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Offline g

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Re: St. Peter waits for David Stockman
« Reply #15 on: January 22, 2016, 12:09:00 PM »
NOW David Stockman GOT RELIGION?!?!?  This is like a Child Molester repenting on his death bed for all the anguish he caused in the past in the attempt to make it through the Pearly Gates.  I don't buy it, and I don't think St. Peter will either.

<a href="http://www.youtube.com/v/dvgZkm1xWPE" target="_blank" class="new_win">http://www.youtube.com/v/dvgZkm1xWPE</a>

RE

The basis of my religion in this regard, Roman Catholicism, is that all sinners whom are TRULY sorry for their sins and repent will be forgiven.

Offline g

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Re: The Signposts Up Ahead
« Reply #16 on: January 22, 2016, 12:18:30 PM »
I like Stockman, and I'm willing to give him his bona fides as an economist, since he was a Treasury Undersecretary.

At the same time, his current POV definitely indicates he had a crisis of conscience and started looking differently at the Big Picture sometime after he left the White House post. A Robert McNamara moment, if you will. As a Reagan Rethuglican, he's certainly aided and abetted the process that landed us here.

Do you know of anyone else who might have been awakened from his youth to a more realistic sobering look at the world in his senior years?

Personally, I think there might be a couple of billion of us who think differently as we age and learn from our youth.

     It's a pity youth is wasted on the young.

   
George Bernard Shaw

Offline RE

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Re: St. Peter waits for David Stockman
« Reply #17 on: January 22, 2016, 12:42:11 PM »
The basis of my religion in this regard, Roman Catholicism, is that all sinners whom are TRULY sorry for their sins and repent will be forgiven.

Me & St. Peter will buy that DS is TRULY SORRY for his sins when he gives all his wealth to the Homeless and agrees to scrub their toilets for the rest of his life.

RE
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Offline Surly1

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Re: St. Peter waits for David Stockman
« Reply #18 on: January 22, 2016, 01:02:32 PM »
The basis of my religion in this regard, Roman Catholicism, is that all sinners whom are TRULY sorry for their sins and repent will be forgiven.

Me & St. Peter will buy that DS is TRULY SORRY for his sins when he gives all his wealth to the Homeless and agrees to scrub their toilets for the rest of his life.

RE

And I will buy that proposition when you produce the Power of Attorney from St. Peter.

It's pretty clear that DS is working to atone for sins of commission committed during the Raygun years, when they first started to peddle this trickle-down nonsense. In much the same way that PCR utters unarguable truths with nearly every article. Both of them served the same puppetmasters who pulled that fatuous B-actor's strings while he was still walking around without a drool cup.

If people come to the light and redefine their views after seeing the error of their ways, isn't that worth a litlte consideration? C'mon man.

Quote from: Luke 15:10--
"In the same way, I tell you, there is rejoicing in the presence of the angels of God over one sinner who repents."

On the other hand, I DO agree with you that "the meek will inherit the earth" right after the meek get very, very angry.
 :exp-grin:
"It is difficult to write a paradiso when all the superficial indications are that you ought to write an apocalypse." -Ezra Pound

Offline g

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Re: St. Peter waits for David Stockman
« Reply #19 on: January 22, 2016, 01:13:00 PM »
The basis of my religion in this regard, Roman Catholicism, is that all sinners whom are TRULY sorry for their sins and repent will be forgiven.

Me & St. Peter will buy that DS is TRULY SORRY for his sins when he gives all his wealth to the Homeless and agrees to scrub their toilets for the rest of his life.

RE

Jesus made the rules, not you or St Peter.

And if you should really happen to think that it was David Stockman who brought us to this sorry state we find ourselves in, then you need a new head.



8 1 but Jesus went to the Mount of Olives. 2 Early in the morning he came again to the temple. All the people came to him, and he sat down and taught them. 3 The scribes and the Pharisees brought a woman who had been caught in adultery, and placing her in the midst 4 they said to him, “Teacher, this woman has been caught in the act of adultery. 5 Now in the Law Moses commanded us to stone such women. So what do you say?” 6 This they said to test him, that they might have some charge to bring against him. Jesus bent down and wrote with his finger on the ground. 7 And as they continued to ask him, he stood up and said to them, “Let him who is without sin among you be the first to throw a stone at her.” 8 And once more he bent down and wrote on the ground. 9 But when they heard it, they went away one by one, beginning with the older ones, and Jesus was left alone with the woman standing before him. 10 Jesus stood up and said to her, “Woman, where are they? Has no one condemned you?” 11 She said, “No one, Lord.” And Jesus said, “Neither do I condemn you; go, and from now on sin no more.”]]


                                               

              The Penitent Magdalene is a 1565 oil painting by Titian of Saint Mary Magdalene, now in the Hermitage Museum in Saint Petersburg.

Offline RE

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Re: St. Peter waits for David Stockman
« Reply #20 on: January 22, 2016, 01:31:40 PM »
And I will buy that proposition when you produce the Power of Attorney from St. Peter.

It was issued in 2008. :P

st peter 2
st peter 2

That was when I received the MISSION FROM GOD.


RE
« Last Edit: January 22, 2016, 01:35:48 PM by RE »
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Offline Palloy

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Re: The Signposts Up Ahead
« Reply #21 on: January 23, 2016, 02:19:44 AM »
Getting back to original thread starter, yes, that is almost exactly how it will work, only bigger, wider and quicker.  One of Italy's oldest banks is in trouble, (it really is) and folds.  DeutscheBank is the counter-party to the bulk of its credit default swaps, and down they go, exposing all the toxic crap on the books.  Merkel promptly dies of a heart attack and the ruling German coalition breaks up, requiring fresh elections.  Political paralysis in Germany causes rumours and massive leaks of bad news, and Italy's banking system crumbles, closely followed by Portugal.  Spain looks very shaky, and suddenly Catalonia declares independence.  Switzerland breaks it peg to Euro and refuses all Euro transactions. Hong Kong breaks its peg to the Dollar and realigns with Chinese Yuan.  Taiwan follows suit.  Oil drops to $10 /barrel, and Azerbaijan, Kazakstan and Venezuela declare bankruptcy.  Massive runs on Nigerian currency - all their money disappears.  FX in total turmoil.  OTC trading in Treasuries are suspended, but nobody knows why.  Comex defaults, but says it only needs time to recover. Then GS declares bankruptcy.  Inter-bank over-night lending stops dead.  All the billionaire talking heads on CNN say "The economic fundamentals are sound."  And that's just the first 3 days.

In 2008 the Fed forced the Government to let it monetise the problem, but for some reason they can't manage it this time.  A week later the high-street banks are all shut, and the supermarkets are empty.  Queues at gas stations have to be broken up by Police in armoured personnel carriers.  The electricity companies are saying that unless their cashflow is restarted immediately, there will have to be more rolling blackouts.  A major fire at a sub-station in lower Manhattan means that at least THEY won't be getting any electricity.  And are there riots? - yes, everywhere.

I know, let's ask Donald Trump what to do.
The State is a body of armed men

Offline Surly1

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Re: The Signposts Up Ahead
« Reply #22 on: January 23, 2016, 04:34:28 AM »
Getting back to original thread starter, yes, that is almost exactly how it will work, only bigger, wider and quicker.  One of Italy's oldest banks is in trouble, (it really is) and folds.  DeutscheBank is the counter-party to the bulk of its credit default swaps, and down they go, exposing all the toxic crap on the books.  Merkel promptly dies of a heart attack and the ruling German coalition breaks up, requiring fresh elections.  Political paralysis in Germany causes rumours and massive leaks of bad news, and Italy's banking system crumbles, closely followed by Portugal.  Spain looks very shaky, and suddenly Catalonia declares independence.  Switzerland breaks it peg to Euro and refuses all Euro transactions. Hong Kong breaks its peg to the Dollar and realigns with Chinese Yuan.  Taiwan follows suit.  Oil drops to $10 /barrel, and Azerbaijan, Kazakstan and Venezuela declare bankruptcy.  Massive runs on Nigerian currency - all their money disappears.  FX in total turmoil.  OTC trading in Treasuries are suspended, but nobody knows why.  Comex defaults, but says it only needs time to recover. Then GS declares bankruptcy.  Inter-bank over-night lending stops dead.  All the billionaire talking heads on CNN say "The economic fundamentals are sound."  And that's just the first 3 days.

In 2008 the Fed forced the Government to let it monetise the problem, but for some reason they can't manage it this time.  A week later the high-street banks are all shut, and the supermarkets are empty.  Queues at gas stations have to be broken up by Police in armoured personnel carriers.  The electricity companies are saying that unless their cashflow is restarted immediately, there will have to be more rolling blackouts.  A major fire at a sub-station in lower Manhattan means that at least THEY won't be getting any electricity.  And are there riots? - yes, everywhere.

I know, let's ask Donald Trump what to do.

Build a wall. A big fucking wall.

And make Mexico pay for it! :icon_mrgreen: :icon_mrgreen:
"It is difficult to write a paradiso when all the superficial indications are that you ought to write an apocalypse." -Ezra Pound

Offline Bill Sodomsky

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Re: The Signposts Up Ahead
« Reply #23 on: January 24, 2016, 07:38:49 AM »
Assuming we can believe half of what wiki has to report, can anyone seriously tell me this is someone who has suddenly embarked on a "death bed confessional?"

"After leaving government, Stockman joined the Wall St. investment bank Salomon Brothers and later became a partner of the New York–based private equity company, the Blackstone Group.[11]:125–127 His record was mixed at Blackstone, with some very good investments, such as American Axle, but also several large failures, including Haynes International and Republic Technologies.[11]:144–147 During 1999, after Blackstone CEO Stephen A. Schwarzman curtailed Stockman's role in managing the investments he had developed,[11]:146 Stockman resigned from Blackstone to start his own private equity fund company, Heartland Industrial Partners, L.P., based in Greenwich, Connecticut.[12]

On the strength of his investment record at Blackstone, Stockman and his partners raised $1.3 billion of equity from institutional and other investors. With Stockman's guidance, Heartland used a contrarian investment strategy, buying controlling interests in companies operating in sectors of the U.S. economy that were attracting the least amount of new equity: auto parts and textiles. With the help of about $9 billion in Wall Street debt financing, Heartland completed more than 20 transactions in less than 2 years to create four portfolio companies: Springs Industries, Metaldyne, Collins & Aikman, and TriMas. Several major investments performed very poorly, however. Collins & Aikman filed for bankruptcy during 2005 and when Heartland sold Metaldyne to Asahi Tec Corp. during 2006, Heartland lost most of the $340 million of equity it had invested in the business.[13]

Collins & Aikman Corp.[edit]
During August 2003, Stockman became CEO of Collins & Aikman Corporation, a Detroit-based manufacturer of automotive interior components. He was ousted from that job days before Collins & Aikman filed for bankruptcy under Chapter 11 on May 17, 2005.

Criminal and civil charges[edit]
On March 26, 2007, federal prosecutors in Manhattan indicted Stockman in "a scheme... to defraud [Collins & Aikman]'s investors, banks and creditors by manipulating C&A's reported revenues and earnings." At the same time, the United States Securities and Exchange Commission brought civil charges against Stockman related to actions that he performed while he waa CEO of Collins & Aikman.[14] Stockman suffered a personal financial loss, estimated at $13 million, along with losses suffered by as many as 15,000 Collins & Aikman employees worldwide.

Stockman said in a statement posted on his law firm's website that the company's end was the consequence of an industry decline, not fraud.[15] On January 9, 2009, the US Attorney's Office announced that it did not intend to prosecute Stockman for this case.[16]"

As much as I follow his work and BTW... read his "Great Deformation" tomb, it is my opinion that Stockman is pure politician and opportunist. His recent initiative that has him partnering with Jim Rickards (I can't think of a slimier insider-let's not forget LTCM!!!) was all I needed to confirm my opinion of him.

Stockman provides great analysis with an excellent writing style, but he is, for the most part, a one trick pony. He rails on continuously about the Fed, which certainly deserves it, but as Ludlum once put it, they're a soft target. Easy pickins for an already jaded readership.  For the quintessential insider operative, he never takes you into that world where he knows how things really work. He only picks on the front men who are paid to take the heat. I've read him very closely and what I see is a guy looking for a comeback. He wants back in the game where the control levers are and quite a distance from the cheap seats.

I am very cynical about any current or former politician. I trust them about as far as I can throw them. Stockman knows the current system is on its last legs, whatever that means and there is lots of hay to be made as a result. Was he directly/indirectly responsible for where we are today... of course he was. He was the Poster Boy or should I say Wunderkind of the "Greed is Good" era. In his mind, or least writings, if it wasn't for those incompetent Central Bankers it would be BAU. No fucking shit!!! Has he ever mentioned the real criminality, the energy component, the strip mining of countries for every ounce of their natural and human resources. Not a fucking chance. No... he's not going there because when the time's right he wants to be back in the jump seat where the real action is and making big fucking mistakes can be swept under the rug. You'll notice his private business dealings didn't work out to well and are very hard to bury and can't be obscured under layers of bureaucracy.

That said, I enjoy his posts. They are well informed, well supported by detailed data and delivered in an ironic, sarcastic, folksy manner. I am in agreement with him in terms of where we're headed, but trust me, when we get there, Stockman's the last guy I would want righting the ship. Political operatives NEVER come clean they just find RELIGION!

Offline Palloy

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Re: The Signposts Up Ahead
« Reply #24 on: January 24, 2016, 12:35:54 PM »
Well put.   :emthup:
The State is a body of armed men

Offline K-Dog

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Re: The Signposts Up Ahead
« Reply #25 on: January 24, 2016, 02:58:53 PM »
Getting back to original thread starter, yes, that is almost exactly how it will work, only bigger, wider and quicker.  One of Italy's oldest banks is in trouble, (it really is) and folds.  DeutscheBank is the counter-party to the bulk of its credit default swaps, and down they go, exposing all the toxic crap on the books.  Merkel promptly dies of a heart attack and the ruling German coalition breaks up, requiring fresh elections.  Political paralysis in Germany causes rumours and massive leaks of bad news, and Italy's banking system crumbles, closely followed by Portugal.  Spain looks very shaky, and suddenly Catalonia declares independence.  Switzerland breaks it peg to Euro and refuses all Euro transactions. Hong Kong breaks its peg to the Dollar and realigns with Chinese Yuan.  Taiwan follows suit.  Oil drops to $10 /barrel, and Azerbaijan, Kazakstan and Venezuela declare bankruptcy.  Massive runs on Nigerian currency - all their money disappears.  FX in total turmoil.  OTC trading in Treasuries are suspended, but nobody knows why.  Comex defaults, but says it only needs time to recover. Then GS declares bankruptcy.  Inter-bank over-night lending stops dead.  All the billionaire talking heads on CNN say "The economic fundamentals are sound."  And that's just the first 3 days.

In 2008 the Fed forced the Government to let it monetise the problem, but for some reason they can't manage it this time.  A week later the high-street banks are all shut, and the supermarkets are empty.  Queues at gas stations have to be broken up by Police in armoured personnel carriers.  The electricity companies are saying that unless their cashflow is restarted immediately, there will have to be more rolling blackouts.  A major fire at a sub-station in lower Manhattan means that at least THEY won't be getting any electricity.  And are there riots? - yes, everywhere.

I know, let's ask Donald Trump what to do.

Trump will have to amuse himself by yelling "your fired".
.
.
.

This time line is too fast.  You will have people going to work for a few days because they don't know what else to do.  Employers will tell them to go home.  Empty grocery shelves may only be temporary before federal state and local food police make sure slaves are working as they should for their ration card pay and the food pipeline is protected.  Shootings of looters won't have to be on the news because it will be so common local word of mouth passes the word well enough. 

A starvation larder will begin to stock store shelves.  A mad zombie scenario would take a while to materialize and in the meantime total tyranny would assert and provide some rescue to those who have not yet died.  Army street-corner saviours representatives of the squirrelled away TPTB carry assault rifles but will be fully controlled from 'undisclosed locations'.  Americans will be very busy shooting each other.  Week by week the die-off graph ticks up from this self annihilation but after a while death count begins to slow as the lives of surviving Americans are progressively shaped into agricultural serfs of the new order.  For many years all new buildings are made from materials salvaged from decaying strip malls, industrial parks, and deserted suburbs.  Arson carries a death penalty to protect the resource of abandoned buildings, bones of America's former glory.

Under ideal conditions of temperature and pressure the organism will grow without limit.

Offline JoeP

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Re: The Signposts Up Ahead
« Reply #26 on: January 24, 2016, 03:42:27 PM »
A starvation larder will begin to stock store shelves. 

Seems like something similar to this happened on my home Thursday afternoon.  Due to the inclement weather forecast for my area, I left work early to drop by the grocery store.  Knowing I would not be able to grill steaks on the deck Sat. nite I wanted to pick up a beef roast to do in the crock pot.  We usually get a chuck roast, but I didn’t like the looks of the ONE chuck this store had Thursday afternoon.  Jeezus - a single chuck left. So I bought an angus bottom round roast.  As predicted, the bottom round is not quite as tender as a chuck, but it has advantages. It’s much leaner, so there aren’t any huge chunks of fat in the final product.  It was still tender enough to where it had a “shred factor” – in other words, I could poke and pull at it with a fork and the meat would come apart.  I’ll definitely be buying bottom round more often.  One thing I did that I think helps with the tenderness factor is I seared the meat on all sides (after patting it with all over with a flour & pepper mix) in a skillet with heated oil.  I think the searing helps lock in the juices while it’s slow cooking.  IOW, searing might be a little more important with a bottom round.   
just my straight shooting honest opinion

Offline Palloy

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Re: The Signposts Up Ahead
« Reply #27 on: January 25, 2016, 12:53:13 AM »
http://www.jsmineset.com/2016/01/22/the-government-will-never-let-it-happen/
The Government Will Never Let It Happen!
Bill Holter
January 22nd, 2016

What a tangled web the global geopolitical situation has become.  Geopolitics and finance have always been interrelated but recently much more so.  As many readers know, I have speculated we would be hit over the head with a “truth bomb” from the East and most likely from Mr. Putin himself.  Just this week Britain has alleged Mr. Putin personally ordered a “hit” on an ex KGB agent for calling him a pedophile.  Another story came out that Turkey shot down a NATO helicopter which made no press coverage at all in the West.  Also, Victoria Nuland recently travelled to Russia and was refused an audience by Mr. Putin.  This, after John Kerry had a meeting where he went into it saying “Assad must go” and came out saying Mr. Assad can stay …  Why all of this now?  I would simply say this reeks of desperation and also a VERY dangerous strategy to attack Mr. Putin personally.  I say “dangerous” because it raises the likelihood of a response from him.  Can you imagine the outrage were Russia to accuse president Obama or the Prime Minister Cameron of Britain for ordering the murder of someone who called them a pedophile?

Before going any further, I believe nearly ALL of what we are seeing is centered by and on the “petrodollar”.  Will it survive or be replaced?  In my opinion it is no longer “if”, but “when” and by “what” will it be replaced with?  Just over the last two weeks we have seen three very important yet interrelated events.

    First, the sanctions against Iran in place over the last 35 years were lifted.  Along with this comes the ability for Iran to sell oil and they will now have access to up to $150 billion worth of assets and accounts previously frozen as reported by many credible non-government sources.

    The day after, we saw 10 U.S. captured sailors on their knees as they were said to have “strayed” into Iranian water.  The official U.S. account has changed at least twice.  We heard “mechanical failure” at first, this is unlikely as there were reportedly two separate vessels.  If one had mechanical problems, the other could have tied off and either towed it or held it steady until help could arrive.  Then the story changed to “navigational” problems.  This one I believe …but not the official story they “strayed” into Iranian water.  Again, if it was just one boat, maybe their navigation system malfunctioned …at the same time their communications failed …MAYBE?  But both boats …at the same time lost their comm and navigation systems?  Probably a better chance one of these sailors winning the Powerball lottery two weeks in a row!  Speculation on my part, I believe the electronics were somehow hacked or blocked just as happened with the Donald Cook in the Black Sea in late 2014.

    Just a couple of days ago, President Xi of China met with Iranian leaders one day and then the Saudis the following day.  We can only speculate what was discussed but surely oil was the centerpiece.  Naturally China wants to make and diversify oil supply deals from them both.  We have no proof but I believe it is a very good bet President Xi told the Saudis they would be expected to accept yuan for settlement instead of dollars.  There is no denying, the Chinese have done everything in their power to prepare for the dollar being dumped as the world’s reserve currency.  You can argue about timing, you cannot argue about “intent” as China/Russia have set up non Western clearing facilities similar to SWIFT but without any Western interference, trade deals, currency hubs, trading banks, and even gold and oil exchanges where the dollar will not be welcome.

It is not tough to tie all of this together.  I ask you this, what would the world look like the day following a “truth bomb” dropped by Mr. Putin and the Chinese.  Would Americans even notice if he documented several false flags or frauds embedded in U.S. finance such as outright monetization of U.S Treasuries?  No, most certainly not.  Americans would however notice if financial markets collapsed or were shut down.  Russia and China know full well the situation in the West.  It is a bankruptcy waiting to happen as everything is fractional reserve and running on maximum margin while the underlying system is shrinking and no longer supplying enough liquidity.  The way I see it, the stage is truly set for a financial attack on anything and everything American.  Is it implausible for the Saudis to announce they will sell oil in yuan to China?  Or Iran to withdraw their funds from U.S. institutions and then bid for gold with these funds?  If the East does in fact have jamming or hacking capability of Western technology, is it far fetched for them to show it very publicly in one or several situations?  How would the “bookies” react if they saw a prize fighter enter one of the later rounds with his hands tied behind his back?

You can laugh at the above speculation if you choose but it is all quite plausible and actually probable if you look at where things are and what posturing has already been done leading up to this.  Western markets, ALL markets are a fraud.  Our Treasury market is one where the biggest buyer is “our self” …the Fed and the ESF.  We have already seen $1 trillion of foreign reserves offloaded with no effect on yield nor the dollar itself and NO ACCOUNTING ANYWHERE as to “who” bought these offloaded central bank reserves.  Accounting fraud and no rule of law here, nothing to see …please move along!  You can laugh if you want and say Saudi Arabia will never move toward the East …  Saudi Arabia is now in very dire straits financially, who do you think they will side with when Western markets melt down?  Do you really believe they will go down trying to support our dollar?

The stage has already been set.  The East knows the West has bankrupted.  They know we have no gold left because they have it!  They can see the finances of the various cities, states and federal government.  They know the situation in derivatives is one giant mountain of dynamite waiting for a spark.  They know our rule of law is gone and bail ins of depositor funds is next.  We are monetizing their sales of Treasury securities.  “We” are fooling no one except ourselves.  And by “ourselves” I am talking about the vast majority of the population who have grown to rely on the government for everything.  Everyone knows we are broke, yet ask anyone and the odds highly favor you will hear “the government will never let it happen”.  Even if you are silly enough to believe this you must ask yourself, what are the ramifications when markets become “make believe”?
The State is a body of armed men

 

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