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America’s New Direction – Thanksgiving Special

Detective Krum

Detective Krum

I decided to post something refreshing – a look at America’s direction through time.  The John Birch Society has developed a short video that describes America’s direction.  What makes this video unique is the way history is recorded and how you see America.

Is America turning to Socialism?  Are we really a Democracy? Why is our nation a Republic? Why do elected Congressmen/women identify America as a Democracy? This short video clearly reveals who we are and where we are headed. The John Birch Society’s effort, in this short video, is admirable. Please share this video with your family and friends and feel free to download the video and send it to every elected representative. One thing I enjoyed hearing from an elected official is Governor elect Bob McDonnell said, “Eight months ago I applied for a job, Governor of Virginia, and you hired me. I will not forget I work for you.”  He is a rare individual – he understands who his employer is – We The People.


Video link is here.

Thank you to all our readers and those linking to this blog. I want to take this time to wish all of you and your family, a very Happy Thanksgiving. May we all reflect on God Almighty’s mercy, grace and truth towards mankind as a whole and may we thank our Great Creator for all his blessings bestowed upon us and our country. As George Washington, let us get on our knees and give thanks and ask for mercy and victory. Happy Thanksgiving.



November 25, 2009 Posted by | 1 | , , , | Leave a comment

FDIC in Real Estate Business

Detective Krum

It appears the Federal Deposit Insurance Corporation (FDIC) is in not only selling securities but, the real estate market as well.  Here is a partial list of properties “FDIC” is selling:

715 Stephens  Saginaw, Michigan  A two unit converted house for

$ 7,500 or best offer

5516 Oldtown  Detroit, Michigan A single family residence 3 bedroom 1 bath and 1250 square feet for $ 8,500 or best offer

To see more properties and get particulars on the properties listed here go to FDIC property information here.

The question is, who regulates FDIC in securities trading and in real estate sales? What law provides FDIC the ability to engage in securities and property selling?


November 25, 2009 Posted by | 1 | , , | Leave a comment

Commerce Bank of Southwest Florida Fails

Detective Krum

Commerce Bank of Southwest Florida failed and on Friday, November 20, 2009 Commerce Bank of Southwest Florida, Fort Myers, FL was closed by the Florida Office of Financial Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.  No advance notice is given to the public when a financial institution is closed. One must ask, why?  If you are a depositor in a bank and your deposit exceeds the FDIC insured amount, why is there no advanced notice of a failing bank?  Is it because you could withdraw your funds and protect your assets?

The official notice states:

All deposit accounts, excluding certain brokered deposits, have been transferred to Central Bank, Stillwater, MN (“assuming institution”) and will be available immediately.  On Monday, November 23, 2009, the former Commerce Bank of Southwest Florida location will reopen as a branch of Central Bank.

Your transferred deposits will be separately insured from any accounts you may already have at Central Bank for six months after the failure of Commerce Bank of Southwest Florida. Checks that were drawn on Commerce Bank of Southwest Florida that did not clear before the institution closed will be honored as long as there are sufficient funds in the account.  For more information on deposit insurance, you may speak to an FDIC representative by calling 1-800-913-5370 or visit EDIE, the FDIC’s Electronic Deposit Insurance Estimator.

The Automated Teller Machines (ATM) and online service will remain available.

As of Monday, November 23, 2009, you may continue to use the services to which you previously had access, such as safe deposit boxes, night deposit boxes, wire services, etc.

Your checks will be processed as usual.  All outstanding checks will be paid against your available balance(s) as if no change had occurred.  Your new bank will contact you soon regarding any changes in the terms of your account.  If you have a problem with a merchant refusing to accept your check, please contact your branch office.  An account representative will clear up any confusion about the validity of your checks.

All interest accrued through Friday, November 20, 2009, will be paid at your same rate.  Central Bank will be reviewing rates.  You will be notified of any changes.

Your automatic direct deposit(s) and/or automatic withdrawal(s) will be transferred automatically to your new bank.  If you have any questions or special requests, you may contact a representative of your assuming institution at your branch office.

If you or your company provided a service or product, leased space, furniture, or equipment to Commerce Bank of Southwest Florida prior to Friday, November 20, 2009 and have not been paid, you may be entitled to a claim against the bank. If you provided a product to or a service for Commerce Bank of Southwest Florida prior to the bank’s failure for which you have not been paid and you have not received communication, please contact:

Federal Deposit Insurance Corporation
Receiver: Commerce Bank of Southwest Florida
7777 Baymeadows Way West
Jacksonville, FL 32256
Attention: Claims Agent

Please note: There are time limits for filing a claim, your claim must be filed on or before 2/25/2010.

See FDIC’s website here –  for more information.

November 24, 2009 Posted by | 1 | , , , | Leave a comment

Goldman Sachs is a conspiracy with the government?

Detective Krum

In plain English, a derivative in real estate means a value on real estate property that was decided upon various factors.  When the banks have a percentage of their portfolio in derivatives it means the banks have loans on real estate where the loan value is based upon various factors.  What are the various factors? Tranches are one example. A Tranche is a package of loans. The bottom line? Loans were made on real property not based on fair market appraisals but on how many loans are put into a package of loans (tranches) and a speculation of what the property value should or could be (derivative).  So why am I writing about this?

I read a very good article on World Net Daily. An interesting point I want to mention is quoted.

“According to the latest numbers from the Treasury Department, JPMorgan and Goldman Sachs are holding the bag on 60 percent of the world’s derivatives – an astonishing $120 trillion between them, Still reports.

But instead of being held responsible for the collapse of the world economy, they were rewarded during the debacle by being allowed to absorb their primary competitors.”

“JPMorgan was the biggest winner in the government bailouts, after receiving a $25 billion loan, it gobbled up Bear Stearns‘ assets for about two cents on the dollar and then the assets of Washington Mutual – the nation’s largest failed bank – for less than a penny on the dollar. Goldman Sachs received approximately $50 billion, but both firms have now repaid the government.”

“According to Treasury figures at the end of June, Morgan held a staggering $80 trillion in derivative exposure, 50 times more than its $1.6 trillion in assets. Goldman Sachs is in an even more precarious condition. It holds $40 trillion in derivatives backed by assets of only $120 billion – a leverage of 333-to-1.

“To put this into perspective,” said Still, “The Gross Domestic Product of the United States is a mere $14 trillion. Even the world GDP is only $65 trillion, and the best estimate of the worth of everything in the world is only $200 trillion. That’s how big these numbers are.”

“Mega-investor Wayne Rogers is certainly not shy about identifying the problem. On “Cashing In” on the Fox News Channel Saturday, he put it this way: “Goldman Sachs is a conspiracy with the government. They are a fascist organization. They are supplying the guy who is the secretary of the Treasury, then he goes back to Goldman Sachs. Meantime he owns 800,000 shares of Goldman Sachs and Goldman Sachs gets bailed out by the government. The whole thing is outrageous. Let them go down.”

Read the rest of the article from World Net Daily here and there is a short four minute video you might find interesting.





November 18, 2009 Posted by | 1 | , , , , , , | Leave a comment

Make Poor Business Decision? Get a Bailout

Detective Krum

Detective Krum

I read a question regarding the bank bailouts and thought it appropriate to use this opportunity as a teaching experience. The question is, “If the bank bailouts did not go through, who would have taken on the bad debt?”

When banks make loans to business (say auto dealers – they pay floor plan charges on each auto on their lot) If the car company went bankrupt, the bank would get pennies on the dollar in bankruptcy court. Same with banks making bad mortgage loans:
1. The bank knew better & did it anyway
2. The bank forecloses on the loan and if the homeowner filed bankruptcy, the bank gets pennies on the dollar
3. If the banks had too many bad loans, it shows the bank has poor business experience and they would file bankruptcy. Those they sold those “toxic” assets to would get pennies on the dollar.

Would you buy anything “toxic”? What does that say about your intelligence verses the bank’s intelligence?

November 16, 2009 Posted by | 1 | , , | Leave a comment

S and T Bank May Be In Trouble

Detective Krum

Detective Krum

S & T Bank, based in Indiana, Pennsylvania has been downgraded by analysts and recommended a sell according to Bloomberg. S & T Bank rating is a ( D+ ) but it appears analysts see the need to sell and watch this blog to see if the bank indeed, fails.  Consider SunTrust Bank, their rating is a ( D- ) considering SunTrust Bank received about $2.2 billion.Ten major bank holding companies received bank bailouts

Among the 10 bank holding companies, Bank of America Corp. was judged in May to need $33.9 billion in additional capital under regulators’ criteria, the largest gap. Wells Fargo & Co.’s shortfall was $13.7 billion, while Citigroup Inc.’s was $5.5 billion. The Fed told banks in May to shore up reserve capital by early this month. The Federal Reserve Bank index is here.

Fifth Third Bancorp’s capital need was $1.1 billion, KeyCorp’s was $1.8 billion, PNC Financial Services Group Inc.’s was $600 million, Regions Financial Corp.’s was $2.5 billion and SunTrust Banks Inc.’s was $2.2 billion. GMAC LLC needed $11.5 billion, while Morgan Stanley’s assessment was $1.8 billion.

The bank holding companies appeared to tighten lending policies instead of lending more to help stop foreclosures. In addition, bank holding companies upped interest rates to consumers while the bank was getting the money near zero percent interest from the fed and the banks cut credit limits.  The banks claim they have paid back the bailout money. How have banks paid back taxpayers? Banks claim they have dropped their interest rates and loosened credit. Have you looked at your credit card changes? Higher interest rates and cut limits don’t show the banks claims.

What can you do to voice your displeasure with bank mismanagement? Let’s learn from the auto bailout. Customers stopped buying GM and Chrysler and Ford was rewarded for not taking bailout money with increased sales.  Looking for a bank that did not participate in the bank bailouts is an avenue many are taking.

November 11, 2009 Posted by | 1 | , , , , | Leave a comment

Why Bank Bailouts Cannot Work

Detective Krum

Detective Krum

Many readers asked why the bank bailouts do not work, simple, they can’t. The bank bailouts or TARP was put into motion, as Congress said, to stimulate lending by banks to customers.  When President Bush started the bank bailouts and President Obama continued and expanded them to include auto companies, AIG, and now trying to take over health care shows elected officials out of control while we have taxation without representation.  When Congress is cowardly to stand up for freedom and our Constitution we see the need for Americans to downsize a bloated centralized power structure that does as they please.

The reason the bank bailouts cannot work is simple. Let’s suppose you are a bank and a customer comes to you for a loan, you have risk in lending to the person or company. As a bank, you notice the federal reserve is keeping interest rates near zero. Would you rather lend with risk to a customer or business or borrow money from the federal reserve (central bank) at zero percent interest and invest your loan hedging the stock market where you can make millions for yourself and others?  Banks have chosen the latter – don’t loan too much but use the TARP money to drive up the stock market as you (bank)  make a fortune. How do the banks look at customers then? As you can see, they cut credit limits on credit cards and up their interest into the 20% interest plus range.  Is that fair and the right thing to do?

Banks will say they have paid the TARP funds back – where’s my dividend check? Where did the banks get the money to pay the TARP funds back? From new lending? Or investing taxpayer dollars into the stock market creating another bubble. If you think this sounds off – then you will enjoy the new book The Dollar Meltdown. Charles explains in plain English what is going on and in an interview, Charles thinks it is too late to stop the downward spiral but shows you how to prepare to protect your assets and family.

Four things you’ll learn from The Dollar Meltdown:


You’ll get the whole story on America’s debt, both visible and hidden. You’ll learn how bailout bills and stimulus spending have dug us in an even deeper hole and what it means for the future.


You’ll learn to see old familiar patterns in some of the newest economic developments. This will help you judge the future by the past. The Dollar Meltdown lays out the real fundamentals about money and shows you exactly how the monetary system in the United States today has been corrupted so that you can avoid being victimized by it.


You’ll discover how the dollar meltdown happens, the most likely scenarios, and the role of foreign creditors like China. You’ll be prepared as the authorities react to economic problems of their own making, lurching from one “solution” to the next, deepening the crisis with their every move.  The dollar meltdown will change America and you’ll want to be ready for it when it comes.


There is opportunity in every crisis and there are ways protect yourself and your family and to profit in the turbulent times ahead.

You see why the old rules don’t work anymore and you’ll get easy-to-understand investment advice for the new rules, specific investment recommendations that you can put to use right away to protect yourself and your family from the dollar meltdown.

Don’t wait until it’s too late! Order your copy of THE DOLLAR MELTDOWN HERE – Do it TODAY!

About Charles Goyette

Charles Goyette has long been known in Phoenix as “America’s Most Independent Talk Show Host!” With years of hands-on experience as an investment professional, he brings a welcome dimension of foresight and clarity to his political and economic commentary.  Goyette has been called on often to share his views with television audiences nationally on CNN, Fox News, MSNBC, and PBS, including on “The O’Reilly Factor,” the popular PBS program “NOW with Bill Moyers,” and as a frequent guest on “Lou Dobbs Tonight” on CNN, repeatedly warning before the current economic turmoil of the “economic calamity the Republicans and Democrats” were creating.




November 10, 2009 Posted by | 1 | , , , , | Leave a comment