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I'm doing my happy dance.... weeeee! Not like I'm selling though. I had 2 friends call me today bitching and moaning about how they should have bought during the time I've been nagging at them when silver was $8 to $13. LOL
Enjoy the ride... still buying on retrace. China buying fueling this market.
Keep an eye on Zero hedge... great articles there.
Who is Franklin Raines?
http://www.barackbook.com/Profiles/FranklinRaines.htm
Insider Patenting: How Fannie Mae Chief Got the Patent for Cap and Trade in 2006
http://biggovernment.com/jbambenek/2010/05/28/insider-patenting-how-fannie-mae-chief-got-the-patent-for-cap-and-trade-in-2006/#more-125826
Just one day after the Democrats seized control of Congress, the Chief Executive of Fannie Mae, Franklin Raines, received the patent for a residential cap-and-trade system (Patent 6904336), What this means is that Raines, along with several colleagues who also “own” the patent, could stand to make huge amounts of money if the cap-and-trade regime was ever brought to the residential marketplace. What does this have to do with Fannie Mae? Absolutely nothing.
To understand the implications, a little discussion about patenting is needed. Patents are basically “ownership” rights to an invention. If you invent something, you can license it to others to produce and collect royalties. Each year, thousands of patents are sent to the US Patent Office for consideration. Many “patent houses” simply put in very general patents so they can turn around and sue businesses later for “stealing” their inventions. Sometimes it’s legit, many times its bogus.
As examples, Amazon holds the patent of “one-click purchasing”. Litigation ensued on that. There’s a patent on a “self-executing webpage” which is the reason why a few years ago Microsoft had to convert Internet Explorer to not automatically play media as soon as someone visited a webpage. (i.e. why you have to click a YouTube video for it to play).
Here is where things get interesting. Cap-and-trade legislation literally creates an asset out of thin air. It requires some means to “value” the asset and some means to trade it. In essence, it would lead to government created assets and trading mechanisms. However, when this patent was awarded and applied for, cap-and-trade was not even on the public radar yet.
It is important to remember a few things. Franklin Raines has privileged access to Congress and politicians. He knew and could talk to them about what they were thinking and what they planned to do. As head of a government corporation, he also had a degree of access to the Patent Office to help “smooth the way” to get a patent.
What happened here has all the marks of “insider patenting”. While technically legal, Raines was able to use inside information to put a patent into place before government action created a new marketplace that would require the creation of this systems. The result would have been huge amounts of cash to him and his “co-inventors” and likely, a few patrons on Capitol Hill as well.
This is also likely the first (and probably not the last) case of apparent insider patenting. As big government grows more and more into industry, insiders like Raines will be able to use advanced knowledge of legislative actions to put himself out in front with patenting and ensure he will make piles of cash. What this shows is that the only innovation big government breeds is innovation in new ways for unethical self-enrichment.
GERMANY'S PARLIAMENT VOTES TO GIVE 66% OF COUNTRY'S ANNUAL INCOME TAX REVENUE TO BANKS ** 123 billion "eurozone" package passed
Friday, 21 May 2010 19:31
Germany’s parliament today passed a bill that will mean that about 66 per cent of the country’s income tax revenue each year will go to banks in the form of interest payments on souvereign dent bonds held by Greece, Portugal and other eurozone nations.
Chancellor Angela Merkel’s centre-right coalition government voted to give 123 billion as Germany’s portion of a 750-billion euro loan guarantee package prepared by the European Union and the International Monetary Fund to enable governments to keep up interest payments to banks on souvereign debt.
The bill was passed by the Bundestag with with 319 "yes" votes, 73 "no" votes and 195 abstentions.
The abstentions came from the center-left opposition Greens and Social Democrats (SPD) and a handful of CDU/CSU and FDP backbenchers.
The 123 billion euro bank package comes on top of the 22.4 billon that Germany’s parliament voted to give Greece two weeks ago.
German taxpayers will, therefore, have to give 145 billion euros or 77% of the country’s annual income tax revenue to the banks in the highly likely event of Greece, Portugal and other countries not being able to meet their souvereign debt interest payments.
A German accountancy website allowing people to calculate what portion of their income tax will go to fund the banks reveals that a man earning 30,000 euros a year, and paying income tax of 5,625 euros, will be giving 3,709 euros to banks as part of the 123 billion eurozone “rescue” package.
He will be giving another 675 euros as part of the 22 billion euro Greek “rescue” package.
Germany spends another 40 billion a year paying interest on its national debts, which were created by the bank bailout and stimulus in the first place.
This means that another 1,200 euros of the 5,625 euros collected in income tax from a man earning 30,000 euros a years goes on interest payments on the national debt.
In this case, a total of 5584 euros or 99% in income tax is being paid directly to banks such as Deutsche Bank and Goldman Sachs by the German government in the form of interest payments on national and international eurozone debts.
As a result of this bill, only 41 euros of the total annual income tax of 5,625 could soon be available for the government to spend on education, pensions, hospitals and welfare and such like.
41 euros is 0.72% of the total income tax paid by a man earning 30,000 euros each year.
The Merkel government has just announced a raft of deep cuts and tax hikes, which will increase the proportion of the country’s income flowing to the banks and accelerate an economic collapse that could be much more severe than the Great Depression of the 1930s.
The transfer of almost the country’s entire tax revenues to the banks shows that the politicians in Germany are working hand in glove with banks to loot the people on an unprecedented scale under the smokescreen created by the mainstream media.
Though sold by the controlled media as “aid for Greece”, none of the money will go to the people of Greece.
The 123 billion euros and 22 billion euro packages will go straight to the banks who hold souvereign debt bonds issued by the Greek and other eurozone debtor governments if these cannot raise enough money.
These same banks have been artificially pushing up the interest rate using credit default swaps to maximize their profits, and Germany’s recent bank on naked short selling will do little to stop this practise.
The way governments and regulators acted together to help banks create paper debt and then transfer gigantic sums to those banks under the guise of having to rescue them and pay interest payments on the rescue loan is the subject of a parliamentary investigation and criminal probes in Iceland. Several bankers have already been arrested.
In the USA, the SEC has launched a criminal probe into Goldman Sachs and Deutsche Bank, among others, for their role in creating property debts, which were then used as a pretext to get tax payer funds.
The credit rating agencies are also under investigation in the USA for fraud.
German prosecutors have asked the boss of Deutsche Bank, Josef Ackermann, to testify on the bank’s role in the bankrupting of IKB, triggering the bank bailout and stimulus packages that vastly increased the national debt.
But Germany is just the latest country to push through its part of the 750 billion eurozone package.
Austria's parliament on Wednesday voted to provide up to euro15 billion in loan guarantees as its share.
In France, the package is set to go parliament on May 31 and is expected to be passed.
Never in recent European history have governments so blatantly looted taxpayers.
If nothing is done to reverse these bills, the economic and social collapse of Germany, Greece and EU nations is inevitable.
Trust me... I like the bling as much as anybody. However, it's just frosting on the cake. I remember being poor too... but somehow you don't notice it with a full belly and a roof over your head. I don't require much to be content... as long as I have sausage, venison, whiskey, a fishing pole and a shotgun.. I'm good. With what's coming, if I keep those simple things, I will consider myself rich.
Did anyone else get out there to experience the exquisite pain of turkey hunting? Sure was tough with the bow... but I learned from my mistakes.
Enjoy your weekend fellas... there's a beef wellington and an Oregon pinot with my name on them.
cheers
The correction, soon to be crash, is here: the market had a bigger relative open to close move today than it did on May 6. We closed at the day's lows on massive volume, despite definitive central bank intervention, regardless whether it was the SNB, the ECB, or the Fed. The central planners have lost control of the market, and all thanks to the inevitable collapse of hyper capitalist Keynesianism coming out of the formerly most communist country in the world. A day of ironies. And it's not over. Futures are already down another 4 handles. The correction is coming, and it will be a bloodbath. The Fed can not push rates lower. It will print. It is inevitable. It is our destiny.
Update: Futures now 7 handles lower. 46 point move in ES: that is almost a 5% move in the S&P for now.
I made 80 pounds of kielbasa, smoked 40 pounds of salmon, 80 pounds of brisket, and salted 40 plus pounds of prosciutto, duck, venison. I've been busy. The still is put together and simmering.... gotta have the essentials. LOL
Anybody remember my post..."Once the DJIA hits 11,000 and healthcare bill "passes"... short it all."?
They can only fake it for so long... they world bank and IMF are getting close to hitting the "reset" button.
The only wild card in this is China.... not sure if they will go along... it will be interesting.
Hunting, fishing, drinking, and otherwise doing my best to live well before the hard stuff really begins. I came to the realization that these criminals will not stop, and do not care what the people think. The destruction of our financial system will be complete. The federalization of medicine will ensure our bankruptcy. This country will make Greece look like a birthday party.... justice will not be served on the banking elite criminals that have tied our dollar to the swirling excrement called the Euro as it circles the bowl. Bernanke stated last week that "we are investing in the Euro". Investing? WTF? Is that your job? To print $1.7 Trillion dollars and doom our economy? This is end stage... the dollar gains strength, commodities hold value, Hillary signing small arms treaty .... it goes on and on. They don't care what Americans think... it doesn't matter how many protests the Tea party has... they don't care what you think. Their plan will be executed.... and the majority will be surprised... shocked... and generally turn into desperate zombies.
LOL... how's your day goin?
This one makes me laugh....
"Fixing the government-sponsored mortgage giants Fannie Mae and Freddie Mac was put off for another day."
http://finance.yahoo.com/news/Congress-OKs-new-bank-rules-apf-2013046634.html?x=0
Hello.... hope everyone is well.
This is the research.... old, completed, done, implemented in the bill.
http://www.fda.gov/downloads/MedicalDevices/DeviceRegulationandGuidance/GuidanceDocuments/ucm072191.pdf
John McCain funded by Soros since 2001
Candidate's Reform Institute also accepted funds from Teresa Kerry
Posted: February 12, 2008
1:00 am Eastern
By Jerome R. Corsi
© 2010 WorldNetDaily
George Soros
As Sen. John McCain assumes the GOP front-runner mantle, his long-standing, but little-noticed association with donors such as George Soros and Teresa Heinz Kerry is receiving new attention among his Republican critics.
In 2001, McCain founded the Alexandria, Va.-based Reform Institute as a vehicle to receive funding from George Soros' Open Society Institute and Teresa Heinz Kerry's Tides Foundation and several other prominent non-profit organizations.
McCain used the institute to promote his political agenda and provide compensation to key campaign operatives between elections.
In 2006, the Arizona senator was forced to sever his formal ties with the Reform Institute after a controversial $200,000 contribution from Cablevision came to light. McCain solicited the donation for the Reform Institute using his membership on the Senate Committee on Commerce, Science, and Transportation. In a letter to the Federal Communications Commission, he supported Cablevision's push to introduce the more profitable al la carte pricing, rather than packages of TV programming.
(Story continues below)
Yet, the Reform Institute still employs the McCain campaign's Hispanic outreach director, Juan Hernandez, as a senior fellow of its Comprehensive Immigration Reform Initiative.
As WND reported, Hernandez serves as a non-paid volunteer for the McCain campaign. A dual Mexican-U.S. citizen, he was a member of former President Vicente Fox's cabinet, representing an estimate 24 million Mexicans living abroad. Hernandez, with a "Mexico first" message, has argued aggressively against building a fence on the Mexican border, insisting the frontier needed to remain wide open so illegal immigrants could easily enter the U.S.
The July 6, 2001, homepage of the Reform Institute archived on the Internet lists founder McCain as chairman of the group's advisory committee.
Prominent senior officials on the McCain 2008 presidential campaign staff found generously paid positions at the Reform Institute following the senator's unsuccessful run for the White House in 2000.
Rick Davis, McCain's current campaign manager, was paid $110,000 a year by the Reform Institute for a consulting position, according to the group's 2003 Form 990 filing with the IRS.
In 2004, Davis advanced to the position of Reform Institute president, with an annual salary of $120,000, according to the group's 2004 Form 990.
In 2005, Davis remained president, but his salary dropped back to $45,000 a year, with a time commitment of five hours per week, according the 2005 Form 990.
Carla Eudy, a senior advisor on McCain's 2008 presidential campaign who until recently headed fundraising, was paid $177,885 in 2005 to serve as the Reform Institute's secretary-treasurer.
Other McCain presidential campaign staffers who have found employment at the Reform Institute include Trevor Potter, McCain's 2000 legal counsel, and Crystal Benton, the senator's former press secretary, who served as institute's communications director in 2005 for an annual salary of $52,083.
The Reform Institute regularly has supported McCain in various legislative efforts, including on campaign finance reform, global warming and "comprehensive immigration reform," all efforts widely opposed by many in the party's conservative base.
Arianna Huffington, syndicated columnist and creator of the HuffingtonPost.com, has served on the Reform Institute's advisory committee since the group's inception.
According to FrontPage Magazine, Teresa Heinz Kerry has provided more than $4 million to the Tides Foundation, a non-profit organization founded by anti-war activist Drummond Pike in 1976 with a history of funding causes such as abortion, homosexual-rights activism and open borders.
Financial contributors while McCain was chairman of the Reform Institute also have included the Educational Foundation of America, a group that supports abortion and opposes drilling in the Arctic National Wildlife Reserve.
The Soros-Kerry funding connection with McCain was first exposed by Ed Morrissey at the Captains Quarters blog in 2005.
Subsequently, David Horowitz's DiscoverTheNetworks.org website and Michelle Malkin's blog gave renewed attention to the Reform Institute's funding ties.
it's in the bill.... what do you think it means? I could be forced to use my skills in an underserved area.. by a civilian force that will impose the will of the administration.
NEJM says 42% primary care doctors will leave the profession.... will they be allowed to?
Obama just got his private army…
…And no one seems to have noticed. It is buried in the Senate revisions to the health care bill.
Subtitle C–Increasing the Supply of the Health Care Workforce
Sec. 5201. Federally supported student loan funds.
Sec. 5202. Nursing student loan program.
Sec. 5203. Health care workforce loan repayment programs.
Sec. 5204. Public health workforce recruitment and retention programs.
Sec. 5205. Allied health workforce recruitment and retention programs.
Sec. 5206. Grants for State and local programs.
Sec. 5207. Funding for National Health Service Corps.
Sec. 5208. Nurse-managed health clinics.
Sec. 5209. Elimination of cap on commissioned corps.
Sec. 5210. Establishing a Ready Reserve Corps.
Subtitle D–Enhancing Health Care Workforce Education and Training
See the Patient Protection Affordable Care Act, page 1312:
SEC. 5210. ESTABLISHING A READY RESERVE CORPS.
Section 203 of the Public Health Service Act (42 U.S.C. 204) is amended to read as follows:
SEC. 203. COMMISSIONED CORPS AND READY RESERVE CORPS.
(a) ESTABLISHMENT–
(1) IN GENERAL.–here shall be in the Service a commissioned Regular Corps and a Ready Reserve Corps for service in time of national emergency.
(2) REQUIREMENT.–All commissioned officers shall be citizens of the United States and shall be appointed without regard to the civil-service laws and compensated without regard to the Classification Act 2 of 1923, as amended.
(3) APPOINTMENT.–Commissioned officers of the Ready Reserve Corps shall be appointed by the President and commissioned officers of the Regular Corps shall be appointed by the President with the advice and consent of the Senate.
(4) ACTIVE DUTY.–Commissioned officers of the Ready Reserve Corps shall at all times be subject to call to active duty by the Surgeon General, including active duty for the purpose of training.
(5) WARRANT OFFICERS.–Warrant officers may be appointed to the Service for the purpose of providing support to the health and delivery systems maintained by the Service and any warrant officer appointed to the Service shall be considered for purposes of this Act and title 37, United States Code, to be a commissioned officer within the Commissioned Corps of the Service.
(b) ASSIMILATING RESERVE CORP OFFICERS INTO THE REGULAR CORPS.—Effective on the date of enactment of the Affordable Health Choices Act, all individuals classified as officers in the Reserve Corps under this section (as such section existed on the day before the date of enactment of such Act) and serving on active duty shall be deemed to be commissioned officers of the Regular Corps.
[Note here that those personally appointed by BO -- without advice and consent of the Senate -- automatically become a part of the Regular Corps. Ed.]
(c) PURPOSE AND USE OF READY RESERVE.–
(1) PURPOSE.–The purpose of the Ready Reserve Corps is to fulfill the need to have additional Commissioned Corps personnel available on short notice (similar to the uniformed service’s reserve program) to assist regular Commissioned Corps personnel to meet both routine public health and emergency response missions.
(2) USES.–The Ready Reserve Corps shall–
(A) participate in routine training to meet the general and specific needs of the Commissioned Corps;
(B) be available and ready for involuntary calls to active duty during national emergencies and public health crises, similar to the uniformed service reserve personnel;
(C) be available for backfilling critical positions left vacant during deployment of active duty Commissioned Corps members, as well as for deployment to respond to public health emergencies, both foreign and domestic; and
(D) be available for service assignment in isolated, hardship, and medically underserved communities (as defined in section 399SS) to improve access to health services.
(d) FUNDING.—For the purpose of carrying out the duties and responsibilities of the Commissioned Corps under this section, there are authorized to be appropriated such sums as may be necessary to the Office of the Surgeon General for each of fiscal years 2010 through 2014. Funds appropriated under this subsection shall be used for recruitment and training of Commissioned Corps Officers.
Check it... it's in there. You decide if this gives you a nice warm fuzzy feeling.
However... like Zimbabwe.. no one is buying our bonds. The Fed buys them back in a week. The ultimate Ponzi.... when will it fail? When they want it to. When they lose control... when they need to take control. Would they do it right before the next Presidential election? Hmmm... a financial emergency that necessitates a stalling of the electoral process by executive order.
Salt Ban For Restaurants? Lawmaker Introduces Bill To Kill Salt
Huffington Post Updated: 03-10-10 09:17 PM
One Brooklyn lawmaker wants to take some flavor out of your food.
Assemblyman Felix Ortiz (D-Brooklyn) has proposed a bill that "prohibits the use of salt by restaurants in the preparation of food by restaurants."
Bill A10129 calls for fining a-salters $1000 for flouting the law.
New York has already successfully banned trans fats from restaurants and local politicians are weighing a tax on soda, so shaking the salt out of kitchens may not be such a far-fetched idea.
I hope everyone is short... this is gonna kill our economy... hello European Socialism.
"I think we are now on the path to nationalized health care. The health insurance companies are becoming utilities as of tomorrow. And I think in the end because of the huge amount of debt that's going to result, we are going to have, as in Europe, a national sales tax... it's going to be the only remedy for the huge... deficits that this and our other programs are going to cost. This is going to be huge change in American life, and I think it starts with this bill here tonight."
- Charles Krauthammer
Hope everyone is short... we are officially gonna announce our country's bankruptcy within our lifetimes. Scary stuff.
Chew on this one guys..... good stuff.
http://www.perfecteconomy.com/
Yeah ... this turd.
MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.
What a whack job.
http://mosler2012.com/
...and people actually like this guy. Join his Facebook page and hurl epithets... or better yet, start a "Mosler Is An Idiot" page.
It's much less confrontational and damaging to their child to call corporate office and complain than by saying "no thank you" to the ice cream. We would not want little Johnny to think we were parents or anything. That's priceless.
Welcome to European Socialism... I swear that the Progressives think Americans are too stupid to breathe. FEAR FEAR FEAR FEAR... then they try to change policy.
GET THIS... they want warning labels on hot dogs... cuz the parents of 77 children each year in this country don't have common sense, and don't know how to perform the Heimlich.
Lawyers are ruining this country. Everything you buy costs more because of this garbage. The shirt you are wearing costs more because the bag it came in was required to have the printing "Do not place over the head. Risk of suffocation." Is this aimed at babies? No... they can't read. If an adult puts it over their own head and die... well that's called "Natural Selection."
I have a choke proof hot dog for you... it's called a baloney sandwich. Problem solved... you can send me a check for the millions of dollars this process is going to cost.
http://www.usatoday.com/news/health/2010-02-22-1Achoke22_ST_N.htm
Pediatricians call for a choke-proof hot dog
By Liz Szabo, USA TODAY
Nutritionists have long warned of the perils of hot dogs: fat, sodium and preservatives to name a few.
Now, the American Academy of Pediatrics wants foods like hot dogs to come with a warning label — not because of their nutritional risks but because they pose a choking hazard to babies and children.
Better yet, the academy would like to see foods such as hot dogs "redesigned" so their size, shape and texture make them less likely to lodge in a youngster's throat. More than 10,000 children under 14 go to the emergency room each year after choking on food, and up to 77 die, says the new policy statement, published online today in Pediatrics. About 17% of food-related asphyxiations are caused by hot dogs.
"If you were to take the best engineers in the world and try to design the perfect plug for a child's airway, it would be a hot dog," says statement author Gary Smith, director of the Center for Injury Research and Policy at Nationwide Children's Hospital in Columbus, Ohio. "I'm a pediatric emergency doctor, and to try to get them out once they're wedged in, it's almost impossible."
The Consumer Product Safety Commission requires labels on toys with small parts alerting people not to give them to kids under 3. Yet there are no required warnings on food, though more than half of non-fatal choking episodes involve food, Smith says.
"No parents can watch all of their kids 100% of the time," Smith says. "The best way to protect kids is to design these risks out of existence."
Though Smith says he doesn't know exactly how someone would redesign a hot dog, he's certain that some savvy inventor will find a way.
Janet Riley, president of the National Hot Dog & Sausage Council, supports the academy's call to better educate parents and caregivers about choking prevention. "Ensuring the safety of the foods we service to children is critically important for us," Riley says.
But Riley questions whether warning labels are needed. She notes that more than half of hot dogs sold in stores already have choking-prevention tips on their packages, advising parents to cut them into small pieces. "As a mother who has fed toddlers cylindrical foods like grapes, bananas, hot dogs and carrots, I 'redesigned' them in my kitchen by cutting them with a paring knife until my children were old enough to manage on their own," Riley says.
The Food and Drug Administration, which has authority to recall products it considers "unfit for food," plans to review the new statement, spokeswoman Rita Chappelle says.
Given the health risks of obesity, pediatrician Alan Greene, author of Feeding Baby Green, says, "The last thing we need is to redesign candy and junk food with cool shapes, so we can give them to kids even younger."
hey wick and all... hope all is going well... critical time here in the market... barely holding at support. Silver is still a good look.
P.C.
Your sentiments and character are a testament to the greatest generation of Americans to have walked our nation's fertile soil. The sacrifices and blood shed for humanitarian causes as executed by our Government are well documented, yet are being used to degrade the pride and history of an America that is being forced to apologize for the decisions made according to the long term insidious plans of the few in power.
It's very difficult to accept that our financial gains in this world, obtained through hard work, family values, and military sacrifice, are merely a well dressed prison... an existence that we have been allowed to have... a faux freedom that kept us fat and happy while the dark forces in this world play us like pawns in a game so complex that we never knew we were playing; only to be reduced to a worker bee in the hive.
For now, we still must enjoy the fruits of our labors, the time with our children, and celebrate the history of our great independence, while teaching our children about the importance of faith, family, and freedom. Never let your children and grandchildren forget that we are only 2 steps off that boat that brought us to this great land.
Today, I get to spend the day with my daughter making a snow man, while my home made kielbasa matures in the smoker, and the kraut sours in the barrel. When my hands are dusted in the flour this evening as I make my Grandmother's peirogies.. I will tell my daughter about the family she was never blessed to meet.. and of the sacrifices they made to get me where I am today. She will eat the food of her forefather's... and sleep in peace, full in the belly, with the beautiful dreams that all children should have... for they may be entering the time of nightmare's that no one should experience... but by the Word has been promised to this world.
As I close my evening with a tumbler of aged scotch, I can only wonder how long this will last. How hard should one fight to obtain the privilege of a meal and good drink? How much is this struggle worth..... yak se mash?
It's all one big gamble.... when it all comes unraveled, it will do so with such swiftness that paper could be useless overnight.
I was day-trading on that fateful day back in October of 2008, when the market crashed down into the 6K's. I had puts on the DJI, and all of the major financials. I was up $90,000 and was just starting to unload my puts when I was locked out of my trade account.... for 4 HRS! The market continued to tank... then slowed down and bounced back 1000 points. I was not permitted to realize my profits.
I placed phone calls and IM's to 7 other traders at that time... all retail trade accounts were locked out of their accounts as well... all except the MM's. The brakes were put on the free fall that Friday morning.
Within 7 days the Government explained that they had pulled the plug on the financial system, and Biden even said that they nearly enacted what he called a "bank holiday." That is, they were going to freeze ALL financial transactions for a week, or for long as it took to figure out what to do. That means that no one would have been able to withdraw any money from their bank accounts, swipe a credit card or check card, trade securities of any kind, etc., etc.
Imagine what panic that would cause. How would people buy food or fuel? What confidence would any one have in our dollar or economy?
Since that time, banks have been permitted to fail, GM bond holders were illegally defaulted to accept 27 cents on their dollar by direct order of the President, while other financial institutions have been awarded our tax dollars with bonuses, Barney Frank gets more funding for Freddie and Fannie to own 60% of America's homes... and on and on.
My point is that paper promises are absolutely useless. Electronic currency and stocks are one keystroke away from being deleted or halted should it serve the purposes of the power elite. Cash, ETF's, certificates, bonds, money markets, 401 K's.... none hold any innate value in and of themselves. They are worth whatever the economic system derives them to be... and if it be nothing, 27 cents, whatever... then that's it.
Everything that physically holds no value should simply be used as a trading tool to allow one to gain durable goods and physical precious metals IMO. It's now a game of who blinks first.
I believe that there is a plan in progress... and the security and lives of everyday Americans are not of value when compared to the goals of global corruption. It's all baby steps to dominance, there will be acceptable casualties... both in lives and private equity. The individual will be no more, with freedom and financial independence being the right to a few.
Play the game as long as you can, but learn how to do things that will provide you food and shelter. Buy durable goods while the dollar still has some value... if I'm wrong, then you will have bought items that you can use in face of the coming inflation, as a roll of toilet paper can be a purchase that provides a 300% return on investment if stagflation comes... and it will. BO is now an "agnostic" when it comes to tax increases on EVERY American.
Start here (see list below)..... you'll sleep better at night. It may be the best $5K you've ever spent. My wife gets it now.... I'll go from "crazy" to the "genius that I married" overnight should our debt collapse mysteriously in an instant like Tower #7.... for "no apparent reason." A few dings on the outside structure, and the only steel structured building in history that collapsed due to fire, but that's another story...
http://www.youtube.com/watch?v=iEuJimaumW4
I have spent the last 2 years training vigorously for the trials ahead. If anything, no one can afford to get sick because Medicare will not be there for my generation... and I can be dropped butt-naked with a buck knife into any forest and still survive with a reasonable existence.
We have discussed the science of economics that are destroying our currency... I do not believe that it can be stopped. I pray that I am wrong.
100 Items to Disappear First
1. Generators (Good ones cost dearly. Gas storage, risky. Noisy...target of thieves; maintenance etc.)
2. Water Filters/Purifiers
3. Portable Toilets
4. Seasoned Firewood. Wood takes about 6 - 12 months to become dried, for home uses.
5. Lamp Oil, Wicks, Lamps (First Choice: Buy CLEAR oil. If scarce, stockpile ANY!)
6. Coleman Fuel. Impossible to stockpile too much.
7. Guns, Ammunition, Pepper Spray, Knives, Clubs, Bats & Slingshots.
8. Hand-can openers, & hand egg beaters, whisks.
9. SALT.. YOU CANNOT HAVE ENOUGH(for preserving and seasoning, your dead without it), Honey/Syrups/white, brown sugar
10. Rice - Beans - Wheat
11. Vegetable Oil (for cooking) Without it food burns/must be boiled etc.,)
12. Charcoal, Lighter Fluid (Will become scarce suddenly)
13. Water Containers (Urgent Item to obtain.) Any size. Small: HARD CLEAR PLASTIC ONLY - note - food grade if for drinking.
14. Mini Heater head (Propane) (Without this item, propane won't heat a room.)
15. Grain Grinder (Non-electric)
16. Propane Cylinders (Urgent: Definite shortages will occur.
17. Survival Guide Book.
18. Mantles: Aladdin, Coleman, etc. (Without this item, longer-term lighting is difficult.)
19. Baby Supplies: Diapers/formula. ointments/aspirin, etc.
20. Washboards, Mop Bucket w/wringer (for Laundry)
21. Cookstoves (Propane, Coleman & Kerosene)
22. Vitamins
23. Propane Cylinder Handle-Holder (Urgent: Small canister use is dangerous without this item)
24. Feminine Hygiene/Haircare/Skin products.
25. Thermal underwear (Tops & Bottoms)
26. Bow saws, axes and hatchets, Wedges (also, honing oil)
27. Aluminum Foil Reg. & Heavy Duty (Great Cooking and Barter Item)
28. Gasoline Containers (Plastic & Metal)
29. Garbage Bags (Impossible To Have Too Many).
30. Toilet Paper, Kleenex, Paper Towels
31. Milk - Powdered & Condensed (Shake Liquid every 3 to 4 months)
32. Garden Seeds (Non-Hybrid) (A MUST)
33. Clothes pins/line/hangers (A MUST)
34. Coleman's Pump Repair Kit
35. Tuna Fish (in oil)
36. Fire Extinguishers (or..large box of Baking Soda in every room)
37. First aid kits
38. Batteries (all sizes...buy furthest-out for Expiration Dates)
39. Garlic, spices & vinegar, baking supplies
40. Big Dogs (and plenty of dog food)
41. Flour, yeast & salt
42. Matches. {"Strike Anywhere" preferred.) Boxed, wooden matches will go first
43. Writing paper/pads/pencils, solar calculators
44. Insulated ice chests (good for keeping items from freezing in Wintertime.)
45. Workboots, belts, Levis & durable shirts
46. Flashlights/LIGHTSTICKS & torches, "No. 76 Dietz" Lanterns
47. Journals, Diaries & Scrapbooks (jot down ideas, feelings, experience; Historic Times)
48. Garbage cans Plastic (great for storage, water, transporting - if with wheels)
49. Men's Hygiene: Shampoo, Toothbrush/paste, Mouthwash/floss, nail clippers, etc
50. Cast iron cookware (sturdy, efficient)
51. Fishing supplies/tools
52. Mosquito coils/repellent, sprays/creams
53. Duct Tape
54. Tarps/stakes/twine/nails/rope/spikes
55. Candles
56. Laundry Detergent (liquid)
57. Backpacks, Duffel Bags
58. Garden tools & supplies
59. Scissors, fabrics & sewing supplies
60. Canned Fruits, Veggies, Soups, stews, etc.
61. Bleach (plain, NOT scented: 4 to 6% sodium hypochlorite)
62. Canning supplies, (Jars/lids/wax)
63. Knives & Sharpening tools: files, stones, steel
64. Bicycles...Tires/tubes/pumps/chains, etc
65. Sleeping Bags & blankets/pillows/mats
66. Carbon Monoxide Alarm (battery powered)
67. Board Games, Cards, Dice
68. d-con Rat poison, MOUSE PRUFE II, Roach Killer
69. Mousetraps, Ant traps & cockroach magnets
70. Paper plates/cups/utensils (stock up, folks)
71. Baby wipes, oils, waterless & Antibacterial soap (saves a lot of water)
72. Rain gear, rubberized boots, etc.
73. Shaving supplies (razors & creams, talc, after shave)
74. Hand pumps & siphons (for water and for fuels)
75. Soysauce, vinegar, bullions/gravy/soupbase
76. Reading glasses
77. Chocolate/Cocoa/Tang/Punch (water enhancers)
78. "Survival-in-a-Can"
79. Woolen clothing, scarves/ear-muffs/mittens
80. Boy Scout Handbook, / also Leaders Catalog
81. Roll-on Window Insulation Kit (MANCO)
82. Graham crackers, saltines, pretzels, Trail mix/Jerky
83. Popcorn, Peanut Butter, Nuts
84. Socks, Underwear, T-shirts, etc. (extras)
85. Lumber (all types)
86. Wagons & carts (for transport to and from)
87. Cots & Inflatable mattress's
88. Gloves: Work/warming/gardening, etc.
89. Lantern Hangers
90. Screen Patches, glue, nails, screws,, nuts & bolts
91. Teas
92. Coffee
93. Cigarettes
94. Wine/Liquors (for bribes, medicinal, etc,)
95. Paraffin wax
96. Glue, nails, nuts, bolts, screws, etc.
97. Chewing gum/candies
98. Atomizers (for cooling/bathing)
99. Hats & cotton neckerchiefs
100. Goats/chickens
From a Sarajevo War Survivor:
Experiencing horrible things that can happen in a war - death of parents and
friends, hunger and malnutrition, endless freezing cold, fear, sniper attacks.
1. Stockpiling helps. but you never no how long trouble will last, so locate
near renewable food sources.
2. Living near a well with a manual pump is like being in Eden.
3. After awhile, even gold can lose its luster. But there is no luxury in war
quite like toilet paper. Its surplus value is greater than gold's.
4. If you had to go without one utility, lose electricity - it's the easiest to
do without (unless you're in a very nice climate with no need for heat.)
5. Canned foods are awesome, especially if their contents are tasty without
heating. One of the best things to stockpile is canned gravy - it makes a lot of
the dry unappetizing things you find to eat in war somewhat edible. Only needs
enough heat to "warm", not to cook. It's cheap too, especially if you buy it in
bulk.
6. Bring some books - escapist ones like romance or mysteries become more
valuable as the war continues. Sure, it's great to have a lot of survival
guides, but you'll figure most of that out on your own anyway - trust me, you'll
have a lot of time on your hands.
7. The feeling that you're human can fade pretty fast. I can't tell you how many
people I knew who would have traded a much needed meal for just a little bit of
toothpaste, rouge, soap or cologne. Not much point in fighting if you have to
lose your humanity. These things are morale-builders like nothing else.
8. Slow burning candles and matches, matches, matches
Chrysler's Railroad
This could be a scandal of epic proportions and one that makes Nixon's Watergate or Clinton 's Monica Lewinsky affair pale by comparison.
Why was there neither rhyme nor reason as to which dealerships of the Chrysler Corporation were to be closed? Roll the clock back to the weeks just before Chrysler declared bankruptcy. Chrysler, like GM, was in dire financial straits and federal government graciously offered to "buy the company" and keep them out of bankruptcy and "save jobs." Chrysler was, in the words of Obama and his administration, "too big to fail," same story with GM.
The feds organized their "Automotive Task Force" to fix Chrysler and GM. Obama, in an act that is 100% unconstitutional, appointed a guy named Steve Rattner to be the White House's official Car Czar- literally, that's what his title is. Rattner is the liaison between Obama, Chrysler, and GM.
Initially, the national media reported that Chrysler had made this list of dealerships. That is not true. The Washington Examiner, Newsmax, Fox New and a host of other news agencies discovered that the list of dealerships was put together by the "Automotive Task Force" headed by no one other than Mr. Steve Rattner. Now the plot thickens.
Remember earlier we said earlier that there was neither rhyme nor reason why certain dealerships were closed? Actually there's a very interesting pattern as to who was closed down. Again, on May 27, 2009, The Washington Examiner and Newsmax exposed the connection.
Amazingly, of the 789 dealerships closed by the federal government
788 had donated money, exclusively, to Republican political causes, while contributing nothing to Democratic political causes. The only "Democratic" dealership on the list was found to have donated $7,700 to Hillary's campaign, and a bit over $2,000 to John Edwards. This same dealership, reportedly, also gave $200 to Obama's campaign. Does that seem a little odd to you?
Steve Rattner, the guy who put the list together. Well, he happens to be married to a woman named Maureen White, who happens to be the former national finance chairman of the Democratic National Committee. As such, she would have access to campaign donation records from everyone in the nation, Republican or Democrat. But of course, this is just a wacky coincidence, we're certain.
Then comes another really wacky coincidence. On that list of dealerships being closed down, a weird thing happen in Arkansas , North Louisiana, and Southern Missouri .
It seems that Bill Clinton's former White House Chief of Staff, Mack McClarty, owns a chain of dealerships in that region, partnered with a fellow by the name of Robert Johnson. Johnson happens to be founder of Black Entertainment Television and was a huge Obama supporter and financier. These guys own a half dozen Chrysler stores under the company title of RLJ-McClarty-Landers.
Interestingly, none of their dealerships were ordered closed - not one- while all of their competing Chrysler/Dodge and Jeep dealership were!
Eight dealerships located near the dealerships owned by McClarty and Johnson were ordered shut down. Thus, by pure luck, these two major Obama supporters now have virtual monopoly on Chrysler sales in their zone. Isn't that amazing? Go look in The Washington Examiner, the story's there, and it's in a dozen or so other web-based news organization, this isn't being made up.
Now if you thought Chrysler was owned by Fiat, you are mistaken.
Under the federal court ruling, 65% of Chrysler is now owned by the federal government and the United Auto Workers union- Fiat owns 20%. The other 15% is still privately owned and presumably will be traded on the stock market.
Obama smiles and says he doesn't want to run the auto industry.
As horrifying as this is to comprehend, and being as how this used to be the United States of America , it would appear that the president has the power to destroy private businesses and eliminate upwards of 100,000 jobs, just because they don't agree with his political agenda.. This is Nazi Germany stuff, and it's happening right here, right now, in your back yard.
There are voices in Washington demanding an explanation, but the "Automotive Task Force" has released no information to the public or any of the senators demanding answers for what has been done. Keep your ear to the ground for more on this story. If you've ever wanted to make a difference about anything in your life, get on the phone to your national senator or representative in the House and demand an investigation on this.
Benjamin Franklin had it right when he said, "All that's necessary for evil to triumph is for good men to do nothing."
Car Czar No More
An amazing thing happened as this story was going to press. Obama's Car Czar, Steve Rattner, resigned on July 13 and was promptly replaced by former steel workers union boss Ron Bloom. According to CBS News, Rattner left "to return to private life and spend time with his family." Treasure Secretary Tim Geithner said, "I hope that he takes another opportunity to bring his unique skills to government service in the future." By the way, Rattner is under investigation for a multi-million dollar pay-to-play investment bank scandal in New York . Uh-oh! But, we're certain that had nothing to do with his resignation.
And, according to several news sources out there, there are rumors he's being investigated for what could be pay-to-play scandal involving the closing of Chrysler and GM dealerships. Again, that couldn't have anything to with his resignation- that's ridiculous! Like CBS said, this guy just wants to spend more quality time with his family. Obama has 32 personally appointed "czars" that answer to no one but him, all of whom are acting without any Constitutional authority. But hey, we're sure they all have "unique skills," as Tim Geithner likes to say.
Forget Greece, the US Almost Had a Failed Treasury Auction
While most of the investment world focuses on the
various ”senior officials” (none of whom seem to have
actual names or positions) commenting on whether
Greece will or will not be bailed out/ receive an
emergency loan/ offered moral support, etc, a far more
significant debt story is emerging in the US.
On Wednesday the US offered $16 billion worth of 30-year
Treasuries (US debt that will mature in 30 years). Before
we get into the details of how much of a disaster the auction
was we’re going to do a brief review of how US debt issuances
work.
US Debt is issued by the US Treasury. You can bid as much
as 30 days in advance of a debt auction. When the auction
actually takes place investors can buy directly (Direct Buyers)
by buying Treasuries themselves OR they can buy indirectly
(Indirect Buyers) by using a Primary Dealer: one of 18 Banks
and Securities Brokers who do business directly with the
US Federal Reserve Bank of NY and so HAVE to buy
Treasuries at auctions to insure liquidity.
---------------------------------------------------
Are You Ready for the Sovereign Default
Crisis?
The markets initially collapsed when Greece
almost defaulted on its debt.
But the Greek economy is only $354 billion
roughly that of the state of Massachusetts.
Imagine what will happen when Spain,
Ireland, Italy, Portugal, the UK and possibly
even the US default?
The US almost had a FAILED Treasury
auction just this week. And we've got
TRILLIONS in new debt issuance on deck
just for 2010.
Direct buyers buy “off the radar” meaning you
cannot track who the buyer is.
If an investor buys indirectly, he or she has to
notify the Primary Dealer of his/her intentions in
advance. This might sound a bit like showing your
hand while playing poker. And it is. The only
reason to go through a Primary Dealer (make an
Indirect Purchase) is because you want to buy a
sizable load of Treasuries (remember, Primary
Dealers have a special relationship with the Fed
and so can insure you get the amount you require).
Historically, Foreign Governments (China, Japan, etc)
have made up the majority of Treasury purchases.
Because of this, the Indirect Buyer purchases are
typically thought to represent just how demand
Foreign Governments have for US debt.
Glenn Beck... friend or shill?
OK... so Glenn Beck is the only one in the media that asked the "truther question" to Debra Medina who is running in the Texas race? Then he, and Fox, and the liberal media are crucifying this woman for stating that more information is needed to see why the Towers fell. Glenn states that his question was "Did the United States Government blow up the World Trade Center?".... the quickest response any "sane" American should give according all media (conservative and liberal) is "NO!", and only "NO!" However... saying, "No, I don't think so, but more questions need to be asked, and more investigations need to take place" is apparently not the "right" answer. Now... she will be crucified. All for having independent thought... and asking for more investigation via the scientific method.
Glenn Beck also states that he doesn't believe in global warming, because the science doesn't add up. I agree... I don't believe that it does either. I don't believe the US Government is responsible for the Towers falling.... but, science doesn't support that 2 jets with jet fuel alone were enough to take down 2 buildings that were specifically designed to withstand jet collisions.
So what is wrong with asking for more answers? Why is the US Government not answering legitimate scientific questions? Maybe this scientific analysis will spark more independent thought... but be careful how smart you get.
Glenn needs to examine the science... not just be an escape valve for disgruntled Americans, using his popular position to stifle "dangerous" free thought.
Again... I'm not trying to place blame about who participated in the Towers collapse... I don't want to believe that our Government was involved... I just want it to make sense from a scientific perspective... but, jet fuel doesn't even burn at half the temperature to weaken the building materials of the Towers. This material is dry... your eyes may glaze over... but give it some thought... because Glenn just shot it down without ever discussing the science behind the question.
THE JET FUEL; HOW HOT DID IT HEAT THE WORLD TRADE CENTER?
The Federal Emergency Management Agency (FEMA) report into collapse of the WTC towers, estimates that about 3,500 gallons of jet fuel burnt within each of the towers. Imagine that this entire quantity of jet fuel was injected into just one floor of the World Trade Center, that the jet fuel burnt with perfect efficency, that no hot gases left this floor, that no heat escaped this floor by conduction and that the steel and concrete had an unlimited amount of time to absorb all the heat. With these ideal assumptions we calculate the maximum temperature that this one floor could have reached.
"The Boeing 767 is capable of carrying up to 23,980 gallons of fuel and it is estimated that, at the time of impact, each aircraft had approximately 10,000 gallons of unused fuel on board (compiled from Government sources)."
Quote from the FEMA report into the collapse of WTC's One and Two (Chapter Two).
Since the aircraft were only flying from Boston to Los Angeles, they would have been nowhere near fully fueled on takeoff (the aircraft have a maximum range of 7,600 miles). They would have carried just enough fuel for the trip together with some safety factor. Remember, that carrying excess fuel means higher fuel bills and less paying passengers. The aircraft would have also burnt some fuel between Boston and New York.
"If one assumes that approximately 3,000 gallons of fuel were consumed in the initial fireballs, then the remainder either escaped the impact floors in the manners described above or was consumed by the fire on the impact floors. If half flowed away, then 3,500 gallons remained on the impact floors to be consumed in the fires that followed."
Quote from the FEMA report into the collapse of WTC's One and Two (Chapter Two).
What we propose to do, is pretend that the entire 3,500 gallons of jet fuel was confined to just one floor of the World Trade Center, that the jet fuel burnt with the perfect quantity of oxygen, that no hot gases left this floor and that no heat escaped this floor by conduction. With these ideal assumptions (none of which were meet in reality) we will calculate the maximum temperature that this one floor could have reached. Of course, on that day, the real temperature rise of any floor due to the burning jet fuel, would have been considerably lower than the rise that we calculate, but this estimate will enable us to demonstrate that the "official" explanation is a lie.
Note that a gallon of jet fuel weighs about 3.1 kilograms, hence 3,500 gallons weighs 3,500 x 3.1 = 10,850 kgs.
Jet fuel is a colorless, combustible, straight run petroleum distillate liquid. Its principal uses are as an ingredient in lamp oils, charcoal starter fluids, jet engine fuels and insecticides.
It is also know as, fuel oil #1, kerosene, range oil, coal oil and aviation fuel.
It is comprised of hydrocarbons with a carbon range of C9 - C17. The hydrocarbons are mainly alkanes CnH2n+2, with n ranging from 9 to 17.
It has a flash point within the range 42° C - 72° C (110° F - 162° F).
And an ignition temperature of 210° C (410° F).
Depending on the supply of oxygen, jet fuel burns by one of three chemical reactions:
(1) CnH2n+2 + (3n+1)/2 O2 => n CO2 + (n + 1) H2O
(2) CnH2n+2 + (2n+1)/2 O2 => n CO + (n + 1) H2O
(3) CnH2n+2 + (n+1)/2 O2 => n C + (n + 1) H2O
Reaction (1) occurs when jet fuel is well mixed with air before being burnt, as for example, in jet engines.
Reactions (2) and (3) occur when a pool of jet fuel burns. When reaction (3) occurs the carbon formed shows up as soot in the flame. This makes the smoke very dark.
In the aircraft crashes at the World Trade Center, the impact (with the aircraft going from 500 or 600 mph to zero) would have throughly mixed the fuel that entered the building with the limited amount of air available within. In fact, it is likely that all the fuel was turned into a flammable mist. However, for sake of argument we will assume that 3,500 gallons of the jet fuel did in fact form a pool fire. This means that it burnt according to reactions (2) and (3). Also note that the flammable mist would have burnt according to reactions (2) and (3), as the quantity of oxygen within the building was quite limited.
Since we do not know the exact quantities of oxygen available to the fire, we will assume that the combustion was perfectly efficient, that is, that the entire quantity of jet fuel burnt via reaction (1), even though we know that this was not so. This generous assumption will give a temperature that we know will be higher than the actual temperature of the fire attributable to the jet fuel.
We need to know that the (net) calorific value of jet fuel when burnt via reaction (1) is 42-44 MJ/kg. The calorific value of a fuel is the amount of energy released when the fuel is burnt. We will use the higher value of 44 MJ/kg as this will lead to a higher maximum temperature than the lower value of 42 (and we wish to continue being outrageously generous in our assumptions).
For a cleaner presentation and simpler calculations we will also assume that our hydrocarbons are of the form CnH2n. The dropping of the 2 hydrogen atoms does not make much difference to the final result and the interested reader can easily recalculate the figures for a slightly more accurate result. So we are now assuming the equation:
(4) CnH2n + 3n/2 O2 => n CO2 + n H2O
However, this model, does not take into account that the reaction is proceeding in air, which is only partly oxygen.
Dry air is 79% nitrogen and 21% oxygen (by volume). Normal air has a moisture content from 0 to 4%. We will include the water vapor and the other minor atmospheric gases with the nitrogen.
So the ratio of the main atmospheric gases, oxygen and nitrogen, is 1 : 3.76. In molar terms:
Air = O2 + 3.76 N2.
Because oxygen comes mixed with nitrogen, we have to include it in the equations. Even though it does not react, it is "along for the ride" and will absorb heat, affecting the overall heat balance. Thus we need to use the equation:
(5) CnH2n + 3n/2(O2 + 3.76 N2) => n CO2 + n H2O + 5.64n N2
From this equation we see that the molar ratio of CnH2n to that of the products is:
CnH2n : CO2 : H2O : N2 = 1 : n : n : 5.64n moles
= 14n : 44n : 18n : 28 x 5.64n kgs
= 1 : 3.14286 : 1.28571 : 11.28 kgs
= 31,000 : 97,429 : 39,857 : 349,680 kgs
In the conversion of moles to kilograms we have assumed the atomic weights of hydrogen, carbon, nitrogen and oxygen are 1, 12, 14 and 16 respectively.
Now each of the towers contained 96,000 (short) tons of steel. That is an average of 96,000/117 = 820 tons per floor. Lets suppose that the bottom floors contained roughly twice the amount of steel of the upper floors (since the lower floors had to carry more weight). So we estimate that the lower floors contained about 1,100 tons of steel and the upper floors about 550 tons = 550 x 907.2 ˜ 500,000 kgs. We will assume that the floors hit by the aircraft contained the lower estimate of 500,000 kgs of steel. This generously underestimates the quantity of steel in these floors, and once again leads to a higher estimate of the maximum temperature.
Each story had a floor slab and a ceiling slab. These slabs were 207 feet wide, 207 feet deep and 4 (in parts 5) inches thick and were constructed from lightweight concrete. So each slab contained 207 x 207 x 1/3 = 14,283 cubic feet of concrete. Now a cubic foot of lightweight concrete weighs about 50kg, hence each slab weighed 714,150 ˜ 700,000 kgs. Together, the floor and ceiling slabs weighed some 1,400,000 kgs.
So, now we take all the ingredients and estimate a maximum temperature to which they could have been heated by 3,500 gallons of jet fuel. We will call this maximum temperature T. Since the calorific value of jet fuel is 44 MJ/kg. We know that 3,500 gallons = 31,000 kgs of jet fuel
will release 10,850 x 44,000,000 = 477,400,000,000 Joules of energy.
This is the total quantity of energy available to heat the ingredients to the temperature T. But what is the temperature T? To find out, we first have to calculate the amount of energy absorbed by each of the ingredients.
That is, we need to calculate the energy needed to raise:
39,857 kilograms of water vapor to the temperature T° C,
97,429 kilograms of carbon dioxide to the temperature T° C,
349,680 kilograms of nitrogen to the temperature T° C,
500,000 kilograms of steel to the temperature T° C,
1,400,000 kilograms of concrete to the temperature T° C.
To calculate the energy needed to heat the above quantities, we need their specific heats. The specific heat of a substance is the amount of energy needed to raise one kilogram of the substance by one degree centigrade.
Substance Specific Heat [J/kg*C]
Nitrogen 1,038
Water Vapor 1,690
Carbon Dioxide 845
Lightweight Concrete 800
Steel 450
Substituting these values into the above, we obtain:
39,857 x 1,690 x (T - 25) Joules are needed to heat the water vapor from 25° to T° C,
97,429 x 845 x (T - 25) Joules are needed to heat the carbon dioxide from 25° to T° C,
349,680 x 1,038 x (T - 25) Joules are needed to heat the nitrogen from 25° to T° C,
500,000 x 450 x (T - 25) Joules are needed to heat the steel from 25° to T° C,
1,400,000 x 800 x (T - 25) Joules are needed to heat the concrete from 25° to T° C.
The assumption that the specific heats are constant over the temperature range 25° - T° C, is a good approximation if T turns out to be relatively small (as it does). For larger values of T this assumption once again leads to a higher maximum temperature (as the specific heat for these substances increases with temperature). We have assumed the initial temperature of the surroundings to be 25° C. The quantity, (T - 25)° C, is the temperature rise.
So the amount of energy needed to raise one floor to the temperature T° C is
= (39,857 x 1,690 + 97,429 x 845 + 349,680 x 1,038 + 500,000 x 450 + 1,400,000 x 800) x (T - 25)
= (67,358,330 + 82,327,505 + 362,967,840 + 225,000,000 + 1,120,000,000) x (T - 25) Joules
= 1,857,653,675 x (T - 25) Joules.
Since the amount of energy available to heat this floor is 477,400,000,000 Joules, we have that
1,857,653,675 x (T - 25) = 477,400,000,000
1,857,653,675 x T - 46,441,341,875 = 477,400,000,000
Therefore T = (477,400,000,000 + 46,441,341,875)/1,857,653,675 = 282° C (540° F).
So, the jet fuel could (at the very most) have only added T - 25 = 282 - 25 = 257° C (495° F) to the temperature of the typical office fire that developed.
Remember, this figure is a huge over-estimate, as (among other things) it assumes that the steel and concrete had an unlimited amount of time to absorb the heat, whereas in reality, the jet fuel fire was all over in one or two minutes, and the energy not absorbed by the concrete and steel within this brief period (that is, almost all of it) would have been vented to the outside world.
"The time to consume the jet fuel can be reasonably computed. At the upper bound, if one assumes that all 10,000 gallons of fuel were evenly spread across a single building floor, it would form a pool that would be consumed by fire in less than 5 minutes"
Quote from the FEMA report into the collapse of WTC's One and Two (Chapter Two).
Here are statements from three eye-witnesses that provide evidence that the heating due to the jet fuel was indeed minimal.
Donovan Cowan was in an open elevator at the 78th floor sky-lobby (one of the impact floors of the South Tower) when the aircraft hit. He has been quoted as saying: "We went into the elevator. As soon as I hit the button, that's when there was a big boom. We both got knocked down. I remember feeling this intense heat. The doors were still open. The heat lasted for maybe 15 to 20 seconds I guess. Then it stopped."
Stanley Praimnath was on the 81st floor of the South Tower: "The plane impacts. I try to get up and then I realize that I'm covered up to my shoulder in debris. And when I'm digging through under all this rubble, I can see the bottom wing starting to burn, and that wing is wedged 20 feet in my office doorway."
Ling Young was in her 78th floor office: "Only in my area were people alive, and the people alive were from my office. I figured that out later because I sat around in there for 10 or 15 minutes. That's how I got so burned."
Neither Stanley Praimnath nor Donovan Cowan nor Ling Young were cooked by the jet fuel fire. All three survived.
Summarizing:
We have assumed that the entire 3,500 gallons of jet fuel was confined to just one floor of the World Trade Center, that the jet fuel burnt with perfect efficency, that no hot gases left this floor, that no heat escaped this floor by conduction and that the steel and concrete had an unlimited amount of time to absorb all the heat.
Then it is impossible that the jet fuel, by itself, raised the temperature of this floor more than 257° C (495° F).
Now this temperature is nowhere near high enough to even begin explaining the World Trade Center Tower collapse.
It is not even close to the first critical temperature of 600° C (1,100° F) where steel loses about half its strength and it is nowhere near the quotes of 1500° C that we constantly read about in our lying media.
"In the mid-1990s British Steel and the Building Research Establishment performed a series of six experiments at Cardington to investigate the behavior of steel frame buildings. These experiments were conducted in a simulated, eight-story building. Secondary steel beams were not protected. Despite the temperature of the steel beams reaching 800-900° C (1,500-1,700° F) in three of the tests (well above the traditionally assumed critical temperature of 600° C (1,100° F), no collapse was observed in any of the six experiments."
Quote from the FEMA report (Appendix A).
Recalling that the North Tower suffered no major structural damage from the intense office fire of February 23, 1975, we can conclude that the ensuing office fires of September 11, 2001, also did little extra damage to the towers.
Conclusion:
The jet fuel fires played almost no role in the collapse of the World Trade Center.
So, once again, you have been lied to by the media, are you surprised?
Ohhh.... that's friggin special.
What's next?
"HEYYYY! What about me? I'm a Neo-Gay Conservative Atheist! I want a 10 ft obsidian triangle to stand in so I can focus my energies! Where's my worship device?"
Yes.... check out the government loan to GE Capital... the financial arm to GE. That's why they are so buddy-buddy with Owebama. GE is currently developing the computer program for diagnosis coding and charting that will be implemented for use by all physicians who will privately have to subscribe to the program.. NO EXCEPTIONS. Private capital will be required to be spent by our government meddling in the free market. I use CERNER Powerchart right now. It's the most popular and successful program offered... that is until the free market is destroyed by government regulation.
GE is considered too big and too important to fail. I better see if Cerner is publicly owned... could be a good short if GE steps forward with the program and the government sneaks it into some bill requiring the medical establishment to use it.
Spending "Freeze" Means "The Drunken Sailor Never Cuts Back"
Obama is proposing a freeze on discretionary spending? He increased the deficit $1.4 TRILLION in one year, then proposes to keep spending frozen in the smallest area of our budget, saving us a measly .53% over the next 10 years. HUH? And we still keep spending at the same levels, at least we can NEVER DECREASE THEM (read definition of "freeze"), but can increase spending on the majority of the budget.
Will this help? It's not about help... it's Obama's way of making sure that no one can ever DECREASE the funding of wonderful groups like NPR, ACORN, and all the other liberal pet projects.
How dumb do they think America is? Well, most are pretty stupid as they are lauding this as some great plan... hell, even John McCain is supporting this.....
So this guy is trying to stay married to his wife... as he used to stop by the bar and have a beer each day. In the last year he had developed a bit of a drinking problem, now downing 24 beers and a fifth each day. He spends most of his pay on booze, stays drunk most of the day, and is about to lose his job... his life is about to fall apart. His wife tells him that she is going to divorce him if he doesn't stop drinking more. He promises her that he won't drink any more... he's going to "freeze" his intake.
How long do you think this guy is gonna last?
HISTORY IN A NUTSHELL
For those that don't know about history, here is a condensed version:
Humans originally existed as members of small bands of nomadic hunters/gatherers. They lived on deer in the mountains during the summer and would go to the coast and live on fish and lobster in the winter.
The two most important events in all of history were the invention of beer and the invention of the wheel. The wheel was invented to get man to the beer. These were the foundation of modern civilization and together were the catalyst for the splitting of humanity into two distinct subgroups:
1. Liberals
2. Conservatives.
Once beer was discovered, it required grain and that was the beginning of agriculture. Neither the glass bottle nor aluminum can were invented yet, so while our early humans were sitting around waiting for them to be invented, they just stayed close to the brewery. That's how villages were formed.
Some men spent their days tracking and killing animals to BBQ at night while they were drinking beer. This was the beginning of what is known as the Conservative movement.
Other men who were weaker and less skilled at hunting learned to live off the conservatives by showing up for the nightly BBQ's and doing the sewing, fetching, and hair dressing. This was the beginning of the Liberal movement.
Some of these liberal men eventually evolved into women. Those became known as girlie-men. Some noteworthy liberal achievements include the domestication of cats, the invention of group therapy, group hugs and the concept of Democratic voting to decide how to divide the meat and beer that conservatives provided.
Over the years conservatives came to be symbolized by the largest, most powerful land animal on earth, the elephant. Liberals are symbolized by the jackass.
Modern liberals like imported beer (with lime added), but most prefer white wine or imported bottled water. They eat raw fish but like their beef well done. Sushi, tofu, and French food are standard liberal fare. Another interesting evolutionary side note: most of their women have higher testosterone levels than their men. Most social workers, personal injury attorneys, journalists, dreamers in Hollywood and group therapists are liberals. Liberals invented the designated hitter rule because it wasn't fair to make the pitcher also bat.
Conservatives drink domestic beer, mostly Bud or Miller. They eat red meat and still provide for their women.. Conservatives are big game hunters, rodeo cowboys, lumberjacks, construction workers, firemen, medical doctors, police officers, engineers, corporate executives, athletes, members of the military, airline pilots and generally anyone who works productively. Conservatives who own companies hire other conservatives who want to work for a living.
Liberals produce little or nothing. They like to govern the producers and decide what to do with the production. Liberals believe Europeans are more enlightened than Americans. That is why most of the liberals remained in Europe when conservatives were coming to America . They crept in after the Wild West was tamed and created a business of trying to get more for nothing.
Here ends today's lesson in world history:
It should be noted that a Liberal may have a momentary urge to angrily respond to the above before forwarding it or not forward it at all.
A Conservative will simply laugh and be so convinced of the absolute truth of this history that it will be forwarded immediately to other true believers and to more liberals just to tick them off.
And there you have it. Let your next action reveal your true self .
John W. Frasco
32500 Telegraph Road
Suite 222
Bingham Farms, Michigan 48025
(248) 203-0011
(248) 203-1529 fax
A little something to bake your noodle....
http://video.google.com/videoplay?docid=-684415688278839051&ei=V_haS_agIZa6lQe78bCVDg&q=the+corporation#
A little something to bake your noodle....
http://video.google.com/videoplay?docid=-684415688278839051&ei=V_haS_agIZa6lQe78bCVDg&q=the+corporation#
Call For Immediate Arrest of 5 Supreme Court Justices for Treason
Gordon Duff
Veterans Today
January 23, 2010
Five members of the Supreme Court declared that a “corporation” is a person, not a “regular person” but one above all natural laws, subject to no God, no moral code but one with unlimited power over our lives, a power awarded by judges who seem themselves as grand inquisitors in an meant to hunt down all hertics who fail to serve their god, the god of money.
There is nothing in the Constitution that makes this “gang of five” bribe sucking clowns above the law.
Their ruling has made it legal for foreign controlled corporations to flush unlimited money into our bloated political system to further corrupt something none of us trust and most of us fear. The “corporation/person” that the 5 judges, the “neocon” purists, have turned the United States over to isn’t even American. Our corporations, especially since our economic meltdown are owned by China, Russia and the oil sheiks along with a few foreign banks. They don’t vote, pay taxes, fight in wars, need dental care, breathe air, drive cars or send children to school. Anyone who thinks these things are people is insane. Anyone who would sell our government to them is a criminal and belongs in prison. There is nothing in the Constitution that makes this “gang of five” bribe sucking clowns above the law. There is nothing in the Constitution that even mentions corporations much less gives them status equal to or greater than the Executive, Legislative and Judicial branches of government.
The Supreme Court of the United States has no right to breathe human life into investment groups owned by terrorist sympathizers, foreign arms dealers or groups working for the downfall of the United States and everything we believe in, but 5 “justices” have done just that. We now have a new government above our government, above our people, one above any law. Five judges have created institutionalized gangsterism as the new form of government for the United States.
No American soldier can ever go to war fighting for a Chinese hedge fund, a German bank or a Saudi Arabian fertilizer company. Will our new debates in Congress be between members representing the opium warlords against the Columbian cartels? Their cash, which long ago has infiltrated one major corporation or bank after another is now heading for your local representative. How important do you think secure borders for America are for these new policial “influencers?”
For years we complained about AIPAC, the Sierra Club, the NRA, trial lawyers, trade unions, NAM (National Association of Manufacturers) and the churches that got involved in politics. Behind all of these were people, American citizens, and, on some occasions, Americans who fought for their country, raised kids here and were invested in the survival of America although they didn’t always act that way. This was an American problem. Now we aren’t even sure we have an America anymore.
Anyone who believes that a massive flood of corporate money into politics won’t throw control of both houses of Congress into the hands of the wealthy nations that are also our primary strategic enemies, you know the ones, the ones loaded with oil cash, the ones with 10 cent an hour labor and legal systems that shoot first and ask questions later. They just were told they can buy the United States, not just our government, but our military, and the lives of our soldiers. They can now make our laws, raise our taxes, decide on our civil rights, where we can live, if we can own guns, how late we stay up, where and what we drive and, eventually, how we think. The Supreme Court has given foreign owned corporations the eventual power to silence us all.
When a corporation commits a crime, nobody goes to jail. When wars come, they don’t fight, they simply rake in cash. When children are poisoned or workers are killed, they seldom even pay a fine. However, when they want something, billions in tax money for “bail outs” or fat contracts or special laws, they have always gotten it. It has been a battle to control corporations for 140 years. Sometimes the American people have lost, sometimes they have won. Our greatest presidents are the ones who reined in corporate power and kept the influence of money over humanity in check. Think of Theordore Roosevelt, Woodrow Wilson, Franklin Roosevelt, Harry Truman, Dwight Eisenhower and John Kennedy.
Without them we would be living in work camps, stuck at machines all day, our children at our sides. We would be paid in beans and salt pork, dying at 40 in filth like people around the world who live in countries controlled by corporations.
Based on the justices that we want prosecuted being Reagan/Bush “conservatives” you would think this is a liberal/conservative issue. Nothing could be further from the truth. Nothing less “conservative” has ever been done by a branch of our government. There is nothing “conservative” about our Supreme Court going insane and abandoning our Constitution and making medical decisions, not to give life to a fetus, but to a bank account.
This is nothing but an extremely unAmerican and unpatriotic group of thieves believing that Americans had given up so many of their civil liberties in silence during the Global War on Terror scam that opening the “Pandora’s Box” of class conflict could now be done with nobody saying a word. Their “corporate person” is now a Baron or Duke, the great landlords of the medieval period. Americans are now destined for serfdom. Their political and economic theories, what are they? Is it conservatism or feudalism?
We are already burdened with a representative government that has tied itself to the money spigot because of the incredible cost of media exposure in campaigns. People running for office in ancient Rome would purchase thousands of animals for slaughter in the arena. Mass executions were staged as media events for political campaigns. In fact, the arenas in every Roman city were built for that purpose, today replaced by television and the internet. We thought we had changed since that time. We were wrong.
The framers of the Constitution created the Supreme Court, the Electoral College and originally had Senators appointed, not elected, to protect the wealthy from having their money and land seized by the masses who would otherwise have controlled the government. This was the 1780s. The only “democracy” we knew about was ancient Athens, where the majority of the people living there were slaves. 27 Amendments later, including the Bill of Rights, we have worked to define justice and decency. Generations have fought and died to keep life in our imperfect system from 1780. Who would have thought that 5 people could destroy it all?
Political debate in America is sometimes extreme, often bordering on violence. Feelings are high. How many times have you heard people threaten to leave the country because “their America” no longer exists. We know that few really mean it. When faced with a real threat, no people on earth are to be feared like Americans. When help is needed, no people on earth are to be trusted and relied on like Americans. This is the pride we have in our country and ourselves. We never agree on anything. We aren’t supposed to, we are Americans.
Everything we built has been based on a balance, race, religion, ethnicity, social standing, political beliefs, regional interests, all striving and compromising to build something we are all secretly very proud of, something all of us are willing to fight for and many are. Americans all agree on one thing, that our government in Washington is out of control and has been for some time. We all have different ideas on this but agree on the fact itself. We wonder where the politicians come from, men too often “less great” than those of the past, in fact, less great than average. Decisions are continually made that most find puzzling and, in fact, are driven by a rotten underbelly of corruption and self interest.
Now, 5 members of the Supreme Court, people none of us voted for, a group that is answerable to no authority and, seemingly, no law or moral code, a group famous for immoderation, poor judgement and low personal integrity has, either through blindness, avarice or insanity clearly done something so malicious, so unjust and so utterly inconsistent with our Constitution that they, themselves, have become an “enemy of the people.”
What is their power? What they have done is not within the scope of the authority given through the Constitution. Their acts are outside the law, their acts are those of a conspiracy, their acts are meant to diminish our freedoms, our sacred institutions and even endanger our lives. Typically, such acts are called crimes and those who commit them are criminals.
What could drive judges, albeit judges appointed with little thought as part of a cheap political ploy, to abandon any American consitutency? Corporations have no religion. They care nothing for the unborn. They have no allegiance to a flag, a family or any moral ethic. They serve no person, owe no loyalty other that to stockholders, shadowy groups of Russian oligarchs, Chinese banks, corrupt dictators grown fat on the spoils of their people or the international consortiums of bond and currency speculators who have, for decades, abandoned any economic law to build the etherial “house of cards” we call the “world economy.”
The control of the American electoral process has been given to them. No serving politican can survive now standing against them. Years ago “they” bought our newspapers and our television networks. Fact and truth became whatever they wanted us to believe. “They” gained control of what many thought and what almost all of us see and hear. That wasn’t enough. They wanted it all. As their control has grown, so has terrorism, continual war, economic poverty for millions Americans and insensitivity to justice and humanity. Who would expect anything else from a corporation with no blood, no heart and no face?
The Founding Fathers led America on the path to freedom and eventual democracy. The Federalists limited the ability of an impetuous electorate to seize power and “reform” America into chaos and anarchy. This system of government was predicated on the belief that love of country would always burn brightly in America and with progress, freedom and bounty was the ineviable reward of our industry. It is only now too obvious that so much has happened that was unforseen. It is not a denial of our traditions to correct wrongs when we find them. This was how America was created. We are drowning in wrongs, we all finally agree on this.
The time is now. Party politics have failed. Political theories are little more than empty rhetoric meant to mislead and misinform. State has become church and church has become state. State is less just and church less godly. All we have left is “we, the People.” This is how we began and it is now all we have to move forward. It is time for the states to call for a Constitutional Convention to establish, not just a Republic, but a Democracy, by and for the people, the American people, rich and poor, a nation loyal to itself, not tied to corporations, a vast military industrial complex or endless foreign alliances.
If it is to be a genuinely conservative nation, one with individual freedoms, a small government, fewer taxes and more opportunity, a nation as intended, then we will all have to live with it. The bloated corpse we are creating in Washington is emitting a stench we can no longer abide. We will be saying goodbye to our Supreme Court, our seniority system in Congress and our political machines pretending to be “parties” and hello to paper ballots, a free press, term limits and the ability to yank a scoundrel out of office when we catch one.
Prepare Now to Escape Obama’s Retirement Trap
Jan 21st, 2010 | By Ron Holland | Category: Featured, Personal Investing
http://whiskeyandgunpowder.com/prepare-now-to-escape-obamas-retirement-trap/
As the United States moves into a new decade of military overreach abroad and national bankruptcy at home, Washington is in a desperate search for more revenue and a solution to the future financing of the trillions in national debt obligations currently held by foreign central banks and investors. Economists, politicians and smart investors know the dollar’s days as the world reserve currency are numbered as is our ability to finance the national debt.
Although the historical government solution to unsustainable government debt loads has always been the destruction of the debts by currency depreciation and eventual hyperinflation, there is always an intermediate step used to buy more time for the politicians in power. This action, usually sidestepped and downplayed by the establishment historians paid to hide the real facts of history is wealth confiscation. Napoleon had it right when he stated, “History is a state of lies agreed upon.”
The largest source of liquid private wealth remaining in the United States are the $15 trillion in private retirement funds and the ultimate ownership, control and future of these funds have already been compromised and exchanged for the favorable tax treatment of private retirement plans. Congress writes the laws, so they can tax, penalize, hold your funds hostage and although they’d never use the word, “confiscate” your assets at their discretion.
The retirement trap I’m writing about is only a proposal at the present time and since it may well begin in the latter years of the Obama Administration assuming the Democrats can somehow maintain their majorities in Congress, I’m calling it the “Obama Retirement Trap”. But make no mistake, the government need for current revenue and their frenzied search for a short-term fix to fund a backstop of liquidity to buy future government debt obligations when no credible investors will buy them is an unspoken quest of both political parties. The establishments of both political parties will do anything to stay in power and this will include raiding and pillaging your retirement funds.
Washington Proposals for a Mandatory Guaranteed Retirement Annuity
The government is getting ready to use that power and in a remarkably cunning way.
The prototype for their plan was devised in 1991 by Alicia H. Munnell, then Director of Research for the Federal Reserve Bank of Boston. She presented the idea in a paper entitled “Current Taxation of Qualified Pension Plans: Has the Time Come?” Later she was promoted to Assistant Treasury Secretary, and along with Robert Reich, Henry Cisneros and Hillary Clinton, she began to plot a raid on retirement funds. One element of the scheme was to create a Mandatory Pension System and fund it with a one-time 15% tax on retirement assets and a recurring 15% tax on retirement plan income.
I warned about this in my 1994 book, “Escape the Pension Trap”. Fortunately, the GOP election victory that same year derailed the Mandatory Pension System.
Guess what? It’s back… and nicely repackaged. It’s back because, due to slumping tax collection, Washington is on a desperate search for a new revenue stream. And this time they don’t want to just tax your retirement assets, they’re out to take them.
Teresa Ghilarducci: The New Architect of the Retirement Plan Wealth Attack
The latest leftist plan first appeared in 2007 at the Economic Policy Institute: Agenda for Shared Prosperity. In 2008, she became the new Director of the Schwartz Center for Economic Policy Analysis at the New School for Social Research. In her book, “When I’m 64: The Plot Against Pensions and the Plan to Save Them”, she hypes her retirement solution for millions who do not have adequate retirement savings and her solution is to confiscate most of the retirement assets of successful Americans.
Here’s her plan…
Each year, the government will put $600 into a Guaranteed Retirement Account for you and every other working person in America. If $600 amounts to more than 5% of your annual compensation (if you earn more than $12,000) you will be required to contribute 5% of your total annual compensation to the GRA. The Feds will promise to pay a 3% “inflation adjusted return” on each GRA, based on the government’s Consumer Price Index. When you retire, you receive a portion of the account each month. Then — get this — when you die, your heirs receive only 50% of what’s in your GRA. The rest goes to Uncle Sam. Remember, this is the good news!
Next…
Following the introduction of Guaranteed Retirement Accounts, the next step will be to cap the tax deduction for annual contributions to existing private retirement plans at 5,000. (Many Americans will support this, given the hostility to the well-publicized Wall Street mega-bonuses and retirement plans.) Next will be a tax on every retirement plan’s income, to provide an immediate flow of revenue to the Feds. Finally, there would be a prohibition on buying any non-U.S. investment for any retirement plan.
What Would Spark This Nationalization?
A plan this radical can’t just be slipped through Congress. It can only ride into law on a first-class national crisis. Have you noticed that somehow the politicians are always able to find one when they need one.
* Loss of Triple-A Status for U.S. Treasury Bonds
The loss of triple-A status for Treasury bonds is the most likely trigger. And according to Steven Hess, Moody’s lead analyst for the U.S., it’s not that far-fetched. He states, “The AAA rating of the U.S. is not guaranteed. So if they don’t get the deficit down in the next 3 to 4 years to a sustainable level, then the rating will be in jeopardy.”
* Terrorist Attack or Military Disaster
A terrorist attack or a military disaster like the collapse of Pakistan or an Israel/Iran conflict and disruption of oil shipments could close American markets just as we saw in 2001. That would create a financial crisis over night.
* Another Economic Meltdown
After years of deficits, the greatest hazard to our economy is a run on the dollar and on Treasury securities by foreign investors. Although America’s foreign creditors don’t want to start a run on Treasury debt — they prefer a slow, orderly retreat — no one intends to be the last to head for the exit. Political or economic pressure in Asia could force Japan or China to take immediate action and dump our debt and knock the prices down to fire-sale levels.
What happens if China decides to cut its losses on U.S. Treasuries and issues a $100 billion sell order? That’s only 10% of their holdings, but it could set off panic selling of dollar-denominated bonds and crush the U.S. stock market like an egg shell. Mortgage rates would spike, which would suck the housing market into another air pocket. The President would probably sign an Executive Order closing the markets until order could be restored.
Any of those events would take place in an atmosphere of deep public worry and fear. That’s when Washington would come to your rescue and guarantee to restore your retirement funds back to a “pre-crash” level. How nice, right? However, in exchange you would need to “voluntarily” move your retirement assets into your new Guaranteed Retirement Account.
For those who don’t sign up for a GRA because they’re not fooled by the carrot, there would be sticks to consider.
1. Additional withdrawal penalties and taxes on their retirement plan.
2. Limitations on permissible investments — nothing that isn’t “in the public interest.”
3. Mandatory minimum holdings for targeted investments, such as Treasury obligations.
Remember, these retirement proposals are just in the discussion stage but progressives are promoting this confiscation agenda to the Obama Administration as a new source of revenue for a bankrupt federal government desperate for additional sources of revenue.
When the next economic or stock market crisis hits, your retirement assets will be at risk from this type confiscation effort regardless of whether the Democrats or Republicans are in control.
The Confiscation Event
At some time during the next decade, a global run on treasury debt and the dollar will also likely take the American stock market down past lows not seen since the financial meltdown crisis in 2008 and 2009. The 50% to 75% stock market pullback during the actual bankruptcy of the Washington debt and paper dollar will send shock waves through retirees and current plan participants as their private retirement plan balances plummet.
At this time, Washington will come to the rescue and guarantee all private retirement plan market values back to pre-crisis levels. The gullible American public will overwhelmingly support this effort by switching their dwindling funds into the Guaranteed Retirement Annuity managed by the government. For the first few years, Washington will probably label those few of us who warn that that Americans have lost their retirement benefits as extremists, Ron Paul paranoids and Tea Party advocates.
Then it will become crystal clear to all Americans that their retirement benefits have been given away for a promise by an evil group of plunderers who have never in their history kept a promise, a guarantee or their word on anything. The greatest theft of wealth in the history of the world will have taken place and only those few who heeded an early warning will still have their retirement benefits and security.
Regards,
Ron Holland
January 21, 2010