Friday, September 14, 2012

FACE OF EVIL

Maybe....but that is not the point here. Perhaps Jon Corzine orchestrated the downfall of MF Global and the theft of all of its clients segregated accounts AND their various futures contracts and commodities such as gold and silver that many were ready to take possession of.......again......I am only saying maybe Jon Corzine was the perpetrator. You will most likely never know since powers that are greater than many of us would like to admit control his fate. My own guess is that Jon Corzine only served as a witting or unwitting operative for the dissolution of MF Global. What should be more disturbing were the recent Court decisions that essentially codified the theft of the customer's segregated funds. That tells you and me that all bets are off if you think your accounts are protected if the SHTF scenario develops in the future. There would be a feeding frenzy of an intensity that would make MF Global look like a cake walk. These are the events that many of us dread and in a counter-intuitive way make me hope that Bernanke's "reflation" play works. If it doesn't then the chaos will ensue. Most of your Brokerages have fine print that allows them to "borrow" your shares and if the brokerage has a meltdown scenario then your shares may actually NOT be owned by you unless they are directly registered to you or you hold the certificates. DO NOT accept my commentary on this and do your own Due Diligence on this through your accountant.

 Transfer Agent:
The record keeper employed by a public corporation to prepare and maintain records related to the accounts of their shareholders. Such information would include the name of each registered shareholder, his or her address and the number of shares owned. The agent oversees the issuance of certificates to new shareholders and the destruction of certificates that have been sold.
It does not matter if a transfer agent is owned by a bank or financial entity because it is a separately incorporated non-financial entity posing no financial risk to those it accounts.
Street Name:A term used for describing a stock that is held in the name of a brokerage firm, instead of the actual purchaser of the stock. When you buy a stock and let your brokerage firm hold the stock certificate on your behalf, the stock is said to be held in “street name.”
Nominee name:An official of a financial institution or some other appointed agent to whom securities or other funds are transferred by agreement with the actual owner. Nominees facilitate the collection and distribution of income from securities (when such securities are held in the name of a nominee), and facilitate the sale or purchase of securities when it may be inconvenient or impractical to obtain the necessary signature of the principal in order to conduct a transaction.

For additional definitions visit:
 
http://www.investordictionary.com
http://www.investopedia.com


There are many "inventive" ways that paper can be REHYPOTHECATED from the sheeple investors. Just beware that holding your own assets in a coming SHTF is essential. Many of you question whether you can time these events and of course the simple answer is NO. You may get lucky but most will not. If you are lucky enough to have a large retirment brokerage fund then begin taking some out and paying the interests and penalties and investing in a hard asset. If you are already diversified and have gold and silver and no debt then of course you have a little more latitude to play.



But nobody owns gold and silver outside of the true believers, and the sentiment is remarkably negative considering how positive things are at this point.  If you look at the longer-term charts, they are spectacular.  They are supportive of dramatically higher prices.  

The fuse was lit yesterday, but the bottom line is the manipulators will try to keep the gold and silver markets trading in a counterintuitive manner in order to keep as many people away from these markets as possible.”

Embry also added:  “Jeff Christian appeared on Canadian BNN on Monday, which is the Canadian version of CNBC, and Christian had the unmitigated gaul to say that he didn’t expect there would be any quantitative easing of any significance when Bernanke came forward, and the commodity complex would be crushed.

He suggested that everybody short gold and silver and everything, and he was looking for $1,550 on gold.  How long does this guy get a free pass?”

Embry had this to say about silver: “I’m wildly bullish on silver.  I don’t think the physical market has ever been this tight.  I see ever greater demand for precious metals, and more and more of it will go to silver because gold will become increasingly expensive.

Consequently, I see the gold/silver ratio declining precipitously, which means if gold is going a lot higher, silver is going to rise multiples of the gold increase.  So I couldn’t be much more bullish.”

Embry has this to say regarding the mining shares:  “Finally the mining shares have rallied.  We had been saying they were grotesquely oversold, and you know my view that it was not natural selling.  There was financial repression, in a huge way, going on in that sector.

Now the unnatural selling we have seen is starting to be relieved.  If I’m right on my gold and silver call, and I’m confident I am, the explosion in the share prices is going to be historic.”  KWN


34 comments:

  1. Thanks Kli.
    Looks like it is time to have yet another talk with my accountant about this. He and I have gone over these issues several times. But, now with the Sentinel ruling out, it is time for another.

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  2. Shame on you, Mr. Bernanke. for stealing from those among us who know how to manage their money, who did not live beyond their means, who valued the dignity of saving for a possible rainy day so they could take care of theirown needs. You might do well to drop your fancy economic theories and get back to some principles of basic decency and accountability yourself. Your policies have done irreversible harm to the wisest and most disciplined among us...just so you can rescue the reprehensible, "wheeling & dealing" banking establishment. How do you manage to sleep at night, sir?

    thought this was a great quote from lady on blog

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  3. Like he gives a chit! Gas was 4.15 cash price for the watered down stuff this morning, 3.89 last week for the same.... Cant wait for the winter to roll around, home heating oil will probably hit 5 a gal if we have a cold one, now I'm rooting for global warming!

    Check out the BDI, not good.......

    http://investmenttools.com/futures/bdi_baltic_dry_index.htm

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  4. Tom, 10C higher for me this morning and I'm paying the same in Northern California...

    consumer sent. great....whatever the Fed see's it better be really ugly...their was no reason for qe now...maybe Jan..not now...

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    1. they see total collapse.....its not even that hidden......massive bank runs in Europe for months and more to come...business worldwide fell off a cliff two months ago and worsening.....NO velocity of money...he is trying to create velocity by destroying confidence in holding the dollar......gl all

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    2. he IS TRYING TO CREATE INFLATION.....he is in a deflationary trap

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    3. I'm with you there...but buying MBS doesn't do the job for him..he needs to drop dollars to general public to do it...

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    4. Your correct ESPECIALLY in essential goods but for a breif moment in time he will get what he wants however when the inflated essentials kill whats left of small business and peep's balance sheets down we go.....

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    5. Ben is maintaining the "system" ...not the peeps....his masters own the system and that is his focus. Providing more capital to the balance sheets of the big banks is essential to holding on. Only minimal benefit for the peeps with this approach. Detrimental implications overall since the malinvestment perpetrators will be "bailed out"....in other words the "dumbest son of a bitches" in our country are being maintained in their McMansions and BMWs and shitty bullshit businesses ......while the individuals that have been prudent and wise and are ready to step in an purchase troubled assets and restore proper growth are being kept out. In other words the "weak hands" are still being protected at the expense of the "strong hands".....eventually nature's law will be obeyed

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    6. True dat...... It's Nature's law that scares the chit out of me since I'm just another peep.....

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  5. Wondering why silver seems to be stuck in the mud today. I know it is hugely overbought, nosebleed overbought, but I would have expected more money to be moving into PMs today given $34.50 for an ounce of silver is a steal.

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    1. all good action for silver today...just consolidation like earlier this week before the next push up....would love to see more red on monday and tuesday but probably won't get it... a nice flag on the two hour would be nice

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  6. Just for some humor, on 9/12, someone once again wrote a very negative article about NKTR. Ever since, the stock has been doing great. This is the second time someone has written a negative article, only for the stock to then fly.

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    1. purely accidental doc....lol.....like when jon najarian announced he was shorting gold yesterday on CNBS a half hour before Ben's announcement....Virtually every pundit said for days before Ben's announcement that it would be a "sell the news" event ......it froze the sheeple....

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    2. I read that article and have watched it move north...too funny...kind of like the general market...bad news is great news for equities...

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  7. Very well worth the read...all predicted......

    http://www.beaconequity.com/breaking-historic-silver-panic-in-progress-says-gata-sources-2012-09-14/#ixzz26SLzmAl5

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  8. Chuck, I have read that freddy and fanny are near BK. Many homes..like 2.5 million are in limbo where the folks are not paying the mortgage and not being foreclosed upon. Maybe it does not look bad because so many are renting a new car. But, things are falling apart again. Shame on Bernanke for USING the people to promote a program that hurts the people. This QE has a shelf life of 24 hours. The 1/2 to 1 trillion goes into a black hole.

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    1. They are both under treasury rec'shp, they are now working on FHA..did you know you can get a 3% loan with a 580 fica (sometimes lower) and then apply for california mortgage act fund where they give you another 2% down to get a house...

      How many MBS traders do you know...I think the treasury ends their backstop on MBS on dec.31rst...conincidence? The banks are in trouble is what is happening..Why not reduce the .25 paid on bank reserves to create inflation...Why not throw that 85 billion into national solar and Ng grid where we can finally give the bird to the middle east and take that expenditure out of trade deficit...we own solyndra..give everyone who paid their mortgage on time free solar setup to compensate for their prudent behavior...

      The fed is saving the banks and killing main street...I stood in front of the SF fed bldg in 2007 with signs telling people to look and see whats happening, heck I'm on youtube telling people the govt calls you consumers I call them citizens...I've been prudent and actually lost in this epic battle...I have no issue at all of spending that 100K of open credit on my cc cards when tshf...it will be spent and then I fall into bk...so what you can get a new loan in 3 years and life is all bubbly again...rant off

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    2. Kli,

      I'm often misunderstood...I just want kids to have a chance like I did..not a free ride, just a chance..don't mean to clutter your blog..

      nature heals...sunset in Kona the other day
      http://s15.postimage.org/6623islqz/DSC_0132_2.jpg

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    3. not cluttering at all chuck and I totally agree with you...make no mistake.....its theft and I have talked about this for years.....so rant on......you're spot on

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    4. Honest keep venting cause your 100% correct and your just saying what most here are thinking! Gas moved up 2 cents this morning from the same place I bought it from yesterday........ Went to a gathering lazt night and wouldn't ya know it every one was grousing about gas going up so just for fun I asked the question what is and who owns the Fed, Heheeeee not a one came close to the right answer! Didn't even bother to correct just let them continue grousing.....


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  9. here chuck this should make you feel better
    http://www.youtube.com/watch?v=aH8q4vP8LhA&feature=player_embedded#!

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  10. for you Doc

    http://www.silverdoctors.com/jim-sinclair-govt-to-raid-retirement-accounts-to-fund-shortfall-of-treasury-purchases/#more-13809

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  11. Thanks Kli.
    I have been decreasing the amount I have been putting in for the last couple years.
    I tried searching Sinclair's Site yesterday about these Gold IRA's as well as Peter Schiff & Jim Rogers. I could not find anything directly from any them that they agree with these Gold IRA's. They all recommend owning gold, but imply actual possession.
    These Gold IRA's are heavily pumped on the Internet, so, that alone is scary.

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    Replies
    1. Buyer Beware.......also think about this.....at the very least we are already in a phase of gold "soft" confiscation phase......this could continue to evolve and these storage sites are easy targets

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  12. AUQ......watta scam.....they drill it and flush out all the stops and weak hands.....hehehehhehehehehhe its now regained all......

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  13. Just got off the phone with my accountant.

    His answer is "nothing is safe" and believes a major event will occur will occur in the USA in 2017. Like you & Red, he would be concerned about gold in these Gold IRA's being confiscated. So, I guess that idea is out. He talked about some annunities "maybe being safe". He just doesn't like gold (never has) and admits there are really no good answers. He does not like the idea though of taking a penalty hit and then paying major taxes on early IRA withdrawls.

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    1. yes doc most of us are dealing with the same conundrum.....

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  14. The QE. It's a set up. Jaw bone to da max. A circle of mbs from the agencies to the fed and back....

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  15. Prolly the spx levitates, the rut. the dow. interest rates held down. Much of the same that has been going on. It's just commods do not get bought. Brilliant really.

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  16. http://www.freestockcharts.com?emailChartID=c7e3fc90-de35-446f-bda5-296b0f8543a2

    oh oh. dxy at do or die time.

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  17. euro going to melt down----

    http://www.zerohedge.com/news/fed-may-be-pumped

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  18. usd/euo

    http://www.freestockcharts.com?emailChartID=31936fc5-497d-443e-b6fc-fb5fe0481528

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