Tag Archives: Commodity Futures Trading Commission

Pam Martens ~ Bitcoins, Tulips, And The Madness Of Crowds

WallStreetOnParade  February 26 2014

flower_tulipsComing off the greatest financial collapse in modern history because of unregulated derivatives backed by dodgy collateral, it is more than a little disconcerting that we are now forced to use our digital ink to explain the pitfalls of investing in a digital currency backed by air.

There seems to be a mass hypnosis at work. For example, last evening, at 6:47 p.m., the wire service Reuters explained Bitcoin to its readers as follows:

“Unlike traditional currencies, where a central bank decides how much money to print based on goals like controlling inflation, no central authority governs the supply of bitcoins. Like other commodities and currencies, its value depends on people’s confidence in it.”

The last sentence of the Reuters statement was likely penned by someone who has never traded commodities or registered with the Commodity Futures Trading Commission. Bitcoin is decidedly not like other traded commodities. Corn, sugar, gasoline are tangible things. You can readily check that their trading value is hinged to reality by checking their price in the grocery store each day or, in the case of gasoline, at the pump. A Bitcoin, on the other hand, has no tangible commodity backing it. Its value is whatever some self-created website says it is.

According to news agency AFP, just before the MtGox Bitcoin website shuttered its operations yesterday, a Bitcoin was trading for $130. On other Bitcoin websites it was trading for around $500.

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Gerald Celente ~ “Maniacs In Charge” [Audio]

BeforeItsNews  February 19 2014

Trends forecaster Gerald Celente of Trends Journal speaks with Die MetallWoche and throws out some real zingers as he discusses the historical comparisons of today’s world to the World War I era and declares that “destruction” is being put in place by “maniacs in charge.”

Jeff Nielson ~ Economic Armageddon & The Most Undervalued Assets On Earth [Audio]

SGTbull07  October 6 2013

Jeff Nielson from Bullion Bulls Canada join us for an in-depth precious metals and monetary Ponzi update. We discuss the absurdity of the CFTC declaration that there is no provable manipulation in the silver market, we discuss the near total control of THE ONE BANK which controls nearly 40% of the worldwide economy.

We discuss the accelerating collapse of the Church of Scientology which is an excellent allegory for the near total collapse of confidence in the United States government and the monetary Ponzi scheme known as Wall Street and the Dollar. Jeff’s site: http://bullionbullscanada.com/

Bix Weir ~ Deadline Arrives Friday For Silver Investigation

RoadtoRoota  August 26 2013

Deadline Approaches for Silver!

It is clear that we have come to the Tipping Point in the fight against the blatant manipulation of the Price of silver as quoted on the COMEX and LBMA. The paper price of silver has been destroyed, the large short position held by JP Morgan and the banking cabal has been covered, the physical market is on fire and has broken away from the paper market and people around the world recognize that the silver market is 100% rigged.

So where do we go from here?

I believe that a final decision is being made at the highest levels of the US Government. Either they will allow the silver market to continue to be rigged at all levels for as long as possible (which they have been doing) OR they put a stop to the manipulation and let the free market in silver sort itself out in a chaotic implosion of the entire monetary system.

In the first instance the “Rule of Law” in the United States will be once and for all destroyed never to return to our Nation. It will be the destroyer of our Freedom and the End of everything we stand for. Ultimately, it will lead to a revolution by “We the People” as no corrupt nation can survive on a foundation of lies.

For the Good Guys…their Road to Roota Plan will have failed.

In the second instance the free market value of silver will shoot to the moon setting off a chain reaction in the derivatives markets that no financial institution will recover from. Hundreds of Trillions in derivative counter-party risk will come to bear and be defaulted upon. The banking system will be instantly destroyed causing the entire Local, State, Federal and Global Economies to freeze in their tracks instantly without access to any electronic monetary instruments (assets or debt). Then we will start over.

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Michael Snyder ~ Billionaire Issues Warning About Interest Rate Derivatives

EconomicCollapse August 6 2013

Will rapidly rising interest rates rip through the U.S. financial system like a giant lawnmower blade?  Yes, the U.S. economy survived much higher interest rates in the past, but at that time there were not hundreds of trillions of dollars worth of interest rate derivatives hanging over our financial system like a Sword of Damocles.  This is something that I have been talking about for quite some time, and now a Mexican billionaire has come forward with a similar warning.  Hugo Salinas Price was the founder of the Elektra retail chain down in Mexico, and he is extremely concerned that rising interest rates could burst the derivatives bubble and cause “massive bankruptcies around the globe”.  Of course there are a whole lot of people out there that would be quite glad to see the “too big to fail” banks go bankrupt, but the truth is that if they go down our entire economy will go down with them.  Our situation is similar to a patient with a very advanced stage of cancer.  You can try to kill the cancer with drugs, but you will almost certainly kill the patient at the same time.  Well, that is essentially what our relationship with the big banks is like.  Our entire economic system is based on credit, and just like we saw back in 2008, if the big banks start failing credit freezes up and suddenly nobody can get any money for anything.  When the next great credit crunch comes, every important number in our economy will rapidly start getting much worse.

The big banks are going to play a starring role in the next financial crash just like they did in the last one.  Only this next crash may be quite a bit worse.  Just check out what billionaire Hugo Salinas Price told King World News recently…

I think we are going to see a series of bankruptcies. I think the rise in interest rates is the fatal sign which is going to ignite a derivatives crisis. This is going to bring down the derivatives system (and the financial system).

There are (over) one quadrillion dollars of derivatives and most of them are related to interest rates. The spiking of interest rates in the United States may set that off. What is going to happen in the world is eventually we are going to come to a moment where there is going to be massive bankruptcies around the globe.

What is going to be left after the dust settles is gold, and some people are going to have it and some people are not. Then the problem is going to be to hold on to what you’ve got because it’s not going to be a very pleasant world.

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Pam Martens ~ MF Global and Wall Street: Whose Job Is It To Take the Keys Away

Wall Street On Parade June 28 2013

Jon Corzine Taking Oath Before a House Hearing on the Failure of MF Global

The day after the U.S. House of Representatives’ Financial Services Committee held a hearing on why their seminal financial reform legislation, Dodd-Frank, is a bureaucratic boondoggle that will not prevent another taxpayer bailout of Wall Street in the event of a systemic collapse, we learn just how vulnerable the system is to powerful men allowed to play with other people’s money.

Yesterday, the Commodity Futures Trading Commission (CFTC) brought charges in Federal Court against MF Global, its former CEO, Jon Corzine, and its former Assistant Treasurer, Edith O’Brien. Corzine is a former U.S. Senator and Governor of New Jersey. The two are charged with the unlawful allocation of customer money at the commodities trading firm. The company has agreed to settle the charges against the firm for $100 million. The claims remain outstanding against the individuals.

MFGlobal collapsed in October 2011. Corzine had directed the firm to use its capital to make large bets on European sovereign debt. When the firm collapsed, over $1 billion of client funds were missing.

Trading firms routinely record phone conversations to be able to reconstruct any disputed trades. In one such conversation revealed in the CFTC’s lawsuit against Corzine and O’Brien, the Global Treasurer states: “We have to tell Jon that enough is enough. We need to take the keys away from him.”

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SGT Report Unbound ~ 9/11 Bond Fraud, COT & CFTC Fraud, Gold & Silver Fraud [Audio]

SGTbull07 June 5 2013

Today we talk with Rob Kirby about the false narratives coming from the U.S. government and fascist mockingbird media. How can average Americans break their conditioning when they can barely tie their shoes or tell you the name of the Governor of their own state? 9/11 Bond fraud, the questionable COT report, the CFTC fraud and the endless gold and silver fraud by way of paper and leasing – we cover it all. Thanks for listening. ~ Rob’s website: http://www.kirbyanalytics.com/

Dave Hodges ~ The Government Theft Of Retirement Accounts Has Begun

TheCommonSenseShow May 22 2013

Many were roundly criticized for daring to say that the Cyprus thefts could visit our shores.  If Treasury Secretary Jack Lew gets his way, Cyprus will look like a walk in the park compared to what’s coming because Cyprus was a beta test for the massive theft of private wealth which is on the horizon.

In fact, I would say to my fellow countrymen who don’t think the government would ever perpetrate a fraud against the American people in which the government would oversee the outright theft of personal assets of American citizens, you might want to jog your memory and look about to a period of time going back four to five years in this country.

Short Term Memory Loss

I, too, was roundly criticized three months ago when I said the Cyprus scenario is coming here. I was told there would be a revolution if this happened and the government would be to afraid to try such a thing. I marvel at people who hold to such naive beliefs. Listening to these people is like listening to a country song played backwards. You know the wife does not leave, the truck still runs and the guy stops drinking. Maybe it is all the fluoride in the water that is causing such widespread ignorance and apathy.

First of all, our government is not the enemy. This is not the government we are dealing with. We are battling organized crime in the form of corporations like Goldman Sachs who have hijacked our government. They are lining up for the last great garage sale before they collapse the economy and roll out martial law. There are forces lining up to steal everything that you and I own. It has already begun but this country is so dumbed down, we do not see that it has already started.

The Greatest Wealth Transfer In History

Hank Paulson Architect of the Bailouts

I am still haunted by the image of former head of the Goldman Sachs crime syndicate and former Treasury Secretary, Hank Paulson, telling a closed session of Congress that if they did not grant Wall Street “bailouts” there will be martial law in the streets as a result of the economy collapsing. Ask yourself, if almost five years later and three bailouts later, are Americans better off having sacrificed the bailout money in lieu of maintaining roads, improving schools as well as running the national debt through the ceiling and destroying the financial heritage of our children?

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Matt Taibbi ~ Deja Vu On The Hill: Wall Street Lobbyists Roll Back Finance Reform, Again

RollingStone May 21 2013

It’s becoming an annual tradition: Spring rolls around, and while nobody is looking, Wall Street quietly lays siege to Washington and reaches a hand out to yank the last remaining teeth out of the government’s financial regulatory head.

In the last two weeks, we’ve seen two major developments here. There was a wave of deregulatory bills that snuck through the House with surprisingly bipartisan support, and a series of regulatory decisions by the Commodity Futures Trading Commission that will seriously weaken the already-weak Dodd-Frank reform legislation, particularly with regard to derivatives trades.

If a story about a wave of bills designed to prevent the meager derivatives reforms passed in Dodd-Frank from being enacted sounds familiar, that’s because it is. I wrote almost exactly the same story a year ago, in the middle of May, 2012, when a herd of Wall Street-friendly congresshumans teamed up in the House Financial Services Committee to push through a wave of nine ambitious bills targeting derivatives reform. This is from last spring:

The nine bills being contemplated by Congress take a variety of approaches to gutting Dodd-Frank. Two bills, H.R. 1840 and H.R. 2308, are essentially stalling tactics, requiring regulators to undertake more of those sweeping cost-benefit analy­ses that result in lengthy delays. Another bill, H.R. 3283, is more substantive: Sponsored by Connecticut Democrat and hedge-fund industry BFF Jim Himes, it exempts foreign affiliates of U.S. swaps dealers from all Dodd-Frank oversight.

The rule, if implemented, would make the next AIG possible, given that AIG was undone by half a trillion dollars in derivative bets produced by such a foreign affiliate – its London-based financial products outfit, AIGFP. If passed, says Rep. Brad Miller, a Democrat from North Carolina, H.R. 3283 would leave a “massive, gaping hole” in Dodd-Frank. “It would be very easy to move those trades to whatever the most indulgent country would be,” Miller explains.

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