It has kept me going.
Enjoy the evening.
Work begins again.
It has kept me going.
Enjoy the evening.
Work begins again.
A poignant entry by Selco of life during wartime.
Read it all, and savor these moments of peace.
They are fleeting.
Re this post:
This is NOT a centrally-controlled propaganda campaign.
The operational intent is for each person ready, willing, and able to do something to do just that.
Make ‘em into handbills. Give ‘em out at church, at school athletic events, at the local farmers’ market.
Make ‘em better and get them published in the local Woodpile-Fornicator or whatever your local paper is called.
If someone wants to take the concepts and gin up a 10 minute talk for delivery anywhere you can get an audience, do so.
Go get ‘em.
From Ann Barnhardt:
ON CASCADING COUNTERPARTY RISK & ECONOMIC TREASON
POSTED BY ANN BARNHARDT – DECEMBER 30, AD 2011 9:22 AM MST
I’m out of pocket for a few days, but K.D. over at Market-Ticker.org ran THIS PIECE on Wednesday, and I just wanted to chime in and expand the concept at bit.
First, I absolutely, totally, completely and 105% confirm that the futures markets are withering and dying on the vine AS WE SPEAK. I’m hearing for every single one of my contacts, both floor guys (in both Chicago and NY) and introducing brokers (as I used to be) all over the country, that business is totally evaporating. And we’re not talking the normal Christmas season slowdown. No. We’re talking people explicitly stating that they are done trading and hedging with futures, both speculators and hedgers. It’s over.
No mas. See you later, Alligator. Buh-bye.
This was going on to some extent before the MF Global rape/theft. The markets had grown thinner and thinner, ironically on more net volume, but the volume increases were due to the veritable fungal infection of the market that is the high frequency algorithm trading systems. Furthermore, any short hedger with a brain in their head over the last 18 months has known that short hedging in an inflationary environment is and would be needless suicide. Why IN THE WORLD would you SHORT an inflating market? If Mrs. Reggie Love is printing money a trillion at a pop, and I think Mrs. Love’s debasement will be at $8.5 TRILLION in a few weeks after the debt ceiling is raised yet again, isn’t it obvious that currency debasement is happening and that physical commodity prices are going to necessarily inflate?
At this point, anyone who actually believes any statistics that come out of the federal government or the Federal Reserve (there’s no inflation!) has got to be mentally disabled.
Literally. Mentally disabled.
But I want address another issue that I don’t think many people are aware of yet. I taught one of my Level 2 Cornerstone Cattle Marketing schools a couple of weeks ago and we talked at length about cascading counterparty risk. Not only are producers not using the futures themselves, but they are also VERY keenly aware of the fact that if they enter into a private treaty forward delivery contract with a grain elevator or a feedlot, that they would STILL be exposed to the futures market, and to the risk of a futures market collapse, or even just another wealth confiscation. Yes, even though the producer was not engaged in the futures markets himself, if his counterparty turned around and laid off the risk on their private treaty forward contract using the futures, if their private counterparty were to be caught up in either a single-firm collapse OR a total system collapse, it is highly probable that the effects of that would cascade back to them.
For example, if a rancher forward sells his calf crop to a feedlot and locks in his price with the feedlot on a purely private basis, if the feedlot then turned around and SOLD futures to offset the private forward BUY of the rancher’s cattle and then got caught up in a futures market confiscation or collapse, the feedlot might be so financially hamstrung that they might then DEFAULT on the PRIVATE contract with the rancher. This same dynamic could also happen with grain farmers who forward sell grain to an elevator on a private contract. Or it could happen to a feedlot that forward buys feed grain from an elevator. It could also happen in the petroleum markets, and on and on.
I just want to remind people that there are lots of private treaty forward contracting going on, and always have been. In fact, I have almost always advocated to my clients that they look to a private treaty “cash market contract” with feedlots or elevators first before using futures, because that way the feedlot or the elevator is the entity carrying the hedge in the futures market, and thus posting margin and meeting margin calls. For my guys, it was frequently worthwhile for them to cede a few cents on their side in exchange for not having to tap a line of credit for margin calls, and have that cash available for other uses, or to just have the ease of mind that comes from NOT having one’s interim cash flows exposed dollar-for-dollar to market movements.
But, it was fair to say that whenever a private treaty forward contract was entered into, EVENTUALLY someone laid that risk off on the futures market. Some big players are still so attached and dependent on the futures market, and simply can not comprehend or execute a paradigm shift – which betrays a massive weakness of intellect – that they are still trying to operate as usual, with their brokers, likewise in denial, telling them that “everything is just fine”. The sensible players and producers are wising up, and are now even shunning private treaty forward contracts in fear of counterparty risk should a cascading collapse occur.
This MF Global situation isn’t just about a few bucks being stolen from a brokerage firm. Both the scope and cascading consequences of Corzine’s actions put this firmly in the domain of economic treason – as in an act of economic war upon the United States and her people. This is why I told Peter Schiff that execution should be on the table for Corzine. Treason, in whatever form, is a capital offense. If Schiff hadn’t cut me off, I would have explained this.
Capital punishment is serious, solemn business. It’s not an inflammatory rhetorical tool. If execution is ever put on the table, there had better be a solid, well-thought out justification for it.
In this situation of massive economic treason, it would be fully justified.
I continue to marvel at how the cash cattle marketing skillset that I was taught and continue to teach is EXACTLY the remedy for what is happening around us. The answer is not in ever more complex derivatives, but in the simple, millennia-old arithmetical art of physical commodity arbitrage.
It truly is amazing how the Lord works and moves.
Draft #1, courtesy of Arctic Patriot:
A QUESTION FOR THE AMERICAN PEOPLE
Who Owns You?
The relationships between you, other people, and your government all hinge on this simple, yet profound question.
So, Who Owns You?
Who owns your body?
Who owns the products of your hard work, the fruits of your once-only-ever life?
Who has authority in your family, and with your children?
Is it you?
Is it the government?
Who owns you?
Do Democrats have what it takes to run your life?
You own you, fellow American, and no matter what laws are passed, no matter who is elected, no matter how much authority other people try to claim over your life, your property, and your family, the final decision is up to you.
Who owns you?
Only you can answer that.
And only you, through choice, can change that.
AP’s draft #2:
A MESSAGE FROM THE AMERICAN PEOPLE
Politicians laugh when they see gun and ammunition sales at record levels.
They condescendingly say, “Now folks, don’t get riled, no one is going to come and take your guns.”
They just don’t get it.
We’re not worried about outright gun confiscation.
We are growing angry at the government’s intrusions on our bodies, our property, and our families.
That is why We The People are arming ourselves.
Americans do not take kindly to people trying to take control of our lives.
“We the people are the rightful masters of both Congress and the courts, not to overthrow the Constitution but to overthrow the men who pervert the Constitution.”
A quick stab at another:
AMERICA AS WE KNOW IT IS IN ITS FINAL MONTHS
236 years ago, British citizens in North America – having exhausted all other means to remove the boot of government from their necks – started shooting and killing British military personnel assigned to subdue them.
Those acts of murder and treason led to more than six years of conventional fighting up and down the original 13 colonies, along with widespread guerrilla conflict by both sides directed against opposition sympathizers.
Six years of death, destruction, sickness, misery, and starvation — all because the totalitarian government of King George III would not allow the British citizens in North America to live their lives as they saw fit.
236 years later, Americans watch with mouths agape as their government year after year spends more than $100 billion per month more than it receives in taxes.
And what is done with that spending by the government?
- A 21st-century police state is nearing completion across North America, with data networks, roadblocks, unmanned reconnaissance aircraft, unprecedented governmental surveillance of citizens, and a standing army of hundreds of thousands of Federal, state, and local law enforcement officials;
- An American government-dependent class is sustained and expanded continually, with more than 44% of Americans receiving their income from government;
- A decade-long series of unconstitutional and unsuccessful military incursions across the world, leading this country to the brink of insolvency and earning the United States the reputation as a global thug; and
- A ruinous and unconstitutional transfer of American wealth to the banking classes of Europe, which not only will fail to stabilize that continent, but in doing so will permanently enslave today’s American youth as debt serfs.
Thomas Jefferson surveyed the colonial scene in 1776 and noted:
…Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed.
But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security…
Government at all level across America today is simply and hopelessly out of control.
American politicians, bureaucrats, and their enforcers refuse to abide by any of the constitutional constraints designed to restrain them from the overwhelming majority of actions they take every day.
To those betrayers of the Constitution and their supporters, we say this:
Limited, fiscally sound government will be restored to this country.
We – the Americans who value individual freedom, private property, free markets, and human dignity – so swear it.
By any means necessary.
A less hellbound person than I could certainly write a similar piece on faith’s loss and its effect on the rise of tyranny here in the former US of A.
Unintended consequences, indeed.
Remember this: to an outsider, a political activist meeting looks exactly the same as a local extraordinary action group meeting.
Food for thought and local motion, as the Bolshies advance.
I love the assumption that computing power will negate the need for physical security in depth, detail, and duration.
Gonna be a helluva lot of sad pandas when they learn the truth about Cyclops.
Don’t be a sad panda.
Got fighting and farming skills?
You’ll need ‘em both.
Read each in order, then answer this question:
Are you ready?
If not, take three steps towards bettering that situation today.
Mark Steyn searches for “there”.
There’s not here.
There’s not there.
Could it be that
There’s not anywhere?
The stellar naval affairs blog Information Dissemination posts this entry on maritime UAVs as used by an NGO.
Much useful info there and here for those more interested in land-based UAV use by non-state actors…..