The probe of Libor manipulation is proving to be the tip of the iceberg as inquiries into assets from derivatives to foreign exchange show that if there’s a chance to rig benchmark rates in world markets, someone is usually willing to try.
Singapore’s monetary authority last week censured 20 banks for attempting to fix interest rate levels in the island state and ordered them to set aside as much as $9.6 [...]
by Brooke Masters, GATA:
Dear Friend of GATA and Gold:
Singapore authorities have disciplined 20 banks after finding that 133 traders attempted to manipulate three kinds of interest rate and foreign exchange rate benchmarks, in a dramatic expansion of the global rate-rigging probe.
Royal Bank of Scotland, UBS, and ING were singled out for the toughest punishment by the Monetary Authority of Singapore, which said it took into account the number of traders involved [...]
by Michael Noonan
The market is undergoing a correction, but it is enough to call it a top? No. More
evidence is required before saying that the Fed has thrown in the towel. If it takes
more fiat to keep prices inflated, it will be provided. The alternative would be too
painful for investors, [not of concern for the Fed], and too embarrassing to admit
to the fraud of QE-Infinity to keep the bubble intact.
The stock [...]
It appears to me that JPMorgan and their ilk have bought absolutely massive quantities of gold and silver in many different markets. Unfortunately, much of that buying has come as a result of the deliberate and successful manipulation of price in order to force others to sell. I don’t believe that is fair or even legal. Nevertheless the bloodless verdict of the market suggests we are going a lot higher [...]
Hong Kong Mercantile Exchange HKMEx is surrendering all metal trades and will settle in cash! No Gold or Silver to be given!
This is Super Huge news in my opinion!
The Hong Kong Mercantile Exchange, which is the gold and silver commodities trading house in Hong Kong is immediately stopping/discontinuing and will be settling all gold and silver trades in cash that are in house at this time. Besides that, they will determine what [...]
It always amazes me how mankind can be so easily divided. Especially when the very thing we all work so hard for everyday, is the one thing that could unite us all. We are all on a constant paper chase for “Money.” We pursue it so much that we forget to first look at what we are chasing. Understanding that our “Money,” is controlled & manipulated is the one thing [...]
The manipulation of inflation data began in the 1980?s, accelerated in the 1990?s, and continues today with new initiatives such as a chained-CPI calculation of payments for social security. For more on this topic, see ShadowStats.com, which calculates current inflation as it was measured in 1980 and 1990.
http://www.bearishnews.com/post/5416
This is our third release from The Real Asset Report. Here we take a look at how, despite calls that the gold bubble is finished, the whole world is still talking about buying gold.
by Jan Skoyles, TheRealAsset.co.uk
Read any financial paper or website and they’ll tell you that the ‘gold-bubble’ is over. This opinion appears to be based solely on price and not much else.
When you look at short-term price action on its own [...]
There’s a new interview with George Soros out in the popular Hong Kong newspaper the South China Morning Post.
A lot of the interview is about the Chinese development model, Chinese stocks, real estate, etc.
There’s also an interesting section about gold.
Q: What is your view on gold?
A: That’s a complicated question. It has disappointed the public, because it is meant to be the ultimate safe haven. But when the euro was close to collapsing [...]
UNITED NATIONS — Iran, North Korea and Syria blocked adoption Thursday of a U.N. treaty that would regulate the multibillion-dollar international arms trade which required agreement by all 193 U.N. member states.
In an unexpected twist, Mexico proposed that the conference go ahead and adopt the treaty Thursday without the support of the three countries, saying there was no definition of “consensus.” Delegates then started debating whether this should be done [...]
Many have noted the fairly muted market reaction to the crisis unfolding in Cyprus.
At a press conference Wednesday following the Federal Reserve’s regular FOMC policy meeting, Fed Chairman Ben Bernanke nailed the general mood, telling reporters:
[Cyprus] does have some consequence. But having said that, you know, the vote failed and the markets are up today, and I don’t think that the impact has been enormous. I mean, I think it’s something we’re paying [...]
leap2020.eu / – Public announcement GEAB N°73 (March 16, 2013) -
In the Up & Down trends published in the GEAB January issue, our team wrote the following in the Down section “Economic indicators”: « Between short-term economic indicators which describe only what occurred in the week, others which are manipulated by governments to reflect the message they want to give, and finally others which no longer have any relevance in [...]
For years, JPMorgan has been accused of silver price suppression. Bill Murphy, chairman of the Gold Anti-Trust Action Committee faces Don Harrold, founder of the Day Trade Show, in a debate on whether JPMorgan has engaged in this criminal market activity. Besides JPMorgan, could other large market players be manipulating silver prices? Could even the Federal Reserve and US Government be conspiring with others to artificially suppress precious metal prices? [...]
Kyle Bass Warns "The ‘AIG’ Of The World Is Back–JAPAN IS BROKEN AND CANT BE FIXED
Kyle Bass, addressing Chicago Booth’s Initiative on Global Markets last week, clarified his thesis on Japan in great detail, but it was the Q&A that has roused great concern. “The AIG of the world is back - I have 27 year old kids selling me one-year jump risk on Japan for less than 1bp – $5bn at a time… and [...]
As we grow, we learn how to play and interact with others, and we learn how others react to us. We begin to develop an understanding of which behavior is acceptable and which is not, and if we are paying attention, we realize that there is a subtle system of rewards and punishments involved in social interaction. Adherence to this system is what keeps society together, and depending on what [...]
By Michael
Reckless money printing by Federal Reserve Chairman Ben Bernanke has pumped up the Dow to a brand new all-time high. So what comes next? Will the Dow go even higher? Hopefully it will. In fact, it would be great if the Dow was able to hit 15,000 before it finally came crashing down. That would give all of us some more time to prepare for the nightmarish economic crisis that [...]
From Sober Look:
The latest in the LIBOR scandal once again shined some light on RBS, the UK taxpayer-owned bank. The firm’s culture that ultimately forced the UK government to execute one of the most expensive financial rescues in history was even worse than many imagined.
WSJ: - RBS’s former head of investment banking, Johnny Cameron, who left the bank in early 2009, said traders at banks involved in the attempted rate manipulation [...]
Rick Santelli doesn’t see much of a difference between “outright currency manipulation” and the “collateral damage to one’s currency based…but in the end when you don’t have a standard & you have printing & fiat currency, what level of valu…
To claim a “recovery” based on unlimited Central State borrowing and spending and central bank manipulation of asset valuations is self-sustaining is beyond absurd.
by Charles Hugh Smith, Of Two Minds:
The mainstream media (MSM) is overflowing with stories proclaiming the global economy is on the mend: Europe’s crisis is in the rearview mirror, China’s growth has rebounded, Japan is aggressively pursuing Keynesian Nirvana and the U.S. economy is in the sweet spot between [...]
From LewRockwell.com:
I don’t see enough evidence to think Sandy Hook was a false flag operation. This is more of a tragic event turned into political opportunity than it is a staged event.
• Was there investigative bungling and the sensationalist media reporting unverified stories? Yes.
• Was there confusion and were facts lost and gained in that confusion? Yes.
• Are there people, even witnesses, looking for their 30 seconds in the spotlight? Yes.
• Are there individuals [...]
Most of you have heard that the US Mint has once again stopped selling Silver Eagles because they have “sold out”. A few years back it was 100% against the law for them to stop production as they were legally obligated to buy silver at any price. Now Silver Eagle program can only be stopped with the authorization of the US Treasury Secretary….which was no doubt done this time. They [...]
by Bally A, Silver Doctors:
Silver expert Ted Butler has long predicted and awaited an eventual industrial shortage of physical silver, and a resulting panic silver buying that terminates the bullion bank cartel’s manipulation of the silver market.
Butler may be about to be finally proven correct, if an Apple contractor is right that Apple has delayed production on the new 27” iMacs over an industrial silver shortage in China.
With the US Mint sold out of [...]
from VisionVictory, via FutureMoneyTrends:
“The policy makers don’t want the people to be aware of gold manipulation, because if people realized gold was artificially low priced then you’d have a rush into gold and out of paper.” – Jay Taylor
Mac Slavo
January 13th, 2013
SHTFplan.com
Mainstream financial analysts want us to believe that gold’s unprecedented rise throughout the last decade is almost over – that it is just another bubble soon to pop. Central banks, state-sponsored economists and many well respected high dollar investors have all tried to convince us that there is no more upside for precious metals, often arguing that the 5,000 year-old relics are but worthless metals – not money.
The interesting [...]
by WashingtonsBlog
The Government’s Entire Strategy Was to Cover Up the Truth
We noted in 2011 that the Geithner, Bernanke and Paulson lied about the health of the big banks in pitching bailouts to Congress and the American people:
The big banks were all insolvent during the 1980s.
And they all became insolvent again in 2008. See this and this.
The bailouts were certainly rammed down our throats under false pretenses.
But here’s the more important point. Paulson and Bernanke falsely stated that the [...]
from Russia Today:
In this episode, Max Keiser and Stacy Herbert discuss the two big themes for 2013: the execution of the too big to fail outlaw banks and the death of the Bretton Woods engineered fiat and faith debt based system as nations around the world ask for the return of their gold. They also talk to several Keiser Report guests about their predictions for 2013, including predictions from Rob Kirby [...]
from silverdoctors:
The Doc sat down with Harvey Organ again for the 3rd and final interview regarding the recent massive cartel intervention in the gold and silver markets post the QE4 announcement, the fiscal cliff, the CFTC’s silver probe, and the unprecedented 20 million oz of silver still standing for December delivery.
Harvey stated that the CFTC’s silver probe has concluded, but they can’t release the findings because it would collapse the entire financial [...]
from silverdoctors:
The Doc sat down with Harvey Organ again for the 2nd of several interviews regarding the recent massive cartel intervention in the gold and silver markets post the QE4 announcement, the fiscal cliff, the CFTC’s silver probe, and the unprecedented 20 million oz of silver still standing for December delivery.
Harvey stated that recent evidence seems to validate his long held suspicions that China is behind the big gold & silver shorts, [...]
from silverdoctors:
Jim Sinclair sent subscribers an alert today, urging PM investors to stay the course in the midst of massive cartel interventions in the gold and silver markets. Sinclair states that the downward economic spiral caused my excessive amounts of debt cannot be stopped by central interventions or media propaganda, and that there is no tool in any central bank’s tool box to fix the size of the overmuch debt problems.
Sinclair urges [...]
‘Are any primary dealers going to be fired?’
With Libor back in the news, here’s a look at Bernanke’s testimony from late July. This is actually pretty decent work from Waters. She questions Bernanke on primary dealers and whether any are going to be ‘fired’ by the Fed if found to be guilty of Libor manipulation. Yeah, right. She also asks Ben for his opinion on eminent domain seizures in California as well as the [...]
Back To Fiscal Cliffs
market-ticker.org / By Karl Denninger / December 19, 2012, 11:38
The latest is that Obama has issued a “veto threat” over Boehner’s “Plan B.”
A laughable response, of course, since The Senate was never going to pass it in the first place. Indeed, I doubt you could manage to get it on the floor of the Senate, say much less get an affirmative vote, given Reid’s control of the chamber.
The simple [...]
from silverdoctors:
Martin Sibileau’s December letter is a MUST READ, and examines what causes hyperinflations, and why one has not occurred yet in the US.
What causes hyperinflations? The answer is: Quasi-fiscal deficits! Why have we not seen hyperinflation yet? Because we have not had quasi-fiscal deficits!
As anticipated in my previous letter, today I want to discuss the topic of high or hyperinflation: What triggers it? Is there a common feature in hyperinflations [...]
December 19, 2012; An American Reckoning
An American Reckoning, a preview:
Is gold manipulation a factor in price?
100 yrs of the Fed and 95% loss in the dollar
Career politicians vs. true Statesmen
Standard Podcast Hide Player | Play in Popup | Download
Doubling The Tax Rates For Rich Is Not Even Enough To Close The Deficit
THE FINAL CRASH – THE END OF U.S. DOMINANCE IN 2013 – Part Two – The Economic Crash of 2013
Regardless of the outcome of [...]
ZURICH/LONDON – UBS will admit to criminal wrongdoing by its Japanese arm, where one of the Swiss bank’s traders manipulated yen Libor and euroyen contracts, to secure a $1-billion-plus settlement with regulators, people familiar with the matter said on Friday.
Japan’s financial regulator last December ordered UBS’s Japanese securities arm to suspend Tibor- and Libor-related derivatives trading for a week after a probe found a former trader attempted to influence the [...]
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