U.S. Facing Federal Debt Cataclysm, The Establishment Is In Despair - By Gary North (7/12/10) PDF Print E-mail
Gary North   
Tuesday, 07 December 2010 09:15

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NIA Addresses Bernanke's '60 Minutes' Interview - By National Inflation Association (7/12/10) PDF Print E-mail
National Inflation Association   
Tuesday, 07 December 2010 09:08

Federal Reserve Chairman Ben Bernanke was a guest on '60 Minutes' this evening and the National Inflation Association felt it was important to address Bernanke's comments.
 
Bernanke claims to be concerned primarily about two things: unemployment and deflation. Bernanke says between the economic peak and the end of last year, 8.5 million jobs in America were lost with only 1 million jobs being regained since then. He says it could take 4 to 5 years for the U.S. to get back to a "more normal unemployment rate of 5% or 6%".
 
The truth is, real unemployment in the U.S. today once you account for everybody who has given up looking for work as well as everybody who is underemployed, is already about 22%. NIA believes it is more likely that in 4 to 5 years from now, U.S. unemployment will rise to Great Depression levels. Bernanke's policy of printing money and creating inflation will not create jobs because the money the Fed creates is going to fund non-productive and wasteful U.S. government spending. The only jobs being created are artificial government jobs.
 



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Asian Twist To Explaining The Financial Crisis - By Anonymous (7/12/10) PDF Print E-mail
Anonymous   
Monday, 06 December 2010 22:35

[FF Editorial: This was received through the email. This sums up very well two types of idiots that persist in the world of so-called investment/finance – We hope that you do not belong to either of them]  

HK genius: One day, a plain-looking man came with a pretty-looking office lady to the LV store in Causeway Bay Hong Kong Island. He chose an LV bag worth HKD 65,000 for the office lady. When it came time to pay, the man took out a chequebook and wrote out a cheque. The salesperson was hesitant because the couple hadn' tshopped there before.

The man discerned what the salesperson was thinking and he said calmly: "I sense that you are concerned that this cheque may bounce, right?  Today is Saturday and the banks are closed.  Let me suggest that I leave the cheque and the hand bag here. When the cheque clears on Monday, you can deliver the handbag to this lady. How about that?



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A London Trader Walks The 'CFTC' Through A Silver Manipulation In Advance - By Andrew Maguire, Kingworldnews.com (7/12/10) PDF Print E-mail
By Andrew Maguire, Kingworldnews.com   
Monday, 06 December 2010 21:49

[Below are the email exchanges between Andrew Mcguire and Mr. Ramirez of CFTC, which explains the market manipulation of silver by JP Morgan]
 
 
1st Email:

From: Andrew Maguire
Sent: Tuesday, January 26, 2010 12:51 PM
To: Ramirez, Eliud [CFTC]
Cc: Chilton, Bart [CFTC]
Subject: Silver today

Dear Mr. Ramirez:

I thought you might be interested in looking into the silver trading today. It was a good example of how a single seller, when they hold such a concentrated position in the very small silver market, can instigate a sell off at will.

These events trade to a regular pattern and we see orchestrated selling occur 100% of the time at options expiry, contract rollover, non-farm payrolls (no matter if the news is bullish or bearish), and in a lesser way at the daily silver fix. I have attached a small presentation to illustrate some of these events. I have included gold, as the same traders to a lesser extent hold a controlling position there too.

Please ignore the last few slides as they were part of a training session I was holding for new traders.

I brought to your attention during our meeting how we traders look for the "signals" they (JPMorgan) send just prior to a big move. I saw the first signals early in Asia in thin volume. As traders we profited from this information but that is not the point as I do not like to operate in a rigged market and what is in reality a crime in progress.

As an example, if you look at the trades just before the pit open today you will see around 1,500 contracts sell all at once where the bids were tiny by comparison in the fives and tens. This has the immediate effect of gaining $2,500 per contract on the short positions against the long holders, who lost that in moments and likely were stopped out. Perhaps look for yourselves into who was behind the trades at that time and note that within that 10-minute period 2,800 contracts hit all the bids to overcome them. This is hardly how a normal trader gets the best price when selling a commodity. Note silver instigated a rapid move lower in both precious metals.

This kind of trading can occur only when a market is being controlled by a single trading entity.

I have a lot of captured data illustrating just about every price takedown since JPMorgan took over the Bear Stearns short silver position.

I am sure you are in a better position to look into the exact details.

It is my wish just to bring more information to your attention to assist you in putting a stop to this criminal activity.

Kind regards,

Andrew Maguire



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J.P. Morgan Getting Squeezed In Silver Market? (SLV, JPM) - By Scott Rubin, Sfgate.com (7/12/10) PDF Print E-mail
By Scott Rubin, Sfgate.com   
Monday, 06 December 2010 21:46

[FF Editorial: Please read the email exchange between Andrew McGuire and Ramirez of CFTC, in this Folder for a better understanding on how the silver market was manipulated by JP Morgan]

It is widely known that J.P. Morgan (NYSE: JPM) holds a giant short position in silver. Furthermore, some observers are accusing the bank of acting as an agent for the Federal Reserve in the market - every tick higher in the price of silver undermines confidence in the U.S. Dollar. A lower silver price helps keep the relative appeal of the U.S. dollar and other fiat currencies high.

By selling massive amounts of paper silver in the futures market, JPM has been able to suppress the price of the precious metal. It is believed that these short positions are naked (i.e. they are not backed by any physical silver). In fact, reports indicate that JPM is short more paper silver than physically exists in the world.



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