“In short, the abundance of money in the economy should be related to the abundance of those factors. The harder we work, for instance, the more we create. There is more labour in the economy, therefore a rise in the money supply is legitimate in order to mirror this. There is nothing wrong with printing money per se so long as the printing reflects an expansion in the real economy.”
Here Come The Libor Liability Estimates – $6.4 billion
“If the 16 banks listed in the class action lawsuits shared equally, we estimate this would be a ~$400 million hit per bank.”
LIBOR Manipulation Leads To Questions Regarding Gold Manipulation
“However, like LIBOR the gold manipulation ‘conspiracy theory’ is likely to soon become conspiracy fact.”
How about manipulation of everything as the Gold Anti-Trust Action Committee have been saying since, oh, 1999 ?
And GATA’s assertions are grounded in facts not fantasy.
Perhaps this was the motive for holding gold in central bank vaults.
Gold market manipulation issue seeping into polite company
I will continue with more education and revelations related to LIBOR then money laundering then ‘vaporising’ money then ‘glitches’ at banks then Libya then Syria then general stuff. The links are in no particular order and do I hope people are enjoying the firework display.
UK Minister: “14 Banks Involved In Libor Scandal, Anyone Who Falsifies Market Indices Must Go To Prison”
The World Of LI(E)BOR And Worst Case Lawsuits
“If lawsuits start, banks have a few hopes, including “The ‘central bank’ made me do it” but banks will have to do everything they can to prevent being sued by 3rd parties. If they cannot prevent that, this could get very ugly in a hurry for some banks.”
US AGs Jump On The Lieborgate Bandwagon; 900,000+ Lawsuits To Follow
HOW DO LIKE THOSE FIREWORKS ?
Banks’ Defenses to Potential Trillions in Libor Claims Fail
“The big banks have been manipulating the world’s central economic indicator – Libor – for decades, harming homeowners, students, credit card holders, small businesses, cities and many others.”
Libor Scandal Could Turn ‘Ugly’ As U.S. Cities Begin To Sue
“That’s because interest-rate manipulation might well have kept your town or state from hiring firefighters or teachers, from paving roads or paying for indigent care or after-school programs for your kids — adding to the human suffering of the economic collapse these same banks caused in the first place.”
Think this is not a victimless crime ? Think again.
Refunds for mis-sold Payment Protection Insurance may be small beer by comparison to the refunds borrowers might be able to get.
Worth a call to the guys that do PPI recovery I think.
‘A cesspit’: Libor scandal may be going on elsewhere
“suggesting that other markets should now be investigated.”
The knives are out. How soon before the gallows ?
We’re powerless to get truth about bankers, says key MP
John Kampfner: This is no way to hold the powerful to account
“The failure of Parliament to get to grips with the many recent crises involving the misuse of money and power is exacerbating the original crimes and misdeeds of those involved. Politics has been seen, time and again, to be an ass. From spooks with their dodgy dossiers, to media moguls and their purchase of public policy through threats and inducements, to casino bankers, they have all got away with it.”
“The recent theatrics in the media about the LIBOR forgets to underscore the BIG picture. It is not the “BIG BANKS” or the Central Banks that is the problem. It is the cabal of financiers and the system that they have propagated for hundreds of years in the Western World and almost hundred years here in the US , that is the main parasitic cancerous growth.”
“The Hacks that are occurring in over 200 banks and their servers around the world is the Global Stealth Cyber Bank Run (GSCBR). It is the elites way of finishing off your wealth. The last touches before the carcass is burned to a hearth. The Bond market is finished, We all knew that there is a bubble in the bond market, This is the coup de grace that will not pop the bubble, but make it explode with the force of a thousand suns. America will be broke and barren in a blink of an eye! These are two events that I have been warning about are ones that will end your life on this planet as you know it. Your cash will be worthless, your country at a standstill, No money, No food, no essential services, AND WHEN IT ALL STOPS….. YOU STOP.”
Grant Williams: If They Can Rig LIBOR, They Can Rig Gold and Silver
Have Banks Been Manipulating Libor for DECADES?
The answer to that question is yes but for a lot longer than a few decades and not just LIBOR but every market. Attached you will find a picture of an inverted pyramid of asset classes created by John Exter (see https://en.wikipedia.org/wiki/John_Exter)
Wealth will transfer from top to bottom of this inverted pyramid in the crash that is guaranteed thanks to our debt-based monetary system imploding.
Silver Update 7/11/12 Broken Hedges
John talks about the futures market being destroyed so that precious metal retailers trying to hedge cannot hedge and risk going out of business.
The Transition From Conspiracy Theory To Conspiracy Fact
“As we have pointed out (and discussed last week with Turd Ferguson), the LIBOR fixing scandal likely may end up being the black swan event that publicly exposes the cartel’s manipulation of gold and silver.”
London Gold Pool – the previous conspiracy
I have oversized the words from the above Wikipedia entry that should interest everyone.
“The London Gold Pool was the pooling of gold reserves by a group of eight central banks in the United States and seven European countries that agreed on 1 November 1961 to cooperate in maintaining the Bretton Woods System of fixed-rate convertible currencies and defending a gold price of US$35 per troy ounce by interventions in the London gold market.”
This has to be done because gold is a superior store of value than the paper currencies printed by the central banks of the world but the general public must not realise this.
“The central banks coordinated concerted methods of gold sales to balance spikes in the market price of gold as determined by the London morning gold fixing while buying gold on price weaknesses. The United States provided 50% of the required gold supply for sale. The price controls were successful for six years when the system became no longer workable because the pegged price of gold was too low, runs on gold, the British pound, and the US dollar occurred, and France decided to withdraw from the pool. The pool collapsed in March 1968.”
“The London Gold Pool controls were followed with an effort to suppress the gold price with a two-tier system of official exchange and open market transactions, but this gold window collapsed in 1971 with the Nixon Shock, and resulted in the onset of the gold bull market which saw the price of gold appreciate rapidly to US$850 in 1980.”
It was only after the interest rate was voluntary increased to 20% that gold’s ascent was stopped and it declined but only to US$250. Today we have a zero percent interest rate environment and massive debts so we are not likely to see them voluntarily increased to that level. And when the current manipulation breaks, and they will because price controls never work in the long term, we are likely to see a revaluation similar in ratio to the US$40 to US$850.
“Foreign exchange market rates were fixed, but were allowed adjustments when necessary and currencies were required to be convertible. For this purpose, all currencies had to be backed by either physical gold reserves, or a currency convertible into gold and the United States dollar was recognized as the world’s reserve currency, as an anchor currency of the system.”
“By 1965 the pool was increasingly unable to balance the outflow of gold reserves with buybacks. Excessive inflation of the US money supply, in part to fund the Vietnam War, led to the US no longer being able to redeem foreign-held dollars into gold, as the world’s gold reserves had not grown in relation, and the payment deficit had grown to US$3 billion. Thus, the London Gold Pool came under increased pressures of failure, causing France to announced in June 1967 a withdrawal from the agreements and moving large amounts of gold from New York to Paris. The 1967 devaluation of the British currency, followed by another run on gold and an attack on the pound sterling, was one of the final triggers for the collapse of the pooling arrangements. By spring 1968, “the international financial system was moving toward a crisis more dangerous than any since 1931.””
Given the current dollar exchange rate for gold is US$2,000 and a similar revaluation ratio would mean US$40,000.
Given the current dollar exchange rate for silver is US$30 and a similar revaluation ratio would mean US$600 + 50% additional upside.
In the current crisis large amounts of gold are moving from New York, London and Switzerland to Asia, a situation that is unsustainable at the current dollar exchange rate for gold.
When our governments trot out a scapegoat for the coming crisis when it arrives, you should know that they are full of bovine excrement.
Silver Update 7/6/12 Silver Conspiracy … the current incarnation of the London Gold Pool
Federal Reserve Admits It Knew Of Barclays Libor “Problems” In 2007 And 2008
U.S. Gave Tens of Billions to Libor-Manipulating Banks … Even AFTER Learning about the Manipulation
“But did you realize that the Fed and Treasury threw billions of dollars of taxpayer money at Barclays and the other Libor-manipulating banks after they knew about the manipulation … and did nothing to stop it?”
The Liebor Land: What The BoE Said
“a lack of eligible collateral. Smoking gun maybe; nail in the coffin of independent Central Banks for sure; hangings in the streets – we are not so sure.”
The World’s Biggest Bank Just Got Thrown Into The Lieborgate Mess
“From Reuters: “Two Deutsche Bank employees have been suspended after it used external auditors to examine whether staff were involved in manipulating interbank lending rates, German magazine Der Spiegel reported, citing no sources.” Now what can possibly go wrong if the biggest bank in the world, with just shy of $3 trillion in “assets”, which just happens to have a 1.68% Core Tier 1 ratio, is suddenly thrust smack in the middle of the scandal that the Economist just aptly named the finance industry’s “tobacco moment”?”
The Lieborgate Circus Comes To The Senate
“SENATE BANKING COMMITTEE TO ASK GEITHNER, BERNANKE ABOUT LIBOR”
“Surely the wristslapping will be so profound, Geithner is already soaking his arm elbowdeep in vaseline.”
Guardian: Barclays chief Bob Diamond could be brought before Congress, sources say
“Congress will grovel before him the way they did Jamie Dimon.”
UK Serious Fraud Office To Begin Criminal Probe Into Lieborgate
Of course, because these are serious, serious, serious amounts of money being skimmed.
One basis point on $700 trillion is, on an annual basis, $70 billion, or on a daily basis, $191 million.
The LIBOR Scandal Is a Sham Engineered by Central Banking Elites?
“Thus, if misconduct by banks caused Libor to increase by a mere one tenth of one basis point (0.001%), this amounts to $35 billion (£22 billion) a year in extra interest”
My mathematics was off by a decimal point – in reality it is 10 times worse.
U.S. Gave Tens of Billions to Libor-Manipulating Banks … Even AFTER Learning about the Manipulation
“But did you realize that the Fed and Treasury threw billions of dollars of taxpayer money at Barclays and the other Libor-manipulating banks after they knew about the manipulation … and did nothing to stop it?”
Taibbi, Spitzer, and Kelleher On LIBOR – But Even They Don’t Understand the Bigger Picture
“The same parties involved in LIBOR are involved in manipulation across multiple markets, actively mispricing risk and misallocating capital to serve the greed of the privileged few.”
“And the pity is so few people get it. But they will. As I had forecast, this is the year of revelations.”
Liborgate-A Basis Point Here, A Basis Point There, Pretty Soon We’re Talking Real Money-Ty Andros–05.July.12
“Ty Andros joined us for another weekly wrap after a brief summer hiatus. Liborgate is the word on everyone’s lips these days. Seems the governments and central banks have been rigging the LIBOR (London Interbank Offered Rate) market for years. Over $700 trillion in loans, securities, and derivatives get priced according to this key rate. Why it’s coming out now is anyone’s guess, but it seems to this untrained observer as if there’s alot more coming down the pike that’s even worse. Not to mention the fact that Spain’s banks haven’t really been bailed out, despite the headlines to the contrary.”
“Off to California where the governor, who’s been detached from reality for many years, has decided it’s time to condemn through eminent domain, all the non-federal mortgages on the books in the Golden State and sell them off to hedge funds around the world, to bail out the underwater homeowners. While it may sound a bit like a juibilee as mentioned in the Bible, somehow, we don’t recall the hedge funds playing a role. Then all those silver shorts belong to none other than JP Morgan-Chase, according to noted silver analyst Ted Butler. What else is going on that matters any more?”
It Won’t Be Too Long Before The Gold/Silver Market Manipulation Scandal Goes Mainstream … BIG TIME!
“Times are finally changing. It will never be at the speed the GATA camp expects, yet slowly but surely our time is coming. The GATA camp will be proven correct and it will evolve into one of the most grotesque scandals in history … dwarfing the Enron, Madoff, MF Global and Barclays scandals combined, in terms of its effects on financial markets around the world.”
“First of all, it has come to my attention that in January 2011 JP Morgan, for some yet unknown reason, was compelled to stop manipulating the silver market. That is when the price of silver went vertical to the upside…”
Embry – Hang On Because The Chaos is Going to Accelerate
“Here is what Embry had to say: “The fact that this LIBOR scandal has come to the surface is interesting. It’s an indication of the depth of the corruption in the system. The LIBOR scandal is just one of the many manipulations going on in the world at this point.””
“To me, the best thing about the LIBOR scandal is more people are going to start waking up to the fact that virtually everything in these markets is fake….”
“The Chinese get it, and I think a number of the Eastern powers get it. They are just delighted that gold continues to be suppressed. From all of the information I get, more and more gold is headed in that direction (to the East).”
“I would also like to add that recently I have seen more comments discussing the degree to which allegedly allocated gold, in the banking system, isn’t there. You had a great interview a while ago with Egon von Greyerz on this subject. But I’ve seen subsequent comments that have confirmed everything von Greyerz was talking about.”
“Anybody that thinks they have allocated gold held in a bank, I would strongly suggest they go to that bank and ask for their gold immediately because I don’t believe a lot of it is there. In the end, I think some people who thought they had gold stored in a bank are going to get seriously hurt.””
Now onto the money laundering.
THIS ISN’T SATIRE: (Bailed-Out Behemoth) HSBC To Apologize At U.S. Senate Hearing For Terrorist Money Laundering
[Ed. Note: How is this NOT a Saturday Night Live sketch? Maybe because the harsh reality is this: HSBC has a long history of being a ‘criminal enterprise’.]
“Here are a couple of reminders:”
Money laundering not for a drug cartel but for TERRORISTS.
But … but … but …
shouldn’t HSBC be blasted into the sun as per the terrorist provisions of the unPatriot Act ?
Mexican Drug Cartel Laundered Money Through Bank of America FBI Alleges
“Just to be clear, BofA hasn’t been accused of any wrongdoing”
How about being absolutely incompetent ?
Are Western Banks and the Mexican Drug Cartel Inter-Dependent? BoA Implicated in Drug Related Money Laundering
“On Sunday, the Wall Street Journal reported that the Mexican cocaine-trafficking cartel Los Zetas used accounts at Bank of America Corp. to launder money. There is a distinct tie between Los Zetas and the second-largest US bank by assets, Bank of America, according to the Federal Bureau for Investigations. The FBI’s sworn statements cover about twelve transactions since December 2009 in which over $1.5 million was deposited or withdrawn from two BoA accounts.”
“Bank of America has yet to be raised as a suspect for drug-laundering. The case calls to mind Wells Fargo’s $160 million settlement with the Justice Department in 2010 part of allegations that the bank enabled drug traffickers to launder money by shifting it between Mexican currency-exchange houses and the bank. To be sure, Wells Fargo and Bank of America are not the only to banks to be named as institutions that have abetted money-laundering by drug-traffickers.”
In 2010 it was Wells Fargo and in 2012 it is now Bank of unAmerica and possibly others.
“In 2009, Antonio Maria Costa, in charge of the UN Office on Drugs and Crime, claimed that proceeds from organized crime were “the only liquid investment capital” available to many banks in 2008 during the banking collapse.”
“Drug money worth billions of dollars kept the financial system afloat at the height of the global crisis, the United Nations’ drugs and crime tsar told the Observer in 2009. He said that a majority of the $352bn disappeared during the crisis.”
JPMorgan Complicit In Vatican Bank Money-Laundering
“The Morgue may soon have a much bigger scandal and PR nightmare on its hands than a simply $9 billion derivatives loss.”
Vatican Money Laundering Scandal Grows…JP Morgan is Involved of Course
The Death of Price Signals and the Birth of a Faith-Based Financial System
“And, if you think of the ‘too big to fail’ banks as a cartel, you may be interested to hear about the actual criminal drug-trafficking cartel Bank of America has gotten mixed up with, as alleged by the FBI.”
Bank of unAmerica laundering money for criminal drug-trafficking cartel.
“Simon Mikhailovich, Co-Managing Member, Eidesis Capital, talks to us about the role derivatives play in the LIBOR scandal and in enabling bad decisions at systemically dangerous banks.”
A massively lucrative incentive exists to manipulate LIBOR as dates for derivative contracts expiration and reset come due given the change in value such manipulation would garner out of the $800 trillion derivative market.
9m10s “So the problem with Credit Default Swaps they are essentially are under-reserved or un-reserved insurance where institutions are selling each other protection which can not really be covered if the event occurs. The best example, real life example of how that happened was AIG.”
I have yet to watch any further into this video beyond 13m30s so no doubt I am leaving more juicy stuff unwatched.
Now onto the ‘vaporising’ money.
PFG Is Now MFG Part 2 As $220 Million In Segregated Client Money Has Just Vaporized
“Remember when the entire segregated account fiasco was supposedly fixed in the aftermath of the November 2011 MF Global bankruptcy, and where regulators: the CFTC, the SEC, the CME, and anyone you asked, swore up and down this would never happen again? Turns out that 7 months later, the spirit of MFG has struck again”
“On or about June 29, 2012 PFG reported to NFA that it had approximately $400 million in segregated funds, of which more than $225 million were purportedly on deposit at U.S. Bank”
“rather than the $225 million that PFG had reported as being on deposit at US Bank just days earlier, PFG had only approximately $5 million on deposit at U.S. Bank.” Translation: another $220 million segregated account pillage, in the vein of none other than Jon Corzine and MF Global.”
Unlike the 30% of MFG customers segregated funds being stolen, this is 50% being stolen.
Jefferies Begins Liquidation Of PFG Positions, Will Keep Proceeds In Segregated Accounts http://www.zerohedge.com/news/jefferies-begins-liquidation-pfg-positions-says-positions-secured-margin-cash
I hope that Jefferies is not the next FCM to suffer a shortfall in customers funds.
For Investors and Customers, PFG is MF Global all Over Again…
“More than $200 million in customer money is allegedly missing from the accounts of one of the largest, non-clearing, US futures commission merchants, PFG Best.”
“why did regulators miss this?”
The head of the CFTC is a former executive of Goldman Sachs.
They missed it because they have been co-opted by the epic gambling whores and fraudsters that they are supposed to regulate.
I Have Info For Anyone Who Wants to Sue the National Futures Association
“The National Futures Association needs to be sued into the ground by all of the PFGBest customers, as well as many of the NFA employees PERSONALLY.”
““I don’t actually understand any of this stuff. I just sign whatever comes across my desk.”
Lauren Brinati, June 2010”
“Lauren Brinati said that to my attorney in June of 2010.”
“This woman is DIRECTOR OF AUDITS AND INVESTIGATIONS”
Such ignorance for such a high office should scare the crap out of you.
“UPDATE: The NFA was mailing bank account confirmations to an UNVERIFIED PO BOX in CEDAR FALLS, IOWA that was actually rented by Russell Wasendorf, Sr. That’s how he was faking the balance confirms. That’s right, Lauren Brinati and the NFA auditing crew snail mailed account balance confirms, confirming HUNDREDS OF MILLIONS OF DOLLARS in customer funds to an UNVERIFIED PO BOX in CEDAR FALLS, IOWA. You simply cannot make this shit up.”
Such staggering incompetence.
PFG Isn’t The First Huge NFA Auditing “Oversight”
“So you think that PFGBest is the first time that the NFA has inexplicably “missed” hundreds of millions of dollars from a non-clearing FCM that they had under their auditing auspices?”
“Oh, you would be very, very wrong. Let me tell you the tale of Sentinel Management Group, a non-clearing FCM that operated as a hedge fund for other FCMs, that was a Ponzi scheme which when it finally collapsed in 2007, was “missing” $500 million.”
Rick Santelli: We Need to Follow The Existing Regulations … National Futures Association
“PFG … the word seems to be that money has been missing going back to 2010.”
I do not know what other signal the people with segregated funds at a futures broker need.
How Your Bank Account Could Disappear
“On the same morning we hear that ¼ of Wall Street executives think that fraud is a necessary part of “doing business” in the financial sector, we hear of a second “MF Global”. The U.S.’s so-called regulators are now reporting that somewhere around $220 million in customer funds is “missing” at a financial institution known as PFGBest; once again closing the barn door after all the cows have run off.”
“With at least one out of every four bankers at U.S. Big Banks (that’s how many admitted to being crooks in the survey) thinking that stealing is part of their job descriptions, it’s very important for people to realize how little protection there now is between these thieves and your bank accounts. Based on the writing of a number of other individuals with more expertise in these markets, it is apparently an inherently fraudulent banking process known as “rehypothecation” which is allowing the mass-plundering of accounts at U.S. financial institutions, with other Western financial regulatory authorities also rubber-stamping this relatively new form of bankster crime.”
“Rehypothecation is a heinous practice permitted by the pretend-regulators of Western markets, where financial institutions are allowed to pledge their clients’ funds as collateral to cover their own gambling debts. I say “inherently fraudulent” since few of the clients of these financial institutions would ever knowingly enter into contracts with these gambling-addicts where their cash could be used to cover their bankers’ gambling debts.”
PFG’s Chairman Was Forging Bank Documents For Years Even As The CFTC Gave An “All Clear”
“If there is an event that should cost Gary Gensler his job as head regulator at the CFTC, it is this. According to a just released Reuters report, the head of MFG(lobal) part 2, PFG, whose story we broke yesterday, Russell Wasendorf Sr. “intercepted and forged bank documents for more than two years to cover up hundreds of millions of dollars in missing money, a person close to the situation.“”
Is ‘Inept’ CFTC “The Get-Away Driver” For PFG?
““I expect to lose money because of the complete incompetence of the Federal regulators” is how Factor LLC’s Peter Brandt describes the farce that has rapidly become bankrutpcy for PFG Best to Bloomberg TV today.”
“Grand larceny… with excuses at hand.”
“On the heels of MF Global an audit was done” – an audit missed that some of PFG customer money WAS missing.
Now onto the ‘glitches’ at banks.
Second RBS computer glitch hits bank’s savers as 100,000 customers’ balances are not updated
The gift that keeps on giving.
Banking IT ‘Glitch’ Reaches Germany: Deutsche Postal Bank Halts ATM Transactions
“The IT ‘glitch’ that has entirely shut down RBS’ NatWest Bank and halted ATM transactions at Russia’s largest bank Sberbank, has now spread to Germany’s largest bank, Deutsche Postbank.”
“Deutsche Postbank Friday reported its own IT glitch that has completely paralyzed its ATM’s nationwide.”
“While this entire string of 21st Century Bank Holidays has received zero MSM coverage, it is appearing more and more likely that the derivatives domino chain known as insolvency has been triggered.”
When Will Your ATM Stop Working?-”Ranting” Andy Hoffman–09.July.12
““Ranting” Andy doesn’t believe in coincidences, just like FDR didn’t, and just like I don’t. Bank “glitches” seem to be multiplying and spreading across the globe. Has the system been compromised or have the banks just run out of money? Either way, the situation appears to be worsening and nobody is talking about it. Seems like it’s not being covered by the Main Stream Media or anyone else. Why would that be? The truth needs to be told now, not after the collapse.”
RBS ‘Glitch’ Goes Airborne As Biggest Russian Bank Halts All Credit, Debit Card Operations
Ulster Bank problems continue on busiest day of banking year
Now onto Libya.
‘Thugs, Islamists & chaos’ – welcome to New Libya?
3m10s “Basic tenets are maintained that a) the oil must flow and b) it must be denominated in (U.S.) dollars and I guess c) you don’t have someone who’s really going to challenge Washington.”
You can believe the ‘responsibility to protect’ doctrine if you want, I wonder if can interest you in buying the Brooklyn Bridge.
Libya must be kept on the Federal Reserve note slave plantation at all costs.
The Libyan Election Farce
“In Libya, a similar scenario has unfolded with two tiers of Western proxies poised to take power – pro-globalist technocrats like US-educated Mahmoud Jibril (Gibril) Elwarfally’s National Forces Alliance, and of course NATO’s terrorist proxies within the Muslim Brotherhood along with Al Qaeda-linked Libyan Islamic Fighting Group (LIFG) warlords like Abdul Hakim Belhaj.”
“In Libya, the nation has been plunged into nationwide lawlessness, violence, and sweeping genocide by sectarian extremists, tribal confrontations, and militant opportunists. The people of Libya have been too busy defending themselves and desperately fighting for their own immediate survival to function as a nation-state, let alone scrutinize candidates politically before the farcical Western-hyped elections.”
“What has happened in reality is that the so-called “Arab Spring” was planned by the West as early as 2008 with activists literally flown to the United States to receive training, funding, and equipment with which to return to their home countries and begin a campaign of coordinated destabilization. It was under this cover of seemingly legitimate peaceful protesting that more violent elements, organized as early as 2007 or even earlier (as was the case in Libya), began violently overthrowing regimes targeted, according to US Army General Wesley Clark, as early as 1991, with a complete list documented as early as 2001.”
Sham Libyan Elections
“Libyans call what NATO wrought “dimacracy.” Dima in Arabic is blood. NATO gains control by shedding it.”
Back to bloody anarchy: Andrew Malone revisits Libya
“Firing thousands of tank shells, mortars and missiles into residential areas” – provide proof.
“There was carnage” – provide proof.
“Rape was widespread, death everywhere” – provide proof.
“These Gaddafi fighters were the ‘worst of the worst’, I was informed – rapists and sadistic killers” – provide proof.
“All my guides were involved, saying they had held the legs of the prisoners while their throats were cut with bayonets. Every one of them denied killing any captives themselves” – did his guides believe whatever they were told and did not bother with establishing their guilt ?
“Gaddafi fighters suspected of rape or particularly brutal killings were slaughtered here for their crimes” – this was war and there was no time to establish guilt or innocence, is that it ?
“indiscriminate revenge” – you don’t need proof for that, do you ?
“But vast numbers never joined in the fighting – and are being attacked simply because their skin colour is associated with Gaddafi’s mercenaries” – finally, there is some sense being written.
“These men told how they repeatedly kicked a heavily-pregnant Tawergan woman in the stomach. One said: ‘The woman was shouting as we kicked her: “I could be your mother.””
“‘I told her my mother is not a black b***h,’ he added.”
“In a series of attacks, fighters from Misrata have opened fire on camp residents, killing both men and women. The latest happened at a camp for 1,700 Tawergans in Tripoli this week, when men from Misrata in four cars attacked with guns” – where is the ‘responsibility to protect’ now ?
I shall say that again,
Do you think I am angry enough ?
Is it because Libyan natural resource wealth is now in the hands of multi-national corporations that our public servants are now not interested in protecting the Libyan people being attacked right now ?
Now onto Syria.
Lesson for Brainwashed Minds: A Historical Perspective on Syria
“In the southern provincial capital Deraa protests took place in mid-March, when some youths who sprayed slogans against the president had been arrested. Police and security forces intervened, there were deaths and injuries, and the protests grew. Also in Homs and Latakia there were confrontations. Assad put down those responsible for the use of firearms and prohibited the use of live ammunition. Government officials visited the families of the dead, met with the population, and the young people were released. Assad’s spokeswoman announced far-reaching reforms. A bill repealing the state of emergency was to be presented shortly, as was a new party law and tougher laws against corruption. Hundreds of prisoners were released; the ban on female teachers wearing a face veil in class would be withdrawn. Kurds were to obtain full employment rights and their status as “stateless” persons were to be terminated. Assad dismissed the government and warned of a foreign plot to destabilize the country. That does not mean, according to Assad, that the Syrians had no reason and no right to protest.”
Everything They’re Telling Us About Syria….is False?
“But what the media are not mentioning is that Brigadier General Manaf Tlass did not defect directly from the Assad inner circle.”
“He had already fallen into disfavor early in the uprising and lost his command in May 2011—14 months ago. If you had that additional piece of information, you would interpret the news reports in a totally different way.”
“When a piece of evidence that contradicts the overall impression is absent from the reportage, the reportage itself is almost worthless.”
This omission may not be a telling omission to some people but then I would ask them what do they know about Syria ? About the Middle East ? About geopolitics ? About world history ?
“Remember the Houla massacre? Who carried that out?”
“Later, a dribble of accounts cast doubt on this, since the people killed were, by and large, themselves supporters of Assad. But few heard about these.”
Supporters of Assad indeed – I wonder how many Syrians, those not already murdered by who knows who, are supportive of president Assad ? And are we likely to told the reality by the corporate media ?
“Hence, you probably were unaware of an article from the Frankfurter Allgemeine-Zeitung, a traditional and serious German newspaper for whom I’ve written in the past.”
“The correspondent, Rainer Hermann, says that these eyewitnesses were Assad opponents, yet discovered that government backers were not responsible for the massacre.”
ANOTHER FALSE FLAG.
“Almost all of the accounts in major news organization stories are characterized as being from the opposition, almost all portray everything as caused solely by the regime, and almost all add the disclaimer that the information “could not be independently verified.””
Rather than knowing something is true or not true, these 5 words tell me that they want us to trust that it is true.
SYRIA [Please Watch This One] (47m)
“What are the forces at play in the world today? A question that remains unanswered by those entrusted to communicate to us, the truth. Yet we ourselves fall short from attaining it, not for lack of access, but because of an unbroken fear that has obscured our vision. This is the true story behind Syria.”
10m15s “Another force at play – foreign.”
I have yet to watch any further but I am sure that we are not seeing the real situation in Syria from the corporate media.
Are any of you starting to wake up to this ? You had better wake up and try to wake up others before the banksters have their puppets get us into World War 3 in Syria and in Iran and against China and Russia.
State Dep’t says it is ‘not consistent’ on human rights violations involving Israel and neighbors
“MS. NULAND: We have no reason to believe that it is not credible. It’s based on eyewitness accounts, and they’re reporting from a broad cross-section of human rights figures inside Syria.”
Translation: it’s bovine excrement.
“QUESTION: So the next time Human Rights Watch comes out with a report that’s critical of Israel for its treatment of the Palestinians, I’ll assume that you’re going to be saying the same thing, correct; that you think that the report is credible, it’s based on eyewitness accounts?”
“MS. NULAND: As –“
“QUESTION: And you’re not going to say that it’s politically motivated and should be dismissed?”
“MS. NULAND: Matt, as you have made clear again and again in this room, we are not always consistent.”
“QUESTION: So, in other words, anything that Human Rights Watch says that is critical of someone you don’t like, that’s okay; but once they criticize someone that you do like, then it’s not worth the paper it’s printed on?”
“MS. NULAND: Matt, I’m not going to get into colloquy on this one.”
Translation: does not compute.
Should we wonder why the corporate media is trying to sell us on intervention in Syria what with all this bankster fraud coming out of the woodwork ?
For the last time, the banking scandals were not caused by lack of regulation
“The bankers know they are busted for running a Ponzi scheme banking system that has finally collapsed, and are desperate to evade the coming firestorm of public anger demanding major changes to how bankers are allowed to operate.”
“We will see a lot more of this sort of bought-and-paid for bovine excrement coming out of the banks’ board rooms in the near future and appearing in any corporate media significantly owned by those same banks.”
The Guardian Agrees: Glass-Steagall is the Last Option to End Bankster Criminality
Spitzer is back! (July 2009) The man who was politically assassinated for his sub prime accusations in 2006 now says the FED is a ponzi scheme. He’s right. Again.
‘Stressed’ Bank of England official stabbed self to death
Managing gold, a policy challenge
“The lure of gold in India is an age-old phenomenon. Stringent legal or physical measures to curtail the appetite for gold did not succeed in the 40 years after Independence; they only encouraged smuggled imports at a very high cost.”
Are Banks Raiding “Allocated” Gold Accounts?
“In 2007, Morgan Stanley paid out $4.4 million to settle a class-action lawsuit by its clients after Morgan Stanley charged them to buy and “store” precious metals for them, but neither bought or stored the metals.”
“(Similarly, a 2011 class-action lawsuit filed in federal court in New York accused UBS Financial Services of misleading silver investors and charging them storage fees for metal that was never actually purchased, segregated, and stored for them.)”
Reuters: Survey Indicates Many Wall Street Execs Think Wrongdoing is Necessary
WARNING: The World’s Financial Market is Undergoing Total Collapse – JPM’s $150 billion total loss
[Ed. Note: This red alert warning comes from Steve Quayle’s international banking contact, V.]
“The whole entire western banking system is being flushed out, the whole house is being purposely burned to the ground in order to make way for the new.”
Roubini On 2013’s “Global Perfect Storm” And Greedy Bankers “Hanging In The Streets”
“In an extended interview with Bloomberg TV, Nouriel Roubini lives up to his doom-saying reputation and goes where few have as he opines on Lieborgate that: “bankers are greedy and have been for 1000 years” and “nothing is going to change” unless there are criminal sanctions; to which he follows up – briefly silencing the interviewer, “If some people end up in jail, maybe that will teach a lesson to somebody – or somebody will hang in the streets“. The professor goes on to note that the EU “summit was a failure” since markets were expecting much more and warns that without full debt mutualization, debt monetization by the ECB, or a quadrupling of the EFSF/ESM ‘bazooka’; Italian and Spanish spreads will continue to blow out day after day – leading to a crisis “not in six months but in two weeks”.”
“The only entity capable of stopping this is the ECB which needs to do outright unsterilized monetization in unlimited amounts which is ‘politically incorrect’ to talk about and claimed to be constitutionally illegal. 2013 will be a very difficult year to find shelter as policy-makers ability to kick-the-can runs out of steam as he sees the possibility of a ‘Global Perfect Storm’ of a euro-zone collapse, a US double-dip, a China & EM hard-landing, and a war in the Middle East. Dr. Doom is back.”
“Must watch 9 minutes of reality”
KWN Weekly Metals Wrap
“Bill, we’ve talked about the fact that you’re a monetary historian from time to time, over 40 years you’ve put into that but question is: looking back in history, I know this is unprecedented what we’re seeing today but is there anything that you compare this too ?”
“Eric, there’s nothing we can compare it to. We can’t compare it to what happened in Germany in 1923, we can’t compare it to Zimbabwe a few years ago, we can’t compare it to France during the French Revolution. Those were small incidents compared to this. The entire world is on a fiat monetary system. Not a currency in the world is redeemable in gold, not a currency in the world has a limitation on how many pieces of paper can be printed and we are in a situation where the debt is massive … the individuals may default but the sovereign nations will inflate away.”
Rick Rule: Mismatch of Silver Futures and Physical Availability is a Consequence of Stupidity
COMEX Silver Futures Skewed Short, Potentially Explosive
“As we noted in a short note posted on the blog on Friday, the GGRPrivate Video comments on what we viewed as a potential inflection point for the COMEX silver futures market, and “suggests a market skewed short as of Tuesday, June 26, which is contrary bullish and can lead to explosive volatility in our simple way of looking at the COT.””
“Lowest LCNS since September 10th 2001” – we are being given an opportunity to exchange paper for silver at an exchange rate at a 11 year bottom in sentiment.
“Managed Money – high short positions are high octane rally fuel.”
The Perfect Storm – Santelli Meets Farage … CNBC’s very, very special guest
Rick Santelli: Why Its Called the Pursuit of Happiness
“Pursue … we shouldn’t have any guarantees by anybody that you’re going to catch it.”
Rick Santelli: Barclays vs Central Banks and Death of Private Property
“The big seize: eminent domain.”
Steve Keen on the Minsky Singularity and the Debt Black Hole’s Event Horizon!
16m50s “Aggregate demand is income plus change in debt.”
See attached ‘USA Private Debt to GDP.JPG’.
18m40s “Private debt jubilee … quantitative easing for the public… we’re already in the black hole… we could abolish part of the mass of the black hole simply by saying ‘let’s reduce this debt level’.”
21m50s “They’re behaving not like a service sector to the economy but like a parasite on a host.”
I Want The Earth: Plus Five Percent
“The issue which has swept down the centuries and which will have to be fought sooner or later is the People v. The Banks.”
I think for those people who do not understand the unsustainability of a debt-based monetary system, the penny will drop by the 7th minute of this 45 minute video.
Another penny should drop at the 14th minute of the video as it is explained that 5% interest, under the fractional reserve ratio of 10-to-1, actually becomes 45% interest.
A third penny should drop at the 22nd minute when taxation comes along taking the excess wealth from the rich and give it to the poor but all the while the banking industry is receiving 45% interest.
25m45s “The whole country was in debt to him” – do you need to watch any more of this video ?
97% Owned (video) – UK documentary explains the problems of a debt based monetary system.
3m5s “There is no guide to how this whole system operates. To give you an example a researcher at the BBC working on documentary went to the Bank of England saying ‘can you give me a guide to how money is created ?’ And they just said ‘no’.”
4m5s “In 2010 the total UK money supply stood at 2.15 trillion pounds, 2.6% of this total was physical cash.”
I have yet to watch any further into this video but I am sure it will reinforce what I already know about our debt based monetary system.
The Secret of Oz – Winner, Best Docu of 2010 v.1.09.11 (Beloit International Film Festival)
This video gives people a real history lesson with figures you may not have heard about or heard correct things about, like presidents Andrew Jackson and James Garfield, and William Jennings Bryan and others you should have heard about, like Benjamin Franklin and Abraham Lincoln.
11m20s “In fact the only time Jesus became violent was when he chased the money changers from the temple. ‘He made a whip out of cords and … he scattered the coins of the money changers and overturned their tables.’ John 2:15 The Holy Bible (NIV).”
15m30s “So, in Rome we learned that with cheap government issued money the Roman Republic flourished but under gold money it perished.”
15m55s “1100 A.D. in England, there were no banks as we think of them today. What served as banks were goldsmiths, those who made the gold into gold coins. Although most people didn’t understand it, these goldsmiths controlled the economy of the nation ad thereby even the politics even in a monarchy. By acting in concert goldsmiths could either make money scarce or plentiful. When they made their gold money plentiful the economy flourished, when they made their gold coin scarce a depression set in and they could buy up assets for pennies on the dollar.”
19m25s “So, it is clear that tally sticks were used for smaller denominations too and worked well as effective and debt free money system for SEVEN HUNDRED AND TWENTY SIX YEARS. Without the crushing weight of debt based money England flourished into the greatest power on earth for many centuries.”
20m15s “Charter of Liberties 1100 A.D. … Magna Carta 1215… Parliament 1265… Serfdom banned 1600s … Shakespeare 1564 – 1616.”
21m45s “Bank of England, Founded 1694… Colonial America 1750-1781.”
23m20s “’In the colonies we issue our own money. It is called Colonial Scrip. … we control its purchasing power, and we have no interest to pay to no one.’ – Benjamin Franklin.”
23m50s “’The Colonies would have gladly borne the little tax on tea and other matters had it not been that England took away from the Colonies (their) money, which created unemployment and dissatisfaction’ – Benjamin Franklin.”
Behold, one of the real causes of the American War of Independence.
26m49s “U.S. Central Bank Era, 1781 – 1828… Bank of North America 1782 – 1785… 1st Bank of the United States, 1791 – 1811.”
31m10s “National Debt = Money Supply.”
31m50s “Some writers have claimed that the Head of the Bank of England warned that the United States would find itself involved in a most disaster war if the Bank’s charter were not renewed… within 5 months the War of 1812 was on.”
33m30s “2nd Bank of the United States… Andrew Jackson 1828 – 1836… ‘It is easy to conceive that great evils to our country and its institutions might flow from such a concentration of power in the hands of a few (who are) irresponsible to the people. Controlling our currency, receiving our public moneys, and holding thousands of our citizens in dependence … would be more formidable and dangerous than a military power of the enemy …’ — 1832, President Andrew Jackson.”
35m15s “’Nothing but widespread suffering will produce any effect on Congress … Our only safety is in pursuing a steady course of firm (monetary) restriction – and I have no doubt that such a course will ultimately lead to restoration of the currency and the re-charter of the Bank.’ – 1832, Nicholas Biddle.”
36m30s “’The bold effort the present bank had made to control the government… the distress it had wantonly produced … are but premonitions of the fate that awaits the American people should they be deluded into a perpetuation of this institution or the establishment of another like it.’ – President Andrew Jackson.”
37m5s “Their policies were essentially to cause inflation in various asset classes and then cause deflation and wipe out everybody who was in debt. It’s a pattern that has repeated throughout history.”
38m “Abraham Lincoln’s Greenbacks, 1860 – 1865.”
47m5s “The Crime of ’73, 1872 – 1881.”
“’It is advisable to do all in your power to sustain such prominent daily and weekly newspapers, especially the Agricultural and Religious Press, as will oppose the greenback issue of paper money… To repeal the Act creating bank notes, or to restore to circulation the government issue of money will be to rovide the people with money and will therefore seriously affect our individual profits as bankers and lenders… See your Congressman at once and engage him to support our interests that we may control legislation.’ – 1877, letter by James Buel, Secretary American Bankers’ Association.”
50m35s “He investigated the causes of the Black Friday gold market scandal of 1869 when financier Jay Gould and others cornered the gold market causing wild fluctuations in the price”
51m10s “’Whoever controls the volume of money in any country is absolute master of all industry and commerce… and when you realise that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.’ – 1881, President James Garfield.”
51m45s “’After Garfield’s assassination, the depression deepened, leaving (the) unemployed to face poverty and starvation. Produce was left to rot in the fields… The country was facing poverty amidst plenty, because there was insufficient money in circulation to keep the wheels of trade turning. The country sorely needed the sort of liquidity urged by Lincoln and the Greenbackers; but the bankers insisted that allowing the government to print its own money would be dangerously inflationary. That was their argument, but critics called it ‘humbuggery’…’ – 2007, Ellen H. Brown.”
52m40s “Free Silver, 1888 – 1894.”
54m30s “’On Sept, 1, 1894, we will not renew our loans under any consideration. On Sept. 1st we will demand our money. We will foreclose and become mortgagees in possession. We can take two-thirds of the farms west of the Mississippi, and thousands of them east of the Mississippi as well, at our own price… Then farmers will become tenants as in England…’ – 1891, American Bankers’ Association.”
55m20s “Silver, silver certificates, and Treasury bonds (that is to say, all the Government’s money) must be retired, and (interest bearing) National Bank Notes made the only money. You will at once retire one-third of your circulation (your paper money) and call in one-half of your loans. Be careful to make a monetary (emergency) among your patrons, especially among influential businessmen. The future (of our debt-based money system) depends upon immediate action, as there is an increasing sentiment in favour of Government legal-tender notes and silver coinage.’”
56m5s “Panic of 1893… 15,000 companies, 500 banks… Unemployed from 3% to 18%.”
1h0m15s “We must go forward cautiously and consolidate each acquired position, because already the inferior social stratum of society is giving unceasing signs of agitation. Let’s make use of the courts… When, through the law’s intervention, the common people will have lost their homes, they will be more easy to control and more easy to govern, and they shall not be able to resist the strong hand of Government acting in accordance with … the control of the leaders of finance.”
Every one who is reading this email is, in the opinion of the banksters, an inferior human being.
1h0m55s “(We) must keep the people busy with political antagonisms. We’ll therefore speed up the question of reform (of tariffs within) the Democratic Party; and we’ll put the spotlight on the question of protection … (for) the Republican Party. By dividing the electorate this way, we’ll be able to have them spend their energies at struggling amongst themselves on questions that, for us, have no importance whatsoever.”
1h2m50s “What we need is an Andrew Jackson to stand, as Jackson stood, against the encroachments of aggregated wealth. We say in our platform that we believe that the right to coin and issue money is a function of government. We believe it. We believe that it is a part of sovereignty… Those who are opposed to this proposition tell us that the issue of paper money is a function of the bank, and that the government ought to go out of the banking business. I stand with Jefferson rather than with them, and tell them, as he did, that the issue of money is a function of government, and that the banks ought to go out of the governing business.”
1h3m45s “they ask .. why it is we say more on the money question than we say on the tariff question, I reply that, if protection has slain its thousands, the gold standard has slain its tens of thousands… When we have restored the money of the Constitution all other necessary reforms will be possible; but that until this is done there is no other reform that can be accomplished.”
Read more on Will
1h10m55s “In the book version of ‘The Wizard Of Oz’ Dorothy’s slippers are made of SILVER as opposed to in the film version where Dorothy’s slippers are made of RUBY. You take away the silver slippers on the gold or yellow brick road and all the other symbolism tend to be lost.
1h11m40s “Scarecrow … The farmer, in fact, did understand the basics of economics.”
1h12m10s “Tin Woodman … what he needed was oil, more liquidity in the system… had joined the ranks of those unemployed in the depression of the 1890s, a victim of the unwillingness of the eastern goldbugs to countenance an increase in the stock of money through the addition of SILVER.”
1h13m10s “The last character to join the group is the Cowardly Lion. This … is … Bryan himself. The sequence is not accidental. Baum is following history in suggesting that the movement was started first by the western farmers, was joined … by the working man then, once it was well under way, was joined by Bryan. The roaring lion is a good choice for one of the greatest American orators.”
1h16m45s “It is not surprising that the layout of the Emerald Palace should reflect the numbers seven and three. The Crime of ’73 was a crucial event in populist monetary history.”
1h17m “The Wicked Witches … the two banking powers at that time were Rockefeller and Morgan.”
1h18m20s “Dorothy eventually kills the Witch by pouring a bucket of water on her, suggesting the liquidity that SILVER money would add to the economy breaking the stranglehold of the bankers gold money system.”
1h28m10s “State Bank of North Dakota … Actually, the state owned bank idea is nothing new. The Bank of North Dakota is only state owned bank in America. It was created in 1919.”
1h40m30s “’If our nation can issue a dollar bond, it can issue a dollar bill. Both are promises to pay, but one promise fattens the usurers and the other helps the people.’ – Thomas Edison.”
1h40m50s “’It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.’ Henry Ford.”
1h41m20s “Gold and money are separate things… Gold is the trick mechanism by which you can control money… that is the root of all evil.’ — Thomas Edison.”
1h50m25s “When a nation borrows from a bank, as proverbs tell us, the borrower becomes servant to the lender – that is not sovereignty… you have rule by banks… plutocracy.”
1h55m10s “Aristotle – 325 B.C. ‘For money was intended to be used in exchange, but not to increase at interest. And this term interest, which means the birth of money from money, is applied to the breeding of money because the offspring resembles the parent. Wherefore of all modes of getting wealth this is the most unnatural.’”
90 Seconds with Art Cashin: “There May Be a Clandestine Currency War Going On Here”
He’s damn well correct. The currency war is against you and me and rest of the general public.
One-on-One with (Yale Professor) Robert Shiller
“Shiller recently said that home prices may not recover “in our lifetime.””
Spain to Cede Bank Control http://online.wsj.com/article/SB10001424052702303567704577519091638685290.html?mod=googlenews_wsj
“to impose losses on local investors” – some investors are more equal than others, is that it ?
“Analysts said a significant proportion of such investors in Spain are small depositors who bought the securities through the banks’ branches” – they are learning the hard with their wealth being confiscated just what crooks the banksters are.
“”Senior bondholders within and outside of Spain may be protected whereas pensioners and the little guy who were sold these securities may have to bear a larger share of the burden,” said Sony Kapoor, managing director of economic think tank Re-define.”
Where is the concept of shared burden now ?
Report: Some lose homes over as little as $400
“If the taxes aren’t paid, the government auctions the lien to investors. Past investors include JPMorgan Chase, Bank of America and people who respond to Internet get-rich schemes, the report said. Homes typically are sold at steep discounts.”
Little more than government sanctioned theft.