Posts Tagged ‘scam’

The Con of the Decade Part I

The Con of the Decade Part I 

Courtesy of Charles Hugh Smith Of Two Minds 

The con of the decade (Part I) involves the transfer of private debt to the public (the marks), who then pays interest forever to the con artists.

I’ve laid out the Con of the Decade (Part I) in outline form:

1. Enable trillions of dollars in mortgages guaranteed to default by packaging unlimited quantities of them into mortgage-backed securities (MBS), creating umlimited demand for fraudulently originated loans.

2. Sell these MBS as "safe" to credulous investors, institutions, town councils in Norway, etc., i.e. "the bezzle" on a global scale.

3. Make huge "side bets" against these doomed mortgages so when they default then the short-side bets generate billions in profits.

4. Leverage each $1 of actual capital into $100 of high-risk bets.

5. Hide the utterly fraudulent bets offshore and/or off-balance sheet (not that the regulators you had muzzled would have noticed anyway).

6. When the longside bets go bad, transfer hundreds of billions of dollars in Federal guarantees, bailouts and backstops into the private hands which made the risky bets, either via direct payments or via proxies like AIG. Enable these private Power Elites to borrow hundreds of billions more from the Treasury/Fed at zero interest.

7. Deposit these funds at the Federal Reserve, where they earn 3-4%. Reap billions in guaranteed income by borrowing Federal money for free and getting paid interest by the Fed.

8. As profits pile up, start buying boatloads of short-term U.S. Treasuries. Now the taxpayers who absorbed the trillions in private losses and who transferred trillions in subsidies, backstops, guarantees, bailouts and loans to private banks and corporations, are now paying interest on the Treasuries their own money purchased for the banks/corporations.

9. Slowly acquire trillions of dollars in Treasuries--not difficult to do as the Federal government is borrowing $1.5 trillion a year.

10. Stop buying Treasuries and dump a boatload onto the market, forcing interest rates to rise as supply of new T-Bills exceeds demand (at least temporarily). Repeat as necessary to double and then triple interest rates paid on Treasuries.

11. Buy hundreds of billions in long-term Treasuries at high rates of interest. As interest rates rise, interest payments dwarf all other Federal spending, forcing extreme cuts in all other government spending.

12. Enjoy the hundreds of billions of…
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The Global Warming Religion – A Modern Day Crusade: Do You select The Cause or Does the Cause Select You?

This is another must-read post by Mish on science vs. propaganda. Unfortunately it seems that propaganda trumps science, at least long enough to cause immense damage. - Ilene

The Global Warming Religion – A Modern Day Crusade: Do You select The Cause or Does the Cause Select You?

Courtesy of Mish

I received a lot of emails in response to Beware The Ice Age Cometh: Hackers Prove Global Warming Is A Scam

Many were from religious zealots of global warming theory, and as you might surmise they were not printable.

A few common sense comments came my way suggesting that the hackers or insiders (I believe the latter) did not prove global warming was a scam, only that that there is proof scammers are involved in global warming.

I have to admit that is true. Apologies offered. That admission aside, even more damning data has surfaced in regards to data manipulation.

The site Watts Up With That? has this interview with Dr. Tim Ball

It seems Dr. Tim Ball was aware of the data manipulation but could not prove it. Here is a partial transcript but I assure you the video is worth listening to entirely.

"[The Emails] confirm suspicions that I have had in 30 years of working in climate science that I saw the hijacking of climate science particularly by computer modelers and then by a small group of people associated with the intergovernmental panel on climate change. The difficulty was that even though I sensed there was these thing going on, proving it is extremely difficult. But now with the exposure of these public files it is not only a smoking gun, it’s a battery of machine guns. … On A global scale it’s frightening. This group of people not only controlled the Hadley Center which controls the global data on temperatures, so that the global temperature record is in their hands, they also control the IPCC. … The IPCC is the basis in all governments for the Kyoto Protocol, the Copenhagen Accord, and so on. ….. The problem they had is they kept saying the 20th century and the latter part of it is the warmest ever. And of course skeptics like myself [and several other names] were saying it was warmer 1000 years ago when the Vikings were in Iceland and Greenland and that’s


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Beware The Ice Age Cometh: Hackers Prove Global Warming Is A Scam

Beware The Ice Age Cometh: Hackers Prove Global Warming Is A Scam

ice ageCourtesy of Mish

It’s now official. Much of the hype about global warming is nothing but a complete scam.

Thanks to hackers (or an insider) who broke into The University of East Anglia’s Climatic Research Unit (CRU) and downloaded 156 megaybytes of data including extremely damaging emails, we now know that data supporting the global warming thesis was completely fabricated.

Inquiring minds are reading Hacked: Hadley CRU FOI2009 Files on The Reference Frame by Luboš Motl, a physicist from the Czech Republic.

The University of East Anglia’s Climatic Research Unit (CRU), usually working together with the Hadley center (recall HadCRUT3 global temperatures), has been hacked.

So far, the most interesting file I found in the "documents" directory is pdj_grant_since1990.xls (Google preview, click) which shows that since 1990, Phil Jones has collected staggering 13.7 million British pounds ($22.6 million) in grants.

Phil Jones, the main criminal according to this correspondence, has personally confirmed that the website was hacked and that the documents are authentic. See Briefing Room.

He says that he "can’t remember" what he meant by "hiding the decline." Well, let me teach him some English. First, dictionaries say that hide means

1. to conceal from sight; prevent from being seen or discovered: Where did she hide her jewels?
2. to obstruct the view of; cover up: The sun was hidden by the clouds.
3. to conceal from knowledge or exposure; keep secret: to hide one’s feelings.
4. to conceal oneself; lie concealed: He hid in the closet.
5. British. a place of concealment for hunting or observing wildlife; hunting blind.
6. hide out, to go into or remain in hiding: After breaking out of jail, he hid out in a deserted farmhouse.

Here Are A Few Choice Emails

From: Phil Jones
To: ray bradley ,mann@virginia.edu, mhughes@ltrr.arizona.edu
Subject: Diagram for WMO Statement
Date: Tue, 16 Nov 1999 13:31:15 +0000
Cc: k.briffa@uea.ac.uk,t.osborn@uea.ac.uk

Dear Ray, Mike and Malcolm,
Once Tim’s got a diagram here we’ll send that either later today or first thing tomorrow. I’ve just completed Mike’s Nature trick of adding in the real temps to each series for the last 20 years (ie from 1981 onwards) amd from


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ValueWalk

Senate approves $1.9T bill, but changes coronavirus stimulus checks eligibility

By Aman Jain. Originally published at ValueWalk.

Democrats moved one step closer on Saturday to pass the next coronavirus relief package. On Saturday, the Senate approved the massive stimulus package, but with several amendments. One of the amendments was related to the eligibility for the $1,400 coronavirus stimulus checks.

Q4 2020 hedge fund letters, conferences and more

Senate makes three crucial changes to relief package

On Saturday, the Senate made several changes to the relief package legislation. There were, however, three notable c...



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Zero Hedge

CDC Says "Fully Vaccinated" People Can Stop Wearing Masks, Distancing In Private

Courtesy of ZeroHedge View original post here.

Update (1100ET): As federal health officials including Dr. Fauci chide states for easing COVID restrictions, the CDC has just released new guidelines proclaiming that fully vaccinated people can spend time together indoors without masks or social-distancing.

The CDC's highly anticipated report cites early evidence suggesting vaccinated people are less likely to have asymptomatic infections, and are less likely to transmit the virus to other people.

For the record, according to the CDC ...



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Phil's Favorites

Senate Banking Committee Sets GameStop Hearing for Tuesday; Koch Money Pops Up Again

Courtesy of Pam Martens

Andrew Vollmer, Senior Affiliated Scholar, Mercatus Center

We’re starting to see a pattern. When the House Financial Services Committee held its February 18 hearing on the wild, manipulative trading patterns in shares of GameStop, a right-wing front group funded with Koch money sent a surprise witness to testify. The front group was the Cato Institute, which was ...



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Kimble Charting Solutions

China Creates Back To Back Bearish Patterns At 6-Year Resistance!

Courtesy of Chris Kimble

Could China be sending an important message to stocks around the world? Very possible!

This chart looks at the Shangai Index on a monthly basis since the early 2000s.

The index has peaked twice in the past 6-yeas at its 50% Fibonacci retracement level. These peaks took place in 2015 and 2017 and were followed by declines of at least 25%.

The past two months it has tested this 6-year resistance line/50% Fibonacci level, where it created back-to-back monthly bearish reversal patterns.

If the index closes much below risi...



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Chart School

Who is King? The Bond Market or the FED

Courtesy of Read the Ticker

The King Arthur story is battle between a false KING and the true KING. Generally the movie involves surprises, love and violence, and all this coming to the risk on markets very soon. 

The financial blog space expects the FED to do some sort of Yield Curve Control (YCC) to hold interest rates down while inflation moves higher, this is allowing inflation to run hot. The FED wishes to do this over time to deflate the debt away. Very similar to the 1940's post WW2, yields were pegged to 2% and risk on assets went sky high.

However Peter Boockvar suggest the FED may soon learn it is not in control and the true king of the markets is the BOND MARKET. Peter says simply the bond market is telling the FED to bite me!

The FED is not us...

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Biotech/COVID-19

88% Of COVID Deaths Occurred In Countries Where Over Half Of Population Overweight

Courtesy of ZeroHedge View original post here.

A new report by the World Obesity Federation found that 88% of deaths in the first year of the pandemic occurred in countries where over half of the population is classified as overweight - which is defined as having a body mass index (BMI) above 25. Of note, BMI values above 30 - considered obese - are associated with 'particularly severe outcomes,' accor...



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Politics

Why repressive Saudi Arabia remains a US ally

 

Why repressive Saudi Arabia remains a US ally

A demonstrator dressed as Saudi Arabian Crown Prince Mohammed bin Salman with blood on his hands protests outside the Saudi Embassy in Washington, D.C., on Oct. 8, 2018. Jim Watson/AFP via Getty Images

Courtesy of Jeffrey Fields, USC Dornsife College of Letters, Arts and Sciences

Saudi Crown Prince Mohammad bin Salman “approved an operation … to capture or kill Saudi journalist Jamal Khashoggi,” according to a...



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Mapping The Market

Which Governments Ordered Johnson & Johnson's Vaccine?

 

Which Governments Ordered Johnson & Johnson's Vaccine?

Courtesy of Niall McCarthy, Statista

On Wednesday, U.S. regulators announced that Johnson & Johnson's Covid-19 vaccine being developed by its subsidiary Janssen Pharmaceuticals in Belgium is effective at preventing moderate to severe cases of the disease. The jab has been deemed safe with 66 percent efficacy and the FDA is likely to approve it for use in the U.S. within days.

The Ad26.COV2.S vaccine can be stored for up to three months in a refrigerator and requires a single shot, ...



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Digital Currencies

Crypto - It Is Different This Time

 

Crypto – It Is Different This Time

Courtesy of Howard Lindzon

?I have been astonished as you know by the growth of crypto.

I remember back in 2017 when I noticed that Stocktwits message volume on Bitcoin ($BTC.X) surpassed that of $SPY. I knew Bitcoin was here to stay and Bitcoin went on to $19,000 before heading into its bear market.

Today Bitcoin is near $50,000.

Back in November of 2020, something new started to happen on Stocktwits with respect to crypto.

After the close on Friday until the open of the futures on Sunday, all Stocktwits trending tickers turned crypto. The weekend messages on Stocktwits have increased 400 percent.

That has continued each weekend...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. Contact Ilene to learn about our affiliate and content sharing programs.