Archive for October, 2015

Cashin’ In Cash (October 26, 2015)

Posted in Banks and Banking System, Privacy on October 26, 2015 by e-commentary.org

. . .

D          “You’re kidding?  I can’t withdraw all my money.  I could swear this looks like a financial intermediary.”

. . .

D          “I can’t withdraw my money and you want to monitor my deposits of cash on behalf of the government?”

. . .

D          “The government does not need to know everything.  If you protected our privacy when we sought to deposit cash, you might attract more deposits and have enough funds to allow me to withdraw $3000 or $3500.  Just a thought.”

. . .

[See the e-commentary at Monitoring The Masses: The Card And The Chip (January 12, 2015).]

Bumper stickers of the week:

In November, we’ll begin requiring a valid identification (ID) for cash deposits made with our tellers.  Bank of America

In November, cash withdrawals are limited to $2500 in a business day.  Local Credit Union

USA, FDIC, Or NCUA? LCU? SPCU? (October 19, 2015)

Posted in Bail In, Bailout/Bribe, Banks and Banking System, Boycott Series, Collapse, Credit Unions, Debt/Deficits, Depression, Dollar - World's Reserve Currency, Federal Reserve, Gold, International Finance, Kleptocracy, Money, SDR - Special Drawing Rights, Silver on October 19, 2015 by e-commentary.org

. . .

B          “I want out of the Racket – the stock market Racket.  I want to hold my deferred compensation in the form of dollars, for what they are worth.  As I see it, Treasury Bills and Treasury Bonds are allegedly protected by the ‘full faith and credit’ of the United States.  What is that worth?  When the Big Jolt hits, what is Uncle Sam’s telephone number?  Or e-mail address?  unclesam@unclesam.gov?  A general promise by the Uncle when I have full faith that the credit of the United States is sketchy, provisional and conditional at best.  I won’t touch Treasury Bills or Treasury Bonds.”

C          “Another hollow and worthless promise.  I won’t touch Treasuries and refuse to deposit money in a bank.  The FDIC (Federal Deposit Insurance Corporation) allegedly provides insurance for banks, yet the agency is ‘stressed’ to put it mildly and will not pay all claims in the event of a significant bank run.  The NCUA (National Credit Union Association) allegedly provides insurance for credit unions and may provide some insurance protection for some time for some depositors.  I am willing to make a tentative commitment to the system and keep some of my funds in my Local Credit Union (LCU).”

B          “Depositing a healthy chunk of money in the Sealy Posturepedic Credit Union (SPCU) involves little counterparty risk and allows me to sleep peacefully at night.  When the Big Jolt hits, there will not be enough physical dollars.  Regular folks may accept regular dollars for two related reasons – inertia and habit – until the shock triggers them to do something and change their habits.  Regular folks will accept the few available physical dollars for four or six or eight weeks for transactions as long as other citizens accept dollars for transactions.  Then regular folks will only accept Sacagawea dollars and some coins for a few weeks, although coins like dollars of any kind are in short supply today.  After a few more weeks, some informed folks will accept silver coins minted before 1964 at a premium.”

C          “In the end, the Depression is our guide.  Twelve gauge shot gun shells may be another medium of exchange and twenty-two rounds may be used as change to support the emerging barter economy.  Cash of any kind is the threat to the those who run System.  The government now requires banks to obtain and record the identity of anyone making a cash deposit and are refusing to accept cash for some payments.”

B          “Banks do not need deposits to be able to loan money.  Yet today many banks are offering gimmicks and gewgaws to attract funds that they will be able to retain during a ‘bail in’ without any obligation to the depositor.”

. . .

C          “Junior’s paper route money stored in his piggy bank may be our only available liquid asset.”

B          “She may not stand for us withdrawing some of the Standing Liberty quarters from the collection she has accumulated with her baby sitting money.”

C          “We may need a bushel basket of Wheat Pennies to buy a pocketful of wheat.”

B          “When the banks are maneuvering to avoid a haircut, we may be required to go to our Barbers.”

. . . 

[See the e-commentary at Preserve Cash; Preserve (Some) Privacy (May 4, 2015), “Bail Ins” Are Globalized; “Bail Outs” Are Bailed Back In; No Bail For Bankers (December 29, 2014), Globalizing The Bail In (July 8, 2013), Bailouts: Out; Bail Ins: In; Slowly Boilin’ The Frog (April 15, 2013), Money “In The Bank” Or “Under The Mattress” (October 8, 2012), Boycott Big Banks – Vote Your Dollars (November 21, 2011), and Boycott Big Banks (February 1, 2010).]

Bumper stickers of the week:

The U.S. government is pursuing an international currency war and a domestic war on currency.

SPCU/You > LCU/NCUA > Bank/FDIC > Uncle Sam/FF&C

Seriously Sizing Up Syria Seizing Up (October 12, 2015)

Posted in Afghanistan, Bush, Climate, Dollar - World's Reserve Currency, Foreign Policy, Global Climate Change, Global Warming, Iran, Iraq, Middle East, Newspapers, Russia, Sports, Syria, Vietnam, War on October 12, 2015 by e-commentary.org

. . .

7          “They could make it easier if they wore jerseys with numbers.”

8          “The good folks could sport odd numbers and the bad folks could sport even numbers on their uniforms.”

7          “Or the good folks could use even numbers and the bad folks could use odd numbers.  Or use different defining colors.  Or stitch the sponsor of the team on the back of the jersey.”

8          “During the Southeast Asian War Games conducted in ‘nam, a ‘Stars and Stripes’ newspaper cartoon depicted two identical individuals in pajamas and flip flops – one described as ‘Friend’ and one described as ‘Enemy’.”

7          “Nothing changes.  Discerning one’s friends and one’s enemies among those wearing towels and sandals is vexing.”

8          “The great feud between the Shia and the Sunni seems akin to the great feud between the Hatfields and McCoys.  No one was right and no one really knew what they were fighting for and no one really knew why they were fighting.”

7          “The reality is that the enemy of my enemy is not my friend, the enemy of my enemy is my enemy.”

. . .

7          “Most folks are more comfortable with what the nerdy folks describe as a ‘Manichean’ division into good and bad, or right and wrong, or us and them.  International relations are described as a balance of power and depicted with a scale.  A pint of water on one side can be balanced with a pound of whatever on the other side.  Yet international relations are more akin to multiple Calder mobiles strung and hung together.  Tug on one string and everything tips out of balance.  The unprovoked invasion of Iraq by then President Cheney and Vice President Bush in 2003 was the great tug that triggered the imbalance accelerating today.”

8          “Toss a rock in the pond and watch the concentric circles and the eccentric responses.  The lack of water in Syria and other places is fueling the fury.  A drought of water leads to a drought of hope.  The world is transitioning from wars over oil to wars over water.”

7          “And wars over currency.  Everything is out of balance.”

8          “Seems that global climate change is bringing about global change.”

. . .

8          “For the U.S., ‘Iraq’ is Arabic for ‘Vietnam’.  For Russia, ‘Syria’ may be Arabic for ‘Afghanistan’.”

7          “‘Waterloo’ is French for ‘Waterloo’.”

8          “Or Esperanto for ‘quagmire’.”

. . .

7          “We make decisions with limited information.  Look at who is for and who is against going to war.  Former General Wesley Clark suggests that the United States seeks to take out Iraq, Syria, Lebanon, Libya, Somalia, Sudan and Iran.  The Neo-conservatives in America want the United States to be mired in constant war everywhere on the planet all the time.  They keep getting us in trouble.”

8          “The bad folks.  Do they have even or odd numbers?  What color are their uniforms?”

. . .

7          “Much of the fighting is a prolonged currency war between the United States and many other countries.  The United States is slowly losing the franchise on the world’s reserve currency.”

. . .

[See the e-commentary at World’s Reserve Currency War I = Cold War 2.0 = WW III (?) (September 8, 2014) and Le Dollar – World’s Reserve Currency? (November 28, 2011).]

Bumper sticker of the week:

Are they doing the watusi when they should be doing the hokey pokey?

Boys v. Girls / Reds v. Blues / Republicans v. Democrats / Catholics v. Jews / Institutionalists v. Individualists / Don’t Let Others Immanentize The Eschatoners v. Let Others Immanentize The Eschatoners: The Great Divide At The Supreme Court Today (October 5, 2015)

Posted in Capital Punishment, Death Penalty, First Monday In October, Global Climate Change, Global Warming, Hypocrisy, Immanentizing The Eschaton, Law, Religion, Supreme Court on October 5, 2015 by e-commentary.org

. . .

L1          “Breyer is an all-pro guy, but, admit it, he is too smart to be male.  And Sotomayor was born with a plastic spoon in her mouth and is not a sustaining member of the Don’t-Let-Others-Immanentize-The-Eschaton wing of the Catholic church who dominate the Court today.”

L2          “So on one side of the great chasm are the Red Republican Catholic Institutionalist boys (Roberts, Scalia, Alito, Thomas and Kennedy) and on the other side are the Blue Democratic Jewish Individualist girls (Breyer, Ginsberg, Kagan and Sotomayor).  The divide could not be more clean and elegant.”

L1          “Or more stark and cavernous.  The Justices are seated by seniority but now should be seated with an aisle to divide them into two camps.  The sports announcer could chortle:  ‘In this corner, we have the Reds; in this corner, we have the Blues.’”

L2          “That would be way too honest and candid.  The big problem remains the lack of lawyers, leaders and intellectuals on the Court.  The biggest problem is that they are drawn from the worst pool of candidates – judges from the federal appellate courts who are probably the most intellectually dishonest group of lawyers.”

. . .

L1          “They are not listening to the Pope on topics ranging from global climate change to the death penalty, from the death of the planet to the death of the person.”

L2          “Or the Pope’s comments on income inequality.  Roberts and Alito are trying to outdo each other promoting business over the individual and protecting the government from the individual.”

. . .

L1          “Those in the majority claim to be Roman Catholic but do not vote or behave like the majority of Roman Catholics.  They are roman Catholics.”

L2          “Sans serifs.  Depends on the day of the week.  A Catholic on Sunday and a quasi-Catholic on the first Monday in October and thereafter.”

L2          “The opinions of the Pope are what lawyers describe as purely advisory.”

L1          “That independence of thought is not entirely undesirable.”

L2          “Accord.”

. . .

L1          “No more than three Justices from one law school.  No more than three Justices from one religion.  No more than three Justices from the WaNeBos region.”

L2          “If no more than three Justices can be confirmed who believe that we should let others immanentize the Eschaton and no more than three Justices can be confirmed who believe that we should not let others immanentize the Eschaton, how do we fill the other three slots?”

. . .

[See the e-commentary include in the “First Monday In October Series” and see The Paradox Of The Republican Federal Judge: Republican Federal Judge Syndrome (September 23, 2013) and SCOTUS on TV: “They Might Not Be Such Bastards” (March 26, 2012).]

Bumper stickers of the week:

It all comes down to one Red Republican Catholic Institutionalist guy – The Fulcrum

Pray