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I have seen so
much outrageous idiotic stuff by politicians the past few years I am thinking
I am mind-numbed to both the process and what these lunatics are saying.
However, this past week, as we all returned from the Labor Day Holiday, a new
and wild waterfall of insanity has appeared. I’m prone to not get
super-excited but as I write today, I am beyond hot under the collar.
Let’s look at some examples to see where things go next, especially in
bond markets.
The American
president just returned from his extended monthly vacation (he works
part-time) to go politicking on behalf of his socialist compadres flailing at
George Bush for his own messes-problems. He’s finally decided to
address reality and that he just might have to cut taxes somehow and throw a
bone to the Sheeple. Answer-Toss another $50 Billion in the debt fire.
Meanwhile, the smarter Dems who hope to be re-elected, are pretending BO does
not exist. What is really cool is not one Dem is running on passage of the
new health care plan. How proud are they of this monetary monstrosity?
Christine Roamer
who had previously been teaching Politburo Economics at that communist
educational center in California decided she has had enough of White House
economic-policy-play-acting for BO, also known as “The Kid,”our
president. Christine is returning to her home turf to get busy once again
twisting the minds of college kids on the now delicate topic of pseudo
capitalism. A lot less heat-push back is generated in the classroom and of
course no accountability is required. Ain’t tenure a grand scheme?
Rham Emanuel,
BO’s sidekick and our real president of the United States sees the
hand-writing on the wall nationally and internationally and plans on
returning to Chicago to be mayor. This is the homeland of Al Capone, John
Dillinger, Bugs Moran and Mayor Daly (Junior) retiring at age 68, after a
long career of scooping-up who knows what following in the footsteps of his
Daddy, the late El Supremo election-fixer. Some might consider Ol’
Rham’s new job as a come-down, but when your current office is burning
down around your ears cause you screwed it up big time, its time to find a
new building to burn. That would be the Chicago City Hall.
Bobby Gibbs,
BO’s Minister of Propaganda, had his hands full again trying to explain
away the disasters de jour of this past week. His pathetic cover-up is so
laughable, the outside media and White House press no longer pay much
attention nor take him seriously as they must write something plausible lest
they appear as stupid and crooked as this administration and of course Bobby
the G.
Our Secretary of
State Hillary was busy this week being a referee at the latest Middle East
talks as this entire gang’s been priming, preening, and spewing the
usual nonsense while both sides were shooting at each other in the middle of
their let’s pretend peace talks. Hillary took a verbal shot at
BO’s policies, which Fox News tried to explain last Wednesday evening.
She is gearing-up to be The Kids’ opponent (2012) after the next crash
and burn election this fall. The gist of the Hillary-Fox report intimated
BO’s wild spending puts the USA in mortal danger. We all knew that long
ago.
Goldman Sachs,
that Wall Street bank onto itself is on its third or fourth lawsuit
settlement for being naughty. Of course no one goes to jail they just keep paying
the hundreds of millions in fines with taxpayer funds they stole through the
back door via AIG. Their alleged hot news this past Thursday morning is who
will be the buyer of their proprietary trading desk the SEC says they must
sell. In reality, they are dumping it for window dressing as this derivative
gang cannot stand the light of day any longer in America as things are
getting too hot, shall we say with the badge boyz. They are happy with this
as now they’ll sell this division and scoop-up big cash, as those
traders posted 10% of GS’s annual earnings. And next, this whole
criminal trading enterprise moves to Asia and Europe where there are few, or
no controls, or rules so they can do it all over again. Ya gotta love how
those guys and gals operate. Watch for a new GS Prop Desk Scam to open in
Hong Kong. Singapore would put them in jail.
Meanwhile, some
of the larger hedge fund owner-managers have decided the impending global
markets’ explosion is forth-coming. After pondering this concern, three
of trading’s biggest of the big billionaire boys within the last few
weeks have decided its time to take the money and run. They are
“retiring to be with the family,” and are leaving the business as
pressures seem just too much. Most probably, they wouldn’t even
recognize their own families. Reality says the multiple economic bombs
going-off in derivative and credit land might conceivably evaporate their
funds’ capital in only hours or days. This is enough to instill naked
fear into the toughest of the tough. It’s much easier to close the
fund, pay the taxes and get aboard their personal Queen Mary yachts sailing
for someplace where they can’t be found for awhile-preferably a place
with no extradition rules.
The vertically
challenged little shrimp in his elevator shoes from North Korea is now
begging South Korea for rice to feed his starving nation. This after he
attacked and killed South Korean sailors. This little twink has more nerve
than Lloyd Blankfein in New York City at Goldman Sacks er, Sachs. Remember Lloyd?
He said he told us he was on a mission from God while doing Goldman’s
work.
We really got a
kick out of Nevada’s Harry Reid on Fox News last week telling a
reporter he is not in any way responsible for Greater Depression II, wild
national debts, the housing debacle or any political fallout from his
legislative steam-roller tactics during and before BO’s administration.
Is Ol’ Harry asking us Sheeple to believe he’s been absent in
Congress the past few years? Oh, pleeeze.
While this news
is a few days old we must point out that some fool in the administration
asked the United Nations to rebuke Arizona for their stance on immigration as
they try to protect their citizens from criminals on the Mexican border. Does
anyone give a rip what the UN says? We sure don’t as UN Organized Crime
is induced by the money-let’s-get-more-power-boys. Those are the
invisible banker instigators continuously promoting a string of schemes like
global warming, cap n trade, and free health care for all. You could include
most any UN program, the IMF, World Bank, The Federal Reserve and many US
Government agencies. These are all specifically designed to address
phony, man-made disasters, put in place for power, money and grand theft
garnering Sheeple votes.
Here’s the
good news: The global bankers who stole the taxpayer TARP funds
via a big fat check from Henry Paulson, our formerly esteemed Treasury
Secretary are going to get nailed with the money they stole. How does this
work? They took the TARP cash and bought US government bonds for the steady
and guaranteed returns. This way they don’t have to make loans but
merely sit on their fat you know whats and collect the vigorish.
Now however, all
that bond paper they are holding to scam the interest and remain banker
solvent is going to go bad with a whoosh. Not just sink a little in value but
totally implode. Paybacks can be remarkable. China has had
enough and sold-dumped 11% of their toxic US paper and bought similar stuff
from Japan, Korea, Taiwan and others. Their objective was to escape a, shall
we say, rapid decline in valuations. More selling is scheduled.
So now the
Federal Reserve crowd and New York global banksters will be holding capital
that turns to zero-as in wiped out. Do you really
think there will be buyers for bonds when the credit and bond markets crash?
This is going to be breath-taking indeed. You don’t even have to buy
tickets. This is going to be the super bowl of all crashes. The national
bonds of Greece and their neighbors crash first; then those in junk bond land
follow.
Sorry, but it
couldn’t happen to a nicer bunch of fellas. Well, Benny and Timmy
“The Weasel” over at Treasury will surely concoct another credit
scheme to prop-up the mess but we see no takers for any new paper once the
game unravels. Criminal media has trained and fooled the Sheeple for years.
However, too many are beginning to catch-on to the scam. When the media
barnyard material hits the oscillator, its torches and pitchforks or worse.
Bonds charts last week on the 30’s and yield chart signal imminent
disaster.
If you study the
weekly 30-year bond chart and review trading action in the December bond
futures, Mr. Market is telling us this game has more than a tummy ache.
It’s got food poisoning. Watch to see the next moves by Benny and
Timmy. We think Benny just walks away and heads back to Princeton secured by
his tenure. Timmy the G has never had a real job and will have no where to
go. Further, this guy does not have the stomach for this nasty work when the lifting
gets really heavy. He might just throw in the towel and jump off the
Washington Monument. Please understand readers, that other political parties
do not have clean hands on a lot of this stuff either. Politics in America
with few exceptions has sunk to new lows. We see no relief nor changes in the
near future to make things better.
In the aftermath
of whatever happens and however this all turns out, we suspect our political
population just might be a tad smaller. Shall we say slightly reduced by the
wrath of voters and and exposure to a multitude of massive frauds against the
American people? We could care less what happens to this passel of fools. Our
primary concern is the liberty and freedom of the United States of America
and its future. We just hope to God we can hang on and hopefully stay out of
a world war. Economies can be fixed. Loss of Liberty can be permanent. Our
only out remains in the purchase and holding of precious metals.
Investors and
Traders Must Continue To Buy Gold And Silver.
We Are Entering
The Very Long View Phase Two Rally For Precious
Metals.
Gold averaged
roughly +15% per year for nearly a decade. The last twelve months we saw this
more than double. Silver was stuck at $5 for years. Now it’s pushing on
$20. This next Phase Two will be a delight. Stay in the market somehow
whether you are trading or investing or both. Do not miss what’s coming
next. Our December futures gold forecast is $1,325-$1,375. Silver goes to
$25-$26 and should be followed by $30.18.
Gold could
over-run $1,325-$1,375 this fall and move higher to $1,450-$1,550 on wild
markets. Silver has been rallying even faster than gold of late.
$20
is hard resistance soon to be broken.
Note old silver
high resistance in 1980-1981 when price touched $25. That’s coming next
on a breakout. The US Dollar and American standard of living might be cut in
half over the next few years.
Now, more than
ever, it is important to take the immediate necessary precautions to protect
yourself and your families and friends. Traders and investors should be
buying precious metals and select shares right now. In our newsletter
we have a great list of trading and investing ideas for you. Meanwhile, you
can never go wrong buying physical precious metals and holding them for
security. We’ve had a constant run of nearly ten years in gold rising
15% per year so this remains a good trade. In the last twelve months, gold
rallied over 34% and is going ever faster.
It’s not
going to stop any time soon. In fact, we predict those annual percentages
will rise even more and this offers a chance, arriving only once in 25 years
on the historical cycles.
Roger Wiegand
www.webeatthestreet.com
Roger
Wiegand is Editor of Trader
Tracks Newsletter and of
the Rog Blog at www.webeatthestreet.com.
Roger provides recommendations for short and longer term trading using
stocks, futures and commodities with specifics.
Contact Claudio Bassi, at Trader
Track’s New York City publishing offices for a trial subscription. Call 718-457-1426 Monday
through Friday,
9:30am to 5pm or, e-mail cbassi@miningstocks.com
Recommendations
made in “Trader Tracks” are exclusively those of Roger Wiegand and
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