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Aftershocks
Authored by James Howard Kunstler, via The Burning Platform blog,
If the FBI can track down two homicidal Chechen nobodies inside of forty-eight hours from their Boston bombing caper, you kind of wonder how come the Bureau can’t detect the odor of racketeering, insider trading, and wire fraud in this month’s orchestrated smackdown of the gold futures markets, including the parts played by the Federal reserve, one or more too-big-to-fail banks, self-interested big money players such as George Soros, slumbering regulators at the Commodities Futures Trading Commission, and tractable editors at The Wall Street Journal and The New York Times.
Of course, US Attorney General Eric Holder, who oversees the FBI, has done a fair imitation of a Brookes Brothers store window mannequin for four years, but surely somewhere in the trackless labyrinth of American law enforcement there exists some dogged rogue investigator with a filament of nagging curiosity who might piece together the clunky train of events that may amount to the financial crime of the century. For instance, it can’t be so difficult to determine who was behind the several hundred ton mass dump of paper gold contracts a week or so ago. There must be a pretty simple record of the transaction, retrievable with a warrant or a subpoena. Whatever entity did it — still ostensibly unknown — knowingly generated losses in the neighborhood of a billion dollars for itself. Was this just the cost of doing business? Or a favor owed, say, from a bank to its godfathers at the Fed, carried out to make the dollar look relatively a lot less unsound than it really is? Or a ruse to allow the custodians of bullion in US depositories re-acquire at bargain prices gold that has been stealthily hypothicated into oblivion? Or just to divert attention from their inability to make good on contracted deliveries of actual physical gold.
No official has yet answered why the Federal Reserve Bank of New York told the German government a couple of months ago that it would take seven years to return that country’s gold held in safekeeping (across the ocean from the Russians) since the Cold War. The NY Fed must have a vessel under contract that makes the proverbial slow boat to China look like an ICBM.
Doesn’t anybody want some answers to these questions, including how come the two aforementioned major newspapers published front-page stories calculated to justify, if not provoke, the most extreme negative sentiment in the precious metals markets, seemingly coordinated with Goldman Sachs advisories to short those markets? And what about a glance at the trading records to see who executed massive naked shorts? Wouldn’t it be interesting if they were the same parties as the dumpers? And why? - other than a strenuous intervention in the markets to make those markets look unreliable? Does anyone even remember that the purpose of financial exchanges is to verify and authenticate the clearing of trades to provide confidence that markets are honest so that real business can be conducted?
What the interveners have accomplished is only to prove that the gold and silver derivatives markets are unreliable. They may have smashed the trade in that kind of paper, but only achieved a firmer divergence between the derivatives markets and the bullion markets where, for example, the premiums on delivery of silver ounces makes the price exactly equal to the pre-smackdown price. Anyway, nobody believes that the London Bullion Market Association (LBMA) or that the New York Commodity Exchange (COMEX) can deliver. Meanwhile, runs on bullion contracts were starting to uncover a contagion of swindling in precious metals obligations that pervaded the western banking system. It was not a coincidence that the smackdown happened three weeks after the Dutch bank ABN Amro notified clients that it would only satisfy demands for redemptions of gold held in its custody with equivalent cash payments. “No gold for you today!” A fair inference based on subsequent events would be that all the custodians of physical gold bullion have misreported their holdings. And now that actions by the European Union and its agents have ventured into the dangerous territory of plain confiscation, there is not a whole lot of faith throughout the western world by people who are paying attention that an account of any kind in any financial institution is safe. There is good reason to fear runs on everything.
Because the smackdown organizers pulled off their operation in a panic, they probably ignored the potential further negative consequences of their stratagem, namely a worsening loss of confidence in banks generally and in the trade of abstract financial instruments in particular, including currencies. Nervous public officials may be brooding on imminent “bail-ins” and currency controls, but the public may be ready to bail out of the prevailing banking model into things that have been considered more money than “money” for a few thousand years, namely real gold and silver. The basic fact remains: there isn’t enough to go around.
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That's an interesting twist perhaps their manipulative efforts will self destruct if the deep pocketed longs decide rather than sell to cover they'll just take delivery of the physical metal specially knowing that this is a temporary gift handed them by a corrupt fed. Sell to cover and take the loss or take delivery and wind up with potentially massive gains ?
Silver: Supply & Demand Tight Rope Act;
http://winteractionables.com/?p=1323
Nice smackdown whoever did it.
I would have liked the redspot special prices to hang in there just a little longer, as i was not as quick as some others who got better prices.
the fumbling bureau of indigestion is surely on top of it. they are about to get these new fangled things called computers that let you write with a keyboard but you don't have to change the ribbon anymore. it will be very productive if they turn out to be reliable
The FBI and DOJ are the Squid's lap dog.
Those guys were taking advantage of real physical weakness in Euro Europe.
http://www.iea.org/newsroomandevents/news/2013/april/name,36837,en.html
"Relatively strong demand growth among non-OECD countries of 1.28 million barrels a day (mb/d) will be tempered by a contraction of 480 kb/d in OECD consumption, particularly in Europe, where it will shrink by 340 kb/d. European demand has not been this weak since 1985."
340 KBD is nearly 3 Irelands...........which have gone just recently.
People seem not to have gotten their heads around whats happening to Italy & Iberia.
Those countries do hold a shit load of private gold that many must now sell for cash as their business dealings have so little cashflow.
There is many little euro fishes with 100 to 1000 ozs of Gold out there.
This is where Swiss and UK gold flowed during euro formation in my opinion.
Who is going to get shaken down after the southern euro-peons i wonder?
The Anglos & French will just keep shaking until nothing remains.
The CBs stopped the flow within Europe back in 2010.
It then takes some time for real physical systems to break down.
The real smoking gun was the deals done back in 2010 .....think Ireland , Greece etc.
Where do you think France gets the resources for its new toys ?
http://www.youtube.com/watch?v=aHxJ2Xen11g&list=UURRYSvDnK5xqV-u5So99xTA&index=20
They stopped the flow to prepare & create capital for some future date in my opinion.
The UK seems to be in a similar position to japan but without nice cars to export.
If Corzine is still a free man, I would 't hold my breath waiting for Holder to order and investigation into the gold smack down.
Did I miss something?
FREE Jon Corzine!
RE:
And they actually did a shitty job of that - the whole point of law enforcement is to PREVENT the law, not encourage it.
Everything thinks the FBI s corrupt. And maybe it is. But I disagree.....I actually think they are incompetent.
The Bureau has gotten lazy because of the fact they can wiretap and surveil anything in sight, they get a boat load of government money (and usually ahead of anything else.....like Medicaid), and they are incredibly large and bureaucratic in scale. This started in the 1960's, and has grown ever since.
There's really no incentive, or drive, to be on top of things (unless it is drug related - because that's where the promotions, perks, and action is).
Like in Boston: they had this guy Tamerlan on a list. He's also on RUSSIA's list. They miss him going to Russia because the airline mispells his name (?), and they fail to follow up on him after a visit and a phone call to his mom (which can rattle some people), despite radical things on his youtube page, as well as "how-to" anarchist books, on his Amazon.
And oh BTW, his brother is on twitter saying 9/11 was an inside job (usually a red flag for ANY FBI/NSA algo, methinks).
If they just simply had a guy (motivated?) enough to surveil him 24/7 (I will be after I make this post), they would of known he'd been going to mosque and acting radical out in public. They would of known he was a struggling unemployed parent coming from a place with a warrior-laden history, in a discontentious relationship which involved in domestic violence. They would of heard from the street corner store that he was acting irrrationally around the neighborhood, just not in mosque. They would of saw he had a best friend die in a brutal, and quite frankly, passion-style fashion in his own home, with NO struggle.......which he DIDN'T go to the funeral to (and he also went to Russia months later).
All of the good slueths are really in the private contractor roles (this is what the Liam Neeson movie, "Taken", conditions us to). That's where the money, minus the scrunity, is.
They knew, oh they fucking Knew. They just didn't want to 'share', cause a very specific, careerist dick-head wanted to play it HIS way.
It's 90% politics and career-management BS. 10% is real work. Unfortunately.
Most of the tracking was done by the local police and local people. The local media was hotter on their trail than the FBI.
The gold sell-off was forecast in the COT at the start of April...
GOLD COT CHART
Commercial hedgers are the manufacturers of goods for that market (they know their market better than anyone), so gold producers were consistently net short whilst gold was bidding up, so they 'hedge' against their exports.
Notice there was almost a panic sell in late 2008 and the comm hedgers were close to flipping their intent, ie their disclosed positions would have put the green line above zero on the furthest vertical line to the left...it turned into a fakey and they resumed their sell positioning and then 2009 happened!
But look at the recent bidding up of the green line, it's coming back to historical highs, so you need to ask yourself this...what do the market producers know about their own product to make them hedge and start buying?
Just read on "Things That Make You Go Hmmmm" that there was a "glitch" in the COMEX/GLOBEX system during the smackdown which wouldn't allow any buy orders to go through and deprived people of buying the dip. What the fuck is that? Is this true? Has anyone else heard of this? If true, what further evidence is required that the system is rigged, corrupt, & broken? BART CHILTON IS A CRIMINAL.
What da fug duz evidence hafta do wit it?
The coordination with the media was shocking. For example, on his Sunday show, Fareed Zakaria trashed gold by talking about its record drop over a short period of time. He implied the Fed had everything under control as this indicates inflation fears have been diminished.
My initial response was "What the hell is Fareed doing?" I saw this as more of a market failure, or example of unstable markets or market manipulation, so who told Fareed to say what he said. Whatever happened, the media was part of the plan to communicate a warning to the gold bulls.
The CIA assets wear a one-piece jumper the same color as the green screen used for the behind-the-anchor-images so you couldn't see him standing there with the gun to the back of Zakaria's head.
Isn't he married to that Christianne Amanpour?
A) Fareed NEVER mentions anything about the markets on GPS, minus the whole moral aspects of it. He doesn't discuss AAPL 1000 or that type of bullshit, so this is off schedule for him
B) It's the fucking Boston Bomber week. You'd think a guy who talks politics and global affairs would be focusing on the relevant BREAKING news for an entire show, instead of taking a bit of time to pot-shot gold.
I agree, the timing is wierd.
Especially since he probably even didn't fucking write it.
He's about as useful as a onesided condom
I mean come the fuck on...
Brought to you by CNN.
The home of Charles Jacko talking about being in Baghdad when he was stoned in front of a green screen in NYC awaiting a pizza delivery
Home of " this is Geraldo Rivera coming to you live (with a 9mm on his hip) from Buttfuck Iraq " when he was never in Buttfuck but reporting on, something completely contrived, Buttfuck from the other side of the country.
The fucking NYT/Administration's Television edition
Cunts
Why do you even pay any attention to that shit? Pure propaganda.
Zakaria is a democrat butt boy. No more, no less.
At this point I don't care who tears down the house of cards that is our filthy, criminal, neofeudal federal government, only that it does get torn down. EMP, New-Madrid earthquake, or the military finally doing it's duty and slapping the cuffs on Obama and Biden, it really doesn't matter to me. The ship must be righted and it will be righted.
Simple answer to the issue:
They get to dress up in their fun war gear and wave their guns around. White collar crime is *yawn*...so borrrrrring to pursue. No kid grows up to be in law enforcement wanting to investigate funny business in the markets....thye want to shoot-'em-up.
Shooting things is a good business too.
Handcuffs last longer than bullets.
Attended a small conference with Bill Black as the keynote speaker. He says people do genuinely want to investigate, root out the evil, and send white collar criminals to jail. Unfortunately, those who control who and what gets investigated have no such interest.
Hey, we left you the freaking trains & English judicial system, please just stfu now & stop wasting zh's bandwidth won't you
EDIT. This for the troll douche upthread
http://en.wikipedia.org/wiki/List_of_federal_agencies
Nothwithstanding the predictable reactions of those whose hijacked, Pavlovian conditioned cognitive processes automatically and without any critical thought reject and conjure ad hominems when organized ‘Jewish’ interests are mentioned…
These federal agencies having to do with financial/banking regulation and policy:
· Council of Economic Advisers
· United States National Economic Council
· Congressional Budget Office
· Office of Management and Budget
· Bureau of Economic Analysis
· Financial Crimes Enforcement Network
· Commodity Futures Trading Commission
· Federal Deposit Insurance Corporation
· Federal Reserve System (and FOMC) – over half of the board is Jewish. Around a third of the regional bank heads are.
· Federal Trade Commission (until recently – current head is a Latina, prior two were Jews)
· U.S. Securities and Exchange Commission (until recently. The reprehensible MJ White is a WASP, but the prior two chairs were Jewish. Mary Schapiro had also headed the CFTC and FINRA. She was also head of the SEC under Clinton. Under both Clinton and Obama she was succeeded by a Jew)
· Internal Revenue Service (until recently – has an acting director now)
· FINRA*** - not sure if Ketchum is actually Jewish, but the prior 3 heads seem to have been, and so is the head of regulatory operations. ***not technically gov, of course.
·
Are all headed by Jews, representing approximately 2.5% of the population. Some of these agencies have been headed by a Jewish person for years, over the prior few, or most of the prior several chairmanships. Parenthetically, so is the Federal Election Commission, which may or may not explain some of the wholly uninvestigated, outright frauds perpetrated against Ron Paul voters in several states.
This is not cherry picking because I hate Jews or accept anti-Semitic theories of a global conspiracy (I know, I know, I must simply be lying, right?). These represent the major federal agencies – and this is just the top tier. If you were to look at upper management here, as well as in organizations such as the DHS, for example, you see similar wild over-representation.
We can either talk about it, or we can’t. If we can’t talk about it, then a privileged minority has hijacked this country’s political and military apparati in order to serve its own goals which will tend to differ from those of the majority of Americans, or the United States as a nation state.
My two cents. I don’t expect to see an article on Jewish over-representation in regulation or on Wall Street anytime soon, nor do I fault people from avoiding the topic. But let’s at least think honestly, even if speaking awkward truths is forbidden.
As to the Boston bombing. I don’t know, but I’d look at DHS as much or more than the FBI. DHS, since Chertoff and Lieberman, is essentially intermingled with Mossad - it is riddled with dually loyal Jews and outright Israeli spies. And, I think it was JR who posted on the {mainly Jewish…neoconservatism, like Bolshevism, was absolutely dominated by Jewish thinkers} neocons and other assorted intellectually moribund globalist types who got in bed with the Chechen terrorists in order to roll back Russia.
http://rightweb.irc-online.org/profile/American_Committee_for_Peace_in_Chechnya
http://www.globalresearch.ca/america-s-long-standing-campaign-to-destabilize-russia/32442
cf.:
http://www.motherjones.com/politics/2004/01/lie-factory
http://www.haaretz.com/news/diplomacy-defense/israeli-mossad-agents-posed-as-cia-spies-to-recruit-terrorists-to-fight-against-iran-1.407224
Go back and read {about} what the Romans and Greeks thought of the Jews they controlled or interacted with. This is pre-Christian, and they make similar accusations. The tautological notion/excuse that they were just ‘antisemites’ merely begs the question. As to ‘Jews’ as a group, writers widely disparate in time and space have made remarkably similar accusations – I fail to see how “hate” alone accounts for this. At some point, it seems as if a thread of xenophobia and ethnic supremacism within Judaism may have played a role.
If that causes you some discomfort, then you may not want to read this:
http://www.jesusneverexisted.com/chosen-people.html
or this:
http://current.com/community/93907305_johns-hopkins-study-confirms-european-jews-are-khazars.htm
It’s because of the hyperethnocentrism, hate and greed within Judaism that we see religious or nationalist Jews repeatedly acting like 5th Columns in various host countries. Jews are not “the reason” for all the wars, not at all, but they stand largely in control, directly and indirectly, of your government, banking, media, and academia. Banking, per se, along with war profiteering and the need for fossil energy are major sources of the suffering, death and corruption in the world, but Judaism, and its frankly, barbaric beliefs, should be in the conversation – when the world’s superpower seems to be a puppet doing the bidding of a Zionist Fifth Column.
Gas/oil pipelines, private central banking, and Greater Israel are the 3 motivations for everything the US/NATO and its proxies do.
Sua Sponte
ABN Amro notified clients that it would only satisfy demands for redemptions of gold held in its custody with equivalent cash payments. “No gold for you
today!”
This made me think of an old Kid Creole and The Coconuts song: "No fish today" - The lycris go something like this:
"I'm sorry ma'm, no fish today.
I set out on the sea, with the early morning breeze, like I always have.
But then someone came along, and I ran into a storm oh I had my chance.
I got what I could get at the price of getting wet, then I headed back.
The authorities agreed that if anyone should eat, it should be the upper class.
http://www.youtube.com/watch?v=kGhkCcU8_Ao
Some banks give out toasters, some anal sex, but they do not tell you about the anal sex.
[quote]...but surely somewhere in the trackless labyrinth of American law enforcement there exists some dogged rogue investigator with a filament of nagging curiosity who might piece together the clunky train of events that may amount to the financial crime of the century.[/quote]
Gotcha covered! :>D