- The Federal Reserve Cartel: Part I: The Eight Families (Veterans Today, Dec 4, 2012)
- The Federal Reserve Cartel: Part II: The Freemason BUS & the House of Rothschild (Veterans Today, Dec 7, 2012)
- The Federal Reserve Cartel: Part IV: A Financial Parasite (Veterans Today, Dec 14, 2012)
- The Federal Reserve Cartel: Part V: The Solution (Veterans Today, Dec 17, 2012)
- How A Criminal Syndicate Of Banks Is Raping The Gold Market (King World News, May 15, 2013):
So this is a great business for the bankster banks. The same people who rigged LIBOR, I’m telling you are very obviously rigging the gold market. It’s so obvious that only the mainstream media would not be able to figure this out.”
Paul Craig Roberts was Assistant Secretary of the Treasury during President Reagan’s first term. He was Associate Editor of the Wall Street Journal. He has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University, and Senior Research Fellow, Hoover Institution, Stanford University.
- Gangster State America — Paul Craig Roberts (Paul Craig Roberts, May 13, 2013):
There are many signs of gangster state America. One is the collusion between federal authorities and banksters in a criminal conspiracy to rig the markets for gold and silver.
My explanation that the sudden appearance of an unprecedented 400 ton short sale of gold on the COMEX in April was a manipulation designed to protect the dollar from the Federal Reserve’s quantitative easing policy has found acceptance among gold investors and hedge fund managers.
The sale was a naked short. The seller had no gold to sell. COMEX reported having gold only equal to about half of the short sale in its vaults, and not all of that was available for delivery. No one but the Federal Reserve could have placed such an order, and the order came from one of the Fed’s bullion banks, one of the entities “too big to fail.”
Bill Kaye of the Greater Asian Hedge Fund in Hong Kong and Dave Kranzler of Golden Returns Capital have filled in the details of how the manipulation worked. Being sophisticated investors of many years of experience, both Kaye and Kranzler understand that the financial press runs with the authorized story planted to serve the agenda that has been put into play.
- Elizabeth Warren Confronts Eric Holder, Ben Bernanke and Mary Jo White on Bankster Immunity (Liberty Blitzkrieg, May 15, 2013):
Elizabeth Warren is one of the few Senators out there pushing to understand why the federal government has created an untouchable class of criminals in America that can do whatever they want whenever they want and, not only get away with it, but also get bailed out when they make mistakes. In case you missed it, I highlighted a powerful video a few months ago in which she made regulators squirm when confronted on “too big to jail.” Now she has written a letter to Ben Bernanke, Eric Holder and Mary Jo White. My favorite line is:
“If large financial institutions can break the law and accumulate millions in profits and, if they get caught, settle by paying out of those profits, they do not have much incentive to follow the law.”
Indeed, which is why they don’t. Full letter embedded below.
- “And the award for the most creative excuse for joining currency wars goes to…” (Lighthouse Investment Management, May 13, 2013):
… the Bank of Israel!
- On Monday, Bank of Israel cut interest rates in a surprise decision to 1.5% from 1.75%.
- Also, they are done with watching the Shekel strengthen against the dollar:
“Beginning this year, and in coming years, the Bank of Israel will purchase foreign exchange in order to offset the effect of natural gas production on the exchange rate.”
- Hilarious! The BoI tries to ‘justify’ entering the global currency wars with natural gas production. A top contender in Central Banking Oscar’s for “Most creative excuse for FX manipulation”!
- The Q&A brought up a critical question (not the kind of soft balls lobbed at ECB and the Fed by corrupt and incompetent journo’s): Continue reading »
- Denver Public Schools Pay $216 Million to Wall Street Banks to Unwind Swaps (Liberty Blitzkrieg, May 12, 2013):
You can move from New York City to Colorado, but it seems you can never escape the all encompassing tentacles of Wall Street parasitism and theft. I recently covered a similar situation back in March in my piece Wall Street: $474 Million, Detroit: 0. In both cases it seems clear that public officials had no idea what they were getting into and there was a great deal of irresponsibility, but that is beside the point. It’d be one thing to say these communities should suffer the consequences of their actions if Wall Street had to as well, but we all know that isn’t the case. So it is highly immoral and culturally destructive to say it’s ok that Wall Street gets bailed out from all their mistakes and then is able to turn around and impose austerity on everyone else. That’s the way America works today and we can thank Ben Bernanke and Barack Obama for that reality. We must never forget the enablers in chief of all of this. Oh, and did I mention that the $216 million paid by Denver represents two-thirds of annual teaching expenses? USA! USA!
Wall Street banks collected $215.6 million that Denver’s public schools paid to unwind swaps and sell bonds since the district began borrowing to cut pension costs in 2008. That sum is about two-thirds of annual teaching expenses.
The district paid $146.6 million last month to banks, including RBC Capital Markets LLC, Wells Fargo Securities LLC and Bank of America Corp., to end interest-rate swaps as part of a second attempt to restructure a 2008 borrowing, bond documents show. The April 17 deal sold as the district’s property-tax rate has risen 26 percent in two years to fund education.
Municipal borrowers from Detroit’s utilities to Harvard University in Cambridge, Massachusetts, have paid billions of dollars to banks to end privately negotiated interest-rate bets sold as hedges. The Federal Reserve’s policy of holding its benchmark borrowing rate near zero since 2008 has turned many of the swaps into wrong-way bets.
YouTube Added: 03.05.2013
- This Video Of One Half-Second Of High Frequency Trading Is Insane, Terrifying (Huffington Post, May 9, 2013):
You have no idea just how bonkers high-frequency trading is making the stock market until you actually see it in action.
A terrifying new video by the research firm Nanex offers just such an opportunity: It shows one half-second of trading in just one stock, boring old Johnson & Johnson, on May 2. The video slows down the trades so that the milliseconds — thousandths of a second — tick slowly by, and so that human eyes can comprehend what’s happening.
What you see is trading gone haywire, hopelessly beyond the control of any regulators that might want to make sure all of these trades are legitimate. This flood of trading confuses even other machines, creating mismatches in orders that high-speed traders can exploit, millisecond by millisecond.
“These guys are not stealing dollars, they’re stealing pennies,” says Nanex founder Eric Hunsader, who presented the video at a recent Wired conference. “It’s like paper cuts instead of first-degree murder.”
Nanex is the same firm that produced a viral animated GIF last year showing the rise of high-frequency trading robots over the years. This video offers the first clear look at what those robots are doing every day, all day, now that they control more than half of all market volume.
- Deutsche Bank: “We Fully Understand Why The Authorities Wouldn’t Want Free Markets To Operate Today” (ZeroHedge, May 9, 2013):
A brief stroke of brilliance from Deutsche Bank’s Jim Reid: Continue reading »