White Americans have long resisted the idea of reparations to the descendants of slaves.We examine the psychological basis of such resistance, primarily testing the possibility that resistance may be a function of Whites’ perception of the ongoing cost of being Black. White participants (n = 958) across twelve independent samples (varying in age, student status, and geographic location) were asked variations of the question: How much should you be paid to continue to live the remainder of your life as a Black person? Participants generally required low median amounts, less than $10,000, to make the race change, whereas they requested high amounts, $1,000,000, to give up television.
Phi Beta Iota: Reprinted in full to allow emphasis and easier reading. Original source at logo, “as is.” Recommended by our physical gold colleagues.
Several financial events this week indicate something big is about to happen, something that may make the 2008 credit crisis seem rather benign. First, the IMF announced that it is liquidating its gold holdings, the world’s 3rd largest stash after the US and Germany. Buyers included the governments of India, Sri Lanka and Mauritius. Do you think the IMF would be selling gold at a market bottom? Bubble #1 about to burst- Gold.
Why Criminal Hackers Must Not Be Rewarded
Part 1: The Fruit of the Poisoned Tree
By M. E. Kabay, 11/30/2009
In 1995, I participated in a debate with distinguished security expert Robert D. Steele, a vigorous proponent of open-source intelligence. We discussed the advisability of hiring criminal hackers. Perhaps readers will find the polemic I published back then of interest today. I’m sure it will provoke vitriolic comments from the criminal hacker community.
How and why China will flood the gold market
Number is even more striking for silver
Phi Beta Iota: Three points:
1. An audit of Fort Knox will probably disclose that USA has half its claimed holdings in gold.
2. China is leveraging the considerable buying power of its multi-billion population in a very clever manner.
3. China has 80% or more of all the other precious metals including those needed to create green energy, still in the ground–the rest of the world will pay dearly for them The USA has failed to do a current strategic resources survey and has no strategy for getting into the future in any semblance of peace and prosperity for all.
Below the Fold: Reference Links on Chinese Strategic Minerals
SPECIAL FROM OUR SOURCES IN ASIA
Gold could be about to get disorderly also as it approaches the key $1200 call option strike. The strong rumour is the large $1200oz Dec call owner is the Peoples Bank of China. Gold traders increasingly believe that China will force physical delivery of 2.8moz of gold instead of the usual cash settlement. My contacts suggest short-term mayhem may be about to break out in gold for a few days as those who have sold the call and get exercised scramble to buy physical for delivery. To put this in context 2.8moz is around 80 tonnes of gold. Yes, it’s that big and you can see why there is short-covering everywhere in gold.
Phi Beta Iota: If John Mack becomes Secretary of the Treasury, we anticipate China having a subtle but respected influence on the US Treasury as a condition for selective cover-ups, and China managing the situation so it ultimately gets compensation for all the gold stolen by Japen and confiscated by the US to create the Treasury Black Eagle Trust and Golden Lily slush funds. China did NOT sign the San Francisco Treaty and is on solid ground. We respect John Mack, he might possibly be the first truly multinational Secretary of the Treasury, and if he can make a commitment to Open Money and Real Wealth as a future path for the global economy, he could conceivably be the single most important person in the 21st Century. For background see
Below are six flagged Alerts from a source we have learned to trust.
What is very interesting about this is that Mack is the only guy on Wall Street the Chinese leadership really trusts. There is no real difference between Goldman Sachs, Citi-Bank (the original Black Eagle Trust holder) and Morgan, although Mack does seem considerably more classy, and perhaps more able to get a grip on reality going into the future.
GS a short? And five reasons we hate Goldman Sachs
Cody Willard November 19, 2009
Here are five reasons why we want Goldman Sachs destroyed and buried so we can dance on its grave and why these crony apologists are wrong when they say that the “populist outrage at Goldman Sachs is misplaced”.
1. The AIG bailout was a covert bailout of Goldman and we want our money back.
2. Goldman became a “financial holding company” after it became a “bank holding company”after it realized it was going to be insolvent even after it got Stephen Friedman to write them a $13 billion check from AIG funded with taxpayer money.
By EDMUND L. ANDREWS
WASHINGTON — The United States government is financing its more than trillion-dollar-a-year borrowing with i.o.u.’s on terms that seem too good to be true. But that happy situation, aided by ultralow interest rates, may not last much longer. Treasury officials now face a trifecta of headaches: a mountain of new debt, a balloon of short-term borrowings that come due in the months ahead, and interest rates that are sure to climb back to normal as soon as the Federal Reserve decides that the emergency has passed.
By GRETCHEN MORGENSON
‘A government report on the bailout of A.I.G. is must reading for taxpayers looking to know why the $182 billion “rescue” is the most troubling episode of the financial disaster.’) … The Fed, under Mr. Geithner’s direction, caved in to A.I.G.’s counterparties, giving them 100 cents on the dollar for positions that would have been worth far less if A.I.G. had defaulted. Goldman Sachs, Merrill Lynch, Société Générale and other banks were in the group that got full value for their contracts when many others were accepting fire-sale prices.
By TOM RAUM (AP)
WASHINGTON — Suddenly the Federal Reserve is everybody’s punching bag. … Strip the Fed of its bank regulation powers, some in Congress are demanding. Get probing audits of its behind-the-scenes operations, others say.
This book is short (123 pages), easy to read, and an inspiring patriotic labor of love, a gift to all of us who care deeply for American the Beautiful and are confused and/or angry about all that has been done “in our name” by the festering cesspool of Washington-based politicians and senior bureaucrats who live to claim budget share (inputs) rather than deliver public service (outputs).
The author provides the single best, most complete, and most sensible demarche against EARMARKS that I have ever seen. Included are eight illustrations and I will list them here because they capture the essence of this book’s common sense:
Phi Beta Iota: We are NOT making this up. People from around the world are starting to send us this stuff, and we love it–this clearly demonstrates the power of public intelligence in the aggregate, and the importance of multiniational information-sharing and multinational sense-making, the bulk of which is not now and never will be “secret.” We would not be at all surprised to start seeing Goldman Sachs and Bank of New York executives dying like flies, with former Secretaries of the Treasury and Chairs (and NY Governors) of the Federal Reserve having pride of place on the hit list. The Russians and Chinese (and soon the Indians) all have a right to take “extreme exception” to the state-sponsored crimes the above document discusses.
BullionVault says: Accredited custodians only take in bars from other accredited vaults, and metal only enters the system from accredited refiners. Even when they bear the correct bar stamps, large gold bars are not usually accepted from people outside the Good Delivery circuit, which is why taking a Good Delivery bar into private possession seriously dents its value.
Phi Beta Iota: Hubris cannot be discounted, and since the Federal Reserve is part of the Good Delivery Circuit and its integrity has been severely impugned, this issue must join the matter of pre-9-11 gold evacuation from the World Trade Center as requiring further investigation.
UN food summit ends with ‘crumbs’ in hunger fight
By FRANCES D’EMILIO (AP) – 1 hour ago
ROME — The head of a U.N. food agency expressed regret Wednesday that an anti-hunger summit failed to result in precise promises of funding, and critics said the meeting had only thrown crumbs to the world’s 1 billion people without enough to eat.