Tuesday, August 23, 2011

Want to Smack Down the Criminal Global Banking Cartel?

Do you want to participate in smacking down the criminal global banking cartel? J.S. Kim, the founder of the consulting firm SmartKnowledgeU, explains how to do it.

Wednesday, August 17, 2011

High Crimes At The SEC: Time To Fire and Prosecute Mary Shapiro

This isn't just about Rome burning burning while Nero fiddles or Obama riding a bus through Podunk, Iowa while his wife travels abroad with an entourage of friends on the Taxpayer dime. This is about criminal liability at the SEC and those responsible for enabling corrupt Wall Street enterprises and thieves like Madoff to operate without fear of prosecution. If Obama does not take leadership in this situation and really shake up the SEC, including getting rid of Mary Shapiro, he may well go down as the worst President in history.

As one former SEC staffer describes it, the agency is now filled with so many Wall Street hotshots from oft-investigated banks that it has been "infected with the Goldman mindset from within."

Matt Taibbi of Rolling Stone has published an excellent report detailing how an SEC whistleblower has exposed the SEC's practice of destroying all documents connected to any investigative inquiries about possible illegal activities on Wall Street. As it turns out, there is a long legacy of SEC officials who are hired away into lucrative positions at big Wall Street firms as a means to squash any potential investigations into fraud and corruption based on these inquiries:

As Chavez Pulls Venezuela's Gold From JP Morgan, Is The Great Scramble For Physical Starting?


David Rosenberg's 12 Bullet Points Confirming The Double Dip Is Here


Tuesday, August 16, 2011

JP Morgan's Fractional Gold Scheme Is Working

The real reason JP Morgan recently decided to open and operate a Comex gold vault is now in full view. A close friend of mine in the NYC hedge fund community informed me today that hedge funds are now buying gold from JP Morgan, who turns around and "safekeeps" it for them for 15 basis points (that's .15%) on the market value of the gold being stored. My friend referred to this as "allocated" gold. On the surface it looks like the smart money "gold rush" is on.

But, in the wisdom of Shakespeare via Macbeth: "nothing is but what is not." The "what is not" part of the above business transaction is the full, 100% allocation of the gold being purchased. In other words, just as those of us who understand how the game is being played - and have pointed this out explicitly with proof from the GLD prospectus and other examples - JP Morgan is employing the traditional Wall Street/banking business model of fractional gold ownership. This is not new, as Morgan Stanley was successfully prosecuted for this same scheme several years ago when the firm was exposed for selling physical silver to high net worth clients - and "safekeeping" it for a fee. The scheme was exposed when a few of them demanded delivery and Morgan Stanley was unable to deliver the actual silver on a timely basis. Please use google to find the case if you are curious about the details. Only those of us intimately involved in the precious metals market at the time even bothered to care about this case.

Silver Market Update

Ready to launch?

Thursday, August 11, 2011

When will silver go up?

When Gold is very hard to get. Talked to a coin dealer and his connection to finding gold is getting harder. Very high premiums on new gold and now the Comex is raising margin rates again.

Saturday, August 6, 2011

S&P downgrades US credit rating

The downgrade, hours after markets closed on Friday, is a first for the U.S. since it was granted an AAA rating in 1917.

Thursday, August 4, 2011

Robert Prechter Jr. says buy Silver?

Had to post this one. Now even the deflationist himself is calling for everyone to buy Silver!