Northern Lights

Submitted by Roanman on Sat, 04/24/2010 - 10:45


This photo was taken in Saluit, Nunavik, Canada on April 14, 2010.

To get to Saluit, you drive north from the Mackinac Bridge until the road ends.

Then you find an airport and fly north 'til Canada just about ends.

The photo links to page after page of photos in the Aurora Gallery at

Very cool.

I've been studying sunspots.

Sunspots have something to do with the Northern Lights.

Business is slow.


Tall Paul don't care

Submitted by Roanman on Fri, 04/23/2010 - 06:39


Tall Paul don't care.

I'm quoting here,

"As long as they're not coming for me, I don't give a damn."

"Seems kind of selfish don't ya think?" I ask provocatively.

Nothing ... then what appeared to be some thinking ... then finally,

"What else ya got."

OK, OK ..... I know when I'm whipped. 

I got Ann Arbor's own, the great Bill Kirchen on lead guitar, George Frayne (U. of M. 66) on vocals, Swingin Andy Stein on the fiddle, Dr. John A. Tichy Ph.d.(U. of M. a mess of times) and Billy C. Farlow on rhythm guitars.

I got Bobby Black (I think) on the pedal steel guitar, Buffalo Bruce Barlow on bass, and Lance Dickerson on drums.

I got that band of heroes that called themselves,

"The Lost Planet Airmen"

and their Commander ....... Cody.

Live at the 10 for 2, Free John Sinclair concert in Ann Arbor Michigan, 1971.

Hot Rod Lincoln.


I have always wanted to do that.


To quote R.E. McMaster and Ricky Ricardo

Submitted by Roanman on Wed, 04/21/2010 - 07:08


"Goldman and a hedge fund client put together a ball of sub-prime junk designed to fail and then bet against it.

Goldman also took out insurance on those same mortgage backed securities from AIG, the same AIG taxpayers bailed out to the tune of $180 billion.

Goldman was paid a total of nearly $13 billion from AIG at the direction of Treasury Secretary Tim Geithner."




John Paulson and Goldman Sachs

Submitted by Roanman on Tue, 04/20/2010 - 16:18


The second simplest and most concise explanation of the newest revelation concerning Goldman Sachs, John Paulson and the toxic securities that have poisoned the investing world comes from Richard Russel's Dow Theory Letter.

(The best one is above).


Now it can be told. It started with billionaire fund manager John Paulsen. He had an idea that the wild speculation in homes was putting the price of homes into the bubbly stratosphere, and that the whole home-structure was due to collapse. Paulsen went to a few firms including Goldman and asked them to structure mortgage packages that would include some of the poorest quality mortgages. Paulsen's plan -- bet against these vehicles and these items and hope that he would be correct -- that the housing boom would go into free-fall. This is exactly what happened, and Paulsen and his investors pocketed billions in profits.

Bear Sterns turned down a deal with Paulsen. But Goldman and Deutsche Bank went along with Paulsen. Goldman, knowing the mortgage packages they had created were toxic, sold these deals to investors without telling them about Paulsen and his thesis that these mortgage packages were created to fail. What's worse, Goldman even sold these toxic packages short. Goldman sold the product to their customers and at the same time shorted the products.

But what about the agencies that were supposed to grade these packages? They were as asleep as was the SEC on the Madoff case. The toxic packages got a AAA classification from the rating agencies. All in all, a disgusting case of collusion and incompetence by Wall Street and the rating agencies and stupidity on the part of the buyers of these toxic packages.

The fact is that Paulsen had been searching for bubbles in the economy, and he correctly zeroed in on real estate and specifically home mortgages. But Paulsen never sold his toxic packages to investors, Goldman did. Which is why the SEC has focused its fraud accusations on Goldman and left Paulsen alone.

Paulsen & Co. earned $15 billion betting against the housing market in 2007. Paulsen, 54 years old, personally made nearly $4 billion that year. Today Paulsen's hedge fund has $32 billion in assets, making it one the world's largest hedge funds. Of interest is that Paulsen's most recent big investment is in gold and gold stocks and exchange traded funds tied to gold.




Submitted by Roanman on Tue, 04/20/2010 - 10:51


This one is a bit more complex.

You'd have to be a "Gold Bug" to have picked it up.

It has been percolating from site to site for the past week or so.

Simply put, people who think that they have acquired Gold that is being stored within some depositary somewhere have rather purchased only a promise of Gold to be paid upon demand, or have purchased a promise to pay in cash upon demand the value of some amount of Gold.

Got it?

You think you own Gold, but you don't.

This time it's mostly J.P. Morgan.

But Scotia shows up.

And of course, the ubiquitous Goldman Sachs.

The following are some of the more notable quotes, each will link to the story from which it was obtained.

"Ponzimonium" a word coined by CFTC Commisioner (Commodity Futures Trading Commision) Bart Chilton makes a nice title, and since Nathan Lewis has already grabbed it, I'll quote his story first.


Today, in a post titled Where's the Gold, Nathan Lewis continues.
Adrian Douglas of GATA (Gold Antitrust Action Committee) continues.

Goldman Sachs has just been charged with fraud for failing to advise customers to whom they were selling a particular investment that the firm had been paid by the John Paulson Fund to engineer the investment in a way that made it likely to go down in price.


 Sorry about the way long post, I couldn't figure a way to shorten it.



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