Posts Tagged Wall Street
America, Please Wake Up! ~ Conclusion
Posted by Harley in The Economy on January 4, 2010
During the ABC network special on 22 December, President Obama was asked if he and his family would give up their current health care program and join his new health care reform program that the rest of us would be forced to be on. Obama ignored the question. A number of senators have been asked the same question and the only response was they’d think about it. Yet on 23 December, it was announced that the “Kennedy Health Care Bill” was written into the new health care reform ensuring that congress would be 100% exempt!
Whatever happened to the 28th amendment of our Constitution which says “Congress shall make no law that applies to the citizens of the United States that does not apply equally to the Senators or Representatives, and Congress shall make no law that applies to the Senators or Representatives that does not apply equally to the citizens of the United States.”
So, this great government health care “reform” is good for us lowly citizens while the Washington elitists keep their gold plated health plan that none of us can match! This is the height of all arrogance and hypocrisy as Obama and Congress ram this idiotic health care bill and higher taxes down our throats. I can only accept universal health care if it extends to everyone! Adding insult to injury, you watch, all federal workers will most likely be exempt from this monstrosity as well thereby further ridiculing and alienating the American “slave”. We must stop this debacle as soon as possible!
Also, have you noticed the buried sections (1109 & 1604) in the Obama administration’s mammoth Wall Street “reform” bill? In essence, these provisions will let the executive branch enact even bigger, more unregulated bailouts than ever with no oversight or executive compensation constraints, but only to the behemoths of Wall Street (who make the biggest campaign contributions). If this isn’t bad enough, there would be no limit to the Secretary of Treasury’s check-writing authority (TARP limited him to 2 years and $700B). My suspicious mind tells me that this is in preparation for the eventual fallout of over $600T of bad derivatives that will hit Wall Street. Talk about socialism?
If you know your American history, the above should not surprise you. The Federal Reserve System created in 1913 a national cartel dominated by the largest banks (that now include the behemoths of Wall Street). The primary objective of that cartel was to involve the federal government as an agent for shifting the inevitable losses from the owners of those banks to the taxpayers and that is exactly what is happening today and will continue if that “Wall Street Reform” bill passes. The reason for this is because government regulations are designed and created by the very businesses that are being regulated. That’s why all the big multi-national corporations never suffer and every adverse financial consequence is shifted to the free enterprise system where small business creates at minimum 7 out of every 10 jobs.
Let me tell you where this runaway push to socialism will get us – a “national” Detroit! For 50 years, Detroit has been the leftist socialists’ model of policy. Overrun by leftist mayors for 50 years who cater to the UAW and Teachers Union has produced unemployment of 20%, an average home price of $5700, and high school graduates representing only 25% of their class in spite of Detroit spending supposedly $11000 per student when, in fact, the money stays at the top bureaucratic levels thanks to the Teachers Union. This entire entitlement mentality has produced a better chance of a high schooled kid going to prison than graduating. The city has literally been brought to their knees by socialistic government policies, unions, bailouts and entitlements. Do you want that for the rest of America?
Only one good thing will come out of this mess for those people who are financially well informed, who know how money operates and therefore know where and when to invest. The other Great Depression produced more millionaires than at any time in our history; this one will too! In fact, it will produce the greatest wealth transfer this country has ever seen (this has nothing to do with baby boomers dying off). In spite of the fact that most Americans suffer from a deplorable lack of practical financial education and knowledge because it is not taught in our schools including masters’ degrees in business and finance, I just hope you know how to grab your share.
The Catastrophic End of Market Manipulation
Posted by Harley in The Economy on December 1, 2009
“The following article is a must read. It backs up everything I have posted to this blog all year long! It’s imperative you understand how money is created and works in this country, as it is the most positive indicator of how and where you should invest your money. I realize most people are paralyzed and therefore do nothing. INSTEAD OF FOLLOWING THE CROWD BY DOING NOTHING, READ MY FREE REPORT “DISCOVER THE HIDDEN FORTUNE IN THIS ECONOMY“ - learn how you can become your own confident, competent, and trusted financial advisor while you still have time to participate in the greatest transfer of wealth this country has ever seen. You’ll be glad you did!”
The Catastrophic End of Market Manipulation
By Bix Weir
On March 9, 2009 the Dow Jones Industrial Average hit its lowest point in this “Economic Downturn” touching 6,440 with no viable economic reason to expect a turn around in the economy or in the markets. The mood of the investing public was dire.
Over the next 3 days I notice some extreme market manipulation moves by the Obama Administration that I theorized was part of an official operation to manipulate the economy higher without any underlying fundamentals to support a rise.
On March 12, 2009 I published a Road to Roota letter in which I highlighted 10 things the Obama Economic team was doing to try to fool the investing public in thinking that the recession was ending. That article can be found here:
Three weeks later I wrote another article stating that this was no ordinary con job by the administration but a large scale and prolonged market manipulation plan executed on many fronts and including many government and public participants. That article can be found here:
The Geithner Plan = Sustained Market Manipulation
Since these articles were written the DJIA has risen from a low of 6,440 to 10,300 with shouts heard far and wide that the recession is over and we survived the worst economic downturn since the great depression. Meanwhile the unemployment rate has blown over 10%, the residential housing markets are still in major distress, the commercial real estate markets are imploding, the derivative markets continue to balloon and the middle class of America is being systematically beaten about the head such that one day they will be declared officially DEAD. Death by market manipulation. Death at the hands of our caretakers.
Now, 8 months later, we are saddled with markets so distorted and twisted that nobody knows where the “equilibrium price” of anything is any more. Stocks are too high. The USD is too high. Oil is too high. Gold is WAY too low and Silver is practically FREE! What’s going to happen when they stop pulling the leavers and prices find their natural supply/demand equilibrium? One thing is for sure… someone’s going to get a serious case of WHIPLASH when this manipulation ends!
So who has benefitted from the Obama Administration’s “Operation Confidence Con”?
You guessed it…THE BANKS THAT CARRIED OUT THE BRILLIANT PLAN!
Market manipulation is very easy to implement with computer trading programs that execute millions of transactions back and forth in a matter of seconds steering markets wherever the programmer points his mouse. With no market oversight from the SEC or CFTC and an unlimited checkbook at the Federal Reserve the power to rig markets with computers is awesome.
To understand the full scope of manipulation funds available to Obama’s economic team it helps to understand how much money the government/FED has pledged in its various programs…many people believe it was only the $700B TARP funds but according to the FDIC the number is closer to $14 TRILLION as of 1st quarter 2009:
A Year in Bank Supervision: 2008 and a few of it’s Lessons
The real fraud here lies within the insider trading and “front running” of all this money at the point of execution for the huge market orders. The New York Federal Reserve executes these trades through their banking cabal conspirators called “Primary Dealers”. By knowing the FED moves ahead of time and actually making the trades for the FED these insider banks have massively goosed their profits. Watch Alan Grayson accuse the General Council of the Federal Reserve of the illegal practice point blank.
Rep. Alan Grayson: “Has the Federal Reserve Ever Tried to Manipulate the Stock Market?”
Note the list of Primary Dealers from the New York FED and you will understand who these market manipulators are:
This list is a “Who’s Who” of banks that went from the brink of collapse only 1 year ago to making outrageous profits this year at the expense of the rest of us “unwashed masses”. The majority of the large gains were categorized as “trading profits” in their rigged casino.
Just look at the stock prices of some of these banks from trough to peak over the term of this official manipulation:
Bank of America $2.53 – $19.10 increase of + 755%
Goldman Sachs $59.13 – $193.60 increase of + 327%
JP Morgan $14.96 – $47.47 increase of + 317%
Citigroup $0.97 – $9.00 increase of + 928%
This would be bad enough if they only posted stock gains from our sorrow but the Banksters are now CASHING OUT of their stock ownership positions before these manipulated prices come crashing down!
Just look at the November “Insider Transactions” for the King of the Obama Administration insiders…Goldman Sachs.
http://finance.yahoo.com/q/it?s=GS
Not only that but Goldman is planning to payout $23B in individual bonuses this year!
http://www.huffingtonpost.com/2009/10/13/goldman-sachs-bonuses-col_n_318196.html
The only question left is will these criminals get one last monster bonus check before they collapse the system? If they do get their final payout I guarantee you the majority of them will run to buy gold and silver bars before the fraud is revealed! These banks must be stopped in their tracks before bonus are paid.
CONCLUSION
This year we have witnessed first hand the problem with planned economies and free market manipulation. Tim Geithner, Lawrence Summers and Austan Goolsbee have tried to inflate a contracting economy by using massive manipulation and deception across all markets and have failed miserably. What they have done is further transferred the wealth of our nation from the poor and middle class to the rich bankers that caused the mess in the first place. What they will see very soon is the “blowback” from their market manipulation project with the total destruction of our global economic system.
The Obama Administration Economic Team should be tried in court by a “jury of their peers” for the high crimes of Free Market Manipulation and may god have mercy on their souls.
Do me a favor if you are reading this… Go to your local coin shop and buy as much gold and silver as you can carry because there is only one way for this massive market manipulation operation to end….BADLY!
May the Road you choose be the Right Road.
Bix Weir
Link to original article: http://news.goldseek.com/GoldSeek/1259617704.php
Why A Financial Education Is Necessary Today
Posted by Harley in Financial Education on November 11, 2009
It’s very important to place the need for a financial education today in perspective so people understand and appreciate the conditions most of them, knowingly or unknowingly, are dealing with as they try to accumulate wealth in our financial system. Hopefully, the events of last year’s market crash and the ensuing bailouts have shown the public how the consumers are repeatedly screwed by the Wall Street, political and regulatory elites, better known as the 3 ring circus.
In truth, this 3 ring circus is only interested in their corrupted ability to manipulate the system to line their own pockets and give them more power. They could care less about the public they are supposed to serve.
Nothing illustrates this point more dramatically than our present worldwide financial debacle and recession caused by the 3 ring circus and yet they are the major recipients of the TARP bailout money, not us the taxpayer. In both directions, they’ve made billions & everyone else lost big time.
Look back in history, our country’s financial debacles have always been caused by the 3 ring circus but the public’s losses in 2008 were so huge – trillions of dollars – that this time, they destroyed the trust and integrity so vital to the financial service industry. There is no doubt that a hands-on practical financial education is necessary and a better way to insure against such massive losses in the future due to one amazing fact.
When you combine the constant corruption and self dealing of the 3 ring circus with most people’s deplorable lack of a practical hands on financial knowledge and education, it makes the public highly susceptible to the continual bad advice and poor performance of the big Wall Street firms and most financial planners (who are nothing more than glorified salespeople) with their hidden agendas, conflicts of interest, self-dealing and high fees designed to line their pockets and not yours. Only now are people finally realizing this and firing their financial advisors in droves while searching for a better alternative.
Well, a practical, hands-on financial education is certainly a better alternative and a cleaner, more cost effective way for the consumer to become money and investment smart. Nothing is comparable to this type of education as it instills the confidence and knowledge to take control of one’s finances thereby preventing the consumer from being taken advantage of by the Wall Street boys and most financial planners with their hidden agendas.
Such a financial education should provide its students a reliable source to receive the necessary financial education and knowledge, from the most elementary to the most sophisticated, which allows them to control their finances, get out of debt as quickly as possible, and become money and investment smart. This financial education should further allow a student to know how to constructively use experts in every area of financial planning from the legal, tax, business, asset protection and investment arenas. This should then be done totally free of the high fees, middlemen, conflicts of interest and self dealing so prevalent in the financial service industry today. A financial education student should be so armed to be able to determine that he or she is in fact going direct for any one of these services.
Most investors have a “fellow the herd” investment mentality and have been perfectly content depending naively upon Wall Street to be responsive to their needs. Even many multi-millionaires have been guilty of the same mentality but are now actively seeking advanced financial education and investment avenues so they can be first in strategic investment opportunities. On the other hand, many less well off individuals drowning in debt are seeking the necessary financial education to help them be debt free in less than 15 years, including their mortgage. Therefore, these needs must be addressed by any well thought out financial education curriculum. Heaven knows the type of financial education curriculum this article has been addressing is long overdue.
The Foolishness of Most 401(k) Plans
Posted by Harley in Managing Your Money on November 2, 2009
The Foolishness of Most 401(k) Plans – Unfortunately, most 401(k) plans only allow investments in mutual funds whose high administrative fees eat into the returns of the participants. This fact increases the likelihood of loss as most investors chased performance versus being strategic investors. Case in point, Peter Lynch the famed money manager of one of the best performing mutual funds (The Magellan Fund) from 1970-1990 documented that most investors in the Magellan Fund lost money because they never stuck with it and were constantly chasing performance. Therefore, until employers can structure their 401(k) Plans for employees with much more flexibility and not just more mutual funds, the likelihood is that most employees are going to suffer further losses in their 401(k) plans if they remain in the broad overall market that is presently being manipulated by the Wall Street elites with all the government stimulus money. The market has only recaptured about half of what it lost in 2008 and just like the 30s is going to take a dive perhaps worse than it did in 2008. Consequently, to take advantage of this prolonged recession with many more financial surprises on the horizon, the general population better learn how to be strategic investors.
Financial Confidence Ebbing for the General Population
Posted by Harley in Financial Education on October 26, 2009
Financial Confidence Ebbing for the General Population – That AARP survey called “A Closer Look” I’ve mentioned in the last two blog posts really only concerned itself with those ages 45-64. The truth is that the financial confidence of the general population has really been knocked on their butt. The fact is the Wall Street, political, and regulatory elites have really destroyed the trust and integrity so vital to the financial service industry. Yet not one of them has gone to jail and instead have been the major recipients of the TARP money (our money). This corruption never stops. If the general population is ever going to get their financial confidence back, they better become investment and money smart and get the financial education required to take control of their own finances. If they can obtain the right financial education, they will be able to take advantage of this financial debacle and recession that is being prolonged (just like the 30’s) by foolish government stimulus programs. Remember, more millionaires were created in the Great Depression than at any other time in the history of the United States. And that same opportunity is existing right now again! Will you be able to take advantage of it?
