Tuesday, November 1, 2011

Morning Update/ Market Thread 11/1/11 - One Edition…

Good Morning,

My, that’s a lot of ones, and the eleventh will be here soon! The markets are choking on European debt today as the Greeks put the “bailout” and its austerity to a sudden vote – of course anyone would be out of their minds to vote for IMF enslavement, and thus we can expect it to go nowhere, not that it was anything but a circular joke and Ponzi scheme to begin with. I think I can see Bernie blushing from here. Stocks are tanking, the dollar is shooting the waxing crescent, bonds are zooming, oil is finally back below the $90 mark, gold & silver are retreating, and food commodities are just a little more palatable.

The silly and planet ravaging FOMC meeting begins today, the Bernanke will spew forth tomorrow as the world’s narcissists (1%) hang on his worthless utterances, waiting to see how their HFTs will react to all the other HFTs. Meanwhile the wannabes will watch their money get stolen from them, and the 99% who are far away from the production of money will lose, and lose, and lose… that is until they force a change that gets rid of the phony “Fed” and allows our nation to produce debt-free sovereign money. And no thank you, we don’t want to repeat the other mistake of history, gold as or behind our money.

The Manufacturing ISM and Construction Spending will be released at 10:00 Eastern this morning and will be reported inside of today’s Daily Thread.

Yesterday a judge in Tennessee ordered the police to stop arresting Occupy protesters. Good for her, at least there is one honorable person still sitting on the bench.
"Political expression deserves the highest level of protection and it was unacceptable for the state to suddenly shut down protesters' speech and forcibly oust them from Legislative Plaza that has long been used as a place for peaceful expression," said Hedy Weinberg, executive director at the ACLU of Tennessee.

I certainly call on all other authorities, police, judges, mayors, everyone, to do likewise. Good for you, U.S. District Judge Aleta Trauger, sometimes all it takes is one!

Time to turn to the one that I would immediately appoint as special prosecutor to rout out the systemic financial Fraud, Bill Black. Here he is meeting up with the Occupy movement talking about the Savings & Loan crisis. Pay attention to the numbers, here he says that the fraud is more than 70 times the size. I would say that the scope of the fraud is even larger than that. And while Mr. Black certainly understands the fraud, he falls short of getting on the true roots of the problem – it’s not just the regulators, the root stems from giving private individuals the right to control the production of money... for it is those who produce the money from nothing that use it to capture the regulators:

Now here’s Bill Black again explaining the corporate shell game that Bank of America is playing. I’ve been talking about this for years now, it’s not just BAC, it’s all the big banks, the mortgage insurers, and many more. Again, our government has turned their backs on the shell game, it is a crime, it’s completely illegal:

Freedom Vision's number one...
1. Restore and maintain the proper rule of law by prosecuting systemic financial fraud. Create checks and balances to keep it from happening again.

You know that I harp on how we measure our “productivity” in dollars, not in real things, and that leads us to measure the production of money and debt, not the production of anything real. Well, yesterday I ran across a wonderful quote on productivity by Robert F. Kennedy that I want to share. When was the last time you heard a politician talk like that? This quote deserves reflection, I think I’ll include it whenever the “Fed” releases their phony GDP numbers:
“Too much and too long, we seem to have surrendered community excellence and community values in the mere accumulation of material things. Our gross national product...if we should judge the United States of America by that - counts air pollution and cigarette advertising, and ambulances to clear our highways of carnage. It counts special locks for our doors and the jails for those who break them. It counts the destruction of our redwoods and the loss of our natural wonder in chaotic sprawl. It counts napalm and the cost of a nuclear warhead, and armored cars for police who fight riots in our streets. It counts Whitman's rifle and Speck's knife, and the television programs which glorify violence in order to sell toys to our children.

Yet the gross national product does not allow for the health of our children, the quality of their education, or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages; the intelligence of our public debate or the integrity of our public officials. It measures neither our wit nor our courage; neither our wisdom nor our learning; neither our compassion nor our devotion to our country; it measures everything, in short, except that which makes life worthwhile. And it tells us everything about America except why we are proud that we are Americans.”
― Robert F. Kennedy