CSKH - waiting for the sun to shine
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Funding For U.S. Solar Power Projects Rising
By DONNA HOWELL, INVESTOR'S BUSINESS DAILY Posted 06:03 PM ET
More funding deals are arising for U.S. solar power projects as the nation ramps up as a solar market. But it's uncertain if more corporations are apt to jump in to provide financing as Google (GOOG) has.
Borrego Solar Systems said Tuesday U.S. Bank (USB) and Southern California's East West Bank (EWBC) are financing more than $100 million of its commercial and utility solar projects. Just last week Google announced $280 million in corporate financing for home installations by SolarCity.
Banks, and now a big business, are funding solar to diversify and boost returns in today's low interest rate environment, for what they deem a decent risk. The deals let them take a 30% tax credit for what they spend, this year as an upfront grant, plus get an income stream from projects they finance. Customers often pay on a power purchase agreement or system lease.
One Borrego Solar job outfitted the University of California, San Diego.
The more interest in funding solar the better for developers, says Bill Bush, Borrego's chief financial officer. But he doesn't see a rush of firms following Google's lead.
"I think it's a positive any time where you have more competition — as a developer, the cost of equity should go down," Bush said. "Though I think Google is probably a very different company than a lot of other places, so I don't know how repeatable that model is."
For one thing, firms getting into solar funding for the 30% tax credit would need to have enough steady profit over years to not waste it.
Borrego's more than $100 million in bank financing consists of a new $46 million round atop $56 million from the banks in recent months. SolarCity has mounted over $1.25 billion in funds since 2008, with banks, utility owners and Google.
U.S. Bank started investing in solar in 2008. It has formed funds with both SolarCity and Borrego.
"It's an attractive investment first from a yield perspective, second from a credit risk perspective — and it's good to be investing in renewable energy from a public policy standpoint," said Darren Van't Hof, U.S. Bank's director of renewable energy investments.
Banks went hunting for safe returns in the wake of the investment banking crisis and credit crunch.
"As we looked around the landscape back in 2008, there weren't that many industries that had the appeal or growth opportunities that the renewables space had," said Hank Lee, a vice president at East West Bank. "We're providing senior debt financing ... because of additional risk factors and because of the increasing complexity (of deals), we're able to get above-market returns compared to say traditional two-party investments."
http://www.investors.com/NewsAndAnalysis/Article/576015/201106211803/Banks-Boost-Funding-For-US-Solar-Power.htm
On May 11, 2011, we entered into an Amendment to Securities Purchase Agreement with Tangiers (“Amendment No. 2”). Amendment No. 2 changed total purchase price up to which we may issue and sell shares of our common stock to Tangiers, from a total purchase price of $4,000,000 to a total purchase price of $8,000,000. In addition, Amendment No. 2 changed the “Market Price” (the effect of this term is to be determined by reviewing the Securities Purchase Agreement) of the common stock which may be issued and sold to Tangiers from the bid price daily volume weighted average price of the common stock during the Pricing Period (defined in the Securities Purchase Agreement) to the lowest daily volume weighted average price of the common stock, as quoted by Bloomberg, L.P., during the Pricing Period.
We have obtained $2,423,887 in cash advances under the Securities Purchase Agreement, which means we now have $5,576,113 available to us under the Securities Purchase Agreement. Prior to this registration statement, the Company has filed registration statements with the Securities and Exchange Commission, to register a total of 706,195,119 shares of common stock issuable pursuant to the Securities Purchase Agreement, which said shares were registered prior to the recent 100 to 1 reverse split of our common stock. Under this registration statement we are registering an additional 20,652,270 shares of our common stock. We will issue these additional shares to Tangiers in order to receive advances under the Securities Purchase Agreement. This registration statement must be declared effective prior to us being able to issue those additional shares to Tangiers so that we may obtain cash advances under the Securities Purchase Agreement.
Our consolidated financial statements have been prepared assuming we will continue as a going concern. We have experienced recurring net losses from operations, which losses have caused an accumulated deficit of approximately $42.8 million as of December 31, 2010. In addition, we have a working capital deficit of approximately $4.6 million as of December 31, 2010. We had net losses of $8.5 million and $9.8 million for the years ended December 31, 2010 and 2009, respectively.
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001354488-11-001779.txt&FilePath=\2011\06\01\&CoName=CORD+BLOOD+AMERICA%2C+INC.&FormType=S-1&RcvdDate=6%2F1%2F2011&pdf=
Existing stockholders will experience significant dilution from our sale of shares under the Securities Purchase Agreement.
The sale of shares pursuant to the Securities Purchase Agreement will have a dilutive impact on our stockholders. As a result, the market price of our common stock could decline significantly as we sell shares pursuant to the Securities Purchase Agreement. In addition, for any particular advance, we will need to issue a greater number of shares of common stock under the Securities Purchase Agreement as our stock price declines. If our stock price is lower, then our existing stockholders would experience greater dilution. Our common stock outstanding after this offering will be equal to 88,713,488 shares.
The investor under the Securities Purchase Agreement will pay less than the then-prevailing market price of our common stock
The common stock to be issued under the Securities Purchase Agreement will be issued at 90% of the lowest daily volume weighted average price of our common stock during the five consecutive trading days immediately following the date we send an advance notice to the investor and is subject to further reduction provided in the Securities Purchase Agreement. These discounted sales could also cause the price of our common stock to decline.
The sale of our stock under the Securities Purchase Agreement could encourage short sales by third parties, which could contribute to the further decline of our stock price.
The significant downward pressure on the price of our common stock caused by the sale of material amounts of common stock under the Securities Purchase Agreement could encourage short sales by third parties. Such an event could place further downward pressure on the price of our common stock.
We may be limited in the amount we can raise under the Securities Purchase Agreement because of concerns about selling more shares into the market than the market can absorb without a significant price adjustment.
The Company intends to exert its best efforts to avoid a significant downward pressure on the price of its common stock by refraining from placing more shares into the market than the market can absorb. This potential adverse impact on the stock price may limit our willingness to use the Securities Purchase Agreement. Until there is a greater trading volume, it seems unlikely that we will be able to access the maximum amount we can draw without an adverse impact on the stock price
We will not be able to use the Securities Purchase Agreement if the shares to be issued in connection with an advance would result in Tangiers owning more than 9.9% of our outstanding common stock.
The news was that CBAI foreclosed on NeoCells
06/17/2011 5:17AM
Cord Blood America Acquires Assets of NeoCells, an Illinois Stem Cell Storage Company
"The Company proceeded …. to foreclose against all assets of NeoCells. At the public disposition of all property owned by NeoCells, the Company as a secured creditor bid $320,000 in offset debt.
Its Tangiers selling new shares into news. The majority of the pre reverse split shares are still locked up from being sold because Matt's TA is taking its sweet time delivering the new cusip shares to the various brokers.
If TA wasn't gagged shareholders could monitor daily the ever increasing outstanding share count.
The chill only effects the easy and fast electronic deposit of shares. The old fashion paper route still works.
~$110,000 changed hands today on CBAI's stock. Tangiers is happy people are thinking .14 is a bargain. If today was mostly buys, why didn't the pps increase?
There are certain risks related to sales by Tangiers, including:
The outstanding shares will be issued based on a discount to the market rate. As a result, the lower
the stock price is around the time Tangiers is issued shares, the greater chance that Tangiers gets
more shares. This could result in substantial dilution to the interests of other holders of
common stock.
To the extent Tangiers sells our common stock, our common stock price may decrease due to the
additional shares in the market. This could allow Tangiers to sell greater amounts of common
stock, the sales of which would further depress the stock price.
The significant downward pressure on the price of our common stock as Tangiers sells material
amounts of our common stock could encourage short sales by Tangiers or others. This could
place further downward pressure on the price of our common stock.
bingo, Matts gagged TA is foot dragging!
"...We also have not received our physical shares back from the transfer agent..."
The chill only affects electronic settlement, not paper settlements.
b. Liquidated Damages Agreement with Tangiers Capital, LLC.
On January 19, 2011, the Company entered into a separate settlement and liquidated damages agreement (the “Agreement”), with Tangiers Capital, LLC (“Tangiers), one of the Company’s existing investment bankers who has been purchasing from time to time registered shares of the Company’s Common Stock for cash. Execution of the Agreement became necessary because under the existing agreement with Tangiers, the Company was obligated to deliver registered shares which could be “immediately” placed into the Automated System for Deposits and Withdrawals of Securities (know as “DWAC”), and at present the DWAC system is not available for newly issued registered shares of the Company.
The Agreement provides that as Liquidated Damages, the Company will remit a specified sum (the “Penalty Sum”) to Tangiers on each share the investor has previously purchased and currently holds, and on each share purchased Tangiers for cash in the future, until such time as the shares held by Tangiers can again be deposited into the DWAC system.
This Penalty Sum is to be calculated as follows:
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001354488-11-000908.txt&FilePath=\2011\03\21\&CoName=CORD+BLOOD+AMERICA%2C+INC.&FormType=8-K&RcvdDate=3%2F21%2F2011&pdf=
wow, solar shorts have been making a killing!
just look at these charts in #msg-34727210 (comparatively CSKH has been a safe haven, lol)
New Jersey based Arava Power Company builds First Solar Field in Israel
06/14/11, 5:36am
Phil Aroneanu
Photo: Itamar Grinberg
A few days ago, our friends at the Arava Power Company put up Israel's first ever solar power field at Kibbutz Ketura. Mazel Tov to them - check out this blog post by Arielle Sperling, an employee at APC
When looking out across the desert, some people marvel over expanses of flat land that stretch between magnificent mountains. Others take in the clear blue sky. Some people, however, see potential. David Rosenblatt of New Jersey, Ed Hofland of Kibbutz Ketura and Yosef Abramowitz founded the Arava Power Company in 2006 with the intention of supplying Israel with 10% of her energy needs through solar power. They envisioned fields of photovoltaic panels that would transform the desert into a source of clean, green energy for Israel. As a country that is 60% desert and with some of the highest levels of solar radiation in the world, Israel is perfectly positioned to take advantage of this natural, free, and renewable resource. Solar energy harnessed by the Arava Power Company is already helping to fulfill 350’s goal of reducing carbon emissions.
On Sunday, June 5th, APC’s founders transformed their dream into a reality with the launch of Ketura Sun, the first commercial solar field in Israel. 18,500 solar panels are now at work harnessing the sun’s rays; over the next years the field will create approximately five megawatts of electricity – enough to power three neighboring kibbutz communities. Ketura Sun is also expected to offset approximately 125,000 metric tons of carbon dioxide. That is the equivalent of planting approximately 180,000 trees! The inauguration of the field was on UN World Environment Day – a global day devoted to reducing carbon emissions and restoring our earth to a healthier state. Before the inauguration ceremony, chairs for the five hundred guests were arranged so that their cushions spelled out an enormous “SOS” (for “Save Our Solar!”). This was a message to the Israeli government to lift solar caps and to create a more supportive environment for the blossoming solar industry in Israel.
Ketura Sun was built in Israel’s Arava Valley at Kibbutz Ketura, a desert kibbutz community of environmentally conscious, artistically inclined, Jewish Zionists. As part of the company’s social responsibility program Arava Power is embracing the Jewish law of pe’ah, which requires the four corners of any field to be left untouched by harvesters and instead saved for the poor to glean. The company has dedicated the four corners of Ketura Sun to four non-profit organizations that will benefit from the funds earned over the next twenty years. The four organizations are Jewish Heart For Africa, The Elie Wiesel Foundation for Humanity, Bustan, and the Red Mountain Therapeutic Riding Center.
Arava Power Company is committed to the goal of 350 – by bringing solar energy to a region of the world blessed with a seemingly endless supply of this clean, renewable resource. APC is reducing carbon emissions by lessening dependence on coal and oil, and creating a far more sustainable source of electricity that will fuel generations to come. Arava Power believes that Israel has the potential to transform itself into an entirely renewable energy based economy.
Perhaps 350’s strongest message is that it is our responsibility to protect the world for generations to come. Arava Power Company just announced their plans for a pipeline of 40 signed contracts to build solar fields around the country, representing well over 400 MW of clean, renewable energy. Ultimately, Arava Power Company would love to see Israel become the first carbon-free country – a truly green oasis in the middle of the Middle East. As pioneers of the Israeli solar industry, Arava Power’s aspirations are perfectly aligned with 350’s campaign to fight climate change.
Arava Power Company has no intentions of slowing down any time soon. So, as we like to say… shine on!
Will Obama Fail to Meet His White House Solar Panel Deadline?
Published by jamiehenn, June 20th, 2011 global warming 0 Comments
Last October 5, Secretary of Energy Steven Chu stood up before a conference of renewable energy advocates in Washington, DC and made an announcement. “As we move toward a clean energy economy, the White House will lead by example,” said Sec. Chu. “I’m pleased to announce that, by the end of this spring, there will be solar panels and a solar hot water heater on the roof of the White House.”
Tomorrow, June 21st, is the final day of spring and despite over 125,000 signatures on a letter asking President Obama to meet his deadline, it looks like the Administration will fail to get solar on the roof in time. (Obama needs to call Clear Skies!) I’ve been on and off the phone with the Department of Energy, the agency in charge of the installation, and the best answer I can get is that the installation is a “federal procurement project” that the spokesman isn’t authorized to comment on.
Ok, I understand, home improvements can be easy to procrastinate on, but look at all the Administration has achieved on climate and energy since last October. Betsy Kolbert outlined some of the most notable accomplishments in her recent New Yorker piece:
Since the midterm elections, Obama has barely mentioned climate change, and just about every decision that his Administration has made on energy and the environment has been wrong. In March, the Administration announced that it would be opening up new public lands in Wyoming for coal mining. In April, the White House delayed plans to impose stricter controls on the mining technique known as mountaintop removal. In May, the Administration put on hold rules aimed at cutting pollution from power plants at places like paper mills and refineries. Also in May, the President announced plans to increase domestic oil production by speeding up permits to drill off the coast of Alaska and in the Gulf of Mexico. “Is Obama’s call for more drilling bad messaging masquerading as cynical policy—or vice versa?” the liberal blog Climate Progress asked.
When it comes to handouts for big polluters, President Obama seems to have felt “the fierce urgency of now,” but when it comes to climate, the best advocates can get is a “deliberative process.”
I’ve been trying to think about some of the reasons for this solar #fail.
President Obama’s political advisors may be worried about comparisons to Jimmy Carter, who installed solar panels on the White House roof in 1979 only to have them removed by President Reagan in 1986. They might be comforted to know that President Bush also installed solar panels at the White House (not on the roof, but on a utility shed nearby). More importantly, public support for solar power and renewable energy is overwhelming: a recent Yale poll shows that 91% of Americans think investing in clean energy should be a high priority. What Team Obama really should be worrying about is the perception that the President can’t get anything done. The timidity and politicking on show in this decision is not just a good way to isolate the progressive base, but also to lose moderates who are looking for a strong leader who can get out there and save the economy. Strapping on a tool belt, hammering in a solar panel, and announcing a green jobs program would be a good start.
But speaking of the economy, isn’t a solar panel just the type of luxury we can’t afford these days? In fact, installing solar on the White House makes such good fiscal sense even Paul Ryan could approve. According to the team at Sungevity, the California based solar company that offered to install Obama’s panels for free, a solar array on the White House could see about a 5 year payback. Solar panels would cut costs, not increase them. Obama himself has spoken at number of solar companies since becoming President and emphasized the importance of renewable energy to the economic recovery.
What about the difficulty of getting the panels up on the roof? Won’t they get in the way of the snipers and all the hi-tech gadgets they must have up there? The Administration already approved the decision, so clearly the installation is possible (maybe the panels give the snipers some cover?). And other world leaders have shown that with the right motivation, the installation can be done quickly: when President Mohamed Nasheed of the Maldives heard of 350.org’s challenge to world leaders to install solar on their houses, he called up a solar firm, got a bid, and a few weeks later was up on the roof hammering in 48 new panels himself.
No doubt, there would be criticism of the installation. The chattering class would harp on the Carter comparison rather than look at the actual polling. Conservatives would likely seize on the fiscal argument and make Obama out as an elitist (also not looking at the polling). Perhaps most worrisome for the administration, however, would be the vehement opposition from fossil fuel companies and their front groups like the US Chamber of Commerce. The Chamber, of course, sits directly across the street from the White House. They haven’t put solar panels on their roof, but they do let Fox News use it for their White House coverage. With the Chamber promising to spend over $100 million in the 2012 election to block President Obama’s agenda on everything from healthcare to climate, one would think that a nice shining solar panel on the roof of the White House, in plain view from the Chamber’s windows, would be a gesture even Rahm Emmanuel could appreciate.
What’s just as disappointing as the criticism of from opponents to climate action, is the knuckle dragging and hand-wringing of administration allies. In an election year, drawing attention to any of Obama’s failings is taboo. “Political reality” is tough, they say. Well, with scientists regularly sounding the alarm and extreme weather already devastating communities across the planet, reality reality doesn’t look so good either. Waiting until 2013 to see any movement on climate isn’t an option. And in the end, what’s really needed on climate is more than policies, it’s political leadership. What’s needed is a Presidential speech from the White House roof with a shining set of Made-in-America solar panels as the backdrop.
Let’s hope Obama gets those solar panels up soon.
only 33k traded today, about $700 bucks, lol.
I'd like to see a .03 paint job
There are no shorts in CSKH imo, but if we can just get a concrete whiff of the company executing well, we should be able to move the pps needle easily!
Bring it on!
I'll wager big oil and big coal are the ones trying kill solar
"...Besides the banking sector post-2008 financial crisis, I can't think of a group that's as hated and despised as solar stocks. … For whatever reason, this entire complex has become a favorite target of short-sellers...."
The recent 2 month sideways action says to me your right.
Financiers are not bid whacking. They know whats coming as they are more informed than we are. We have to believe the press releases whereas the financiers know exactly how well the company's execution is unfolding.
.03 this week? A forth of July celebration in store for CSKH longs?
Stay tuned.
Rooftop Solar Power Could Meet Half of New York City's Peak Energy Needs
by Rachel Cernansky, Boulder, Colorado on 06.18.11
Solar power has been growing in New York City, but the installed capacity pales in comparison to the city's potential. That's at least according to a new study, illustrated by the map above, that found two-thirds of the city's million-plus rooftops are suitable for solar panels—and collectively could meet half the city's energy demand during peak hours, and 14 percent of the city's total annual use. (And that's accounting for typical weather conditions.)
The New York Times reports that city officials are using the study to push for more solar power to supply the city's needs and to reduce emissions.
The data for the map, a collaboration between the City University of New York, the city and the Department of Energy, shows 66.4 percent of the city's buildings have roof space that can accommodate solar panels. Even more impressive: that space could generate up to 5,847 megawatts of energy.
Right now, about 400 solar installations produce a mere 6.5 megawatts, and existing solar power installations nationwide produce little more, relatively speaking: 2,300 megawatts.
The Times explains how the data for the map was collected. Using a laser system called Lidar that detects light:
Swooping over the five boroughs last year, the plane collected precise information about the shape, angle and size of the city's rooftops and the shading provided from trees and structures around them.
New Yorkers can use the NYC Solar Map to view the solar power potential of their own roof, and the associated costs (as well as rebates and other financial incentives) just by typing in an address. They can also see how much CO2 emissions will be prevented by tapping into that solar power capacity.
http://www.treehugger.com/files/2011/06/rooftop-solar-power-could-meet-half-new-york-city-peak-energy.php
ctguy54321 (signed in using Yahoo)
I remember when video tape recorders first came out: they cost up to $1500 with all the bells and whistles. They rapidly dropped to about 10 percent of that, and now are about $50. So why have solar panels stayed so expensive?
I am guessing that not enough Research and Development money is being provided to the Universities and other basic research facilities. The US government provides about $100 billion per year to big oil to look for new oil fields. What if that money was instead invested in solar panel R&D?
Funding the existing overly expensive solar panels with federal incentives is not an answer. Silicon-based solar panels are not the only technology. There are flexible "printed" solar panels: right now their efficiency cannot compete with silicon-based cells, but what of R&D could change that? Imagine every roof in the US covered in flexible sheets of solar cells that could be installed by the average homeowner? Or if roofing tiles could be coated with solar cells?
The solution to our energy problems will only be realized when new technology is developed, and that means a lot of R&D. Technology got us into this mess; it's going to have to be used to get us out of it.
No Shelter From Storm Losses
By ANDREW BARY
This year's catastrophic tornadoes spell darkened earnings forecasts for the major property-casualty insurers.
Major property and casualty insurers like Allstate, Travelers and State Farm are having a gloomy quarter. A series of storms in the Midwest and Southeast during April and May—including those causing heavy damage in Tuscaloosa, Ala., and Joplin, Mo.—could produce record second-quarter catastrophe losses for the industry.
"I can't imagine a worse scenario for the quarter," says Joshua Shanker, the P&C analyst at Deutsche Bank Securities. The industry's domestic catastrophe losses for the quarter could total $15 billion to $20 billion—the kind of losses typical of a tough third-quarter hurricane season, not the usually benign second quarter.
Allstate last week said its catastrophe losses in April and May were $2 billion, compared with an average of about $300 million in the past nine second quarters. That likely will mean a loss for Allstate of a $1 a share in the period. Travelers said recently that its storm-related losses would be $1 billion after taxes, or an estimated $1.5 billion pretax. Travelers projected its adjusted book value on June 30 will be about equal to where it stood at year end, when it was $54 per share.
State Farm, a mutual insurer owned by policyholders, said Thursday that claims from April and May storms will "soon exceed $2 billion." State Farm is the No. 1 homeowners insurer, with a 21.8% share. The bulk of storm losses will come from homeowners insurance, with some losses from autos as well as commercial policies covering damaged buildings. Reinsurance losses aren't expected to be high, because the individual tornadoes and other storms didn't produce the kind of multibillion-dollar losses that typically trigger reinsurance policies held by primary insurers like Allstate and Travelers.
Major P&C insurance stocks have fallen in the past month, but they're still besting nearly every other major part of the financial sector. Shares of Chubb, Ace and Travelers are up about 5% this year, while Allstate is down 7% at $30. The group has benefited from its safe-haven status, as investors flee big banks and investment banks like Citigroup (ticker: C) and Goldman Sachs (GS), many of whose shares are down 20% this year.
"My hunch," says Shanker, "is that investors have been buying P&C insurers to get away from the banks and then formulating a thesis to own them." The bullish industry argument, as made by investor Steve Eisman at the recent Ira Sohn conference ("Where Top Hedge Funds Are Putting Their Money," May 30) is that industry pricing on a wide range of commercial policies is finally rising after several weak years. That should boost profits and the stocks in coming years.
The stocks, however, seem to anticipate some pricing improvement already and industry capital levels still are ample.
Chubb, Travelers and Ace trade around 1.2 times tangible book value and for about 11 times estimated 2011 profits. Their profits in recent years have benefited from reserve releases from conservative underwriting policies in the past. Some 43% of industry earnings last year came from releases, according to a report earlier this year from Bank of America Merrill Lynch analyst Jay Cohen. This means recent profits have overstated earnings power from current business.
Chubb, at 63, trades for 11 times projected 2011 profit of $5.60 a share, while Ace, at 65, fetches 10 times projected 2011 net of $6.26 a share. Travelers, at 58, trades for 12 times estimated 2011 earnings of $4.74. Those consensus estimates, however, could prove high due to the second-quarter storms and the looming Atlantic hurricane season.
Shanker is neutral on the sector and one of the few analysts with a Sell rating on Travelers, which is cutting back on its aggressive share-buyback program because of the second-quarter storm losses. Allstate, at 30, looks inexpensive trading below its $35 tangible book value. It, however, faces company-specific challenges in boosting its return on equity to more than 10%, amid market-share gains by direct writers of auto insurance like Geico, USAA and Progressive (PGR); those companies are taking share from companies like Allstate that rely mainly on agents. Allstate is the No. 2 auto insurer, behind State Farm.
P&C stocks look fairly valued and have benefited from their defensive characteristics this year. With the ever-dangerous third quarter on the horizon, investors may be wise to hunker down until it passes.
http://online.barrons.com/article/SB50001424053111903668804576385511914995194.html?mod=googlenews_barrons
current 24hr US IR loop
http://www.meteo.psu.edu/ewall/SAT_US/animir.html
The Web of Debt
President Andrew Jackson called the banking cartel a "hydra-headed monster eating the flesh of the common man." New York Mayor John Hylan, writing in the 1920s, called it a "giant octopus" that "seizes in its long and powerful tentacles our executive officers, our legislative bodies, our schools, our courts, our newspapers, and every agency created for the public protection." The debt spider has devoured farms, homes and whole countries that have become trapped in its web. In a February 2005 article called "The Death of Banking," financial commentator Hans Schicht wrote:
The fact that the Banker is allowed to extend credit several times his own capital base and that the Banking Cartels, the Central Banks, are licensed to issue fresh paper money in exchange for treasury paper, [has] provided them with free lunch for eternity. . . . Through a network of anonymous financial spider webbing only a handful of global King Bankers own and control it all. . . . Everybody, people, enterprise, State and foreign countries, all have become slaves chained to the Banker's credit ropes.1
Schicht writes that he had an opportunity in his career to observe the wizards of finance as an insider at close range. The game has gotten so centralized and concentrated, he says, that the greater part of U.S. banking and enterprise is now under the control of a small inner circle of men. He calls the game "spider webbing." Its rules include:
Making any concentration of wealth invisible.
Exercising control through "leverage" – mergers, takeovers, chain share holdings where one company holds shares of other companies, conditions annexed to loans, and so forth.
Exercising tight personal management and control, with a minimum of insiders and front-men who themselves have only partial knowledge of the game.
The late Dr. Carroll Quigley was a writer and professor of history at Georgetown University, where he was President Bill Clinton's mentor. Dr. Quigley wrote from personal knowledge of an elite clique of global financiers bent on controlling the world. Their aim, he said, was "nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole." This system was "to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements."2 He called this clique simply the "international bankers." Their essence was not race, religion or nationality but was just a passion for control over other humans. The key to their success was that they would control and manipulate the money system of a nation while letting it appear to be controlled by the government.
The international bankers have succeeded in doing more than just controlling the money supply. Today they actually create the money supply, while making it appear to be created by the government. This devious scheme was revealed by Sir Josiah Stamp, director of the Bank of England and the second richest man in Britain in the 1920s. Speaking at the University of Texas in 1927, he dropped this bombshell:
The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in inequity and born in sin . . . . Bankers own the earth. Take it away from them but leave them the power to create money, and, with a flick of a pen, they will create enough money to buy it back again. . . . Take this great power away from them and all great fortunes like mine will disappear, for then this would be a better and happier world to live in. . . . But, if you want to continue to be the slaves of bankers and pay the cost of your own slavery, then let bankers continue to create money and control credit.3
Professor Henry C. K. Liu is an economist who graduated from Harvard and chaired a graduate department at UCLA before becoming an investment adviser for developing countries. He calls the current monetary scheme a "cruel hoax." When we wake up to that fact, he says, our entire economic world view will need to be reordered, "just as physics was subject to reordering when man's world view changed with the realization that the earth is not stationary nor is it the center of the universe."4 The hoax is that there is virtually no "real" money in the system, only debts. Except for coins, which are issued by the government and make up only about one one-thousandth of the money supply, the entire U.S. money supply now consists of debt to private banks, for money they created with accounting entries on their books. It is all done by sleight of hand; and like a magician's trick, we have to see it many times before we realize what is going on. But when we do, it changes everything. All of history has to be rewritten.
The following chapters track the web of deceit that has engulfed us in debt, and present a simple solution that could make the country solvent once again. It is not a new solution but dates back to the Constitution: the power to create money needs to be returned to the government and the people it represents. The federal debt could be paid, income taxes could be eliminated, and social programs could be expanded; and this could all be done without imposing austerity measures on the people or sparking runaway inflation. Utopian as that may sound, it represents the thinking of some of America's brightest and best, historical and contemporary, including Abraham Lincoln, Thomas Jefferson and Benjamin Franklin. Among other arresting facts explored in this book are that:
The "Federal" Reserve is not actually federal. It is a private corporation owned by a consortium of very large multinational banks. (Chapter 13)
Except for coins, the government does not create money. Dollar bills (Federal Reserve Notes) are created by the private Federal Reserve, which lends them to the banks that lend them to the government, individuals and businesses. (Chapter 2)
Tangible currency (coins and dollar bills) together make up less than 3 percent of the U.S. money supply. The other 97 percent exists only as data entries on computer screens, and all of this money was created by banks in the form of loans. (Chapters 2 and 17)
The money that banks lend is not recycled from pre-existing deposits. It is new money, which did not exist until it was lent. (Chapters 17 and 18)
Thirty percent of the money created by banks with accounting entries is invested for their own accounts. (Chapter 18)
The American banking system, which at one time extended productive loans to agriculture and industry, has today become a giant betting machine. An estimated $370 trillion are now riding on complex high-risk bets known as derivatives – 28 times the $13 trillion annual output of the entire U.S. economy. These bets are funded by big U.S. banks and are made largely with borrowed money created on a computer screen. Derivatives can be and have been used to manipulate markets, loot businesses, and destroy competitor economies. (Chapters 20 and 32)
The U.S. federal debt has not been paid off since the days of Andrew Jackson. Only the interest gets paid, while the principal portion continues to grow. (Chapter 2)
The federal income tax was instituted specifically to coerce taxpayers to pay the interest due to the banks on the federal debt. If the money supply had been created by the government rather than borrowed from banks that created it, the income tax would have been unnecessary. (Chapters 13 and 43)
The interest alone on the federal debt will soon be more than the taxpayers can afford to pay. When we can't pay, the Federal Reserve's debt-based dollar system must collapse. (Chapter 29)
Contrary to popular belief, creeping inflation is not caused by the government irresponsibly printing dollars. It is caused by banks expanding the money supply with loans. (Chapter 10)
Most of the runaway inflation seen in "banana republics" has been caused, not by national governments printing money for the nation's needs, but by global institutional speculators attacking local currencies and devaluing them on international markets. (Chapter 25)
The same sort of speculative devaluation could happen to the U.S. dollar if international investors were to abandon it as a global "reserve" currency, something they are now threatening to do in retaliation for what they perceive to be American economic imperialism. (Chapters 29 and 37)
There is a way out of this morass. The early American colonists found it, and so did Abraham Lincoln and some other national leaders: the government can take back the money-issuing power from the banks. (Chapters 8 and 24)
The bankers' Federal Reserve Notes and the government's coins represent two separate money systems that have been competing for dominance throughout recorded history. At one time, the right to issue money was the sovereign right of the king; but that right got usurped by private moneylenders. Today the sovereigns are the people, and the coins that make up less than one one-thousandth of the money supply are all that are left of our sovereign money. Many nations have successfully issued their own money, at least for a time; but the bankers' debt-money has generally infiltrated the system and taken over in the end. These concepts are so foreign to what we have been taught that it can be hard to wrap our minds around them, but the facts have been substantiated by many reliable authorities. To cite a few –
Robert H. Hemphill, Credit Manager of the Federal Reserve Bank of Atlanta, wrote in 1934:
We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. 5
Graham Towers, Governor of the Bank of Canada from 1935 to 1955, acknowledged:
Banks create money. That is what they are for. . . . The manufacturing process to make money consists of making an entry in a book. That is all. . . . Each and every time a Bank makes a loan . . . new Bank credit is created -- brand new money.6
Robert B. Anderson, Secretary of the Treasury under Eisenhower, said in an interview reported in the August 31, 1959 issue of U.S. News and World Report:
[W]hen a bank makes a loan, it simply adds to the borrower's deposit account in the bank by the amount of the loan. The money is not taken from anyone else's deposit; it was not previously paid in to the bank by anyone. It's new money, created by the bank for the use of the borrower.
Michel Chossudovsky, Professor of Economics at the University of Ottawa, wrote during the Asian currency crisis of 1998:
[P]rivately held money reserves in the hands of "institutional speculators" far exceed the limited capabilities of the World's central banks. The latter acting individually or collectively are no longer able to fight the tide of speculative activity. Monetary policy is in the hands of private creditors who have the ability to freeze State budgets, paralyse the payments process, thwart the regular disbursement of wages to millions of workers (as in the former Soviet Union) and precipitate the collapse of production and social programmes.7
Today, Federal Reserve Notes and U.S. dollar loans dominate the economy of the world; but this international currency is not money issued by the American people or their government. It is money created and lent by a private cartel of international bankers, and this cartel has the United States itself hopelessly entangled in a web of debt. By 2006, combined personal, corporate and federal debt in the United States had reached a staggering 44 trillion dollars – four times the collective national income, or $147,312 for every man, woman and child in the country.8 The United States is legally bankrupt, defined in the dictionary as being unable to pay one's debts, being insolvent, or having liabilities in excess of a reasonable market value of assets held. By October 2006, the debt of the U.S. government had hit a breath-taking $8.5 trillion. Local, state and national governments are all so heavily in debt that they have been forced to sell off public assets to satisfy creditors. Crowded schools, crowded roads, and cutbacks in public transportation are eroding the quality of American life. A 2005 report by the American Society of Civil Engineers gave the nation's infrastructure an overall grade of D, including its roads, bridges, drinking water systems and other public works. "Americans are spending more time stuck in traffic and less time at home with their families," said the group's president. "We need to establish a comprehensive, long-term infrastructure plan."9 We need to but we can't, because government at every level is broke.
Money in the Land of Oz
If governments everywhere are in debt, who are they in debt to? The answer is that they are in debt to private banks. The "cruel hoax" is that governments are in debt for money created on a computer screen, money they could have created themselves. The vast power acquired through this sleight of hand by a small clique of men pulling the strings of government behind the scenes evokes images from The Wizard of Oz, a classic American fairytale that has become a rich source of imagery for financial commentators. Editorialist Christopher Mark wrote in a series called "The Grand Deception":
Welcome to the world of the International Banker, who like the famous film, The Wizard of Oz, stands behind the curtain of orchestrated national and international policymakers and so-called elected leaders. 10
The late Murray Rothbard, an economist of the classical Austrian School, wrote:
Money and banking have been made to appear as mysterious and arcane processes that must be guided and operated by a technocratic elite. They are nothing of the sort. In money, even more than the rest of our affairs, we have been tricked by a malignant Wizard of Oz.11
In a 2002 article titled "Who Controls the Federal Reserve System?", Victor Thorn wrote:
In essence, money has become nothing more than illusion -- an electronic figure or amount on a computer screen. . . . As time goes on, we have an increasing tendency toward being sucked into this Wizard of Oz vortex of unreality [by] magician-priests that use the illusion of money as their control device.12
James Galbraith wrote in The New American Prospect:
We are left . . . with the thought that the Federal Reserve Board does not know what it is doing. This is the "Wizard of Oz" theory, in which we pull away the curtains only to find an old man with a wrinkled face, playing with lights and loudspeakers.13
The analogies to The Wizard of Oz work for a reason. According to later commentators, the tale was actually written as a monetary allegory, at a time when the "money question" was a key issue in American politics. In the 1890s, politicians were still hotly debating who should create the nation's money and what it should consist of. Should it be created by the government, with full accountability to the people? Or should it be created by private banks behind closed doors, for the banks' own private ends?
William Jennings Bryan, the Populist candidate for President in 1896 and again in 1900, mounted the last serious challenge to the right of private bankers to create the national money supply. According to the commentators, Bryan was represented in Frank Baum's 1900 book The Wonderful Wizard of Oz by the Cowardly Lion. The Lion finally proved he was the King of Beasts by decapitating a giant spider that was terrorizing everyone in the forest. The giant spider Bryan challenged at the turn of the twentieth century was the Morgan/Rockefeller banking cartel, which was bent on usurping the power to create the nation's money from the people and their representative government.
Before World War I, two opposing systems of political economy competed for dominance in the United States. One operated out of Wall Street, the New York financial district that came to be the symbol of American finance. Its most important address was 23 Wall Street, known as the "House of Morgan." J. P. Morgan was an agent of powerful British banking interests. The Wizards of Wall Street and the Old World bankers pulling their strings sought to establish a national currency that was based on the "gold standard," one created privately by the financial elite who controlled the gold. The other system dated back to Benjamin Franklin and operated out of Philadelphia, the country's first capital, where the Constitutional Convention was held and Franklin's "Society for Political Inquiries" planned the industrialization and public works that would free the new republic from economic slavery to England.14 The Philadelphia faction favored a bank on the model established in provincial Pennsylvania, where a state loan office issued and lent money, collected the interest, and returned it to the provincial government to be used in place of taxes. President Abraham Lincoln returned to the colonial system of government-issued money during the Civil War; but he was assassinated, and the bankers reclaimed control of the money machine. The silent coup of the Wall Street faction culminated with the passage of the Federal Reserve Act in 1913, something they achieved by misleading Bryan and other wary Congressmen into thinking the Federal Reserve was actually federal.
Today the debate over who should create the national money supply is rarely heard, mainly because few people even realize it is an issue. Politicians and economists, along with everybody else, simply assume that money is created by the government, and that the "inflation" everybody complains about is caused by an out-of-control government running the dollar printing presses. The puppeteers working the money machine were more visible in the 1890s than they are today, largely because they had not yet succeeded in buying up the media and cornering public opinion.
Economics is a dry and forbidding subject that has been made intentionally complex by banking interests intent on concealing what is really going on. It is a subject that sorely needs lightening up, with imagery, metaphors, characters and a plot; so before we get into the ponderous details of the modern system of money-based-on-debt, we'll take an excursion back to a simpler time, when the money issues were more obvious and were still a burning topic of discussion. The plot line for The Wizard of Oz has been traced to the first-ever march on Washington, led by an obscure Ohio businessman who sought to persuade Congress to return to Lincoln's system of government-issued money in 1894. Besides sparking a century of protest marches and the country's most famous fairytale, this little-known visionary and the band of unemployed men he led may actually have had the solution to the whole money problem, then and now . . . .
http://www.webofdebt.com/excerpts/introduction.php
The Secret of Oz (by Mr Bill Still)
Wall Street Gets Eyed in Metal Squeeze
by Tatyana Shumsky and Andrea Hotter
Friday, June 17, 2011
Goldman Sachs Group Inc. and other owners of large metals warehouses are being scrutinized by the London Metal Exchange after being accused by users like Coca-Cola Co. of restricting the amount of metal they release to customers, inflating prices.
The board of the LME met on Thursday to discuss complaints from aluminum users and market traders, who say operators of warehouses, which also include J.P. Morgan Chase & Co. and Glencore International PLC, should be forced to allow the metal out more quickly to meet demand.
Aluminum prices have jumped 13% since the start of 2010 even though economic growth had been tapering off. Aluminum for delivery in three months on Thursday closed at $2,557 a metric ton on the LME, down 1.3% on the day.
Goldman, through its Metro International Trade Services unit, owns the biggest warehouse complex in the LME system, a series of 19 buildings in Detroit that house about a quarter of the aluminum stored in LME facilities.
Coca-Cola and other consumers say that Metro in particular is allowing the minimum amount of aluminum allowed by the LME?1,500 metric tons a day?to leave its facilities, and that Metro could remove much more, erasing supply bottlenecks and lowering premiums for physical delivery in the process.
Coca-Cola, which has complained to the LME, says it can take months to get the metal the company needs, even though warehouses are allowing aluminum to come in much more quickly. Warehouses, meantime, collect rent and other fees.
"The situation has been organized artificially to drive premiums up," said Dave Smith, Atlanta-based Coca-Cola's strategic procurement manager. "It takes two weeks to put aluminum in, and six months to get it out."
As a result of the complaints, the LME is considering changing its rules for warehouses, which would effectively double the minimum daily amount of metal that must be released.
"Metro has followed and will continue to follow the LME's possessive rules," said a Goldman Sachs spokesman. J.P. Morgan and Glencore declined to comment.
In recent years, major investment banks like Goldman and J.P. Morgan and commodities houses like Glencore have been snapping up warehouses around the world, turning the industry from a disperse grouping of independent operators into another arm of Wall Street. The LME has licensed about 600 warehouses around the world.
Glencore bought the metals-warehousing operations of Italian family-owned Pacorini Group and J.P. Morgan bought Henry Bath as part of its purchase of some of the commodities assets of RBS Sempra.
The transformation has raised questions about whether the investment banks, which also have big commodity-trading arms, are able to use their position as owners of warehouses to manipulate prices to their advantage.
The warehousing issue alarmed one trader enough to seek government intervention. Anthony Lipmann, managing director of metals trader Lipmann Walton & Co. Ltd., gave evidence to the U.K. House of Commons Select Committee in May 2011, raising concern about large banks and trading houses owning facilities that store other people's metal.
The banks have said they have walls between their various operations.
It also has raised questions about how they handle the materials, said Edward Meir, senior commodity analyst at MF Global. "Who's watching over situations involving whose metal is getting in and out first?" said Mr. Meir. "Who has priority?"
The U.K.'s Office of Fair Trading dismissed concerns that ownership of warehouses gives certain market players an unfair advantage, saying on Tuesday that there were no "obvious competition issues that would merit further investigation at this stage."
Goldman's Detroit warehouse holds about 1.15 million tons out of a total 4.62 million tons in LME-approved warehouses.
Since Goldman bought Metro early last year, the wait time for aluminum delivery in Detroit has increased to about seven months.
Metro charges its customers 42 cents a day for storing one metric ton of aluminum in Detroit, which is about the industry average. At 900,000 tons in the warehouses, Goldman is earning $378,000 a day on rental costs, or about $79 million in seven months.
"Warehouses are making a lot more money," said Jorge Vazquez, managing director of aluminum at Harbor Commodity Research. Goldman is "really the winner clearly, because if you want to take metal away from the location, you have to wait up to 10 months to get your metal out, and in the meantime you're paying rent."
Metro, meantime, is taking in metal. Metro also offers cash incentives to producers like Rio Tinto Alcan to store their metal in Metro's sheds for contracted periods, sometimes as much as $150 a ton, according to traders.
Once the metal is in the warehouse, the producers sell ownership to this metal on the open market. The new owner can't collect his metal for seven months because of the bottleneck. For that period, the new owner is stuck paying rent to Metro.
"The system is set up like a funnel, so you can dump large amounts of metal in the front end and only get a little out at the back end," said David Wilson, director of metals research at Société Générale SA. "It enables a situation where the rules of the warehousing system are taken advantage of."
Aside from warehouses, producers of the metal are benefiting, because they are able to charge more for their metal. Klaus Kleinfeld, chief executive of Alcoa Inc., said in an interview that supply-and-demand factors are leading prices higher.
"You can't blame the warehouses," Mr. Kleinfeld said.
U.S. aluminum sheet maker Novelis sent a letter to the LME in May "expressing concerns" about the warehousing situation, a company spokesman said.
The complaints led the LME to commission an independent study into the issue last July. That study recommended a sliding scale be adopted, rather than the fixed minimum of 1,500 tons a day. That would result in larger warehouse complexes being required to release more metal.
It effectively doubles the minimum amount required to be relinquished by Metro each day. The ruling would go into effect in April. The LME board on Thursday, however, failed to reach a consensus on the recommendations.
The LME warehousing system is designed to be the market of "last resort," meaning that industry can use it to sell excess stock in times of oversupply and as a source of material in times of extreme shortage.
But it has become the go-to market, in part because of the hefty cash incentives being offered by warehouses to store the metal.
The situation is made more aggravating for metal consumers because supply has far outweighed demand for most of the last decade, and there is more than 4.5 million metric tons of surplus metal stored in LME's warehouse system.
War on Drugs: 40 Years of Dismal Failure
COLUMN: War on drugs -- a policy that enriches criminals, ruins the lives of innocent people, and wastes taxpayer money -- needs to end after 40 years of dismal failure.
By Joe Romaine | June 17, 2011 2:36 PM EDT
If there ever was a failed US policy, war on drugs is it. Today, June 17, 2011 marks the 40th anniversary of this failure.
War on drugs, as its name suggest, is the movement to criminally punish any drug-related activity domestically and militarily crack down on foreigners attempting to export drugs to the US.
Domestically, it has led to the incarceration of millions of Americans. For example, as of May 28, 2011, 50.8 percent of the Federal prison inmate population was incarcerated for drug-related offenses.
The financial cost of catching, prosecuting, and jailing all these drug offenders is enormous and unquantifiable. I've heard the figure $1 trillion thrown around, but that doesn't take into account all the opportunity costs incurred.
The human cost is also staggering. You have the non-violent drug users who are jailed for the mere offense of possession. Once they're shoved in the underfunded and overcrowded US prisons, there is little or no rehabilitation. When they get out, the jobs market discriminates against their criminal records.
No wonder the majority of them become repeat offenders and are wasted for life.
Both abroad and domestically, you have the families, neighborhoods, communities, and entire cities torn apart by powerful criminal organizations.
Why blame that on the war on drugs, you ask?
Because war on drugs is single-handedly the biggest source of funding for criminal organizations in the entire world.
By criminalizing drugs, misguided governments have given criminals monopoly over the global drug trade industry, which is worth hundreds of billions of dollars per year (the United Nations Drug Control Program says $400 billion).
What do drug cartels do with hundreds of billions of dollars? They buy military-grade weapons (one cartel even built a submarine) and lure youngster with promises with riches. In the process, the ruin entire cities and plunged the entire country of Mexico into a mini-civil war.
If drugs were decriminalized and hundreds of billions of dollars in revenues were taken away from criminal organizations, do you really think they'd have enough money to wage a civil war in Mexico?
If drugs remain criminalized, there is no amount of law enforcement that will stop it because criminals simply won't give up a $400-billion industry.
It's time to stop lining the pockets of dangerous criminals.
It's time to stop bringing violence to the lives of thousands of innocent people.
It's time for the US government to scrap its failed 40-year-old war on drugs and regulate this industry for the good of all.
less than 5 grand traded today.
once we get some proof the company is truly executing the daily dollar volume should increase 10 fold. I have a feeling we'll get some proof this month.
- it only stands to reason that Ezra will snap a few photos, after all he owes for hiding the Q4 implosion from us for at least 4 months while his insiders/financiers dumped into the run-up where we were all expecting $10M in rev's as per his guidance.
The pipeline of sales we have generated starting in January 2011 are now being permitted and installations are expected to begin with the first shipment of modules being delivered in 10-14 days. - 05/11/2011
I agree wholeheartedly. Every "job" photo on the company website is over 1 YEAR old.
Supposedly they have tons of work on their plate, a growing backlog according to the company. We should be inundated with job photos if you ask me. Hell if they would publicly release where these jobs are shareholders themselves could swing by and get some snaps proving CSKH is for real. Then you'd see some pps movement!
Promotional campaign?
Where is their evidence? Someone would have posted here if they received a tout. There were 3 PR's in May. What that the pump, LOL.
"...At the end of May and the first week of June, Clear Skies Solar Inc. issued press releases to note that they have won new contracts for their solar products while the stock was also the subject of a promotional campaign back in May..."
Congressman Ron Paul:
"Strictly speaking, it probably is not necessary for the federal government to tax anyone directly; it could simply print the money it needs. However, that would be too bold a stroke, for it would then be obvious to all what kind of counterfeiting operation the government is running. The present system combining taxation and inflation is akin to watering the milk: too much water and the people catch on."
The National Debt and the Deficit
These two little bookkeeping items are not the same thing. Few Americans actually know the difference, but the difference is quite important. We continually hear members of Congress, president after president, and political pundits call for "reduction in the debt." But what does that really mean? Here's how it works in the most simplified way to fit into this document:
Let's say that for 2002, Congress and the President decide they want $1.7 trillion dollars to fund this bloated pig called our government. We know that 100% of all personal "income" taxes extorted by the IRS goes to the "Federal" Reserve Banking System and does not fund a single function of the government. So, let's take the people's blood and sweat off the table.
What other revenues does the government collect? Corporate taxes, social security taxes, constitutional revenues such as excise taxes on cigarettes, alcohol, tobacco, firearms, tires, etc., tariffs on trade, military hardware sales, and some minor categories. Let's say that those revenues will total $900 billion dollars. The politicians want $1.7 trillion to spend on their favorite welfare programs, wars and foreign welfare, but have a short fall of $800 billion dollars. This is called the deficit and the deficit, created by the spending of Congress, creates the "national debt."
How? Because the politicians are $800 billion dollars short, they simply call up Al Greenspan and borrow your children's and grand babies' futures. The "Federal" Reserve Banks don't loan anything of value to Congress. They aren't banks; they're really an overpaid, powerful, private accounting service. When that $800 billion dollars worth of ink is transferred to the Treasury, it gets piled on top of the existing "national debt."
This is how the magical money machine works. Congress overspends. It borrows from this accounting firm called the "Fed" and then turns around and tells you to pay for these crimes against the people. In other words, Congress basically pays the bills with social security and borrowed ink from the "Fed." Pretty slick scam, wouldn't you say?
The people of America are also responsible to a large degree for this out-of-control spending. Americans have been bred to a welfare dependent mentality. Special interest groups who have no interest in the U.S. Constitution, demand that billions of dollars be spent on their pet interests. Billions upon billions of dollars have been unconstitutionally thrown to foreign governments, some days our friend, a week later our enemies. They are only our friend as long as the U.S. throws money at their corrupt governments.
Billions of dollars have unconstitutionally been spent on grants to colleges and universities, which in turn sell their research to the highest bidder, paid for by the sweat off the back of the little guy out in America. No, they don't return any back to the little guy who funded these studies and research programs.
As long as the American people themselves condone continued unconstitutional spending by Congress, the longer they will violate their oath of office, and continue to fund unconstitutional expenditures, placing your children and grand babies in a state of unpayable, massive debt.
Unless The People demand an end to this insanity, our economy eventually will collapse under the weight of this massive, unpayable debt, no matter how much ink the "Fed" transfers into the coffers of the U.S. Treasury. The pain of withdrawal from unlawful government hand-outs will be far less now than it will be down the road.
America became the greatest, debt free nation on earth by a resourceful, independent, self reliant people. Sadly, today we have a large percentage of our population who can't get through the day without a government memo telling them how, step-by-step, with a redistribution of average, ordinary Americans assets into the hands of the unproductive. A very sad commentary to what made our nation great and prosperous.
it doesn't matter which party is in office, there is no surplus and the debt cannot be paid down, it can only grow exponentially as long as Congress and the President have the central bank at their fingertips.
A "balanced budget" is nothing more than good political rhetoric, but in reality, it's a pipe dream strictly for public consumption. How can you balance your budget if you have no money to spend and are trillions of dollars in the hole? You can't. It's just another well crafted illusion to keep the masses pacified.
You can fool some of the people some of the time, but the American people have awakened to this monumental theft and are demanding the only real solution that can be implemented: Abolishing the central bank, and a return to a constitutional monetary system with no income tax.
The central banks need a full default from Greece. They'll love it.
Moving control of the quantity of money from private banks to the government is the best solution to prosperity for the country.
The two party system is propped up by the central banks. People watch the puppet show and complain after each party fails to have the citizen's interest. The National Debt continues to grow as we pay interest only on the loans from the central banks.
The bottom line: No More National Debt. All our money is created out of debt borrowed from the private corporation of the Federal Reserve System, or other private foreign central banks. But nations don't have to borrow money from the central banks. Sovereign nations can create their own money -- debt free -- just as Abraham Lincoln did to win the Civil War. This is the secret that’s been hidden from us for over 100 years.
Repeal the Federal Reserve Act and the problem is solved. Hunger, poverty, recessions. All over. Write your congressman. At least let them know that you know you're being scammed.
Write your representatives and the President and demand:
1) Debt-free US issued currency, not currency borrowed from the private corporation of the Federal Reserve System.
2) Increase fractional reserve banking to full reserve
3) AUDIT the Federal Reserve System.
4) Pass a Balance Budget Amendment to the Constitution
Research this information for yourself. The Grace Commission was formed by the Reagan administration to try to solve the national debt crisis.
"100 percent of what is collected is absorbed solely by interest on the Federal debt ... In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their Government." -- Grace Commission Report Jan 12, 1984
“If fundamental changes are not made in Federal spending, as compared with the fiscal 1983 deficit of $195 billion, a deficit of over ten times that amount, $2 trillion, is projected for the year 2000, only 17 years from now. In that year, the Federal debt would be $13.0 trillion ($160,000 per current taxpayer) and the interest alone on the debt would be $1.5 trillion per year ($18,500 per year per current taxpayer).” – Grace Commission Report Jan 12, 1984
GOOGLE : Secret of Oz, Money as Debt, Creature from Jekyll Island, and America: Freedom to Fascism
GOGGLE : Why an Income Tax is Not Necessary to Fund the U.S. Government
There is hope, especially here in America. History has shown that America has fought to create its own money for the last 300 years. In fact, in no other nation on earth has the population fought for it as successfully and with such determination over the centuries as America. All we need in the face of this oncoming first depression of the 21st century is a little education. We can make this the new civil rights movement--the new human rights movement. The big bankers now stand more exposed than ever before. Let’s use history to guide our path today.
This hasn’t been an issue since the time L. Frank Baum wrote the Wonderful Wizard of Oz. Why? Because after the William Jennings Bryan era (1920's), the bankers learned that in order to put the lid on this issue they had to buy up the nation’s press. And they did. But this won’t work in the Internet age. Television commentators are now asking just what is the Federal Reserve and where does their money come from? The answer is they make the money up out of thin air and then have the audacity to loan it to us. The interest that the government has to pay is where our income taxes go. That was the deal the Fed made with the government when the Federal Reserve Act was rammed through Congress on Dec. 23, 1913.
And what about the principal? The principle is never repaid, but the interest just keeps compounding. And it’s that interest that’s killing us. We’ll never be able to repay it. No nation ever has been able to do so--except for President Jackson in 1836.
Greek debt tsunami could reach US shores
Why you should care about a financial crisis half a world away
6/16/2011
It could be the default heard around the world. If Greece can no longer make payments on its national debt, the financial shockwaves may rock your local bank.
As the Greek government teeters and European countries appear deadlocked over a rescue plan, holders of Greek debt face the biggest immediate risk. But the question many investors are asking — just as they did when the collapse of Lehman Bros. sparked the Panic of 2008 — is who, exactly, holds that debt?
“This fear of Greek contagion breeds not only a credit crisis but a liquidity crisis, not only in Europe,” said Lincoln Ellis, a managing director at the investment firm Linn Group. “It could spread to the American banking sector as well.”
Much of Greece’s shaky debt is held on the books of large European banks, which would take the brunt of the impact of a possible default. With the odds of that increasing, bond rating agency Moody’s investor Service on Thursday threatened to downgrade credit ratings for three major French banks: BNP Paribas, Credit Agricole and Societe Generale over their exposure to Greek debt.
The banks have said that any default by Greece would be manageable. But in a world where markets are so interconnected, financial risk flows down the same river of capital. Those French banks, for example, raise a sizeable chunk of money by selling debt to the ten largest U.S. money market funds.
Story: Greek leader battles revolt over austerity plan
As U.S. banks have expanded to compete on a global playing field, they've increased their exposure the financial stresses on European lenders. Just as the Panic of 2008 was sparked by a relatively small pool of subprime mortgages, a default by Greece could spark wider defaults by subprime government borrowers like Portugal, Spain and Ireland.
U.S. bankers could also be at risk if they've lent too much money to investors placing big bets, so-called credit default swaps, that are supposed to pay off if Greece defaults on its bonds. But, much like the lead-up to the Panic of 2008, it’s not well-known just who is holding the losing side of those bets.
The risk to the banking system is that a concentration of bad bets overwhlems one of the nodes in the global financial network, short-circuiting the credit markets and forcing up the cost of borrowing. Much the same thing happened in 2008, when insurance giant AIG was inundated with a flood of redemptions for credit default swaps on mortgage debt that forced the Federal Reserve to have to help bail the company out.
On Thursday, U.S. Senators Bob Corker, R-Tenn., and Tom Coburn, M.D., R-Okla., wrote to Federal Reserve Chairman Ben Bernanke expressing “concerns over the exposure of U.S. financial institutions to a Greek or other European country default.”
The letter cited a recent report published by the Bank for International Settlements showing what the Senators said "appears to be nearly $200 billion in direct and indirect exposure from U.S. firms to the debt of Greece, Ireland, and Portugal."
Coburn and Corker asked for more information on "how American financial institutions, and by extension the American economy, would be impacted by a default of one or more of these countries."
Greece’s debt problems have also invited comparisons to the current debate in Washington over the U.S. budget. The comparisons are not all that meaningful. While the U.S. economy — which is some 50 times bigger than Greece's — is muddling through a weak recovery, Greece is suffering through a accelerating recession. Greece's economy contracted by 7.4 percent (on an annual basis) in the fourth quarter of last year after shrinking by 5.5 percent in the second and third quarters. The U.S. also benefits from the dollar’s role as the world’s reserve currency.
For now, worries about the impact of a Greek default on the euro have sent investors fleeing to the relative safety of the dollar and U.S. Treasuries. But the longer Congress and the White House remain deadlocked over raising the Treasury’s legal borrowing authority, the greater the likelihood that buyers of U.S. debt demand higher interest rates to cover the increased risk of default.
The sword of a debt downgrade is hanging over the U.S. too. Credit rating agencies have said the nation's pristine AAA debt rating is threatened. That means a bet on dollar-backed securities — usually as safe as it gets — is at risk because the U.S.'s massive debt burden puts it at risk of default.
Though the prospect of a Greek-like default in the U.S. remains remote, it’s just one more worry on a long list of concerns that has fueled renewed pessimism in the economic outlook. Uncertainty about the impasse over how to trim the U.S. deficit has been a major reason businesses have slowed their hiring plans, according to William Dunkelberg, president of the National Federation of Independent Businesses, a trade Association representing small businesses.
“They’d like some idea of how Congress is going to fix the budget problem,” he said. “Are they going to raise my taxes or are they going to cut spending? Or are we going to do nothing and blow up like Greece in which case we have riots on the streets and I have to start boarding up my windows?”
http://www.msnbc.msn.com/id/43427742/ns/business-world_business
at least the volume is creeping back up.
As Solar Power Advances, Companies Look to Profit
By Jennifer Booton
Published June 15, 2011
Reuters
Corporate giants such as Google (GOOG: 502.95, -5.42, -1.07%) are now delving into the business of solar power, and a key industry group says adoption will only deepen as energy from the sun catches up to the grid and possibly becomes the cheapest way of generating electricity.
As the economic feasibility of solar continues to advance, it's likely more companies will enhance profits by either fixing operations on solar power or investing in programs that lead to its development and adoption.
“Solar (photovoltaic) will be a game changer,” said James Prendergast, IEEE senior member and executive director. “As the cost of electricity from solar continues to decrease compared to traditional energy sources we will see tremendous market adoption, and I suspect it will be a growth limited only by supply.”
Some of the world’s biggest companies have already invested in the alternative energy. Dow Jones, which is owned by News Corp. (NWSA: 16.23, -0.15, -0.92%), also the parent of FOX Business, is installing a 4.1 megawatt solar power system at its 200-acre campus in South Brunswick, N.J., and Google on Tuesday unveiled its largest investment in solar projects to date.
The tech giant is teaming up with SolarCity to open a new $280 million fund to help residents build solar power systems on their homes. The fund is targeted toward people who desire solar power but do not want to make the large upfront payment to purchase the systems.
Companies are likely entering the market because of the economic feasibility and potential financial benefits of solar PV, according to Prendergast. Solar energy requires high capital costs but lower operating expenses, while grid power requires relatively low capital costs and high operating expenses.
“To homeowners that capital cost can be an impediment for moving forward,” he said. “What Google has done is remove some of that barrier.”
In opening a financing option, Google is able to generate returns on its investment with little operating costs, he said.
“Solar is becoming attractive to industry primarily due to the economic reasons,” he said. “From Google's perspective, it is very much consistent with their core values.”
The world’s largest technical professional association, IEEE said solar photovoltaics is gaining momentum and is poised to challenge fossil fuels. Within the next few years solar energy may approach grid parity, where the cost of solar energy will be almost equal to the cost of deriving energy from alterative sources, according its study.
As solar PV continues to become more affordable, it’s likely that more companies will try to power their own operations using solar panels, such as Dow Jones' office in New Jersey, particularly since solar panels enable them to derive a significant benefit from a virtually unused space, such as the roof.
The organization said it is set on helping industries adopt solar successfully while convening with experts to overcome barriers to broader solar PV system adoption. IEEE is hosting a conference next week where it will discuss the future of solar power with key industry leaders, according to Prendergast.
Solar PV capacity has been increasing at an average annual growth rate of more than 40% since 2000, according to the International Energy Association. By 2050, the association expects that solar PV will provide 11% of global electricity production.
Yet the industry still faces challenges as it struggles to compete with traditional power sources and other forms of alternative energy, and it still desperately craves new technologies and financing that may improve its cost effectiveness.
“There’s a really healthy competition on the technology front right now,” said Steven Ringel, IEEE Senior Member and Director of the Institute for Materials Research at Ohio State University.
Read more: http://www.foxbusiness.com/markets/2011/06/15/as-solar-power-advances-companies-look-to-profit/#ixzz1POvKdJRZ
right. Q2 ends 6/30 and the report is due within 45days after the close of a quarter, So on or before Aug 15 we'll see some numbers.
from the PR last week...
"...The project installations are beginning which will start to relieve the cash flow issues of the past...."
So if they are just "beginning" on all these installations and Q2 will close out in 2 weeks or so, it seems to me most of the $8M in "closed" agreements won't show up on the balance sheet until Q3 (due Nov 15)
Shareholders are still going to have to buy on faith for some time to come.
Transfer Agent
Equity Transfer Services Inc.
Ph: 416-361-0152
Fax: 416-361-0470
120 Adelaide St W, Suite 420, Toronto, ON
OS: 30,905,844 as of 2/28/2011
46,141,434 if fully diluted
http://www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00008380&fileName=/csfsprod/data117/filings/01731918/00000001/f%3A\Eugenic\2011\2NDQ\11FEBMDA.pdf
Through Dyami Energy, the Company commenced operations in August 2010 to drill an initial Eagle Ford shale
test well on the Matthews Lease in Zavala County, Texas. The Matthews/Dyami #1H well was spud in on October
15, 2010 and was drilled to a measured depth of 8,563, feet which includes a 3,300 foot “in section” lateral into the
Eagle Ford shale formation. A shot point sleeve was installed in the Eagle Ford shale formation to facilitate a multi
stage frac completion.
The well was logged extensively and 36 sidewall cores were taken from 4 key formations in descending order, the
San Miguel, the Austin Chalk, the Eagle Ford and the Buda. The logs were interpreted by Weatherford International
Ltd and the sidewall cores were analyzed by Core Laboratories and Weatherford and based on those results the
Company is formulating a detailed frac design and completion plan for the Dyami/Matthews #1 H well.
On January 20, 2011 the Company spud its 100% working interest Murphy/Dyami #1 test well on its 2,637 gross
acre Murphy Lease located in Zavala County, Texas. The well was drilled to to a vertical depth of 4,588 feet into
the Buda formation. The well was logged and sidewall cores were taken from 5 key formations the Escondido, the
Serpentine, the Eagle Ford shale, the Georgetown and the Buda. The logs were interpreted by Weatherford
International Ltd. and the sidewall cores have been analyzed by Core Laboratories and the Company is formulating
a completion program.
For the six months ended February 28, 2011 the Company incurred $2,014,009 in expenditures related to its
Matthews and Murphy Leases, Texas.
The Company expects to apply additional capital to further enhance our property interests. As part of the
Company’s oil and gas development program, management of the Company anticipates further expenditures to
expand its existing portfolio of proved reserves. Amounts expended on future exploration and development is
dependent on the nature of future opportunities evaluated by the Company. These expenditures could be funded
through cash held by the Company or through cash flow from operations. Any expenditure which exceeds available
cash will be required to be funded by additional share capital or debt issued by the Company, or by other means.
The Company’s long-term profitability will depend upon its ability to successfully implement its business plan.
The Company’s past primary source of liquidity and capital resources has been loans and advances, cash flow from
oil and gas operations and proceeds from the sale of marketable securities and from the issuance of common shares.
http://www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00008380&fileName=/csfsprod/data117/filings/01731918/00000001/f%3A\Eugenic\2011\2NDQ\11FEBMDA.pdf
Revenue for the six months ended February 28, 2011 was down $26,685 to $36,035 compared to $62,720 for the
same period in 2010. The decrease in revenue during 2011 is attributed to lower production volumes and lower
commodity prices received. Net loss and comprehensive loss for the six months ended February 28, 2011 was
$215,362 compared to $117,045 for the comparable six month period in 2010. The increase in loss during 2011 was
primarily related to decreases in revenue and increases in administrative expenditures partially offset by an expense
recovery and foreign exchange gains.
For the six months ended February 28, 2011 the Company’s cash position increased by $43,351 to $87,127
compared to cash of $43,776 at August 31, 2010. At February 28, 2011 the Company’s accounts receivable was
$116,011 representing an increase of $62,951 compared to $53,060 at August 31, 2010. For the six months ended
February 28, 2011 current liabilities increased by $3,252,572 to $4,094,996 compared to $842,424 at August 31,
2010. Long term liabilities decreased by $1,004,459 to $20,792 compared to $1,025,251 at August 31, 2010. The
Company has a working capital deficiency of $3,891,857 at February 28, 2011 compared to a working capital
deficiency of $744,262 at August 31, 2010.
During the six month period ended February 28, 2011, 1,350,247 common share purchase warrants were exercised
at $0.07 for proceeds of $123,768.
During the six month period ended February 28, 2011 the Company received US$2,160,000 and CDN$149,000 and
issued promissory notes bearing interest at 10% per annum. Interest is payable annually on the anniversary date of
the notes.
http://www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00008380&fileName=/csfsprod/data117/filings/01731918/00000001/f%3A\Eugenic\2011\2NDQ\11FEBMDA.pdf
Eagleford Energy Inc. is incorporated under the laws of the Province of Ontario, and is registered as an extraprovincial
company in Alberta. The Company is a reporting issuer with the United States Securities and Exchange
Commission and the Company’s common shares trade on the Over-the-Counter Bulletin Board (OTCBB) under the
symbol EFRDF.
The Company’s operations consist of a 0.5% Non Convertible Overriding Royalty in a natural gas well located in
Haynes, Alberta, Canada a 5.1975% working interest in a natural gas unit located in Alberta, Canada, an 85%
working interest before payout (69% working interest after payout) in Matthews lease comprising 2,629 gross acres
of land in Zavala County, Texas. In addition, the Company holds a 100% working interest in the Murphy lease
comprising approximately 2,637 acres of land in Zavala County, Texas subject to a 10% carried interest on the
drilling costs from surface to base of the Austin Chalk formation, and a 3% carried interest on the drilling costs
from the top of the Eagle Ford shale formation to basement on the first well drilled into a serpentine plug and for the
first well drilled into a second serpentine plug, if discovered. The Company also holds a 0.3% net smelter return
royalty on eight mining claims located in Red Lake Ontario which is carried on the Consolidated Balance Sheets at
$Nil.
The Company’s Unaudited Consolidated Financial Statements for the period ended February 28, 2011 and 2010
include the accounts of the Company, its wholly owned subsidiaries 1354166 Alberta Ltd. and Dyami Energy from
the date of acquisition August 31, 2010.
On November 12, 2009, the Company’s wholly owned subsidiary 1406768 Ontario Inc. changed its name to
Eagleford Energy Inc. On November 30, 2009 the Company amalgamated with Eagleford Energy Inc. and upon the
amalgamation the entity's new name became Eagleford Energy Inc.
http://www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00008380&fileName=/csfsprod/data117/filings/01731918/00000001/f%3A\Eugenic\2011\2NDQ\11FEBMDA.pdf
Toronto, May 2, 2011 – Eagleford Energy Inc. (OTCBB “EFRDF”) (“Eagleford Energy” or the “Company”) announces that it has entered into a consulting agreement with Stockwire Research Group Inc., of Austin, Texas (“Stockwire”) to provide corporate marketing and public relations services to the Company for a period of six months. The Company has agreed to compensate Stockwire by issuing 100,000 restricted common shares and 50,000 restricted common share purchase warrants exercisable at US $1.25 per common share for a period of 12 months from the date of issue.
The Company is also pleased to announce that the Matthews/Dyami #3 well has reached its projected target depth to the San Miguel formation and testing is currently underway. The Company’s Matthews Lease comprises 2,629 acres of land in Zavala County, Texas and is situated adjacent to the Redhawk land block under development by Petrohawk Energy Corporation (NYSE: HK). Zavala County, Texas is part of the Maverick Basin of Southwest Texas and downdip from the United States Geological Studies north boundary of the Smackover-Austin-Eagle Ford total petroleum system. This area is often referred to as the oil window of the present Eagle Ford shale play
For further information, please contact:
Eagleford Energy Inc.
Investor Relations
Telephone: 877-723-5542
http://www.sedar.com/CheckCode.do;jsessionid=0000_KVpP6762vAqpN1eco4AoIs:-1
70 would be nicer.
A moving pps attracts eyeballs. Baring a PR that will attract new investors, we need a pps on the move!
I hear you, we all took gas on that 2010 flub. Thats what happens when all your work comes from a single source and something falls apart.
In 2011 they have a different model. They hired talented sales people from the industry with their rolodex's full of contacts. To date they've "closed" $8.1M in diversified sales.
I think we longterm shareholders will be rewarded for sticking it out here. Its obvious the selling has dried up. It's only a matter of time before people start to see the true value here.