Waiting for Godot. Money Matters airs this Thursday. Market update July 17, 2012

Marc's Notes:

Money Matters Airs Thursday at noon on KVMR FM PST.

Well we sit and wait for Sir Ben to speak. He speaks and says nothing so the markets stay flat. He DOES promise us he WILL act if jobs don't somehow pop up some day soon so its pretty much baked into the cake another round of drinks... ugh, I mean "stimulus" or should we just call it what it is, funny money from air to be paid to.... guess who........ the banks of course. That is all these programs are, no matter what they are called. "Asset purchases" just mean the FEDS print up money and buy US Treasury debt and bad mortgages from either the banks or Fannie and Freddie. (The mortgage giants now owned by the Feds.) When they buy US Treasuries its a flat out money printing scheme. The bank mortgages are an even worse fraud and plain give away to the banks.

Its all just funny money to buy debt. The buying of bank debt, Fannie and Freddie debt I hate the most as that is just bank bailout pure and simple. If you to want to know when that occurs, just look for words like "buying mortgage securities". Thats BAILOUT.

The markets know Ben will act sooner or later so a down market hard is probably not in the cards until he does act. That being said you can start looking into once again nibbling. (dividend payers is what I am considering). Only small amounts though.

I think it is sad we now depend on Bernanke to move markets. Keep in mind thats all he moves with these programs are stocks and interest rates. But only 10% of Americans own stocks, the rich 10 %. Most poor people don't own stocks so they only get stuck with the resulting inflation Ben generates. Thats the unfortunate part. Inflation is sure to pick up quickly if he doles out another program and look to gold to run heavy with the news when it comes. Refinance NOW with dirt cheap rates and contact me if you need a great loan guy! He was FANTASTIC!

Oil is rising again due to Iran issues once more and my UCO covered call position is doing nicely. I also sold calls on CORN (the fund with this symbol CORN). The drought now forces food costs up as well as Ben's printing presses so a double whammy for inflation. Looking to add more PM and AGNC for dividends. Both have done stellar but I am only adding a small amount and still fear a fall market crash if the Euro issue implodes which may happen at any time. GGN and NDRO are still being added for dividends as well as physical gold any time! Stay safe and look to savings, I BONDS, any new EVERBANK Market Safe stuff and similar no risk scenarios! I hate bonds and bond funds however except small amounts of foreign hi grade corporate and government funds, not individual issues though.

I opened up a Canadian Bank account. I might cover that in the show this week so tune in. If you want a contact up there, email me!

I am also looking to Everbank for a new Market Safe No Risk CD but no news yet. They do have a nice account for checking with guaranteed high rates. Here is the speal on that one with link if interested.

Check it out if looking for a bank account with a good rate, called BONUS RATE. Here is their sales speal. (Forgive the sale sounding text).

Here are the details on the Bonus Rate:

  • Bonus Rate increased to 1.25% for 6 months
  • Money Market Account First Year APY: 1.01% up to $50k
  • Checking Account First Year APY: 0.93% on accounts with $25k - $50k
  • Eligible Accounts: All NEW Yield Pledge Checking & Money Market Accounts


Even after the bonus rate period has ended, the Yield Pledge promise ensures these accounts will remain in the top 5% of competitive accounts nationwide – always. This consistently offers some of the highest yields in the nation (currently over 7X the national average for money market).

You can also deposit checks from your mobile phone! The EverBank mobile banking app allows you to simply snap a photo of your check and send the image to us for deposit. For more information, or to download the app visit: EverBank.com/mobile

Use the following links for the Yield Pledge Money Market and Yield Pledge Checking accounts if interested:

Money Market:

https://www.everbank.com/personal/high-yield-money-market.aspx?referid=13286

Checking:

https://www.everbank.com/personal/interest-checking.aspx?referid=13286

Money Class: New date in September. If we have your old check or you have signed up at KVMR, note the month and you still are paid up so you can attend.  September for Class 1. Date and time coming soon.  (New sign ups cost $199.00 each and includes food and drink).

Mail us your payment to PMB 101, 578 Sutton Way Grass Valley Ca 95945. Include your email address and what class (1 or 2) you prefer.

Class 2 is now being scheduled in September as well. (cost $199.00 and ditto above).

Email us who is interested or mail in payment to reserve your spot.

Money Matters airs next week at noon on KVMR FM and news on Tuesdays at 6.00 as usual. Want to meet? Email me. Golf too! Lets get together!

 

Now here is an article for your enjoyment and enlightenment. I think you will enjoy this one immensely.

End the Fed

I’m not one for believing much of anything the government says anymore and I suspect many people hold that same opinion but we still live in America dear reader and occasionally even they reveal the audacity that has guided our monetary policy by those supposedly working in our best interest.

 

Forecast by many way back in 1913 when the Federal Reserve act came into law, the resulting organization now run by Ben Bernanke plunders the wealth of society under the guise of saving it. Since its inception, it has successfully destroyed 95 % of the US dollars purchasing power and that lost purchasing power was transferred to the member banks that control it.

 

Although examples of this grand transfer of wealth saturate its 100 year history, in a report just released by the US Government Accountability Office, it details what some have known for years if not decades. The Federal Reserve System is nothing but grand theft on an unimaginable scale perpetuated on the American public, mirrored by central banks around the globe.

 

The report explains how and where the more than 4 trillion in low interest and zero cost loans went, each and every dollar of it either paid by you in taxes, or soon to be paid by (as has been the case for decades) in the inflation that is upon us now and about to get a whole lot worse in the months and years to come.

 

The “loans” were made during and after the crisis to “save the system” and the trail is so rank with the stench of audacity, it makes for difficult reading for anyone paying taxes into this system.

 

The Federal Reserve Members are bankers of the same mega banks you know and read about, and yes, they control the same institution that is supposed to be controlling them.

The report reveals that more than a dozen of the member banks of the Federal Reserve benefitted from the Federal Reserve bailouts. The report goes on to say that at least 18 current and former directors of the Federal Reserve’s own board saw to it that their own banks were awarded loans at virtually no cost during the height of the crisis that crippled the world economy and thrust millions into poverty. If that’s not enough to make you lose your lunch, consider the Federal Reserve then bought hundreds of billions of dollars’ worth of bad loans from these very same banks (at full value) and still retain those toxic assets at tax payer expense to this day. Adding insult to injury, since the banks sold those bad loans to the Federal Reserves, they then claimed profits in the billions, which reinstated those huge bonuses while the economy continued (and continues) to languish years after the fiasco.

 

That the Federal Reserve System gets away with this blatant theft is baffling but it is not going unnoticed. Although the fact that they’ve perpetuated this larceny on us for decades makes for a sad note in American history but the near implosion of the `system` has finally brought to light the immoral institution that is the Federal Reserve.

 

It’s time to end the Federal Reserve and restore America’s money to its rightful and Constitutional owners.

 

We, the people of the United States.

 

There is proposed legislation to do just that in debate right now.

 

(www.ronpaul.com)

 

This article expresses the opinions of Marc Cuniberti. Mr. Cuniberti hosts “Money Matters” on KVMR FM 89.5 and 105.1 F on Thursdays at noon. He has been featured on NBC and ABC television and on a host of made for TV documentaries for his economic insights. His website is www.moneymanagementradio.com