there will come a point in time when we will have a failure to deliver...and there it is...
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.
Reminder to read this in the morning. I guess my old man’s advice of “If you’re going to buy gold, buy gold! And not some piece of paper that says gold” was good advice.
Yep, fractional of 100 to 1.
All in paper with NO Physical!!!!
Makes me sick. It is truly amazing.
Don’t snoop around where it’s stashed because it may just explode if you have forgotten the correct access point!
Err... I cannot put a trailer on the land... That clause was in the deed, along with my own that stipulated there had to be water of sufficient quality and quantity. I am a shade away from 50... but thanks for the compliment... You made my day! :)
Actually, it's that 3 wire 12,470 kilovolt Amps that are the tricky part to get through. The "BOOM" part is the secondary entry prevention device... I won't divulge the 3rd failsafe...
Does the New York Post count?
http://www.nypost.com/p/news/business/metal_are_in_the_pits_2arTlGNbMK7mb1uJeVHb0O
It helps, but the story in the Post is not nearly as histrionic as the original post. The story still seems to be somewhat hyped. It basically amounts to the Fed operating via Morgan to manage/manipulate gold prices.
This seems like a fools errand.
there will come a point in time when we will have a failure to deliver...and there it is...
Yeah...my sister is walking around with my 401K....
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