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CASPER UPDATE #1 - MAY 29, 2009

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When attempting to help with the confusion surrounding the programs in Wednesday's update I somehow managed to forget to clarify the main body of programs which were/are the 112 programs formerly known as "the Fed Res Programs".
These include the dozens of miscellaneous programs dating to 20 and more years prior to "O". They were referred to as F.R. Programs as they were expected to be paid with F.R. money. Over the years some of the programs were "consolidated", time passed and there was further consolidation which likely accounts for the postings referring to 78 or 79 programs instead of 112. These ARE from "the same pot".
Big fights arose in recent years as to whether these programs would be paid at all. WE chose not to report that at the time as it would have been devastating news to those in those programs plus the fact it was not a settled issue. Time passed and WE got word they would pay afterall so there was no sense mentioning the fights. This was likely just attempts by the bad guys to raid still another "pot" as they were doing (still are) with the other pots. There were three additional failed attempts on our accounts yesterday.
Eventually all these programs were moved under the "IMF Umbrella" with distribution responsibility for them, WE heard, falling to "C.T.". WE expect all of them to pay simultaneous with the IMF offshore programs funding which will immediately follow the domestics such as "O", and F.C. and Freedom.
Sorry for this rather large oversight.
Wasn't it STORY, or was it HENNIGAN, who said earlier this week BUSH and CLINTON are pulling the strings in North Korea to stir up trouble? Then they (N.K.) withdraw from the 60 year old Armistice (cease fire) and suddenly B-52's, B-2's, Patriot Missiles, etc etc are on the move (see Fourwinds). Funding must be imminent as these things seem to occur at that exact moment over and over again.
How about a purely speculative "rose colored glasses" wild possibility? The FED is mopping up the Banks toxic assets using the Feds Balance Sheet and then in partnership with "private partners" has already announced that dispersal of these "assets" to hedgefunds, etc, will be financed to the tune of 92.5%++using public debt/liability to do so. What if? What if prior to that actually happening the FED is Bankrupted? The commercial banks balance sheets would have been cleared, not at public expense after all, and the FED and its private owners take the hit for trillions enroute to the dust bin of history? The FED and its debt instruments (FRN's) could not survive in competition with a metals backed banking/monetary system so maybe it's not unreasonable they might be forced to eat their own sewage as they depart. Would this not fit the "dollar destruction" discussed at Bldburger in Greece last week? What if?
Now you know I can't do an update without ragging on OBAMA don't you? Today's example of who and what he is his request that Congress provide legislation giving Treasury the power to dictate salaries in the private sector, even in companies not accepting Government funding. Is it Communism or Fascism? You decide.
WE hear lots of good news this morning so be especially alert.
                   casper   5-29-09   #1