WTTW: Word to the Wise

Just a bit from a Seeking Alpha article, today.

The trend in high levels of insider selling and low levels of insider buying remain unchanged this week as executives continue to sell into the rally. Of course, they’re not the only smart money that is now selling into the rally. Institutions recently turned neutral on markets after have been bullish on equities for the last 6 months.

For the latest week insiders sold $841.9MM worth of stock while buying just $37.7MM. Notable sales include sales from Goldman Sachs executives:

A long list of executives followed, including the CEO. 

All I can say is get your estate ready for an interesting ride. The second dip is coming and Dubai may have  drawn it closer. Next year, at some point, the Fed will step into defend the dollar. At that point gold and the markets deteriorate. Gold may fall too fast to get out of the way.

A good bet, if you wish to hold gold is an ETF that bets gold will deteriorate. This is the ultimate hedge. keep the gold and win if it the price drops.  Of course, in the long run, gold will do fine, but that is a story about currency, not manic buying.

====


I made up the WTTW. 

Scam #2: Swine Flu

As Scam #1, the notion that I am responsible for something called global warming, change, or cooling, is unwinding, let us revisit Scam #2: Swine Flu.  I have noted previously the small incidence of the flu, a fraction of the amount of illness and deaths from the normal seasonal flu,  but even those cases are a blatant fraud, as it turns out.

Take a breath and consider:

1.  On April 20, the CDC announced the swine flu pandemic was here:  4 cases, no deaths.

2.  May: WHO redefines the word "pandemic" so we can have one.  Took out the idea of deaths.  See article below, Russia dismisses this pandemic.

3.  July: The CDC STOPS testing for swine flu and directs states to stop.  Why?  Because, they say, its here, so why bother?  Therefore, NO CASE OF SWINE FLU after July IS CONFIRMED.  NONE.  This is not science, nor is it moronic; this is a fraud.

A recent blog, here, showed how the swine flu incidence was low, but even this was even wrong as NONE of those cases I included in the analysis were confirmed. None of the cases were confirmed as having happened in spite of some vaccine.  Florida, while still testing, found 8% of the reported Swine Flu cases were not even the flu.

There is no data, as CBS learned when they recently tried to figure out what is going on in each state. VIDEO  Yes, a major media outlet was pissed off.  Here, lest you forget the swine flu fraud of 1976,  is the 1978 60 MINUTES


The data that was analyzed before testing stopped, showed of the cases reported the actual number of swine flu cases ran from 1% to 30%.  Usually, on the lower end. see VIDEO.

Now, follow the money, if you wonder why this fraud continues:

1.  Big Pharma - guaranteed payment with a no liability, per your Congress.

2.  CDC

3.  WHO

4.  Doctors/hospitals

5.  Governments - control and more taxes.    There is an alleged new strain in __, which also has no deadly effects, but never mind.  The WHO stepped in and demanded the government ban all social gatherings, which has been done.  This is a continuation of the trend to make everyone a victim who needs the state. If you think this is over-the-top, try reading some history. Try the Frankfurt School, Alinsky (whose organization employed Mrs. Clinton and Mr. Obama).

RUSSIA:

22:0711/06/2009
MULTIMEDIA

The Spread of the Swine flu Outbreak

MOSCOW, June 11 (RIA Novosti) - Russia's chief doctor said swine flu could be treated as normal seasonal influenza despite the WHO's classification of the outbreak as a global pandemic, but advised Russians to protect themselves with masks.

The World Health Organization (WHO) declared earlier on Thursday its first flu pandemic of the 21st century following an emergency meeting. The A/H1N1 virus has been confirmed in 74 countries.
The UN health body's chief Margaret Chan announced that the WHO decided to raise the pandemic alert level to the maximum of 6.

"The world is moving into the early days of its first influenza pandemic in the 21st century," Chan told reporters.

"The virus is now unstoppable," she said.

Gennady Onishchenko dismissed the swine flu pandemic as a real threat and said most patients could be treated at home. He urged Russians to follow regular hygiene routines and to wear flu-protection masks.

"It is not complicated, but it is effective - put on a mask," the chief doctor said in an interview with Vesti 24 television on Thursday. "Nobody sees this as a supernatural situation, scandalous behavior. It is a normal rule, which protects against the pandemic."

A Russian government official earlier told RIA Novosti that Russia is not overly concerned with the new pandemic.

"There is no reason for concern. The situation in Russia is under control," he said adding that only three swine flu cases had been registered so far in the country and all patients had recovered....

The Global Warming Fraud, if you missed it

The Telegram's account of the conspiracy of global warming "scientists."  In any other science, these people would be collecting unemployment.

James Delingpole

James Delingpole is a writer, journalist and broadcaster who is right about everything. He is the author of numerous fantastically entertaining books including Welcome To Obamaland: I've Seen Your Future And It Doesn't Work, How To Be Right, and the Coward series of WWII adventure novels. His website is www.jamesdelingpole.com

Climategate: the final nail in the coffin of 'Anthropogenic Global Warming'?

By James Delingpole Politics Last updated: November 20th, 2009
562 Comments Comment on this article

If you own any shares in alternative energy companies I should start dumping them NOW. The conspiracy behind the Anthropogenic Global Warming myth (aka AGW; aka ManBearPig) has been suddenly, brutally and quite deliciously exposed after a hacker broke into the computers at the University of East Anglia’s Climate Research Unit (aka Hadley CRU) and released 61 megabites of confidential files onto the internet. (Hat tip: Watts Up With That)

When you read some of those files – including 1079 emails and 72 documents – you realise just why the boffins at Hadley CRU might have preferred to keep them confidential. As Andrew Bolt puts it, this scandal could well be “the greatest in modern science”. These alleged emails – supposedly exchanged by some of the most prominent scientists pushing AGW theory – suggest:

Conspiracy, collusion in exaggerating warming data, possibly illegal destruction of embarrassing information, organised resistance to disclosure, manipulation of data, private admissions of flaws in their public claims and much more.

One of the alleged emails has a gentle gloat over the death in 2004 of John L Daly (one of the first climate change sceptics, founder of the Still Waiting For Greenhouse site), commenting:
“In an odd way this is cheering news.”

But perhaps the most damaging revelations  – the scientific equivalent of the Telegraph’s MPs’ expenses scandal – are those concerning the way Warmist scientists may variously have manipulated or suppressed evidence in order to support their cause.
Here are a few tasters. (So far, we can only refer to them as alleged emails because – though Hadley CRU’s director Phil Jones has confirmed the break-in to Ian Wishart at the Briefing Room – he has yet to fess up to any specific contents.) But if genuine, they suggest dubious practices such as:

Manipulation of evidence:

I’ve just completed Mike’s Nature trick of adding in the real temps to each series for the last 20 years (ie from 1981 onwards) amd from 1961 for Keith’s to hide the decline.

Private doubts about whether the world really is heating up:

The fact is that we can’t account for the lack of warming at the moment and it is a travesty that we can’t. The CERES data published in the August BAMS 09 supplement on 2008 shows there should be even more warming: but the data are surely wrong. Our observing system is inadequate.

Suppression of evidence:

Can you delete any emails you may have had with Keith re AR4?
Keith will do likewise. He’s not in at the moment – minor family crisis.
Can you also email Gene and get him to do the same? I don’t have his new email address.
We will be getting Caspar to do likewise.

Fantasies of violence against prominent Climate Sceptic scientists:

Next time I see Pat Michaels at a scientific meeting, I’ll be tempted to beat
the crap out of him. Very tempted.

Attempts to disguise the inconvenient truth of the Medieval Warm Period (MWP):
……Phil and I have recently submitted a paper using about a dozen NH records that fit this category, and many of which are available nearly 2K back–I think that trying to adopt a timeframe of 2K, rather than the usual 1K, addresses a good earlier point that Peck made w/ regard to the memo, that it would be nice to try to “contain” the putative “MWP”, even if we don’t yet have a hemispheric mean reconstruction available that far back….

And, perhaps most reprehensibly, a long series of communications discussing how best to squeeze dissenting scientists out of the peer review process. How, in other words, to create a scientific climate in which anyone who disagrees with AGW can be written off as a crank, whose views do not have a scrap of authority.

“This was the danger of always criticising the skeptics for not publishing in the “peer-reviewed literature”. Obviously, they found a solution to that–take over a journal! So what do we do about this? I think we have to stop considering “Climate Research” as a legitimate peer-reviewed journal. Perhaps we should encourage our colleagues in the climate research community to no longer submit to, or cite papers in, this journal. We would also need to consider what we tell or request of our more reasonable colleagues who currently sit on the editorial board…What do others think?”

“I will be emailing the journal to tell them I’m having nothing more to do with it until they rid themselves of this troublesome editor.”“It results from this journal having a number of editors. The responsible one for this is a well-known skeptic in NZ. He has let a few papers through by Michaels and Gray in the past. I’ve had words with Hans von Storch about this, but got nowhere. Another thing to discuss in Nice !”

Hadley CRU has form in this regard. In September – I wrote the story up here as “How the global warming industry is based on a massive lie” – Hadley CRU’s researchers were exposed as having “cherry-picked” data in order to support their untrue claim that global temperatures had risen higher at the end of the 20th century than at any time in the last millenium. Hadley CRU was also the organisation which – in contravention of all acceptable behaviour in the international scientific community – spent years withholding data from researchers it deemed unhelpful to its cause. This matters because Hadley CRU, established in 1990 by the Met Office, is a government-funded body which is supposed to be a model of rectitude. Its HadCrut record is one of the four official sources of global temperature data used by the IPCC.
I asked in my title whether this will be the final nail in the coffin of Anthropenic Global Warming. This was wishful thinking, of course. In the run up to Copenhagen, we will see more and more hysterical (and grotesquely exaggerated) stories such as this in the Mainstream Media. And we will see ever-more-virulent campaigns conducted by eco-fascist activists, such as this risible new advertising campaign by Plane Stupid showing CGI polar bears falling from the sky and exploding because kind of, like, man, that’s sort of what happens whenever you take another trip on an aeroplane.

The world is currently cooling; electorates are increasingly reluctant to support eco-policies leading to more oppressive regulation, higher taxes and higher utility bills; the tide is turning against Al Gore’s Anthropogenic Global Warming theory. The so-called “sceptical” view is now also the majority view.

Unfortunately, we’ve a long, long way to go before the public mood (and scientific truth) is reflected by our policy makers. There are too many vested interests in AGW, with far too much to lose either in terms of reputation or money, for this to end without a bitter fight.

But if the Hadley CRU scandal is true,it’s a blow to the AGW lobby’s credibility which is never likely to recover.

Monday, Monday

Morning.

While I am more of a mind to worry about me and mine, as is what happens when the community dissolves, I can see a shimmer of a change.

1. Obama's approval rating is only 47%, his lowest since taking office when he was at 65%.  While his approval rating has dropped 18%, his disapproval rating has climbed from 30% to 52% in only 10 months. 

2. Speaker of the House Nancy Pelosi's approval rating in her own state of California is only 34%. 

3. Senator Harry Reid is behind in his re-election campaign in NV by 10% ("Sue Lowden beating Reid by 10%, 50% to 40%. Lowden is chairwoman of the Nevada Republican Party and the preferred candidate of the Republican party establishment.  GOP hopeful Danny Tarkanian beats Reid by seven points, 50% to 43%"). 

4. In the race for California's next governor in 2010, Republican Meg Whitman and Democrat Jerry Brown are tied at 41% each. 

5. After Pelosi's bill passed the House, the public was against the bill 54% v. 42%.  Even CA comes in at 51%, down 4% since last week.

 

So, while trying to prepare for either deflation or inflation (Greg says the government won't permit deflation),  a way to vanish before a new facism (Hilary says in America we tax everyuting that moves),  or decide upon a new homeland, there does seem a small hope.

Of course, the malfactors are taken care of, why defy those who elect you, and the new fascism will take root like a foreign weed, which is is, there is still a chance that the pendulum swing will be cleansing.  In the meantime, get out of your 401k and don't depend on the USD.

Central bank level gold fraud - OMG

Thought I would send this along.  It is more from Nadler. I won't find a cute picture.  This is too serious. Click on the headline for the article.

Below is an account of a massive counterfeit that has been discovered. Organized sale of tungsten bars coated in gold. No one can say, now, how much gold has been stolen. 

The bust cometh, and it will be spectacular. The stories told in the press will be peculiar, since not told objectively. The headlines might be a comedy, with phony reports of foreign subterfuge, when the perpetrators are home grown.

Further, there is a plan extant, he says he has been told, that China intends to ride up the price of gold, while preventing any major blow offs, as is normal and as I noted earlier, and keep pounding the price up.  This explains the inexplicable rise in gold.  If all this is true, his earlier comments that I relayed today have been trumped.

The Chinese know that we will not raise our interest rates to protect our dollar because of the economic mess we are in. Thus, they will take the opportunity to knock it down more.  Our leaders will commit hari kari, but out of ignorance.  Maybe it is for the best that this system dissolves.

China, if this is true, is engaged in economic terrorism. Nothing less. 

The plan is to destroy the U.S. dollar and it looks like a good plan.  The only was to stop it is to suddenly raise interest rates or for other countries to start buying dollars.

A possible scenario in the near term is that the counterfeit crimes will be revealed to the media, a serious revelation. You don't know if you should buy more gold or sell in such a period. I suspect a serious sell off, but this is only a gut reaction.  These crimes may actually result in the protection of the U.S. Dollar.

If this stuff is all true, then forget about big moves and buy metals or canned hams. I sure wish I could find rhodium.

Nadler: Some evidence of a global heist

...In October, the Hong Kong bankers discovered some gold bars shipped from the United States were actually tungsten with gold plating. This is the exact same Modus Operandi as the silver clad zinc dimes from 45 years ago. History repeats itself. The parallels to mortgage bond fraud with either subprime borrowers or multiple property titles used in bond securitization is easy to spot. A consistent theme runs through the American management of finance and dissemination of fraudulent assets on a global basis. Tungsten gold bars is a feat difficult to surpass. Credit must be given for not leaving any potential for fraud untapped. Refer to insider flash trading, naked shorting of bank stocks, commodity trading on behalf of the USGovt, and much more. No disrespect is intended for the trillion$ counterfeits of superstar grade. Refer defense appropriations, USTreasury Bond sales beyond issuance, and missing Fannie Mae funds. These are legacy crimes.

The initial discovery was something like four gold bars, which the Hong Kong bankers drilled invasively to test the contents. Reminds me of drilling the earth and measuring how many grams of gold per tonne. The HK bankers hoped to have 99% gold yield in their drill program for the resident bars. They found something like 1% instead and 99% tungsten. By the way, tungsten sells for less than $70 per ton, which makes its swaps for gold to be 60x more profitable than silver bar swaps. Another handy usage for the Gold/Silver ratio in calculations. The hunt was on. Now not a single assayer on the planet is available, as all are tied up. They have been commissioned to test the gold bars shipped from the United States of Fraudulent Banker America in their own bullion vaults. They use basic methods of four drill holes with direct assay of shavings, but also less invasive methods like electro-magnetic waves to examine the metal lattice structure. When highest level methods are needed, they turn to mass spectrometry. NOW ALMOST NO GOLD BARS WILL LEAVE THE LONDON OR NEW YORK METALS EXCHANGES WITHOUT SOME AUTHENTICATION, AS DISTRUST IS WIDESPREAD.

The global bankers must deal with toxic bonds and phony gold bars. Talk circulates that the entire contents of Fort Knox might have swapped a decade ago. Evidence is being accumulated and compiled. The assayers have also been commissioned to assist in authentication of gold bar delivery the world over from the US exchanges. Current estimates among the gold trader community run well past a few hundred thousand 'salted' gold bars, maybe over a million. So the introduction to sophisticated Wall Street methods of currency management during the Decade of Prosperity had a side game running simultaneously. In an age where the lines between patriotism and treason are blurred, this tungsten episode brings new meaning to the word HEIST.

BREAKDOWN AT GOLD EXCHANGES

The bust cometh, and it will be spectacular. The stories told in the press will be peculiar, since not told objectively. The headlines might be a comedy, with phony reports of foreign subterfuge, when the perpetrators are home grown. The focal point for attacks is actually London at their metals exchange. The early October events included numerous offers by exchange officials to settle gold contract deliveries in cash with a 25% extra vig bonus. Much gold was drained from London on demanded delivery, thanks to a small army of lawyers, a small blizzard of contracts, and a few key judges at the courts. They were all Asians, the majority Chinese. Gold was taken, thus enforcing futures contracts, which happen to be binding contracts. The pressure at the end of November will be worse to make good on gold contract deliveries. Recall the stories back in April for a Deutsche Bank rescue by the Euro Central Bank with a very large (over one million oz gold position) provision made. DBank was in trouble. The pressures are mounting every couple months. Next March will be a climax of the breakdown, or else June.

Breakdowns come from extreme pressures. Each delivery month event includes more gold removed from the London exchange, more gold demanded from it, and more movement toward a breakdown. So the next events have even more pressure, with less gold supply and continued relentless demand. Recall also that the exchange, along with the COMEX in the Untied States, exempt certain parties from maintaining 80% collateral when they short gold & silver with paper contracts. Thus the name suppression, or better yet corruption. They are being caught in their naked shorting game. The December 1st events surrounding settlement delivery demands will be more contentious and stressful than October 1st. In sequential manner, the March event will be even more pressure packed, with precious little physical gold in store and more targeted Chinese delivery demanded. The June event will be even more pressure packed still, a backup date for a potential breakdown if it does not occur in March.

The common denominator for the parties demanding gold delivery in London is simple: they are all Asians, all, as in all, and the great majority are Chinese. One can safely conclude that the US and British banks will be broken with the nexus being their gold management, which underpins the USDollar. Other pressure is sure to mount. Not the kind of pressure you might imagine. Pressure is mounting for senior bank executives and politicians to start revealing the identities, deeds, locations, and dates of the gold tungsten swap, the mortgage bond firehose, and other pervasive frauds protected by the USGovt and British Govt.

Bad idea: if you see a monster, close your eyes

Below is an excerpt from John Nadler of Kitco.com, a daily site for me. He is the boss, there; if I had $10,000 I would have been in a rhodium pool there, months ago.  That is where to be.

In turn, Nadler quotes Minyanville's Harrison (you have to see the bull and bear cartoons) whose knowledge and perspective is immediately apparent, unique in the world of car salesmen, see below.

The Nadler article, by the way, was a litany of all the fundamentals of gold, today, which are down except the tulip buyers don't care.  Much has been made of India's purchase of 200 tonnes of gold, but no one seems to absorb the fact that India's purchase, in general, is down 67%.  In this world, everything is a con and the media repeats it because they are substantively stupid.

Gold and silver are places to have been and places to go, but right now the prices don't reflect anything other than fear,  The fear won't go away, but, as with me, it is likely premature. As Harrison says, buy fire insurance just before the house burns. Next year, the FED will, some day, jump in to raise rates, in order to avoid deflation. At this point, the game is afoot. Watch the tea leaves, here. The action will be sudden, but there will be "meetings" and discussion to mull over.

At the point of defending the dollar, gold and the markets will, literally, crash, as most fundamentalist would say. Kitco says it will not be a gradual decline, but a crash as tulip buyers of all ilk jump ship at the same time. The are talking, for example, a $700 price for gold.  Stock folks see a crash down to March levels. Even Mr. Obama, who expressed a lack of concern for the markets when he was running, now worries about a "double dip" recession (if only that were the limit of all.)  Perhaps, he is slowly becoming aware of how our nation works.

The double dip would be a good time to buy a sound security and, for my part, bags of silver coins. Me, I am buying things that will go up when there is blood in the street - better early. In the meantime, you probably want to be careful of any securities investment, especially as currency talking heads write about the dollar moving to a two year rally - bad for gold and stocks. Of course, if the FED screws up and we go into deflation, that is another story. (I just read Japan announced it is in a deflation, today.  Have to check on this. )

These are too interesting times.

...We close today, with a lengthy but worthwhile read from Minyanville's Todd Harrison (he a regular on Marketwatch). Todd offers a mix of pondering where we go next, of wishful thinking that is well-intentioned, and of stark findings the underscore current conditions. Add another opinion to the growing mountain of same:

"Albert Einstein once said that the definition of insanity was doing the same thing over and over again and expecting different results. Through that lens, the current course of fiscal and monetary policy is absolutely insane. One would hope we've learned from the past as we prepare for the future but there's little evidence we have. Consistent with previous patterns of government intervention, policymakers -- many of whom never saw the cumulative imbalances building -- have overcompensated with reactive response and created the conditional elements of the next phase of crisis.

According to Scott Reamer of New York based hedge fund Vicis Capital, global central banks and government agencies have thrown upwards of $30 trillion dollars at the markets through direct lending and indirect backstops, with roughly 65% of that coming from stateside sources. That begs the natural question of whether the needle is now pointing towards hyperinflation.

"Not necessarily," says Reamer, "If they were creating currency , that would be the most probable path and I would own any physical asset I could get my hands on. But since they're creating credit , it's an entirely different analysis with regard to how other countries will respond." That jibes with my view that we're sitting at a critical crossroads, one that will come to define the socioeconomic state of the world; the resulting dynamic may indeed be binary.

The first scenario is the continued socialization of markets, bearded nationalization of troubled institutions and inflation through dollar devaluation, punishing savers who've preserved capital. By administering drugs that mask the symptoms rather than medicine that cures the debt disease, the crisis could evolve from the percolating societal acrimony to social unrest and quite possibly, geopolitical conflict.

The other path is the destruction of debt that paves a path towards true recovery through an eventual outside-in globalization. This dictates a higher dollar and lower asset classes in the intermediate-term but creates a solid infrastructure for economic expansion thereafter. It would be a bitter pill for many to swallow but most medicine that works typically is.

The banking system, stymied with credit dependency, is not operating normally. Hidden behind a litany of bailouts, stimulus, conduits, mortgage freezes, foreclosure programs, working groups and government sponsored investment efforts are politicians attempting to engineer a business cycle that long ago lost its way. Alan Greenspan was the chief architect of this grand experiment, trying anything and everything to juice risk appetites -- including his infamous endorsement of adjustable rate mortgages -- before whispering "recession" over his shoulder as he rode into the sunset. He then handed the economic reigns to Ben Bernanke, a gentleman who once opined he would "drop money out of a helicopter" if necessary to induce inflation.

Deflation in a fractional reserve banking system means policymakers have, for all intents and purposes, lost control of the economy. It would also impact the top-tier of the societal spectrum tied to financial assets, which would be problematic for politicians and the constituencies that bankroll them. Election aspirations, however, may be the least of the concerns; this economic maelstrom is bigger than any particular political agenda.

Policymakers understand the enormous stakes given our derivative-laced finance-based economy. They've postured, positioned and proffered assurances, pulling out all the stops in an attempt to flush the system with liquidity despite the clear and present danger of a total system unwind, with currency markets possibly providing the release value. As the state of our economic union steadily deteriorated the last eight years--a dynamic masked by the lower dollar and skewed by the spending habits of a slimming margin of society--the greenback was intentionally devalued with hopes that a legitimate economic recovery would replace the debt-induced largesse that dominated this decade.

As the world reserve currency lost 38% since 2002, foreign holders of dollar-denominated assets have grown increasingly frustrated with the status quo. Liu Mingkang, chairman of the China Banking Regulatory Commission, and Don Tsang, Chief Executive of Hong Kong, are among the latest leaders to voice displeasure, warning of "unavoidable risks" and "the next global crisis," respectively. Shortly before the credit mess arrived in September 2008, we warned it would manifest as a cancer or a car crash. The government responded by buying the cancer and selling the car crash, staving off a systemic collapse by inhaling the disease in its entirety. It worked, but it came at a profound cost.  

Asset classes continue to trade as a monolithic monster on the other side of the dollar. We call this dynamic "asset class deflation vs. dollar devaluation" in Minyanville and while both sides of the equation can decline, they would be hard pressed to rally in sync. That's important to remember, particularly as the carry trade becomes part of the mainstream lexicon.

The favored scenario of those pulling the strings is akin to a bovine relay race. The 2009 government sponsored euphoria enabled corporate America to roll mountains of debt, potentially buying itself a few more years. If the plan plays through, those same corporations will transfer the risk (through issuance) to an unsuspecting public before the next wave of crisis arrives. Rinse and repeat again and again, consistent with the definition of insanity

This progression is predicated on the rest of the world cooperating, presumably because they're unable to extricate themselves from the interwoven financial machination. The other alternatives are isolationism and protectionism, which could conceivably separate world commerce into standalone regions as nations attempt to protect their interests at all costs. While the path of deflation and debt destruction would cause paper wealth to evaporate, it would forge a path towards a prosperous future. Rich nations would pour real money -- as opposed to cheap debt -- into developing economies as a redistribution mechanism of wealth and the resulting global community would be more profitable, and dare I say safer, for generations to come.

It's not too late to reverse the curse of the lost cause of capitalism. If our policymakers make proactive decisions, demonstrate humility and take steps to rebuild a stable foundation for the future, we could avoid waking up one day to find that our policy has been altogether outsourced to foreign central banks."

A page from the NYU Professor's book, Todd. You have warned. Alas, the deaf ears are abundant, and the addiction to bubbles is hard to break. Hardly anyone listened back in 2006, either. Who cares about real-world conditions, and about eventual fallout, when prices are going up? Why, it's the only thing that matters! Aha.

Until tomorrow - keep the umbrella handy.

We didn't cause the swine flu

It seems you can't embed in emails, so click here for the highlight of your day, seriously.

Below is an update on the swine flu. Putting aside the complete failure of the government to meet its own goals regarding vaccines, welcome to post office medicine,  and putting aside the lack of an explanation how people died (did the flu put very sick people over the edge or kill healthy people outright) and putting aside the likely inflation of numbers, and putting aside any comment about how many of the infected had a vaccine, below is a break down by the CDC of what is going on.

Bottom line, using the goverment's numbers:    3,900/22,000,000 = .000177.   Not a very high death rate, is it?

Now, before getting a shot (the aerosol seems to be free of mercury,) consider some vaccine contains mercury, perhaps the deadliest poison. Your government approved mercury laden vaccine for six months, after which it will be deadly again.

As serious background:  60 Minutes expose of 1976 hysteria. By 1978, 4,000,000 lawsuits based on dangerous vaccine. It is a joke to watch the propaganda, but take that awareness and look at today's hysteria. To quote 60 Minutes:  "The so called deadly flu..."  Also, note, only four "swine flu" cases were the basis of the panic, they came from Fort Lewis. (Other reported - not confirmed) Don't dismiss conspiracy theories.

FACTBOX: U.S. estimates 22 million had swine flu, 3,900 dead

Mon Nov 16, 2009 7:53pm EST

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(Reuters) - New estimates suggest the pandemic of H1N1 flu is far worse than an average influenza season, with at least 22 million infections and 3,900 deaths, according to the U.S. Centers for Disease Control and Prevention.

The new estimates are extrapolations based on detailed data for April-October from 10 states and do not reflect a worsening of the pandemic, the CDC stressed. Following are the figures released by the agency, with the median number of cases followed by the full potential range:

ESTIMATED CASES BY AGE

* 0-17 years - 8 million estimated cases, with a range of 5 million to 13 million

* 18-64 years - 12 million estimated cases, range 7 million to 18 million

* 65 and older - 2 million estimated cases, range 1 million to 3 million

* Total cases - 22 million, range 14 million to 34 million

ESTIMATED HOSPITALIZATIONS

* 0-17 years - 36,000 hospitalizations, with an estimated range from 23,000 to 57,000

* 18-64 years - 53,000 hospitalizations, range 34,000 to 83,000

* 65 and older - 9,000 hospitalizations, range 6,000 to 14,000.

* Total hospitalizations - 98,000, range 63,000 to 153,000

ESTIMATED DEATHS

* 0-17 years - 540 deaths with a potential range of 300 to 800.

* 18-64 years - 2,920 deaths, range 1,900 to 4,600

* 65 years and older - 440 deaths, range 300 to 700

* Total deaths - 3,900 deaths, range 2,500 to 6,100. Source: CDC here

Obama and the new world government

Promulgate this

There is nothing more important in your life or that of your family than to watch this and send it along. Even Tom can be right, sometimes:




As I don't seem to do will with this embed logic, which seems too easy to do poorly,  here is the url:

 http://www.youtube.com/watch?v=PMe5dOgbu40


If the Copenhagen treaty is signed, there is still a legislative review according to our Constitution, like with the League of Nations idiocy of Wilson, but I hold no dream that the Congress will act rationally.  For that matter, the way things are going, they may not even bother with the Constitution, at all. After all, no one seems to care, including Mr. Chaney,  that Mr. Obama was a dual citizen and not authorized to be president.

It is nice Lord Moncton thanks us in the past tense for being the beacon of liberty.

Elliot is waving above a head and two shoulders

First, I turned off a button in the blog home that allowed anyone to comment, after another stupid sales pitch came in.  My error having it on.  Blog members can still write in, but they don't
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The Confused Man - Arianne Lequay

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Below is an excerpt from the Elliot Wave web site.  Mr. Prechter, their guru, has a new book out, you may want to read. Its name is something like You, Too, Can Avoid Death and Destruction.  That's not the name, but you will find it with that thought in mind.


There is another book out I want to read about the death of the dollar. That may be the name. Just out, look for it, as it is written for us simple folk and offers simple folk steps, something I have been trying to work out in these pages. 


I listened to the author as I dozed the other night and he didn't hedge - it is coming and have your affairs in order.  Prechter leans to the deflation prognosis.  So, something is going to happen. If it is deflation, cash is king; if it is hyper inflation, cash is crap. Or, its deflation then inflation, which, I suppose, means buy metals after the crash.


Prechter says the false fun is over - stocks, commodities. We are in the "fifth wave" and passed the top parameter. When the collapse comes, sooner than later, the market will suffer a straight collapse, no bumps for an elegant withdrawal, if you are in stocks (401k people, think about this - do not let inertia take you down). Time to buy TIPS.


Other current Elliot Wave people read graphs differently: stocks on the way up!  Everyone has line graphs and several ties.


Mr. Prechter says the USD is in for a good two year rally. This makes sense as it has been butchered by the US. So, the dollar will come back even as we head into inflation.  We need to think about inflation while the dollar comes back; about stocks going back to early 2009 levels; or, is it a booming market until it stops. A simple idea is buy TIPS, that way you stay even. 


The Prechter/Elliot view corresponds, by the way, to a collapse in metals and the market, based upon non-Elliot thinking that goes like this: When the Fed decides to put on the brakes, as it says it will do according to Keynes, amen, by raising interest rates and taking back loans. 


At that point, or earlier if you are part of the oligarchy, the rush to gold will end and the drop in commodity prices will accelerate as carry trade geniuses realize they have to cover themselves as they jump from the window.  There will no longer be a fear of the dollar; it will be replaced by a fear of being stuck in gold. (Me, I say stay in fear of the dollar, even if it comes back.)


It may seem contradictory that I recently picked up silver coins. It is a bit, but I am paying the premium for a safe harbor.  If I am wrong and all is well, fine, I paid too much for a poor collection.  If I am right, I am much safer than a few months ago. I worry about this and I don't have children, so consider worry as a good thing.

A history from the Elliot Wave site, to show how smart they are:

February 23, 2009 Short Term Update:

"If one is aggressively bearish the stock market, having a planned out exit strategy now is not only prudent, but necessary in light of some of the sentiment readings we see."

Namely, a 3% reading in the Daily Sentiment Index, the lowest level in the 22-year history of weekly figures.

February 23 Elliott Wave Theorist:

"Ideally, the S&P should continue down into the 600's. When it's finds a bottom and rallies, it will be sharp and scary for anyone who is short. I would rather be early than later."

February 27 Short Term Update:

"The turn will come on or near March 10, 2009. Anywhere in this period may mark a turn, which will obviously be a market low."

The S&P bottomed two weeks later at 666.79 on March 9.

April 2009 Elliott Wave Theorist:

The rally "could carry the Dow as high as 10,000. Regardless of its extent, it should regenerate substantial feelings of optimism... the government will be taking credit for successfully bailing out the economy, and investors will be convinced that the bear market is behind us. Be prepared for this environment."

Flash ahead to today: The November 6, 2009 Short Term Update picks up where the April Theorist left off and presents the following close-up of the S&P SPDR Trust versus the 10-day Daily Sentiment Index.

Oh, the point of the graph is see what Goerge Costanza is doing and do the opposite. George is now confident. He watches ABC news. 

If you are not market fan, you may think a positive sentiment is a good thing; but, you learn - do the opposite. They keep this indicator just to warn you of a coming turn. Note sentiment is inverse to the immediate future.  The "aggressively bearish" comment means:  if you have been betting on the downside, time to stop.

Dodd: Comrade Dufus Strikes Again

I am busy and hadn't expected to write. I am also of the mind that reporting on the insanity is no longer of interest or use. I am insanity weary. These days, I think of my exit plan.

Nonetheless, here is some more money, regulation, and deterioration of our small businesses.  Thanks to Senator Doddhorn.

Dodd offers 'emergency' bill on paid leave for flu 

By Holly Rosenkrantz | Bloomberg News

Sen. Christopher J. Dodd, D-Conn., introduced "emergency" legislation requiring companies to pay employees who miss work because of the swine or seasonal flus.

"If paid sick leave had been a reality when this pandemic began, we would be in better shape," Dodd, a member of the Senate Health, Education, Labor and Pensions Committee, said at a hearing Tuesday. "This isn't just a workers' rights issue, it's a public-health emergency."

Democrats in Congress have already introduced legislation that would mandate paid leave for illnesses generally, though lawmakers haven't acted on it as they concentrate on an overhaul of the health-care system. Some Republicans and business groups said that requiring paid sick leave may force companies to cut other benefits or fire employees.

"At a time when employers are facing unprecedented challenges, imposing a costly paid leave mandate on employers could easily result in additional job loss or cuts in other employee benefits," Elissa O'Brien, testifying on behalf of the of the Society for Human Resource Management, told the Senate panel at the hearing. "We caution against rushing to impose new mandates that will do more harm than good."

About half of private-sector workers, and three-fourths of low-wage American workers, such as school bus drivers and food- service employees, don't receive paid sick leave, Dodd said. About 80,000 school cafeteria workers aren't paid if they stay home when they're sick, and they serve about 10 million schoolchildren each day, according to Dodd.

The swine flu, or H1N1 virus, has reached 48 states, and infected as many as 5.7 million Americans, according to the U.S. Centers for Disease Control and Prevention. A total of 672 Americans have died, including at least 129 children, according to a statement from Dodd....

Oh, in case you think it is a great idea that a marginal business will be forced to offer paid flu leave, remember, businesses don't pay taxes, they pass them along. This truism is lost on our minority of morons, but they seem to vote along party lines.

Eventually, as inflation heats up, money vanishes, taxes increase along with regulation, the employees can have a nice long vacation on unemployment.  One this starts to happen and the tax base shrinks, I will send you a postcard from somewhere far away.

Dollar slides big time

Just a brief observation, having blown up a major portion of a serious piece on the commerce clause.

Kitco.com is arguably the place to follow the metals.  Yesterday and today, there has been a is a huge spike in the price of gold;  I was not expecting it, for sure, based on the analysis of inside baseball people who know there is little natural demand for gold, but they also note that the investment banks are pushing into purchases, now.  There gold war is now in the hands of speculators and those afraid of the dollar.

I also noted that there was rumblings that the Europeans (not us) were thinking about supporting the dollar. So far, not today, so the dollar drops and gold spikes.

Kitco has a new factor to consider when looking at gold movement.  Look at it what it showed today:

Kitco Gold Index As featured on Yahoo Finance
Did Gold Really Go Up?	Gold Price Change due to Weakening of US Dollar +10.70 Gold Price Change due to Predominant Selling -0.90 Gold Price: Total Change +9.80

Gold, in a Keynesian-free world went down .90.  In our world, thanks to the people we elected, so we can't blame others too much, it increased 10 points because of the descent of the U.S. Dollar. This is why I also hold silver. The investment game is distorted by politics and the Keynesian logic of Harvard and other festering places of thievery.  


What does this mean:  you dollar today will buy, say, as much gaoline as 1.10 yesterday.  


Gas prices are about to spike, as well. Thanks to environmentalists and other con artists, we depend on foreigners for oil and refined gas.  We will have to pay them more dollars, as they are worth less. 


It also means, when the U.S. decides to move to raise interest rates, even .25%, that is the self-defense signal (yikes, we are moving into a depression) and gold is going to tank big time, without any prior announcement to the general population. So, en garde.  It may be next year, but it will happen.  


The stock market's free ride will also be over.  Money will become harder to come by.  (The market is not reflecting much in the way of a business pick up as the desperateness and delusion of investors who think a drop of 50,000 in the unemployment figures for a month is a good sign.)  Look for a second wave of panic.  I notice in past depressions, etc., the second wave is usually further out, but who can say, these days.


So, keep your eyes on the bouncing ball.  

Caveat: watch for fraudulent letter.

The Obama/Gore/Goldman/Ayers con. Where is Rahm Emanuel?

This blog entry is via Irene. It would be easy to prove wrong.

Some highlights:

1. ...Joyce Foundation on whose board of directors Obama served and which gave nearly $1.1 million in two separate grants that were “instrumental in developing and launching the privately-owned Chicago Climate Exchange, which now calls itself “North America’s only cap and trade system for all six greenhouse gases, with global affiliates and projects worldwide.”


2.   Strong is on the board of directors of the Chicago Climate Exchange, "... North America’s only legally binding greenhouse gas emission registry reduction system for emission sources and offset projects in North America and Brazil.”... The nondescript Strong, nonetheless is the big cheese in the underworld of climate change and is one of the main architects of the failing Kyoto Protocol.


4.  Gore, self-proclaimed Patron Saint of the Environment, buys his carbon off-sets from himself–the Generation Investment Management LLP...  (IT trades this fantasy stuff)


5.   The largest shareholder in the [private] Exchange is Goldman Sachs.  Chicago Mayor Richard M. Daley is its honorary chairman, The Joyce Foundation, which funded the Exchange also funded money for John Ayers’ Chicago School Initiatives.  John is the brother of William Ayers.


Recall the hysteria when the VP Cheney wanted to keep his list of those who met with him about the energy business. He just met with them.  Just another double standard.

Obama, Maurice Strong, Al Gore key players cashing in on Chicago Climate Exchange

March 30, 2009 — Stefan Fobes

Obama’s involvement in Chicago Climate Exchange–the rest of the story

3.25.09 / Judi McLeod / Canadian Free Press

Good news to know that the truth will always out–even when you’re Barack Obama.

“Obama Years Ago Helped Fund Carbon Program He Is Now Pushing Through Congress” is a FOXNews story by Ed Barnes.  In short, “While on the board of a Chicago-based charity, Barack Obama helped fund a carbon trading exchange that will likely play a critical role in the cap-and-trade carbon reduction program he is now trying to push through Congress as president.”

The charity was the Joyce Foundation on whose board of directors Obama served and which gave nearly $1.1 million in two separate grants that were “instrumental in developing and launching the privately-owned Chicago Climate Exchange, which now calls itself “North America’s only cap and trade system for all six greenhouse gases, with global affiliates and projects worldwide.”

And that’s only the beginning of this tawdry tale, Mr. Barnes.

The “privately-owned” Chicago Climate Exchange is heavily influenced by Obama cohorts Al Gore and Maurice Strong.

For years now Strong and Gore have been cashing in on that lucrative cottage industry known as man-made global warming.

Strong is on the board of directors of the Chicago Climate Exchange, Wikipedia-described as “the world’s first and North America’s only legally binding greenhouse gas emission registry reduction system for emission sources and offset projects in North America and Brazil.”

Gore, self-proclaimed Patron Saint of the Environment, buys his carbon off-sets from himself–the Generation Investment Management LLP, “an independent, private, owner-managed partnership established in 2004 with offices in London and Washington, D.C., of which he is both chairman and founding partner. The Generation Investment Management business has considerable influence over the major carbon credit trading firms that currently exist, including the Chicago Climate Exchange.

Strong, the silent partner, is a man whose name often draws a blank on the Washington cocktail circuit.  Even though a former Secretary General of the 1992 United Nations Conference on Environment and Development (the much hyped Rio Earth Summit) and Under-Secretary General of the United Nations in the days of an Oil-for-Food beleaguered Kofi Annan, the Canadian born Strong is little known in the United States.  That’s because he spends most of his time in China where he he has been working to make the communist country the world’s next superpower.  The nondescript Strong, nonetheless is the big cheese in the underworld of climate change and is one of the main architects of the failing Kyoto Protocol.

Full credit for the expose on the business partnership of Strong and Gore in the cap-and-trade reduction scheme should go to the investigative acumen of the Executive Intelligence Review (EIR).

The tawdry tale of the top two global warming gurus in the business world goes all the way back to Earth Day, April 17, 1995 when the future author of “An Inconvenient Truth” travelled to Fall River, Massachusetts, to deliver a green sermon at the headquarters of Molten Metal Technology Inc. (MMTI).  MMTI was a firm that proclaimed to have invented a process for recycling metals from waste.  Gore praised the Molten Metal firm as a pioneer in the kind of innovative technology that can save the environment, and make money for investors at the same time.

“Gore left a few facts out of his speech that day,” wrote EIR.  “First, the firm was run by Strong and a group of Gore intimates, including Peter Knight, the firm’s registered lobbyist, and Gore’s former top Senate aide.”

(Fast-forward to the present day and ask yourself why it is that every time someone picks up another Senate rock, another serpent comes slithering out).

“Second, the company had received more than $25 million in U.S. Department of Energy (DOE) research and development grants, but had failed to prove that the technology worked on a commercial scale.  The company would go on to receive another $8 million in federal taxpayers’ cash, at that point, its only source of revenue.

“With Al Gore’s Earth Day as a Wall Street calling card, Molten Metal’s stock value soared to $35 a share, a range it maintained through October 1996.  But along the way, DOE scientists had balked at further funding.  When in March 1996, corporate officers concluded that the federal cash cow was about to run dry, they took action: Between that date and October 1996, seven corporate officers–including Maurice strong–sold off $15.3 million in personal shares in the company, at top market value.  On Oct. 20, 1996–a Sunday–the company issued a press release, announcing for the first time, that DOE funding would be vastly scaled back, and reported the bad news on a conference call with stockbrokers.

“On Monday, the stock plunged by 49%, soon landing at $5 a share.  By early 1997, furious stockholders had filed a class action suit against the company and its directors.  Ironically, one of the class action lawyers had tangled with Maurice strong in another insider trading case, involving a Swiss company called AZL Resources, chaired by Strong, who was also a lead shareholder.  The AZL case closely mirrored Molten Metal, and in the end, Strong and the other AZL partners agreed to pay $5 million to dodge a jury verdict, when eyewitness evidence surfaced of Strong’s role in scamming the value of the company stock up into the stratosphere, before selling it off.

In 1997, Strong went on to accept from Tongsun Park, who was found guilty of illegally acting as an Iraqi agent, $1 million from Saddam Hussein, which was invested in Cordex Petroleum Inc., a company he owned with his son, Fred.

These are the leaders in the Man-made Global Warming Movement, who three years later were to be funded by the man who was to become President of the United States of America.

If we follow the time line on where Obama was during the funding of the Chicago Climate Exchange, he was still a professor at the University of Chicago Law School teaching constitutional law, with his law license becoming inactive a year later in 2002.

It may be interesting to note that the Chicago Climate Exchange in spite of its hype, is a veritable rat’s nest of cronyism. The largest shareholder in the Exchange is Goldman Sachs.  Chicago Mayor Richard M. Daley is its honorary chairman, The Joyce Foundation, which funded the Exchange also funded money for John Ayers’ Chicago School Initiatives.  John is the brother of William Ayers.

What a flap when it was discovered that the senator from Chicago had nursed on Saul Alinsky’s milk, had his political career launched at a coffee party held by domestic terrorist Bill Ayers, and sat for 20 years, uncomplaining in front of the “God-dam-America pulpit of resentment-challenged Jeremiah Wright.

Folk were naturally outraged that the empty suit who would go on to become POTUS was spawned from such anti-American activism.

But the media should have been hollering, “Stop Thief!” instead.

The same Chicago Climate Exchange promoting public rip-off was funded by Obama before he was POTUS.

Even as man-made global warming is being exposed as a money-generating hoax, Obama is working feverishly to push the controversial cap-and-trade carbon reduction scheme through Congress.

Obama was never the character he created for himself in the fairy-tale version in “Dreams of My Father”.  He’s the agent of Change and Hope for cohorts making money down at the Chicago Climate Exchange.

The Barbarians are pushing at the gate of the Global Warming fraud, and to borrow a line from children playing Hide and Seek, Here they come, ready or not!

Posted in Global Warming Scam. Tags: al gore, barack obama, cap and trade, climate change, global warming, maurice strong, news,obama. 7 Comments »

Potpourri

Stray Notes:

1.  A street guy who has worked Bay Street, Scotia, etc in Toronto for many years in the gold business shares a recent insight. He says it is only in the past few months he came to understand how gold price is manipulated and its extent. He points out there is no gold in the U.S. vaults. His advice:  get the metal and hide it.

Rob Kirby Explains Gold Price Manipulation - by Jay Taylor, Oct 29, 2009www.miningstocks.com cbassi@miningstocks.com

2.  From UK:

Judge rules activist's beliefs on climate change akin to religion

Tim Nicholson entitled to protection for his beliefs, and his claim over dismissal will now be heard by a tribunal

• Buzz up!
• Digg it

• Karen McVeigh
• guardian.co.uk, Tuesday 3 November 2009 20.42 GMT
• Article history

Tim Nicholson leaves an employment tribunal at Audit House, London. Photograph: Anthony Devlin/PA

...In a significant decision today , a judge found Nicholson's views on the environment were so deeply held that they were entitled to the same protection as religious convictions, and ruled that an employment tribunal should hear his claim that he was sacked because of his beliefs....

3.

Obama-Pelosi to Health Insurers: Shut Up or We'll Shut You Down

By Brad O'Leary

... No longer able to sit idly by while the President and his chief minion in the House amateurishly try to revamp one-sixth of the U.S. economy, the health insurance industry released a study they commissioned that analyzes the costs of the Obama-Pelosi plan. The results are quite sobering. The study shows that "between 2010 and 2019 the cumulative increases in the cost of a typical family policy under this reform proposal will be approximately $20,700 more than it would be under the current system." (Emphasis mine.)

... Obama and Pelosi wasted no time demonizing the health insurance industry with hyperbole and rhetoric. And then Pelosi lowered the boom, expressing "tremendous interest" in revoking the industry's decades-old antitrust exemption. This proved to be no empty threat, as the Democrat-run House Judiciary Committee promptly passed a bill to do exactly that....   (No facism here)

4.  Hilary Clinton shows her hand while talking to Pakistani leaders:  

“The percentage of taxes on GDP (in Pakistan) is among the lowest in the world... We (the United States) tax everything that moves and doesn’t move, and that’s not what we see in Pakistan,” she said.