Is it oxymoronic to ask for an honest banker? ( or jes' moronic?)

Whata notion, honesty in bankin'? Heh.

Me an' Uncle ain't able to git ourselves square to the current situation. Well, it is hard to get a man to consider the facts when his income depends on not doing so.

I say it is over--oveah, sweet thangs. Git me some oil futures, fergit the gold an' silver.

The house of cards is comin' down, slow motion, mebbe, but comin' down. As in, flat. The bankers is lying to us--the Q2 reports of banks makin' profits? Uh, wait. How can it be that jes' months after takin' Tarpola ( analogous to payola) these bunko artists is claimin' a profit?

Y'all know it is all a shell game, doan pretend ya' doan't know that.

Ya gotta know it.

How does printin' a stack of greenbacks make 'em real? Iffin't they ain't real, how long will folks take 'em? how long afore ya need a new buggy but the buggy dealer wants a pair of cows in exchange?

What's paper money in the first place? Does the paper money of North Korea sound like somethin' to stuff in yore sock? Money be's a symbol fer somethin' real--like a chunk o' gold, back in the gold standard days. Fer y'all babyfaced readers, can ya believe thar' onc't wuz a time when Uncle Sam kept an weight of gold in the basement fer every dollar printed? That paper dollar was only a convenient symbol of gold on hand. After we ditched the gold standard, the only thang behind that green paper was the integrity of the US gubmint. Ooops.

Now a dollar ain't a symbol fer much more than international hilarity.

Here's how the bankers is hornswogglin' us: they ain't puttin' $ in the usual loan to reserve kitty. I mean ter say that banks is usin' the set-aside reserves on the wrong side of the sheet- to make it look like PRESTO! new "profits." Suppose you an yore sweetie have a house rule to save 10% of yore yearly income ( if ya still have any). Now imagine that one year yore income falls short ( heh, yeah imagine that) but ya doan want him/her ter know it, so ya fling out state of yore union sheet that shows status quo or even some profit because ya loaded in that 10% piggy bank wuz holdin'.

Oh, an doan fergit the new accountin' rules of 2009 (fer banks only--us'uns has to follow the same ole' rules when reportin' to Uncle Sam). Them new rules allow the banks to report their assets/loans/ losses in a creative new accountin' method.

Doan be fooled. Man up, now.

Looky, banks hold paper --50% is mortgages. Morts on houses, offices, apartment buildings, shoppin' centers, university dorms, warehouses, farms...
an 40% of the value of these mortgages is gone wif' the wind.



Now the Piper has his hand out...

One fourth of US homeowners is "upside down" on they mortgages. That means the banks is upside down too. Most think on residential real estate when they think "real estate bubble," but the commercial market is a bloodbath. Default on commercial property assets is TEN TIMES greater now than this time last year. Ten times in ONE year?? See? it is impossible fer banks to be turnin' no profits.

One fourth of all credit scores fer individuals is south of 600. Doan know how that affects consumer confidence but it cain't do much fer retailer confidence.

But the Federal Reserve elves keep painting green on paper in the basement.

People, please. Can stocks "do okay" in a nation whar' the bankin' system is a fraud? This is a serious question I'se askin'. Heck, even Transparency International dropped us on our behinds--USA does not even rank in the top 20 of "least corrupt nations."

So, me an Uncle.

He thinks I'se looney. I want oil. Oil futures. Doan wanna keep our measly remainin' greenbacks in the mattress. I say it is VFI to git this right.

Not gold. Not silver.

When the Global War For Resources begins, it ain't gonna be usin' gold.

War means oil.


fishy said...

You is right as rain about the
Great Banking Bamboozle of 2010.
They's doing a whole lot more than creative accounting and thinking.

You ain't going to be stockpiling no oil in your mattress nor under the camelias either. When you get down to it any papers saying you got rights to oil don't stand up against no Uzi.

I agrees with you about the don't bother with the gold and silver. I agrees with you iffen there is to be any security it's going to be in what directly sustains a body.

Me in Blowfish is horn tangled too.
I think we need to organize two main ways:

Blowfish thinks this is a mite simplistic. I think he 's a simpleton. Makes it hard to be peaceable around here fer shure.

Lookout now Aunty and don't go having no seizure in December when them greedy theiving bankers start passing around the multi million dollar bonuses to theyselves for another boom year of stealing our money! They has to do it afore the tax changes kick in. Itsa gonna be huge! They done swindled America and the current White House slimes have orchestrated every bad note.

Doncha admire them Frenchy's for taking to the streets? We Americans have gone to mush. It's shameful.

Anonymous said...

French took to the streets for the wrong reason. Greedy frogs don't want to work past 60.

moi said...

Oops, is right.

Me? I like guns and ammo.

fishy said...

Reckon I dint make my point.
I am not admiring the reason the Frenchy's took to the streets.
I AM admiring they will take to the streets bout what they believe is right.

Karl said...

Good afternoon Aunty Belle,

Oil is smoke and mirrors too. The run-up to all $148 a barrel back in 08 was artificial. And it was the tipping point that brought the whole house cards down. People had to make the decision whether to pay their mortgage or fill their tank to get to work. Once that happened it went to a low of $33.00 a barrel. Right now it's on an artificial high created by the stock market. Data on usage or the inventories don't support the highs we're seeing right now.

Aside from guns and ammo, investing in water may be the course for the long range visionary.

Joanna Cake said...

It's all going tits up over here too! Gordon sold our gold at rock bottom prices and the bankers just pay themselves bonuses with the public money used to bail them out - and no one does anything about it. The regulators are all employed by those they are supposed to be regulating.

It's all wrong!