He wrote a couple of books including Nazi Nexus and War on the Weak. Here's a chat about War on the Weak:
http://video.google.com/videoplay?docid=9014940408212321489#
This man also states that there was a connection between the Rockefeller foundation and Mengele's overseer. It's in one of his chats. See, it wasn't just a business connection between Thyssen and Bush; it was part of a much larger ethos and yes, conspiracy.
During the 1950s Prescott Bush ran for the US senate and lost when a last minute rumor linking him with the old Birth Control League (yes, you heard correctly: the BIRTH CONTROL LEAGUE which is shy George HW Bush was called "rubbers" as in condoms when he was in Congress in the sixties pushing this:
Congressional record in the
1960's:
Population Task Force
Among Bush's most important contributions to the neo-Malthusian cause while
in Congress was his role in the Republican Task Force on Earth Resources
and Population. The task force, which Bush helped found and then chaired,
churned out a steady stream of propaganda claiming that the world was
already seriously overpopulated; that there was a fixed limit to natural
resources and that this limit was rapidly being reached; and that the
environment and natural species were being sacrificed to human progress.
Bush's task force sought to accredit the idea that the human race was being
"down bred," or reduced in genetic qualities by the population growth among
blacks and other non-white and hence allegedly inferior races at a time
when the Anglo-Saxons were hardly able to prevent their numbers from
shrinking.
Comprised of over 20 Republican Congressmen, Bush's Task Force was a kind
of Malthusian vanguard organization which heard testimony from assorted
"race scientists," sponsored legislation and otherwise propagandized the
zero-growth outlook. In its 50-odd hearings during these years, the task
force provided a public forum to nearly every well-known zero-growth
fanatic, from Paul Ehrlich, founder of Zero Population Growth (ZPG), to
race scientist William Shockley, to the key zero-growth advocates infesting
the federal bureaucracy.
Giving a prestigious congressional platform to a discredited racist
charlatan like William Shockley in the year after the assassination of Dr.
Martin Luther King, points up the arrogance of Bush's commitment to
eugenics. Shockley, like his co-thinker Arthur Jensen, had caused a furor
during the 1960s by advancing his thesis, already repeatedly disproven,
that blacks were genetically inferior to whites in cognitive faculties and
intelligence. In the same year in which Bush invited him to appear before
the GOP task force, Shockley had written: "Our nobly intended welfare
programs may be encouraging dysgenics -- retrogressive evolution through
disproportionate reproduction of the genetically disadvantaged.... We fear
that 'fatuous beliefs' in the power of welfare money, unaided by eugenic
foresight, may contribute to a decline of human quality for all segments of
society."
During hearings on the Social Security amendments, Bush and witness
Alan Guttmacher had the following colloquy: Bush: Is there any
[opposition to Planned Parenthood] from any other organizations or
groups, civil rights groups?
Guttmacher: We do have problems. We are in a sensitive area in
regard particularly to the Negro. There are some elements in the
Negro group that feel we are trying to keep down the numbers. We are
very sensitive to this. We have a community relations department
headed by a most capable Negro social worker to try to handle that
part of the problem. This does, of course, cause us a good bit of
concern.
Bush: I appreciate that. For the record, I would like to say I am
1,000 percent in accord with the goals of your organization. I
think perhaps more than any other type of organization you can do
more in the field of poverty and mental health and everything else
than any other group that I can think of. I commend you.
This is an excerpt of Bush's unauthorized biography:
http://tarpley.net/online-books/george-bush-the-unauthorized-biography/
They killed Martin Luther King as his family's wrongful death civil suit against the CIA et al jury said in the late nineties. No MSM covered it. They also killed Malcolm X, JFK and a lot of other people. A credible JFK investigation : http://www.youtube.com/watch?v=srstQVfVNEM
List of people they've murdered (google their names and their stories will come up):
Congressmen Larry McDonald, Sonny Bono and Larkin
USMC Colonel Sabow
Pulitzer Prize winner Gary Webb
Journalist Danny Casolaro
Ex-mil intel Steve Kangas who wrote the great "Origins of the Overclass" : http://www.scribd.com/full/23098198?access_key=key-gfuw42onruwfrrhw413
US Special Forces Colonels Edward P Cutolo, Baker, and one other whose name escapes me (all in the same incident).
Here's International Committee of the Red Cross investigator David Guyyat on this incident and background info:
http://www.scribd.com/full/23098845?access_key=key-1zc7ubdmfbsl0rixgkfp
As you can see, they are the real drug cartels and here's a good recap of what is known about their activities:
http://www.youtube.com/watch?v=3nWXlWTiC5Y
Here's where he first came to light when opposing CIA director Deutch ( a Bush stooge) in a LA townhall after Iran Contra came to light (Ricky Ross is an interesting figure in this case)
http://www.youtube.com/watch?v=UT5MY3C86bk
Dois Gene "Chip" Tatum who wrote the Tatum Chronicles (very interesting) and whose testimony you can find on YouTube in an interview with 30 year FBI veteran Ted Gunderson (the ones on the beach have more info):
http://www.youtube.com/results?search_type=search_videos&search_query=ta...
This man's testimony confirms the accusations: http://www.youtube.com/results?search_type=search_videos&search_query=be....
Anyways, a good recap in written form of the decades long CIA drug trafficking is Rodney Stich's Drugging America: A Trojan Horse:
http://www.scribd.com/doc/22578561/Drugging-America-A-Trojan-Horse-2nd-ed
So, the old Birth Control league became Family Planning after WWII when eugenics became taboo. Margaret Sanger was their shill. I and many others believe the "war on drugs is really their new ethnic cleansing technique:
The "war on drugs" results:
http://www.leap.cc/cms/index.php?name=Web_Links&l_op=visit&lid=152
How it is done:
http://www.youtube.com/watch?v=HmgeCeGk--I
The overall picture:
http://www.youtube.com/results?search_type=search_videos&search_query=th...
GET A CLUE!!
What's your excuse for Africa?
And ethnic cleansing? Eurgenics?
I see black women all the time, they have 6,7,8 fuckin' kids with 3 or 4 different fathers they have no clue who they are. I don't know what planet you're on you, but you need to slow down on the conspiracies, and lay off the weed man.
Bill Gates and his "vaccination" program, KKK biatch!
Actually, I could give you the real history but why waste my breath on an ignorant redneck?
Yea...Bill Gates is killing off the blacks in Africa.
Ya know, maybe Adolph Hitler is still alive and he's doing it in secret.
I'm done here.
we could only wish you took your seething bigotry elsewhere.
a most fascinating and timely compendium on the overarching and esoteric master plan for mass genocide, though probably mostly lost on the bottom feeding groundlings whose obsessive fascination with media induced trivialization oftentimes reduces this important forum to a soundboard of impotent puerile inanity.
on top of your game today , eh there farmer :)
im looking for a farm to rest my head- ill bring seeds and dogs ..
Former slave owners have been dead for 100 years. Im amazed your bipolar brain generates enough power to move your body.
If the system implodes and it came to it, the "hicks" will wipe the floor with the bodies of you stupid, sorry urbanites who think a Glock popgun is actually a weapon. Dont kid yourself.
A Glock is what one uses to buy him/herself time to get to their weapon. :)
no-one could match the ignorance you flaunt on this subject.
Follow the Yellow Brick Road!
The Bernank is the Wizard!
http://i54.tinypic.com/2iqmqf8.jpg
You really think?
Ever read the potent myth of King Midas.
DOW down 309 at opening - yep ugly day!
CNBC trying to say it is all BS - talking down gold right now
GE (CNBC's parent corp) Jeff Imelts step child has most likely been influenced on what spin to take.
DJIA -150. Buy, sheeple. Buy.
Hah, and the FTSE shot up 0.5% as the DJIA climbed.
Good thing infinite monetized deficits don't matter.
My observation over time has been the first fifteen minutes of trade is usually in the wrong direction and literally changes course at 9:45. Is there some change that happens at that time? Today was 9:43, but close.
CNBC Front page headlines right now:
Bond Market Paying Little Heed To S&P Downgrade of US DebtStandard & Poor's spoke loudly and clearly when it downgraded US debt, but the Treasury market on Monday didn't appear to be listening.
Comex next?
like so many library books - OVERDUE!
Tyler, too much news out there mate! May need to consider launching new sites to categorize and organize the global corruption properly.
please let the TYLERS do their thing mate
2nd....+1000
this bodes poorly for EFSF. It is clear example that S&P will put any entity to the weakest thing that is providing the guarantee. the instant some portion of funded EFSF obligations aren't covered by AAA, the whole thing gets rated down a notch.
*claps hand to forehead*
DOH! Why didn't J.C. 'Junk Bond' Trichet think of that?
Oh well, back to the drawing board. Tomorrow is another day. ;-)
Armageddon - Bitchezzzzz
AAArmageddon
AArmageddon
well. if Warren says so
+10, mates. High wit.
AA+lcoholocaust
Collapseddon
Johnny: Hey Skippy, why does your DOW 10,000 hat look like it's been run over by a John Deere combine? Um, a few times?
Skippy: URRRrrrrrrrkkk.....
Ramp job!
Strong chance we end green today! Kitchen sink time!
Cramer says - he needs to see gold Crushed today on CNBC right now.
That's because he knows if it hits $1,764 it goes exponential.
But, but, my investment advisor said these municipal bonds were safe.
Just picked up some Purina stock, because there's going to be a run on cat food soon.
How ugly was the market?
It was so ugly my dog ran away, and he's been dead for two years.
Cash is king, and it is walking on a yellow brick road, soon they will be one and the same again, hooray!
CNBC's Cramer at 9:38 am
"Buyers are coming in! "
those aren't buyers, they're repo men
Zombies.
From where is Cramer doing his show? From the Bunker set of Downfall?
In that case I'd say Geithner is with him.
What a bounce from open. good for re shorting i guess.
Market close positive is no QE3 or TARP2 tomorrow. Markets down big time today tomorrow QE3 or TARP2.
US can decide.
so the 100k plus "volume" on the /es in the past 9 minutes is short covering, or the fed stealth QE3? Am i the only one nervous about my short position?
US remains gold standard :ho ho
http://finance.yahoo.com/banking-budgeting/article/113272/us-debt-remain...
Where do I sign up for a FEMA camp?
Just start robbing banks until your caught.
FBI: 'Grandpa Bandit' now tied to 21 bank robberies, including one in Syracusehttp://www.syracuse.com/news/index.ssf/2010/06/fbi_grandpa_bandit_now_ti...
MUB getting fisted
stfu redneck
racist
pot-kettle
ignorant, ugly scumbag
Children! Play nicely!
Anyone on PPT watch this morning? What's the word?
Dick. As in BSDs. As in, All Hands on Dick.
Dick Fuld? Or Nixon's corpse?
I feel the PPT, the farce is with us.
The funny thing is when this whole thing comes crashing down all the people holding ANYTHING on papper will loose it all, why because it was all to do with the OLD system and so null and void .
let the Paper Bugs Burn !!
Please stop with the "drama" Tyler. Where's the "bloodbath?" The Dow is only down 175 (big deal). The Dollar is up and bond prices are up. Please show me the "bloodbath." I don't see it. You're way too dramatic.
I believe the reference was to the downgrades.
Dow 230 right now. We shall all see.
DavidDavid,
I will look for you and remember you said this. Bloodbath.
Up or down is relative isn't it. i would suggest that the true measure is and always has been gold.
Market is down v. gold. Eur is down v. gold. Bonds are down v. gold. The whole fucking world is down and gold remains the same. That's the beauty of it. Gold clears all the clutter, cleans up all the intertwined relationships onto one simple, easily deciphered shiny metal. It's the Rosetta stone.
I love chaos! This is marvelous, simply marvelous.
Pretty ugly out there right now -- however it could be quite a bit worse. The PTT is obviously caffine amped, flush with cash, and hitting the 'BUY' button like mad.
I know what the DTCC is, but I do not know what other options there are for stocks. I want to continue to hold gold mining stocks...
Who competes with the DTCC? Isn't it a monopoly? Is the only recourse ordering certificates out?
Zero edge. We will close the day positive.
So you're buying Spanish and Italian debt too, Ben?
That's what I was afraid of.
Your balance sheet looks like Fannie Mae's did, four years ago.
We'll see after you're ramp job runs out of steam Benny.
are you taking Warren's meds again?
He's giving them to Barry.
Ben,
Glad to see you posting you fuck.
Is the Fed gonna be set up as the world's "Bad Bank" eventually?
Do you sleep at night?
Are you under a physician's care?
Have you ever owned and operated a business?
Do you believe in Hell?
Dupe.
Come on Short positions!
What is Resistance for S&P? 1155?
I'm telling you it's not happening fast enough!
DOW 10,800 by end of day!
This baby is gonna come undone.
Going to end green and green by a lot. They're going to dump trillions into equities today if they have to. 200+ pt bounce already from the opening lows.
Reuters: "AIG sues BofA for $10 billion over "massive fraud".
Muhahhaaa! Die you ponzi sucking SOB. I can't wait 'till BoA goes tits up. I'll do a vodka induced happy-dance on thier grave all while singing, "Ding-dong the bitch is dead.."
They are the least evil of the resident evil. They are being sacrificed so that the other zombies may zombie on. It looks like a victory but it is not. They forced BAC to eat Countrywide to "save" the system the last time. While I hate them with you, I refuse to swallow what is really being served about this.
Bring out the gimp!!
i'm gonna close my stock portfolio out and just gamble at the casino from now on
free drinks, rooms, and even blowjobs with a big enuf deposit into my four queens account
vegas bitchez
this stuff is no big deal....
what we have to watch for is the collateral requirements for the lending/repo mkts. I suspect this will be a non issue as well despite the seemingly endless supply of idiot journalists parrotting the same nonsense.
Whoa, hold the phone. New badness from Fukushima: A re-meltdown (remember the super, no super-duper high radiation readings lately?)
Kyodo News:http://english.kyodonews.jp/news/2011/08/107744.html
Study says nuclear fuel at Fukushima reactor possibly melted twiceTOKYO, Aug. 8, Kyodo
Fuel inside one of the reactors at the crippled nuclear complex in Fukushima Prefecture, which was believed to have been kept cool at the bottom of the pressure vessel after its core suffered a meltdown, has possibly breached the vessel after melting again at the bottom of the vessel, an expert's study showed Monday.
The study by Fumiya Tanabe, an expert in nuclear safety, said most of the fuel at the No. 3 reactor may have fallen into the containment vessel underneath, and if so, the current method used to cool the reactor would need reviewing, which could force the plant operator to revise its schedule to contain the five-month-old disaster.
The plant operator, Tokyo Electric Power Co. earlier said the Nos. 1 to 3 reactors' cores are assumed to have suffered meltdowns, although the melted fuel is believed to be kept cool and solidified at the bottom of each reactor pressure vessel after water was injected into the vessel as an emergency measure.
why didn't they ever say anything about the MBS etc. ? wasn't time yet i guess. now its time. they are slowing letting the air out of the american balloon and nobody cares. all amerikans care about is that stupid football is coming. gads, what a country?
Go go circut breaker shoes!
The Barama empire has clearly called on the MSM (Obots) to bash S&P like a bunch of children. Idiots! S&P had warned of a downgrade, repeatedly, and the DC bureaucrats ignored it. Now they cry foul like the fukn losers they are.
IT'S NOT S&P'S FAULT!!!
QE2 officially ended June 30th. The market is frozen shortly before and after, then zig zags around for a bit. Market hopes for more QE announcments but doesn't get it. Congress pulls a 2 months charade and at the last minute, agrees to some austerity-lite but does not announce any further stimulus or easing.
Market sells off and voila, the money flows magically into worthless UST paper anyway.
Who needs a POMO when the propaganda out there is convincing enough to scare stupid investors into buying the cabal's favorite gimick to date? The cabal doesn't even have to pay much for it as more stupid investors pile into the paper, the cost of the paper goes down with the yield.
Brilliant! Fucking brilliant! And Warren Buffet adds to the propaganda and scare by promoting the paper to stupid investors!
America needs to get rid of the cabal, pronto subito. Let them eat the dirt at the walls of Jericho.
upgrayedd!
The Year 2030:
Http://www.youtube.com/watch?v=XCLvSbjAgAY
...did you say bloodbath? The Vapmires have a song for that. http://www.youtube.com/watch?v=1hiqpOYmc_I&feature=channel_video_title
FTSE 100 5160.0 5161.0 14:57 -85.8Wall Street
11255.0 11257.0 14:57 -176.5it was - 200 +++ but the machines are buying it upwards.. or trying! lets see how many people want out verse how fast the machines can buy!
anyone want to bet that the FED can spend faster than the people can demand fiat for stock certificates? LOL!!
Wall Street
11227.0 11229.0 15:04 -204.5Back to minus 200 with the FED with full court pressure! being applied but no justice in the zone "D" for the Bernake!
silver and gold have been bought down by the FED since the open!
BUT!!
Gold is climbing back to $1,700!
Silver is fighting back to $40!
the markets will open at minus 200(ish).
Wall Street
11210.0 11212.0 15:13 -221.5Down 220 and this is
after the FED Bought
it back up! OOPS!
minus 250! and climbing downward! the Money Hole Must be Fed!
Minus 283!
Gold is $1,700 once again!
Minus 330 and going deeper!
someone else has to take over! I am going for brekfast! enjoy the rest of your monrings!
They are going to throw everything including the kitchen sink into the market today. You all are some brave fuckers today. Alot of people going to bend over and take it long deep and hard! Wish I was not at work, I could be siping on some crown and laughing my ass off watching them spin this one.
"My observation over time has been the first fifteen minutes of trade is usually in the wrong direction and literally changes course at 9:45. Is there some change that happens at that time? Today was 9:43, but close."
Yes, they usually suck the mutual fund money (401K)in at the highs on mondays, then let it drop. I;m not saying they do this everytime, maybe in 80% of the cases.
Don't underestimate the genius that is Cramer:
http://www.thestreet.com/_yahoo/story/11213286/1/bank-of-america-still-a...
One thing to note well this time:
Main banks no longer have the liquidity of black economy cash (real cash - in notes - not electronic) to fall back on. Although the US gov. has been maintaining relations with Mexican gangs, there simply hasn't been enough time (or enough nights of blow & hookers, however much Wall St. has tried to prop the market up).
Last time, there was about $350 - $650 billion in actual cash thrown in, that was available at branch level and more importantly - available to the high street.
http://www.guardian.co.uk/global/2009/dec/13/drug-money-banks-saved-un-c...
http://www.bloomberg.com/news/2010-06-29/banks-financing-mexico-s-drug-c...
http://www.unodc.org/documents/wdr/WDR_2009/WDR2009_eng_web.pdf
Good luck this time when liquidity doesn't appear - because, you know, the trillions allegedly in Corporate vaults might never have been actually printed. It takes a while to print a billion, let alone a trillion. Electronic cash doesn't really help, even if EBTs come as electronic cards. And yes, here's hoping that when the money vanishes this time, the people who took the blood money (weapons, diamonds, drugs, slaves, to mention a few) realise that there's a tab to be paid. Ask Madoff's son.
p.s.
The intarweb seas are very rough at the moment - Syrian M.O.D getting hacked, 70 police forces in the USA hacked, China / FBI sniping over recent operations, even ZH is leading to patsies getting nuked from orbit. Expect localised network outages when SHTF.
Now then, back to the scheduled show, /popcorn... The UK is having "riots" (the old "let them have a couple of cars to burn, old ones we've insured, then stand around doing nothing while looting is going on, so the middle classes will stand in fear of the 'night of the big niggers' stealing their hard earned goods" trick - didn't see much kettling, or police getting baton handy, did you?1) and speaking of which, the House of Saud just 'ok'd' an intervention into Syria2. Word is that by Wednesday, about ten more US munis will be filing ('chapter 7 plus chapter 12 equals chapter 19') and whilst the US is smoking, the teabaggers are going after the EPA.
Gets the blood moving, doesn't it?
Gold is not money, unless minted as coinage with a face value of one dollar, or whatever (same with silver).
When I were a lad (in England) I used to collect silver threepenny pieces - four to a shilling, so 80 to a pound and 84 to a gold sovereign.
Complicated eh!
Bear with me because, when I were a lad, all such coinage was still in circulation - just.
I wanted to buy a tortoise costing five shillings and I had 20 silver threepenny pieces saved, so I went and bought that tortoise; little knowing that in ordinary (paper) currency terms, the silver content was worth far more than the face value of three pence (in copper, as it happens); nor that if I had kept hold of those coins as collector items, they would now be 'worth' FAR more than the current selling price of just the metal content.
Nothing has changed.
Say you have a gold coin stamped with a face value of $50, or a silver coin stamped with a face value of $1.
If you go into a shop to buy anything, the shopkeeper will only accept the face value - not what may or may not be the melted price of the metal in bullion markets, or some collector valuation for antique coinage.
As far as actually making transactions are concerned PM coinage and paper are equally fiat.
One minor difference is that JCT/The Bernanke/King can't devalue the the perception of the value of your PM by printing more.
Well no, but (for instance) 'gold' and 'silver' coins can and have been adulterated with baser metals ... so what is your point?
I mean that diluting the PM content of a coin is essentially the same as printing more notes, because more 'apparently gold' coins can be minted ... up to the point of having no gold content at all, if some look-alike alloy is available. I daresay that gold-plated lead would fool most people most of the time.
I scarcely think that i will be proffering "my gold coin stamped with a $50 value" to a "shopkeeper" anytime soon. your quaint pedestrian commentary is certainly charming but portrays perhaps a decidedly disingenuous and hopelessly shortsighted oversimplification of a complex issue apparently beyond your understanding.
Oversimplification LOL.
Get your head around this (when metals were the main currency):
One farthing = two groats.
Two farthings = one half penny.
Two half pennies = one penny.
Twelve pennies = one shilling.
Five shillings = a crown, and four crowns = one pound.
And you'd better not have a hole in your pocket whilst carrying all that coinage.
It is apparently beyond your understanding that paper forms of exchange and the adoption of the dollar, the digital pound, etc. made things FAR simpler for those like you.
If you really want to get into it; then I agree fractional reserve banking is very bad and started when goldsmiths realized that they could issue promissary notes for more gold than they actually had in their vaults.
Nothing changes, because idiots still buy paper promises on physical gold.
I have nothing against having physical gold as some kind of back up, if you can afford it and if you are sure you can convert it later on.
But bottom line is that any metal is just a commodity with perceived value; so no different from a dollar bill.
BTW. How can I be "perhaps" and "decidedly" disingenuous? Make up your mind. Which is it ... not that I was being disingenuos anyway. That's just your fiat evaluation of what I wrote and you happen to be wrong.
Yes, it made it far easier for financial fucknuts to steal real wealth from the system without adding any real value. No thanks. I can not wait to pay of the remainder of my mortgage on the 300+ acres of arable land with an ounce of physical.
Until accountability returns, things only get worse.
"Unity consciousness is something we need to craft and work with to see manifested through the support of this Ninth wave and again it may only be possible to do so after a global monetary collapse. The point to realize is that oneness is not an attribute of ourselves as individuals, but of our relationships to others and the divine.
To see the role of the monetary system in this let us take a look at how this currently works: Basically, in the modern world there are places called ‘banks” that have computers in which many people have so-called “accounts”. In the accounts of these computers there are numbers, which are measures (in the US given as dollars) of how much “money” you own. A large proportion of humanity in fact does not have any such “account”, whereas some people may have 10.000 ($) associated with it. Others may have 10.000.000 or even 10.000.000.000 ($) associated with their names in these bank computers. Moreover, for a large number of people these numbers are negative because the banks have “lended” “money” to them. Thus there are huge differences in these numbers for different people despite the fact that people work approximately the same amount of time everywhere. Sometimes the numbers may be related to a service done by someone to the planet, but more often than not it is the other way around. Those that cause the most damage to our planet in fact often have the highest numbers in these bank computers. Regardless, the point to realize is that the numbers in these bank computers more than anything else defines a power structure, where those with high numbers dominate those with low or negative numbers. Money has no real existence, but the legal definitions of a society maintains a system of dominance based on these computer numbers.
These numbers in the bank computers (Obviously the same applies to stocks, funds etc) define the power structures of our societies and determine almost all human relationships, what we as a species do and focus on in our life on earth. There are of course some minor exceptions, but in the overall picture it is true that the measures given to each individual in these bank computers determine human life in its totality. With such a monetary system it seems obvious that unity consciousness cannot exist in a real sense, simply because those that have high numbers in the bank computers dominate and decide what the others are to do, and how they are to spend their time, and such dominance is inconsistent with oneness. The current monetary system is simply not consistent with the unity consciousness that is developed by the Ninth wave and its days and this is the reason that I suspect that a global financial collapse would happen on a day and especially on this fifth day of the ninth wave.
We may also realize that if this monetary system collapses we would for the first time be fully sovereign souls and totally responsible for what we create. Here would be no one to blame and project our negativity on if the power structure defined by these bank computers disappeared. The consequence would be that we all become fully responsible for the course of events not only regarding what we do as individuals, but also as a collective. For those taking such a path such a responsible course of action will flow from unity consciousness with the divine and all of its manifestations of life."
carl calleman
http://www.silverrevolucion.com/story.php?title=the-beginning-of-the-fou...
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