Skolnick COMMENTARY #011 ========================
[CfD Editor -- I neither necessarily believe nor disbelieve either all or portions of the following.]
[The following is a transcript of a recorded phone message put out by a group in Chicago called "Citizens' Committee to Clean Up the Courts." (312) 731-1100 and (312) 731-1505.]
Hi! Sherman Skolnick, Citizens' Committee to Clean Up the Courts, 9800 South Oglesby.
The signs are there, but not enough people are watching.
The stock market has been pumped up by a lot of people emptying their bank accounts and other financial accounts and buying mutual funds. The theory being: the managers of mutual funds [pay(?)] more than others. Oh, yeah?
And the mutual funds, in turn, buy stocks. So a lot of inexperienced, unsophisticated people have a lot of their life savings into stocks. Also, the very low interest rates have pumped up the price of bonds. On huge volume, the stock market has been churning -- inching up, and backing down -- as the ultra-rich use their newspapers, magazines, radio and t.v. to lure more and more suckers into the markets.
Traditionally, sizeable corporate interests buy off financial reporters to float stories heating up the know-nothings into buying. Some such reporters, and their editors, are double-dippers: their regular salary plus "under the table" to promote phoney stories. It's one of the great unpublicized scandals, along with the media acting to "shake down" companies to get advertising contracts [by] threatening to run negative items.
At the top of the market, the very-rich unload and it's called "distribution." Insiders know the horrendous news is waiting to be sprung. Such as terrible news about IBM, that their securities are being racked by the ratings agencies like Standard & Poors. Or even worse, that IBM may be pushed into bankruptcy by panicy banks. Items like that, if widely circulated, could be the pin to Wall Street's balloon. With the markets so puffed up, some think a specific "pin" is not necessary.
The press is avoiding discussion. We're facing a crash in bonds or in stocks, or *both* together.
A few realize the great danger of overstaying a bull market.
Question: Is Clinton up to it? Can he deal with the financial tailspin without using emergency powers -- such as shutting down the stock exchanges or halting the bond markets -- *huh*?!
Using domestic emergency powers is becoming more and more useless. High technology makes it easy to side-step Wall Street and trade on foreign exchanges with the blip of a computer mouse.
Also, so-called "derivatives" are the "tail wagging the dog" -- options and futures contracts and numbers games of every kind.
The ultra-rich promote paper money; they feel they can control the [peasants(?)] that way. On the other hand: independent money in gold, silver and platinum. When gold is able to stay over $410 an ounce, well, the paper money game will come to an end. The Federal Reserve and other private, central banks keep trying to keep gold under the magic number of 410. But demands for gold will wreck The Fed's dirty trick.
America and the western world are facing 3 historical cycles: the 500 year economic cycle, 1492-1992 (we're overdue on that one); and the 60 year cycle 1933 (the date of the bank collapse) and 1993; and then there's 1943 -- the Pope made a secret 50 year deal not to interfere with the western world and their financials. Of course it's up in 1993.
Strong central governments are becoming obsolete: Moscow, Washington, London, Paris and others.
What can you do? Huh-huh. Call up your news-fakers and tell them to stop *kidding* us, huh?!
In Chicago, see us on cable TV, channel 21. 9 pm [cst] Monday evenings, February 21, 28, and March 7.
Play it again: *Eliminating Presidents*, (312)731-1505. New message Thursday; we change it several times a week. Donations appreciated. Citizens' Committee to Clean Up the Courts, 9800 South Oglesby, Chicago, [Illinois] 60617. For the latest on courts, banks, espionage agencies, political assassinations, and the news media. On 24 hours...