Tara Gold Resources (fka TRGD)

[lootie]

An interesting post uplifted of another board.Indirectly,it makes a good case for being in gold,silver and hard commodities-preferably with cashflow.(come on TARM)

"I have never seen, nor did I ever expect to see, such in-your-face looting and lawlessness by the major commercial players. And not only does it go unpunished, it gets rewarded by the gang of criminal morons running this country for Wall Street's benefit.

Today, we read that ratings agency Standard & Poor lowered the ratings on some 2007-vintage commercial mortgage-backed securities from the top grade of AAA all the way to the lowest grade above junk, BBB-, and then raised it back to Triple-A Highest Investment Grade Absolutely Secure Virtually No-Risk Bonds again.
All in the same week.

I know you realize this, but I have to say it anyway: It's impossible for a bond's investment quality to shift from AAA to BBB- and back to AAA in a single week. It's hard to imagine how it could happen legitimately in a month, or two months.

Well, what happened then? Simple. S&P was under pressure to reduce their rankings on this debt before it went into delinquency and they looked even more complicit than they already do. So they downgraded the bonds to barely above junk--and then "somebody" needed those bonds to become eligible as TALF collateral.
But only Triple-A debt can be offloaded onto the Fed for a Term ABS Lending Facility swap-out.

So S&P simply reversed the downgrade. "Whaddya know, folks? We adjusted our guesses about when the underlying commercial mortgages would blow up, and Hey Presto! Triple-A again!"

Well, praise be unto Allah. And despite this kind of brazen fraud, S&P has not had their charter revoked. So, now those junkers will be added to the mountain of taxpayer liabilities on the Fed's balance sheet. One day, S&P will face a tsunami of lawsuits over their fraudulent ratings model.

http://www.bloomberg.com/apps/news?pid=20601087&sid=az_NZojlf5Ng

At the same time, the biggest crooks among commercial banks are shoveling billions onto their own bonus piles after taking billions in taxpayer aid and hundreds of billions in taxpayer guarantees on their debt.
Goldman Sachs has diverted ALMOST HALF OF GS PROJECTED ANNUAL REVENUE to bonus pools. Goldman employees will average close to $800,000 each in bonuses, including the file clerks and wiretappers.

Morgan Stanley, who just reported a big increase in projected losses, set aside 72% OF REVENUE in the second quarter for bonuses. You can't run a business like that without destroying it, UNLESS you have someone to offload the losses onto.

When nations fall, the barbarian hordes at the helm always loot the treasury on their way out. Think Marcos in the Philippines, the nomenklatura in the Soviet Union, de la Rua and the Kirchners in Argentina, Baby Doc Duvalier in Haiti. They wire the money to Zurich or Paris and race away in a private jet.
The American empire is ending, and Wall Street and their congressional henchmen are stripping the plumbing and wiring out of the walls as they watch the edifice crumble. They don't care what kind of poverty, ruin and misery they leave behind. They're getting out (they hope) before it crashes down.

The mass of American investors are culpable in this, right this moment. Let me explain.

When Bernie Madoff went down, it soon came to light that many, if not most, of the asset managers who placed their clients' money with Madoff knew something was wrong. They were asked, off the record, why they participated in the Madoff funds if they thought he was cheating. "Well, we figured he was doing some kind of insider trading, front-running or whatever. And he never got caught, he just kept returning 12% every year so we figured, Hey, why not get our share?"

The Fed and Treasury have become the new Bernie Madoff. Investors know the country is in trouble. They know unemployment is soaring. They know residential real estate is still falling and foreclosures are still rising and setting new records. They know that lenders and automakers and insurance companies are failing. They know credit card delinquencies are hitting new records. They know that commercial real estate is going over the falls and commercial lending is in deep trouble with the CIT story. They know that the nation's debt is exploding and Obama's fixes are failing and the Fed's countless bailouts haven't done anything except enrich trading banks while burying the taxpayer in unpayable liabilities.

Yet they keep buying the stock markets up. Why is that? I submit that it's because they think that the markets have a secret inside game going on; they think the Fed and the Treasury will keep the markets afloat with free money, crooked accounting tricks, and special rescues carried on in the dark--forever, or at least until they can make a bundle and bring back the Gold-plated Retirement they looked forward to.

Well, good luck with that. This government, with its crooked money and its crooked Treasury and crooked central bank, is a giant Ponzi scheme. The people participating in it don't care that it's crooked, as long as they think they're getting richer by getting something for nothing.
Writer Clive Staples Lewis once noted that evil always carries the seeds of its own destruction. This crooked game is a live grenade, and the pin has already been pulled. It's just a question of who will be holding it when time runs out"