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Another hush hush tax you don’t even know about:
How really safe are the banks?
Recently, JP Morgan announced that they had a $2 billion loss in derivatives. Following is an excerpt from Greg Hunter of http://www.USAWatchdog.com:
The only way JP Morgan could “bring down the entire space” is if the entire space was leveraged in ways similar to JP Morgan. Of course, no U.S. bank has more derivative exposure than JP Morgan.
According to the Comptroller of the Currency, JP Morgan has a little more than $70 trillion in total derivative exposure. (4th quarter 2011 OCC report) The next 4 banks have a combined $150 trillion (approximate) in total derivative exposure. I am sure the banks will tell you that this is all hedged (bilaterally netted) to minimize any losses, but we all know how well that strategy worked with AIG, Lehman and MF Global.
In this topic on 05/11/2012, a good friend of the mine commented on the new beginnings of a Sierra Nevada mine. I know the history of this mine well and wish its operators great successes. Martin’s observation, however, is why I am writing. Much of media is purchased, especially by start-up gold mines. I bet that this operation will have a good relationship with the local media, as does the Sixteen to One. It is never a problem for the Sixteen to One mine to get coverage in local papers, which include the Sacramento area.
Origsix owns a mine and is operating its mine according to the available resources (money). It truly knows how to operate both with and without money, having sustained itself for over 100 years. It has not diluted its current owners when money is in short supply to survive. Money is directly related to the mining of gold (many junior and some major gold companies find their money from the public or others and sell their gold forward of production).
Our operation suffers not because it is not mining due to permits but because of lawsuits and the perception that these lawsuits have merit. The lawsuits scared people, people who lacked the moxie to even conduct a due diligence enquire. The CDAA criminal case was pure bunk! Anyone who spent any time reviewing the law and the facts surrounding it knew it to be bunk. The recent SMARA lawsuit was just a pain in the butt! Time and money and the real hardship it created for our future prompted me to give in to their extortion. (History, the law and the facts were also on our side), which brings us to the last remaining legal issue: California’s irresponsible water board and its staff.
Nothing should stop competent, serious and well-funded adventurers from checking out our plans for increasing mining and building this company. Now, since we are just a bunch, a small bunch of friends looking at the FORUM, I tell you this: If my moxie were grander, I would complete our due diligence regarding the remaining lawsuit advocated by the Central Valley Regional Water Control Board and file a lawsuit with eight causes of action, seeking damages for its unlawful conduct.
Let’s hope that someone in state government, be it the Governor’s office, the water regulators or the legislative politicians finally conducts their due diligence and approaches the litigants with a responsible settlement outline.
When the bankers pushed to get their hands back on investor’s money by getting Clinton to sign off on dismandling the Glass Steagall Act it set the stage for unbridled banker greed.
An excerpt from the today’s Casey’s Dispatch:
“Yesterday, after the market close, JPMorgan announced that a series of synthetic credit trades done by its Chief Investment Office had gone terribly wrong and caused a $2 billion loss.
A “synthetic” trade is another name for a derivative trade, most likely some type of credit default swap. The bank claims that this Chief Investment Office’s job is to hedge the bank’s overall credit exposures, but that can’t be all that it was doing. This office had to be making huge bets on the market in what is nothing more or less than a form of proprietary trading.”
This is not what banks were chartered to do.
John Corsine at MF Global decided to take a big position on sovereign debt using margin and took a bath. When it was time to caught up the money for his losses he took customer money that was entrusted to him and gave it to JP Morgan to cover those losses.
New York City is a cesspool of bankers fiddling with public markets and financial corruption.
The president of Sutter Gold lives in my town and is also on the Board of Directors of Agnico-Eagle Mines out of Toronto. The next time I see her at Safeway I’ll ask her how she gets along with the State.
Recently a mine operation in
Amador county has “commenced”
operation according to the local
Sacramento Media. It would appear
that company either has a good
repor with local media or has hired a dandy publicist. I think
the Origsix might want to take
note. The Amador Mine gets to
MINE, the Origsix doesn’t. I
wonder why?Warren Buffett, in a recent interview with CNBC, suggested that he could balance the budget right away.
He said: “I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election.”
And…we won’t hear that reported in the “news” any more than we won’t hear it reported that the Bam proposed “Buffet Rule” has been widely slammed by Mr. Buffet himself, which he is on record as mischaracterizing his true perspective of taxation increase reaching the extemely etreme rich for whom 100 mill is the launch point.
Yup. No mention of Buffet’s remarks in the “media” except those reporting in reality mode….which summarily get dismissed by the clones.
Below is an excerpt from today’s International Forecaster.
Government’s attempts to control the people by directly manipulating economic indicators parallel Pavlov’s conditioning of dogs. Pavlov started by ringing a bell whenever his dogs were fed. At first, the dogs only salivated when the actual food was provided. But later, after the dogs had become “conditioned” to “pair” (associate) the presence of food with the ringing bell, the dogs could be made to salivate by merely ringing the bell, even when no actual food was provided.
For the dogs, the ringing bell was an “indicator” similar to the thermometers in our apartments(Do you really control the room temperature by artificialy stimulating the thermometer?) or the government’s reports of GDP, inflation, unemployment and prices. Just as Pavlov’s dogs were conditioned to salivate at the sound of a ringing bell, Americans have been conditioned to borrow and spend currency to purchase cars, homes, equities and commodities (or even to have confidence in the gov-co) by “ringing the bells” called “stock market indices,” “unemployment percentages,” “inflation rates” and “prices”.
From http://www.jsmineset.com:
Jim,
Except for the Social Security Trust Fund, the Fed is now the largest holder of Treasury debt.
QE is the only way left to sell the debt. So how can they stop doing it?
Best,
CIGA HankHank,
Once you have started QE in a recession lacking an ebullient economic recovery, you cannot stop QE. It is impractical as the house of trillions of cards will come tumbling down the same day you really stop.
Jim
The Primary Owners of the Federal Reserve Bank Are:
Submitted by truth supporter on Sat, 01/03/2009 – 14:07
in Daily Paul Liberty Forum“The Primary Owners of the Federal Reserve Bank Are:
1. Rothschild’s of London and Berlin
2. Lazard Brothers of Paris
3. Israel Moses Seaf of Italy
4. Kuhn, Loeb & Co. of Germany and New York
5. Warburg & Company of Hamburg, Germany
6. Lehman Brothers of New York
7. Goldman, Sachs of New York
8. Rockefeller Brothers of New York
All the primary owners are branches of European establishments. Foreigners control the United States Money supply.
The sure way to start the implosion of a civilization is to “deep six” the Rule of Law. Martin Armstrong elaborates:
http://www.martinarmstrong.org/files/Rule%20of%20Law/index.htm
The answer to productivity is to repeat what has worked before. Just past midway of the following linked video of the April 22, 2012 Schiff Report it starts to get quite interesting:
http://www.europac.net/media/video_blog/stimulus_high_fading_dollar_gold_history_according_obama
The Bankster Gangsters Continue To Maul The Public
The following short linked video clearly spells out how the European leaders are becoming quite emboldened from their continuing failures that they are now legally excluding themselves from taking any responsinility for their misguided and awful decisions.
Richard Russell recently made these comments:
“If the government does not supply any additional stimulus, but it does supply additional massive QE’s, this will be a long, drawn-out situation, probably not becoming toxic until the years 2015 to 2017. This period will ultimately see pressure on the dollar with an accompanying collapse of stocks and bonds.
Start by buying top-grade dividend-paying stocks — and gold on dips or corrections, and hold your gold. This era will see the catastrophic collapse of all fiat money. Gold should skyrocket. Get ready for crime and violence.
If the government does provide a large round of stimulus … (we) will see the end of fiat money and probably a new monetary system and a new governmental system. Europe and Asia will both go through chaos. Immigration to the US will be huge.
Is California next in line?
Surprise! You owe another $54 billion
A new report forces the question: How could Illinois pols do this to taxpayers
April 8, 2012“Previous legislators and previous governors even awarded taxpayer funded health insurance benefits to themselves and 82,000 retirees, where 90 percent of them pay nothing on their insurance premiums. This lack of fiscal accountability has cost us dearly today.”
—Gov. Pat Quinn, Feb. 22, 2012“All told, state government is on pace to spend nearly $1 billion on retiree health care benefits in fiscal year 2013, more than double what it spent in 2003. Worse yet, these liabilities are growing more than twice as fast as tax revenues.”
—Illinois Policy Institute, April 9, 2012The state of Illinois admits to $83 billion in pension underfunding, a staggering weight on today’s and tomorrow’s taxpayers. Add to that the as yet uncalculated billions in unfunded pension obligations for city, county and other local governments. During a Tribune forum Wednesday, Mayor Rahm Emanuel explained how that overhang — some estimates run far higher — deters businesses from locating in Chicago: Companies don’t want to buy shares in a phenomenal tax burden that will unfold over decades.
“Big government California lusts after increased tax revenues to continue its unquenchable appetite (addiction?) to redistribute wealth by confiscating it from groups that create jobs and contributes to society and giving it away to those who contribute nothing…”
DirtClod Sac Bee website 6/30/11
“It’s just one big party down in DC.”
Martin Armstrong
http://www.safehaven.com/article/24880/martin-armstrong-on-the-sovereign-debt-crisis
State pensions may be susceptible to reality during bankruptcy. A family member cashed out of Calpers in January of 1999 and went into gold and gold related issues. To me, that was a no brainer.
The IMF, the World Bank and the Bank for International Settlements may never be the same again.
Brics Nations eye joint bank setup to rival western-run money monster.
SUTTER GOLD MINING RECEIVES MILL BUILDING PERMIT ON THE LINCOLN PROJECT, CALIFORNIA
Sutter Gold Mining Inc. has received the building permit to construct the new mill complex at its Lincoln mine project in the heart of California’s Mother Lode gold belt. The Amador County Building Department issued the key permit on March 1, 2012.
“This is a critical milestone for our company,” said Dr. Leanne Baker, president and chief executive officer of Sutter. “Our site is completely winterized, our mine safety and health administration training program is in place, and we intend to begin excavation work for the foundation in the next several weeks. As the mill foundation/building construction proceeds through the summer and fall of 2012, we plan to work concurrently to prepare and develop the underground stopes for mining.” Sutter’s Lincoln project, upon completion, will represent the first commercial underground gold mining operation on the historic Mother Lode in more than 50 years.
Check out this wonderfully done video concerning your money and freedom.
Thanks, Martin
I have been told that the first
use of the”Injunction”ever, dealt
with debris from “Hydraulic” Mines
It was Woodruff v. North Bloom-
field. I believe it may have gone
all the way to the Supreme Court.I think that the Pafific Legal
Foundation attys in Sacramento
should be consulted regarding the
challenges faced by Origsix.I heard this morning over the
Bob Sims outdoor show that in the
Lassen Nat. Park/Forest water-
monitoring is being required of
the U.S. Forest Service but they
dragging their “feet” and doing
nothing to comply with the Water
Board requirement and they are of
course not being sued/fine like
the Origsix.Yes, I know of some people who
are already considering such a
move against TRPA, tahoe Regional
Planning Agency on similar issues.Yes, I know of some people who
are already considering such a
move against TRPA, tahoe Regional
Planning Agency on similar issues.From jsmineset.com:
“Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it.”
–Mark Twain
It sounds like Mr. Marshall is in contempt of the court ordered resolution.
I think that some thing might help the mine would be a review of the geological survey and probability of reserves by a Qualified person, Geologist, in accordance to NI 43-101. This then would reduce any preceived risk for investors.
Please be specific about who is dangerous.
Their oath is to defend the Constitution and the Bill of Rights, not some appointed agency holding a bogus book of rules and regulations.
Listen to Sheriff Richard Mack of Arizona generally spell it out.
A landmark decision yesterday from the US Supreme Court spells hope for private sector survival against thug-boot out-of-control government cronies.
The Pacific Legal Foundation, in gratis, represented a family, Sackett, against the EPA’s assertions, fines, decrees and complete fraud that without an avenue to defend against them, the Sacketts would owe hundreds of thousands of dollars for encroaching upon their own property…yes, due to a winter-time puddle that the EPA suggested (without any study) was a “wetland.”
Up steps the Pacific Legal Foundation, who for the last five years fought on behalf of the Sacketts’ Constitutional right to defend themselves in court.
Sound familiar???
The five year legal journey took them through appeals, eventually through the Ninth Circus Court…who naturally sided with the EPA.
Yet, the Pacific Legal Foundation fought on, and the US Supreme Court agreed to hear their case: in a 9-0 ruling (!) the Sacketts have been granted their Constitutional right to defend against non-elected self-regulated out-of-control government regulation.
We recognize the Original Sixteen to One Mine is fighting a similar battle. This decision has parallel and far-reaching potential toward putting the current legal issues behind us. Depsite the differences in the subject of the cases(EPA vs private property non-wetland; CA Water Board’s assault vs Original Sixteen to One’s survival), the link is stark: non-elected government authority does NOT have the authority to simply levy fines and decrees against private entities without their ability to fight back, without their Constitutional right to defend in court against whatever allegations are pushed down our throats.
I strongly suggest everyone google “Pacific Legal Foundation Sackett” and read for yourselves.
I also strongly suggest that our mine contact the Pacific Legal Foundation for any possible help….although I suspect Mike’s already on it.
“Neither Republican nor Democratic today seems to have any interest in being a statesman for that requires looking beyond personal interest, and looking into the eyes of fate herself, and realizing it is his country he must save, often from himself.”
Martin Armstrong
The guy is dangerous.
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