now, add the plated tungsten bars accusations...
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.
Their was a 18 billion run of withdrawals in one week that put WAMU under.
I saw it happening and for a week they offered a 5% one year CD trying to recover.
I saw it happening and took out a $200k one year.
Do not go silver or gold ETF because they may have the same problem. All you get is a piece of paper that says you own gold/silver. Some of these ETF’s may be doing the same thing as the commodities exchanges. You can open an IRA trust that will by physical gold approved for IRA accounts. Check out www.bulliondirect.com, and www.apmex.com for info on IRA approved gold for IRA trust accounts that you can personally open.
This appears to be the recycling of a story that is a year old. Try searching on the Hong Kong moves gold bullion.
LOL! You know better than that!
To be honest, I am scared out of my wits. I am not in a position to take on a mortgage, even though the ONLY way I can preserve wealth is to have tangibles, not paper. I have 11 acres of land here in Nebraska... I have a well, power and trees planted... BUT I cannot commit to building until I am working FT... There is no way the bank will go with only one income... and we figure, at 30 percent of net earnings, that $186,000 is the most we should take on. (That figure being determined by 30 year mortgage and the fact that you generally pay twice the principle in interest... so I gave us a little cushion)
Thought about buying an existing structure, but around here most houses are 40-50 years old, poorly insulated, and not up to code. Then there would be the additional costs of relocating the structure to the site of our land, no small cost there. So the only viable option is to build. Besides, if I am going to pay for a home until I am 80 years old, I damn sure want the house I like, and not some others’ “hand-me-downs” ;)
Yes, and especially the commercials that started not long ago, where they tell you to send your gold jewelry in exchange for cash. You gotta be short a few brain cells to fall for that line.
This one sounds like an urban legend.
Only when it is not a government doing it.
Neither had I until a friend sent this to me. We both know what is coming and we try to cover our butts, but you can only do so much.
You might like a house full of history, one several decades older than the norm which got an interior modernization in the last twenty years.
now, add the plated tungsten bars accusations...
I am aware of that, and I have my suspicions as well, BUT, would you really expect the MSM to broadcast this?
SH*T too late... But perhaps I am able to do a rollover from the ETF back into a “gold” IRA? Was also considering to roll the ETF into an annuity (Knights of Columbus) that is backed by solid tangibles (land assets) and guarantees 3 percent return annually. However, still have the problem that the ultimate purpose for the IRA/RTF etc is to fund a down payment on a first home. I do not believe that an annuity can be used that way without penalty (seven years before withdrawal, tax only on interest).
I think that is likely not true... I mean, I do not think the Chi-coms are that stupid... and they are telling their people to buy gold and silver... My guess is that, with having over a billion people, the Chi-com gov would be unable to contain the chaos that would ensue if their fiat currency go belly-up.
goldbug ping (with a tip of the hat to JJ)
A few cautions on some of the assertions here:
- The Hong Kong story is from September 3, 2009, and copied to the King World website only the other day, see here for the original http://www.marketwatch.com/story/hong-kong-recalls-gold-reserves-from-london-2009-09-03
- His observation / accusation that the Scotia Moccata vault is virtually empty is supposedly based not on a recent visit but on a 2008 visit and is adamantly disputed by one of SM’s clients here http://www.freerepublic.com/focus/news/2488905/posts?page=33#33 I would not be surprised to see SM filing a lawsuit for both libel and slander.
Mail me to get on or off the Free Republic Goldbug Ping List.
A bit of sampling.... and there’s a lot more out there.... The fraud is real my friend...
http://seekingalpha.com/article/128092-where-does-the-gold-etf-get-its-gold
http://seekingalpha.com/user/60397/comment/394383
http://beforeitsnews.com/news/31384/Will_fraud_lift_gold_prices_to_10,000_ounce.html
That part of the story is from Sept 2009... BUT the remainder is this April. Now put 2 and 2 together. The Chi-coms have been and still actively continue to purchase large quantities of gold. And you have short selling going to the hilt on gold “stocks” (ETFs). The SHF express is on a fast track, IMO.
“Their was a 18 billion run of withdrawals in one week that put WAMU under.
You need to read this—
http://seattle.bizjournals.com/seattle/blog/2010/04/follow_wamu_story_on_capitol_hill.html?ana=twt
and this—
http://seattle.bizjournals.com/seattle/stories/2010/04/12/story2.html
“In his first public statement since the seizure of Washington Mutual, former chief executive Kerry Killinger plans to tell a congressional subcommittee that the bank could have survived and that regulators seized it precipitously, according to people familiar with his testimony.
Killinger’s testimony, and that of former WaMu President Steve Rotella, obtained in advance through interviews by the Puget Sound Business Journal, will paint a picture of a bank that was close to stabilizing its finances amid the financial turmoil of 2008.
Killinger plans to use charts and graphs at the April 13 hearing in Washington, D.C., to show the Seattle-based bank’s improving financial condition at the time, and to argue against the “bargain purchase” of WaMu by JPMorgan Chase & Co. The New York bank paid $1.9 billion for WaMu’s $307 billion in assets.”
O hope WAMU wins their suit.
They were a great bank and Chase sucks!!!
OMG... I am going to be sick... They did a fractional reserve scam with precious metals! Multiple owners (ETFs) on same bar of gold or silver!
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