Category: Authors

PENNSYLVANIA’S WAR NOW ON TWO FRONTS

Thursday, August 7, 2014

PENNSYLVANIA’S WAR NOW ON TWO FRONTS

Izmir beachhead established. PKK raids Gülen Gang in Saylorsburg, Pa.

Candy, flowers and laughing women. Weeping, cursing and shoeboxes.
A pre-raid aerial view of the Gülen Gang’s headquarters, Saylorsburg, Pennsylvania

Harrisburg, August 7, 2014

By Max Placid / McClatchy Newspapers

In a morning mist, Pennsylvania’s paramilitary forces landed on the Turkish coast at Izmir on August 4. They met no resistance but they did encounter a jubilant Turkish crowd who greeted the Pennsylvanians by bombarding them with Turkish delight candy and Atatürk flowers. As the Rocky Balboa Brigade, an elite unarmed (except for their fists) attack force, sprinted down Martyrs Street, hilariously laughing women streamed into the Kordon, Izmir’s magnificent seaside esplanade. “Go Rocky!” they screamed through tears of joy, “Get Bulent for us!” Of course, they werereferring to the hapless Turkish deputy prime minister who bizarrely admonished Turkish women for laughing in public. It seemed to the surprised Pennsylvanians that they were participating in some sort of weird liberation. As the Balboa Brigade veered left onto Kemalpasha Street tables of sliced melon, white cheese and glasses of rakı (the Turkish national beverage) appeared. But the highly disciplined Pennsylvanians ignored the temptation. “Yo Turks! On the way back! On the way back!” shouted Colonel Rocky Balboa, brigade commander. It was obvious that their immediate objective was not Izmir.

On the home front, on the same day as the Izmir landing, Pennsylvania Governor Tom Corbett launched a pre-emptive pre-dawn raid on the CIA safe-house of an alleged imam, Fethullah Gülen. Gülen is a longtime, infamous ally of the Turkish prime minister. Both have been previously convicted—Gülen in absentia—of seditious behavior. Governor Corbett, now commander-in-chief of the hastily formed Pennsylvania Kombat Kommand (PKK), announced that he is fully aware of the conspiracy between the current Turkish government and what has been labeled the “Hey Pennsylvania” movement. “Gülen and Erdoğan are cut from the cloth,” said Corbett and elaborated in the following statement:

“Together they have conspired to destroy Turkish democracy. They have used the most disgusting, criminal methods in their treason. And I am ashamed to say that America’s CIA aided and abetted their crimes. Regardless of what others may think or say, the people of Pennsylvania have no place for these ‘religious’ two-faced criminals. An undercover gang in Pennsylvania will be quickly uprooted and brought to justice. And that’s the reason for the raid by the PKK.”

The Pennsylvania Kombat Kommand (PKK) is another quickly assembled strike team consisting of a highly-trained special weapons contingent of state policewomen, Pittsburgh Penguin hockey players and the starting lineup of the Philadelphia Phillies baseball team. All three groups are skilled in insertions, extractions and evacuations.
Jimmy Rollins
The raid of Gülen’s hideout at 1857 Mt. Eaton Road in Saylorsburg, often referred to as “Feto’s Farm,” was a complete success. Silence prevailed as the Kombat Kommand encircled the premises. Guards at the front gate were neutralized by Jimmy Rollins, the Phillies shortstop, who leveled his bat at the two gatekeepers. One of them, a Turk named Imdat Aptal, volunteered immediately to act as an interpreter. In appreciation, Rollins generously autographed Aptal’s copy of Pearls of Wisdom, by F. Gülen.

Thus having secured the entrance, a barrier of interlocking hockey sticks was implaced by the defensemen of the Pittsburgh Penguins. (Note: Being summer, the Penguins wore roller skates in this operation.)

“No one can pass!” ordered Rollins.

“Kimse geçemez!” echoed Aptal.

Immediately thereafter an impenetrable defensive perimeter was established by Rollins baseball teammates and the Penguins.

Meanwhile great wailing and lamentation came from the main house. Beddua this and beddua that, here a beddua, there a beddua, and every so often the word “parallel” was heard .

“What’s all this yelling about beddua?” asked A.J. Burnett, the Phillies big right-handed starting pitcher.

“The boss is angry again,” said Aptal. “He’s bedduaing, I mean, cursing and talking to Allah.”

“Yeah? Well you come with me and tell him that he better watch his mouth and that he’s being busted in the name of the Commonwealth of Pennsylvania.”

“Of course,” said Aptal.

Behind the mansion a backhoe was digging huge holes in a green field. Inside the mansion, sobs were gushing from the main office, as smiling police women searched Gülen and his premises. The air was electric. The full horror story of religious intrigue, espionage, prostitution, forgery, blackmail, narcotics trafficking, judicial corruption and treason might soon be revealed.

It was. The bookcases in the main office were not bookcases at all. Officer Mary Jane Stonebreaker leaned against a copy of Love and Tolerance, also by F. Gülen. and—wow!—the bookshelves suddenly swung open to reveal a vast storage vault. Endless ranks and rows of boxes filled the space. A warehouse of shoeboxes!

“Who lives here, Imelda Marcos?” asked the astonished police officer. “What the heck is this place? A shoe factory or something?”

Ryan Howard

Ryan Howard, his 36-ounce Louisville Slugger bat acting as her backup weapon, opened one of the boxes, this one labeled T. Erdog.

“This is a money factory, Officer Stonebreaker.”

“Gee, I only touched the book,” said the policewomen with an ironic laugh. “What would have happen if I read it?”

“Yeah,” agreed Howard, “I make 25 million dollars a year with the Phillies. These guys make that much in a day. We’re both in the wrong business.”

“But at least we’re honest,” said Officer Stonebreaker.

“Yeah,” said the big first baseman, “Let’s find this creep so you can bust him.”

Meanwhile the results of the outside excavation and the inside investigation were being displayed in the lobby. In addition to firearms and enough explosive devices to launch Pennsylvania into the afterlife, evidence of the long-term, continuing connection of the subversive relationship between the Gülen movement and the Erdoğan government abounded, to wit:

A box of counterfeit Marmara University graduation diplomas.

30 years of handwritten correspondence, birthday cards, thank-you notes and travel post cards between Gülen and Erdoğan. The latest from Erdoğan, dated July 4, 2014 and encoded in Turkic-English as follows:

DEER ESTEAMED FRIEND FETO, WE SHURE FOOLING THEM NOW. ALL THINK PARRRALLLELLL STATES IS TROO. HA HA HA. TANKS A LOT FOR STASH FOR KASH. I WILL BE A PRECEDENT OF TURKEY SOON NOW FOR SHURE. YOU BETCHA IN VON MINIT OR TOO. PLEEZE GIVE RIGARDS TO LOAF OF BREAD FRIENDZ AT AGENTSY. HEH HEH HEH. MEANS CIA. RTE

Scores of video cassettes revealed the auditioning of Deniz Baykal body-doubles. Outtakes show Fethullah Gülen sitting in a director’s chair wearing a beret and smoking a cigar. Every time he yells “CUT!” he takes a drag on his stogie, blows smoke, then curses frantically.

Feto Inc. Listening Device

Listening devices.

15 automatic signature machines.

37 cash counting machines.

Barrels of dice. Cartons of playing cards. Cases of poker chips.

236 new copies of The Complete Idiot’s Guide to Treason, Blackmail, Falsification of Evidence and Embezzlement.

7,698 copies of How to Fool All the People All the Time.

11 copies of The Joys of Montage, Subterfuge and Sabotage.

4,789 copies of How to Plant Evidence and Ruin People’s Lives.

A truckload of hypodermic syringes.

The search continues. “It is astonishing how these religious hypocrites use crime in the name of God,” said Governor Corbett. “We will continue to press the attack at home. And we are pleased to hear from Colonel Balboa that the Turks are with us. Pennsylvania Kombat Kommand! Your immediate objectives are Ankara, the parliament and the prime minister! Forward!”

All Gülen Gang personnel were booked at the Saylorsburg police station. Under the terms and provisions of the Patriot Act of 2001 and the Espionage Act of 1917, the accused gang members were remanded to the Monroe County Correctional Facility in Stroudsburg pending completion of the investigation.

####

James (Cem) Ryan

Istanbul

8 August 2014

August 8, 2014
Turkish Vice Prime Minister Ridiculed For Telling Women not to Laugh in Public

Turkish Deputy Prime Minster Bulent Arinc is the latest government official to put his foot in his mouth.

In a speech last week, this high-ranking official preached his perverted version of morality to Turkish women by telling them not to laugh in public! “A woman will know what is haram [forbidden] and not haram,” Arinc warned. “She will not laugh out loud in public. She will not be inviting in her attitudes and will protect her chasteness.”

Arinc, a co-founder of the ruling AK Party, continued his chauvinist sermonizing: “Where are our girls who slightly blush, lower their heads, and turn their eyes away when we look at their faces, becoming the symbol of chastity?” He ridiculed women for discussing cooking recipes and other “frivolous things” on cell phones. Imitating a female voice, he squeaked: “What happened to Ayse’s daughter? When is the wedding?” He told the women to talk about such insignificant matters “face to face,” not on the phone!

The Deputy Prime Minister’s demeaning remarks spread like wildfire. In defiance, tens of thousands of Turkish women went on social media (Twitter, Facebook, and Instagram) posting ‘selfies,’ pictures of themselves, laughing out loud. Rather than stopping their laughter, women started laughing … at him!

Arinc’s ridiculous comments were picked up by the international media, including Hurriyet, the guardian, ABC News, The Daily Star, National Post, Washington Post, Time magazine, Newsweek, The Australian, and hundreds of newspapers, magazines, radio and TV stations, blogs and websites. The Turkish Deputy Prime Minister has become the laughing stock of the world!

The next day, instead of apologizing for his sexist remarks, Arinc made matters worse by insisting that he stood by his words, and attacked his critics. He wondered why everyone was focusing on a small segment of his hour-and-a-half speech. He proceeded to mock female celebrities: “There are some artists who laugh artificially and send me their photos. Real laughs relieve a person, but these are artificial ones. You all had your moment of fame, but when that eluded, you tried to attract attention with alcohol and such fake laughter. Despite being married with kids, women go on vacation with their boyfriends, while leaving their husbands behind, and never miss a chance to wrap themselves around a dancing pole.”

This is not the first time that Turkish officials have made such asinine statements. In the past, Arinc was quoted saying that a rape victim must have “wanted it.” He also stated that it is perfectly fine if parents give permission to their 15-year-old daughter to marry a 45-year-old man. Ankara’s Mayor Melih Gokcek, while condemning abortion, shamefully declared: “Why should the child die if the mother is raped? The mother should die instead.” Meanwhile, the Forestry Minister told women who were seeking employment, “Isn’t your housework enough?” Former Minister for European Union Affairs, Egemen Bagish, an AKP official who frequently made nonsensical statements, was quoted: “What happened in 1915 can’t be classified as genocide as far as I am concerned, but I was not around in 1915.”

Rather than being worried about women’s laughter, Arinc and Erdogan should be more concerned about their government’s increasing slide into authoritarian rule by jailing journalists, killing Christian priests, violating minority rights, supporting Jihadists in Syria and Iraq, and engaging in corruption, theft and embezzlement. This is the real immorality that Arinc should denounce.

By preaching totalitarian morality for women, the conservative Turkish leader is appealing to Islamist voters to support Prime Minister Erdogan who is running for President on August 10. Arinc’s stone-age strategy has backfired as nearly half of Turkey’s deeply divided society does not consider itself Islamist and was offended by his remarks. Erdogan’s rival in the presidential race, Ekmeleddin Ihsanoglu, blasted Arinc’s statement, saying that “more than anything else, our country needs women to smile and hear everyone’s laughter!”

After Erdogan’s meteoric rise to power, his government has pursued brutal policies at home and abroad, bringing worldwide condemnation to the country. As the probable next President, Erdogan and his clique are most likely to continue undermining Turkey’s international standing, turning it into a rogue state. After the presidential election, Turkey’s Islamist women would only laugh in private, while the secularists would laugh in public and risk getting 100 lashes!

August 6, 2014
POOR RICHARDS REPORT CHAPTER 4

POOR RICHARDS REPORT
The Trumpets are Blowing Chapter 4

CAVEAT EMPTOR! BUYER BEWARE!!!!!
The stock market crash of 1973-74 was a beauty. It was caused by Watergate and OPEC and we had to wait in line for gasoline at high prices. All the safeguards put in place in the 1930’s and 1940-41 worked like a charm.
The public was bombarded by the most famous ad. “Merrill Lynch – We are BULLISH on America!”’ It did not say or even mention stocks, but the country. It calmed the public to stay the course of sensible investing.
Meanwhile back on the ranch (Wall Street) they were getting their comeuppance. Everything and everyone that centered on personal gain at the expense of the public and “the common good” got wiped off the street. When all the losses were tallied up the “street” took a 50% “haircut across the board”.
The Congress congratulated itself on a job well done, but failed to hold any hearings on how improve the situation. They left it up to the survivors to assess the damage and improve where there were weaknesses.
The red caution light suddenly turned bright green in the financial districts: the public be dammed. It was “our hide that counts” since they ran the businesses. (The same mantra is now prevalent in the Congress. “We are responsible for 300 million people – we should be paid well for it at the taxpayers’ expense.”)
The first new plot was options. With a little money (easy credit again, but disguised) one could buy a call (option to buy at a set price over set time) or a put (an option to sell a security at a set price or a certain period of time) aided by computers. In the beginning it was a disaster even for major institutions. Firms that had little control over salesmen quietly sunk in the manure pile of greed. New laws and new restrictions were instituted by the wall street. Now only 85% of all trades were losers.
Instead of quietly changing the laws of mutual funds (mainly because the efficiency of computers) mutual funds grew to be mighty aircraft carriers in the sea of investment pools.
Program trading programs were designed to bring money in from staid long term institutional funds. This was the cause of the crash of ’87. The computer whiz kids sat at their desks counting the commissions and forgot to pull the plug. At the end of the day they too got hosed.
The Reagan tax cuts brought more funds flowing everywhere including the markets.
George H W Bush wisely raised taxes a little bit to slow the economy down.
Robert Rubin, then Secretary of the Treasury, (the first of many Goldman Sack’s men to serve high public office officials) came up with a novel way of reducing government debt and taking campaign issue away from Republican candidates. He lowered the capital gains taxes on long term holdings down to as low as 15%. He also wiped out short term trading tax penalties. You were now taxed as ordinary income. The one thing the public hates to do is pay taxes to those bastards in Washington D.C., but 15% is really a deal.
So all the mom and pops nationwide sold their holdings and bought securities that had a better dividend or growth potential. All those receipts reduced the national debt dramatically until 9/11 occurred.
During the Clinton years Sandy Weil, the chairman of Citicorp, convinced Congress to repeal the Glass-Stiegel Act and the last check on Wall Street was dumped into the slimy garbage can of greed.
Now all the safeguards put in place are gone, but the powers that be are wiser than their predecessors. Just Ask Them.
What they have done is to protect themselves after a crisis. They start off protecting the client until it gets messy, then the gloves come off so they can grab the funds with hidden fees and penalties that are a God Given right.
So one final thought, the economy is slowly climbing back into positive territory, but all the safeguards and protections have been trashed.
When this happens it will be from one country to the next. It could start with the United States or Saudi Arabia, or India, or Chile.
One thing is for sure. The Nazi Gestapo of WWII are now our Major Bankers worldwide, and our elected officials are the concentration camp guards while we wait to take a “shower”.
Mark Twain is quoted, “ History doesn’t repeat itself, but it does rhyme”.
Next letter is all the reforms that we need – worldwide – to avoid Armageddon. (Revelations 16:16 Bible New Testament)

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August 3, 2014
NO LAUGHS FOR TURKEY’S CRYBABY

Bülent Arınç weeping at a microphone

While violence consumes its neighbors, it’s holiday time in once secular Turkey, now under occupation by a religious fascist government, all praise to Allah and America. Celebratory candy and sweet pastry abound. And naturally Deputy Prime Minister Bülent Arınç is worried about decay. No, not tooth decay, moral decay. And so he spoke out about moral decay, ignoring the fact that he and his American-puppet partners have destroyed any aspect of secular democracy in Turkey and in its neighbor countries. And that they sponsor one of the most brutal, barbaric gangs ever assembled to slaughter, rape, behead and crucify innocent people…well, it must have slipped the deputy prime minister’s mind. What also slipped his mind was the fact that his party members in general, and the prime minister and his cronies in particular, have surely set unofficial Guinness world records in immorality. But our intrepid deputy prime minister dropped neither tear nor syllable about these inconveniently immoral truths.

Instead he spoke of the moral decay caused by women laughing in front of anyone, that is, in public. What is indeed decadent is how this sanctimonious religion-mongering ruling party uses any excuse to give stupid advice. Not only shouldn’t women laugh in public, they should not display their attractiveness. “Their” women have certainly achieved the latter. As far as their laughter, who noticed? But laughing in public as being an offense? This is hilariously pathetic. Who writes the speeches for these people?

This deputy prime minister is famous for spewing crocodile tears at the hint that moisture might be required. He is also famous for his melodramatics in the hoax that was Ergenekon. His histrionics regarding imagined assassination attempts were epic. Adding further moral disgrace to his ill-repute, he had also given his moral judgment that in Ergenekon “Turkey is cleaning its intestines.” That the whole Ergenekon-Balyoz affair that destroyed the Turkish military and the nation’s security system was a phony also escaped his moral decay concerns. That his own party has admitted it, also eluded him. His no-laughing-in-public agenda item is the sickest joke of all. Except for the following.

That he lied…that he cooperated with the Gulen movement…that he was complicit in treason…that he collaborated with the CIA…all this has escaped his moral compass. And all this has escaped the moral compass of his “pious” followers who pride themselves on their religious piety. Such weirdness! To have a piety with so little to do with morality and so much to do with decay.

But take heart. The deputy prime minister also feels that teenage sex addiction is caused by certain TV programs. And that this causes violence to women. And therefore, women should never laugh in public and should look as ugly as possible in public. A brilliant policy indeed. In short, the deputy prime minister wants all of us to look like them…

Gentlemen! Ladies! Children of all ages! On the count of three, let us together give the deputy prime minister a great big public laugh. One…Two… THREE!

HA!

James (Cem) Ryan

Istanbul

29 July 2014

July 31, 2014
Australia Must Dismiss Foreign Minister For Denying the Armenian Genocide

The Turkish Sabah newspaper published last week the following disturbing news: “Australian FM: Armenian Case not Genocide.”

Sabah described the events that led to its nefarious headline. Gunay Evinch, board member and past president of the Assembly of Turkish American Associations (ATAA), had recently visited Australia to brief local Turkish groups on the Movsesian lawsuit. He told them that “the United States Supreme Court let stand a 9th Circuit Court of Appeals’ decision invalidating a California law that had defined the Armenian case as genocide, because it was US federal policy not to define the Armenian case as genocide.”

Sabah also reported that Evinch’s visit was “a part of a broader Anglo-Turkish Diaspora Cooperation Program in which Turks in the United States, Canada, United Kingdom, Australia and New Jersey (sic) share best practices based on a common jurisprudential and political heritage.”

Following Evinch’s advice, Ertunc Ozen, President of Australian Turkish Advocacy Alliance, wrote to Australia’s Foreign Minister Julie Bishop on May 5, “expressing concern at motions passed by the parliament of New South Wales in May 2013 regarding Turkey and the fate of various communities of the Ottoman Empire during and after World War I.”

Foreign Minister Bishop wrote to Ozen on June 4: “The Australian Government acknowledges the devastating effects which the tragic events at the end of the Ottoman Empire have had on later generations, and on their identity, heritage and culture.” Astonishingly, she added: “We do not, however, recognize these events as ‘genocide.’ Australian states and territories have no constitutional role in the formulation of Australian foreign policy. While respecting the rights of individuals and groups to have strong views on the matter, the long-standing and clear approach of the Australian Government has been not to become involved in this sensitive debate.”

The Foreign Minister is wrong on three counts: 1) She erred in stating that Australia does not recognize the Armenian Genocide. While the Australian government prefers not to use the term genocide in order not to antagonize Turkey, no other official has ever stated that it was not genocide; 2) She incorrectly wrote that the Australian states that recognized the Armenian Genocide were formulating foreign policy. These states had simply acknowledged a historical fact; and 3) She contradicted herself by stating that the Australian Government does not get involved “in this sensitive debate,” yet she did permit herself to get involved by stating that it was not genocide!

Vache Kahramanian, Executive Director of the Armenian National Committee of Australia, immediately dispatched a strongly-worded letter to the Foreign Minister, calling her ‘misguided statement’ ‘deeply insulting and hurtful to the Armenian-Australian community.’ He also characterized Bishop’s views as ‘intolerable,’ ‘inexcusable,’ ‘a grave offense,’ and ‘a disservice to all Australians.’ Kahramanian justifiably wondered, “How can Australia’s moral conscience become so corrupted?”

ANC-Australia’s Executive Director reminded the Foreign Minister that her statement was in stark contrast to “the views held by many senior ministers in the current government. As recently as April 2014, Australia’s Treasurer, the Hon. Joe Hockey MP, issued an official statement on the 99th anniversary commemoration of the Armenian Genocide marking April 24 as the day ‘we gather to remember the 1.5 million people who perished in the genocide.’ Ministers Turnbull, Morrison, along with ranking members from Labor, the Greens, minor parties and Independents have called on the Australian Parliament to officially recognise the events of 1915 as genocide. Australia’s Prime Minister, Tony Abbott, during his years as Opposition Leader, issued an annual statement referring to the Armenian Genocide with no qualifiers or euphemisms.”

Kahramanian also told the Foreign Minister: “By denying the Armenian Genocide you are also denying Australia’s very own history. Located within Australia’s National Archives are countless numbers of testimonies by ANZAC prisoners of war who were held captive in the Ottoman Empire…. These testimonies vividly recall the suffering and annihilation of the Armenian people.”

ANC-Australia Chairman Greg Soghomonian urged the Foreign Minister to “immediately reverse this critical error of judgment,” and requested a meeting with her.

I suggest that Australian-Armenians ask Prime Minister Tony Abbott whether the Foreign Minister had cleared her deeply offensive letter with him beforehand. If she had not, the ANC-Australia should demand her immediate dismissal. ANC should ask all three Australian state parliaments that have recognized the Armenian Genocide to adopt a new resolution condemning Foreign Minister Bishop’s denialist stand and urging the Prime Minister to fire her!

July 30, 2014
POOR RICHARDS REPORT

POOR RICHARDS REPORT
Money Market Funds
“There is no such thing as a free Lunch”

POOR RICHARDS REPORT
Money Market Funds
“There is no such thing as a free Lunch”
Way back when Merrill Lynch Pierce Feener and Smith were the top firm on Wall Street, they used their combined creativity to come up with the idea of a daily interest paying money market fund for their special accounts.
Soon everyone was ready to copy them, especially after a major institutional brokerage firm got hit for a million dollar withdrawal. It was paid and the fund maintained the $1. ( It was rumored that the partners came up with cash to maintain the dollar price.)
After that the new industry was off and running with the blessing of the SEC and other banking authorities. No one gave serious thought to the savings bank industry. They paid interest quarterly – not daily.
The Savings Banks operated under very strict rules, where initially the public trust came first and foremost. It was for the general public good. But the computers were fast changing the way “the street” could do business. No one thought long term, probably because the higher priced lobbyists outfoxed the savings industry representative.
Moneys quickly left savings banks as investors sought competitive rates on a daily basis.
I can not figure out why they did not let the savings banks have money market funds too.
They would have paid a different rate too.The government also started The Federal National Mortgage Association (Fannie Mae) where banks could turn over their mortgages to a government agency that had IMPLIED GUARANTEES (GSE’s Government Sponsored Enterprise’s).
WE NEED A CZAR WHO CAN SETTLE DISPUTES BETWEEN AGENCIES.
The theme here is that it would help all the people whether they could qualify or not under normal procedures. Savings banks were now down to buying legal corporate A rated debt(legal) or better. Why should the banker take a on a risky mortgage when he can dump on the government at tax payers expense?
So lets go fast forward a few decades. The Housing bubble has burst along with Fannie Mae and his sister. Savings banks are now buying 100% Treasury Bills and a mortgage is hard to come buy. The money market funds have been buying Trillions of short term debt sponsors by national central banks because the industry is so large and the economy is so weak that short term corporate debt is a sign of weakness- or the debt is too small to be meaningful.
Before anyone knew it Greece and Portugal were having financial problems. This forced major countries to try to help them. Why? Because their banks owned the debt and would fail. So all the problems going on with the Euro has to do with no one regulating and administering to the Money Market funds. Almost anyone can start one and those little fees add up when you are taking in hundreds of millions.
There will be a day soon when the economy is considered strong enough to allow the funds to “break a buck”.
This means that most will trade below $1.00 and a few might go above $1 which would invite a liquidating of orders.
So if you own a money market fund sell. Go to cash. Cash is king. When one has cash one can act on a moment’s notice.
Remember; we might see a day when there is no opening quote- just the letters BW ( Bid Wanted).
During a panic, some stocks might open up at ½ of book value for an initial trade before the smart investors wise up.
Addendum:
The July 24, 2014 FINANCIAL TIMES page 30
SEC APPROVES MONEY FUNDS REFORM
Some face move to floating share price
Bid to prevent runs on the instruments

It took two years and the vote was 3-2 when it should have been 5-0. These are public monies in these funds.
Secondly, banks should not borrow money themselves. They should be debt free.
Thirdly, it is my humble opinion that they are giving the funds to get their “house” in order or it is time to liquidate the fund entirely.
Fourthly, they will be allowed to charge a fee upon redemption which goes against the original intentions.
This will not be a simple procedure or an easy process when you have over 900bn ‘prime’ funds that will be affected by the changes.
Again, these all favor the big wigs. This sucks!
Dump your money market funds as fast as you can.
Cash is king

Do not depend upon the Legal system to bail you out.
The Law should be above Politics.
New York State Court of Appeals was known as the second best court of the Land. The reason is because until the last 20 years, it never had a decisions reversed by the US Supreme Court.
The reason for this was simple.
In each county when a judgeship was available the attorneys would meet and the potential judges would make their names known. All qualified attorneys belonged to the local Bar Association. They would meet and vote who they believed was the most qualified among them.
Then that candidate would be endorsed by the parties who represented in the Bar Association. They ran unopposed because in theory the LAW was above Politics. For higher judgeship’s the same process was done except the county officer of the Bar Association would vote. Endorsement by the association meant that candidate would run unopposed.
Today, endorsement by the American Bar Association means very little. It is all politics. Very seldom does the US Supreme court have a unanimous decision. They are usually 5/4 split decisions.
Instead of deciding on the merits of the law, they are trying to make laws. That is suppose to be the function of Congress. The Congress makes the law and the Supreme Court validates the law or declares it unconstitutional and sends it back to the Congress.
Since computers and the internet have brought nations closer together we must now work together on a legal system that is fair and just to everyone. In a true democracy the minority is given due consideration providing they are not preaching total destruction of the system.
Members of the liberal and conservative factions of the political parties must unite on the selection of judges. Often Judges have to make decision in cases where they have little expertise and must rely on honest consultation among their peers.
What better way than to be chosen by your peers with the understanding that one will act impartially or face disbarment.

July 27, 2014