Submitted by SD Contributor Marshall Swing
Blythe Masters At The Bat
The outlook wasn’t brilliant for the Morgueville nine that day;
The score stood four to two – with but one inning left to play;
BrotherJohnF’s latest Silver Update: Silver Conspiracy
Doc, I was wondering why do the fools that play the Comex even put in a stop loss in the first place if they know the game/their job?
Why don’t they start making their own rules? No stops and let it play.
Mark, the ‘fools’ playing the COMEX paper game using stop losses than are routinely raided and tripped by the cartel do so out of necessity.
This is EXACTLY WHY THE LEGENDARY JIM SINCLAIR ALWAYS STATES THAT IF YOU MUST TRADE, DO NOT USE LEVERAGE!!!
Jim Sinclair has released an email alert to subscribers stating that next week will see the cartel make one final take-down attempt of the metals, which Sinclair states will fail, as did the 7 previous attempts.
Sinclair emphatically states not to hold any margin, and asks ‘How can anyone in Europe sleep tonight with cash in the bank?‘
By Jim Willie, GoldenJackass.com
-The LIBOR scandal is an extension of the JPMorgan loss story and the MFGlobal thefts
-The LIBOR rates are connected to the Interest Rate Swaps, the free feeder wellspring
-The Fascist Business Model is coming to a climax conclusion, the bitter fruit exposed
-Naked shorts of Gold & Silver and concealed hyper monetary inflation
-Looting of Fort Knox and phony bank accounting
-Gold motive for liberating Libya and missing Iraq Reconstruction Funds
-The climax should occur in the upcoming months
REVELATION OF RAIDED GOLD ALLOCATED ACCOUNTS
Reuters reports German regulator BaFin has begun a special probe of Deutsche Bank into possible manipulation of LIBOR rates.
As we noted over the weekend, JP Morgan and Bank of America appeared to be submitting the most blatantly fabricated LIBOR rates during the depths of the financial crisis in 2008-2009, yet American regulators such as the SEC, CFTC, and DOJ have yet to even blink from their regularly scheduled porn. While LIEBORGATE appears to be reaching contagion stage in Europe, what will it take for the 1st US bank to be officially implicated?
RBS’ NatWest, whose banking ‘glitch’ (which began only days after RBS’ downgrade) is now nearing 3 weeks with officials now stating accounts will not be functioning until the end of July!
It appears that either NatWest’s IT problems have gone viral, or else Sberbank has also been impacted by margin calls/ liquidity concerns, as the largest Russian bank has halted credit and debit card transactions due to an ‘IT glitch’.
After much kicking and screaming (and 2 years of delays/ feet dragging) the Fed has complied with the Frank-Dodd act and publicly released the living wills (resolution plans) of Wall Street banks including BOA, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley, UBS, and JP Morgan.
According to the Frank-Dodd legislation, each plan must describe the company’s strategy for rapid and orderly resolution under the Bankruptcy Code in the event of material financial distress or failure of the company.
The filing releases critical information, including JP Morgan’s interest rate derivatives positions at the end of 2011 ($54.5 trillion, down from $63.6 trillion at the end of 2010), total FOREX positions, equity positions, and total notional derivatives ($71.2 trillion!).
Those interested in reading how JP Morgan executives envision the death of their beloved Morgue can read the full crisis/ liquidation scenario below:
The Council of Europe presented a preliminary report in Strasbourg Wednesday on massive money-laundering by the Vatican. As JP Morgan was the Vatican’s chief bank until the scandal broke, The Morgue may soon have a much bigger scandal and PR nightmare on its hands than a simply $9 billion derivatives loss.
‘It is clear that JPMorgan is complicit in money-laundering in Europe with the Vatican, having abetted Vatican bank money-laundering and fraud by allowing IRS-defined suspicious transactions pass through their institution.‘
Submitted by SD Contributor AGXIIK:
For the last 20 years I’ve been involved the financing of businesses. One key part of the process was the interest rates for business. In almost all the rates I quoted, whether Prime rate, Treasuries or LIBOR, each had at its source the basic LIBOR calculations. I found myself explaining LIBOR at length to my clients so they understood how this rate was going to drive their financing costs.
Not once in these conversations from 2002 to 2011 did I realize these rates were rigged and manipulated.
When rates are unfairly manufactured to benefit banks and others in the lending industry, to the detriment of the borrowers, this is both unfair and criminally illegal.
I see a wave of lawsuits so large and overwhelming coming in the next year or so that these legal actions will absolutely dwarf the tobacco settlements that hit $250,000,000,000.
The loan rate rigging damages are easily in the tens of trillions of dollars.
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