We review two of our investments and discuss as always politics and economics
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In this show Al discusses:
- Segment 1 – Louis James opens the show discussing his views, which I believe listeners should at least consider, regarding the resource market in 2013.
- Segment 2 – New Zealand Energy stock has fallen off of late. Al and Cory ask Rhylin Bailee why.
- Segment 3 – Big Al talks to Bob Kemble from Nichols Accounting.
- Segment 4 – Seems to be some real, in our collective opinions, strange ideas behind the politicians desire to limit bank’s too big to fail risk. What happened to the invisible hand of the market? Big Al, Jeff and Cory discuss new proposed banking regulations.
- Segment 5 – Brent Cook, publisher of Exploration Insights, discusses his thoughts on what investors in the resource sector should look for in 2013.
- Segment 6 – Shaun Pollard brings listeners up to date on Westhaven Ventures.
- Segment 7 and Segment 8 – Jeff talks to Bob Bauman of The Sovereign Society about second passports and diversifying your assets offshore.
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
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Although it may be fun to watch Warren pick on bankers beware of the ideologues engaged in populism.
Some say Elizabeth Warren wrote Obama’s “You did not build that!” speech.
Apparently the collective lines were fed to her at UC Berkley cocktail parties.
http://www.youtube.com/watch?v=9839hxo5mEw
I prefer Hayek’s line as a counter to the “You did not build that!” politics…..Hayek wrote
succinctly “Collectivism is slavery!”
That comment from the President makes me so angry that I can’t even comment, Dennis M!
Big Unhappy Al from the Desert
Hit the ball where it is irrigated!
And Warren is one of the thieves. And a liar on top of that.
David my friend, that is a very good point!
Big Al
So where do we go from here with gold? Was Friday the final low? Sentiment couldn’t be worse. Some analyst are already saying stocks will outperform gold the next decade. What will the asian market do when they come back? Is it time to finally call it an end and move on? Some make the goof pint that central bank buying is a good contrary indicator – they may have a good point, after all didnt they sell gold at the low? $1625 was a very key level that was lost very easily. So is the economy getting better? Are the gold bugs and the conservative right wrong? Some are saying we are repeating the 1970s, when gold went down 50% before really taking off. If so we could see $1000 gold, thats a lot more pain. If that is true then this was all for nothing. A lot of money lost and a lot of time wasted.
James…There is no Volker solution to this monetary mayhem.
There are too many layers of debt topped off by a thousand plus trillion of derivatives floating around this fiscal fiasco.
America was still being sold “Do not leave home without it!” from Carl Malden when Volker thrust positive interest rates at us.
http://www.youtube.com/watch?v=4K4seWtxEeA
An act like that now would be the equivalent of throwing a life preserver tied to an anchor.
What would be saved? Our problem has been made worse. The Fed has now for decades fought off recessions. More recently the Fed has fought off depression. With each intervention the Fed raised the stakes. Now The Fed is all in.
Can you imagine this debt addicted society with 10% Ten Year Notes?
Who could afford to buy your house?
Let’s be realistic Dennis M, who could afford to buy anything on credit? Boy you think that Detroit was in trouble a few years ago!
Big Happy Al from the Desert
I strongly believe for any safely employed person, credit use is THE MOST SENSIBLE way to go to BUY REAL ASSETS.
My local home equity rate is 2.85…5 with $299 closing costs.
I personally have no credit at the moment, because I’m an old fart, whose taxable income is equal to what I need to live on. Luckily we do not have to file capital statements with the Infernal Revenue Service or Inland Revenue yet.
CFS
My point was not the perceived bargain mortgage rates.
Housing prices will act in the same direction of bond prices.
As bond yields rise bond prices decline.
As mortgage rates increase house prices will decline in real terms.
A $500,000 home will not sell for $500,000 when mortgages rates are 30 years at 14%.
The market will not be their to support the price.
Unless of course the overall economy inflates so much the then $500,000 house has
$25,000 worth of food in the refrigerator and a $175,000 Ford Fusion in the garage.
In a credit bubble prices of assets that rely significantly on credit are artificially inflated by the credit bubble.
In financial repression manipulation creates perceived value is in assets that eventually become the equivalent of a financial bear traps.
Probably a spike lower yet next week and then we should have bottomed—-at least for the short term.
Like to do an interview with you sometime in the upcoming week. Let me know what works for you.
Best,
Big Al from the Desert
Al, just send me an e-mail on a time and I’ll make it happen. Doc.
I personally believe The Greater, that dramatic real lows in precious metals will not be experienced. But I do agree completely with Frank Holmes that you have to follow the money.
Follow the money is something we should all be talking about on this site!
Big Al
James,
I completely DISAGREE with your last line. Anybody that said they could have predicted this two year malaise in the PM’s is:
A Liar
A great “armchair quarterback;
I dont have anytime for that nonsense. I am only UP (solidly) because I started six years ago. Have I PANICKED YET?! Not one eye-ota. I even dipped into the GOLD market again on Friday. If anybody has the:
1. Where-with-all, i.e. cash flow
2. Perseverance
3. Guts (No glory)
I will welcome them and say HI on the way up. Everything else in BS.
All the best,
Marc
P.S. To all naysayers – Have A LOT of fun chasing this market! 🙂 You going to get decimated by the massive UNDERLYING fundamentals supporting the hard asset/natural resource market.
Now Kathy and I know why we like you, Marc!
Big Al
I don’t have a crystal ball.
Only the bankers know for sure. But if I had to guess, there should be another attack on Monday, but we are getting towards a local bottom, then there will be a flat period (when people are still nervous) and then a period of increasing price until, at least, May.
Ultimately, I do espect the US to seize (with compensation) all gold in GLD and other ETFs and retirement accounts. (With the seizing occurring before the major price rise.)
The Government makes the rules; you surely did not believe they’re here to help you!
At this point, cfs, regarding diversification I don’t agree. I will say though that it is pretty hard to see down here with my head in the sand!
Big Al
Me no understand!
I know you believe in diversification.
If you intended to say you don’t believe in REITs, I have no problem.
Chacun a son gout.
Puplava dscusses the near future in gold and stocks at about the one-hour point in his second podcast today.
Thanks for the tip. I could do without the “Lifetime Income” gibberish and especially that silly Townsend.
For those of you considering diversification don’t forget high income REITs. My computer just kicked out a search with one trust dividend at 14+% (P/E=6) and another with dividend 11+% (P/E=7). Both of these trust will not get capital gains other than what is passed through in the dividend paid, but they are cash-flow just positive after dividend paid.
Comment: REITs need individual evaluation, know how and where they are making money, real estate is alway location dependent and type, e.g. commercial or e.g. residential, dependent.
I don’t know much about them cfs, but I will definitely educate myself this coming week. Thanks man!
Big Happy Al from the Desert
Just between you and me, o Big One, here’s a couple of names to check out of the many:
Take the 2nd thru 4th letters of my email address and look that up as a symbol in the US.
Take the last letter of my name in the email address and add an X and look that up as a symbol in the US.
If I was a banker wanting to get gold down what would I do?
I think frst I would lower margin requirement, so I could encourage more people to overleverage.
Then I would wait until a day (preferably just before a holiday, when trading is a bit thinner)
Then I would hit the market hard and sock it to those over-leveraged, weaker longs and pick up cheap paper.
Then I would encorage my compadres across the pond to give te markets another hit on Monday (US is closed for holiday) when trading is really low.
Yep! Sounds like a plan to me which would shake a few more idiots out of the trees.
You mean idiots or monkeys?
Oh sorry I forgot. One and the same!
Big Happy Al from the Desert
In regards to why the typical CPS is not Gold Bug.
The typical “number cruncher” is conditioned to value the numbers he crunches.
To question the meaning of the number questions the utility of the number counter.
What does it mean to have more or less of something when something keeps changing?
What is the importance of being accurate when what you measure moves?
The precious metal appreciating CPA has actually admitted his day job is less relevant than he was taught in school.
If the length of cubit changed on a daily basis Noah would have drowned.
As Irish pointed out so would have all the animals.
And if we were left with only fish barbecue sauce would have never been invented.
It is important to have sound weights and measures. Think of it the next you enjoy a barbecue.
In a world of sound money the gold respecting CPA would not be seen as a “Gold Bug” because he would be simply counting gold.
You are a pretty bright guy, Dennis M!
Big Al
Why is WHN.V not traded in the US even on the greys?
You can purchase any Canadian stock that you want. All you have to do is place an order with your stockbroker and he/she/it can buy it for you. I would assume that you can also use an online trading platform, but since I don’t use one I can’t help there. If you want some suggestions for brokers let me know and I will send you three names so that you can choose whomever you want.
There is a bit of confusion, cfs, sometimes regarding purchasing Canadian stocks. I have had to problem for over 30 years.
Let me know if you need further help.
Big Al from Heaven (I mean the Cochalla Valley where the climate in diametrically opposed to what we just left!
I use two different on-line brokers in the US and prefer to have things listed in US dollars in real time. Even though pink and grey stocks have larger spreads than on the canadian market and are even more thinly traded, I prefer dealing with US markets or London markets. I suspect Westhaven, with only a $2mil market cap is just too thin to trade in the US.
Looking up filed data for Westhaven, I find filing for $912K cash and equivalents filed 12/2010, and $394K /2011, but nothing filed last year. From experience, that rings alarm bells with audit problems.
Considering there was fresh money raised last year, que pasa?
I am not accusing Westhaven of anything.
It sounds very interesting, but before any company pulls a dime out of my pocket, I go through a total “Trust but verify routine for the first dime)
I am showing Smythe Ratcliffe as auditor, but no opinion.
I don’t think many companies would have filed their 2012 reports just yet. At least a few of the companies I follow haven’t.
AL:
I too own NZ Energy. What bothered me about the interview is that there is all this grand sounding talk of drilling this and drilling that in the days, weeks, months to come — my question is how on earth does the company plan to do that when their cash supply is running on fumes? Most of their cash is going into the Origin acquisition — to my understanding they are left with something like 6 million bucks (not a lot of money if they miss on a couple of wells). Rhylin / NZ can talk all they want about future drilling and about 5000 BOEPD wells — but if they don’t have two nickels to rub together. every last drop of the “potential” oil will stay in the ground. Any comments would be awesome. Thank you.
I’ll answer that:
Two ways:
One is that once drilled an oil and gas wells flow and money derived from sales builds up.
The other is tat I don’t know any oil/gas E and P comany that does not set up some revolving line of credit to finance future drilling, based on potential of land holdings.
Thank you CFS — my only concern is that I have not heard of any revolving line of credit for NZ Energy (I cannot find any info that says they have one). As for the cash from oil wells (400 BOEPD X 77 dollars is approx. 31000 dollars per day (at that rate, they would have to go for 100 days before they could afford another well). With a huge drop off in flow rate (from 1000 BOEPD to 100 BOEPD), I cannot see them catching up very quickly. I would say that in order to get to the 3000 BOEPD as was initially projected, they would have to drill 25 more wells (that is NOT going to happen anytime soon without some cash). Just my opinion.
But they have drilled 10 wells already, flowing at 100barrels a day, sold at Brent.
I don’t know whaT THEIR NETBACK IS, BUT i MIGHT GUESS $100 a barrel….
Now do the math: 10 times 100 times 1000 a day once all well are on line.
Cost to drill a well depends on depth. I did hear te word shallow used in the conversation. So let’s guess $2 mil a well to drill. I estimate every 20 days they could afford to drill a new well.
That, of course, is totally simplistic.
I don’t know what they are paying for 3D seismic, or even cheap 2D, to locate the best sites, I don’t know what they are paying for hook-in fees to attach to pipelines etc. I do know N. Z. has some tough flare-off laws for the natural gas, which would, therefore, have to be collected.
I don’t know what they are paying for leases and puchases for future drill sites.etc.
BE VERY CAREFUL WHEN SOMEONE USES BOE.
It’s a red flag to me, unless they immediately say whether its in BOE cash or BOE energy with what gas to oil conversion rate.
e.g. It is cuctomsry to use the energy conversion of 16MCF of gas equals the thermal equivalent at the burner tip of one barrel of oil.
But if gas is at $2.50 an MCF 16MCF is $40, which does not equal the $100 for a barrel of oil.
P.R. people love to imply more profitability than actually occurs by using the BOE trick.
I did not listen carefully to MS Bailie.
Although I have a few thousand NZ.V shares, I have not looked all that closely at the company, because I am aware of better (in my opinion) energy shares.
Net back is approx. 77 … And they only have approx. 400 barrels per day at present … If the other wells are successful then we may get to 1000. But I understand what you are saying, so, thank you!!!
Sorry for typing errors above.
10 wells times 10 barrels times $100 per barrel was meant to be typed.
Being almost blind, I don’t proof-read as well as I should.
LIBRARY LIONS
In front of the NY Public Library sit two Edward Clark Potter carved statues. They are known collectively as “The Library Lions”. The lions have “lived” through a lot. The lions have “protected” the books for over a century since being created by sculptor Edward Clark Potter. Mr. Potter was recommended the job by Augustus Saint-Gaudens. That name is recognized by anyone who may have a few coins in a sock drawer.
The Lions have endured several nicknames. But the nicknames that stuck to them were born in The Great Depression. NYC Mayor Fiorello LaGuardia named them Patience and Fortitude. The mayor believed these qualities were need for New Yorkers to survive The First Great Depression.
I began to think of The Library Lions when reading/hearing some of the dismay in the resource sector. I think LaGuardia’s idea for perseverance is sound today.
It takes wisdom to decipher when you are gaining strength and when you are being a victim. Pick up a book and when you leave the stacks consider Patience and Fortitude!
patience – pa tience (noun)
1. Capacity of waiting, the ability to endure waiting, or provocation without becoming annoyed or upset, or to persevere calmly when faced with difficulties
Fortitude – for ti tude (noun)
1. Strength and endurance in a difficult or painful situation
Image of Patience and Fortitude:
http://jesstopper.files.wordpress.com/2012/04/nypllions.jpg
Billed as “The most honest three and a half minutes of television, EVER”. (5.6 million views)
Very good acting, especially the young lady; if I hadn’t recognised the main character as being an actor, I would have thought it was for real.
WARNING – CAUTION – LANGUAGE
Clear the room of grand kids or use a headset 🙂
http://www.youtube.com/watch?v=16K6m3Ua2nw
Irwin, I wish there wasn’t so many F-bombs because there are a lot of grandparents that should listen to this while they get their government pensions.
Jeff Daniels is awesome although many other hollywood pimps and whores should do the same thing instead of voting for Obama because he will bring health care to all while he and hollywood kills off Christianity; unargueably the most charitable organizations in the world.
Dan
Dan; I can’t believe that I’ve never heard of that series before; I’ve watched about 5 segments now in the past hour, and they’re all good … not all about politics either.
Too bad they think “language” is necessary to draw viewers.
Great clip.
If you worried about language, you haven’t been around average kids in libaries or schools have you….it is so sad. Using the F-word demonstrates the poor quality of education in the US.
Language: Just because it’s “common” doesn’t mean I have to accept it.
The actor: Jeff Daniels, a fine American actor. His best role: IMHO, JOSHUA LAWRENCE CHAMBERLAIN OF the 20TH Maine in the movie (great) movie: Gettysburg. WHERE IN THE HELL ARE THE CHAMBERLAIN’S in this country when you need them the most?! His “sweeping bayonet maneuver” is still studied today in military circles around the world. A MAJESTIC spontaneous operation that SAVED THE UNIONS FLANK AND SAVED THE DAY AND WAR FOR THE UNION ARMY. If he loses that line, confederates over run the Union and destroy the army on the second day and then PROCEED to Washington. IT is recognized as that IMPORTANT an event. (With all due respect to my Southern brothers)
Thanks Irwin for that GREAT VIDEO!
Or poor parenting.
BINGO!!
“The most honest three and a half minutes of television, EVER”
When I read lines like that, it’s usually a euphemism for a lot of swearing. Justified by the users, of course.
AL How do you feel the loss of Ken Truscott will affect NZ Energy?
Seg 1: Good point about Obama crowing about the recent high in the stock market. Remember when Bush crowed about the all time high in home ownership–and then what happened?
I understood currency wars but what really makes me nervous is when I hear investors say they are taking puts calls out on the likelihood their could be a war between The US and North Korea, and they want to protect their portfolios from such a calamity.
We really have sowed a dangerous future for our world, without sounding to dramatic peace is the only way to prosperity and to the survival of mankind. DT
I’m glad The US doesn’t have to face a foreign country with troops based on it’s soil separating the north from the south, didn’t The US solve this problem in their country 150 years ago. DT
I wonder if the N Korean threat isn’t overstated by the neocons, who speak in tongues of mushroom clouds and yellow cake from Niger while sugarplum fairies dance in their heads. At worst, when they speak of the US, they’re referring to western coastal region of Alaska along the Bearing Sea, where the casualty mostly includes millions of mosquitoes and possibly a stray polar bear or wolf pack following a herd of migrating caribou. For that to happen, they’d have to fly it over Russia and scare the pants of Japan in the process. So let them take care of it; we have our own problems to solve.
Hi bj, last week the North Koreans tested 2 small nuclear warheads designed to sit atop an ICBM, I don’t think they are to be challenged considering they have been preparing for war for 60 years and their leader has been taught by not only his father but also his grandfather to dislike The US. In fact I’m beginning to think the neocons are underestimating them. DT
Just like all Asian people, Machine Gun, they have a very different concept of time than we do. Are they to be underestimated? Absolutely not!
Big Al
Al, No we shouldn’t underestimate or overestimate their capability. We should accurately estimate the threat and who is most threatened.
I would guess it is Japan and it’s time for them to start carrying their weight in the region. Look at a globe and study your history. Even to this day, generations later, the Koreans hate Japan much as America’s Cuban refugees hate Castro. The Japanese didn’t invade the Asia mainland to enlighten the Buddhists into the ways of the Shinto, they went for the iron in Manchuria–and flatten Korea to get there.
DT, everyone in that region has been preparing for war for 60 years. The Vietnam war was a proxy war with the Communist Chinese. Likewise for Korea, which is a protectorate of the Communist Chinese. Funny that the Chinese don’t seem too concerned. Funny too that America granted most favored nation trading status a unified N& S Vietnam only a few short years after we ended that war.
To this day, I am stunned to see American taxpayers subsidizing the migration of America’s industrial base(a very necessary component of warmaking) into Communist China.
I am encouraging everyone , to be vigilant about estate probate. I found recently that my sister has loaned herself 105k dollars ,from my dads estate. and she was refusing to give me my bequest. Now i have a lawyer , and will appear in probate court , in march to take her power away. She had hidden her action , untill a recent report. She recieved a valuable farm , and was not supposed to get cash. Anyone out there , make sure and ask for accounting , of estate assets, or your relatives may plunder the estate , for thier own benifit. best to you all S
Scotty,
My estate lawyer in La Jolla, said “YOU NEVER KNOW WHAT PEOPLE WILL DO WHEN MONEY IS ON THE TABLE!” Although, spoken like a very seasoned attorney, I promptly FIRED her and found somebody else that actually gave a DAMN about my personal family situation. I am very truly sorry about your problem, and the advice is VERY SOUND. BTW, yes, I have spent a good deal on money redoing my family’s estate to make sure there are NO SURPRISES!
Thanks and all the best,
Marc
Scotty, THIS IS NOT LEGAL ADVICE
I am sorry about your situation. It is difficult sometimes to care for a parent. It is unfortunate when it is made more difficult by the unscrupulous.
I wrote down a few ideas to consider. There is a big difference between planning and managing a crisis.
Elder Law planning is the most over looked area of estate planning.
Who cares what the will sets forth after death if the estate is grossly mismanaged later in life.
Durable Power of Attorneys are very powerful and sometimes abused documents.
Incapacity (specifically but not limited to dementia) needs to be planned for consistent with the long term estate planning goals.
A comprehensive way to plan is with a trust accompanied by a LIMITED Durable Power of Attorney. The Limited DPA would allow the AIF to fund the trust but not permit a license to steal the assets for other purpose. Once assets are in the trust at least fiduciary responsibilities attach.
THIS IS NOT LEGAL ADVICE. Check with a lawyer proficient in the area of Trusts, Estate Planning and Elder Law.
Al,
I did not mean to upset you with the previous link.
My “You did not build that link!” was a counter to David’s glorification of Elizabeth Warren. Below is the anecdote to “You did not build that!” collectivism.
The most potent link I have ever included in a post.
Watch it several times….every word matters!
A 2 minute description of the superiority of Libertarian Logic:
http://www.youtube.com/watch?v=0H2rSJayL_c
Trust me Dennis M, you did not upset me. I simply think that the comment by our president was idiotic!
Big Al
I remember the day that Obama said that. There was a lag time here on the website. I personally couldn’t say anything for 3 days. It would just have been “3 minutes of the most honest comment writing” you would have ever heard from me. But this is a family website.
The market had been giving bad signals recently with the weakening cdn dollar and a start of a new US dollar rally. I got out months ago from my gdxj and moved to the regular market (UYM-materiasl) but came back recently to get hit with a bat again giving up most of the nice gains from the materials etf but got out after gold failed for the 4th or 5th time at 1680 which signalled a big fall and moved back to the general market again to recoup losses.
And that, Paul L, is another reason for everyone to be well informed, nimble and ready to difersify!
Could not have said it better myself,
Big Al
Re: Uruguay Banking; latest update.
http://www.qwealthreport.com/blog/uruguay-banking-update-from-peter-macfarlane/
DID CBS NEWS WRITE OBAMA’S 2008 STUMP SPEECH?
Dan Rather Hopes for South African change in April 1994.
I remembered a story while reading about the turbulence in South Africa mining industry today.
I entered the following search: dan rather cbs new south african mine strikes
I found Connie Chung introducing Dan Rather making a collectivist’s puff piece on location in South Africa April 1994….take a peek:
http://www.bing.com/videos/search?q=dan+rather+cbs+new+south+african+mine+strikes&view=detail&mid=4C3BBF0E350177DCBEA14C3BBF0E350177DCBEA1&first=0&FORM=NVPFVR
Just days before Nelson Mandela was elected there was great trepidation about the possible transition. So Dan Rather put on his safari hunter’s vest with huge pockets and did what he did so well.
He told his mostly passive audience collectivism was benign.
Dan rather pointed to Mugabe’s Zimbabwe as reason not to fear change.
After all the once Rhodesia took on significant change and no tragedies occurred…….yet……then.
Dan Rather complements Mugabe for transforming Rhodesia into a more civil Zimbabwe needing mere tweaking. Now we have seen dozens of presenters use debased Zimbabwe currency as frightening fiat props.The last two decades tell Dan Rather’s audience how wrong he was.
Why is it that we remember the Connie Chung/Dan Rather Co-Anchor debacle but allow ourselves to forget all the chaos they created by endorsing collectivism with every breath.
Obama was not the first black president hoping for change. From this story we find “first black presidents” hoping for utopia are a CBS NEWS tradition. This news story from 1994 might have been plagiarized by the Obama 2008 campaign. This story wrote his 2008 stump speech.
A good reporter follows up.
In Dan Rather’s Zimbabwe’s puff piece to quell fear of white residents then President Mugabe said “There is no cause for fear….. at all….be at peace.”
Were the white residents correct in their apprehensions?
Was Dan wrong in selling benign hope and change to South Africa in the above link.
Let us follow up and see what happened:
Follow up link…………..
Dennis: Can’t say why, but when reading your comments my thoughts circle around the reasons Commie (slip of right finger on keyboard) Connie and Rather try so hard to convince people and my thoughts drift to the Bankers for such reasons. Memory of events, words and what I understand has happened suggest the reasons behind all this pivots around the Bankers greatest fear. Their greatest fear is loss of control which is why we see their grip through government and media increasingly tighten.
Loss of control is a scary thing for most people, but few of us realize the fear these bankers have in when they perceive such loss. Paradoxical realization of this fear by the controlling bankers is the very reason their fear exists, which is why Jefferson and many others throughout history realized the dangers banking presents to nations and their people.
As Celente often says “When people have nothing left to loose, they loose it”. I only wish it were possible to convince these Elite Bankers who think they rule the World, that the only thing they need to fear is their own worst fears. And in this case, They can’t win by winning they can only win by loosing.
Clay,
I very thoughtful response!
Zimbabwe is an example of control freaks.
On a macro level I refer back to your post. Mugabe would not of happened unless it was consistent with Global Banking interests. The decision to support, not support, intervene, respond to Mugabe reflect the interests of Global Bankers.
On a micro level Zimbabwe demonstrates a control freak at work. Create a dependent class with loyalty to the state. Destroy all opposition in this case white farmers. Do not
expressly state white farmers must go just make it impossible for them to stay. A few of them might get killed along the collectivist journey.
When a speaker holds up a Zimbabwe Trillion Dollar fiat note the denomination was because the productive white farmers were forced to leave and those that replaced them played cards instead of planting crops. What a shame. Now I know why my father would yell at the television watching the evening news. He was a critical thinker.
I would also bet that he was one interesting guy, Dennis M!
Big Al
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Dodd-Frank was written by the banks. Sen Elizabeth Warren, who none of the banks wanted in the position of Consumer Protection, is now in their face. During a recent hearing she asked the Regulators (calling them that is a fiction) the following question: “When is the last time you took any of the Big Banks to Trial”. No one had and they wishy washied around with BS answers. We have no Regulators since they all work for the Banks. The only people that the corruption is not obvious to are the very people that have to correct it. We need more leaders like Elizabeth Warren. Right now we only have thieves.