JP Morgan's Q2 earnings statement will be released tomorrow and it is
expected to report a $5 billion CIO trading loss, a loss larger than the
bank initially announced. Meanwhile, a press report revealed the New
York Fed made major changes to its examiners at JP Morgan in mid-2011.
The changes took place during a crucial time for policing risk-taking.
We have plenty of evidence of the failure of regulators. However, it
doesn't appear anyone is losing the appetite for fraud, so what is the
solution? We talk to Chris Whalen, senior managing director at Tangent
Capital Partners.
12 Jul 2012
Ponzi Overdose 'UK Screwed by Traitors Gordon Brown and the BBC' - Max and Stacy Keiser with Ian Fraser
GOLD PRICE MANIPULATION: Telegraph’s new enfant terrible spills the beans - The Slog
The London Daily Telegraph’s new
young City whistle-blower Thomas Pascoe has encouraged the longstanding
band of gold manipulation spotters by writing this piece today.
It is pretty much a vindication of what The Slog’s been saying for six
years: that gold sales, auditing, location, price, market size and
mining statistics are a load of old bollocks – a feast that moves in
mysterious ways to suit the Sovereign agenda of the hour.
My my my, how the global worms are wriggling out of the
multiply-kicked cans these days. Just to tot them up for those of us in
the Squeezed Middle:
2. Using QE to negate Bear Notes
3. Raising the cost of credit by manipulating Libor up
4. Indirectly lowering the rate on deposits by manipulating Libor down
5. Pauperising every 55+ investor via Zirp
6. Taxing the insured by passing on flood costs to the consumer
7. Artificially supporting the euro by ECB purchases of its own toytown money
8. Gratuitously reducing the maximum use of drawdown pensions for income
9. Doubling the national debt to bail out useless wazzocks without controlling their bonuses.
10. Slashing local services to help balance the Exchequer after those at 9 had finished emptying it.
Altogether, these criminal frauds have slashed my disposable income
by 70% since 2005.
OWS Week: Independence Day rallies & National Gathering Philadelphia
The price of gold has been manipulated. This is more scandalous than Libor
Thomas Pascoe: The new media and the 24-hour news cycle have a great deal to answer
for, not least encouraging a political class which would otherwise be
happily engaged expensing duck houses into the belief that it should
demonstrate perpetual action on our behalf – hence the endless stream of
badly drafted legislation from the corridors of Whitehall.
It does, however, reveal things that would otherwise be ignored. The issue of manipulation in the gold market which
I wrote about last week is a case in point. The ball of half-truths and
downright lies which have surrounded the issue for a long time is
beginning to unspool in an issue internet activists kept alive long
before it was acknowledged by the mainstream media.
People ask why the issue is important at a time of naked market
manipulation of the Libor rate. The answer is simple: the Libor
manipulation scandal can be seen as the thin end of the wedge in terms
of government market manipulation.
Although Libor manipulation affects the interest rates we pay on all
number of credit products, gold market manipulation is more serious
still.
The price of gold is traditionally a proxy for the value of money. A
soaring bullion price is indicative of a lack of faith in fiat currency.
'Settlers violence reflects Israeli brutality' - Ralph Schoenman, author, "Hidden History of Zionism"
Israeli settler violence against Palestinians in the occupied West Bank
and East al-Quds (Jerusalem) has increased sharply since 2009, says a
group of UN agencies and NGOs.
"Last year, the number of
settler attacks resulting in Palestinian casualties and property damage
increased by more than a third; since 2009 it increased by nearly 150
percent," said a July 11 joint statement issued by the UN High
Commissioner for Human Rights, the United Nations Children's Fund
(UNICEF), the Ecumenical Accompaniment Program in Palestine and Israel
(EAPPI), the Palestinian NGO Al-Haq and the Israeli NGOs Yesh Din and
B'Tselem.
How Many Checkpoints in One Morning?! Welcome to the Police State!
Westbound I-8 in Southern California (an East-West highway that NEVER intersects the international border). Source
How Your Bank Account Could Disappear - “rehypothecation.. there is no one in the world whom you can trust less with your money than a banker."
By Jeff Nielson: On the same morning we hear that ¼ of Wall Street executives think that fraud is a necessary part of “doing business” in the financial sector, we hear of a second “MF Global”.
The U.S.’s so-called regulators are now reporting that somewhere around
$220 million in customer funds is “missing” at a financial institution
known as PFGBest; once again closing the barn door after all the cows
have run off.
With at least one out of every four bankers at U.S. Big Banks (that’s how many admitted
to being crooks in the survey) thinking that stealing is part of their
job descriptions, it’s very important for people to realize how little
protection there now is between these thieves and your
bank accounts. Based on the writing of a number of other individuals
with more expertise in these markets, it is apparently an inherently
fraudulent banking process known as “rehypothecation”
which is allowing the mass-plundering of accounts at U.S. financial
institutions, with other Western financial regulatory authorities also
rubber-stamping this relatively new form of bankster crime.
U.S. forcibly injected Gitmo detainees with ‘mind altering drugs’
By Madison Ruppert: In a recently declassified Pentagon Inspector General report (embedded below) obtained originally by Truthout via Freedom of Information Act (FOIA) request, It was revealed that detainees at Guantanamo Bay were forced to take “mind altering drugs.”
Unfortunately, this is not the only horror story which has emerged
from the Guantanamo Bay military detention center. One of the more
disturbing cases involved the alleged suicide of three detainees which became highly questionable after a soldier came forward with testimony completely contradicting the Pentagon’s story.
However, this latest report, which was originally published on
September 23, 2009 and just obtained on June 28, 2012, portrays some
truly disturbing practices like making prisoners take psychoactive drugs
without even being told what they were given.
Only one drug was explicitly named in the report: Haldol, the actual name of which is Haloperidol. Haldol is an anti-psychotic drug originally put on the market in 1967 to treat schizophrenia, severe psychotic states and delirium.
Interestingly, it seems that the interrogators over at Guantanamo Bay
might have taken a page out of the Soviet “punitive psychiatry”
handbook in choosing to use this drug in their military detention
facility.
In fact, medical staff and Soviet dissidents have reported multiple
times that Haloperidol was used on detainees either as a punitive
measure or in an attempt to “break” the prisoners.
Anwar Al-awlaki: What the media and government won't show you + Would You Believe A US Teenager Who Grew Up In Denver Was Executed WITHOUT TRIAL With A Drone
Are Israeli Settlements Legal? Electronic Intifada’s Ali Abunimah vs. Commentary’s Jonathan Tobin
An Israeli government committee has affirmed the country’s
self-proclaimed right to build settlements throughout the occupied West
Bank and recommended the legalization of dozens of settler outposts that
have not received government authorization. The International Court of
Justice has already ruled that all of Israel’s West Bank settlements are
illegal, but Israel has said it would only consider dismantling
scattered outposts that it has not officially approved. The settlers
have used the outposts to seize even more Palestinian land than has
already been taken. Source