An American Success Story - Part I

- D. Stewart Armstrong

May 29, 2008

Preface: As I was putting this one to bed, I got to thinking. What really does make An American Success Story? Is it reflected in the share price? Is it the future potential? Is it in the reality or the perception? Is it the management and the project? Is it the stamina it takes over years to build a company and be ever cognizant of the single minded purpose it takes? I think it is a bit of all of all the above and then some. The relevance of any company along its growth curve it reflective of its ultimate success. What I want you to take away from the piece and the ones I’ve written in the past about Golden Phoenix is that this is a company building value for its shareholders and is doing so along the full continuum of its growth curve. I want you to review what the company said they were going to accomplish and then compare it to what has actually been accomplished within that specific period of time. It is empirically verifiable. It is a continuous process of building value for the company and hence for the shareholders. I keep saying “we all want it, and we want it now”. But the big money is made by those who understand trends in the investment arena and get in front of them; recognize true quality; appreciate integrity; and then have the patience and the ability to hold on for the long haul. This is applicable to all companies and Microsoft, Google, and Gold Corp among all the others, have been subject to the same process. How many times have you said. “Oh, if I had only bought such and such”. I think there is a such and such sitting right before us. Who wants to step up to the plate and be part of an American Success Story? I do and I believe.

Introduction

Of all the companies that I have been covering over the past 10 years or so, Golden Phoenix has been one of the most intriguing. Pure and simple, I think it is a real American success story and I personally think the best is yet to come for this junior mining company with a special focus on molybdenum (moly), gold, and silver.

I remember the period pre-Rob Martin and David Caldwell. Back then, it was a bit like the old Wild West and unfortunately the guys in the Black hats were far too many. But many things have changed since those days. The “White Hats” have proliferated and while the company plans for a TSX listing, it continues to ramp up production on their Ashdown moly project and drill for gold on their Mineral Ridge Project. The goal is to eventually run 100 tons of high-grade moly (generally between one and three percent Mo) through their mill at Ashdown. On a consistent basis, those are extremely profitable numbers.

The company turned itself around because it sought out and hired a management team that was seasoned, intelligent and creative. From the boardroom to the mine shafts, these guys instilled a work ethic and a team spirit of which all could be proud. They put into play a business plan that has every probability of success. They’ve engaged people, involved people, and endeavored to create a corporate culture that is both intense and rewarding. I honestly believe that Rob Martin, the President of Golden Phoenix, used his 25 years of success in the private business sector to create a blueprint for success within this company.

Measuring Success

We frequently measure a company’s success solely by the price of the stock; but there are many different ways to measure success. What I believe to be the most impressive trait of this company is adaptability. They have been able to evolve through the different business stages and cycles, which have kept them in the game—kept them relevant—and have done so in a very difficult economic period in America. Why? Because America has chosen to mislead the world about its own business plan, its own accounting, and has refused to be accountable for its own business practices.

Remember, when this company changed leadership about three years ago, there were so many skeletons falling out of the closet that they moved the “Orthopedic Med School of Nevada” to GPXM headquarters in Sparks, Nevada, so the aspiring med students had a plethora of subjects upon which to practice! Ok, so that part isn’t exactly true but you get the idea. They morphed from a “dead company walking”, to an exploration company evolving, to a production company coping, to a full-on producer with positive cash flow that gets better with each passing quarter. All along, they have managed to address one challenge after another while working on a shoestring budget and dealing with the aforementioned skeletons in the closet, and the necessity to change with the ever changing financial landscape. And again, I say to you that this has happened in a relatively short amount of time.

The company has grown from eight to eighty people (in round numbers). But more importantly, the quality of people they’ve attracted has been exceptional. Exceptional people rarely work for mediocre companies. They usually appreciate the challenge of working with the best, and the professionals at GPXM are no different. The three elements that have drawn so many to this company are the quality (grade) of the molybdenum, the team spirit, and the prospects for the future. Ladies and gentlemen it doesn’t get much better than this. And yet, investors are myopic and fixated on what I consider to be the wrong things.

Yes, Golden Phoenix has accomplished much over the past three years—a period that we thought was going to be very mining friendly, and to some extent it has been. But I see it as being a consolidation period as opposed to a rip-snortin’ bull market with share prices going ballistic.

Golden Phoenix has been consolidating right along with the rest of the markets. In this consolidation phase they have been adding value to the company and this is the true value by which measuring success in any company. They are not only purchasing equipment such as drilling rigs, they are developing the total infrastructure at the company from accounting to exploration; from production to sales. This is how one goes about measuring real success for a company.

Finally, remember that all of this “company building” will eventually be manifested in a higher stock price. I know, I know, because I’ve heard from many of you. We all want it and we want it now. I understand that and I am totally on side. Developing a company for the long haul is much more difficult than a cosmetic short term fix; but ultimately, when done properly, it offers up profit potential of enormous magnitude. This is the path the GPXM has chosen.

Please review my past articles on GPXM found on my site at www.seacoast-consulting.com . I’ll be the first to admit I thought the price would be higher by now. But I still believe that part of the equation will be settled in favor of the company. We all have to consider the horrendous financial landscape, which is smacking us firmly on the forehead.

I know this has been a long road—but it feels longer than it really has been. If I could offer but one piece of advice it would be that now is an excellent entry opportunity and this company is going to prove worthy of its name: Golden Phoenix. I fully admit to working for the company and helping them to get the story out. But for those of you following me for some time, you know that I am rather circumspect about whom I choose to work with.More…

New People on Board and on the Board

Creativity has been employed especially when it came to hiring new people. If you review the company roster right now, and then review the resumes of the people involved, you cannot help but be impressed. This is a company with top rate personnel, top rate projects, and a future so bright you do indeed need shades. The latest addition to the team is Roland Vetter, an executive with an excellent background in mining. He strengthens an already illustrious Board.

The Criteria and the Challenge

I challenge you to review the five most recent press releases and then ask yourself if you can see the long term merit of this company. These recent press releases address the (6000 foot) drilling program at Mineral Ridge; the appointment of Roland Vetter, just mentioned; national promotion by the President (Rob Martin) via Stu Taylor’s radio talk show on business related matters; excellent Q-1 results from their molybdenum project at Ashdown; and a recommendation by another well known analyst, Jay Taylor.

Lets see how well these press releases fit in with my own particular criteria for evaluating junior mining companies. Here are the Criteria for Junior Mining Companies I’ve listed for the past five years:

1. Intelligent People

2. Quality Projects

3. The ability to fund

4. The willingness to promote

5. Integrity

As I write this and review these past five press releases the company is engaged in all aspects of the above-mentioned criteria. We know that this company has the roster—please visit their website at www.golden-phoenix.com and witness firsthand. You may not recognize the names if you’re not involved in this mining community on a daily basis, but you certainly can review their resumes. There are some of the best people in the business currently working for and with GPXM.

Conclusion for Part I

I’m not trying to sell you anything nor am I asking you to buy. I want you to do what I’ve always requested. Learn about this company via their website, evaluate the facts, and then make your own decisions.

The old saying about leading a horse to water holds water. It’s true! You can lead a horse or a dog to water but you can’t make them drink. Cats? Forgetaboutit! But I’m sure you get the idea.

Currently, as Americans, we find ourselves in a difficult financial environment. Many of us are sending kids to college, trying to pay the mortgage, getting ready for retirement, paying medical expenses, and so on and so forth. We recognize the fact that we need to make our money grow, and to do so means we have to be a bit more aggressive. We don’t really want to go too far out on a limb and we certainly don’t want to lose all of our capital. We have to walk a fine line.

It is my opinion, even as someone who works with and for this company, that Golden Phoenix offers the potential for excellent returns. If you take the time to really understand this story and recognize the potential, and the success that can be empirically proven over the past three years, I think you may see the same opportunity that I see.

I know that the molybdenum at Ashdown is where the cash flow begins. But I also know that there is no rush like a gold rush. Gold is at around $900 and yet it should be closer to $2200 in inflation-adjusted dollars. I think that when GPXM is cranking on all cylinders, it will be an exciting time.

The move to the Toronto Stock Exchange is in play and has been announced. This has all sorts of positive long tern implications. When America finally wakes up to the fact that $900 gold is still inexpensive, even dare I say “cheap”, there will be a serious gold rush. I see Golden Phoenix right in the middle of it because of their re-development of Mineral Ridge, a mine that produced gold for a hundred years.

Until next time and Part II

D. Stewart Armstrong

Consultant to the Junior Mining Industry

Disclosure and Disclaimer for www.seacoast-consulting.com : In the spirit of full disclosure, although D. Stewart Armstrong (proprietor), Seacoast Consulting, Seacoast Publishing, and/or www.seacoast-consulting.com (web site) are independent entities, they may be employed by any of the companies mentioned in full or in part on this site and/or in any of the articles posted on this site. D. Stewart Armstrong, Seacoast Consulting, Seacoast Publishing, and/or www.seacoast-consulting.com may own shares in any of the companies mentioned. Although the author is an independent analyst, he is also a paid consultant by the Junior Mining and Exploration Sector. The proprietor is a private investor in the precious metals markets. He is not a board qualified or licensed investment advisor. All material is deemed to be accurate and to have been gleaned from reliable sources in a timely fashion; but said material cannot be construed as being totally complete or absolute. Any forward looking statements must be considered as such and taken into account. Consequently, D. Stewart Armstrong and/or the aforementioned parties can take no responsibility for any investment decisions you make or the results thereof. The proprietor does not accept responsibility for any possible errors in calculations disseminated by any company he represents or in which he or the site is involved, nor does he or the site guarantee or insinuate great success or any level of investment results. Consider any and all recommendations as personal opinions on the part of the proprietor and the writers and analysts contributing to the site. It is highly recommended, and even insisted by the proprietor, that investors, individuals, and all interested parties, conduct their own due diligence before becoming involved in any investment or with the interests of any company mentioned. That process would include direct contact with the company to confirm any facts, opinions, or ideas represented by these companies in general or on any Company CD’s distributed and referred to in these articles. The proprietor would suggest the possibility of hiring a professional for advice or to employ a certified investment advisor before making any investment transactions. Again, please consider these articles as opinions and please understand that investing in Junior Mining Companies is a high-risk, high reward proposition and you must take full responsibility for your own actions because there is always the possibility of losing all or a portion of your investment capital. This disclaimer applies to all articles, advertisements, and writers applicable to this site and to any corresponding links to this site including all Email correspondences and communications, and all communications with both public and private entities utilizing any format. This disclaimer is applicable to all articles and communications published previously and to ones to be published in the future. We shall do our very best to place these disclaimers in locations that will be easily accessible to the reader but by the same token it is the readers responsibility to locate the disclaimers and read them.

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D. Stewart Armstrong

May 14, 2008

This is a strange period in America. It is truly Orwellian in nature when down is up and up is down; black is white, vice versa, and Double Speak reigns. There is a strange wind blowing and it encompasses all aspects of our society. We must realize that so much of this strange wind is by design along with its corresponding political ramifications. However, other aspects of this strange wind are a result of a geo-political financial system that is breaking down before our very eyes because it is a system that has been abused to the max. One cannot de-construct the natural order of any discipline without anticipating negative repercussions. Go one step further and mess around with Mother Nature and we have natural disasters on our hands.

It is a period when there is a war but no one wants to acknowledge it. This in itself is exemplified by the fact that flag draped coffins are hidden from the media and subsequently the public. I’m not certain if this is the way to honor the men and women who have made the ultimate sacrifice for their country?

Are we concealing them in shame or because the sight of them may disrupt the shopping habits of the American consumer? After all, a depressed consumer is not a happy shopper. Are we hiding the coffins because they remind us of a war that no one wants to own?

It is a time when Americans are losing their homes at alarming rates and yet no one wants to really address the issue. It is a time when there is a liquidity crisis and yet it too, is swept under the rug. There is more paper /electronic money floating around than at any time in history but Mom and Pop America don’t have access to it—the banks do! Your small business does not. What is the common theme in these scenarios? Could it be that man-made manipulation has finally gotten out of control?

It is a time when there is an enormous de facto tax in terms of gasoline being refined from $125 per barrel oil. Yet no one wants to talk about it except the talking heads on CNBC or the local news anchor complaining about the high price of gasoline.

It is a time when America is borrowing 3 billion dollars a day just to keep the doors open. But wait! Today, May 15, 2008, Congress just passed a bi-partisan farm subsidies bill in the amount (drum roll please!) of $290 Billion dollars. There is so much pork that even the President threatens to veto it; and everyone knows the president vetoes nothing! No problem, our beloved Congress vows to over ride the Veto with a 2/3 majority. These are strange times indeed and I expect to see Dr. Strangelove and Mini-me arm in arm at our local Whole Foods store.

It is a time of enormous inflation and yet Americans have been told it is minimal and it is under control. Routine denials have been built into the financial landscape. Housewives and the family shoppers are looking at food prices that are the highest in 18 years. It is a time of paradoxes when the difference between the “haves” and the “have-nots” grows ever larger just as the middle class becomes ever smaller.

Immigration is an issue that pushes hot buttons but we have been told it is no problem. Yes, it is a strange time indeed. It is also a time when we must have our heads screwed on tightly because a fool and his money are quickly parted, err; if we can agree upon what money really is!More…

So far, the stock markets have held up and we have a Dow close to 13,000. We have gold at about the same price it was 25 years ago but how can gold, the barometer of inflation, be the same price it was 25 years ago. Doesn’t this seem just a bit odd to you?

It makes sense to me but only in the context of misinformation being disseminated at alarming rates by special interest groups. Journalistic standards have been placed in the meat grinder while government projections seem to have been accepted as truth? This leaves the US citizen in an untenable situation. What do we do? Where do we go? Who do we believe? Is it necessary for us to change our entire lives in order to accommodate this misinformation? What happens if someone in the family gets sick? Even if you have insurance, it’s a battle. I know this first hand. Insurance companies in general want your money in terms of premiums but they sure don’t want to offer you viable service in return.

So much of this adds up in a way that tells me America is a country in denial. We don’t believe that it (the disintegration of our society) can happen to us. But we are country in transition and those folks who understand this will do well while those who refuse to accept the reality which is currently facing this country are going down with the ship. That may sound pretty harsh, but if you’ve been keeping track of the financial news you’ll realize that it’s a harsh situation.

Political Campaigns and Fantasyland

If you follow the political campaigns currently underway for the presidency of the United States, I think you’ll find it amazing how little emphasis is being placed upon the issues that really affect the average American. Obama and Clinton don’t really have any answers and that is empirically verifiable by reviewing the 15 to 20 debates they’ve had to date. They talk in generalities; not in specifics.

They don’t seem to have the answers to a falling dollar or rising oil prices. The health care packages which have been offered up don’t make any sense. The HMOs along with all of the medical lobbyists in Washington, DC all have one objective and that is for their side to win. What is their side? It is the side that allows them to create maximum profit for their own particular organization at the expense of the American public. We all know that’s true and yet we really refuse to do anything about it because it takes time, commitment, and knowledge. Yes money is an element of the equation but is not the only one. We need to remember that we can do positive things within the system if we put our minds to it. In some cases, it’s 90% perspiration and 10% inspiration.

As far as Mr. McCain and the Republicans are concerned, I just cannot see how the country, even in its dysfunctional state would accept an extended four years of a Bush presidency/legacy. I am not a political pundit, but I’ve got enough common sense to look across the landscape and see that there is an enormous confusion created by a constant barrage of misinformation or disinformation. Nowhere is that more obvious than in the way the plunge protection team constantly and consistently endeavors to manipulate the price of gold and silver so as not to alarm the public. Most importantly, and it seems I say this in every other article; the real issue is about hiding the truth. America is in Denial and is hiding the financial truths, the political truths, and hiding the fact that the US financial system is in serious jeopardy.

Politicians talk a good game but when push comes to shove I wonder how they sleep at night.

Everything from air travel to education is under attack. The physical infrastructure of the country is in a downward spiral. This is certainly not reflective of the American “can do” attitude of the past. This is not the America that we grew up in or with.

We have been allowed to delude ourselves into thinking that everything is going to be “just fine” while we watch “Dancing with the Stars” or “Spin the Wheel”.

If we don’t acknowledge these problems that are affecting the country now, we are going to be in even worse shape– worse shape than you can imagine. You can’t begin to fix something unless you begin to recognize that something is wrong. In the case of America, there is a lot to fix and most people know that there is something terribly wrong but because of the constant barrage of disinformation we are kept off balance. There are so many areas to fix we simply don’t know where to begin.

The Proverbial Ostrich

We are a country in denial and I believe this is true both advertently and inadvertently. That is to say that it’s a combination of constantly being “spoon-fed” incorrect information by the powers that be while simultaneously finding it easier to put our heads in the sand like the proverbial ostrich. After all, who among us really wants to act upon the truth when it takes work, effort, money, and commitment?

For those of us in the trenches pressing for the Real American Constitution to be placed front and center for the past 7-10 years, it comes as no surprise that governments endeavor to fool all the people all the time. But for citizens who have been brought up on the idea that if the information comes from the American government, it must be true, this is an extremely difficult concept to grasp. More often than not, politicians have their own agendas and usually they are not the same as ours!

Conclusion

America is a Country in Denial because the alternatives are too harsh to consider. Like little childen, we want to believe in Santa Clause and the Easter Bunny. But the Country is headed towards a Halloween theme of Weimar Disintegration. There is not much we can do except to rearrange the deck chairs on the titanic. However, you can protect yourselves and your families with precious metals and knowledge.

America needs to get out of debt and we need to face reality. Junior mining companies are not for everyone because of the high risk high reward but after an 18 month period of consolidation, we are getting close to the next leg up in these markets. Don’t be left behind!

Furthermore the audience to whom I am now talking understands risk versus reward. And hence, we will set forth to examine some of the sector’s where I believe large money will be made. Those sectors are going to be in the precious metals and oil. That’s not to say that technology, manufacturing, financials, and housing will not recover. But currently, I would put my money in oil, energy, and gold for safety and growth.

Consider :

Oromin Explorations (OLEPF)

Golden Phoenix Minerals (GPXM)

Madison Minerals (MMRSF)

Newport Gold (NWPG)

Geocom Resources (GOCM)

Journey Resources (JNYPF)

These are but a few juniors which I’ve been following and working with for years. Patience is now the key but it is my personal opinion that each of these companies will at least double in the next year. If and when they double, consider taking your original investment off the table and ride with the “house money”. Some of these companies could do considerably better. All have excellent web sites and all you have to do is read and then pick up the phone and call them with your questions!

Until Next Time:

D. Stewart Armstrong

Consultant to the Junior Gold Mining Companies

Disclosure and Disclaimer for www.seacoast-consulting.com : In the spirit of full disclosure, although D. Stewart Armstrong (proprietor), Seacoast Consulting, Seacoast Publishing, and/or www.seacoast-consulting.com (web site) are independent entities, they may be employed by any of the companies mentioned in full or in part on this site and/or in any of the articles posted on this site. D. Stewart Armstrong, Seacoast Consulting, Seacoast Publishing, and/or www.seacoast-consulting.com may own shares in any of the companies mentioned. Although the author is an independent analyst, he is also a paid consultant by the Junior Mining and Exploration Sector. The proprietor is a private investor in the precious metals markets. He is not a board qualified or licensed investment advisor. All material is deemed to be accurate and to have been gleaned from reliable sources in a timely fashion; but said material cannot be construed as being totally complete or absolute. Any forward looking statements must be considered as such and taken into account. Consequently, D. Stewart Armstrong and/or the aforementioned parties can take no responsibility for any investment decisions you make or the results thereof. The proprietor does not accept responsibility for any possible errors in calculations disseminated by any company he represents or in which he or the site is involved, nor does he or the site guarantee or insinuate great success or any level of investment results. Consider any and all recommendations as personal opinions on the part of the proprietor and the writers and analysts contributing to the site. It is highly recommended, and even insisted by the proprietor, that investors, individuals, and all interested parties, conduct their own due diligence before becoming involved in any investment or with the interests of any company mentioned. That process would include direct contact with the company to confirm any facts, opinions, or ideas represented by these companies in general or on any Company CD’s distributed and referred to in these articles. The proprietor would suggest the possibility of hiring a professional for advice or to employ a certified investment advisor before making any investment transactions. Again, please consider these articles as opinions and please understand that investing in Junior Mining Companies is a high-risk, high reward proposition and you must take full responsibility for your own actions because there is always the possibility of losing all or a portion of your investment capital. This disclaimer applies to all articles, advertisements, and writers applicable to this site and to any corresponding links to this site including all Email correspondences and communications, and all communications with both public and private entities utilizing any format. This disclaimer is applicable to all articles and communications published previously and to ones to be published in the future. We shall do our very best to place these disclaimers in locations that will be easily accessible to the reader but by the same token it is the readers responsibility to locate the disclaimers and read them.

Opportunity on a Silver Platter

by Jim Willie CB May 6, 2008

home: Golden Jackass website

subscribe: Hat Trick Letter

Jim Willie CB, editor of the “HAT TRICK LETTER”

Use the above link to subscribe to the paid research reports, which include coverage of several small cap companies positioned to rise during the ongoing panicky attempt to sustain an unsustainable system burdened by numerous imbalances aggravated by global village forces. An historically unprecedented mess has been created by compromised central bankers and inept economic advisers, whose interference has irreversibly altered and damaged the world financial system, urgently pushed after the removed anchor of money to gold. Analysis features Gold, Crude Oil, US Dollar, Treasury bonds, and inter-market dynamics with the US Economy and US Federal Reserve monetary policy.

Editor: This opening paragraph above is a “pitch” and yet one that I believe has enormous implications for the entire geopolitical/financial system. I’ve deliberately allowed it to remain. For the full on version, resplendent with charts and graphs, visit Jim’s site at www.goldenjackass.com Take the time to read some of these articles even if you don’t understand each and every concept. After all this is how we learn. I’m certain that if you Email Jim with a specific question, he will answer it. Jim is well versed in statistical analysis, a subject I almost didn’t get through in college! Jim Willie is a new member in the Gift to the Gold Community. Please remember there is nothing to be gained, no quid pro quo, to be advocating Jim’s work.

And now for the Piece: Opportunity on a Silver Platter by Jim Willie

Once every several months, an opportunity is presented on a silver platter to purchase a spectacular investment in a strong uptrend, with loud indications of continued upward trend in price. Gold is heading well past $1200 and silver is heading well past $25 in the next several months, despite the orchestrated annihilation of honest valid reporting. How many times have the clowns on Wall Street and the financial subservient media networks claimed that the worst was over for the US Dollar, gold, the US Economy, the housing market, and bank bond losses? My guess is about once per year for the last five years, all wrong, and still wrong, just louder wrong now in tone. Has anything been fixed on the economy, housing, mortgages, or banks? No! The flow of US Fed repo money to banks has improved, that is all. That is not a remedy, but a bandage tourniquet, grossly misinterpreted.

Some relief has come for the US Dollar. My past article pointed out a pennant pattern and imminent breakdown that did not occur. Long-term corrections are difficult to call. Prospects for fundamental improvement are not visible, but the story has been sold, and sold vigorously. The embattled buck could easily see a couple months of reprieve, one month finished, one month more to come. The heavily oversold US$ condition needed to be cleansed in order to enable another powerful down leg. US bank dilution has provided needed cash, retail sales (especially cars) have been horrendous, housing prices and inventory have been miserable, foreclosures have more than doubled nationally versus last year, home builders are slashing prices amidst mammoth losses, business capital investment is on the wane, inventory levels are building, and gasoline prices (utility bills too) have put a major crimp on consumers. Meanwhile, the US Dollar has rallied based upon hope, prayer, and marketing. If truth be known, the Plunge Protection Team has been busy doing what they usually do best, corrupting with crucial interference in certain markets. They have been propping up the bank stocks, the homebuilder stocks, Detroit carmaker stocks, the Fannie Mae stock, and more, enough to lead to moderate rallies in the S&P500 and Dow Jones Industrial stock indexes. If truth be known, a massive coordinated effort has followed the G7 Finance Meeting, as central banks have been conducting overnight operations to prop the US Dollar. The crippled world reserve currency is inflicting damage on their domestic economies like an acid rain, as their floors fall out from higher consequent domestic currency exchange rates.

What has happened in the last few weeks, of real importance, which has made a difference? The US Federal Reserve has indeed plugged in their sizable lending facilities. They have taken in some garbage AAA mortgage bonds, overpaid on refund prices, and had to re-balance their own bond portfolio. US banks do not face bankruptcy as was the case several weeks ago; a scenario brought about by insolvency plus illiquidity. The effect has been to improve the US bank portfolio mix, but their insolvent status remains on a non-borrowed basis. Banks in aggregate have a slightly better liquidity position, but still a negative overall condition. Big deal! The US banks have gone from minus $100 billion to minus $90 billion in non-borrowed reserves. Huh?!? The problem is fixed? Methinks not! Can banks proceed without further bond losses after housing prices have fallen during the last few months, and during the next few months? Methinks not! Another huge round of bank bond losses comes in just a few months. Be patient. The night of bond loss follows the foul day of continued home price declines.More…

What has happened in recent weeks seems clear. The US Govt and US Fed and US Treasury have made a deal with the devil. Primarily Arabs (much less so Asians) have been encouraged to add cash in order to keep US big banks solvent. In return, the agents from the not-so-hidden Plunge Protection Team led by the US Fed & Treasury have engineered a counter-trend rally in bank stocks and mainstream stocks. They have also solicited the cooperation of the Euro Central Bank and Band of Japan in order to engineer a counter-trend US Dollar rally, as feeble as it has been. The smaller Bank of Canada has been very cooperative also. This all has occurred even though at the expense of UST Bonds, since something must give ground. They can corrupt most markets, but not all markets simultaneously. Lies offer cover to the portions they cannot control in concert. The BKX bank stock index has indeed risen in recent weeks. It faces some stern resistance here. It might make minor added gains. The reality of a profound wave of new bond losses will likely keep the bank stocks well chained to the mill posts. This too is covered in the upcoming May Hat Trick Letter.

The housing decline alone acts a powerful destructive force upon banks. The US Economic recession will be an equally powerful destructive force. Ordinary debts are defaulted outside the realm of housing. Vicious cycles with gripping feedback loops are at work. Bank loan portfolios on the household and commercial side are next to endure wreckage. Further monetary stimulus and federal stimulus are obvious next steps. Gold and silver will thrive. The USDollar will be harmed much more. The only saving grace for the beleaguered buck is the triple faceted mess in England with housing, banks, and certain recession, and the imminent downturn in the European Union. Competitive currency devaluation soon will be far along. European leaders already consider the high euro to be a destructive influence. They have declared war on the USDollar decline, and want it to recover.

US FED REBALANCE BACKFIRE

The US Federal Reserve has been forced to react to its massive underwriting of the insanity behind gutted US money center banks and investment banks, the latter of which function under different accounting rules and freedom to deceive. The effect has been to force the US Fed to issue more US Treasuries on the open market in their rebalance, since they gave away their more valuable UST Bonds in return for junk crapp bonds with AAA phony labels. The effect has been to lift US Treasury bond yields on both the 2-year and the 10-year maturity. The 2-yr T Bill yield has risen from 1.50% in March to 2.40% here in May. The 10-yr T Note yield has risen from 3.40% in March to 3.90% here in May. The rise in UST Bond yields has helped the US Dollar, attracting foreign investment. The rise in the UST Bond yields has led to the false notion that the US Economy is on the mend. The US Dollar has not risen much, but it has risen. The fact that the buck has stopped falling has led many to conclude that the capital flows now favor the beleaguered buck. Foreigners still shun US Treasury auctions though. The signal of an end to US Fed official rate cuts has nothing to do with strength in the US Economy, nothing to do with restoring the fundamentals of national finances to health. It has to do with the US Fed recognizing that a falling US Dollar has been accompanied by a tragic rise in energy and food prices, along with all the carts attached. It has to do with recognizing they have used almost all their ammunition in rate cut capital.

The bull market in commodities is not over. At best it will take a breather. My contention is that major US banks are speculating in the energy market in order to repair their broken balance sheets. Certainly Goldman Sachs is. The entire story line of the worst is over for the US Dollar and for the US Economy is patently false. This is just one more chapter of plain propaganda by the Wall Street community, the US Federal Reserve, and the US Govt. They are collectively worried to death, sweating bullets, even as precious capital blood has spilled in massive quantities. The entire US financial system has tragically turned insolvent. Inflation is the only option remaining, yet they cannot destroy the last standing asset group in US Treasury Bonds.

The most egregious backfire of banking flatulence has been the rise in long-term interest rates. This is precisely what the US Fed does not want, since it provides substantial headwinds for the housing & mortgage market, via higher mortgage rates. The bond market, via US Fed rebalancing, has properly priced the higher asset risk erosion from price inflation, as it should. Some have called this effect the next Bond Conundrum. Sure it is! In fact, the US Treasury complex is a maze of not just conundrums. It serves as a stark living breathing example of Goebbels (Nazi Information Minister) and Orwell (author of 1984) joined in a nightmarish marriage of deceit and fraud. The problem is that long-term bond yields should be over 10% since price inflation is even higher than that. Talk about an overvalued asset!!! The last bubble to burst is not crude oil and gold with the supporting cast of commodities. It is the UST Bond complex. Its prices are way way way out of whack. Sure, the US Fed is trying to stimulate with lower rates. But why would any sane thinking person buy a US Treasury Bond when the real return is minus 7% to minus 8%?

GOLD OPPORTUNITY & SILVER PLATTER

The opportunities given today in gold & silver will be written about for another few years. The prices offered in early 2008 will be seen as tremendous bargains. Price bargains were last seen in August 2007, in September 2006, and in mid-2005. The breakout of gold past the elusive 700 mark foretold the rally not just to 1000 but to 2000 and higher. It unleashed a new era. Ditto for silver, which rose past the elusive 15.50 level. Doing so foretold a rally not just to 20 but to 50. Give it time. Things are unraveling. Systems are broken. Solutions are nowhere. All efforts have an inflation stench to them. Desperation has entered central banker offices.

The gold price has found support off the 200-day moving average in classic form. The triple leg correction off the 1020 high is also a classic long-term pattern. It guarantees a firm foundation for the assault on 1000 with stable success. Note how the 1000 mark was eclipsed, but from a base around 650 to 670. The next base will be 850 or so. The silver price movement and patterns are similar. However, silver is heading to the heavens in price, joining its platinum brother and palladium cousin. Gold will be stuck fighting political wars, but making strong gains. The gold/silver ratio will show pronounced improvement in favor of silver in the next two to three years. Silver is in default on a nearly global basis. COMEX delivery of silver is interfered with. Silver coin dealers have almost nothing to sell. Even the US Mint has halted production of silver eagles! So silver price has declined amidst profound shortages? The stage is set for huge uplegs in the silver price. Gold will rise in concert.

The triggers for the US Dollar on the downside, and for gold & silver on the upside are more big bank bond losses. Nevermind the cause being the housing price declines. That has been ignored. When banks announce further big bond losses, the winds will change very rapidly, and with anger by the people. Rating agencies are cooperating in ways, but not offering ratings on debt securities in certain bond types. Yet they also are issuing huge downgrades of typically safe asset backed bonds. This summer will involve a very very rude awakening. The reality of recession, housing decline, and bank losses will undo the positive attitudes that are lifting the subprime US Dollar and stock prices broadly

WRONG CONCLUSION ON RECOVERY

So should we conclude that the US Economy has returned to health, evidence being a slight reversal of all that flight to safe haven into the US Treasury complex? The bond yields have risen, typical of what happens when the US Economy has recovered. In this case, if one reads the uptick in bond yields as a green light signal of economic vitality, then a totally wrong conclusion is reached. The US Economy is slowing down noticeably, as seen below with retail sales. A repeat of the 2000-2001 slump is evident, but the current slump starts at a lower level. The strange message is that US households can no longer burn home equity for purposes of consumption. Investment at the national level is insignificant at best, nonexistent at worst. Investment in financial engineering does not count! Bond yields should rise for the basic reason of the climb in price inflation. The main debate now is how deep the recession will be. Only the obviously biased folks, like the diminutive president, the compromised Treasury Secy, the rookie USFed Chairman, the hack US Govt agency heads, and Wall Street felon executives debate whether a recession is in progress or not. Their combined track record of fraudulent behavior continues. Their false messages continue. Corporate welfare continues. Massive cost inflation without wage growth benefit continues. The destruction of the middle class continues. The insolvency of America continues. Further wreckage of US banks and households is a virtual certainty. The financial markets just cannot accept these facts yet. It will be a long hot summer, with Chinese Olympic Games as a climax.

Other key data indicates that the US Economic recession is growing deeper. It is hard for me to write or speak the word ‘Recovery’ without laughter. The only thing that has recovered is acceptance of falsehoods. Long recoveries (even if tainted) are followed by long painful recessions, especially with the credit abuse seen in recent years. This is the first leg in a powerful recession, the likes of which have not been seen in half a century. Even Sir Alan Greenspasm recognizes a recession when he sees one. “We are in a recession. But this is an awfully pale recession at the moment. The declines in employment have not been as big as you would expect to see.” Gee, Alan! Check the Birth-Death Model corruption to the Jobs Report. A loss of 280 thousand jobs in March and another 280 thousand jobs in April qualify as hefty employment declines. My prism removes all B-D Model adjustments, in pursuit of reality, removing the garbage clutter. The obvious recession with horrible job loss screams of addition USFed rate cuts, much more accommodation with monetary accommodation (easy money), wave after wave of further home foreclosures, wave after wave of further bank losses, and new waves of bank failures, all of which will send gold and silver to the stratosphere. The truth hurts, so revise the truth. George Orwell is chuckling in his grave. Joseph Goebbels roars with laughter in the fire & brimstone of hell.

Details on bank & bond developments are covered in the upcoming May Hat Trick Letter. It also covers the housing market, whose decline is nowhere near at an end. In fact, the lingering glut of oversupply across the board guarantees another 10% to 20% in price declines. How will bank bonds react? Easy, they will lose perhaps 50% of their value, even the AAA-rated. Huge swaths of debt downgrades are in progress still. That news is kept quiet.

If you want a guaranteed howl, check out the Treasury Investment Protection Security, the infamous TIPS, another fraud. It pays out 0% now, claiming to protect from inflation. What a joke! It should pay out at least 5%, and perhaps 7% or more, since prevailing price inflation is running at almost 12% and long-term bond yields pay out less than a 5% yield.

MORE STENCH IN RECENT NEWS

The recent news is so horrible that it defies logic how Wall Street can keep a straight face on its deception and ongoing marketing program songs. Start with the US Govt carnival, as the April Jobs Report was trotted out last week. It immediately was met with derision, doubt, and double takes. The claims come that the US Economy and US financial system are resilient and have weathered the storm. The economy has faltered, tipping badly from the storm, into a recession obvious to all except those in power on Wall Street and the US Govt circus rings. This gang must be swept out in November, for colossal incompetent and widespread corruption, as stewards to an era of unprecedented loss of national wealth. The financial system has been rendered insolvent, with negative core reserve assets. How is that weathering the storm? Households are increasingly insolvent, hardly geared for economic participation. The only resilience detectable is from the US Govt and Wall Street carnival barkers, whose contributions are trumpeted wrong messages. They want your money even now, for yet another shift of wealth from the plebeians to the elite.

The April Jobs Data has once again brought attention to the Birth-Death Model, whose deception has come much more into the open, exposed to harsh light of scrutiny. The adjustment was openly discussed on financial networks, on the NYSE trading floor, and elsewhere. The fraudulent three-legged mangy dog is running in the open, in full view. Be sure that the scrutiny by many folks is lost almost immediately by the mainstream. Their attention span toward rays of light from reality is short. They quickly revert to headlines of news stories in the propaganda, recited by strained faces by guests in interviews. The April contribution to job creation from the Birth-Death Model was +267k jobs!!! Included are +45k construction jobs and +72k professional & business services jobs. The hacks at the Bureau of Labor Statistics either forgot to check the reality of job cuts from major corporations, or they are given marching orders by even bigger klutzes in management. Anger at the complete gang encompassing the Mussolini Fascist Business Model is not only warranted, it is demanded. Lee Iacocca, of former Chrysler CEO fame, recently delivered a speech wondering why outrage is not common and prevalent among the American populace, since the economic fabric of the nation has been destroyed by incompetence, corruption, and preoccupation with war. Here, Here, Lee!!! Never is any need felt on my part to justify my anger. If people asks me why, then they are most likely a contributor to the problem itself, or deaf dumb blind.

The reality of 280k job losses in March and another 280k job losses in April would have rattled the financial markets. The US Fed and Wall Street desperately want to sell the idea of recovery. They want suckers to buy the billion$ in stock shares they wish to sell here. Reality reported with massive job loss, in an obvious loud indication of economic recession, would have spoiled their mission of grand deception. If more official interest rate cuts were expected, that being the prevailing opinion, then the USDollar would not bounce like it has, the bank stocks would not bounce like they have, and a deeper US Economic recession would be anticipated. Gold would have risen from the anticipated policy response. As reality enters the room in the next few weeks and few months, all deceptions will be laid bare. Gold will catapult past 1000 easily when reality strikes hard.

Other horrendous news centers upon UBS and another $10.9 billion in credit related losses, will axe 5500 jobs mostly in the United States and United Kingdom. That is only fitting, since these two nations operate as centers of the most reckless economic models and home loan lending in modern history. In other mortgage finance news, Fannie Mae announced a giant $2.2 billion quarterly loss, and warns of severe weakness in the housing market. Don’t forget that Fannie and its equally fat partner Freddie Mac are expected to serve as acidic foundations in any Resolution Trust platform for mortgages. The housing market absolutely will not stabilize, and certainly not rise, unless and until a New Resolution Trust platform is in full gear operation. Its functions will be to provide secondary mortgage funds as it securitizes mortgages, to bury badly damaged and completely dead mortgage bonds in their acidic basements, and to provide desperate assistance in renegotiated mortgage loans when passing the loan writedowns to federal agencies who pick up the heavy lunch tab. Expect the New RTC to begin operations no sooner than early 2009, thus permitting additional housing price declines. Mortgage bonds follow. Bank losses follow. The key is housing. It served as the phony cockeyed foundation to the USEconomy from 2002 to 2006. Now it is an albatross.

GOLDMAN SEEKS BUYERS OF ITS CRUDE OIL CONTRACTS

True to form, in yet another chapter in their corruption, Goldman Sachs has announced the likelihood of a future $200 crude oil price. Conclude quickly that they are eager to find buyers of their long crude oil positions, as its price heads down. GSax has standing profits in need of liquidation, but they need more dumb demand. In 2005 they shorted the mortgage bonds profitably, even as they sold mortgage securities laced with fraud. In November 2007, they heralded a flat year for gold, just before its price vaulted from 800 to over 1000. Now these criminal geniuses are touting a strong year for crude oil. Doesn’t anyone ever question the clear biased motives of these guys? Simple conclusion is that crude oil is soon coming down. Watch gold rise as the pendulum swings from energy to precious metals.

JPMorgan might act as the chief corruption player behind the curtains, but without a doubt, Goldman Sachs acts as the chief corruption player on the open stage. JPMorgan was pulled onto the stage last month in its bold Bear Stearns raid. GSux continues to ply its trade. At least JPMorgan offered a straight interview in Germany, where CEO Jamie Dimon admitted the bank crisis in the Untied States is nowhere near at an end. He essentially denied that he would ever be really honest and forthright with his shareholders, especially if they were indeed broke. By the way, don’t trust anyone who goes by the nickname Jamie. My name is James, and you can call me an expert on the name.

THE HAT TRICK LETTER PROFITS IN THE CURRENT CRISIS.

Jim Willie CB is a statistical analyst in marketing research and retail forecasting. He holds a PhD in Statistics. His career has stretched over 25 years. He aspires to thrive in the financial editor world, unencumbered by the limitations of economic credentials. Visit his free website to find articles from topflight authors at www.GoldenJackass.com . For personal questions about subscriptions, contact him at JimWillieCB@aol.com

Ladies and Gentlemen:

I’ve been a big proponent of Golden Phoenix ever since the new management took over some two plus years ago. It seems so much longer than that. Rob Martin, who is a friend, and a very smart, savvy, and intelligent individual, wrote this attached letter to the shareholders. It is comprehensive, concise, and clear.

I’m certain that many investors involved with the Junior Mining Sector have been taking a beating lately; ain’t no two ways about it. GPXM is selling for about $.20 a share. I am personally purchasing more shares to add to my portfolio because I feel, based upon what I know about this company and it’s management, that it will eventually bounce back; and bounce back in a big way. These are “gimme” prices and I’m like a kid in a candy store. I can’t help but believe that this is the kind of company that will build fortunes for individuals clairvoyant in the ways of investing in the junior mining metals companies of today. My opinion is that large share positions will bring extraordinarily large rewards and these prices allow me to build a large share position. We all need to evaluate our own financial situation and of course realize that any investing in today’s markets is a risk unto itself. Always do your own due diligence.

Another one of the primary reasons I’m posting this letter is because I would like for you to extrapolate certain general themes of information that Rob is presenting and apply them to your own favorite companies and the market in general. You see, Rob is excellent at just about everything he does and that would include thinking, creating, and writing. When we get together for our weekly chats, I need a tape recorder running to pick up his ideas and his phrasing. He and David Cauldwell, along with the rest of the team they’ve assembled, are going to do extremely well.

Yes, yes, I know we all need money now and who has time to wait when the mortgage is due. But it may take another three or four months or several years. GPXM is building a company, not a stock play. Please remember that with any of these quality juniors that I bring to your attention.

A stock play is here and gone and any value is ephemeral in nature. Better be very quick or you’ll miss the one or two selling opportunities. A quality company on the other hand keeps building value over time; and while there may be cycles with which to wrestle, the trend is always up if it is managed properly. Why? Because a company that is struggling to build value over time is one that has the best interests of its shareholders at heart. I could not personally emphasize that more! Because of this scenario, there will be time for reaping just as now is the time to be sowing.

In my opinion, today, there are opportunities galore in the Junior Mining Sector. Investors have a second chance here. I personally don’t plan on squandering the opportunity.

And now, here are the comments of Golden Phoenix’s President Robert Martin which I have found to be honest, straight-forward, not “sugar coated” in any way. It’s exactly what I’d expect from the President of a company which is endeavoring to build real value over time.

GOLDEN PHOENIX MINERALS ISSUES PRESIDENT’S LETTER TO SHAREHOLDERS

SPARKS, NV, April 11, 2008 -Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM -News) today issued the following letter to shareholders, posting it on its website: http:www.golden-phoenix.com. It follows in its entirety.

Dear Fellow Shareholders:

We are often asked about the growing dichotomy between the Company’s rising success, truly a monumental accomplishment, and its falling share price. I am doubly aware of this: I left the ranks of outside shareholders to join the fight to restore, rebuild and revitalize Golden Phoenix and I am a shareholder.

Our share price is especially disappointing considering our accomplishments over the last 40 months. Your Company has:

• Retired the majority of the Company’s debt

• Concluded its five pending lawsuits with significantly favorable settlements

Permitted, built and put into operation the Ashdown mine, which generated more

than $10 million in sales from molybdenum in 2007.

• Expanded all affiliated operations from 6 employees to 75

• Upgraded all accounting and audit functions to meet the increasingly stringent

• Sarbanes-Oxley requirements

• Created a Technical Services Group

• Launched a state-of-art exploration and drilling division.

We are taking the steps necessary to reverse the trend and bring the value of the shares in line with the value of the Company. A list of possible reasons for the decrease in the share price and, more importantly, what we are doing to reverse this, follows: read more

Conclusion

Let’s begin with what I feel is most important. This article is really about debt and how it is affecting every facet of American life. There are times when debt is acceptable but it is never acceptable to carry too much because suddenly we discover we are on the defensive instead of the offensive; and this affects every aspect of our existence; individually to nationally. Put another way, too much debt traps you. Currently, on an individual, local, state and federal level we have debt that exceeds $50 trillion. Some would argue that the federal government alone has a debt load of over $50 trillion. That’s a lot of money any way you cut it!

There is also a form of debt called derivatives. Derivatives are insidious vehicles with counter party risk that exceed $500 trillion. That’s correct, $50 trillion in debt plus $500 trillion in derivatives which even the professionals cannot get a handle on. The derivatives fiasco is absolutely a black hole. We’ll just forget about the $500 trillion in derivatives for now. But lest we forget, banks, hedge funds, and other financial institutions are tied to these derivatives; if not drowning in them. Erudite investors like Jim Sinclair and Warren Buffett have described them as garbage.

I certainly don’t believe that neither this generation nor any subsequent generation will be able to repay some $50 trillion of debt. If the derivative instruments begin to fall like a stack of dominos, nothing on God’s Green Earth is going to save us. Most people don’t even understand what they are? In essence, they are “futures contracts” on steroids and they are totally out of control. We can talk about nominal values and mark to market mechanisms but there is no reason to understand the mechanics–just the fact that they exist and are a huge threat to our global financial system. Consider if you will, that the official number released by the US government, states that our national debt is somewhere around the $10 trillion mark. However, when one considers the off budget items, the compounding interest on the existing debt, the debt for the Iraq war, and all of the other unfunded liabilities, we end up with a figure far in excess of $10 trillion. Remember that old expression, “it’s the economy stupid”? Well, now the new saying should be, “it’s the debt stupid!”

Common sense dictates that these levels of debt will ultimately do us in. The government cannot create dollars forever without eventually suffering negative consequences. As a result of these enormous levels of debt and the insane ways that the government has tried to address the unwinding of generations of mismanagement, there are only one or two vehicles which will safeguard your assets. They are gold and silver, and perhaps the house or the property in which you reside provided you have a manageable mortgage or own it outright. If you truly want to be safe, consider owning the physical metals. Of course, most of us don’t have the means to go out and purchase a few 4.5 kilo gold bars; but there are one ounce gold coins and even smaller denominations. I don’t believe in owning exchange traded funds (or ETFs) because they are too ripe and too big a temptation for the politicos to “borrow”.

I’d rather own a quality junior mining company that is well managed. I view them as long term options on gold without the time decay. And hence , we have the conclusion of this article.

Introduction/Preface

My real job is to point out / suggest, some exceptional junior mining opportunities invariably related to the precious metals complex. To that end, I am going to suggest Oromin Explorations (OLE.CA or OLEPF.OTC), Golden Phoenix Minerals (GPXM.OTC) , Geocom Resources (GOCM.OTC) , Newport Gold (NWPG.OTC), Lund Gold (LGD.CA), Madison Minerals (MMRSF.OTC), Journey Resources (JNY.CA), and Buffalo Gold (BYBUF). These are but a few of the many quality juniors which are now available for giveaway prices. They have been beaten down for any number of different reasons.I have my own ideas for suggesting the above companies, not the least of which is the fact that I speak with the management of these companies on a very regular basis. I feel I have good working relationships with all of them and that puts me at an advantage. I am able to pick up on facts, programs, relationships, developments, and directives that are available to each and every one of us.

However, the opportunity of speaking with these people on a regular basis helps me to zero in on the company and its objectives along with the particular focus the management is endeavoring to emphasize. More often than not, relationships with people are what give you the edge.

I’ll give you one example. Golden Phoenix Minerals is now selling at around $.17 a share. I would like you to go back and review my past articles on this company. Nothing but nothing has changed. Well, that’s not really true. What I should say is that nothing on the negative side has changed and there have been many positive developments. If I didn’t talk with Rob Martin, the President, on a regular basis, and if I didn’t have the long term relationship I have with him, I’d be concerned. But I do and I don’t.

The market is punishing these juniors for several reasons not the least of which is that many assume that every company has a liquidity crisis. Such is not the case.

Another company which I have been recommending for a very long time is Oromin Explorations. Given what I know about the company and its management, and given the fact that it’s selling for about $2.70 per share, it is my opinion that it is a “steal”. I know one of the principals of the company who is a stickler for proper protocol. I would have to use truth serum or some such method to acquire any information not contained in a press release. But I know the man, and I trust him.

It gives me the confidence I need to keep getting the story and the idea out to you. Simply go to the website and review the recent press releases on these companies. Yes, “Juniors” are high risk-high reward, but quite honestly anything having to do with gold and silver in the months and years to come is going to be an excellent opportunity for financial advancement if the company is well managed. The most difficult part of investing in any of these juniors is the patience required.

However, when you amortize the possible increases or appreciation of these companies you will find that they stack up quite nicely against some of the major components of the Dow and the S&P. Part of the problem today is that people are pulling in their horns; adopting defensive measures, and feeling that they don’t want to take risks. I don’t really believe there are any more risks in some of these juniors –dollar for dollar– as there are in some of the major companies. All you need to do is look at Bear Stearns and the fiasco that emanated from that particular situation to understand what I’m saying. But the financial community, (read Wall Street) sometimes makes sacrifices at the altar and they sometimes eat their young. Bear Stearns is indeed part of that process whereby a smaller company was sacrificed at the altar of greed in order to protect a larger brother–whether they liked it or not. Of course the real losers were the shareholders but who gives a darn about them?

In today’s world, it is difficult to find a level playing field in the financial arena. All of the rules and regulations from the SEC are to protect the larger interests and not the “small fry”. To that extent, I believe we’ve been inundated with so much negative financial news that most of us simply do not know where to turn. After all, most of us are not economists and when you throw all of that sophisticated financial data at an unsophisticated investor, you are left with “puzzles of the mind”. Good title for a movie, don’t you think? Speaking of minds, some of the very best are grappling with all of these issues being thrown at a disillusioned public. I’m going to list a few of them down below. But for now I want you to focus on three things: Debt, the Precious Metals, and the relationship between the two. For now,” it’s the debt, stupid!” That particular statement is meant for Mr. Green scam” and Mr. “Helicopter Ben”. read more