There is an update process going on with many major banks and credit unions over the weekend, including Chase, Wells Fargo, First United Bank, CITIGROUP INC, BANCWEST CORPORATION, DEUTSCHE BANK TRUST CORPORATION, BDCU, BECU, Columbia Bank, Concord Bank, Five Point Credit Union, Kemba Credit Union, and many others.
Somebody should explain to the blathering numbskulls at CNBS that when just one firm accounts for 99.3% of the physical gold sales at the COMEX in the last three months it’s not what most of us on this side of the rainbow would consider “broad-based” selling.
According to Dr. Paul Craig Roberts, Assistant Secretary of the Treasury under President Ronald Reagan, all of this panic selling is the result of an orchestrated takedown of gold and silver...
This is an orchestration (the smash in gold). It’s been going on now from the beginning of April. Brokerage houses told their individual clients the word was out that hedge funds and institutional investors were going to be dumping gold and that they should get out in advance.
Then, a couple of days ago, Goldman Sachs announced there would be further departures from gold. So what they are trying to do is scare the individual investor out of bullion. Clearly there is something desperate going on...
In fact, Dr. Roberts says that former Goldman Sachs trader Andrew Maguire is reporting that the Fed orchestrated the dumping of 500 tons of naked gold shorts into the market on Friday...
Who has 16 million ounces of gold? At the beginning gold price that day of about $1,550, that comes to $24,800,000,000. Who has that kind of money?
Should the Cypriot bailout become a model for the future? The mere suggestion sent markets tumbling last week. But increasing numbers of European politicians would like to see bank shareholders and investors bear a greater share of crisis risk.
Investors take note: a major development is at hand. As bankrupt nations and banks continue to spiral downward there will be more and more desperate attempts to plug the holes in their balance sheets by any means necessary.
So in connecting all the dots, there is no question in my mind that the big price smashing of gold in mid-April was an operation designed to shake loose enough 400 oz. gold bars out of GLD in order to satisfy the enormous delivery demands coming from Asia, India and even within Europe. GLD is the only possible source of above-ground 400 oz. gold bars that could be used to satisfy this enormous demand for physically deliverable bars.
“What’s going to happen, is we’re going to have all the countries of the world, sit down and figure out what’s going to be the best, most orderly transition from the current system that we have, [which has] profound imbalance and unsustainable deficits…[this change] is going to happen as each country makes its preference known, because the system we have now is not transparent, and the biggest change [in the new system], is that there’s going to be transparency.”
The Times reports that the bank faces actions across eight regulators including: FERC, for a series of “schemes” to dupe state authorities to overpay for power and includes allegations that JP Morgan executive Blythe Masters lied under oath; using false documents when collecting credit card debt; and a failure to report suspicious trading activities by Bernie Madoff.
The Illuminati were amateurs. The second huge financial scandal of the year reveals the real international conspiracy: There's no price the big banks can't fix.
"It's a double conspiracy," says an amazed Michael Greenberger, a former director of the trading and markets division at the Commodity Futures Trading Commission and now a professor at the University of Maryland. "It's the height of criminality.
Bitcoin is a fantasy. The Internet’s currency—a secure, private, decentralized type of money that makes possible anonymous and virtually costless transactions across borders—contains the seeds of its own destruction.
The Rhineland-Palatinate state has bought a CD containing secret Swiss bank account intelligence. The information could yield €500 million ($654 million) in tax revenue. Government officials paid €4 million for the CD which includes 40,000 data sets.
Much more important, however, is the BRICS decision to set up a new development bank for long-term infrastructure. This is intended to rival, indeed, outclass, the Western-backed institutions. The underlying rationale is simple: the BRICS are determined to challenge Western political and economic dominance and, in particular, to break the dominance of the International Monetary Fund and the World Bank, which have not served the development needs of poor countries and have generally served only to put them into ever-increasing, un-repayable debt.
Perhaps the most significant outcome of the BRICS summit is the proposed creation of an optic fibre cable linking all five states (with relatively easy extensions to Iran and Indonesia). Indeed, it could be that the BRICS are constructing an independent global optic fibre internet system or at least an extensive one over which they will have complete control. The BRICS are intensely aware that the USA, denying the evidence of its own sixteen intelligence agencies, is pursuing a Zionist agenda against Iran which includes excluding Iran from the SWIFT international banking system and other banking transactions. The new cable should put an end to that.