Alex Jones interview Max Keiser about the movement started a few months ago to crash JP Morgan by buying silver. JP Morgan has naked short sold more silver than exists above ground and at some point, the piper has to be paid, and “JP Morgan has put up their own stock as collateral against these shorts”. Max states that once silver hits $47 an ounce, JP Morgan will be in shambles.
The particulars…
For every ounce that somebody buys of silver, JP Morgan sells 20 to 50 ounces of silver that don’t exist; it’s called naked short selling. That’s the simple; that’s the bottom line. They sell silver that doesn’t exist, it’s naked short selling, they’ve sold more than, by some estimates, 3 billion ounces short, but more than a billion certainly, and that’s the entire silver stock above ground. They’ve sold short more stock than exists above ground and they are on the floor everyday manipulating the price every time someone shows up to buy one ounce of silver, JP Morgan tries to sell 10 as a naked short sale. Silver that they don’t own, but at the end of the month, the books have to be square, the cromags have to physically deliver; just a few days ago, the cromags came once again within a hair’s breath of collapsing due to physical deliver; every month it gets closer and closer, and now, with what’s happening with the silver liberation army, which is being launched globally around the world, we are going to take whats remaining of silver, off, out of the physical stock, off the physical market and put JP Morgan six feet under.
Max Keiser: “The Silver Liberation Army!” – Alex Jones Tv 1/2
Max Keiser: “The Silver Liberation Army!” – Alex Jones Tv 2/2
Do you still have your money in the big FIRE economy banks?
Eight days ago I did something I have not done in months; I bought a bottle of wine and drank 3/4 of it in one evening in the hope that a little self-medication would relieve my angst. For 8 days, I have been suspended in that split second of motionless time when you see the train wreck about to occur and are trying to decide whether to watch in horror or turn away. That moment right before time catches up with itself and slams into “real time” and the horror unfolds. The only difference right now is that I do not know what the train is, just that something is coming, and that the usurper in charge is creating more and more instability in the world with his every word and action.
I have been watching the distract and deflect manuevers from the administration, reading the corporate owned newpapers, and digging for information on items that have been blacked out; i.e. David Kellerman, Mark I. Levy, and the swine flu infected pigs in Canada. Yet what we are being fed is the lies about the torture photographs, the lies about Pelosi’s knowledge or lack thereof concerning waterboarding, the Federal Reserve pleading stupid while ‘losing’ $9 Trillion dollars, and all I can think is “How Stupid Do They Think We Are?” The Fed didn’t lose $9 Trillion, they just don’t want to tell anybody where it went; it was Bambi’s idea to release the photographs in the first place, and Nazi Nancy knew about everything because ‘she is what she is’. Meanwhile, TurboTax Cheating Timmie and Bambi are flying the following fascist b*llsh*t right under the radar, and everybody wants to keep calling Barack Obama a socialist, when I believe he is a fascist who thinks he is something of a cross between Hitler and the Ottoman Empire. Read the following excerpt and remember that it gets even better after this. Can anybody identify the traitors to the United States?
Administration in Early Talks on Ways to Curb Compensation Across Finance
WASHINGTON — The Obama administration has begun serious talks about how it can change compensation practices across the financial-services industry,including at companies that did not receive federal bailout money, according to people familiar with the matter.
The initiative, which is in its early stages, is part of an ambitious and likely controversial effort to broadly address the way financial companies pay employees and executives, including an attempt to more closely align pay with long-term performance.
Administration and regulatory officials are looking at various options, including using the Federal Reserve’s supervisory powers, the power of the Securities and Exchange Commission and moral suasion. Officials are also looking at what could be done legislatively.
Among ideas being discussed are Fed rules that would curb banks’ ability to pay employees in a way that would threaten the “safety and soundness” of the bank — such as paying loan officers for the volume of business they do, not the quality. The administration is also discussing issuing “best practices” to guide firms in structuring pay.
At the same time, House Financial Services Committee Chairman Barney Frank (D., Mass.) is working on legislation that could strengthen the government’s ability both to monitor compensation and to curb incentives that threaten a company’s viability or pose a systemic risk to the economy.
It is unclear how such a bill would fit with what the Fed and others are already considering. But any legislation passed would make it harder for policy makers to dial back limits once the financial crisis subsides.
Any new compensation rules would likely be rolled out alongside a broader revamp of financial-markets regulation that the Treasury is pushing. The compensation effort is the latest example of the government’s increasing focus on aspects of the financial sector that once were untouched.
Say one thing and do another:
Government officials said their effort, which is just beginning, isn’t aimed at setting pay or establishing detailed rules. “This is not going to be about capping compensationor micro-management,” said an administration official. “It will be about understanding what is the best way to align compensation with sound risk management and long-term value creation.”
President Barack Obama and Treasury Secretary Timothy Geithner have both blamed the way banks structured compensation plans for contributing to the financial mess. In February, Mr. Obama said executive pay helped lead to a “reckless culture and a quarter-by-quarter mentality that in turn helped to wreak havoc in our financial system.”
Mr. Geithner recently instructed his staff to begin discussions with the Fed, the SEC and others about ways to address compensation practices.
During a recent congressional hearing, Chairman Ben Bernanke said the Fed was working on rules that will “ask or tell banks to structure their compensation, not just at the very top level but down much further, in a way that is consistent with safety and soundness — which means that payments, bonuses and so on should be tied to performance and should not induce excessive risk.”
In an indication of how broad the effort may become, Federal Deposit Insurance Corp. Chairman Sheila Bair said regulators need to examine compensation practices in the mortgage industry,suggesting new limits could stretch beyond banks.
But Wait! There’s More!
Professor Roubini is not the only economist speaking the truth about the fall of the dollar as the world’s reserve currency. After this little blurb, you will see why our dollar is more than likely going to crash, and reduce the once great United States to a third world country that is controlled by the United Nations and the world globalists.
Professor Roubini, of New York University’s Stern business school, believes that while such a major change is some way off, the Chinese government is laying the ground for the yuan’s ascendance.
Known as “Dr Doom” for his negative stance, Prof Roubini argues that China is better placed than the US to provide a reserve currency for the 21st century because it has a large current account surplus, focused government and few of the economic worries the US faces.
In a column in the New York Times, Prof Roubini warns that with the proposal for a new international reserve currency via the International Monetary Fund, Beijing has already begun to take steps to usurp the greenback.
China will soon want to see the yuan included in the International Monetary Fund’s special drawing rights “basket”, he warns, as well as seeing it “used as a means of payment in bilateral trade.”
From the dipshit-in-charge, and the person who will forever be etched in my mind as the perennial winner of the ‘Today’s Are You Freakin’ Kidding Me? Award’, his holiness, Barack Obama.
May 14 (Bloomberg) — President Barack Obama, calling current deficitspending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.
“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”
Holders of U.S. debt will eventually “get tired” of buying it, causing interest rates on everything from auto loans to home mortgages to increase, Obama said. “It will have a dampening effect on our economy.”
Earlier this week, the Obama administration revised its own budget estimates and raised the projected deficit for this year to a record $1.84 trillion, up 5 percent from the February estimate. The revision for the 2010 fiscal year estimated the deficit at $1.26 trillion, up 7.4 percent from the February figure. The White House Office of Management and Budget also projected next year’s budget will end up at $3.59 trillion, compared with the $3.55 trillion it estimated previously.
Two weeks ago, the president proposed $17 billion in budget cuts, with plans to eliminate or reduce 121 federal programs. Republicans ridiculed the amount, saying that it represented one-half of 1 percent of the entire budget. They noted that Obama is seeking an $81 billion increase in other spending.
This is $17 Billion in cuts after some $12 Trillion in spending. What few realize is that the U.S. is $1.24 QUADRILLION in debt when the Social Security balloon is added into the equation, yet this frakkin’ idiot and the brain dead congress are spending with no concern for us or future generations because it appears they definitely know something we don’t.
In his New Mexico appearance, the president pledged to work with Congress to shore up entitlement programs such as Social Security and Medicare. He also said he was confident that the House and Senate would pass health-care overhaul bills by August.
“Most of what is driving us into debt is health care, so we have to drive down costs,” he said.
NO! What is driving us into debt is the ponzi scheme of Social Security and BARACK OBAMA’S ADMINISTRATION AND DEMOCRAT DRIVEN CONGRESS who have now been empowered after 100 years of bad decisions and unconstitutional laws and mandates being passed by frakkin’ socialists. The Founding Fathers are way past turning in their graves now.
“We’ve got a long way to go before we put this recession behind us,” Obama said. “But we do know that the gears of our economy, our economic engine, are slowly beginning to turn.”
If that were true, Chrysler and GM would not be the situation they are in, credit would not still be frozen after the TARP money was dispersed, (the banks are waiting for the commercial real estate bubble to pop), and we would NOT be reading these headlines:
BOSTON (MarketWatch) — Fitch Ratings on Friday gave the markets notice that it may issue wholesale ratings downgrades on the U.S. banking sector if credit conditions and the economy continue to worsen.
Given all that information in one little string of facts over marketing, here is something everybody should be thinking about and considering; do you believe there are late night meetings at the WH that are attended by David Axelrod, Rahm Emanuel, and Michelle Obama while his holiness sleeps? Would this not explain:
His absolute need for a cheat-sheet called a teleprompter, and
His inability to make a decision and stick with it because it wasn’t his idea to begin with?
How far off do you think I am? Now excuse me, I have a train wreck to watch…
I have so found someone after my own heart, and readers, you are going to love this writer, but we need to cover something else first. Bambi and the Bankers.
On March 27th, a group of bank CEOs met with the usurper-in-charge at the White House and now the back story to that meeting is starting to leak out. I was wondering what the newspapers were going to print about this meeting, knowing full well that we probably could not believe a word of it because at this point it is all smoke and mirrors with AIG as the front piece and funnel for American taxpayer dollars to every other bank, and the American aristocracy milling in the shadows. Lovely touch; the comment about pitchforks – intended to get your blood racing and make you feel like Bambi is actually on the side of the American public.
The bankers struggled to make themselves clear to the president of the United States.
Arrayed around a long mahogany table in the White House state dining room last week, the CEOs of the most powerful financial institutions in the world offered several explanations for paying high salaries to their employees – and, by extension, to themselves.
“These are complicated companies,” one CEO said. Offered another: “We’re competing for talent on an international market.”
But President Barack Obama wasn’t in a mood to hear them out. He stopped the conversation, and offered a blunt reminder of the public’s reaction to such explanations. “Be careful how you make those statements, gentlemen. The public isn’t buying that.”
“My administration,” the president added, “is the only thing between you and the pitchforks.”
The fresh details of the meeting – some never before revealed – come from an account provided to POLITICO by one of the participants. A second source inside the meeting confirmed the details, and two other sources familiar with the meeting offered additional information.
The accounts demonstrate that despite the public comments on both sides that the meeting was cordial, the tone in the room was in fact one of mutual wariness. The titans of finance – men used to being the most powerful man in almost any room – sized up a new president who made clear in ways big and small that he expected them to change their ways.
There were signs from the outset that this was a business event, not a social gathering. At each place around the table sat a single glass of water. No ice. For those who finished their glass, no refills were offered. There was no group photograph taken of the CEOs with the president, which typically happens at ceremonial White House gatherings, but not at serious strategy sessions.
“The only way they could have sent a more Spartan message is if they had served bread along with the water,” says a person who attended the meeting. “The signal from Obama’s body language and demeanor was, ‘I’m the president, and you’re not.’”
Just for your information, here are the names of the CEOs in the meeting. Please note that the House of Morgan and the House of Mellon among others was in attendance.
Jamie Dimon, JP Morgan Chase Ken Chenault, American Express John Koskinen, Freddie Mac Ronald Logue, State Street Robert Kelly, BONY-Mellon Rick Waddell, Northern Trust James Rohr, PNC Lloyd Blankfein, Goldman John Mack, Morgan Stanley Vikram Pandit, Citi John Stumpf, Wells Fargo Cam Fine, Independent Community Bankers Edward Yingling, ABA Richard Davis, US Bank Ken Lewis, Bank of America
Now let’s get to what I really wanted to share. A few weeks ago I had a choice to start digging on AIG or go find the “spider” (Pilgrim Society). I am going to finish what I started with AIG, their board, their owners, yada, yada, yada…but wanted to introduce you to Justice Litle, Editorial Director, Taipan Publishing Group.
Back in my student days, I had the privilege of living abroad in three countries. (I would say studying abroad, but there wasn’t a whole lot of studying taking place.)
For one of those semesters I was based in a little town called Olomouc, on the Morava River in the Czech Republic. This was in the mid-nineties, when Eastern Europe was still amazingly cheap. You could get a seven-course meal in Prague, complete with drinks and dessert, for under 10 dollars. The best beer in the world was less than 50 cents a pint. A number of Americans working for U.S. corporations in Prague were earning $30K a year in after-tax income, saving $20,000 of that, and using the other ten grand to live like kings.
One of the interesting things we quickly discovered about Olomouc – a fairly provincial town at the time, and a far cry from Prague – was the surprising number of bars, jewelry stores and restaurants. The locals had very little money for the most part. Besides students and backpackers, who was frequenting these places? The setup just didn’t make sense.
A local Czech we befriended quickly clued us in. These were real businesses – as we knew from firsthand acquaintance with the bars and restaurants, though not the jewelry stores – but the real “business” wasn’t taking place up front. It was happening in the back.
Most of the high-end joints in Olomouc were little more than mafia fronts.
The whole town had a very strong organized crime presence. (Again, this was well over a decade ago. I don’t know if it’s the same way now.) Once we knew what to look for, the clues were easy to spot. On the battered San-Francisco-style trams that ran down the cobblestone streets of Olomouc, for example, you would notice that all the locals wore basically the same clothing… drab, post-communist-era type stuff… and then you would spot the bald guy with the black gloves and full-length Armani trenchcoat, talking on his new-model cell phone.
Or if you watched the cars go by on the main thoroughfare, 19 out of 20 would be durable little Skodas – and then a shiny new Mercedes Benz would hulk along. That kind of thing.
So what does this have to do with our Wall Street detective story?
Well, as it turns out, the Washington guys seem to have taken a page from the Czech mafia guys. AIG has been made into a “false front,” like all those Olomouc joints – the real business of which is to hand out taxpayer dollars under the table.
Flashback, September 2008
The plot stretches back to that fateful weekend in September 2008 when Lehman Brothers collapsed. (I’ll never forget it – I was in Paris at the time, wondering what the hell just happened and how soon I could get home.)
Immediately after letting Lehman go bust, the Fed and Treasury realized the magnitude of their error and announced a massive bailout of AIG. The amount was crazy – if I recall correctly, something like $80 billion right off the bat. (That number has since grown much bigger.)
So here’s a picture of what AIG did with that money, and how they got into the “false front” business of spreading cash around to other players.
As soon as the bigwigs at AIG realized they were hosed, they called up the Treasury and the Fed (Hank Paulson at the time, and Ben Bernanke still) and probably said something like the following:
Listen, we’ve got payout exposure to credit default swaps and other exotic derivatives out the yin-yang here – hundreds of billions’ worth – and if you let AIG go the way of Lehman, it’s going to be full-on financial armageddon. You had better bail us out right now if you don’t want to see the global economy vaporized.
Of course, Paulson and Bernanke gave in, authorizing an insanely massive lump sum of funds to go to AIG.
So what do you think AIG did with the money? They gave it to the counterparties on the other side of their trades.
As soon as the government stepped in to bail out AIG lock, stock and barrel, the AIG execs stopped caring about profitability. The game of being a viable business was toast, and the taxpayer was on the hook for everything. So it looks like AIG’s traders were ordered to unwind many of their mind-bendingly complex deals at fire-sale prices that were massively favorable to the parties on the other side of the trades.
Highly Efficient
Now, if you’re a muckety-muck high up in the Treasury Department, think how efficient this setup is.
What you really want to do is write big fat taxpayer-funded checks for all your buddies. Billions for Goldman, billions for Morgan Stanley, heck, billions for those European guys who are always so nice when you hop across the pond… billions for everyone.
The trouble is, writing all those checks would be a public relations disaster. People would be furious. Congress would go crazy. More than likely they’d give you major grief and try to block your efforts, just like they did with the multiple tries it took to pass the original TARP plan.
So writing many checks is a political no-go… but what if you could just focus your bailout efforts on ONE player? What if you could shovel hundreds of billions into one overly complex black hole… and then let all that money trickle out to your friends via the back door?
AIG offered the perfect set-up for this.
As a huge global insurance firm, people intuitively accepted the notion that an AIG failure would be devastating to the financial world.
As a firm with notoriously complex and impossible-to-read accounting records, AIG also acted as the perfect sinkhole in terms of being able to plausibly pour hundreds of billions in.
As a scapegoat, AIG was almost perfect too. Instead of blaming all of Wall Street for this whole toxic mess, AIG allowed the powers that be to mop up all the public outrage and focus it on just one player.
Last but not least, the whole $165 million bonus flap was icing on the cake. Congress got so lathered up over the bonuses, they forgot to notice that AIG itself had become a massive “false front” conveniently used to funnel billions of dollars to every major counterparty on Wall Street that had connections to AIG. (And that counts as most all of them.)
Sleight of hand, folks, sleight of hand. Kind of beautiful in a sick way, no? They figured out how to concentrate all the outrage into one convenient spot, deflect it onto a trivial issue, and set up a powerful funnel that would let the real handouts (from AIG to various counterparties) go virtually undetected.
Bravo, sirs. Bravo.
Make sure to go over and read the whole post and check out the included links. I definitely have a grin on my face.
Here is a little bit of information about AIG to get your started, and just pick one name and click on the relationships (i.e. Richard Holbrooke), and look at all the people and companies owned by the aristocracy in the background.
Senior Vice Chairman, Senior Vice Chairman of Life Insurance, Head of AIGs Worldwide Life Insurance Operations, Director, Chairman of American International Assurance Company Ltd and Chief Executive Officer of American International Assurance Company Ltd
Vice Chairman of Human Resources, Vice Chairman of Corporate Communications & Corporate Affairs, Vice Chairman of Legal, Vice Chairman of Corporate Affairs, Executive Vice President, Senior Regulatory & Compliance Officer, General Counsel and Director
