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Thursday, February 28, 2013
American Militia invite to the event 'III Congress'
The Death of Small Banks in the US
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The Death of Small Banks in the US
By Chris Mayer |
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The US government is going to kill the
small banking industry in the US. The irony is hard to miss. It was not the
small banks that threatened the financial system in the crisis of 2008. Yet
they will bear the brunt of the regulatory costs imposed in its wake. The end
result will be that US banking assets will collect into the hands of even
larger banks.
It is a shame. Yet the death of the lamb is the life of the wolf, as an old saying has it. In other words, it is not all bad for everybody, as I?ll explain below. First, let me begin with a piece of anecdotal evidence from the departing CEO of Third Street Bancshares, based in Marietta, Ohio. His name is James Meagle Jr., and he had been in banking for 40 years. A CEO leaves some company somewhere every day. That, in itself, is not news. But few CEOs depart by saying that the company he?s leaving might not survive. Citing tremendous changes in regulatory costs and compliance issues, Meagle said he ?didn?t have the patience anymore.? His old bank will have to spend about $100,000 to meet new demands from regulators. For a little bank with one branch, $100,000 is a lot of money. I bet it is a big chunk of the money it makes in a year. Third Street is privately held, so we can?t know for sure. ?I don?t know how we?re going to be able to make it,? Meagle tells SNL Financial. ?We can [survive], but we?re just spending so much time and energy complying with these new regulations.? ?Absolutely ludicrous,? is how he described the regulators? level of scrutiny. What?s this bank to do? Merge. ?We?ve been able to hold our earnings up and we?re still well capitalized,? Meagle continues ?but what I see coming in the future is not pretty. We really do not want to sell, but we may have no other options.? It?s a story I?ve heard often from banking industry executives, as well as from professional investors in the banking sector. The small banks will have to sell out to larger banks, which can spread out those costs over a larger asset base. Some more color to the backdrop may help you focus in here. Let us consider the US banking system. What does it look like? Well, the top 20 banks hold nearly 80% of the industry?s assets today. Take a look at the nearby chart.
The question naturally arises: How big do you have to be to earn an attractive return as a banking franchise in the US of A? It?s an unsettled question, even among industry insiders. What?s nearly certain is that the 2,490 banks on the bottom are toast. Those are the Third Street Bancshares of the world. Way too small to even make a go of it, like a 9-year-old trying to block linebacker Ray Lewis. The next level up will probably have to sellout as well. These are the 4,000-plus banks with assets up to $1 billion. In fact, regulatory costs, as well as banks? net profit margins (from low interest rates), put pressure on the next block up to consolidate. Now here is the opportunity ? and more irony.
For good banks, buyouts occur at premiums to book value. Yet many healthy small banks trade below book value. In fact, in a recent issue of Mayer?s Special Situations, I urged my subscribers to invest in three specific small banks. Each of them trades below book value. Each of them has plenty of capital. And my bet is that at least one of them ? and maybe all of them ? gets bought out at a premium to book value in the next five years. I expect we?ll see many of the smaller banks combining over the next several years, like droplets of water forming with other droplets of water to make bigger and bigger drops of waters. As investors, you gain by owning the undervalued, small banks. But you can also play the acquirers. Here, you want to own the healthy predators, such as Republic Bancorp (NASDAQ:RBCAA), which has picked up a couple of failed banks in the last couple of years. It is a consolidator of banks and will grow as a result of the acquisitions. Investors benefit from consolidation because larger banks get a better multiple. Some months ago, I spoke with John Palmer at PL Capital, an outstanding investor in bank stocks. As John explained, ?The larger the bank, the better they tend to trade off of book value.? Typically, a $3 billion bank will have a higher trading multiple than a $1 billion bank. And a $1 billion bank will have a higher trading multiple than a $500 million bank. So by moving up the food chain, a bank can actually increase its trading value based on asset size. ?That?s why these companies are looking to buy other banks and get bigger,? John said. ?If they can move from $1.5 billion to $3 billion and get some cost savings out of it, they are going to get a higher trading value. If they can go from $3 billion to $5 billion, they are going to get a higher trading value again.? The unfortunate part is that the industry consolidation underway will mean the death of the small community bank. The consequence of all those new rules and regulations is that the US banking system will become even more top-heavy. Banks will get even bigger. Banking assets will concentrate in fewer hands. And while I expect there will be lots of foot-dragging and resistance from entrenched boards and management teams, I think the deals will get done. There is too much money at stake. The eventual death of small banks ought to mean good returns over the next few years as these dynamics play out. For investors in bank stocks, the irony is profitable. Regards, Chris Mayer |
Cabela's refused to hide Obama's Tax
Cabela's
refused to hide it
WELL TAX
--TAX AND MORE OF OBAMA TAX
AS
I SEE IT WE THE PEOPLE HAVE HAD ENOUGH OF THIS....
The
2.3% Medical Excise Tax that began on January 1st is supposed to be “hidden”
from the consumer, but it's been brought to the public’s attention by
hunting and fishing store Cabela’s who have refused to hide it and are showing
it as a separate line item tax on their receipts.
Anyone still believe Obama didn't raise taxes on the middle
class???
The
2.3% Medical Excise Tax that began on January 1st is supposed to be “hidden”
from the consumer, but it's been brought to the public’s attention by
hunting and fishing store Cabela’s who have refused to hide it and are showing
it as a separate line item tax on their receipts.
Militia news! Say NO to any Gun control.
Subject: Noon Thursday,
Militia news! Say NO to any Gun control.
To
control which emails you receive on WELL REGULATED AMERICAN MILITIAS !, click
here
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Warning from Shell Oil Co. Do not Delete, Important Inf
Please read, this could save your life..................
"Treasure
today--Tomorrow might be too late"
WARNING FROM SHELL OIL
COMPANY DO
NOT DELETE, PLEASE READ
Please send this
information to ALL your family & friends, especially those who have kids in
the car with them while pumping gas. If this were to happen, they may not be
able to get the children out in time.
MUST READ, EVEN IF YOU DON'T OWN A CAR.
Shell Oil Comments - A MUST READ!
Safety Alert!
Here are some reasons why we don't allow cell phones in operating areas, propylene oxide handling and storage area, propane, gas and diesel refueling areas.
The Shell Oil Company recently issued a warning after three incidents in which mobile phones (cell phones) ignited fumes during fueling operations
In the first case, the phone was placed on the car's trunk lid during fueling; it rang and the ensuing fire destroyed the car and the gasoline pump.
In the second, an individual suffered severe burns to their face when fumes ignited as they answered a call while refueling their car!
And in the third, an individual suffered burns to the thigh and groin as fumes ignited when the phone, which was in their pocket, rang while they were fueling their car.
You should know that: Mobile Phones can ignite fuel or fumes
Mobile phones that light up when switched on or when they ring release enough energy to provide a spark for ignition
Mobile phones should not be used in filling stations, or when fueling lawn mowers, boat, etc.
Mobile phones should not be used, or should be turned off, around other materials that generate flammable or explosive fumes or dust, (I.e., solvents, chemicals, gases, grain dust, etc...)
TO sum it up, here are the Four Rules for Safe Refueling:
1) Turn off engine
2) Don't smoke
3) Don't use your cell phone - leave it inside the vehicle or turn it off
4) Don't re-enter your vehicle during fueling.
Bob Renkes of Petroleum Equipment Institute is working on a campaign to try and make people aware of fires as a result of 'static electricity' at gas pumps. His company has researched 150 cases of these fires.
His results were very surprising:
1) Out of 150 cases, almost all of them were women.
2) Almost all cases involved the person getting back in their vehicle while the nozzle was still pumping gas. When finished, they went back to pull the nozzle out and the fire started, as a result of static.
3) Most had on rubber-soled shoes.
4) Most men never get back in their vehicle until completely finished. This is why they are seldom involved in these types of fires.
5) Don't ever use cell phones when pumping gas
6) It is the vapors that come out of the gas that cause the fire, when connected with static charges.
7) There were 29 fires where the vehicle was re-entered and the nozzle was touched during refueling from a variety of makes and models. Some resulted in extensive damage to the vehicle, to the station, and to the customer.
8) Seventeen fires occurred before, during or immediately after the gas cap was removed and before fueling began.
Mr. Renkes stresses to NEVER get back into your vehicle while filling it with gas.
If you absolutely HAVE to get in your vehicle while the gas is pumping, make sure you get out, close the door TOUCHING THE METAL, before you ever pull the nozzle out. This way the static from your body will be discharged before you ever remove the nozzle.
As I mentioned earlier, The Petroleum Equipment Institute, along with several other companies now, are really trying to make the public aware of this danger.
I ask you to please send this information to ALL your family and friends, especially those who have kids in the car with them while pumping gas. If this were to happen to them, they may not be able to get the children out in time.
MUST READ, EVEN IF YOU DON'T OWN A CAR.
Shell Oil Comments - A MUST READ!
Safety Alert!
Here are some reasons why we don't allow cell phones in operating areas, propylene oxide handling and storage area, propane, gas and diesel refueling areas.
The Shell Oil Company recently issued a warning after three incidents in which mobile phones (cell phones) ignited fumes during fueling operations
In the first case, the phone was placed on the car's trunk lid during fueling; it rang and the ensuing fire destroyed the car and the gasoline pump.
In the second, an individual suffered severe burns to their face when fumes ignited as they answered a call while refueling their car!
And in the third, an individual suffered burns to the thigh and groin as fumes ignited when the phone, which was in their pocket, rang while they were fueling their car.
You should know that: Mobile Phones can ignite fuel or fumes
Mobile phones that light up when switched on or when they ring release enough energy to provide a spark for ignition
Mobile phones should not be used in filling stations, or when fueling lawn mowers, boat, etc.
Mobile phones should not be used, or should be turned off, around other materials that generate flammable or explosive fumes or dust, (I.e., solvents, chemicals, gases, grain dust, etc...)
TO sum it up, here are the Four Rules for Safe Refueling:
1) Turn off engine
2) Don't smoke
3) Don't use your cell phone - leave it inside the vehicle or turn it off
4) Don't re-enter your vehicle during fueling.
Bob Renkes of Petroleum Equipment Institute is working on a campaign to try and make people aware of fires as a result of 'static electricity' at gas pumps. His company has researched 150 cases of these fires.
His results were very surprising:
1) Out of 150 cases, almost all of them were women.
2) Almost all cases involved the person getting back in their vehicle while the nozzle was still pumping gas. When finished, they went back to pull the nozzle out and the fire started, as a result of static.
3) Most had on rubber-soled shoes.
4) Most men never get back in their vehicle until completely finished. This is why they are seldom involved in these types of fires.
5) Don't ever use cell phones when pumping gas
6) It is the vapors that come out of the gas that cause the fire, when connected with static charges.
7) There were 29 fires where the vehicle was re-entered and the nozzle was touched during refueling from a variety of makes and models. Some resulted in extensive damage to the vehicle, to the station, and to the customer.
8) Seventeen fires occurred before, during or immediately after the gas cap was removed and before fueling began.
Mr. Renkes stresses to NEVER get back into your vehicle while filling it with gas.
If you absolutely HAVE to get in your vehicle while the gas is pumping, make sure you get out, close the door TOUCHING THE METAL, before you ever pull the nozzle out. This way the static from your body will be discharged before you ever remove the nozzle.
As I mentioned earlier, The Petroleum Equipment Institute, along with several other companies now, are really trying to make the public aware of this danger.
I ask you to please send this information to ALL your family and friends, especially those who have kids in the car with them while pumping gas. If this were to happen to them, they may not be able to get the children out in time.
Thanks
for passing this along.
Obama using computer-generated Twitterbots to create appearance of social media support for gun control
Obama using computer-generated Twitterbots to create
appearance of social media support for gun control
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All of those Twitter messages that appear to
represent millions of people who support President Obama's gun control
agenda... Yeah, many of those are bot-driven. In other words, they're fake. That's what a Republican congressman from Texas is alleging, anyway. He says the president's entire gun control narrative is a fraud being perpetrated over one of the world's busiest social media sites. Rep. Steve Stockton accused Obama Feb. 25 of trying to make support for his gun control positions more muscular than it really is by flooding Twitter with messages from bot-driven programs, The Hill newspaper reported. Obama, it seems, can't get out of campaign mode. When your position is weak, spam it to life The president's "anti-gun campaign is a fraud," Stockman charged. "Obama's supporters are panicking and willing to do anything to create the appearance of popular support, even if it means trying to defraud Congress." "I call upon the president to denounce this phony spam campaign," he added. Needless to say, the president has yet to "denounce" anything he has said in regards to pushing for more gun control. And we don't expect he will. Stockman said that, in response to Obama's call for Americans to tweet their congressman in support of new gun control measures he has proposed - such as banning higher-capacity magazines, military look-alike rifles and universal background checks - he only received 16 tweets, but they were all identical. He said a closer examination revealed that only six of them were from real people. "The other 10 are fake, computer-generated spambots," said Stockton's office, in a press statement. As evidence, he said the 10 tweets used default graphics and names and have not engaged in any interaction whatsoever with other people, the congressional newspaper reported. In fact, he said two of the tweets were sent at almost exactly the same time, and both follow just one person: Brad Schneck, the president's former digital strategist. The Texas lawmaker also said just one of the six tweets from an actual person is a constituent of his in his home state. Here is a rundown of the fraudulent tweets, per Stockman's press release: -- They all use the default "egg" avatar. -- They have account names resembling names automatically suggested by Twitter. -- They have engaged in no human interaction. -- They have tweeted almost nothing promotional, sponsored messages pushing real estate websites and other liberal "grassroots" campaigns. -- They follow mostly MSNBC anchors or media outlets, not actual people. Stockman also notes that reporter Robert Stacy McCain's investigation of the fraudulent Obama campaign (available at: www.theothermccain.com) finds the majority of the Obama-supporting accounts were created in fewer than 48 hours before contacting members of Congress. Learn more: http://www.naturalnews.com/039289_Twitterbots_Obama_gun_control.html#ixzz2MDRUR7s4 http://www.rumormillnews.com/cgi-bin/forum.cgi?read=270612 |
The Mafia is Moving into Renewable Energy
The Mafia is Moving into Renewable Energy
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Traditionally the mafia controls operations in
gambling, prostitution, protection, extortion (extortion- Like Obamacare and
insurance?) and loan-sharking, yet recent evidence shows that they might
actually be adding renewable energy to that list. Italian police have recently discovered links between the Sicilian crime families known as the Cosa Nostra, and wind and solar power companies in the area. Law enforcement officers have taken around a dozen crime bosses off to jail, along with corrupt officials and company executives; they have also seized around 30 percent of Sicily’s wind farms, and have frozen more than $2 billion worth of assets. Back in 2010 a similar police operation saw the seizure of over 40 companies, land, buildings, factories, bank accounts, stocks, cars, and yachts from the Sicilian business man Vito Nicastri, also known as the ‘Lord of the Wind’ due to his investments in wind farms and solar panel factories. It is likely that the Mafia has been attracted to renewable energy for several reasons; Sicily is a sunny, windy island that offers great alternative energy opportunities; much like Germany and Spain, Italy has been awarding generous subsidies to try and encourage the development of renewable energy projects; and also, the renewable energy industry offers a legitimate business which is likely to be around for many years and can provide a good front for the family. Other renewable energy projects in Sardinia and Apulia are also being investigated for their connection to known crime families. http://oilprice.com/Latest-Energy-News/World-News/The-Mafia-is-Moving-into-Renewable-Energy.html http://www.rumormillnews.com/cgi-bin/forum.cgi?read=270613 |
It’s Official, the Fourth Amendment is Dead
It’s
Official, the Fourth Amendment is Dead
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Infowars.com
February 28, 2013
Tuesday’s ruling pitches the Fourth Amendment protection against
unreasonable search and seizure into the dustbin of history. Photo: Library of
Congress.
On Tuesday, the Supreme Court disemboweled the Fourth Amendment. In a 5-4
decision, the Court ruled that citizens cannot challenge government wiretapping
laws, in particular the unconstitutional Foreign Intelligence Surveillance Act
of 1978 and, more recently, the FISA Amendments Act of 2008.
According to
Justice Samuel Alito, millions of Americans can no longer expect the government
to uphold the Constitution and prevent the NSA from conducting dragnet surveillance.The government established so-called “sovereign immunity” last August when the Ninth Circuit in San Francisco dismissed Al Haramain Islamic Foundation v. Obama following a December 2010 court case ruling the NSA’s warrantless wiretap program was illegal.
FISA is a near perfect scheme for the government. It allows the Foreign Intelligence Surveillance Court to rubber-stamp surveillance requests of supposed terrorists (the Justice Department claims there are over a million terrorists in America). The feds are not obliged to identify a target and they can conduct surveillance a week before making a FISA Court request. Surveillance can continue in the unlikely event that a request is denied and an appeal is set in motion.
Following the attacks of September 11, 2001, Congress passed the Patriot Act. It allows federal agents to write their own search warrants in violation of the Fourth Amendment and does away with the FISA-issued search warrant requirement, itself blatantly unconstitutional.
“FISA gives the government unchecked authority to snoop on all Americans who communicate with any foreign person, in direct contravention of the Fourth Amendment,” Andrew Napolitano wrote in December. “The right to privacy is a natural human right. Its enshrinement in the Constitution has largely kept America from becoming East Germany.”
Alito’s argument rests on the fact that FISA is a secret court. “Yet respondents have no actual knowledge of the Government’s §1881a targeting practices. Instead, respondents merely speculate and make assumptions about whether their communications with their foreign contacts will be acquired under §1881a,” he wrote.
Alito was joined Chief Justice John Roberts, and Justices Anthony Kennedy, Antonin Scalia and Clarence Thomas. Justices Stephen Breyer, Ruth Bader Ginsburg, Elena Kagan and Sonia Sotomayor dissented the ruling.
Tuesday’s ruling pitches the Fourth Amendment protection against unreasonable search and seizure into the dustbin of history. It means we are one step closer to becoming East Germany where the Stasi conducted dragnet surveillance with impunity.
Stasi, however, was old school. The modern high-tech surveillance state is infinitely more effective and will be used to monitor the political attitudes of all Americans in dragnet fashion and ferret out for persecution – and elimination – those who pose a threat to the status quo.
This article was posted: Thursday, February 28, 2013 at 10:15 am
David Icke on the Truth About Gnostic Archons and the New World Order
David Icke on the Truth About Gnostic Archons and the New
World Order
Govt Preps For Soviet Style Purge Of Americans – Red Alert From Alex Jones & Infowars
Govt Preps For Soviet Style Purge Of Americans – Red Alert From Alex Jones & Infowars
Tuesday,
February 26, 2013 7:10
Is the United States government REALLY preparing for a 'Soviet Style' purge of Americans? If so, wouldn't that make the US government a TERRORIST organization? According to Alex Jones & Paul Joseph Watson in this video, DHS-funded drones will very soon be targeting legal gun owners in America. If this is true, shouldn't it now be declared that the Department of Homeland Security is a TERRORIST ORGANIZATION akin to Al-Qaeda that deserves the FULL WRATH of PUNISHMENT deserved of any other TERRORIST ORGANIZATION? It sure appears to me that the DHS and the Obama Administration are walking upon a very slippery slope and that freedom is at greater risk than at any prior time in American history. Why would a government threaten such terror against law abiding citizens and think that they can get away with it?
If the US government and Department of Homeland Security will be using drones against law abiding American citizens, by the FBI's own definition of Terrorism, the Department of Homeland Security and the Obama Administration should now be legally labeled Domestic Terrorists against Americans!
The FBI utilizes a definition of terrorism based upon the agency’s general functions under 28 CFR § 0.85. Under this regulation an act of terrorism is defined by “the unlawful use of force and violence against persons or property to intimidate or coerce a government, the civilian population, or any segment thereof, in furtherance of political or social objectives.” The USA PATRIOT Act expanded this definition to include domestic acts within the definition of terrorism. Section 802 of the USA PATRIOT Act modified the legal definition of terrorism (18 USC § 2331) to include a category of “domestic terrorism” that is defined by “acts dangerous to human life that are a violation of the criminal laws of the United States or of any State” intended to “intimidate or coerce a civilian population”, “influence the policy of a government by intimidation or coercion” or “affect the conduct of a government by mass destruction, assassination, or kidnapping” that are conducted primarily within the jurisdiction of the U.S. One of the defining features of terrorist acts has always been a component of violence. Even under the expanded definition of terrorism created by the USA PATRIOT Act, there must be an act that is “dangerous to human life” indicating some form of physical harm to others could arise from the action.
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