Finally, after years of massive manipulation of the silver market, fiat-currency escape artists may get their day in court, so to speak.
Probes into JPMorgan�s (NYSE: JPM) derivatives book are expected to reveal a well-orchestrated conspiracy to suppress the naturally fluctuating market value of silver bullion cleared through two of the world�s largest exchanges. Since JPMorgan-Chase owns shares of the US Federal Reserve, the outcome is expected to draw keen attention from bullion dealers, investors, �real money� proponents and anyone who understands the gravity of this case.
Civil and criminal investigations are underway by the Commodities Futures Trade Commission (CFTC) and Department of Justice Antitrust Division, respectively, said the New York Post. The investigation is expected to include review of all trades made by the bank in the physical silver market of the London Bullion Market Association (LMBA) and in the futures derivatives market of the New York Mercantile Exchange (Nymex), especially those trades made during the final three months of 2009 when the silver manipulation cabal kingpin sold $6.7 billion, or 220 million ounces of silver, into the open market at strategic times and in quantities representing more than four months of yearly silver production, according to the Office of Comptroller of the Currency.
The scheme to manipulate the price of silver (and gold) is estimated to have shaved more than approximately $5 trillion of wealth from participants of the bullion market, possibly placing JPMorgan as the number one financial criminal enterprise of all-time.
The monetary metals market serves an important purpose, not unlike a human nervous system. Placing our hands on a burning stove induces a strong response to move our hands from the source of pain, preventing the destruction of our hands. So goes the metals market. A soaring gold and silver price rings an alarm throughout the financial system of impending doom, warning all that something is very wrong and needs fixing right away.
It�s one thing to know the alarm should have gone off years ago on the US Dollar debauching operation; it�s another to be forced by gunpoint or threat of prison to actually store the phony currency as a form of durable value in exchange for labor past performed. People in the know of the debt pyramid scheme should have a way of saying �No mas� to the crooked system by walking away from it. A man won�t play fair if the system compels him to do so, and the whole system rots eventually from its immoral construct.
“Lenin is said to have declared that the best way to destroy the Capitalistic System was to debauch the currency. . . Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million can diagnose.”
–John Maynard Keynes, The Economic Consequences of the Peace, 1920
After reviewing the endless work compiled and documented evidence of manipulation in the silver and gold market by Gold Anti-trust Action Committee (GATA), JPMorgan is guilty, as in O.J. Simpson guilty. This bank has been a parasite on American freedom for more than 100 years, with many instances of crooked play in the marketplace riddled throughout its century-long crime spree.
“Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.”
George Washington, in letter to J. Bowen, Rhode Island, Jan. 9, 1787
The US Constitution only allows the use of gold and silver coin tender to settle payments of debts. Washington, like so many others, continuously warned us of the biggest and insidious threat to the Republic. It appears we have to learn this lesson the hard way, again.
�With the exception only of the period of the gold standard, practically all governments of history have used their exclusive power to issue money to defraud and plunder the people.�
Friedrich A. Hayek (1899-1992) Austrian Economist, Author and 1974 Nobel Prize-Winner for Economics
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