Anarchy gets a bad rep. Usually, when one thinks of anarchy, one thinks of total lack of control, bug eyed terrorists running wildly through the streets hurling bombs at any moving or stationary target; moving gun battles raging through the streets as revolutionaries battle the forces of the status quo for control of the organs of infrastructure – radio and TV stations, railroads, airports, water treatment facilities; even the streets themselves.
Vermont Trotter
I received what some might call an elite education from schools habituated by the eastern establishment. I turned my back on that years ago and went a different way. I have been a pilot, a mechanic, an air traffic controller. I have been involved in international trade and for a while ran my own aircraft parts and support company. Fifteen years ago I moved from Dallas TX to Northern Idaho and for reasons that remain perplexing spent ten of the intervening fifteen years as a logging contractor. Oddly enough, one of my primary chores as a logging contractor was to dig into title and other courthouse records. I worked private land and you better be sure of property lines and ownership records when you do so. If you are wrong, you have to pay triple stumpage. That mounts up. I gained a great deal of familiarity with title records and learned to read and understand the documents long before this mess arrived on my doorstep. These days I am the National Director of Protect America’s Dream, a national organization dedicated to bringing awareness to the country of exactly what the national banking associations did to this country and exploring ways to undo the mess they made. I am honored to be part of this group.
In April of 2000, Morgan Stanley Dean Witter produced a white paper for their more sophisticated investors entitled “The B2B Internet Report: Collaborative Commerce”. This report was a snapshot of how the internet had influenced commerce up to that time. It also speculated how the internet was due to influence commerce into the future. It demonstrated how the internet had made information more transparent between business partners and how business partners, both buyers and sellers, would benefit from deeper collaboration in online B2B Commerce.
By Ken Dost and Vermont Trotter
What is MERS? This question has confounded legal minds for the last five years. After intense study over the last three years, the answer seems to be: It all depends upon who is asking and more importantly, why. Then and only then will they give you an answer.
A couple of cases in point. When asked by the Nebraska State Banking Commission for the purposes of taxation, MERS answered that in no uncertain terms does MERS have any involvement in the note. They do not service notes, they do not originate notes, they have no beneficial interest in the note.
On Thursday, the 16th of August, 2012, the entire western banking system experienced a 9.2 on the Richter Scale event. On that day, for the first time in the history of the United States, the Washington State Supreme Court ruled that MERS, the Mortgage Electronic Registry Service, is not, and cannot be a beneficiary under the statutes of Washington State. In a well reasoned opinion, the Justices saw through the charade that is MERS and said “no” to the lie.
Who knows what the ultimate fallout of all this will be. MERS® put out their puff piece commenting on their loss trying to spin it as a win. I read it and thought to myself, really? That’s not what I read when I read the Bain decision. Not to worry though. They will be back. They are like the Borg from Star Trek, or at least they think they are. For them, this is a temporary setback and no doubt they are, even now, adapting and thinking of ways to overcome. Already rumour control has it that they are planning to lobby the state legislature to change the rules so MERS is suddenly legal again.
By Ken Dost and Vermont Trotter
The right, but not the obligation. That’s the basic concept of an option, put or call. You have the right to execute a given contract, but not the obligation. It’s the most basic of all derivatives. The value of the contract is based upon a given price for delivery on a date in the future.
This is a legitimate business tool. United Airlines wants to be able to lock in the price of fuel 90 days in the future. So they buy the right, but not the obligation to purchase a set amount of Jet A from the pipeline at date specific. They pay a small portion or premium for that right. The rest of the money isn’t due until and unless they exercise the option. If the price goes up, they are in the money because their price is lower than the spot. If the price goes down, they buy at the lower price, but are out the premium paid for the option purchased.
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