What would give the manipulators a huge problem?
Tom welcomes journalist Stuart Englert to the program to discuss his book “Rigged: Exposing the Largest Financial Fraud in History.” Stuart became interested in GATA’s writings after learning about the economic imbalances in the United States. He used GATA’s research in the writing of his book.
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Stuart breaks down the US’s economic history over the 20th century and all of the pivotal events. There have been several crucial moments starting in 1933 with the decision to make ownership of gold illegal. He outlines the impact of the Exchange Stabilization Act and the Silver Purchase Act and how this led to increasing market manipulation.
Stuart discusses the various ways that metals are manipulated, much of which is done thru paper trading. The Comex casino can change the rules whenever they like, as they did with the Hunt Brothers, and they can force you out of their game. He says, “JP Morgan has long been an agent and partner of the US government.. and fines are just a part of doing business.”
Stuart believes that silver may bring the whole system down due to its limited supply and increasing industrial demand.
Lastly, he explains how SDR’s work as an international standard and how currently it’s based on a composite of five leading currencies.
Time Stamp References:
0:00 – Intro
0:35 – What led him to write this book.
2:10 – Bretton Woods Agreement
2:55 – US Exports and Currencies after WW2
4:00 – Gold Reserve Act 1934
5:20 – Devaluation and inflation in 1934.
7:00 – Silver Purchase Act.
9:10 – Nixon exits the int’l gold standard.
10:15 – Run on US Dollar with gold.
11:50 – Price suppression.
14:30 – Golds broad effects.
15:40 – Runaway inflation and Paul Volker
16:45 – Deriviatives and paper markets.
19:20 – Bank of International Settlements
20:25 – Banks and hedging risks.
22:00 – Fort Knox, Audits, US Gold.
24:30 – Silver their achilles heel.
25:50 – Banks and holding silver.
26:40 – JP Morgan parter of the US Gov’t.
27:40 – SDR’s, China and Russia amassing metal.
29:15 – All fiat currencies eventuall die.
31:30 – Excerpt from his book.
33:40 – His other books.