As I stated in past articles that my real contribution is not writing, especially considering yesterday was the birthday anniversary of Shakespeare, but in ideas. I have one for the EU. Keep in mind that I'm for the gold standard and helping Europe will only cost American jobs, but this is for my pisans who I hear are suffering even more than us due to the global crisis.
Cut It In Half!
As Solomon decided on the fate of the baby, the real mother gave up her interest for love. Today, Europe is suffering the confusion of 17 different governments with all their individual needs with one currency. If we look closer to the economies of Europe, we see two distinct results. The northern sections led by Germany and include Scandinavia and Holland. They have benefited from the euro because it is priced lower than their old currencies. However, the southern nations and I resent the term PIIGS, have lost out on the euro because it cost more than their old currencies. In fact, one of their best economic producers was tourism due to climate and the low value of the old currency. The northern nations wanted the 3% deficit rule to GDP, but today, leaders in the Netherlands are beginning to question that dogma of a rule. Germany's new banking leader, Weidmann stands by it, however elections in Europe could cause the whole thing to collapse since austerity is producing growth only in unemployment. In addition, EU figures show that overall debt has increased throughout Europe since the euro commenced from 83% of GDP to today's 87% of GDP.
Two New Currencies
My idea is simple. The northern nations which are strong exporters start a new currency among themselves, as well as the southern sovereigns. The southern governments can devalue from the euro with a new currency that will be shared among their group. The biggest question is who will join each spear. I feel that the southern half would benefit by having Russia join their currency. The Russian ruble is also a low value currency, but the kicker is Russia is a commodity nation and that would make a great fit to the energy deficient southern half. France would be a good fit too except their ego will get in the way. They should definitely not invite England as they have shown to be untrustworthy and their economic model is collapsing which worries me because we copy everything that Great Britain does. They only have finance and the military just like us.
LIARS and CROOKS: this week goes to the GSA. This government agency was caught robbing the cookie jar. They have held questionable conferences in the past. They go to Napa Valley, Hawaii and other tourist destinations, however their recent trip to Las Vegas tops them all. They managed to spend over $800,000 in a "conference." It is just like last week with the Secret Sevice. These government agencies are all overpaid, underworked and show no responsibility to the public. When their leader, Martha Johnson testified before Congress she stated,"I will mourn the rest of my life the loss of my appointment." She spoke the truth. Where else could you receive the salary that she got, with perks as high as a totem pole and no oversight. Another executive of the GSA, Jeffery knows how to spend and entertain. It is said that the "workers" put on a play with the theme being how to waste money without being caught afterwards. Gotta love it! This is another reason we need a new political party in the US and as always, End the Fed!
Tuesday, April 24, 2012
Sunday, April 15, 2012
F**king CIA and L&C
Secret agents? Ha! They couldn't hold James Bond drink, but then again, the new Bond drinks beer with the label up, so advertising fees get collected. Yep, too much money, little work and inflated egos cost 11 agents to be recalled from Columbia as per an investigation into wild parties with local prostitutes, which implies underworld figures which indicates the drug cartel, especially in that South American nation.
Serving America
and all that other PR crap about government service for the nation's benefit. It's all about money and power. The history of the CIA is littered with doubts, regrets and lies.
History
The agency began with a mandate to counter the communist aggression in the world immediately after WW ll. It was to collect info only and any dangers to the US internally was to be handed over to the FBI. As time moved along the budget got bigger and the role expanded. They had an assassination wing and a human development section.
Chuck Barris and LSD
I never believed the Gong Show host was a hit man for the CIA, however those type of allegations only add to the myth. Sadly, and yet bravely, many former employees have come out to denounce the motives and actions of the agency like Dr. Sidney Gottlieb among others who worked under a program called,"MKULTRA." This is where a human is programmed to perform a certain function like assassination. They used LSD long before Dr. Tim Leary. It is the Manchurian Candidate. These are only surface problems. The Kennedy tragedy provides more info and details every year about this agency which is out of control. In the best case scenario the CIA knew about the terrorist plot, but did nothing to stop it because President Kennedy by this time was against their judgement and ability. He went against their council. He was going to open up negotiations with Castro Cuba and the USSR. Kennedy realized the annihilation of the world
through the Cuban Crisis and the foolish, thoughtless reasoning of the CIA. He was smarter than they wanted in a president. He brokered the Salt Treaty with Russia which limits nuclear weapons. This began a new hope for the world and real peace. In this vision there is no place for the CIA and the military complex.
Two Poisons
In the best light in relation to the Kennedy assassination, the CIA knew about the motives of the anti-Castro group who felt betrayed by the new direction of the administration along with right-wing groups and others. It did nothing to stop them.
This leads to the worst case picture where the CIA actively sought the death of President Kennedy. This agency needs to be terminated and a new one formed that follows the original mandate.
P/S: Forgot to mention the CIA had a "mole" who gave away all our secrets. Once to Russia and again today with China. Secret? Ha! Ding-dong Agency is more like it.
LIARS and CROOKS: Back to Ben and the Fed. The media constantly reminds us that the Fed has a dual mandate, Currency and full employment. As for the first, they do their job poorly. As for the latter, it is pure BS!
During the Depression the Fed actually tightened interest rates and made things worst like more unemployment. In more recent times like 1973 when oil doubled in price and unemployment increased, again they raised interest rates, in fact throughout the 70s, they kept hiking rates all the way to 15%. They could care less about the hardships of the unemployed. They were fighting for fiat currency and against the rise in gold, just like today. End the Fed!
Serving America
and all that other PR crap about government service for the nation's benefit. It's all about money and power. The history of the CIA is littered with doubts, regrets and lies.
History
The agency began with a mandate to counter the communist aggression in the world immediately after WW ll. It was to collect info only and any dangers to the US internally was to be handed over to the FBI. As time moved along the budget got bigger and the role expanded. They had an assassination wing and a human development section.
Chuck Barris and LSD
I never believed the Gong Show host was a hit man for the CIA, however those type of allegations only add to the myth. Sadly, and yet bravely, many former employees have come out to denounce the motives and actions of the agency like Dr. Sidney Gottlieb among others who worked under a program called,"MKULTRA." This is where a human is programmed to perform a certain function like assassination. They used LSD long before Dr. Tim Leary. It is the Manchurian Candidate. These are only surface problems. The Kennedy tragedy provides more info and details every year about this agency which is out of control. In the best case scenario the CIA knew about the terrorist plot, but did nothing to stop it because President Kennedy by this time was against their judgement and ability. He went against their council. He was going to open up negotiations with Castro Cuba and the USSR. Kennedy realized the annihilation of the world
through the Cuban Crisis and the foolish, thoughtless reasoning of the CIA. He was smarter than they wanted in a president. He brokered the Salt Treaty with Russia which limits nuclear weapons. This began a new hope for the world and real peace. In this vision there is no place for the CIA and the military complex.
Two Poisons
In the best light in relation to the Kennedy assassination, the CIA knew about the motives of the anti-Castro group who felt betrayed by the new direction of the administration along with right-wing groups and others. It did nothing to stop them.
This leads to the worst case picture where the CIA actively sought the death of President Kennedy. This agency needs to be terminated and a new one formed that follows the original mandate.
P/S: Forgot to mention the CIA had a "mole" who gave away all our secrets. Once to Russia and again today with China. Secret? Ha! Ding-dong Agency is more like it.
LIARS and CROOKS: Back to Ben and the Fed. The media constantly reminds us that the Fed has a dual mandate, Currency and full employment. As for the first, they do their job poorly. As for the latter, it is pure BS!
During the Depression the Fed actually tightened interest rates and made things worst like more unemployment. In more recent times like 1973 when oil doubled in price and unemployment increased, again they raised interest rates, in fact throughout the 70s, they kept hiking rates all the way to 15%. They could care less about the hardships of the unemployed. They were fighting for fiat currency and against the rise in gold, just like today. End the Fed!
Tuesday, April 3, 2012
Real Reason Why Fed Keeps Low Rates...L&C
When Bernanke speaks of interest rates, he says the Fed keeps rates low to spur jobs and keep liquidity in our economy. This is only a half truth. Interest rates have very little to do with creating jobs. It does foster liquidity by making money cheap, but this really only helps the banking industry. They can buy even cheaper at the discount window, invest risk free in treasuries and beef up their ledgers. To be fair cheap money also helps near-term credit industries or cycle situations, such as the harvest season for farmers or spring fashion for the clothing industry, however those jobs are long gone to foreign ports. Cheap rates also cause the dollar to lose value, especially when the printing press works overtime. This will help with exports, but exports only account for 14% of our economy. Where is the help for the 86% or the rest of us?
By the way the original charter for the Fed only declared that they maintain coin in our economy and that this currency be strong. They added a vague line about related matters. Does related matters include buying Euro bonds to keep the ECM strong so that they can export to us, putting our companies out of business and costing us jobs? Well, that is exactly what the present day Fed does in its daily affairs.
But the Lies First!
The real reason the Fed keeps rates low is so the public and our foreign creditors won't begin to panic about the money that they have lent to our treasury and nation. Gotta give the Fed credit for the way that they have manipulated both our market and the international market to accept a bond that pays only 2% for ten years. C'mon! Ten years ago, gasoline was just approaching $2.00 per gallon. Today, it cost twice as much. What I can't believe is that during this span, the Fed says inflation is less than 2% and they get away with it.
Facts!
The fed has managed to keep rates low so the federal government can pay their bills. This is the bottom line. At 2%, the interest expense for our national debt only grows at $454 billion a year. When you look at the historical interest rate averages, they range from five percent to six percent. Now, each one percent rise adds $88 billion to our debt. It would hit $930 billion a year if rates rose to six percent. When you compare rates today(2%), this is affordable at three percent of GDP, however at six percent, this debt margin jumps to 33% of GDP. Could you pay 33% interest on your wages and still make ends meet? This would be in addition to your living expenses, food, gas, etc. No, of course not! And yet, this is what our nation faces if we don't start to cut expenses, stop wasteful wars and redo our tax code that makes industry worthwhile to do here in the US and at the same time, close the loopholes and collect what corporations owe the government, which in reality is you and me. End the Fed!
LIARS and CROOKS
Another black mark on President Obama's alternative energy record. Another solar company went bankrupt this week. Solar Trust, not only lost with that moniker, but it turns out is a subsidiary of a German company and get this. The company received a $1.5 billion dollar loan from our Department of Energy. So, the jobs act was a lie because this failure was not even an American company.
By the way the original charter for the Fed only declared that they maintain coin in our economy and that this currency be strong. They added a vague line about related matters. Does related matters include buying Euro bonds to keep the ECM strong so that they can export to us, putting our companies out of business and costing us jobs? Well, that is exactly what the present day Fed does in its daily affairs.
But the Lies First!
The real reason the Fed keeps rates low is so the public and our foreign creditors won't begin to panic about the money that they have lent to our treasury and nation. Gotta give the Fed credit for the way that they have manipulated both our market and the international market to accept a bond that pays only 2% for ten years. C'mon! Ten years ago, gasoline was just approaching $2.00 per gallon. Today, it cost twice as much. What I can't believe is that during this span, the Fed says inflation is less than 2% and they get away with it.
Facts!
The fed has managed to keep rates low so the federal government can pay their bills. This is the bottom line. At 2%, the interest expense for our national debt only grows at $454 billion a year. When you look at the historical interest rate averages, they range from five percent to six percent. Now, each one percent rise adds $88 billion to our debt. It would hit $930 billion a year if rates rose to six percent. When you compare rates today(2%), this is affordable at three percent of GDP, however at six percent, this debt margin jumps to 33% of GDP. Could you pay 33% interest on your wages and still make ends meet? This would be in addition to your living expenses, food, gas, etc. No, of course not! And yet, this is what our nation faces if we don't start to cut expenses, stop wasteful wars and redo our tax code that makes industry worthwhile to do here in the US and at the same time, close the loopholes and collect what corporations owe the government, which in reality is you and me. End the Fed!
LIARS and CROOKS
Another black mark on President Obama's alternative energy record. Another solar company went bankrupt this week. Solar Trust, not only lost with that moniker, but it turns out is a subsidiary of a German company and get this. The company received a $1.5 billion dollar loan from our Department of Energy. So, the jobs act was a lie because this failure was not even an American company.
Monday, March 26, 2012
Prediction: Next Crisis from Risk with SPEs&Ds...L&C
Do you know what SPEs are? Companies use them in many creative ways, but mostly to hide debt to allow them to borrow money at low rates. The concept should be banned or at least modified so that the effects to the financial health are known and understood. Even then, because of our human nature we are still prone to take on more risk than we should. Let me digress.
Enron
does that name ring a bell? They specialized in Special Purpose Entities(SPE). They would start a new company under one of their directors and place some assets with it. They would then borrow, say $100 million and immediately move the money to Enron's coffers. Hey, our Federal Government does the same thing. LBJ put the Viet Nam War off the books, as well as recently with G.Bush. This is corruption! ...but don't let me go off the handle because Social Security, Medicare and federal pensions are also unfunded and off the books to the tune of $54 trillion. Man, we are doomed...
In More Ways Than One
Why? Gerald Wilde, a Canadian psychologist tackled the same question in his book, Target Risk. He found that humans have a tendency for lower risks in one area by taking greater risks in another. This is the same problem NASA had with the O-rings on Challenger. Sure they showed wear & tear, but they held. Blast off! This is why I predict that a crisis will arise from SPEs, probably attached to some form of derivative, which by the way has global risk to the sum of over $500 trillion or ten times the value of the entire world. We are so doomed! If there was one place to begin anew and try to a step-by-step approach back to normalcy, I'd say,"END the FED!"
LIARS and CROOKS: See above with debts that are not under liabilities on our book keeping.
Enron
does that name ring a bell? They specialized in Special Purpose Entities(SPE). They would start a new company under one of their directors and place some assets with it. They would then borrow, say $100 million and immediately move the money to Enron's coffers. Hey, our Federal Government does the same thing. LBJ put the Viet Nam War off the books, as well as recently with G.Bush. This is corruption! ...but don't let me go off the handle because Social Security, Medicare and federal pensions are also unfunded and off the books to the tune of $54 trillion. Man, we are doomed...
In More Ways Than One
Why? Gerald Wilde, a Canadian psychologist tackled the same question in his book, Target Risk. He found that humans have a tendency for lower risks in one area by taking greater risks in another. This is the same problem NASA had with the O-rings on Challenger. Sure they showed wear & tear, but they held. Blast off! This is why I predict that a crisis will arise from SPEs, probably attached to some form of derivative, which by the way has global risk to the sum of over $500 trillion or ten times the value of the entire world. We are so doomed! If there was one place to begin anew and try to a step-by-step approach back to normalcy, I'd say,"END the FED!"
LIARS and CROOKS: See above with debts that are not under liabilities on our book keeping.
Monday, March 19, 2012
Free Trade with China? Ha!...L&C
There is a world court case coming soon for American Superconductors(AMSC) versus Sinovel Wind Group, a Chinese company over patent infringement, breach of contract and other sins. The problem for AMSC is will it survive its own legal problems stemming from a shareholder Class Action lawsuit pertaining to its stock and company projections.
One or Two Times
for problems with a companies product is understandable, especially with size. However, anything more is a trend. Chinses companies have had serious problems in the past from poisoned dog food, lead in children toys, pirating of merchandise to fraud of licensing agreements. Keep in mind that China demands any company doing business in China to be declared a Chinese company. So, Apple, Ford, Sony, Mercedes, whoever doesn't matter because once they open in China, China says they're Chinese.
Google Warning
Google pulled its operations out of the Chinese mainland due to this clause because China wanted the blueprint code of Google, which and I agree with, Google didn't provide or give in to these demands.
This takes us, dear reader to the latest case involving a Chinese company.
Sinovel Wind Group
Utilizes the technical smarts and products of AMSC. However, they being in China and AMSC being in the US makes the saying,"when the cat is away, the mice will play." Sinovel CEO had the brains of AMSC parts disected and he formed his own Chinese company to copy and duplicate AMSC expertise. He cancelled the remaining orders to the AMSC contract and thus the stock retreated, causing the Class Action suit. One thing leads to another.
End Trade With China
until it straightens out and acts honorably. Do you know the free trade lie about everything including this aspect of the so-called free trade global community? The average tariff in China on American companies is 25%. These people are crooks! They steal everything! They have more middle class citizens than we have citizens. Protectionism now!
LIARS and CROOKS: This week goes to Helicopter Ben whose aka is "Slicky Ben." He made the banks do a stress test under serious conditions, however the rules were changed which made for results that Ben knew he would receive which is providing the stock market with continued gains. This deception is brillant!
Know the Final
before the game is over. You see with the changes to good part bank/bad bank, market-to-market pricing and what is an asset and what is a liability have all been rewritten to cover the banking industries weakness. If this same test was giving just twenty years ago, ninety percent of the banks would have failed! END THE FED!
One or Two Times
for problems with a companies product is understandable, especially with size. However, anything more is a trend. Chinses companies have had serious problems in the past from poisoned dog food, lead in children toys, pirating of merchandise to fraud of licensing agreements. Keep in mind that China demands any company doing business in China to be declared a Chinese company. So, Apple, Ford, Sony, Mercedes, whoever doesn't matter because once they open in China, China says they're Chinese.
Google Warning
Google pulled its operations out of the Chinese mainland due to this clause because China wanted the blueprint code of Google, which and I agree with, Google didn't provide or give in to these demands.
This takes us, dear reader to the latest case involving a Chinese company.
Sinovel Wind Group
Utilizes the technical smarts and products of AMSC. However, they being in China and AMSC being in the US makes the saying,"when the cat is away, the mice will play." Sinovel CEO had the brains of AMSC parts disected and he formed his own Chinese company to copy and duplicate AMSC expertise. He cancelled the remaining orders to the AMSC contract and thus the stock retreated, causing the Class Action suit. One thing leads to another.
End Trade With China
until it straightens out and acts honorably. Do you know the free trade lie about everything including this aspect of the so-called free trade global community? The average tariff in China on American companies is 25%. These people are crooks! They steal everything! They have more middle class citizens than we have citizens. Protectionism now!
LIARS and CROOKS: This week goes to Helicopter Ben whose aka is "Slicky Ben." He made the banks do a stress test under serious conditions, however the rules were changed which made for results that Ben knew he would receive which is providing the stock market with continued gains. This deception is brillant!
Know the Final
before the game is over. You see with the changes to good part bank/bad bank, market-to-market pricing and what is an asset and what is a liability have all been rewritten to cover the banking industries weakness. If this same test was giving just twenty years ago, ninety percent of the banks would have failed! END THE FED!
Sunday, March 11, 2012
Baked Apple, Nokia Toast, Dim-Rim Outlook...L&C
With Apple going over $500. per share and pundits looking for $600., $700., even $1000. per share, I decided to give Apple and its competition a closer look.
Who Is Buying?
Samsung has a goal for 2012 to sell over 380 million smart phones after selling 327 million in 2011. Very impressive! They are not alone in trying to capture a market where Apple holds almost 50% of the action. Some other names include LG,Sony, Huawei, View Sonic, ZTE, Nokia, Rimm and Motorola Mobility(Google). All these companies sell by the millions in product. Now, the world population is 6 billion, however half of the world is too poor to purchase a smart phones which cuts the potential market to 3 billion. If you just add the volume of Samsung alone, you reach one billion sold and keep in mind Apple is the market leader. I conclude that this market is saturated and a shakeout will ensue.
Apple
If you look at Apple, they also dominate the tablet or IPad market, to which the same numbers reach the same conclusion, Who is left to buy? It seems no one pays attention to PCs because the market is saturated and this is where Apple started. The market is dead weight and the phones business is next in line.
Selling
This reminds me of when I was a kid. I brought albums, however the 8-track came along to change buying habits. This was soon followed with cassettes which were replaced with CDs. You see a pattern here. IPad 1, then IPad 11, then 111 and now FOUR! Suckers are born every minute to quote the selling game. Prediction: Apple will sell for less than $100. per share by 2020.
LIARS and CROOKS: Some people like me try to remind the public that one of the principles that our Founding Fathers agreed upon was the idea for our nation not to get involved in international politics which generally leads to conflict and war which causes financial ruin which definitely does not promote the general welfare.
Military Industrial Complex
...try to convince the public of dangers that sometimes do not exist and they are only looking out for self gain like Lockheed Martin. They do not have a conscious for our lost treasure, financial debt and declining standard of living. They have pushed our national agenda towards one negative situation after another: Nam, Grenada, El Salvador, Irag and Afghanistan. They now express danger with Iran, Syria, Yemen, assorted African nations and elsewhere around the globe.
Lockheed Martin receives $40 billion in annual revenues. It is the largest recipient of US tax dollars. It adds up to about $260 from each household in our nation. They are "too big to fail" and an anchor on our national debt.
This is a company with a checkered past with poor quality and over-runs on projects that never live up to the hype. It maintains power with $15 million in lobbying and campaign contributions.
It also funds right-wing think tanks which adds to the confusion in our public thinking on defense. They sell danger behind everything foreign. Lockheed Martin especially likes these groups to express ideas that if they put them out, people would see through the transparency for self gain. It is that obvious.
Who Is Buying?
Samsung has a goal for 2012 to sell over 380 million smart phones after selling 327 million in 2011. Very impressive! They are not alone in trying to capture a market where Apple holds almost 50% of the action. Some other names include LG,Sony, Huawei, View Sonic, ZTE, Nokia, Rimm and Motorola Mobility(Google). All these companies sell by the millions in product. Now, the world population is 6 billion, however half of the world is too poor to purchase a smart phones which cuts the potential market to 3 billion. If you just add the volume of Samsung alone, you reach one billion sold and keep in mind Apple is the market leader. I conclude that this market is saturated and a shakeout will ensue.
Apple
If you look at Apple, they also dominate the tablet or IPad market, to which the same numbers reach the same conclusion, Who is left to buy? It seems no one pays attention to PCs because the market is saturated and this is where Apple started. The market is dead weight and the phones business is next in line.
Selling
This reminds me of when I was a kid. I brought albums, however the 8-track came along to change buying habits. This was soon followed with cassettes which were replaced with CDs. You see a pattern here. IPad 1, then IPad 11, then 111 and now FOUR! Suckers are born every minute to quote the selling game. Prediction: Apple will sell for less than $100. per share by 2020.
LIARS and CROOKS: Some people like me try to remind the public that one of the principles that our Founding Fathers agreed upon was the idea for our nation not to get involved in international politics which generally leads to conflict and war which causes financial ruin which definitely does not promote the general welfare.
Military Industrial Complex
...try to convince the public of dangers that sometimes do not exist and they are only looking out for self gain like Lockheed Martin. They do not have a conscious for our lost treasure, financial debt and declining standard of living. They have pushed our national agenda towards one negative situation after another: Nam, Grenada, El Salvador, Irag and Afghanistan. They now express danger with Iran, Syria, Yemen, assorted African nations and elsewhere around the globe.
Lockheed Martin receives $40 billion in annual revenues. It is the largest recipient of US tax dollars. It adds up to about $260 from each household in our nation. They are "too big to fail" and an anchor on our national debt.
This is a company with a checkered past with poor quality and over-runs on projects that never live up to the hype. It maintains power with $15 million in lobbying and campaign contributions.
It also funds right-wing think tanks which adds to the confusion in our public thinking on defense. They sell danger behind everything foreign. Lockheed Martin especially likes these groups to express ideas that if they put them out, people would see through the transparency for self gain. It is that obvious.
Sunday, March 4, 2012
Human Nature Says: Putin, Obama Again!...L&C
There is something in our human nature that works like the Rings of Saturn regarding change. You can read all the self-help books you want, but until you can defeat the "I Can't Syndrome" within your self, you won't. This plays for big gains by incumbents in politics. As much as we dread the present people in political power, our subconscious fears the unknown even more. We will rationalize until we see for some poor reasoning to vote the incumbent over someone who we might think would be the better candidate. For example, Ron Paul. He would cut back on the military. Yes, we like. He would strive to return to the gold standard with a strong dollar. Yes, again! We like. He would cut the deficit. Yes, again! We like, but we vote Obama because Paul won't win(I Can't Syn.). It could be any candidate, but the bottom line our weak nature will continue the status quo whether Putin, Obama, or the idiot in Iran. Too bad for all of us who are more positive and think more clearly. Prediction: Putin and Obama.
LIARS and CROOKS: This week goes to President Obama and all the Republican candidates who discussed the issue of rising oil prices. They all claim the tensions over Iran which is true or speculation which also adds to the cost, but even together is not the real problem. Iran and speculation are temporary. The real danger is our oil companies closed three oil refineries and remember there has not been one new refinery built in over twenty years. There is a new dangerous "oil spread" developing between WTI(American oil) and Brent(European oil). Oil in Europe is already over $125. per barrel. The East coast refineries could not stay in business with those prices, especially when in the Mid-West it was $20. cheaper. This is the source of the problem and even worse. It is forecasting what we would have to pay for gasoline if the dollar ever lost its reserve status. DANGER! End the Fed!
LIARS and CROOKS: This week goes to President Obama and all the Republican candidates who discussed the issue of rising oil prices. They all claim the tensions over Iran which is true or speculation which also adds to the cost, but even together is not the real problem. Iran and speculation are temporary. The real danger is our oil companies closed three oil refineries and remember there has not been one new refinery built in over twenty years. There is a new dangerous "oil spread" developing between WTI(American oil) and Brent(European oil). Oil in Europe is already over $125. per barrel. The East coast refineries could not stay in business with those prices, especially when in the Mid-West it was $20. cheaper. This is the source of the problem and even worse. It is forecasting what we would have to pay for gasoline if the dollar ever lost its reserve status. DANGER! End the Fed!
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