Tag Archives: Bullshit Artists

Showdown With the IRS at the Not-OK Corral

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“The terror-inducing IRS is in total defensive mode. It’s employees just can’t seem to remember anything. ‘I don’t know.’ ‘I don’t remember.’ ‘I’m not familiar with that detail.’ ‘It’s not my precise area.’ ‘I’m not familiar with that letter.’ This is according to Peggy Noonan in a recent Wall Street Journal article. If you say you don’t recall, the government cannot get you for perjury. Of course, taxpayers cannot tell the IRS ‘I don’t recall how much income I made.’ The IRS just assesses a tax, and you have to prove otherwise. But now the IRS is on the receiving end of an inquisition. The nation cheers. Are they stonewalling? You bet.”

http://teapartyeconomist.com/2013/05/24/showdown-with-the-irs-in-the-not-ok-corral/

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Secrets From The Sexist Pitchbook Of One Of Wall Street’s More Notorious Firms

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“BuzzFeed has obtained the ‘Golden Pitchbook’ used by top brokers at John Thomas Financial. In its pages: How cold-calling brokers pressure prospects to buy stocks from the troubled firm.  The aggressive pitch tactics in the book and supporting JTF documents, such as what one scenario described by the source as ‘Don’t Pitch The Bitch,’ have caught the attention of the FBI, the Securities and Exchange Commission, and the Financial Industry Regulatory Authority.”

http://www.buzzfeed.com/mariahsummers/exclusive-secrets-from-the-sexist-pitchbook-of-one-of-wall-s

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The Words That Sent the Stock Market Tumbling

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EPJ13

“Stocks closed down nearly 1 percent in a volatile session after the minutes from the last Fed policy setting meeting suggested the Fed is divided on when it may start to pull back on its monetary stimulus.  The market had moved higher earlier in the session when Fed Chairman Ben Bernanke reiterated that tapering bond purchases will depend on an improvement in the economic data.  But then during the Q & A, Bernanke said that the Fed could decide to scale back the pace of bond purchases at one of the ‘next few meetings’ if the economic recovery looked set to maintain forward momentum.”

http://www.economicpolicyjournal.com/2013/05/the-words-that-sent-stock-market.html

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Yes, Soros Sold Off Gold (But Then Bought Gold Miners)

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the-daily-bell-top-logo61

“The mood on metals has soured and thus one is left with two options: Expect more of the same as gold pursues another leg down or fight the trend, presumably under an assumption that it has run its course. Soros seems to have made up his mind. And in doing so has surprised us. With Soros it’s probably a case of watching what he does, not what he says – as the article points out, he loves to mislead the public by giving voice to one opinion while investing in an entirely different way.  Also, Soros is about as big an insider as there is. If anyone understands the near-term future of metals prices it might be him. What exactly does he know?”

http://www.thedailybell.com/29132/Strange-Times-Indeed-Soros-Buys-the-Miners

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Hong Kong Mercantile Exchange closes its doors; investors compensated in cash

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“HKMEx chairman Barry Cheung Chun-yuen told the Sunday Morning Post that the decision to surrender the trading licence and not reopen for business tomorrow would have no impact on investors and that client contracts would be honoured. ‘There is no question of not getting your money back or anything like that. People absolutely do not have to worry about that and I don’t think they are. The only thing they will want to know is what settlement price will be used,’ Cheung said.”

http://www.scmp.com/news/article/1240917/hong-kong-mercantile-exchange-closes-its-doors

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Reefer Madness… by Executive Order

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“In Meridian, Idaho, Mayor Tammy de Weerd has taken it upon herself to use tax dollars to spread Reefer Madness to her constituents.  By Executive Order, Tammy established the Mayor’s Anti-Drug Coalition (MADC), which received $625,000 from a Drug-Free Community Grant through the federal government. Now a Meridian resident notes that the town has been distributing these anti-marijuana leaflets inserted in the water bill!  The flyer is full of discredited nonsense, exaggeration, and misdirection. Remember, this is a city government, most likely using federal grant money, to send false information about a political issue in official communications to their citizens.”

http://www.drugwarrant.com/2013/05/reefer-madness-by-executive-order/

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How long can this rally last?

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“Is today’s rally in stocks something you can count on and invest in with profitable  results?  Or is it likely to end soon — most likely, just as you put YOUR money on the table?   Among the thousands of investors flocking to Las Vegas for the Money Show this week — in workshops, during cocktails and around the hotel’s gambling tables — this is the big question being asked over and over again.  It’s the same question debated on Yahoo! Finance, CNBC, and in the halls of big Wall Street firms.  Everyone wants to know. Many venture to guess. But we do know that most stocks are going up for all the wrong reasons.”

http://www.moneyandmarkets.com/how-long-can-this-rally-last-51887

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An open letter to marijuana prohibitionists and so-called third-way-ers

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couch1

“I keep hearing from your side that you have noble motives for your opposition to marijuana legalization. I hear that all you care about is using scientific inquiry to determine what is best for the people. However, I’m not sure if you’re aware of it, but you keep talking about things in ways that aren’t scientific, or that are meaningless without the proper context.  That kind of thing may have worked once, but in general, people are a little more sophisticated about scientific knowledge — they no longer uncritically accept ‘Here be dragons’ for cartography or ‘If she floats, she’s a witch’ as a judicial system.”

http://www.drugwarrant.com/2013/05/an-open-letter-to-marijuana-prohibitionists-and-so-called-third-way-ers/

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Bill Bonner: This is not a normal economy at all

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BillBonner

“‘Normal’ is what you get when you don’t experiment.  So, how can you get to ‘normal’ from a ‘Great Experiment?’  We will leave that for the philosophers of tomorrow. Today, we’ll merely suggest that maybe this economy isn’t so normal. What’s normal about an economy where the major financial institutions can borrow money at zero real cost? What’s normal about an economy in which people who have run their businesses so recklessly that they had to be bailed out by the government are still running their businesses…and can now borrow at lower rates than good businesses?”

http://www.equitymaster.com/dailyreckoning/detail.asp?date=05/17/2013&story=4&title=This-is-not-a-normal-economy-at-all

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Maryland: Another City Forced To Refund Illegal Photo Tickets

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“Hagerstown, Maryland announced Wednesday that it would refund 808 illegally issued speed camera tickets. Brekford Corporation mailed the citations between the end of December and January using three automated ticketing machines that failed to meet the certification requirements of state law.  A motorist who intended to fight a photo ticket requested the calibration certificate for use at trial in January, but the city responded with a March 5 letter denying the request, despite the law’s requiring calibration documents be kept on file.”

http://www.thenewspaper.com/news/41/4102.asp

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