D. Stewart Armstrong
I have been watching from the sidelines for several weeks now and I’ve been as much agahast as the rest of you regarding what is happening to our country. I left the Jim Willie Piece up in the “news to use” spot for quite a while because he hit the nail on the head. It is worth reading again and again.
The volatility of the financial markets is both frightening and amazing. It is quite obvious that we are witnessing a history that we would prefer not to see. Many of the middle class are stuck and I can only say how truly sorry I am that we’ve found ourselves in this predicament. This is from Enrico Orlandini: DTC Analysis SAC; www.dowtheoryanalysis.com or email EBO@dowtheoryanalysis.com/
This writer is on the same level as Roger Weigand in his commentary. He will tell you the truth! Subscribe to his letter along with Roger Wiegand at www.webeatthestreet.com He too will tell you the truth. Ladies and Gentlemen–what is the real truth worth to you these days?
DAILY REPORT (10/23/08) A Brain Dead Congress by Enrico Orlandini
This may come as a shock to some of you, but the United States is quite possibly the worst run entity in the world, with the possible exception of Zimbabwe. Worse than Argentina! If you want to assign blame for the mismanagement, you must look at two groups:
· Government and this includes all facets: Congress, the Senate, the White House, and the judicial system, and it is probably the most inferior group of politicians in the two hundred and forty year history of the US.
· The American people for always choosing the easy way out; for voting for anyone and everyone who told you that you could have something for nothing. Congratulations, you got what you deserved!
The fact that these morons could simply sign off on a US $700 billion dollar bailout, with no more than a couple hours of debate, leaves me speechless. Then to watch Congress sit idly by, while the Fed injects another US $1.5 trillion, without so much as batting an eyelash, makes me livid.
So, what do the financial news channels focus on? Today the idea was to shine the spotlight on Argentina and imply that the problems in the US are somehow related to problems traced back to emerging markets. This of course in nothing more than an effort to distract your attention from the real problem, i.e. the United States defrauded the rest of the world. It did so by selling worthless assets, disguised as “AAA” debt, to the rest of the world. People like Rubens, Paulson, and Greenspan were the chief architects, and clowns like Author Levitt (ex-SEC head) put their seals of approval right next to Standard & Poor’s. The average American slept through all of this, but I want to see how well he sleeps when he comes to the realization that his pension fund is full of similar crap. Plain folks at GM and Ford will learn the hard way what their pension funds are worth, when these companies close their doors, and that it could all have been avoided. Some years ago, the auto unions stopped channeling funds to the mafia and began to send money to funds as well as entities like Fannie Mae and Freddie Mac. In my opinion, they were better off with the mafia; the rules of the game were much clearer.” End
I am deeply troubled that our government deems it fit to bail out Wall Street and the banks without bailing out the Middle Class. They then have the unaldulerated audacity to tell the American people that this is all for our good!
Jim Willie (the Golden jackass.com), Jim Sinclair, (www.jsmineset.com) Roger Wiegand (www.webeatthestreet.com) J. Taylor (webeatthestreet.com),Bill Murphy of LeMetropolecafe.com have all been crying out to listen up. The folks I have just mentioned are highlighted in my annual “Gift to the Gold Community” and have been telling us the truth for many years. Yet how many of us have really listened to them? Look, I’m not here to worsen the situation or to heighten our mutual misery; I’m here to suggest to you that even in the worst of times people can make fortunes. We have to look ahead and we have to understand what is really occurring around us. Regardless of the current price of gold and silver, they will retain their value. It will also appreciate after the “games” are over. And brother, are there ever games.
For example, I don’t believe for a moment that Paulson’s plan is going to trickle down and benefit the average American. Paulson’s plan has always been to benefit his J.P. Morgan cronies along with Wall Street. If you wanted to help the American citizen, you would inject that $750 billion directly into their pockets via vouchers, reducing taxes, and penalizing banks that sit on the money they are given for exactly the purpose of lending. Let us not forget, that the $750 billion (along with the $150 billion in pork) is our money. It belongs to the American citizens. It does not belong to Wall Street or to AIG, to the banks or any other public company. It is our money and it is about time we spoke up.
Through intimation and deception they would have us feel that they are doing us a tremendous favor by bailing out the very people and the very banks that have put us in this predicament.
I am sorry but it is time for American citizens to take back their country. To that end, do not believe for a second that either Obama or especially McCain will turn this ship around. They cannot possibly do it because the cost is just too enormous, the debts are too enormous, and the will — especially the political will is not there.
ANYONE POLITICIAN WHO IS REMOTELY CONSIDERING RAISING TAXES OR RAISING INTEREST RATES IN THIS ENVIRONMENT IS DOWNRIGHT CRAZY. The Thing to do is to CUT WASTEFUL SPENDING AND FOR THE NATION’S SAKE–CUT THE PORK!
I believe that point was adequately proven when those idiots in Congress added on “pork” in the amount of $150 billion to a critical bailout bill. But, remember that bailout bill was for the banks — it was not for the American citizen. $750 billion would have made most of the pending foreclosures whole. That is to say that the amount of money that was spent and is going to be spent on these “Tarps” could be used to stabilize the housing market.
The Congress in its infinite wisdom and via the pressure from the special interest groups has chosen to back everything and everyone except the American citizen whose money they are using for illegal wars, bailouts, and pork. Richard Russell suggested that money be used to rebuild the country much as they did during the Great Depression. Again, the amount of money they are wasting could easily be used in a judicious manners in order to put people back to work. The problem is that the Congress has been so “bought and paid for” that our country is quickly going down the drain. Forgetaboutit, we’re already halfway down!
How long have they been talking about NOT being in a recession? How long have we’ve been told there is no inflation? We’ve been in a recession for years–now we’re on to something worse. The pitiful part of it is that many of us have to start over. The pitiful part of it is that one simply goes to the grocery store to see the lies quoted in the CPI and the PPI. Perhaps this is all about “dumbing down” America.
Remember the old saying, if I owe you $50 I’m in trouble but if I owe you $500,000 you’re in trouble. Link that to the idea that Paulson has nationalized banks and is well on the way to completing the task meaning that those banks are going to be controlling the US political system. These are the same banks that have gotten us into this mess in the first place. What do we do? Well we empower them; we give them money– we give them our money– and so they grow more powerful while the public grows more fearful. Is this whole entire plan by design? Or is this just some happenstance occurrence based on no vision. I believe personally that this was by design. Perhaps it’s not planned out to the degree some would argue, but I believe there was a thrust to enable the powerful while dis-enabling the American voter, the the backbone of the United States.
When you observe the level of illegal immigration that is allowed, when you think back to Enron and how little fallout there was considering it was the writing on the wall, and when you consider how the government goes about empowering the same entities that have stolen from the United States public for years, you begin to realize that this is not the idea the founding fathers had when they created the Constitution of the United States.
If the only weapon that we have is our votes, that I would ask you to vote your conscience and if that means voting for Ron Paul or some other libertarian even though you think they won’t win, at least you are voting your conscience.
Personally, it would appear that Obama is pretty sharp and has run an excellent campaign. I have to agree with Powell when he refers to Palin as not sufficiently seasoned or experienced for the Presidency. What more do you need to say?
Right now our Country needs people of integrity–people like Powell.
Politically we are all Americans and in the same sinking boat. I would urge you to avoid the temptation of buying into the “us versus them” mentality. Republicans and Democrats are basically the same and they are all getting funded from the same multinational-international forces. The idea that these two parties are truly different is now a function of a bygone era that only benefits the political campaign managers. It has all changed. America needs to unify; it does not need to be divided. Politicians are great at the us versus them scenario but in the final analysis, when push comes to shove our very country–our way of life is at stake, we had better pull together and if we don’t we’re not going to have anything to pull for at all.
There are several vital and critical “BIG PICTURE” steps that America needs to take:
1. One is to eliminate the federal reserve which is the biggest ripoff in the history of the United States and its creation was really the beginning of its downfall back in 1913.
2. The second thing that we need to do is to vote out all of these politicians who have acquiesced to their (senior) congresspeople and their special-interest groups thereby gutting the United States and the principles upon which she was founded.
3. The third thing that we need to do is to find a way to a gold and silver backed currency. Gold by itself is in too small a supply, but silver could certainly be used to augment the financial system.
Immediate Objectives:
1. Unlock (Stimulate) the credit markets: If the banks are getting these funds at the expense of the American Taxpaper, make certain they begin loaning it out!
2. Commerical paper needs to be covered by the Government
3. Create Jobs any way possible–raising capital gains taxes is not the way.
4. Get the US military out of these countries that don’t want them there and save billions which could be invested in the infrastructure of the US–jobs!
5. Most Importantly: Stabilize the real estate markets, and stop the foreclosures! Help Americans with their own tax dollars. I say it again, this government is helping banks, special interests, and everyone in between but not recognizing that the failure of the average hard working American causes more strain on the system than all of the things they are currently doing. Housing is the fundamental basis of the entire US economy, followed by consumer spending. Without housing there is no spending. Without spending there is no economy. Without an economy there is no country! Duh!!
The people in Washington need to stop trying to be/maintain an empire because those days are history. I don’t know of one single American that wakes up in the morning and says, “Gee, ain’t it great to be part of an Empire!” I thank many of them wake up and say, “gee, I hope I can get a job today!”.
The current administration along with the past administrations have not known when to stop their conquests and consequently polls across the globe indicate that America is now viewed as the most hostile threat to peace in the world. I believe we have military bases in over a hundred countries across the globe and many of those countries no longer desire our presence.
America needs to be the front-runner in human rights, preserving the environment, saving the animals, and preventing the continuation of global warming.
Americans need to choose its leaders more wisely by getting rid of the notion of “us versus them”; or Republican versus Democrat. We are playing right into their hands when we accept that kind of thinking.
I could go on ad nauseaum but I think addresses a few issues of this crisis.
One more thing about gold. Look, right now, there is a rush for liquidity and people need money to survive. Most of us have been on a very tight rope–living week to week or paycheck to paycheck. Our investments for a rainy day have been used up or dissipated due to the aforementioned crisis. Gold is orchestrated down by the PPT while simultaneously being sold by those needing to raise cash. This too exacerbates the vertical plunge in the junior mining shares that have many of our portfolios down by 70-80%.
Make no mistake. America is at a critical crossroads and if we don’t clean out the cesspool, it is going to continue to overflow into our living rooms.
Vote–write–make your voice heard both locally and nationally. As Americans we need to create our own “TERM LIMITS”.
D. Stewart Armstrong
consulting@seacoastpub.com
Conmsultant to the Junior Mining Community
Posted by D.Stewart Armstrong in Articles