Original Sixteen to One Mine, Inc. - Forum Topic: "Miscellaneous"



	July 14, 2020 Tuesday

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Topic:
Miscellaneous

By bluejay
11/07/2011 9:49PM

Chances seem to be moving towards another big US bank fiasco with their growing involvement in selling billions more worth of CDS insurance contracts thinking the Greek tradegy is fixable. Remedying weekly Eureopean debt problems with more extended debt to its weakest countries only works in their dreams.

The following appeared Saturday in Bob Chapman's International Forecaster:

While Europe tries to sort out its problems US banks have bet heavily on a solution. The money center banks have increased sales of insurance against credit losses to holders of Greek, Irish, Portugal, Spanish and Italian debt in the event of default. These are figures from the BIS, the Bank for International Settlements. The numbers leaped from $80.7 billion to $518 billion almost all of which are CDS, credit default swaps. New York banks, which in great part own the Federal Reserve, obviously are going for broke. That means in the last three months they added $350 billion in exposure. All we can say is that they must have a death wish.

As events change from moment to moment regarding Europe’s problems, predictions are difficult due to the machinations and irrationality of the elitists and the governments they control. How conceivably can governments’ bent on world government and the bankers who control them come up with solutions for the Greek euro and other EU problems? They cannot, of course, because they have an ax to grind. These are the same incompetents that created unregulated derivates, CDO’s, CDS, ABS and MBS, plus were the driving forces behind QE 1 and 2 and stimulus 1 and 2, all of which did not work.

By bluejay
11/05/2011 1:41PM

Greek Prime Minister George Papandreou barely survived a confidence vote with a slim margin of 153-145. This pretty much guarantees needed funds for Greece in continuing to make interest payments on its growing debt burden. Their potential financial powder-keg explosion just got moved back in time some with the pushing back of some burning brush, that's all.

It seems bankers who have sold CDS's insuring against debt failures just got a big reprive until the expected general election in February.
The problem with CDS's is that experts believe the banks who wrote the CDS's, for buyers insuring their long positions on the Greek debt, won't be able to pay-up if the country defaults thus causing a major world financial crisis in addition to the expected damage to the Euro that would result.

A credit default swap (CDS) is similar to a traditional insurance policy, in as much as it obliges the seller of the CDS to compensate the buyer in the event of loan default. Generally, the agreement is that in the event of default the buyer of the CDS receives money (usually the face value of the loan), and the seller of the CDS receives the defaulted loan (and with it the right to recover the loan at some later time).(Wikipedia)

By Rick
11/02/2011 4:29PM

The repeal by the Clinton Administration of the Glass-Steagal Act is the genesis, along with the JReno Justice Deptartment (ahem) in collusion with Dem-led Congress (ahem BFrank) all is the direct cause of the huge mess.

The poor miss-informed Occupy crowd, as we know, has been duped...

Apparently Major Blooom finally admitted it today.

Let's see, here you go:

"You can buy a house for nothing down, and all you have to di is sign here....ahem, yes, on the line that says Democrat Party."

"What do I have to do? I can't pay the rate in four years! I can pay it now, but what then??"

"No worry....just sign where it says 'you get a new house!' and be sure to vote Dem, or else your new house will be, well, maybe in jeopardy of being repossess by the evil Wall-Street crowd, and the evil Repubs."

"Gosh, thanks, Mr. Barny! We couldn't do it without you!!"

Never mind that the poor people who could never afford them in the first place had to be the pawns.

WHAT A SCAM!!!!

All the $$ ending up back in the Dem piggybank. VOTES purchased.

By bluejay
10/31/2011 7:17PM

Welcome To The Age Of Bank Failures

The Age of Bank Failures

19 October 2011

By Greg Hunter’s USAWatchdog.com

The U.S. stock market surged yesterday on news the European Union (EU) would deploy a two trillion euro rescue fund to help get its sovereign debt crisis under control. This news was so good even battered Bank of America stock jumped more than 10%. Crisis averted? Hold on, not so fast. Some big French banks are in trouble because they are up to their necks with sovereign debt. Naturally, President Nicolas Sarkozy wants action now. Yesterday, the Financial Times (FT.com) reported the French leader said, “. . . an unprecedented financial crisis will lead us to take important, very important decisions in the coming days.” Raising the sense of urgency, the French president added: “Allowing the destruction of the euro is to take the risk of the destruction of Europe. Those who destroy Europe and the euro will bear responsibility for resurgence of conflict and division on our continent.” (Click here to read the complete FT.com story.)

Jim Rickards of Tangent Capital says you have to distinguish between the bonds, banks and the euro. He said recently in an interview on King World News, “The bonds are definitely going to crash and burn. The bonds are toast. . . . The banks own the bonds, and if the bonds are toast, the banks are toast. . . . But that doesn’t mean the currency is toast.” (Click here for the complete King World News interview with Mr. Rickards.) Rickards expects the euro currency will survive, but many banks will not.

Reggie Middleton of Boombustblog.com says the reason for the coming bank failures is simple—high debt loads. Middleton says many European banks have 40 to 1 leverage. He recently explained how dangerous this was by saying, “I take a dollar and I borrow $39, and I go out and buy something with it. All you need is a 2% move to totally wipe you out—100%. And we all know a lot of sovereign bonds have moved a whole lot more than 2%.” (Click here to see more of Middleton on the Boombustblog.com.) Middleton is expecting more European bank runs as the crisis picks up speed.

Dr. Martin Weiss of MoneyandMarkets.com is also predicting “European megabanks will collapse.” In a recent post, Dr. Weiss said, “Sovereign debt defaults will trigger more bank failures. More bank failures, in turn, will precipitate more sovereign debt defaults. This vicious cycle will cut off the flow of credit to businesses and households, sink the global economy into a depression, and perpetuate the vicious cycle. Ultimately, we will see an extended period of great economic hardship for billions of people on every continent.” (Click here for the complete Moneyandmarkets.com report.)

The risks associated with the European sovereign debt crisis are not overblown. Some of the top government financial officials know all too well the real world consequences of a daisy chain of out-of-control debt defaults. Just last month, Bloomberg reported Treasury Secretary Tim Geithner’s warning to the EU. The report said, “. . . Geithner pressed European policy makers to intensify their efforts to end the 18-month sovereign debt crisis and avoid the “threat of cascading default, bank runs and catastrophic risk.” In his strongest public push yet for Europe to step up its crisis-fighting, Geithner said strains in the euro-area’s budgets and banks are the “most serious risk now confronting the world economy.” (Click here for the complete Bloomberg report.)

The EU can’t save all the banks, but that is not going to stop them from printing money to pick and prop up winners. As we all know, every bank cannot be a winner. The problem is so big that European banks are allowed to lie about the value of their assets to project the image of solvency. The same is true for American banks. When European banks start failing, there is no way U.S. banks will be able to avoid being sucked into a vortex of default. For anyone who thinks this crisis can be resolved with a pain free plan—forget it. Welcome to the age of bank failures.

By bluejay
10/23/2011 7:23PM

From the Mountain Messenger under "The Sixteen To One Mine In The Crosshairs from 9/30/11:

"No matter, declared the AG. The case, the prosecutor argued, is not about the deficiencies or crimes of the government: it is solely about the missing documentation. The justice of the situation doesn’t matter. Only the $2 million is at issue, which must be imposed immediately."

"The justice of the situation doesn't matter? Only the $2 million is at issue, which must be imposed immediately."

Give me a break, Mr. AG. One wrong doesn't make a right! If a judge can't see where you are coming from then we're all destined to be robbed by the State. If a $2 million assessment is ordered against the Mine it will just be the beginning of an extreme tyrannical power play to fix the out-of-balance incompetent management of the State's financial affairs.

"The $2 million must be imposed immediately?" Immediately, yes I would suppose it would have been better to submit the reports and then later protest but just look at all the expense in the past just to get the attention of the Water Board to understand that the mill was closed. The money that was to be used for the in question water tests was used up in time and expenses just to get the Board's attention that the mill wasn't open any longer which they refused to recognize over and over again.

What were we suppose to do, sell body parts to pay for the tests that proved that a closed mill wasn't operating anymore?

It's fairly obvious what's going on here: The Water Board has a personal agenda against the Mine's president and his staff along with a AG that has been probably ordered by the Legislsture to go find some money with the added benefit to him that a conviction and big settlement would be great for his overall batting average.

The conviction rate of Federal prosecutors is near to 99%. At whose expense? It's a fact that part of those convictions put folks in jail who were innocent people, who were not criminals. Martin Armstrong reports that it was these innocents who were the great majority of suicides while in captivity.

I hope the judge has some compassion for the potentially many shareholders that will be financially affected over a trivial matter that began with the Sixteen To One officers and staff showing the Water Board how incompetent they really were following many face to face hearings.

No one likes to be wronged, not even the Sixteen To One Mine, but when the Water Board gets personal and vindictive its time for higher authorities to reassess what truly their responsibilities are and determine if there are grounds for disciplinary action that have brought the office of the AG into an unjust action in which could turn out to be an embarrassing incident for the State.

By bluejay
10/23/2011 3:50PM

Is the root of evil for us at the Water Board resulting because we never passed stuffed envelopes under the table to them but instead, just asked them to do their job?

"What truly exist(s) are corrupt corporations paying bribes to government for favorable treatment. End lobbying, pay for all elections and then you will eliminate the influence that has corrupted society. Those who run for office (1) cannot use their own funds to retain that office or run for election, and (2) install one term only rule. Make politics once again an honorable position, not a profession.

Do that and gut the regulators and courts and you will see the light of FREEDOM shine once again and return government to the people."

Martin Armstrong

By bluejay
10/15/2011 4:25PM

/More from Bob Chapman/

Most of these corporate miscreants are technology and pharmaceutical giants, who need a tax break like they need a hole in the head. This is 2004 all over again, but this time the number is $2.2 trillion not $350 billion. Back then they were supposed to create jobs. They created very few and took the funds to buy their stock to push up the price, so officers of these corporations could cash in their options and make hundreds of billions of dollar(s). This time they’ll do the same thing and make trillions, as Americans suffer in the worst depression since the 1930s.

fact these corporate titans laid off thousands of workers the last time around.
The revenues being lost by government would have accrued to the people over the next ten years, but the elitists cannot wait. They want their money now.

They are Apple with $12 billion, Microsoft with $29 billion and Goggle with $17 billion for starters. These are not corporate derelicts. Politicians cannot agree on a debt extension, but they have no trouble agreeing on a redistribution of the people’s taxes upward to the very rich. This is really what Occupy Wall Street is all about.

Last time around we saw the same lobbying and the return on their investment 22,000%. There was no domestic investment, no more jobs, just less and no R&D. Shareholders of the stocks of these companies made out like bandits. It is a fact these companies laid off some 21,000 workers after they received their largess. Pfizer, which repatriated $35.5 billion, then laid off almost 12,000 employees.

Compensation for the officers of these firms jumped almost 30%. Are you getting the message?
If nothing else this is totally unpatriotic. The average American suffers, as the rich get richer. They want to laugh all the way to the bank again. It is no wonder people are enraged.
What will happen again is no one will be hired, corporate share buybacks and dividend payments will increase and our deficit will widen, as tax revenue spikes downward.
This can only happen in America, the most corrupt country in the world.

By bluejay
10/15/2011 3:33PM

In today's International Forecaster, written by Bob Chapman:

America’s corporate criminals are not satisfied with depriving 11.7 million Americans of their good paying jobs, but now they are pushing for a repatriation tax holiday for $2.2 trillion they hold in tax havens offshore and pay little or no tax in the process.

The momentum is underway by transnational conglomerates that have hired hundreds of lobbyists and others to cajole and pay off politicians to get their legislation passed, which will screw American taxpayers out of $787 billion in tax revenue. This cannot be called anything else but a tax giveaway to multinationals who along with Wall Street, banking, insurance and Parma companies that control our country by buying off these same politicians. It is just like another travesty, the Import Export Bank that guarantees US investments in foreign lands at taxpayer expense.

A bill has been introduced by Senator John McCain and Senator Kay Hagan to lower the repatriation tax to 9%. Eight years ago they pulled this and had a 5-1/4% rate. There is a similar bill in the House, as Senator Charles Schumer brings Democrats in line for their payoffs for expediting the corporate payoffs. Only in America!

This is a redistribution of wealth to the rich. A corporate subsidy – corporate welfare as American unemployment hangs at 22.6 and inflation hovers at 11.4%. This is the total corruption of the political system, and the apex of corporate greed and Congress could care less, as long as they are paid off.

By Rick
10/12/2011 6:42PM

California AG Kamala Harris should prioritize:

How about waking up and prosecuting the CDAA, the Regional Water Boards and do some actual meaningful prosecuting.

I'd love to see the robo-signatures that rubber-stamp the rogue behavior of these crooks.

By bluejay
10/11/2011 11:42AM

California pulls out of 50-state foreclosure talks

By DON THOMPSON

SACRAMENTO, Calif.

California Attorney General Kamala Harris says she will not agree to a settlement over foreclosure abuses that other state attorneys general are negotiating with major U.S. banks.

Harris' announcement Friday is the latest to undermine a settlement that had been in the works between the banks and attorneys general in all 50 states. Other states including New York also have expressed reservations.

The agreement was supposed to settle claims of poor mortgage and foreclosure practices, including document fraud known as "robo-signing."

Harris says in a letter to state and federal negotiators that the pending settlement is "inadequate" and gives bank officials too much immunity.

She says California will go it alone in negotiating a settlement.

Iowa Assistant Attorney General Patrick Madigan says the multistate effort will continue.

By bluejay
10/09/2011 8:45PM

The Bank of New York Mellon is going down according to the man who brought Bernie Madoff's Ponzi scheme to the attention of the SEC. Madaoff's Ponzi's scheme amounted to $65 billion.

Mr. Harry M. Markopolos alleges that the New York Bank Mellon cost tens of millions of Americans between $6 to $8 billion from their retirement savings accounts by cheating them on fraudulent foreign currency mark-up and mark-down charges during past decades.

Check out more of what the whistleblower Markopolos has to report against the bank during an October 8, 2011 interview by Eric King of King World News.

The Bank of New York Mellon is the largest custodial bank in the country.

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/10/8_Harry_M._Markopolos_files/Harry%20Markopolos%2010%3A8%3A2011.mp3

By bluejay
10/08/2011 10:03AM

On a regular basis, folks should continue their education. There is no better place to allot some of your precious time than to tune into http://www.martinarmstrong.com.
Yesterday's commentary entitled, "Occupy Wall Street, Gold & Did Operation Twist Send The 30 Year Rates To Record Lows?" is another piece of brilliant writing by Mr. Armstrong, always with an historical twist of its own.

http://www.inflateordie.com/files/OWS%20Gold%20and%2030%20Yr%20Rates%2010-08-2011.pdf

By bluejay
10/07/2011 9:20AM

From Martin Armstrong:

There is NO constant in money because money is simply another variable in the entire economic-mix. Gold is a COMMODITY that is rare enough to provide a STORE-OF-WEALTH that is recognized universally on a global scale. REAL ESTATE has no international value because it cannot be transported outside the domestic economy. LABOR has no true international value because it fluctuates among nations dependent upon a host of other factors. Gold is a commodity that is the same in all nations, yet its value varies internationally because it is a hedge against the fiscal mismanagement of government. There is ABSOLUTELY no government that has not defaulted upon its debt except Romania during the 1980s.

By bluejay
10/05/2011 3:55PM

More Market Rigging.

Kitco News reports today that the CME Group raised copper margins by 15%.

Check out the link below depicting a chart of copper, absolutely, showing no price reasoning for increased margins at this time. It must be clearly apparent to trained observers that the metal was heavily shorted some weeks back and now, the insider big shorts are hoping to flush copper from weak hands with this move.

Will authorities investigate? I don't think so.

http://stockcharts.com/h-sc/ui?s=%24COPPER

By smithsgold
10/05/2011 11:15AM

Thanks for the update !!!

By bluejay
10/03/2011 6:30PM

Greg Hunter spells out the OTC derivatives risk today by some major US banks:

The Bank of International Settlements pegs the total world over-the-counter (OTC) derivative exposure at around $600 trillion, but many experts say the real figure is more than twice that amount. No matter which figure you use, it is a gargantuan sum. OTC derivatives are an unregulated dark pool of money with no public market. These are basically debt bets between two entities on things such as credit risk, currencies, interest rates and commodities. According to the latest report from the Comptroller of the Currency, just four U.S. banks have an eye popping $235 trillion of OTC derivative leverage. (Click here for the complete Comptroller of the Currency report.) As a nation, U.S. banks have a total OTC derivative exposure of $250 trillion. So, the fact that just four U.S. banks have this much leverage and risk is astounding! The banks are listed below in order of size and approximate OTC exposure:

1.) JP MORGAN CHASE BANK NA OH

$78.1 trillion OTC derivatives

2.) CITIBANK NATIONAL ASSN

$56.1 trillion OTC derivatives

3.) BANK OF AMERICA NA NC

$53.15 trillion OTC derivatives

4.) GOLDMAN SACHS BANK USA NY

$47.7 trillion OTC derivatives

Considering that the total assets of these four banks are a little more than $5 trillion, I see a frightening amount of risk with a total derivative exposure of $235 trillion! This is nearly 50 to 1 leverage. On top of that, assets such as real estate or mortgage-backed securities can be held on the books at whatever value the banks think they can sell them for in the future. I call this government sanctioned accounting fraud, or mark to fantasy accounting. Who knows what the true value of the banks “assets” really are.

By SCOOP
10/03/2011 3:33PM

The public celebration of the 100th anniversary of Original Sixteen to One Mine, Inc. will be scheduled on a future date to coincide with the State Legislature's resolution in recognition of the event. Thank you for asking. As soon as a date is decided it will be posted here. Please pass the word to any other Shareholders you may know.

By bluejay
10/03/2011 11:45AM

The following gold production numbers for the U.S. were provided by Stan Sudol in his recent article, "North Ontario -A Golden Klondike - 192 Million Ounces and Counting:"

Top Gold Producing American States in 2010 (State Geological Surveys)

In 2010, the United States produced 228,000 kilograms (8,042,463 ounces) of gold, the third largest amount globally. Nevada produced 163,000 kilograms (5,749,656 ounces) and the remaining other states mined 65,000 kilograms (2,292,808 ounces). (United States Geological Survey)

Please note that the statistics from individual State Geology branches are not always in sinc with the United States Geological Survey. (1 kilogram equals 35.2739619 ounces)

Nevada - 5,338,559 ounces

Alaska - 845,144 ounces

Utah - 283,220 ounces

Colorado - 231,000 ounces

Washington - 198,810 (gold equivalent production: Kinross)

Arizona - not available

California - 174,446 ounces (2009) - In 2010 150,000 ounces were produced at the Mesquite Mine in Imperial County operated by New Gold(NGD).

South Dakota - not available

By audiger
09/29/2011 9:32PM

What is being planned for 100 year aniversary an of the Original Sixteen to One Mine's Incorporation? I for one would love to attend and plan to be there.

By bluejay
09/29/2011 4:17PM

More Bank Subsidies On The Way?

Candice Choi, AP Personal Finance Writer, On Thursday September 29, 2011, 5:16 pm

NEW YORK (AP) -- Will a monthly debit card fee soon be the norm? Bank of America said Thursday that it plans to start charging a $5 monthly fee when customers make debit card purchases. The fee will be rolled out starting early next year.

---The fact of the matter is that when Bank of America took over Countrywide Reality they under-estimated all the toxic waste that went with it. Bob Chapman says that if major US banks realisticlly priced their toxic waste it would become known that they are, actually, insolvent.

So one way or the other, the consumer continues to bail out the banks.

There are 520 million issued debit cards. $5X12mosX520million= $31.2 billion in new yearly proposed bank charges coming if BOA gets their way and all the other banks join into taking for themselves $5 each a month from our checking accounts.

The reason the economy stinks is all the money being sucked from us via loans and high interest credit cards payments to banks is NOT BEING RECIRCULATED back into our local economies. Think about it: we don't need fancy worded stimulus plans, we need lower interest payments to lenders so our local economies can be well greased with the fruits from our labor.

In the early 80's the lid on the general usuary law was lifted by Paul Volker. Who has the guts in Washington to get the big bankers back in line???? Or, just let the parasitic block suckers fold and let the chips fall where they may.

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