Wednesday, July 11, 2012

DON'T WORRY

Don't worry I just want to know the truth.......I don't want to be lied to. Of course now days there is no chance of lying. Everything is known. In fact its so highly controlled that you don't even have to try and influence the politicians since they already are on the payroll and know what they have to do. Its a well oiled machine.

How did you like the action in the metals today. Astounding movement that left you gasping and on the edge of your seat. Thank goodness I didn't have the time to spend monitoring much of the last two days action. An absolute waste of time and totally expected. Of course I may get a surprise but I expect the current range to be maintained for at least a few more weeks now. Maybe we will get some of the boyz slipping into the trade before the Hamptons close down but I think they will try and maintain the schedule. After all its there casino and any violation is not tolerated.

Step out of the club and your fate is sealed just ask the latest MF global team. Whoops ......I guess "suicide" is one way to resolve loose ends. If you don't believe the warnings of Red that the end game is to strip away all your flesh before they fly off to their bugout locales then just read the PFG story. JPM cleaned out the players with prejudice.

http://articles.chicagotribune.com/2012-07-10/business/chi-attain-capital-caught-in-peregrines-troubles-20120710_1_peregrine-financial-peregrine-troubles-customer-funds

Next on the agenda is the latest country to strip and primarily I believe gold bullion is their target so if you are a sovereign with a nice store of gold then you are vulnerable. After all what good is the greatest military force ever assembled if you can't rob another country blind. Go back and check out General Smedley Butler's conclusions. Nothing has really changed.

We are all rearranging the deck chairs on the Titanic right now, and that provides my distraction from the reality of the game. Even perfect timing will not provide you a win, but you can always hope the light at the end of that tunnel is not a train. Unfortunately the conclusion is much nearer now than it was three years ago.


61 comments:

  1. I think the Fed has one bullet left in the chamber and it's a big one. I'm guessing mid September is when they fire the gun. That'll give Obama a few good prints leading up to the election and there will probably be an excuse for higher gas prices. War? It won't be the Fed, that's for sure. Once that doesn't work, I think we'll be near the end of things as we know them.

    Separately, my gut tells me that Obama's killing off the coal industry is all about handing it over to his cronies, big oil? I'm waiting to see who comes in and buys up these companies since it will make it obvious who was behind Obama's actions.

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  2. Yes SK the next bullet is over a TRILLION and when you add up the other CBs it may total TRILLION. It should be spectacular.........

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  3. correction total will be several Trillion

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  4. Some follow up:

    I wrote a few weeks ago that the Keystone Speculator bought SVU (Supervalu) which pays a nice dividend. I never bought any, but had it on my watch list. Well, it is down 36% in the pre-market (poor earnings and suspended its dividend). So, Keystone was wrong.

    Well, Keystone continues to believe Gold will fall and posted a chart today on its website. Keystone feels that gold will break lower out of its triangle, and has a target of about 1225.
    Will they be right this time? We will see.

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  5. Good morning all..To follow up on SK's comment. I am thinking August at the Jackson hole event. the spx needs to have an 11 handle. This is going to get ugly I believe.

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  6. So much blood... a lot of it mine heheh ;)

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  7. GM all...yes doc InTheMoneyStocks also has a gld target of 1230 or so. Their calls have been pretty good s-t, not sure about this one but I guess nothing would surprise me. Unfortunately, they may also be handing over the miners to the banksters. I am beginning to feel like the bigger fool. Hope it doesn't last another 300 pts.

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  8. Also think this is a good summary of where we are: http://www.screwtapefiles.blogspot.com/

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  9. morning......looks like Ben is playing it out as expected, buying time as they prepare to unleash the Kracken ....it won't work but it will be big. The only question I have is how far they want to take down gold and the miners. No one knows of course so consternation over their timing is needless. Concentrate on preparation and family. The CNBS is noise is becoming increasing shrill and worried......they aint seen nuttin yet......

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  10. BTW this is for the Cabal........I will be adding physical gold at 1528.....it may go lower but I believe they will give me that buy level......and I will take it.....hoping they take it below 1400......but have to stay with the plan.....gl all

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  11. Everyone here should be scaling into ARNA, the big boys are pushing out weak hands, one week from now VVUS at $26 pps with no fda approval will here back from the FDA with decision.. Cramer and AF are bashing it hard...the stock is owned 70% by retail..these guys want in...think of it as 2 year investment and you might get 45-50 pps, similar to qcor....doctors will prescribe this in mass to their obese clients...VVUS has some heart and birth defect issues..if they approve VVUS, ARNA will still be $15-20 pps...

    dd required...

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  12. http://www.zerohedge.com/contributed/2012-07-12/today-best-day-buy-gold-thackrays-2012-investors-guide

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  13. clarification-ARNA is stock owned by retail..VVUS has many big mm's in the mix, they could take a big hit next week. The VVUS management team sold a couple million shares recently...they are not confident of approval...ARNA is being held down to grab shares...

    Why would an approved diet drug, first one in 10 yrs have a lower pps than one not approved...the big boys picked wrong player...war has begun and I'm in it...scalp the surges and buy back on hits while holding core..no different than your miner strategy..

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  14. agree.......and will maintain trading position if they can tank it then it will be a gift so will load it

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  15. Next week is the war between manipulation of gold by the West, and appetite for buying gold in the East, both from friendlies and enemies. Anyone that does not see today’s gold market as a rig is blind or brain dead. There is a full blown crisis in Western world banking today, right here and now. There is a full blown crisis in sovereign debt of some weaker nations as in a very short while certain government will be out of money. The Eurosnobs hate each other which does not make for a fast reconciliation of a crisis.

    It is a myth that Western banks are strong enough to weather the storm of a full blown banking crisis in Europe.

    It is a myth that the Federal Reserve will stand as the one hawk in the Western world and fiddle while it’s Rome burns.

    It is a myth that Obama could be re-elected if the Fed remains intransigent.

    It is a myth that Finland or Germany will strike a match to the euro that totally wipes out the largest part of their exports.

    It is a myth that governments are ready to face the economic, social and political fallout standing austere as their economies implode, which they will.

    It is myth that there is any recovery in the USA. By falling more we will be in a depression.

    It is a myth that because thousands of bears email me that somehow they can convince me of the opposite when I know I am correct.

    Next week will be the time the cartel tries to break the gold price again. They have failed seven times, and will fail on the 8th. Gold is going to $3500 and above. All the lying and conniving only means the price will go higher. Just as Morgan’s whale could not fight the market, the cartel cannot fight gold as we have a flight away from all fiat currencies.

    How can anyone in Europe sleep tonight with cash in the bank, even amongst the stronger nations whose banks are loaded with weak nation’s paper. The house of cards is coming down right now. Trying to manipulate the price of gold to hide the crisis at hand is futile.

    If you have your positions on margin you are crazy and I cannot do anything for you. All others stand tall because gold will trade above $3500 and not in some LaLa Land future of Armstrong’s imagination.

    Respectfully,
    Jim

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  16. Also, zlcs holding up well considering.

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    1. I'm looking for bigger move in next 2-4 months from ZLCS..

      Brazil and South Korea lowered rates yesterday...

      more cover for Ben missle.. Jackson hole could be the timing...

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  17. This is some amaaaazing action in the PMs today! Saw the lowered rates news last nightand figured on big bounce today, lol. In the meantime, it's more election yr. bs all over the news.

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  18. Dumped my silver calls at the bottom grr... but switched to SPY Calls for that pop just now. Yay! Sick of jacking with trading silver for now but again held its bottom for the umpteenth time. Going long AUG JPM $34 puts. Agree with honest about ARNA big time, should be a killer longterm play once the MMs stop jacking with it.

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    1. Should've held those SPY calls... damn!

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  19. Miners making a push here. Some close green? Silver actually is green!!

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  20. SVM did finally pierce 5 dollars to drop to 4.93, but quickly bounced and now almost even for the day. But, I am not sure that this sell off is truly over.

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    1. of course we don't know doc.....we arent supposed to.......BTW all.....THIS is why physical gold will go to unheard of heights......

      http://www.zerohedge.com/news/chronology-collapse-santellis-primer-pfg-debacle

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  21. read closely for our future....getting very close

    http://www.zerohedge.com/news/guest-post-five-things-i%E2%80%99ve-learned-ground-portugal

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  22. Kli,

    What's your take on Marty Armstrong?

    If you use the concept of Supply & Demand, many people are living paycheck to paycheck. They have no money to buy physical Gold. Now with money being lost/stolen (PFG event), those clients now have no money to buy physical Gold. So, where is the increasing demand (money) going to come from? I can see buying physical gold to preserve wealth, since Gold will always be worth something, but how is the actual price going to get bid up?? Perhaps Sinclair feels there are enough people with spare cash that they will at some point become fearful enough buy and thus bid up Gold.

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  23. http://s17.postimage.org/o3qcygfxr/Dow_7_12_12_close.jpg

    will the 180sma hold?

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  24. The physical bidders are sheiks and sovereigns who currently hold a little too much Treasuries or Eurobonds, and wanting a little more diversity in their portfolio through the bad times. Oh and your dime a dozen millionaires who don't want to end up MFG/PFG/Madoff/JPMorganed. Eventually all paper positions will be suspect with all the foxes raiding the hen house. Latest fiasco is Municipalities doing what homeowners have been doing, strategic default/bankruptcies to walk away from their obligations. These deflationary actions will force the central banks to print even more money until none of it has any real credibility.

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  25. Red,

    Thanks!

    Marty Armstrong just seems so convinced that Hyperinflation cannot occur with the US dollar, unless the United States as we know it no longer exists. But, I suppose anyone can be wrong. After all, at no time in history has there been a globalized economy like we have now or the coordinated efforts of so many central banks. The debt that is piling up is unimaginable.
    It isn't that Marty is anti-gold, but his timeline is much longer then Sinclair's seems to be.
    Like everyone here, I am trying to figure out how all this plays out. I just can't see you average "Joe" selling what they can so that they can go buy a gold coin. What do they do then? It seems to me that most people are not going to be able to buy any.

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  26. Red is correct. As far as Marty goes....I don't want to comment until I've looked at some of his recent postings. Doc ....99% of the peeps will own NO gold or virtually no gold. It is the money of kings for a reason. Gold protects wealth and most of the peeps have NO wealth except their house or farm. Most peeps live paycheck to paycheck and with whatever meager savings they have the last thing on their mind is spending half of it to buy three gold coins. Physical gold is not in the equation for the public. It's headline price IS a big problem since sovereigns and the wealthy DO accumulate it in large quantities to protect true wealth. There are those of us that have some disposable income that buy the physical but percentage wise probably not a big factor. The balancing act of the headline price and retaining the physical bullion is a major issue for the cabal. No one knows how long the fractional gold loaning game can go on but there has to be enormous pressure exerted on the cabal. So I pay no attention to the day to day prices.....time is on my side

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  27. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/7/12_Fleckenstein_-_Central_Banks_%26_The_Fed_Are_Close_To_Panic.html

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  28. Am also concerned about confiscation and/or trying to cash in. There is already a law against mailing coins according to M.Armstrong. That is why I am stashing mini bottles and later on may buy cigarettes for barter. Still, they could realistically take everything as all they really have to do is raise property taxes beyond reason which is already starting to happen. It's all so disgusting. Watching what's left of the markets makes us know how crooked they are. Have it on good authority that we would be amazed at the amt. of money spent of trying to hide truth from us/mislead us. It's really sick.

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    1. your thought process is correct.....spread your risk....many can be more creative with diversifying with self sustaining food sources eg. chickens gardens livestock fish ponds etc.........and for those that believe they can just hunt their protein...be careful.....the land was cleared of wild game in the 30s.......

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  29. http://www.swpc.noaa.gov/index.html

    The sun is part of the problem with heat..its active and sending another blast out today...

    stuff happens..
    http://www.history.com/news/a-perfect-solar-superstorm-the-1859-
    http://en.wikipedia.org/wiki/Solar_storm_of_1859

    it would not be a good thing today....

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  30. Sis,

    “They could realistically take everything as all they really have to do is raise property taxes beyond reason which is already starting to happen.”

    “It's all so disgusting.” You’re being too polite…… hehehehe

    In my neck of the woods this has been going on for a better part of ten years with property taxes, it’s out of control now and it’s only going to get worse. I just wonder how long before it becomes truly intolerable. The Idiots in charge are truly clueless and act like deer’s in head lights when dealing with any fiscal issue. Can kicking is the political sport round here and they are running out turf……..

    The County I live in is ranked 11th in terms of wealth nationally and ranks in the top 5 in property taxes, yet the same County has had a State Oversight Board since 2011 looking over their shoulders because the books are such a mess.

    http://www.nytimes.com/2011/01/27/nyregion/27nassau.html?pagewanted=all

    The funny thing is, well not really funny but you just have to laugh is any time someone comes up something that resembles a solution or at least a temporary remedy the clown parade gets into gear, law suits start flying, the advocacy radio ad’s start rolling all to defend the status quo that is bringing us ever closer to becoming Stockton Ca, Scranton Pa, ect…..

    Actually, we are already there but no one is willing to admit it at the moment, there are very few folks round here that to see reality but for the clueless majority it’s sure going to smack them right in the face very soon!

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  31. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/7/13_A_Clash_Of_Two_Systems_On_A_Global_%26_Historic_Scale.html

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  32. http://www.zerohedge.com/news/peak-gold

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  33. JPM oonly lost 5 bilion let us rally! Fraud at fraud central. lol.

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    1. Augh my puts hurt :) JPM will go down but I was early to the party as usual. Libor scandal is just getting started.

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  34. I've got a good entry on TZA holding fer know.

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  35. he sequence of financial scandals must be noted. It is difficult to discern exactly the forces behind the sequence of cases, but the chain of dominos on effects is intense and blatant. This chain will continue until a systemic collapse is visible to expert and commoner alike. The LIBOR scandal is the latest link in the chain. The corruption channel is full. The exposure is glaring. The fan to distribute shame is revved up. The scandal is widening. The pressure is mounting. The bankers have never been on the defensive this much for alleged corruption, accused corruption, and admitted corruption. Their most vulnerable points are under attack. Big damage is done in recent months. Event #1 was MFGlobal. Event #2 was JPMorgue losses tied to IRSwaps. Event #3 is LIBOR price rigging. They are all related, from vast insolvency and illiquidity that built over three years time. Other events will come, only later to discern their connection to the sequence. My firm belief is for event #6 to be Gold Allocated Account raid scandal. The bankers have improperly accessed at least 20 thousand tons of allocated gold, replacing them with gold certificates without permission or knowledge of by the account holder. The volume of raids could be as much as 40 thousand tons. My gold trader source is adamant about the level of raids, and expects a scandal to shake the Western world banking system to the core, resulting in massive prosecution. This deadly chain all began with Lehman Brothers, whose killjob involved a pure skate on the deeply corrupt and mischievous activity that should have resulted in a gigantic scandal in 2009 and 2010. Yet US regulators ignored the produced criminal fraud evidence, and the clock moves on. In truth, event #0 was the TARP Fund and the $700 billion gift never fully scrutinized or prosecuted for its fiduciary violations and extortion angles.

    WHEN THE ALLOCATED GOLD SCANDAL HITS, THE GOLD PRICE WILL RISE TO MULTIPLES OF THE CURRENT PRICE. IT WILL BREAK RANKS FROM THE PAPER CLUTCHES AND PHONY PRICE DISCOVERY METHODS. THE GOLD PRICE WILL EASE PAST THE $5000 PER OUNCE MARK, AND TAKE SILVER ON A GREAT UPWARD RIDE. YOU SEE: THE BANKERS WILL HAVE TO REPLACE THE GOLD BY OPEN MARKET PURCHASES AS RESTITUTION!!

    The events will continue to occur in a sequence, probably managed much more than we are told. My suspicion is a new sheriff is in town, who stepped off a jetplane a few months ago from an Eastern location. Some suspect the Western castle dwellers are staging a systemic collapse in order to impose a new centralized government. It would not be pretty, nor permit rights or liberty, and be described as a debt slavery serfdom. My belief is that the Western strategy is backfiring, as de-centralization is occurring, the exact opposite. The primary secure safe haven is Gold, always has been Gold, and always will be Gold. The experiment since 1971 when the Gold Standard was unilaterally broken by the United States is coming to a conclusion. The wreckage is complete and a great tragedy. A new system will emerge, but only when the current system is in a shambles and the main captains in the banking sector have found other employment, perhaps making license plates and presiding over a system where cigarettes serve as legal tender in a closed system. My suggestion is for human teeth to be a better medium of exchange. Let's hope they are kept deep underwater, where in time they can sleep with the fishes. from Market Oracle

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  36. http://www.zerohedge.com/news/cmes-150-hike-gold-collateral-just-ploy-increase-amount-legally-confiscatable-gold

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  37. You know this is true Kli. No reason to believe otherwise. I wonder how many times a bar of gold is leveraged. A home was levered by the banks upwards of 50:1. Gold? Now a soon to be tier one asset in book A and heavy levered liability in book B. lol. Banksters.

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  38. Art Cashin just put a bid on miners and I am on board.

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  39. well sheeps does it really matter? most on this blog even knowing or at least believing most of this still own NO physical gold. I would love to be able to take a poll but my guess is most own NONE or only a couple of coins....at least that is my anecdotal experience. If you apply that to the broader U.S. population then 99% own no physical. That has been the game of the cabal for the last 40 years and they have been very successful using the fractional system/unallocated game.....IF you realize this then you can play at least with a chance of some success

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  40. perfect example....one of commenters that is a friend of mine and knows very well how rigged all the markets are owns NO gold and worse.......NO SILVER. Silver is a cheap way to hedge yourself but he owns NO PHYSICAL silver....he does keep a nice store of fiat under the mattress.....and when I ask him how he likes the degradation of his fiat purchasing power with essentials like food and gas and why he wouldn't even take 25% of it and put it in physical silver he just smiles and gives a blank look as an answer....ie....the CABAL HAS HIM CONVINCED THAT FIAT HAS LONG TERM VALUE....even though for a hundred years the purchasing power of the dollar has decreased 98%......hehehhee.....its the old frog in the slowly rising boil analogy.....most peeps will never be capable of understanding

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  41. Most peeps just have other priorities. I feel preety lucky that i see the light at the end of the tunnel and know it's a train.

    The thing with banks and PM, unlike housing which they securitized, the bankster will have to buy back or attempt to buy back at some point.

    BTW, found a buyer for stuff I grow. Currently growing Ice box melon, French melon, celery root and kolrabi...should make a little money...

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    1. it is called cognitive dissonance. I have no problems with peeps that are living paycheck to paycheck and have no fiat. My issue is with the peeps that have discretionary fiat AND believe the system is a ponzi and are taking no action to hedge themselves.....and there are plenty of these peeps slowly boiling out there.....its called LAZINESS

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  42. There was this farmer in South Africa. He was not that good of a farmer. Many of his friends quit farming and started hunting for diamonds. The farmer barely got by and the work was hard. One day he gave it up sold his farm and took off to hunt for diamonds. Soon after the new owner of the farm was working the land very hard tilling the soil deeply as it should be. Then one afternoon the new owner found....guess what..a diamond. One of the biggest ever found.

    My belief is that local farmers will be compensated well in the future where local food may be the only option.

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    1. yes sheeps ....more security than even physical gold and silver can provide....REAL assets that people will have to have....essential resources food water energy shelter.......NOT JUST GOLD......this is NOT a one trick pony blog....my point is if your liquid assets are only fiat dollars then you are going to be sadly disappointed in the long run

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  43. Maybe I will make some money on KGC. Talks of a ABX making an offer.

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  44. SSRI maintained its daily channel.....hmmmmmmm.....you can always hope

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  45. What do you guys think of this? Maybe gonna ease from juniors to majors: http://www.theaureport.com/pub/na/13854 Majors will buy juniors at the very bottom. Sounds like a plan for the big boys. Hate like heck to take my losses but it could get even worse?

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  46. careful getting whipsawed sista

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  47. Posted by Ann Barnhardt - July 9, AD 2012 11:22 PM MST
    Uh, so do you believe me now?
    When I said, "Get the hell out," do you understand that I meant to GET. THE. HELL. OUT.?

    When I wrote in my Going Galt Letter that the problem was SYSTEMIC, do you now understand that I wasn't just typing big, fancy words so that I could hear the soft pitter-pat of my keyboard?

    When I said over and over again in interview after interview that the so-called regulatory system overseeing the futures industry was no such thing, but rather an evil, despicable mafia, administered by politicking psychopaths on the take, and staffed by affirmative action hires to provide plausible deniability and scapegoats, WERE YOU NOT LISTENING?

    How did I see this coming? How could I NOT see this coming?

    PFGBest, which used to be the old Alaron Trading, has stolen at least $220 million of customer funds, which is fully HALF the entire customer asset base. The firm's owner attempted suicide this morning in the parking lot outside of the corporate HQ in Iowa.

    While claiming to have over $200 million in bank accounts, it turned out that PFGBest only had $10 million at most. And they had been short NINETY-FIVE PERCENT of their seg funds for at least five months, and it may be closer to two years. The reportage on the timelines is very fuzzy.

    Alright. Here's where we call bullshit. Action item number one for any auditor is the independent confirmation of bank account balances. When little tiny me was audited both by the regulators AND for my annual Sarbanes-Oxley audit done by a local accounting firm, the first thing I had to do was sign the balance confirmation requests that the auditors then sent to Wells Fargo. This is the fundamental purpose of an audit. Make absolutely sure the flipping money is where they say it is.

    What this PFGBest situation tells us is that the auditors were NOT independently verifying the bank account balances and were instead using internal, falsified, forged documentation provided not by the bank, but by the firm itself.

    Oversight by the auditors? Mistake by the regulators? Oopsie? No flipping way, Jack.

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  48. Try: Premeditated fraud. Try: Conspiracy. Try: Full knowledge, complicity and cooperation by the regulators in covering the stolen customer funds, and all within mere WEEKS of MFGlobal.

    Try: Capital Economic Treason.

    Try: Life in prison or execution.

    Some of the MF Global rape victims were actually bulk transferred to this firm back in November. The owner (who attempted suicide this morning) pitched a fit back in November and got about 700 of the MFG accounts bulk transferred over to PFGBest.

    So, yes, there are now people, many of whom are agricultural hedgers, who have now been raped by having their equity stolen TWICE in nine months.

    And yet, how much do you want to bet that a significant percentage of these people go back for more? How many of them are so whipped, and so stupid, and so convinced that they just have to be trading futures and options because that's what all of the cool kids do, that they will go right back to the Penn State gang showers with Mr. Sandusky?

    How many other traders and hedgers are out there telling themselves that this STILL isn't any big deal, because it didn't happen to them?

    "First they came for the MF Global customers, but I didn't say anything because I didn't clear MF Global. Then they came for the PFGBest customers, and I still didn't say anything because I didn't clear through PFGBest . . . . "

    It seems so familiar.

    Finally, for all of you brokers who cleared PFGBest, not only do I not have any sympathy for you, I actually hold you in contempt, and hope that your clients all sue you personally. You knew that the entire system was suicidally risk-laden and yet instead of being honest with your customers and yourselves and walking away from a known death-trap, you decided to live a damnable lie and pretend like your customers' funds were safe, because you were too chickenshit to do the right thing.

    And that goes for every other broker out there right now. You know that it is just a matter of time. You know that your FCM could blow sky-high next week. You know that every assurance of integrity and solvency and "compliance" is bullshit, and has been bullshit for quite some time. You know that every bank wire and check that comes in from your clients is being deposited into the gaping maw of a living lie. You know the NFA, CFTC, SEC and the CME are lying, thieving psychopathic criminals, and that your clients are viewed as nothing but zeroes and ones on servers that can be "harvested" whenever JPMorgan or Goldman Sachs sees fit to do it, and then Tyqueesha in the back office and LaNeequa the junior auditor and Jamahl the assistant compliance manager/robosigner will be blamed. If you continue to expose your clients to that, then you are no better than the criminals, and will deserve to be sued into the ground for lying to your customers about the safety of the markets.

    The ultimate catch-22: by the very act of being in the futures business, you are by definition breaching your fiduciary duty to your clients, and are thus in violation of the law.

    Welcome to Communism. Welcome to hell.

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  49. I think Ann needs some Alpo love.

    Too many Ponzi holes in the markets, and transparency will take a decade if we start tomorrow. Throw in some ZIRP and insolvent banks using customer deposits as hedging collateral and you have a setup for massive bank runs in terms of physical cash first and then anything of tangible value next.

    Guess JPM's positions are even worse than what they admit, somebody has to buy the losing end of the whale trade and that will reduce liquidity in the system as they go under.

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  50. thanks red...but i think ann is too far gone for even alpo.....anyway your assessment of JPM is spot on and it appears the threat of PM short position and lack of actual physical may be at play in their latest foray into bankrupt commodity players

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  51. http://www.marketoracle.co.uk/Article35537.html

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