Thursday, May 30, 2013

Haunted By The Last Housing Bubble, Fitch Warns "Gains Are Outpacing Fundamentals" | Zero Hedge

Haunted By The Last Housing Bubble, Fitch Warns "Gains Are Outpacing Fundamentals" | Zero Hedge

Fitch warns that house price gains are not fundamentally sound and could even reverse. I have been saying that of course. There will be massive volatility in housing because the foundation of stability, the 20 percent down mortgage, is toast. 

Carrington Stops Buying U.S. Rentals as Blackstone Adding - Bloomberg

Carrington Stops Buying U.S. Rentals as Blackstone Adding - Bloomberg

Heads up. Hedge funds are putting a halt to their mass investment in US housing. The next wave of investors could be left holding the bag. You can't raise rents when you have a boatload of houses out there for rent and you have many sitting empty and you have wages stagnating. 

Wednesday, May 29, 2013

Higher inventory causes rental rates to fall flat | HousingWire

Higher inventory causes rental rates to fall flat | HousingWire

Rental units are surging as investors place their cash purchases on the market. This is flattening out rents and even causing rents to decline. This is good for renters, in most markets, but bad for the small investor who could be wiped out. Lower rents could ultimately be good for the economy, but big hedge fund buyers may want to dump at some time in the future.

If house prices go berserk, rents won't keep up the pace. 

Monday, May 27, 2013

International Energy Statistics

International Energy Statistics

The total world oil consumption does not justify the high price of oil. Decline in Europe and in North America is massive. It is past time that the banksters release oil from a cornered market of gross and greedy manipulation. If you look at the chart you will see that Asian increases have not offset Europe and North America decline in usage. Wake up America and demand an end to high oil prices. 

Germany's DZ Bank to end food commodity speculation | Reuters

Germany's DZ Bank to end food commodity speculation | Reuters

Step in the right direction, however, governments must end food and petroleum speculation. We can't just rely on the banks to help mainstreet. As long as they can tax main street with speculation as I have said all along, then there will be no recovery in Europe or in the United States, or in Japan.

Sure, China and Germany are making out ok but eventually they won't have anyone to buy their products if the middle classes are dumped on by the speculating banks. This move by DZ bank is both courageous and long overdue. 

From the article:

Groups such as Oxfam and Foodwatch have said such trading is responsible for pushing up international food prices and exacerbating famine in poor countries.
I have been arguing this point for YEARS, and this is mostly fallen on deaf ears. And we wonder why the economy is suffering. 

My First Las Vegas Billionaire Sighting Steve Wynn at the Encore |

My First Las Vegas Billionaire Sighting Steve Wynn at the Encore |

On May 20, 2013 I spotted Steve Wynn at his hotel masterpiece, the Encore. You may find the article interesting. 

Sunday, May 26, 2013

Republicans Push the Agenda of the Economically Fittest Exterminating the Poor

Republicans Push the Agenda of the Economically Fittest Exterminating the Poor:

From the site:

A Louisiana director of a primary care organization explained that in his state “If the breadwinner in a family of four works full time at a job that pays $14 an hour, he or she will be eligible for insurance subsidies. But if they make $10 an hour, they will not be eligible for anything.”
Truth is, the Republican fascist minority has proven itself as the enemy of the American people. If the above statement about the $14 dollar per hour fellow versus the $10 dollar per hour fellow is true, and there is no reason to believe this Republican, then the Republicans have forfeited the right to ever rule again in this country, not even counting their involvement in the 9/11 conspiracy.

This is a very troubling party of greed. God will have their souls and the Apostle Paul warned that they would oppress people. The poor will always exist, but showing no mercy will be judged.

The Republicans must truly think there is no God. And interestingly enough, they claim to be the party of religion. We know that this is just for politics, which will make them twice as fit for hell as everyone else. 

Eugenics is the embodiment of evil, and must be resisted at every level. The real soul of the Republican is manifest in Eugenics. The Democrats are not much better, as they rub shoulders with Eugenics proponents as well. But at least they have not put in place a plan to let people die without medical help.

Friday, May 24, 2013

You Democratic Bastards. Quit Acting Like the Republicans

Banks' Lobbyists Help in Drafting Financial Bills -

Democrats are watering down banking regulation like the Republicans. You dirty swine. Shame on you you turncoat Democrats. 

Free-Market Conservatism Kills/That Damn Oklahoma Republican Governor Won't Mandate School Shelters

Daily Kos: Free-Market Conservatism Kills-Oklahoma Buildings Don't Have Safe Rooms Because "Regulation Rankles"

As tornado belt states subject themselves to horror and death, the leaders of these states, mostly red, don't want to tell anyone to get a shelter.  According to one official, "government regulation rankles".

Are you kidding me?

And on the Weather Channel just last night I heard the Republican governor of Oklahoma, Mary Fallin, a class one idiot, say that she does not support even placing mandatory shelters in new schools. What a damn idiot she is.

Democrats are far from perfect, and I don't like lots of what they do. That is why I am an independent. But Republicans are clearly unfit to rule in so many ways. Free markets? What free markets do we have when the bankers manipulate the markets?

But I digress. The free market mentality that does not force shelters in tornado alley is just stupid. Old historic buildings all had shelters. That is just what you did.

Now, Republican retard government would let citizens and children be subjected to tornado destruction in the name of a free market.


Wednesday, May 22, 2013

Tea Party Congressman Chews Out IRS Official Who Pleaded The Fifth [VIDEO] - Business Insider

Tea Party Congressman Chews Out IRS Official Who Pleaded The Fifth [VIDEO] - Business Insider

Listen up people. Here is a Tea Party Congressman chewing out the IRS official. But the Tea Party is supposed to be a tax exempt, non profit organization. Yet we have a TEA PARTY CONGRESSMAN.

That, my friends, is what is wrong with this picture. The Tea Party is a political machine not worthy of tax exempt status.  

New Mortgage Lending Rule Intended to Protect Borrowers May Hurt Self-Employed - Yahoo! Finance

New Mortgage Lending Rule Intended to Protect Borrowers May Hurt Self-Employed - Yahoo! Finance

Just FYI: This lending law, which is supposed to be applied in 2014, is a law that will make sure that borrowers must be able to pay loans they get for house purchases back. Only problem is there was a law in existence, in 1989 that was supposed to do the same thing and yet George W. Bush ignored the law completely in the housing bubble.

I wrote about this law and here is an excerpt:

Turns out, if you make a loan to a person and don't adequately establish that he can pay it back, it is against the law.  This law is called the Financial Institutional Reform, Recovery and Enforcement Act of 1989 (FIRREA). The law requires that banks lend to people who are able to pay the loans back.
One could say that W's failure to enforce this law was the direct cause of the housing bubble in the last decade. 

The Yahoo title is about as dumbed down as it can get. Nobody cares about hurting the self employed if it means the law is followed as it is supposed to be followed. If you can't show you can pay back a loan, the law says you should not get one, period!

UPDATE: I made a comment at where I placed this article for discussion. Here is the statement:

...the abuse was made of these stated income loans. And the thing is, the state income loans in the UK were abused before they were applied to the masses here in the housing bubble. The intent is clear, if you want a housing bubble you abuse stated income, self certifying, liar loans.
The point is, and Henry Blodget does not understand, that the way to blow a premeditated housing bubble is to abuse stated income loans. That is the method of operation. It should be a criminal offense for the banking cabal to be permitted to ignore laws and apply stated income loans to people who should not get them. 

Tuesday, May 21, 2013

Once Again a Natural Disaster Foils Republican Desire to Bury Obama

We all know what happened in the presidential election. Romney was trashing government and Obama. Then Hurricane Sandy came around and the President gave aid to the stricken states with what looked like the speed of light compared to Republican George W. Bush in the Katrina Fiasco.

Now the Republicans are hitting Obama again with Benghazi, the IRS "scandal", and the Fox News leaking "scandal". These were not sticking much with the American people anyway.

But now another natural disaster has come to a red state and Mr Obama has determined to shower the state of Oklahoma with federal aid.

The Republicans look, once again, as the obstructionist and useless political party that they are.

The IRS scandal is not much of a scandal anyway. The Tea Party was applying for tax exempt status and yet it was supplying a slate of candidates for the 2010 election. That doesn't look like tax exempt to me. There is an easy fix to the "scandal".

A thorough review of all these political operations, from Rove Crossroads to Move On, on both sides of the isle should be done. 

As far as the Benghazi scandal, it is pretty much proven that the administration was not linked to the delay in rescue of the foreign service personnel that died. Turns out that it could have been a covert CIA operation that Republicans would support. So much for that "scandal", though there is more to know.

But the talk of impeachment is outrageous. Obama voted against the war in Iraq. He has wound us out of war, slower than I would have liked.

The leak of information caused a Fox News reporter to be investigated. That "scandal" is perplexing because it is the Republicans who are always complaining about government leaks. So Obama wants to stop government leaks and it is a "scandal". I don't get it.

Let's remember one thing: the Republicans are determined to replace Democratic rule with a pro Israel government. Now, my natural father was Jewish and I am adopted.

But I don't support the risk of war in Iran. The economy is just too weak. Iran has not attacked anyone, despite inflamatory rhetoric, for 100's of years. And Iran seems to have backed off that rhetoric.

It may one day be in the national interest of the United States to make war with Iran. But it should be determined by those who put the national interest of the United States first, not the national interest of Israel first.

But with the Republicans, war has been a way of life since 2000. When I was contributing to Business Insider regularly I wrote about this fact about the Republicans. I hope you would all read these articles to see just what these political leaders have up their sleeves.

I do not trust the Republicans. For me, it is a question of a lesser of two evils in determining US political leadership. The Democrats are trying to reestablish their relevance to the real economy.

The Republicans want more of the same, more war, more economic advantage for the top 1 percent, etc. Is that what America really wants?

Please take a look at these BI articles I wrote that expose the Republicans agenda past and present. Please note that the Democrats are not without some responsibility for financial attacks upon the average Joe. But their war desires are far more restricted than the Republican love of war:

Romney's Missile Shield Is an Act of War Against Russia

Paul Ryan's Epic Rant Against Obama

The London Based Financial System Is the New Roman Empire

Mitt Romney and the Neocon Mind

The Republican Jewish Coalition Is Throwing Obama Under the Bus

As we can see, the tide of American politics turned from Republican triumph and certain war to a time of peace and Democrat rule. Neither party has done enough for main street, but the primary obstacle remains the Republicans. That is because they believe that financial prosperity will trickle down from the wealthy.

But now we know that the wealthy are skimming off the real economy with speculation in commodities, such as oil and food and building materials. Everything is more expensive than it should be based upon real demand.

We know that all markets are manipulated by the Fed, and it would be worse under the Republicans.

Republicans don't get the real wealth divide. They don't understand that we need an occasional wealth tax in order to remain solvent as a governmenta. Neither political party understands this and the MSM (main stream media) does not report on this concept:

CNBC Doesn't Get the Wealth Divide

Ultimately, the Republicans are much worse than the Democrats. They want to agitate the Russian Bear at the peril of WW3. They want to subject the American economy to possible severe distress for a war in Iran.

Some of them want the US government to stop helping out states like Oklahoma, and New York and Florida and California, when they have destructive natural disasters. We can't have the Republicans in charge as they have moved away from the center of politics and have become radicalized in a very bad way.

Thursday, May 16, 2013

Big Banks Get Break in Rules to Limit Risks - Yahoo! Finance

Big Banks Get Break in Rules to Limit Risks - Yahoo! Finance

Just remember, for the record, that the Republicans stopped the implementation of tough open trading of derivatives and want the banksters to trade in secret. The Republicans don't want trading of derivatives to be placed onto regulated trading platforms although that is still the goal. So, with their opposition as well as the turncoat Democrat ,Mark Wetjen, rules for the banks are weakened.

The problem is, the TBTF banks have a corner on these derivatives markets. Making fewer banks involved in getting a deal cuts out the other banks. The business is a rotten one anyway, but made more rotten by the fact that the TBTF banks, like Goldman Sachs and JP Morgan can overcharge for the derivatives that they sell. Companies who need loans are forced to take the high interest fixed side of the derivatives if they want the loans. And they are forced to pay more since only the TBTF banks control the market.

The TBTF banks have cornered the oil and food and building materials markets. They are still pushing prices in those commodities above what they should be.

Face it, if one man can corner the cocoa market, banks can corner the bigger commodity markets with ease,now that there is no regulation to stop them. And they corner the interest rate swaps markets as well!

Of course this cabal requires low interest rates and will likely get low interest rates and crappy growth for main street. What a scam against the average Joe!

As one fellow brilliantly commented on Business Insider:

I don't think the top .1 % really care about or need the middle class anymore. There is a global financial elite that has hoarded a huge percentage of the world's wealth. They have private health care, schools, transportation and security. National borders have become meaningless for them. They have much more in common with their financial equals in Moscow, Dubai, Tokyo or New York than they do with their own countrymen. I do believe this is some sort of endgame, where the elites will totally cut themselves off from the rest of this sorry world, stop paying taxes, renounce allegiance to any certain country, and live a global jet set lifestyle with their plundered wealth, while the rabble (that being you and me) try and survive in the hinterlands beyond the castle walls.

How Can I Get Out of Debt? - Yahoo! Finance

How Can I Get Out of Debt? - Yahoo! Finance

This is your typical losing Yahoo article about debt. It says pay your bills. Now, if you are in a multigenerational family, and plan to stay that way, you will have an easier time either 1. paying your bills or 2. walking away from your bills.

Credit scores are less and less important as time goes on for many folks. Many cities have lots of rentals where evictions are the  problem, not non payment of credit cards. Of course, if you play to borrow more or buy a house that is a problem. But why trust your fate to bankers who want to win and want you to lose if it is too their advantage. Be frugal, don't charge, and don't pay if family solvency is more important to you and your debt is large.

Don't be prisoners to the banks. Don't let the bankers tell you you are less than adult just because you aren't in debt to them!

Wednesday, May 15, 2013

Growing Up Will Help Economy...So Grow Up Already From Banksters

Growing Up Will Help Economy...So Grow Up Already

Don't be fooled, growing up means debt. Debt means profits for the banksters. After screwing the economy and making you young people cautious, they want you to be their slaves just like your parents were. Don't forget and don't fall for their insults. Larry Kudlow is a creep, and he has no control over your lives. Don't let him ever have control over your lives. He is a manipulative and evil human being who doesn't think being frugal is good.

Who the hell does he think he is?

Monday, May 13, 2013

QE Creates a Real Estate Scam

Because interest rates are so low, bankers do not lend long term to borrowers on the street. They lend to the rich and hedge funds who buy up the real estate with cash. QE allows the rich to get richer and the poor to get poorer.

The banker cabal must feed itself first, because there are dangerous derivatives. Otherwise, the banking system could unwind, throwing us into a massive depression. As it is, the depression is contained. It is a depression, that is the cycle is depression, but it is contained as the banks are made safe. It screws borrowers and savers, however.

The scam comes when the rich buy millions of houses cash, almost as many as are purchased by mortgages, and that drives the price of houses artificially higher. QE3 is the effort to get the bad mortgages of the banks off the books of the banks by artificially raising the prices of housing. The QE3 money doesn't go to house lending, but the banks feel stronger and then lend to the wealthy in order for them to buy the houses.

The scam comes in when these houses are artificially driven up in price, and borrowers are forced to make long term mortgages on houses that may not be safely priced. Housing, which should be priced as shelter, is priced as investment once again. That is a scam against MainStreet.

In order to offset this scam, this tax of higher housing prices, the borrowers should hold off and see if this all cash purchase swindle fails. Borrowers have the power to do this if they are not sucked in. If this bubble overheats, the hot money will leave anyway, leaving the average Joe with overpriced real estate.

Real estate, therefore, should NEVER be a part of QE. Never.

Saturday, May 11, 2013

When Interest Rates Rise by Martin Feldstein - Project Syndicate

When Interest Rates Rise by Martin Feldstein - Project Syndicate

Martin Feldstein is an economist. He is also connected to the most diabolical clubs in the world. You can see this from his biography, which was posted at NBER.ORG without a copyright. So it is posted in its entirety here:

Martin Feldstein is the George F. Baker Professor of Economics at Harvard University and President Emeritus of the National Bureau of Economic Research. He served as President and CEO of the NBER from 1977-82 and 1984-2008. He continues as a Research Associate of the NBER. The NBER is a private, nonprofit research organization that has specialized for more than 80 years in producing nonpartisan studies of the American economy.
From 1982 through 1984, Martin Feldstein was Chairman of the Council of Economic Advisers and President Reagan's chief economic adviser. He served as President of the American Economic Association in 2004. In 2006, President Bush appointed him to be a member of the President's Foreign Intelligence Advisory Board. In 2009, President Obama appointed him to be a member of the President's Economic Recovery Advisory Board.
Dr. Feldstein is a member of the American Philosophical Society, a Corresponding Fellow of the British Academy, a Fellow of the Econometric Society and a Fellow of the National Association of Business Economics. He is a Trustee of the Council on Foreign Relations and a member of the Trilateral Commission, the Group of 30, the American Academy of Arts and Sciences, and the Council of Academic Advisors of the American Enterprise Institute.
Dr. Feldstein has received honorary doctorates from several universities and is an Honorary Fellow of Nuffield College, Oxford. In 1977, he received the John Bates Clark Medal of the American Economic Association, a prize awarded every two years to the economist under the age of 40 who is judged to have made the greatest contribution to economic science. He is the author of more than 300 research articles in economics. Dr. Feldstein has been a director of several public corporations. He is also an economic adviser to several businesses and government organizations in the United States and abroad. He is a regular contributor to the Wall Street Journal and other publications. Martin Feldstein is a graduate of Harvard College and Oxford University. He was born in New York City in 1939. His wife, Kathleen, is also an economist. The Feldsteins have two married daughters.

So, here is a guy connected by the highest network, to the major financiers of the world, warning about higher interest rates coming. But as we have seen that is what bankers and their friends do. I listened to an interview with Brady Dougan of Credit Suisse and he said the same thing, get protection from the coming higher interest rates.

But why would banks sell protection for something that could destroy them if their prediction came true? It is quite simple really. They are lying about the coming higher interest rates. They know that they are in control of the interest rates, and demand for collateral for these swaps gives them a nearly foolproof business which suppresses those very rates they fear monger about. 

Surely Feldstein knows that interest rates can be controlled by demand for treasuries. And the demand can only grow as clearinghouses are popping up that will clear swaps trades and demand trillions more in pristine treasury bond collateral. That is the real gold, these days. And surely Feldstein knows this.

So the scam goes on, preach fear of higher interest rates and sell protection for the higher rates that never come. It is a scam that drains main street, and is built upon a lie.

It could be argued that this is a necessary lie. Now that the interest rate swaps exist en masse, the banks are forced to keep interest rates low or face a massive world financial meltdown. So the lie is now necessary unless somehow we could roll back the clock and do away with interest rate swaps.

These swaps are indeed weapons of mass destruction. But Buffet is no doubt taking the view that weapons of mass destruction makes mass war obsolete. That way, the swaps take risk out of banking, make lending to main street of little importance, or if the loans are made, forcing the borrowers to take a swap and the high interest fixed side of the trade.

Folks, this is a huge business. This is a massive fraud and lie that makes banking safer but main street suffer. Borrowers suffer. Big companies who do not want to be trapped in this keep huge cash reserves so they are unable to pay a fair wage. The growth of the developed nations slows to a crawl.

In the quest of making banking virutally risk free, the risk is then put upon the society to survive. And the rich get richer while everyone else stays the same or is in decline. Over many years this could destabilize society and lead to a destruction of these very banks. But for now, the weapons of mass destruction have given us a stability, at a very steep price for the real world and main street.

Surely Martin Feldstein knows all this. So one has to wonder if his articles warning about interest rate increases are just a blatant lying. Perhaps he will tell us the whole truth about his positions one day.

Friday, May 10, 2013

Business Insider is Starting to Disgust Me Thoroughly

Henry Blodget awhile back said that the banks did nothing criminal in the housing bubble crisis. He posted it in a comment section of one of the articles on BI.

It was wrong of him to do so. Things that should be criminal, like LIBOR rate manipulation and the new Interest Rate Swaps rate manipulation are just the tip of the iceberg.

Turns out, if you make a loan to a person and don't adequately establish that he can pay it back, it is against the law.  This law is called the Financial Institutional Reform, Recovery and Enforcement Act of 1989 (FIRREA). The law requires that banks lend to people who are able to pay the loans back.

But, the law was trampled in the subprime crisis, and it should be a criminal law. Henry Blodget surely knows that this law was ignored in the housing bubble precisely because there were no criminal penalties!

I repeat, there should be criminal penalties regarding that law instead of fines, which the big banks take as a slap on the wrist, without admitting criminality!

The system is rotten to the core, and Henry Blodget is rotten for his views of the system. Here Blodget, a man banned from Wall Street for life, has a chance to make things right. He has a podium at Business Insider and at Yahoo, to make the case against the bankers and make a case that their behavior is criminal.

After all, he was banned for far lesser crimes than have been made by the TBTF banks!

Yet he seems determined to protect the banks, and to play down scandal.

The banks already force companies to take the wrong side of the bet regarding interest rates. The companies, if they want loans, must take the higher fixed rate of the swap. This is not a choice, as they have no choice.

And now we know that LIBOR and the interest rate swaps rates themselves are being manipulated by the TBTF banks. And that is not criminal? How, Henry, is that not criminal? Are you sans conscience Henry?

Apparently so. You constantly write articles regarding how big business should pay workers more, and how big business like Walmart and the others should help in the recovery on main street. But it is clear to me that the really big companies want no part of this Wall Street conspiracy to control lending and profit off of bogus derivatives forced upon lesser companies.

In other words, these big companies need a boatload of cash in order to stay free of Wall Street. It is Wall Street, Henry, that is forcing big companies to pay less to workers and have strong cash positions.

So your articles as some self styled crusader against corporate bad behavior is just a joke. You refuse to get to the core reason for why corporations exhibit bad behavior. The core reason is they don't want to deal with the big banks in the UK and US. I introduced Matt Taibi's article to this blog here.

The article condemns the big banks for their collusion and extraction of tribute from corporate America. The article condemns the manipulation of what is already a filthy requirement that businesses take the bad side of swaps if they want a loan. I wrote about that too.

So, it is everywhere that you turn that the big banks are manipulating markets and making loans that are dreadful to the borrowers, and main street just suffers the fraud associated with these bad loans.

The bad lending rottenness is like a beat that keeps on going on. The new financial order is predatory. Matt Taibi now understands that this cabal is predatory and dominant. And it is why we cannot have a strong recovery on main street.

Starting with Thatcherism, deregulation and the establishment of derivatives swaps gone wild have been a plague upon the American dream. These swaps forcing tribute to the big banks are UnAmerican!

Add to all this the commodity speculation that we who buy gas and food experience, and the financial fleecing of America seems to know no bounds. Add to this threats for a cashless society and the Cyprus theft of savings accounts and we can see the financial order vice is squeezing America and the world, with more force than the most criminal mafia could do.

And Henry Blodget doesn't seem to give a damn about any of it. Prove me wrong Henry. You are a young man. Make it right!

See also: Is Marty Feldstein Lying about the Coming High Interest Rates?

The Biggest Price-Fixing Scandal Ever | Politics News | Rolling Stone

The Biggest Price-Fixing Scandal Ever | Politics News | Rolling Stone

As people know, I have been writing about the evils of interest rate swaps being forced upon business borrowers to protect against an inflation that will never come because of the swaps. This circular system increases the costs of doing business on main street. It creates demand for treasuries, as collaters, meaning that interest rates are locked in at low levels for a long time. This robs citizens of a fair return on their money.

The hollowing out of main street is made even worse by bank fraud, libor scandals, and anything that can push the interest rates down. This hurts the position of the borrowing companies, who have to take the high fixed interest rate side of the swap.

Well, now, Matt Taibi is saying that there is another scam associated with interest rate swaps. This scam affects the price of the interest rate swaps themselves. This scam is the manipulation of  ISDAfix, which is the benchmark number for pricing the swaps.

The same players accused of LIBOR fixing are now accused of interest rate swaps fixing. They are Barclays, UBS, Bank of America, JP Morgan, and the Royal Bank of Scotland. These banks have earned a reputation for their attacks upon main street with toxic loans and the rest. These bad boys, with the help of the Fed and central banks, pretty much control finance and thus control the world.

Anyway, read Taibi's article. The courts are on the side of the banks. The governments and businesses who are being screwed by these big banks should just walk away from the toxic loans en masse. At least that is my personal opinion. We are all paying by having crucial services cut so the banks can exact tribute from private companies and local government.

And many have called this state of affairs mass criminality.

Thursday, May 9, 2013

Investing In Bitcoin - Business Insider

Investing In Bitcoin - Business Insider

 Henry likes Bitcoin. I think it is unAmerican:

 It is my view that any cashless society is for the purpose of the bankers controlling all digital dollars. It is dangerous and unamerican. I don't agree with Ron Paul on much, but I totally agree with him on this, bitcoin can't put cash in your pocket.

So I posted this response to Henry in the comment section:

But there are many places cash transactions are necessary. We all know the bankers want a cashless society so they can control all the money. As bad as Cyprus was, it would have been a whole lot worse if you couldn't pull any cash out. Or did you forget that. Did you not hear that Bernanke said it was unlikely Cyprus would happen here, which means it could happen here? Notice he didn't say it could not happen here?

But we learned from Ellen Brown that the money you put in your bank is not yours. Did you know it is a loan to the bank and technically belongs to the bank and not you?

Does that reassure you? :)
Anyway, I think it is not the American way to have your money forced on loan to a bank. The real question is whether bitcoin is deposited in a bank or if it is separate from a bank and free from the powers of confiscation that banks have over dollars.

It would only be better than dollars if it were free from confiscation and I don't know how that would be certain.

Monday, May 6, 2013

Hedge Fund Obtains $2.1 B Loan to Buy SFRs – Investors Pay Attention!

Hedge Fund Obtains $2.1 B Loan to Buy SFRs – Investors Pay Attention!

Here is crucial information on what I call the Blackstone Housing Bubble. This is an artificial bubble that will not be sustainable without easy money loans. These houses are being rented and they want to sell in 3-5 years, according to some inside information I have. 

They want to put all the little guys out of business by allowing less of a deposit even though they are not cutting the rents that much. 

Friday, May 3, 2013

Libor Blamed On Wild London Culture - Business Insider

Libor Blamed On Wild London Culture - Business Insider 

Business Insider and the US press is following the LIBOR scandal, but apparently is not following the interest rate swap scandal in the UK.

But the UK press is and I wrote this article about it (see link above). Time for US companies to settle Interest Rate Swap deals too. The interest rate swap scandal is more damning, more revealing and more costly to the banks in the long run. They are related, as the LIBOR scandal made more money for the swaps business.

The Swaps scandal has to do with excessive profits off of interest rate declines as the Fed kept chopping interest rates, making the swaps even more lucrative for the banks. This justice should be applied to US banks too, as small and medium businesses and local government really got screwed by these swaps.