muses of the moment

November 30, 2011

Why is no one in jail?

Why is no one in jail? Why are the only rule changes are those contained in the Frank-Dodd legislation that is one, watered down, and two, doesn’t go into effect for months or years?

The financial fraud is so blatant. Why is nothing being done?

Aside from bank lobbyists and government agencies wanting to keep the status quo, groovygirl is starting to wonder if it is something else. What if the crime is not being punished because if it was, the whole system would come crashing down? That we would find out we have no money in the bank, no pension, no 401k, no government debt, no stocks, no paper assets, since every tangible asset, stock, and real capital is leveraged, bet, and promised in various financial contracts 10, 20, 100 times over?

The $600 trillion in derivatives alone could explode the global financial system, banking system, and all fiat currencies.

GG isn’t even counting in the fiat currency issues.

GG thinks this is why no one will be prosecuted, no rules will change, and they will continue down the same road until it all blows up.

You will have to protect your own finances.

Update Dec. 1, 2011: Jim Sinclair shares his thoughts on this subject. Click here.


Filed under: The Banking Crisis, The Federal Reserve, The Financial Crisis, US Government Debt — totallygroovygirlfriday @ 8:39 pm

This is kind of weird. Don’t know what to make of it.

Update on MF Global

Filed under: 401K and IRAs, Economic Crisis, MF Global bankruptcy, Odds 'n ends — totallygroovygirlfriday @ 10:15 am

Click here for an update on MF Global. After 30 days, they find half of the $1 billion missing money in a London account held by JP Morgan. OK, this news alone means that the brokerage system is not transparent and you can never know where your money is (and apparently neither can the “auditors”) and what it is invested in.

In good times, this is not a big concern. In the mist of the slow train wreck of the global debt crisis, this is a major concern. In this game of music chairs, your chair may get moved from where you thought it was the next time the music stops. That’s the good view. The bad view is that JPM had those funds as collateral or payment for another deal. And if that is a systemic practice, your money is not safe at all if it passes through a brokerage house.

This scam is much bigger than debt that is pledged to more than two people in a leveraged deal. This is actual cash pledged to more than one entity, a balance sheet with lots of double entries. They probably do this by moving money daily from account to account, so at the time the reports are run, it looks legit. Small-time crooks and large criminal organizations do this same thing. Transferring money from one account to another and cashing in the money before it has a chance to clear, it’s called bank fraud.

Jim Rickards

Filed under: Dollar Crisis, Fiat Currency, Gold and Silver Investing, Precious metals — totallygroovygirlfriday @ 1:56 am

Here is that interview with Jim Rickards on KWN. I thought it would be up last weekend.

There is a video at the end of this link that explains the difference of the GDP and NGDP that Jim speaks about in the interview above. Good info for future.

November 29, 2011

Sigma X

Filed under: Bank bailout, Dollar Crisis, Economic Crisis, The Banking Crisis — totallygroovygirlfriday @ 5:47 pm

Groovygirl loves the Sigma X charts that zerohedge posts occasionally. Regular Joes don’t have access to info like this.

Click here.

Lloyd’s is at the top…. Yeah, didn’t Leap2020 just predict that Britain was the next target in the European/Global Debt Crisis? No, may not have been them, can’t think of who it was…..Reggie Middleton, maybe?

Jim Rogers and Jesse’s charts

Filed under: Gold and Silver Investing, Odds 'n ends, Precious metals — totallygroovygirlfriday @ 12:09 pm

Sorry about the lack of posts, groovygirl is a little busy this week.

Click here for an interview with Jim Rogers from

Click here for some updated gold and silver charts from Jesse over at Cafe Americain. Is gold forming a triangle? And that silver chart might be forming a low for the next steady trend upward. It is silver’s turn to move up.

Gold and silver seem to be both consolidating. Plus the fact that they have not broken major support in the mist of the recent global liquidity/credit crisis (triggered in Europe) is encouraging. We shall see.

November 27, 2011

Warren Pollock

Filed under: 401K and IRAs, Dollar Crisis, Economic Crisis, The Banking Crisis, The Federal Reserve — totallygroovygirlfriday @ 10:19 am

Click here for a video from Warren Pollock. Warren reveals the rising rate on short-term Spanish debt and other factors.

There is a very high possibility for a bank run in Europe in the next few weeks. This could explain last week’s move of $88 billion in the “other” account at the Fed.

If Europe loses control over the banking crisis, it will move to US. Martin Armstrong’s next turning point is January 18, 2012.

The Fed

Filed under: The Dollar Crisis, The Federal Reserve, The Financial Crisis — totallygroovygirlfriday @ 9:36 am

Groovygirl is focusing on a couple of posts from zerohedge regarding the Fed. GG is not too concerned about the Fed’s moves discussed in these articles per se. She is more concerned  that everyone understand the definitions and be able to see changes in the future.

Defining the “other” cash account.

First, click here, Fed injects cash into banks from the “other” cash account.

Namely the Fed’s “other” non-reserve based factors absorbing liquidity. And specifically, the actual number, which rose by an unprecedented $88 billion in one week to an all time high of $115 billion for the week ended November 23!

Second, click here for further explanation of this increase.

“Other deposits at Federal Reserve Banks include balances of international and multilateral organizations with accounts at FRBNY, such as the International Monetary Fund, United Nations, International Bank for Reconstruction and Development (World Bank); the special checking account of the ESF (where deposits from monetizing SDRs would be placed); and balances of a few U.S. government agencies, such as the Fannie Mae and Freddie Mac.”

So, in the future, we might look to this account to see the Fed funding Europe’s bailout/collapse through any of the international banking entities listed above (which is probably what happened last week). Or funding Freddie and Fannie or any other government-owned company in the future.  Or changing US Dollars for SDRs in the coming new world currency after the collapse in confidence in the US Dollar. Groovygirl suspects that before it is officially announced, this “other” deposit account will be where the bad debt that the Fed is holding on their opaque balance sheet will be used as collaterial for the new SDR in the future. This, of course, is a huge shell game. But if the globe is confident in the new SDR, then it will have its day.

The only problem with a new SDR: what will the global powers do with all the bad debt? If they keep all bad debt with no cuts, none of the long-term problems will be solved. If the debt is not dealt with in a sustainable way, groovygirl may sell some of her gold and silver (depending on the available  investments to move into to), but certainty not all of it.

This is one place we can look to try and guess what the Fed is really up to.

November 26, 2011


Filed under: Dollar Crisis, Economic Crisis, Odds 'n ends — totallygroovygirlfriday @ 8:12 am

There are some great interviews on Click here. James Turk from Thursday, weekly metals wrap today, and Jim Rickards coming soon.

November 24, 2011

Happy Thanksgiving

Filed under: Odds 'n ends — totallygroovygirlfriday @ 10:23 am

Groovygirl hopes everyone has a wonderful holiday.

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