Tangible Assets Still Rising
Pablo Picasso’s iconic abstract painting the 1955 “Les femmes d’Alger” artist sold for a record $179,365,000 at an auction Monday in New York, at Christie’s. All our sources behind the curtain are reporting the markets are awash with cash so much so that on the short term paper rates are going negative without the 2009 crisis. Yet that is where we are in the short-term. There is so much cash and not enough short-term paper to be had. Even Russia has been buying back its 30 year dollar denominated debt.
Coins, art, and high end real estate is still rising in prices. The record sale price for the Picasso is illustrating that there is so much cash sloshing around, but it has not found its way yet into the share markets.
Congress Argues They Can Use Insider Info to Trade Personally
In a brief to the courts, Congress argues that it violates the Separation of Powers for the SEC to investigate politicians for using inside information to personally profit in trading. The argument is really nonsense, for that would only apply to prevent an elected official to attend. He cannot be arrested on his way to the Hill to vote.
New York Justice System Exposed
Last night in Munich, lawyers in the audience even debated when the collapse in the US Justice System could happen in Germany. What the film is exposing is very important from a legal perspective. New York is starting to come under pressure because of the film and I bet that there will have to be an investigation. This film is being shown at near blockbuster levels here in Europe and the complete disgust with the New York legal system and how it protects the banks harms the entire world.
Goldman Sachs in its relentless prosecution of Sergey Aleynikov, a former computer programmer who Goldman alleged to have violated Federal law by downloading a small amount of computer code before he left for another job, is further revealing how Goldman Sachs controlled the courts. The FBI and prosecutors as well as the judges in the SDNY, simply do whatever the banks tell them. Aleynikov was lucky to have a fearless attorney, Kevin Marino of Marino, Tortorella & Boyle of Chatham, in New Jersey, who stood his ground against Goldman. Aleynikov spent 51 months in jail before an appellate court unanimously threw out the charges against him. The court found the case against Aleynikov so unfounded that it ordered him released from jail immediately at oral arguments. The written decision, handed down on April 11, 2012, found that the prosecutors had misapplied Federal corporate espionage laws so badly and the judge was effectively so pro-government, there was just no case.
Those in prosecution within the government are truly ruthless. They abuse their power to the point I would never hire anyone who ever worked in such a role. They lost their case against Aleynikov so they call their State counterparts and hand them the same nonsense so he then is charged by New York State and is to stand trial a second time now in the State courts for which he started a defense fund.
Aleynikov’s lawyer Marino filed a lawsuit against the FBI for their investigation was really non-existent. He sums up this conduct of the FBI in the lawsuit as follows:
“The unconstitutional malicious prosecution of Aleynikov was designed not to serve the interests of justice but to curry favor with an influential corporation intent on punishing one of its most talented officers who chose to leave the firm and, in the process, sending a message to other employees and prospective employees that Goldman Sachs is willing and able to use the American criminal justice system as its own private enforcement arm.”
In my own case, Alan Cohen seizes all evidence about market manipulations by the banks and then I believe was rewarded by Goldman Sachs and hired as a board member. Yet he did not resign from the court and continued to be the receiver in court while running Princeton Economics from the boardroom of Goldman Sachs. You cannot make up this stuff.
What is being exposed here is the deplorable control of the justice system by the bankers.New York is not a place you can do business with the banks and expect that there is a rule of law to protect you. They cannot see that rigging the courts converts New York City into a third world country where there is no rule of law and bribery is king. This is one of the final stages that marked the Decline & Fall of the Roman Empire. When there is no rule of law, you cannot do business there.
Dresden
The reception in Europe has been stunning. In Dresden I was even handed flowers. The Q&A went for more than 2 hours after watching the film. The interesting aspect is how outside the United States people are much more aware that there is a huge problem. They tend to not grasp the debt is the problem this time and just using the word “crash” automatically invokes visions of the stock market rather than government. Yet the film is sold out everywhere.
The best way to explain the crisis in the Euro that is tearing Europe apart at the seams is the blunt fact that politicians do not understandCURRENCY. The downfall of lawyers running everything is that they assume if they merely write a law that ends the problem. The Swiss/Euro peg failed precisely because of this attitude. When people think I am an amazing forecaster to have stood up in Berlin and said the peg would go, I merely explain that to the contrary, pegs have NEVER worked even one time no less fixed exchange rates. So just playing the odds would be on my side even if I did not have a computer. This is the downside of lawyers. They assume a law can prevent the free market forces. Sorry – they ALWAYS lose.
Eastern Europe is in turmoil because the bankers sold Swiss loans to everyone as a means to save interest. They failed to advise the people there was a huge currency risk. The Euro Crisis is the very same problem. They created a single currency but failed to consolidate the debts. As the Euro rose from 80 cents to $1.60, just like a borrower in Swiss, they now had to pay twice as much back. That led to the collapse of Southern Europe and then this insane austerity policy only supports the bondholders. Demanding someone pay back twice what they borrowed is going way too far. Even Julius Caesar realized that was unfair and created the Roman Civil War.
The politicians are lawyers so they did not understand currency, and then they created a huge central government in Brussels that is dependent entirely upon the survival of the Euro. They will defend the currency to save their jobs at the expense of the entire European economy. This is wildly insane. If you as someone in Europe what they are, they respond German, French, Dutch etc. They do not respond – European. That symbolizes that the idea of the Euro failed. It did not create the United States of Europe and trying to force that will upon the people is cruel and unusual punishment in addition to unsound economics.
The film the FORECASTER is being shown to sold out audiences everywhere with the exception of the United States and one other place – Switzerland. In the other banking center, London, where curiously the Evening Standard ran an article the day of the opening of the film saying City Bankers Are Worth Every Penny of their Huge Bonuses using my picture yet talking about a head hunter in London named Martin Armstrong, reflects the support of bankers and not the people. Interesting coincidence, but the three places with the most resistance by the press is the USA, London, and Switzerland. That certainly lines up with the main banking centers. And we are supposed to have honest free press? Not sure how they justify this one, but it illustrates the problem. How can we get reform when even the mainstream media endorse the banks and government?
The questions from all the audiences around Europe have been enlightening for it reflects what the sentiment really is out there. It is by no means what we read in the mainstream press. I will be attending sessions in Poland, Spain, Italy, Netherlands, and Romania.
Hillary Should be Careful Using Sincerely to Sign Letters
The popular view of the word “sincerely” has been its possible link to ancient Roman times. The Roman administrators grew tired of the frauds by construction workers and devised a interesting supplement to the civil code. They required that contracts and other important documents would be signed “Sincerely” at the bottom. Sincere is a combination of two Latin words “Sin” meaning without and “cere” meaning wax. So literally signing under something as “sincerely” meant there is no fraud and no wax filler.
In Roman times the state contractors would fill in the cracks in the cement in the aqueducts and vessels that stored things with wax and blend it so it was basically undetectable when being inspected. However, eventually cracks would open back up through the wax and there would be a leak or a catastrophic failure. The state inspectors finally caught on to the scam. So the requirement to sign that there was no fraud or “no filler material made of wax” meant you signed the contract “sincerely”.
Perhaps Hillary should switch to Best Regards, Very Truly Yours, or Have a Nice Day. They would have no legal meaning. Since she is a lawyer, she you be very care about the definition of “sincerely”. To this day it stilll means
- free of deceit, hypocrisy, or falseness; earnest: a sincere apology.
- genuine; real: a sincere effort to improve; a sincere friend.
- pure; unmixed; unadulterated.
- Obsolete. sound; unimpaired.