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Buffett's Goldman, GE Warrants Worthless for Now as Shares Drop By Erik Holm
Oct. 8 (Bloomberg) -- Billionaire investor Warren Buffett's instant paper profits on Goldman Sachs Group Inc. and General Electric Co. have been wiped out amid the stock market's worst yearly slump since 1937.


Elaine, you are without a doubt the most prolific writer I know of; it's hard to keep up! I went to post the below and think that thread may be done. Anyways, I am posting a copy here:

Speaking of gold, we don't have to wait for the government to come to their senses in returning to gold based currencies. I say the hell with them.

GoldMoney and others are essentially offering an alternative currency that is available today. They, and others, offer a "payment system" that modernizes gold's oldest, most valuable feature: its use as money. GoldMoney offers "goldgrams" which are direct electronic payments that go to the gold repository of the seller.

It is still a primitive system as there are not that many recipients set up to deal in these gold transactions but the list is growing. I have read that PayPal is accepting some forms of "goldgrams" but I have not explored that yet.

If one chooses to use this alternative currency, you will still need a "catch basin" checking account to handle most transactions but it can be kept relatively low, and a larger "GoldMoney" account may be used to fund it as needed.

I made the decision a couple months ago to dump the dollar, euro, et al. I believe others will do the same and this new alternative currency will evolve to displace much of the need for "national fiat currencies."


Moodys just downgraded the Country of
Iceland (A1). I am sure the other European countries will be in line. Next downgrade
Pluto, Saturn, and Mars. Forget the Earth,
their broke. I am wondering if their is
a connection or doctoral dissertation on
Derivatives, Wars and Death. Its getting
scary out there. Elaine, is Black Friday
next with the 6 Billion due on Thursday?


In defense of those who do not understand history, I must say that their ignorance has been part of an ongoing scheme to "dumb-down" the masses. No where is this more apparent than the hidden history of central banks like the US Federal Reserve system.

If a poll were to be conducted, we would surely discover that the vast majority of citizens everywhere do not understand that central banks are part of a private cartel - not government owned or controlled.

I would bet dollars to donuts that many here have mentioned this to friends and relatives only to be labeled a conspiracy nut or an eccentric.

This is the key in my opinion. The masses must be educated and that is a difficult challenge. Once people understand that the government does not control our money supply, they will immediately begin to realize that the money suppliers control the government.

Maybe I am over simplifying but I think the only acceptable solution is to end the tyrannical reign of the federal reserve system. As long as we have this system in place, we will continue to be enslaved.


I think the only thing to do is organize a general strike. We must stop feeding into this system. We contributed to the building of this thing and what we've also built is our own prison, our own demise. We must stop and we must stop soon.

The general strike will be a stoppage, but it must also be a start-- of taking care of each other again.

We'd immediately need to organize in order to take care of each others' basic needs while we reorganized our financial mechanisms and eliminated these parasites who led us down a deadend alley--to kill us, if necessary.

The parasites aren't going to, under any circumstances, lead us back out of this mess. They aren't capable of that, and I doubt they are motivated to, either. They are going to kill us or subjugate us, whatever it takes, to keep their bloated stake alive.


Unfortunately, IMHO, the only thing that will teach man is the coming global war and depression, which will spare nobody, including the elites.

There's a lot of pain and suffering coming to mankind, unfortunately that's the only way man learns anything.

Man does not respect the sanctity of all life, and nature will be teaching that lesson soon.


Current belief systems are in dire need to be replaced, by systems of belief that are more workable and true to reality.

The current major religions Christianity, Judaism and Islam need to be torn down, and exposed as the blood soaked fairy tales that they truly are.

Man must shed his militant nature, or go extinct.

Nothing short of extreme crisis, and a spiritual revolution can do the job.


Ah hah! They caught a short seller. Hmmm, seems he was pretty small - might not be a keeper, under the limit, need to toss him back :-)

SEC's Short-Seller Witch Hunt Nabs a Munchkin

At 2:51 p.m. yesterday, the Securities and Exchange Commission unleashed a bombshell news release. The headline: ``SEC Charges Beverly Hills Firm and Principal for Illegal Short Selling.''

The big story? Here we are, in the worst financial crisis of almost everybody's lifetimes, and this is what qualifies as news down at the SEC.

Not just a short seller. An illegal short seller. From BEVERLY HILLS! Message: ``Yeah, baby! We got one!''

According to the SEC, he is one Kenneth Rickel, principal of the renowned Lion Gate Capital Inc. And for all his efforts, this Rickel fellow allegedly made profits of $207,291.


You write: "But ONLY after the dark night of depression destroys the current global fiat currency regime. Launching this too early will mean the new ruling currency [we all know which one that will be!] would be swamped by a flood of funny money seeking to be turned into gold. Only after all this red ink produced during the heyday of the floating currency is destroyed, can a new gold standard be launched!"

I believe that once there is a total worldwide financial system breakdown, and currencies other than gold are totally burned out; then the mark, that is the charagma, of Revelation 13:17 will be introduced: "And that no man might buy or sell, save he that had the mark, or the authority of the beast, or the currency of his name."

Reimund from Berlin

@ DrKrbyLuv:

GoldMoney can not finance unions, politicians toys, debt financed social services, and so on. A big part of the state exists only because there is debt. The really unsolvable problem is to get rid of that part.

In the next days I will buy some precious metals in order to rescue my very small savings, because I am unemployed. Today I took the first quarter of my savings and bought a nice Mac Pro 8 core Harpertown. Still licking my fingers. Yummy. :)


JZ said:

"Current belief systems are in dire need to be replaced, by systems of belief that are more workable and true to reality."

"The current major religions Christianity, Judaism and Islam need to be torn down, and exposed as the blood soaked fairy tales that they truly are."

JZ, I am beginning to come to the same conclusion for two reasons. First, I think that by prescribing to a "man made" religion we are essentially handing over some of our own power to develop our own belief system.

The second reason is that organized religions have been dismal failures and are mostly irrelevant. For example, where is the moral leadership regarding constant war and killing, shackling future generations with debt that we accrued and providing the basis for religious wars?

Zionism has polluted many Jewish and Christian citizens who see some higher order in waging war in the middle east.


DrKrbyluv ... I agree. Our present recession is no accident. The Federal Reserve engineered this recession, just as it did the Depression in 1929.

Until we close down the FED and regain control of our money supply, we will have bubbles, busts, and wars unending.

Zi juus foreign central banking system creates money out of thin air to finance wars and blow bubbles. Then, when the bubble bursts, they buy back the pieces for pennies on the dollar.


"The current major religions Christianity, Judaism and Islam need to be torn down, and exposed as the blood soaked fairy tales that they truly are."

Jefferson and Paine (Age of Reason) railed against institutional religions as well. But, the masses will cling to their Gods, saints/martyers, angels, prophets, etc.... since no one else has saved them from the savage aristocracy. The masses will never relinquish their delusional heaven and hell dogmas and the afterlife reward factor. The sociopathic inbred aristocracy turned the masses into cattle and have led them to slaughter since the beginning of man. All that's left for the people to hold onto is the collectives' religious psychosis.

"All national institutions of churches, whether Jewish, Christian or Turkish, appear to me no other than human inventions, set up to terrify and enslave mankind, and monopolize power and profit." Thomas Paine


"The current major religions Christianity, Judaism and Islam need to be torn down, and exposed as the blood soaked fairy tales that they truly are."

I could not agree more with this statement.

This religion from the middle east has destroyed my life in ways I can hardly talk about.

Nothing less than Earth's survival depends on the total removal of this religion from every corner of the planet.

Niels Laughlin

A very frightening video.

Reimund from Berlin

DePaul said:

This religion from the middle east has destroyed my life in ways I can hardly talk about.

I say:

Plase talk about it.


I have spoken before about what my ex-wife and her neo-nazi family of (Quakers/Born Again Christians/Jews) have done to me and my sons. It just brings out a bunch of Jewish hatemongers who attack me and this entire blog, so I no longer talk about it.



Little wonder we're broke.



Not just historic, we've slipped into epic. The gloves come off now:

Britain sues Iceland over frozen savings

In Reykjavik, Prime Minister Geir Haarde issued a statement saying that the Icelandic and British governments were trying to find a "mutually satisfactory solution."

But the British Treasury said it had taken legal action "to ensure the stability of the UK financial system," adding: "Savers' money is safe and secure."

"We are pursuing Iceland and we will pursue it vigorously to make sure that we get the money due to us back," Chancellor Alistair Darling told GMTV television.


Watch out, more liquidity, more than you ever wanted:

Trichet Can't Rule Out More Cuts, Offers Cash Flood

European Central Bank President Jean-Claude Trichet said he can't rule out further interest-rate cuts after joining a round of global reductions today and offering to flood the banking system with as much cash as it needs.

Crap, when are they going to start acting like responsible bankers? Someone likened this to quicksand. The last thing you do is flail around. Instead they are crazily pulling levers, shooting hot air into the baloon while vents are releasing air and sandbags are falling to the ground.


I have been following your objective and insightful financial and geological commentary for a while. Have you noticed the little rallies throughout the day that are designed to infuse confidence in the market, only to quickly collapse? These are artificial government attempts to raise interest among potential investors ("there must be some value out there, for the bulls are still fighting the bears"). However, these are actually staged by the CIA, which has an undisclosed secret budget - that is, no budget and unlimited ability to fabricate commercial assets. These CIA dummy entities are buying stocks in desperate attempts to provoke rallies. The purchased stocks are worthless, of course, but the CIA does not care about profit or loss. This is another facet of the US arsenal being used by regime plutocrats to further deceive people into thinking there is still a functional financial system.


More on Iceland:

Chancellor of the Exchequer Alastair Darling told the British Broadcasting Corporation that the government will guarantee all customer deposits at Icesave.

``The Icelandic government, believe it or not, have told me yesterday they have no intention of honoring their obligations here,'' Darling told the BBC.

Reimund from Berlin

Oh, a neo-nazi family? They must have burnt your house, stolen your belongings and sent you to a concentration camp where you suffered from hunger and 20 hour slave work. Or so. Maybe not.


Reimund, I think the key word being discussed is "neo" (Greek,meaning new, recent, young). My guess is Devaul's pain is real and his reference is not literal but descriptive.

Elaine Meinel Supkis

I have found that the more religious family members are, the nastier they are. Those that believe that Jesus loves them are the nastiest of the whole lot. I am absolutely certain that Jesus will recoil in horror from these sorts of people.

Well, if he is anything like he is in the Bible. Heh. He hung out with prostitutes, etc. My kind of guy....

Made wine out of water! Hey! Party, dude!

About Iceland: it is small. The US is big. So the US gives in and does whatever while little Iceland will fight like hell to slip away. England is used to the US bankrolling everything.

Japan; OFF THE CLIFF. The Chinese won't let Japan pull the one-way trade crap so with trade collapsing with the US, it is OFF THE CLIFF. Maybe they will get a real depression out of this mess.


Now its getting disgusting:
1) 85 Billion for AIG--at 12% loan rate
2) Party with Condoms in CA.
3) Awarded another 37 billion this afternoon...
4) What Bottom and Hell Hole???????????????????

Elaine Meinel Supkis

This pit has no bottom.


I just did a "story" about Naomi Wolf's warning about the return of troops to the US (to Georgia, if I have it right) from Iraq, who will remain under federal patrol and be tasked with "riot control" here. She claims this is the last stage of a coup.

I actually wrote little of it, and most of it is "borrowed," and I just added links so people could see related videos, etc. Anyway, someone decided to front-page it at Wild Wild Left. I didn't expect that.


OK all you F***ING geniuses who think the solution is no religion.

Remember how many people were killed by Stalin and Mao trying to stamp out religion.

Humans have a spiritual need that is unstoppable. They will worship something: God, Satan, Money, Material Possessions or Man.

The state, which worships Man and Money, is BY FAR the greatest exterminator of human life.

The US was founded on the principal of religious freedom, not freedom from religion. Freedom from religion is the 'freedom' to worship man or money.

The only goal of government should be to protect the precious spiritual freedom each family and person have to live life according to their internal conscience.

People ruling themselves, rather than man ruling people.

Only when we scare them all into handing over half their labor in taxes and build trillions of dollars of weapons and give the go-ahead to Satan-worshiping leaders to go killing people all over the world do we get real evil.

Now if the government gets into the religion business and forms a Theocracy like in Iran or Israel, that can be almost as bad.

Always remember that the people who worship money want to destroy the ability of people to rule themselves so they become soul-less people who only care about work, money and pleasure.

You have been duped by Hegel into worshiping man. HAHAHA!


Initially, the notion of "Western Civilization" was created to foster a sense of identity among the Allied Powers, as members of a single civilization, pitted against the East, in the case of World War I, Germany. However, the development of this idea can be dated back to the early nineteenth century, with Hegel. As demonstrated by Glenn Magee, in Hegel and the Hermetic tradition, Hegel's ideas were based on the occult. Borrowing from the Jewish Kabbalah, he developed the idea of history as progress of God coming to know himself through the intellectual evolution of man. In Hegel's terms, this mean man's evolution towards what he called "freedom". This "freedom" was when man discovered that he is God.


I haven't heard a single religious leader speak up during the build up to this mess, nor do I now hear any religious leaders speaking up.

The religious rarely speak out against the war or any of the rest. Quite the contrary. They have consistently acted as if the war is "God's will." (In fact, that's a direct quote of someone who is religious and will perhaps be a heartbeat away from becoming President.) They cozy up to the rich and make it possible for the rich to feel good about themselves.

They placate the poor people and help them resolve to be more conscientious pawns. So they can serve faithfully and obediently the rich asses the religious leaders kiss so willingly.

The churches are allies of the state, so I am not in the slightest relieved to learn the state is the greater of exterminators, even if the church has only a subsidiary,facilitating role.

If there was some slight trace of anything which resembled the teachings of Jesus in what these institutions practice, I would shut up and keep my peace. It isn't that way, and it very seldom ever has been that way.

It doesn't appear the innate religious drive of which you speak is anything more than a sickness. We shall judge a tree by the fruit it bears. This tree bears sick fruit. It's a sick tree and I don't want to sit underneath it, for I do not want another decayed bow to fall onto my head.

It's too late now for these guys to "reform" themselves, at least to my satisfaction. And then I see they're off boffing the altar boys.


Exploration of spirituality or self is not the problem but rather subjugation to other’s definitions or purposes, what ever they may be. Consciousness is still hopefully on an upward trend as slow, elusive, retrograde and repugnant as the journey can be.


True religion knows no bondage. Even so religion is not the problem. Its the debasement of the currency! It ends marriages and causes depression ( no pun intended )

To blues: If rioting is a concern that means there are going to be shortages, stock up now! Ive had a bad feeling too, civil war in the form of riots? I think the country might break apart if this keeps up. Naomi was onto something about the police state. This is gonna get nasty. Patience and Perserverance are need here.

CEO Nutcracker

"Then 'trade barriers' like the ones so beloved of Japan, will suddenly appear across the planet. China loved 'free trade' so long as it industrialized China. They will NOT deindustrialize for us just so we can continue to rule the planet."

Elaine, this may be the only solution to the current economic disaster created by the elitist's. These frenetic 'hat-tricks' to maintain the credit-inflation-free-trade fiasco are schizophrenic. Every move is another shot in the foot!

Fer crissake's, stop the insanity!

All nations will be forced to return to industry and trade barriers. Millions of jobs off-shored, that created all these tin-plated elitist pimps, will come home like a tsunami.

The only way to end this is to get rid of income tax, hence, the FED and all Central Bankster's the world round. It is clear now why the midnight vote to form the EU was rammed down their throats. All of Europe's wealth was commandeered under this farce, as in the US with the illegal formation of the FED Reserve in 1913.

It is time China or Russia dump their US reserves, demand a gold-backed system, and not least of all, end this Zionist-Illuminist nightmare.


The comment was obviously in the context being discussed but I'd include in subjugation, money as debt, and elite bankers privileged to impose debt on all from nothing.


Here is a simple system that would remove the crushing restriction of gold and remove the criminal creation of money by private banks.

First, the Congress, as defined by the constitution, could create 10 trillion in Constitutional Money.

They could use that to retire all government debt and build critical infrastructure like railroads and renewable power sources.

Now, let's say they wanted to expand the money supply. The can create another $300 billion constitutional dollars and GIVE THIS $1000 DIRECTLY to each CITIZEN in the US TREASURY ACCOUNT paying 0% interest.


Now if banks would like to have some money to invest, they could offer 5% interest and people could move their money from their US TREASURY ACCOUNT to the commercial bank account.

The banks would then loan that money out for 9% and keep the 4% profit.

Banks that were good at investing would get more money and those that were bad would fail as they should.

If government wanted to increase spending on say, a new missile system for $30 billion, they could create a bill (aptly named) in Congress to fund this project and clearly defined that it would impose a tax of $100 per person. People would be able to contact their representative and voice their opinion on this spending.

If it did not pass, tough luck Lockheed Martin. If it did pass, everyone would see $100 taken off their US TREASURY account.

This would truly be the FREE MARKET where money is created and controlled by each individual instead of a FEW CRIMINALS running INTERNATIONAL CARTELS for oil, food, drugs and weapons.

I fully expect to be EXECUTED for this recommendation but I do not care.

JFK must be vindicated.


Whew! Where to begin? Having stumbled upon this blog recently, I've been taken by EMS's unique style of writing, fresh perspective, original analogies, and overall grasp of the Big Picture, as well as her technical and historical expertise in matters related to economics. Plus I appreciate the level of thought that goes into the comments. I was trained in the liberal arts, but have always been interested in economics. I studied Von Mises, Hayek, Marx, and others just to get a basic understanding of economic principles. I have never been that interested in statistics or the more technical aspects of economics, but am beginning to grasp some of it now. Lately world events have brought money, finance, and economics to the forefront. How is the vast sum of information available to us today tied together? Politics, conspiracies, wars, global international banking, zionism, illuminism, religion, peak oil, population growth, environmental issues, etc., all create a labyrinth which poses monumental hurdles to our understanding of the world. Public education and the Mainstream Media are less than worthless. They are evil institutions bent on propagating ignorance. Thank God for the internet and bloggers like EMS who at least help sort out the valuable from the worthless. Being an open-minded person, I'm beginning to feel that enlightened self interest is the next best thing to spiritual enlightenment when it comes to our chances of saving the country. Personally, I'm one of those born again believers who feels our only true hope is Divine Intervention. Nonetheless, I also believe this intervention can come in many forms, not the least of which is an educated populace desirous of throwing off the chains of elitist servitude. I don't believe America is quite ready for the New World Order. As Don Lucchesi said in the Godfather "Finance is a gun. Politics is knowing when to pull the trigger." I think the Banksters have pulled the trigger a little too soon.


It's pure fantasy to think any demands or suggestions we make will be heeded. What's happening is happening according to a plan. The the most powerful group of elites are consolidating their power, with not the slightest regard for anyone else or care for what we might think is best. We've been taking their crap for so long, and it looks as if we're willing to take their crap now. Except now, taking their crap is going to mean something a lot more painful than we've ever experienced in the past. Ever. Even in the good old days of the previous "Great Depression." Our power to resist this dwindles by the moment. Imagine how silly it is to think our rulers are going to change course of their own free will. It's just not in the cards. If we think it is, we're nuts. Are we nuts?

Elaine Meinel Supkis

Zulu, one of my favorite movies is 'The Godfather.' Joe Bonanno's ranch was nearest to my father's ranch. I knew them.

Here is the Arizona Star's obituary of him:

Joseph Bonanno Sr., the former boss of one of New York City's five original Mafia families and a longtime Tucson resident, died Saturday morning.
The 97-year-old native of Sicily, who led the Brooklyn-based Bonanno Family for more than three decades before he lost power in the 1960s, died of natural causes at St. Mary's Hospital.
"He was the last survivor of an era that made history in this country, and now he's gone, too," said his son, Salvatore "Bill" Bonanno.

The elder Bonanno took control of the former Maranzano Family in 1931 and helped form a commission that ruled the Sicilian underworld.
He first came to Tucson in the early 1940s to enroll his oldest son, Bill, in a boarding school. The elder Bonanno had maintained a home here since the 1950s. He lived in Tucson full time at least since his 1960s departure from New York's deadly Mafia scene - a turbulent environment he called "the Volcano."

Elaine Meinel Supkis

When he bought his ranch in 1964 near our ranch, one of his guards came over to tell me, Bonanno's wife's poodle was missing. I said, 'Oh, that is why the coyotes were so noisy! They ate her.'

Joe came over and asked me many questions about the wildlife and their ways so he could protect his pets. He also built this huge wall around his place to hide everything and to keep out the coyotes.

This is how I got to know them. Cathy, his daughter, rode horses with my friends in the desert, by the way. She was a very nice person.

Neon Vincent

You talk a lot about economic cycles. What do you know about the Kondratieff cycle?

Elaine Meinel Supkis

Kondratieff cycles are extremely good gages for looking at anything humans create. I wrote a long article about this. I showed how fashions are hitched to the same cycles, just for example. Hats, shoes, dress shapes, ties: you name it, these follow the same growth and death cycles as money. Empires definitely have these cycles down pat.

It seems that the COLLECTIVE human psyche has this very deep set feature that causes us to move, as a mob, in entirely predictable ways. Some of these effects are called 'fads' but are really just Kondratieff cycles expressing itself in a silly way.

This is true in every aspect. For example, jokes follow this curve of development, too. Or sayings like, 'Where's the beef?' and 'speak to truth' [I hate that one a lot]. Etc.

Kondratieff certainly stumbled upon and then carefully turned into mathematical probabilities a tremendous force of human psychological nature and is up there with Newton and Einstein.


"OK all you F***ING geniuses who think the solution is no religion."

No one ever said this. You mistake the religion of the Jews for the only religion there is. This is also part of their belief: there is no other religion but theirs.

The world cannot afford that.


I've watched the Godfather series so many times I've lost count. I've always enjoyed mob movies. I think it's because, in a way, I admire their portrayed sense of honor and justice, which contrasts so sharply with the hypocrisy evident in our own political and legal systems. As Michael said, "We're both part of the same hypocrisy, Senator." At least with Don Corleone you knew where you stood. I never heard of Bonanno, but I just happen to live in the Arizona desert myself, somewhere south of Tucson. I haven't run into any wise guys here, but I did see a few in Las Vegas at my wedding reception, which was held in an Italian restaurant. They were very nicely groomed and received a lot of attention and respect from the waiter staff. I bet Bonanno was a nicer guy that Paulson and the Sphinx put together. And I must say, you've lived what sounds like quite a colorful and interesting life.


*"than Paulson and the Sphinx"

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