“Quackery, crookery, theft,
the weight of crimes with heft.
The cops struck none,
the deeds are done,
with plenty of daring and deft.”
Simple, ain’t it? You’re expected to roll out of the rack, put on the yoke of the wage slave, and head off to the rock pile to crack a few more for the ‘Merican Dream and other fairytales.
In point of fact, starting with out “weight of crimes line,” the degree of stench is quickly catching up to Sodom & Gomorrah to the point where the same outcome, which we all know (at least should, with a little reflection on point) is a description handed down from antiquity of nuclear warfare. Ain’t like humans haven’t ever been here before; morally bankrupt with wars to cover crimes and on it goes. Google “ancient atomic warfare” sometime and read up on the debate.
So to put things in proper (but certain not “right”) perspective, we begin by noticing the PowersThatBe has – according to this report – stashed some $21-trillion dollars in various offshore hidey-holes. Sound like a lot? Well, in the fine print the estimate could be read going as high as…..well, read on:
“There may be as much as $32 trillion of hidden financial assets held offshore by high net worth individuals (HNWIs), according to our report The Price of Offshore Revisited1, which is thought to be the most detailed and rigorous study ever made of financial assets held in offshore financial centres and secrecy structures. We consider these numbers to be conservative. This is only financial wealth and excludes a welter of real estate, yachts and other non-? financial assets owned via offshore structures.“
Which means what? A few highlights of where thinking about this stuff leads:
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The top of the heap in Crookadise have staffed as much financial wealth offshore as the combined total annual economic output of the US, Japan, and several smaller nations, combined.
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In most cases, the money has gone offshore because it is hiding out from taxation.
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And, as the Tax Justice Notes, offshored money causes poverty.
Not that we didn’t know this already, but it is a pisser to hear about it – spoiling what should have been another nice summer weekend.
PFG Worst
Our next line of poetry suggests “The Cops Struck None” and this morning’s note from the bankruptcy referee sent out to PFG Best clients (including Ures truly) is a breakfast plate full of waffle:
“Peregrine Financial Group. Inc. is being liquidated pursuant to subchapter IV of title 11 of the United States Code in the United States Bankruptcy Court for the Northern District of Illinois, Case No. 12-27488 (the “Bankruptcy Case”), and is no longer an operating entity. Please note that this document reflects activity solely as of the date reflected on the statement. Moreover, this document is not a final account statement and is provided to you solely as a courtesy to assist in reconciling your records and should not be deemed an admission or statement of position of the Trustee of Peregrine Financial Group. Inc. regarding the ultimate allowed amount or treatment of your claim in the Bankruptcy Case. “
Attached was an account statement advising me of the amount I could withdraw from my formerly PFG Account: I’m entitled to withdraw a whopping 4.18 percent of my account balance.
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Like others who were screwed in the meltdown of MF Global, this is where a number of the HNWI’s (high net work individuals) scammed the system.
Worse: The National Future’s Association – which takes small introducing brokers through the wringer on a regular basis seems incapable of policing the Big Guys, one of which, in this instance seem to have ripped off $200+ million. Coupled with gross negligence of the CFTC, we’re left beholding a future where imminent financial collapse will be orchestrated over the next few years which will leave the “little people” like us, holding the bag and soured on stocks, so that the surviving insiders will be able to buy up the world at pennies on the dollar and go on with mega rich plan and continue building their breakaway upper-crust civilization.
Well, not quite. I expect a few villagers are sharpening their pitchforks.
Daring and Deft
The deeds are done with plenty of daring and deft, concludes our outlook on poetic injustice this morning. To wit: Aurora.
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Ask yourself, who was the reported dude in the front row who opened the door for the shooter?
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A curious timing mark: When did Ramadan begin?
Any law enforcement efforts that don’t focus on the critical allegations of a co-conspirator are nothing more or less than deceitful efforts to distract the public. People are demanding answers on this one.
If this is claimed to be “terrorism” we may be well-advised to remember this was only six-miles from Denver’s Columbine high school.
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As I reported to Peoplenomics subscribers this weekend, we have a new disease evolving before us and it’s not terrorism per se, it’s the back-channel organized manipulation of public opinion – a Deathidemic – that’s apparently designed for (or arising from) socioeconomic ends, including disarming the public and running an anti-family agenda.
But you know this stuff, if you’ve spent any time thinking about it. Later today the purported perp is off to court.
Oh, and if you try to see the “Gangster Squad” trailer which offered a theater shooting spree scene, the trailer has been pulled off YouTube on “copyright grounds.” I’m not the only one reporting this.
But I will remind you of our often repeated hint from someone near (but not OF) the PTB: The movie is the message. Check. Although it fits too close for comfort with the Deathidemic report.
Fresh Kill
But enough of yesterday’s headlines: let’s step back a bit from the monitor (so you don’t get blood splashed on you) as we rifle through some current deadlines:
Dozens more have been killed as insurgency is picking up in Iraq again. This is ironic (moronic?) since if the US leadership really believed in gun control, they should have implemented it there. Instead, we keep hearing the Obama will sign the UN Gun Grab later this month.
To be sure, there are some Texans who believe the story that the treaty is only about international sales, but like the government claim that a social security card would never become a “national ID card” the fact is that creeping/creepy federalism is the game du jour.
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Meantime, fighting and shelling continue in Syria while both sides claim “progress” is being made. Perhaps, but you want to define that a little closer?
Syria is still promising to use chemical weapons if attacked.
Posse What?
There are reports the USMC has created its first “law enforcement battalions.” gotta wonder if making them available for assignment anywhere in the world includes inside the USofA?
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If you don’t grok the “Posse what?” headline, you need to bone up on the Posse Comitatus Act which, per the great Wikipedia:
“The Navy and Marine Corps are prohibited by a Department of Defense directive (self-regulation), but not by the Act itself.[1][2]“ That is, when it comes to deployment in the USA…lotsa fine print and paranoia here.
SlapDown
Big one coming at the open this morning – the S&P futures were down 16-points earlier and the NASDAQ futures were down 34′ish.
Part of the reason is US treasury yields are continuing to drop, and don’t tell anyone I mentioned this again, but my personal opinion is that could foreshadow a big decline in metals.
Big drag on the markets is also Spain which is beset with more protests and yada, yada. The PTB are running their usual two-pronger here: Talk like it’s going to blow over, and move their money elsewhere, done weeks ago.
Of course, global collapse isn’t on the menu till this fall when the Germans and IMF are likely to pull Greece of life support. But that’s OK since paying banksterish rates on national debt on debt, ain’t exactly gonna end “happy” anyway.
At some point people figure out that interest ( like paper money) is just an abstraction and when they do, little items like food, water, and shelter are all that matter.
It’s a terrible thing when a massive illusion breaks down, particularly when the illusion is of “prospertity.” As it fades to black, we’re treated to almost endless streets of crookery, quakery, and theft.
More after this…
