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Dan D, The Fundamental View: Audit the Federal Reserve-Update
http://thefundamentalview.blogspot.com/2009/11/audit-federal-reserve-update.html
I see this as the single most important issue in our country today. Yhe Federal Reserve controls the monetary policy of our nation, and has no regulatory body overseeing how the money is spent. This is a good intro into the issue, and its current status.
From The Big Picture, a video on Bloomberg with Josh Rosner who gives his perspective on the House Financial Appropriations Committee bill that would serve to put the moentary onus of responsibility on small and medium sized banks and hedge funds when "Too big to fail" financial institutions like Bank of America, Citigroup, Wells etc do fail. Please watch...link below.
http://www.ritholtz.com/blog/2009/10/josh-rosners-tv-rant-on-tbtf/
Peter Shiff, 321Gold: Hair of the Dog
http://www.321gold.com/editorials/schiff/schiff103009.html
Commentary on stimulus spending as it contributes to the repeating economic cycle of spend, contract, spend more, contract more, spend even more…..
Mish Shedlock, Global Economic Trend Analysis: Obama Creates 640,000 jobs at a cost of 324,000 per job.
http://globaleconomicanalysis.blogspot.com/2009/10/obama-creates-640329-jobs-at-cost-of.html
This seems like an efficient use of taxpayer funds. I'd laugh if I didn't find our current state of government to be pathetic and disturbing. But I must admit there is comedy in this downfall. And it is a downfall. Unfortunately, we have not seen the worst of the economic contraction.
Karl Deninger, The Market Ticker: Doing the Same THing Over and Over..War
http://market-ticker.org/archives/1563-Doing-The-Same-Thing-Over-And-Over-War.html
Another example of how our current administration more closely resembles the last one than not.
"There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved." -Ludwig Von Mises
National Debt Clock
Action Plan
People often ask me, "Ok, things are screwed up, but what can we do?" Below are some steps we can each take to encourage a free and vital society.
1: Contact Elected Representatives. Below is a link to contact federal elected officials, as well as my current message to these officials. Please contact me if you have any questions.
http://www.usa.gov/Contact/Elected.shtml
My current message to elected officials:
Dear...
As a voting citizen of the United States, I strongly encourage you to advocate and vote for legislation that Audits the Federal Reserve. Somehow, the U.S. Government has put a private bank in charge of the money supply of our country, and has no means of knowing how our money is spent. I believe the single most pressing issue for our national security is improving our fiscal strength so that we may fund the support services necessary to remain a solvent...no, vital nation of free people. This starts with taking responsibility for our money supply through robust accounting practices. It is inconceivable to me that a private bank has the ability to determine how many U.S. dollars are printed, and how they are spent, without stringent oversight. Fix this now! I am awake. I am paying attention. I will not vote for you if you do not take action on this matter.
Sincerely,
Name
City, State
2: Transfer money from large money center banks to local credit unions or regional banks.
3: Buy from locally owned businesses. Talk with business owners about why you choose to buy from them. Tell them about your banking choices, and encourage them to support local businesses by depositing their money with a local credit union/bank.
4: Use cash or debit cards instead of credit cards. Pay off credit card balances, or transfer balances to cards run by credit unions/regional banks. Every dollar you owe a bank contributes to the transfer of wealth from you to a corporation.
1: Contact Elected Representatives. Below is a link to contact federal elected officials, as well as my current message to these officials. Please contact me if you have any questions.
http://www.usa.gov/Contact/Elected.shtml
My current message to elected officials:
Dear...
As a voting citizen of the United States, I strongly encourage you to advocate and vote for legislation that Audits the Federal Reserve. Somehow, the U.S. Government has put a private bank in charge of the money supply of our country, and has no means of knowing how our money is spent. I believe the single most pressing issue for our national security is improving our fiscal strength so that we may fund the support services necessary to remain a solvent...no, vital nation of free people. This starts with taking responsibility for our money supply through robust accounting practices. It is inconceivable to me that a private bank has the ability to determine how many U.S. dollars are printed, and how they are spent, without stringent oversight. Fix this now! I am awake. I am paying attention. I will not vote for you if you do not take action on this matter.
Sincerely,
Name
City, State
2: Transfer money from large money center banks to local credit unions or regional banks.
3: Buy from locally owned businesses. Talk with business owners about why you choose to buy from them. Tell them about your banking choices, and encourage them to support local businesses by depositing their money with a local credit union/bank.
4: Use cash or debit cards instead of credit cards. Pay off credit card balances, or transfer balances to cards run by credit unions/regional banks. Every dollar you owe a bank contributes to the transfer of wealth from you to a corporation.
Themes
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- Markets (6)
- Trading (6)
- Comic Relief (5)
- Feel Good (2)
- Economy Politic (1)
- Healthcare (1)
Trading Rules and Definitions
Rules
Risk Management: The most critical aspect of my trading is managing risk. I am more concerned with how much I can lose in a trade than how much I can make. The amount of risk I'm willing to tolerate depends on the situation around a trade...am I trading with the trend, or am I trying to time a reversal? I usually limit risk to a range from 1/4% to 2% of my portfolio depending on how I judge the odds of winning.
Do not enter trades randomly: Always have a good reason for entering a trade. Typically, I look for shifts in the supply/demand balance of an asset to time my trade. Are there more sellers or buyers? Is the ratio of sellers to buyers changing? I use pivots in price, and changes in volume as clues to the nature of this dynamic at any given time.
Definitions
Swing reversal: A change in direction of an asset's price. In the case of a topping pattern, the closing price of the day (or week, depending upoin the time frame being used) is lower than the lowest price on the day/week that the asset made it high for the move. In the case of a bottoming pattern, the closing price of the day/week is higher than the highest price on the day/week it made it's low. I frequently use swing reversals as entry points to initiate or add to positions.
Risk Management: The most critical aspect of my trading is managing risk. I am more concerned with how much I can lose in a trade than how much I can make. The amount of risk I'm willing to tolerate depends on the situation around a trade...am I trading with the trend, or am I trying to time a reversal? I usually limit risk to a range from 1/4% to 2% of my portfolio depending on how I judge the odds of winning.
Do not enter trades randomly: Always have a good reason for entering a trade. Typically, I look for shifts in the supply/demand balance of an asset to time my trade. Are there more sellers or buyers? Is the ratio of sellers to buyers changing? I use pivots in price, and changes in volume as clues to the nature of this dynamic at any given time.
Definitions
Swing reversal: A change in direction of an asset's price. In the case of a topping pattern, the closing price of the day (or week, depending upoin the time frame being used) is lower than the lowest price on the day/week that the asset made it high for the move. In the case of a bottoming pattern, the closing price of the day/week is higher than the highest price on the day/week it made it's low. I frequently use swing reversals as entry points to initiate or add to positions.
Blog Archive
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2009
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November
(13)
- Happy Thanksgiving!!
- Its Turkey Day...Don't be a...errr Ostrich
- Mid Week Links
- Is America Finally Standing up To Wall Street?
- Shorting the Long Term US Treasury (TLT)
- Gold...the King
- Another Awesome Story by Matt Taibbi
- Weekly Links
- The Federal Reserve/Goldman Sachs and the Taxpayer
- Why are we asking the banks to increase lending?
- Why Keep Geithner?
- Weekly Links
- Tomgram: Matt Bivens, Pox Americana
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November
(13)
Followers
introducing Fubsy's Backporch War
Hey Folks!
Fubsy here. I'm starting this blog to shake things up. I feel like rabble rousing. There’s something amiss, and I want to stir the pot and sift through the watered down version of news fed to the American public to find something that more closely resembles truth.
So, I’m gonna sit here on my porch, sipping my Iced Tea, playing my banjo, and farting right along with my hound dog Lou, and somehow find the time to snoop around. dig up a little dirt, and sprinkle it on the pages of this here blog.
And I’m gonna make some money while I do that by beating the pants off Wall Street. I'm going to take money from the markets, as worthless as it’s becoming, and dole it out through my purchases to local folks…. farmers, craftspeople, nonprofits, environmental concerns, food cooperatives etc…I suppose I’m having a Robin Hood complex, but mainly I just want to contribute to a more sensible flow of money from wall street to tax payers and those who dedicate their lives to producing meaningful commerce, rather than the other way around.
I hope to have two threads running: One that shares noteworthy perspectives of prominent economic and political issues, and another that chronicles my trading.
Enjoy!
Fubsy
Fubsy here. I'm starting this blog to shake things up. I feel like rabble rousing. There’s something amiss, and I want to stir the pot and sift through the watered down version of news fed to the American public to find something that more closely resembles truth.
So, I’m gonna sit here on my porch, sipping my Iced Tea, playing my banjo, and farting right along with my hound dog Lou, and somehow find the time to snoop around. dig up a little dirt, and sprinkle it on the pages of this here blog.
And I’m gonna make some money while I do that by beating the pants off Wall Street. I'm going to take money from the markets, as worthless as it’s becoming, and dole it out through my purchases to local folks…. farmers, craftspeople, nonprofits, environmental concerns, food cooperatives etc…I suppose I’m having a Robin Hood complex, but mainly I just want to contribute to a more sensible flow of money from wall street to tax payers and those who dedicate their lives to producing meaningful commerce, rather than the other way around.
I hope to have two threads running: One that shares noteworthy perspectives of prominent economic and political issues, and another that chronicles my trading.
Enjoy!
Fubsy
About Me
Trading Rules
To Be completed
My Blog List
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