Parisian Family Office, CEO. Began Wall Street, 1982. Founded investment firm, CHIPPEWA PARTNERS, Native American Advisors. Active Trader. White Earth Chippewa Tribal member. Was NYSE/FINRA arb. Conservative, raised on Great Plains reservations. Pureblood, clot-shot free. In a world elevated on a dopamine binge, this is his take! Written from MT Ghost Ranch on the Yellowstone River, TN farm Pamelot or San Jose del Cabo, Mexico, CASA TULE'. Always been, will always be, an optimist.
Tuesday, March 31, 2015
As a BIA "brat" my Dad worked his ass off trying to better his life and the life of his family by advancing his career when job opportunities opened up in Indian Country. We moved often. I attended 4 high schools in 3 states. We lived on Indian reservations every single day of my high school career.
The biggest single act of "racial violence" came in Pine Ridge, South Dakota when my parents sent me off the reservation to get a "better" education than in the local school, Oglala Community High School. I played football and Rushville HS in Rushville, Nebraska went up the 25 miles to Pine Ridge to play a football game.
When the game was over the coaches told us to put our helmets on inside the bus and to bend over and put our faces in our laps and not to look up or look out any window.
The rocks started coming from all directions. The bus was being stoned. It was the Indians stoning the "white" off-reservation high school football team that had soundly trounced the Pine Ridge Thorpes.
It was the single biggest act of racial violence I had ever been a part of. As an "Indian kid" on a "white" bus it was an eye opener. Racism works both ways.
Wednesday, March 25, 2015
How does Main Street benefit from years of printing money for the Wall Street banks? Look around your town, your 'hood, your workplace, your family. Look.
As a money manager when I read some report, any report from the government regarding financial or economic data my eyes glaze over. It is full of lies. Lots of lies. Nothing new there.
When I read something from Wall Street I have to ask what are they trying to get me to do with my money and the investors I represent? What do they have to gain?
When I worked at Drexel Burnham Lambert I plowed through piles upon piles of corporate bond prospectus's. I wanted to be the guy involved in all the private partnerships that were part and parcel of the underwritings. I wanted to be that insider. I wanted the kickers, the warrants, the preferred terms. Not a chance. I didn't work in Beverly Hills and I wasn't on the X-shaped trading desk.
Those sweeteners made some people very wealthy. Good for them.
Drexel was one of the best periods of my life, working and living in LaJolla. There wasn't much not to like.
Wouldn't it be great if a political figure could stand up and say that an economic downturn, a small one, would be good for this country? That we should let financial institutions fail when they go bankrupt? That a pullback now could heal America before a massive pullback comes later? That getting the onus of derivatives off the taxpayer and onto the risk-takers is healthy.
There is nothing wrong with failure. Lots of failure lies ahead because of the lies that failed America. Main Street is getting carved up and they have not a clue. Look around. Open your eyes. See for yourself.
And they are officially on record as objecting to the name of the Washington Redskins football team?
Tuesday, March 24, 2015
I was changing channels on our TV at our headquarters, (we never have the sound on) and saw the President with a teleprompter, LOL, on stage with the head honcho in Afghanistan.
And the prick from Afghanistan, (I turned on the sound), was thanking the United States taxpayers for their help.
Why doesn't the numb-nut-in-chief just wire all the drug revenue from the Afghans back to the Fed and get caught up on some of this debt?
We have no common sense in this Administration or in the Fed. None. Zero. Zilch.
Our monetary policy? There is none. The lobbyists run the show.
Monday, March 23, 2015
Saturday, March 21, 2015
It was taken from the Chairmans Corner on p. 2.
"We have shown the world that we can gather strength and will do so whenever it is necessary. We will continue our vigilance until we rid ourselves of this malignancy that pervades and persists. With your continued support I wil gladly and joyfully lead this fight on your behelf."
Darrell "Chip" Wadena
White Earth Reservation
I don't think this scum bag ever paid to the MCT Tribe, White Earth Reservation a single penny for the judgement against him for bribery, conspiracy, theft, embezzlement and money laundering.
Truly the darkest of times for White Earth.
I would like one member of the FOMC to take the time to tell the American public the truth about the last seven years and monetary policy.
That the sole aim was once again to bail out the insolvent institutions that continue to exist today, mainly Bank of America and Citigroup, all-the-while understanding that under the guise of QE, the Fed would directly/indirectly purchase the equities of these institutions to present this ongoing façade at the expense of the American people.
That monetary policy assisted directly in the destruction of the middle class and the wealth divide that has grown wider at any time in recent history.
That capitalism has been destroyed along with our capital markets directly due to monetary policy, no fundamental price discovery exists in regard to any asset class, and this, from the beginning was the motive. A motive which would/did allow these same insolvent institutions the ability to re-package and sell toxic garbage to yield starved investors due solely to the Central Banks around the world.
That you completely understood when implementing the policies, that these losses would be borne eventually, but disregarded this fact to allow the institutions to deleverage. That Central Banks were cognizant of the executive bonus pool at these same institutions and as regulator, continued to bless the opaque, black box accounting practiced by all to justify the said bonus pool. Once again at taxpayer and investor expense.
That you have been out of policy tools for some time, had no intention, and continue to have no intention of raising rates, but have been backed into a corner where the only tool left is rhetoric. Rhetoric which is only possible due to the current flood of liquidity which the banks must have continue or we will indeed find out immediately, who in fact, is still insolvent (see above). I would even go as far to suggest that if you aimed only in the short-term to attempt to move the credibility scale and did raise short-term rates, the curve would flatten further working towards inversion, further damaging the insolvent institutions you represent.
That you and your associates completely understood the damage you were doing to 80% of the American population and chose to ignore this fact due to the conflict of interest that exists in representation.
That you understood from the beginning that the stress tests were for propaganda purposes only and bared no basis in fact given a repeat of the 2008 crisis.
I believe that this would represent a start, coupled with sending independent forensic auditor teams into every systemically important institution to allow the taxpayer to see exactly what they have been/continue to support, and what the true state of each of these institutions actually is. The façade needs to end to begin to rebuild trust, the damage has been done, and the longer this current situation is allowed to continue, the longer the road to recovery.
A concerned citizen.