Archive for the ‘Treason’ Category

Katie Pavlich | Jun 07, 2013

Yesterday was the 69th anniversary of the D-Day invasion and President Obama failed to say anything about it. There is no released statement on WhiteHouse.govand nothing on the White House or Barack Obama twitter feeds about the anniversary. President Obama did not make any public remarks about the anniversary yesterday, either.

http://townhall.com/tipsheet/katiepavlich/2013/06/07/obama-fails-to-commemorate-dday-n1615206

Advertisements

In the classic 1964 movie Goldfinger, James Bond tries to prevent the main villain, Auric Goldfinger, from detonating a dirty nuclear bomb inside Fort Knox. While in Fort Knox, Bond says“Well, if you explode it [the bomb] in Fort Knox, the… the entire gold supply of the United States would be radioactive for… fifty-seven years.”

Goldfinger is only a work of fiction. Fort Knox wasn’t under the threat of a nuclear explosion (then again, who knows?). Nonetheless, it has been argued that it wouldn’t really make difference if the gold in the fort were radioactive – nobody has seen much of it since the 1950s. On December 4 and December 12, 2012 in our two-part story on gold and the US dollar, we highlighted two possibilities: the dollar collapses, gold goes up like crazy or the dollar doesn’t collapse, gold still appreciates. In those commentaries, we analyzed the possibilities of gold appreciating and tied possible price levels with a number of factors — for instance, with US gold reserves as presented on the chart below.

On December 4, 2012, we wrote the following:

This chart presents the … relation of US debt to Treasury gold reserves – the amount of debt per one ounce of gold – up to 2012. The red line represents US Treasury gold reserves in metric tonnes, while the yellow line denotes the amount of US debt in dollars per ounce of gold. The debt per ounce has visibly increased since 1971, accelerating around 2000 and even more around 2008. In 2012, there were $61,796.11 of debt per one ounce of gold owned by the US government.Now, if a new gold standard is introduced and the agreement works like the Bretton Woods system, the dollar (or whatever other currency) would be tied to gold. As noted earlier in this essay, at the introduction of the Bretton Woods agreement in 1944 the debt coverage for the US stood at 10.9% (or $319.90 of debt per one troy ounce of gold). If the new system were based on similar assumptions with debt coverage at 10%, this would imply a fixed price of $6,179.61 per ounce of gold ($6,179.61 per ounce of gold divided by $61,796.11 of debt per one ounce of gold gives us coverage of 10%).

Since the publication of this essay, we have received a particularly interesting question about the assumptions we used:

Dear Mr. Radomski,Your December 4, 2012 article … is exceeding well-written and researched, and I gained a lot of knowledge from reading it.  However  there is one potential problem I see in all the logic you are applying  to the current situation. It seems to me you are assuming the USA  actually has gold at Fort Knox and West Point.  But there is mounting,  but unproven evidence, both places have no gold in them at all, and are  rather storage places for nerve gas.…  An audit of the US gold holdings has  been demanded by some for years, but the government will not allow it.  The gold belongs to the American people, so why won’t they let us see  it?  Many think it is because it is no longer there.  If that is indeed  the case, do we not face a “financial Armageddon?” Thanks for reading this and any response you might have. (I am not a  conspiracy freak!) …

We always appreciate our readers’ feedback and would like to thank for it here. We also appreciate spot-on questions and see this particular one as intriguing, to say the least. Which brings us back to Fort Knox.

At first it may sound shocking, but the last audit of gold stored in Fort Knox took place in 1953. No typo here — 1953, just after US President Dwight Eisenhower took office. Even though it is the last audit up to date, it can’t be described as satisfying. No outside experts were allowed and the audit team tested only about 5% of gold hoarded in the fort. So, there hasn’t been a comprehensive audit of Fort Knox in at least 60 years. This is at least surprising, given the fact that large entities listed on stock exchanges are usually required to undergo an outside audit at least once a year. Of course, the US Bullion Depository is no conventional company. Nonetheless, not auditing it independently for more than half of the century raises questions such as the one posted above.

This is not a new topic. One of the first written accounts questioning the amount of gold really stored in Fort Knox appeared in 1974 in a tabloid, the National Tattler. An unnamed informant claimed that there was no gold left in Fort Knox. The sensational nature of the story, and of the newspaper, wouldn’t perhaps contribute to the credibility of the account, but it was later revealed that the informant, Louise Auchincloss Boyer, secretary to Nelson Rockefeller, had fallen out of the window of her New York apartment and died three days after the publication in the Tattler. The tragic incident resulted in controversies over the possibility that the US Bullion Depositary may have misstated the actual amount of gold held in Fort Knox. Congressman John R. Rarick demanded a Congressional investigation; on September 23, 1974, six Congressmen, one Senator, and the press were allowed to enter Fort Knox to see for themselves if the gold was there or not.

The tour showed that there was gold in Fort Knox — but, all the same, it sparked even more controversies. Only a fraction of the gold reserves were available to see. A photo of one Congressman published by the Associated Press suggested that gold bars held in the fort may have been less heavy than would be usually expected.

Quite obviously, this has resulted in even more doubt about the fineness of gold in Fort Knox. None of these doubts have been put aside by any of the audits carried out since 1974. When the reserves were audited, the amount of the gold examined was fractional and there has been no comprehensive bar count and weighting. The same goes for assaying – if a fraction of gold bars were examined at all, then a fraction of this fraction were assayed. The methods used in the assaying process were not conventional. Usually, during an assay, gold bars are examined by means of drilling, which is called the core boring method. But the bars in Fort Knox were examined merely by cutting of small chips of the metal from their surface. This method only proved that the outer layer of the bars examined was made of gold.

This difference in assaying methods is important if you consider that counterfeit “gold bars” have been showing up in New York recently and that fake gold bars turned up in LBMA Approved Vaults in Hong Kong. All these bars had one common characteristic: they were made of tungsten, which has similar density as gold, and covered with a gold veneer. The problem here is that such bars can go undetected if they are examined with X-ray fluorescence scans or by means of simply scraping of a bit of the metal from the surface. So, to properly assess the fineness of gold bars in Fort Knox, a full core boring method should be employed.

In 2012, the German federal court ordered that the German central bank, Bundesbank, conduct an audit of German gold reserves stored abroad, particularly in the US, UK, and France. The German authorities have never before conducted a comprehensive audit of their foreign gold reserves and the last time they were able to see their gold stored in the New York Federal Reserve vaults was supposedly in 1979/1980. The Bundesbank has expressed that it doesn’t doubt the trustworthiness of the US authorities, but demands stricter control over its gold reserves. Because of that, 150 tons of gold will be shipped from the US to Germany to assess the fineness of the bars.

All of this shows that the measures applied by the US government to gold storage in Fort Knox and the Federal Reserve Bank of New York’s vaults are questionable and that this fact may have been recognized by German authorities. It’s hardly conceivable that there is no gold left in Fort Knox or the New York vaults. On the other hand, the lack of a comprehensive audit of either facility is unnerving. So are other irregularities associated with Fort Knox: missing shipments, audits acknowledging the existence of gold based on seals that were not broken, not on the actual count, and examination of bars and so on.

Of course, a full audit of Fort Knox wouldn’t be an easy task because of the sheer amount of gold to be examined. But it’s feasible. The US Mint estimated the cost of such an audit to stand at $60 million. The Treasury came up with a lower estimate – $15 million. Even if we take the higher value, and compare it to the value of gold stored in Fort Knox (as of December 31, 2012, $240.8 billion) it adds up to about 0.02% of these reserves. In this light the Treasury cannot really claim that this is too expensive.

So, what does all of this mean for the analysis we presented in our essay on gold and the dollar collapse? In short words, not much. Our price target for gold is to be treated as a general indication of where gold might go if the dollar collapses. If the value of the greenback is reduced to paper, we would expect gold to appreciate, but not exactly to $6,179.61. It could appreciate to $5,000 or to $10,000 (in today’s dollars). Nobody really knows that. The point is that if doubts about the amount of gold stored in Fort Knox are just that – unproven doubts – gold could be a lot more expensive (in dollar terms) than it is today. If, however, there’s any substance in these doubts and gold reserves in Fort Knox are lower than officially reported, gold could go even higher, and the price of $6,000 per ounce of gold could be viewed as the lower bound of where it might go.

The bottom line is that if the dollar collapses and the gold reported to be in Fort Knox is really there, gold could appreciate very strongly. If the dollar crashes and Fort Knox is (partially) empty, gold could go sky-high (in dollar terms).

For more information on how to structure your gold and silver portfolio to deal with both the possibility of the dollar collapsing and the possibility that it will endure in spite of the current US debt levels, please consult our essay on gold and silver portfolios. For information on why we use past gold tops as reference points, check our essay on the 1980 top in gold.

Thank you for reading.

For the full version of this essay and more, visit Sunshine Profits’ website.

Twitter: @SunshineProfits

Read more: http://www.minyanville.com/sectors/precious-metals/articles/Credibility-of-the-US-Bullion-Depositary/1/2/2013/id/47071?page=full#ixzz2NiahH9zH

Hunting in Arivaca is a tradition for the Ybarra family. Bill Ybarra grew up in the Rio Rico area and was out hunting with his son and brother-in-law last weekend.

“I remember coming on horseback in the day,” Bill said. “It’s a tradition.”

Living Southern Arizona their entire lives, they’ve been coming to these parts for decades. The familiarity keeps them coming back. “We’re local. Been hunting it for 20 years.”

Gregg Rath and his friend, Mike Shirey are from Phoenix and like the terrain Arivaca has to offer.

“We keep coming back because we love it,” Rath said. “We stop in Arivaca to eat or stop at the Longhorn or other place. It’s a nice break.”

But they’re in the minority. Fewer and fewer hunters are coming to border areas because of illegal immigrants and smugglers. Arizona’s game and fish has seen the drop off.

“Our hunting license and game tag sales in the borderland areas have been down for the last 15 years,” Mark Hart, the public information officer of the Game and Fish Department in Tucson, said.

The biggest change in the last 15 years is the security along the border. Hart attributes it to the Clinton administration’s focus on San Diego, California and El Paso, Texas forced immigrants and smugglers to funnel their way through Arizona..

“For many years now we have had left over game tags specifically for deer and javelin — specifically in the borderland areas,” Hart added. “Probably the place that has had the most left over is from Arivaca South to Sasabe.”

With all the illegal activity on the border, hunters are chasing game elsewhere. Making it tough for establishments down South who are starving for business.

Lyndel Caswell has been the manager of Cow Palace restaurant and bar for the last five years. She’s noticed a drop off in business. “Yes we’ve seen a decline even from last year,” she said. “There’s been a decline in hunters. They used to come in for lunch and dinner or go to the bar but not so much.”

Scott Skober manages the bar at Cow Palace for the last three years. “Business has been down,” he agreed. “But I don’t know if it’s because of the illegal activity or not.”

Last summer, The Longhorn Grill went out of business. It’s likely the result of the recession but fewer hunters didn’t help either.

The BK Outlaw Barbecue is across the street and has several signs outside inviting hunters inside. Co-owner Vickie Wandfluh gives hunters a free sandwich if they get a deer. “We cater to them,” she said. “We offer camp fire meals they can take with them… but, business has definitely been down.”

“Some hunters are concerned about the activity on the border. But the one that have been hunting here for years are not concerned.”

You are sure to see border patrol agents stop by BK Outlaw Barbecue, but their increased presence can sometimes scare away even the locals.

Wandfluh recalls a time the Border Patrol loaded up body bags in her parking lot. “When a Black Hawk helicopter lands at your restaurant and doesn’t let anyone out of the building or off the freeway exit, it scares people. New visitors don’t want to come back. It’s bad for business.”

The hunters that are still coming admit they have to make allowances for the beefed up border presence. “We know they’re just doing their jobs and we notice the migrant traffic is down because of it,” Gregg Rath said.

Mike Cotton lives in the Three Points area and doesn’t even try to hunt the area anymore. Instead, he gets his shooting in on the range. “It’s not as safe as people say,” Cotton said. “It’s pretty bad out there.”

Game and Fish is aware of hunters’ reluctance to frequent the borderlands, but say those areas can still offer a positive experience.

“We believe you can still recreate safely there you just have to be safe about it,” Hart said. He suggests taking the following precautions:

– Let others know where you’re going and when you’re returning.

-Carry a GPS unit and know how to use it.

-Avoid suspicious areas where there’s lots of garbage.

-Avoid abandoned cars and back into spots.

-Be reluctant to render aid to someone who appears injured.

-Contact Border Patrol if you see suspicious activity at 1-800-BE-ALERT.

Bill Ybarra knows things have changed. But, that doesn’t mean he has to. “This is my hunting ground, no one’s going to push me out.”

by Scott Kilbury at tucsonnewsnow.com

Land chief takes job at non-profit

Ariz. commissioner will join Sonoran Institute as its  CEO

by Craig Harris – Nov. 21, 2012 10:18 PM The Republic | azcentral.com
Arizona Land Commissioner Maria Baier, who has worked for two Republican  governors and served on the Phoenix City Council, will leave state government to  become chief executive of the Sonoran Institute.

“I’m really excited about it,” Baier said of her new job. “They do great  work. They really try very hard to bring diverse interests together on land  issues that affect the western United States.”

Baier’s last day with the state agency, which is responsible for managing  millions of acres of Arizona trust land, is Nov. 29. She becomes the Sonoran  Institute’s CEO on Dec. 3.

“Maria was our top choice, and we are thrilled she has accepted our offer,”  said Bill Mitchell, chairman of the institute’s board. “We are very excited  about the enthusiasm, vitality and vision that she brings to our organization  for the future.”

The Sonoran Institute is a Tucson-based non-profit organization involved in  public-policy decisions affecting land issues in western North America. For the  fiscal year that ended June 30, 2011, the institute reported having 53  employees, nearly $2.1 million in net assets and $6 million in revenue.

Baier will replace Luther Propst, who founded the organization in 1991 and  has led the Sonoran Institute since its inception.

Baier, 51, quipped that Sonoran’s CEO job opens only every two decades and  that it was something she couldn’t turn down.

John Shepard, senior adviser for the institute, said Baier brings expertise  in land management and public policy from her roles in state government and on  the Phoenix council, where she served before becoming land commissioner.

Shepard said the group expects Baier to expand the organization in  intermountain states.

Baier said she will divide her time in her new job between the Sonoran  Institute’s Phoenix and Tucson offices and will travel to other offices in  Montana, Colorado and Mexico.

Shepard declined to disclose Baier’s salary.

Propst was paid $120,640 a year, according to the group’s most recent  financial records.

Baier, who lives in Phoenix, was appointed land commissioner in 2009 by Gov.  Jan Brewer.

During Baier’s tenure at the Arizona State Land Department, the agency earned  $560 million in revenue through leasing and sales of 25,000 acres of trust  land.

Proceeds from the sales and leasing benefit schools.

Baier, who also worked for then-Gov. Fife Symington, said she was proud that  the Land Department had started solar leases and wind farms while she ran the  agency.

“Even in a bad economy, we generated a lot of money for the beneficiaries of  the trust,” she said.

The governor called Baier a “wonderful asset” to her administration.

Brewer must now appoint a new commissioner.

Matthew Benson, a spokesman for the governor, said that if the governor does  not appoint a replacement for Baier by Nov. 29, Deputy Commissioner Vanessa  Hickman will become the acting commissioner.

http://www.azcentral.com/arizonarepublic/local/articles/2012/11/20/20121120land-chief-takes-job-non-profit.html

GOP senators may take lead on immigration reform

By Jake Miller / CBS News/ November 14, 2012,

A trio of Republican senators said this week they’re willing to move forward on a comprehensive immigration reform plan that may include a path to citizenship for the estimated 11 million undocumented immigrants in America, providing further evidence that Republicans’ poor showing among Hispanic-Americans in last week’s election has forced the GOP into a more accommodating stance in the immigration reform debate.

 

The Hill newspaper reports Sens. John McCain, R-Ariz., and Orrin Hatch, R-Utah, two seasoned veterans of past immigration reform battles, were joined by relative newcomer Sen. Marco Rubio, R-Fla., a Hispanic lawmaker who could bridge the divide between immigration reform advocates and the conservative wing of the GOP that has fiercely opposed past reform efforts.

 

“Everything ought to be on the table,” said Hatch when asked whether he would support a path to citizenship for undocumented immigrants, the most controversial element of past reform proposals. “There are a lot of very important legal considerations that have to be made, but I’ve always been empathetic towards resolving this problem one way or the other.”

 

McCain was similarly agnostic on the inclusion of a path to citizenship in an eventual bill, saying it was “too early” to get into specifics. But he indicated it was “very likely” the Senate will take up a comprehensive bill in the next Congress and nodded at the political imperative confronting the GOP: “There’s a sense of urgency in the Republican Party for obvious reasons, and I’m sure that everybody’s ready to deal.”

 

The GOP’s role in scuttling past immigration reform efforts (and their tenor in doing so) was widely blamed for Republicans’ poor showing among Hispanic-Americans in last week’s election. GOP presidential nominee Mitt Romney lost the Hispanic vote almost three to one, and many analysts have recognized the electoral peril in continuing to dramatically underperform among the largest ethnic minority in America, warning that the GOP may become a permanent minority party if it is seen as the refuge of nativists.

 

And it’s apparently not just Hispanic-Americans who want comprehensive reform: in a Washington Post/ABC News poll released Wednesday, a clear majority of Americans – 57 percent – support a path to citizenship for undocumented immigrants as part of an immigration reform bill. Only 39 percent of respondents opposed the proposal.

 

Both McCain and Hatch have something of a tortured history on immigration reform. McCain co-sponsored a comprehensive immigration bill with the late Sen. Edward Kennedy, D-Mass., in 2005, but was forced to disavow his involvement during the 2008 Republican primary and embrace an enforcement-first approach, telling a skeptical Republican base, “I got the message, we’re going to secure the borders.” He further distanced himself from his past support for immigration reform in the face of a stronger-than-expected primary challenge from former congressman J.D. Hayworth during his 2010 Senate reelection bid.

 

Hatch, for his part, was an original co-sponsor of the DREAM Act that would confer citizenship to children of undocumented immigrants who agreed to serve in the military or pursue higher education, but he too was forced to wash his hands of past apostasy to survive a primary challenge earlier this year.

 

Rubio, who may be the most important player to watch given his popularity among the conservative base, began work on a Republican alternative to the DREAM Act last year but abandoned his efforts after President Obama sapped his momentum with an executive order granting visas to some undocumented immigrants brought here as children.

 

Despite that false start, some Republicans are hoping that Rubio’s credibility with conservatives will provide cover for other lawmakers to play ball without fear of a mutiny on their right flank.

 

And Rubio certainly seemed willing to consider a comprehensive reform bill, telling The Hill, “The first steps in all of this is to win the confidence of the American people by modernizing the legal immigration issue and by improving enforcements of the existing law. And then, obviously, we’re going to have to deal with 11 million people who are here in undocumented status.” He added, “I think it’ll be a lot easier to figure that out if we do those other steps first. But like I said, there are going to be a lot of opinions on this.”

  © 2012 CBS Interactive Inc. All Rights Reserved.

http://www.cbsnews.com/8301-250_162-57549706/gop-senators-may-take-lead-on-immigration-reform/