Category Archives: Politics: Tinfoil

This Mystery Has Legs

I don’t know if I have ever linked to the National Review before, but this is at the very least high-quality tin-foil stuff, and may in fact raise some genuine questions: The Very Strange Indictment of Debbie Wasserman Schultz’s IT Scammer.

Previously: Chew on This.

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Chew on This

Haven’t had any good tin foil postings in a long time–perhaps because so much of the crazy in politics these days is true. But here, via the Florida Bulldog is a good candidate: Overlooked class action against Democratic Party and Wasserman Schultz turns nasty.

The tin foil point is not the lawsuit, which strikes me both as likely meritorious and also unlikely to prevail for technical reasons, but rather the allegations of dark goings on all around it…

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Pity the Fiction Writers

You cannot make this stuff up.

This is not a photoshop, but a genuine pix released by the Saudi Press Agency, memorializing the moment when Donald Trump joined Egyptian dictator Abdel Fatah al-Sisi and Saudi king Salman bin Abdulaziz at the opening of the Global Center for Combating Extremist Ideology. Video, if you care.

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Obama Passes the ‘Sniff Test’

Not to be confused with Trump’s sniffing problem. The background to this video is that radio talk show host Alex Jones claimed on his show that President and Mrs. Obama are literally demons and smell of sulfur.

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Beyond Trumperdome

This kind of talk, from a WashPo piece quoting supporters at yesterday’s rally, is what powers the Trump machine:

Cheryl Burns, 60, was on a road trip from California when she heard that Trump would be in Alabama. She turned her car around and got in line, warning people of what happened to states when liberals took them over.

“There is no more California,” Burns said. “It’s now international, lawless territory. Everything is up for grabs. Illegal aliens are murdering people there. People are being raped. Trump isn’t lying about anything — the rest of the country just hasn’t found out yet.”

Various online commentators have suggested that the two attackers of a homeless Hispanic man in Boston, who cited Trump as their motivation, are the forerunners of American Brownshirts. And, certainly, Trump’s weak initial reaction was yet another indication of his general ugliness. Trump did get around to a proper condemnation of the attack after two days; either Trump didn’t want to upset his base, or (equally likely) he’s terribly staffed: either is pretty bad.

As a big fan of It Can’t Happen Here, I’m always alert for those brown signals, but I didn’t find nearly as strong signal in the actions of a couple of thugs (so long as it remains just a couple…) as I do in quotes like the one above. If large numbers of voters are living a reality-distortion zone in which California is now Mad Max land, anything is possible.

Posted in 2016 Election, Politics: The Party of Sleaze, Politics: Tinfoil | Leave a comment

Nutty, Even By Relaxed Modern Standards

TPM, With Eye on Fiscal Armageddon, Texas Set to ‘Repatriate’ Its Gold To New Texas Fort Knox.

On Friday, Gov. Greg Abbott signed legislation that will create a state-run gold depository in the Lone Star State – one that will attempt to rival those operated by the U.S. government inside Fort Knox and the Federal Reserve Bank of New York’s vault in lower Manhattan. “The Texas Bullion Depository,” Abbott said in a statement, “will become the first state-level facility of its kind in the nation, increasing the security and stability of our gold reserves and keeping taxpayer funds from leaving Texas to pay for fees to store gold in facilities outside our state.” Soon, Abbott’s office said, the state “will repatriate $1 billion of gold bullion ((As you will see if you read the article, this is malarky. There is no such $1 billion in gold from the Federal Reserve in New York to Texas.” In other words, when it comes preparing for the currency collapse and financial armeggedon, Abbott’s office really seems to think Texas is a whole ‘nother country

Just read it. And weep.

PS. Bonus crazy:

Indeed, Texas has no gold bars in the Federal Reserve’s New York vault. And what the state has is not worth a billion dollars. Instead some 4,200 gold bars bought in 2011 by the University of Texas’s endowment fund (the second largest in the country after Harvard’s) are stored in the basement vault of HSBC’s headquarters at 450 5th Avenue in New York City, just south of the New York Public Library. For the last four years, the endowment has paid an estimated $1 million per year to store their gold there. (If it had been at the New York Fed the cost would have totaled about $15,400 over that period). And the new depository law does not require the university’s endowment fund to relocate the gold to Texas.

How did UT end up holding actual gold?

In 2010 and 2011, … the University of Texas Investment Management Company’s board of directors … put nearly 5% of the then-$19 billion university and pension fund they manage into physical gold by converting options into bullion. …

When the endowment fund bought the gold, their basis for calculating a return – called their cost basis – was $1,150.17 per ounce. The fund eventually traded a third of their physical gold stake for gold futures and other equities, but never reduced their overall exposure to gold. That’s why they still own about 4,200 bars worth just under $500 million. After a significant run-up and subsequent fall in 2012, gold traded on Monday at $1,186. Over more than four years that just a 3% gain for the fund before you account for the cost of housing the gold in New York [which is $1 million / year] and the transaction costs that will be incurred if and when the endowment fund ships the bars back to Texas or sells them to a buyer. Over the same period, the S&P 500 index – a broad measure of owning stocks – gained 60%.

Posted in Econ & Money, Politics: The Party of Sleaze, Politics: Tinfoil | 3 Comments