Decrypting the subtle nuances of Bernanke's speech this morning was hardly a surprise. The key is 'unemployment' and whether its structural or cyclical - we'll ease anyway (just in case). Debase first or most or lose... 86 mentions of 'unemployment', No mention of 'inflation', and no mention of 'oil-price-inspired-consumption-slump' or 'debase'. 'Structural' 16: 'Cyclical' 8
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Since I'm already discussing Bernanke, I saw this clip which would be funny if it wasn't so scary.
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This is from Krieger's Letter last week.
Hey sit down and listen and they'll tell you when you're wrong.
Eradicate but vindicate as progress creeps along.
Puritan work ethic maintains its subconscious edge
As Old Glory maintains your consciousness.
There's a loser in the house, and a puppet on the stool,
And a crowded way of life, and a black reflecting pool,
And as the people bend, the moral fabric dies,
The country can't pretend to ignore its people's cries.
You are the government.
You are jurisprudence.
You are the volition.
You are jurisdiction.
And I make a difference too.
- Bad Religion “You Are The Government” (Suffer 1988)
America is too democratic at home to be autocratic abroad. This limits the use of America’s power, especially its capacity for military intimidation. Never before has a popular democracy attained international supremacy. But the pursuit of power is not a goal that commands popular passion, except in conditions of a sudden threat or challenge to the public’s sense of domestic well being…….The economic self-denial (that is, defense spending) and the human sacrifice (casualties even among professional soldiers) required in the effort are uncongenial to democratic instincts. Democracy is inimical to imperial mobilization.
- Zbigniew Brzezinski in his 1997 book The Grand Chessboard
Those who don't read the news are uninformed, those who do are misinformed.
- Mark Twain
You Are The Government
For the last four or five years of my life I have spent most of my time and energy trying to further my understanding of how the control system operates globally and then to write what I saw in order to warn of the danger ahead to as many people as possible. I am only one of tens of thousands if not more of such messengers out there, roaming and posting on that vast sea of collective consciousness that is the internet. The battle thus far has been extremely rewarding and painstakingly challenging, but overall I can say that my post Wall Street life has been some of the best years of my experience on this planet. In case you haven’t noticed, I have been writing a little less frequently as of late. There are two reasons for this, one of which I have mentioned previously, the other I haven’t. The first reason is that I used to write a lot about financial markets, but as I have seen them morph from somewhat free on most days to a completely rigged hologram of propaganda, I have decided it is best for the vast majority of humanity to not be involved. I have said this before but I want to reiterate that I think for most people out there (unless they are professionals that think they can maneuver the end of the financial and monetary system as we know it) it is best to take any excess money and buy real goods. Physical in your hand gold and silver and if you so desire do things such as plant a garden and get your home as self sufficient as possible. I have been sending this message out for much of the last six months and I continue to think that this is the way to go. Even though I haven’t taken my own advice, I say leave the casino and don’t go back unless the whole system is reformed.
The second reason I haven’t been writing as much is because I think it is time for all of us that are aware to move on to the next phase. I believe the “awakening” phase is largely complete. Those that were going to awaken ahead of collapse have done so and now we must move into the “non-compliance” phase. This is not to say that it is not important to keep spreading the message and getting people up to speed on the news. What it means is that enough of us are awake and ready to take action. We know the score. Any amount of bills to indefinitely detain Americans without trials or executive orders that allows the President to take over the entire economy and break commercial contracts in an “emergency” such as war OR peacetime as Obama signed on Friday (http://www.whitehouse.gov/the-press-office/2012/03/16/executive-order-national-defense-resources-preparedness) will not wake us up and more. We are awake and we have critical mass. So let’s roll.
Non-Compliance
From the very beginning of my journey I realized that the Achilles heels of the power structure is precious metals. Central banks run our lives and enslave us through their fiat money that they create and distribute at will. In this was they are able to allocate money at zero cost to those that do what they want, yet at the same time keep funding from those that do not go along. This ensures that most of the people at the top have almost no ethics. Essentially, global central banking is the most effective dictatorship ever imagined because it is hidden and internationally made complicated so that the masses never understand or question it. Global Central Banking reminds me of the Lernaean Hydra of Greek mythology, which would grow back two heads each time one was cut off. In an interesting coincidence (or were the Greeks trying to tell us something) the Hydra was ultimately defeated by using a Golden sword given to Hercules by the goddess Athena. Buying physical precious metals is in my opinion the most effective way to end the control system overnight; however, what I have noticed is that only a small percentage of the population that is awake for whatever reason is able to fully grasp the monetary system and how it works and is therefore uninspired to take this course of action…at least for now. Being someone that does understand the monetary and financial system (please read my piece on why fiat money is immoral (http://www.zerohedge.com/article/guest-post-why-fiat-money-immoral) the most effective way I see for myself to exercise my vote against in and engage in lawful civil disobedience is to convert my control system counterfeit dollars into precious metals.
Since many people ask me about timing on the metals I will comment on that at this moment. The desperation I have witnessed as of late to smash the metals is beyond anything I have seen in the many years of watching manipulation in this market. That means one thing to me. These guys are absolutely terrified and are probably running very low on inventory with which to suppress. Never have I seen such panic. Such panic is what you would expect right before the parabolic stage begins. My feeling has been that they will attempt to get gold below 1600 and silver below 30 one last time in an attempt to break the back of the market. I think the physical off-take on any move down there will be massive and will set the stage for the move to $2,500 gold and $75 silver by the end of the year. On any raid down to those levels I will be in the physical market buying. Moreover, no matter where we are price-wise I plan on buying at least a little physical silver on May 1 of this year. This is to commemorate the one year anniversary of the silver massacre, which occurred as we “caught and killed” our enemy du jour Osama Bin Laden and dumped his body in the ocean before anyone could have a look. While it may not end the fiat system right away, I would suggest everyone consider doing the same on that date. It’s a giant middle finger to the Central Bank cabal and their minions and I think it is worth doing.
Freedom to Choose a Light Bulb
So the other day I saw a notice on my door. It said a team of people would be coming into my place in the middle of the day to change all the light bulbs to energy efficient incandescent ones. First of all, many years ago when I was in NYC I experimented with these bulbs voluntarily. I didn’t like them one bit. I decided to not switch over because I preferred the older ones. This is how a market is supposed to function. Then years later I have this team showing up at my apartment to literally tell me what kind of light bulbs I can use. What is next? How long I can shower? How many cups of water I can have in a day? What kind of food I can put into my body? Will there be a team from the local hospital coming next in an attempt to force a vaccine on me? This is a very slippery slope and we all need to stand up and say the government is not my boss. They are our publics servants. YOU ARE THE GOVERNMENT.
So anyway, these guys just came to my door not five minutes ago. I asked them if I was being forced to change the bulbs. They said no and they would give me the energy efficient bulbs and I could install them myself. I agreed to that. Then one member of the team became uncomfortable and said they would need to come and take my current bulbs which are operating just fine. So let me get this straight. These clowns that are supposed to be worrying about the environment and efficiency want to take perfectly fine bulbs and toss them out to force these new ones down my throat? Think about how many perfectly fine light bulbs these guys are going to confiscate and then throw away. Once again 2+2=5. This is about conditioning the public to do whatever the government says. When I refused to let them come in and confiscate my bulbs the guy (who was very nice actually) tried to sway me by saying they were working with the Federal Government. Little did he know ;) In any event, ultimately he admitted that I could refuse the new bulbs and I did. They left without giving me the new ones and without taking the old ones. A shallow victory? Perhaps, but this is how we need to proceed. Little steps. Take control of your own destiny and don’t be bullied around by a NYC/DC oligarchy of bullies with a printing press.
Moving Forward
As we move deeper into 2012 I will be exploring more ways in which to exercise legal civil disobedience in my everyday life in order to frustrate the system and remind myself that I am a sovereign human being. I would strongly suggest that you all do the same. I want to hear ideas from people so in the event you have some concepts of legal civil disobedience that will help dismantle the New World Order please send it along. These guys aren’t that strong. Yes they control the mechanisms of power but those mechanisms only function through our compliance. We must stop complying.
Peace and wisdom,
Mike
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Here are some gold thoughts I received over the last few days. I know that 1630 in gold was a big support level. It looks like it has bounced from it. I wanted to hear what some people in the industry were saying.
Hello all:
I clicked on the third chart down to get a closer look at the volumes. The bars average 10,000 contracts, at 1 millisecond intervals. So over the course of seconds, about 40 X 10,000 trades in SLV hit the silver market is a selling deluge. This amounts to 400,000 shares, each representing 10 ounces of ETF silver or 4 million ounces in less than a second. Nobody dumps that much paper on a market that fast if the object is to maximize the return, as the market is overwhelmed by the sudden volume and collapses. So, whoever did this wanted the price DOWN. The collapse of the share prices forces the ETF to divest real silver. I might further add that most of this selling volume would be counterfeit share shorting, which the market can not differentiate, so down she goes. This is why I do not deal in derivatives of any kind and I beg you to avoid them as well.
Andy Hoffman predicted this latest attack on the silver market as it was 6.5 days since the last one, and the attacks were occurring at intervals that kept shortening by half each time. The last one was 13 days prior to the March 20 deluge. The next one is due tomorrow on the 23. Just so you know. What can I say? The suppression is blatant and institutionalized in terms of time. Anyone selling real silver at the rigged spot price is a fool.
At this point, the skeptics amongst you are wondering why this sort of price rigging is done. The answer is simple. The U.S. Dollar centric monetary system is on the verge of collapse. It's a slow motion collapse, but it IS a collapse. Silver and gold are both targeted by the monetary authorities through high frequency trading like this because silver is Constitutional money. Silver defines the Constitutional Dollar at $1 = .73 ounce of silver. So, it the present Federal Reserve Note Dollar is losing credibility, the old silver backing of the REAL dollar is attacked in the paper-derivative markets as a reflex counterattack by a currency system which is doomed.
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Have you read or heard of James Rickards book "Currency Wars." There are more and more countries every day that are moving out of U.S. dollars and into other currencies. The global currency situation is what has me believing you better be properly diversified when the global currency situation hits. The bogus economic
Numbers we are receiving that represent very little improvement at best, is being spun by the media and I think uninformed people go along with it. Take yesterday, in the morning the mortgage loan numbers came out down 7% and by the evening the housing market was turning around. What?
The time to diversify is when no one else is. In this case others are "Central banks and international institutions" You however you will not here that on CNBC.
The investment grade coins that you have which are bullion with muscle are still being affected by up and down bullion prices. However, our supplies are getting shallow
And when money starts moving in the U.S., they will pop up quickly because of the lack of inventory.
Another fun fact, So. Africa use to produce 1000 tons a year, it now produced 212 tons in 2011. Now is the time to buy while it is still a buyer market. The head of one of the
15th largest hedge funds is a client and is buying all 3 categories of investment that we suggest. An recently we sold a 7 million dollar coin to a Wall St. rare coin fund.
Then there is the other group that is SEC approved for 5 rare coin funds. They haven't started buying as of yet. Lots going on.
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Another of Obama's supporters is corrupt, SHOCKING!
Muppet Master caught committing perjury it seems.
Let’s see what happens…
MF Global’s Corzine Ordered Funds Moved to JPMorgan, Memo Says
2012-03-23 20:04:23.262 GMT
By Phil Mattingly and Silla Brush
March 23 (Bloomberg) -- Jon S. Corzine, MF Global Holding Ltd.’s chief executive officer, gave “direct instructions” to transfer $200 million from a customer fund account to meet an overdraft in one of the brokerage’s JPMorgan Chase & Co.
accounts in London, according to an e-mail sent by a firm executive.
Edith O’Brien, a treasurer for the firm, said in an e-mail sent the afternoon of Oct. 28, three days before the company collapsed, that the transfer of the funds was “Per JC’s direct instructions,” according to a copy of a memo drafted by congressional investigators and obtained by Bloomberg News.
O’Brien’s internal e-mail came as the New York-based broker found intraday credit lines limited by JPMorgan, the firm’s clearing bank as well as one of its custodian banks for segregated customer funds, according to the memo, which was prepared for a March 28 House Financial Services subcommittee hearing on the firm’s collapse. O’Brien is scheduled to testify after being subpoenaed this week.
“Over the course of that week, MF Global’s financial position deteriorated, but the firm represented to its regulators and self-regulatory organizations that its customers’
segregated funds were safe,” said the memo, written by Financial Services Committee staff and sent to lawmakers.
Vinay Mahajan, global treasurer of MF Global Holdings, wrote an e-mail on Oct. 28 that said JPMorgan was “holding up vital business in the U.S. as a result” of the overdrawn account, which had to be “fully funded ASAP,” according to the memo.
O’Brien Letter
Barry Zubrow, JPMorgan’s chief risk officer, called Corzine to seek assurances that the funds belonged to MF Global and not customers. JPMorgan drafted a letter to be signed by O’Brien to ensure that MF Global was complying with rules requiring customers’ collateral to be segregated. The letter was never returned to JPMorgan, the memo said.
The money transferred came from a segregated customer account, according to congressional investigators. Segregated accounts can include customer money and excess company funds.
Corzine testified that he never intended a misuse of customer funds at MF Global, and that he doesn’t know where client funds went.
“I did not instruct anyone to lend customer funds to anyone,” Corzine told lawmakers in December.
Steven Goldberg, a spokesman for Corzine, declined immediate comment.
$1.6-Billion Shortfall
The bankruptcy trustee overseeing the liquidation of the company’s brokerage subsidiary has estimated a $1.6-billion shortfall between customer claims and assets available.
Lawmakers and investigators from the Commodity Futures Trading Commission, Securities and Exchange Commission and Department of Justice have been reviewing events leading up to MF Global’s bankruptcy filing. Executives including Corzine, a Democrat who served in the Senate before he was elected governor of New Jersey, gave testimony on the collapse at three congressional hearings last year.
Third Hearing
Representative Randy Neugebauer, a Texas Republican, will hold the third in a series of hearings into the firm’s failure.
Neugebauer, the chairman of the Financial Services oversight and investigations subcommittee, will release a final report on his investigation into the firm’s failure.
MF Global and its brokerage, MF Global Inc., sought Chapter
11 bankruptcy after a $6.3 billion bet on the bonds of some of Europe’s most indebted nations prompted regulator concerns and a credit rating downgrade. Corzine quit MF Global Nov. 4.
O’Brien, who was subpoenaed by lawmakers this week to testify at the hearing on the final week before the New York- based futures brokerage’s failure, was identified by Corzine as someone with knowledge of a transfer of funds from customer accounts before the firm sought bankruptcy protection Oct. 31.
CME Audit
Reid H. Weingarten, O’Brien’s lawyer, did not immediately respond to a phone call and e-mail seeking comment.
The memo’s account of the e-mail exchanges aligns with what Terrence Duffy, the executive chairman at CME Group Inc., told lawmakers during a December congressional hearing. Auditors at CME, which had authority to oversee MF Global, learned from an employee of the brokerage that Corzine knew about the loans involving a European affiliate, Duffy told committee members.
O’Brien is scheduled to appear before lawmakers with Christine Serwinski and Laurie Ferber, two other MF Global executives named by Corzine as being involved in the transaction, according to the memo. Henri Steenkamp, the firm’s chief financial officer, is also scheduled to testify, as is a representative from JPMorgan who has not yet been identified.
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