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The Heat is intensifying on The Cartel*. Exposés of their
Market Interventional Regime are increasingly appearing in the Mainstream
Financial Media.
*We encourage those who doubt the scope and power of
Overt and Covert Interventions by a Fed-led Cartel of Key Central
Bankers and Favored Financial Institutions to read Deepcaster’s
December, 2009, Special Alert containing a summary overview of Intervention
entitled “Forecasts and December, 2009 Special Alert: Profiting From
The Cartel’s Dark Interventions - III” and Deepcaster’s
July, 2009 Letter entitled "A Strategy For Profiting From The
Cartel’s Dark Interventions & Evolving Techniques - II" in the
‘Alerts Cache’ and ‘Latest Letter’ Cache at
www.deepcaster.com. Also consider the substantial evidence collected by the
Gold AntiTrust Action Committee at www.gata.org for information on precious
metals price manipulation. Virtually all of the evidence for Intervention has
been gleaned from publicly available records. Deepcaster’s profitable
recommendations displayed at www.deepcaster.com have been facilitated by
attention to these “Interventionals.” Attention to The
Interventionals facilitated Deepcaster’s recommending five short
positions prior to the Fall, 2008 Market Crash all of which were subsequently
liquidated profitably.
Thus, we address certain of The Key Revelations and how Investors
might Protect and Profit. The first excerpt is from Motley Fool.com.
“A recent extraordinary hearing held by the
Commodity Futures Trading Commission (CFTC) to discuss the need for position
limits in metals futures morphed unexpectedly into what I will argue was the
grandest expose of potential fraud in modern financial history…
There is not an investor among us who has not been
deeply disappointed by revelations of shady dealings in the financial sector
over recent years…
Given a financial industry so awash in systemic
impropriety, perhaps the notion of a scheme to manipulate and suppress the
prices of gold and silver isn't so loony after all…
…GATA has spent more than a decade compiling
evidence of gold price suppression…
…during the CFTC hearings the world was
finally offered a glimpse from inside the alleged manipulation process.
Andrew Maguire, a professional metals trader in London,
has claimed colleagues from JPMorgan Chase bragged of their ability to knock
down the price of silver at will.
On February 3, 2010…he reportedly informed the
CFTC's enforcement division of a manipulation event that would occur two days
later…
Mr. Maguire alerted GATA of his allegations... which
were then made public by GATA Chairman Bill Murphy during the recent hearings.
But wait... the story gets bigger still.
…The underlying argument here is that the
volume of gold traded daily at the London OTC metals exchange (LBMA) is so
large (at about 20 million ounces of gold per day), that in fact the
over-the-counter market for "physical" metal can not possibly be
backed on a 1:1 basis by actual physical supply. As Mr. Douglas
asserts: "it's fractional-reserve accounting, and you can't trade that
much gold -- it doesn't exist in the world"…
I believe that these revelations place this entire
leveraged house of cards at risk.
Conceivably, all it would take would be a few deep-pocketed investors
overseas to call the market's bluff by demanding physical delivery of
bullion, and the world's major futures exchanges could break down before our
very eyes…Without mincing words, if the supposed quantities of gold and
silver bullion simply are not there, then we may witness the greatest
incidence of fraud in financial history.” (Emphasis added.)
“Is Your Safe Haven a House of Cards?”
Christopher Barker, The Motley Fool, 4/5/10
The Evidence is now overwhelming that Cartel Intervention in the
Markets has existed for years.
But The Cheese is becoming binding for The Cartel. Thus, it is crucial
to consider the effect that certain specific revelations may have on Key
Markets.
Consider the following specifics excerpted from a Huffington
Post article.
“We've had a string of amazing revelations
recently regarding the world's precious metals market…
This news has been actively suppressed in the
mainstream media…
The Commodity Futures Trading Commission, a U.S.
government regulatory agency, held hearings in Washington
D.C. in late March…
Analysts like silver maven, Ted
Butler, hedge fund giant, Eric Sprott, and the Gold
Anti-Trust Action Committee (GATA) have been collecting evidence of this
manipulation for years.
These hearings were supposed to be a non-event…
The CFTC even invited GATA's Bill Murphy and Adrian
Douglas to make statements. Would you be surprised to learn that the cameras
had a "technical malfunction" during Bill Murphy's statement, which
magically righted itself immediately after he finished?
After the hearing, according to Douglas,
Murphy was contacted by several major media outlets for more interviews.
Within 24 hours, all the interviews were canceled. All of them…
The second part is the appearance of London
metals trader and now whistleblower Andrew Maguire, who understands JP
Morgan's manipulation scheme inside and out…
Maguire has taken some personal risks to tell all
this in public. In fact, almost immediately after his initial statements, he
was run over by a car while walking down the street. The driver sped away,
nearly running over some other pedestrians in his haste to escape.
Fortunately, Maguire survived the hit-and-run "accident" with minor
injuries. What a coincidence.
The third item was during the question-and-answer session at the CFTC hearings.
GATA's Adrian Douglas.
For many years, people assumed that the London
Bullion Market Association (LBMA), the world's largest gold market, was a
simple bullion market. Cash for gold. However, just in the past few months,
more people are realizing that there is actually very little gold within the
LBMA system…
During the CFTC hearings, Jeffrey Christian of CPM
Group apparently informed us that the LBMA banks actually have about a
hundred times more gold deposits than actual gold bullion…
This means that there are thousands of clients -- Asian and Middle Eastern governments
and sovereign wealth funds among them -- who think they own hundreds of
billions and perhaps trillions of dollars of gold bullion, and are being charged
storage fees on that fantasy bullion, but they really own unsecured gold
loans to the banks at a negative interest rate.
There is nothing new about this. Morgan Stanley paid
several million dollars in 2007 to settle claims that it had charged 22,000
clients for storage fees on silver bullion that didn't exist…
The entire gold market is complete
"ponzimonium," a word popularized by the CFTC's Bart Chilton…
There is an easy way to sidestep all the scams,
frauds, and phony nonsense. Take delivery on your bullion, whether a 1
oz. Kruggerand or a truckload of 400 oz. institutional bars. Put it in an
independent, insured depository that is not affiliated with any bank.
Assay all the holdings for tungsten counterfeits. Then audit it periodically,
for exact serial numbers and specified weights.” (Emphasis added.)
“It's Ponzimonium in the Gold Market”
Nathan Lewis, Huffington Post, 3/31/10
Indeed, if you own Gold (or Silver) Bullion stored at a Major
Financial Institution, there’s a chance that all your really own is an
“unsecured Gold loan to the banks at a negative interest rate” as
Lewis so aptly puts it.
First principle for Investors, if you do, or wish to, own Gold and/or
silver (and you should), it is essential to demand a delivery of physical,
assay it, and store it yourself.
Physical has commanded substantial premium to Paper in the past and
will do so in the future.
Underlining the importance of Physical Possession are excerpts from an
article from MarketOracle.co.uk:
“During the time I have been writing this
newsletter, I have frequently mentioned the blatant manipulation of the gold
and silver markets. For background on this issue, please see my article in
the May, 2009, issue. The manipulation of gold has been accomplished
primarily by central banks selling or leasing gold into the markets so as to
artificially depress the prices. The bullion banks (e.g., JP Morgan, Goldman
Sachs and others) have also helped suppress the prices of gold and silver by
selling them short on the commodities exchanges.
Most of the time, I have focused on the gold
manipulation schemes. That is because gold is the ultimate form of money, so
it is the primary target of all those who benefit from the current fiat money
system. However, silver is also a monetary metal. When the silver price
rises, this can also be a sign that something is rotten in the fiat currency
world. In addition, silver is a very important industrial metal. No doubt,
there are parties who benefit from being able to buy silver at artificially
depressed prices for their industrial needs…
At the CFTC hearings, there was some astounding
testimony from Jeffrey Christian, founder of the CPM Group, a precious metals
consulting firm. Mr. Christian, formerly of Goldman Sachs, actually
admitted that the LBMA trades more than one hundred times the amount of gold
that it actually has on hand to back up the trades! In short, most of
those who think that they are buying physical gold on the LBMA are actually
buying paper. The LBMA is counting on the fact that most of the buyers
will not want to take physical delivery of their gold. If and when they do,
then cash settlements are offered instead, exactly as reported by newsletter
writer Jim Willie several months ago.
Mr. Christian's testimony has serious implications.
It means that the LBMA is actually short many times the amount of gold it has
on hand. If enough buyers insisted on taking delivery, then the LBMA would
clearly be in default. In fact, given that the LBMA has been pressuring
buyers to take cash plus 25% rather than physical delivery, it can be said
that the LBMA has already been in default on its promises to deliver physical
gold to buyers…
A Postscript:
On March 25, 2010, Bill Murphy made public the
information about the metals market manipulation which London metals trader
Andrew Maguire had provided to the CFTC. On March 26, the very next day, Mr.
Maguire and his wife were injured when their car was struck by a hit-and-run
driver in the London area. According to information obtained by GATA,
Maguire's car "...was struck by a car careening out of a side road. When
a pedestrian who witnessed the crash tried to block the other driver's
escape, the other driver accelerated at the pedestrian, causing him to jump
out of the way to avoid being hit. The other driver's car then struck two
other cars in escaping. But the other driver was caught by police after a
chase in which police helicopters were summoned."
Mr. Maguire and his wife spent the night in a
hospital and are expected to make a full recovery. For now, we will assume
that the incident was merely an accident.
I did an internet search to see whether or not any
of the mainstream "news" organizations had reported on the market rigging
information which Andrew Maguire provided to the CFTC. CNBC? Fox
Business? Bloomberg? Not one of them did.” (Emphasis added.)
“Metals Market Manipulation Update: Are The
Metals markets Rigged? Do Fish Swim?!”
Jim Richter, The Market Oracle, 4/6/10
This raises the important issue of Shares in Gold and Silver Miners.
As acquisitions for one’s Core Holding well-managed Juniors (and
Seniors) with Substantial Reserves are Superb Assets.
But one must bear in mind that the Representations of
One’s Ownership Interest in Precious Metals Mining Companies, are
Paper, or, more often, Electronic Records, housed on some Remote Server. They
are not the metals themselves.
As such Paper/Electronic Data they are subject to price manipulation
and periodic price Takedowns by The Cartel. Deepcaster has developed a
Strategy designed to protect Wealth from, and Profit in spite of, such
Manipulation – see “Defeating the Cartel... With Profit, Part
2” (06/19/2009) and “Defeating the Cartel... With Profit, Part
1” (03/28/2008) in the ‘Articles by Deepcaster’ at www.deepcaster.com. This Strategy is designed to allow one to buy and
profit from, Mining Shares in spite of Cartel Price Manipulation.
The Cartel’s Market Interventional Regime is pressured on other
fronts as well, the primary one of which is Debt – Major Sovereign
Nation Debts are increasing, and several Nations will, ultimately, be unable
to pay their Debts.
Greece’s Problems are the Eurozones’ Problems, and the
Eurozone’s Problems are to one degree or another Challenges for
Investors/Taxpayers around the World, given the Interconnectedness of
Today’s International Financial System.
“Greek banks are being hit by a wave of
redemptions as rich citizens and companies look to move their money to big
global banks or offshore as the country's debt crisis rages, the
Telegraph newspaper reported on its Web site…
The report appeared to contradict recent data from
the European Central Bank and comments to Reuters by analysts and Greek
banking sources, who said there was no clear evidence of a major, extended
deposit outflow from Greek banks…
More than 3 billion euros ($4.05 billion) of
deposits held by Greek households and companies left the country in February,
while in January about 5 billion euros of deposits were moved out, the
Telegraph quoted figures from Bank of Greece as showing…
However, latest ECB data showed no clear trend for
deposit flows out of Greek banks.” (Emphasis added.)
“Panicky Investors Pull Cash Out of Greek
Banks”
Moneynews.com, 4/6/10
These revelations of ECB misstatements, highlights the issue of
Official Data (Bogus, usually, as the ECB data above) versus Real Data. In
order to make profitable investment decisions, it is essential to have the
Real Data, such as that provided by Shadowstats.com on the U.S. Economy.
Official Numbers vs. Real Numbers
Annual Consumer Price Inflation reported March 18, 2010
2.14%
9.39% (annualized March 2010 Rate)
U.S. Unemployment reported April 2, 2010
9.7%
21.7%
U.S. GDP Annual Growth/Decline reported March 26, 2010
0.06%
-4.62%
As well, and Investors/Taxpayers also need to be aware not only of
prospective, or, defacto, present, sovereign nation default, (such as for the
so-called PIIGS), but also of the prospective defaults of other states and
governmental entities, and these defaults likely effects.
For example, several U.S. States are near, or de facto in, bankruptcy,
California, for example, has over $500 billion in unfunded liabilities.
California’s entire Pension system is at Great Risk.
“Researchers tallied CalPERS' unfunded liabilities
at $239.7 billion and CalSTRS' liabilities at $156.7 billion.
The new figures are significantly higher than
previous estimates from the pension funds. In July 2008, CalPERS estimated
its unfunded liabilities at $38.6 billion and CalSTRS estimated its
liabilities at $16.2 billion (AP/Ventura County Star, 4/5).”
“Study: California Public Pensions Underfunded
by Over $500B”
Californiahealthline.org, 4/6/10
Deepcaster Recommends Systematically Moving away from Paper
“Wealth” – for the Reasons Stated in
“Opportunities to Profitably Escape Paper "Wealth" in
2010” (03/12/2010) in the ‘Articles by Deepcaster’
Cache at www.deepcaster.com.
And then one must be prepared to cope with what is outright chicanery,
to put it mildly.
To his credit, Eminent Mainstream Financial Writer, Peter Brimelow,
recently chronicled such Chicanery in a recent Marketwatch.com article.
“Paranoids notoriously have enemies, but
sometimes they have friends too. Long-derided financial conspiracy theories
are finally being reported in the mainstream media. Could be ominous…
One example: another remarkable article by ferocious
Goldman critic Matt Taibbi, posted March 31 on Rolling Stone magazine's Web
site. (See "Looting Main Street.") It purports to chronicle the way
in which J.P. Morgan Chase managed to saddle Jefferson County, Ala.
(containing the city of Birmingham) with more than $5 billion debt for a
sewage system originally supposed to cost $250 million, bringing it to the
brink of bankruptcy…
If Taibbi is right about this Alabama atrocity --
and he says that there have already been more than 20 local convictions for
corruption, plus an SEC fine for J.P. Morgan -- then anyone dealing with Wall
Street is in effect putting themselves in the hands of the Sopranos. It's
hard to see how any economy can survive this sort of predatory parasitism.”
“Paranoids have enemies, radical gold bugs
have Wall Street; Commentary: Gold-conspiracy theories go mainstream”
Peter Brimelow, Marketwatch.com, 4/5/10
All of this points to Increased Market Volatility and Major Markets
Moves sooner rather than later. For Deepcaster’s Forecast for Gold,
Silver, Equities, Crude Oil, U.S. Dollar and U.S. T-Notes and Bonds, see the
‘Alerts Cache’ and ‘Latest Letter’ Cache at www.deepcaster.com.
And as if coping with Chicanery were not enough, Investors / Taxpayers
must be prepared to deal with the consequences when the Mainstream
Media–perpetuated Delusion of a Sustainable Economic Recovery is
finally punctured.
For example, not only is Residential Real Estate not
recovering, Commercial Real Estate is likely to take a Big Bath in the next
few months.
“About half of the country's commercial real
estate mortgages will be "underwater" by the end of 2010, meaning
the value of the assets will be less than what's owed on them, says Elizabeth
Warren, a Harvard law professor and chairman of the Congressional Oversight
Panel of the Troubled Asset Relief Program.
That's bad news for the economy and small and
midsize banks, which will need up to three years to work out the problems,
Warren says.”
“Warren: Commercial Real Estate Is Sinking
Fast”
Forrest Jones, Moneynews.com, 4/6/10
For an overarching Strategy for addressing all these problems, see
Deepcaster’s article “Avoiding Wealth Confiscation, with
Profit!” (02/05/10) available in the ‘Articles by
Deepcaster’ Cache at www.deepcaster.com.
In conclusion, for an excellent overview of the Magnitude of The
Financial – Institutional Problem, Matt Taibbis well-documented
articles in Rolling Stone are essential Reading.
“Lloyd Blankfein…CEO…at Goldman
Sachs….left a peculiar voicemail…
Not to worry, Blankfein reassured employees.
"In a year that proved to have no shortage of story lines," he
said, "I believe very strongly that performance is the ultimate
narrative."
The nation's six largest banks…set aside a
whopping $140 billion for executive compensation last year, a sum only
slightly less than the $164 billion they paid themselves in the pre-crash
year of 2007…
Beyond a few such bleats of outrage, however, the
huge payout was met, by and large, with a collective sigh of resignation…
The only reason such apathy exists, however, is
because there's still a widespread misunderstanding of how exactly Wall
Street "earns" its money, with emphasis on the quotation marks
around "earns."… where in the hell did Wall Street's
eye-popping profits come from, exactly? Did Goldman go from bailout city to
$13.4 billion in the black because, as Blankfein suggests, its
"performance" was just that awesome?...
The answer to that question is basically twofold:
They raped the taxpayer, and they raped their clients.
The bottom line is that banks like Goldman have
learned absolutely nothing from the global economic meltdown. In fact,
they're back conniving and playing speculative long shots in force —
only this time with the full financial support of the U.S. government. In the
process, they're rapidly re-creating the conditions for another crash, with
the same actors once again playing the same crazy games of financial chicken
with the same toxic assets as before…
CON #1 THE SWOOP AND SQUAT
By now, most people who have followed the financial
crisis know that the bailout of AIG was actually a bailout of AIG's
"counterparties" — the big banks like Goldman…
What is less understood is that the bailout of AIG
counter-parties like Goldman and Société
Générale, a French bank, actually began before the collapse of
AIG, before the Federal Reserve paid them so much as a dollar. Nor is it
understood that these counterparties actually accelerated the wreck of AIG…
At the height of the housing boom, Goldman was selling
billions in bundled mortgage-backed securities…to various institutional
suckers…At the same time, in a glaring example of the perverse
incentives that…Goldman was also betting against those same sorts of
securities…
…Goldman made money coming and going…
…As AIG headed into a tailspin that fateful
summer of 2008…So Goldman and other banks began demanding that AIG
provide them with cash collateral…Goldman received $5.9 billion in
collateral…
…Had AIG gone bankrupt, Goldman would have
likely lost much of the $5.9 billion that it pocketed as collateral…
…according to the terms of the bailout deal
struck when AIG was taken over by the state in September 2008, Goldman was
paid 100 cents on the dollar on an additional $12.9 billion it was owed by
AIG…Along with the collateral it pocketed, that's $19 billion in
pure cash that Goldman would not have "earned" without massive
state intervention…
In fact, the Fed became not just a source of
emergency borrowing that enabled Goldman and Morgan Stanley to stave off
disaster — it became a source of long-term guaranteed income. Borrowing
at zero percent interest, banks like Goldman now had virtually infinite ways
to make money…
"You're borrowing at zero, putting it out there
at two or three percent, with hundreds of billions of dollars — man,
you can make a lot of money that way,"…
The "Pig in the Poke" scam is another key
to the entire bailout era. After the crash of the housing bubble — the
largest asset bubble in history…In the cleanup phase after that bubble
burst, the whole game was to get taxpayers, clients and shareholders to buy
these worthless cats, but at pig prices.
…Another new rule allowed banks to collect
interest on the cash they were required by law to keep in reserve accounts at
the Fed — meaning the state was now compensating the banks simply for
guaranteeing their own solvency…
That's why the biggest gift the bankers got in the
bailout was not fiscal but psychological. "The most valuable part of the
bailout," says Rep. Sherman, "was the implicit guarantee that
they're Too Big to Fail." Instead of liquidating and prosecuting the
insolvent institutions that took us all down with them in a giant Ponzi
scheme, we have showered them with money and guarantees and all sorts of
other enabling gestures. And what should really freak everyone out is the
fact that Wall Street immediately started skimming off its own rescue money…
More to the point, the fact that we haven't done
much of anything to change the rules and behavior of Wall Street shows that
we still don't get it…” (Emphasis added.)
“Wall Street's Bailout Hustle: Goldman Sachs
and other big banks aren't just pocketing the trillions we gave them to
rescue the economy - they're re-creating the conditions for another crash”
Matt Taibbi, Rollingstone.com, 2/17/10
Taibbi also chronicles the Devastating Effect ‘Creative
Financing’ can have on Main Street.
“If you want to know what life in the Third
World is like, just ask Lisa Pack, an administrative assistant who works in
the roads and transportation department in Jefferson County, Alabama. Pack
got rudely introduced to life in post-crisis America last August, when word
came down that she and 1,000 of her fellow public employees would have to
take a little unpaid vacation for a while. The county, it turned out, was
more than $5 billion in debt…
As public services in and around Birmingham were
stripped to the bone, Pack struggled to support her family on a weekly
unemployment check of $260…
… There were also a few bills that were unique
to the area — like the $64 sewer bill that Pack and her family paid
each month. "Yeah, it went up about 400 percent just over the past few
years,"…
The sewer bill, in fact, is what cost Pack and her
co-workers their jobs. In 1996, the average monthly sewer bill for a family
of four in Birmingham was only $14.71 — but that was before the county
decided to build an elaborate new sewer system with the help of out-of-state
financial wizards with names like Bear Stearns, Lehman Brothers, Goldman
Sachs and JP Morgan Chase. The result was a monstrous pile of borrowed money
that the county used to build, in essence, the world's grandest toilet…
Birmingham became the poster child for a new kind of
giant-scale financial fraud, one that would threaten the financial stability
not only of cities and counties all across America, but even those of entire
countries like Greece…
…We live in a gangster state… In
Birmingham, lots of people have gone to jail for the crime…
The original cost estimates for the new sewer system
were as low as $250 million. But in a wondrous demonstration of the
possibilities of small-town graft and contract-padding, the price tag quickly
swelled to more than $3 billion…
Wall Street was happy to help. First, it employed
the same trick it used to fuel the housing crisis: It switched the county
from a fixed rate on the bonds it had issued to finance the sewer deal to an
adjustable rate. The refinancing meant lower interest payments for a couple
of years — followed by the risk of even larger payments down the road…
But then Wall Street got really creative. Having
switched the county to a variable interest rate, it offered commissioners a
crazy deal: For an extra fee, the banks said, we'll allow you to keep paying
a fixed rate on your debt to us. In return, we'll give you a variable amount
each month that you can use to pay off all that variable-rate interest you
owe to bondholders.
In financial terms, this is known as a synthetic
rate swap — the spidery creature you might have read about playing a
role in bringing down places like Greece and Milan. On paper, it made sense:
The county got the stability of a fixed rate, while paying Wall Street to
assume the risk of the variable rates on its bonds. That's the synthetic
part. The trouble lies in the rate swap. The deal only works if the two
variable rates — the one you get from the bank, and the one you owe to
bondholders — actually match. It's like gambling on the weather. If
your bondholders are expecting you to pay an interest rate based on the
average temperature in Alabama, you don't do a rate swap with a bank that
gives you back a rate pegged to the temperature in Nome, Alaska…
For Jefferson County, the deal blew up in early
2008, when a dizzying array of penalties and other fine-print poison worked
into the swap contracts started to kick in…
Last November, the SEC charged JP Morgan with fraud
and canceled the $647 million in termination fees. The bank agreed to pay a
$25 million fine and fork over $50 million to assist displaced workers in
Jefferson County. So far, the county has managed to avoid bankruptcy, but the
sewer fiasco had downgraded its credit rating, triggering payments on other
outstanding loans and pushing Birmingham toward the status of an African
debtor state. For the next generation, the county will be in a constant fight
to collect enough taxes just to pay off its debt, which now totals $4,800 per
resident.
… "It's not high finance," says
Taylor, the former bond regulator. "It's low finance." And even if
the regulators manage to catch up with them billions of dollars later, the
banks just pay a small fine and move on to the next scam. This isn't capitalism.
It's nomadic thievery.”
“Looting Main Street: How the nation's biggest
banks are ripping off American cities with the same predatory deals that
brought down Greece”
Matt Taibbi, Rollingstone.com, 2/17/10
It is not yet too late to seize The Opportunity to achieve genuine
reform of the financial system in this Session of the U.S. Congress.
Achieving significant reform is in the Interest of Investor/Taxpayer’s
around the World. John Tate, President of “Campaign” for Liberty
tells us how.
“After nearly wrecking the U.S. economy with
its backroom deals and hundreds of billions of worthless fiat currency, you
would think Ben Bernanke's Federal Reserve would be on every politician's
target list.
But shockingly, Fed-loving senators, led by
Christopher Dodd (D-CT) and backed by the Obama White House, are pushing
legislation to give the Fed more power ... while stripping out Ron Paul's
Audit the Fed.
Dodd's Fed Empowerment Act is now on the fast track
in the Senate, but there is still time for liberty activists to expose and
stop this powergrab…
Crafted by Senator Christopher Dodd, the Senate
version would create a new Consumer Financial Protection Bureau to be housed
at the Fed and funded by it.
And the Connecticut senator would have us believe
this agency would be "independent."…
The legislation also includes a new Financial
Stability Oversight Council to "monitor" companies that supposedly
could become "too big to fail."
… under the Federal Reserve's supervision…
Showing his utter contempt for the nearly 80% of
Americans who think it's time to thoroughly audit the Federal Reserve, Chris
Dodd's bill also strips out the complete audit of the Fed…
For far too long, the Federal Reserve has wielded
its control over our money with disastrous results for the value of the
dollar and the security of our economic future.
Enough is enough…
Tell them that if they are serious about financial
reform, they will take every opportunity to push for a standalone, up or down
vote on Audit the Fed, S. 604…
We can prevent further government meddling in our
economy, but only if we take immediate action.
Call your senators Today!”
“You can stop the Fed from grabbing more power”
John Tate, President of Campaign for Liberty, 4/8/10
Investors have a Window of Opportunity, but that Window will not be
open much longer.
Best regards,
Deepcaster LLC
Deepcaster.com
April, 10, 2010
Wealth Preservation - Wealth Enhancement
Financial and Geopolitical Intelligence
Gravitas, Pietas, Virtus
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