Showing posts with label LBMA Default. Show all posts
Showing posts with label LBMA Default. Show all posts

Saturday, July 20, 2013

The End of the American Century

The United States is finished as a great power, its wealth having gushed to the East in a torrent taking little more than 3 decades. The genesis of the destruction goes back to 1913 but the hand writing on the wall appeared in 2008.
 
As difficult as it is to prepare for a 3 page blog posting, we will adumbrate a picture of the decline and fall of the United States of America, an act which required one Biblical generation of 100 years beginning with the establishment of the Federal Reserve System in 1913, perhaps the key inflection point in American history.
 
The significance of the Federal Reserve Act is that it represented a coup against Constitutional government which explicitly provided for the usage of gold and silver as money. Yet the tyrants of Wall Street wanted their own currency as money – nothing more than scrip based upon debt. Contrary to what most naïve – if not stupid – Americans believe, the Federal Reserve is a private entity which only answers pro forma to Congress. It is a willful independent body of financial hyenas who control the value of money by whim.
 
The significance of the Federal Reserve cannot be overstated. It provided for the financing of World War 1, a war which served no legitimate purpose for peace loving Americans. It did provide an entre to Europe which the US banksters used to colonize Germany.
 
The other significance of the Federal Reserve was that US law gave a private corporation the right define and price money. The effects of its administration have been a constant decline of the value of the dollar which has only benefited the wealthy and a stream of endless wars. Those without pricing power in the market are doomed to impoverishment, a fact which statistics make abundantly clear.
 
For example, the USA used to have the highest per capita income in the world. Today it is 14th. Boohoo you might say, but this affluence supported the broad distribution of jobs and income and the consumer debt-slave economy. Without that wealth, the USA economy becomes a neo-feudal society where 47 million people are food stamps - and rising rapidly.
 
Wall Street’s suzerainty over Germany has never ended as it established Adolf Hitler in power through the agency of Prescott Bush, Averill Harriman, Henry Ford, the Rockefellers, and other citizens of the world who disdain constitutional self government. World War 2 was not accident and could not have been financed without the largesse of the Federal Reserve. Its ability to print money on demand funds a great military industrial complex.
 
The same wall street cabal which produced World War 2 murdered President Kennedy, produced Vietnam, the inflation and oil crises of the 1970s, deindustrialization of the 1980s, the gold divestiture of the 1990s, and the Nazi state of the 2000s through the hoax of 9/11. Indeed the Third Reich has ruled for 100 years.
 
The prompting of this brief précis on American history over the past 100 years was occasioned by an interview with Andrew Maguire, a veteran precious metals trader, who informed listeners through an interview with King World News that the recent takedowns in the price of gold were desperate last acts of the financial elite in New York and London to prop up the value of their fraudulent currencies. We reported recently the defaults at the LBMA but they have since intensified on several accounts. The most significant may be the lengthening of the delivery period of LBMA good delivery bars from 2 days to 5 days, a very ominous sign of the shortage of gold. Maguire also reports that the LBMA, which had been bailing out insolvent bullion banks by lending them gold – somewhat as a discount window at the Fed – has ceased providing this service because it can no longer obtain the gold.
 
The Gold Forward Lease Rate (GOFO) has gone negative and indicates a pronounced backwardation of gold, an extremely rare event. Antal Fekete has written extensively on the interpretation of this phenomenon, but to summarize it ever so briefly, it means that the fiat regimes are finished and there is no going back.
 
Maguire reported that massive quantities of gold have been sucked out of the Western central banks to the East, most notably China, and that it has gone into vaulting systems which do not permit short term storage. This means that the gold has gone into hiding and will never return to the market in this generation.
 
The utter inability JPMorgan Chase in the form of the New York Fed to deliver German gold is additional evidence of the scarcity of gold and its backwardation – to say nothing of their complete repudiation of fiduciary responsibility and morals. The Swiss have been stealing gold from allocated accounts, another proof of the scarcity of gold and its backwardation. Jim Willie reported the huge premiums of 20-25% the LBMA was paying to liquidate gold contracts for delivery.
 
The Western banking system is operated by Nazis and a small band of foolish, criminal frat boys who squandered in one generation the substantial wealth once owned by the United States. Not only did they deliver industrial capacity to the Chinese – by design – but they also pissed away Fort Knox and gold vaulted anywhere else. He who owns the gold makes the rules.
 
With American wages falling for 4 straight years and a double dip of the 2008 depression having started in late 2012 or early 2013, the prospects for a turnaround are impossible. When it hits with full force, there will be no security net to catch anyone. All who have not prepared will perish as social order collapses. The bankruptcy of Detroit is an archetype of what future America has.
 
The Nazis in Wall Street and academia who rule America are deeply engaged in Satanic rituals and include some of the most blood curdling acts imaginable in places such as Bohemian Grove as we reported in our story on the Midwest sex ring operating out of Omaha Nebraska.
 
The gold backwardation phenomenon hit hard because it is the sentry announcing the collapse of the dollar and all fiat currencies everywhere. However, the Nazis have taken much of the Ft Knox gold and will have abundant means to continue their quest for One World Government elsewhere.
 
The United States has enormous military power which it uses like a bully everywhere to take by force what it cannot achieve through peaceful just means. Its vast surveillance program is without limits or oversight and can extend for a considerable time the control which the Nazis have over the world. However, people of this country are without recourse because they gave away their birthright in order to have corporate socialism, a Faustian bargain if ever there were one. As Thatcher said, “The problem with socialism is that you eventually run out of other people’s money.” The people of Detroit know that all to well.
 
However, the loss of reserve currency privilege – exorbitant as it is – will undermine the military, causing the Nazis to become ever more desperate in their attempts to hold back the waters at the dam. Eastern and Emerging Bloc nations are well along the way in establishing a non-dollar trading system, a threat as dangerous to Nazi control as any military threat.
 
We do not use hyperbole in referring to the plutocrats as Nazis. We mean that they are power behind the throne going back to World War 1 and post-war Germany where they established Adolf Hitler to grab state wealth for private ends. But we should also quickly note that not all wealthy people are evil. Many of them are normal decent people. However there is a very small cadre of them, along with their academic and governmental fellow travelers, whose contempt for freedom and self government is boundless.
 
The loss of gold and its backwardation sealed the fate of the USA. Lehman was the handwriting on the wall, after which witnessing Belshazzar partied on through the night until Persian forces took Babylon that very night. So Obama – a tool of Wall Street – continued his trillion dollar deficits as far as the eye can see, funneling fabulous wealth to the Wall Street Nazis and the Far East.
 
Thus the Neo-con cabalists have boasted in their disgusting Project for a New American Century deeds which they will not achieve short of violence, bloodshed, and war. They are wicked to their very core.
 
While many will dismiss our analysis as histrionics of a rather rabid variety, we state the reason for our pessimism due to the loss of wealth in gold and industry. It cannot be repaired with traitors governing the nation, and its people are too drugged to see the problem or its solution. We face an Argentinian future if we are fortunate.
 
We have no specific advice other than to get gold – with all thy getting, get gold.

Reference
Interviews with Andrew Maguire, King World News, July 19-20, 2013

Copyright 2013 Tony Bonn. All rights reserved.

Tuesday, April 23, 2013

Major Swiss Bank Defaults on Allocated Gold

Jim Sinclair reported in King World News that a friend of his was denied his gold by a major Swiss bank on the grounds of anti-terrorism and anti money laundering schemes. Although Sinclair took the explanation somewhat seriously, he clearly understood that the Swiss bank did not have the gold.
 
Sinclair is an iconic gold man whose trading days go back to the first gold rush of the 1970s. Paul Volcker, then chairman of the Federal Reserve, asked him to lead the liquidation of the Hunt brothers vast silver holdings in the wake of the engineered silver crash in 1980. In short, Sinclair has superb contacts and insight into the precious metals markets.
 
This news comes on the heels of our report yesterday (4/22/2013) that the LBMA and COMEX had virtually defaulted on their gold contracts. The Swiss banks have been stealing allocated gold accounts for years, thinking that no one would come looking for his gold.
 
While this recent development is disturbing, Sinclair reported that the refusal to deliver gold came from the central bank which is up to its eyeballs in criminal activity. We laughed when we read that the refusal was on anti terrorist grounds. The American Central Intelligence Agency is world's biggest terrorist organization and operates al qaeda as a mercenary army to concoct such operations as the Boston Marathon bombings.
 
The reason is to complete the establishment of the Nazi state. We repeat again our warning to purchase only physical gold and to keep some of it overseas. The US government has numerous concentration camps in operation as Jesse Ventura reported on his television series Conspiracy Theory.
 
Those who insist upon retaining their Constitutional rights will be hunted as terrorists and murdered without trial by the US government. Martin Luther King, Jr was only one such victim.
 
References
Sinclair - Swiss Bank Just Refused To Give My Friend His Gold, King World News, April 23, 2013

Copyright 2013 Tony Bonn. All rights reserved.

Monday, April 22, 2013

LBMA Defaults on Gold Contracts

While Western monetary quacks have ridiculed gold until their credibility is no greater than what Bill Clinton said of Paula Jones’, the cocks have come home to roost. The LBMA and COMEX have defaulted on their gold contracts, with nary a sign of prosecution for their criminal actions.
 
Of course there will be no prosecutions because the London Bullion and Metals Association is backed by the same criminal governments which participated in the recent gold takedown. The same holds true of COMEX – the American precious metals exchange.
 
Most of our dear readers may not know what the COMEX and LBMA are all about, and may not understand the implications of these defaults. There are a number of reasons to be concerned but the two foremost in our mind is that the fiat and fractional currency scheme is under severe stress and the rule of law has been destroyed through the egregious breach of contract represented by the defaults.
 
Officially there was no default because contracts were settled in cash. But such a settlement is not in the spirit of the contracts and is a breach in material of the agreements.
 
There is a third reason for concern, namely that the United States has escalated its wars of imperial aggression in Africa, seizing Mali’s gold mines on the heels of seizing Libya’s supplies. We have reported on other military actions in other parts of Africa where the United States is stealing natural resources of once sovereign nations as the US recolonizes Africa.
 
The criminal bank ABN Amro fired the first salvo when it reneged on gold deliveries to customers who had entrusted their gold with the bank, an error in judgment of epic proportions. Days later, the COMEX dramatically increased margin requirements on silver and gold in a panicked response to the relentless drain on its gold supplies.
 
Andrew Maguire, a successful financial manager, told King World News on April 22, 2013 that when he advised his clients six years ago to retrieve their physical gold, COMEX reacted with great hostility to his demand for delivery. The reason is that it threatened their solvency and rehypothecation scheme.
 
JS Kim, writing at ZeroHedge on April 22, 2013, reported the following banksters in attendance at another gold slam hosted by Barry Soetoro, president of the United States, one day prior to the unprecedented assault on the price of gold the week of April 8, 2013.

Lloyd Blankfein, Chairman and CEO Goldman Sachs
Jacques Brand, CEO Deutsche Bank
Michael Corbat, Chief Executive Officer Citigroup
Jamie Dimon, Chairman, CEO and President J.P. Morgan Chase
Sergio Ermotti, CEO UBS
James Gorman, Chairman and CEO Morgan Stanley
Gerald Hassell, Chairman and CEO Bank of New York Mellon Corporation
Jay Hooley, Chairman, President and CEO State Street Corporation
Abby Johnson, President, Fidelity Financial Services, Fidelity Investments
Steve Kandarian, Chairman of the Board, President and CEO Metlife
Brian Moynihan, President and CEO Bank of America/Merrill Lynch
John Strangfeld, CEO, Prudential
John Stumpf, Chairman, President and CEO Wells Fargo
Jim Weddle, Managing Partner, Edward Jones
Bob Benmosche, President and CEO American International Group
 
There were two reasons for the destruction of value. The first and foremost was to avail themselves to more gold at huge discounts. Some of the gold went to payoff pesky clients, but much more went into their personal accounts which was the second reason for the slam down.
 
For those who wonder how the banksters crashed the price, we give you a simple answer. The government sponsored banksters have the privilege of selling gold without having any collateral. And so they sold 400 tons of it without having a single ounce – an operation known as shorting. Unfortunately for them, it did nothing to dampen demand.
 
Many analysts note that gold is a vote against the fraudulent fiat, debt based, fractional reserve monetary system in place throughout the world. Thus a suppression of the gold price would challenge anyone in that belief  – they hope – from acting on it in the acquisition of physical gold.
 
Previously, the government had resorted to destroying Peregrine Financial and MF Global to raid its customers’ gold. But that was not nearly enough to satisfy deficits in their gold accounts and their bankster sponsors.
 
He who owns the gold makes the rules. Gold is going to those who respect it. The United States is drained of its official gold holdings although its government continues to claim over 8000 tons. Fort Knox holds nothing but nerve gas.
 
We urge folks to own physical gold – the paper traded exchanges will leave you high and dry. They are not to be trusted. We also urge all Americans to retrieve gold from safety deposit boxes. It will be confiscated in the very near future.

Reference
Maguire - Elaborates On The LBMA Default & Ensuing Panic, King World News, April 22, 2013
Why the Western Banking Cartel’s Gold and Silver Price Slam Will Backfire - And How You Can Protect Yourself from the Blowback, JS Kim, Zero Hedge, April 22, 203

Copyright 2013 Tony Bonn. All rights reserved.