[seahorse3]

The 1% are taking your lunch

Apparently, JP Morgan has taken gold and silver out of a warehouse. This gold and silver was owned by people who had receipts to prove it. Normally, this receipt would be proof of ownership right? You buy something and are given a receipt so I own it now give it back.

But this law, this paper receipt, doesn't protect you in a panic. There's a reason why people say possession is 9/10s of the law, because "the law" doesn't apply in a panic. The law of possession applies in a panic. We are in a moment of panic. Possession means everything. As JP Morgan has shown, this is the mad scramble for the lifeboats. Don't show me your ticket for a lifeboat, the lifeboat is already full and set to sail.

This panic is no different than panic in any emergency. Take a hurricane as an example. When a hurricane moves in, people hoard. All the gas, plywood, and believe it or not strawberry poptarts are gone within hours. People hoard and a few profit from gouging in a time of crisis. We have laws against the gouging, but those laws do precious little to prevent horading or gouging it and probably little is done after the fact. This just means, in a panic, the law won't protect you. The government won't help you. Go ask the people of New Orleans.

What does law of possession in a panic have to do with Peak Oil and JP Morgan? Everything. It shows that people at the highest institutional levels are hoarding all the commodities, be it gold, silver, fuel, arable land, water rights, even money itself. Banks aren't lending money; they are hoarding it and going so far as to taking gold and silver owned by others and hoarding that too. Is this normal? No. Everyone freely admits this is the worse financial crisis since the Great Depression.

These are all signs of an impending calamity we here know as PO. This freight train has been coming for years. PO has been known for years. Everyone that ever considered or wrote about PO always ended with what PO means, that in the end it meant the end of the financial world as we know it. That's what's happening now on Wallstreet and the hoarding on Wallstreet is bleeding into "mainstreet" with historically unprecedented Arab Springs (food crisis), OWS (protesting Greed) and Greek riots (protesting forced austerity). The Euro is imploding as I write.

Matthew Simmons, now deceased, wrote about PO back in 2005. He was an investment banker turned PO doomer. Think people in his banking circles didn't listen? Boone Pickens, who is buying up all the water rights (in addition to NG), is a PO doomer. He claims to have paid over $600 million in taxes. Do you think people in his circles don't listen to him? These are just two of a few voices in the top 1% crying panic. Their voices are just the tip of the old proverbial iceberg in their circles. Imagine what they say with their closest friends. Imagine their worse nightmares. Do you think they fear the "zombie apocalypse"? Yes, and we are the zombies.

If guys like Pickens are panicking and preparing by buying commodities and water, you can bet those "dark funds" and unregulated hedge funds are doing the same. We aren't the only ones prepping, the 1% are too, including China that is buying every resource it can use its dollars to buy. They recently bought interests in both Canadian and US natural gas companies. So, JP Morgan taking all the silver and gold from those with actual warehouse receipts is just another sign of the panic. They don't give a rats ass about your paper receipt. If they want it, they will take it. What greater sign of panic than the bullies taking another kid's lunch? This is just a precursor to your future. You will not be eating, but they will.

This greed isn't just greed in the normal sense of trying to make a buck without the hard work. This is institutional panic. This greed isn't going away. This is the mad scramble for the last remaining resources by everyone at all levels, except the sheeple, those few who are still too ignorant to read and understand the world they live in or too poor to do anything about it.

[vision-master]

FDIC insures bank deposits to $250,000, I heard banks have up to 99 years to pay?

[ObiWan]

Can you please list which credit unions have been suffering from institutional panic that we may avoid them? Last I looked, the US can't even sustain a decent run on its banks (let alone the credit unions), certainly the market hasn't tanked in fear, unemployment is down by the most in like 8 years, the chance of a double dip recession is receding rapidly, fuel prices are down this winter, liquids production just cracked the 90 million barrel/day mark last month..

http://earlywarn.blogspot.com/2011/12/i ... ember.html

and Simmons was not only one of those 1%'ers in your thread title but he was apparently looney tunes.

http://www.theoildrum.com/node/6789

Fortunately, no one was ever stupid enough to follow his advice and nuke the Gulf. They stopped the Macondo blowout in exactly the way they said they would, the way Simmons said it couldn't happen, and BP not only didn't go bankrupt from it, but they paid for the consequences out of mostly cash. And their stock is now back up. Apparently investment banking doesn't prepare you very well for understanding these technical issues like peak oil, or Saudi oil production.

I think Pickens, being a real oilman, understands these issues better, such as the mind boggling abundance of natural gas in America, and how it can be used as a transport fuel.

[MD]

Before oil history was full of resource wars. When oil came on the scene it took two world wars before mankind realized there was enough for all, and therefore no reason to fight so hard, at least for a time.

The signs are all there for increased conflict.

[eXpat]

Before oil history was full of resource wars. When oil came on the scene it took two world wars before mankind realized there was enough for all, and therefore no reason to fight so hard, at least for a time.

The signs are all there for increased conflict.

Now that is starting to get scarce (we are after all either in or past peak) is time to go back to the old proven, serviceable paradigm.

[seahorse3]

Unemployment is down the most in 8 years? More like the reverse.

Gas prices are down this winter, sure, they are always down in winter. Now, what were gas prices the winter of 1999? What was the price of oil in 1999?

Credit Unions? I and most zombie prefer credit unions to the thieving too big to fail US banks like the squid, I mean, goldman sachs. So, US banks won't fail, at least not the big ones, bc they are supported by my tax dollars. As for other banks? The Europeans are even being supported by US tax dollars and won't be allowed to fail in mass either. So, this idea of "too big to fail" is so anti-capitalistic that it will cause capitalism to fail as we know it, and most pundits agree with that. Now, all this free cash being handed out is a sign of the panic and hoarding. They loan out dollars for free to banks to keep them alive and they never lend it. This is unprecedented. Sign of the times.

Natural Gas - doesn't even make a dent in US transportation fuel consumption. Our of 250 million registered in the US for example, only 114k use NG. Further, the NG Civic, the only one you can buy in the US, cost $10k more than its non NG sister and gets less on a tank full than gasoline. So, the practicals that people would need to make a switch to NG just aren't there. Its as impractical as solar. NG isn't the savious of oil. It will not get the US off of its oil dependence. It will not make us energy independent.

[ObiWan]

Unemployment is down the most in 8 years? More like the reverse.

Well, certainly things aren't near as gloomy as they once were.

"the most states to report such declines in 8 years"

http://www.usatoday.com/money/economy/s ... 52108816/1

Not really unemployment, just the most states reporting improving conditions I guess.

Gas prices are down this winter, sure, they are always down in winter. Now, what were gas prices the winter of 1999? What was the price of oil in 1999?

Quite low. But why stop in 1999? How about the heyday of cheap crude, like 1986? Or the super cheap heyday, remember when gasoline was $0.25? Amazing how the price has gone up by more than an order of magnitude, and what did we achieve with it? 400+ HP muscle cars and near 200mph top speeds. DAMN but technology and higher prices were a boon for the breed.

Credit Unions? I and most zombie prefer credit unions to the thieving too big to fail US banks like the squid, I mean, goldman sachs. So, US banks won't fail, at least not the big ones, bc they are supported by my tax dollars. As for other banks? The Europeans are even being supported by US tax dollars and won't be allowed to fail in mass either. So, this idea of "too big to fail" is so anti-capitalistic that it will cause capitalism to fail as we know it, and most pundits agree with that. Now, all this free cash being handed out is a sign of the panic and hoarding. They loan out dollars for free to banks to keep them alive and they never lend it. This is unprecedented. Sign of the times.

Lots of things are unprecedented. The definition of panic does not require being unprecedented. All time high crude in 2008 was unprecedented as well, but hardly qualified as a panic. Like the OWS movement, I like credit unions. Down with the 1%, power to the people in credit unions! But doing it for panic? Nope.

Natural Gas - doesn't even make a dent in US transportation fuel consumption.

There is no reason it should. Gasoline has gone from $0.25 to $4.00/gal and we still build, buy, drive and commute to work in Corvettes. And cars powered by crude. There is so much of the stuff that we can't even convince people to buy machines fueled by other fuels, how pathetic is that? What I wouldn't give for a decent shortage, maybe some long term rationing plan? As long as Americans can be fooled by abundance and plenty, they certainly can't be counted on to see the error of their commuting ways. Maybe next energy crisis?

Our of 250 million registered in the US for example, only 114k use NG. Further, the NG Civic, the only one you can buy in the US, cost $10k more than its non NG sister and gets less on a tank full than gasoline. So, the practicals that people would need to make a switch to NG just aren't there. Its as impractical as solar. NG isn't the savious of oil. It will not get the US off of its oil dependence. It will not make us energy independent.

Probably not. But energy independence is a pipe dream anyway, one of those dreams politicians recall in a hazy form from back during the distant past, the last time Americans actually did panic, energy actually did matter, and the modern world woke up to its "dependency". That turned out to be a joke, so let us just hope that such complacency doesn't get us into such a bind this time, my personal feelings on what Americans deserve not withstanding.

[seahorse3]

There is panic at the financial level. As my post points out, it all ties in rather nicely culminating the end of this year with the Euro crisis. And, the panic crash in the financial world ties nicely with the plateau in world oil production. It's a job well done. Rising Gold is also a sign of panic. I should have put that in the post too, just forgot. If you go back to 2000 and watch the rise of gold, it too shows panic, stress in the system. Now, back in 2005, I was nominated poster of the year for correctly predicting the peak and downfall in US housing. I also said the layman should buy silver and not put it in stocks, and buy BPT. All those were very nice calls. Nicely done Seahorse!

[Sys1]

seahorse3 : I never trusted banks. Even before hearing about peak oil. Gold I bought is physical and located at home. I think it's safer to put gold you own under your bed than at the bank vault... to say the least.
About how good you are at seeing the future, I'm not so impressed. I myself did the same deduction back in 2005 when I discovered peak oil, but the real meaning of this is that it will end as Mad Max or Soylent green.

Euro will probably collapse next year, Eurozone will be a total mess made of riots at best, civil wars at worst. China economy will crash, USA economy will crash. From there, two cases :
1) Army or dictators take the power then we will head for world war 3 before 2020 and extinction of mankind around 2030.
2) Global totalitarism. End of freedom, lack of food/fresh water/hygiene/education, dying, torture, violence, but everything done in the name of the preservation of civilisation/society. Imagine North Corea on the whole planet to see the picture.

Note that during this mankind made mess, we are heading toward exponential instability of climate. Super storms, lack of rain, desertification... in conjonction with super resistant bugs/lack of oil will kill modern agriculture as we already hit 7 billions humans beeing. Whatever happens, prepare to get hungry.

[seahorse3]

For those that know me, I'm not really patting myself on the back. It was intended to be sarcasm bc I too believe it was all too foreseable and if I can see it, anyone can see it, except of course for those blinded by the light of false hope and promises.

[Sys1]

seahorse : Oki Actually, you seem to be a nice guy. Good luck.

[MD]

There is panic at the financial level. As my post points out, it all ties in rather nicely culminating the end of this year with the Euro crisis. And, the panic crash in the financial world ties nicely with the plateau in world oil production. It's a job well done. Rising Gold is also a sign of panic. I should have put that in the post too, just forgot. If you go back to 2000 and watch the rise of gold, it too shows panic, stress in the system. Now, back in 2005, I was nominated poster of the year for correctly predicting the peak and downfall in US housing. I also said the layman should buy silver and not put it in stocks, and buy BPT. All those were very nice calls. Nicely done Seahorse!

Post growth denial will ruin us... history demands it.

[Lore]

There is panic at the financial level. As my post points out, it all ties in rather nicely culminating the end of this year with the Euro crisis. And, the panic crash in the financial world ties nicely with the plateau in world oil production. It's a job well done. Rising Gold is also a sign of panic. I should have put that in the post too, just forgot. If you go back to 2000 and watch the rise of gold, it too shows panic, stress in the system. Now, back in 2005, I was nominated poster of the year for correctly predicting the peak and downfall in US housing. I also said the layman should buy silver and not put it in stocks, and buy BPT. All those were very nice calls. Nicely done Seahorse!

Post growth denial will ruin us... history demands it.

that is the problem. Control by the 1% depends on the false hope of 99% of getting the same slice of an expanding pie, the MO of liberal economic theory. But the pie is now shrinking as the oven goes out. When the pilot light extinguishes then the pie rots.

Henry Ford payed his workers a decent wage that was far and above the average for that time. Many of his 1% peers were upset with what they viewed was his generosity which would eventually end up changing workers pay expectations and rob the robber barons. What Ford understood, was that his workers would be his customers. Our corporations today have lost that insight through off-shoring and automation while paying lower wages, yet expecting to charge more for their products.

[vision-master]

Oy! Obiwankanobi is Shortywanthisbrainee.

lol - I was figuring the same thing - SHORTY!

[Quinny]

Me too

[basil_hayden]

As an early member of the X generation, what is this "lunch" thing that you speak of? Never seen it, never planned to see it.

[The Practician]

As an early member of the X generation, what is this "lunch" thing that you speak of? Never seen it, never planned to see it.

Yeah, and why should we care about your precious gold or silver, anyway? what was it exactly you planned to do with it? swim around in it like scrooge Mcduck?

[ColossalContrarian]

As an early member of the X generation, what is this "lunch" thing that you speak of? Never seen it, never planned to see it.

Yeah, and why should we care about your precious gold or silver, anyway? what was it exactly you planned to do with it? swim around in it like scrooge Mcduck?

I was hoping we could buy some infirmary’s for old people and collect their gold teeth!!! No sense in paying to keep those mooches alive anymore!