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Space Age Stealing: We Are Living In An Era Of Undisguised, Real-World Conspiracy, The Prices Of Currencies, Commodities Like Gold And Silver, Even Interest Rates And The Value Of Money Itself Are Set By Companies That Can Profit By Manipulating Them. We’re Fucked!


Everything Is Rigged: The Biggest Price-Fixing Scandal Ever

The Illuminati were amateurs. The second huge financial scandal of the year reveals the real international conspiracy: There’s no price the big banks can’t fix

“A farce,” was one antitrust lawyer’s response to the eyebrow-raising dismissal.

“Incredible,” says Sylvia Sokol, an attorney for Constantine Cannon, a firm that specializes in antitrust cases.

All of these stories collectively pointed to the same thing: These banks, which already possess enormous power just by virtue of their financial holdings – in the United States, the top six banks, many of them the same names you see on the Libor and ISDAfix panels, own assets equivalent to 60 percent of the nation’s GDP – are beginning to realize the awesome possibilities for increased profit and political might that would come with colluding instead of competing. Moreover, it’s increasingly clear that both the criminal justice system and the civil courts may be impotent to stop them, even when they do get caught working together to game the system.

If true, that would leave us living in an era of undisguised, real-world conspiracy, in which the prices of currencies, commodities like gold and silver, even interest rates and the value of money itself, can be and may already have been dictated from above. And those who are doing it can get away with it. Forget the Illuminati – this is the real thing, and it’s no secret. You can stare right at it, anytime you want.

“In all the over-the-counter markets, you don’t really have pricing except by a bunch of guys getting together,” Masters notes glumly.

That includes the markets for gold (where prices are set by five banks in a Libor-ish teleconferencing process that, ironically, was created in part by N M Rothschild & Sons) and silver (whose price is set by just three banks), as well as benchmark rates in numerous other commodities – jet fuel, diesel, electric power, coal, you name it. The problem in each of these markets is the same: We all have to rely upon the honesty of companies like Barclays (already caught and fined $453 million for rigging Libor) or JPMorgan Chase (paid a $228 million settlement for rigging municipal-bond auctions) or UBS (fined a collective $1.66 billion for both muni-bond rigging and Libor manipulation) to faithfully report the real prices of things like interest rates, swaps, currencies and commodities.

All of these benchmarks based on voluntary reporting are now being looked at by regulators around the world, and God knows what they’ll find. The European Federation of Financial Services Users wrote in an official EU survey last summer that all of these systems are ripe targets for manipulation. “In general,” it wrote, “those markets which are based on non-attested, voluntary submission of data from agents whose benefits depend on such benchmarks are especially vulnerable of market abuse and distortion.”

Translation: When prices are set by companies that can profit by manipulating them, we’re fucked.

“You name it,” says Frenk. “Any of these benchmarks is a possibility for corruption.”

The only reason this problem has not received the attention it deserves is because the scale of it is so enormous that ordinary people simply cannot see it. It’s not just stealing by reaching a hand into your pocket and taking out money, but stealing in which banks can hit a few keystrokes and magically make whatever’s in your pocket worth less. This is corruption at the molecular level of the economy, Space Age stealing – and it’s only just coming into view.

 

Stunning Gold Shortages As Western Ponzi Scheme Collapsing

Greyerz:  “Eric, all around us the world economy is now declining at an alarming rate.  The situation in southern Europe is disastrous, and that’s spreading to all of Europe as well as the rest of the world.

 

The world economy is starting to disintegrate.  What we are entering now is the culmination of a Ponzi scheme of printed money and credit that started with the creation of the Fed in 1913…

 “So for 100 years the world has lived in a dream that printed money creates prosperity.

What we are going to see in the next few years is a hyperinflationary depression of unimaginable proportions.  All of us will of course be affected, and many very badly.  Only a privileged few, and these are some of the people who are fortunate enough to follow King World News, will be able to preserve their wealth.

From Bust To Bubble, With No Recovery In Between?

The gaps between markets (credit, equity, and volatility) and economic (macro- and micro-) reality have seldom been larger. What is just as concerning as this yawning chasm is the similarity of a number of activities to the ‘bubble’ in credit in 2007 - from record CLO issuance to covenant-lite loans resurgence. As Citi’s Matt King notes, the past fortnight’s virtual melt-up in all things high yielding has been accompanied by a growing sense that markets are breaking out of the patterns of the past few years. In the near term, there is no reason in principle why the moves cannot go further; but unless more of the central bank stimulus finds its way through to the economy, this opens up the risk of sudden corrections as markets fall back to earth. How long will it take for that to occur, and for markets to become scared once again? It is hard to tell, and yet, as we have noted numerous times, we have been in this situation before. In 2009, the divergences took 6 months before stocks corrected, in 2011 it took 4 months, and in 2012 it took just 1 month. It’s not different this time.

 

That 2007 Feeling…

 

Just a shame the real economy isn’t…

 

and it seems unemployment doesn’t matter anymore…

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  • http://twitter.com/junktex George W.Reichel

    Yep.

  • http://www.facebook.com/profile.php?id=1672891012 Greg Burton

    Well, it was either prosecute the bankers for the toxic mortgage/LIBOR scams that impoverished the world and left US cities and towns open to drug cartel domination, punish the banking cartel’s multi-billion dollar drug-money laundering; the Bush-CIA-mafia S&L pillage, looting Social Security, investigate why we’re out-sourcing jobs and manufacturing to China even as the US is close to going to nuclear war with China as it threatens US economic hegemony, investigate who was really behind 9/11 that touched off the serial, never-ending wars of pillage against the nation-states of the world, and how 9/11 and other false-flag (inside jobs) have created the pretext for the global police state and gun confiscation…OR…buy 2.0 billion hollow-point bullets, give away tanks to US cities and towns, train FEMA troops and subordinate the US military to the DHS, and have 30,000 soon to be weaponized drones flying over everywhere. For the government within the government (secret team) the choice was simple.

  • http://www.facebook.com/profile.php?id=1672891012 Greg Burton

    Well, it was either prosecute the bankers for the toxic mortgage/LIBOR scams that impoverished the world and left US cities and towns open to drug cartel domination, punish the banking cartel’s multi-billion dollar drug-money laundering; the Bush-CIA-mafia S&L pillage, looting Social Security, investigate why we’re out-sourcing jobs and manufacturing to China even as the US is close to going to nuclear war with China as it threatens US economic hegemony, investigate who was really behind 9/11 that touched off the serial, never-ending wars of pillage against the nation-states of the world, and how 9/11 and other false-flag (inside jobs) have created the pretext for the global police state and gun confiscation…OR…buy 2.0 billion hollow-point bullets, give away tanks to US cities and towns,
    train FEMA troops and subordinate the US military to the DHS, and have 30,000 soon to be weaponized drones flying over everywhere. For the government within the government (secret team) the choice was simple.

  • http://www.facebook.com/profile.php?id=1672891012 Greg Burton

    Well,
    it was either prosecute the bankers for the toxic mortgage/LIBOR scams
    that impoverished the world and left US cities and towns open to drug
    cartel domination, punish the banking cartel’s multi-billion dollar
    drug-money laundering; the
    Bush-CIA-mafia S&L pillage, looting Social Security, investigate why
    we’re out-sourcing jobs and manufacturing to China even as the US is
    close to going to nuclear war with China as it threatens US economic
    hegemony, investigate who was really behind 9/11 that touched off the
    serial, never-ending wars of pillage against the nation-states of the
    world, and how 9/11 and other false-flag (inside jobs) have created the
    pretext for the global police state and gun confiscation…OR…buy 2.0
    billion hollow-point bullets, give away tanks to US cities and towns,
    train FEMA troops and subordinate the US military to the DHS, and have
    30,000 soon to be weaponized drones flying over everywhere. For the
    government within the government (secret team) the choice was simple.

  • http://www.facebook.com/people/Steve-Pallister/1389811844 Steve Pallister

    What do you mean forget the Illuminati? Who do you think ‘they’ are anyway? Having for so long been told; who they are, what they control and how they will play it when they reach their endgame, please don’t be re-inventing the wheel. They have a name. What makes you think if the rest was known, the name was not?

    • watchfulprey666

      The problem with using the name is that they have gone to great lengths to muddy the water ( Alex Jones=super troll et al)

  • scout

    Yes, and our gulag rulers get away with this with high taxation, selling bonds, high inflation with the dollar devaluation (making savings obsolete, thereby undermining inheritance to our children, a main Marxist principle, check last page of chapter 1, Communist manifesto) petrol dollar and enslaving the next SEVERAL generations debt.