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Friday, July 17, 2009

President Obama Has Been Swarmed By The Huge Financial Beehives

I heard a story from a gas company technician about a massive hive of bees that swarmed him. He was standing still when he saw a queen bee leave what he assumed was a meadow hive leading a giant swarm of bees numbering in the thousands. He said it was a huge black cloud of bees that weaved all around as it approached him. The giant swarm came toward him, encircled him, and then, led by the queen, took off into the distance.

This is what has been happening to the average person in the United States. Since Reagan, the financial beehives have been building their worker bee populations in order to go out upon the planet seeking grains of pollen. The pollen consists of the people’s financial wealth.

We have seen a Goldman Sachs beehive, as well as a CITI hive, a BoA hive, and the list goes on. Instead of just a localized, unassuming tree hanging hive, they built fortress hives. The chair queens not only had worker bees, but operative bees that trained the busy little worker drones in the process of finding grains of pollen from the most barren and questionable sources, as well as from the common and plentiful sources.

The worker bees were shown that pollen could be discovered in the open market fields where there could be found a plethora of blooming wealth of flowering capital sources ready for the picking. And, there was nothing to stand in their way.

The worker bees also found usable flowering capital under many rocks and stones, of which they overturned to pluck for the taking.

The chair queens created a syndicate. They would meet together in secret plotting and developing ways to take the pollen grains and brew securitized and “derivativized” nectar formulas to feed all the worker bees motivating them to gather up more and more pollen grains. They were even encouraged to keep a portion of the nectar brew to sell or use for themselves.

The leader of all the land, which had been picked by the leading chair queens, began getting supplied with all the nectar he could get away with. This would ensure the control by the chair queens over the pollen gathering processes. This man was President Obama. The leading and most powerful chair queen was one who ran the Goldman Sachs hive. This chair queen told President Obama that he would be bringing key GS hive operators into his command and control center. The list of key operator bees was numerous. They were instrumental in training operators that swarmed the congress of the land, as well as many other agencies, facilities, and companies.

The goal of all these operators was to make sure that even the pollen stored inside the Treasury of Pollen would end up in the various hives, but mostly in the deep storage module vaults of the GS hive, AIG hive and the CITI hive.

The danger that occurred was that President Obama had placed in charge of the people’s Treasury of Pollen a key GS hive operator. This operator, a high level worker bee, had a fellow pollen-syndicate operator in charge of the Federal Reserve of Pollen Grains. He devised a technique that took a grain of pollen and repeatedly split it into numerous grains diluting the original value of that grain but which still could be made into nectar, although watered down in many respects. Therefore, it no longer had the same potency and “nutritional value” when used requiring more to supply the typical daily requirements of nectar.

The people, who worked hard to plant the seeds, toiled the land using their bodies and minds to cultivate the plants and crops that provided the blossoms and flowers, and ultimately, the seeds that produced the pollen, which the worker bees took at will. There were no rules or regulations set upon the worker bees because if the people’s representatives did not play the game the way the chair queens wanted it played, then they would be attacked by the swarm with repeated stings removing them as an adversary to their greed-based objectives.

After decades of the people laboring over their fields of flowering plants and crops, the worker bees took so much pollen so quickly that the plants could not pollinate each other because the pollen was not being used to propagate the land with new and improved crops and plants, but to steal the pollen to produce nectar inside the hives. In other words, the chair queens and operators wanted all the pollen grains for themselves.

This resulted in fewer crops and plants to find pollen grains. The hives had to lay-off worker bees, and the field hands no longer were able to grow as many crops and plants for the purpose of producing seeds for the following planting season. The overall economy of the land fell into collapse. In the past, the people had lots of fruits, flowers, beans, nuts, seeds, and grains to keep the economy thriving. It thrived too much and the nectar brew began to overheat. The process of splitting the pollen grains to produce the diluted “nectarized” securities and derivative formulas ended up causing a great fire from an unregulated fermentation process destroying all that had been stored and saved.

The frightened chair queens ended up going to the Federal Reserve of Pollen Grains and President Obama’s key chair queen operative inside the Treasury of Pollen demanding they turn over all their stored grains to them, otherwise the hives will self-destruct and disappear leaving only the small beehives hanging throughout the fields, valleys, mountains and villages. The chair queens painted a bleak and grim future if they were not in control of the pollen grains.

The disappearance of the giant hives would have been good in the long run because the local people would have a more sustainable relationship with the bees, the crops and plants. The chair queens were afraid of this occurring removing them from the wealth-gathering process of stealing pollen grains from the people.

The sustainable scenario did not happen. The chair queens won out because President Obama favored them over the needs and survival of the people. What would be needed is for President Obama to authorize his command center to go out and use a potent and effective, as well as long lasting, bug defogger on all the massive hives that had caused the collapse in the first place!

The sequel has yet to be made. Stay tuned.

thanks for reading, jerry


SPECTRE of Deflation said...

Jerry, add another one from GS to the swarm. GS gets the finest govt. they can buy. We on the other hand are hosed.

Goldman Executive Named as Obama Adviser

Published: July 18, 2009

President Obama said Friday he would nominate Robert Hormats, a vice chairman of Goldman Sachs International, to a top economic position at the State Department. Mr. Hormats, 66, will be under secretary of state for economic, energy and agricultural affairs. He was deputy trade representative from 1979 through 1981 and held other posts at the State Department throughout his career. Hillary Rodham Clinton, the secretary of state, said in a speech on Wednesday that she hoped to make economic policy and trade a larger part of United States diplomacy.

SPECTRE of Deflation said...

Jerry, I also meant to mention that China had it's third failed
bond auction this past week. If they must soak up their own bonds, guess who's Bonds don't get bought?
Tie this into the article, "it's not a recession, it's a collapse", and you get one fugly debacle in it's early stages. I won't even mention CRE and commercial paper (GULP!).

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SPECTRE of Deflation said...

The Carpenters song, "we have only just begun", comes to mind,as these new figures are mind boggling:

U.S. Rescue May Reach $23.7 Billion, Barofsky Says (Update1)

By Dawn Kopecki and Catherine Dodge

July 20 (Bloomberg) -- U.S. taxpayers may be on the hook for as much as $23.7 trillion to bolster the economy and bail out financial companies, said Neil Barofsky, special inspector general for the Treasury’s Troubled Asset Relief Program.

The Treasury’s $700 billion bank-investment program represents a fraction of all federal support to resuscitate the U.S. financial system, including $6.8 trillion in aid offered by the Federal Reserve, Barofsky said in a report released today.

“TARP has evolved into a program of unprecedented scope, scale and complexity,” Barofsky said in testimony prepared for a hearing tomorrow before the House Committee on Oversight and Government Reform.

Costs include $2.3 trillion in programs offered by the Federal Deposit Insurance Corp., $7.4 trillion in TARP and other aid from the Treasury and $7.2 trillion in federal money for Fannie Mae, Freddie Mac, credit unions, Veterans Affairs and other federal programs, he said.

Barofsky offered criticism in a separate quarterly report of Treasury’s implementation of TARP, saying the department has “repeatedly failed to adopt recommendations” needed to provide transparency and fulfill the administration’s goal to implement TARP “with the highest degree of accountability.”

As a result, taxpayers don’t know how TARP recipients are using the money or the value of the investments, he said in the report.

The Treasury has spent $441 billion of TARP funds so far and has allocated $202.1 billion more for other spending.

SPECTRE of Deflation said...

Any further down the rabbit hole, and we hit China:

Gov paying over a half million dollars a pound for sliced ham?

SPECTRE of Deflation said...

Jerry, here's Karl's take on the $23.7 Trillion Dollars we very well could be on the hook for:

Ex-freaking-scuse me?

Barofsky said that while the TARP program that Congress passed amounts to $700 billion, the total federal government support since 2007 for the economy and the financial sector could reach a far higher figure of $23.7 trillion. The government has committed significantly more money through a variety of other federal agencies and programs.


$23.7 trillion dollars?

Where was the Congressional appropriation for that?

This is blatantly unconstitutional folks. We're talking about nearly double the nation's GDP in debt commitments and more than 33 times the amount authorized by Congress.

Oh, and it gets worse:

Meanwhile, Barofsky's office has opened 35 criminal and civil investigations into issues including suspected accounting fraud, securities fraud, insider trading, mortgage servicer misconduct, mortgage fraud, public corruption, false statements and taxes.

That's right, we have 35 criminal investigations connected to this nearly $24 trillion dollars of largesse too, and that's only what Mr. Barofsky knows about. Anyone care to gander about what's hidden from him? Oh wait - we got a problem there too:

"Treasury’s continued unwillingness to provide basic transparency despite the many recommendations of SIGTARP and Congress and the repeated demonstration that meaningful data from TARP recipients can be gathered and easily disseminated is unacceptable," said a memo prepared by Republicans on the oversight committee.

Hello Richard Nixon! Bailoutgate anyone? Obstruction?

Shall we continue?

This is outrageous and threatens the very stability of our nation. How anyone can believe our banking system or indeed our nation's Treasury can survive the exposure of $24 trillion dollars, twice our GDP, is beyond me.

We most certainly cannot, and when (not if) our creditors and lenders, including China and Japan, wise up to what's going on here the game will quite literally be over, perhaps as soon as "right now."

A couple of market technicians have noted certain "patterns" in the market that have potential downside targets of zero. That sort of thing normally results in a loud guffaw from me - even though I'm bearish I'm not that bearish - I couldn't imagine anything short of global thermonuclear war, ala "Joshua", that could lead to such an outcome.

Well I think I just found something purely economic that could lead to that outcome, and its right here.

Congress is all we have left - they need to take control of this problem right here and now, revoke the authorization for this ersatz spending commitment immediately, and appoint a whole passel of special prosecutors to start issuing indictments to everyone involved in this outrage.

We need cops and we need 'em right now before our creditors decide to cut off our credit card and destroy this nation's economy and government - a decision that they could make literally at any time.

SPECTRE of Deflation said...

Jerry, how's this for financial alchemy? When will the adults arrive?

Tuesday, July 21, 2009

No Kidding.... AAA to BBB- And Back To AAA Within One Week

Looks my rare praise of the rating agencies ( see No Kidding..... S&P Is Acting Responsible & Threatens To Blow Up Fed´s CRE Bailout Stunt Via TALF ) was as feared premature..... You really cannot make this up..... This is definitely a new low ( even for S&P ).... Thank god the TALF loans are non-recourse, the CMBS were sold near the top in 2007 & the CRE complex is in fine shape ( see No Green Shoots For Moody's REAL Index )......Clearly no risk for the taxpayer..... Let´s hope Bloomberg is right that the change is only related to three 2007 CMBS tranches......UPDATE: S&P Commits Professional Suicide With Ratings Round Trip, Underlying CRE Remains Toxic Garbage via Zero Hedge & .July 22nd, 2009S&P upgrades CMBS to AAA week after downgrading to BBB- R. Winkler....

carlandjerry said...


I am finally getting back with you on all your SNIPS and opinions. Thanks much for all of them.

In regards to health care, I don't believe, at this time, there is a proposal that will tread on you. What is being proposed by the Blue DogShit Coalition is the concept of health care coops. This is what the insurance companies would support because it would continue to take any buying power out of the hands of customers.

The coops would diminish buying power to negotiate reduced premium costs or drug costs because the coops would lack the real numbers. But, a public option would have the numbers to control costs in premiums and drugs.

Neil Barofsky is great. This special inspector general seems to be ready to go after the thieves and bust the crime syndicate open. Where do I send him money!

China's failure to have a successful bond auction shows where China is headed--downward.


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The worker bees also found usable flowering capital under many rocks and stones, of which they overturned to pluck for the taking.

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