It’s been over five years since the collapse of iconic Wall Street firms such as Bear Stearns and Lehman Brothers; the insolvency and bailout of AIG and Citigroup; the receivership of Fannie Mae and Freddie Mac; the shotgun marriage of Bank of America and Merrill Lynch. After a 5-year delay, the Federal Reserve has released the full transcripts of its meetings in 2007 and 2008 – the two key years of the crisis. But for unexplained reasons, the Fed Chairman, Ben Bernanke continues to redact 84 meetings from his appointment calendar that occurred between January 1, 2007 and the pivotal collapse of Bear Stearns on the weekend of March 15-16, 2008.
At first blush, one might think that Bernanke is attempting to protect the image of the Chairman of the Federal Reserve Board of Governors as independent of any political influence or business lobbying. But the mystery of these redactions is deepened by the fact that Bernanke has no problem listing meetings with President Obama, specific members of Congress, representatives of the Bank of England, every major CEO of a Wall Street firm, titans of industry like the heads of Ford Motor, IBM, and British Petroleum, quasi lobbyists like the U.S. Chamber of Commerce. Even the Reverend Jesse Jackson of RainbowPUSH Coalition is listed as meeting with Bernanke.
This is an excellent video. Well worth watching ~G
Newsletter writer Dr. Jim Willie thinks the Ukraine crisis is an enormous struggle for financial power between East and West. Dr. Willie contends, “I believe what we got with Ukraine is an absolutely desperate situation where the U.S. government realizes we have to stop Ukraine from becoming a central transit point for energy pipelines in the fast developing Eurasian Trade Zone. They need to stop the Eurasian Trade Zone because the United States and England are largely going to be excluded.
“If you look behind the curtain to see what is really going on, I believe this is the third attack on Russia’s Gazprom. It is a giant monopoly that Russia controls for natural gas. The first attack was veiled and it was Cyprus. Gazprom bank was gigantic and it was in Cyprus. . . . Furthermore, Russia was using Cyprus as a clearing house for buying gold bullion. . . .
The second attack against Gazprom was Syria. Iran pipelines were to be connected with Syrian ports. . . . There is a war in the way. That’s what the U.S. does. There is a war in the way. Now, we have the third attack against Russia Gazprom. The U.S. and Europe actually believe if they control the gas pipeline valves, they can control the flow on the Western corner (of Ukraine) that feeds Romania, Poland and Hungary. They actually believe if they control the valves, they can control the flow. What if the flow is cut off?” Dr. Willie, who has an earned PhD in statistics, thinks the manufactured Ukraine crisis is an act of desperation by the U.S. Dr. Willie explains, “Have you ever know someone truly desperate, who has no options, that did stupid things? That’s what we are seeing now.”
We had an ice-storm in the Carolinas that downed trees and knocked out transformers. We were without power for 4 days. Thankfully, we’re now back online and updating the blog.
Thanks for your patience.
I regularly hear how important it is to hold silver and gold and how dangerous the central banks and their banksters (a combination of bankers and gangsters) really are. I’m sympathetic, of course, since I don’t like central banks and I do like silver and gold.
But these folks have a problem: Their plans never seem to bear any fruit. Mostly, they are waiting for the banksters to lose control, for the financial system to fall down, and for their silver and gold to save them from an apocalypse.
But it has been a lot of years now, and the banksters seem to have no concern about precious metals in the hands of average folks. In short, they don’t fear your silver and gold at all, and I think it’s important to examine why.
The Obvious Reasons
There are several obvious reasons why the banksters don’t fear metals in private hands, and then there’s a much bigger reason. Let’s start with the easy ones:
- The banksters already hold most the world’s silver and gold and control its pricing. The ‘official’ price of gold is set every day by a group of bankers in London.
- They lease it to each other and their friends.
- The largest bankers more or less control the gold futures markets. At last count, the big commodities market had 102 times more gold under contract than they had physical gold. Since this “paper gold” passes for real gold, manipulations can abound.
- Governments are very good at stealing gold from a populace. The US government did precisely that in 1933, and there’s no reason to think they wouldn’t try again when they want. Taking money is what governments do.
The Big Reason
Jeff Nielson joins us to talk about China currency “manipulation”, the One Bank, U.S. unemployment, inflation, the situation in the Ukraine and the international “House of Cards”. Thanks for tuning in.
Retirement mistake no. 1: Overconfidence in your investing skills
If ask anyone who has done investing in the stock market over the years. The answers you will get will most likely range from 8 percent to 20 percent (or more!). The average was about 10%.
Here’s the reality. Every year, Dalbar Inc., a respected independent market research firm, publishes a study titled “Quantitative Analysis of Investor Behavior.” The study measures the actual performance of stock and bond investors and compares that performance to various benchmarks.
The latest study found that, while the S&P 500 returned 8.35 percent over a 20-year period ending in 2008, the average equity investor earned a pathetic 1.87 percent, which was less than the inflation rate of 2.89 percent. Bond investors fared worse. They earned returns of 0.77 percent compared to 7.43 percent for the index.
If you are relying on your investing skill to fund your retirement, you should be worried. Very worried!
Retirement mistake no. 2: Ignoring immediate annuities and Equity Index with income annuities
Top 10 Quotes That Reveal Their Crimes
The alternate financial media has been abuzz of late with bizarre stories of the alleged suicides of prominent members of world banking and finance. Over recent weeks, between eight and twelve (some say as many as twenty) successful traders and managers involved with FOREX trading and other derivative currency speculation, have conveniently “decided” to throw themselves from the roof tops of a variety of JP Morgan Chase banks in London, Hong Kong, and New York. Another top banking official, William Broeksmit, former executive at Deutsche Bank, was found hanged in his London home.
And others with strong connections to investment banking and the Federal Reserve itself have likewise met unusual deaths. Michael Dueker, former vice president of the St. Louis branch of the Federal Reserve, was found at the bottom of a fifty foot embankment below where he had just parked his car in Tacoma, Washington. The cause of death is still undetermined. The strangest of these deaths was Richard Talley, a former investment banker with Drexel Burnham Lambert who was alleged to have shot himself with a nail gun at least ten times in his Centennial, Colorado, home.
The keen observer will note that a great number of these deaths have occurred in tandem with the extensive multinational regulatory agency investigations of egregious fraud, price fixing, and “front run” trading in the FOREX markets and in the LIBOR index. These markets are gigantic and it is hard for the novice to comprehend the magnitude of money that is involved in daily transactions for both of these. The weekly volume on the FOREX market alone is excess of $20 trillion.
Economist John Williams says if Russia sells its U.S. dollar holdings, it could trigger hyperinflation. Could it collapse the financial system? Williams contends, “Yes, it certainly has a potential to do that. Looking outside the United States, there is something over $16 trillion in cash, or near cash. That’s about the same size as our GDP. . . Nobody has wanted to hold the dollar for some time. The dollar, fundamentally, is weak. It couldn’t be weaker.”
“All the major factors are against it. It’s just a matter of what would trigger the massive selling. Nobody wants to hold it. The Russians start selling, and you have China indicating a general alliance here in terms of what’s transpiring. If the rest of the world believes this is what’s going to happen, people who have been wanting to get out of the dollar for some time very easily could front-run the Russians. The scare is on. People will try to get out of it as rapidly as they can.
Stanley Fischer, Former Vice Chairman of Citigroup, Nominated to Serve as Vice Chairman of the Federal Reserve Board of Governors
Last evening, the U.S. Senate Banking Committee made the unexpected announcement that it was postponing the confirmation hearing of Stanley Fischer to serve as Vice Chairman of the Federal Reserve Board of Governors. Two other Fed nominees were to be vetted today. The hearing had been scheduled for 10 a.m. this morning in the Dirksen Senate Office Building. No reason was given for the postponement.
There are surely some veteran lawyers at the Securities and Exchange Commission (SEC) hoping the nomination of Fischer has been scuttled. The thought that Stanley Fischer, a former Vice Chairman of the serially corrupt Citigroup, could become Vice Chairman of the Federal Reserve, a regulator of mega banks like Citigroup, is not a source of comfort. Fischer was nominated for the post by President Obama, whose devotion to failing up on Wall Street regularly sets new heights.
As if as on cue, news broke just yesterday that Federal prosecutors have issued grand jury subpoenas to Citigroup in a money-laundering investigation, a topic with which the bank is intimately familiar.
During Fischer’s stint at Citigroup, from February 2002 through April 2005, he “amassed a personal fortune of between $14.6 million and $56.3 million” according to Bloomberg News. During that same period, Citigroup was repeatedly charged with fraud and embarked on its own exotic financial shenanigans that would end up collapsing the firm in 2008.