Gov’t Buys Up Freeze-Dried Food

I’ve just learned that our government has bought up all the remaining and future freeze-dried food production (through 2009) of Mountain House. [link]

Mountain House, AKA Oregon Freeze Dry, was founded in 1963. From their web site:

…located on a 35 acre site in Albany, Oregon, and employs over 250 people. The company has three manufacturing plants… Collectively, these plants represent 32,000 square feet of freeze-drying capacity – over 60% of the freeze-drying capacity in the US.

In addition, the Internet Grocer is reporting the gov’t has bought an entire ship container load of their canned butter.

Looks like someone’s expecting trouble with food supplies…

Apollo Astronaut Admits UFO Cover-Up

Apollo Astronaut Edgar Mitchell Claims UFO Cover Up

More news that never sees the light of day in these United States!

Edgar Mitchell, Apollo 14 moonwalker, surprised British radio listeners last week when he admitted he has been aware of alien contact with earth that has been covered up for the last 60 years. He says “Roswell was real” and that he expects “real disclosure will occur soon.”

The respected British newspaper, The Telegrapgh, reports:

Dr Edgar Mitchell, said he was aware of several UFO visits during his career, but each one had been covered up.

The 77-year-old, who was a crew member of the Apollo 14 mission, said sources at the space agency had described aliens as resembling “little people who look strange to us”.

Dr Mitchell told Kerrang! Radio that human technology was “not nearly as sophisticated” as theirs and had they been hostile, he warned: “We would be been gone by now”.

“I happen to have been privileged enough to be in on the fact that we’ve been visited on this planet and the UFO phenomena is real.

“It’s been well covered up by all our governments for the last 60 years or so, but slowly it’s leaked out and some of us have been privileged to have been briefed on some of it.

“I’ve been in military and intelligence circles, who know that beneath the surface of what has been public knowledge, yes – we have been visited. “

Read the whole article here. Listen to the whole radio interview on Youtube for his comments regarding Roswell and official disclosure.

I have done extensive research into the UFO/alien subject and am convinced Dr. Mitchell is telling the truth. He’s also not telling much of what he knows.

History Made: US Fed Reserve to be Audited by IMF

Here’s something else that’s not being reported here in the U.S.: The German paper Der Spiegle reports the the International Monetary Fund (“IMF”), founded in 1944 to oversee the global financial system, has doubts about the US Federal Reserve. They want an audit. The US has never before been audited.

In the past, the chairman of the Federal Reserve was a pope among the priests of the financial elite. But unlike his predecessor Alan Greenspan, Bernanke is finding that his policies are not universally accepted, even within the Fed.

The last seven decisions reached by the Federal Open Market Committee, which sets monetary policy, were accompanied by a growing number of dissenting votes. Bernanke’s critics say that with his policy of cheap money — in other words, recurring rate reductions — he in fact helped fuel the inflation problem he is now trying to combat.

Officials with the International Monetary Fund (IMF) have informed Bernanke about a plan that would have been unheard-of in the past: a general examination of the US financial system. The IMF’s board of directors has ruled that a so-called Financial Sector Assessment Program (FSAP) is to be carried out in the United States. It is nothing less than an X-ray of the entire US financial system.

As part of the assessment, the Fed, the Securities and Exchange Commission (SEC), the major investment banks, mortgage banks and hedge funds will be asked to hand over confidential documents to the IMF team. They will be required to answer the questions they are asked during interviews. Their databases will be subjected to so-called stress tests — worst-case scenarios designed to simulate the broader effects of failures of other major financial institutions or a continuing decline of the dollar.

Under its bylaws, the IMF is charged with the supervision of the international monetary system.
 
US President George W. Bush… has only given the IMF board his consent under one important condition. The review can begin in Bush’s last year in office, but it may not be completed until he has left the White House.
 
Is Bush worried about what might be found? Of course, you remember I told you 18 months ago he has purchased a 100,000 acre ranch in Paraguay. Paraguay’s extradition treaty with the US was changed a few years back to disallow “politically motivated” extradition of criminals. His daughter, Jenna, has been down there to meet the President of Paraguay.
[link to Britain’s Guardian article.]
[link to US/Paraguay Extradition Treaty. See article 4 section 2 (page 15) for the “political exemption”.]
 
I used to love this country, now I feel like I have to apologize to the world for our actions.
 
◊◊◊◊ Now: Gold @ $919.60, Silver @ $17.39, USDX @ 73.24 ◊◊◊◊

Middle Class Will Get Wiped Out

Rich Dad, Poor Dad

Robert Kiyosaki (author of the famous “Rich Dad, Poor Dad” series of books), and his precious metals adviser Mike Maloney, have some interesting observations and predictions for gold and silver for 2008.

Some choice quotes from the video on YouTube:

Cash is trash. Gold and silver are God’s money, God made it.”

“Historically, throughout time, there’s a depression every 75 years. The last one was in 1930. So we’re right on it, right now. And the rich will get richer and the poor and middle class will get wiped out.”

“If the US dollar has to go back to gold-backed, you’re looking somewhere well north of $6,000/oz.”

“From 1971 to 1980 gold went up 24 times its starting price in 9 years.”

“From 1971 to 1980 silver went up 39 times its starting price in 9 years.”

“If you had just 10% of your net worth in gold and you LOST the other 90%, by 1980 you were 2.4 times richer than you were in 1971. With just 10%!”

“That puts us in the second phase of this gold/silver bull market. Phase 1 is sort of the stealth phase where it’s quiet accumulation. Then the second phase is usually the longest duration and the greatest growth. And the final third phase is the blow-off top where the market just goes vertical.”

“You remember the NASDAQ in the last three months of 1999? It just went vertical. The public and everybody rushed into it. And they all got slaughtered. The herd always comes rushing in at the end, and that’s the time you wanna sell.”

“You don’t wanna hold onto gold and silver forever. You wanna hold onto it until a median-price single family home costs less than 40 oz of gold or less than 500 oz of silver. Then you wanna trade your gold and silver for real estate–cash-flow real estate.”

Note from Scott: You can find the “median price single family home” data here. Look in the right-hand column titled “Housing Indicators.” It’s at $208,600 right now. That’s 224 oz of gold and 11,866 oz of silver.

“There is 8.3 times as much gold today as there is silver. Poland has 25% of the world’s silver.”

Silver is the biggest opportunity I have ever seen. Bigger than real estate, bigger than anything else.”

“I think somewhere on this big inflation we’re going to have one (short-lived hyper-) deflation that will wipe out people that are too highly leveraged who don’t have any gold or silver. “Savers” will be wiped out. “Spenders” will be wiped out.”

“(The US Fed and Euro Central Banks) have already shown their hand. You’re going to see this crash and then inflation like we’ve never seen. So it really works for us [Scott’s note: Robert currently owns many rental apartments] because we’ll be collecting the rent but then we’ll be paying off those deadbeat loans of ours with cheap (inflated) money. That is the strategy.”

“The good news? I believe you can set aside $8,000 now, buy silver, and in a few years you will be able to buy a median-price home with those 500 ounces.

Special note to my friends reading this (you know who you are): go to your safe and grab hold of five of your 100 oz silver bars. In a few years that’s a house. Grab another five. There’s a house for your oldest child. Quite a wedding present, no? Doesn’t it feel good?

You Have No Idea

 

 

 

◊◊◊◊ Now: Gold @ $932.40, Silver @ $17.58, USDX @ 72.74 ◊◊◊◊

Ron Paul Warns of “Big Events” Coming

Ron Paul, Texas Congressman and former presidential candidate, warned Congress last Thursday of an impending “Big Event.” He warned of “chaos about to be unleashed” on economic and political system by globalist intervention and world empire.

Steve Watson, InfoWars.net

Texas Congressman Ron Paul has warned the House that he is “convinced the time is now upon us that some Big Events are about to occur” that will cause liberty to go “into deep hibernation.”

Paul told the House: “These fast-approaching events will not go unnoticed. They will affect all of us. They will not be limited to just some areas of our country. The world economy and political system will share in the chaos about to be unleashed.”

“There are reasons to believe this coming crisis is different and bigger than the world has ever experienced. Instead of using globalism in a positive fashion, it’s been used to globalize all of the mistakes of the politicians, bureaucrats and central bankers.” Paul continued.

In one of Paul’s most memorable speeches to date, the Congressman spoke of rampant authoritarianism having replaced the principles of liberty that the United States was founded upon and warned that current empire building financed through inflation and debt signals a most frightening period in history.

“Our arrogance and aggressiveness have been used to promote a world empire backed by the most powerful army of history. This type of globalist intervention creates problems for all citizens of the world and fails to contribute to the well-being of the world’s populations. Just think how our personal liberties have been trashed here at home in the last decade.” Paul urged fellow representatives.

[more…]

You Have No Idea

◊◊◊◊ Now: Gold @ $921.40, Silver @ $17.35, USDX @ 72.76 ◊◊◊◊

Is My Bank Gonna Croak, Too?


With the second-largest bank failure in US history, IndyMac last week, are you wondering if yours is gonna go next?

IndyMac Bank RunThe FDIC admitted they have 90 banks currently on their “watch list.” (No, they won’t let you see the watch list. They don’t want a panic.) 

In March the Federal Reserve added over 150 new bank examiners to their staff, anticipating a wave of failures.

Short of getting your hands on the “watch list” what can you do?

  1. Check out the FDIC’s list of failed banks here. (Five so far this year.)
  2. Check out your bank’s “Texas Ratio.” If it’s over 100 they could be going down soon. (The “Texas Ratio” is the ratio of a bank’s assets and reserves to its non-performing loans. The lower the number the better.)
  3. Look at your bank’s “Uniform bank Performance Report” here. If they’re loaded up on derivatives watch out.
  4. If your bank shows up on a list of troubled banks, move fast (it only took 10 days for IndyMac Bank to fail)
  5. If your bank, brokerage firm or finance company has a stock price of $10 a share or less, try and cut your exposure
  6. If the stock price is $5 or less, proceed as if the company’s days are numbered and get your money out.
  7. If a bank or brokerage firm has publicly denied rumors more than three times, consider them desperate and run. (Bear Stearns did this two days before they died.)
  8. If you ever hear a government official come out and say that an institution is fine, you know it’s time to get your money out because history shows they’re likely lying.  Look what happened with Fannie and Freddie.  The government said everything was fine right up to the day the US Treasury dropped the biggest government bailout of all time on the American taxpayer.
  9. Don’t expect anyone in a position of authority (government, business, mainstream media, etc.) to tell you the truth about how safe your bank is.
  10. Is your bank listed on this report of troubled banks provided by Research Assoc of America:

    Bank

    City

    State

    “Texas-ratio”

    Colorado Federal Savings Bank

    Greenwood Village

    CO

    244.8

    Eastern Savings Bank, FSB

    Hunt Valley

    MD

    222.7

    Integrity Bank

    Alpharetta

    GA

    191.6

    Ameribank, Inc.

    Welch

    WV

    153.7

    First Priority Bank

    Bradenton

    FL

    122.6

    First Security National Bank

    Norcross

    GA

    112.1

    Magnet Bank

    Salt Lake City

    UT

    110.4

    Security Pacific Bank

    Los Angeles

    CA

    102.8

    First National Bank of Brookfield

    Brookfield

    IL

    102.1

    The State Bank of Lebo

    Lebo

    KS

    100.6

You Have No Idea

◊◊◊◊ Now: Gold @ $960.00, Silver @ $18.56, USDX @ 72.09 ◊◊◊◊

What’s Coming to Your (My) Town Soon?

Anatomy of a bank failure: When the liquidators come calling

Damian Paletta
Wall Street Journal
— At 7 p.m. on Friday, Mayor Chris Etzler walked through the back door of First Integrity Bank. The lobby should have been closed for the weekend, but dozens of strangers in dark suits were bustling about with laptops and file boxes. Someone had just delivered 32 pizzas.

Dan Walker, a top official with the Federal Deposit Insurance Corp., a Washington, D.C., bank regulator, had summoned Etzler to explain what was going on: The FDIC had just taken over First Integrity.

“All the deposits are safe,” Walker tried to reassure the mayor. “Nobody is going to have any problems.”

It isn’t easy for 75 federal officials and contractors to slip into a small town undetected and liquidate an 89-year-old bank without anyone knowing. But that’s what just happened in this old railroad town, population 3,200. It’s a scene that’s likely to repeat itself across the country as banks struggle through a painful credit cycle, overwhelmed by troubled mortgages and soured construction loans.

First Integrity, which had two branches and $55 million in assets, was the fourth FDIC-insured bank to fail this year. That’s one more than during the entire three-year stretch leading up to 2008. Some analysts predict that as many as 150 banks, mostly small and medium-size, could fail over the next three years.

In its role as receiver for failed banks, the FDIC acts as a SWAT team, playing equal parts secret agent, medical examiner, salesman and grief counselor. The first 48 hours are typically the most frantic, as the agency must turn a failed bank inside out and oversee its sale — or its orderly burial.

Secrecy is paramount to prevent a panic among the locals and a run on the bank. That could sink a bank and lead to runs on neighboring institutions. Banks only retain a percentage of their deposits in cash, and use the rest for things like loans, which means they don’t have enough money on hand if everyone demands their deposits back at once. Created after the Great Depression to prevent such scares, the FDIC insures deposits at more than 8,000 banks, covering up to $100,000 per depositor in most cases.

To keep a low profile, FDIC officials often use personal credit cards while in town. Many will tell curious strangers they work in insurance. In the case of First Integrity, Mr. Walker rented a conference room in a town 30 minutes away for a meeting of “Robinson & Associates,” and a sign near his hotel’s front door welcomed the fictitious company.

The FDIC allowed a Wall Street Journal reporter to go along with its team in Staples this past weekend, offering a rare window into a little-known government task force.

Despite the military-style planning that goes into taking over a bank, things can go wrong. Once, a local motel guessed the feds were coming and put up a welcome banner on the marquee. Another time, FDIC officials hired a hypnotist to get a confused bank employee to remember the vault code. Sometimes, locals pull up lawn chairs and watch from across the street.

Walker, 61 years old, has been a part of 10 bank closings, but First Integrity was his first time in charge. Before becoming a regulator, he spent four years in the Army and 12 in the Texas National Guard.

In late April, Walker flew to Minneapolis to plot a strategy in case the bank failed. The FDIC knew First Integrity was in trouble because its capital reserves had evaporated, and the delinquent loans on its books more than doubled in 12 months. Many of the bad loans were tied to Florida real estate. The FDIC is still sorting through the bank’s records and wouldn’t elaborate. David Duhn, the former president of First Integrity, didn’t return calls for comment.

On that first trip, Walker visited the bank’s headquarters in Staples. He then drove seven miles east to First Integrity’s other branch in the tiny town of Motley, to get a feel for its layout and size. He strolled in and asked to exchange a couple of dollar bills for commemorative state quarters. The teller obliged. He took a look around. And then he left.

As First Integrity’s health worsened, the bank was unable to find a buyer. Regulators picked a date to swoop in. Ken Jarzombek is an FDIC official in charge of all the groundwork for a takeover team, from acquiring printers to ordering pizzas. He called the Todd County sheriff’s office and notified them that a “government agency” could be coming to town and would pay deputies overtime to assist it. Jarzombek has worked on about 60 bank failures and says law-enforcement officials often try to push him for specifics. “I try to beat around the bush,” he says.

On Wednesday, Walker and other top FDIC officials flew in. They set up a base in a hotel in Baxter, not far from Staples. They recorded the estimated drive time to Staples and scouted for a place to park 50 rental cars.

A onetime railroad and lumber town in central Minnesota, Staples is now a shadow of its vibrant days. The old opera house closed decades ago, and the town is working to refurbish its main landmark, a train depot across the street from the bank. Todd County is one of Minnesota’s poorest areas, and some residents say First Integrity’s failure will be another tough chapter in their history.

On Thursday, a local newspaper, the Staples World, printed an article about the troubled bank and raised the possibility it could be liquidated. Walker was alarmed; this could cause a panic. An FDIC official stationed inside the bank monitored the lobby. Only when it was clear customers weren’t swarming the place did regulators relax.

Friday morning, minutes after First Integrity opened for the last time, Walker sat in his hotel’s conference room and watched the other FDIC officials file in. He waited for someone to close the door before he spoke. “Is anybody in here not supposed to be at a meeting of Robinson & Associates?” he asked. No one said a word.

There was little room for error. A Watford City, N.D., bank, First International Bank & Trust, had tentatively agreed to acquire roughly 75 percent of First Integrity’s assets, worth about $36 million, and all of its deposits, for a premium of $2 million. The FDIC would retain the loans and assets First International didn’t want, and try to collect as much of the loans outstanding as possible. First International planned to open the lobby Saturday morning to assuage the community.

Late in the afternoon on Friday, Walker and a few others began the 30-minute drive to Staples. They walked into the bank and began the formal proceedings. Officials from the Office of the Comptroller of the Currency, a division of the Treasury Department, revoked First Integrity’s charter and appointed the FDIC as receiver.

Walker went into the lobby and introduced himself to the shaken staff. “We understand what you are going through,” he recalls telling them. No one asked questions, and Walker offered one warning: “It’s going to be crowded,” he said.

The rest of the FDIC officials then swarmed in. Armed sheriff’s deputies moved to the doors to stand guard. FDIC officials put tape on some interior doors to prevent them from automatically locking.

By the time the mayor arrived, the agency had already restored access to the automated-teller machine for depositors and changed the bank’s Web site. The vaults were secure.

A crowd of people stood on the sidewalk across the street at a bar called Gary’s Place — a rumor was spreading about a bank robbery. Once they learned deposits were safe, most went back inside.

“We’re going to be out of here as fast as we can,” Mr. Walker told the mayor, Etzler, who had rushed over from his daughter’s high-school graduation. “It will just be a brief blip in history — that’s it.”

Etzler looked relieved. “Just the uncertainty and the questions that have been floating around, to get some finalization to it,” he said.

Some FDIC officials stayed at the bank until 1 a.m. Saturday morning, and many returned seven hours later. By Sunday, almost all of the bank’s files were in boxes and the vaults were being cataloged.

Local residents said the FDIC officials seemed to come out of nowhere. “I didn’t know they were coming, but we knew when they were here,” said Becky Hasselberg, 58, who has lived in Staples her whole life. “People in suits and ties walked into the coffee shop. They weren’t too casual.”

Monday morning the bank reopened. A temporary sign out front read “First International Bank & Trust — Member FDIC.”