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Poof Update: August 12, 2007
Greetings and Salutations,
Sorry but I just had to pull this oldie but goodie, out of the archives. In view of the offerings flying across this desk, during the week, it pretty much encapulates my answer in a nutshell. Now, the europeans are telling someone it's ok to access in the us and avoid us civil forfeiture laws, forget junior's exec orders, as they put banks over here that'll act like foreign embassies. What are we suppose to do, take up a room on their property for protection...hey maybe they'll put up malls too...then that way we'll never have to chance getting into population and getting snagged by paulson's rangers.
Folks if they announced a new treasury tomorrow, there is nothing implied in the verbage, that says it means a return to consitutional law, in the classic sense. This gov's banks must comply with the basle 2 accords and therefore be ready to link into the new global banking system, as that's how business is going to get done on this planet from that moment on. This is not an invitation to a big bloc party, junior ain't going nowhere...and he's not going to be in a good mood after this either. The europeans are doing their part but americans have to do their own housecleaning, and they aren't going even start until enough recognize what they've been standing in.
http://www.silverbearcafe.com/private/headoff.html
http://www.silverbearcafe.com/private/commentary.html
http://www.silverbearcafe.com/private/unfolding.html
We did have a small problem last week on the way to the forum, not what you've been told but a problem nonetheless. Considering the embarrassing nature of the problem, it's no wonder certain folks just kept repeating themselves. No one wanted to admit being distracted during the financial chaos that cranked up in germany last week, when the fallout began, and allow this thing to happen. I do understand how desperation can cloud the senses sometimes and lead to ill conceived ideas, but legalities remain. If I seem a bit obtuse on the subject it is with purpose. Since I see that none of the reality is floating out here on the web, it won't be me that spills the beans. Suffice it to say, the problem was cleared by weds, and the finish of this reengaged.
This is the time I've always pointed at, the place where things could not continue status quo any longer and the ultimate change had to be put in place. The first explosions started the week before this last one with german banks catching the first hits from the sub prime problem, then the biggest french bank, bnParibas, kicks off the next round, which went rolling around the world. Meanwhile China, Russia, and India...nothing, not a problem.
We're about to do that 'shifting of the wealth of the world' thing, in real time. Your packy hits your door, the imf funds are released, shortly thereafter, the new global banking system engages, then the world is off to the races. Who'll be left standing by dec/jan1? That's a good question, it depends on where these big banks have their liabilities, thus my advice to stay away from them and only deal with the 'home grown family banks' of the various countries. The hedges and the derivitive games are going to kill them or inflict mortal wounds. As the song says, 'ya gotta know when to fold them' and it's pretty obvious the kool aid was way too good to get up from the table in a timely fashion.
I'm seeing a rather feverish pace set up so the bumpers can go into position, around the world. Nothing like self interest to bring speed and focus to a project. The world needs liquidity but not further credit and there's only one place that liquidity is going to come from, and that is the dumping of the stored funds. Bob can't print enough to make this go away, matter of fact, more printing just further makes a bigger mess, as the dollars lose more value.
Have you checked what a half gallon of OJ costs today? That's what printing more does to your money supply, prices keep rising and it takes more of the things to exist each day. So let's hand out some more tax breaks to folks that don't need it, yea, that'll fix it, afterall they've done such a bang up job so far, here in Richistan. Somebody just forgot to 'trickle down'.
I'm keeping an eye out and listening to the forecast. My suggestion is to make sure you all have your rain slickers near and ready to put on, all this heat is just begging for a downpour. To those who've asked, the little girl is doing fine, 12 going on 26, coming out of grade school going into middle school, in other words, she ain't little anymore! lololol I'm thinking she's going to be an attorney or a politician for all the 'negotiations' she always instigating around here.
I am still doing consultations, just let me know by emailing this address. Donations are always needed and appreciated, thank you for the assistence. www.paypal.com account 2goforth@safe-mail.net
Keep your eye on the flame and ignore the goblins along the road, seeking to distract you from your appointment with your future.
Love and Kisses, Poofness