Jim Willie: Bullion Banks Have Pilfered 60,000 Tons of Gold From Allocated Accounts!

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Bernanke-Dimon-Fed-TunnelThe Doc sat down with Jim Willie for the 2nd part of an explosive interview this week discussing the likelihood of a coming bank failure contagion, and multiple signs of an impending implosion in the gold market.
Willie made the shocking claim that upwards of 60,000 tons of gold have been pilfered from ALLOCATED gold accounts by the bullion banks, & stated that the bars have been recast to remove the evidence, and are now physically held by Eastern parties such as William Kay’s hedge fund.
Willie stated that the allocated gold account theft scandal will break soon, and could be the largest bank scandal in history.
Willie discussed the current gold shortages amidst unprecedented global demand and stated that the COMEX & LBMA futures price for gold is becoming a farce as their is not enough physical gold to clear demand!

The Golden Jackass also discussed the likelihood that the next Western bank to fail will trigger a massive contagion throughout the Western banking system, potentially bringing even Goldman Sachs and JP Morgan to their knees!
Jim Willie’s full MUST LISTEN 2-part interview with The Doc is below:

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Click the youtube play button below or download the podcast for The Doc’s full MUST LISTEN 45 minute interview with Jim Willie, and be sure to check out the launch of TheNewsDoctors.com – Changing the Way You View News!

With COMEX gold inventories plummeting and the LBMA GOFO rate negative for nearly 20 days, The Doc began by asking Willie for his thoughts on what is currently going on in the gold market:

I just wrote an in-depth public article on the gold supply vs. demand.  We’re not seeing the true price of gold reflected- there’s no equilibrium.
The most important point to start with regarding the gold market is that there’s no equilibrium regarding supply and demand.   According to basic economics, what you should see is that demand clears supply and the supply satisfies the demand.   We’re not seeing either!  We’re seeing shortages and huge demand.   Shortage in supply, and unspeakable demand across the whole world.   We’re seeing pockets of shortages, pockets of different availability, different prices here and there, different premiums here and there- the whole market is disrupted!

We don’t have the true price of gold being reflected by the official COMEX gold price.   The COMEX gold price is farce!  The COMEX/ LBMA tag team are a joke, they’re a criminal enterprise!   The dominant player in the COMEX gold inventory draw-downs you mentioned is JP Morgan.   What’s even more telling of the criminality besides the empty vaults is the ravaging and the pillaging of the GLD holdings!    They are going down massively with the plummeting JPM and COMEX inventories.

There is some arbitrage going on, and satisfaction of deliveries.  The Shanghai Gold Exchange has a premium of $20-$4o higher than COMEX.  There are rumors that the Wall St. banks are taking GLD inventory, and selling it in China!   There is other evidence that the volume for gold deliveries at the COMEX are almost identical with the drawdown of the GLD inventories!

It’s so ugly that in the silver market, JPMorgan has not yet satisfied and delivered on the June silver futures contracts!  It’s so ugly that using hidden entities that Andrew Maguire has detected in London, JPM is using hidden entities to hog 90% of the July silver deliveries!   It appears that JPM doesn’t have the silver to meet June delivery, and is trying to replenish their own vaults by taking delivery in London, secretly, to replenish their inventory!   Where are they getting it from?  Maybe the SLV!

The JPM clients have removed between December and June- close to 40,000 kg of gold- thats 40 metric tons.  While JPM’s house account has removed over 40 tons in the same period!  What’s the lesson there?  It appears JPM’s best friends and clients don’t trust them anymore!

My best source (originally a trader with Scotia Mocatta) tells me that the allocated gold account raids have resulted in 40-60,000 tons of gold!   (The US likely doesn’t have any of its reported 8,500 tons left at all!).   Rubin and Clinton might have made $2-$3 trillion leasing and selling the US gold.  Someday the US may have to replenish its gold.

We’ve had other things like ABN Amro’s default, and another small Dutch bank just made the same statement that they’re not going to redeem on gold accounts.   Morgan Stanley is stalling on every single metals transfer request.  When it is finally transferred the serial numbers and weights are different than what was documented.  Clearly the broker dealers are going into the market to find the gold, to find supply just in order to meet their daily requirements.

The Brinks’ accounts are going bare and are almost down to zero – these are all problems on the supply side!

As soon as the allocated accounts are raided, they send the bars to the refiners to get the bars recast so that the evidence is gone- as William Kay advised is happening in Hong Kong!   If William Kay’s hedge fund now owns some German or Swiss guys’ gold, what is their recourse?  They have none!  They only have a paper claim against the bullion bank!  They can’t go make a claim against the Hong Kong hedge fund manager who now actually owns their gold! 

Allocated gold account holders don’t own gold.  They THINK they own gold, but they own paper certificates! 

 

When the next big Western bank fails, they won’t be able to play the kind of games that they have in the past, and its going to reflect on gold.   Its going to be much more evident that there is no safe haven [in the banking system] – look, tomorrow we could have a bail-in with account confiscations!

We’ve also had MF Global since Lehman’s failure, which made it very clear that private brokerage accounts and futures contracts- they’re not safe either!
So where’s the safe haven?  Everything points to gold!

The allocated gold account scandal is really brewing!  Egon Von Greyerz of Matterhorn Asset Management talks frequently  how the Swiss bullion banks are denying their clients’ requests to even LOOK at their gold, much less take it out!  These bullion banks are going to be buyers!  They have been buyers!  You have these long delays on transfers like at Morgan Stanley for instance.   Its because they don’t make the transfers right away because they don’t have it, they have to go out and find it!
When they go out and find it they push up the price with new demand!

The bullion banks who have improperly leased, sold, and rehypothecated allocated gold accounts- they’re replacing their sold & missing bars so that the account holders don’t file lawsuits and criminal prosecution charges.  So there’s alot of demand that is behind the scenes, and it’s just like a crime scene, but the governments are doing their best to cover everything up, they’re not enforcing law.   There is no rule of law in the West anymore.   Instead we have the Fascist business model, merger of state and corporations and complete license for criminality & fraud by the banks.

 


When asked by The Doc to clarify his recent claims that Deutsche Bank may be near collapse, Willie responded:

newsdocsMy best German source informs me that 3 major banks are in trouble, and these 3 banks are fighting every single night to fight off insolvency and failure.  He says CitiGroup in New York, Barclays in London, and Deutsche Bank in Germany- every single night are in trouble.  

The important thing to keep in mind about Deutsche Bank is that it won’t go down alone if it goes down at all.  If it fails, it will take along with it 3,4,5,6 or 10, or 15 other banks!   It will be 1 or 2 quickly, then a 3rd and 4th a few weeks later, another, then before you know it, all of Italy and their major banks would be kaput.

My belief is that Deutsche Bank and its constant overnight risk of failure is somewhat tied to derivatives related to LIBOR, and also a risk related to their FOREX derivatives.   In other words, derivatives that the banks use to balance off the currencies.

Believe it or not, in the derivatives world, gold is treated like a currency.  Isn’t that ironic?
The FOREX derivatives that the banks are involved in are very much tied to gold.

The big immediate threat for Deutsche Bank though has to do with their problems in hiding debt for the Sovereign nations applying for the Eurozone.   For example, Greece and Italy couldn’t have their debt ratios over certain levels, so what Deutsche Bank did was they turned nice big chunks of Sovereign debt into currency swaps.
For an example of how this works: Suppose you have a $250,000 bad business loan that is stinking up your credit report.  So you call up your favorite Deutsche banker (or Goldman or Morgan- pick your criminal enterprise that is your personal favorite) and you tell him, look I have a $250,000 debt here and I want to make it go away.   They say OK, we can do something clever here.  We can pay off your debt so your credit report looks good, and we can establish this $250,000 Euro swap, and we’ll keep it off the books!

So you have this $250,000 bad loan stinking up your books, it goes away, and is replaced by something hidden- a euro currency swap!  That’s precisely what was done on a larger macro scale by Greece and Italy- and Deutsche Bank is involved with several of these, and the total that is becoming disclosed is $400 Billion.    Apply your typical ratios and you can conclude that they are $10, $15, $20 billion short for capital requirements!

The big banks are so criminal that they have converted fraud and criminal activity into a small cost of doing business!

 

When asked to clarify his statement that a failure of Deutsche Bank would likely result in a contagion of bank failures Jim Willie responded:

Deutsche Bank is in a slightly different situation than Barclays, even though Barclays just announced a 12.8 billion capital shortfall Tuesday.  The former Deutsche Bank CEO Ackermann was forced out last year.
Interpol came into Ackermann’s office and conducted a financial document raid.  There’s a new sheriff in town. Sources indicate that big, powerful Eastern interests hired Interpol to clean things up.

We had events in April, May, and June in which 5,000 metric tons of gold were lifted out of London.  Eastern entities were angry as hell that their gold had been leased and rehypothecated.  The London banks used the Easterners’ gold as equity for futures contracts that went bad- like in Spanish, Greek, and Italian debt. 

Deutsche Bank’s CEO could not withstand an assault on their office to retrieve data, even though he appealed to several high level politicians.

Fast forward to July 2013, and now we are seeing several Deutsche Bank Vice Presidents being indicted under various fraud charges, and they are almost all cooperating with Interpol!   They’ve flipped to cooperate with the serious fraud division of Interpol.

London and New York remain fortresses (for the cartel banksters), but Frankfurt might be in the process of being penetrated.

Silver Buffs Generic Add2Getting back to your question as to why a Deutsche Bank failure would be different than Lehman Brothers, it’s because they are involved with all the different Sovereign bonds!   Spain, France, Italy, Greece, they’re involved with all of them and their balance sheet qualifications for the European Union! 

Deutsche Bank is involved very closely with all of the Eurozone currencies and bonds, and they have massive swaps interwoven with all the major Western banks.
I have a client informing me that Deutsche Bank has a bunch of swaps that they wrote against Detroit muni bonds!    Deutsche Bank has their fingers in alot of different pies!  Lehman Brothers was involved in numerous mortgage instruments.

Dont bet your money that Deutsche Bank will go down, but if it does, the next day its going to be Citi, Barclays, HSBC, Morgan Stanley, Soc Gen, and big threats to JP Morgan and Goldman Sachs! 

In conclusion, Deutsche Bank owns $25 trillion in OTC swaps with the Central banks and other major banks, so expect a daisy chain of derivative failures for the $1.6 quadrillion derivative market if it were to fail! 
Deutsche Bank cannot break down by itself.  It would result in the complete breakdown of the European Monetary Union!

In today’s world when a big bank dies, they merge them with another big bank.  Another European bank, potentially Barclays.   I think we are going to see massive amounts of money flooding into gold!

A bank failure contagion, that’s whats going to push gold way over $2,000/oz again.
Silver is going to be moving over $100 and gold is going over $5,000, I’m as certain of it as I am that the sun will rise in the east in the morning come January.

 

Eagles sale(2)

 

Comments

  1. Friday will be a good day to so some stacking.

  2. Was I asleep at the wheel? Did I miss a brief announcement? These brand new additions of dedicated News and TV modules on the web-site came as a total surprise to me! A very delightful surprise! You busy beavers, you! I’m VERY impressed. So, Doc, when are the browser menu bar plug-ins anticipated to be ready?

    Willie’s revelations were pretty amazing and whether or not they unfold as fact or rumor, or if factual, suppressed by FURTHER criminal circumvention, they’ll be a pretty fascinating stories to keep in mind as ‘road markings’.

  3. Morning Pat   NewsDoctors is sweet.  Good original content and a nice data aggregation too boot
    The latest theft from England’s bank of 1,300 tons, somehow related to the app that doesn’t show the real inventories reminds me of the promises of our president.  My administration will be the MOST transparent in history. And the movement of gold will be the most transparent in history.  And the balance sheets of TBTF banks will be the most transparent in history  Blah, blah, blah. 
    Thefts of this nature are well concealed and yet so obvious they are as clear as a large turd in a punchbowl of lemonaid. 
    BTW  I think the reason we are seeing a  slowdown in  the drop in the GLD inventories is due to the gold leasing/sale reported by Alistair McCloud on Max Keiser’s channel. If GLD has anything left in the vaults, it might not have been needed which the UK bank was stripped of gold.
    GLD is probably bereft of gold. SLV is probably empty too.

    •  
      I tell you … the sequencing of all this and increasing seriousness of portent with each surfacing block of info is shrieking louder and louder … SOON NOW, VERY SOON NOW. Whatever’s left they can wrangle from those poor ETFers is probably the bottom of the barrel.

    • The whole ETF thing from the SLV standpoint worries me. They purportedly have a lot of silver in there (recall earlier this year when thousands of tons of silver was magically deposited in slv over night.
       
      The drawdown of SLV when and if the time comes could be ugly for us.

    • Yeah, http://www.theNewsDoctors.com is a good looking site.  I’ve added it to my daily read list.  Doc, I always thought your ‘SD News Wire’ tab was great, but the new web site blows that away even.  Well done.

    • And the comex is empty and London is out of PM’s too. We are seeing a giant ponzi scheme that is ready to blow apart.

    • @UglyDog – thanks, we have some pretty exciting things planned for thenewsdoctors. 
      For starters, Eric Dubin has been hired as full time managing editor, effective Monday 8/5!

      -Doc

    • @AGXIIK
       
      “My administration will be the MOST transparent in history.”
       
      Which only goes to show, when you are going to lie… LIE BIG!  Fools will always believe that… and they can vote!
       
       

    • @Ed_B
      His Administration IS the most Transparent in history! The NSA can even read the presidents emails :P

    • @WillNotBeASlave
       
      Yeah, his administration is so transparent it’s like it’s not really there at all… at least in the leadership category.  It’s more than merely there in the trampling of the US Constitution, though.  As illumination, it’s a bit like a 5-watt bulb in a 100 watt world.
       
      It would be HILARIOUS if some patriot at the NSA were to “accidentally” leak a few of the juicier White House conversations to the Internet.  Might be good to know what these people are up to now.  ”Phony scandals”, indeed!

  4. Being someone with a probationary tinfoil hat, I love listening to Free Willie, but in the same breath one must take measure with all the information, especially as it delves into the fringe and beyond.
    With respect to banks or funds covering their tracks, could be, but the reality is, so few idiots would have the faintest clue about what we talk about when we talk gld draw downs (even supposed financially savvy people) that IMO short of the next real emercency – the usual criminals will operate with impunity. Furthermore, even after some cataclysm – the reason for it will doubtlessly papered over – and folks like us will understand, while the vast majority of others will blame a rogue trader, an iranian cyber attack or some other mongoloid excuse. That being said I’m elated that their shenanigans are being exposed at least in some measure. The perma bears here talking ring fenced QE funds and potentially low demand leave the fact out that the very price discovery mechanism for the metals has been hopelessly distorted and what the real value, absent a relentless campaign to beat it down, of the precious metals is – is unknown and certainly higher than it is now.
    This shell game, india and pakistan criminalizing gold purchases, mining troubles, clear evidence of massive demand in china / middle east, gofo negative, backwardation all point to the market itself edging closer and closer to hitting the wall. IT can’t come quick enough.
     

    • >>>Being someone with a probationary tinfoil hat
      We’re ALL tin foil hat wearers now. When the bank holidays are called I already have some tin foil hats per-prepared as gifts for those who I still through pity call my friends, who have called me a nutcase for even attempting to explain that the Western banking system is simply a Mafia organization, and that the court system is simply their secretarial branch.
      From the article;
      In today’s world when a big bank dies, they merge them with another big bank.  Another European bank, potentially Barclays.   I think we are going to see massive amounts of money flooding into gold!
      Why don’t all the banks in the Western IMF system just become subsidiary outlets of the World Bank? … or are they already by default and have simply not declared it in order to create an image that there is some competition and not simply a cartel? They’re simply repackaged 1′s and 0′s with a disclaimer stating that they are backed by ‘re-hypothecated collateral’…re-hypothecated poop!
      I still have friends with Economic degrees who defend this rubbish and call me a nut for suggesting there is anything criminal. This is the Planet of the Apes, and the general public are apes working on a monoculture Banana plantation, picking 100 Bananas a day and getting 2 bananas wages for the effort… meanwhile the Big JP Morgan monkeys are sitting on piles of excess bananas that they can’t even eat fast enough before they rot.
      PLANET OF THE APES!!!
      What’s the bet that the head monkeys have done deals with the ‘Kings Of The East’ and have their plane tickets booked after the theft has been completed? Where the actual physical IS and who owns the physical is the only fact that matters, the rest is all just fraudulent snail trail ‘economics’.
       

  5. Bullion Banks Have Pilfered 60,000 Tons of Gold From Allocated Accounts!
    -  -  -  -  -  -  -
    Meanwhile, they have pilfered ZERO oz of gold from my Phyzz acct.

    • You got that right, Woolly.  In spite of all the gold and silver price gymnastics lately, not to mention considerable skulduggery, every single ounce in my stack is still solidly in place.  Allocate this!  :-) 

    • @ Ed_ B
      >>>every single ounce in my stack is still solidly in place.
      For now. Wait till they send round the goons! ‘THEY’ will do Anything to keep this fraud going for even an additional year. History says that when the SHTF Politics will involve itself as a proxy for Finance (Crime);
      .
      5th Ammendment
      No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offence to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.
      .So FDR thought ‘just compensation’ was $25/oz and then it went to $35/oz after confiscations. Did he break the amendment? Who decides what is or is not ‘just compensation’ in a confiscation for ‘public use’? Is giving the publics Gold to banks so that they can sell it overseas to prolong their ponzi a ‘Public use’ or an outright theft? Were MF Global allocated customers given ‘just compensation’, and was there any ‘due process of law’ in that instance? Will the confiscation price (compensation) given to those who turn it in be the London Fix that was frozen at the bottom of the ‘market’ when the bank holiday IS declared and the prices frozen? (ie, well before it is realized that all along the physical was worth at least $5000/oz … $10000/oz. If you refuse to hand it in and then the NSA data collected from perhaps people who frequent Silver Doctors and are known to have physical leads to raids and the Contraband is found you will get $0, lose the rest of your ‘private property’ and go Direct To Jail, Do Not Collect $200!
      .
      If there is soon to be no Gold in all the ‘allocated’ accounts and THEY need the actual physical to supply the Eastern flow, then your personal safe looks quite attractive for an IRS raid if public holdings of PM’s are deemed ‘Taxable’ under the unlawful Tax Code or some other chicanery of choice, or simply labelled Contraband (It would be the IRS policing such a decree I believe and you could bet the perverts at the TSA will be there to provide the required man power).
      .
      The only Amendment left of any substance is the 2nd, the rest have been overly violated and 1st is only tolerated by TPTB because they know the democratic majority are dunder heads who don’t understand anymore how to do basic arithmetic let alone understand how the Fiat Abomination they call an economic system even works at the fundamental level.
      .
      God help us, but when the City of London goes into meltdown Politics will kick in throughout the Western World and get involved, and nothing will be sacrosanct. Private property is only your property whilst you can repulse an enemy invasion at your front door.

    • WillNotBeASlave
       
      As I see it, the only thing Ruse-a-veldt did was to raise the ‘seigniorage’ fee for application of the government’s seal guaranteeing the quality of gold ‘Eagles’ valued in ‘Dollars’. If parties to private contract stipulate something OTHER than “Eagles” or ‘Dollars” in trade, such as private mint ‘Ounces’ of specific metals and fineness, then government, ipso facto, has absolutely no jurisdiction to intercede in the contract, its terms or rights of the parties thereto, as no conceivable ‘assistance’ of its ‘eminence’ was a nexus in that contract.

    • @ PatFields
      This is the point in time where such legal status will be tested once and for all. The scope of Eminent Domain that Obama has worked out with the USAs overseas creditors will also be known in its entirety after the collapse, unless the plan is for a 3rd world war and Eminent Domain discussions are just a time buying exercise.
       
      >>>then government, ipso facto, has absolutely no jurisdiction to intercede in the contract,
      Gun pointed in face. Jurisdiction enforced… but if you die in protest then technically you never gave up jurisdiction over your soul, so you could be quite correct!
       

    • @WillNotBeASlave
       
      Good Old PHYzzz, backed by AR15! 
      It’s the American Way!

    •  
      @WillNotBeASlave
       
      “For now. Wait till they send round the goons! ‘THEY’ will do Anything to keep this fraud going for even an additional year. History says that when the SHTF Politics will involve itself as a proxy for Finance (Crime);”
       
      Not to worry.  If they back off, all will be well.  If not, then I shall be needing some slaves in Valhalla. >:-]
       

  6. Thanks for the JW interview, I can’t say I agree with all of his conclusions, but it’s still a interesting listen.

  7. More evidence that October 8th is the end game.  The new hundred will be the start of the new money.  The old money will be stolen or hypered.  Get yur silver before it’s gone.  The white shoe boys are movin’ their’s as we speak.  Notice the big buying during the GLOBEX?  That NEVER used to happen.  Now it’s been doing it a lot lately.  Got to be banks doing that buying for themselves.
    Speaking of them Buffalo’s, How many has The Golden State Mint made of them?  I have almost 100, so far…

  8. gotta love those Buffalo’s,  Silver Hawk.  A picture of my relatives on one side and our favorite meal on the other side.  Cool and classy

  9. that was my ancestors that liked buffalo. 

    • Man, today, still likes his/her meats, as a way of getting second hand protein.  Look at the side of a can of baked beans, 6 grams of protein that’s healthier for ya.  And you get to fart like crazy in front of the kids… (And you don’t need health care cause your eating better and always in perfect health…)

    • When the US decided to strike a .9999 coin what design did the choose? The Frazier Buffalo!!!!!!!!!!! The most unique and cherished coin ever minted.
       
      Don`t hold your breath for a 3 legged, like on the 1937 coin.

    • I had bison burgers for supper :-)

  10. Does Buffalo taste like Chicken? I mean they are selling Buffalo Hot Wings!

    • Buffalo burgers taste exactly like beef except they are much more flavorful (kind of a super-beef) and they are much lower in fat.
      I would eat them everyday, no problem, as they are very delicious but the downside is they cost about 9 dollars per pound for
      buffalo burger meat.

    • @ch25061
      Yup, that’s about right for around here. Sonny-Boy was up in North Dakota, 
      working the Bakken Shale, and it was a bit cheaper and Better tasting! 
      Ever had BEEF-Alo??? 
      Cow x Buff

  11. !0 Year Bond Yields up to 2.72% How can the rising interest be paid? Oh Silly me, Print more funny money!!!!

  12. aw crap, Ranger, this is what I was afraid of  UST 10 yr breaking higher.
    It dropped to 2.47% and range traded for two weeks
    Now its 2.72%   that is very bad. the Fed Res bank’s UST portfolio has probably dropped so much in value since May they are probably negative equity to $100 billion right now.  I guess the idea of tapering is not working out so well.
    If it starts approaching 3% the Turdnado will be upon us.

  13. Very nice addition to this site. I hope the Doc still practices medicine.

  14. Looks like we’re in for a long night. LOL the nocturnal beat down may be upon us.

    • @Dirtlump
      You mentioned you were probationary on the tin foil helmet.
      To attain full status, you need only plug in the iron, and press out the big wrinkles. Make them nice tight wrinkles. And wear with pride.

    • I should have clarified, I’m a 3rd year apprentice who just finished his last round of tests. I should be a journeyman ASAP LOL!

  15. NICE ! PM INFOWARS Just a Start for the minds of America..
     

  16. “The allocated gold account scandal is really brewing!  Egon Von Greyerz of Matterhorn Asset Management talks frequently  how the Swiss bullion banks are denying their clients’ requests to even LOOK at their gold, much less take it out!”
     
    Looks as if the Swiss banksters are taking a page from the actions of the NY Fed banksters.  Fed to Germans:  ”Uh, no, uh, you can’t have your gold right now… maybe in several years.  What?  You just want to look at it?  Uh, no, sorry, that would be, uh, a security violation”.  Who says that the Fed isn’t transparent?!  Idiots.  :-D

  17. I am so sick of this bullshit going on. Time for Interpol to arrest lots of people. Right now!

    • I dunno. Bay.  Maybe it’s a toss up between that and some jock-strappin’ USMC General who is just sick and tired of all this DC BS just ending it. Marines are famous for taking hills, so why not Capitol Hill?  Arrest those scum-sucking money-squandering constitution-trampling pieces of crap in human form, put them on trial for treason against the American people, and hang most of of ‘em.  Maybe then we can get back to a small constitutional government that is worthy of this nation and not a never-ending nanny state that is not mentioned at all in the US Constitution.  Not advocating for this but also would not be surprised or terribly put out if it happened.

    • Ed_B

      In ‘Henry the 6th’, Shakespear’s character, Dick the Butcher, exclaimed “The first thing we do, let’s kill all the lawyers.” Echoing through many centuries still, its appeal is not a smidgen less enthralling! And, isn’t it a delightful coincidence that the overwhelming majority of Politicians are among the Barristocracy as well?

    • @PatFields
       
      Yes, that line has been quoted MANY times and in many places.  I agree that it definitely has appeal.  I am reminded of the days of the old west here in the US, where lawyers were considered about 2 steps above the town drunk and other scavengers… well, maybe 1 step.
       
      Barristocracy?  LOL!  Gotta love that term.  It sounds like a concatenation of Barrister and Kleptocracy!  How absolutely fitting!  If ever there was a more grasping and over-reaching group of self-indulging human beings, I do not know of them.
       
      What was that other famous quote along these lines?  Something about, “No man’s life, liberty, or property are safe while the legislature is in session”?
       
       

    • I think that line may be among the MOST quoted of Shakespear’s writings.

      You like ‘Barristocracy’, huh? I can proudly boast it’s of my own coinage. It’s a concatenation of Barrister and Aristocracy, though Kleptocracy is every bit as apropos.

      Your quote sounds like it could be Mark Twain or Will Rogers just by the wry tenor of it. I’ll have to poke into it.

      Found it! Often mistaken for Twain, it’s from the summary of a court case …

      “The error arose from want of diligent watchfulness in respect to legislative changes. He did not remember that it might be necessary to look at the statutes of the year before. Perhaps he had forgotten the saying, that “no man’s life, liberty, or property are safe while the Legislature is in session.” — Judge Gideon J. Tucker, Final Accounting in the Estate of A.B. (1866)

    • “I think that line may be among the MOST quoted of Shakespear’s writings.”
       
      It very well might be, Pat.  It certainly tugs at our very souls in its appeal for ultimate justice.  Speaking of which, are there any lawyers in heaven?  Probably not.  Perry Mason might have made it but he is a fictional character.  It is the only profession I know of that has generated a whole raft of joke books.  Two of my favorites are:
       
      “What’s the difference between a lawyer and a catfish?”
       
      “Well, one is a bottom-dwelling, low-life, scum-sucking varmint and the other is a… fish.”  ;-)
       
      #2 on my list is:
       
      “What’s the difference between a dead lawyer laying beside the road and a dead skunk laying beside the road?”
       
      “There are skid marks in front of the skunk.”  ;-)
       

  18.   Can you say “The Bush criminal cabal, freemasons, The Skull and Bones Society, and The City of London”? I knew you could.

  19. For anyone else keeping track of the weekend close, we have an ask of 19.99 again on the close of business today. I was really hoping for a good beat down on the price so I could pick up another monster box of EAGLES. I guess I’ll just have to wait untill those stiff p###x get around to dropping the price for us again. ;-p

    • Sounds good to me, although I am tempted to buy a couple of hundred more ozs. of either ASEs or Maples anyway.  If the price drops, then double down.  :-)
       

    • Yeah, Rolling Stone covered ICAP back in April. Funny how they were working out of Jersey City and thus outside of the NY City financial/legal purview. Jersey City should be looked at more closely, who knows what a ‘regulator’ on a real mission could dig up there.
       
      “And here’s what we know so far: The CFTC has sent subpoenas to ICAP and to as many as 15 of those member banks, and plans to interview about a dozen ICAP employees from the company’s office in Jersey City, New Jersey. Moreover, the International Swaps and Derivatives Association, or ISDA, which works together with ICAP (for U.S. dollar transactions) and Thomson Reuters to compute the ISDAfix benchmark, has hired the consulting firm Oliver Wyman to review the process by which ISDAfix is calculated. Oliver Wyman is the same company that the British Bankers’ Association hired to review the Libor submission process after that scandal broke last year. The upshot of all of this is that it looks very much like ISDAfix could be Libor all over again.”
      Read more: http://www.rollingstone.com/politics/news/everything-is-rigged-the-biggest-financial-scandal-yet-20130425page=3#ixzz2axcSKUHK

      >>> ISDAfix could be Libor all over again.
      In the real world it would be much bigger than even Libor if you ask me. The Derivatives market is a much larger market and is so complex that fraud can be much more easily accomplished … it is so unregulated an so misunderstood that the word ‘fraud’ might not even be definable in the world of derivatives.
       
      I can already hear the testimony of the bankers in a Senate Hearing right now;
      Scumbag: “Ahhh, we don’t understand that question … the product is complex … Ahhh, I’ll have to go and ask a few questions to give an answer but don’t be surprised if they aren’t forthcoming … you know, kind of technical, don’t worry your little heads about it, we’ll fix it good”
      Senator: “Ok, but don’t forget to send my Cayman Islands cheques on time, and I want a pay rise, people are asking me questions and I don’t have as much time to spend with the kids on the yacht up in Long Island. %$&# did I say that out loud?”
       
      Also I can see it now —> Oliver Wyman will have a commission called the Wyman Commission, kind of like the Warren Commission. Instead of a magic bullet he will find a magic ‘legal’ reason to justify why this isn’t simply a 15 member cartel operating out of a Boiler Room in Jersey City. Wyman will probably hire John Corzine as a consultant, and put him in charge of any evidence that is found :P Then two or three jet liners will freakishly be flown into the buildings where the evidence was stored … dejavu! Nothing to see here, move along, those damn Chinese/Iranian terrorists did it, lets all have a WAR! C’mon, you know you will all feel better afterwards? …you get a free lollipop!

  20. WillNoBeASlave.  I really appreciate what you say and you say it eloquently.  Thank you for being so forthright.  I am in agreement with you and others who make it clear that we live in a Matrix of corruption that is so deep and embedded that I would not trust a politician to tell me  the sun was out. 
    I am only slightly more trusting of bankers because their overlords are yanking their chains to say what they are forced to say under threat of their jobs or worse, a jail time if the local banker doesn’t nark out their clients for any reason that might fall under FACTA, FBAR, Truth in Lending, Know your Banker or any othe fine print arcane piece of regulatory bullshirt designed to strip us of our deposits. The local bankers live in our town so they can be found out.  There is only one thing I can say about the local bankers.  Our fiscal jailers are in plain sight and can be seen for what they are.  They can generally be avoid as we can avoid the penny ante grifters that live amongst us.
     The notion of Bail-ins to bail out bankers means that the bankers can engage in blatant and total theft of OUR money and they can do it in plain sight and with the complicit agreement, in legal writing, from the legislators who are in the banksters pockets and their ’bitch tanks’
    I’m all for free lollipops but not if they’re stuck up my a** They always taste like poop afterwards.

  21. PS  CH 25  Costco has organic ground buffalo meat for about $6.50 a pound.  I have seen this offered at other stores but Costco is less costly so I picked up a 2.5 lb pack for about $16  
    Shamus 101  Regarding Heirloom Seed banks.  Go to startpage.com and request info on these seed banks  They range in price and total amount of seeds for 1 acre or more. I can’t remember where I bought mine but did use offthegrid.com   they are pricey so amazon or others will probably have a lower cost for these long term seed storage packages

    • I have not seen any buffalo meat at our local Costco but would buy it in a heartbeat if they ever do.  The steak and hamburger meat we buy there is WAY better than that provided by Albertsons, Fred Meyer, and Safeway.  In fact, unless we run out of Costco meat, we don’t buy meat anywhere else these days.  The NY, T-bone, and Rib steaks are particularly good and BBQ very nicely.  :-)

  22. EdB  Thanks for the Costco tip on quality meat  We’ve bought there for years but I’ve wondered about where they get their beef.  Walmart is totally questionable for obvious reason. 
     I’ve always been a bit concerned about low priced meat. 
    It’s the same thinking as what to expect from the low cost bidder for the food supplies used at in a Wimpey Burger.  After the Mad Cow fears,  now a burger fan has to worry about My Friend Flicka joining him at the dinner table.   Hey Wilbuuuuur, horse got your tongue?
    I just spotted the Buff meat at our Carson City Costco.  They were less than our local grocery store. They also had 4 lb packages of organic beef.  A local friend told me about how our cattle are raised in this neck of the woods.  Ooooh  faah.   Not nice to picture how Bossy the Cow meets her end.  EColi, antibiotics, growth hormones.  Yikes!
    RGR I hear you  FUBAR is right
    Twice I was forced to file FACTA AND FBAR forms when I owned an interest in a commercial building in Victoria  BC
     My CPA charged me $1,500 to file those two forms.  The information was getting so intrusive I felt like I was getting a TSA exam, my doctor with his rubber glove and a DNA sample the hard way all rolled in one. 
    It’s one thing to be paid to give a DNA sample and end up with smile on your face as you exit ‘the bank’  
    Paying my CPA to nark me out to the goon squad NAZI stasis bastards at the IRS about a foreign holding that is none of their G.D.Ing business was beyond the pale.  So I sold the property and bought PMs with the proceeds  But I mean this in a nice way since Chaz hasn’t move to Kleptifornia and started screwing up the UC College system

    I did hear that Big Sis’s favorite line is
    ‘Leggo of my ears, Hillary, I know what I’m doing’
     
     

    • LOL@AGXIIK
      “lolly-poops”
       
      Here’s one for “Mystery Meat” by unknown delivery bandits:

    • “Thanks for the Costco tip on quality meat  We’ve bought there for years but I’ve wondered about where they get their beef.”
       
      No problem on the tip, AG.  We don’t buy Costco steaks because they are cheap.  They actually cost a little more than the local grocery store steaks but they taste so much better that they are well worth the extra $1 a pound they cost.  :-)
       
      I dunno where it comes from, only that it tastes WAY better than ANY beef I’ve ever eaten.  The last “beef” I had this good turned out to be elk.  lol  
       
      I presume that a lot of the junk beef that we’ve had before was of the nasty type.  This tastes delicious and cooks very nicely.  Heck, I can even BBQ it rare, put it in the fridge overnight, and then microwave it the next day and it is still tender, juicy, and delicious.
       
      Costco has any number of great foods that are best in class, IMO.  Their canned tuna is especially good… and yeah, it really DOES taste like chicken!  We should know, too, because we buy both there and they both end up in chicken egg salad and tuna egg salad sandwiches.  Oddly enough, the chicken is cheaper but just as tasty as the tuna.
       
       

  23. The furry critter looks like my new banker.  Or at least the mask fits.   The cat must be a teller.  My bank is cutting costs so this seems pretty par for the course. 

  24. @AGXIIK
    >>>My CPA charged me $1,500 to file those two forms
    The bureaucratic and legalese world is simply designed as a barrier to block any small punter or small business from even getting off of the ground. All the rooms in the Ivory Tower are occupied, no more room at the inn. If you don’t have millions and an off-shore acquaintance (or a Delaware corporate lawyer) you’re destined to be robbed blind and left on the side of the road for dead; the Good Samaritan story in the Bible comes to mind, except without the Samaritan. I feel for ya! It’s a sad day when people from the so called ‘free world’ have a better chance of making it down in Argentina.
     
    When Orwell wrote that the future of mankind is “A boot stomping on a human face FOREVER”, he should have said “A white-shoe stomping a guys crotch for ETERNITY… on perpetual retainer”.

    • “When Orwell wrote that the future of mankind is “A boot stomping on a human face FOREVER”, he should have said “A white-shoe stomping a guys crotch for ETERNITY… on perpetual retainer”.”
       
      If he were writing 1984 today, he could have phrased it just that way.  Things were a bit straight-laced back in the day.

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