Infinite Unknown

- JPMorgan Parts With Another 21,000 Ounces Of Gold, Holdings Drop To New Record Low (ZeroHedge, June 5, 2013):

Those tens of thousands of outstanding delivery requests against JPM are finally starting to make their way through the pipeline: following the withdrawal of 28,380 ounces of gold after nearly one month of radiosilence out of the vault located below 1 CMP, today the CME reported that another 21k troy ounces of eligible gold were withdrawn from the bank (coupled with the reallocation of another 8.8K registered into eligible), taking the total to a fresh record low of 767,752 ounces.

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Tags: Banking, Economy, Global News, Gold, JPMorgan

- Another Oligarch Wrist Slap: Citigroup Settles in Secret on Housing Fraud Charges (Liberty Blitzkrieg, May 31, 2013):

Guess what just happened?  In case you forgot, the Federal Housing Finance Agency (FHFA) had previously accused Citigroup of violating securities laws and making misrepresentations of billions of mortgage bonds.  Unsurprisingly, Citigroup settled, which is just a euphemism for an “oligarch wrist slap.” What’s really disturbing is that the settlement amount will remain a secret, which takes cronyism to yet another despicable level.  After all, take a look at the man who runs the Treasury Department.

From Bloomberg:

The conservator for Fannie Mae and Freddie Mac was eager for publicity in September 2011 when it sued 17 financial institutions, accusing them of ripping off the two government-backed housing financiers. It isn’t so enthusiastic anymore.

This week the U.S. Federal Housing Finance Agency told a federal judge it had settled its case against Citigroup Inc. The agency won’t say how much money Citigroup is paying. Neither will Citigroup, which survived the financial crisis only because it got multiple taxpayer bailouts. The parties agreed to keep the terms confidential. The government has decided this is none of the public’s business.

The agency had accused Citigroup of violating securities laws and making misrepresentations about $3.5 billion of mortgage bonds that it sold to Fannie and Freddie during the housing bubble, before they were seized by the government. This is the second such lawsuit to be resolved so far. In January, the agency dropped its suit against General Electric Co. after reaching a deal over mortgage bonds sold to Freddie Mac. In that case, too, the terms weren’t disclosed.

This should make every American’s blood boil. The government is devoting taxpayer resources to pursue these claims in court. The public is entitled to know the results. It’s that simple.

Continue reading »

Tags: Banking, Barack Obama, Citigroup, Fraud, Global News, Government, Obama administration, U.S.

- The Scorecard: 8,000 Wall Street Protesters Arrested, Zero Bankers (Liberty Blitzkrieg, May 28, 2013):

America really has become the “land of the thief, home of the slave.”  While a minority of awake citizens desperately tries to shake their neighbors from their deep slumber, the masses continue to sit in front of the television, suck their thumbs and watch Desperate Housewives, while the oligarchs laugh incredulously at them all the way to the bank.

We all know that Attorney General Eric Holder couldn’t find a guilty banker if it came up to him and sat on his lap, but these statistics are pretty amazing and a testament to how apathetic and lost of a culture we have become.  This database of all the Occupy protestors arrested and where it happened is pretty cool.

From the Huffington Post:

Here’s a fact that may make your blood boil: Nearly 8,000 Occupy Wall Street protesters have been arrested in association with the activist movement, while not one banker has been prosecuted for the actions that lead up to the country’s financial meltdown.

Continue reading »

Tags: Banking, Economy, Global News, Government, Politics, Society, U.S., Wall Street

What can you say?

- Homes See Biggest Price Gain in Years, Propelling Stocks (New York Times, May 28, 2013):

Americans are in a buying mood, thanks largely to the housing recovery.

The latest sign emerged Tuesday as the Standard & Poor’s Case-Shiller home price index posted the biggest gains in seven years. Housing prices rose in every one of the 20 cities tracked, continuing a trend that began three months ago. Similar strength has appeared in new and existing home sales and in building permits, as rising home prices are encouraging construction firms to accelerate building and hiring.

The broad-based housing improvements appear to be buoying consumer confidence and spending, countering fears earlier this year that many consumers would pull back in response to government austerity measures.

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- Keeping The ‘Recovery’ Dream Alive; 3 Big Banks Halt Foreclosures In May (ZeroHedge, May 28, 2013):

What is the only thing better than Foreclosure Stuffing to provide an artificial supply-side subsidy to the housing market? How about completely clogging the foreclosure pipeline, by halting all foreclosure sales, which is just what the three TBTF megabanks: Wells Fargo, JPMorgan and Citi have done in recent weeks. Under the guise of ‘ensuring late-stage foreclosure procedures were in accordance with guidelines’, the LA Times reports that these three banks paused sales on May 6th and all but halted foreclosures. Perfectly organic housing recovery – as we noted earlier… and guess what states the greatest number of ‘halts’ are in from these banks – California, Nevada, Arizona – exactly where the surges in price have occurred.

Via The LA Times,

Sales of homes in foreclosure by Wells Fargo & Co., JPMorgan Chase & Co. and Citigroup Inc. ground nearly to a halt after regulators revised their orders on treatment of troubled borrowers during the 60 days before they lose their homes. Continue reading »

Tags: Banking, Bubble, Citigroup, Collapse, Economy, Foreclosures, Global News, JPMorgan, Real Estate, Society, U.S., Wells Fargo

www.libertyreserve.com:

- Online Currency Exchange Accused of Laundering $6 Billion (New York Times, May 28, 2013):

The operators of a global currency exchange ran a $6 billion money-laundering operation online, a central hub for criminals trafficking in everything from stolen identities to child pornography, federal prosecutors in New York said on Tuesday.

The currency exchange, Liberty Reserve, operated beyond the traditional confines of United States and international banking regulations in what prosecutors called a shadowy netherworld of cyberfinance. It traded in virtual currency and provided the kind of anonymous and easily accessible banking infrastructure increasingly sought by criminal networks, law enforcement officials said.

Continue reading »

Tags: Banking, Crime, Economy, Global News, Government, Internet, Liberty Reserve, Politics, Porn, Society, U.S.

- The Rout In Spain (ZeroHedge, May 24, 2013):

From Mark Grant, author of Out Of The BoxThere Are Those Weeks

The Rout in Spain

Overnight the shares of Bankia plunged 51.4%. This, by any definition, is a rout. The citizens of Spain had bought preferred shares, hybrid bonds on the basis of an “implied guarantee” from the sovereign. No such luck. It had been a tout sold by the bank and guaranteed by no one. Now the owners are suffering the disastrous consequences.

Many European analysts had suggested that the swap out of these instruments into equity would drop the price of the stock to about 1.35 Euros but reality emerged today as the equity price plunged to 0.68 Euros. The shares traded today were forty-two times the normal average trading volume and indicated the size of the problem. The stock has lost 90% of its value since May 6.

Continue reading »

Tags: Bankia, Banking, Collapse, Economy, EU, Europe, Global News, Spain, Stock Market

- Europe Opens $80 Trillion Shadow Banking Pandora’s Box: Will Seek To Collapse Repo “Collateral Chains” (ZeroHedge, May 24, 2013):

In what may be the most important story of the day, or maybe year, for a world in which there already is an $11 trillion shortfall in high-quality collateral (and declining every day courtesy of Ben’s monetization of Treasury paper) so needed to support the deposit-free liability structures of the shadow banking system (as most recently explained here), Bloomberg has just reported that Europe may begin a crackdown on that most important credit money conduit: the $80 trillion+ global shadow banking system, by effectively collapsing collateral chains, and by making wanton asset rehypothecation a thing of the past, permitted only with express prior permission, which obviously will never come: who in their right mind would allow a bank to repledge an asset which may be lost as part of the counterparty carnage should said bank pull a Lehman. The result of this, should it be taken to completion, would be pervasive liquidations as countless collateral chain margin calls spread, counterparty risk soars all over again, and as the scramble to obtain the true underlying assets finally begins.

From Bloomberg:

Banks and brokers face a clampdown on using assets they hold for clients as collateral for their own trades as part of European Union moves to bolster market stability and rein in shadow banking.

Continue reading »

Tags: Banking, Collapse, Economy, Europe, Global News, Shadow Banking, Shadow Banking System

- Thanks To QE Bernanke Has Injected Foreign Banks With Over $1 Trillion In Cash For First Time Ever (ZeroHedge, May 21, 2013)

Tags: Banking, Ben Bernanke, Economy, Fed, Federal Reserve, U.S.

- 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)

Tags: Banking, Fed, Federal Reserve, Freemasonry, Global News, Government, JPMorgan, Politics, Rothschild, Society, U.S.

- How A Criminal Syndicate Of Banks Is Raping The Gold Market (King World News, May 15, 2013):

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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.”

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Tags: Banking, Economy, Global News, Gold, Silver, William Kaye