Wednesday, May 23, 2012

Keiser Report: Scatological Finance

May 22, 2012 by

In this episode, Max Keiser and co-host, Stacy Herbert, discuss naked short selling by Goldman Sachs and piling on JP Morgan all while being hounded by a Fox News helicopter. In the second half of the show Max talks to Francine McKenna of reTheAuditors.com about Jamie Dimon, London whales and MF Global.

Alex Jones - A philosophy of Liberty

Alex discusses stories like posted earlier today, amongst other issues.

May 22, 2012 by On the Tuesday, May 22 edition of the Alex Jones Show, Alex talks about the continued outrages of the TSA as its goonish Gestapo gropers and sexual molesters are now trained to feel up crotches for terrorist bombs following yet another zany al-Qaeda bomb plot. He also takes a look at the video of a school teacher who launches into an irrational tirade after a student dares to make a mild criticism of Obama. Alex updates the latest on Obama's Kenyan birth and covers cops gone wild as they confiscate money from motorists and other shakedown operations.

William Black on JP Morgan and the Failure to Regulate Wall Street Fraud

May 22, 2012 by

Third World USA - Beggars with Guns

Cops confiscate cash on Tennessee highways

 
I can only imagine what would have happened to the poor bugger in the following story if he had said he had a "monster box" of US Silver Eagles in the car (value: $15,645)? Tasered to death no doubt for daring to carry Constitutional Money. Although he might have got lucky and the cop, only every being paid in fiat paper tokens wouldn't have recognised that silver is money and assumed it was some worthless industrial metal.

This story typical of all Third World countries.It reminds me when I was traveling in Thailand in 2004. I was driving on a 4 lane divided highway in Southern Thailand about 2am, I was the only car on the section of road that I was on and in the distance I saw a person standing the middle of my lane with a red torch wand (like cops use in NSW to pull you over for drink driving checks). I wasn't speeding (well not by Thai standards), but like a good citizen I took my foot of the accelerator and started slowing down. My Thai relative in the passenger seat turned to me aghast and said "คุณกำลังทำอะไร? คุณกำลังชะลอตัวลงทำไม? ตำรวจเพียงต้องการที่จะหยุดคุณจะเรียกร้องเงิน ให้ไป ความเร็ว" (What are you doing? Why are you slowing down? Police only want to stop you to demand money. Keep going. Speed up!), being a well educated country girl she no doubt added some colourful adjectives and references to penned farm animals, but you get the picture. As we passed the cop doing about 160km/h (100 miles/hr), he had the good sense to no longer be standing in the middle of my lane, she exclaimed "พวกเขาเป็นเพียงขอทานที่มีปืน" (They are just beggars with guns). At which point I hoped she was right as I was not sure my Thai made Honda could have outrun the cop's old Australian made General Motors V8 Commodore.


From RT.com 

Original source

A New Jersey man was recently pulled over for speeding in the state of Tennessee. Although George Reby drove off without be charged with a crime, he was instantly $22,000 poorer.

"If somebody told me this happened to them, I absolutely would not believe this could happen in America,” Reby tells Tennessee’s News Channel 5 during an interview earlier this month.

Once you hear his story, you might say the same thing.

Reby was traveling across state lines with 20 grand in cash because he was looking to purchase an automobile he saw on the online auction site eBay. That cash was in his possession when Officer Larry Bates of the Monterey Police Department pulled him over for speeding. According to the cop, having the money just didn’t seem right.

When Officer Bates asked Mr. Reby what he had in the car, he told him the truth: there was $20,000 in cash in a bag.

“Then, at the point, he said, 'Do you mind if I search your vehicle?' I said, 'No, I don't mind.' I certainly didn't feel I was doing anything wrong. It was my money,” Reby tells the station.

Bates didn’t believe Reby’s claim, though, even though the driver offered to show proof on his computer.

“I had active bids on EBay, that I was trying to buy a vehicle. They just didn't want to hear it,” says Reby.

Bates explains to News Channel 5 that, during training, police officers are told, "common people do not carry this much U.S. currency." Under those alleged instructions, he took it upon himself to confiscate all $20,000.

"The safest place to put your money if it's legitimate is in a bank account," Officer Bates lectures the station." He stated he had two. I would put it in a bank account. It draws interest and it's safer."
 

(Tears: LOL, if US banks are so safe why do they have to be insured by the FDIC against collapse? So safe that 22 US banks have already failed this year. As for US interest rates, cash management accounts are paying a huge 0.8%. Yes that is $8 per $1,000 invested (less taxes and inflation), that should set you up nicely for retirement).

Reby, however, doesn’t operate like Bates. Not only was Reby never charged with a crime, but it took him four months and another trek to Tennessee to eventually recover his money.

When News Channel 5 caught up with the officer, his explanation for the seizure seemed as ridiculous as Reby claimed.

Prompted for a reason for not arresting Reby, Bates told the network, "Because he hadn't committed a criminal law.”

Bates extrapolated by saying, "No, it's not illegal to carry cash," but, “…
it's what the cash is being used for to facilitate or what it is being utilized for."

The cop decided that the money could have been tied to drugs, but Officer Bates willfully admits to News Channel 5 that he couldn’t prove it.

And for Reby’s defense? Bates tells the station, “He couldn't prove it was legitimate.”

"You live in the United States, you think you have rights – and apparently you don't," says Reby
. Luckily for him, he was able to pursue the case with the help of an attorney. Drivers in Tennessee and other states aren’t necessarily as lucky, though.