ducati998

Dollar rises as they flee the Euro.

JakeGint says:
November 30, 2010 at 8:16 am

Hardly. I said “umbrella,” not “bomb shelter.”

The State, to maximally exploit the populace, must be able to control the populace, thus, the production of security, the defense [armed services, national guard] Police, and Judiciary are critical.

The governments power ultimately rests on its ability to apply coercion and thus silence any organised dissent that shows the potential to reduce its power and influence. Any competing armed, or coercive force is swiftly outlawed and crushed: hence the very limited powers of private security firms, even though there is ample evidence of their superiority in providing more efficient services than the public versions.

In the same way that the government monopolises the provision of security, particularly the armed forces, so to must they monopolise the Judicial system, which is even more critical, as it is the foundation upon which another Big Lie is built.

The Judiciary, far from being an independent check on government, is a puppet of government, bought and paid for. The Judiciary lend the weight of an Ethical argument or position to the governments coercion, thus, the minority maintain the support of the majority, who, otherwise would seek the dissolution of the State.

The market, while bouncing on the 50ema is looking increasingly weak. There are the European concerns etc. With another POMO [and everyday this week] going off, you would think that the market would be far stronger.

Yesterday was similar, and although the market recovered into the close, it just doesn’t feel right, not like a rising market should. The Generals are looking decidedly dodgy. [AAPL, AMZN, GOOG, PCLN, NFLX]

November 29, 1963: President Lyndon B. Johnson forms a commission to investigate the assassination of President John F. Kennedy on November 22, 1963. The Warren Commission was headed by Chief Justice of the United States Earl Warren and consisted of Representatives Hale Boggs [D- Louisiana] and Gerald Ford [R- Michigan], Senators John Sherman [R-Kentucky] and Richard Russell, Jr. [D-Georgia], Allen Dulles – former director of the CIA, and John J. McCloy – former president of the World Bank.

The conclusion reached by the Commission after exhaustive study was that Lee Harvey Oswald was working alone. Oswald could not be questioned as he had been shot and killed by Jack Ruby in front of millions of television viewers while Oswald was in police custody on November 24, 1963. Oswald is said to have fired three shots. The first shot struck President Kennedy in the upper back, passed through his body and then struck Governor John Connally. The second shot is said to have missed its target. The third shot struck the President in the head. The total time for the shots was 4.8 to 5.6 seconds.

Was the Commission merely a cover-up? There is controversy over the issue even today. Three later US government investigations agree with the Warren Commission’s finding of the number of shots fired and Oswald acting alone. The 26 volumes of testimony is not without criticism. Only one of the 94 witnesses were heard by everyone on the Commission. The star witness, Howard Brennan, had inconsistencies in his testimony. The Commission found fault with the Secret Service pointing out the total inadequacy of the security.

The House Select Committee on Assassinations felt that there was a fourth shot fired, by someone on the “grassy knoll” based on acoustic evidence. This fourth shot missed, but it meant that Oswald was not acting alone. The debate continues, books and movies have been produced siding with lone shooter or conspiracy theory. We may never really know.

“It is important that all of the facts surrounding President Kennedy’s Assassination be made public in a way which will satisfy people in the United States and abroad all that the facts have been told and a statement to this effect be made now.” – Assistant Attorney General Nicholas Katzenbach, November 25, 1963

“What was really drawing me to the material was entirely unresolved feelings I still had from the age of 17. The Kennedy assassination was something that to me made no sense.” – John Weidman

“The ’50s was the last good decade of American history. It was really a 10-year vacation between the horror of World War II and the assassinations [John F. and Robert Kennedy, Martin Luther King Jr.] and Vietnam War of the 1960s. The ’50s was the last feel-good era.” – Richard Lindberg

“Assassination has never changed the history of the world.” – Benjamin Disraeli

Notice the Chair: Chief Justice Earl Warren. The Supreme Court, again used as a propaganda machine.

Spain’s banks may struggle to refinance about 85 billion euros ($111 billion) in debt next year as costs surge on concern continental Europe’s fourth- biggest economy may need an Irish-style bailout.

“There’s a universal dumping of Spain going on,” said Andrea Williams, who helps manage about 623 million pounds ($968 million), including shares in Banco Santander SA, at Royal London Asset Management. “The fear is that Portugal, Spain and Italy are now in line after what happened in Ireland.”

The average yield investors demand to hold euro-denominated Spanish bank bonds, relative to government debt, rose 117 basis points to 361 basis points in November — the biggest monthly jump on record, according to data compiled by Bank of America Corp.

As the cost of insuring the country’s debt against default rose to its highest level, Spanish lenders now pay the biggest premium ever on their debt relative to other banks in Europe. Spreads on Spanish bank bonds in euros rose to a record 147 basis points more than the average for all lender debt denominated in the currency, up from a gap of 63 basis points on Oct. 31, according to Bank of America data.

“The big elephant in the room is not Portugal but, of course, it’s Spain,” Nouriel Roubini, the New York University professor who predicted the global financial crisis, said at a conference in Prague yesterday. “There is not enough official money to bail out Spain if trouble occurs.”

From Hitler in Mein Kampf:

All this was inspired by the principle–which is quite true in itself–that in the big lie there is always a certain force of credibility; because the broad masses of a nation are always more easily corrupted in the deeper strata of their emotional nature than consciously or voluntarily; and thus in the primitive simplicity of their minds they more readily fall victims to the big lie than the small lie, since they themselves often tell small lies in little matters but would be ashamed to resort to large-scale falsehoods. It would never come into their heads to fabricate colossal untruths, and they would not believe that others could have the impudence to distort the truth so infamously. Even though the facts which prove this to be so may be brought clearly to their minds, they will still doubt and waver and will continue to think that there may be some other explanation. For the grossly impudent lie always leaves traces behind it, even after it has been nailed down, a fact which is known to all expert liars in this world and to all who conspire together in the art of lying.

For government, the minority, to rule the populace, the majority, the majority have to buy into the big lie. This is accomplished via a series of redistributive strategies: the first is the redistribution of state power: this is the big lie.

This is redistribution of the right of the state to expropriate, exploit, and redistribute non-owned and non-productively appropriated productive assets.

The State, does not remain, or become a closed shop, restricting entry into itself in a democracy, rather, it adopts an organisational structure that in principal at least, allows entry to one and all. Here, the various government positions grant equal and universal priveleges of participation and competition in the determination of the policies of the government state.

This of course is the big lie. The average participant, believing that everyone having the opportunity to enter government, believes that somehow “everyone” viz. government has his best interests at heart. That somehow, individuals entering into the abstract monster known as government, can control and mold government to their image, that they can retain their integrity, morality and ethical foundation within the apparatus known as government.

In the sameway that entrepreneurs are drawn to business, so are criminals drawn to government. The skills required to rise in power suiting the sociopath. Thus, the corruption exerted by power, need hardly even be present, the entrants, are already cognizant of the advantages bestowed through exploitation and expropriation.

The rise and progression of new entrants, can always easily be controlled through the various means and way of the rules of politics. Thus the power is invariably retained by the baser of its participants, while concurrently fooling the majority into supporting the minority.

We have a total of six POMOs this week (two today and one every other day). So the Fed will literally be juicing the market by $6-9 billion EVERY day this week. If stocks can’t remain afloat in the environment and the US Dollar strength continues, then the markets are heading into some VERY DARK times in the near future.

Market not liking Monday much. Apart from AMZN which is the online retailer par excellence, pretty much everything else on my screens are red currently.

This is a victory for much maligned bondholders everywhere. I am pleased to announce we have effectively removed the word investing from the vocabulary of bondholders.”

“Starting today, bondholders need not be concerned with who they lend money to, why, or what risks there are in doing so.”

“Not only will this help ease turmoil in the markets, but bondholders can now think in terms of winning rather than the more mundane investing because the ECB and IMF will backstop all losses from trading bonds.”

This is the quote from Trichet, and the ECB. Essentially then, they are emulating the Federal Reserve and Bernanke, who are inflating to paper over every and any loss [investment] that they deem material.

The entire concept of investment of capital, of the allocation of scarce resources via the pricing system, is thrown out. Any marginal project, funded via bonds, potentially is guaranteed by the Central Banks.

This of course is simply unteneable. You will incur monstrous misallocations of capital that will require bailouts to make the bondholders whole again, as various enterprises and projects go bankrupt requiring the central banks and government to increasingly raise taxes, or print money to pay for these bailouts.

As the raising of taxes virtually guarantees the voting out of the sitting government, we will of course see the cowards way out, inflation, which is theft by stealth.

Looking at this data, you would have to conclude, even allowing for inflation, that the shopping spree was a success. Interesting to see how the market responds via the retailers. AAPL will if the market believes the data to be correct, be a recipient of a bump higher.