Legality and Humanity part company when the demands of a dead thing, a corporation, are given priority over life. At the heart of the matter is the love of money and the lust for power.
These days, we have so many influences bringing out glaring contrasts between Bureaucracy and Humanity. The hot spot today is the Federal Budget debate. This is nothing new. We’ve been watching people threaten each other with poverty since forever. It is during these bouts of confusing numbers and inflammatory ultimatums that we are reminded that turning on floodlights in a crowded bar, at midnight, can expose a lot of surprises.
It is in the contrasts, brought out it all their naked glory, that we see the behavior that causes us to cringe at admitting that we are associated with any of this mockery of all things American. Yet, we need this. We need to understand that Bureaucracy is anti-human. It is cannibalistic. Even in it’s most commercial context, it is impossible to find any compassion or grace for the behavior of Bureaucracy. Something happens to people when they gain auspicious titles and put on a suit and tie. In reality, they are no less human. They just act as predatory animals.
There is one thing that we can be sure of. Those who gain by this unreasonable facsimile of a reality show called government will not be found in line when the inevitable next step down in the currency collapse is taken. None will admit complicity in the Ponzi scheme that is the Federal Reserve. There won’t be a deal good enough to persuade the world to buy U. S. Treasury debt. The situation will become institutional looting and piracy.
This is the point when the masks come off and the wolves devour the sheep. The turmoil and protest in other countries will be seen in the United States. Bureaucracy believes that it is a law unto itself. The human common sense response would be to admit that there is a higher court than any institution of Man. But then, Bureaucracy ate of the forbidden fruit and bought into the original lie, long ago. No, the men of renown have not become gods, and their pride is going before destruction.
Thank you, Harmon …. In this circus, the lion eventually devours everyone, if they don’t have enough sense to get out of there.
From: Legal Reality <email@example.com>
Subject: Fwd: [GATA] Ambrose Evans-Pritchard: German ‘nein’ leaves Italy and Spain in turmoil
To: “Legal Reality” <firstname.lastname@example.org>
Date: Tuesday, July 12, 2011, 11:58 AM
12 July A.D. 2011There are multiple stories below. Key is the recent German decision to refuse to continue to finance Italy and Spain. The PIIGS nations are feeling the consequences of unpayable debt.
Not healthy for the EU. Ultimately, it’s probably good for those seeking liberty, for the thumb of the internationalist banking regime may have reached its limit. We’ll find out plenty soon enough.
To understand “exponential growth” is to understand what had to have been the plan from the beginning by the “lenders.” Where debt grows exponentially, which is what happens with interest, it is easy to calculate “when” any debt becomes unpayable.
The present “debt ceiling” political football is a fancy spin, i.e., cover story, on the reality that math is pretty solid in basis. A debt that’s growing exponentially can’t be paid. To continue to pretend that a “debt ceiling” needs to be raised is to continue to pull the wool over the people’s eyes as to the mathematical reality. Germany is commercially compelled to act within the boundaries of mathematical reality. Good for them.
We look forward to the day when the bread and circuses no longer keep the American minds focused away from our financial/mathematical reality.
As a interested voice in East Texas reminds us quite often, that which cannot be paid will not be paid.
Harmon L. Taylor
Subscribe / unsubscribe : email@example.com
—– Forwarded message —–
From: “Gold Anti-Trust Action Committee” <firstname.lastname@example.org>
Date: Mon, Jul 11, 2011 3:59 pm
Subject: [GATA] Ambrose Evans-Pritchard: German ‘nein’ leaves Italy and Spain in turmoil
01:59PM ET Monday, July 11, 2011
Ambrose Evans-Pritchard: German ‘nein’ leaves Italy and Spain in turmoil
How awful of those nasty Germans to resent paying for the loose living of others!
* * *
By Ambrose Evans-Pritchard
The Telegraph, London
Monday, July 11, 2011
Italian and Spanish bond yields soared to post-EMU highs in a fresh day of credit turmoil after Germany blocked any meaningful measures to defuse the crisis.
Chancellor Angela Merkel called for more “frugality” in Italy, sticking to her script that Rome can solve its woes with an austerity budget. Her finance minister Wolfgang Schauble said any boost to the EU’s E500 billion (L440 billion) bailout machinery was “out of the question.”
…. Dispatch continues below …
Prophecy (TSXV: PCY) Secures Russian Far East Seaport Allocation
and Updates Ulaan Ovoo Mine Production
Company Press Release, June 14, 2011
VANCOUVER, British Columbia — Prophecy Coal Corp. TSX-V: PCY)(OTCQX: PRPCF)(Frankfurt: 1P2) has arranged with the Port of Sovgavan in the State of Khabarovsk, Russia, so the company will have initial access to port allocation of 25,000 tonnes of coal per month starting this month, potentially expandable to 50,000 tonnes per month, representing 300,000 to 600,000 tonnes annually. Prophecy also will be assigned a coal storage area at the port.
This arrangement provides Prophecy’s Ulaan Ovoo thermal coal mine with immediate access to the Asian seaborne export coal markets. Sovgavan is strategically located on the seaboard of the Russian Far East. The port is privately owned and can accommodate seagoing vessels of up to 160 meters in length, with the depth of loading site of 9.5 meters. The port has loading capacity of 6,000 tonnes per day and direct connections to Trans-Siberian railroads and uncongested Russian state highways.
Securing the port opens Prophecy to a significant number of coal buyers, and the company is placing top priority to conclude rail transport within Russia and coal offtake contracts.
Prophecy’s Ulaan Ovoo mine commenced production in 2011. So far this year the mine has produced 200,000 tonnes of coal, which are being stockpiled. The average quality is 4,200 kcal/kg NAR with 5 percent ash and 0.5 percent sulphur. Those attributes compare favorably to the coal being purchased by local Russian and Mongolian power plants.
For the complete company statement, please visit:
Mr Schauble denied reports that Berlin was ready to empower the fund to purchase Spanish and Italian bonds pre-emptively on the open market, a move seen by experts as vital to halt dangerous contagion to the larger economies.
The market’s verdict on EU foot-dragging was instant and brutal. Yields on 10-year Spanish bonds smashed through the 6pc barrier for the first time since 1997, made worse by warnings from the Castilla-La Mancha region that its deficit had become “extremely serious.”
Italian yields jumped 44 points to 5.7 percent, a level that starts to threaten the sustainability of the country’s finances. Markit’s iTraxx SovX Western Europe, Europe’s sovereign stress gauge, saw the biggest one-day rise ever. “Contagion was the word on everybody’s lips,” said Gavan Nolan, Markit’s credit chief.
EU leaders seem unable to keep pace with the fast-moving events. Eurogroup finance ministers focused yesterday on details of “burden sharing” for banks that lent to Greece, no longer the most urgent matter. A summit of top EU officials ended with no hint of how the crisis could be contained.
“We’ve painted ourselves into a corner. At this point, either someone — Germany, the European Central Bank — has to fundamentally shift position or everything blows up,” an EU official told Reuters.
Berlin has resisted any move to buy or guarantee the bonds of distressed debtors, viewing it as a slippery slope towards a fiscal union and a breach of Germany’s Basic Law. The ECB in turn has refused to buy Spanish and Italian bonds, saying it is the task of EU governments.
The euro tumbled over two cents to under $1.40 against the US dollar. Gold rose to $1,556 an ounce on safe-haven flows. Italy’s stock market led the rout of global bourses, dropping 4 percent despite moves by the regulator Consob to curtail short-selling. Italian bank shares were pummelled again. Unicredit fell 6 percent, and Intesa SanPaulo fell 7 percent. London’s FTSE 100 fell 1 percent, while the Dow was off 1.3 percent in early trading.
Escalating woes in Italy and Spain raise the stakes dramatically. The pair have E6.3 trillion of total debts between them. Jean-Claude Trichet, the ECB president, said Europe is now at “the epicentre of a global problem.”
Yet EU attention remains focused on curbing the rating agencies, a campaign that is turning shrill. Viviane Reding, the EU Justice Commissioner, said the authorities must “smash the cartel of the three US rating agencies.” Fitch is, in fact, French-owned.
Barclays Capital said EU leaders must recognise that Greece is insolvent and prepare for an orderly debt restructuring, perhaps one that shares the pain between private creditors and the EU taxpayer and gives Greece a way out of its trap by easing the debt burden by 60 percent.
Such a move requires back-stop defences to prevent contagion, perhaps by using the EFSF bailout fund to shore up Club Med bond markets. The solution is elegant; what lacks is political will.
Gary Jenkins at Evolution Securities said the EU cannot keep stalling. Italy’s borrowing costs are ratcheting toward the fatal line of 7 percent. “It is worth remembering how quickly bond yields can get out of control by looking at what happened to Greek, Irish and Portuguese 10-year yields. What would keep me awake at night if I was a European finance minister is that we are only about 2 percent from potential disaster,” he said.
* * *
Join GATA here:
Gold Rush 2011
GATA’s London Conference
Thursday-Saturday, August 4-6, 2011
Savoy Hotel, London, England
The Silver Summit
Thursday-Friday, October 20-21, 2011
Davenport Hotel, Spokane, Washington
Support GATA by purchasing gold and silver commemorative coins:
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA’s full-page ad in The Wall Street Journal on January 31, 2009:
Or a video disc of GATA’s 2005 Gold Rush 21 conference in the Yukon:
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Golden Phoenix Shareholder Conference Call To Discuss
Start of Gold Production at Mineral Ridge Gold Project
Company Press Release, June 27, 2011
SPARKS, Nevada — Golden Phoenix Minerals, Inc. (GPXM) has scheduled its second quarter 2011 shareholder conference call for Tuesday, July 12. Shareholders are invited to participate in the call, will begin at 1 p.m. Pacific and 4 p.m. Eastern time.
Company management will provide updates on accomplishments in the second quarter and explain how the company’s royalty mining growth strategy is expected to unfold in the second half of the year.
Topics to be updated include the start of gold production at Mineral Ridge, developments on the Vanderbilt Silver and Coyote Fault Gold projects, the Shining Tree and Peru projects, and drilling plans for 2011. Questions from shareholders will be answered as well.
“Thirteen months after closing the joint venture between Golden Phoenix and Scorpio Gold, the Mineral Ridge property has entered gold production,” said Tom Klein, CEO of Golden Phoenix. “Last week both companies completed joint tours of Mineral Ridge. We look forward to providing a complete update on our conference call.”
Participation in the shareholder conference call can be arranged by telephone, webcast, or Skype. To participate, dial 952-356-0015 and enter Conference ID 419582#.
For the company’s full press release, please visit:
Golden Phoenix (GPXM) is a U.S. mining company with international exposure to gold, silver, and strategic metals. The company’s business model combines project generation and royalty mining that offers the potential for exploration upside, coupled with the backing of production and future royalty streams. View company videos here: http://www.GoldenPhoenix.us
Read more at http://www.gata.org/node/10117
“The Other Shoe?”
This is just a reminder from my archives. Originally published in June of 2009, this post shows how central banks work the Bait-And-Switch and the Shell Game. We will see this repeated in Greece, Ireland, Portugal, Spain and any other country that bought into the Ponzi scheme. We see interest charged on ledger entries. In reality, the legal definition of money never entered into the transaction and the rhetoric that went with it. Interest is charged on fiction and nations pay with reality. This is how central banks conquer countries with the stroke of a pen.
Just when we thought there was quiet on the bailout front, we get news. Some of the biggest banks are ready to repay billions, but only if the administration will let them. Debt moves from one ledger to another, they call it paid, and the experts are still nervous. We should not buy cars from these people. The repeat offenders have gone way past three strikes, robbing Peter to pay Paul. Apparently, every silver cloud has a manure lining. The short little article in the June 8th Denver Post, written by Binyamin Applebaum and David Cho of the Washington Post covered the bases, pretty well. At least the article acknowledged that this wasn’t actually repayment, but refinancing, through other government programs. This is the same kind of fancy bookkeeping that kept Bernie Madoff out of trouble, for so long. Oh, excuse me. We have experts, now. Are they more expert than they were, in September? They can’t be very bright if they don’t see the same debt load, sucking the life out of the alleged recovery, that I see.
Since September, official statements have implied a perpetual state of revolving debt. The trigger on the next phase of the collapse could be the same funds listed as assets on different institutions books, as assets. In the fractional banking system, that has been possible and by all accounts at various times in history, accepted practice. If currency that doesn’t actually exist can be loaned, how do you prove who really doesn’t have it? there is no pea under any of the walnut shells. Better put some extra currency in the mattress. The pea might be under there.
Some of the quotes from the article are better than reading the comics. The title says, “Doubt lingers ……. “. Oh. That’s what that smell is. The part that stinks is that government borrowed debt and all the taxpayers get is the obligation to pay the interest. In the case of Chrysler, the get stuck with all of it. If the banks get out of the bailout plan, they are then free to pay their executives big bonuses, again. This looks like the second round of the same scam. The only change is that the taxpayers are deeper in debt than ever before. The only change in process is that the economy is now a board game without rules.
The article addresses the concern that all of this bailout activity has created an “artificial environment”. Does this suggest that there was anything real in the last 2 or 3 decades? Alice encounters the White Rabbit on the Planet of the Apes. Yes, that could happen, . . . . . on TV. It’s more likely that small businesses will collapse in droves as the bottom drops out of consumer spending. Microsoft threatened to move jobs out of the U. S. if they don’t get tax breaks on their foreign profits. Could this be the start of something big? Will we hear a “stay the course” speech in the Fall? At present, the “course” may be messy slog through the international swamp. I did say that foreign demands would overwhelm domestic regulation. As reported in the June 9th Denver Post, Canada and the EU are upset about “America first” stipulations on the use of stimulus funds. We’ll see where that comes out. U. S. taxpayers money, U. S. taxpayers jobs. Plainly, this is not the foreigner’s house. It’s not a good time to be sacrificing U. S. jobs. “Unemployed Congresspeople” has a nice ring to it. Since U. S. taxpayers are on the hook for all that stimulus funny money, giving it away to Canada and Europe would bring on economic storm clouds, at a very inopportune time. In fact, the taxpayers are paying for the jobs of the Federal corporation and every stick of furniture in the place. In fact, fire the whole bunch and let the State legislatures run the place. The farther this crisis goes, the more obvious it becomes that the Federal corporation is pricing itself out of the marketplace.
This is one of those moments when the Globalist agenda is out in the open, for all to see. That indicates enough trouble on the horizon, even if there were no mismanagement and embezzlement. For those gluttons for punishment that still believe in staying on to pay their fair share of the Federal debt, at least speak in terms that can be understood. As long as people insist on underwriting bad debt, they have a proprietary claim on both their jobs and the Federal payroll. If domestic jobs fall by the wayside, it should be Federal jobs that go, first. Accountability without punishment is lawlessness.
Where is it?
My Tag Universe
- Wells Fargo Claws Back Millions From John Stumpf, Carrie L. Tolstedt, Over Account Sales Scandal April 10, 2017“In its report, the board said as of last Friday, it decided to claw back from Mr. Stumpf an additional $28 million of incentive compensation paid in March 2016 under an equity grant made in 2013. In September it announced $41 million in clawbacks from Mr. Stumpf. The board is also clawing back Ms. Tolstedt’s … Read more4closureFraud