Inflection Points

Kim Dotcom vs Corzine and Modern Day Letters of Marque

2012-01-22T16:32:00.000-08:00

Warren Pollock on Max Keiser Regarding Bank Holidays

2012-01-19T07:51:00.000-08:00

Warren Pollock on Max Keiser - Re Bank Holidays

2012-01-19T06:39:00.001-08:00

Warren Pollock on Max Keiser Re Bank Holidays

Ann Barnhardt & Warren Pollock Have an Open Conversation

2012-01-05T13:24:00.000-08:00

James Koutoulas on JPM Boycott, MF Global Failure, ZIRP ... more.

2011-12-30T14:12:00.000-08:00

2011-12-29T12:38:00.001-08:00

Fukushima - Total Cost

2011-12-21T09:18:00.000-08:00

First ask "WHY," For the answer ask "WHEN"!

2011-12-18T18:32:00.000-08:00

Ann Barnhardt - Gold Silver - Near Future, "Monumental Market Disorder?"

2011-12-12T20:19:00.000-08:00

EU: Treaty of debt (ESM) - stop it now!

2011-12-12T18:10:00.000-08:00

David Cameron TKO's Euro by Throwing Zone Under the Bus

2011-12-12T09:06:00.000-08:00

US Markets A Great Place to Divest (The Infomercial)

2011-12-12T09:05:00.000-08:00

"The Effete Corps" of Impudent Snobs Running the Show

2011-12-08T08:00:00.000-08:00

James Koutoulas Co-Founder Commodity Customer Coalition - MF Global Bank...

2011-11-30T17:07:00.000-08:00

John Xenakis of Generational Dynamics

2011-11-29T22:46:00.000-08:00

Trajectory to Global or Local

2011-11-28T17:35:00.000-08:00

Scenario 410 - On Request

2011-11-26T11:09:00.000-08:00

Open Letter to the CME

2011-11-23T22:15:00.000-08:00

To: Terrence A Duffy, Chairman CME Group

As illustrated by the failure of MF Global, I am of the opinion that, the CME has not met its basic obligations to the marketplace as a “public fiduciary.”

Our society depends on “basic finance” to provide “utility function” such as banking, hedging, insurance, and/or capital formation. Presently, we have an “innovative system” that degrades the integrity needed for “basic finance” to perform as required in a well-structured economy.

Worse yet, our “innovative” financial system impedes the effectiveness of the greater “physical economy.” The “physical economy,” consisting of all those individuals and entities tasked with meeting actual need. The "physical economy" consists of many of your customers including farmers, manufactures and electric companies.

Our society needs people working in the "physical world" to create jobs more desperatly than it needs the continuity of the CME. Must we endure another market catastrophe to figure this out?

The 2008 bailouts defined “moral hazard,” as the socialization of losses due to over-leverage. MF Global consumers are currently subsidizing losses attributable to over-leverage and “innovation.” Perhaps, small percentage moves in speculation rationalized an internal choice between corporate survival and the sanctity of customer funds. Complexity has been specifically designed, by “modern finance” to intentionally allow over-leverage leading to outsized profits and reactively-subsidized losses.

The word, “theft,” comes to mind.

I believe that, the products traded by your member firms, at the CME exchange and elsewhere, well exceed the capacity of the monetary system to cover relatively small percentage losses or speculative miscalculations. Clearing OTC derivatives on an exchange does not, and will not, correct the problem.

With repeal of Glass Steagall, and the conversion of mutual companies to publicly traded entities, meaningful regulation has proved to be politically impossible to recapture. The solution therefore resides in simplification from “innovative” towards “basic” finance.

Presently, I would urge you to make MF Global customers whole as a perquisite to market reform towards a “utility function.” More than just the continuity of the CME may be at stake.

Warren E. Pollock
Nov 23, 2011

My Health Insurance Co. got me Evicted

2011-11-23T18:07:00.000-08:00

New Peril MF Global Trustee, Iran's Larijani & Charlie Rose, Tidbits

2011-11-21T18:06:00.000-08:00

All Men are Created Equal

2011-11-09T21:44:00.000-08:00

Karl Denninger - MF Global and OWS - Crony Capitalism = Theft

2011-11-04T13:43:00.000-07:00

OWS Changes Tone, Gestapo Takes Names, Manufacturing Consent to the Poli...

2011-10-24T16:50:00.000-07:00

Divided We Lose - by Charlie McGrath

2011-10-10T11:45:00.000-07:00

Here we go again, kicking off another round of hopetimism on a situation that, basically every human that can fog up a mirror and has an IQ over 75 knows is going to explode into a cascading flood of failure. Why let something like reality spoil the fun, though?

The weekend brought another round of meaningless promises from Merkel and Sarkozy (More Hope), which in the end will be more of the same... hype. The notion that the crisis is any closer to being resolved today than it was yesterday, or last week, or last year is pure hopetimism. The fact is Timmy's "Euro Tarp" has been roundly rejected, and even with the "expanded" bailout fund, there just is not enough new debt to cover old debt. (Not enough dough) So, when we take away the "solutions" that we KNOW cannot work, that leaves us with only reality and that reality is simple, collapse. It is the reason that so many of the power elite are warning of just that. (BoE : Depression Coming) (IMF : Collapse Coming) The reality is civil unrest is hear to stay, in Europe, UK, Mid East, North Africa, USA , and basically anywhere that central banks have allowed massive debtloads and monetary policy to hammer sovereign nations in order to prevent "Too Bigs" from failing. The danger now, IMHO, is divide and conquer tactics.

We've all lived through the co-opting of the Tea Party movement, watching what started as authentic, justified, frustration against too much government spending, insane neverending wars, and of course bailouts by regular, non-sycophant, Main Street Americans, get twisted into a Republican subset. Now we are seeing the same exact thing happen with the "Occupy" movement (Dems Highjack OWS) - how convenient, and how dangerous. Convenient because nothing could be a bigger distraction from our economic collapse than having a co-opted Tea Party Movement fighting a co-opted Occupy Movement. Dangerous because too many angry Americans will buy into this Red Team/Blue Team garbage. The fact is we are all on the Titanic together. There is no Red or Blue, just haves and have-nots (Main Street getting poorer). This economic disaster is very real, and the anger and frustration is also very real. Going forward, we must realize that this hope of financial recovery has been an empty promise, used to gain time for the ȕber-elite class to transfer their failure onto the people of the world. We must realize that there is a new two-party system dynamic that is in effect, the haves and the rest of us. If we lose focus on that fact, then we lose, plain and simple. There is anger and frustration across the globe, and I believe it is justified and very real. United, regardless of ideology, religion, or social perspective, we cannot lose. Divided we cannot win.

Charlie McGrath

Wide Awake News

The Power Elite

2011-09-27T20:19:00.001-07:00

The power elite are now scared! They are scared of the very economic instability they created! They are afraid that a reform movement will start to grow! They want us to be scared because in fear we are safely held captive. We must make the powerful afraid of us!

The criminal classes of this country have seized power through the bending, writing, and selective application of the law! Today, the law works only to the interests of a few! The corporate oligarchs have created a feudalistic society! a new type of fascism! without clear identifiable leadership subject to challenge and reform! To reform, we must demand the restoration of the rule of law!

The goals of these fascists include high unemployment, restricted access to healthcare, increasing costs for food, shelter and housing. We are locked into bondage through debt slavery! We are carefully observed through a growing internal security state. Our children wage endless war under the auspices of global empire. Deprivation, fear, propaganda, ideology, divide and conquer rhetoric, these are the tools used to subjugate people into a modern form of serfdom. The criminal class uses propaganda to encourage a population that is delusional, malleable, distracted and afraid. The corporate state knows no limits until human capital has been destroyed!

We are a culture utterly awash with lies, childish messages that we can have all that we desire should we simply play by the oligarch’s rules. We are treated as good consumers instead of citizen patriots. With jingoistic vigor we falsely view our country, and its role in the world, through rose colored glasses. We deny the negative nature of our national imperatives.

The vast majority of Americans live in fantasy about who we are. we revel in the values and nostalgia of old. Today, we no longer embody the moral virtues that the citizens of the greater world would find worthy to emulate. Our culture has become about the celebration of fame, sports, popularity, media, and idolatry of self. A country will prosper when its citizens aspire to the moral high ground, it will perish should we wager for our own advantage in a rigged corporate casino designed to benefit a few.

Yearning for yesterday, Americans have retreated into the despair of magical thinking. Most believe that our politicians, in the democratic and republican parties, have our best interests in mind. American politicos only know one thing, how to compromise our future for the benefit of the power elite! We must reject the privilege of power that these traitors hold. We must favor integrity, justice, and truth!

To counter the tide, true patriots must call for the rule of law. We must embrace radically different values. We must restore the idea of informed consent by taking responsibility for self and society. Today, We have a moral imperative to advocate for constructive change. We demand that change now! We demand change before it becomes too late to do so.