Eric Fry from The Rude Awakening penned this about Citigroup’s recent SIV accounting shenanigans: SIV Positive.
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Hawaiian K. and The Army Aviator both recommended an alarming piece of commentary on silver storage from Ted Butler: Money for Nothing. My favorite quote from the article: “I found it appalling that Morgan Stanley would claim to store silver that didn’t exist and even have the chutzpah to charge for the storage.” As I’ve often written: there is no safe and sure substitute for in-home storage of precious metals . Any other method–be it shares, or certificates, or “bonded storage”, bank safe deposit boxes, or anyone else–relies on trusting in the honesty and integrity of men and the constance of constitutionally-sound government. And living in these days, we all know about both. Sadly, we live in a wicked, fallen, sinful world.
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In the “There’s No Need for Panic” Department: The Federal Reserve has posted some Foreclosure Resources for Consumers. OBTW, I shoulsd mention: how did they qualify for a “.gov” domain name? The Federal Reserve is a private banking cartel, not a government agency. They are no more “Federal” than either Federal Express or Federal Cartridge Company. If you look in your phone book, you’ll see that the Federal Reserve is correctly listed in the “F” alphabetical section of the White Pages, not in the US Government Agencies section.
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Chester suggested this AP story: Much of U.S. Could See a Water Shortage