Through TRUTH we Will Create a Better World Together. There is no real division of left or right, religions, or anything else, it was all created to keep us separated. Coming together as ONE in Truth we are the Power! We CAN and WILL create the world as it is meant to be through Truth of What is and Ourselves! In Truth We Stand!
Friday, December 18, 2009
This Story Gets me SICK! This is A SCAM with what Banks ARE Doing!! Outrageous!
There is fine print in the loan modification application saying the homeowners give up their rights to foreclosure notice if the bank rejects their loan modification, they can foreclose on them without notice, even when people are making their payments on time of the temporary loan modification.
The bank can decide they won't modify the loan and then simply put it up on auction without notice.
The woman in the article, had been making her payments and even made a payment on Nov. 30th for December, but had a knock on the door by the "new owners" who purchased it at auction that morning.
This is one of the MOST DISGUSTING THINGS I have ever read in what banks are doing AFTER GETTING BILLIONS AND TRILLIONS!
ANYONE WHO HAS A TEMPORARY LOAN MODIFICATION NEEDS TO BECOME AWARE OF THIS - IMMEDIATELY - THEIR HOUSE CAN BE TAKEN WITHOUT WARNING!!
Link to Article:
http://www.mcclatchydc.com/227/story/80867.html
WASHINGTON — Ten months after the Obama administration began pressing lenders to do more to prevent foreclosures, many struggling homeowners are holding up their end of the bargain but still find themselves rejected, and some are even having their homes sold out from under them without notice.
These borrowers, rich and poor, completed trial modifications of their distressed mortgage, and made all the payments, only to learn, often indirectly, that they won't get help after all.
How many is hard to tell. Lenders participating in the administration's Home Affordable Modification Program, or HAMP, still don't provide the government with information about who's rejected and why.
To date, more than 759,000 trial loan modifications have been started, but just 31,382 have been converted to permanent new loans. That's averages out to 4 percent, far below the 75 percent conversion rate President Barack Obama has said he seeks.
In the fine print of the form homeowners fill out to apply for Obama's program, which lowers monthly payments for three months while the lender decides whether to provide permanent relief, borrowers must waive important notification rights.
This clause allows banks to reject borrowers without any written notification and move straight to auctioning off their homes without any warning.
That's what happened to Evangelina Flores, the owner of a modest 902 square-foot home in Fontana, Calif. She completed a three-month trial modification, and made the last of the agreed upon monthly payments of $1,134.60 on Nov. 1. Her lawyer said that in late November, Central Mortgage Company told her that it would void her adjustable-rate mortgage, which had risen to a monthly sum above $2,000, and replace it with a fixed-rate mortgage.
"The information they had given us is that she had qualified and that she would be getting her notice of modification in the first week of December," said George Bosch, the legal administrator for the law firm of Edward Lopez and Rick Gaxiola, which is handling Flores' case for free.
Flores, 58, a self-employed child care worker, wired her December payment to Central Mortgage Company on Nov. 30, thinking that her prayers had been answered. A day later, there was a loud, aggressive knock on her door.
Thinking a relative was playing a prank, she opened her front door to find two strangers handing her an eviction notice.
"They arrived real demanding, saying that they were the owners," recalled Flores. "I have high blood pressure, and I felt awful."
Court documents show that her house had been sold that very morning to a recently created company, Shark Investments. The men told Flores she had to be out within three days. The eviction notice had a scribbled signature, and under the signature was the name of attorney John Bouzane.
A representative in his office denied that Bouzane's law firm was involved in Flores' eviction, and said the eviction notice was obtained from Bouzane's Web site, www.fastevictionservice.com.
Why would a lawyer provide for free a document that gives the impression that his law firm is behind an eviction?
"We hope to get the eviction business," said the woman, who didn't identify herself.
Flores bought her home in 2006 for $352,000. Records show that it has a current fair-market value of $99,000. The new owner bought it for $78,000 at an auction Flores didn't even know about.
"I had my dream, but now I feel awful," said Flores, who remains in the house while her lawyers fight her eviction. "I still can't believe it."
How could Flores go so quickly from getting government help to having her home owned by Shark Investment? The answer is in the fine print of standard HAMP documents.
The Aug. 25 cover letter from Central Mortgage Company, the servicer that collects Flores' mortgage payments, offered Flores a trial modification with this comforting language:
"If you do not qualify for a loan modification, we will work with you to explore other options available to help you keep your home or ease your transition into a new home."
CMC is owned by Arkansas regional Arvest Bank, itself controlled by Jim Walton, the youngest son of Wal-Mart founder Sam Walton.
A glance past CMC's hopeful promise finds a different story in the fine print of HAMP document, which contains standardized language drafted by the Obama Treasury Department and is used uniformly by lenders.
The document warns that foreclosure "may be immediately resumed from the point at which it was suspended if this plan terminates, and no new notice of default, notice of intent to accelerate, notice of acceleration, or similar notice will be necessary to continue the foreclosure action, all rights to such notices being hereby waived to the extent permitted by applicable law."
This means that even when a borrower makes all the trial payments, a lender can put the house up for auction if it decides that the homeowner doesn't qualify — assuming that foreclosure proceedings had been started before the trial period — without telling the homeowner.
Until now, lenders haven't even had to notify borrowers in writing that they'd been rejected for permanent modifications.
In January, 11 months after Obama's plan was announced, homeowners will begin receiving written rejection notices, and the Treasury Department finally will begin receiving data on rejection rates and reasons for rejections.
The controversial clause notwithstanding, the handling of Flores' loan raises questions.
"Foreclosure actions may not be initiated or restarted until the borrower has failed the trial period and the borrower has been considered and found ineligible for other available foreclosure prevention options," said Meg Reilly, a Treasury spokeswoman. "Servicers who continue with foreclosure sales are considered non-compliant."
CMC officials declined to comment and hung up when they learned that a reporter was listening in with permission from Flores' legal team. Arvest officials also declined comment.
McClatchy did hear from Freddie Mac, the mortgage finance agency seized by the Bush administration in September 2008. Freddie owns Flores' loan, and spokesman Brad German insisted that Flores was reviewed three times for loan modification.
"In each instance, there was a lack of documentation verifying that she had the income required for a permanent modification," German said.
That response is ironic, said Michael Calhoun, the president of the Center for Responsible Lending, a nonpartisan group in Durham, N.C., that works on behalf of borrowers.
"These lenders gave loans with no documentation and charged them a penalty interest rate for doing so. And now when the people ask for help, they are using extravagant demands for documentation to give them the back of their hand and continue to foreclosure," Calhoun said.
German said that Flores was sent a letter on Nov. 24, which would have arrived several days later, given the Thanksgiving holiday, informing her that she'd been rejected for a permanent modification. Flores and her attorney said she never got a letter, and neither Freddie Mac nor CMC provided proof of that letter.
Exactly one week after the letter supposedly was sent, Flores' home was sold to Shark Investments. That company was formed on Aug. 19, according to records on the California Secretary of State's Web site. Shark Investments, apparently an unsuspecting beneficiary of Flores' woes, has no phone listing. The Riverside, Calif., address on the company's filing as a limited liability company traces to a five-bedroom, four-bath house with a swimming pool.
German didn't comment on whether Flores received sufficient notice under Freddie Mac rules, or how the home could move to sale so quickly.
Flores' legal team, which specializes in foreclosure prevention, thinks that lenders and servicers are gaming Obama's housing effort.
"It seems servicers are giving people false hopes by sending them a plan, and they are using the program as a collection method, getting people to pay them with no intention of modifying the loan," said Bosch. "I believe they are using this as a tool to suck people dry."
Dashed hopes aren't exclusive to the working poor such as Flores.
David Smith owns a beautiful home in San Clemente, Calif., the location of the Richard Nixon Presidential Library. Smith purchased his five bedroom home four years ago for $1.3 million. Today, the real estate Web site Zillow.com estimates the value of Smith's home at $981,000, slightly below the $1 million he still owes on it.
Smith said he went from "making a lot of money to making hardly any" as the national and California economies plunged into deep recession. He's a salesman serving the hard-hit residential and commercial construction sector. On top of his hardship, Smith's mortgage exceeds the limits for the HAMP plan.
In late August, Smith signed and returned paperwork in a prepaid FedEx envelope to Bank of America that said it had received the contract needed to modify the adjustable-rate mortgage he originally took out with the disgraced lender Countrywide Financial, which Bank of America bought last year.
The modification agreement shows that Bank of America agreed to give Smith a 3.375 percent mortgage rate through September 2014, and everything Smith paid between now and through 2019 would count as paying off interest. He'd begin paying principal and interest in October 2019, with the loan maturing in 2037.
The deal favors the lender, but Smith, 55, jumped on it because it kept him in the home.
Armed with what he thought was "a permanent modification," Smith returned a notarized copy of the agreement and made subsequent payments on time.
In return, he got a surprising notice from Bank of America saying that his house would be auctioned off on Dec. 18.
"It looks like they're trying to sell this out from underneath me," Smith said. "My wife cries all the time."
After a Dec. 16 call from McClatchy asking why Bank of America wasn't honoring its own modification, the lender backed off.
"The case has been returned to a workout status and a Home Retention Division associate will be contacting Mr. Smith for further discussions," said Rick Simon, a Bank of America spokesman. "The scheduled foreclosure sale will be postponed for at least 30 days to allow for review of the account in hope of completing a home retention solution for Mr. Smith."
The Center for Responsible Lending says such problems are common.
"Everyone acknowledges that the system is not working well," Calhoun said.
Monday, December 7, 2009
No One has Responded from Missouri Yet - For Class Action Suit - and NOT Get Foreclosed on
The person needs to have Foreclosure papers filed against them - The foreclosure could be Stopped!
Also people are needed from Montana, Rhode Island and Minnesota who are willing to be representatives for the suit.
Please, if you know of ANYONE in those areas who are being foreclosed on - Have them contact me!
LETS DO THIS!! WE CAN STOP FORECLOSURES TOGETHER!
Wednesday, December 2, 2009
NEED SOMEONE IN MID MISSOURI FOR CLASS ACTION LAWSUIT AGAINST MERS
UPDATE 12/03/09 10:30PM Out of 14 million homeowners in mortgage trouble, isn't there ANYONE in Missouri, Montana, Minnesota, or Rhode Island that is willing to Keep their house and be a Representative?
Please Contact me!
I need someone who is willing to be the representative in Missouri for a Class Action Lawsuit AGAINST MERS (Mortgage Electronic Registration Service)
UPDATE 12/03/09 1:15PM - PEOPLE ARE NEEDED IN THE FOLLOWING STATES TO BE REPRESENTATIVES IN THOSE STATES - WHO HAVE HAD FORECLOSURE PAPERS FILED AGAINST THEM:
RHODE ISLAND
MINNESOTA
MONTANA
Almost all mortgage servicing companies go through MERS!
Including Countrywide, Bank Of America, Wells Fargo, Litton Loan, Fannie Mae - In other words almost EVERYONE!
Judges have been ruling against them. This is what I have been working on in getting a law firm to take on a CLASS Action LAWSUIT AGAINST MERS For ALL 60 MILLION HOMEOWNERS, Before the Plague in the Ukraine has taken up my time!
There is a law firm in Nevada who is taking it on, they had one already in the works when I contacted them!
Now - they need IMMEDIATELY someone in Mid Missouri to be the representative of that state for ALL Homeowners!
The lawyer will be sending me a list of ALL the states they need people in - So you can expect another post as this one - listing what states people who have had foreclosure papers filed against them are needed!
BUT - AWESOME NEWS IS: The lawyer had asked me for someone in Mid Missouri a couple of months ago - I listed that need on my "Sherriequestioningall" Blog.
Someone contacted me - I gave them the lawyers information - Well - The attorney told me today "Thanks to you" the mortgage company - Citibank - WALKED AWAY FROM THE MORTGAGE - THE PEOPLE GOT THEIR HOUSE FREE AND CLEAR!!!!
She did not explain it completely - but I assume- when they said they were going to be the representatives for a Class action suit - Citibank - GAVE THEM THEIR HOME!!
Now the lawyers NEED SOMEONE ELSE - LIKE YESTERDAY!!
PLEASE CONTACT ME - IF YOU ARE IN MID MISSOURI - HAVE HAD FORECLOSURE PAPERS FILED AGAINST YOU -
I will give you the attorney's Name and number when you contact me - I do not want to put their information out here!
ALSO - if you are a lawyer and are interested in helping and joining in this lawsuit, please contact me! One lawyer who has out of Georgia is now helping with this.
This Class Action lawsuit is for all NON- Judicial Foreclosure States - the lawyers are trying to figure out how to help those in the Judicial Foreclosure states out.
THIS WILL NOT COST ANYONE A DIME! ALL THOSE WITH MERS MORTGAGES WILL IMMEDIATELY BE A PART OF THE CLASS ACTION SUIT!
For a list to see if your state is a non-judicial or a judicial foreclosure state - see this link:http://www.all-foreclosure.com/procedures.htm
To understand MERS and rulings against them - please see the following links.
http://indianalawblog.com/archives/2009/09/courts_in_kansa.html
http://theforeclosuredetonator.wordpress.com/2009/09/28/kansas-supreme-court-rules-in-favor-of-homeowners/
http://www.dsnews.com/articles/mers-role-as-mortgagee-challenged-in-kansas-court-ruling-2009-09-30
http://www.globalresearch.ca/index.php?context=va&aid=15324 - Kansas Supreme Court Ruling against MERS
http://www.webofdebt.com/articles/mers.php
http://www.projo.com/business/content/HO_MERS_Lawsuit_10-25-09_LOG44C1_v15.1c5d26b.html
http://www.nytimes.com/2009/10/25/business/economy/25gret.html?pagewanted=2&_r=2&partner=rss&emc=rss New York judge ruling last week against MERS - forgave whole debt!
FORECLOSURES HAVE TO STOP!! IT GETS ME SICK ALL THE PEOPLE BEING KICKED OUT ON THE STREET WITH THEIR FAMILIES AS THE BANKS ARE GETTING TRILLIONS OF DOLLARS!!!!
WHEN THE CLASS ACTION SUIT IS FILED (HOPEFULLY WITHIN THE NEXT COUPLE OF WEEKS) THEY WILL FILE AN INJUNCTION AGAINST ALL MERS FORECLOSURES UNTIL THE SUIT IS SETTLED! Hopefully the Judge will Approve the Injunction!!
MERS HAS NO STANDING TO FORECLOSE ON PEOPLE - THEN PEOPLE COULD STOP PAYING THEIR MORTGAGES!!
I WILL NOT TAKE ANYONE'S PERSONAL INFORMATION - I WILL STRICTLY GIVE YOU THE ATTORNEY'S NAME AND NUMBER FOR YOU TO CONTACT!!
Why Doesn't Kitco Have Any Silver Eagles For Sale - Why shipping Gold Eagles OUTSIDE U.S. ONLY?
One - Kitco does NOT HAVE ANY 1 OUNCE SILVER EAGLES FOR SALE!
Two - Kitco will ONLY Ship U.S. Gold Eagles OUTSIDE The U.S.!
Consider this too.
It seems the last couple of days the Comex has been settling with ANYONE who wants delivery of Gold with CASH - NOT GOLD!
There is a rumor that Comex is settling in cash with anyone who is wanting to take delivery of gold. Monday the 30th of November was the first day - anyone who had a future contract for December could request delivery. It has been said - the 2000+ future contracts who requested delivery - were INSTEAD Paid out in Cash NOT GOLD!
Are they out of Gold?
Also, please know the U.S. mint has Suspended U.S. Gold Eagle Coin Sales - as they have oversold on current orders and their inventory depleted!
The U.S. Mint said on Wednesday it will suspend sales of the popular American Eagle 1-ounce bullion coins as rising demand depleted its inventory. "The United States Mint has depleted its current inventory of 2009 American Eagle 1-ounce gold bullion coins due to the continued strong demand for this product," the Mint told its authorized dealers in a memorandum on Wednesday.
November sales to date were at 124,000 ounces, higher than the 115,500 ounces sold in each month of September and October, the Mint said.
The Mint said it expects to resume sales in early December.
More at link.
Will they start reselling them - is there gold for them to start selling them again?
What Gold and Silver - Lots is happening behind the scenes! HOPE You Got Some!
Kitco's List of Bullion for Sale - for Dec. 2 2009
Gold Eagle 1 oz
(Only shipping outside US) $1,308.20
Gold Eagle 1/10 oz $163.52
Gold Maple 1 oz
(Only shipping to US) $1,296.09
Special Gold Maple 5 X 9 pure 1 oz
(Only shipping to US) $1,356.66
Gold Buffalo 1 oz
(Only shipping outside US) $1,320.32
Gold Maple 1/4 oz
(Only shipping to US) $343.71
Gold Maple 1/10 oz
( Only shipping outside US) $162.91
Gold Maple 1/20 oz
(Only shipping outside US) $96.90
Gold Krugerrand 1 oz $1,296.09
*Gold Bar 400 oz (Please place order by phone) $486,720.00
*Gold Bar 100 oz (Please place order by phone) $121,980.00
Gold Bar 1 oz
(Only shipping outside US) $1,236.30
Gold Bar 1000 g
(Only shipping to US) $39,330.20
Gold Philharmonic 1 oz $1,265.81
Silver Philharmonic 1 oz
(Only shipping to US) $21.67
Silver Maple 1 oz
(Only shipping to US) $21.37
Silver Bar 1000 oz $19,570.00
Silver Bar 100 oz
(Only shipping to US) $2,030.00
Platinum Maple 1 oz $1,639.44
Platinum Koala 1 oz $1,639.44
Platinum Noble 1 oz $1,639.44
Platinum Eagle 1/2 oz
(Only shipping to US) $838.61
Platinum Eagle 1/4 oz
(Only shipping to US) $434.41
Platinum Bar 10 oz
(Only shipping to US) $15,470.00
Platinum Bar 1 oz $1,576.00
Palladium Maple 1 oz $435.00
Palladium Bar 1000 g $13,406.54
Tuesday, November 24, 2009
Cern Low Energy Smashed Protons - Also Very Strange Picture Above Cern In Sky During the Time!
This is a picture above Cern - it just happens that the Cern was also smashing Protons for the first time, with very low energy. This picture is not in the article. What the heck is that? Not a reflection from anything.
BBC Article:
Part of article: Please click on link to read the whole article.
Engineers operating the Large Hadron Collider (LHC) have smashed together proton beams in the machine for the very first time.
The step was described as a "great achievement" for those working on the huge physics experiment.
The low-energy collisions came after researchers circulated two beams simultaneously in the LHC's 27km-long tunnel earlier on Monday.
The LHC is smashing together beams of protons to shed light on the cosmos.
Operated by the European Organization for Nuclear Research (Cern), the LHC is the world's largest machine and will create similar conditions to those present moments after the Big Bang.
UPDATE - 12/03/09 Due to "Sage" a Reader suggesting I look up Saturn and alchemy - because of Nostradamus's quatrain about Geneva which is:
"Leave, leave Geneva every last one of you,
Saturn will be converted from gold to iron,
RAYPOZ will exterminate all who oppose him,
Before the coming the sky will show signs."
this is what I found.
Saturn: Saturn alchemy planet symbols are seen in texts as governing the metal lead, which is one of the symbols for dark prime matter. Understood as having nefarious overtones, Saturn plays an important role in more sinister alchemical processes. On the other hand, Saturn represents order, strictures, and a gravitational pull to balance and moderation. Alchemist's understood that Saturn had a very "take matters into hand" energy and utilized this essence in practice as well. More on Saturn symbolism here.
Interesting is says a symbol of Dark Matter - considering Cern will be producing Black Holes.
Saturday, November 21, 2009
LHC/Cern has Restarted Today - I was hoping this day would Never Come!
I always have in the back of my mind Nostradamus quatrain about Geneva too - will the Cern be what causes that to come true?
Article:
He said the injections lasted a fraction of a second, enough for "a half or even a complete circuit" of the Large Hadron Collider built in a 27-kilometre (17-mile) long tunnel straddling the Franco-Swiss border near Geneva.
CERN's Director General Rolf Heuer said later the scientists had successfully managed to get particle beams once again circulating in the particle accelerator, and that they had been able to go ahead earlier than expected.
"It's great to see beam circulating in the LHC again... we've still got some way to go... but with this milestone we're well on the way."
The LHC circulated its first beams on September 10, 2008, but suffered a serious malfunction nine days later.
It said a failure in an electrical connection led to serious damage, and that scientists had spent the 14-months since repairing the machine.
The LHC promises to unlock scientific mysteries about the creation of the Universe and the fundamental nature of matter.
Since September 2008, the LHC's components have been tested to an energy equivalent of five teraelectronvolts at full power.
The maximum output of what is currently the largest functioning collider in the world, at the Fermilab near Chicago in the United States, is one teraelectronvolt.
CERN had said in August that upon its relaunch, the LHC would run at 3.5 teraelectronvolts in order to allow its operators to gain experience of running the machine.
The first data should be collected a few weeks after the first particle beam was fired.
CERN said the partial power level would be kept until "a significant data sample has been gathered" and ramped up thereafter.
Designed to shed light on the origins of the universe, the LHC at CERN took nearly 20 years to complete and cost six billion Swiss francs (3.9 billion euros, 4.9 billion dollars) to build.
UPDATE 11/22/09 STORY OF CERN FROM REUTER:
Scientists at the European Organization for Nuclear Research (CERN) have established circulating particle beams in both directions in the underground Large Hadron Collider, a step that is already beyond where the experiment stalled during a first attempt in September 2008, CERN spokesman James Gillies said.
The high-profile experiment, through which tiny particles are smashed in a bid to learn more about the birth of the universe, failed just nine days after it was launched due to a technical problem that took longer than expected to fix.
"We are further advanced now than where we were after five days of experiment last year," said CERN's Director for Accelerators Steve Myers, saying the extra year had allowed researchers to upgrade instrumentations and computer software.
Myers added that researchers had increased the sensitivity of the protections at the 10 billion Swiss franc ($9.82 billion) collider under the French-Swiss border.
"If anything happens, we would not have the same amount of damage we had last year," he said.
CERN, a 55-year-old organization that counts 10,000 scientists and technicians worldwide working on its research projects, has vigorously rebuffed any suggestion the ground-breaking experiment would cause the world to end.
CERN's Director General Rolf Heuer said getting the experiment re-started had been an "herculean effort."
"We've still got some way to go before physics can begin, but with this milestone we're well on the way," he said.
If things continue to progress at this speed, scientists may be able to accelerate particles at the highest energy level ever tested before Christmas, although high-energy collisions that may shed light on the secrets of the universe would only happen in the new year, Myers said.
The experiment will be fully under way when the particle beams will be smashed at high energy levels. This will most likely happen in January.
The next important step in the experiment will be low-energy collisions, expected in about a week from now, CERN said.
The experiment can be followed on twitter.com/cern.
(Writing by Lisa Jucca, Editing by Sonya Hepinstall)
Federal Reserve To Get AUDITED! - Ron Paul's Amendment Passed!
The measure, cosponsored by Reps. Ron Paul (R-Texas) and Alan Grayson (D-Fla.), authorizes the Government Accountability Office to conduct a wide-ranging audit of the Fed's opaque deals with foreign central banks and major U.S. financial institutions. The Fed has never had a real audit in its history and little is known of what it does with the trillions of dollars at its disposal.
The amendment expressly blocks Congress from interfering with the independence of monetary policy decision-making, but opponents of the measure said that the political pressure would inevitably follow.
A desperate, last-minute attempt to thwart the move came in the form of an amendment championed by Rep. Mel Watt (D-N.C.) and described by its supporters as more reasonable. On Tuesday, however, the Huffington Post reported that, on a close reading, his amendment would in fact decrease transparency at the Fed by adding additional restrictions.
Backers of the Watt amendment pressed their case on Wednesday by sending a letter from a "political cross section of prominent economists" backing a measure like Watt's. HuffPost reported, however, that those economists might well have be prominent, but they certainly aren't a "political cross section." Seven of the eight economists in question have extensive connections to the Fed -- and half of them are currently on the Fed payroll. Those affiliations were not noted in the letter.
The playbook in Washington often goes like this: When a measure that threatens the establishment builds enough momentum that it must be dealt with, it is labeled as "unserious." The Washington Post editorial board, true to the script, called Paul's measure "an unserious answer to a serious question."
And it particularly rankles the center that a pair of "wingnuts" are behind a successful effort to challenge the prevailing order.
Step Two is for a "serious" compromise to be offered. In this case, it was Watt's amendment. But by the time the vote was called Thursday afternoon, committee members had seen through his measure, recognizing that it was not a compromise effort to bring real transparency to the Fed but an attempt to further shut the the doors.
"The Watt amendment will fully obliterate everything 1207" -- Paul's measure -- "is intended to do," said Paul during Thursday's debate.
For anyone remaining confused, the debate was further clarified by the central bank itself: Federal Reserve Vice Chair Don Cohn and General Counsel Scott Alvarez spent much of the day calling committee members, urging them to oppose the Paul-Grayson amendment in favor of Watt's, a member of Congress who asked for confidentiality told HuffPost.
Paul's opponents also placed a letter from former Fed chairmen Alan Greenspan and Paul Volcker on the seats of every committee member. Such a move is in violation of House rules and Grayson was able to have the letters removed.
As the day wore on and support held for the Paul-Grayson side, the Fed still could hope that both would pass. Watt's amendment, which included additional restriction, would then trump Paul's.
To counter that possibility, the Paul-Grayson side moved to fully replace Watt's amendment with theirs, leaving only one amendment to vote on. The motion carried and the amendment passed in a landslide.
The GOP broadly backed the amendment, though Frank chided them for finding their love of Fed transparency only after they lost power, noting that Paul has been introducing some version of the measure since 1983.
Frank said he was opposing the Paul amendment because it could be perceived as influencing monetary policy, which can have inflationary pressure. "Perception is very important in monetary policy," said Frank.
He urged a no vote, yet 15 Democrats bucked him, voting with Paul. Key to winning Democratic support was a letter posted early Thursday from labor leaders and progressive economists. The letter, organized by the liberal blog FireDogLake.com, called for a rejection of the Watt substitute and support for Paul.
Grayson was able to show Democratic colleagues that the liberal base was behind them.
"Today was Waterloo for Fed secrecy," a victorious Grayson said afterwards.
This is AWESOME!! Ron Paul - THANK YOU!!
Friday, November 20, 2009
Understand ChemTrails - From An insider
this is the first of 5 vids - I am inserting the 1st, please click on the links for the rest.
part.2/5
http://www.youtube. com/watch? v=paINdeJjo6Q& feature=related
part.3/5
http://www.youtube. com/watch? v=ncazvMiabSA& feature=related
part 4/5
http://www.youtube. com/watch? v=6CGbsQBcUCg& feature=related
part 5/5
http://www.youtube. com/watch? v=E7McsHSWZYQ& feature=related
Thursday, November 19, 2009
Chemtrail Information - From a Mechanic! Up Close Knowledge!
Note - I took all the Polish out of the article - link to original is in Polish.
His Story:
For reasons which you will understand after reading this text, I can not reveal his identity.
. I am a aircraft mechanic large airlines. I work in maintaining one of the bases located in a large airport. I think that certain information that you will find here are important. Firstly, I would say something about the "pecking order" among mechanics. This is important for the story of causes, you should guess yourself.
Mechanics want to work at 3 things: the avionics, engines, or the flight controls. Mechanics by these actions are considered essential. At the bottom of the hierarchy of classes is to work on waste disposal systems.
No engineer wants to work at the pumps, tanks and pipes, which are used to store waste from the toilets. But at every airport where I worked, always znajdywało those who are 2-3 'volunteered' to work with these systems.
The rest of the mechanics are happy by giving them a job. For this reason, one of the airport carries out this kind of thing only 2-3 mechanics. Nobody pays attention to these guys, some mechanics do not maintain contact with those who work with waste systems.
The fact is that I never thought much about this situation until the occurrence of the last month. Like most airlines we have reciprocal agreements with other airlines that use our airport. If you have a problem with his aircraft, our mechanics will take care of it.
Similarly, if one of our planes has a problem at another airport, fix it.
One day I was cited from the database to work in an aircraft of another carrier. I received a telephone call from Dispatcher, who did not know what the problem is. When the plane arrived, it turned out that the problem is the waste disposal system. There was no other choice than to crawl, and solve the problem.
When you got into the creek, I realized that something was not right. There were more tanks, pumps, pipes than it should. . Initially assumed that changed the whole system. 10 years ago I worked in exactly the same model aircraft.
To locate the problem, quickly realized that the extra tubes and tanks were not connected to the system of waste disposal in general. That's what I discovered when another mechanic came to my company. It was one of those who usually work on the aircraft type. With gratitude, I gave him his job.
I asked him when he went for additional equipment. ” He told me that I "worry about their share of the airplane, and he will worry about her!"
The next day, the computer company, saw the installation diagrams. When I was there I decided to look at patterns of additional equipment. To my surprise the installation showed no patterns that I saw with my own eyes day ago. Even in the files of the manufacturer was not anything. I was determined to find out it is made.
In the next week, we had periodic checks on three of our planes. J There are a lot of mechanics czołgających after the plane during these inspections. I have just finished his shift and decided to take a look at the waste system of one of our aircraft.
I thought that among all the engineers on board, no one will notice one further. As you might expect the plane, which had chosen an accessory!
I began to walk trail system of pipes, pumps and tanks. I found what seemed to be a control unit for the system. It looked like a standard avionics control unit, but had no signs of any kind.
I could trace the control wires from the unit for pumps and valves, but there was no electrical circuits within the unit. The only cables from the unit were connected to the main power supply plane. The system had a big tank 1 and 2 smaller tanks. . It was hard to tell in the cramped room, but it looked like a large tank that may be about 50 gallons of capacity (1 gallons UK is about 4.5 l x50 = 225l, USA (wet) is about 3.8 L = 190, note.'s Airbag). Tanks were connected to the filling and emptying valve passing through the fuselage, exactly as valve for emptying the waste.
When I had the opportunity to look at the connection plane, I found it cunningly hidden behind the panel under the panel used to access the run-off debris.
I began to follow the footsteps of tubes running from the pump. These tubes lead to a network of small rureczek, which ends at the end of the edge of the wing, horizontal stabilizers level.
. If you look carefully, on the wings of a large airplane you will see a set of wires, the size of your finger, extending from the descending side of the leaf surface. They are used to dissipate static electric charge that forms on the airplane in flight.
I discovered that this mysterious tubes of the system leads to the wicks (1 to 3 wicks). . Have been "hollowed out" in order to allow the flow of everything that was given to the release of the measure and using these fake wicks.
When I was on the wing, one of the managers spotted me. Hath me the hangar, saying that my change is over and I am not authorized to work overtime.
The next days were very busy and I did not have time to continue my investigation. Late in the afternoon, two days after my discovery, I was called to exchange the engine temperature sensor on the aircraft having take off within 2 hours. I finished work and has compiled documentation.
30 minutes later I was called to the Chief Executive. . When I walked into his office, I noticed that our union representative and two unknown to me, I have been waiting for. He told me (so-called przed.; note.'s Airbag) that was discovered a serious problem. He said that he was placed on report for making false documents.
I stayed the disciplinary finding that I made false documentation with the engine temperature sensor, which is installed a few hours earlier. I was completely surprised and began to protest. I told them that this is ridiculous, and that arrange everything.
At this point, the federal representative of the recommended inspection of the aircraft so that we can explain everything. Then he asked the two men present in the office. DN told me that this airline safety inspectors but did not give their names.
the plane, which should be in the air and was parked on the ground. . PZ opened the engine and undid his sensor with a serial number, the one installed. P I was told that I was suspended for one week without pay, and that I have to leave the place immediately.
On the first day of my suspension I was sitting at home wondering what on earth had happened. In the evening I received the phone. The voice said to me: "Now you know what happens to mechanics who are buried in what should not. The next time you start to bury the systems are not subject to you, you lose your job! Generously, I hope that you will be able to return to work soon "CLICK.
Again I had to collect from the floor. Went through my mind that what I just happened to be directly connected to my network tracking the mysterious tubes.
He said that due to my past excellent employment suspension was reduced to one day, and that I should return immediately to work. The only what I think then is "what they are trying to hide" and "who they are!"
That day at work was as if nothing had happened. None of the other mechanics did not mention the suspension and my PZ told me that I did not talk about it. That night, logged in online to try to find answers.
I do not remember how it happened but I found a mention on chemically contorted contrails.
It was a moment when everything is for me to coincide. But the next morning I found in my closet closing note. She said: "Curiosity kills the cat. Do not visit websites that do not concern you.
To jest to. This is it. Now I know that I was watching.
Although I do not know what pryskajÄ…, I can tell you how they do it. I came to the conclusion that use the "honey trucks". This truck drain waste from the tanks of toilets.
Airports typically enter into contracts for this type of work and no one is near the truck. Who wants to stand next to a truck full of shit. It seems reasonable that during the emptying of these tanks, these guys could easily fill the tanks of spray.
They know the planes flight path so it's probably a control unit programmed to begin spraying for some time after the plane reaches the proper height.
Spray nozzles in the fake knotach are so small that no one on the plane will not be able to see anything.
God help us all.
Autor: Zaniepokojony Obywatel By Concerned Citizen
Źródło oryginału: Educate-Yourself Original Source: Educate-Yourself
Źródło polskie: Truthinfo Polish Source: Truthinfo
Wednesday, November 18, 2009
One of Those DUH Articles - DUH "They Got Trillions from the Govt., they should show Record Profits"
Uh, Stop right there! They are showing all those Record Profits because it is the Trillions given to them from the Govt.!! Not because things are "Good" once more!
What absolute BullS*%@ is written sometimes.
Will people look at this article in the way I do or will they look at it in the way of "Great, things are coming up Champagne and Truffles" once again?
link:
Hong Kong Gold Shipment in Oct From U.S. - FAKE GOLD! This is the Real Take Down SHTF event when it comes out!
Seems the U.S. has sold Fake Gold and Hong Kong found their bars were fake in October, filled with Tungsten!
This article is by one of my favorite people who I follow and read his very intelligent and truth articles! Jim Willie - if you don't read his things, you really need to!
Link to article:
MSM - Watch the Video - Fact Based - Take the Red Pill !
Tuesday, November 17, 2009
China Govt and M16 Confirm The Federal Reserve has been selling FAKE Gold For a Decade?
I would think this will have to be talked about at some point by MSM, but then again - maybe not.
This article also says China is trying to buy 10000 tons of gold.
Article:
China has stealthily introduced a new financial system based on the renminbi which is well on its way to becoming fully convertible, according to a high-level Chinese source. In addition, China is purchasing 10,000 tons of gold to back up a new fund designed to develop and market heretofore forbidden and suppressed technologies. The fund will be based outside of China and will be controlled by prominent members of the Chinese overseas community. The gold purchase will take some time because of the logistics of transporting it and the Chinese wish to test it thoroughly. Both the Chinese government and MI6 now confirm reports that much of the gold sold by the Federal Reserve Board over the past decade is in fact gold plated tungsten.
For its part, the renminbi is now convertible with South American currencies, the rouble, Middle-Eastern currencies, the yen, South East Asian currencies and African currencies. “We will slowly introduce our new financial system in parallel with the old one and hope that people steadily migrate towards it,” the Chinese official says.
Meanwhile, the latest G20 meeting ended in acrimony and chaos. The leadership of the West is in total disarray and will remain so until the Federal Reserve Board’s bankruptcy becomes visible even to brainwashed section of the Western public. This is now expected by January or February. Both MI6 and a senior Chinese government source now predict the collapse of the Federal Reserve dollar by that time.
We are also hearing various reports that many Pentagon and other US alphabet suit agency figures with both US and Israeli citizenship have recently fled to Israel. Things are coming to a head.
How Real is all this? But this goes hand in hand with the previous information in an earlier post about the Fake Gold here., from another source.
the SHTF will LITERALLY Happen if all of this is True!
HAVE GOLD?
Monday, November 16, 2009
Now This Is Sickening - People Have NO CLUE!
Looks Like We Have a ONE WORLD POLICE FORCE ALREADY! When did we Give up Our Rights to That?
Forgive me, but when did the Governments of the World tell their respective Citizens that their individual Police Enforcement Rights were given AWAY?
I AM In Shock - The Media Should (but won't) say something about a ONE WORLD POLICE FORCE ALREADY IN PLACE AND WORKING!
They even have their own SPECIAL PASSPORTS - No Visas required and countries Immediately Let them IN!
article from Interpol:
INTERPOL’s Executive Committee members receive the first state-of-the-art passports.
The new INTERPOL passport sets a standard which should be implemented worldwide for travel document security, said President Khoo Boon Hui.
Secretary General Ronald K. Noble said INTERPOL’s ability to deploy quickly would be boosted by countries accepting the passport as a valid entry document.
The 78th General Assembly in Singapore brings together more than 800 senior law enforcement officials from 153 countries.
Samoa joined INTERPOL, bringing the total number of member countries to 188.
President Khoo (right) receives his INTERPOL passport from Secretary General Noble.
SINGAPORE – INTERPOL today issued its first ever passports which will enable Heads of National Central Bureaus (NCBs) and staff to travel internationally without requiring a visa when assisting in transnational investigations or urgent deployments to incidents.
Two countries, Pakistan and Ukraine, have already agreed to waive visa entry requirements for INTERPOL passport bearers, recognizing that those individuals will be travelling on behalf of the organization in the furtherance of international police co-operation.
Without the delay of visa processing procedures, any INTERPOL team can be immediately deployed to scenes of terrorist events, major crimes or natural disasters and officials from NCBs can easily cross borders to assist in fugitive extraditions.
The first member of the Executive Committee to receive the new passport, INTERPOL President Khoo Boon Hui, said that the document would significantly support the organization’s work.
“As the world’s largest police organization, INTERPOL needs to remain at the forefront of all activity which enhances member country security and safety,” said President Khoo.
“The INTERPOL passport contains state-of-the-art features that will not only facilitate the carrying out of important INTERPOL business worldwide, but will also serve as an example for the standards which should be implemented worldwide for travel document security.”
Secretary General Ronald K. Noble said that as more countries waived their visa requirements for INTERPOL passport holders, the more effective the organization’s support would become and he urged all member countries to seek the necessary governmental recognition and approval.
“When member countries ask INTERPOL for assistance to prevent, investigate, or respond to any terrorist act, serious crime or natural disaster, the safety and security of their citizens may depend on INTERPOL being in place as fast as possible,” said Secretary General Noble.
“That a person is travelling with an INTERPOL passport for official business should be all the information a country needs in order to grant them access. By agreeing to waive visas for INTERPOL passport holders, member countries will ultimately be assisting themselves,” added Mr Noble.
The presentation of the INTERPOL passport, which has been designed and developed by the EDAPS Consortium, comes during the organization’s General Assembly in Singapore attended by more than 800 senior law enforcement officials from 153 countries.
Key issues to be discussed during the five-day meeting are the provision of enhanced operational support, particularly in relation to the expansion and increased use of INTERPOL’s DNA and fingerprint databases by frontline officers in member countries to help solve crimes and identify fugitives through data comparison; encouraging member countries to use tools to block access to online child abuse images; and establishing an information exchange platform for national anti-corruption bodies and the creation of a strategic anti-corruption information database.
The global reach of the world’s largest police organization was further extended following the acceptance of Samoa as INTERPOL’s newest member country, bringing the total number to 188 countries.
UH OH - How MUCH Fake Gold is Out There? This Could Be Huge - Imagine Prices, when Dust settles!
Article:
http://www.financialsense.com/fsu/editorials/kirby/2009/1112.html
From Article:
I’ve already reported on irregular physical gold settlements which occurred in London, England back in the first week of October, 2009. Specifically, these settlements involved the intermediation of at least one Central Bank [The Bank of England] to resolve allocated settlements on behalf of J.P. Morgan and Deutsche Bank – who DID NOT have the gold bullion that they had sold short and were contracted to deliver. At the same time I reported on two other unusual occurrences:
1] - irregularities in the publication of the gold ETF - GLD’s bar list from Sept. 25 – Oct.14 where the length of the bar list went from 1,381 pages to under 200 pages and then back up to 800 or so pages.
2] - reports of 400 oz. “good delivery” bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong.
Why Tungsten?
If anyone were contemplating creating “fake” gold bars, tungsten [at roughly $10 per pound] would be the metal of choice since it has the exact same density as gold making a fake bar salted with tungsten indistinguishable from a solid gold bar by simply weighing it.
Unfortunately, there are now more sordid details to report.
When the news of tungsten “salted” gold bars in Hong Kong first surfaced, many people
who I am acquainted with automatically assumed that these bars were manufactured in
China – because China is generally viewed as “the knock-off capital of the world”.
Here’s what I now understand really happened:
The amount of “salted tungsten” gold bars in question was allegedly between 5,600 and 5,700 – 400 oz – good delivery bars [roughly 60 metric tonnes].
This was apparently all highly orchestrated by an extremely well financed criminal operation.
Within mere hours of this scam being identified – Chinese officials had many of the perpetrators in custody.
And here’s what the Chinese allegedly uncovered:
Roughly 15 years ago – during the Clinton Administration [think Robert Rubin, Sir Alan Greenspan and Lawrence Summers] – between 1.3 and 1.5 million 400 oz tungsten blanks were allegedly manufactured by a very high-end, sophisticated refiner in the USA [more than 16 Thousand metric tonnes]. Subsequently, 640,000 of these tungsten blanks received their gold plating and WERE shipped to Ft. Knox and remain there to this day. I know folks who have copies of the original shipping docs with dates and exact weights of “tungsten” bars shipped to Ft. Knox.
The balance of this 1.3 million – 1.5 million 400 oz tungsten cache was also plated and then allegedly “sold” into the international market.
Apparently, the global market is literally “stuffed full of 400 oz salted bars”.
Makes one wonder if the Indians were smart enough to assay their 200 tonne haul from the IMF?
A Slow Motion Train Wreck, Years in the Making
An obscure news item originally published in the N.Y. Post [written by Jennifer Anderson] in late Jan. 04 has always ‘stuck in my craw’:
DA investigating NYMEX executive - Manhattan, New York, district attorney's office, Stuart Smith - Melting Pot - Brief Article – Feb. 2, 2004
A top executive at the New York Mercantile Exchange is being investigated by the Manhattan district attorney. Sources close to the exchange said that Stuart Smith, senior vice president of operations at the exchange, was served with a search warrant by the district attorney's office last week. Details of the investigation have not been disclosed, but a NYMEX spokeswoman said it was unrelated to any of the exchange's markets. She declined to comment further other than to say that charges had not been brought. A spokeswoman for the Manhattan district attorney's office also declined comment.
The offices of the Senior Vice President of Operations - NYMEX – is exactly where you would go to find the records [serial number and smelter of origin] for EVERY GOLD BAR ever PHYSICALLY settled on the exchange. They are required to keep these records. These precise records would show the lineage of all the physical gold settled on the exchange and hence "prove" that the amount of gold in question could not have possibly come from the U.S. mining operations – because the amounts in question coming from U.S. smelters would undoubtedly be vastly bigger than domestic mine production.
We never have found out what happened to poor ole Stuart Smith – after his offices were "raided" – he took administrative leave from the NYMEX and he has never been heard from since. Amazingly [or perhaps not], there never was any follow up on in the media on the original story as well as ZERO developments ever stemming from D.A. Morgenthau’s office who executed the search warrant.
Are we to believe that NYMEX offices were raided, the Sr. V.P. of operations then takes leave - all for nothing?
These revelations should provide a “new filter” through which Rothschild exiting the gold market back in 2004 begins to make a little more sense:
“LONDON, April 14, 2004 (Reuters) - NM Rothschild & Sons Ltd., the London-based unit of investment bank Rothschild [ROT.UL], will withdraw from trading commodities, including gold, in London as it reviews its operations, it said on Wednesday.”
Interestingly, GATA’s Bill Murphy speculated about this back in 2004;
“Why is Rothschild leaving the gold business at this time my colleagues and I conjectured today? Just a guess on my part, but suspect:”
*SOMETHING IS AMISS. THEY KNOW A BIG GOLD SCANDAL IS COMING AND THEY WANT NO PART OF IT. …”
“ROTHSCHILD WANTS OUT BEFORE THE PROVERBIAL "S" HITS THE FAN.” BILL MURPHY, LEMETROPOLE, 4-18-2004
FOR MORE OF THE ARTICLE PLEASE SEE THE LINK!
Okay - FAKE GOLD - all over the world!! Prices would plummet in the beginning of this getting fully out to the public - in my opinion! Because of the worry of what is real or not?! BUT once the Dust settles IMAGINE - What PRICES WILL BE!! The realization there is NOT AS MUCH GOLD AS THOUGHT IN THE WORLD - Will make prices go Through the Roof!!
*** Oh Yeah - Side NOTE*** YEP - This was ALSO predicted by the Web bot - last year - Fake Gold, Big problem - drop in price - BUT then sky rocket!!! I will remind everyone - the webbot prediction for precious metals is: GOLD - Buy Property type things with - SILVER - $600 to $800 per ounce! This is for Mid Next Year! (Oh, right, we are only 2 months away from starting 2010) GOT METALS?
Sunday, November 15, 2009
One of the MOST OUTRAGEOUS Big Brother Ideas Ever Planned!
Article:
The Dutch government said Friday it wants to introduce a "green" road tax by the kilometre from 2012 aimed at cutting carbon dioxide emissions by 10 percent and halving congestion.
"Each vehicle will be equipped with a GPS device that tracks how many kilometres are driven and when and where. This data will be then be sent to a collection agency that will send out the bill," the transport ministry said in a statement.
Ownership and sales taxes, about a quarter of the cost of a new car, will be scrapped and replaced by the "price per kilometre" system aimed at cutting the Netherlands' carbon dioxide emissions by 10 percent.
"Traffic jams will be halved and it helps the environment," the ministry said.
Dutch motorists driving a standard family saloon will be charged 3 euro cents per kilometre (seven US cents per mile) in 2012. That would increase to 6.7 cents (16 US cents per mile) in 2018, according to the proposed law.
Every vehicle type will have a base rate, which depends on its size, weight and carbon dioxide emissions.
Taxis, vehicles for the disabled, buses, motorcycles and classic cars will all be exempt.
"An alternative payment will be introduced for foreign vehicles," the ministry statement added.
The Dutch cabinet approved the road tax bill on Friday. It will need the backing of parliament before it becomes law.
This is literally OUTRAGEOUS!! 7 cents a mile tax? Will it be in all countries at some point? A great way for them to get more money from the people?
I HOPE You HAVE SILVER! If This is True -
http://www.gata.org/node/8025
Saturday, November 14, 2009
Sunny No Clouds Fore Cast Today - Is Now Gone 11/14/09
Friday, November 13, 2009
My thoughts on the Vaccine and Propaganda going on with it.
The 2 videos, were one video in the beginning. Somehow after uploading it on youtube it got edited (not by me) and what I am putting in as the 2nd part was cut out of the original. It has taken 2 days to get these set up on youtube, but Finally they are on!
Oh, good news, audio and video are in sync.
I hope people understand the psychological angle being waged - so everyone will take a Swine Flu Vaccine. (that portion is in the 2nd video) I feel it is important to have people understand, what they are hearing is not the full truth regarding the Swine Flu Vaccine and in my opinion, under no terms should they get the Swine Flu Vaccine.
Wednesday, November 11, 2009
An Article - That Will Propel Gold Way Up "World Gold Supply Runs Out"
This article out today - In My Opinion - will propel Gold Upward Big Time!
Article:
Aaron Regent, president of the Canadian gold giant, said that global output has been falling by roughly 1m ounces a year since the start of the decade. Total mine supply has dropped by 10pc as ore quality erodes, implying that the roaring bull market of the last eight years may have further to run.
"There is a strong case to be made that we are already at 'peak gold'," he told The Daily Telegraph at the RBC's annual gold conference in London.
"Production peaked around 2000 and it has been in decline ever since, and we forecast that decline to continue. It is increasingly difficult to find ore," he said.
Ore grades have fallen from around 12 grams per tonne in 1950 to nearer 3 grams in the US, Canada, and Australia. South Africa's output has halved since peaking in 1970.
The supply crunch has helped push gold to an all-time high, reaching $1,118 an ounce at one stage yesterday. The key driver over recent days has been the move by India's central bank to soak up half of the gold being sold by the International Monetary Fund. It is the latest sign that the rising powers of Asia and the commodity bloc are growing wary of Western paper money and debt.
China has quietly doubled holdings to 1,054 tonnes and is thought to be adding gradually on price dips, creating a market floor. Gold remains a tiny fraction of its $2.3 trillion in foreign reserves.
Gold exchange-traded funds (ETFs) – dubbed the "People's Central Bank" – have accumulated 1,778 tonnes, making them the fifth biggest holder after the US, Germany, France, and Italy.
Ross Norman, director of theBullionDesk.com, said exploration budgets had tripled since the start of the decade with stubbornly disappointing results so far.
Output fell a further 14pc in South Africa last year as companies were forced to dig ever deeper - at greater cost - to replace depleted reserves, not helped by "social uplift" rules and power cuts. Harmony Gold said yesterday that it may close two more mines over coming months due to poor ore grades.
Mr Norman said the "false mine of central banks" had been the only new source of gold supply this decade as they auction off reserves, but they are switching sides to become net buyers.
Barrick is moving fast to wind down the remaining 3m ounces of its infamous hedge book over the next twelve months, an implicit bet on rising gold prices over time.
Mr Regent said the company had waited too long to ditch the policy, which has made the company enemy number one among 'gold bug' enthusiasts. The hedges oblige Barrick to deliver part of its gold into futures contracts set long ago at levels far below today's spot prices.
The strategy worked well in the falling market of the 1990s, but has cost the company dear in lost profits this decade. "Hindsight is always 20/20," said Mr Regent, who was appointed from the outside earlier this year.
Barrick bit the bullet in the third quarter, taking a $5.7bn charge against earnings on hedge contracts. Liberation is at last in sight. In 2001 the hedge book topped 20m ounces.
Mr Regent said the hedge policy has weighed badly on the share price and irked investors, becoming a bone of contention at every meeting. The financial crisis brought matters to a head as markets fretted about counterparty risk. "It was clear to me that there were a significant number of institutions who wouldn't invest in Barrick because of the hedge book," he said.
Barrick produced 1.9m ounces of gold last quarter, down from 1.95m a year earlier. Costs have been "trending down" to $456 an ounce, though rising energy prices pose a fresh threat. Total reserves are 139m ounces, far ahead of rival Newmont Mining at 86m.
The hedge book venture has not been a happy one, but those who predicted that Barrick would eventually "blow up" on its contracts may owe the company an apology.