Interesting Times …

The Chinese have an ancient curse which states:

“May You Live in Interesting Times”

Well guess what? That’s exactly what you are doing right now, but maybe
you just haven’t noticed it. Or maybe you just accept it now as normal.

Let me explain. We are living in the most unusual (read interesting) set
of financial circumstances that this world have ever seen.

Maybe you have been so exposed to it and so familiar with it that you now
accept it as normal. We no longer have a sound financial system. It has
been replaced with the biggest Ponzi Scheme of all time. What is
considered normal or acceptable has shifted, slowly but surely with the
passage of time.

Central Bankers are to be blamed for all of these woes (ok TBTF banks
too). But continually manipulating the supply of money in their respective
systems, they have diluted all our precious money. so much so, that we are
nearing the point of collapse, where it is just not credible anymore.

Take some precautions and make sure that you have at least 5 percent of
your net worth in some form of material asset: Gold, Silver, farmland,
land, or something. Of all Gold is probably the easiest to handle. That’s
why we recommend gold. It’s REAL MONEY!

So to recap. Don’t loose the faith and keep stackin’ …

© Copyright MMXIII RagingGoldenBull.com

Quote – Ayn Rand on Destroyers, Money and Gold

Author, Playwright, novelist, amatuer philosopher, and essayist

Ayn Rand

“Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. This kills all objective standards and delivers men into the arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a check drawn by legal looters upon an account which is not theirs: Watch for the day when it bounces, marked “account overdrawn.” “

  • Ayn Rand (Alisa Zinov’yevna Rosenbaum)

More Golden Money Quotes

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Quote – JP Morgan on Gold

JP Morgan - Showing uus all that tings don't really change...

JP Morgan himself. Any relation to Cap’n Morgan?

“Gold is Money. Everything Else is Credit”

  • JP Morgan (New York Banker, December 18 and 19 1912)

So there you have it. Straight from the horses mouth.

And what is really interesting here is how this quote came about. This was not some simple quip on the street, or over a glass of wine too many after dinner impressing friends. No Siree!

This my little chums, was delivered straight from the horses mouth to congress when he was being cross-examined by a “special committee” for bank fixing which was going on back then! Or, in their words Appointed for the Purpose of Investigating an Alleged Money Trust in”Wall Street.”

You see back then there was a strong suspicion that the bankers were colluding (Noh say it aint so! Gasp, shock, horror. Not like LIBOR or something?!), and this was called the “Money Trust”. This was before the Federal Reserve, but about the time of the Jekyll Island stuff (see here).

For those interested, I have a transcription of said JP Morgans Testimony right here before the “Bank and Currency Committee of the House of Representatives”. I invite you to notice that Jamey Dimon is much more smug these days (did you know that he is a bubble? So he is not just making the bubbles, he actually is a bubble himself ;.).

Another little bit of bunk – Mr Morgan was almost 75 years young when the Titanic sank. He had his own private suite and promenade deck on the Titanic. He was supposed to join her for her maiden voyage but cancelled last minute, sparing him the fate of many of his other millionaires buddies.

So there you go geezer – “Plus ça change, …” and all that… Things have not changed one bit…

More Golden Money Quotes

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UBS to Pay Over $450 Million to Settle Libor Probe

UBS are getting hammered (as they should be):

“ZURICH–UBS AG (UBS) is close to a settlement with U.S. and U.K. authorities and is expected pay more than $450 million over claims that some of its employees reported false Libor rates to boost the bank’s profit, the New York Times reported Sunday, citing anonymous officials briefed on the matter.

If the Zurich-based bank agrees to the deals with various authorities, the collective penalties would yield the largest total fine to date related to the rate-rigging inquiry and would increase the likelihood that other financial institutions would face stiff penalties, it reported.

UBS wasn’t immediately available to comment on the report.

Authorities dealt their first blow in the rate-rigging case in June, when U.K. bank Barclays Plc (BARC.LN) agreed to a $450 million settlement.

U.S. officials are hoping to complete a deal with UBS by the middle of the month, according to officials briefed on the matter, the paper reported.”

see the full story:

http://www.nasdaq.com/article/ubs-to-pay-over-450-million-to-settle-libor-probe-20121203-00132

 
© Copyright MMXII RagingGoldenBull.com

Richard Russel Fears that Money will Die

Richard Russell is convinced that we are in the End-Game of this financial regime and that money will die because of the Federal Reserve intervention and government manipulation.

Richard Russell

Richard Rusell was one of the first News Letter authors

Here is what he had to say:

“At any rate, I’m personally torn between putting all my assets into bullion gold coins or leaving half in gold and half of my assets in US dollars. Very frankly, I’m no longer even thinking of making money in the markets — I just would love to keep my purchasing power intact. On top of that, I don’t trust the government, and I don’t trust the Fed or the Treasury. In their demand to making Fed notes the only legal tender money, I believe the Fed (and the government) would stoop to any trick or law or machination to ensure that Americans must accept Fed notes as the only legal tender money.

The government (Congress?) could pass a law outlawing any transactions in gold or silver or any precious metal. The government could halt the trading of gold or gold ETFs. Or there might be a dozen tricks that the government could use that would outlaw the use of gold as legal tender. Then, there are always taxes as a barrier to even owning or trading gold. As it is, the IRS treats gold as a collectible and taxes you when you sell your gold.

So I dunno, hold all your assets in gold bullion coins? Frankly, I’m afraid to. The bankers demand that I use their rotten fiat notes as money, and believe me, the bankers (the Fed) run the country.

Thus, I am doomed to hold some dollars, and, in turn, my dollars are doomed to lose purchasing power month after month, and year after year. Talk about robbery!

What about owning stocks as a way to keep your purchasing power? Bill Gross of PIMCO thinks stocks will be a lousy investment over coming years, and he thinks bonds will be even worse.”

Well sobering thoughts indeed but according to Jim Sinclair there will be no chance of Gold-Confiscation – But does anyone really know?


www.HyperSmash.com

© Copyright MMXII RagingGoldenBull.com

So They Really Do Manipulate The Price Of Gold and Silver …

RagingGoldenBull-Gold01

RagingGoldenBull-Gold01

The situation really is getting really, really, really weird. And then some.

If I did not know better I would say somethings gonna blow. After the now infamous letter from Greg Smith entitled “Why I Am Leaving Goldman Sachs” to the New York Times, another open letter has been posted around same time, this time to the CFTC (Commodity Futures Trading Commission), but this time from JP Morgan Chase. Here’s a taster:

“I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.”

If this is true – the implications are scary (and someone is going to be fired in the morning…”I don’t care…Just fire someone!”)

Of most interest to us Gold/Silver Bulls is that there is direct mention of contrived manipulation and even co-coordinated efforts from the Big 5 Investment Banks to actually drive down the price of gold and silver. The Bernanke (“Bilderberg” Ben as he is now known) incident (testamony – Feb 29 – leap year day) where Gold dropped 100 USD in a day (yes I was trading at the time and watched the vertical drop yellow line with a sickening stomach sourced, nauseating swelling and spinning sensation rising up through my body – getting giddy and heady – as only a trader could know – especially as I had just put in two large buys minutes before …Buggerus Maximus!) is explicitly mentioned which is a good thing:

“January is right around the time we started increasing our short positions quite significantly again and this most recent crash in gold and silver during Bernanke’s speech on February 29th is of notable importance, as we along with 4 other major institutions, orchestrated the violent $100 drop in Gold and subsequent drops in silver.”

I do lots of trades and every now and then you wonder “Is it me?… Or maybe I just can’t cut the mustard to trade anymore.” and then “Maybe I should just apply for that part-time job I saw in the window of the florists”. Then you find out someone is manipulating the bloody market. The game is rigged. Well ultimately they won’t win THIS game with gold – that is why I am playing this game.

Seriously, for years I read, and heard about the manipulation of the Gold markets, prices being controlled and my attitudes was that it can’t be true. As I get older I have to admit that that was naive to say the least.

If this letter (see below) is a hoax at least it will make people think. If it is true, maybe we could see a turn around in Wall Street mentality of staff who are actually as sickened (maybe even more – I know how it is to work in a hell-hole corporation) as we are! Maybe we will have a stream of whistle blowers come out of the woodwork…Weird, weird times my friend.

Here is the full open letter:

From: Z A N
Organization(s):
JPMorgan Chase

Comment No: 57019
Date: 3/14/2012

Comment Text:

Dear CFTC Staff,

Hello, I am a current JPMorgan Chase employee. This is an open letter to all commissioners and regulators. I am emailing you today b/c I know of insider information that will be damning at best for JPMorgan Chase. I have decided to play the role of whistleblower b/c I no longer have faith and belief that what we are doing for society is bringing value to people. I am now under the opinion that we are actually putting hard working Americans unaware of what lays ahead at extreme market risk. This risk is unnecessary and will lead to wide-scale market collapse if not handled properly. With the release of Mr. Smith’s open letter to Goldman, I too would like to set the record straight for JPM as well. I have seen the disruptive behavior of superiors and no longer can say that I look up to employees at the ED/MD level here at JPM. Their smug exuberance and arrogance permeates the air just as pungently as rotting vegetables. They all know too well of the backdoor crony connections they share intimately with elected officials and with other institutions. It is apparent in everything they do, from the meager attempts to manipulate LIBOR, therefore controlling how almost all derivatives are priced to the inherit and fraudulent commodities manipulation. They too may have one day stood for something in the past in the client-employee relationship. Does anyone in today’s market really care about the protection of their client? From the ruthless and scandalous treatment of MF Global client asset funds to the excessive bonuses paid by companies with burgeoning liabilities. Yes, we at JPMorgan that are in the know are fearful of a cascading credit event being triggered in Greece as they have hidden derivatives in excess of $1 Trillion USD. We at JPMorgan own enough of these through counterparty risk and outright prop trading that our entire IB EDG space could be annihilated within a few short days. The last ten years has been market by inflexion point after inflexion point with the most notable coming in 2008 after the acquisition of Bear.

I wish to remain anonymous as of now as fear of termination mounts from what I am about to reveal. Robert Gottlieb is not my real name; however he is a trader that is involved in a lawsuit for manipulative trading while working with JPMorgan Chase. He was acquired during our Bear Stearns acquisition and is known to be the notorious person shorting in the silver future market from his trading space, along with Blythe Masters, his IB Global boss. However, with that said, we are manipulating the silver futures market and playing a smaller (but still massively manipulative) role in manipulating the gold futures market. We have a little over a 25% (give or take a percentage) position in the short market for silver futures and by your definition this denotes a larger position than for speculative purposes or for hedging and is beyond the line of manipulation.

On a side note, I do not work directly with accounts that would have been directly impacted by the MF Global fiasco but I have heard through other colleagues that we have involvement in the hiding of client assets from MF Global. This is another fraudulent effort on our part and constitutes theft. I urge you to forward that part of the investigation on to the respective authorities.

There is something else that you may find strange. During month-end December, we were all told by our managers that this was going to be a dismal year in terms of earnings and that we should not expect any bonuses or pay raises. Then come mid-late January it is made known that everyone received a pay raise and/or bonus, which is interesting b/c just a few weeks ago we were told that this was not likely and expected to be paid nothing in addition to base salary. January is right around the time we started increasing our short positions quite significantly again and this most recent crash in gold and silver during Bernanke’s speech on February 29th is of notable importance, as we along with 4 other major institutions, orchestrated the violent $100 drop in Gold and subsequent drops in silver.

As regulators of the free people of this country, I ask you to uphold the most important job in the world right now. That job is judge and overseer of all that is justice in the most sensitive of commodity markets. There are many middle-income people that invest in the physical assets of silver, gold, as well as mining stocks that are being financially impacted in a negative way b/c of our unscrupulous shorts in the precious metals commodity sector. If you read the COT with intent you will find that commercials (even though we have no business being in the commercial sector, which should be reserved for companies that truly produce the metal) are net short by a long shot in not only silver, but gold.

It is rather surprising that what should be well known liabilities on our balance sheet have not erupted into wider scale scrutinization. I call all honest and courageous JPMorgan employees to step up and fight the cronyism and wide-scale manipulation by reporting the truth. We are only helping reality come to light therefore allowing a real valuation of our banking industry which will give investors a chance to properly adjust without being totally wiped out. I will be contacting a lawyer shortly about this matter, as I believe no other whistleblower at JPMorgan has come forward yet. Our deepest secrets lie within the hands of honest employees and can be revealed through honest regulators that are willing to take a look inside one of America’s best kept secrets. Please do not allow this to turn into another Enron.

Kind Regards,
-The 1st Whistleblower of Many

I eagerly await the development of this story with bated breath.

P.S. Gold is still floundering around 1,650 USD/Oz, dazed and confused (but not for long!).

© Copyright MMXII RagingGoldenBull.com