It's just the same old, same old, business as usual in America. The Fed creates money out of thin air, uses it to keep the economy from teetering over the edge of destruction as ludicrous salaries and bonuses are collected by Wall Street Illuminists and as US consumers are deceptively informed that we have green shoots sprouting up and that recovery is just around the corner. So go out and borrow, borrow, borrow, and spend, spend, spend, so US transnational conglomerates can continue to generate their off-shore, untaxed profits to pay Illuminist salaries and bonuses for their henchmen in Corporate America. Then you have the President's Working Group on Financial Markets (aka the Plunge Protection Team, aka the PPT for short), rigging markets around the world 24/7 with the money created out of thin air by the Fed via the repo pool.
Meanwhile, the Illuminist banks that have borrowed money created out of thin air from the Fed through its myriad of borrowing facilities at little or no interest use some of their money to join the speculation party with all the inside information that has been provided to them courtesy of the PPT as the public gets taken to the cleaners because that don't have any illegal, front-running algorithms designed by their government like the players on Wall Street, who have few if any losing days in their proprietary trading offices. And lest we forget that whatever money is not used by the Illuminist banks that they have borrowed from the Fed at near zero interest to speculate with is parked with the Fed at 2.5% risk-free, a gift of the US taxpayer because we just love to get hosed by our criminal syndicates aka "too-big-to-fail" Illuminist banks. And never mind the fact that there are no longer enough idiots left in the world to buy our Treasury paper anymore, because, well, if you don't have enough buyers, then you just make them up out of thin air, like our Federal Reserve Notes.
But first, we ignore things like monthly hundred billion plus mathematical discrepancies between the amount of the government's deficits and the amount of treasury bonds being sold. Then we give the proceeds from the bogus excess treasury sales to foreign countries, foreign central banks and sovereign wealth funds as well as Cayman Island hedge funds so they can do what with it? Why, so they can buy US treasury paper and agency paper, among other things. Yep, we set up the straw men, fund them with counterfeit money illegally created out of thin air beyond what is needed to fund the ever-increasing deficit being created by the drunken sailors running the US government, and we then magically create categories of new mega-buyers in our financial reports to show everyone how our treasury paper is just as "beloved" as in the old days. Why, even the totally bankrupt UK has magically created $180 billion for the express purpose of buying up those treasuries to keep the whole rip-off party going. We'll let our subscribers decide where the totally bankrupt UK came up with that amount of money for US treasury paper of all things. Ah, life in the US of A. You just can't make stuff like this up!
Well, as we predicted, the Fed has been talking about suspending the payment of interest on bank reserves parked at the Fed to force banks to lend. Remember, these reserves were lent by the Fed to its member Illuminist banks at near zero interest rates ostensibly to keep them afloat, but also to help fund speculative investments based on no-lose inside information from the PPT, among numerous other reasons. These reserves now constitute over a trillion dollars and can be run through a fractional reserve banking system at anywhere from ten to one, up to forty to one, leverage. Hence, even using the traditional ten to one fractional banking leverage, you would only need $500 billion to produce the necessary 5 trillion of counterfeit money, that would be generated out of thin air through the banking system, to keep the country afloat through the next Presidential election. This massive reserve was planned in advance to keep the system going so they could milk it a while longer through the end of Obama's term of office after they blood-sucked the public for all the bailout money that the US taxpayers could tolerate without revolting. The remainder of this massive reserve will be used to buy the assets of failed banks and non-bank financial companies for pennies on the dollar, as the Fed, now with a financial monopoly over the entire financial system, complete with their own information-collecting Gestapo, destroys all the small fry in the next round of competition elimination which will make the bank failures so far look like a trifling matter. They will get the goods on all the small fry, force them into liquidation, and then let the big Illuminist legacy banks pick them over like a group of vultures. And if any of the small fry owe big money to any Illuminist legacy banks, they will be overvalued by the FDIC, and the US Treasury, via the Fed, will pay the Illuminist claimants based on the so-called "fair value," which in that case will be bogus mark-to-fantasy asset values, and then taxpayers will get taken to the cleaners when the overvalued assets are sold for their much smaller real value later on. That's right, its heads we win, tails you lose, the continual mantra of the Illuminati.
The manipulations of markets by the PPT around the world are now so blatant that only a total dolt could not see it. Witness the takedown of the gold and silver prices by JP Morgan Chase, Goldman Sachs, HSBC and/or Deutsche Bank just like clockwork every option expiration day. And heaven forbid that gold should exceed $1,200 per ounce, or silver $18.50 per ounce, lest the entire universe come to an end. Well, we have some news for the Illuminati. The universe of the would-be lords of the universe is going to come to an end, and much sooner than they think. They are well on their way to losing control of world financial systems.
We have to wonder when the class action lawsuits will kick in to get some justice for people burned by these arrogant manipulations against long side gold and silver option holders that have occurred month after month, ad infinitum while regulators continue to look the other way, as instructed. Will these suits end up stifled and whitewashed like recent SEC suits against Illuminist firms like Goldman Sachs, Citigroup and Berkshire Hathaway, with fines that are a dinky percentage of the losses they have caused, or the money they have absconded with, with no jail time, ever? We wonder what must be going on in the minds of attorneys who are handling theses cases. We wonder if they know what they are up against. They probably do know, and shudder at the thought of trying to pursue these cases aggressively. Bad things can happen to those who oppose the Eastern Establishment, another name for the US branch of the Illuminati. They just shut up and do as they are told, or else. Instead of digging into their investigations, they occupy their time by watching porn. We suppose that burying your head in the sand is preferable to losing your job since finding an honest job is no longer possible with almost one in four working adults now out of work.
There may be a quick yellow fever hit in the near future, followed by a miraculous pre-election recovery rally to establish a new shot-term high for stocks to benefit the Jackasses in November. The purpose of such a hit, if it occurs, would be for the sole purpose of disrupting the precious metals markets during the beginning of their usual fall rally while simultaneously providing support for the dollar as idiots rush for treasuries in a panic. US Treasuries, however, are now losing their battle with gold for the status of being the ultimate safe-haven. Oil may also suffer to gain the "euro effect" in support of the dollar, since rich oil sheiks, who prefer to shop in Europe, have fewer dollars to spend when oil goes down, and thus fewer euros are purchased with those oil dollars. The dollar could have a brief rally to 84, as nothing goes straight down, before once again testing 74, which it will do in the not-to-distant future.
Once QE2's implementation becomes common knowledge, gold and silver are going to enter into another dimension, a much larger dimension, if you get our drift.
The elitists will then attempt to cover their precious metals shorts, and go long for the first time in decades. Oil will promptly skyrocket, sending the stock markets into a huge funk.
And think of all the volatility that all these events would bring to world financial markets, and the fabulous wealth that could be accumulated by anyone having insider information on when these events would be orchestrated to occur. However, as for the those of you who have not been anointed by the New World Order, only those who own gold, silver and their related assets will survive.
The U.S. Department of Veterans Affairs is writing about 10,000 beneficiaries of military and veterans’ life insurance policies to say that payments held in Prudential Financial Inc. accounts are safe and can be withdrawn at any time.
“We want to assure you that the life insurance benefit is secure and available to you,” said the letter, signed by Thomas Lastowka, director of a Philadelphia VA office that administers group life insurance programs for U.S. soldiers and veterans.
Bloomberg Markets magazine reported on July 28 that Newark, New Jersey-based Prudential offers to hold lump-sum payments for beneficiaries in the company’s coffers. The insurer pays interest on the accounts and makes money by investing the funds. The accounts provide checkbook-like access and aren’t federally insured.
Prudential, the second-largest U.S. life insurer, is the sole provider of life insurance for 6 million U.S. military personnel and veterans.
Since the story was published, the VA says it is examining life insurance practises. Members of Congress also are demanding action and filing legislation requiring greater disclosure about malpractices for handling military death-benefit payments. Prudential spokesman Bob DeFillippo has said the company is “working with the VA to address concerns.”
The VA’s letter, saying that survivors of insured soldiers “may be aware of recent news stories highlighting one beneficiary’s concerns,” told beneficiaries that money placed in what Prudential calls “Alliance Accounts” is protected by guaranty funds in each state. [Beneficiaries should not leave accounts opened at insurance companies, most invest in the stock market, and if the market goes down the insurance company has a problem. You are much better off having the funds in gold and silver related assets. Bob]
New Jersey's most impoverished city will close all three branches of its public library at year's end unless a rescue can be pulled off.
The library board president says the library system, which opened in 1904, is preparing to donate, sell or destroy its collections, including 187,000 books.
Camden's library system is not the only one having financial problems. Fourteen libraries in Queens cut weekend services earlier this year.
Paul LeClerc, president of the New York Public Library, said he started noticing a large increase in library attendance when the stock market went into its steep decline. And that attendance has continued to build. "We've got more people visiting us now than we've had in half a century," he said.
New York library customer Elle Byram said she's trying to avoid coffee shops where she'll end up spending money. She said the library "is spacious, it has free Internet access. You meet cool people, but it's not really supposed to be a social place."
(MarketWatch) -- China's banks could see as much as 20% of their loans from state-controlled firms go bad, a report said Sunday, even as the nation's banking regulator said non-performing loans were on the decline.
Recent stress tests conducted by the China Banking Regulatory Commission (CBRC) showed 20% of all outstanding loans to state-owned companies were "in trouble" as of the end of June, the Japanese business newspaper Nikkei reported, citing an unidentified CBRC official.