Dear CIGAs,
Here is a video on Dark Pools that will help you better understand them.
Jim Sinclair’s Commentary
The failure of CIT will impact the "Real Economy" with No bailout for the Main Street victims.
This is one hell of a way to produce a level yield curve when you have cheap government money, and take over all the businesses by the major Banksters with "No mercy for the Real Economy." This is profitable business to steal.
CIT’s imminent failure is already having an effect on some businesses. This does not bode well for the "real economy!"
CIGA Marc says, "Moore Handley was founded in 1882 and is the second largest independent distributor of hardware in the United States (non-cooperative)."
Alabama Hardware Distributor Blames CIT Woes for Its Bankruptcy
By Steven Church and William Rochelle
July 18 (Bloomberg) — A hardware distributor in Alabama became the first company to blame the troubles of commercial lender CIT Group Inc. for its bankruptcy yesterday when it filed for protection from creditors.
Moore-Handley Inc., which supplies tools and other items to hardware stores and home centers, said in court papers that it was forced into Chapter 11 because it had difficulty getting cash from CIT, its lender.
The company has tried to negotiate with CIT, though “the federal government’s recent decision not to support CIT’s reorganization has thrown CIT into disarray and casts substantial doubt on CIT’s ability to continue to fund the Debtor’s working capital requirements,” Moore-Handley said in documents filed in U.S. Bankruptcy Court in Birmingham, Alabama.
CIT has reported $3 billion of losses in the past eight quarters and has been in talks with lenders about funding its own possible bankruptcy, according to people with knowledge of the matter. CIT may need as much as $6 billion to avoid filing for bankruptcy protection after the U.S. wouldn’t give the firm a second bailout, according to CreditSights Inc.
Curtis Ritter, CIT’s director of media relations, didn’t immediately respond to a request for comment.
The company received $2.33 billion in funds from the U.S. Treasury in December and hasn’t been given access to the Federal Deposit Insurance Corp.’s debt-guarantee program.
‘Crisis’ for Retailers
Jim Sinclair’s Commentary
A lesson in high velocity trading, or "Churning for Profit, Manipulation and Obscuration."
http://watch.bnn.ca/the-close/july-2009/the-close-july-15-2009/#clip193943
Jim Sinclair’s Commentary
The damage talking heads do is not limited to Financial TV. What they do not know could fill a universe. The damage they do is global.
Understanding the jihadis, by way of Sun Tzu
Sebastian Gorka, National Post Published: Friday, July 17, 2009
There are only two strategists in the eternal pantheon of great thinkers: The Prussian general Carl von Clausewitz and the mysterious Chinese military man Sun Tzu. The first warned us that the most important decision a leader can make before enjoining battle is to understand what kind of war he is embarking upon. Sun Tzu advised us that if we wish to guarantee victory, we must know two things: who we are and who the enemy is.
In regard to the Taliban and al-Qaeda, the latter question is mudded by the scores of talking heads and self-appointed military experts who have swarmed the North American media since 9/11. Far too many bandy about the terms Taliban and al-Qaeda with abandon, never taking a moment to define what they mean or to discuss the relevant links involved.
Words matter, even — or especially — when bullets are flying. And the question of who the enemy is has become all the more important since the arrival of a new U. S. administration, and especially after President Barack Obama’s Cairo speech. Whatever the strategy that replaces George W. Bush’s global war on terrorism, its architects must first define the nature of the enemy and the nature of the conflict we are in.
The Taliban are not al-Qaeda and al-Qaeda is not the Taliban. Yes, the Taliban gave safe-haven to Osama bin Laden and his organization after he was expelled from Sudan in the late-1990s. Yes, members of al-Qaeda and even bin Laden’s own family have intermarried within Taliban power-groups, including the so-called Quetta Shura. But the Taliban must be understood as a heterogeneous group of warlords with variegated pasts and disparate interests. Some are former members of the governing regime that was dislodged by U. S. special forces and the CIA after 9/11. Others are primarily narcotraffickers, while some are tribally defined and established masters of regions which have proved impossible to domesticate for centuries.
The only meaningful way in which the collective noun "Taliban" –and this is how the word should be understood –must be used, is as a descriptor for those individuals and forces which either subscribe to the fundamentalist totalitarianism that characterized Afghanistan before October 2001, or who exploit this ideology to protect vested interests since they would have too much to lose otherwise and because they have no interest in a vision of the Afghan future tied to the United States.
It’s Not An Option
By INVESTOR’S BUSINESS DAILY | Posted Wednesday, July 15, 2009 4:20 PM PT
Congress: It didn’t take long to run into an "uh-oh" moment when reading the House’s "health care for all Americans" bill. Right there on Page 16 is a provision making individual private medical insurance illegal.
When we first saw the paragraph Tuesday, just after the 1,018-page document was released, we thought we surely must be misreading it. So we sought help from the House Ways and Means Committee.
It turns out we were right: The provision would indeed outlaw individual private coverage. Under the Orwellian header of "Protecting The Choice To Keep Current Coverage," the "Limitation On New Enrollment" section of the bill clearly states:
"Except as provided in this paragraph, the individual health insurance issuer offering such coverage does not enroll any individual in such coverage if the first effective date of coverage is on or after the first day" of the year the legislation becomes law.
So we can all keep our coverage, just as promised — with, of course, exceptions: Those who currently have private individual coverage won’t be able to change it. Nor will those who leave a company to work for themselves be free to buy individual plans from private carriers.
From the beginning, opponents of the public option plan have warned that if the government gets into the business of offering subsidized health insurance coverage, the private insurance market will wither. Drawn by a public option that will be 30% to 40% cheaper than their current premiums because taxpayers will be funding it, employers will gladly scrap their private plans and go with Washington’s coverage.
