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Guard the Borders Blogburst

by Heidi at Euphoric Reality

WHAT THEY DON’T WANT YOU TO KNOW ABOUT SENATE BILL S. 2611

The new immigration bill (the most “sweeping reform in 50 years”) S. 2611 is an amalgam of petty causes, illogical provisions, unstructured “solutions” with zero allowances for implementation, and self-contradictory language. Despite the mess, it was passed by self-righteous politicians who repeated the mantra “it’s better than doing nothing.” This from the same gaggle of do-nothings who outright rejected the House’s law enforcement bill.

The Senate bill has our President’s full support – this same bill is a derivative of one structured by Ted Kennedy and John McCain, and supported in full by the majority of Democrats. That alone ought to give one pause – President Bush, a Democrat?

Peggy Noonan says, “The disinterest in the White House and among congressional Republicans in establishing authority on America’s borders is so amazing–the people want it, the age of terror demands it–that great histories will be written about it.”

She opines that it is possible that…”the administration’s slow and ambivalent action is the result of being lost in some geopolitical-globalist abstract-athon that has left them puffed with the rightness of their superior knowledge, sure in their membership in a higher brotherhood, and looking down on the low concerns of normal Americans living in America.

I continue to believe the administration’s problem is not that the base lately doesn’t like it, but that the White House has decided it actually doesn’t like the base.”

Mover Mike

George Kleinman Calls for $800 Gold

As a followup to my $800 Gold prediction by August 1st, I note that George Kleinman writes about Gold, analysing open interest (OI), and comes to the same conclusion $800 for Gold.

He has followed the rise and fall of OI for 20 years and has some interesting and valuable information about the commodity that we can all use in the future, information that is not available to the stock trader. He writes

If prices are in an uptrend and open OI is falling, this is a bearish sign. The old longs, the “smart money” (after all they have been right to this point), are taking profits; they’re liquidating. They are replaced to some extent by new buyers who will not be as strong on balance, but the declining OI is an indication the weak shorts also are bailing. They will be replaced to an extent by new shorts who are stronger than the old shorts were.

The one thing I would point out, based on the reasoning of Bill Murphy at Le Metropole Cafe, is that OI should have built up faster than it actually did (see Kleinman’s chart). Murphy has argued that the very powerful bullion banks, as in Goldman Sachs, were covering their shorts like mad on any dips all the way up, offsetting new longs. That is why OI didn’t expand as much or as fast as the time in early 2006. Murphy kept saying that OI is still lower than in early 2006 and Gold is $100 higher. His call kept us in the move for a lot longer knowing that the shorts were trapped. At one point Murphy believed there was a 12,000 to 16,000 ton short position. He still believes it may be 10,000 to 14,000 tons short. In other words, we have a long way to go. Kleinman now is correctly calling for $800 Gold by viewing, based on his OI analysis (see Kleinman’s chart)

George Kleinman Gold Finance Mover Mike

Lawrence Kudlow Wears Rose Colored Glasses

Lawrence Kudlow writes in Would Adam Smith Approve? that Capitalism needs a moral core and the conviction of Ken Lay and Jeffrey Skilling, does not signify a systemic infection, but an aberation, thanks to a hard working core of

government prosecutors are doing a fine job of re-imposing the rule of law and re-moralizing our economic system.

He argues that since WWII, the US has evolved 100 Million investors that George Bush calls the “ownership class”.

George W. Bush, a lineal descendant of Reagan, calls this the “ownership class.” And though I can’t prove it, I’m willing to bet that this group’s demand for lower tax rates and entrepreneurial activity goes hand in hand with the cultural characteristics of hard work, thrift, personal responsibility, and law-abiding behavior. (emphasis added)

Kudlow goes on to say that there is a new group of

CEOs engaging in the practice of backdating stock-option grants and other related forms of anti-shareholder compensation chicanery. The biggest demoralizing miscreant is William McGuire, CEO of United Health Group. In Washington, book-cooking at Fannie Mae has still to be properly punished.

Not to worry, the G-Men are here to save the day. Kudlow thinks that Adam Smith who said

capitalism requires a moral and ethical center if it is to function effectively and to the benefit of all

would be proud.

I’m sorry Larry, but I don’t see any core of morality and I’m certainly not inspired by the G-Men. How long did it take for them to dig through all of Fannie Mae’s accounting to find the $11 Billion of errors? The 100 million stock buyers are far removed from running the companies they own. Their trading has been supplanted by institutions and hedge funds. As far as thrift, they not only are the most indebted generation in history, but they have had no positive influence on a ever growing and ever spending government. Adam Smith wouldn’t understand how we have strayed so far from Capitalism.

But Larry, it’s when you look at government itself, that you see the rot and the lack of a moral core. Our government gives us fraudulent accounting and deceptive statistics. No one believes the numbers from the government. In addition the government has capped the gold price, at least as far back as Sec. Treasury Rubin, and has taken away our “canary in the coal mine”. Now it has stopped giving us M3.

Did our government give Japan our domestic auto industry in exchange for 0% interest rates?

Did our government allow our domestic industries to become obsolete, like TV production, flat screens etc?

Are they allowing illegals to invade our country to depress wages?

Has our government exchanged liberty for reliance on foreign oil?

Has our government exchanged sovereignty for dependence on foreign holders of the USD?

Since 1913 when Congress gave the power over money to a non-government entity, the Federal Reserve, the USD has been reduced from a gold-backed currency to a fiat currency that depends for its value on trust. A trust that has led to an inflation of our currency by at least 95%!

Ayn Rand said this about inflation:

Inflation is not caused by the actions of private citizens, but *by the government*: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people’s savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.”

We have a statist government that is no better than a common crook; an example that corporate executives follow. When a government can print any number of billions it wants then it has divorced the concept of value from production and that is immoral. That immorality has invaded the system.

Again Ayn Rand wrote:

Money is a tool of exchange, which can’t exist unless there are goods produced and men able to produce them. Money is the material shape of the principle that men who wish to deal wlth one another must deal by trade and give value for value. Money is not the tool of the moochers, who claim your product by tears or of the looters, who take it from you by force. Money is made possible only by the men who produce.

At a recent round table lunch on hedge funds Richard Oldfield, chief executive of the fund managers Oldfield Partners, said

“We will look back and realise this was a barmy time,” adding that some hedge funds were walking a difficult regulatory line: some were close to acting as concert parties in bid situations and some were coming very close to front-running — the practice of trading ahead of one’s clients.

Larry, take off the rose-colored glasses!

Lawrence Kudlow Capitalism Gold Ayn Rand Inflation Mover Mike

Aaron Russo’s AMERICA: FREEDOM TO FASCISM

Aaron Russo says: There are no boundaries one must adhere to when preserving one’s liberty.

There’s a powerful new movie coming to your screen on July 28: Aaron Russo’s AMERICA: FREEDOM TO FASCISM.

The primary objectives of the movie and the call to action are:

* Stop the polarization of America
* Stop the domination of the Democratic and Republican parties over our political system
* Shut down the Federal Reserve system
* Return America’s gold to Fort Knox and have it audited
* Have Congress and the IRS, in a public forum, reveal the law that requires Americans to pay a direct, unapportioned tax on their labor.
* Make computerized voting illegal in all 50 states
* Keep the internet free and out of the control of large institutions
* Rescind the law called the Real ID Act so Americans never have to carry a National ID Card
* Make it illegal to implant RFID chips in human beings
* Educate juries to the fact that they have the right to determine the law as well as the facts of a case
* Educate juries to the fact that they are not obligated to follow the instructions of a judge
* Stop Globalization because it is the path to a one world government
* Protect our borders
* Restore the environment
* Put an end to the Patriot Act
* Sign up millions of Americans so we can accomplish our objectives
Remember Barry Goldwater: Extremism in the defense of liberty is no vice; moderation in the pursuit of justice is no virtue.

Aaron Russo AMERICA: FREEDOM TO FASCISM Liberty Mover Mike

Gold Headed for $800!

Back in April, I wrote about trading gaps in the nearest Gold contract:

Now, our third gap took place on 02/06/2006 with a close at 574.3. IMO, the bottom was at 539.0 on 02/16/2006. As I indicated in my previous post, I believe we have broken out of a small head and shoulders bottom. If this move acts like the previous two our next high should be between 625.40 and 640.00, sometime in the first two weeks of April.

That gap was filled on March 29th, and Gold hit $636 on April 19th. While I missed the timing by three days, gold continued higher until May 11, at $728, a gain from the filling of the gap of about $148.

Now we have another two gaps on May 19th and May 24th (see chart). Those gaps will be filled when we trade at or above $680.20. If the gaps are filled, we should trade $148 higher from the gap or $828.20.

Assuming we close the gaps next week, based on the amount of time the last $148 took, I would guess that we trade over $800 prior to August 1st.

Gold Gold Gaps Finance Mover Mike

Update:


It’s Taylor Hicks!

Well, dang! Taylor Hicks wins American Idol and Katharine McPhee looks fabulous. Maybe I do need another Joe Cocker or Michael MacDonald CD, and I still need a McPhee CD to add to my collection.

Congratulations Taylor, that’s a vote for all us gray haired guys.

And Katharine, that last dress looked fabulous on you!

American Idol Katharine McPhee Taylor Hicks Entertainment

A Warning from the OECD

From the Organisation for Economic Co-operation and Development (OECD), the Western world’s chief economic overseer, a warning:

the eventual rebalancing of the US current account gap ‘looks increasingly unavoidable’ and will send shock waves across the globe, starting with a slump in the dollar’s exchange rate.The OECD said in its world economic outlook that the depreciation faced by the dollar could be ‘of the order of one-third to one-half.’ (emphasis added)

London Irvine says if this were to happen, Japan and China could each lose $400 Billion in forex reserve value. Clearly, a USD fall would deal pain here and around the world.

USD Trade Deficit Finance Mover Mike

DDT use starts in July

Finally, some sanity.

DDT use starts in July By Alfred Wasike

UGANDA is set to start spraying homes countrywide with DDT (dichloro-diphenyl-trichloroethane) against malaria in July, the Government has announced.

In preparation for the DDT anti-malarial strategy, the US has given Uganda US$10m to fight malaria.

The US President George Bush anti-malarial initiative has chosen three African countries; uganda, Tanzania and Angola, former health minister Jim Muhwezi said.

Uganda loses over US$700m per year to malaria (more money than Uganda gets from donors to balance its budget), while between 100,000 and 120,000 people are killed by malaria annually, the Government says.

Muhwezi said the spraying was being coordinated at continental level by an organisation called WHO-AFRO.

Malaria DDT Uganda

American Idol – The Finals

The finals of Americam Idol are over. Sure, Taylor won the first round, Katharine won the second round and Taylor won the third. However, this is not about two out of three being the winner. It’s about CDs and whose would you buy. I already have some Joe Cocker, some Michael McDonald and some Elton John. I don’t have any Katharine McPhee.

To quote Nekesa Mumbi Moody of the Canadian Press

…she (Katharine) showed her true strength as she sang her rendition of Somewhere Over the Rainbow, breathing new life into a standard that has been so oversung by overwrought divas that most people wince when the opening notes of it are played. McPhee actually put her own beguiling stamp on it, infusing the classic with the kind of grace and innocence that Judy Garland did decades ago, and making it seem fresh and new.

Then there was the song Since I fell for you that Katharine sang way back in March. I downloaded two of the best versions by Michael Bolton and Barbara Streisand and those singers don’t come close to the Katharine version.

I’ll vote for Katharine and I will buy her CDs and she will get even better. Taylor can’t get better. I’m hoping for a Kat win, Taylor will take second place!

American Idol Katharine McPhee Taylor Hicks Entertainment

Update:


Guard the Borders Blogburst

by Heidi at Euphoric Reality

Our Open Borders Will Be The Death Of Us Yet

I live in Texas, and sometimes I think people don’t truly grasp the fact that the chaos on our borders is not a border state issue – it threatens them directly, no matter where they live. The fact is that our border chaos is directly linked to our national security. Terrorists already have and continue to illegally cross our border, blending in with illegals from Mexico and Central America, or brazenly crossing over with an armed escort of gang members or even the Mexican military.

Watch this video of an ongoing investigation done by the news team from KGRV TV serving
Harlingen-Weslaco-McAllen -Brownsville, Texas. (Video will open in your media player – it’s a news segment.) It is part of an ongoing series highlighting the culmination of months of investigative research into the flow of terrorists over our borders. Fred Burton, a counter-terrorism expert of Stratfor, was interviewed on camera. He stated that now is the perfect time for terrorists to sneak across the border. Escalating violence and an unprecedented flood of illegals is distracting law enforcement and stretching it thin. Zapata County sheriff, Frederigo Gonzales Jr. says that as for WMDs, it is not a matter of “if”, but “when”.


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