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Paul Craig Roberts Rages "Free Financial Markets Are A Hoax"

Tyler Durden's picture




 

Via Paul Craig Roberts,

There are no free financial markets in America, or for that matter anywhere in the Western word, and few, if any, free markets of any other kind. The financial markets are rigged by the big banks, the Federal Reserve, and the Treasury in the interests of the profits of the few big banks and the dollar’s exchange value, which is the basis of US power.

There is a contradiction between a strong currency on one hand and on the other hand massive money creation in order to sustain zero and negative interest rates on the massive debt levels. This inconsistency is revealed by rising gold and silver prices.

When gold hit $1,900 an ounce in 2011 the Federal Reserve realized that the precious metal market was going to limit its ability to provide enough liquidity to keep the thoughtlessly deregulated financial system afloat. The rapid deterioration of the dollar in terms of gold and silver would sooner or later spill over into the exchange value of the dollar in currency markets. Something had to be done to drive down and to cap the gold price.

The Fed’s solution was to take advantage of the fact that the prices of gold and silver are determined in the futures market where paper contracts representing gold and silver are traded, and not in markets where the physical metal is actually purchased by people who take possession of it. The Fed realized that uncovered short sales provided enormous leverage over the prices of the metals and that it would be profitable for the bullion banks, such as JPMorgan, Scotia, and HSBC, to short the market heavily and then cover their shorts at lower prices produced by selling as a result of triggering stop-loss orders and margin calls.

Dave Kranzler and I have shown on numerous occasions that the bullion banks and the Federal Reserve make profits and protect the dollar by suppressing the prices of gold and silver. They do this by illegally selling huge numbers of uncovered shorts in the futures market. This illegal operation is supported by the so-called “regulatory authorities” who steadfastly refuse to intervene.

It has just happened again. Dave Kranzler describes it in detail here.

If memory serves, Matt Taibbi explained a few years ago how Goldman Sachs got position limits removed from speculators, so that now speculators can dominate market forces.

Neoliberal economists in service to the financial sector have created a rationale for why interest rates can be negative in the face of massive debt and money creation and a slew of troubled financial instruments from corporate junk bonds to sovereign debt. The rational is that there is too much saving: The excess of savings over investment forces down interest rates. The negative interest rates will discourage people from saving and encourage them to spend, because the price of consumption in terms of foregone future income from saving is zero. It even pays to consume, because saving costs more than it earns.

Economists argue this even though the Federal Reserve reported that a majority of Americans are so low on savings that they cannot raise $400 without selling personal possessions.

That economists would concoct such an absurd explanation for negative interest rates, an explanation obviously contradicted by empirical evidence, shows that economists are now prostitutes just like the media. The economists are lying in support of a Federal Reserve policy that benefits a handful of mega-banks at the expense of the rest of the world.

The absence of integrity in Western institutions and politicized professions is proof that Western civilization has declined into total decadence just as Jacques Barzun said.

It is amazing that there still are some Russians and some Chinese who want to be part of the sordid decadence that is the Western world.

It is just as amazing that Americans and Europeans are so trapped in The Matrix that they have no inkling that their future has been destroyed.

 

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Thu, 05/28/2015 - 20:36 | 6142005 Achilles Heel
Achilles Heel's picture

Ya think?

Thu, 05/28/2015 - 21:06 | 6142056 Achilles Heel
Achilles Heel's picture

OK, after all this time & clearly a "Captain Obvious" candidate (PCR), begging for sarc, writes this.

 

"There are no free financial markets in America, or for that matter anywhere in the Western word, and few, if any, free markets of any other kind. The financial markets are rigged by the big banks, the Federal Reserve, and the Treasury in the interests of the profits of the few big banks and the dollar’s exchange value, which is the basis of US power."

 

I give it the "YA THINK" sarc that it truly deserves, (& get junked) - LOL

 

I gusee it's a good thing that I didn't mention that:

 

"The financial markets are rigged by the big banks, the Federal Reserve, and the Treasury in the interests of the profits of the few big banks and the dollar’s exchange value, which is the basis of US power."

 

[insert here who runs all those things]

Thu, 05/28/2015 - 21:09 | 6142093 cnmcdee
cnmcdee's picture

Wanna make 100X your money in the next 60 days? Buy FAZ.  My research indicates that the CIA / NWO groupies are about to detonate a dirty nuke inside Chicago, that will trigger a nuclear strike inside Iran, martial law, and gun confiscation. FAZ trades inversely to the markets.

 

Thu, 05/28/2015 - 22:07 | 6142274 buzzy_the_pirate_dog
buzzy_the_pirate_dog's picture

Well shit.  I'm Chicago.  There goes my heaters.

Does your bro's have the radius of the conventional for said device?  We have a really strong jet flow so I guess the poor fuckers in MI will get wet.

Thu, 05/28/2015 - 22:51 | 6142417 cnmcdee
cnmcdee's picture

In 1998 a women waking in a trance explicited described the WTC attacks, but outlined a future event in Chicago,  She described how it would take out a 5 city block radius near the Sears tower, and would burn the portrait of the 'Farmers Daughter' in the Chicago Museum that would be played as an iconic image on the news over and over.  In this trance to her boyfriend she explained it would not be who we think it is, and it would result in the invasion and bombing with nuclear weapons inside Iran.

In 2014 Romanian Hacker Guccifer was sentenced to 7 years prison for hacking the email account of the elite.  Rolling Stones wanted to interview him but were only allowed to do so on the condition that they publish his manifesto.  When they returned from the interview they reported that he had discovered a plot by the elite to detonate a nuclear weapon in Chicago in 2015.

Just keep digging the coincidences just keep piling and stacking.  Generals reporting that 'we will be at war this summer, hopefully it will not be nuclear.'

 

FAZ is an Inverse ETF that goes up when the market goes down. If this event does occur then FAZ will go up 40-80x whatever you invest.

http://beforeitsnews.com/war-and-conflict/2015/05/all-signs-point-to-isi...

http://beforeitsnews.com/new-world-order/2014/05/whistleblower-reveals-t...

http://beforeitsnews.com/new-world-order/2014/05/nuclear-strike-on-chica...

http://beforeitsnews.com/new-world-order/2014/07/chicago-false-flag-nucl...

Fri, 05/29/2015 - 00:17 | 6142637 Gobbler
Gobbler's picture

But Roberts forgets to tell us that it's a lose lose situation.  If you hike interest rates. the whole house of cards collapses.  If you keep the ship on the present course, then what you get is a Japanese endless recession.  You just can't win.

Fri, 05/29/2015 - 02:21 | 6142802 Flybyknight
Flybyknight's picture

Pull your cards out of the house and let it collapse. You win I would think.

Thu, 05/28/2015 - 22:36 | 6142369 indygo55
indygo55's picture

My research indicates,,,,"

Care to share some of that research source?

Otherwise you are,,,, well,,,, you know.

Thu, 05/28/2015 - 21:53 | 6142220 OLD YELLER
OLD YELLER's picture

My guess is the same group of Oligarcs that did 9/11 rule the roost in the markets as well. Full Spectrum Dominace. Amereeka uber alles! Those guys.

Thu, 05/28/2015 - 22:35 | 6142361 indygo55
indygo55's picture

Yeah right but with 4 weeks and 6 days under your belt you wouldn't have thought that we are like three steps beyond even that.

Fri, 05/29/2015 - 05:03 | 6142853 Achilles Heel
Achilles Heel's picture

So I suppose that, despite your 'STRIPES' of 3 years 49 weeks, you still haven't fucking figured out that many of the posters here, (whom apparently have 'shorter' tenures), got that way & achieved that distinction, because INSTEAD of simply publishing 'Captain Fucking Obvious' material, endeavored to cut closer to the root of the problem, and thus, naturally, got the boot.

 

Which means, (from my perspective), ANYONE who can boast that they've been here on ZH for 3 or more years means that during all that time they've NEVER said, or done anything controversial at all.

 

For fucking fucks sake, every goddamned thing that PCR is saying here everyone knew (and why), 4 years ago when they whacked silver overnight. So what has changed since then?

 

- the whacking has continued apace

- equity markets are sitting near all time highs

- money printing has gone on unabated

- 'conspiracy theories' have become 'conspiracy fact' by way of admission of riggings (but with no criminal prosecutions)

 

So

 

- PCR is a genius for pointing out what we already know

- You're a hero for waving your pom poms (& never getting kicked off of ZH for waving them)

- silver is still at $16

- people like f_s are outcasts for attempting to discuss the real problem

 

SAME AS IT EVER WAS

Fri, 05/29/2015 - 10:49 | 6143699 Sages wife
Sages wife's picture

You are absolutely correct Achilles. Clearly he is preaching to the choir when his article is posted here. Hopefully though, his audience is broad enough that "our" message will reach many of the uninitiated. The internet will save us all, but not without intersection.

Fri, 05/29/2015 - 02:18 | 6142797 Flybyknight
Flybyknight's picture

PCR is one of the few straight up voices out there. You are just building your ego by belittleling him. In fact you are a useless piece of shit and  you should support those who attempt to expose the endemic ignorance and corruption in the US government and financial system. 

Fri, 05/29/2015 - 05:10 | 6142850 Achilles Heel
Achilles Heel's picture

OK, you win.

 

"Free Financial Markets Are A Hoax"

& PCR is the bestest, buddiest Captain Obvious in the world for saying that. Like, OMG, I would have never thought of that on my own.

 

 

"you are a useless piece of shit and  you should support those who attempt to expose the endemic ignorance and corruption in the US government and financial system"

 

There was a guy, on ZH, named f_s, who, instead of mindlessly waving pom poms at PCR articles, attempted to do just that. I believe his REWARD for that is that he's been kicked off of ZH over a dozen times.

 

Look dude, fuck all of that... Want to talk about what might happen in the future (instead of all this crap about the past that, after all the applause dies down, everyone knows already)? Everyone might have their opinion on that (but since I do my own thinking for myself instead of simply exercising my red & green arrow fingers), here's my  ^^^USELESS PIECE OF SHIT ^^^ opinion.

 

You need look no further than this chart right here (MONTHLY DOLLAR CHART ~ Since 1987)

 

http://www.finviz.com/futures_charts.ashx?t=DX&p=m1

 

Bullet point observations:

 

- Charts historically ALWAYS fill gaps

- I don't care if 'charts don't mean anything' (I'd actually agree with that)

- But they do mean something to these 'HOAXERS' who are manipulating the system (according to PCR, who is your hero ~ which naturally & quite ironically means that if you're gonna blindly cheerlead PCR, then you have to reluctantly accept that charts do mean something here ~ especially as it relates to THE DOLLAR)

- There is one 'error' in the visual on that chart (the huge gap in the middle there basically jumps from 1999-2004 ~ which means, it might not be a gap at all ~ however, the dollar did PEAK around the year 1999-2000 when the Euro was going into issuance, so it's still relatively accurate)

- Furthermore, there's still evidence of a 'weak candle' back in 1987 (which is usually the sort of thing that also gets painted later on)

- Furthermore2, there are lots of these sort of 'holes' around (PAR = 100) going all the way back to 1987 ~ These things, & because there are so many of them, tend to get painted later on (& which means, ostensibly, that PAR is the eventual settling point

- But not before some overshoot

- Macro things of this nature are almost never observed (because of the timeframes) ~ FFS, you'd need to go back almost 30 years to see this one.

- My conclusion is that there is a VERY HIGH chance that we'll see another OVERSHOOT in the near future (where it jumps very quickly above PAR = 100)

- I would not be surprised at all if it extends all the way up to the 114 - 115 area (filling that 'gapette' from back in 1987 ~ & essentially completing the Greenspan - Bernanke - Yellen tenures)

- It's not going to take 'as long for that to happen' ~ The pattern, since 1987 has a Fibonacci look to it (whereby it took 13 years to go from '87 peak to '00 peak) ~ one could stretch this out in reverse and assume some mighty coincidental aspects because you'd be talking about 1966 and 1932-33

- FOARWARD from 2000 (Fibonacci style), puts you into an 8-5-3-2-1 compressing pattern (whereby 2008 would establish the next shift, followed by 2013, 2016, 2018, 2019).

- Frankly ~ I'd say the crisis of 2008 set the normal functioning of these patterns into a flurry whereby the 'manipulation' of things has become much more difficult (as if trying to force a puzzle piece into place). So I'd consider the whole 2011-2013 time period one big blur.

- In any case, using 'TIME', rather than precise levels, I'd say it's back on track ~ I'd say the rapid rise in the dollar over the past year is evidence of playing catch up to those time parameters, and, like I said above, it still has a ways to go (even while the time is getting compressed further).

- Therefore, I wouldn't be surprised to see 114-115 sometime in 2016 (probably near the US elections). Naturally ~ this dollar strength would appear to be some sort of IMBALANCE and wreak 'deflationary' havoc across all markets. Of course, this will be 'spun' as a crisis (to get the next Bilderberg flunkie seated in the White House)

- Then it would all reverse back down, eventually, to PAR, but with the time compression, we're talking only 2 years, then another year after that.

- So it would be my guess that 2019 is around the time of a single world currency (maybe 2020 ~ If you want to configure the starting point of the FDR Bank Holiday as 1933+34+21+13+8+5+3+2+1)

 

^^^WHICH ALL MEANS^^^

 

- We still have 5 more years of reading PCR articles about how financial markets are 'FIXED'

- We still have 5 more years of geniuses like you telling me that instead of thinking for myself, I should get on my knees and worship CAPTAIN FUCKING OBVIOUS (you know ~ like you)

- We still have 5 more years of NOT talking about the REAL problem with the financial markets

- We still have 5 more years of watching people get kicked off of ZH for trying to talk about the real problems

 

So have fun y'all

Thu, 05/28/2015 - 20:37 | 6142010 Shock and Awe (not verified)
Shock and Awe's picture

Did he just figure that out? I dunno, I've been saying that for the last 7 years man over on my website!

http://globaleconomicanalysis.blogspot.com

Thu, 05/28/2015 - 21:28 | 6142012 Kirk2NCC1701
Kirk2NCC1701's picture

Para.3, Sentence 1.  Wish ZH had that insight back then, and warned its readers away from the BTFATH in Gold.

Ironically enough, ZH love for PM and hatred of Stocks could NOT have been more wrong. 

Moral:  Fuck the Perma-Bears, who are (historically speaking) wrong more often than Perma-Bulls (or you wouldn't have stocks rising long term).  Nothing beats a well-crafted, well- diversified portfolio.   That is called Investing.  Everything else is called Speculation, or worse.

p.s. FWIW, thanks to Simon Black's connections, I invested in a private equity somewhere in Asia, and got a 22-26% Annual Return for the last 2 years.  So much for perma-doom.  Or the need for Wall St, to invest well.

Thu, 05/28/2015 - 20:39 | 6142014 Colonel Klink
Colonel Klink's picture

So what are you going to do about it Paul?

Thu, 05/28/2015 - 20:44 | 6142029 trulz4lulz
trulz4lulz's picture

Write another blog about how fucked up it is (is going) to be, again? It can't be fixed, BTFD and run, bitchez!

 

Thu, 05/28/2015 - 20:59 | 6142071 Drummond
Drummond's picture

I like Paul Craig Roberts. But he can be guilty of chuckles at the most untimely moments.

Thu, 05/28/2015 - 21:27 | 6142142 Pancho de Villa
Pancho de Villa's picture

I like him too, primarily for the truths he reveals. If you pay close attention, his chuckles are more of the nervous, "we ARE fucked, aren't we", kind of laugh. 

 

Would you like him any more if he never chuckled?   Didn't think so... 

Thu, 05/28/2015 - 21:44 | 6142197 MrTouchdown
MrTouchdown's picture

He called them "economists", but they're actually mathmagicians. Nothing they propose is founded in reality.

Fri, 05/29/2015 - 19:44 | 6145582 trulz4lulz
trulz4lulz's picture

I never said I didn't like the guy, all I said was his next move was just going to be another blog about the same thing. And guess what? It is! Nobody knows what to do, Murikistanians won't do anything about it, China and Russia aren't doing anything but fancy lip service. Nah the world leaders are gearing up for a giant  cull. Welcome to the future, motherfuckerz! We aren't invited.

Fri, 05/29/2015 - 02:25 | 6142805 Flybyknight
Flybyknight's picture

Yeah he is cool but reminds me of the doctor on the simpsons sometimes

 

Thu, 05/28/2015 - 20:44 | 6142028 will ling
will ling's picture

still applies after 240 yrs: "give me liberty or give me death".

Thu, 05/28/2015 - 20:45 | 6142034 trulz4lulz
trulz4lulz's picture

As if it their death to deal? Humans are a strange lot.

 

Fri, 05/29/2015 - 03:56 | 6142863 Aussiekiwi
Aussiekiwi's picture

"give!" .....where have you been, we will take Visa, Amex or Mastercard...and of course cash or gold

Thu, 05/28/2015 - 20:44 | 6142030 Oswald did it
Oswald did it's picture

I'm not worried.  I have a 401k!

Thu, 05/28/2015 - 20:51 | 6142050 Shock and Awe (not verified)
Shock and Awe's picture

I'm not worried. I like the taste of humans. I like to smoke them with hickory and top with a sweet BBQ sauce.

I'm fully prepped and will NOT go hungry.

Thu, 05/28/2015 - 22:42 | 6142393 indygo55
indygo55's picture

"I'm fully prepped and will NOT go hungry.

Funny stuff. I saw a fat slow one today. Still youngish. Mmmmmmmm.


Thu, 05/28/2015 - 20:53 | 6142055 Veriton
Veriton's picture

PCR is a globalist propagandist whose job is to make the West look bad and the East look good.

Thu, 05/28/2015 - 21:19 | 6142121 Veriton
Veriton's picture

I can see by the down votes that many are falling for the good cop / bad cop routine. The globalists have the West playing bad cop to the BRICS' good cop, and guys like PCR are programming you to believe the con. You don't have much time to wake up, so start by looking at the G20 and how the BRICS really got started (a Goldmanite coined the term): http://redefininggod.com/2015/01/george-soros-and-the-elites-china-front...

Thu, 05/28/2015 - 21:25 | 6142135 TungstenBars
TungstenBars's picture

The West doesn't need anyone to help it look bad. It can do that on its own. 

Thu, 05/28/2015 - 21:38 | 6142182 Veriton
Veriton's picture

How did it come to be that the Western leadership suddenly became so stupid and "insane" (as PCR puts it)? How did it come to be that the Chinese communist party and the KGB thug Putin suddenly became so wise and heroic? Obviously, they didn't. The West are merely putting on a show of playing the scapegoats (for all the damage that was done while the NWO was being set up), and the East are putting on a show of playing the heroes who save the day (by bringing in the NWO - the UN/IMF/World Bank/BIS - under "new management").

Thu, 05/28/2015 - 22:38 | 6142381 anti-republocrat
anti-republocrat's picture

You have a point that those in control in the BRICs are no more moral than those in control in the West, but they definitely are not on the same team.  We'll be fortunate indeed if they don't decide to settle things with nuclear weapons.

Thu, 05/28/2015 - 23:17 | 6142503 Veriton
Veriton's picture

They have officially been on the same team since 1999, when the G20 was formed. And according to official Chinese propaganda, their central bank is subservient to BIS, just like the West: http://redefininggod.com/2014/09/mainstream-globalist-propaganda-reveals...

Thu, 05/28/2015 - 23:16 | 6142502 Gadfly
Gadfly's picture

It's called corruption. It happens to individuals and it happens to nations.  It happened to the Roman Empire and all other empires that have existed on this planet.  And it is now happening to the U.S.  Decline is not inevitable.  Only corruption makes it so.

Thu, 05/28/2015 - 23:24 | 6142517 Veriton
Veriton's picture

Do you think the Brazilians, the Russians, the Indians, the Chinese, and the South Africans aren't just as corrupt? Corruption is a constant in human affairs; only naivety would lead someone to believe otherwise. The US is going down because the globalists have been systematically taking it down, and China has gone up because they systematically built it. The Rockefellers created the blueprint for this back in the 1950's with their Special Studies Project: http://redefininggod.com/2014/11/the-rockefeller-plan-for-the-brics-new-...

Thu, 05/28/2015 - 21:06 | 6142085 MASTER OF UNIVERSE
MASTER OF UNIVERSE's picture

When Lehman Brothers went down a majority of their accountants and lawyers could not wrap their heads around what needed to be done on the other side of bankruptcy. Traders had a difficult time too. People were phased by the experience, and these were working so-called 'professionals' in the bizz. Why is it so difficult for Paul Craig Roberts to understand that Americans, and Europeans, are any different from Lehman Bros staff that were purportedly adept at the functioning, and the disfunction, of the financial system? The so-called 'matrix' is non-descript but I believe most individuals know how they are being controlled by a failing model of 'economics' that is loosely described as a 'matrix', whatever that may mean for some?

Thu, 05/28/2015 - 21:09 | 6142092 Reaper
Reaper's picture

The Grasshopper and the Ant applies to finance too. All summers end when winter begins. Ben and Janet can not dance in the snow. That Uebermensch run the Central Banks is a delusion of fools. There is no free money printing. There is no American financial manifest destiny. The finance piper must always be paid.

Thu, 05/28/2015 - 21:28 | 6142144 Jack Burton
Jack Burton's picture

" The finance piper must always be paid"

That is true, the costs must be realized sooner or later. Or in an even more true statement, "The laws of Physics will not be denied".

Physics pertains to finance and economics as well, because they are subject to all the laws of physics. These laws ensure that teh Fed can not continue for ever to play their Win - Win game, with losses never booked. For now, they are loading the dice to their favor, when the system can no longer dear that inbalance in physical law, then all losses will be realized in rapid order. That will be the day the entire fake financialized economy simply dies. Nobody in America even believes this is possible, they haven't even noticed that America stopped being a productive economy starting all the way back in the 80's.

America is supported by the valuable dollar, and it's acceptance world wide to buy anything and anybody. Though not backed by productive enterprise or real wealth creation, the artificial dollar hegemony allows the US to build earth's largest military and to bride and buy 3/4's of the world's politicians and parliaments to do Washington's biding. It is impossible to overstate JUST how importatn dollar hegemony is to this entire system. It is the only force that keeps the USA as the ultimate top dog on earth.

Thu, 05/28/2015 - 21:17 | 6142109 ebworthen
ebworthen's picture

Freedom and Liberty are a hoax too. 

"The Patriot Act must be passed again to protect Americans!"

Yeah sure, whatever.  What good is "freedom" if you aren't free?  "Liberty" in word only.

Thu, 05/28/2015 - 21:24 | 6142133 who cares
who cares's picture

In the end, the only way to suppress the price of gold is to sell phisical gold and keep the global demand oversupplied. China, Russia and India have been buying a lot of gold, much more than the world mining production can provide. The only way to satisfy the demand in excess to mining production must come from the selling of USA and other central banks gold reserves. A negative propaganda is also necessary in the West to discourage the possession and purchasing of gold by it's own citizens. All this has been done with the hope that an economic recovery would remove any incentive to seek onwership of gold as an insurance against an economic downturn and consequent dollar devaluation. The reserves are probably close to exhaustion and soon there will be no extra gold to suppress the gold price. At the same time the economic recovery is too anemic to be self sustainable and is slowly falling into a new recession. It will be near to impossible to cope with a new recession (considering the enormous debt already built up) with a new round of money printing: there will be no more gold to cover for it. At that moment a reset will take place for the value of gold and it will be (as Mr. Greespan said) measurably higher.

Thu, 05/28/2015 - 21:26 | 6142138 buzzsaw99
buzzsaw99's picture

wooden horse walks into a bar and the bartender says why the log face? ba dump dump. relax, loosen up, just btfd and enjoy the ride dude.

Thu, 05/28/2015 - 21:31 | 6142152 That_shits_broken
That_shits_broken's picture

I'm not sure if we ever had free financial markets. We need to figure out how to profit from this insanity - putting all eggs in one or two baskets isn't going to work.

Thu, 05/28/2015 - 21:59 | 6142241 moneybots
moneybots's picture

"putting all eggs in one or two baskets isn't going to work."

 

Unless they happen to be the right baskets.

Thu, 05/28/2015 - 21:51 | 6142213 techstrategy
techstrategy's picture

We can end privately controlled fractional reserve banking phantom claim control fraud by converting TBTJ mark to unicorn "equity" and nearly infinite duration negative cash flow from operations and investing Chosen Protection Rackets (AMZN, NFLX and countless others) to gold, each and every day.  The GLD is allegedly allocated and audited.  It would take 75% of NFLX or 15% of AMZN to buy 100% of it and demand delivery, exposing their control fraud for the world to see (or 3% of TBTJ mark to unicorn equity, or less than 1% of all Protection Rackets).  There are orders of magnitude more essentially if not inherently fraudulent accumulated and derived phantom fractional reserve banking claims than real assets.  It's time to call and raise...

Thu, 05/28/2015 - 21:53 | 6142218 Phillyguy
Phillyguy's picture

The “future” for America is unending and astronomically expensive wars (paid for by US taxpayers), more money for the criminal justice system, more “temp” jobs- read low pay, no benefits, zero job security and more cuts to education, healthcare, infrastructure (more Amtak crashes). This is the (bleak) future for this country. It looks like Obama is getting ready for wars with the big boys- China and Russia. Expect this to go nuclear within 15 min of any hostilities. Obviously in the event of war, China and Russian military will target major US cities and energy infrastructure. US agriculture is heavily energy dependent- it takes 10 calories of energy to produce 1 calorie of food. The ave food commodity travels circa 1500 miles from production point to consumption point (eg. CA strawberries sold in Philadelphia), relying on energy intensive trucking for transport. Bottom line- those of us not incinerated in the initial nuclear attacks, will soon starve. My advice- start drinking good whiskey.

Fri, 05/29/2015 - 00:20 | 6142643 PhilofOz
PhilofOz's picture

I'm drinking plenty of good whisky, but I'm collecting and hoarding far more than I'm drinking.

Thu, 05/28/2015 - 21:54 | 6142225 moneybots
moneybots's picture

"Dave Kranzler and I have shown on numerous occasions that the bullion banks and the Federal Reserve make profits and protect the dollar by suppressing the prices of gold and silver."

 

All commodity prices have been dropping.

Fri, 05/29/2015 - 00:21 | 6142644 q99x2
q99x2's picture

Bitcoin last price: $237.97

Fri, 05/29/2015 - 08:53 | 6143223 teutonicate
teutonicate's picture

Great article ZH. This article is completely on the mark, and its fundamental premise is that PM prices are being artificially suppressed by massive futures shorting by cabalist controlled central and money center banks in order to artificially prop up the dollar (and other linked fiat currencies).  If fiat currencies collapse, they lose their power - it is a simple as that.

Their power is currently being used to 1) purchase tangible assets (including stocks, real estate, PM’s  and anything with tangible value) from European control on the cheap with overvalued fiat and 2) manipulate markets to facilitate the insider trading of their cronies.  If you find this hard to believe, I would suggest that you review the behavior of the cabal in numerous countries throughout the last 2000+ years of the history of Western (i.e. white European) civilization.  The examples throughout history are numerous and absolutely irrefutable (I would suggest you focus on the Roman Empire, Spain, England and Germany in particular – although almost every country has been infected by their abusive influence at one time or another).

I don’t claim to have any unique insights.  I and many other bloggers on ZH have identified the issue of PM price-manipulation at the hands of the cabal over and over again.  It is just a matter of time before enough people become aware of these crimes to take action.

The worst of it is that through their ability to print money via private CB debt monetization, the cabal can in effect use tax dollars to absorb the futures trading losses that result from dumping large quantities of short contracts on the paper PM markets.  Not only do they let their cronies know about these events in advance (so that they can profit from insider trading), but they are effectively able to fund the resulting losses from these necessarily unprofitable trades (because they are counter to the orderly process of real price discovery, and therefore not in accordance with economics) with tax dollars.  These tax dollars are largely paid by peoples of European descent – who are effectively the only ones still paying any taxes.  By this and other mechanisms they pump tax dollars into private cabal hands.

It is theft, pure and simple.

More specifically to the US (although this adversely effects all predominantly European countries world-wide) the overvaluation of the US$ that results from this artificial fiat support has contributed to the destruction of millions of manufacturing jobs in the US by making our industries uncompetitive with other countries that are no better at producing high quality goods then we would be absent this and other manipulated factors.  If these countries did not have a toxic cocktail of economic advantages vis-à-vis predominantly European countries (including the fiat overvaluation that is the focus of this article, freedom from protective tariffs, unlimited access to our markets, and the right to systematically abuse their labor pool at will) our manufacturing industries would never have left.  It is a well-known fact that the fabric of a society is undermined with job losses – especially in the manufacturing sector – which is the sector that is most correlated with the sustainable economic health of a society.  Flooding our society with illegal immigrants to drive Europeans out of the labor market is another toxic cabalist tactic to enhance their control of our nations.

Over time these effects erode our cultures, our peoples’ resolve, and our societies.

Let’s quite blaming the victims for the decline of European societies and nations world-wide, and place the blame squarely where it belongs – the cabal.

 

Fri, 05/29/2015 - 08:32 | 6143240 S Spade
S Spade's picture

note to Paul Craig Roberts....

Re: “It is amazing that there still are some Russians and some Chinese who want to be part of the sordid decadence that is the Western world."

I think you've got it backwards...it is the US and Euros mimicking the corrupt Russian and Chinese communist oligarchs that got us into this mess…authoritarian government worshiping leftists like yourself

 

 

Fri, 05/29/2015 - 13:52 | 6144371 DeusHedge
DeusHedge's picture

neoconservatives, neoliberals, it's all a bunch of bullshit.

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