Posted on 04/10/2010 8:12:49 PM PDT by TCH
The Largest Fraud In History?
King World News Exclusive Harvey & Lenny Organ & Adrian Douglas Wednesday, April 7, 2010
Adrian Douglas, Board of Director for GATA, comes forward with another stunning new bombshell involving the man he testified with at the CFTC meeting, Harvey Organ.
Harvey and his son Lenny describe their eyewitness account, with another piece of the puzzle in what could turn out to be the largest fraud in history. This time a large international bank with almost 15 million customers in 50 countries around the world becomes part of the unfolding saga...
“Hong Kong Pulls All Gold Reserves from Depositories in London”
http://www.kingworldnews.com/kingworldnews/G+_Articles/Entries/2010/4/7_Hong_Kong_Pulls_All_Gold_Reserves_From_Depositories_In_LondonBy_MarketWatch___Chris_Oliver.html “Morgan Stanley To Settle Class-Action Lawsuit” http://www.kingworldnews.com/kingworldnews/G+_Articles/Entries/2010/4/7_Morgan_Stanley_to_settle_class-action_lawsuitBy_Reuters___Paritosh_Bansal.html
More to the story: Scariest sign of the future I have ever read Date: Wed, 7 Apr 2010 19:23:57 -0400
The CFTC meeting occurred 3/25/10. Some of the most respected names in the market are poo pooing insufficient gold to meet current demands. Do with this information as you wish.
http://www.24hgold.com/english/news-gold-silver-gold-manipulation-officially-confirmed.aspx?article=2782557110G10020&redirect=false&contributor=Eric+de+Carbonnel
Here is a short summary:
Amazing set of revelations from the last CFTC hearings 1) A whistle blower, Andrew Maguire, cited specifics of a gold market rigging, as it was occurring in real time.
2) There is no gold corresponding to the vast "gold deposits" at the major LBMA banks. During the CFTC hearings, Jeffrey Christian of CPM Group informed that the LBMA banks have about 100 times more gold deposits than gold bullion.
3) Almost all of the trading activities on the London exchange were settled by paper for paper, not for physical metals as the exchange supposedly requires.
4) There are thousands of clients (Asian and Middle Eastern governments, sovereign wealth funds, etc) who think they own hundreds of billions and perhaps trillions of dollars of gold bullion, and are being charged storage fees on that fantasy bullion, but what they really own unsecured gold loans to the banks at a negative interest rate.
5) It is impossible for the London exchange to ever deliver all the gold and silver owed to the owners of contracts.
Unbelievable coincidences
1) The live television broadcast of the CFTC hearing suffered a “technical failure” right as Murphy was set to begin his testimony. This was corrected right after Murphy was finished.
2) At least one live voice broadcast (radio) failed during Murphy's presentation.
3) After the hearing, Murphy was contacted by several major media outlets for more interviews. Within 24 hours, all the interviews were canceled.
4) The day after Maguire gave his radio interview, he was the victim of a hit and run collision. Somebody sped out of a side alley at top speed, smashed into Maguire’s car, and then tried to escape. A high-speed chase ensued, and the perpetrator was caught by police. Although the British press has reported that this might have been an assassination attempt or a threat, there has been no word from the police.
5) Shortly before somebody crashed into Maguire’s car, the CFTC caught on fire. This fire happened to be located in the one small basement room where gold and silver trading data and other pertinent documents were kept.
6) A few days after the CFTC caught on fire, a DOS (denial of service) attack occurred on the King World website which contains the radio interview of Maguire and his emails to the CFTC.
Virtual blackout by the mainstream news media
1) Almost no one in the mainstream media is covering the revelations of the CFTC hearings.
2) At the Wall Street Journal, a search on "Gensler" (CFTC Chairman Gary Gensler would surely be included in any report) produces only one item from before the hearing. Readers of the Wall Street Journal will never hear what happened at the hearing and whether the CFTC paid any attention to them.
3) The few mainstream stories that do cover the CFTC hearings are unnaturally one sided, failing to mention anything other than opposition to any idea of position limits in metal markets
4) The media lock-down is being met by disbelief and confusion.
5) A Google News search on "Gensler" confirms the virtual blackout by the mainstream news media. 6) The media’s strategy seems to be to stonewall and hope scandal goes away.
Implications
1) This is a scandal of monumental proportions. Compared with this scam the sub-prime crisis is peanuts. This is a potential multi-trillion dollar fraud that could bring down the world's financial system This has to be dealt with, one way or the other. This is either the equivalent of the fictionalized testimony on the order of the Salem Witch trials, or one of the most damning accusations of malfeasance in office against quasi-governmental agencies, and probably US officials, since Teapot Dome.
Fraud is the one word which comes to any investors mind when s/he reads about the Commodity Futures Trading Commission (CFTC) hearing on manipulations in bullion market by gold cartels--the world Largest Fraud: 5.5 Trillion.
The Gold and Silver Manipulation spanning decades (going back well back into 1980s) has now taken mammoth proportions, one that could bankrupt not just a few banks but entire countries along with their central banks.
2) As the significance of the CFTC hearings revelations sink in, it will create a gold rush and dollar panic, resulting in the biggest short squeeze in the history of all commodities.
See 'Preview of 2010's Gold Rush and Dollar Panic' http://www.marketskeptics.com/2009/02/preview-of-2009s-gold-rush-and-dollar.html
3) The upward explosion in gold prices, it will result in a complete loss of confidence in the U.S. dollar.
Conclusion: ‘Gold Market Reaching the Breaking Point’ http://www.marketskeptics.com/2009/10/gold-market-reaching-breaking-point.html
We'll now we are there.
If you wondering how it will all end, I believe there will be a big financial freeze. Checking accounts, money market accounts, brokerage accounts, etc... Everything will become inaccessible.
The end of the world as we know it.
...and in local news-
http://seekingalpha.com/user/415296-truth-and-transparency/instablog
...
By all accounts, JP Morgan Chase (JPM) purchased the whole bank assets of Washington Mutual for 1.88 billion in September of 2008. Anyone would agree that 1.88B for a 110 year old organization that had 270 billion on deposit, 29 billion in liquid cash, 2700 banks, 8000 ATM’s, and a credit card company is an unjust deal that deserves scrutiny.
The deal becomes even more unjust when one considers the impact it has to JP Morgan - - the deal creates the nation’s second-largest branch network. A combined network reaching 42% of the U.S. population, with strong positions in attractive markets such as California, Florida, New York, Texas, Arizona, Illinois and Washington. With the assumption of WaMu’s assets, JP Morgan will have $900 billion in deposits, 5,400 branches and 14,000 ATMs in 23 states.
In addition when you closely examine the proposed settlement you’ll see that JP Morgan actually receives monies in the form of 70% percent of a tax return, referred to as tax return 1. That percentage equates to 1.82 B or 2.10 B (depending of the actual returned amount). Yes, it’s shocking but that is the deal that Weil, Gotshal & Manges LLP was able to muster in 18 months - - a deal that did not benefit WMI but gives additional monies to JP Morgan Chase. In fact the JPM’s portion of the tax return basically means that JPM purchased WaMu for nothing, that the amount paid to the FDIC under the P&A and the amount to be received in tax returns is a wash, JPM gets WaMu for free.
...
Fingers crossed that this article is not on the money.
Not if you take the ID chip!
Once again Commufascicorrupitalism commits mass murder by hunger.
I’m sweating bullets... I converted our IRAs ($16,000)into silver certificates (stocks) in a “custodial” account in London... with freaking Chase and JP Morgan as the trustees! OMG... I am wondering if I am able to transfer the stock into actual silver and place it in a local bank.
A lot of criminal activity going on in the financial markets, aided and abetted by politicians, mostly the democrats, like Barney Frank and Chris Dodd!!
If you find out, post it here. I would like to know as well.
What are they talking about? Largest fraud in history?
The largest is in the WH?
FWIW
hhhhhmmmmmm.....
Ruh Roh...
I’ll be on the phone to my broker, first thing Monday morning... but I got a really bad gut feeling about all this.
Just a coincidence? I'm BUYING bullets!
So we’re all screwed?
later
Could just have been Murphy's Law at work!!!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.