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This a very important agency of the past: the O.M.E and should be reinstated. It sounds like a government organization needed again for the development of strategic metals relative to our national security. We have a national reserve for oil, but gold is too needed to be expanded in a national reserve.
There has been some reports about how the Bullion reserves of Canada are being depleted. It makes me wonder our own Nations Reserve.in reply to: Gold Enters Major Bull Market #4218Last on gold is $1135.30.
We are in the midst of threatening history in the making . In order to deal with negative changes that are coming down the pike people need to concentrate on educating themselves more so than ever because their future is at stake.
The following are important sources for the learning process to begin in earnest.
Listen to Charley Jones interviews with east Texas Mike. Rebroadcasts of Sunday night interviews at 10:07 PM Pacific Time are available on demand.
2- http://www.kingworldnews.com
Listen, especially, to Eric King’s recent interview with Jim Rickards along with other informative interviews that are available.
3- http://www.martinarmstrong.org
You want the truth? This is where it begins. As an example, Mr. Armstrong recently told me that, “creativity is different than IQ. A lot more people are creative than many suspect. Einstein, Mark Twain, even Bill Gates, were creative. Schools don’t recognize what really matters. The Fed Reserve has more PHD’s than anyplace but they can’t tie their shoes and talk at the same time. There is no spark.”
The sad fact is we lack genuine leadership. Congress is a real mess with few taking their responsibilities seriously.
Search Gerald Celente, Jim Rogers, Peter Schiff and Max Keiser.
As Bob Dylan sang, “Times they are a changing.”
in reply to: Gold Enters Major Bull Market #4217Gold closed out the week on a weak note at $1136.80. The propaganda machine started up last Monday while almost all senior gold shares were right up against their individual chart resistance areas. The miscreants couldn’t have picked a better spot to start up their short term ambitions again.
Then on Friday came the news of the SEC’s fraud charges being lodged against Goldman Sachs for their inappropriate dealing with CDO’s. The spin doctors started telling the news outlets that this event was gold negative which it wasn’t.
It’s suspected that next week will bare a softer tone in gold, silver and related shares. I stand ready to add to positions on any follow through from last week.
We’ll have to wait a week or so for expert opinion from Martin Armstrong concerning the Goldman Sachs charges. This is mentioned for the reason that Goldman along with Morgan market the governments debt and are their pet bullion banks in attempting to keep a lid on gold.
in reply to: From the Sixteen to One Archives #4216For you readers, something from the historical archives:
When the miners’ operation turned from gold production to survival at the Sixteen to One after the disruptive shaft fire, all management united to prolong the hunt for gold. For the underground crew and its surface support, the mine’s gold was their livelihood. For the owners and management preserving the mine became the highest priority.
This began late 1950’s. Gold could be found, that was not the problem. All concerns and hope for the future rested in its price per ounce. By now the 1934 freeze and federal takeover caused operations to cease throughout the world; but California felt the slow decline of its gold economy less than other states. Aerospace was booming and real estate development and new home construction intensified as the population crept towards that of the most populace state.
An obscure federal agency saw the merit in the United States as a gold producer. It was the OME (Office of Mineral Exploration. Money was available to match development and the sixteen to One was a taker. I became intimately familiar with the OME work, which ended in 1965. It was ten years after the fact, but its history was as valuable as it is important today. Original Sixteen to One Mine, Inc and the OME joined financially to continue exploration of the central Sixteen to One vein. It is referred to as Red Star and has been my target for gold since I first studied the maps in 1975.
Gold must be sold to the government buyers. There were two joint venture agreements between the mine and OME. The US treasury was locked in to $35 an ounce or the same price the company received thirty years past. However, the costs of mining increased as inflation surged through the economy. Gold smuggled into Mexico and other locations brought a lot more cash than what the government paid. Smuggling for the directors was not a choice so the miners were laid off. Some miners continued drilling and blasting but left the broken rock underground. And yes, Sixteen to One gold found its way into Mexico.
All the veins of Alleghany are siblings. They are related and just like brothers and sisters act differently under stress. The Red Star section of the bolder Sixteen to One is as close to virginal can be without being virgin. The people who invest time money or care resemble me. We are confident gold remains, untouched by human hands, and waits for the miners’ hand on his drill. The Sixteen to One vein is not exhausted. At $35 an ounce one jut could not stay operating.
Thanks to this small but mighty band that call up this forum from time to time. Stay tuned. Now is the time to help the California gold miners. It is not the economic past. The federal government will not succeed in gobbling all the gold next month. The price is not a concern. Have some fun with us. Mike
in reply to: Clips from Alleghany #4215Thanks for asking Rick Bob. I’m doing better everyday. I am using only one crutch now and I can walk a little without it. Next Wednesday I go to get an xray and see the Doctor. I’ll let you know what he says.
I’ll be glad when the snow is all gone and stays gone though!in reply to: Gold Enters Major Bull Market #4214Last on gold is $1150.80.
The propaganda machine is being turned on again. It started Monday as Goldman Sachs reduced their projections for gold. The Street.com got into the act today with the following headline: “Gold Prices Cave, Break $1150.” How foolish these miscreants are with their misplaced words.
The scary part is the employees at the Treasury and Fed are totally lost at trying to figure out the mess they put us all into. Creating service oriented positions with borrowed money is not the answer. The answer is creating jobs that produce something real which will enable the economy to grow.
I read the other day that we are importing silver while mines and workers are idle, especially in Idaho. What a joke these public service employees are. When will they get it: rules and regulations destroy companies and cost taxpayers needless amonts of money.
In another light, Whwn I recently saw Hank Paulson getting off a plane in China as one of our representatives I knew our goose was cooked.
All currencies will fall against gold and silver and there is nothing that our leaders are willing to do to stop it.
Their game is up. It now remains just a matter of time untill the next big crisis hits. Martin Armstrong, who has an outstanding track record, states the next really big one arrives in the time period from 2011 to 2012 with another following in 2015 to 2016 period. Heard recently that real estate prices may come down another 50% from current levels.
You can count on a couple of things in the time period ahead: Your money will continue to buy less and gold will continue to protect your buying power.
As Dan Norcini recently generally stated at jsmineset.com, the currency that we exchange with each other represents only someone else’s debt with little to nothing behind it. Just be sure that when the music stops your’re not left standing there wondering who took your seat because no one will be offering you one.
Being on your own with pockets full of pretty colored bills with lots of zeros will soon be forgotten. Remember the words, “Not Worth A Continental?”
You wealth will always be determined by how many ounces of gold it equates into.
Gold is insurance and anytime you can buy more of it at lower prices the more secure your future becomes. Don’t let lower prices bother you, meet them head on by gathering up what you can.
in reply to: Clips from Alleghany #4212I just saw the news about Rae Bell what a mess.Good thing she had training. In my mom’s day there were no emt’s.Too much partying will get people in trouble. They did have a phone!!
My Gma was a pretty good practical nurse for your town when she lived there. The rest of our family lived in Honcut, Butte Co. and there was a Dr. Horton there who was married to my mother’s great aunt.in reply to: Clips from Alleghany #4211Snow in Alleghany. April is usually a snowy month and this year is no exception.
in reply to: Clips from Alleghany #4213Rae, how are you???? xoxo
in reply to: Water and Arsenic: which came first? #4207Answer to question below: No, there is no cease or desist order issued by the water agency. The actions of the water agency in the treatment of the Sixteen to One mine has no parallels with other mines that operated in northern California. The movers behind this lawsuit are the ones who should be given a cease and desist order.
in reply to: Water and Arsenic: which came first? #4210Nobody, more than Mike Miller, sir, has more in his vision, for all of us, to go mining.
The caltrops of jack-books intent upon destroying private sector discovery…that is where you and anyone else who doesn’t yet hear the Constitution trashed, need to focus.
Dave I, and I know we both mean well for our passions, but how in the world do you expect this to happen in the face of an assault by a public sector with a mandate to shut us up and silence our passions?
Jack-Boots, best met with a fierce, solid, smart, informed and motivated posture, not a submission.
in reply to: Water and Arsenic: which came first? #4209Yes I do agree. Look forward to hearing you win your case, you need to get back to mining sir, our country needs your resource, the labor and economic development your resource will provide.
in reply to: Gold Enters Major Bull Market #4208Gold is closing out the week at around $1162.00 an ounce.
We are all going to be hit, one way or the other, by an eventual soveriegn debt collapse. Maybe, they just won’t tell us the truth but just give us a new currency of some sorts to cover it all up. Times are very serious as the link below to Martin Armstrong’s latest missive indicates.
Martin is currented confined to the hole for assisting an inmate with his legal matters. He has to sleep on concrete and has very few writing materials.
It looks very much the case today with gold and silver that the precious metals market is ready to repeat what happened in 1979. This time it won’t be 100% inflation oriented. People around the world are scared to death and are dumping soveriegn debt for hard goods.
When the failure of soveriegn debt really starts, it will be an historical event. What we will witness is a series of dominos flipping over and over while destroying public wealth and creating massive amounts of new poor.
Our politicians have sucked the system dry. It is a disgrace that we have permitted the hired help to take charge of our lives and now they are the boss. As Rick has said so many times before, we still have our vote. When the time comes, make your vote count.
We have all been ruled and regulated like serfs in the excess by these fools who see nothing wrong in their behavior. They are no more than sociopaths. As Gerald Celente has stated, they interpret Justice as “Just Us.”
http://www.martinarmstrong.org/files/From-the-HOLE-9-A-Quick-Overview-of-Key-Markets-4-7-10.pdf
P.S. The government put Mr. Armstrong in jail because he didn’t want to cooperate in sharing his analytical computer software with a certain government agency as well as telling the truth concerning Goldman Sachs’ global ambitions.
in reply to: Gold Enters Major Bull Market #4206Last on gold is $1151.60
More on the gold and silver shortage.
The Latest Gold Fraud Bombshell: Canada’s Only Bullion Bank Gold Vault Is Practically Empty
Submitted by Tyler Durden on 04/07/2010 10:30 -0500Bank RunCommodity Futures Trading CommissionHong KongMorgan StanleyPrecious Metals
Continuing on the trail of exposing what is rapidly becoming one of the largest frauds in commodity markets history is the most recent interview by Eric King with GATA’s Adrian Douglas, Harvey Orgen (who recently testified before the CFTC hearing) and his son, Lenny, in which the two discuss their visit to the only bullion bank vault in Canada, that of ScotiaMocatta, located at 40 King Street West in Toronto, and find the vault is practically empty. This is a relevant segue to a class action lawsuit filed against Morgan Stanley, which was settled out of court, in which it was alleged that Morgan Stanley told clients it was selling them precious metals that they would own in full and that the company would store, yet even despite charging storage fees was not in actual possession of the bullion. It appears that this kind of lack of physical holdings by all who claim to have gold in storage, is pervasive as the actual gold globally is held primarily in paper or electronic form. Lenny Organ who was the person to enter the vault of ScotiaMocatta, says “What shocked me was how little gold and silver they actually had.” Lenny describes exactly how much (or little as the case may be) silver was available – roughly 60,000 ounces. As for gold – 210 400 oz bars, 4,000 maples, 500 eagles, 10 kilo bars, 10 one kilogram pieces of gold nugget form, which Adrian Douglas calculates as being $100 million worth, which is just one tenth of what the Royal Mint of Canada sold in 2008, or over $1 billion worth of gold. As Orgen concludes: “The game ends when the people who own all these paper obligations say enough and take physical delivery, and that’s when the mess will occur.”
Also note the interesting detour into what Stephan Spicer of the Central Fund Of Canada, said regarding his friend at a major bank, who wanted access to his 15,000 oz of silver, and had to wait 6-8 weeks for its to be flown in from Hong Kong.
It is funny that central bankers thought they could take the ponzi mentality of infinite dilution of all assets coupled with infinite debt issuance, as they have done to fiat money, and apply it to gold, in essence piling leverage upon leverage. They underestimated gold holders’ willingness to be diluted into perpetuity – when the realization that gold owned is just 1% of what is physically deliverable, you will see the biggest bank run in history.
in reply to: Gold Enters Major Bull Market #4205Last on gold is $1146.00, earlier it had been trading over $1150.00.
The gold and silver price rigging scam by fiat currency managers will be over soon. Jim Sinclair has recently stated that you won’t be able to buy gold after year’s end. Why? Because there are 100 times more ounces committed to all sorts of paper products saying that there is gold behind them, when in reality, it is an untruth.
China has quite a serious problem: If it buys gold outside of its own country’s production what guarantees will be good enough for them to insure delivery?
The game will soon be up when the media is forced to report the real news when delivery failures can’t be hidden from the public any longer when the Genie escapes from the bottle. Right now, the press is keeping the lid on it all concerning the fact that there is only one ounce of physical gold available for every hundred that have been promised. Concerning silver, it has to be worse with large US banks continuing to be naked short.
If you haven’t already got the facts from kingworldnews.com then you should go to their site and listen to Eric King’s past few interviews.
The days are becoming limited for gold and silver acquisition as more and more people are beconing aware of this great tradegy. Eric King has stated that this fraud is the greatest financial fraud ever to be experienced in the history of the world.
Before the bubble explodes and criminals identified, it’s quite apparent that everyone needs to have gold and silver in some form plus “in your own personal possession”.
News out today states that 6,900 people file for bankruptcy each day. For the month of March, 158,000 filed for bankruptcy protection. Some people don’t even have enough money to file as it costs anywhere from $1500 to $3500 for the bankruptcy attorney.
in reply to: Water and Arsenic: which came first? #4204Hi Michael Miller.
Are you on an order to “cease and desist mining” until this is resolved?
If so I recommend that you should reference the 1872 mining law, as a granted right, per the 9th Amendment of the United States Constitution. That State water quality controls can not deny your right to mine.in reply to: Water and Arsenic: which came first? #4203Superior Court Sierra County
Case Management Hearing
Attending by phone: Klaus Kolb for Original Sixteen to One Mine and Deputy Attorney General Jeffrey Reusch for the People of the State of California
Attending in person: Michael M. Miller as named defendantPrepared statement of Michael M. Miller:
Your Honor,I am disappointed that the California Regional Water Quality Control Board has not responded to the settlement proposal offered by Mr. Kolb and me. It was submitted in good faith with deep consideration for the plaintiffs’ stated duty to act for the public’s benefit. I expected more. My deposition was taken on March 2, 2010. I recently received notice that it is available for review. I will review it within the next ten days in Sacramento. At the deposition the deputy AG pointed out that a response from the water agency might be a slow process. I expected there would be some positive movement towards settlement as the water agency and its lawyers became more familiar with the facts leading up to its claim for damages.
Nevertheless, without plaintiff’s, interest to settle, it becomes prudent and necessary for defendants to begin discovery. I began drafting a request for admissions and interrogations to serve on the water agency. I am confident that when the management of the water agency, including the appointed control board members, realizes their exposure to serious wrongful behavior by the water agency, the judicial situation will change. It remains my hope and desire to reach agreement without burdening this court with a trial.
To this end I pledge to aggressively use the tools of the judicial system to the fullest. These are serious and threatening charges against the Sixteen to One mine and me personally. I do not know how the water agency or the attorney’s office will respond to my discovery. We will find out, however, this month as the process begins. Therefore I ask for time to prepare my discovery and obtain the answers.
I believe that the approach of the defendants to today’s hearing is the right approach. The requests by the water agency have been met with an open willingness to cooperate. . I will continue with the same respect and attitude during discovery. To this point, the prosecuting deputy AG has shown his willingness to cooperate and give us time to gather the requested information. I do not yet know the intent of his client as I attempt to understand the lawfulness of its case.
RESULTS:
Water folks said “no go” to settlement and it plans to seek a summary judgment. Blames the state legislature for passing a law without deviation. Says it has no other options. Case continued to June.
in reply to: Miscellaneous #4202Yes, our main focus is to stay on point here within this forum, how things affect the mine, and all of us connected. I initially started it to point out the similarities of current distractions employed in and by Washington, to today’s harassment of the mine by the CRWQCB. Both employ non-truths to empower their political motives.
in reply to: Miscellaneous #4201Just finished reading the latest Martin Armstrong report from http://www.martinarmstrong.org.
One significant point hit home hard:
Money is leaving outstanding government debt and headed into the stock market and gold. As you know, there is 10 times more money in bonds than in stocks. Not all bonds represent sovereign debt, there is corporate debt.
The bottom line: higher stock market prices, along with gold prices, silver included, will be fueled with funds exiting government debt. Most shocking from the article was, sovereign debt is expected to collapes by 2016.
Rick really has it right when he basically says, one of the last things they haven’t taken away from us, yet, is our vote. This is the one thing that agents of Rothchild and the family worry most about, an organized attempt with our votes to displace their power structure.
The following is some perspective from inside Congress as quoted from an anonymous Congressperson in a letter written to Martin:
“The tyranny of the status quo is pretty strong around here… Individuals’ desire for things to be “normal” is quite strong. The most recent actions by Congress in the face of a potential wave of sovereign wealth defaults is a good example of policy makers wanting to see the world as they wish it to be, rather than the way it is…
Seeing the pundits and a few members of Congress who called it right prior to the 2008 meltdown remain marginalized even after having gotten it right – and seeing these who were totally wrong come out of this circumstance with even more power than before – has not been heartening.
It’s quite obvious what’s been going on for a long time: slowly the public servants have been using the trust of the people to bleed them of their rights and wealth so now those servants of the mansion of State along with their cronies in finance will be the new owners of the wealth and the rights guaranteed to us by our fore founders.
in reply to: Miscellaneous #4199Yes we did, we barrowed the money, that we paid back with high tax rates in the early 50’s and 60’s. After the war. We also had accumulated a tax reserve. The value of gold was increased to $35 from $22 per ounce. The very wealthy were willing to invest in our nation, due to our capability to defend the free world.
in reply to: Miscellaneous #4198Dave…
We weren’t in debt then.
in reply to: Miscellaneous #4196…continuing from my statement below…
This can’t possibly happen, in a free United States.
Unfortunately, it is happening. Freedom, for this president, is his personal road-block.
in reply to: Miscellaneous #4195Oh, how over-joyed the CNNs and MessNBCs are reporting “promising new job numbers” today.
Milton Freeman’s knowledge of supply-side economic growth correctly pointed out that private sector growth concurrently grows revenue to the Treasury, given an optimal tax rate…too large a tax-rate %, and too small a tax-rate % both slow revenue to the Treasury.
Most certain of all: public-sector-government-jobs deplete revenue to the Treasury.
ANY new public-sector-government job-holder would need to pay 100% income tax, JUST FOR THE TREASURY TO BREAK EVEN !
This new Regime ‘president’ is gloating about creating government jobs, essentially admitting he is sending us deeper and deeper into debt, blocking private-sector growth, jack-boots on our throat.
This can’t possibly happen
in reply to: Miscellaneous #4194Happy Easter every Body at the Original Sixteen to One, Inc.
I’ve noticed that picture of the “Whopper” is no longer displayed, this makes me wonder that maybe it has been sold. Just the picture of that monster is a thing of beauty to behold.
in reply to: Miscellaneous #4197Public sector jobs, are like a temporary salvation to jump start the economy. It was these type of jobs that salvaged America from the great depression. World War II was mostly public sector jobs. With most men in uniform, and the nations industrial complex building the weapons of defense.
After the war we continued with the building the nations infrastructure. Public works has always been a resource for jobs.
The reason we were able to do this is the private economy of our nation was creating wealth through export sales to foreign lands, and building trade. We were the major world resource for agriculture products. To day economic development is more highly competitive through out the world. Natural resources are becoming more rare with higher demand, so it is the supply and demand that will drive the financial wealth of our nation.in reply to: Gold Enters Major Bull Market #4193If You Are Not Committed To Gold and Silver, You Are In More Trouble Than You Think.
Select GATA March 31, 2010 for all the information if the link below doesn’t come up from King World News.
The imbalance between physical gold and silver and what paper contracts say is there, ????, is the greatest in the history of the world and is presumed to worsen until the bubble from all the years of perpetuated fraud explodes.
According to Bill Murphy, there is a slow fuse burning.
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/3/31_GATA.html
in reply to: Miscellaneous #4192Thank you Gordon. I was waiting for the “and more”. It is not a simple answer. By law a hoist must be cut at both ends every six months. This waste needs to be calculated as well. Technical decisions are reasons why mining engineers are nice to have around. I always liked to work with the Sixteen to One geologists and engineers. There is a difference in how they think.
in reply to: Water and Arsenic: which came first? #4191The following article appears to be addressing serious concerns regarding the extraction of coal. Maybe the Water Board members need to get involved with the EPA to get an education of what real water damage is all about.
The EPA says that coal miners buried waste in streams. Maybe we ought to turn the State in to the EPA for dumping their rock waste in, I beleve, the South Yuba in which Mike told me about in past years, totally upsetting Mother Nature’s work.
EPA: New mining policy would protect water quality
(AP)
Updated: 2010-04-02 14:35
Counter:181The Obama administration has set tighter water quality standards for surface coal mining permits across Appalachia in a move that could curtail mountaintop removal mining.
U.S. Environmental Protection Agency Administrator Lisa Jackson said Thursday the EPA hopes the policy will clarify the water permitting process for Appalachian mountaintop removal mining – a highly efficient method that environmental groups claim is too damaging.
The agency also released two reports discussing the damage to watersheds by the mining practice.
EPA says burying streams with mine wastes increases salt levels in waterways downstream, hurting fish and other aquatic life.
Luke Popovich of the National Mining Association says the policy will cost a lot of jobs.
in reply to: Miscellaneous #4189Mike,
To play fair you need to include a bit more information.
What kind of hoist?
What size of drum(s)?
What kind of drum(s)?
What size of rope?
What kind of rope?
How many wraps do you want left on the drum or what is the expected life of the rope?
How is it secured to the skip?
Is the 277 ft the full vertical length to be hoisted or the vertical distance between the lowest level and the tip pocket?
And more?in reply to: Miscellaneous #4190Native American Saltwork
December 14, 2009 | USGS“Native Americans of the Miwok tribe in the northern Sierra Nevada, California carved basins into granite bedrock to produce salt for trade. They filled the basins with water from a salt spring and let the water evaporate, leaving a salt residue in the basin.” USGS reports that this is the oldest evidence of business in North America.
______________________________________Too bad the malfuntioning Water Board appointees weren’t in service back then. Can you imagine how the local Indians would have handled them? Messing with mother nature’s will along with a self fulfilling rules book could have easily caused them to be the target for a few arrowheads.
in reply to: Water and Arsenic: which came first? #4188What goes around, comes around.
States shed government jobs as revenue plummets
By CHRISTOPHER S. RUGABERWASHINGTON — Pennsylvania, Michigan and Washington shed government jobs last month, a result of shrinking state tax revenue that economists fear could weaken the recovery.
State and local government jobs have traditionally provided a haven during economic downturns. But as states have struggled to close growing budget gaps, job cuts have spread.
That trend emerges from data on a dozen states that have released their employment figures in advance of a federal report Friday on state joblessness for February.
In Michigan, where the unemployment rate is 14.1 percent, the nation’s highest, government jobs at all levels fell by 5,000. They accounted for one-third of the state’s job losses.
Pennsylvania lost 2,200 government jobs. Minnesota lost 1,900 and Massachusetts 1,500.
Washington state shed 900 government jobs in February. And Wisconsin lost 2,100 government jobs, including 1,600 at the local level.
in reply to: Clips from Alleghany #4187All is well in Alleghany. Let’s get right to one problem facing all underground gold miners in California. To work a gold mine in the famous Sierra Nevada gold belt requires labor. There are few operations. Workers compensation insurance is a law. Since there are few underground miners, the insurance risk must be risky for insurance companies. Why? Read on.
An employee’s taxes paid on top of wages are: FICA = 6.20%, Medicare = 1.45%, SUI = 6.2%, SDI = 1.10%. The total is 14.95%. Workers Comp rates are: Office = 1.07%, Surface = 21.57%, and Underground = 30.37%.
For each $100 of wages paid the total taxes and workers comp insurance are: Office employees add $16.02, Surface employees add $36.52 and finally the Underground miners add $45.32. Since no insurance companies elect to insure mining operations, the only provider is the State managed company.
in reply to: Miscellaneous #4185The following is from the opening scene of an X-Files show and spoken by an actor portraying a Navajo Indian.
“There is an ancient Indian saying that something lives only as long as the last person who remembers it.
My people have come to trust memory over history.
Memory like fire is radiant and immutable while history serves only those who seek to control it.
Those who would dose the flame of memory in order to put out the dangerous fire of truth, beware of these men for they are dangerous themselves and unwise.
Their false history is written in the blood of those that might remember it and of those who seek the truth.”
in reply to: Miscellaneous #4186Another torpedo, capital controls hidden in a stimulus bill. The following is from today’s the Casey Dispatch:
Capital Controls Are Here?
Two days ago over at zerohedge.com, they ran a story titled “It’s Official – America Now Enforces Capital Controls.” Here’s the story’s lead-in:It couldn’t have happened to a nicer country. On March 18, with very little pomp and circumstance, President Obama passed the most recent stimulus act, the $17.5 billion Hiring Incentives to Restore Employment Act (H.R. 2487), brilliantly goalseeked by the administration’s millionaire cronies to abbreviate as HIRE. As it was merely the latest in an endless stream of acts destined to expand the government payroll to infinity, nobody cared about it, or actually read it. Because if anyone had read it, the act would have been known as the Capital Controls Act, as one of the lesser, but infinitely more important provisions on page 27, known as Offset Provisions – Subtitle A – Foreign Account Tax Compliance, institutes just that. In brief, the Provision requires that foreign banks not only withhold 30% of all outgoing capital flows (likely remitting the collection promptly back to the U.S. Treasury), but also disclose the full details of non-exempt account-holders to the U.S. and the IRS. And should this provision be deemed illegal by a given foreign nation’s domestic laws (think Switzerland), well the foreign financial institution is required to close the account. It’s the law. If you thought you could move your capital to the non-sequestration safety of non-U.S. financial institutions, sorry you lose – the law now says so. Capital Controls are now here and are now fully enforced by the law.
After reading through the “Hiring Incentives to Restore Employment Act,” which is actually H.R. 2847, not H.R. 2487 as indicated above, the assessment by zerohedge.com appears to be accurate. Sure there are those who will say that this bill is about “cutting down on tax evasion” not “capital controls,” but I think that’s naïve. Even so, I encourage you to read the entire piece by zerohedge.com (link here) and all 48 pages of the HIRE Act (link here) so you can decide for yourself.
______________________________One wonders, when will a flashpoint of significance send the message that enough is enough?
in reply to: Miscellaneous #4184Everyone, read Bluejay’s words below.
My immediate comment is exactly what I wrote yesterday under the topic ‘Which Came First….’ (read that, it’s crucial.)
While voting is still legal, our duty and recourse and mandate is to kick these effers out.
Anyone who uses their political power to appoint effers to do their dirty work needs to go. The ‘president’ uses Czars, appointments void of validation with a vote. HOW IS THAT POSSIBLE????
They will only leave when we vote them out, or their Unconstitutional mandates are heard in front of the US Supreme Court. Which, is only going to happen if someone with BALLS and/or a WOMB take it there.
There will be court-fights, lawsuits, revenge appeals, all dependent upon whom they’ve managed to place into power on the bench. We’ve seen this first hand in the 3rd Circus Court, and in the 9th Circus Court, and we are on the precipice of tyrrany if the balance of decision, if mandated-policy-purchased-power-appointed-justices trump true Constitutional content in lieu of their contracted decisions.
Supreme Court balance is crucial. We already have a history of politically-motivated “justices” finding words and meaning in OUR CONSTITUTION that they have decided should be there, but ARE NOT, and their political decisions establish rule from the bench.
Any and all of us reading this: we are speaking to ourselves on this tiny tiny tiny forum, as good as it is, but there is a far larger mind that needs to hear from us. We are sharing like-minded ideas with each other while we need to expand our message, outside of the box.
Copy and paste this into any and all blogs you can.
VOTE!!! Speak, write, share, tell, always the truth.
in reply to: Miscellaneous #4183Sevicing debt in these times is a real killer.
Not only does paying the debt charge shrink consumer demand for goods and services which is counterproductive to economic growth, now it appears that Ford is experiencing problems handling their debt obligations. The sad truth is that China is flipping our IOU’s for hard goods as is exemplified by the follow news headline:
Chinese Car Maker Buys Volvo From Ford For $1.8 Billion
The trend is well established for the great American wealth shakedown along with expected future reduced living standards. The reversal trend started with the encouragement from Alan Greenspan to start using our profits in real estate as our own personal ATM machine. Were Americans taking money from their apparent profits or were they just piling on the debt? Well, I think we all know the ugly truth.
What happened in the housing market was no different that what happened in the silver market in the late 1970’s. As silver advanced there was more available cash in the accounts of Comex silver investors to either take out lowering their cushion of margin safety or leveraging up with more debt obligations. In many cases they took money out or just, leveraged up. The collapse in prices soon followed with devastating losses to the longs.
Although the Hunts were responsible for the majority increase in silver prices, it was the public and other international interests that took it up to its final high at $50 an ounce from about $35 with their buying rout. The Hunts began their silver buying program well below $5 an ounce. It was never the intentions of them to corner the silver market, the market just could not absorb the money that they wanted to commit to it. The justification for the Hunt’s buying program was that they wanted to exchange their dollars for the real McCoy and thought silver undervalued. They were worried the fiat money system was about ready to come apart at its seams.
Fortunes were lost overnight in the silver market due to excessive speculation that was fostered by debt and greed, same as those that busted the housing market. Looking back at home prices, we depended upon on our leaders and got bad advice. Alan Greenspan is the person you blame for your financial ills if you have them. Not only did he encourage us to pile on the debt, he increased the money supply that helped foster the run-away top that imploded the bubble. Excess money created by the Fed, will sooner or later, create all types of bubbles. The grand-daddy of all bubbles is just waiting to happen, hyperinflation.
Now we have another destroyer of our wealth at the helm of the Fed, Ben Bernanke. Bernanke convinced the uneducated House of Representatives, with the aid from Mr. Conflict of Interest, Hank Paulson, to hand over billions of dollars to the irresponsible bank speculators in preventing a Depression. What a farce! According to Martin Armstrong, IT IS THE DEFAULT OF DEBT THAT CAUSES DEPRESSIONS.
The Depression that is coming to California, or is here already, will take down the State and dismandle many agencies in their desperate attempt to save themselves. Hopefully, the Central Water District will be one of those agencies eliminated.
The financial condition of California is more dire than is being reported. The Muni-bond market is in shambles. If you own Municipal bonds just try and sell them. You will end up selling the bonds for a shocking price compared to what your broker is telling you they are worth on your monthly statements. In some cases, there just aren’t any bids, no buyers.
The State has been ruined by professional politicians. When State revenues didn’t justify their salaries, they just went out and borrowed the funds against our future. As the government expanded more and more by the creation of all these extra agencies and support staff, so to, were they setting us up to be ripped off once their revenues dried up, which they have. The bottome line is: These guys are just not that smart and now we have to pay the cost of their inflated egos.
The debt factor is the key, whether it be housing prices, past silver prices or the activities of irresponsible politicians. A question that comes to mind is, why do the major cities of California have Ethics Commissions to oversee the behavior of their employees while not one can be located for the hired hands of the State?
Yes, debt is the real wealth killer along with being the breeding ground of Depressions. Heaven help us all when State officials come knocking with their new expected laws of embezzlement to cover-up their own egegious financial acts.
The one thing feared by them the most is our right to fire them with our vote. No matter what comes out of their pie-holes, give them all their pink slips when it is our turn.
in reply to: Water and Arsenic: which came first? #4182Rick, I regret that you are right.
in reply to: Water and Arsenic: which came first? #4180I again wish to ask if anyone knows how the regulators establish acceptable water arsenic levels. It is well to question their motives. However, I would also like to challenge the science behind their assumptions – if there is any.
in reply to: Water and Arsenic: which came first? #4181Great question. And, I don’t know the science, but I do know the politics.
It will be instructive to discover the science behind their decisions, but that pipe dream is lost to vote-buying, science-ignoring (always remember the funding sources, those feeding frenzied dollars gobbled up with outcome-based distribution, the tainted science designed to produce political results, next gobbled up by the gobbling lap-dog media…I digress.)
Reality: science has no voice here. If it did, they would focus on the true issues for water-supply quality problems, like recognizing how Southern Cal is effing with everything rural in the North.
When I first initiated this topic, I was amazed that it was even a topic of debate. Natural stuff happens…like water with natural arsenic content. A mine found gold, and arsenic arsenopyrite as sulfide deposites, existing for millions of years. Somehow, an a-hole in politics discovered money in an attempt to equate the two, blatantly omitting that natural elements are natural, and occur.
IT IS A FACT: arsenic occurs in the water above and below the minbe, and always has, even before there was a mine.
IT IS ALSO A FACT THAT THEY DON’T CARE ABOUT FACTS.
This is politics, the awful ugliness of oportunity, worse than any gold-seeded farse tried before, because we have un-elected cons able to impose gestapo-tactics into our freedom.
I am as out-raged as all of you. While voting is still legal, we need to kick these crooks out with our vote.
NEVER FORGET THIS !!!!!!!!
in reply to: Water and Arsenic: which came first? #4179Are the current Water Board members any different than the California politicians, along with governor Pete Wilson, back in 1996 when they all screwed fellow Californians?
Some companies, especially Enron, had an agenda to prosper at the expense of residents back then and our representatives paved the way for the financial raping that soon followed the State’s deregulation of Electricity rates. The total dollar amount of the heist perpetrated against California residents that was set-up by the legislature totaled $70 billion. Have we forgotten that already?
How did deregulation come about? Quite simply, by the lobbying by energy companies of State officials. Who wrote those complicated new rules that few understood when signed into law? Of course, it was the highwaymen who were encouraged in some manner or another to aid in this robbery: the rule makers, State employees.
Now we have established in the State rules and regulations concerning our environment. The dirty side of environmental interpretations and rules is they can be used to take more money from us, in this case owners of the Sixteen to One. It is a fact that there is no global warming but still it is referred to everyday as being the gospel truth. It’s just like the phony Water Board interpretation of water standard rules that is now being attempted to reach into our pockets, again, just like when Al Gore tried to be instrumental in convincing U.S. lawmakers to pass a carbon tax. Gore was icing over a pile of dog crap and trying to sell it as a birthday cake. As was mentioned earlier here, 31,000 scientists opposed the idea of global warming which sent Gore into hiding.
The Water Board should be investigated by Federal regulators concerning manipulative and gestapo tactics to rob Original Sixteen to One owners concerning water matters. Just like the complicated rules of electricity deregulation facilitated all the stealing from residents, so again, here comes the State. Too often though our country’s history private interests have stolen from citizens with the assistance of elected representatives and their back-up staff of appointees running various agencies. These appointees really don’t have an independent hand, they take their orders from the person who appointed them. Wouldn’t that sound reasonable?
In California energy costs were stable until Enron started experimenting through manipulation of energy flows and on how much money they could steal from us. Sound familiar?
California’s new degegulation rules were written in great complexity. Who do you think wrote those rules? Really, it was the energy companies, especially Enron. How much money do you think it cost Enron to convince the State to see it their way? Who took the benefits?
Kanaka Creek that passes through Original Sixteen to One’s property has no increased incidence of arsenic. The folks at the company are environmentalists. So what’s the problem with the Central Water Board? The problem is they are enforcers. Their salaries are supported by the numbers of tickets they write. If this isn’t the most egregious example of conflict of interest then I suppose you could call Bernie Madoff a saint.
Lawmakers, in some cases, are just a bunch of financial hoodlums. They use their entrusteed power to enrich themselves at the expense of the people who put them in office.
I believe that if the State Attorney’s office can’t get $1,000,000 out of the company then they’ll go after shareholders and access them. Every shareholders needs to address this issue with their State representatives. People, we are being attacked. This is not the time for complacency.
By the way, Californians never got rebates from the over charges back in the late 90’s because all the evidence against the power companies, especially Enron, was conveniently destroyed during the time of the 9/11 attacks when Building #7 that housed those important documents was methodically imploded. Yes, I say methodically imploded.
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