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



	April 5, 2020 Sunday

Forum
Topic:
Miscellaneous

By bluejay
06/01/2013 10:21AM

Big banks being allowed to write their own ticket while Congress does what it does best, not much. 2016 should be the year of voter rebellion with growing numbers of American showing their frustration by voting against the two-party system.

From today's International Forecaster:

Big Banks Still Write the Rules: Fmr. Inspector General of Bank Bailout
By Lauren Lyster

Former Federal Reserve Chairman Paul A. Volcker has announced he’s taking on the public’s eroding faith in government with a new foundation called the Volcker Alliance. He’s set to address an audience today in New York on the challenges facing regulatory reform, including how slowly Washington has moved on putting Dodd-Frank financial reform into effect.

The New York Times recently reported Citigroup’s (C) input was reflected in more than 70 lines of an 85-line bill that sailed through the House Financial Services Committee this month. The bill would exempt broad swathes of derivatives trades from new regulation. Two key paragraphs, according to the Times, prepared by Citigroup together with other Wall Street banks, were copied almost word for word.
http://finance.yahoo.com/blogs/daily-ticker/big-banks-still-write-rules-fmr-inspector-general-131105952.html?=vp1

Enough Is Enough

By bluejay
05/31/2013 7:50PM

Outrageous is what I have to say. The Patriot Act that our blind representatives couldn't read but signed anyway? The Sixteen to One has no such requirements to buy our shares.

A question is, when does all this squeezing the people stop?

Some brokerage firms really suck. As an example, my daughter was holding shares of a US company that took over a Canadian one which she originally put her money in. When it came time for her to sell the US company she put in a market order. The report that she received was from the pink sheets, not the American Stock Exchange where the US company was listed.

Strange? Very, very strange. She went back to the broker and checked the price as it was 30 cents lower than the American's last sale when the currency exchange was at par, meaning 1 US dollar buys exactly 1 Canadian dollar. She was told since she bought the shares in converted Canadian funds from US funds then they have to be sold in Canadian funds to be transferred back into US dollars. What a pile of meadow muffins. Remember she was selling a US security in the United States and expecting funds in US dollars. That brokerage firm had a real big software problem. She complained and the reviewing regulators said the brokerage firms acted in good faith. Of course, she got really hosed in the Pink Sheets which the regulators said was the best market in town at the time. Total BS.

She wrote a letter of protest to a congressman and never heard back. The commercial banks affiliated with brokerage firms are stealing from America but no one seems to care. We are all way over regulated by buffoons.

To prove this point, let's take another simple transaction. I buy a gold coin in Mexico for Pesos. I return to the US and sell it to a coin dealer. Does he ask me in what type of currency it was acquired with, of course not.

What do we need a stock exchange for, it used to be a convenience. Now we have the Internet and PayPal. Try putting up a bid for your shares on Craig's list, see what happens. I bet if you make a transaction from a holder of physical stock no one will ask you for anything but the money. The shares can easily have their names changed at the transfer agent. Or better yet, just give Rae a call and she'll help you with a purchase of our shares. At least you and your wife won't be frisked here.

By fredmcain
05/28/2013 1:50PM

Another thing I came across on the Patriot Act, a year or so ago I tried to open a new brokerage account at Vanguard for my wife and me.

They told me they would not do it unless I had a good copy of her SS card, a photo I.D. and at least one other source of I.D.

I couldn't believe it! I NEVER needed that kind of stuff to open a new account before. They apologized but told me they had to have it. They blamed it on the "Patriot Act". I asked them why they just needed it for my wife and not for me and they weren't really able to answer that.

In the end, we did not open the account. I thought PHOOEY! That's too much trouble for what I was trying to do!

Go figure.

Regards,
Fred M. Cain

By bluejay
05/26/2013 2:25PM

It was the 911 Attack that swept in the Patriot Act and now any bank wire for $3,000 mut be reported to the government. Pretty soon it will be an ATM withdrawal of $2 or more. Remember Elliot Spritzer who started to go after Wall Street, suddenly his checks were being examined under the terrorist acts but revealed a prostitute. So he was forced to resign. That protected Wall Street bankers.

By bluejay
05/17/2013 7:54PM

Ee have a lot more in common with Rome than meets the eye. The cost of government destroyed Rome. The same problem of UNFUNDED LIABILITIES is precisely what is undermining our future. There could be a resolution, but it will take serious reform and there is just no appetite for that at this time.

Martin Armstrong

-------------------------------------

The professional politicians only want their salaries and freebies supported by the
status quo. These people won't do anything creative, like reform, until during a crisis when can't hide from it anymore. What a poor excuse for representatives of the people.

By bluejay
05/17/2013 12:13PM

From Martin Armstrong:

Germany Imposing a Glass-Steagall-Like Act with Teeth
Posted on May 17, 2013 by Armstrong Economics
Germany is drawing a bright line between proprietary trading in banks and customer deposits. They are not merely separating the two, but they imposed criminal sentences for directors of banks and insurance companies if they fail to fulfill their supervisory duties in risk management or contravene an array of banking supervision.

Germany will at least prosecute the bankers, unlike the United States. Obama’s green-light policy that has protected the New York bankers is starting to filter around in Washington and the bankers should be worried that they may not be able to buy off the prosecutors again after 2015.75.

The tide is starting to turn largely because the NY bankers have sent the entire world into chaos for their irresponsibility trading with other people’s money. When the economy turns down again, this time the heads may roll.

http://translate.google.com/translate?sl=de&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&eotf=1&u=http://www.n-tv.de/wirtschaft/Deutschland-spaltet-seine-Banken-article10663041.htmlhttp://www.n-tv.de/wirtschaft/Deutschland-spaltet-seine-Banken-article10663041.html

By bluejay
05/14/2013 10:52AM

How safe are our government pensions?

This is what was done to Japanese pension holders in 1989.

The biggest fund in the world was the Japanese Postal Savings Fund in 1989. When we were called in to create a hedging program about 6 months before the high, it was Japanese Ministry of Finance who picked up the phone and asked that they did not do that for if they sold, they would make the Nikkei go down. The portfolio was US$1.2 trillion. No individual fund ever reached that level again. The hedge was not put on and the fund lost untold amounts of money. By 1999, I stood up in our Tokyo seminar and announced that that fund was insolvent. The government used that fund to try to support the markets until nothing was left and redemption became liabilities of government.

Martin Armstrong

By bluejay
05/13/2013 6:40PM

It strongly appears that the past Idaho-Maryland mining property has zero chances of reopening with the last sale on EMGOLD at 2 cents a share. This is another serious blow at reaping California's past producers.

The Washingon Mine outside of Redding is attempting to get reopened by a private concern, we'll see.

Down in the Mother Lode Sutter Mining is still working on opening up for gold mining, we'll see.

If gold continues lower both these projects might just shut down as well.

The Sixteen to One continues to have positive economics just as long as gold is found here and there with a chance of a sizable lode being found

By bluejay
05/10/2013 11:08AM

Are you prepared for the end game?

The likes of Bill Gates and his buddy Warren Buffett are supporting the destruction of commerce with taxing the rich to support a corrupt system that is doomed. It is easy for them to say yes tax the rich even more when you are talking about income. How would they respond to the confiscation of assets? Why do they not donate everything they have keeping just enough for a middle class lifestyle and give it all to government? They would never be where they are had taxes been much higher when they were trying to get started. The assumption is that government is being properly run and the problem is always the individual. They have their’s so the hell with everyone else. Turn it all in if you want to advocate such fiscal-irresponsibility. Neither has to worry about Social Security and how that has been taking more in taxes from people than income tax with no refunds.What is the end game? They obviously are ignorant of history for this can only lead to one place. If they tax 100% of the “rich” who are defined as household income $250,000 or more not billionaires, government will ALWAYS spend more. It never stops until it collapses.

http://www.huffingtonpost.com/mobileweb/2011/10/31/bill-gates-says-he-supports-taxing-the-rich_n_1067079.html

Martin Armstrong

By bluejay
05/09/2013 9:36PM

J.P. Morgan-Chase playing illegal hardball with folks in trouble with their charge cards.
California sues J.P. Morgan Chase Illegal Practices

Posted on May 9, 2013 by Martin Armstrong

The NY Banks are use to controlling the courts in NYC so much so that they forgot the rest of the world does not accommodate everything they do. California’s attorney general filed suit Thursday, alleging that JPMorgan Chase & Co. used illegal tactics in its efforts to collect debts from more than 100,000 credit card holders between 2008 and April 2011.

The number one tactic used is to get rid of lawyers to prevent a defense or go after people who can not afford lawyers to ensure victory. JPMorgan Chase used this famous NY strategy in California. The complaint read:

“At nearly every stage of the collection process, defendants cut corners in the name of speed, cost savings, and their own convenience, providing only the thinnest veneer of legitimacy to their lawsuits.” It further alleges that JPMorgan Chase sued borrowers “based on patently insufficient evidence — betting that borrowers would lack the resources or legal sophistication to call defendants’ bluff.”

JPMorgan Chase engaged in what has become called ”robo-signing” where they churned out lawsuits that was a practice which became widely used during the mortgage foreclosures until it was outlawed. Banks were forging signatures and pretending they had titles when the did not. JPMorgan Chase was one of the five major banks that settled with California and other states after the housing market meltdown for such practices.

This time the lawsuit concern debt-collection where once again officials similarly signed legal documents that included sworn declarations without reviewing the related files and bank records or even reading the documents. Anyone else would get 5 years in prison for such antics. JPMorgan Chase actually filed 469 debt-recovery lawsuits in a single day day alone. The company’s in-house lawyers filed an average of 100 lawsuits a day for each day the courts were open while its outside counsel filed yet another 20,000 lawsuits.

California is now seeking a permanent ban on the allegedly illegal practices as well as damages for borrowers who were harmed as the company rushed to obtain court judgments and wage garnishment orders without properly checking documents. They also are seeking a $2,500 for each violation of state law, and an additional $2,500 for every lawsuit that involved a senior citizen or disabled person.
http://www.latimes.com/business/money/la-fi-mo-california-ag-files-suit-against-jpmorgan-chase-alleging-debtcollection-abuses-20130509,0,6695376.story

By bluejay
05/02/2013 2:08PM

Jim Sinclair’s Commentary

A friend of mine in the legal community warns that there is legal precedent for "Bail-Ins" in the USA. (Bail-Ins are justification for the banksters stealing depositor's money . The bottom line: you are at an increasing risk in trusting your funds to the big banks)

(1) The Uniform Commercial Code, Article 4 governs the legal rights between a bank and its customer. I’ve attached the table of contents for that article. The UCC does not, however, define the relationship. The UCC has been enacted in 49 states and in D.C. Our friends in La. Declined to adopt it back in the 50s.
(2) Spizizen v. National City Corp, a very recent case out of the 6th Circuit. I’ve highlighted the holding, which states: "The relationship between a bank and its depositor is one of a debtor-creditor," citing Michigan case law. This case also cites to Article 4 of the UCC, which I’ve highlighted.
(3) AmEx Travel v. Sidamon-Eristoff, another recent case, this one decided by the 3rd Circuit in New Jersey. I’ve highlighted that section in which that court has cited earlier U.S. Supreme Court cases which hold: "Since the bank is a debtor to its depositors…."

By bluejay
04/22/2013 8:34AM

Napoleon Bonaparte’s contribution to government structure & politics:

“If you wish to be a success in the world, promise everything, deliver nothing.”

From Armstrong Economics

By bluejay
03/30/2013 3:29PM

Politicians will ONLY make decisions that protect their vested positions. It is NEVER about representing the people, what is best for the nation, just for their own survival. Change will ONLY come when there is no choice.

I would never trust these people to wash my clothes. It would be way too complicated with all the colors and what-not for them to make a decision.

Martin Armstrong

By bluejay
03/23/2013 6:33PM

From King World news:

ric King: “You have warned recently that the IMF cannot afford to make a misstep or the West would be faced with unprecedented financial destruction and massive bank runs.”

Sinclair: “If Lagarde and the IMF sustain their position that the Troika has the right to tax, confiscate, or haircut the depositor, whatever you want to call it, then what the Troika has announced to the world is that the sacrosanct nature of deposits no longer exists.

This puts the entire concept of ‘insurance’ on deposits in question. This will mean that deposits of size in banks will move to seek other areas of safekeeping because the banking institutions will purely be seen as houses of confiscation.

The dream that no depositor would be hurt by the collapse of the financial world, based on fraudulent over-the-counter-derivatives, triggered by the flushing of Lehman, will be exposed as an absolute and total lie. This will trigger tremendous runs on banks any time that a bank or that system has any financial pressure.

This has the potential to create a revolution. A misstep by Lagarde and the IMF here could do far more damage than what the world witnessed after the collapse and liquidation of Lehman. That is what is at stake here.

The seriousness of this upcoming decision by the IMF, should they in fact decide to steal from depositors, I firmly believe that Mrs. Lagarde and the IMF will go down in history as causing far more financial devastation than the flushing of Lehman.

The story in Cyprus right now is not about capital controls, that was an obvious side effect of this disaster, the story will be this upcoming decision by the IMF. God help us if Mrs. Lagarde and the IMF make one of the greatest mistakes in history.”

By bluejay
03/20/2013 8:40AM

Forced loans and abandoning the rule of law

http://armstrongeconomics.com/2013/03/20/m-f-global-1st-cyprus/

By bluejay
03/02/2013 1:52AM

History stands as witness that it should be AGAINST the law for politicians to ever BORROW. This is the way ALL governments perish. It is the triumph of hope over experience. It is like the person who gets married after the 10th divorce. When will we ever learn – (1) term limits to restore real representation, and (2) no borrowing. Anyone who buys government debt deserves to lose everything. They are the ultimate fools. You do not even get a penny on the dollar when government goes broke. Even clients at M.F. Global got something back.

Martin Armstrong

By bluejay
02/01/2013 9:18AM

Gold Production Cliff

http://business.financialpost.com/2013/02/01/gold-production-cliff-ahead/

By bluejay
01/27/2013 11:04AM

From http://www.jsmineset.com

Hi, Jim,

I thought you might like to share a poem I wrote with your readers. I’ve got more. I find that poetry helps explain things in a better perspective sometimes.

CIGA Matthew

CHAMELION’S GOLD:

When Jefferson spoke of money
Our gold was brightly seen

A lighthouse across the pond
That escaped the English Queen

200 years of bankers lanterns
Makes fogs of gray cloud minds

Guiding the lost with promises
Of a new and better kind

The promise of the bankers note
Was filled with lies and spin

Jekyll Island and the Federal Reserve
Was the beginning of the end

Just bring the note in lightly with ease
Walk out with gold and silver to spend

But what happened to the promise when it vanished from the note?
The old devil told the new one, "Haha, I told you this works well!"

Divide and conquer by deceit
For centuries the game is played this way

They hire a crew in Congress and News
Talk in spades and false arguments
While lobbying those who should lobby for you

The founders knew well- for years we’ve been told
That to keep your money from scoundrels
Everything green must be gold

Jim Sinclair’s Commentary

When surrounded by the mean and awful of today’s financial world, a spontaneous act of kindness clears away the crap.

By bluejay
01/24/2013 4:50PM

From http://www.jsmineset.com:

Dear Jim,

The president is going to announce that Mary Jo White will be the new chairman of the SEC. Here is a little background info on Ms. White:

She is currently chair of the litigation department at Debevoise & Plimpton.

Of which lists the following as clients: AIG, American Airlines, American Express, AXA, BNP Paribas, The Carlyle Group, Clayton, Dubilier & Rice, The Coca-Cola Company, CNN, Delta Air Lines, Deutsche Bank, Gap, Goldman Sachs, Hasbro, International Paper, JPMorgan Chase, Kelso & Company, MetLife, National Football League, National Hockey League, NBC, The New York Times Company, Providence Equity Partners, Prudential Financial, Polyus Gold, Siemens, Shell Oil Company, SONY, Universal Music Group, Verizon, Yahoo!.

The more things change, the more they stay the same.

CIGA Sarah

By bluejay
01/22/2013 6:55PM

Switzerland issues every adult a gun and trains them how to use it. Switzerland has the lowest gun related crime rate of any civilized country in the world.

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