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Bankrupt, Insolvent, Desperate and Institutionally Corrupt|
The ETF sell-off is obvious price manipulation; supposedly illegal. This is not just because the amounts are so large that it must involve collusion and/or violation of position limits, but also the timing.
ETF holdings continued to rise in the second half of 2012 even as the price of gold moderated, so the banksters began to sell off ETFs too. Whereas the gold price reached a peak in October, the ETF holdings peaked at the end of the year. This highlights the illegal manipulation as supposed buying by the ETFs did not affect the price.
Similarly, the UK's unlent reserves show a large rise from the beginning of QE from ￡40.758bn to ￡152.083bn in just four months at the end of Jul09. But then the amount gradually falls back because the price of gold took off, hitting a nadir as the gold price reached its all time high. However, the US unlent reserves have risen inexorably, seeing only a slump 1Q10 and just a slight dip as gold hit its all time peak.
Only when the corrupt CME repeatedly raised margins on silver and then gold and Jamie Dimon thieved assets at MFGlobal and PFG Best, whilst closing the positions of his victims, was the UK able to continue ramping up unlent reserves to a new peak of ￡281.259bn at the end of Nov12. The correlation is clear and it is the hyperinflationary run on the currency which restrains the QE debt-monetisation.
Currently ETF sell-offs are not happening in one fell swoop. Instead, the banksters are using a herding action, gradually selling off ETF holdings in the same way the corrupt ratings agencies gradually lowered ratings for eurozone sovereign debt.
Retail investors should fear confiscation. The Wild, Wild West is so corrupt that they've generated massive, unpayable liabilities. That alone is fraudulent and criminal and they're now thieving their way out of debt, having thieved their way into debt.
The fear of hyperinflation is also credible with attempts to deter outflows of funds abroad. For example: After conducting the biggest cover-up of one of the biggest frauds in the country's history, the former bosses of the cameras giant Olympus managed to walk free from the Tokyo court yesterday morning. This despite the fact that they pleaded guilty, and despite justifiable demands from the prosecution that they serve up to five years' jail.
- Jim Armitage: It took a Brit to lay bare the state of Japan, but then its elite failed the test
This is similar to the scottish authorities releasing the convicted bomber, al-Magrahi, on "humanitarian" grounds. It was because he was innocent.
Conspicuous by its absence is any detail of the supposed fraud at Olympus. All you get is: Michael Woodford, the British whistleblower chief executive who discovered that his boardroom colleagues were covering up a cancerous $1.7bn (￡1.1bn) fraud. . .
So what WAS this "fraud". Yep! It's similar to Gerald Schatten's "whistle-blowing" of Professor Hwang Woo-Suk using his own research assistants for biological samples; a non-crime. Or Irv Miller's "whistle-blowing" email saying, "we should come clean" about the pedal faults in Toyota cars which turned out to be completely bogus but which featured on CNN's Quest Means Business, day after day after day. Notably, Toyota's chairman had already announced that Japan should give the amerikan krudmobile industry a break. Olympus had invested in assets seemingly to deliberately generate losses. In other words, it was tax avoidance (legal) rather than tax evasion (illegal). In other words, the amerikan economy is SO FREAKIN' bankrupt, insolvent, desperate and institutionally corrupt that the police are robbing the inmates by seizing any large sums of cash under the bogus War on Drugs.
Similarly, prior to Ed Snowden's revelations, Huawei and ZTE were attacked because the Great Satan can't afford to import anymore, even as they admit there is no evidence to back up their claims (and despite the Echelon spying network, Stellar Wind, the US ban on strong encryption and Microsoft's NSA backdoor on your computer plus the UK's contrived Levenson Enquiry). They did the same with plaster board, admitting their own labs. found no evidence of corrosive gases being emitted from chinese imports but the corrupt judges awarding damages which could not be claimed because he had no jurisidiction.
Other attempts to avoid capital outflows from the US are the TSA gropers blocking all the exits, Japan announcing two years ahead that it would double its monetary base, propaganda about a "slowdown" in China and now Mario Draghi adopting the same "extended period" term.
The UK is similarly, bankrupt, insolvent, desperate and institutionally corrupt: However, it said suppliers complained the bidding process was "difficult and complicated" and that the process favoured large companies with secure revenue streams.
By early 2013 only BT and Fujitsu were left in the running, and in March Fujitsu dropped out after it said various factors had made winning the work unattractive.
- UK rural broadband roll-out criticised by auditors, state-run BBC
So corrupt is the US and UK that giving your savings to a bankster (someone you don't know from Adam and who is drawn to the finance sector by greed) is just advertising your stupidity. As Mark Twain said 100 years ago, you should be concerned about the return OF your money rather than the return ON it, which is why you need physical gold and why you should ignore the price. As ever, with the profits having been privatised, the debts will be socialised and they WILL co-opt you into what Adair Turner referred to as "socially useful" confiscation.