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GATA Chairman Murphy's appearance on Russia Today's 'Capital Account' posted at YouTube
Dear Friend of GATA and Gold (and Silver):
GATA Chairman Bill Murphy's appearance today on the Russia Today television network's "Capital Account" program, hosted by Lauren Lyster, has been posted at YouTube here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee
Inc.
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The camera man was actually a woman watch close
I mean for Christs sake..she is fine as frog hair AND she could probably out-rant me on Govt/Keynesian idiocy.
Lauren of Capital Account > Helen of Troy
Ol' Bill's eyes GLISTENED after saying "deep throat". A little double-entendre, oui?
or a double rear-entendre
that is an inuendo.
Yes, and her question was what industry is deep throat from. Duh.
For me, that's a great answer from her.
Y’all might want to review the Aug 7 show with Chris Powell.
And yes, Lauren makes it a challenge to concentrate on the content.
ttp://www.youtube.com/watch?v=T0jpso4jDC4
WHo the hell junked me??
The babe is downright gorgeous, sharp as nails, quick as a whip, smart as hell, and funny to boot!
Lauren, will you marry me?
Lennon.....whomever did is;
1) Dead
2) Really, really gay...and I mean, strictly dickly
3) Really short the market, and their tits are in the wringer so bad, they are mooing.....
TOTAL HUNNY!
Triggers?
Germany just had their second failed 10 yr. auction of the year where less than 4 billion Euros were bid for 5 billion Euros offered. This comes one day before the meetings to decide whether to "bail or not to bail" the less thrifty sovereigns in their processes of failing.
Interesting that the market has backed away from even the MOST pristine European credit leaving the German Treasury retaining over 1 Billion Euros of their own paper.
What does this say to you?
If it is decided that the bailouts will go forward, can Germany even sustain it's own borrowing needs? If they don't bailout their sun tanned southern brethren, how soon do they actually fail and how fast does the collapse spread?
Talk about a catch 22 inflection point!
Either ruin yourself financially or let your neighbors go broke and blight the entire neighborhood. I think you can pretty much bet that the printing presses will be put to work, either at the ECB or out in the back parking lot at the Federal Reserve. One way or the other, the deadbeats will be propped up but that is not where the fire is really raging.
We have smoke in the derivatives markets and counter parties are finally taking notice. It's been reported that JP Morgan is "reviewing" existing relationships in their clearing businesses, this has potentially devastating ramifications. If JP Morgan were to cut ties with a hypothetical broker or futures operation and you were doing business with this hypothetical company, what would you do?
Maybe cut your ties to isolate your own risk? In reality, any firms that JP Morgan cuts back or cuts off will be passed a death sentence!
The financial center of the universe (JPM) is noticing that "risk" is elevating, they cannot act to isolate themselves without pulling the entire systemic trigger. They have their own catch 22 just as Germany does. Do they cut various financial ties or not? In all probability, JPM, by cutting some ties will start a chain reaction that will directly impact them anyways!
They are short more Silver than even possibly exists to deliver. If you were short a "product" that you didn't have nor could possibly procure, would you possibly try to undermine your counter parties to either delay or cancel delivery? Would you "stop clearing" for a counter party who was long your short in the hopes that they fail? Would you maybe "insinuate" this action if it was thought that they might request delivery? If you knew that you were about to be exposed and knew that no more accounting tricks could work their magic anymore, would you pull the plug so that EVERYONE was exposed?
This is all hypothetical but not beyond the scope of possibility. The entire derivatives chain is so upside down, so inter tangled and completely hollow that somewhere "the plug" MUST be pulled just to cover "the dirties".
JP Morgan cannot cut relationships without killing any firm that they do so with.
If Morgan were to do this with even a handful of firms, they would trigger the game ending event to which they have so much played a role in creating.
While on the subject of brokers, Morgan Stanley has been rumored for the last couple of months to be a potential casualty. Their stock has had at best a dead cat bounce and is in fact still down over 80% from their pre crash highs and down 40% from where they were just 8 months ago. They were downgraded a few months back which surely ate up a bunch ($6 billion?) of their liquidity and are very big players in the derivative jungle. Please remember that if you have $ trillions in derivative exposure, if you are offsides only 2-3% you are talking HUGE amounts of capital and liquidity hits.
The above are simply 3 potential triggers, there are too many to list and all come from various different angles. A system that is on solid footing need not worry about "triggers". It has been years upon years since the global financial system had a "solid footing". Something will be blamed for upsetting the entire system. What it will be has too many options to even venture a guess at this point. Just know that "muddling through" is no longer an option and only a fool "hopes" that the mathematically assured won't happen.
www.lemetropolecafe.com
you heard it here first. JPM buys Hecla for $25/share so they can have a captive supply of Ag to cover their short positions.
Not likely, but it would be cool if it happened.
Wouldn't matter if it DID happen; JPM is short several years of silver production from EVERYBODY.
Once the situation is understood widely enough, they're toast; too many promises that can't be kept.
It may take a while for it to sink in, but then, Rome wasn't burnt in a day.
Again..."too simplistic." by bailing out the periphery Mario is bailing out the German banks...who in turn are buying German and "northern" debt thereby driving down yields. Obviously if I was in Spain, Italy...even France???!!!...I would be OUTRAGED...but the facts are the facts. This is all patently inflationary...at a certain level "simplifying things." the fool of course has been the one betting the resource play (think iron ore.) the smart money...the BIG money...is in those who go toe to toe with this policy (tech, nat gas utilities) since they have the cost advantage and demand "comes to them." DirecTV is great example of this. Those who have fought the Fed have been KILLED. And the Treasury market...AMAZINGLY!...has SOARED. In effect "go long everything" has been the play...save the dollar. The cost of course is in a MAJOR offensive directly into the heart of the ME. Can Syria wait 'till after the election? I say either way you have two GREAT Commanders' in Chief...and probably the finest officer corps since Grant met Lee in Appomatox. While the Navy is chomping at the bit "their glory will have to wait" it would appear.
If by "US Commander in Chief" you wanted to say "Grand Marshall Overlord of the World Debt Police", I agree 100%.
Good catch. USTs are selling off and it is they that have financed this rally. This is not to the benefit of Bernanke who is forced to suppliment the UST program at all costs. One of two things happens next week:
1) The rally fades as the Private Dealers sell the rally and move back into USTs
2) Bernanke unleashes QENEXT
I would say the likelyhood favors plan #1, as it would be politically unfavorable for the Federal Reserve's interest to institue a new measure right before the election especially when Romney will say whatever the Fed wants him to say because Romney is the world's greatest flip-flopping politician known in the known universe. Yet, as we know, the Fed can do what it wants. As Empty Chair Greenspan once said, "No one tells the Federal Reserve what to do, not even the White House."
Yet we must ask ourselves, "How long can the can kicking go on before someone yells clock and the Central Banking Fiat Ponzi is forced to issue its next round of unsterilized bond buying?" We must ask ourselves because this policy will happen, for if it does not, then we will see the deflation you have all been waiting for.
Yet....if we see a massive deflationary scenario it will become quite obvious that the policy measure that have been undertaken since '08, the policy measures that are used by the science of economics, have failed. If they fail this time in any epic way then it will be shown that they will fail again.
Imagine the DJ goes back to 6k. Imagine U-3 being above 15%. And then imagine Dr Paul Krugman yelling furiously from his fat gut, "We needed to do moar! We need more debt to finance the old debt!" Even liberal minded thinkers will question the system.
The last thing the status quo needs is to be questioned, and the whole reason for everything you see, every policy measure, every bad Brittney Spears video, is to mauntain the status quo until the police state is firmly operational.
Now we may never get there. We may achieve an awakening and learn that our jobs and money and power do not equal freedom. We may learn we are not our khakis and we are not our wallets. What we are is either the fluoride in our water, or the organic food in our bellies. We must choose, and we must choose soon, for I fear the decision is long awaited, and the longer we wait, the less chance we have to achieve our freedom.