It’s always been a matter of trust, hasn’t it? So it’s none to comforting to realize that once again the powerful have reverted to using their favorite phrase ‘trust me’ (which translates directly into ‘fuck you!’)
Do you have to ‘trust’ the stranger next door? He’s probably as scared of you as you are of him, pretty much ‘even Steven.’ What about that really seedy looking fellow, the one with the shifty eyes who can’t look you in the eye…the guy who minds your money, what’s his face?
You KNOW you can’t trust him but what choice do you have? Besides, it’s not the one who runs the local branch you have to worry about, they’re only following orders from the criminals at corporate…
Sidebar: I was having a back and forth with one of my siblings about a former husband of hers that she put through law school…(yeah, it’s pretty sad, as well as being ‘classic’; but that’s not what we were talking about.)
Anyway, he flunked the local bar but passed in the neighboring state, so he practices there (we think/speculate.) He was interested in ‘criminal law’ (having formerly been in business himself.)
Anyway, there are no shortage of criminals but there is a serious dearth of ‘criminals with money’ (more commonly known as ‘businessmen’.) So if this lawyerly, former brother-in-law is indeed practicing law, he is either a public defender or he’s a prosecutor because there isn’t much else going on in the lightly populated target of ‘Project: Free State’.
(Um, google ‘project free state’ if you want your toe hairs curled!)
Where were we? Oh yeah, trust.
The most important institutions in human society are all ‘trust based’. We ‘trust’ that the courts will treat us fairly…we also trust that the courts will punish criminals, preferably before those criminals dismantle our economy…(oops, too late!)
Then, naturally, we need to determine if the failure to prosecute in a timely fashion is due to ‘incompetence’ or if this isn’t just more ‘criminal collusion’…see what happens when ‘trust’ breaks down?
Worse good citizen, we are headed straight for the biggest, er, ‘betrayal’ of all, the sudden ‘re-valuation’ of our currency. First you will be ‘forced’ to trade 10 for one…then prices will rise by a factor of ten! (Talk about ‘double-fucked!’)
You can see who the ‘target’ is in that deal…the poor bastards who have lived their whole lives, paycheck to paycheck!
Naturally, tonight’s offering is not specifically demonstrative of this ‘irrevocable breakdown’ of trust in our institutions, but moreso another example of the extremely misguided attempt to shred the already fragile bonds that still exist.
Left unsaid is the incredible, er, ‘blowback’ this failure to value the public trust will usher in.
Are we talking the return of ‘public executions’ here?
[Tonight’s offering purloined from: Jesse’s Crossroads Café]
NY Post: Trader Blows Whistle On Gold and Silver Price Manipulation
"Every society gets the kind of criminal it deserves. What is equally true is that every community gets the kind of law enforcement it insists on." Robert Kennedy
The CFTC hearing in Washington was about safeguards against, and limits on, naked short selling at the COMEX. The LBMA in London is a 'cash market' and while short selling is accepted, large leverage and blatant naked short selling is not. The crux of the scandal is that the Banks and hedge funds have been selling what they do not have in order to manipulate the price and cheat investors, in this market as they have been shown repeatedly to have done in other markets. [Um, this talk of ‘cheating’ is a ‘theme’ I have seen repeated across the blogosphere today. Talk about ‘critical mass’!]
The story gets sticky in the States because, as disclosed in the motions in a New Orleans trial, the players filed a motion claiming immunity because they were acting in partnership with the Treasury and the Federal Reserve, and other central banks who were not within the Court's jurisdiction. [Wait a minute, aren’t these the same people in charge of policing this sort of stuff?]
Watch this story unfold, and then make up your own minds. But be prepared for smears, diversions, misconceptions, and false denials. The accused parties will consistently try to ignore this, and change the subject. The attempts to pressure the media to ignore this altogether are a 'tell' if there ever was one. [Makes you wonder if this article represents a ‘job opening’ at the NY Post come Monday?]
I am shocked at the extent to which the Banks influence and control the American media. This was testimony at a public hearing, and it has been largely squashed. Judging by history, this is going to get ugly. [Thanks for that Jesse, regular readers will appreciate the chuckle you just provided them because one of the ‘central themes’ on the pages of this blog is ‘The corporate press lies like a rug…every day, all day. No exceptions! Loyal readers come here to get a ‘less twisted’ version of the day’s events…as bizarre as that may seem.]
Thanks to the NY Post for breaking ranks with the mainstream media. Despite some significant behind the scenes pressure, the Post is actually publishing some words that the Banks do not wish the American people to hear. And many Americans to not wish to hear it, because it shakes their faith in the system, and threatens them with the unknown. And too many, including economists and even bloggers, are only too willing to 'go along to get along' and be invited to the posh gatherings of the famous, and receive some sinecure from the Banks. [Yes, it is surprising how many mainstream bloggers are more concerned with their ‘professional reputations’ than they are with ‘the truth’.]
I do not know if this is true or not, or what the truth may be. But I do have a strong passion for bringing the light of day to shine on this, and for these markets to be much more transparent, as a reform, to prevent frauds which we do know have occurred and most likely are still occurring. For me the light of day is not smearing the messenger and making their life dangerously miserable, but that is what too often passes for journalism in the US today, as is seen in the case of other whistleblowers, most famously in the Plame affair. [Well and nobly said! Me, I can point to this crap because I don’t have a ‘professional reputation’ to protect, if you think I’m a crack pot, oh well. None of you come here for ‘investment advice’…and I’d be the last person to provide it.]
Naked short selling in size is a cancer in the financial markets. And the way in which the Banks are obstinately fighting against any and all reforms that attempt to limit naked short selling shows the objective observer that they are firmly committed to a status quo that is most likely fraudulent, designed to distort the markets and the economy. Let's be clear about this: naked short selling in size is not a trading strategy, it is a means to a fraud. [And you can trust Jesse on this because he is a trader!]
This may be the Madoff ponzi scheme writ large, the heart of the darkness in the financial fraud that is the US financial system. The crowning achievement of the financial engineers at the Fed, who have built a Ponzi economy and an empire of fraud.
There, good citizen, are words you don’t ever want to hear in unison, the US financial system and Madoff Ponzi scheme, but there it is.
How big a step is it until the lack of trust becomes so widespread that employees demand to be paid in gold and merchants start refusing personal checks and start demanding credit cards (because those damn credit card collection agencies know how to get results!)
Then, as I mention above, we come to the ultimate ‘fuck-fuck’, now you can’t trust the cash! Your ‘dollar’ is no longer a dollar but some fraction thereof (but your expected to work just as hard for it!) For some bizarre reason your employer is not ‘held accountable’ for the shrinkage of your paycheck, it turns into YOUR problem!
Understand, your employer protects themselves from decreases in the value of money…and it is their, er, unwillingness to share this protection with you that provides them with the increases in ‘productivity’ that the capitalist news whores are always crowing about!
Did I mention the likely return of ‘public executions’?
How else will the Elites show they are ‘serious’ about ‘reform?’
I’ll part on that rather disturbing mental image…
Thanks for letting me inside your head,
Gegner
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