from Silver Doctors:
When we first learned Sunday night that the FT was reporting that the CFTC was dropping their 4 year silver investigation, The Doc contacted CFTC Commissioner Bart Chilton for his take and role in the decision.
Just like Usain Bolt at the 2011 World Championships, it appears that the FT has jumped the gun.
Commissioner Chilton has informed us that ‘The Financial Times report related to silver is not only premature, but inaccurate in several respects‘.
As to whether Chilton believes the silver market has been manipulated the Commissioner informed us: ‘I continue to believe, consistent with my previous statements to which you referred, and based upon information from the public, that there have been devious efforts related to moving the price of silver. Incidentally, I also believe there have been silver and gold market anomalies outside of the silver investigate window that have raised, and continue to raise, market concerns.‘
The Doc’s full correspondence with Commissioner Chilton is included below:
Read More @ Silver Doctors
When we first learned Sunday night that the FT was reporting that the CFTC was dropping their 4 year silver investigation, The Doc contacted CFTC Commissioner Bart Chilton for his take and role in the decision.
Just like Usain Bolt at the 2011 World Championships, it appears that the FT has jumped the gun.
Commissioner Chilton has informed us that ‘The Financial Times report related to silver is not only premature, but inaccurate in several respects‘.
As to whether Chilton believes the silver market has been manipulated the Commissioner informed us: ‘I continue to believe, consistent with my previous statements to which you referred, and based upon information from the public, that there have been devious efforts related to moving the price of silver. Incidentally, I also believe there have been silver and gold market anomalies outside of the silver investigate window that have raised, and continue to raise, market concerns.‘
The Doc’s full correspondence with Commissioner Chilton is included below:
Read More @ Silver Doctors
by Economic Policy Journal:
This is big. Paul Volcker is the Rockefeller clean up man. He cleans up economic messes.
When the economy is in trouble, the Rockefeller’s turn to Volcker. In the 1970s, when inflation was getting out of control, David Rockefeller told then-President Jimmy Carter to put Volcker in as chairman of the Federal Reserve. Carter did as he was told. Volcker immediately came in and shut down the Fed printing presses (for awhile) and killed the hyper-inflation threat of that era.
This is big. Paul Volcker is the Rockefeller clean up man. He cleans up economic messes.
When the economy is in trouble, the Rockefeller’s turn to Volcker. In the 1970s, when inflation was getting out of control, David Rockefeller told then-President Jimmy Carter to put Volcker in as chairman of the Federal Reserve. Carter did as he was told. Volcker immediately came in and shut down the Fed printing presses (for awhile) and killed the hyper-inflation threat of that era.
Things are real bad. We are a few years behind Greece, but when the
crisis hits the U.S., it is going to be massive money printing by the
Federal Reserve or major defaults on state debt. It won’t be pretty.
Read More @ economicpolicyjournal.com.auDon Coxe – Get Ready, Gold To Re-Enter The Financial System
from KingWorldNews:
Today King World News is pleased to share with its global readers the investment recommendations of 40 year veteran Don Coxe. Coxe believes, “This schizophrenic period of gold and gold stock valuation is unsustainable.” He feels very strongly that “Investors need to invest where the demand is—and will be for coming decades.”
Coxe, who is Global Strategy Advisor to BMO ($538 billion in assets), also warned, “We remain of the view that what might be the only way for the eurozone to assemble enough firepower to give credibility to the markets is for governments which have gold to use it to back very long-term convertible bonds.”
He also issued this critical warning: “The euro’s death throes could take a long time. The elites may try to drag down as many innocent victims as possible to deflect attention from themselves.”
Coxe continues @ KingWorldNews.com
At approximately 3AM on Sunday morning (August 5th) there was a drive by shooting next door to his house in Wausau, WI. Wausau is a fairly small city with a population of around 40,000. About twelve hours after the drive by shooting, this military style vehicle rolled out at approximately 3PM and parked in front of my friend’s home.
I ask, what the hell does Wausau Wisconsin need with this armored military killing machine?? Notice the turret on top. According to my friend this is a police vehicle. It rolled down the closed street with its red & blue lights flashing.
If Wausau Wisconsin has one, how many of these are floating about the country, hidden from view?
Sorry to say this is the only photo, nobody was able to leave their home (12 hours + after the event, with no threat of a future shooting). The vehicle rolled up and the driver got out for a minute, got a quick photo, and he pulled into the yard of the neighbor and we were then unable to get anymore photos. I thought this needed to be out there for the world to see. This is not NY or LA, this is a small town of less than 40,000 people in central Wisconsin. There are 40 homes on the dead end street. This is getting the populace accustomed to seeing military style equipment. Thanks, I hope you can share this with your readers. – Tom
Here’s my response: Read More…
from Unconventional Finance:
Today King World News is pleased to share with its global readers the investment recommendations of 40 year veteran Don Coxe. Coxe believes, “This schizophrenic period of gold and gold stock valuation is unsustainable.” He feels very strongly that “Investors need to invest where the demand is—and will be for coming decades.”
Coxe, who is Global Strategy Advisor to BMO ($538 billion in assets), also warned, “We remain of the view that what might be the only way for the eurozone to assemble enough firepower to give credibility to the markets is for governments which have gold to use it to back very long-term convertible bonds.”
He also issued this critical warning: “The euro’s death throes could take a long time. The elites may try to drag down as many innocent victims as possible to deflect attention from themselves.”
Coxe continues @ KingWorldNews.com
It's A Matter Of Trust - Part 1
Human nature hasn’t changed in centuries. We have faith that humanity has progressed, but the facts prove otherwise. We are a species susceptible to the passions of power, greed, delusion, and an inflated sense of our own intellectual superiority. And we still like to kill each other in the name of country and honor. There is nothing progressive about crashing the worldwide economic system and invading countries for “our” oil. History has taught that there will forever be manias, bubbles and the subsequent busts, but how those in power deal with these episodes has been and will be the determining factor in the future of our economic system and country. Humanity is deeply flawed; the average human life is around 80 years; men of stature, wealth, over-confidence in their superior intellect, and egotistical desire to leave their mark on history, always rise to power in government and the business world; this is why history follows a cyclical path and the myth of human progress is just a fallacy.Key Events In The Coming Week And Month
After last week's event-a-palooza, where the headlines, the spin, the erroneous HFT trading, and the propaganda (Draghi is too cold; Draghi is too hot; Draghi is just right) just refused to stop, we finally enter the summer proper where all of Europe is on vacation, as is congress. Add on top of this a very light macro event week and an earnings season which has seen the bulk of companies already report, and we expect the volume in the coming 5 days to be among the lowest recorded in 2012, and thus in the past decade. Which of course means that the cannibalization among the market makers will continue as more and more firms succumb to "trading anomalies."
I received this e-mail from a reader tonight:
SGT, I recommend your site quite often and you’re helping bring
people around, including my friend. Here’s what happened to him last
night.At approximately 3AM on Sunday morning (August 5th) there was a drive by shooting next door to his house in Wausau, WI. Wausau is a fairly small city with a population of around 40,000. About twelve hours after the drive by shooting, this military style vehicle rolled out at approximately 3PM and parked in front of my friend’s home.
I ask, what the hell does Wausau Wisconsin need with this armored military killing machine?? Notice the turret on top. According to my friend this is a police vehicle. It rolled down the closed street with its red & blue lights flashing.
If Wausau Wisconsin has one, how many of these are floating about the country, hidden from view?
Sorry to say this is the only photo, nobody was able to leave their home (12 hours + after the event, with no threat of a future shooting). The vehicle rolled up and the driver got out for a minute, got a quick photo, and he pulled into the yard of the neighbor and we were then unable to get anymore photos. I thought this needed to be out there for the world to see. This is not NY or LA, this is a small town of less than 40,000 people in central Wisconsin. There are 40 homes on the dead end street. This is getting the populace accustomed to seeing military style equipment. Thanks, I hope you can share this with your readers. – Tom
Here’s my response: Read More…
from MOXNEWSd0tC0M:
from Unconventional Finance:
from TheAlexJonesChannel :
UPDATE: A family member whose parents were victims of the shooting said his parents told him there were “multiple shooters” involved in a “coordinated” attack.
UPDATE: A family member whose parents were victims of the shooting said his parents told him there were “multiple shooters” involved in a “coordinated” attack.
by J. D. Heyes, Natural News:
As the political debate heats up once more in the wake of yet another shooting massacre, it again becomes necessary to ask the nation to take a collective deep breath and stop to think about the real reason why the founding fathers included the right to keep and bear arms in our Constitution.
Cases in point: Legally armed citizens (and by that I mean Americans who have not otherwise forfeited their rights by committing crimes against civil society) who use their firearms in self-defense, or – even more honorably – in defense of others.
One such case involved an armed Utah citizen who recently used his gun to stop a knife-wielding man who had begun to stab people in a downtown Salt Lake City business.
Read More @ NaturalNews.com
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As the political debate heats up once more in the wake of yet another shooting massacre, it again becomes necessary to ask the nation to take a collective deep breath and stop to think about the real reason why the founding fathers included the right to keep and bear arms in our Constitution.
Cases in point: Legally armed citizens (and by that I mean Americans who have not otherwise forfeited their rights by committing crimes against civil society) who use their firearms in self-defense, or – even more honorably – in defense of others.
One such case involved an armed Utah citizen who recently used his gun to stop a knife-wielding man who had begun to stab people in a downtown Salt Lake City business.
Read More @ NaturalNews.com
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Texas and U.S. facing growing threat of domestic IEDs
from Chron:
Improvised explosive devices have claimed the lives and limbs of thousands of American soldiers across Iraq and Afghanistan.
And now officials say the devilish devices are posing a growing threat across Texas and the United States.
The accused shooter in the Aurora, Colo., movie theater massacre, James Holmes, allegedly deployed IEDs in his apartment, prompting federal law enforcement agencies to look into possible links to domestic or foreign-based terrorism.
The incident follows disrupted IED attacks in 2010 — a car bomb disarmed in New York City’s Times Square and explosives detected in ink cartridges aboard two U.S.-bound commercial cargo planes. And with Mexican drug cartels using car bombs in cities bordering Texas, officials along the southwest border are increasingly concerned about ready-to-go devices being smuggled into the United States.
“The domestic IED threat from both homegrown terrorists and global threat networks is real and presents a significant security challenge for the United States and our international partners,” Army Lt. Gen. Michael Barbero, director of the Pentagon’s so-called Joint Improvised Explosive Device Defeat Organization, warned Congress in classified testimony in mid-July.
Read More @ Chron.com
MUST WATCH...
I'm PayPal Verified
from Chron:
Improvised explosive devices have claimed the lives and limbs of thousands of American soldiers across Iraq and Afghanistan.
And now officials say the devilish devices are posing a growing threat across Texas and the United States.
The accused shooter in the Aurora, Colo., movie theater massacre, James Holmes, allegedly deployed IEDs in his apartment, prompting federal law enforcement agencies to look into possible links to domestic or foreign-based terrorism.
The incident follows disrupted IED attacks in 2010 — a car bomb disarmed in New York City’s Times Square and explosives detected in ink cartridges aboard two U.S.-bound commercial cargo planes. And with Mexican drug cartels using car bombs in cities bordering Texas, officials along the southwest border are increasingly concerned about ready-to-go devices being smuggled into the United States.
“The domestic IED threat from both homegrown terrorists and global threat networks is real and presents a significant security challenge for the United States and our international partners,” Army Lt. Gen. Michael Barbero, director of the Pentagon’s so-called Joint Improvised Explosive Device Defeat Organization, warned Congress in classified testimony in mid-July.
Read More @ Chron.com
from PlanetEarthAwakens01 :
“Between 10 and 10:30 four white males who were dressed darkly, dressed in all black clothing, came in and opened fire on our congregation … one of the gunman is down so there’s three left…” – witness
“Between 10 and 10:30 four white males who were dressed darkly, dressed in all black clothing, came in and opened fire on our congregation … one of the gunman is down so there’s three left…” – witness
MUST WATCH...
by V. Trotter, Chink in the Armor:
Anyone involved in the Casino industry will tell you that people will go to extraordinary lengths to “game the system”. Counting cards, while not illegal, is highly frowned upon and casino security are trained to spot the card counters. Once spotted, the counter is politely asked to leave, sometimes by brutal bouncers.
There is very little difference between the Casinos in Vegas and the Casino on Wall Street. One major difference is, bending the rules and outright cheating is not only condoned on Wall Street, but if you are one of the “market makers” it is expected. In Vegas, everyone knows the odds favour the house. On Wall Street, not only do the odds favour the house, but the dealers at the table have their own con going as well.
Case on point is FEDISCOPE, a patented business system invented by Bruce Tuckman of New York and assigned to and operated by Barclay’s Capital, Inc., also of New York.. This patented business system is described as “METHODS AND SYSTEMS FOR INTEREST RATE PREDICTION”. Here is the abstract:
Jim Sinclair’s Commentary
Jim Sinclair’s Commentary
Will We Have to Wait for a 21st Century Peasants’ Revolt Before Seeing Any Real Change? Posted on August 4, 2012 by WashingtonsBlog
Will the Peasants Go Medieval On Bankers?
While everyone from Tony Blair to Nouriel Roubini is debating whether or not bankers should be hung, the Wall Street Journal and Bloomberg provide some fascinating historical context.
The journal’s Jason Zweig reports:
Financial criminals throughout history have been beaten, tortured and even put to death, with little evidence that severe punishments have consistently deterred people from misconduct that could make them rich.
The history of drastic punishment for financial crimes may be nearly as old as wealth itself.
The Code of Hammurabi, more than 3,700 years ago, stipulated that any Mesopotamian who violated the terms of a financial contract – including the futures contracts that were commonly used in commodities trading in Babylon – “shall be put to death as a thief.” The severe penalty doesn’t seem to have eradicated such cheating, however.
In medieval Catalonia, a banker who went bust wasn’t merely humiliated by town criers who declaimed his failure in public squares throughout the land; he had to live on nothing but bread and water until he paid off his depositors in full. If, after a year, he was unable to repay, he would be executed – as in the case of banker Francesch Castello, who was beheaded in 1360. Bankers who lied about their books could also be subject to the death penalty.
In Florence during the Renaissance, the Arte del Cambio – the guild of mercantile money-changers who facilitated the city’s international trade – made the cheating of clients punishable by torture. Rule 70 of the guild’s statutes stipulated that any member caught in unethical conduct could be disciplined on the rack “or other corrective instruments” at the headquarters of the guild.
More…
Jim Sinclair’s Commentary
The CEO Plan to Steal Your Social Security and Medicare Posted: 07/30/2012 2:25 pm
Dean Baker
Many people are following the presidential election closely with the idea that the outcome will have a major impact on national policy. However, according to Steven Pearlstein, a veteran Washington Post columnist and reporter, it may not matter who wins the election. In a column last week, Pearlstein told readers that the top executives of some of the country’s largest companies are getting together to craft a budget package that they will try to push through Congress and get the president to sign.
While Pearlstein clearly sees these backroom meetings of corporate chieftains in positive terms (he refers to them as "grown-ups" who have been noticeably absent from the conversation about the budget), the rest of us might view this plotting a bit differently. As Pearlstein openly acknowledges, this corporate coup is an end-run around the electorate. As corrupt as the political process may have become, at least we will get a vote in the election. Pearlstein’s plotters are not inviting the rest of us into the conversation.
Many of the same folks who brought the economy to ruin just a few years ago are now going to come up with a plan that is supposed to set the budget and the economy on a forward path. At the center of their proposal are big cuts in Social Security and Medicare.
The most popular Social Security cut among this gang is a reduction in the annual cost-of-living adjustment (COLA) by 0.3 percentage points. They are betting that ordinary people are too dumb to notice this cut since it is a relatively small amount each year.
However, the effect of this cut accumulates into a much bigger deal over time. After 10 years it is roughly 3 percent, after 20 years it would be close to 6 percent, and after 30 years it would be close to 9 percent.
More…
Jim Sinclair’s Commentary
NY Fed To Restart Repo Operations Friday To Test Capability By Michael S. Derby
NEW YORK–Starting Friday, the Federal Reserve Bank of New York will implement a series of "small value" repo operations to test its capability to temporarily boost bank reserve levels.
In a statement Thursday, the New York Fed said the operations are a "matter of prudent advance planning" and "have been designed to have no material impact on the availability of reserves or on market rates."
What is more, it said, "these operations do not represent a change in the stance of monetary policy, and no inference should be drawn about the timing of any change in the stance of monetary policy in the future."
Operations by the Fed involving what are known as repurchase agreements, or repos, act to temporarily add bank reserves to the system by essentially borrowing bonds for a fixed period of time. Once a cornerstone of the day-to-day efforts to achieve the monetary-policy objectives set by the Federal Open Market Committee, the tool has fallen by the wayside as the central bank has moved to pursue massive purchases of bonds. The New York Fed noted that the last time it put in place a repo operation was on Dec. 30, 2008.
The New York Fed’s planned operations flow from changes made by the FOMC at its late June policy meeting. Then, officials altered the guidelines used for the implementation of monetary policy to approve the tests.
More…
Anyone involved in the Casino industry will tell you that people will go to extraordinary lengths to “game the system”. Counting cards, while not illegal, is highly frowned upon and casino security are trained to spot the card counters. Once spotted, the counter is politely asked to leave, sometimes by brutal bouncers.
There is very little difference between the Casinos in Vegas and the Casino on Wall Street. One major difference is, bending the rules and outright cheating is not only condoned on Wall Street, but if you are one of the “market makers” it is expected. In Vegas, everyone knows the odds favour the house. On Wall Street, not only do the odds favour the house, but the dealers at the table have their own con going as well.
Case on point is FEDISCOPE, a patented business system invented by Bruce Tuckman of New York and assigned to and operated by Barclay’s Capital, Inc., also of New York.. This patented business system is described as “METHODS AND SYSTEMS FOR INTEREST RATE PREDICTION”. Here is the abstract:
In one aspect, the invention comprises a computer-implemented method for predicting interest rates, comprising the steps of: electronically receiving data describing one or more Fed fund futures rates to obtain adjusted data regarding the one or more Fed fund futures rates; and electronically determining data regarding one or more expected Fed fund target rates. In another aspect, the invention comprises a system for predicting interest rates comprising: one of more processors operable to determine probability distribution data for one or more Eurodollar rates based on Eurodollar futures option data; one or more processors operable to link said probability distribution data for one or more Eurodollar rates to overnight forward Fed funds rate data; and one or more processors operable to link said forward Fed funds rate data to expected Fed funds rate data.Read More @ ChinkintheArmor.net
Jim Sinclair’s Commentary
Could this be the new brand of watch dog now required?
Jim Sinclair’s Commentary
The solution to financial criminality lies in history.
Will We Have to Wait for a 21st Century Peasants’ Revolt Before Seeing Any Real Change? Posted on August 4, 2012 by WashingtonsBlog
Will the Peasants Go Medieval On Bankers?
While everyone from Tony Blair to Nouriel Roubini is debating whether or not bankers should be hung, the Wall Street Journal and Bloomberg provide some fascinating historical context.
The journal’s Jason Zweig reports:
Financial criminals throughout history have been beaten, tortured and even put to death, with little evidence that severe punishments have consistently deterred people from misconduct that could make them rich.
The history of drastic punishment for financial crimes may be nearly as old as wealth itself.
The Code of Hammurabi, more than 3,700 years ago, stipulated that any Mesopotamian who violated the terms of a financial contract – including the futures contracts that were commonly used in commodities trading in Babylon – “shall be put to death as a thief.” The severe penalty doesn’t seem to have eradicated such cheating, however.
In medieval Catalonia, a banker who went bust wasn’t merely humiliated by town criers who declaimed his failure in public squares throughout the land; he had to live on nothing but bread and water until he paid off his depositors in full. If, after a year, he was unable to repay, he would be executed – as in the case of banker Francesch Castello, who was beheaded in 1360. Bankers who lied about their books could also be subject to the death penalty.
In Florence during the Renaissance, the Arte del Cambio – the guild of mercantile money-changers who facilitated the city’s international trade – made the cheating of clients punishable by torture. Rule 70 of the guild’s statutes stipulated that any member caught in unethical conduct could be disciplined on the rack “or other corrective instruments” at the headquarters of the guild.
More…
Jim Sinclair’s Commentary
The most endangered species on the planet is on two legs and is known as the pensioner/retiree.
The CEO Plan to Steal Your Social Security and Medicare Posted: 07/30/2012 2:25 pm
Dean Baker
Many people are following the presidential election closely with the idea that the outcome will have a major impact on national policy. However, according to Steven Pearlstein, a veteran Washington Post columnist and reporter, it may not matter who wins the election. In a column last week, Pearlstein told readers that the top executives of some of the country’s largest companies are getting together to craft a budget package that they will try to push through Congress and get the president to sign.
While Pearlstein clearly sees these backroom meetings of corporate chieftains in positive terms (he refers to them as "grown-ups" who have been noticeably absent from the conversation about the budget), the rest of us might view this plotting a bit differently. As Pearlstein openly acknowledges, this corporate coup is an end-run around the electorate. As corrupt as the political process may have become, at least we will get a vote in the election. Pearlstein’s plotters are not inviting the rest of us into the conversation.
Many of the same folks who brought the economy to ruin just a few years ago are now going to come up with a plan that is supposed to set the budget and the economy on a forward path. At the center of their proposal are big cuts in Social Security and Medicare.
The most popular Social Security cut among this gang is a reduction in the annual cost-of-living adjustment (COLA) by 0.3 percentage points. They are betting that ordinary people are too dumb to notice this cut since it is a relatively small amount each year.
However, the effect of this cut accumulates into a much bigger deal over time. After 10 years it is roughly 3 percent, after 20 years it would be close to 6 percent, and after 30 years it would be close to 9 percent.
More…
Jim Sinclair’s Commentary
Priming the pump or just pumping is all the same thing. QE to
infinity or a package of repos plus QE to infinity is all the same
thing. I believe that was one of the factors that gave both Gold and the
Dow a serious pop on Friday.
It does not matter what you call it, monetary stimulation via repos
and QE by the month are all the same thing because they result in the
same thing – a major change in the rate of creation of new money.
Regardless of whether it is direct and clean (called QE) or indirect via
the Shadow Banking System and called repos, they both are creation of
money out of thin air. It is all in rate of change as it has always
been.
Does anyone believe this BS test?
NY Fed To Restart Repo Operations Friday To Test Capability By Michael S. Derby
NEW YORK–Starting Friday, the Federal Reserve Bank of New York will implement a series of "small value" repo operations to test its capability to temporarily boost bank reserve levels.
In a statement Thursday, the New York Fed said the operations are a "matter of prudent advance planning" and "have been designed to have no material impact on the availability of reserves or on market rates."
What is more, it said, "these operations do not represent a change in the stance of monetary policy, and no inference should be drawn about the timing of any change in the stance of monetary policy in the future."
Operations by the Fed involving what are known as repurchase agreements, or repos, act to temporarily add bank reserves to the system by essentially borrowing bonds for a fixed period of time. Once a cornerstone of the day-to-day efforts to achieve the monetary-policy objectives set by the Federal Open Market Committee, the tool has fallen by the wayside as the central bank has moved to pursue massive purchases of bonds. The New York Fed noted that the last time it put in place a repo operation was on Dec. 30, 2008.
The New York Fed’s planned operations flow from changes made by the FOMC at its late June policy meeting. Then, officials altered the guidelines used for the implementation of monetary policy to approve the tests.
More…
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