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Few observers make the connection, but the current
LIBOR scandal is a middle inning of two important events. The first is the
demise of the Western banker leadership crew. The executives from the most
powerful banks will be last to be deposed, all sharing an ethnic strain. The
second is the open fracture of the Western financial system. Over the past
few years, to be sure a great many people have grown tired of Jackass
descriptions of corruption within the banking sector and financial system in
general. Well, hear this: TOLD YA SO! The London Interbank Offered Rate
scandal will erupt into an uncontrollable firestorm, hitting one chamber and
then the next, with rapid contagion. The
Bank of England and the US Federal Reserve are both implicated, but they will
skate until the end game. They control the prosecutors and the news
networks. Few yet connect the LIBOR rigged prices to the important parts of
the financial kingdom run by the harried banker elite. The supposedly
informed experts point to the rigged low rates for adjustable rate mortgages,
for credit cards, and for student loans. Only the ARM rate is important among
these, since it kept and housing bubble going. If truth be told, the LIBOR
anomalies have persisted since late 2008. The intrepid first class forensic
bond analyst Rob Kirby linked the
sordid trails and mismatched discrepancies of the LIBOR to the JPMorgan
monster, the US Federal Reserve syndicate ring leader, and the USDept Treasury (haven for Goldman Sachs lieutenants).
See his 2008 article on Financial Sense (CLICK HERE).
Regulators have done nothing for four years. It was not fully appreciated at
the time, like it might be today. The LIBOR should match the settled EuroDollar contract, but it has not for years. The
evidence for price rig has been glaring for years. The big banks have skimmed
the difference for profit for years. Imagine selling milk or concrete with a
variation in price at the wholesale level, enabling vast profits from
skimming. It has been permitted for the big banks, a grand blemish on an
already scarred sector.
Anyone
with a solid intelligence quotient, a curious manner, and a suspicious streak
can detect the recent trail. The MFGlobal client account thefts were a coming
out event for the corruption. The JPMorgan margin calls on various positions
had become an acute problem. They were very short on cash. With the upcoming
December 2011 gold & silver delivery notices adding strain to the near
breakpoint, JPMorgan made a decision. They stole the MFGlobal client
accounts. They reneged on all precious metals contract delivery. They put all
the to-be-delivered metal in their own account. Mission Accomplished, the
catch phrase for unspeakable colossal permitted corruption in the USGovt and
US financial markets. The losses in May by JPMorgan in the sovereign bond and
Interest Rate Swap arena provided the Prima Facie case for the MFGlobal
thefts, showing deep losses that will escalate over time. The officials at
JPM have been telling scattered truths over the course of the last several
weeks. They admit at times that their profound losses are tied to Interest
Rate Swaps, which experienced analysts and traders can tell are for defense
of the USTreasury Bonds and their entirely unwarranted 0% yield.
LIBOR CONNECTED TO INTEREST RATE
SWAPS
The
annual now chronic $1.5 trillion USGovt deficits must be financed. They
should be financed at a Spain-like 7% yield. The two nations have equally
wrecked finances and an equal unemployment rate. But doing so would be far
too disruptive. But doing so would be far too costly. But doing so would take
away the wellspring of cheap money for the speculation. The big banks enjoy a
brisk carry trade off the USTreasury curve that makes easy profits. No other
industry is granted such risk free profits. So enter the IRSwap to generate
an artificial USTBond rally from a phony engineered flight to safety. The
thought of a flight to the safety of massive uncontrollable USGovt toxic debt
pit is laughable on its face. The LIBOR price rig has enabled virtually
free funds for the IRSwap that supports the vast 0% USTBond tower.
The next
connection will soon be revealed. The IRSwaps are fed by the deep source
fountain of LIBOR, at virtually free cost. It bears repeating. Too much attention
is given to the adjustable rate mortgage feeder process. Not enough is given
to the derivatives that are abused by the financial sector in unregulated
shadow systems. The big banks have sold too many multiples of Credit Default
Swap insurance, to the point that both counter-parties are dead. No net
neutrality is a reflection of reality. Too legless swimmers do not rescue
each other in the deep waters. They both drown, just like the bank parties
involved. However, the big story is the Interest Rate Swap contracts, those
arbitraged long-term bond swaps versus short-term bond swaps that enable free
money to finance the levers that control the long maturity for the USTBonds.
Anyone who believes the TNX fell from 3.6% in 2011 to under 1.8% was from a flight
to quality is either drinking Wall Street kool-aid or duped by their
marketing flyers or captivated by media propaganda or just plain stupid. The
vested interest in watching the 10-year USTBond yield go into ultra-low
territory is all very understandable. Many financial asset prices depend upon
a low benchmark bond yield.
But the
reality is that foreign creditors abandoned the USGovt debt auctions. The
reality is that primary dealers to those auctions found themselves stuck with
inventory. The reality is that an avalanche of USGovt debt supply could not
be handled with absent demand. The reality is that the USGovt borrowing costs
required, if not demanded, ultra-low yields to prevent a worse explosion in
deficits. The only true aspect of the flight into USTreasurys is that the
European sovereign bonds have turned toxic. But the Europeans are far more
likely to purchase German Bunds, and they have, driving their yields lower
than the USTBonds. Some arbitrage has pulled the two to almost equal,
evidence that IRSwaps are at work in the Bund backyard. The story will
come out soon enough, how the LIBOR rate was rigged extremely low in order to
facilitate management of the ultra-low 0% Fed Funds rate, and to enable the
IRSwaps to do their magic in keeping down the long-term USTBond yield.
The LIBOR has been and continues to be the feeder system for the IRSwaps that
enforce the 0% and 1.5% yields on FedFunds and TNX. The factor is mentioned
on financial networks with quick passing and no emphasis. They still sell the
flight to safety rubbish story.
FASCIST BUSINESS MODEL FLOURISHES
The
Fascist Business Model is not just showing its bitter fruit after the Bush II
Admin came to office in 2001. It is flourishing in a climax of failure. The
model does not simply permit financial crime. It encourages it. It promotes
it. It rewards it. The higher powers organize it and run it. The result is
not simply tolerated financial crime. It enables financial crime to flourish.
The USAttorney General office sits on its hands. The Commodity Futures
Trading Commission sits on its hands. The Securities & Exchange
Commission sits on its hands. The financial press ignores the crime, or
minimizes it, or explains it away. They all pay lipservice to enforcement of
regulations and securities fraud. The outcome is a mindnumbing episode of
financial fraud, theft, and collusion that the nation has never witnessed in
its entire history. The outcome is an extreme strangle of the nation around
its financial neck. In Jackass writings over the last several year, the word
'corruption' has appeared many times in almost every public article. That is
because corruption appeared in every direction the trained eye was cast. For
some articles, the word appeared over 20 times, and deservedly. My attention
to corruption is steadfast and consistent. Corruption is Wall Street's
calling card. It will bear the epitaph of the nation.
The
Fascist Business Model practices brought the nation the Too Big To Fail
rationale that permitted insolvency and corruption from syndicate
strongholds. Worse, the practiced model has brought the United States as a
nation to the doorstep of systemic failure. The ripening LIBOR scandal is
an extension of the MFGlobal theft and a close cousin to the deep JPMorgan
losses. The entire US and London financial structure is collapsing. Instead
of perceiving the European sovereign bond problem as having a related plague
in the US and UK, the arrogant bankers preferred to conduct business as usual
with IRSwap props of the fake USTBond tower. They preferred to rig the LIBOR
channel that feeds the derivative pool, which include the all-important
IRSwaps for maintaining the 0% artificial world. They preferred to point to
the United States as different. It is not different. It is rotten from the
inside due to 0%, whereas Southern Europe is rotten from the outside,
manifested by the 7% alarm level.
The
following stories, themes, and factors all serve as symptoms of corruption
and failure. The failure is in part a result of the corruption. The
corruption is intertwined with grotesque inefficiency, since the best in
class do not prevail. The corruption sidetracks capitalism to reward the
corrupt while inhibiting the successful and efficient. The most connected
and thus corrupt not only prevail, but they rule. The following stories,
themes, and factors are the handiwork of the US and London banker elite. The
list is long but in no way complete, as the criminal activity is laced
throughout the entire system. They will someday appear on indictment lists.
To date the court rulings have almost all featured non-admission of guilt or
any culpability, only details on settlement for the charges to go away. That
greases the civil lawsuits away from continued awards. Regard such deals as
fascist justice, more queer fruit. The decay of the nation is best seen not
in economic output but in ethics. To be sure, the USEconomy is mired in a
powerful recession that has extended for almost five years. The true
protection from the systemic criminality is obtained and secured by owning
precious metals, best in bullion bars and coins.
NAKED SHORTS ON PRECIOUS METALS
For two
decades the bank cartel has been selling Gold & Silver futures contracts
without collateral. They are exempted from regulatory action and prosecution,
as part of some absurd position in national security. The practice covers the
USGovt gold treasure, long gone, gutted, pilfered. On February 29th of this
year, JPMorgan alone sold a full year of global silver mine output in a
single hour. This is obscene. Compared to several years ago, the Big Four US
banks have twice as big naked short contract position for precious metals.
Refer to JPMorgan Chase, Citigroup, Bank of America, and Goldman Sachs. They
all have pretty logos. They are not making America stronger. They are
extending the criminal financial structures and their lifespan, giving room
for zombies to roam. They enable a fiat USDollar currency to continue longer,
despite the absent faith and trust no longer held in it globally. A parallel
takes place, like with the Alpha Group for naked shorting Canadian mining
stocks through their handy outlet Canaccord. If individuals attempted to
naked short any futures contracts, they would be prosecuted and tossed in
prison, their assets confiscated. The criminality is vast. The true
protection from toxic paper contracts and paper certificates is obtained and
secured by owning physical precious metals, never in paper form of any kind.
Best in bullion bars and coins.
QUANTITATIVE EASING & OPERATION
TWIST
The
magnitude of bond purchase is astronomical, best described as Weimar-like.
The printing of USDollars on electronic devices for the purpose of buying
USTreasury Bonds that the world no longer demands in order to cover the
gargantuan USGovt debts is out of control. The entire process is obscene and
loaded with deception. The public and investment community is told repeatedly
of a flight to quality and safety. There is neither quality in a Weimar rag known
as the USTBond, nor safety in a junk bond with $1.5 trillion in annual
deficits put to securities each year. The USFed does not have in its charter
any feature to purchase 70% of the total sale of USTBonds in 2011, for
instance. Operation Twist is a grand lie, a deception to cover the
monetization of all 30-year USTBonds ever issued. It is a deception to enable
foreign creditors to dump unwanted long maturity USTBonds, in favor of very
short-term USTBills. The foreign creditors are eager to let the clock run out
and have these bonds mature. Think exit. If corporations were to issue bonds
without the demand of buyers, and float them in the market like a huge
tributary from a toxic river, they would be prosecuted and their executives
tossed in prison. The criminality is vast. The true protection from the hyper
monetary inflation is obtained and secured by owning precious metals, best in
bullion bars and coins.
MORTGAGE MARKET LAWSUITS &
OBSCENITIES
The
entire housing bubble was made possible by broad and deep corruption of every
conceivable process within mortgage finance. People were approved to purchase
homes without verified income. Home loans were approved without down payment.
Homes were approved for sale without proper appraisal. Interest rates assigned
to loans were often linked to corrupted LIBOR rates. The Wall Street banks
shoved the income stream from a given mortgage into multiple securitized
bonds. They covered their tracks with the MERS title database, intended to
facilitate the frequent sale of property and more importantly the bonds tied
to their income streams. The MERS lacked legal standing though, and their
entire process was fraudulent. The court cases in several states discarded
bank claims on foreclosure, with rulings that a database could not hold a
property title. Why anybody pays a monthly mortgage anymore remains a
mystery. It could be associated with a Pavlov response to flipping the
calendar to a new month.
The
climax for the obscene mortgage market practices came with the openly publicized
robotic signature process on documents to foreclose and evict homeowners from
their homes. The process went so far as to evict with sheriff assistance some
people who owned their homes free and clear, the loans fully paid. The insult
to the nation was foreclosure and eviction of standing military soldiers in
service for the syndicate and oil companies. The docket for investor lawsuits
for lax and nonexistent loan underwriting, followed by misrepresentation of
bonds for sale, is hardly complete. If small companies committed the same
contract fraud, they would be prosecuted and their executives tossed in
prison. The criminality is vast. The true protection from the fraudridden
bond parade and obscene wreckage of home equity (lost American Dream) is obtained
and secured by owning precious metals, best in bullion bars and coins.
T.A.R.P. FUNDS
The TARP
Funds chapter will go down in US history as the biggest open visible scam
perpetrated in public view. No close second. The big banks appealed for
USGovt aid in order to keep their credit engines humming, to prevent a lockup
in lending, to save the USEconomy, a noble gesture. Instead, they bought
corporate preferred stock and handed out gigantic bonuses to the architects
of the housing and mortgage finance bubble & bust. They did so without
shame, in your face. The $700 billion might have served as effective
smokescreen, since the USFed was very busy behind the scenes. The USGovt
should have demanded clawback on the entirety of the ill-gotten funds. But
the USGovt financial squad is run by the big US banks. Refer to the Fascist
Business Model and its expansive bitter fruit. Also in the background was a
nifty grant of $138 billion to JPMorgan on a Saturday morning session in
Manhattan by a bankruptcy court, supposedly to replenish funds for private
accounts assumed in a merger. It was more like a JPM reload for intervening
in the gold and currency markets. If ordinary companies committed the same
fiduciary violation for misuse of borrowed funds, they would be prosecuted
and their executives tossed in prison. The criminality is vast. The true
protection from the slush fund river is obtained and secured by owning
precious metals, best in bullion bars and coins.
USFED $23 TRILLION GRANTS
While the
nation was deeply entranced by the financial system breakdown marred by the
Lehman Brothers killjob, the USFed was busy dispensing near 0% loans in $16
trillion volume to big banks across the world, but primarily in New York and
London. It was like a Who's Who list, or more accurately owners of the USFed
itself and their best friends. Disclosure forced by the USCongress resulted
in mere observation of receipts long after the fact. The barn door once again
was closed briefly after the horses were let loose for new owner capture. A
repeat episode occurred only a year later, as another $7 trillion was
dispensed to a similar gang. Al Capone himself would be proud of such
patterned behavior. The United States is the only industrial nation that does
not possess its own central bank. The nation is a colony for rape and pillage
by trillionaire castle dwellers. If regional banks committed the same
reckless loans as favors to Board members and friends, they would be
prosecuted and their executives tossed in prison. The criminality is vast.
The true protection from the slush fund river is obtained and secured by
owning precious metals, best in bullion bars and coins.
PILFERING FANNIE MAE & FREDDIE
MAC
The
raids, counterfeit, and other grand larceny of the OFHEO agencies is
legendary. The Sopranos showed the modus operandi. Obtain a phony appraisal
of a rotten property. Lock in the loan. Buy the property for a fraction of
the loan amount. Then make no payments and abscond with the loaned funds.
Easy as pie. The Papa Bush Admin and Clinton Admin went one further. They
simply stole from the Fannie Mae cash register and snagged a mountain of
counterfeit bonds with Fannie Mae markings, to the tune of $1.5 trillion, or
$1500 billion for the math challenged. The audits conducted by Catherine Austin
Fitts stand on the record in verifying the volume in theft. The funds are
devoted to private accounts and to black bag operations by the agencies.
After all, they must keep America safe and strong. When China began to sell
in earnest from their vast supply of Fannie bonds in 2007 and 2008, the
USGovt had to take action. So they nationalized the toxic cesspool. Their
action served to conceal the criminality and to prevent an audit. Leadership
has become privilege and license for theft. The Fannie stock shares went to
zero, exactly as the Jackass forecasted in 2006 and 2007. If other financial
firms committed the same embezzlement of funds and engaged in counterfeit
activity, they would be prosecuted and their executives tossed in prison. The
criminality is vast. The true protection from the toxic cesspool under USGovt
aegis is obtained and secured by owning precious metals, best in bullion bars
and coins.
LOOTING FORT KNOX
The
Clinton & Rubin Admin had a mission. They pulled it off well. The
experienced savvy Robert Rubin moved from the London Gold Desk at Goldman
Suchs to take control of the USDept Treasury. His first act and deed was to
mark the gold lease rate at near 0%, and thus to embark on the Gold Carry
Trade. The big winners would the privileged Wall Street banks with access to
leased USGovt gold held in Fort Knox. Their ill-gotten gains must have
totaled at least $2 trillion from leveraged shorts in the gold futures
market. Couple the counter-trade in rising USTBonds, also with leverage
applied, and the gains must have totaled at least $7 trillion. Pretty
handsome profit for the Syndicate during an eight-year span. They called it
the Decade of Prosperity. But it rendered the United States as a nation a
sure bet for systemic failure in a decade's time from hollowed out insolvency
and ruin. Like now. The Jackass prefers to call it the Decade of Stolen
Prosperity. Moronic political observers long for the good ole days of Clinton
and all that prosperity, without realizing the pilferage of the entire Fort Knox,
the Gold Carry Trade, or anything sordid in nature. They are naive fools.
A
colleague has a personal friend in charge of security at Fort Knox. He
reports they stand guard over Fort Knox alright, but it contains a vast
inventory of nerve gas cannisters, and zero gold. The US as a nation has
no collateral to back its USDollar currency. The US bank officials refuse to
conduct an audit of the gold. The insiders declare that an audit would give
emphasis to its importance and value. The laughter is raucous when reading
the Office for the Comptroller to the Currency reports, when the ledger item
of Deep Storage Gold is read. It is merely unmined ore in Western mountain
deposits. The USGovt is in posssession of zero gold. If individuals in other
nations were to make off with the national gold treasure, they would be
prosecuted for treason and theft, then given a public hanging. The
criminality is vast. The true protection from absent collateral to the
USDollar is obtained and secured by owning precious metals, best in bullion
bars and coins.
PHONY BANK ACCOUNTING
In April
2009, a critical event occurred. The Financial Accounting Standards Board in
charge of setting accounting rules declared that the big US banks would be
permitted to set any value they chose for their wrecked balance sheets. The
prominent insolvent gang of banks teetering in ruins could set as they wished
book value or original value for balance sheet items, when zero was the more
accurate valuation. The defense of the Too Big To Fail mantra began. The
excuse of challenges to find credit worthy borrowers hit the scene. That was
a lie, since strong borrowers were routinely refused loans. The credit
engines for the USEconomy had been wrecked, no longer functioning. Actually,
the credit benefit had turned negative, evidence of slippage within the
system. The obscenity continues with a charade of Credit Value Adjustments
and raids to Loan Loss Reserves every quarter earnings report. Without such
malfeasance to accounting, the big US banks would regularly show deep
quarterly losses. Even the financial press objects, calling the earnings
tainted. If ordinary corporations were to engage in such accounting fraud,
they would be prosecuted and their executives tossed in prison. The
criminality is vast. The true protection from fraudulent accounting and vast
fiduciary violations is obtained and secured by owning precious metals, best
in bullion bars and coins.
FLASH TRADING & UNIX BOX
In 2010,
a nasty event struck with revelation of computers gone amok on the New York
Stock Exchange. The deep decline on a single day demonstrated the absence of
indigenous investors in a land overrun by computers. The details came out
slowly. The NYSE volume had been at least 80% computer trades routinely. The
big Wall Street firms were selling to each other, running up the stock prices
in a levitation fraud process. It was an orchestrated internal Ponzi
exercise. Yet the plum story was the Goldman Suchs internal unix box that
caught a peek at the order flow, placed orders in front of the flow, and
ripped small profits on millions of trades. When the unix box and software
was captured by a Russian fellow in order to expose the syndicate, he was
branded a criminal. The FBI rushed to arrest him at the airport. Rumors
swirled that the software was being sold on the black market. He was quietly
taken care of. The entire episode was contained. Goldman Suchs was never
prosecuted, even protected by the vast USGovt army. The integrity of the New
York Stock Exchange was kept at the same corrupt level. Activity resumed. If
ordinary investors were to engage in such criminal insider devices, they
would be prosecuted and tossed in prison. The criminality is vast. The true
protection from rigged and violated markets is obtained and secured by owning
precious metals, best in bullion bars and coins.
AUCTION MUNI BONDS
Two years
ago, a rigged falsified auction market was revealed. The items sold were
typically municipal bonds. It was another corrupted market in a parade of
corrupted markets, organized and led by the same cast of Wall Street
characters. Lawsuits were settled. Settlements were cut. No admission of
guilt was made. The game might have been shut down, unclear. If ordinary
market makers were to engage in such criminal pricing activities, they would
be prosecuted and their executives tossed in prison. The criminality is vast.
The true protection from rigged and violated markets is obtained and secured
by owning precious metals, best in bullion bars and coins.
INFLUENCE ON USCONGRESS
The big
US banks have kept the scam going. They control the USDept Treasury through
their Goldman Suchs conduit and headhunter passageway. They engage in lofty
campaign donations to Congressional members. The list of donations is on the
public record. To date, the Obama campaign and the Romney campaign have each
received over $300 million from the banker lobby. These criminals have
covered both red and blue on the political roulette wheel of bets. The irony
is that one might consider the TARP Funds themselves as the slush fund for
such political donations. The wheel of political influence turns. As
H.L.Mencken said a century ago, the USCongress is the best that money can
buy. The influence enables Wall Street banks to write legislation for its own
reform. To be sure, compromises were made, like to split off proprietary
trading but with fuzzy rules. The asterisk is the audit of the USFed itself.
The devotion to the bankers was seen in June when JPMorgan CEO Jamie Dimon
visited the Finance Committe for soft lobs. An opportunity was lost. The
genuflection was obvious. The only tough questions came from two Senators who
receive nothing from the banker lobby. All but those two kissed Dimon's ring.
The unflappable CEO appeared to holding court before his minions. If ordinary
individuals were to be confronted for their reckless and criminal activities,
they would be subjected to a harsh line of questioning and possible
prosecution. The criminality is vast. The true protection from compromised
politicians is obtained and secured by owning precious metals, best in
bullion bars and coins.
ROLE PROGRAMS LIKE MADOFF FUND
One of
the biggest shocks to the Jackass in recent years was the revelation by a
deep banker source of the so-called Role Programs. Many were described, all
managed by the USDept Treasury and the Bank of England, its master. The
volume of criminal fraud and scams is in the hundreds of $billions. One such
scheme was the Madoff Fund thefts. The public was told repeatedly that Madoff
made off with $50 billion in funds, with many victims left in the lurch. The
true figure was $160 billion in stolen funds. The search was on to locate the
funds, when the officials knew exactly where the funds were safely located
and stored. Yet another charade, much like searching for the MFGlobal funds,
all safely kept in JPMorgan London accounts. The Madoff funds were located in
Switzerland for safe keeping. The banks involved all had one national trait
in common, from a small nation on the Southern Mediterranean that looked
northwest to Italy across the sea. The banks were all protected by some very
strange laws in Switzerland that forbid investigation of fraud. Many other
role programs continue to this day, details not to be provided here. Some
nations have outstanding arrest warrants for US bank leaders, who travel only
to England and Switzerland with confidence. If ordinary managed funds were to
be scrutinized for criminal activities, they would be prosecuted and their
executives tossed in to prison. The criminality is vast. The true protection
from profound high level fraudulent schemes is obtained and secured by owning
precious metals, best in bullion bars and coins.
HIDDEN GREEK GOVT DEBT
Goldman
Suchs was the focus two years ago when the actual Greek Govt debt was
revealed to be greater than originally submitted for qualification entry into
the European Monetary Union. The Greek Govt falsified their club application
with collusion from GSuchs. The fraud was a big currency swap to conceal the
true level of their government debt. They were made to look healthier than
was actually the case. GSuchs has been given a pass, no prosecution in any
nation. Arthur Anderson was not given such benefit. In fact, the GSuchs crew
was invited to supply a lieutenant to lead Italy, no justice seen. Such
bonuses are typical even after criminal fraud is revealed for syndicate
titans. The wreckage of Greece is not yet complete, but far along. GSuchs had
a big hand, spreading their special cancer wherever they roam. Victims are
banks across Europe, London, and New York. More currency swaps are suspected
in other Southern European nation financial submissions. If ordinary
corporations were to engage in such accounting fraud, they would be
prosecuted and their executives tossed in prison. The criminality is vast.
The true protection from fraudulent accounting and vast fiduciary violations
at the highest level is obtained and secured by owning precious metals, best
in bullion bars and coins.
NARCO MONEY LAUNDERING
It is
fast becoming a well known fact, even common knowledge in the financial
industry. The big US banks are heavily dependent upon narcotics money
laundering from sale conducted by the protected USGovt agencies. The American
citizens seem the last to know. The details are dangerous to cite, surely not
privy to the Jackass. The United Nations drug task force first identified the
money laundering activity back in 2008 and 2009. Nothing has been done. In a
case from 2008, Wachovia was found guilty of money laundering for narcotics
activity in Mexico. The outcome was a veritable farce. The settlement
involved a fine equal to 3/100ths of a penny per dollar processed. They could
have at least forced a dime for dollar in the money laundering. The US press
emphasized the fine paid and minimized the volume processed. The big US banks
are all involved in such money laundering. They are big, broken, insolvent,
and wrecked. They are as hollow from the criminal activity of bond fraud,
accounting fraud, and laundering activity, as a cocaine addict is hollowed
from the internal organs and rotten teeth. If ordinary corporations were to
engage in such money laundering, they would be prosecuted and their
executives tossed in prison. The criminality is vast. The true protection
from organized crime is obtained and secured by owning precious metals, best
in bullion bars and coins.
IRAQ & IRAN SHUN OF USDOLLAR
The 2003
charade was given focus on weapons of mass destruction posssessed by Iraq. A
war was waged. A hefty supply of gold bullion bars was stolen from Baghdad at
their central bank. The amount was not reported or learned. The charade went
so far as to show video clips of snagged yellow bars, not gold, but wooden
bars painted yellow. Quite the production to cover the theft of a national
gold treasure. It belonged to the Iraqi people, not Saddam Hussein. A similar
charade has been playing for the last several months over Iran. The public is
told of a Iran nuclear weapons factory threat. The story is old and stale,
having been recited to a foolish audience for a few years running. The
weapons of mass destruction did not exist in Iraq. The WMD story was a
cover for cause in war, to cover the fact that Saddam had been selling crude
oil in Euros. The key fact was sale outside the USDollar. The USGovt
reacted by protecting its sacred Petro-Dollar. The parallel to today is clear
for the enlightened, who are few in number. The Iran threat is not nuclear,
not of weapons of mass destruction. The common architect for the phony story
is that small nation on the Southern Mediterranean. Keep it vague in
identification. The parallel violation by Iran is selling crude oil
outside the USDollar. The American and European public are being for
fools again. Iran is accepting gold or trade credits in swap deals. This is a
banker sham on the highest stage, putting the world at risk of a dangerous
war. The extension to SWIFT bank codes used as a weapon shows the banker hand
of involvement. Misrepresentation for war cause is not a crime, but it is a
travesty nonetheless. It leads to lost credibility for international leading
nations, like the United States and Great Britain. The betrayal of trust is
vast. The true protection from unscrupulous brinkmanship is obtained and
secured by owning precious metals, best in bullion bars and coins.
MOTIVE FOR LIBERATING LIBYA
To be
sure, Muammar Qaddafi was an evil man, a psychotic man, and a thief to his
own people. Liberation of the Libyan nation was a good deed. But the hidden
motive has been revealed. The London and Western European banks hold 144 tons
of Libyan gold. It has not been returned. It is too desperately needed.
Conditions for its return to a legitimate Libyan Govt have been laid out. Do
not expect them ever to be satisfied, in the eyes of the banks holding the
gold tonnage. The actual events told of NATO armies working toward thel
liberation might or might not be true. It makes one wonder if Syria owns any
gold. Misrepresentation for war cause is not a crime, but it is a travesty
nonetheless. It leads to lost credibility for international leading nations,
like those holding the Libyan gold treasure. The betrayal of trust is vast.
The true protection from unscrupulous brinkmanship is obtained and secured by
owning precious metals, best in bullion bars and coins.
MISSING IRAQ FUNDS
In 2006
and 2007, a big story circulated about missing Iraqi Reconstruction Funds.
The diminutive leader Bush Jr declared that $50 billion in missing funds was
acceptable in the grand scheme of things, called ordinary leakage. It is not
clear what grand scheme he referred to. Perhaps the grand scheme of big US
bank and big US defense contractor fraud. The overcharging cases for
Halliburton violations are like a mosaic on a billboard for all to see. They
have regularly been deemed as minor in scope, not worthy of prosecution. They
have usually be settled with small fines, a mere fraction of the fraud
involved. But the missing funds continue to this day. It is in the Jackass
opinion that one of the primary motives to continue to endless wars is to
perpetuate the frauds and stolen funds. The guardians are nowhere. The
enforcement is imaginary. The thefts are encouraged and permitted. If
ordinary corporations were to engage in such fraud and thefts, they would be
prosecuted and their executives tossed in prison. The criminality is vast.
The true protection from pillbox raids is obtained and secured by owning
precious metals, best in bullion bars and coins.
ALLOCATED GOLD ACCOUNTS
The
revelation of banker criminality has only begun. The culmination in the
opinion of my best banker source is come before too many more months.
Attention focuses now on the LIBOR price rig scandal. It will extend to the
USTBond and Interest Rate Swap artificial props. It will extend in a
climax event for exposure that Allocated Gold accounts across the Western
world have been confiscated, sold, and replaced with shabby paper gold
certificates illegally. Numerous class action lawsuits are in progress in
Switzerland, kept out of the news. They total several $billion in combined
size. However, the account raid practice has been widespread in Europe,
London, and United States. The scope of the seized and raided Allocated gold
accounts is enormous. This will be the biggest banker scandal in modern
history. The scope involves at least 20 thousand tons of missing gold, and
possibly as much as 40 thousand tons missing. The lid will blow off the
concealed story before long. The news networks in Switzerland have been
dutiful in keeping the story quiet. Not for much longer. It is not the only
nation involved, no way. Big important influential wealthy people have been
victimized. They will seek justice and demand an open court. All in time.
When that happens, the price of gold will double in a matter of months. The
big banks that have criminally raided the Allocated accounts will be forced
to retrieve and purchase the gold on the open market. Many complicit banks
will simply collapse, since already insolvent. Some bank executives will face
prosecution. Perhaps a few will go missing, like the gold bars. The story and
its publicity of semi-stolen gold will bring much needed attention to gold as
real money.
911 BANK HEIST
As the
years pass, the evidence mounts. The AE1000 organization is expert and loud,
the architects and engineers who provide expert testimony on the absurd
official 911 story at the World be-Trade Tower. This is hardly the forum for
such recitals. A secretive Russian Bond valued at $240 billion was to mature
the very next day, most of which were held in the Cantor Fitzgerald offices
atop the tower. Those bonds could not be redeemed at maturity, a theft.
Nothing on the official story makes any sense, nor does it stand up to
chemical scrutiny or to scrutiny from phsyics. Costa Rica has a richly dotted
landscape of very well informed people with all kinds of legitimate contacts,
such from Secret Service friends, bank executive friends, ex-USMilitary
types, slush fund managers, obscure types, and more. My informed sources have
been numerous that have shed light on the infamous event. It was a grand bank
heist that involved perhaps around $100 billion in stolen bearer bonds,
perhaps around $100 billion in stolen gold bullion bars, and perhaps around
$100 billion in stolen diamonds. The 911 event marked in the opinion of many
observers a coup d'etat of the United States Govt. Their grip on power
continues through to today. The true story will come out, all in time, like
veracity bubbles working toward the surface. Those holding the lid on the
actual events are reducing in number each year. My expectation is that the
true story will come out as the inevitability of a USGovt debt default
becomes evident and unavoidable, when the JPMorgan machinery fails in full
view to uphold the USTBond tower. At that time, the new trade settlement
systems, the new barter systems, the bypass to USDollar settlement, they will
come into place. Gold will be at the center of every new system. Much like
how geophysics leads to iron forming at the core of a stable body, gold will
form at the core of the stable financial body. But its price will be closer
to $10,000 per ounce than $2000 per ounce. Gold price charts mean little,
when the enter paper system is in the process of imploding, first bonds, then
currencies, then sham gold markets.
Jim Willie CB is a statistical analyst in marketing
research and retail forecasting. He holds a PhD in Statistics. His career has
stretched over 25 years. He aspires to thrive in the financial editor world,
unencumbered by the limitations of economic credentials. Visit his free
website to find articles from topflight authors at www.GoldenJackass.com. For personal
questions about subscriptions, contact him at JimWillieCB@aol.com
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