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Re: Bush and Greenspan conspiring...

After Bush became president, Greenspan suddenly started to go to the White House a lot, three times more frequently than he did during Clinton's time. This continued for nearly a year I think it was. Then Bush went to Japan for a state visit. I always wondered back then what they were cooking up together.

Elaine Meinel Supkis

Yes. Cooked the goose. :)


Hi Elaine,
Did you ever run into Felix Rohatyn and the Big MAC when they were looting NYC in the 1970s?

Looks like he/Bloomberg and possible Obama are looking to lead a corporate take over of public infrastructure after they pull the plug on the US derivative Tower of Babel.


http://snipurl.com/209nq [www_larouchepub_com]

Jackson's reference to the restructuring of New York by Felix Rohatyn recalled Rohatyn's 1970s chairmanship of the Metropolitan Assistance Corporation ("Big MAC"), which looted New York City blind, on behalf of private bond holders; shut down schools, hospitals, mass transit, and municipal services; and drove almost the entire blue-collar manufacturing sector out of the city. This is precisely the Schachtian model that Rohatyn and Shultz, through their front-men Bloomberg and Schwarzenegger, are promoting today.

Not coincidentally, the same Lou Dobbs show where Jackson embraced Rohatyn, featured an interview with Bloomberg booster Doug Schoen, and highlighted the very Los Angeles press conference where Bloomberg, Schwarzenegger, and Rendell launched their so-called rebuilding America fascist swindle, in league with the Rockefeller Foundation.


Eager to apply and verify what E has been reporting on, i.e., mainly that all banks now have liabilities that are greater than their assets and no, or dangerously low reserve funds; that banks are teetering on the edge of going broke; and being concerned about my own cash-in-the-bank liquidity, I have been on a personal quest at my regional/local bank the last several weeks to find and read their published Statement of Condition report.

Our regional/local bank was purchased by Spain's big bank, BBVA several years ago. These condition reports until recently, were always published in the local newspapers where all the banks in the community proudly displayed and bragged about their phenominal asset growth during the past banking year.

Sadly, this once annual pissing contest is no longer played out. After numerous phone calls up and down the bank's organization chart, I am unable to find any bank official who can show me or tell me where to find this bank Statement of Condition, or when they expect it to be published. This bank has about one thousand employees and they all seem to be in the dark.

I am beginning to feel that money in the mattress is safer than cash in the bank where it may disappear in a blink of an eye. I am planning to begin withdrawing my funds because of this lack of confidence by the bank in their own financial health. I am beginning to feel anxcious and threatened.

My bank, rather than recycle savings as investment back into the community, is no doubt looking at savings as a way to cover their losses and prop up their liabilies. I do not want to be a hapless victum of their incompetence.

Elaine Meinel Supkis

The Northern Rock mess certainly has unsettled everyone. And the fear of losing savings or investments is great. The general nastiness of any bubble/panic/depression is when everyone takes their money home or translates it into gold or things to be hoarded and commerce shuts down.

Fixing this is easy if one wants higher interest rates. But all governments..look at Japan!...opt for the super-low interest rates that prevent people from saving money in a bank. Then the banks can't lend, etc. The Bank of Japan has been running the endless open window, not the banks where Japanese park their money.

This is bad in a very many number of ways.

Elaine Meinel Supkis

About Big MAC: I was very involved in politics back then in NYC. I used to go leafletting on the subways after work, talking about 'deferred maintenance'. 'This is the ONLY program in the government that is running ahead of schedule,' I would say. 'Everything is breaking down faster than expected!'

One day I had to literally jog most of the way to 43rd and Park because all the subways were broken down and the city was paralyzed. I worked for Mannesman Demag, a huge German corporation.

I was shocked to see that I was one of only two people to make it to work. The phone rang. It was the president of the company calling from Germany and he was very angry.

'Where is everyone?' he yelled.

I said, 'The trains aren't running.'

He said, 'What is this, Italy???'

I said, 'No, deferred maintenance.'

He laughed. 'Maybe we should take over and make the trains run on time.' I got a small bonus for running to work, by the way. But this was rapidly destroying NYC's commerce. Since the brokers, bankers, etc, Wall Street floor workers, everyone uses either mass transit or want others to use it so the streets aren't clogged, this motivated everyone to start pushing for changes in deferred maintenance schedules. I also was involved in getting the street lights back. They didn't fix any lights! So one day, I called Channel 2 and told them I was going to use my extension ladder to climb up to lights and fix them myself. Mayor Beame ran out to the first light I was fixing and begged me to stop.

He wanted to arrest me but the cops were on my side and made themselves scarce. So he gave in and did as I requested. What a mess those years were! What a shame.

D. F. Facti

Felix Rohatyn and Lazard Freres. Institutional Investor magazine was very high on Felix back in the late '70's. So you know he's got to be a robber baron. Bloomberg and Felix and the rest had better hurry up if they want to take over the infrastructure. Many corporate pirates are beating them to it!


According to the data in the report, we only need to dilute the dollar by a factor of 3 or so to save the banks?

We need like FFR of about 0.5%, right?

JPM, Citi, and BAC should all trade under their book values. They won't if the Fed has its way...


NOW do we know why Bernanke was chosen? He'd play ball with the FFR cuts!!! What a stooge!


"This chart shows that equity went underwater by $83 billion."
No it doesn't, the left hand scale is in millions so underwater by $83 million.
"Now look at credit! $2.5 trillion in the hole!"
same as above, you are off by a factor of 1000


Ms Supkis: There you go again, speaking ill of the gold investors, who have had the good judgement to invest wisely by purchasing a hard asset to protect their wealth, seeing the ongoing debasement of the US dollar.

You say: "Obviously, the heders are now using the cheap loans, to put into a gold bubble". You assume there is significant and ongoing putting, as well as a gold bubble; this may not be the case as Alf Field writing in Kitco.com, contents that gold in the near future will go to $1600 and beyond.


I have heard so many "contentions" about how high gold will go that your new projection looks somewhat silly, Richard.

Gold is just another commodity, something you find on the ground, in a stream, or deep in a cave. The word "Money" is a fictitious mental construct devised by humans. It has nothing to do with the real world.

Gold will be used and manipulated by the same ruling elites who control all other systems to their own profit and to the demise of everyone else. History has shown this over and over again, but gold bugs simply cover their ears, eyes, and mouths and refuse to understand it.

The human desire to find some kind of magical force field that will surround them and protect them from all danger is very strong and very ancient.

Unless you personally control the price of ALL gold AND its location, it will not protect you. I doubt you control the price or even the location of all gold, Richard.

I suggest you look for a different suit of armour. Really.

Billionaires have no intention of allowing everyone to become like them. They will do whatever is necessary to stop that.


For gold investors and yen carry trade:

'The stock markets have "yellow fever" again as the cartel is completely baffled about what to do about the yen and the carry trade. If they weaken the yen to support the stock market, gold goes ballistic. And if they strengthen the yen to put a yen-hit on gold, the stock markets explode and go down in flames. Thus the yen weapon has been neutralized.'


'A Toothless Cartel Gums at Gold'

More horns of dilemma!! Damn if u do and damn if u don't!!

Elaine Supkis

I'm sorry about the mistakes here. I realized last night, I was very sick with the flu. Still am. Now, I am sneezing every few minutes and this is really nasty stuff.

Looking at numbers with runny eyes isn't recommended. Luckily, most of the next story was researched before I got totally feverish. So I hope this clears up some things. It is all about gold/silver ratios. We have so much to learn about that topic. It goes to the heart of the matter here. And it is really dusty, old stuff, too.

About the horns of dilemma here: we are surrounded by these horns, they have been slowly surrounding us since WWI.

Elaine Supkis

JCK: I fixed the mistakes. Thanks for noticing it.

Dear readers: I do like to fix mistakes if possible. So feel free to tell me loudly where they are.


My Personal Cold/flu Fix (at the first sign of unease)

Strategy: -boost the immune system.
-unload the bodily tasks.
-alkalinize the overly acidic body chemistry.
-kill the bugs directly.

Tactics: (relative to the above order)
-take echinacea extract, beta 1 3 glucans. Bundle up enough to sweat profusely, but don't chill.
-stop eating solid food. Take lots of fresh fruit juices. Use a good herbal laxative to clean out.
-make fresh vegetable juice with apples, carrots, beets, celery, parsley and a whole lemon. The lemon is mandatory(its acid,I know, but the liver needs it to function better). Make at least a quart per day.
-put the universal germicide/viricide/fungicide known as garlic into the vegetable juice above. Use the juice from at least a half a bulb of garlic. Chase with water if a little too sharp. Take 4 or 6 olive leaf extract tablets per day.

This protocol will knock out the symptoms overnight or, at the most, in a day or two. Regular cold/flu pharmaceuticals only cover the symptoms, but leave the underlying cause in place.


That pre-calculus class, back in the Dark Ages, taught me to pay attention to sequences of numbers (as did the 4+ semesters of music theory). So I noticed the average time between banking collapses is about 20 years. Starting with 1848-1873, 25 years between collapses, then 1873-1892 (19), 1892-1907 (15), 1907-1930 (23).

Following the same sequence, collapses/troubles should have occurred-give or take several years- around 1950 (?), 1970 (ugh, "Whip Inflation Now"), 1990 (Bush I), and... ta-da 2010! (or, broadly, sometime between 2008 to 2012) Hmmmm.

To stay sane while digesting the news, am listening this evening to William Lawes: The Royall Consort Suites. Ah, the soothing sounds of early 17th century violin consort music.

Elaine Meinel Supkis

The continuity of culture! While I write, I listen to music. While writing this, I was watching Darcy dance ballet to Mahler's 'Das Lied von der Erde.' A moving, sad piece by McMillan.


Elaine, This post is the ultimate guide to derivative exposure. Consider printing up some black and yellow covers and re-title to "Derivatives for Dummies". Leave a big stack at the corner of Wall & Broadway next to the free box for the "Learning Annex".

Elaine Meinel Supkis

Along with some apples, eh?


You never know what might throw this fiasco down the basement stairs. Robert Prechter has said for years that changes in societal mood preceeds their actions and finally the real tipping point in market behavior. Show up 4 PM with the apples, tin cups, some pencils and the cast from Oliver Twist. Guaranteed to send the floor brokers running horrified for the R train.

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