“Is This a Scam?”

Hello again and I hope you’re ready for your weekly expose of ‘The Big Lie’ that the day-to-day banality distracts you from. This week’s newsletter comes with a disclaimer and a reminder about where my politics lie (long-time readers know this already):

I am neither Republican nor Democrat. All politicians are essentially, scumbags. If you must insist on labeling me, call me a Constitutionalists; I believe in the original Constitution and what it stood for: Life, Liberty, and Freedom. Politicians are the antithesis of these values, regardless of their rhetoric. There is a difference between government and country; you can love your country and still dislike your government- that’s how America was born.

So now that’s out of the way we can begin…

The American people recently spoke loud and clear voting in the home of The Boston Tea Party:

“We don’t want your Federalist, Socialist BS. Get your stinking tentacles out of our lives. Stop mortgaging the future of our kids and grandkids. Bring back the British- they taxed us less. We’re fed up with your double standards. WE DO NOT TRUST YOU.”

Nobody believes anything anymore. In a recent issue I gave you the case for global warming theory being voodoo science spun out by charlatan fundamentalists serving their own agendas, and now we learn of the glacier meltdown projection being bogus.

Who can you trust? Is life itself a scam?

As you know, as well as providing you with our newsletters each week, we also offer you wealth-building products that have been League of Power approved. Sitting in on our customer ordering line can be entertaining. Here’s a typical question we hear:

“Is this a scam?!”

Of course, if you’ve sampled any of our product you’ll know we aren’t a scam, but I have to wonder what kind of response the person who asks this expects. Perhaps this:

“Yes we’re a scam. Oh darn, you’ve caught us out. We will be closing tomorrow.”

What’s also amusing is that there are very real scams going on right before peoples’ eyes on a far greater magnitude and with very real malice that they ignore.

So this week’s newsletter is dedicated to those customers who call in asking if League of Power (a FREE newsletter) is a scam and have given us such endless entertainment over the years…

The Treasury Secretary, Tim Geithner, is a tax-cheat. Fact. More recently, he had a subpoena issued against his previous office, the NY Fed, seeking records or notes, emails, phone calls and correspondence for the time he was NY Fed Chairman.

Why? Because the NY Fed was laundering money to his banking cronies through the collapsing AIG. Through this arrangement, Goldman Sachs and Morgan Stanley were paid in full with taxpayer money to cover their losses from the meltdown. The subpoena also demands correspondence about the Fed’s refusal to name all of the banks that received payments from AIG. NY Fed officials have said releasing the names would undermine market confidence.

That’s a scam.

I spoke about the Federal Reserve last week- please take a read of that.

That’s a scam.

The next scam is one that could make you a lot of money if you act. I think the world is currently being scammed by China…

Bigger picture, long term, I’m bullish on China. It’s hard not to be on a country that has fiscal discipline and $2 trillion in reserves from a trade surplus (we’re so used to hearing ‘trade deficit’ that saying ‘surplus’ almost sounds awkward). It’s this view that is confusing some traders when presented with a bearish case.

Shorter term though, I think the bullish case has been overdone and we could see a reversal. Buying the ETF: FXP (ultra short China) currently at around $9 with a 12 month high of $183 could prove a profitable move and hedge you against a rocky 2010 with extremely limited downside at this price.

If there’s a good thing about a dictatorship like China, it’s that things get done. Providing the dictator has the country’s best interests at heart, this is a good thing as there’s no watering down of actions and endless delays as opposing parties have a bun-fight just for shits and giggles.

The bad thing is that because there’s no freedom of information act, you can’t really trust government statistics. Here in the US, I can pull apart the government lies all day long (and long-time readers know that I do with alarming regularity), but with China’s data you have to do a spot of detective work.

Let’s look at the contradictions that emerge when we dig deeper about China’s miraculous recovery that many argue saved the world in 2009…

The Chinese say: The economy expanded 8.9% in 2009. Factories are producing more and consumers are consuming more.

The contradiction: Electricity consumption has plummeted.

The Chinese say: Car sales have almost doubled.

The contradiction: Gasoline consumption has been falling.

The Chinese say: TV sales have gone up 15%

The contradiction: Financial journalists have reported government warehouses stockpiling electronics.

The Chinese say: More commercial properties have sprung up everywhere.

The contradiction: Yes, but they’re empty.

That’s a scam.

And you can profit handsomely from it.

So something fishy is going on and it sounds a lot like government money being thrown at the recovery, much like in the US and elsewhere. And now we hear that the Chinese are applying the brakes to all this stimulus (the US Fed is doing the same at the end of March but we’ll talk about that another time). As I touched on in the 2010 prediction, politicians everywhere are patting themselves on the back and proclaiming themselves the saviors of the planet. As a result, they are now taking steps to ease back on their stimuli.

If politicians were half as clever as they think, the world would be a safer place. Sadly though, they are the biggest scammers of all, and you’re the patsy. Please rally round all your friends and family now and call the White House with the following question: “Is this a scam…?”

Until next time,

Kevin Raymond


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