Saturday, July 21, 2012
Where Money Goes To Die and "Stupidity Arbitrage" - Max Keiser with Wolf Richter + Crime of the century - with Gerald Celente
Big Brother ATF Boss Threatens Whistleblowers + U.S. government admits surveillance breached 4th Amendment ‘on at least one occasion’
On July 9, 2012, ATF Acting Director Todd Jones told potential whistleblowers they will face "consequences" if they don't "respect the chain of command" and ask permission to release information damaging to the agency.
Scandal At The IMF: Senior Economist Resigns, Says "Ashamed To Have Had Any Association With Fund At All"
Submitted by Tyler Durden: The rats everywhere are now jumping furiously off the titanic, but few had taken the time to write a letter explaining in detail just how cracked and broken the hull really was. This has now changed, with the departure of Peter Doyle, formerly a division chief in the IMF’s European Department responsible for non-crisis countries and currently an adviser to the Fund. Not content with quietly slinking off the scandal ridden organization which has become the butt of all jokes in the international community, where humor about Lagarde's Louis Vuitton panhandling bag is as pervasive as punchlines about just how incompetent the organization is at actually doing its duty, Doyle has penned the following scathing letter which tears down every myth about the IMF: from its impartiality, to the selection process of its head, to its effectiveness. The letter also contains the following gem: "After twenty years of service, I am ashamed to have had any association with the Fund at all." Pretty much says it all. This is a scandal in the making, and one which may shake to the core the credibility of the IMF in the context of international organization.
Secret UK family courts are corrupt with unqualified experts stealing children + In the best interests of the child "But it's a lie"
By AimeeCNicholls: This is my message to my half sister Kitty who I'm no longer able to see. After my mum and dad split up I was no longer able to see my dad properly because the courts would not support him or I. Later, when he had another child, my half sister Kitty, and his second wife left him, both the mums worked together to make sure my dad could not see me or Kitty. I want the world to know what's going on because politicians keep pretending this doesn't happen. It happens too much and no one really cares for us kids and what we want or need.
The Slog: As an early propagator of the allegation that JP Morgan Chase deliberately hastened the Lehman collapse, the Slog finds itself vindicated three years on by a successful regulator action against JPM, and contemporary documentation.
“And then when you have the suckers by the balls, you squeeze just like this”
Around the time of the Lehman disaster, a senior insider at the firm relayed to me what seemed an astonishing allegation: that in the weeks prior to the eventual collapse, JP Morgan deliberately withheld huge monies owed to Lehman in order to make the bankruptcy a certainty from which they could benefit. I relayed this story to another contact the following year, and he not only corroborated the charge, he also said he was sure Barclays had done the same. The now disgraced Barclays CEO Bob Diamond took over Lehman in a fire sale only weeks later (using taxpayers’ money as a bridging loan to do it) and rapidly built up a commanding position for the division he then headed up, Barcap – the investment arm of the bank.
Now, more than three years later, regulators have penalised JPMorgan for actions tied to Lehman’s demise. The bank settled the Lehman matter and agreed to pay a fine of approximately $20 million. The action took place because of Morgan’s ‘questionable treatment of [Lehman] customer money’: regulators accused JPMorgan of withholding Lehman customer funds for nearly two weeks. So it had been true after all.
Jamie Dimon’s Morgan Chase dodged and dived on this one for three years in an attempt to smooth over the tracks.
When you see 315 tons of gold was purchased by China in the first five months of the year, that’s just the tip of the iceberg. That 315 ton figure that was recently reported is patently false. That’s just what they can’t hide. The actual amount of gold China has accumulated is many times that 315 ton figure.
The buying is relentless. It’s every single fix, every single day. The Chinese are eventually planning to have gold back their new currency, which is going to replace the dollar as the reserve currency.”
The London Trader also added: “It’s not just Chinese demand impacting the physical markets. It’s the Middle-Eastern countries and Russia and so on. Investment demand for silver is also picking up at these levels. Demand is coming from the Middle-East, and India has also become a bigger buyer of silver.I would also add that you see a great deal of negative press regarding gold. Many are saying, ‘Look at 2008, they are going to sell gold along with everything else and it’s going to crash.’ What people don’t understand is gold is on its way back into the financial system. Source/full story - KWN
First we saw the US dig out and focus on 4 year old LIBOR manipulation stories centred around the cesspit that goes by the name of Barclays Bank that looks set to devastate all of UK's biggest banks, with the UK tax payer ultimately footing the bailout bill. I have covered this story at length that illustrate that everyone knew about LIBOR manipulation but now pretend that they only found out relatively recently - more here - RBS Chaos and Barclays Libor Cesspit Prompts Slow Motion Run on British Banks
And this week we have seen more convenient revelations out of the US dating back to 2007 that HSBC, Britain's biggest bank that forces ordinary citizens to jump through hoops to transfer small amounts of currency abroad has been engaged in systematic money laundering for the Mexican drug cartels to the tune $7 billion with potentially far worse across the world as HSBC affiliates apparently did business with rogue nations and terror organisations.
The truth is that BOTH stories could equally apply to major U.S. Banks but U.S. politicians are choosing not to investigate / hold them to account.