Clever Crooks Cheat Chumps

Congress is stuck thanks to the flood of money flowing into the GOP from GS and other corrupting bankers so we have, so far, no real reforms and the reforms proposed by the Democrats don’t even begin to scratch the surface of what went wrong and this is due to lack of analysis…no surprise to me.  The Republicans heavily support Ron Paul’s Fed bill but this is lukewarm, at best, a tactical move to fool voters just like the Democratic moves are the same thing: fooling voters is paramount here.  The voters want serious change, over 60% of the voters want this and that number corresponds nearly exactly with the vote tally for Obama.

ΩΩWhatever AIPAC wants, it gets with a 90%+ vote, no debate at all.  If 60%+ Americans want something, it moves like molasses last winter during a blizzard in DC.  The crooks infesting all our financial systems are not the real problem.  The true problem is how our Congress is now totally corrupted due to the fiction of raising funds for ‘elections’.  This bribery system is the top priority item that must be fixed.  No one is suggesting fixing this even after the right wing Supreme Court justices (all appointed by Republicans) decided to dump nearly all campaign finance laws.

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ΩΩDC should be shut down until the issue of finance reforms of our elections is finally hammered out.  Every time Congress seems to propose regulating or outlawing or controlling ANYTHING, a flood of money and lobbyists pour in, the Congressional groups get tons of bribes and everyone goes home, fat and happy.  And nothing gets really fixed at all which is exactly why our huge empire is going bankrupt very, very fast.  And all our systems are breaking down under this legalized looting.

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ΩΩThe finance world mess is a classic example.  The players in this game spent immense funds, controlling and bribing the political process.  They got the unregulated, free-for-all system that they used to engorge themselves on vast mountains of wealth.  In the process, they utterly destroyed the world’s financial systems and wrecked our entire economic base.  This screams for severe reforms and of course, part of this process involves arresting and even executing the people who destroyed our entire economic system.  This is the only way to warn off future interlopers wishing to reproduce this catastrophe for personal gain.

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Op-Ed Columnist – Berating the Rating Agencies – NYTimes.com

The bad news is that most of the headlines were about the wrong e-mails. When Goldman Sachs employees bragged about the money they had made by shorting the housing market, it was ugly, but that didn’t amount to wrongdoing.

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No, the e-mail messages you should be focusing on are the ones from employees at the credit rating agencies, which bestowed AAA ratings on hundreds of billions of dollars’ worth of dubious assets, nearly all of which have since turned out to be toxic waste. And no, that’s not hyperbole: of AAA-rated subprime-mortgage-backed securities issued in 2006, 93 percent — 93 percent! — have now been downgraded to junk status.

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What those e-mails reveal is a deeply corrupt system. And it’s a system that financial reform, as currently proposed, wouldn’t fix.

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The rating agencies began as market researchers, selling assessments of corporate debt to people considering whether to buy that debt. Eventually, however, they morphed into something quite different: companies that were hired by the people selling debt to give that debt a seal of approval.

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Those seals of approval came to play a central role in our whole financial system, especially for institutional investors like pension funds, which would buy your bonds if and only if they received that coveted AAA rating.

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ΩΩKrugman is correct in this editorial (finally!) but he doesn’t connect this mysterious morphing of the credit rating groups with Congressional corruption.  That is, if Congress was doing its job of regulating, controlling and PROTECTING our economic systems, any moves to shift these businesses from outside evaluators doing good analysis to advise buyers into a Trojan Horse raiding operation whereby the rating agencies pretended to be the friend of the investors but was actually an ally and co-conspirator with crooks selling frauds!  This shift should have been outlawed by Congress.

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ΩΩThen, the SEC could prosecute Moody’s, for example, for conspiracy and double dealing!  Instead, the government went passive and allowed this to rage onwards.  This fraud is no different at all from three card monty games in Times Square: the dealer had an observer pretending to be  unconnected with the dealer.  The chump would join the game and the pretend observer would play the game with the co-conspiring dealer and together, they would rip off the chump.

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ΩΩSince this is very illegal in NYC, the City Council simply passed a law making this game illegal, the same can be done to stop these fraudulent rating agencies!  Duh!  A rating agency that has a nearly 100% failure rate is one that is a fraud.  Total collapse usually means fraud.  Someone at the top is lying or faking things.

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From October, 2008:  Money Matters: Synthetic CDOs Slit Many Banking Throats

It is a very windy, thunderstormy October night. The leaves are being stripped from the trees, flying wildly high into the clouds, whipped far from the gentle embrace of the Mother Trees. So we are going to talk about Synthetic CDOs and figure out not only why they are all losing 80-90% of their value but also looking at the people responsible for this mess and how much did they actually know several years ago. Hint: they knew perfectly well, what they were cooking up. They just thought that October storms would never hit, would it? Right.

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ΩΩSo all these fraudulent rating agencies should be…TERMINATED.  The presidents of these fake organizations…ARRESTED FOR FRAUD.  And the international banks that conspired with these rating frauds should be charged with…CONSPIRACY.  And all should be hammered with treason charges since they put our entire nation into severe peril.

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ΩΩAs a reminder, we must back Ron Paul’s efforts to pass HR 1207.  It continues to languish in committee.  One way to get things moving is to accuse the cosigners of this bill of double dealing since they are dragging their asses on Wall Street reforms.  Namely, we must demand how much money are these guys getting from Goldman Sachs?  Ron gets nothing, of course.  But the others are not clean at all.   Federal Reserve Transparency Act – Wikipedia, the free encyclopedia

The Federal Reserve Transparency Act of 2009 (H.R. 1207) is a bill introduced in the U.S. House of Representatives of the 111th United States Congressby Congressman Ron Paul (TX-14). It proposes a reformed audit of the Federal Reserve System (the “Fed”) before the end of 2010. The bill has 319 cosponsors, and has been referred to the Committee on Financial Services. Its Senate version is called the Federal Reserve Sunshine Act of 2009(S. 604), and it has 32 cosponsors. A related bill uses the same two names in reverse order. An amendment with similar provisions was added to the Federal Stability Improvement Act (H.R. 3996) by the House Committee on Financial Services in November, 2009.

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ΩΩWe must shake these guys up. They are no longer scared of the Tea Party now that it has been flooded with Palin-bots who have no idea, the organization started as the political push for passing this particular bill.  Like a tornado, this party has torn away from its real purpose and now dances across the prairies, flattening houses and flipping cows into the air while fixing absolutely nothing that is wrong, on the contrary, the new members of this destructive organization don’t want any real reforms at all.

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ΩΩAnd the original premise of the Tea Party was flawed since it was all about making the government smaller which meant, fewer, not more regulations of the financial system and other important parts of our economic system.  We should see clearly, after these Cowboy Rambling Years that reducing regulations, laws and letting the Wild West mentality run riot leads to total destruction!

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ΩΩAs I keep saying, the key to survival is to restrict access to the Cave of Wealth and Death, that is, post guards at the entrance and to not let everyone rush in and embrace the Goddess of Infinity.  Instead, people work tirelessly to gain access so they can do exactly that.  And they do this while yelling, ‘I will be rich, richer than Croesus!’ forgetting that Croesus’s riches led to  his destruction. (Chronology of Monetary History550 BC During the reign of Croesus the Lydians began to produce coins of pure metal instead of electrum. This is the world’s first bimetallic coinage.)

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ΩΩNow on to the GS news that is being vomited forth thanks to a newly-energized SEC staff: Goldman Sachs CDO Labeled ‘Shi**y Deal’ by Montag in E-Mail – Bloomberg.com

Thomas Montag, the former head of sales and trading in the Americas at Goldman Sachs Group Inc., called a set of mortgage-linked investments sold by his firm “one shi**y deal,” according to an excerpt from internal e-mails released by Senate lawmakers.

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The transaction was Timberwolf Ltd., a $1 billion collateralized debt obligation holding pieces of other CDOs, according to a statement from the Permanent Subcommittee on Investigations. The CDO also included optimistic side-bets on the performance of CDOs, derivatives in which the firm took the opposite pessimistic side in “many” cases, the panel said.

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ΩΩIt is rather illegal to privately say, ‘I am selling total sh*t’ and then turn around and assure the victim, ‘This is good as gold.’  Caveat emptor means ‘buyer beware’ but it also is the opposite: a buyer may be stuck with a deal but ONLY if the seller is honest!  So if the seller deliberately hides the truth by covering up problems (happens all the time in real estate!) then the buyer can go to the law and sue.  2,000 years ago, they could do this and today, they can do this.  And I am betting many a lawyer is sharpening their pencils to write up a good lawsuit concerning the sales of these sh*tty CDOs.

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ΩΩGoldman Sachs deserves to go bankrupt in the next 10 years as it is hammered by lawsuits.  And NO ONE should buy ANYTHING generated by these obvious and open crooks.  January, 2008:  Money Matters: Sorcerer’s Apprentices At Bank Societe Generale

ΩΩBack in 2008, various powerful but totally corrupt and utterly amoral banking presidents loved to accuse some lower level flunky for gigantic problems.  I called this the ‘sorcerer’s apprentice’ con game.  That is, every time the lower staff runs totally out of control thanks to the top guys removing all restrictions, laws and regulations, the bank would collapse under a mountain of bad debts and the president would yell, ‘I had NO IDEA what the staff was doing behind my back!’

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ΩΩWhich is a fraud, of course.  If the president of a bank didn’t know anything, then he was a fraud.  He was pretending to be the top officer but actually was getting drunk in the lounge with the passengers while the ship sailed into icebergs.  These clowns don’t have the dignity to commit suicide when revealed as chumps and frauds.  No, they merrily sail on after the taxpayers patch up various Titanic banks and they claim they were trying their best.

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ΩΩWell, they were trying their best…to defraud everyone!  This is why severe punishments must be administered.  No slaps on the wrist will stop massive, epic frauds.  A $10 million fine doesn’t stop a $500 billion fraud.  ALL profits from fraud must be confiscated.

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ΩΩ2008 was the epic year for crashes and I had numerous postings about this matter.  He is one story that is relevant to the Goldman Sachs scandal.  From my own blog, late January, 2008:  Money Matters: The Great Credit Unwind of ’08

The United States has led the world into the greatest credit bust in history, and yet, few people even know what has transpired. The US massive current account deficit (nearly $800 billion) has been recycling into US Treasuries and securities from foreign investors. Up to this point, American markets were an attractive place to put one’s savings. The dollar was strong, and the stock market had a proven record of profitability and transparency. But since President Bill Clinton repealed Glass-Steagall in 1999, the markets have been reconfigured according to an entirely new model, ““structured finance””. Glass-Steagall was the last of the Depression-era bulwarks against the merging of commercial and investment banks. As a result banking has changed from a culture of “protection” (of deposits) to “risk taking”, which is the securities business. Through “financial innovation” the investment banks created myriad structured debt instruments which they sold through their Enron-like “off balance” sheets operations (SIVs and Conduits) Now, trillions of dollars of these subprime and mortgage-backed bonds—many of which were rated triple A—are held by foreign banks, retirement funds, insurance companies, and hedge funds. They are steadily losing value with every rating’s downgrade. Here is a graph which illustrates how the scam works. (CLICK ON LINK TO SEE ENLARGED IMAGE)

ΩΩThat ‘new model for mortgage lending’ came from the webpage of one of the now-infamously defunct major mortgage underwriters.  Their new ‘system’ basically removed all oversight as to the quality of the mortgage and the true financial condition of the buyers of these mortgages.  The second layer of fraud was the sale of these suspect mortgages to the big investment bankers who then got the AAA ratings for these obvious frauds.  People are NOT basically honest.  If given an opportunity to cheat a system, they will.  This is why we have many laws, rules and regulations: they must exist in order to keep systems honest.

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EXCLUSIVE: Blankfein Says Trader ‘Fab’ is Immature, but Not a Crook – FOXBusiness.com

Goldman Sachs (GS: 152.1725, -5.3675, -3.41%) CEO Lloyd Blankfein is prepared to say that the young trader charged with securities fraud for failing to disclose alleged conflicts of interest when he sold a portfolio of mortgage bonds to investors was “immature” and “showed poor judgment,” but also that the company didn’t fire him because he did nothing illegal, FOX Business has learned… .

Some of the most colorful of those emails came from Tourre, who joked about selling the toxic bonds to “widows and orphans,” compared his job to “masturbation,” while he described himself as the “Fabulous Fab.”


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ΩΩHAHAHA.  The late baby boomer presidents and others at the top of organizations didn’t keep tabs on the wild activities of the Slacker generation brats who were unleashed to do their worst.  One thing we expect from bankers is…maturity and good judgement!  Not wild, childish tantrums!  But we don’t blame children for misbehaving, we blame the parents when the parents are directly responsible for controlling, teaching and taming their own brats!  In these investment banks, the brats ruled the roost and so long as they brought home the loot, the mommies and daddies at the top were perfectly happy.  No questions asked!

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ΩΩThis is how all criminal families operate: they unleash their spawn on the community and these kids tirelessly break into cars, houses, mug old ladies, rape, loot and vandalize everything. This is why slums are slums!  You can tell if you are in a slum when you see lots of destruction of property, bars on all the windows, etc.  I used to live in NYC slums.  I used to joke, you can tell which families are out of control simply because they never lock their doors or have bars on their windows!

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ΩΩSo it is on Wall Street: the con men running the biggest banking operations are the crooks so they don’t worry all too much about security, they want their brats running amok because this makes the lazy bums who run the family much richer, thanks to all the stolen loot the kiddies carry home!

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Goldman Sachs’s Tourre to ‘Categorically’ Deny SEC’s Claims – Bloomberg.com

Fabrice Tourre, the Goldman Sachs Group Inc. executive director sued by the Securities and Exchange Commission for fraud, will tell a Senate subcommittee that he will defend himself in court against the suit…. .

…The SEC said that in early 2007, as the U.S. housing market teetered, Goldman Sachs created and sold a CDO linked to subprime mortgages without disclosing to investors ACA Management LLC and IKB Deutsche Industriebank AG that hedge fund Paulson & Co. helped pick the underlying securities and bet against the vehicle, known as Abacus 2007-AC1.

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In its complaint, the SEC has alleged that Tourre misled ACA into thinking that Paulson planned to invest in the equity, or riskiest piece, of the deal instead of betting against it by buying credit protection.

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ΩΩThe SEC has poor Tourre by the balls.  But this has to travel up the spine of the Beast to Blankfein.  Blankfein gave this youth the blank check to do as he pleased in the name of Goldman Sachs.  He reaped the profits from this kid’s crimes.  This man refused to look into the matter while it was transpiring and asked no pertinent questions and meanwhile, was telling everyone, he was in charge of Goldman Sachs.  I never heard that Tourre was in charge.  Nor is Tourre being charged with lying to Goldman Sachs.

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ΩΩOf course, Blankfein has to feign being too stupid to know what was going on in the real estate world.  This is very troublesome because of course, he had to know, if I knew, he knew.  He could claim stupidity but then, investors in this stupid banking scam operation should sue him for fraud since he boasted about his understanding and business savvy abilities at every possible board meeting and shareholder presentation!  This was a lie or he was lying about his true activities which is fraud and he should be arrested, of course.

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ΩΩAnother brainiac who claimed he made money honestly is Mr. Buffett.  He made it all look so simple but he is just as corrupt as Blankfein and his crimes are identical: he bribes Congress to let him run amok in the financial world so he can be filthy rich while destroying everything in his path, just like a tornado.

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Nelson Flips On Regulatory Reform After Buffett Provision Removed

That said, the optics aren’t kind to the Nebraska Democrat. Earlier in the day, Senate negotiators agreed to remove a provision that Nelson had inserted last week, which would have exempted any existing derivatives contracts from being subjected to new capital requirements. That provision had been pushed by Buffett’s Berkshire Hathaway Inc., which has $63 billion in existing derivatives contracts and would have to set aside $8 billion to cover potential losses on those contracts if the legislation were to pass.

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ΩΩSupposedly one of the world’s richest bastards, this jerk can’t capitalize his own derivative deals???? HAHAHAHA.  Right!  Fake wealth!  So, this jerk holds $63 billion of the Derivatives Beast???? HAHAHA.  Kill them both!  Nelson, of course, wants to protect his owner, this corrupt and evil Buffett character.  If Mr. Billionaire Buffett can’t put aside $8 billion in savings, then arrest him for being fraud.  This jerk, like all the other creeps, wants a $0 capitalized system whereby they can make money out of thin air and not hold a penny against these borrowings.  Like Donald Trump, they are cartoon characters pretending to be rich via producing something when they are actually negative debt monsters destroying our economy.

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Alwaleed Holds Wallet With Buffett as Princely Riches Decline – Bloomberg.com

Alwaleed often refers to himself as the “Buffett of Arabia,” although the comparison to Warren Buffett, chairman of Berkshire Hathaway Inc., doesn’t hold up. Berkshire Hathaway’s Class A shares more than doubled in the same span of almost ten years, swelling Buffett’s stake to $48.7 billion.

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ΩΩI include this tidbit because the article claims, Mr. Alwaleed is too deep in debt to compare himself with the fabulously rich Buffett which supposedly has $48.9 billion in loot!  And this idiot in Omaha can’t put aside a mere $8 billion to capitalize his stupid Derivatives Beast stakes?  HAHAHA.  See how utterly fraudulent everyone is?

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£10bn profit for taxpayers after shares in bailed out banks surge | Politics | The Guardian

Alistair Darling tonight claimed his bailout of the banking sector had been justified after analysis by the Guardian showed a sizeable paper profit had opened up – once recently disclosed fees paid to the government are taken into account.

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RBS shares have jumped 75% in little more than two months and a £26bn combined loss on both stakes at the end of last year has now been reversed to a profit of £9.4bn. The Guardian has calculated that the profit on the 84% stake in RBS tonight stood at £7.4bn while the taxpayer’s 41% share in Lloyds was worth almost £2bn more than the Treasury paid for it.

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While the taxpayer had dipped into a small profit on its Lloyds stake eight months ago, it was only for a brief period because the “break even” price was higher before the additional fees, disclosed on the day of the budget.

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With the UK coming under pressure from the financial markets to take post-election action to bring down the national debt, analysts speculated that a new chancellor would be tempted into an early sale of a part of the government stake.

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“It may prove increasingly attractive for the new UK government to take advantage of the current frothy price to try to claw back part of its £45.8bn investment [in RBS] without loss,” said Ian Gordon, banks analyst at Exane BNP Paribas.

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ΩΩThe UK struggles with the same contradictions as the US: the bankers engorged themselves on the economy by dumping tons and tons and tons of debt onto everything and anything in sight and this overload of debt created the illusion of wealth as we had tons of money to spend on trivial things or wars and such and now the system crashed and had to be capitalized by the populace until the bankers could resume selling more debts and this is a vicious spiral.  Time is money!  The illusory ‘profits’ from this ‘sale’ won’t fix the debt monster at all: the money generated from any sales will simply go into the General Fund and won’t pay down the vast mountain of debt generated by the original bail out!

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ΩΩThat is, the true loss here is the looming mountain of debt held by the government.  It is not going away, it is getting worse.  And the bail out made it significantly worse and the sell back won’t fix this at all.  It just brings things back to ‘normal’.  With the dark shadow of increased future taxes to pay for higher interest rates on the mountain of debt generated by the bank rescue operation.  This future interest due will be at least as much if not more than double the original cost of bailing out the bankers.  This is why avoiding this situation in the first place is LIFE AND DEATH.

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17 Comments

Filed under .money matters, Politics

17 responses to “Clever Crooks Cheat Chumps

  1. charlottemom

    The GOP arm has captured the TeaPartyTM and is working this angle to “control the revolution” while the DEM arm seeking to prevent any revolution” appeases the masses by throws Goldman to a toothless Congress for show hearings.

    The whole thing is staged from both ends. The Reps and Dems have set up a false dialetic and in the end they hope it’ll amount to nothing…except more hearings and more Obama speeches and more legislation proposed and then blocked…..around and around we go.

    Lots of scolding so far into the proceedings on ethics and morals but NO DISCUSSION OF BROKEN LAWS AND PROSECUTIONS.

    But I think we are a lot closer to the edge than most think because the deception is becoming more and more obvious. The government is working harder and harder to keep all the plates in the air that politicians are discarding even the optics that they are “Working for the American People”TM.

    Government is clearly working to save itself. As does Goldman…now of course Goldman gamed the system. But done in collusion with our own government..which is still doing it. Not only is Goldman NOT the only player in the fraud….is it even the biggest? The gov’s trusted Goldman ally is now “taking one for the team” as it guards the gates to more fraud and corruption discovery.

    Hope not, because if Goldman/Government is the Fraud…then that would make us the Fools..their latest mark. Or as you put it so well — the crooks and the chumps, respectively

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    ELAINE: Correct, correct and even more…correct. Yes. Yes, again.

  2. MikeM

    CONgress is only stuck because it is filled to the brim with corruption.

    Damn, I wish I was the President for one single week. I would issue a number of executive orders, but the top of the list would be an order to SOCOM to terminate about a thousand globalists, most of whom are blood related.

    The blood relatives are of course Rothschilds, and I hope some of you Rothschilds see this and realize it’s getting hard to hide. Hard to hide personally, and hard to hide your activities. Just because Google doesn’t work well on your name (and other assumed names), doesn’t mean we don’t know who you are and what you’re up to.

    A famous line from “Apocalypse Now” expresses my thoughts perfectly: “Guess he must have hit the right four people.”

    What really needs ‘hitting’ are the MANY powerful trusts that families such as the Rothschilds and Rockefellers (and obscure descendents) have set up to hide thier wealth while excersizing the immense power and control that that wealth brings, while doing it pretty much in secret. For these psychopaths, it’s all about power and control anyway, not wealth. Wealth is only a tool.

    How insane are we to not make the choice between eliminating a thousand or so key people (and their trusts), and watching WW III kill hundreds of millions, just so those thousand or so can gain yet more control? Isn’t it obvious even to the slow folks that we no longer have a representative government, and WW III isn’t far off? Even better yet, how about WHY IS THAT?

    Unfortunately, this imaginary scenario couldn’t happen unless our current government was cast off. It will be eventually, it’ll be ugly, most of us will be dead from the process, and years later, on the other side of the disaster we still will not have learned…

    That’s my opinion, and I’m sticking with it.

    PS: Can we develop an easy DNA test to determine psychopathic tendancies? Can we tattoo such folks on thier forheads at an early age? They seem to somehow always make it to leadership positions at large corporations and governments, much to our detriment, and something needs to be done about it.

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    ELAINE: All humans are psychopaths. Ask any animal about this. We are all killers, too. Not only that, eliminating any families won’t fix a thing. When the Russian revolutionaries killed all the aristocrats, this didn’t bring happiness nor help. Nor did killing the French aristocrats fix France. Etc. See my point here? Why not just TAX the rich? A lot easier.

  3. Colin

    @MikeM
    “PS: Can we develop an easy DNA test to determine psychopathic tendancies?”

    We all ready have that test, and you don’t even need the DNA. It’s a simple psych-test called the ‘Right-Wing Authoritarianism Test’ (which confusingly can apply to either right or left). Specifically you want it’s second form the ‘Social Dominance Orientation Test’. (the first form finds the people who will collaborate with a dictatorship, the second form finds those who will be trying to start one)

    Actually you dont even need to admister the tests – once you’ve understood the principles behind them; listening to someone for five minutes is enough to work out where they stand. There’s a tentative link to certain physicological characteristics as well, i.c. Left-Handed people are statistically less authoritarian by all measures than Right-Handed people. (they don’t call it the left wing for nothing!) Reasons, as yet unknowen, at the moment it’s presumed that lefthandedness it caused by being exposed to high levels testosterone in the womb. It does make sense that peoples psychology would be profoundly altered by their hormones – after all what else do we have them for? This theory is popular because left-handedness has a strong postive correlation with higher levels of eczema, autism and autoimmune diseases (all of which are caused by too much testosterone). Presumably in the future you could test a politicans hormone levels and exclude them if their out of wack. More testing needs to be done.

    In the short term my recomendation is to only vote for left handed people with dandruff and Rheumatoid arthritis.

  4. payAttention

    ‘It is rather illegal to privately say, ‘I am selling total sh*t’ and then turn around and assure the victim, ‘This is good as gold.’ Caveat emptor means ‘buyer beware’ but it also is the opposite: a buyer may be stuck with a deal but ONLY if the seller is honest! ‘

    I told you right away that ‘caveat emptor’ did not apply at IBK because Goldturd was soliciting their business. I repeat, any solicitation has to be done in good faith. Perhaps you could bother to read a Prospectus for an offering and you will see that a different standard applies.

    The Tea Party was started during an exchange on CNBC with Rick Santelli, the only guy who has any professional integrity on that GE shill station. Of course he got the full court press since GE would be insolvent at anything but ZIRP. Santelli was going nuts because he was on the floor of the Chicago Merc and the bond buyers were screaming all around that the Benny Bucks were being printed and buying up any turd with a coupon. They were being forced very far to the right on the risk curve while buying Govt T bills. Which they knew and know will bankrupt them, against their will and better judgement. Just like the Greek bond buyers just ate a fork.

    Anyhow, you have generally been more on track the last couple of days.

  5. the fool on the hill

    People are NOT basically honest. If given an opportunity to cheat a system, they will. This is why we have many laws, rules and regulations: they must exist in order to keep systems honest.

    But (protests the fool) without honest people, who will enforce the laws, rules and regulations

    ?

    Interestingly, the Protocols of the Learned Elders of Zion contemplate that it is the corruption, selfishness and greed of the goy that will bring down their governments. The Zionists’ role is mainly to enable things and offer encouragement.

  6. the fool on the hill

    Oh, and the Protocols also contemplate that the typical goy reaction will be, instead dealing with political threats in an organized, rational and strategic fashion, rather to go on a bloodthirsty killing spree. This mentality plays right into the hands of the Zionists.

    If any hardcore Zionist bogeymen are reading some of these comments they are probably rubbing their hands with diabolical glee. “Mmmwwhahahaha! Everything is proceeding as I have foreseen”. *Cue imperial march*.

  7. emsnews

    The Protocols of Zion are FAKE. No Jewish person would write like that. It is TOO DUMB.

    See? As for Jews wanting chaos: are you nuts????? The last thing they want is chaos.

  8. Joe

    Actually….the Tea Party was started by the grassroot support for Ron Paul’s 2008 run. Some supporter raised a bazillion worthless notes in one day. On the Boston Tea Party anniversary.

  9. Joe

    Here’s what I don’t get about the Protocols. So there fake. Well, there exists such a document.

    When did this ‘fake’ come into existence? As i understand it has been around for awhile. Maybe put out in the interests of the Tsarist regime in Russia?

    Here’s the question. Whatever it’s origin’s, it does seem to have been somewhat prescient hasn’t it? How is that?

    Fake?

    Is thermite real?

  10. emsnews

    A document exists but it is fake.

    About Joe’s comment: you are correct. And I was at the actual demonstration before that one which we did in Manhattan on Wall Street and this was all about stopping the Fed, not taxes. The diversion of the force behind the Tea Party was deliberate and designed to drown out the Ron Paul forces.

  11. the fool on the hill

    The Protocols of Zion are FAKE. No Jewish person would write like that. It is TOO DUMB.

    See? As for Jews wanting chaos: are you nuts????? The last thing they want is chaos.

    The published translations are fake but many of the underlying concepts are quite real. Trust me on this. (Or not).

    Zionists think that an Apocalypse suits the goy just fine.

    Even in my own case, I sometimes find myself on the fence. For example, I have certain “gifts” and certain “problems”. In a sane world I would have been exalted for my gifts and gotten compassion for my problems. Instead I got ridicule and derision for my problems and resentment for my gifts. Why work hard and raise others up when one can just drag others down to get ahead? Of course, I didn’t grow up in the Zionist power structure because my father was a black sheep and he did not want me to be part of the “evil”. He shares a lot of characteristics with your father, as far as me never knowing what continent he is on and so forth. Also, I have not been able to purge myself of compassion (which, incidentally, Zionists see as a weakness), for people that are made to suffer for no justifiable reason.

  12. the fool on the hill

    And, for Elaine’s readers that think they can solve their problems by killing Jews, you are only serving to demonstrate and validate one of the underlying themes of Zionism: it is your own evil that will see to your demise.

  13. Joe

    So has this fake document existed since Tsarist times. Or is it a fake translation of a supposed Tsarist era piece which was actually written sometime since the creation of modern israel?

  14. ron_o

    I’m going to have to defend Buffett on his derivative “investment.” Berkshire bought a company called General Re back in the late 90s and it had $billions in derivatives. Berkshire never bought any themselves directly that I am aware of. They settled the existing contracts for over $400 million under no threat of pending doom. He just knew they were bad for the company. He wound up keeping the best ones, obviously ones he thought he understood and ones he thought were a no brainer.

    As a businessman he has a problem with putting up collateral. That would be collateral he can’t invest, and that of $8 billion would make his existing contracts worthless.

    Remember, he warned the world about them back in 2002-03. Very few listened to him. If he’s evil then everyone is evil in finance. IMHO, he has proven to be a good corporate citizen but not a perfect one by any means.

    I wish nearly all derivatives were made illegal and any that weren’t must be run through a clearing house. Companies shouldn’t be able to hide potential losses (debts) at all. Derivatives were really a financial invention to do just that. The problem is no one thought they were going to lose on those bets… I mean contracts.

  15. very nice blog!! keep up the good work!!
    PS: check my blog!!! :P

  16. MikeM

    I hate to say this kinda stuff, but in truth the best form of government is that provided by a genuinely benevolent dictator. If this country is ever going to get it’s act together, ONE PERSON needs to re-arrange things dramatically, with good will in mind, and it will be DESPITE our current gooberment.

    Yes, this leads to other problems. But I’m not going to start my own blog to detail my thoughts on the matter.

    That’s where I was coming from. Our coming change certainly won’t be constitutional, it may likely not even be done with general consent, especially with a malinformed population, but it WILL happen, it will be radical, I am certain. Of the direction it takes I am far less certain. This direction is what makes the difference, but the initiation must be EXECUTED, one way or another.

    You think it will be ‘easier’ to tax the rich? Looking at CONgress, I seriously doubt it, and I assure you I’m not alone in that assessment. It’s irrelevant anyway, because the REALITY of so-called modern day life dictates calculating odds, not pondering what may be best. Forget ideology, reality is about to slap our face with a 2×4. Sad, but true.

    In decades of experience of both watching CONgress, and doing spook type stuff in the navy, I assure you it’s far more likely that some rogue is going to take matters into his own hands, rather than CONgress ‘taxing the rich.’ The clock is tickin’ closer to midnight. I ponder how many SPECWAR people I once knew are ‘out there,’ guys who ‘got out’ due to boredom, after years of specialized and disciplined training. I do know they are out there, and I would speculate they’re every bit as pissed off as I am.

    I know much about getting jobs done, as do you. Most of our politicians have never had a real job, so they are clueless. They MUST be cast aside. There’s a whole lot of folks that KNOW this, and it has nothing to do with not wanting to pay taxes. We know we need schools, police, roads, etc… On that subject, some of your vast generalizations are really very irritating, albeit I understand their necessity in the brevity of blogging.

    Get ready for sea change. It is LIBRA. Being ready is a hell of a lot more important than thinking about what we might like to see happen against all odds. Protect yourself, no one else can, or will. Personally, being old, I will sit back and watch the spectacle in wonder, and fear.

    We have some serious pain comin’ our way, and I personally think it’ll look a lot like 1873, but in spades this time. Radical thinking is going to come front and center, fast, necessarily, by an irrational public that is just now realizing it is being misled on very many fronts. Hopefully civility will prevail and carry us, but using history as a guide, I freaking doubt it!

    ///////////////////

    So we’re ALL psychopaths? Maybe we SHOULD all vanish from the face of the earth. Perhaps we SHOULD encourage the destruction of us all. Eh? Let’s just press that red button! Wouldn’t the rest of the planet benefit? YES! One hundred million years IS DEFINATELY relatively insignificant. You know that.

    But immediately, will the AFL-CIO rally the common man to meaningful action? Nothing would surprise me anymore. I do still cling to hope, while being prepared for the worst.

    HAHAHAHHAAAAA The written word alone does not convey the spectrum of normal Homo Sapien communication methodology, so it takes a little extra effort on the keyboard sometimes.

    Please know, with no sarcasm here… CHEERS!

    (and death to the Rothschilds!) HAHAHAHAHAHAAAAA

  17. emsnews

    Going it alone is not the answer.

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