funny……..good one……………

missed you over the weekend……there was a clip I wanted you to post……

it was from seg 8 Glen Downs at about 5:25

One of the points that you might have missed is the fact that if derivative become an issue, which Barnhart illustrated in her eight part section, which I pointed out last week, provided by franky,,,,,,THE FDIC , does not have enough funds to cover any of the TBTF banks, if one goes down…..THINK about the possibility of not being able to withdraw any funds for a week., and then, maybe the possibility of only withdrawing $300 at a time……….All the banks are over levered…….and have been for years.

Jerry,

I only listened to about 2 minutes of pt. 3 of her series last week and there were several things she said that I do not agree with. She erroneous implies that the 300 or so small banks that supposedly have a perfect Texas ratio score were safe when in reality they may not be that safe. You can’t just look at that number (or any number for that matter) and tell. Also there are several potential problems with some of these small banks that have too much cash because they do not make enough loans which she probably does not realize. For example some small banks have their cash reserves held at the Federal Reserve Bank(Gulp!). Now is that safe? Or they just have it in a vault were it could be stolen which has happened. If so, do all these small banks have insurance in case of employee theft? The odds are that some do not. So right away what she says turns me off. However I want to listen to the whole thing, just have not got around to it. I have no doubt she will make some statements and present conclusions that are not necessarily correct.

J Miller I agree with you over David McAlvany being solid. Disappointed that crazy Celente allowed himself to be the guest of Hunter’s, given how Celente tore into Hunter over his host’s all-out defence of the Israelis over Gaza.

J.Miller………..ON the 300 safe banks with the Texas ratio,,,,I think the tape is a couple years old(?), but , the main message is the derivatives …….

oh,,,,and the leverage….what did she say,,,, 100times more exposure if something goes wrong , which , it most like will , based on the collapse of 2008 if that is any indication. Remember AIG…Leyman (sp)…..

Jerry,

I know more about this than you do.

Really……….?

After viewing Ann Barnhardt’s complete 8 part series I find she says a number of things that are simply not true. For example in part 1 she gives an example where a few people are using tide detergent to pay bills and she calls it a currency. It is not a currency or money. It is being used in PLACE of currency or money. To be money it has to be a medium of exchange that is widely accepted to purchase goods and services. Tide detergent being used as payment is not widely accepted. It is not money or a currency. Continuing on in part 2 at the 12:15 mark she states that bond yields of certain countries are negative. That is totally false, all bond yields were and are positive. In the beginning of part 3 she is also wrong about the safety of banks that have a perfect Texas Ratio as I have stated in my one post above. Also later on in part 3 she misleads people concerning the amount of deposits that the FDIC insures. She states that there is 8-10 Trillion in deposits and implies the FDIC has that amount to insure. The fact is that only about 2/3 of that are insured. The other 1/3 of that amount is uninsured which the FDIC does not cover. Barnhardt implies that should a number of banks fail that the FDIC would have to come up with trillions of dollars. This is not true. The FDIC only has to make up for the shortfall of the insured deposits when a bank becomes insolvent. Most times it is only a small percentage of insured deposits. So should a number of medium to large banks become insolvent the amount that the FDIC would need to come up with would be more like $200 Billion to perhaps as much as $500 Billion, but not Trillions.

When someone can not even get the simple things right how can you trust them to get the harder things right? The answer is you can’t. This is someone you need to take what they say with a grain of salt.

Also she also does way to much ranting and raving at times which adds no value to the what truth she presented which I already knew.

JM…..were there several nails in his head?…..I thought I read or heard , there were several nails……..j……………………….

Jerry,

The guy was probably murdered by a client that got screwed by him. Someone who is a pro would not be so sloppy to commit a murder by using a nail gun and than try to make it look like a suicide.