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Plunge Protection Team Attacks BofA: This Ends Now

Joe Stalin once said: "It is not that important how people vote. The most important is who counts these votes!"

To stay in power, incumbents use any legal and "not so legal" means to keep themselves in the office.

Plunge Protection Team Attacks BofA: This Ends Now

Avery Goodman,
You are absolutely correct that no lawless society can function/exist for long.

How can a bank loan money if borrowers do not need to pay back?
No contracts and/or business deals can be initiated and implemented if the parties can cancel/terminate their obligations at-will.

Finally, why did communist Soviet Union collapse and why is communist China still there and growing stronger and stronger?
After living in Soviet Union for 20 years, I have a very simple answer: It is corruption and lack of lawlessness.

In the last 20+ years prior to the Soviet collapse, corruption was flourishing with impunity and rules of law were totally disregarded. At the same time in China, high corruption was/is punishable by death with properties/estates are subject to total confiscation.

Why Our Credit Crunch Mirrors the Weimar Hyperinflation from 1919-1923

Friar Hilarius,

You are correct, i.e., there will be a revolution in America.

Why Our Credit Crunch Mirrors the Weimar Hyperinflation from 1919-1923

I am totally mystified by the media and endless blogs discussing how Barack Obama, Henry Paulson, Tim Geithner and Ben Bernanke are so naive, incompetent, foolish and even stupid making all the wrong moves trying to fix US economy and specifically US banking system.

Well, I do NOT think they are either incompetent or stupid at all. They are very smart people. I think they know exactly what they are doing.

So,
* Why are they trying to save these very corrupt & dysfunctional financial system and the criminal Wall-Street financial elite responsible for the present crisis?
* Why don't they use the already existing laws to close insolvent banks and fire their CEOs, VPs, etc., and confiscate all the stolen loot?
* How come there are no Congressional investigations of the causes of the present crisis?

Well, the answer is very simple: all these very smart people are trying to protect all these criminals and their corrupt & dysfunctional institution because they are a part of this criminal banking & government cartel.

They are trying to save this cartel at ANY COST, even at expense of ruining the US economy and the entire country.

The real question: How long will these criminals be able to commit their crimes and fraud with complete impunity before American people start to recognise what is going on?

Barrick Gold Nails the Hedge

It appears that Barrick is more a gambling company rather than a mining one.

The CC answers are evasive rather then clear and direct. It is a very stupid tactic since everybody reading the company security reports know the real answers.

9.5 mln oz gold is almost ABX 1.5 years gold production. And with ABX $450/oz gold production cost, ABX is in a deep financial hole.

Dennis Gartman on Gold, Oil, Government and the Economy

"Before devoting himself full-time to The Gartman Letter, Dennis analyzed cotton supply and demand in the U.S. textile industry as an economist for Cotton, Inc."

He should stay with cotton...

The Fed's Big Gamble

It is a gamble when a government controlled economy supposedly be more effective than a market economy.

In the past, a government controlled economy has always failed regardless when and where it was tried/imposed. Bailouts of failed businesses have never contributed to an economic progress. It just postponed the inevitable making a bad situation much more worst.

Stagflation and Peak Oil: How Related Are They? (Part II)

Real Estate? Larry, how much did they pay you for this nonsense.

Finally, there will be no Stagflation. Hyperinflation leading to a depression is more likely.

Long Ideas for an Upcoming Crash

I would like to remind that this is an election year in America.

Consequently, neither political party likes to go to the election having at best a deep recession on their hands. And the Fed and US Treasure are doing their best to support politicians.

But, immediately following the elections, a hell will break loose with interest rates shooting straight up.

The USA can not allow its currency to collapse and being unable to pay for oil and other materials for its basic needs.