TurtleSeuss

By Catherine Austin Fitts

My use of the word turtle as a verb began in 1998 during a period of extraordinary stress.

Almost all of my 1,001 best friends and colleagues decided to go with the flow of the financial coup d’etat. That meant playing along with the lawlessness towards our fellow man involved. I did not. I split away from the herd.

This made me a target.

Being a target is time consuming. I was ordered by a complex governmental matrix to do more work each week than I had hours to do or resources to fund. I faced a mountain of demands from parties who regularly ignored and broke the law. The double standards numbered in the hundreds, then thousands.  My name brand accountants lied and dirty tricked me. My name brand lawyers lied to me. Partners and employees lied and dirty tricked. Family members betrayed.  (Story here and gruesome details here)

The ultimate goal was to “kill, steal and destroy.” The process was brutal. There was no mercy and little kindness. The goal was to get me to kill myself or go mad and to so handicap me that I could be proved a “failure” in the eyes of the world.

Instead, I decided to “turtle.”

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***CAF Note: Hagel is competent. This is not good news.***

By Roger Runningen and Phil Mattingly

U.S. Defense Secretary Chuck Hagel is stepping down from his post after 21 months in office amid tension with the White House over policy and how it’s presented to the public, officials said.

President Barack Obama is scheduled to make an official announcement of Hagel’s departure at 11:10 a.m. Washington time. Hagel will remain defense secretary until a successor has been confirmed, a defense official said.

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[CAF Note: I suspect the recent meltdown by Bill Gross related more to his fears of managing the world’s largest bond fund in a world of diminishing dealer and institutional liquidity than personnel issues. Let’s see how the shift to electronic networks works. This is going to be very interesting. Most dangerous job in the world may be managing bond and derivative databases.]

by Peter Cotton

Here are some statistics from the recent Celent report on US Corporate bond trading.

  • As of January 2013, holdings of corporate bond inventories at the 21 dealers that trade with the Federal Reserve have declined by 74% to $56.4 billion since the 2007 peak.
  • Only 30 bonds a day have more than five trades on either side in institutional size with names changing all the time due to new issues, according to MarketAxess.
  • According to ITB, since 2009 odd lots/super-odd lots notional (US$100K–$1M) have seen an increase in daily notional volume of 33%.
  • There has been only a modest increase in ADV (up 6%) for trade size US$1M–$25M since 2009.
  • Average trade size on RFQ platforms (i.e., MarketAxess) has been declining 5–6% per year.
  • Average trade size on MarketAxess high grade is now ~$400K.
  • In the US, corporate bonds volumes compiled with TRACE data are only slightly up year on year at just under $12 billion of average daily volume, and it has been rather stable for the past four years.

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Related Reading:

The $400 Billion Bond Mismatch Keeping Bears at Bay Endures

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By Wikipedia

Mechatronics is a design process that includes a combination of mechanical engineering, electrical engineering, telecommunications engineering, control engineering and computer engineering. Mechatronics is a multidisciplinary field of engineering, that is to say, it rejects splitting engineering into separate disciplines. Originally, mechatronics just included the combination of mechanics and electronics, hence the word is a combination of mechanics and electronics; however, as technical systems have become more and more complex the word has been broadened to include more technical areas.

The word “mechatronics” originated in Japanese-English and was created by Tetsuro Mori, an engineer of Yaskawa Electric Corporation. The word “mechatronics” was registered as trademark by the company in Japan with the registration number of “46-32714″ in 1971. However, afterward the company released the right of using the word to public, and the word “mechatronics” spread to the rest of the world. Nowadays, the word is translated in each language and the word is considered as an essential term for industry.

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By Max Ehrenfreund

President Obama unveiled Thursday a major executive action on immigration policy, offering temporary legal status to millions of illegal immigrants, along with an indefinite reprieve from deportation.

There are roughly 11 million undocumented immigrants in the United States, and political leaders of both parties agree the current system is broken and needs fixing. Yet Obama’s action has outraged Republicans in Congress, who say the president doesn’t have the authority to delay deportations for such a large class of people without legislation.

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Related Reading:

President Obama and the Hispanic Community

Border Wars with Zack Taylor

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“Now all of political economy from prehistory on to 1932 has been intent upon one thing only—how to take the wealth from the producer, how to take the food from the person who cultivated it and harvested it and give him very little in return. But when you take too much, you can kill the goose that lays the golden egg. And when the buying power dries up, then everybody suffers.” ~ Charles Walters

By Catherine Austin Fitts

As I drove East last week, I told a colleague that I was driving from “no water” to “no warmth.”

The economic impact of the drought in California and the Southwest and the cold in the North America is growing. The patterns play out around the world.

Charles Walters, founder of Acres U.S.A., described the relationship between farm income and GNP in his book Unforgiven. This weather and low commodities prices means tough times for farmers. That means more consolidation of valuable farm land.


To continue reading Catherine’s commentary on current events subscribe to The Solari Report here. Subscribers can log in to finish reading here.

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By Catherine Austin Fitts

The S&P is up 11% year to date. Alibaba is up 18% from it’s IPO in September. Lockheed Martin, the prime contractor for the national security state, is up 25% year to date and Apple is up 44%.

It looks like military operations are worth more than growing food and making and distributing things. However, “owning” people’s mobile payment systems and shopping is worth even more.

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“We knew the world would not be the same. A few people laughed… A few people cried… Most people were silent. I remembered the line from the Hindu scripture the Bhagavad Gita; Vishnu is trying to persuade the prince that he should do his duty, and to impress him takes on his multi-armed form, and says, “Now I am become death, the destroyer of worlds.” ~J. Robert Oppenheimer describing the initial reactions to the first nuclear bomb explosion

By Catherine Austin Fitts

Yesterday as I drove 500 miles across Texas and Arkansas on Interstates 30 and 40 to Tennessee, I listened to a history of US nuclear testing in Nevada.

The environmental risks that have been taken are mindboggling. Why would the United States intentionally risk destroying the ionosphere?

For the first time, I seriously contemplated that the reason that the Europeans have a space probe searching for habitable planets and the US has been building underground bases and leading a global spraying program is because nuclear tests have seriously threatened or destroyed the planet’s atmosphere.

Maybe the reason for the secrecy is if humans knew the truth, it would be impossible without extreme measures to ensure the safety of the leadership and their families. Maybe the reason for the ET stories at Area 51 is entertaining air cover up for the nuclear secrets emerging at the Nevada Test Site.

Recommendations for the best books on the history of nuclear testing and the scientifically proven impact on the planet are most welcome.

Related Reading:

Ionosphere on Wikipedia

Nuclear Weapon Testing on Wikipedia

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by Sarah TheHealthyHomeEconomist

The stories became far too frequent to ignore. Emails from folks with allergic or digestive issues to wheat in the United States experienced no symptoms whatsoever when they tried eating pasta on vacation in Italy. Confused parents wondering why wheat consumption sometimes triggered autoimmune reactions in their children but not at other times.

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“The tallest building in the world is now in Dubai, the biggest factory in the world is in China, the largest oil refinery is in India, the largest investment fund in the world is in Abu Dhabi, the largest Ferris wheel in the world is in Singapore.” ~ Fareed Zakaria

By Catherine Austin Fitts

Consider this a flashing sign that says: Pay attention, pay attention, pay attention!

Understanding the evolution in the US-China economic relationship now underway is essential for understanding the North American and Asian economics and their role in the global financial system.

Best source: Steve Roach’s book Unbalanced provides the framework to put the ongoing announcements and events in context.

Related Reading:

U.S. and China Agree to Tariff-Free Technology Trade

U.S. and China Reach Climate Accord After Months of Talks

Special Report: Stephen Roach – Seeking US-China Balance

China Opens Doors to Foreign Investment in Stocks

China–United States Relations: Economic Relations

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