weatherbill
11-18-2007, 11:58 AM
info@ascot-advisory.com <info@ascot-advisory.com>
sign up to get this free intelligence letter....this guy is so insightful.
He also is a fan of Ron Paul.
Here is some info from his recent letter.
Congressman and current Presidential Candidate Ron Paul writes in the October 15, 2007 edition of the Hawaii Reporter:
.
Other anti-property rights provisions in the Tax Collection Responsibility Act make desperate last attempts to extract the most amount of revenue possible from expatriates on their way out the door. A telling signal that a country is taxing itself to death is capital flight and expatriation. When successful Americans no longer feel their property is secure from government thieves, and they have too much to lose by staying, they vote with their feet and go elsewhere. This country is poorer for the loss of that citizen's investment here, but it is their right to keep and enjoy what they have built up. How dare Congress or the IRS try to deny them that? And what message does that send to the next generation of young entrepreneurs?
.
Ms. Carolyn Baker writes, in an article dated October 8, 2007 from the Atlantic Free Press:
.
For those considering expatriation, it will soon be too late to leave. For those who choose to remain within this increasingly locked down nation, it will be necessary to acquire survival skills, a strong community of friends, and a great deal of stealth in order to navigate this empire's exacerbating Orwellian treachery.
.
Mr. Joseph Goebbels (Joey G. to his friends, and former minister of propaganda for the Nazi government in Pre-World War II Germany) once said: If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State. Think of the media as a great keyboard on which the government can play.
.
.
IN THE NEWS:
.
.
CITI'S MATH PROBLEM - By Gregory Corcoran - November 5, 2007
.
CITIGROUP just can't seem to get the number right. Its shares, down about 4%, are leading markets lower again today after the financial colossus on Sunday announced write-offs of $8 billion to $11 billion to reflect the declining value of sub-prime-mortgage-related securities just since Sept. 30. (CNBC says the number could actually be closer to $12 billion.) That is on top of the $2.2 billion of trading losses and mortgage-related write-downs the bank announced Oct. 15. As of Sept. 30, its exposure to highly leveraged financings totaled $57 billion - $19 billion in funded commitments and $38 billion in un-funded commitments.
.
http://blogs.wsj.com/deals/2007/11/05/citis-math-problem/
.
EDITORS NOTES: According to Betsy Graseck of Morgan Stanley, Citibank has the largest sub-prime exposure in the banking group at 13% of loans and 5% of earning assets. How is it possible that a bank can loose money (12 Billion Dollars is one of the more common estimates, yet there are those analysts that estimate it could be as high as 64 Billion) in a business line that banks are supposed to be most knowledgeable of, namely mortgages and other kinds of loans? If these guys cannot make money in the mortgage or loan business, and they are a supposedly sound and savvy financial institution no less - it sort of makes you wonder about what other cob-webs might be lurking.
.
.
OIL RISES TO RECORD $94 AFTER U.S. SUPLIES DROP TO 2-YEAR LOW
By Mark Shenk - October 31, 2007
.
Crude oil rose to a record $94 a barrel after an Energy Department report showed that U.S. inventories fell to a two-year low. Oil has advanced 14 percent this month. Stockpiles dropped 3.89 million barrels to 312.7 million barrels last week, the department said. It was the lowest since October 2005. A 400,000 barrel gain was expected, according to a Bloomberg News survey. Supplies at Cushing, Oklahoma, the delivery point for New York futures, fell 17 percent. We've lost a lot of oil at a time when we should be building supply for winter, said Phil Flynn, a senior trader at Alaron Trading Corp. in Chicago.
.
http://www.bloomberg.com/
.
EDITORS NOTES: At the time this newsletter is being sent out, oil is flirting with US$100 per barrel, and since many commodities such as oil are priced in US Dollars, and as the Dollar keeps dropping like an elephant free falling from a ten story building, you can be sure the price of oil is probably going higher (in the least to compensate for the currency devaluation). On the other hand, if all the oil exporting nations switched over to Euros (or whatever else), then another story. Of course, many economic issues are inter-related and make for a self inflicted demise of the Dollar. Meaning, a devalued US Dollar caused in part by our favorite alchemists at the Federal Reserve running the presses, which results eventually in higher commodity prices (oil, wheat, copper, gold).
.
Current estimates by some analysts claim that the Fed is expanding the money supply by about 11 percent right now, in 2007, whereas some others put the figure as high as 15 percent at the moment (remember that they stopped reporting M3 statistics awhile ago, but some determined analysts usually can figure it out, although it has become a bit more difficult to do ever since the Fed stopped volunteering the numbers). However, we know that there are some central banks, such as in Saudi Arabia, that are trying to also devalue it own currency, the Riyal, in order to maintain a stable exchange rate parity with the US Dollar. As such, since it is reported that Saudi Arabia has been recently expanding its own money supply (running the presses) by about 18 percent for this purpose, we tend to suggest that the commentary indicating that the US Federal Reserve is inflating the money supply by 15 percent to be a more accurate estimate. Also, the middle east is becoming nervous about keeping their currencies pegged to the US Dollar, and if that happens, watch out (the Arabs actually have more US Dollars than do the Chinese).
sign up to get this free intelligence letter....this guy is so insightful.
He also is a fan of Ron Paul.
Here is some info from his recent letter.
Congressman and current Presidential Candidate Ron Paul writes in the October 15, 2007 edition of the Hawaii Reporter:
.
Other anti-property rights provisions in the Tax Collection Responsibility Act make desperate last attempts to extract the most amount of revenue possible from expatriates on their way out the door. A telling signal that a country is taxing itself to death is capital flight and expatriation. When successful Americans no longer feel their property is secure from government thieves, and they have too much to lose by staying, they vote with their feet and go elsewhere. This country is poorer for the loss of that citizen's investment here, but it is their right to keep and enjoy what they have built up. How dare Congress or the IRS try to deny them that? And what message does that send to the next generation of young entrepreneurs?
.
Ms. Carolyn Baker writes, in an article dated October 8, 2007 from the Atlantic Free Press:
.
For those considering expatriation, it will soon be too late to leave. For those who choose to remain within this increasingly locked down nation, it will be necessary to acquire survival skills, a strong community of friends, and a great deal of stealth in order to navigate this empire's exacerbating Orwellian treachery.
.
Mr. Joseph Goebbels (Joey G. to his friends, and former minister of propaganda for the Nazi government in Pre-World War II Germany) once said: If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State. Think of the media as a great keyboard on which the government can play.
.
.
IN THE NEWS:
.
.
CITI'S MATH PROBLEM - By Gregory Corcoran - November 5, 2007
.
CITIGROUP just can't seem to get the number right. Its shares, down about 4%, are leading markets lower again today after the financial colossus on Sunday announced write-offs of $8 billion to $11 billion to reflect the declining value of sub-prime-mortgage-related securities just since Sept. 30. (CNBC says the number could actually be closer to $12 billion.) That is on top of the $2.2 billion of trading losses and mortgage-related write-downs the bank announced Oct. 15. As of Sept. 30, its exposure to highly leveraged financings totaled $57 billion - $19 billion in funded commitments and $38 billion in un-funded commitments.
.
http://blogs.wsj.com/deals/2007/11/05/citis-math-problem/
.
EDITORS NOTES: According to Betsy Graseck of Morgan Stanley, Citibank has the largest sub-prime exposure in the banking group at 13% of loans and 5% of earning assets. How is it possible that a bank can loose money (12 Billion Dollars is one of the more common estimates, yet there are those analysts that estimate it could be as high as 64 Billion) in a business line that banks are supposed to be most knowledgeable of, namely mortgages and other kinds of loans? If these guys cannot make money in the mortgage or loan business, and they are a supposedly sound and savvy financial institution no less - it sort of makes you wonder about what other cob-webs might be lurking.
.
.
OIL RISES TO RECORD $94 AFTER U.S. SUPLIES DROP TO 2-YEAR LOW
By Mark Shenk - October 31, 2007
.
Crude oil rose to a record $94 a barrel after an Energy Department report showed that U.S. inventories fell to a two-year low. Oil has advanced 14 percent this month. Stockpiles dropped 3.89 million barrels to 312.7 million barrels last week, the department said. It was the lowest since October 2005. A 400,000 barrel gain was expected, according to a Bloomberg News survey. Supplies at Cushing, Oklahoma, the delivery point for New York futures, fell 17 percent. We've lost a lot of oil at a time when we should be building supply for winter, said Phil Flynn, a senior trader at Alaron Trading Corp. in Chicago.
.
http://www.bloomberg.com/
.
EDITORS NOTES: At the time this newsletter is being sent out, oil is flirting with US$100 per barrel, and since many commodities such as oil are priced in US Dollars, and as the Dollar keeps dropping like an elephant free falling from a ten story building, you can be sure the price of oil is probably going higher (in the least to compensate for the currency devaluation). On the other hand, if all the oil exporting nations switched over to Euros (or whatever else), then another story. Of course, many economic issues are inter-related and make for a self inflicted demise of the Dollar. Meaning, a devalued US Dollar caused in part by our favorite alchemists at the Federal Reserve running the presses, which results eventually in higher commodity prices (oil, wheat, copper, gold).
.
Current estimates by some analysts claim that the Fed is expanding the money supply by about 11 percent right now, in 2007, whereas some others put the figure as high as 15 percent at the moment (remember that they stopped reporting M3 statistics awhile ago, but some determined analysts usually can figure it out, although it has become a bit more difficult to do ever since the Fed stopped volunteering the numbers). However, we know that there are some central banks, such as in Saudi Arabia, that are trying to also devalue it own currency, the Riyal, in order to maintain a stable exchange rate parity with the US Dollar. As such, since it is reported that Saudi Arabia has been recently expanding its own money supply (running the presses) by about 18 percent for this purpose, we tend to suggest that the commentary indicating that the US Federal Reserve is inflating the money supply by 15 percent to be a more accurate estimate. Also, the middle east is becoming nervous about keeping their currencies pegged to the US Dollar, and if that happens, watch out (the Arabs actually have more US Dollars than do the Chinese).