-- Posted Tuesday, 16 September 2008 | Digg
This Article | Source: GoldSeek.com
landscape, here’s an overview of what I’m
from Fictional Futures
In Bill Murphy’s
daily commentary at LeMetropolecafe.com, Friday September 12,
Murphy reported this account from one of his subscribers who
happens to be in the metals recovery
have to admit Bill I have seen a lot in my time but if this
information I am about to provide you doesn't prove once and
for all that these markets are being totally manipulated and
distorted. Then there will be nothing left to prove anymore
have been recycling for over 10 years now and I have been
focused in developing a service in the silver recovery
far it's been very successful and I had been preparing an
order for recovery just before they hit the silver market.
was sitting on 29 skids @ 28,000 lbs
of fiche which
equates to aprox. 385 lbs
of pure silver considering my
this grade of fiche was very high.
per 1000 grams of micro fiche.
It's around 4 dollars per
lb or 6000 ounces
I won't mention names but I was unable to setup a bullion
account with this company because they don't setup accounts
anymore so I can't hedge the market.
day you deliver. You get paid spot on the Comex.
I simply parked my product and waited. Now talk about a
squeeze play. Would you believe that this company called me
today [Friday] @ 10.50 silver and quoted me 16.00 per ounce
with room to negotiate??? “
account perfectly illustrates what we are witnessing, first
hand; as physical stocks become more and more scarce – the
Cartel is “beating the COMEX price with a stick” – making
would-be-buyers think twice before putting their money down
[or order in] for the real thing.
cripples all resource companies since they ALL contract to
have their off-take benchmarked against fraudulently derived
paper futures prices.
is why we currently give preference to ownership of physical
metal versus mining shares.
also provides a great backdrop for talking heads to say
“commodities are toast” – lessening demand for physical or
forcing liquidation through [cough] the etfs – GLD and
SLV. I distrust
the etfs on the basis that their alleged stocks of physical
are all under the custody and direct control of institutions
[the Cartel] long suspected / accused of price management of
the end, however, smart money the world over – has now cotton
on to this charade. I speak quite regularly with folks
around the world – there simply is NO PHYSICAL SILVER to
be had – virtually anywhere.
would like to share with you all an interaction I had with
GATA’s Bill Murphy approximately 3 years ago: I remember Murphy
explaining to me,
GATA is correct, physical metal was the Achilles Heel of the
Cartel. Regarding shortages – if the GATA thesis is
correct - they should categorically appear first in silver,
despite the blatant pummeling of the paper commodities complex
[futures], artificially lowering prices in the face of
shortages WILL NOT RESOLVE CURRENT PROBLEMS, and in
fact, will intensify them.
while these are trying times in the commodities space – they
should surprise no-one.
painful declines we are experiencing have been “linear”.
The advances, I would suggest, are going to be
this reality sinks in universally, it will not only discredit
the COMEX but all futures markets will be seen for what they
are – frauds – and highly inappropriate as honest price
futures markets are, collectively, the basis or underpinning
of the 1.25 quadrillion Derivatives Complex.
has been the unrelenting price management of strategic
commodities and distortion / falsification of economic
reporting which would expose the rigging that has brought on
the plethora of economic horrors which have led to the COMPLETE SYSTEMIC
FINANCIAL MELTDOWN we are now just beginning to
America Doing Deals
That Don’t Pass the Smell Test
extremely dubious of B of A’s involvement with ML, not to
mention Country Wide, given their dubious involvement in such
scams as BCCI [Bank of Crooks and
OF THE BANK OF CROOKS AND CRIMINALS
Millions of people throughout the world lost billions of
dollars, made possible by the coverup actions of people in
foreign countries and in the United
States. These losses would
not have occurred had officials and attorneys in the
States not engaged in the
crimes of coverup misprision of felonies, obstruction of
justice, and had they not aided and abetted the criminal
activities. Congressional committees, Justice Department
personnel, the FBI, and the CIA, all knew about the corrupt
operation for years.
OF STARTUP FUNDING
commenced operations in Pakistan in 1972, with much of its
funding provided by Bank of America and the CIA.(372)
Bank of America claims that it sold its BCCI interest in the
early 1980s, but records show that Bank of America continued
to control much of BCCI's operation until shortly before BCCI
was shut down. In the early 1970s CIA operative Gunther
Russbacher transferred sizeable amounts of CIA funds into the
bank for the start-up operations.
TO ORDER FOR CIA ACTIVITIES
The CIA knew about BCCI's activities, finding this mindset
suitable to its own operations. If, for argument, the CIA was
not in partners with the BCCI activities, its world-wide
network of operatives and assets should have discovered the
BCCI activities that brought about the world's worst banking
loss. BCCI was custom-made for the covert and corrupt
activities of the CIA, the Mossad, drug dealers, and
terrorists. My CIA contacts, including Russbacher, described
how CIA operatives used the bank to launder money from CIA
enterprises, including drug trafficking proceeds, money from
its various financial activities within the
States, including its looting
of savings and loans, to fund unlawful arms shipments, finance
terrorist operations,(373) undermine foreign governments, and
other covert activities.
years before the BCCI scandal broke, Robert Gates, Deputy
Director of Intelligence Operations at the CIA, stated to
another CIA official that BCCI stood for the Bank of Crooks
the Country Wide deal and the ML deal seem like “fronts” with
B of A catching falling daggers in both instances paying huge
premiums for major players on their way to bankruptcy in
markets that are getting crushed!!
deals have that familiar squalid Enron-esque stench emanating
would suggest that all they’ve really done is to buy a little
more time – days perhaps?
of A CEO, Ken Lewis, Openly Contradicts “Pinocchio”
thing I noticed today, when B of A CEO - Ken Lewis – appeared
at a televised press conference with ML CEO – John
Thain: Lewis emphatically stated that regulators
had not coerced or “arranged” their shot-gun-marriage. Lewis stated that the
deal was done of his and Thain’s own volition.
forward a couple of hours and Pinocchio Paulson is stating how
pleased he is that Fed and SEC managed to bring major market
players together over the weekend.
clowns are contradicting themselves.
grief, they can’t even sleaze properly.
For Energy Shortages
the talk that Ike had not affect the energy complex in the
Gulf seem to be pre-mature and no doubt played-up as cover for
the “fire bombing” of the energy futures.
Hub operator says force majeure remains
YORK, Sept 15 (Reuters) - The operator of the Henry Hub, the
benchmark trading point for New York Mercantile Exchange gas
futures, said Monday it was assessing the status of the Hub
and facilities on its mainline natural gas system, but force
majeure declared over the weekend remained in effect until
addition, Sabine Pipe Line LLC said in a website posting
initial reports indicated flooding from Hurricane Ike had
impacted the current operability of its system.
is the owner / operator of Henry Hub. The Henry Hub
offers shippers access to pipelines that have markets in the
Midwest, Northeast, Southeast and Gulf Coast regions of the
States. The Henry Hub
interconnects with nine interstate and four intrastate
pipelines including the following: Acadian, Columbia Gulf, Gulf South Pipeline,
Bridgeline, NGPL, Sea Robin, Southern, Texas Gas, Transco,
Trunkline, Jefferson Island, and Sabine's
mainline. Sabine's two compressor stations at the Hub provide
the operational flexibility to compress 520,000 Dt/d and make
any necessary deliveries to high-pressure pipelines. Sabine
currently possesses the ability to transport 1.8 Bcf/d across
the Henry Hub.
likelihood of spot energy shortages [refined product and Nat.
Gas] are growing by the day.
The Dollar Rally
Dr. Jim Willie
reported that U.S. Dollar denominated bonds are likely
being “called in”:
all likelihood the Bank For International Settlements in
Basel Switzerland ordered the
States to call in USTreasurys
and USAgencys, the bond instruments, the financial weapons of
mass destruction. The
BIS ordered the financial leadership to call their damaged
risky debt securities home, so that they can explode on
US soil, so
that their greatest concentration rests on US soil, so that
the maximum loss occurs to US institutions, so that the risk
can be kept to a practical minimum for foreign nations. The
benefits given to Americans are two-fold, one a bizarre
paradox, the other an open door to
concur with Dr. Willie assessment. It stands out in my mind
that this past weekend’s Wall Street restructuring involved ZERO FOREIGN
Barclays, who had been rumored to be in the mix to save
Lehman walked away from the table. Korean money, earlier
last week, did the same thing.
What is really
at stake here, folks, is not simply the U.S. Dollar or
U.S. banks. It’s FIAT MONEY –
The BIS has a
franchise to protect – CENTRAL
As such, I look
for U.S. Inc [the Federal Reserve] to become increasingly more
isolated in the days ahead.
If you have not
done so already, buy some physical metal. Articles already
posted at Kirbyanalytics.com
outline the ins-and-out of doing this.
shortages becoming more and more likely, think in terms of how
you will heat your home this coming fall / winter should there
be interruptions to Nat. Gas supplies.
I believe in
stockpiling at least a months worth of non-perishable
Good luck and
-- Posted Tuesday, 16 September 2008 | Digg
This Article | Source: GoldSeek.com