Wall Street Breakfast: Must-Know News [View article]
No, this is our congress' new definition of "uniform law" of bankruptcy. Weed out all the small, non-union taxpaying entities to make way for more tax dependent voters.
Gold is the wealth of nations. Basel tier 1 instruments are nothing more than an acknowledgement of the need of a ballast in the ship of state. The unseen, properly weighted and positioned keel may appear to be unnecessary on the surface, but it's purpose of providing stability and thrust when underway is absolutely imperative.
Social structures without such backing function as jetskis, life rafts and row boats. Gold allows for taking direction into the face of nature's elements but must still be combined with properly set sails, and a competent crew. It remains the physical counterpart of the human term "trust".
Wall Street Breakfast: Must-Know News [View article]
The USG can borrow at under 2% for 10 years and under 3% for 30 years and pay its creditors back in its own currency...
"its own currency"? Last time I checked, and even your comment states, the USG is "renting" currency from the private sector fed at 2-3%. I think it's high time the USG went back to the constitution and produced our own non-interest bearing currency and tell these Jekyll Islanders to pound sand. Or better yet, have them pay interest for the privilege of using USG produced currency.
Wall Street Breakfast: Must-Know News [View article]
In comparison, any municipal bankruptcies, state and federal budget imbalances could be solved by an American willingness to tax themselves sufficiently...
Or to allow an orderly bankruptcy. Please, bankruptcy is not the problem, it is the solution. That's why there is an entirely separate section under the very first article in the US constitution covering it's orderly implementation.
The problem we have is too many posers in (s)elected offices unwilling to step up to the plate and conduct proper business for the people.
Why Gold-Related Investments Are Slowly Becoming Worthless [View article]
In our lifetimes the price of gold will continue its long downward spiral in response to gold's basic underlying market forces. On the other hand, the price of gold on any particular day will fluctuate, often significantly, as new buyers and sellers appear - so some traders will make lots of money and some will lose.
There seem to be mixing of metaphores when your last comment of "lots of money" is given as the object, but without definition.
I understand gold's purpose in the economy as similar to the role blood serves a living person.
My heart will pump 7200 liters of blood in 24 hours but it only takes 5 liters to accomplish the task.
The point I believe you're trying to make is the same historical argument that arises with each new generation, the question of velocity and reach. Ever since William Jennings Bryan gave his "Cross of Gold" speech, our current experiment in floating currencies has found popularity. In reality his comments had more to do with accepting silver in addition to gold as legitimate exchanges in coinage.
Golds allure has as much to do with it's refining, size, malleablity and indestructible nature as it does it's otherwise uselessness for any other purpose than a delivery vehicle of worth.
Money, on the other hand is inexorably tied to the rule of law. Coercive law abidence is effective but eventually produces rebellion if it's ultimate power to inflict capital punishment is not exercised. Either way, money as an end to itself is as meaningless as vaults of gold sitting idle.
Personally, the US original experiment of limiting external governmental authority on the people in the country by ceding only those rights and privileges specifically designated to specific offices of trust to be temporarily occupied by fellow citizens for the benefit of the whole body remains the best model today.
Voluntary compliance works best and provides the opportunity to conduct legitimate financial transactions that benefit each and all of the participants rather than a gambling, deceitful or coercive transference of wealth that aggrevates, frustrates and breaks down trust.
Wall Street Breakfast: Must-Know News [View article]
Fannie Mae...failed to establish an "acceptable and effective" way to monitor foreclosure proceedings...and missed chances to catch law firms illegally signing foreclosure documents...but...the FHFA lacks examiners to monitor Fannie...
How could they have "missed chances" for catching illegal activity that has continued through 2011? Has the statute of limitations already expired? This is unacceptable and is at the heart of the collapse of the financial melt down of the US middle class and we're being told nothing can be done and by the way, we didn't do it?
Don't tell me the fateful day-September 8, 2008, the first day of FHFA's conservatorship of Fannie and Freddie, that this was unknown.
I woke up this morning with a child's song in my head we sang on the church bus as a kid. It was "The Wise Man Song". The rains came down and the floods came up and the house on the rock stood firm. The foolish man built his house on the sand and the rains came tumbling down. Oooohhh, the rains came down and the floods came up .....3X ... and the house on the sand went... (strike hands together here)
Wall Street Breakfast: Must-Know News [View article]
Something tells me this is not what was envisioned by uniformed laws of bankruptcy. Once the bailouts were established, the pattern of pragmatism has been established. Uniformed pragmatism, the new normal. No wonder the market continues to vomit like a drunken adolescent. imo.
Wall Street Breakfast: Must-Know News [View article]
The latest chuckle I got was the learned response that recent RE purchasers will be legally protected because they bought in "good faith".
I remember buying a tainted burger once in "good faith". It still had to pass through the system and cause undue pain, anxiety and hardship. (And by the way, I was still out my purchase price)
Sorry folks, trust has been breached, and like my pop used to say, "you can't unring a bell".
Wall Street Breakfast: Must-Know News [View article]
...Unions have their problems too, but who else speaks for the common laborer who only wants a fair chance at work to provide for his family?...
Correct me if I'm wrong, but I believe 3 out of 4 union workers work for the government and since government employment by definition can only spend wealth that's generated by the private sector, these expenditures are doubly destructive in that no wealth generation is created by their transfers.
Granted, many of these service providers are in law enforcement due to our inability to live moral and decent lives, (no thanks to the education we receive from the union dominated public schools), but many other services are along the polishing seashells on the beach variety.
What many of these union members are beginning to wake up to is that their lower paid, less secure and higher producing counterparts in the private sector are eying them with disdain due to their bussed in rallies at taxpayer expense, constant "it's not enough" mantra and lack of accountability when programs fail. imo.
Wall Street Breakfast: Must-Know News [View article]
Obama signs financial reform law. ...saying "it is designed to make sure that everyone follows the same set of rules...not tricks and traps."
“The 2,300 or so pages of Dodd-Frank only provides rough framework for the future regulatory structure,” said Kaplan, a former senior attorney at the Office of Thrift Supervision. “The full impact of the act won’t be known until the regulatory agencies complete the wiring, plumbing, drywalls and polish the new floors through the issuance of hundreds of regulations and possibly thousands of interpretations.”
I've got news for the "rules makers", their actions speak louder than the words they generate. When our government is the prime growth sector in the economy, and their sole purpose is to further constrict and feed off the non-governmentally employed, "tricks and traps" will be the perfect definition of the tools of the trade these legions of "employed" will devise.
After a sensible call for a jobs summit, "President Obama’s Herbert Hoover-like alter ego has re-emerged again to warn us again about the evils of government deficit spending." An argument why deficit terrorism isn't the answer. [View news story]
...In a year Obama has gone from “we cannot afford not to do this” to “we’ve run out of money”...
I guess next we'll have to see if the prodigal son will decide to leave the pig pen and return to pop's house. At least he has the memories of blowing our inheritance, and to think, it only took him a year!
Wall Street Breakfast: Must-Know News [View article]
Hillary Rodham Clinton convened an Accountability Review Board...
I find it extremely ironic that her 'unclassified' report begins with this quote: “Those who cannot remember the past are condemned to repeat it.” -- George Santayana, Reason in Common Sense (1905)
This is the same Hillary of the "I don't recall" fame. It seems we will continue to repeat her ill fated decisions and non-decisions for some time to come.
Wall Street Breakfast: Must-Know News [View article]
can't be all down without any new bad news...
Maybe logic would say this, but we've been out of logic for some time now. It could be the degree of bad news we've been digesting is becoming very real.
To the point of a victory lap by the president resulting in a sit down with 20 top CEOs of American business, (and not of the financial sort), may be indicative of the wake up call the president now sees as crucial for recovery.
But probably not, imo. Humility is not his strong suit.
Wall Street Breakfast: Must-Know News [View article]
So Germany has a vested interest in seeing that Spain pulls through the difficulty their experiencing in their slumping residential real estate market. We find it somewhat amusing to say Greece needs to sell off some of their sites of antiquity to pay for their years of profligate spending but we in the US turn around and not only tolerate but we’re taught to be thankful we have a benevolent federal reserve that’s scarfing up real estate ownership in the US at the rate of 55 million frns per hour, 24 hours a day, 365 days a year from now on.
Why are we not rather up in arms?
What are they giving in exchange for this right of ownership? Ethereal currency and cypher entries in international member bank ledgers. At least the Indians received trinkets in their trade for Manhattan. This episode will go down in the history books as a greater land grab than Manhattan, Louisiana, California and Alaska combined. Goodbye US middle class, it’s been real. Really.
Wall Street Breakfast: Must-Know News [View article]
Basel III And Gold [View article]
Social structures without such backing function as jetskis, life rafts and row boats. Gold allows for taking direction into the face of nature's elements but must still be combined with properly set sails, and a competent crew. It remains the physical counterpart of the human term "trust".
jmo.
Wall Street Breakfast: Must-Know News [View article]
"its own currency"? Last time I checked, and even your comment states, the USG is "renting" currency from the private sector fed at 2-3%. I think it's high time the USG went back to the constitution and produced our own non-interest bearing currency and tell these Jekyll Islanders to pound sand. Or better yet, have them pay interest for the privilege of using USG produced currency.
But then, that's jmo.
Wall Street Breakfast: Must-Know News [View article]
Or to allow an orderly bankruptcy. Please, bankruptcy is not the problem, it is the solution. That's why there is an entirely separate section under the very first article in the US constitution covering it's orderly implementation.
The problem we have is too many posers in (s)elected offices unwilling to step up to the plate and conduct proper business for the people.
imo.
Why Gold-Related Investments Are Slowly Becoming Worthless [View article]
There seem to be mixing of metaphores when your last comment of "lots of money" is given as the object, but without definition.
I understand gold's purpose in the economy as similar to the role blood serves a living person.
My heart will pump 7200 liters of blood in 24 hours but it only takes 5 liters to accomplish the task.
The point I believe you're trying to make is the same historical argument that arises with each new generation, the question of velocity and reach. Ever since William Jennings Bryan gave his "Cross of Gold" speech, our current experiment in floating currencies has found popularity. In reality his comments had more to do with accepting silver in addition to gold as legitimate exchanges in coinage.
Golds allure has as much to do with it's refining, size, malleablity and indestructible nature as it does it's otherwise uselessness for any other purpose than a delivery vehicle of worth.
Money, on the other hand is inexorably tied to the rule of law. Coercive law abidence is effective but eventually produces rebellion if it's ultimate power to inflict capital punishment is not exercised. Either way, money as an end to itself is as meaningless as vaults of gold sitting idle.
Personally, the US original experiment of limiting external governmental authority on the people in the country by ceding only those rights and privileges specifically designated to specific offices of trust to be temporarily occupied by fellow citizens for the benefit of the whole body remains the best model today.
Voluntary compliance works best and provides the opportunity to conduct legitimate financial transactions that benefit each and all of the participants rather than a gambling, deceitful or coercive transference of wealth that aggrevates, frustrates and breaks down trust.
just my .02
Wall Street Breakfast: Must-Know News [View article]
How could they have "missed chances" for catching illegal activity that has continued through 2011? Has the statute of limitations already expired? This is unacceptable and is at the heart of the collapse of the financial melt down of the US middle class and we're being told nothing can be done and by the way, we didn't do it?
Don't tell me the fateful day-September 8, 2008, the first day of FHFA's conservatorship of Fannie and Freddie, that this was unknown.
I woke up this morning with a child's song in my head we sang on the church bus as a kid. It was "The Wise Man Song". The rains came down and the floods came up and the house on the rock stood firm. The foolish man built his house on the sand and the rains came tumbling down. Oooohhh, the rains came down and the floods came up .....3X ... and the house on the sand went... (strike hands together here)
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
I remember buying a tainted burger once in "good faith". It still had to pass through the system and cause undue pain, anxiety and hardship. (And by the way, I was still out my purchase price)
Sorry folks, trust has been breached, and like my pop used to say, "you can't unring a bell".
Wall Street Breakfast: Must-Know News [View article]
Correct me if I'm wrong, but I believe 3 out of 4 union workers work for the government and since government employment by definition can only spend wealth that's generated by the private sector, these expenditures are doubly destructive in that no wealth generation is created by their transfers.
Granted, many of these service providers are in law enforcement due to our inability to live moral and decent lives, (no thanks to the education we receive from the union dominated public schools), but many other services are along the polishing seashells on the beach variety.
What many of these union members are beginning to wake up to is that their lower paid, less secure and higher producing counterparts in the private sector are eying them with disdain due to their bussed in rallies at taxpayer expense, constant "it's not enough" mantra and lack of accountability when programs fail. imo.
Wall Street Breakfast: Must-Know News [View article]
“The 2,300 or so pages of Dodd-Frank only provides rough framework for the future regulatory structure,” said Kaplan, a former senior attorney at the Office of Thrift Supervision. “The full impact of the act won’t be known until the regulatory agencies complete the wiring, plumbing, drywalls and polish the new floors through the issuance of hundreds of regulations and possibly thousands of interpretations.”
I've got news for the "rules makers", their actions speak louder than the words they generate. When our government is the prime growth sector in the economy, and their sole purpose is to further constrict and feed off the non-governmentally employed, "tricks and traps" will be the perfect definition of the tools of the trade these legions of "employed" will devise.
The tumor continues to grow unabated. imo
After a sensible call for a jobs summit, "President Obama’s Herbert Hoover-like alter ego has re-emerged again to warn us again about the evils of government deficit spending." An argument why deficit terrorism isn't the answer. [View news story]
I guess next we'll have to see if the prodigal son will decide to leave the pig pen and return to pop's house. At least he has the memories of blowing our inheritance, and to think, it only took him a year!
Wall Street Breakfast: Must-Know News [View article]
I find it extremely ironic that her 'unclassified' report begins with this quote: “Those who cannot remember the past are condemned to repeat it.”
-- George Santayana, Reason in Common Sense (1905)
This is the same Hillary of the "I don't recall" fame. It seems we will continue to repeat her ill fated decisions and non-decisions for some time to come.
Gold: The Rally Is Just Around The Corner [View article]
The term comingling has been around a long time, I think the word you're referring to is "Corzined".
Wall Street Breakfast: Must-Know News [View article]
Maybe logic would say this, but we've been out of logic for some time now. It could be the degree of bad news we've been digesting is becoming very real.
To the point of a victory lap by the president resulting in a sit down with 20 top CEOs of American business, (and not of the financial sort), may be indicative of the wake up call the president now sees as crucial for recovery.
But probably not, imo. Humility is not his strong suit.
Wall Street Breakfast: Must-Know News [View article]
Why are we not rather up in arms?
What are they giving in exchange for this right of ownership? Ethereal currency and cypher entries in international member bank ledgers. At least the Indians received trinkets in their trade for Manhattan. This episode will go down in the history books as a greater land grab than Manhattan, Louisiana, California and Alaska combined.
Goodbye US middle class, it’s been real. Really.
Imho.