• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

From Rothschild To Koch Industries: Meet The People Who "Fix" The Price Of Gold

Tyler Durden's picture




 

Earlier today many were stunned when the historic, 117-year old, London Silver Fix announced that in three months it would no longer exist. However, silver is only one half of the world's two best known precious metals. Which is why we decided to take a long, hard look at that other fix: gold.

The reason for this particular inquiry is because in the aftermath of the rapid and dramatic departure of the world's largest bank by outstanding notional derivatives, and Europe's biggest bank by any metric, Deutsche Bank, from the precious metal fix, something felt out of place: almost as if the participants of the "fixing" process which for so many years took place in the office of none other than Rothschild on St. Swithin's Lane in London, were suddenly scrambling to disappear without a trace.

In conducting our research we hope to not only memorialize just who are these particular individuals who "fix" gold using nothing but publicly available information of course - because after all it is not as if they have anything to hide or fear - but to connect some of the very peculiar dots behind the scenes of what to some, is the original, and most manipulated market in history - that of gold.

* * *

First, as has been reported previously, when Deutsche departs, this will leave only four gold fix members, namely, Barclays, HSBC, Société Générale (SocGen) and Scotiabank, and since only two silver fixing entities remained, HSBC and Scotiabank, the traditional silver price discovery mechanism was shuttered. The Fixings are conducted twice daily at 10:30 am and 3 pm London time and are used widely by all participants in the precious metals industry for benchmarking prices and valuations and also as trading price reference points.

The gold and silver fixings are organised through UK limited liability companies of which the member investment bank traders are directors. Before the resignation of Deutsche Bank, there were five directors and five alternate directors of "The London Gold Market Fixing Limited" and three directors and three alternate directors of "The London Silver Market Fixing Limited."

Earlier this year on 16th January, German financial regulator BaFin stated that possible manipulation of currency and precious metals markets could be more serious than the manipulation that has already been proven in the Libor rigging scandal. On the very next day, January 17th, Deutsche Bank announced that it was withdrawing from both the gold and silver fixings in what it called "a scaling back of its commodities business."

Needless to say, in aftermath of the termination of the silver fix, and now that there are significant regulatory and litigation spotlights on the Fixings, and one major member exiting, some are wondering: will the demise of the Silver Fixing undermine the rationale for retaining the Gold Fixing? And what will replace it.

* * *

We don't have the answer. What we do know is that using public records such as the British Companies House database and other public databases, one can find not only all the available information on the London Gold Market Fixing Limited company before it too disappears into thin air, but to get a sense of the kind of people it employs.

Below is the full list of 10 most recent directors and backups of the Gold Fixing:

 

So let's start with everyone favorite French bank: SocGen, where we meet young master Vincent Domien, born June 13, 1980, and director since January 25, 2010. His Goldfixing phone contact info is +44 207 762 5374, and he can be reached at: vincent.domien@sgcib.com. His LinkedIn profile has extensive details on what it takes to become a gold fixer.

 

Sadly, the other director from SocGen, Xavier Lannegrace, born 1964 and director since December 19, 2013, has no LinkedIn profile, so we had to go to other primary sources. As it turns out Mr. Lannegrace keeps a low profile but does have occasional media appearances, such as this one in Risk.net from 2011

Instead of increasing margin calls to protect against credit risk as many banks did at this time, SG CIB began providing some unmargined lines to mining firms, even taking over margined positions that miners had with other lenders and making them unmargined.

 

"To avoid a cash constraint we can provide some unmargined lines - transforming risk on the price into risk of performance. But in that case what we really need to see is the miner performing, producing the material, and delivering the material," explains Xavier Lannegrace, managing director of base metals, precious metals and agriculture at SG CIB in Paris.

And also from Risk, from the year before:

“The Meteor system has been able to handle a massive increase in both flow and new transactions, which leaves us in a very strong position on the operational side. We looked at all our operational risk reporting, counterparty risk exposures and risk limits, and Meteor told us we are solid. So we can keep on developing a stronger commodities desk, moving into agricultural commodities and developing new indexes because we know commodities are going to be the hot spot with investors in 2010,” says Xavier Lannegrace, global head of commodities marketing and sales in Paris.

 

* * *

“You can go to bed at night having left an order with Société Générale knowing that order is going to be watched and looked after, so there is no problem when you come into the office the next morning. The service is first class.”

And from yet another year prior:

As well as the sharp drop in metals prices last year, the collapse of Lehman on September 15 sent reverberations around the metals markets. The investment bank was not a big player in the metals markets, but the collapse of the broker-dealer caused counterparty credit risk to become the number one issue for market credit risk, we have seen investors and corporates diversify their hedges amongst several banks. Those who normally traded with one, two, or three banks are now trading with five or six different banking counterparties,” says Xavier Lannegrace, global head of commodities marketing at Société Générale  Corporate and Investment Banking (SG CIB) in Paris.

* * *

Moving to the bank that redefined the term "money laundering", HSBC we meet David Rose, contact phone +44 207 992 8041 and contact email: david.b.rose@hsbcgroup.com, who has the following rather sparse LinkedIn profile: 

 

And his alternate director, Peter Drabwell, self-described on LinkedIn as "a precious metals sales and trader"

 

* * *

We then proceed to the current Chairman of the Gold Fixing group, Simon Weeks, born 1962, who hails from Canada's Scotiabank, aka ScotiaMocatta. He is one of the veteran directors, appointed in February 1995. Those who so wish can reach Simon at +44 207 826 5930 and his contact email is simon.weeks@scotiabank.com. Alas, there is not much in his LinkedIn profile:

* * *

And the alternate from ScotiaMocatta: Steven Lowe

Steve is the Managing Director of Scotiabank, London with overall responsibility for sales, trading and distribution of Scotiabank’s European precious metals business. Additionally he is the Global Head of ScotiaMocatta's base metals business, CEO of Scotia Capital Europe Ltd and a board member of Scotiabank Europe Plc. Prior to his arrival in London in 1998, Steve worked in Toronto covering a portfolio of North American mining companies, particularly credit products including debt, project finance and metal derivative transactions. Steve has an MBA from the Ivey School of Business and a Bachelor of Commerce degree from Queen's University.

He has been a member of the LBMA Management Committee for numerous years and has acted as Vice Chair of the committee for two years. He also sits on the LBMA PAC committee.

* * *

Next we get to most British notorious bank, Barclays, we find director Mr. Martyn Whitehead, contact phone: +44 20 7773 8106, contact email: martyn.whitehead@barcap.com, whose LinkedIn profile describes him as "Global Head of Mining & Metal Sales at Barclays Capital", and who previously worked for 6 years at Rothschild.

* * *

Also from Barclays, there is Jonathan Spall, who also has quite an extensive LinkedIn profile.

Alas, Mr. Spall won't be at Barclays, or the fix, for long. As Bloomberg reported in January 2014

Barclays Plc cut commodities jobs in London and New York as part of reductions in fixed income, currencies and commodities, according to two people familiar with the matter. Bharath Manium, a managing director in commodities structuring, Paul Jackman, a managing director in the commodities index business, Jonathan Spall, product manager for metals in London, and Sudakshina Unnikrishnan, an analyst in London, are leaving, according to the people who asked not to be identified because the move hasn’t been made public.

In fact as was reported by London Gold Market Fixing Ltd, Mr. Spall is no longer with the company since April 9, 2014.

* * *

Which leaves us with the two most interesting and curious individuals: the "fixers" from Deutsche Bank, which as was reported previously, is no longer a member of the gold fix company courtesy of BaFin's accelerated procedure to reign in the German bank.

What follows next is an intricate timeline journey into the gold fixing rabbit hole, where we find some very suspicious and unreported issues about Deutsche Bank's departure from the Gold and Silver Fixings, namely Matthew Keen's sudden resignation and departure in January after BaFin's statements, followed by the resignation of Kevin Rodgers. Why did Keen resign? Secondly, Deutsche quietly stopped contributing to GOFO as early as February or March.

1. On Friday January 17th, Deutsche announces that its quitting the gold and silver fixings. On  Monday 20th January, Matthew Keen, Deutsche's head of precious metals, resigns from the London gold and silver fixings companies and is replaced by Kevin Rodgers, Deutsche's global head of FX. Matt Keen then departs fully from Deutsche Bank in January, and starts a new job for Jefferies in April.

Deutsche Bank then announces on 28th April that Kevin Rodgers is resigning from Deutsche Bank, the day before it announces that it can't sell its two seats on the gold and silver panels and that it is resigning. The resignation of Matthew Keen has not been reported anywhere it seems.

2. Sometime in March at the latest, Deutsche Bank quits being an LBMA forward market maker, and stops contributing to GOFO rates and forward curve data. This also appears to not have been reported previously.

The following timeline illustrates some important information that has not been discussed:

 

November 27th 2013: German regulator BaFin announces that it is reviewing how banks participate in the gold and silver price setting

BLOOMBERG says "The regulator is looking at the procedures at “individual banks,” Ben Fischer, a spokesman for Bafin, said in an e-mailed statement today."

 

December 12th 2013: The Financial Times states that BaFin has already been interviewing Deutsche Bank on this for several months and has demanded various documens from Deutsche.

FINANCIAL TIMES: "BaFin has grilled Deutsche Bank staff during several on-site inspections in the past few months"

 

Wednesday January 15th 2014: Reuters reveals that Deutsche has suspended New York based FX traders and that Fed and

OCC visited Citigroup offices in Canary Wharf, London

REUTERS: "Deutsche, Citi feel the heat of widening FX investigation"

 

Thursday January 16th 2014: BaFin's president Elke König says in a speech in Frankfurt that currency and precious metals price manipulation is  "worse than Libor".

BLOOMBERG: "Metals, Currency Rigging Is Worse Than Libor, Bafin Says"

 

Friday 17th January 2014: Deutsche Bank announces that it is withdrawing from the gold and silver price fixings

REUTERS: "Deutsche Bank is withdrawing its participation in the gold and silver benchmark setting process following the significant scaling back of our commodities business.

 

Monday 20th January 2014: Matthew Keen, Director (precious metals) at Deutsche Bank resigns as a director of the gold and silver fixing companies and Kevin Rodgers, Global Head of Foreign Exchange at Deutsche Bank is appointed as Deutsche Director in both of these companies (why an FX trader is appointed to trade commodities is not quite clear).

On the same day, Matthew Keen also resigns as the Deutsche director representative of London Precious Metals Clearing Limited (LPMCL) and is replaced by Raj Kumar, Deutsche'sEuropean COO, Commodities.

Curiously, Matt Keen did not operate out of either London or Frankfurt, but instead relocated from London to Dubai with Deutsche in 2012. Is that the farthest one could get away from US and European regulators one wonders?

 

Sometime in February or March - Deutsche stops contributing to GOFO

LBMA rolled out a new web site in ealr April. This was mentioned in the LBMA's Alchemist, Issue 73, published March 31st. The wayback machine has an imprint from the new site on April 9th. In the GOFO contributor list, Deutsche is not listed

Deutsche disappeared from GOFO before 9th April - new web site

Deutsche was still listed as a GOFO contributor on the old LBMA web site, latest imprint is February

Old GOFO - February

 

Sometime in February or March - Deutsche ceases to be a market maker for forwards

Deutsche not a forward market maker now

Old market makers list - February 14th

April 25th 2014: Reuters reports that sources say Deutsche canot sell gold and silver seats due to US lawsuits

REUTERS: "U.S. lawsuits hobble Deutsche Bank's bid to sell gold fix seat"

Just what was Deutsche worried buyers would find during the due diligence?

 

April 28th 2014: Deutsche Bank announces that Kevin Rodgers, Global Head of FX is quitting the bank in June

WALL STREET JOURNAL: "Deutsche Bank Head of Forex to Retire - Kevin Rodgers to Leave Industry in June; Departure Not Linked to Global Investigation"

Burying the evidence, and firing the bodies?

 

April 29th 2014: Deutsche resigns seats on gold and silver fixes, can't sell them, gives 2 weeks notice, last day 13th May

REUTERS: "Deutsche Bank resigns gold, silver fix seat with no buyer"

Saturday May 10th 2014: FT's John Dizard comments that "Precious metals market people tell me that even in advance of Deutsche's formal departure from both the gold and silver fix, the bank had reduced its participation in putting up bids or offers at the silver fix very substantially."

FINANCIAL TIMES: "No silver lining for gold-fix regulation"

 

May 13th 2014 - Deutsche's last day on gold and silver panels

... However....

As Reuters reported earlier today:

A source familiar with the situation told Reuters that Deutsche Bank had postponed its resignation, responding to a specific request from Britain's Financial Conduct Authority (FCA).

 

"The other banks may have indicated to the regulator that they were looking to withdraw as well and so to make this an orderly affair Deutsche was asked to postpone the date of resignation," the source said.

In other words, just as the Silver Fix is no more, so the Gold Fix will almost certainly be nothing but a memory in a few short months now that the spotlight is shining on its members. But why the sudden scramble to depart and not just by Deutsche but by all other members? (... that was rhetorical)

Other questions also remain unanswered.

Looking at Mr. Keen's LinkedIn profile we find that before Deutsche, Keen worked as Head of Precious Metals at none other than the infamous Koch Industries. Here he "Built a global precious metal business around Precious Metal and PGM inventory management for the oil refining and speciality chemical processing industries."

Wait, so the Deutsche trader who is most suspect of rigging the Fix, and who quit first (and hence, best), learned his craft at Koch Industries? It almost makes one wonder just what kind of gold and silver trading the Koch brothers engage in.

* * *

But perhaps the most curious and surprising finding here is what Bloomberg reported back in November, when it wrote one of the first articles exposing the "Fix" to the mainstream (if not so much the "tinfoil blog" vertical which was well aware of all of this years ago). To wit:

London Gold Market Fixing Ltd., a company controlled by the five banks that administers the benchmark, has no permanent employees. A call from Bloomberg News was referred to Douglas Beadle, 68, a former Rothschild banker, who acts as a consultant to the company from his home in Caterham, a small commuter town 45 minutes south of London by train. Beadle declined to comment on the benchmark-setting process.

"No permanent employees": extremely convenient when one has to pick up and simply disappear without a trace...

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Wed, 05/14/2014 - 17:16 | 4760587 TeamDepends
TeamDepends's picture

Shake hands ONLY with a HAND CONDOM.

Wed, 05/14/2014 - 17:24 | 4760623 Canadian Dirtlump
Canadian Dirtlump's picture

I wouldn't fist bump them if I had a metal gauntlet on.

 

Either way, the fixing issue is intriguing, but again, the whole drop kick the market by selling 20 tons when most rational north american medicated citizens are sleeping without regard to price is the much more important issue.

 

 

Wed, 05/14/2014 - 17:27 | 4760634 outamyeffinway
outamyeffinway's picture

Hiding in plain sight.

Wed, 05/14/2014 - 17:32 | 4760654 Xibalba
Xibalba's picture

definitely no men of color involved.

Wed, 05/14/2014 - 18:00 | 4760681 DoChenRollingBearing
DoChenRollingBearing's picture

 

 

This thread is definitely going to get a lot of reads and a lot of comments.

Gold, fishez!  Get yer phyzz while you can!

 

EDIT:

Makes me wonder about the manipulation of platinum too.  

Koch.  Rothschilds.  Deutsche & HSBC.  A regular Rogues Gallery here...

Wed, 05/14/2014 - 18:05 | 4760761 666
666's picture

Y'know, we start out in life as cute babies without a care in the world, grow into adolescence while still usually being OK, and then something happens to some of us that turns us into selfish greedy bastards who would rob and kill others without any conscience problems. What is it exactly that goes wrong?

 

Disclaimer: I'm thankfully not one of those assholes.

Wed, 05/14/2014 - 18:16 | 4760791 gmrpeabody
gmrpeabody's picture

Maybe..., it's something to do with girls?

Wed, 05/14/2014 - 18:26 | 4760821 Pinto Currency
Pinto Currency's picture

 

Silver on the Shanghai exchange is trading at a 5% premium to London.

The physical markets are starting to go around the paper markets and the paper rig is no longer feasible.

Wed, 05/14/2014 - 18:32 | 4760845 J S Bach
J S Bach's picture

Who died and made these guys the gods of money?

(Answer: They're self-chosen.)

Wed, 05/14/2014 - 18:44 | 4760886 Pinto Currency
Pinto Currency's picture

 

Their employers conferred with prometheus and selected them.

Wed, 05/14/2014 - 19:15 | 4761005 cifo
cifo's picture

Looks very interesting. This should have been a weekend post (with not much else to read). Requires time to read and understand. Most probably I will re-visit next weekend.

Wed, 05/14/2014 - 19:29 | 4761037 Herd Redirectio...
Herd Redirection Committee's picture

Did any one notice these guys are ALL in SALES?  Precious metal sales?  But buying?  No... Mining?  No...

Selling, shorting, naked shorting, selling calls, buying puts....

Wed, 05/14/2014 - 19:53 | 4761104 newworldorder
newworldorder's picture

No mystery. If you are going to sell that which you do not have you do not need to know anything about buying or mining. He who sells the most and often wins.

Wed, 05/14/2014 - 20:08 | 4761128 strannick
strannick's picture

A real shitheads ball.

Good thing there are more Tylers than heads on a hydra, because such a public spectacle of such evil doers wont be appreciated by them. Cue cyber attacks on ZH

Wed, 05/14/2014 - 21:04 | 4761272 old naughty
old naughty's picture

You see regulators made me fear (?)...

Now you don't.

Wed, 05/14/2014 - 22:25 | 4761445 Mistress Raindrop
Mistress Raindrop's picture

Wait till interest rates eventually go up.  Gold won't be worth shit.  Bitches.

Wed, 05/14/2014 - 23:46 | 4761582 markmotive
markmotive's picture

All gold is bankers' gold.

All wars are bankers' wars.

http://www.planbeconomics.com/2013/04/documentary-all-wars-are-bankers-w...

Thu, 05/15/2014 - 07:34 | 4761850 GetZeeGold
GetZeeGold's picture

 

 

 

 

Tyler overlooked Boss Hawg.

 

Have we found Germany's gold yet?

 

How's that Fort Knox audit coming?

Thu, 05/15/2014 - 15:09 | 4763620 rocker
rocker's picture

Probably missed more than that, but he got most of the dick heads including the scumbag from SocGen, Xavier Lannegrace. 

Thu, 05/15/2014 - 15:58 | 4763805 rocker
rocker's picture

Probably missed more than that, but he got most of the dick heads including the scumbag from SocGen, Xavier Lannegrace. 

Thu, 05/15/2014 - 00:21 | 4761631 e_goldstein
e_goldstein's picture

I was hoping that the Dragon Lady had put you out of our misery.

Is there any place to donate to hurry that along?

 

Thu, 05/15/2014 - 09:41 | 4762265 ratpack1968
ratpack1968's picture

Actually, if interest rates go up the U.S. Treasury is going to have a real problem paying its bills along with the interest on all the money it needs to borrow to pay those bills.  So, the risk of default increases or they print more money.  We are also witnessing the slow death of the Petrodollar regime.  All scenarios bodes well for gold. Bitches.

Thu, 05/15/2014 - 09:42 | 4762266 ratpack1968
ratpack1968's picture

dupe - oops

Wed, 05/14/2014 - 21:25 | 4761318 philipat
philipat's picture

Certainly "The Fix" is a part of the PM manipulation, but only a part, and perhaps the least important part. Irrespective of what "The Fix" is replaced by, there remains no obstacle to the BIS and CB's, using their BB Agents, dumping thousands of naked paper shorts during thin Globex trading hours, clearly without reference to a profit motive. So, as long as the paper tail continues to wag the physical dog, I fear that the manipulation will continue essentially unchanged, irrespective of "The Fix".

Comex has already become a "Circle Jerk" between the BB's alternating on opposite sides of a contract with The Fed printing to cover any net losses over time.

Wed, 05/14/2014 - 21:35 | 4761343 palmereldritch
palmereldritch's picture

The Glitter Ratty

Wed, 05/14/2014 - 20:42 | 4761211 Squid-puppets a...
Squid-puppets a-go-go's picture

are they all bailing out on the fix mechanism for fear of justice - or is it being replaced by an improved manipulative regime?

Uninquiring minds dont care to know

Thu, 05/15/2014 - 03:54 | 4761326 philipat
philipat's picture

It's a little like cockroaches scurrying for darkness when light shines on them? And there is never only one cockroach.

They have probably been tipped off by the "Regulators" to get out of Dodge while the going is still good and go hide somewhere for now. And remember, what we call "Manipulation" is known to the CB's as "Monetary Policy". And they are above what Rule of Law as actually still exists?. Their "Monetary Policy" with PM's has become blatantly obvious and they seem not only not to care but want to telegraph very clearly what their policy is, lest anyone should start to get funny ideas about being able to buy Gold as a source of both profit and circumventing Fial Ponzi games.

Wed, 05/14/2014 - 20:27 | 4761161 DaveyJones
DaveyJones's picture

 the people who have died due to their actions are unfortunately not the ones who bestowed them their powers 

Thu, 05/15/2014 - 07:32 | 4761905 sleigher
sleigher's picture

Their fathers?

Thu, 05/15/2014 - 01:02 | 4761669 Joe A
Joe A's picture

I often wondered about that as well. But some people are just born bad.
Is it nature version nurture? A combination of that?

In the animal kingdom the one that is leader of the pack at a certain time is the one most suited for that position. In the human kingdom we just have psychopaths. We really should screen anybody aspiring a position of power for these mental illnesses.

Thu, 05/15/2014 - 11:57 | 4762817 cipher14
cipher14's picture

Bloodlines. It's in their nature. A baby cobra can only grow up to be a cobra after all.

Wed, 05/14/2014 - 17:47 | 4760701 NidStyles
NidStyles's picture

It's not really hiding if the majority of the populace simply doesn't believe you exist in the first place. 

Have you ever talked about market manipulation and government criminality with the people on the street? Those sheep haven't a clue about how sociopaths and psychopaths actually operate. 

Wed, 05/14/2014 - 17:57 | 4760729 James_Cole
James_Cole's picture

Have you ever talked about market manipulation and government criminality with the people on the street? Those sheep haven't a clue about how sociopaths and psychopaths actually operate. 

Not sure what's wrong with the people wherever you operate, but I can't think of the last time I talked to someone who thought financial markets weren't largely rigged / governments largely corrupt. 

Now, the folks who buy silver and then complain about manipulation after.... well those people leave me smh. 

"Silver is manipulated! Jp morgue is pure evil! On meh way to the coin shop! Gawddamn assholes!!"

Two weeks later. 

"Gawddamn manipulation!! I'm already down 10% from spot!! Fuck the fed!!! On my way to lcs!!!!!"

Rinse and repeat. 

Wed, 05/14/2014 - 18:19 | 4760800 NidStyles
NidStyles's picture

You're a simpleton, and simpletons deal with other simpletons. 

 

If you weren't a simpleton, you wouldn't be focused on silver investors ;-)

Wed, 05/14/2014 - 19:15 | 4761007 silverserfer
silverserfer's picture

sorry Nid only pretentious pricks such as yourself are simpletons who only now how to act live a sniveling little bitch on ZH.

 

You are not the intellectual you think you are. 

Wed, 05/14/2014 - 21:49 | 4761376 Terminus C
Terminus C's picture

When calling out someone as unintelligent, one should spell their ad hominem correctly. 

Thu, 05/15/2014 - 07:37 | 4761909 GetZeeGold
GetZeeGold's picture

 

 

 

Good tip.....thanks.

Thu, 05/15/2014 - 07:46 | 4761926 thatthingcanfly
thatthingcanfly's picture

That was not ad hominem. It was abusive - to be sure - but an ad hominem attack uses flaws in the speaker's character/background to (irrationally) justify dismissal of his central argument. That's not what he did.

Thu, 05/15/2014 - 07:49 | 4761930 thatthingcanfly
thatthingcanfly's picture

Nid's comment, however, WAS ad hominem.

Thu, 05/15/2014 - 09:37 | 4762248 Zero-risk bias
Zero-risk bias's picture

Who gives a funk?

Thu, 05/15/2014 - 10:34 | 4762514 Raging Debate
Raging Debate's picture

NidStyles - Knowledge is power. The Central Bank model conquered the earth by actions by first came understanding. Timing is everything. A guy I worked for had bought silver at $8. When it got to $50 I told him to get out and explained how floor and ceiling prices work (didn't explain how the world REALLY worked) and to get out as he wanted a house for his pregnant girlfield and liquidating it would have given him the funds for downpayment for something decent, some furniture etc. Do you think he sold the silver?

Look - There is not a problem with intermediaries like banking. There isn't a problem with lending in general. The problem is manipulation of events. There are plenty of people that want to believe whatever they want and they can and should succeed or fail based on doing research or lack thereof. The crime I charge individuals that run this model for is manipulation NOT because there are a lot of ignorant people in the world. Nothing wrong with Duke and Duke "Receiving the commissions" haha.

 Someone stated some people are born bad. Perhaps but most have a choice to correct it even if it is difficult. Our evolution seems to be accelerating and we strive for balance. Some profit off of CREATING imbalance which is criminal behavior.  This always is but is prone to cycles of generational dynamics and models of conquest but the attrocities in raw aggregate terms has declined over the millenia and recent centuries but still soft slavery or just less robbery and murder is unnaceptable or does someone wish to debate this point?

The best we can do right now is channel our competitive human nature and attempt personal balance through education then attempt to educate those with an EAR. I used to like the term "healthy competition". I speculate that by the time our species is near perfect balance whenever that happens we will evolve back into energy. Gold, money, pussy all of those things become irrelvant and frankly if a some good meals and blowjobs (or pick your own sexual desire) is the best this place has got to offer well I certainly do not want to live forever here. 

 After this cyclical crash and hopefully not too many war casualties I expect banking will become a utility, defense stocks will never be publically traded again and sociopaths will be screened for government positions. It will be prohibitavely expensive to buy government. But I also speculate we'll see another couple to few cycles before attaining balance. It is then that we get bored and finish the last cycle of evolution measured in decades. I believe that this pattern continues indefinately and whoever "god" is as a temporary station. Even what I say happens to be true then I imagine at some point god can't wait for recreation. Thanks for letting me share some thoughts.

Thu, 05/15/2014 - 10:41 | 4762515 Raging Debate
Raging Debate's picture

NidStyles - Knowledge is power. The Central Bank model conquered the earth by actions but first came understanding. Timing is everything. A guy I worked for had bought silver at $8. When it got to $50 I told him to get out and explained how floor and ceiling prices work (didn't explain how the world REALLY worked) and to get out as he wanted a house for his pregnant girlfield and liquidating it would have given him the funds for downpayment for something decent, some furniture etc. Do you think he sold the silver?

Look - There is not a problem with intermediaries like banking. There isn't a problem with lending in general. The problem is manipulation of events. There are plenty of people that want to believe whatever they want and they can and should succeed or fail based on doing research or lack thereof. The crime I charge individuals that run this model for is manipulation NOT because there are a lot of ignorant people in the world. Nothing wrong with Duke and Duke "Receiving the commissions" haha.

 Someone stated some people are born bad. Perhaps but most have a choice to correct it even if it is difficult. No pain no gain :D

Our evolution seems to be accelerating and we strive for balance. My real issue are models that profit by CREATING imbalance which is criminal behavior. This always is but is prone to cycles of generational dynamics and models of conquest but the attrocities in raw aggregate terms has declined over the millenia and recent centuries but still soft slavery or just less robbery and murder is unnaceptable or does someone wish to debate this point? Our imbalance is a very tempting target for exploitaion. Because while I see no harm in profit off imbalance it is a very thing line to cross over into creating it for personal gain and that is what I call evil.

The best we can do right now is channel our competitive human nature and attempt personal balance through education then attempt to educate those with an EAR. Of course the Rothschild's are not going to tell you how the world really works. But the Internet is forcing changes to the model already and this will continue whether you, I, them kick or scream or not about it.

I used to like the term "healthy competition". I speculate that by the time our species is near perfect balance whenever that happens we will evolve back into energy. Gold, money, pussy all of those things become irrelvant at that point and frankly if some good meals and blowjobs (or pick your own sexual desire) is the best this place has got to offer well I certainly do not want to live here forever.

 After this cyclical crash and hopefully not too many war casualties (but I do think there will be) I expect banking will become a utility, defense stocks will never be publically traded again and sociopaths will be screened for government positions. It will be prohibitavely expensive to buy government. But I also speculate we'll see another couple to few cycles before attaining balance so some group will learn how to overcome obstacles and be the global pain in the ass again. These force evolution forward the hard way but a rabbit doesn't thank a wolf before it gets eaten does it? It is at this point in balance then that we get bored and finish the last cycle of evolution measured in decades. I believe that this pattern continues indefinately and whoever "god" is as a temporary station. Even if what I say happens to be true then I imagine at some point god can't wait for recreation. Thanks for letting me share some thoughts.

Thu, 05/15/2014 - 06:10 | 4761827 FightingtheFed
FightingtheFed's picture

James unfortunately there's a lot of truth in your rant.

I see a lot of my friends that are only pissed that they have been screwed or their investement is manipulated instead of focusing on the utter corruption on the big scale.

 

I've been molested by these financial swindlers myself; however, my greatest gripe is that this financial chicanery directly promotes and supports the current administration in the White House which I consider to be an Abomination.

That's the big picture for me...

 

The whole system is a charade! Are they going to contiune to promote a Republican if they were to get in the White House? lol

 

Whatever, I gave you a thumbs up because as I said there's a lot of truth in your comment.

Thu, 05/15/2014 - 11:27 | 4762719 cocky roach
cocky roach's picture

Gold and silver manipulation is more than proven. Keeping your eyes closed doesn't make the truth go away.

Wed, 05/14/2014 - 22:36 | 4761472 KickIce
KickIce's picture

Satan's greatest lie is convincing people he doesn't exist.

Wed, 05/14/2014 - 23:10 | 4761520 Rusty Shorts
Rusty Shorts's picture

MAX HEADROOM Aint-establishment Quotes Throwback Early 80's 
Read more at http://www.liveleak.com/view?i=93b_1400102445#fg1x8Eyj40V1bBe7.99

Wed, 05/14/2014 - 17:53 | 4760718 Charles Nelson ...
Charles Nelson Reilly's picture

I like how the 2nd guy, Dave Rose, has 1 Linkedin connection.  Whose he connected to, satan?

Wed, 05/14/2014 - 17:55 | 4760725 DoChenRollingBearing
DoChenRollingBearing's picture

Maybe I'll ask him to connect up with me.

Wed, 05/14/2014 - 18:07 | 4760769 11b40
11b40's picture

We should all do it. Ask to become their linked in connections.

Wed, 05/14/2014 - 18:16 | 4760793 DoChenRollingBearing
DoChenRollingBearing's picture

Maybe he would be grateful and send us all some money...

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