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WAMU has been seized eom
I read that earlier today. Europe is not the real problem as their central banks will support a stronger dollar or else imports from the US will rise thereby hurting European business. The far east is the sticking point. When not if they start really dumping dollar denominated assets the US dollar will become toast on the international markets.
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mmayr- I don't know if you are aware of this, but our federal reserve bank is a privately owned corporation. And I don't have the exact percentage but 60-70% ownership is foreign nationals- British, Dutch, Belguim, France
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Thank you for that video. I just finished watching it. While I understand the principles of banking, the depth of my knowledge is not near as limited as it was before. One president he missed was Kennedy. Amid all the conspiracy theories no one seems to mention that what he was working on at the time of his assasination was the creation of a US currency to replace the federal reserve note as legal tender. I have always said the elected leaders of our country are only mouthpieces for the real people running the show. Thank you again
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another half million at the ask. eom
Hi extra and welcome to the board. It's good to see at least someone is making money on this stock. I've always maintained it was possible. I tried years ago to investigate offshore naked shorting but was undercapitalized. That is definately the way to go not just on this stock but hundreds of others in pinkyworld. Best of luck to you.
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I never had any respect for Greenspan. It was his loose money policies that caused this mess in the first place. Have a problem? We'll just throw more cheap money at it. The piper has played and now wants his due. It not only delayed the inevitable, it magnified the consequence many fold. Bailout or not, this is not going to be pretty. And forget the price tag on the bailout. It will cost way more. Congress is facing an election in November also. It would be political suicide to go back to the voters and say I voted to bail out Wall street but nothing for Main street. Look for quite a few hundred billion to be added to this before it's over. It would also be hari kari to ask the voters to pay more taxes to help fund this bailout. So the printing presses will be working full time for years. Great for gold and silver. Hold the physical if you can as confiscation is becoming a possibility IMHO.
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some of these big buys at the ask are not chump change.
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EOD dow crashing hard, Congress must be balking at bailout.
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OS count updated in iBox.eom
calling the company and talking to the CEO or the IR person is fine. You can get decent info using that avenue. Real DD is disinterested 3rd party verifications of what the company says and does. Just FYI
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half million at the ask .022 eom
I am seeing lots of buying and very little selling. FWIW
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Geez, I'm only 60 and do that quite often. LOL
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write your congressman and both senators and express that outrage that these people got away with hundreds of billions in salaries and bonuses. Demand restitution and retribution. It's your tax dollars and your representatives that are supposed to be the gatekeepers. I do it daily.
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from the UK, a long read but great perspective:
http://www.investorsinsight.com/blogs/john_mauldins_outside_the_box/archive/2008/09/22/observations-on-a-crisis.aspx
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long but good read from the UK
http://www.investorsinsight.com/blogs/john_mauldins_outside_the_box/archive/2008/09/22/observations-on-a-crisis.aspx
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U.S. Treasury Widens Plan to Buy Bad Debt
By Dawn Kopecki
Bloomberg News
Sunday, November 21, 2008
http://www.bloomberg.com/apps/news?pid=20601087&sid=aYXtwpG9mw9g&refer=h...
WASHINGTON -- The Bush administration widened the scope of its $700 billion plan to avert a financial meltdown by including assets other than mortgage-related securities.
The U.S. Treasury submitted revised guidance to Congress on its plan a day after first submitting it, as lawmakers and lobbyists push their own ideas. Officials now propose buying what they term troubled assets, without specifying the type, according to a document obtained by Bloomberg News and confirmed by a congressional aide.
The change suggests the inclusion of instruments such as car and student loans, credit-card debt, and any other troubled asset. That may force an eventual increase in the size of the package as Democrats and Republicans in Congress negotiate the final legislation with the Bush administration, analysts said.
"The costs of the bailout will be significantly higher than originally considered or acknowledged," said Josh Rosner, an analyst with independent research firm Graham Fisher & Co. in New York. "How, given these changes, can the administration and Federal Reserve believe they are being forthright in their unrevised expectation of future losses?"
In another change today, the Treasury said it would limit its $50 billion plan for insuring money-market funds to those held by investors as of Sept. 19, excluding any subsequent contributions.
The American Bankers' Association, which had expressed concern about the plan last week, praised the move, saying it would eliminate an incentive for savers to shift out of bank accounts into money-market funds.
In its latest guidance on the bad-debt fund, the Treasury said firms that are headquartered outside the U.S. will now be eligible.
U.S. Treasury Widens Plan to Buy Bad Debt
By Dawn Kopecki
Bloomberg News
Sunday, November 21, 2008
http://www.bloomberg.com/apps/news?pid=20601087&sid=aYXtwpG9mw9g&refer=h...
WASHINGTON -- The Bush administration widened the scope of its $700 billion plan to avert a financial meltdown by including assets other than mortgage-related securities.
The U.S. Treasury submitted revised guidance to Congress on its plan a day after first submitting it, as lawmakers and lobbyists push their own ideas. Officials now propose buying what they term troubled assets, without specifying the type, according to a document obtained by Bloomberg News and confirmed by a congressional aide.
The change suggests the inclusion of instruments such as car and student loans, credit-card debt, and any other troubled asset. That may force an eventual increase in the size of the package as Democrats and Republicans in Congress negotiate the final legislation with the Bush administration, analysts said.
"The costs of the bailout will be significantly higher than originally considered or acknowledged," said Josh Rosner, an analyst with independent research firm Graham Fisher & Co. in New York. "How, given these changes, can the administration and Federal Reserve believe they are being forthright in their unrevised expectation of future losses?"
In another change today, the Treasury said it would limit its $50 billion plan for insuring money-market funds to those held by investors as of Sept. 19, excluding any subsequent contributions.
The American Bankers' Association, which had expressed concern about the plan last week, praised the move, saying it would eliminate an incentive for savers to shift out of bank accounts into money-market funds.
In its latest guidance on the bad-debt fund, the Treasury said firms that are headquartered outside the U.S. will now be eligible.
Dilution it was and is. Sorry, guys, but I'll take the word of a transfer agent over the word of a pinkie CEO any day. TA's have no reason to lie and can't do things behind the back of shareholders. I'm still holding but when I need the tax offset, I'm gone. I know a lot of you believe in Clayton and like to hear what he tells you. It seems that what he says and what he is doing are 2 different things. This is confirmed by the TA's numbers. Market makers are doing their job making a market for this security. Flippers can account for some of the volume. The volumes being traded vs. the supposed float vs. the share price can only mean dilution on a fairly large scale. Been trading pennies for many years and seen this happen too many times. Longs screaming manipulation and curse the flippers and when the real numbers are found out, it turns out almost always to be dilution. Sorry, guys, that's my take on this whole situation.
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mmayr- we're in a lot closer agreement than you may think. I too realize the necessity of the bailout. I don't like it but the alternative would be far worse. The point I'm trying to make more so is the fact that so many people have skipped with billions in salaries and bonuses and dividends and are laughing all the way to the bank while the hard earned monies of average people like us are paying for their misdeeds. I guess what I'm trying to say is I want my pound of flesh. Inept regulators should be fired. Investigations into what went on in the boardrooms should be convened. Did you see the night Lehman went under? People were taking boxes of stuff out of the building and no one was there to stop them. Any evidence of criminal activity went walking away into the night. I want the people charged with protecting taxpayer interests held accountable. I don't think I'm asking too much.
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midrew- you and I may disagree on the future of this company, but I do respect your methods of collecting DD.
Thank you
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bailout after bailout after bailout, trillions of our tax dollars are now at risk with no consequences to the perpetraters of this legal theft. Show me a politician that will go to his/her district and tell the voters that he supports raising taxes to pay for all this and I'll show you a politician that will be out of a job at the next election. More and more dollars will be printed to cover these costs and we will all be feeling the effects of inflation. $4 gas- cheap; $2 bread- a screaming sale ; 5% interest on your savings account at the local bank- loss of purchasing power every day. The financial house will not collapse but will be remade from the foundation up. There will be no total economic decimation but there will be plenty of economic pain to go around. The best protection from all this will not surprisingly come from that old favorite "barberous relic". None other than gold itself- and don't forget silver. Semper Fi
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record deficits, financing 2 wars, presidential candidates talk of more spending, bailouts to the tune of $trillions, absolutely no fiscal discipline in Washington, gov't printing presses running full blast on overtime. There is no better time to be in precious metals.
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Isn't this triple witching day? That day usually clogs servers. I don't know otherwise. I log on and stay logged on until I shut down.
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now at 27¢ eom
200,000 at the ask just went off and it didn't budge.
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I'm showing over a million volume in the first 2 minutes. Is this right?
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Venture- someone just provided phone numbers for contact information. give them a call with your problem
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http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32275985
just an update- my daughter did not have to go for a second tour in Iraq- profile. She'll be getting discharged with a small disability pension shortly. Her boyfriend is doing his 3rd tour there right now. He comes home in April and a Florida wedding is planned.
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If you think the politicians are going to change, you have a lot more faith than me. Corruption is rampant in Washington. Jefferson had the right idea- about every 50 years get rid of the whole mess and start all over or it will become corrupt(not a quote just a paraphrase). It's sad when we have in our society many good leaders that could reverse the decline, but their disdain for politics and politicians keeps them silent.
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I agree on the dangers of China, but not in the same perspective. We are at war with them now but not in the traditional sense. It's an economic war. The US won the cold war not with bombs and military might. We bankrupted the USSR. And don't think China doesn't know how we did it. And corporate America is helping them right along. Stretched American influence throughout the world costs big buck too. If you read "The Rise and Fall of the Roman Empire" just substitute USA for Rome in the text and you have a pretty good idea where we're headed. Radical changes are needed both internationally and domestically to stave off collapse. No politician has enough guts to even suggest what really needs doing. Our grandchildren will be living in a far different USA than we know today.
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a very valid point worth considering. as our biggest creditor in the region, they certainly wouldn't want to be aggressive towards the US. actually I don't fear China that much either for the same reason. Wars nullify debts.
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you should maybe add to that- no margin. periodic swings can trigger margin calls even if the long term is positive.fwiw
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peorge- a very large majority of penny stocks are shorted off shore. SEC can do nothing to stop that on foreign exchanges. Hedge funds and toxic financiers set up foreign entities in off shore locations for that sole purpose.
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I understand that you can put a loan-exempt restriction on your account to keep the broker from lending them out. Call your broker and inquire
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uplist, convention, national distributor, and don't forget heppie as the 4th pillar. until these happen the pps will pretty much be static, which may not be all that bad considering the rest of the market.
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I think Washington is in need of the same house cleaning going on at Wall street. I just read an article where the auther claimed it was Phil Gramm that slipped in amendments to laws to keep the gov't from regulating derivatives. He did the same to allow enron to manipulate energy. And this guy was the economic advisor for McCain and probably would still be if not for his mouth. A job as treasury secretary was in the wings. Jefferson called it right over 200 years ago.
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read the note on form T. They were sold all day and just reported at 4:10
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IMHO silver has a long way to go before peaking. I've been accumulating since $4.50 and won't sell under $50. Read Ted Butler and Jason Hommel for good silver info.
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