© Copyright 2007-2024 iBankCoin All rights reserved under penalty of bodily harm. DISCLAIMER: This is a personal web site, reflecting the opinions of its author(s). It is not a production of my employer, and it is unaffiliated with any FINRA broker/dealer. Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities. DATA INFORMATION IS PROVIDED TO THE USERS "AS IS." NEITHER iBankCoin, NOR ITS AFFILIATES, NOR ANY THIRD PARTY DATA PROVIDER MAKE ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND REGARDING THE DATA INFORMATION, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. Privacy Policy
Name one scandal that the SEC or CFTC have EVER prevented? How is it possible that the SEC and CFTC NEVER manage to ever find this stuff in the New York banks that they regulate?
The twist about MF is they were using client funds to trade themselves, I would like to know, how can these institutions do this and nobody picks it up until it’s too late?
The rules always get changed, or money gets stolen or both when the ponzi scheme “ends” (usually a new one begins)
Social security and medicare plus 2 wars were many of the costs that made the gold standard unsustainable. So when the spending got out of control and the free market forces started to come due and the US was bankrupt, owing more gold than they had by 10:1, they changed the rules and said “we will not pay you in gold” and “it’s temporary”.
What happened before when the US was in trouble? They forced everyone to sell their gold (FDR) and created Fort Knox to store it. What happened before that? Gold was stored, and paper receipts were made and when people started using the paper receipts they debased the money supply by printing more receipts than they had gold. Then they changed the rules and replaced it with appear. Then they created the elastic money supply to print more when there was a run on the banks because they didn’t have all of the cash “in savings”.
Greece doesn’t “default” because they don’t want to pay the “default” event on the CDS market, so they take a 50% haircut and say it’s not a default. The CDS gave
false insurance relief, but now when people expected to cash in, the banks change the rules.
You think a gold standard is the “end” of ponzi scheme’s? It’s just the start of the new one. What do you do about the previous debts? Probably pay them off in gold, and who gets that money and how? So all the old debts the government tried to inflate away with spending now gets paid in gold? What happens when everyone wants physical delivery of the metal and you don’t have enough in it’s vaults? Another force majure? Once that is done, the government will just spend away again, and start paying a few people in gold to make it look good. Perhaps even unloading all of the gold to special interests, central bankers, etc… And when the government comes up broke they will want your gold and money, and then they will spend to fend off the deflation from all the people wanting the gold and the commoner not having the gold or paper version. Then when they can’t get their spending under control, they will simply close the gold window again. Let’s be honest, it will be a ponzi scheme after ponzi scheme in an endless cycle. The ones that get caught will simply be their competition. But what’s at risk of being confiscated now?
History repeats,
if they went to a gold standard it would be most likely they would reevaluate to $10-$15k per oz and thus inflate that debt away…
the ownership of your life is what is at risk. you are essentially a debt.
So if we owe someone $100M in debt and have allocated $20M in gold towards them, rather than say we owe them 10,000 ounces of gold (value at $2000 an ounce), we say we owe them 2000 ounces of gold (Value at $10,000 an ounce)?
So the bond holder takes an 80% haircut when measured in gold?
*measured in ounces of gold
or perhaps collateral
Can anyone comment on how JP Morgan uses MF Global’s money? Wouldn’t that information be available somewhere? If JP Morgan increased the amount in their physical vaults, wouldn’t we see a decrease in other assets if they didn’t steal it or no decrease if they did? Or is the information not that transparent and somehow they can falsify their P+L?
the accounts that were waiting in line to take physical possession of gold and silver were robbed by jp morgue. the dollar amount of physical that went into jp morgues vault, was the exact amount of money missing from mofo global. jp morgan and gs conduct business with FULL AUTONOMY from the law. they just got done proving it.