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Post by Entendance on Jan 2, 2023 9:38:04 GMT -5
The COVID phenomenon cannot be understood without understanding the un-televised 2019-2020 unprecedented financial collapse threatening the entire global financial system.
The Covid-19 Pandemic story makes little sense when viewed through the lens of health, safety and science. Viewed through the lens of money, power, control, and wealth transfer, however, then all of it makes perfect sense...COVID-19: A Global Financial Operation
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Post by Entendance on Jan 4, 2023 3:15:24 GMT -5
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Post by Entendance on Jan 10, 2023 9:28:24 GMT -5
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Post by Entendance on Jan 16, 2023 11:12:51 GMT -5
'Remember those Fed bailouts of the mega banks on Wall Street during and after the 2008 financial crisis that the Federal Reserve battled in court for years to keep secret from the American people? Those bailouts went to the same Wall Street mega banks that collapsed the U.S. economy with their unbridled greed and unchecked corruption. The banks were even allowed to pay big bonuses to their execs with the bailout funds.
Well, bailouts for wayward banks are back in style in a big way...'
List of Global Systemically Important Banks G-SIBs
Repetita iuvant: Gold, the only kind of money that isn’t someone else’s liability and dependent on others’ financial soundness. Gold has a self-intrinsic value not contingent on someone else's mere promise to pay. Thus, Gold in its physical form is still the ultimate form of financial insurance.
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Post by Entendance on Jan 23, 2023 2:03:17 GMT -5
  '...For those who don’t know the background or have forgotten, recall that it was Deutsche Bank’s abrupt and suspicious departure from the London precious metals markets 9 years ago in January 2014 that actually led to the collapse of the old London Gold and Silver Fixings, as well as the sleight of hand switcheroo replacement of these Fixings with the ‘same old wine in a new bottle’ in the guise of the current LBMA Gold Price and LBMA Silver Price auctions.
This unraveling of the old Fixings then triggered the rest of the bullion banks to flee the sinking Fixings ship, which subsequently precipitated class action suits against Deutsche and its bullion bank peers, as well as US Department of Justice prosecution against Deutsche and other bullion bank traders for precious metals price manipulation...' Ronan Manly: Longtime gold market crook Deutsche Bank wants back in the LBMA
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Post by Entendance on Feb 5, 2023 2:23:59 GMT -5
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Post by Entendance on Feb 12, 2023 2:38:15 GMT -5
JP Morgan reaches agreement with Ukraine's Zelenskyy
Rubino thinks the economy is so weak, with so many different financial bubbles, that one bubble pop could bring the entire system down rapidly. Rubino says look out for big European banks to go insolvent as a warning sign of trouble if the trillion-dollar derivative complex blows up. |
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Post by Entendance on Feb 14, 2023 6:50:34 GMT -5
Silver is a critical metal for industry. It is one of the only two metals that have consistently been seen as money. The U.S. has exhausted its strategic silver stockpile, but one bank is accumulating millions of ounces. Andy Schectman, CEO and president of Miles Franklin, says silver is the value play of a generation, and the bank's traders know this.
BlackRock, Vanguard, and JPMorgan are the biggest stockholders of Norfolk Southern, the train operator that crashed in Ohio, that’s why there has been a major media blackout on the toxic chemical disaster.
They’re actually telling people the water is safe…
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Post by Entendance on Feb 18, 2023 12:43:52 GMT -5
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Post by Entendance on Feb 25, 2023 8:08:00 GMT -5
What Will Happen When Banks Go Bust?
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Post by Entendance on Feb 27, 2023 14:00:45 GMT -5
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Post by Entendance on Mar 1, 2023 1:52:30 GMT -5
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Post by Entendance on Mar 2, 2023 3:20:58 GMT -5
The banking situation
'...Central banks are in this mess too deep to somehow unearth a conventional solution. They are meant to be the ultimate backstop for their banking systems in a crisis. Yet the Fed, the ECB, and the BoJ are themselves in a solvency crisis of their own making. An acute embarrassment for the Fed perhaps, but far more serious for the other two. And in the case of the ECB, we can rule out a rapid recapitalisation because of the structure of the euro system and unexplained TARGET2 imbalances.
Lulled into a false sense of security, these central banks misread the consequences of their own credit expansion, not realising the damage they were doing to the purchasing power of their currencies and ultimately themselves. Even before Russia’s invasion of Ukraine, producer and consumer prices were beginning to rise, dismissed as a transient trend. We were told that inflation would return to the two per cent target and now we were told it will take just a little longer.
Monetary policy has the worst possible mistake for the authorities to make, and with negative interest rates still enforced by the BoJ, Japan is still catastrophically in denial. And official forecasts by bodies such as the UK’s Office for Budget Responsibility, and the US’s Congressional Budget Office still persist in telling us that inflation will return to the 2% target, when the evidence strongly suggests otherwise. Market participants who are perennially bullish want to believe in these forecasts. But bond yields are rising again, particularly in Japan and the Eurozone which started from a negative interest rate baseline...'
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Post by Entendance on Mar 5, 2023 3:14:55 GMT -5
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Post by Entendance on Mar 6, 2023 9:21:14 GMT -5
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Post by Entendance on Mar 9, 2023 14:56:29 GMT -5
Mar 9, 2023  Alasdair Macleod: It's sliding towards either WW3 or gold
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Post by Entendance on Mar 10, 2023 5:07:45 GMT -5
...Silvergate had made the fatal decision several years ago to become the go-to bank for crypto companies, including scandalized Sam Bankman-Fried’s collapsed house of frauds...Now, for the second time in less than two weeks, depositors are panicking over the fate of another federally-insured bank...
...The Federal Deposit Insurance Corporation (FDIC), whose Deposit Insurance Fund (DIF), has to make good on deposits at insured U.S. banks in the event of a bank failure, noted in February that unrealized losses at U.S. banks for bond holdings totaled $620 billion at the end of the fourth quarter of last year. When interest rates rise, as they have dramatically over the past year, the current market value of bonds issued at lower locked-in interest rates fall. That is typically not a problem for banks – unless there is a stampede by depositors to get their money out of the bank and the bank is forced to sell the bonds at a loss to raise liquidity.
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Post by Entendance on Mar 10, 2023 17:54:34 GMT -5
Meanwhile...  '...if gold is undervalued in the Global North, it would gradually, or perhaps rapidly, gravitate to the Global South in exchange for exports or newcoin, which would not be a bad outcome for the “external money” system and accelerate the broad acceptance of newcoin as reserve currency. Importantly, as physical gold reserves are finite outside of the newcoin zone, the imbalances would inevitably correct themselves, as the Global South will remain a net exporter of key commodities.'Moveable Multipolarity in Moscow: Ridin’ the ‘Newcoin’ Train |
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Post by Entendance on Mar 11, 2023 12:51:02 GMT -5
BANK FAILURES STRIKE AMERICA - and the collapse will spread
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Post by Entendance on Mar 12, 2023 17:32:29 GMT -5
 Zakharova: 'Every child can explain how the US authorities will ‘support the stability of the banking system’ – with paper and paint. They will print even more unsecured dollars then they will cause even more problems in the world.'
'...pledge collateral at par, not at market value, thus giving banks credit for all those hundreds of billions in unrealized net losses, and allowing banks to “unlock liquidity” based on losses which the Fed and TSY now backstop!'
'...So, no, we hardly think the commercial banking system, the massive and compounding risks of which we have reported for years, is anything remotely healthy, safe or credible.
All frowns and inevitable (yet increasingly empty) gold-bug critiques notwithstanding, we think holding a physical bar of segregated, allocated and non-levered gold in one’s own name in the world’s safest private vaults and jurisdictions makes a lot more sense than trusting your increasingly worthless paper or digital money to the world’s increasingly fractured banks, be they SVB, Credit Suisse or JP Morgan...'
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Post by Entendance on Mar 13, 2023 17:37:52 GMT -5
The more they say they are working to make sure there won’t be any contagion,
Experts agree that confidence in Lebanon's national currency — which has lost 98% of its value — will not be restored...
If you want to genuinely understand why Silicon Valley Bank (SVB) failed and why Jerome Powell’s Fed led the effort yesterday to make sure $150 billion of the bank’s uninsured depositors’ money would be treated as FDIC insured and available today, you need to take a look at how the bank defined itself right up until it blew up on Friday...
U.S. banks have unrealized losses of $620 billion, FDIC says
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Post by Entendance on Mar 16, 2023 3:54:41 GMT -5
 There is never just one cockroach. Unfortunately, cockroaches are not loners. If you see one, there are likely many more that you can't see. There’s never just one cockroach in the kitchen.
Key bad guys in the Silicon Valley Bank saga are at the Federal Reserve. It's time to end the era of central bank supremacy and fire the Fed as our most important bank regulator.
Can the blind lead the blind? Will they not both fall into a pit? -Luke 6:39
 The bank run snowball continues to roll down the mountain, gaining in size and speed as the days go by.
The only way to win the game is not to play the game.
EntendanceInvestors are already out of the system, what about you?
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Post by Entendance on Mar 18, 2023 6:05:41 GMT -5
14 years ago, the Obama administration (or rather his Wall Street lackey Steve Rattner) turned the bankruptcy process on its head with the Chapter 11 filing of General Motors, which steamrolled the bankruptcy liquidation waterfall by paying off the underfunded (and unsecured) pension plans of GM and Chrysler union workers at 40 cents on the dollar, while cramming down secured creditors, forcing them to accept 29 cents on the dollar in recovery.
On Sunday, something similar happened with Credit Suisse when, much to the shock of Europe's $275 billion Additional Tier 1 market, some $17BN in Credit Suisse AT1, aka Contingent Convertible, bonds were wiped out even as equity holders received over $3 billion in consideration from UBS courtesy of Swiss taxpayers who ended up footing billions in contingent liabilities... European Regulators Rush To Calm AT1 Investors After Credit Suisse Wipeout Shock
A merger with UBS would be a bad idea. It would only postpone the crisis and potentially spill it over to the entire Swiss banking system, resulting in thousands of job losses.
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Post by Entendance on Mar 20, 2023 6:29:38 GMT -5
There is never just one cockroach. Unfortunately, cockroaches are not loners. If you see one, there are likely many more that you can't see. There’s never just one cockroach in the kitchen.
UBS Was Quietly Bailed Out in 2008; Now It’s Getting a $173 Billion Backstop to Buy Credit Suisse at 82 Cents a Share
Counterparty Risk
Gold It’s Independent.
It’s not anybody’s obligation. It’s not drawn on anybody.
Gold, the only kind of money that isn’t someone else’s liability and dependent on others’ financial soundness.
Gold has a self-intrinsic value not contingent on someone else's mere promise to pay.
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Post by Entendance on Mar 22, 2023 3:24:28 GMT -5
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Post by Entendance on Mar 24, 2023 15:56:31 GMT -5
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Post by Entendance on Mar 28, 2023 2:17:29 GMT -5
 '...The collapse of the Soviet Union gave Washington the opportunity to lead the world on a path of peace and economic development. But the neoconservatives could not resist their attempt for world hegemony and launched twenty-five years of war. Wall Street and corporate executives with eyes on bonuses could not resist deindustrializing the US by locating US manufacturing offshore, thus boosting Chinese economic growth instead of American economic growth. These major failures indicate the total failure of US policymakers.
The repeal of the Glass-Steagall Act in the closing days of the 20th century launched the US into the 21st century on a path of financial instability. Nothing has been done to correct this, and nothing has been done to correct the offshoring mistake or the failure to control the supply of government debt. As countries move away from using the dollar to settle international transactions, a dollar glut will result in US inflation and declining American living standards.
Discussing the seriousness of our country’s situation with Michael Hudson, it is difficult to find hope. To admit that mistakes are being made implies acknowledging that we are on the wrong path and that China, Russia, and those governments aligning with them are on a better course, using their banks for financing industrial wealth instead of acting as brokerage casinos and dealing in financial arbitrage and debt leveraging. No American policymaker will risk being asked “why do you support the policies of Xi and Putin?” That they, and not us, have the right policy is not a permitted thought.' Why the Dollar-based International System Is Breaking Up
The Senate Inquisition Fried the Bank Regulators Over EASY
 The problem with bailouts has always been propping up bad banks.
The Banking Crisis Knock-On Effect Has Been a Stampede into Government Money Market Funds |
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Post by Entendance on Mar 31, 2023 2:45:52 GMT -5
 ...As of December 31, 2022, Silicon Valley Bank had $175 billion in deposits. On the same date, Signature Bank held $88.6 billion in deposits. Now compare that to the whales on Wall Street: As of December 31, 2022, this is where deposits stood at the four largest banks in the U.S. – all of which also have large risk exposure from their extensive trading operations on Wall Street: (The data comes from federal regulatory filings known as “call reports.”)
JPMorgan Chase Bank N.A. held $2.015 trillion in deposits in domestic offices, of which $1.058 trillion were uninsured.
Bank of America held $1.9 trillion in deposits in domestic offices, of which $909.26 billion were uninsured.
Wells Fargo held $1.4 trillion in deposits in domestic offices, of which $721.1 billion were uninsured.
Citibank N.A. (parent, Citigroup) held $777 billion in deposits in domestic offices, of which $598.2 billion was uninsured. But…wait for it…Citibank also held a staggering $622.607 billion in deposits in foreign offices – of which, potentially, nothing was insured according to current law and rulemaking. That would bring total deposits at Citibank in both domestic and foreign offices to $1.4 trillion with potentially only $178.8 billion FDIC insured – or 13 percent. (We have sought clarification on this from the FDIC and will update this article when we receive a response.)...
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Post by Entendance on Apr 1, 2023 4:01:35 GMT -5
Significant events in the 2000s created by fallacious Central Bank policies:
2000-2 Market collapse: Tech stocks down 80%
2006-8 Subprime banking crisis: Dow down 54%, massive money printing
2009-21 Stocks & asset markets exploding: Dow up 6X, Nasdaq up 16X
2006-20 Manipulation of rates: US 10yr treasury down from 5.4% to 0.5%
2000-23 US Debt explosion: Up 3.5X from $27t in 2000 to $95t in 2023
2000-23 Global debt explosion: Up 3X from $100t in 2000 to $300t in 2023
2020-23 Real inflation US EU: Up from 0% in 2020 to 10%+ in 2023 The extreme moves and volatility exemplified in the table above has nothing to do with free markets.
They are the manifest consequences of shameless manipulation of markets and market conditions by Central Banks. Such extreme moves could never happen if markets followed nature’s laws and the laws of supply and demand...
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Post by Entendance on Apr 3, 2023 10:28:06 GMT -5
There are two ways to be fooled. One is to believe what isn't true; the other is to refuse to believe what is true.
-Søren Kierkegaard
'...Excluding the banking crisis related to the COVID-19 pandemic in 2020, Americans now find themselves in Banking Crisis 3.0 with a new Fed bailout program called the Bank Term Funding Program (BTFP). That program came on the heels of the second and third largest bank failures in U.S. history in March: respectively, Silicon Valley Bank and Signature Bank, both of which are now in FDIC receivership...'
JPMorgan batters the Gold price againA major development last week was the large amount of gold issued by JPMorgan over the first two days of the Comex April contract. Total gold deliveries by JPMorgan of 14,326 contracts, including 10,682 contracts (1.07 million ounces) by JPM from its proprietary house account were the largest by JPM in history.This is big news because it demonstrates clear and blatant price manipulation by JPMorgan. With more than 19,000 contracts of gold standing for delivery, what would have been the price of gold had JPM not delivered more than 10,000 contracts from its house account?... JPM Again
Dear Friend of GATA and Gold:
Pam and Russ Martens note that JPMorganChase Bank holds 53% of all the monetary metals derivatives contracts in the U.S. banking system, through the bank and some of its traders have been criminally charged with rigging the monetary metals markets.
The Martenses write: "It is hard to understate the regulatory failure of allowing JPMorgan Chase to continue to have this outsized presence in the precious metals derivatives market."
Well, yes and no. For it's not hard to understand the regulatory failure. It is almost certainly a matter of law -- a matter of JPMorganChase's operating as the agent of the U.S. government in surreptitiously controlling gold and silver prices to protect the value of the U.S. dollar and U.S. government bonds.
This rigging is completely legal, since the U.S. government is authorized by the Gold Reserve Act of 1934 and related legislation to intervene in and manipulate any market in the world.
The Martenses long have done tremendous investigative reporting about corruption and unfairness in the financial system. So maybe they won't resent a suggestion for a little more such reporting.
That is, how about pressing the U.S. Commodity Futures Trading Commission as to whether it has jurisdiction over manipulative futures trading undertaken by or at the behest of the U.S. government?
That question has been put to the CFTC by both GATA and U.S. Rep. Alex X. Mooney, R-West Virginia, and the commission has refused to answer:
www.gata.org/node/19917
www.gata.org/node/20089
Of course that refusal is almost as good as an admission that JPMorganChase rigs markets for the U.S. government, but not quite.
Twenty-two years ago in U.S. District Court in Boston, seeking dismissal of GATA's lawsuit accusing the U.S. government, JPMorganChase, other bullion banks, and the Bank for International Settlements of surreptitiously rigging the gold market, an assistant U.S. attorney told the court that the government had the power to do exactly what the lawsuit complained of:
gata.org/node/4211
The assistant U.S. attorney did not admit that the government was doing what the lawsuit complained of, but the government's claiming the power should have provoked a little journalistic curiosity. It still should. Of course no such curiosity has yet been demonstrated by mainstream financial news organizations.
So if you want to know why the government lets JPMorganChase get away with so much of what seems like criminality, it's because in certain circumstances JPMorganChase is the government and the government is JPMorganChase, and while what they do together may be immoral and concealed, it's perfectly legal -- just as the biggest scandals usually are.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
Only physical demand can free us from the bondage of the criminal bullion banks.
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.JPG)
"It's the banksters again!"
Don't worry, 
Swiss National Bank posts record 
Euro Inflation without Energy Hits Record, Services CPI Hits Record. 
The evolution of 
Global Debt & Death Spiral – 
Global Debt & Death Spiral – 
Lebanese banks liable for financial collapse claim 
The Bank Collapse Will Spread 
Silicon Valley Bank 
Two Fed-Supervised Banks Blew Up Last Week; Two More Dropped Over 40 Percent Yesterday; 
Credit Suisse and UBS 
Gold Storage in Banks? 
We will all be WITNESSES to 
.jpg)
The Fed Should Be Fired as Bank Regulator. 
.JPG)
E. 
Market Report: 
Why the Panic
