-- Posted Friday, 1 November 2013 | | Disqus
Many analyst writers choose the Black Swan analogy to describe deeply ominous events in progress, with little forward notice. The analogy simply does not fit anymore, as an armada of black swans is more appropriate, spotted on regular and frequent sightings. The Jackass preference is to describe a series of major cracks in the financial fortress that defends the USDollar system and its decrepit USTreasury Bond shuttle buggy. The vehicle is overloaded with supply and bereft of investors, upheld by a printing press, explained by pure heresy. Its derivative coil on the undercarriage axel system is broken from the overdone leverage and hidden machinations. The integrity of the USD/USTB brand name was cast off the American coat of arms along with the Lehman Brothers killing to save Goldman Sachs, the adoption of Fannie Mae to conceal the fraud, and the AIG to contain the derivative payouts. The October Hat Trick Letter explains the Wall Street saga behind the scenes on the GSax rescue, managed by the USDept Treasury office. The US financial fortress died in September 2008, when the Jackass made the USGovt debt default forecast. What has happened in the following long five years has been an incredibly prolonged and desperate attempt, its creativity recognized, to extend life support to a corpse beset by necrosis and sclerosis, whose blood has turned toxic, lacking any oxygen (capital). The US nation has lost its way, no longer capable of comprehending capitalism. Its policy initiatives actively destroy precious capital on the banker altar, celebrating the dark side with celebrations of fire. The emaciated body economic is being prepared to be handled by the JPMorgue for processing.
Poorly informed foreign observers have a very difficult time coming to grips with the death of the King Dollar. It is pushed by far worse than a Zombie Mule Team. Its USD/USTB team is a marauding killer of banking systems, destroyer of capital, and wrecking ball of economies. The legitimacy of the global reserve currency is not found in a proper seal or exotic filament or ornate watermarks. It is found in a valid foundation in gold reserve, a sound economy on firm foundation, and a management team upholding integrity. The USDollar and USTreasury Bond has none of the above. It is the abused currency with bond vehicle exploited by a criminal banking organization whose roots are the same as the nazis. Credit goes to their ilk for better concealment of their identity and family bloodline. Their signature is stolen gold, bond fraud, war and genocide, with a penchant for control as a chaser.
Some readers might believe that my public warnings are exaggerated, as a national condition is described with hyperbole. Not so, Cabo!! The American citizens have seen their home equity largely depleted, long regarded as their inflation hedge. Now they have none. The same citizens have seen their pension plans largely depleted, long depended upon for future retirement income. The same citizens have seen their Social Security Trust Fund ransacked, long depended upon for basic future financial support. The same citizens have been treated like criminals for association with Occupy Wall Street, the billyclub wielded by the FBI. The same citizens have been subjected to a long list of Executive Decrees, which gut their civil liberties and bill of rights, long regarded as the bastion of freedoms. The same citizens have been victimized by banker fraud, protected by the Too Big To Fail mantra. The same citizens have been exploited by the military industrial complex in predatory wars and narcotics vertically integrated business, their bodies mere cannon fodder, their coffins filled with heroin, the suicide rate extreme among soldiers due to stress and rape. The same citizens were recently exposed to false flag events in Syria, where the chemical weapon perpetrator is a US ally with home on the Persian Gulf. The same citizens are now exposed to chemtrail toxic atmospheric lacing and Pacific radiation, thus the air and water gradually unfit for habitation and nourishment. So conclude the exaggerations are perhaps on target. Beware the Warsaw Factor mixed with the Stockholm Syndrome, which will not be explained. Do the research. The safety valves are gold & silver ownership and a ticket off the USS Titanic. The golden lifeboats are in short supply. Actually they have been in short supply for two years, their shortage more acute with each passing month.
DEAD USDOLLAR & USTREASURY BRAND
The USD/USTB brand is dead. The big questions that remain are 1) how the brand will be declared dead, 2) what new currencies will appear with proper asset backing, 3) what form the Gold Standard will return, and 4) whether its criminal helm will face prosecution for fraud, counterfeit, sweetheart loans, and money laundering. The answers are slowing being revealed. But before making conclusions on these key overarching questions, consider the cracks in the financial fortress. Each alone is devastating, but together they describe a wrecked castle that is fast crumbling, the fallout victims to be legions. The world has not only begun to notice, but rather made plans to defend from the fallout. The National Socialist bankers will not go quietly into the night. They will steal everything in their path with full impunity. They will continue to wreck the planetary integrity. They will continue to construct their underground cities. They will continue to wage wars both for supply line preservation and for obstruction of progress toward alternative pathways. The blowback has been impressive and far reaching. The prestige of the US nation is gone. The reputation of the King Dollar is gone. The beacon of capitalism is gone. What remains is the details of the collapse, the fallout from the impact, the extent of the resulting craters. As the USD/USTB brand fades away, the Third World awaits the once great nation. The price inflation, supply shortages, and civil disorder will echo the financial criminality, the vacated wealth, and the aggressive war stance, as severe hardship and massive disruption is guaranteed.
US LEADERSHIP VANISHED
Many are the big ugly wild cards. Note the Afghan heroin industry and distribution across the NATO bases, the clearinghouse functions managed by JPMorguen via the Iraqi Export Bank in Baghdad. Note the pilfered US Gold reserves from Fort Knox by the Clinton-Rubin Admin, both revered men. Note the staged events on 910+1, complete with hidden coup d'etat. Note the Snowden files to reveal criminal deeds at the US Helm, the man labeled a traitor. The defensive tactics have turned more desperate and often border on the edge of amusing. In 2002, certain officers who attempted to reveal the sequence of events and the culpable parties from the big event the previous year were smeared with child pornography accusations. Memories fade. Few recall the Anthrax threat to the Congressional ventilation systems just before the Patriot Act passage, the threat as courtesy by the FBI. In general, the opponents to the fascist core axis are declared terrorists. The accusers are nazis deeply engaged in financial terror, war crimes, bond fraud on $trillion scale, central bank gold thefts, bond counterfeit, theft of large funds, murder to defend the fortress, with a cake that bears treason as icing.
The last three US Presidents have refused to submit to the USCongress their medical records, as required by law. The details of their narcotics addiction would not sit well with the American public or even naive Congressional members. Authority might not be followed. The world is watching. The world has identified the problem. The world has fingered the USDollar as the toxic paper, the USTBond as the acid element in their banking systems, and the US Bankers as the criminals in the room. The nations of the world have made grand strides in rallying behind China & Russia. The former has made a direct challenge to the US in global financial leadership. The latter has been making direct challenge to the US in global military leadership. The swing vote lies with the Saudis, who always hide behind daddy's cape, whatever nation will provide them cover for their multi-$billion thefts of national resources with pacification via bond recycling.
PETRO-DOLLAR FINAL DEATH THROES
The Saudis find themselves alienated from their US protector. They find themselves at friction-filled odds with Russia. They will find some measure of safe haven behind the Chinese cape. The Saudis are busily making their pivot to China. Note the large petro-chemical project begun last year near the Red Sea. The entire Arab Spring movement is a direct assault upon the Arab world, whose nations one after the other are run by autocrats better described as benevolent dictators. The USGovt strategy to spread democracy is intended to disrupt the royals sitting upon peacock thrones, as much as to dislodge valuable resources. In North Africa the objective was to derail the planned European development with new industries, equipped with roll-off port facilities, run by cheaper skilled Arab labor. In the rest of the Arab MidEast, the objective has been to let loose a band of Keystone Cops that unseat the House of Saud itself in a most bizarre sequence of events. The overthrow of Mosni in Egypt required a huge financial assist by the Saudis, hardly a team effort with the Obama Admin clown show. The retreat from Syria has angered the Saudi Royal family in unspeakable terms. They have responded by threatening the shutdown of US Embassies in Saudi Arabia. Hidden in the many conflicts are the Pipeline Politics, which the USGovt cannot afford to reveal. Doing so would make crystal clear its ulterior motives, its weakened position, and the rise of the Natural Gas Coop led by the Russian Gazprom giant. Revealing the fading power of OPEC as the Saudi weapon to enforce the King Dollar scepter would accelerate the Dollar Alternative movement led by the Eastern Alliance. The Syrian War was all about blocking the completion of the Shiite Gas Pipeline from Iran. The US could not stop the Iran-Pakistani Gas Pipeline. The weakness of the USDollar will be made evident by the strangle of natural gas pipelines, mostly run by Gazprom. The US lost the Pipeline Wars to Russia long ago.
The Western population is slowly coming to grips with the rise of the Shiite majority in Iraq. Yes, the United States lost the Iraqi War. Yes, the United States will soon have lost the Afghan War, except for the heroin booty. Valued at over $800 billion in narco profit annually, it has been the big prize on the battlefield supported by soldier blood & guts. At an estimated $6 trillion all-in war cost, thank the Bush II Admin for another folly that equals one third of the national debt. The great turning point for the Global Dollar Politics lies in the massive changes underway with the Petro-Dollar. The Saudis urgently seek a new protector for the Persian Gulf. It will be China to wear the cape. The Saudis will soon announce acceptance for oil payments in Euro terms, in Yen terms, in British Pound terms, and most important in Chinese Yuan terms. The effect will be felt like a gigantic crash impact of a 7-story building hitting the ground, marking the Death of the Petro-Dollar. It has served as the foundation for the USDollar for 40 years, since the Arab 1973 Embargo. The resolution involved a grand pact, engineered by Kissinger. It called for recycling Arab Oil Surplus into USTreasury Bonds, used to fill the many national banking systems across the world. The unraveling of the Petro-Dollar standard will bring about colossal reformation of the many national banking systems. They will ditch the USTBonds in favor of a mix of Chinese Yuan and Gold bullion. Later the same Yuan will become partially gold-backed. Game over for the King Dollar!
EXPORTED MONETARY INFLATION
The global resistance movement is accelerating with tremendous speed. Back in 2009, the Jackass stated that the first nations to depart the USDollar system would emerge as the leaders of the Next Chapter for the New Paradigm. The warning was that nations would find themselves in an urgent situation whereby maintaining the current USD/USTB system would bring about a death of their currency, bonds, banks, and economies. Conforming and adhering to the King Dollar allegiance would be a death sentence. In the last few months, since the retreat from the Taper Talk by the USFed, since the full outward adoption of QE to Infinity and ZIRP Forever, the world has come to conclude that the Reign of the King Dollar is over. They are noticing the collapse of the current system, due to continued hyper monetary inflation and full dependence on phony money, complete with amplified dispensation to the banker elite.
Alternatives to the USDollar are well along in design, approaching implementation for commerce, wherein the Gold Trade Standard will be installed. The impact waves will be powerful, sweeping aside the fiat paper currencies and their flimsy sovereign bond reinforcement, an implied foundation of debt. Never can a monetary system rest upon a debt foundation without a near complete destruction of capitalist systems. The hyper monetary inflation that has emerged as consensus central bank policy has resulted in global capital destruction, due to rising cost structure, a direct consequence of chronic monetary inflation of the exported variety. Monetary inflation kills capital. Exported monetary inflation kills foreign capital. The Jackass has challenged the clueless cast of economist hacks to rebuttal, but not a word has come. The QE to Infinity policy, with its rancid wreckage from ruinous bond monetization, is the epitome of capital destruction. The Keynesian School has presided over a ravaged field. The Von Mises School of sound money, of asset backed monetary systems, or Gold reinforced trade systems, will take over from the mad professors, the criminal bankers, and the narco dripped militarist hands.
USGOVT OFFICES SHUTDOWN
It seemed like a comedy, a bad joke. The Obama Admin appeared to intentionally force a shutdown of the USGovt, even if temporary. An element of farce and lunacy prevailed. Black Swans were spotted swimming around the White House moat. The shutdown actually cost more than it saved, due to startup re-initializations of queer systems. From a perspective 3000 miles (5000 kms) south, the entire sequence of events appeared orchestrated by a hidden hand, to satisfy an ulterior motive, even to conduct a strange test. As the world watched in dismay and horror, the USGovt did shut down many offices and ports and parks. The incompetence of the political bodies was laid bare for all to see, the usual battle of entitlements versus taxes on the main. It was the socialists versus the communists actually, which never results in compromise. See history with Hitler versus Stalin. Sorry, forgot that Americans do not read history, study history, or learn from history. Evidence is the revered Weimar Printing Press usage, the adulation from financial market dependence, the taxation to oblivion, the repeat of the British folly and Soviet folly in Aghanistan.
The USGovt shutdown offered an unusual glimpse, much like a trial balloon, to test the reaction across the world. It was like the captain of the USS WhiteHorrHouse taking initial measures to scuttle the ship, just to see if anyone would jump in reaction, or retreat in horror, or notice at all. The Jackass gut tells me that the Chinese ordered the temporary shutdown in order to fine tune with delicate calibration many specific systems, which required a legal default on the books, although temporary. They wanted to conduct a test, to determine the reaction within the most complex financial contraption ever devised by man, the USTreasury Bond market. Its tentacles include the USTBond futures, the TNX options, the Interest Rate Swap contracts, the derivatives from the REMICs, the USAgency Bonds, the FOREX swaps, the Social Security Trust Fund, all coming under the Exchange Stabilization Fund umbrella. Nobody can adequately predict the effects within such a complex obscene twisted system built by mad professors and criminal minds, replete with back doors for presidential thefts. So the Chinese ordered a test. My joke recently has been that China lacks rainwater, no longer a secret. They have dried rivers that used to supply Beijing its water. Their arid land does not receive adequate rainfall. So China plans to convert its USTBonds and USAgency Bonds into water, by calling on their amplified liquidity characteristics.
REPO MARKET BROKEN
A trial run for default could very possibly have been staged. The critical point of fracture and breakdown lies in the REPO Market. It is little known, little followed, and little understood. It serves as the vast overnight liquidity supply engine. Bear in mind that insolvency plus illiquidity equals bankruptcy. Translate to mean that the many important insolvent systems (big banks, government debt finance), if subjected to a sudden bout of liquidity halt, would be quickly thrust into a situation where failure and bankruptcy could result. The critical REPO Market suffered seizures in September, as the USTreasury Bond found itself not acceptable as collateral, from a legal standpoint, due to the temporary shutdown. The USTBond was all of a sudden a defaulted bond, not worthy of collateral for the overnight loans. So much for pristine paper. The trials in violent events have resulted in actual events, done by the guardians as my suspicion. The October Hat Trick Letter offered details on the complex situation, a trickle down sequence of wrecked systems.
The objective might be to arrange for a vast centrifuge operated by the US Federal Reserve, to dispense USDollars in cash redemption for USTBills, orchestrated by Chinese hands, mainly for their benefit. Operation Twist enabled the Chinese to swap out of long-term USTBonds in favor of short-term USTBills. Now they want out of them too. Witness the upcoming USD/ USTB/ REPO sequential default centrifuge. The USFed is not in a position to prevent it. The USDept Treasury is not in a position to stop it. The REPO Market forces it. The Chinese might be orchestrating it, pulling levers, ordering actions, making phone calls, throwing their weight around. Their greater plan could be to cause the USGovt debt default and to force a regime change. Better described, they wish for a dismantle of the current form of the USGovt and its mis-Representative bodies. My best source has informed me that the Chinese Govt has already put in place a plan to write down $1 trillion in USGovt debt securities. Big changes are coming. The REPO Market might serve as the trigger device. The Chinese will then force a double in the Gold Price, which would bring them $1 trillion in like-sized profit. Think Reset. Their gold hoard is an order of magnitude greater than reported officially.
JPMORGUEN WRECKED HOUSE
A few months ago, a strange story hit the press on JPMorguen taking steps to exit from the commodities business. It was given minor weight. Back in May 2012, the venerable broken JPMorguen CIO control room revealed astounding derivative losses. Obviously they lied on the details, and deflected the blame. It was not from FOREX trades linked to Southern European sovereign bonds, which all improved over the previous three months (by the way). The outsized losses, probably ten times larger than admitted, were linked to the fast rise in the 10-year USTreasurys. The interest rate derivatives were in the process of breaking down badly. The London Whale loss was the signal. The mainstream press enjoys distorting the news, but the Jackass prefers to report it and to interpret it.
The Saga of the JPM Funeral is ongoing and unstoppable. The casket is prepared. The old man is dead on the floor. The quick move from 1.65% on the TNX in May to 2.95% in September was sufficient to wreck the entire Interest Rate Swap derivative structure, kit & kaboodle. No minced words here, IRSwap structure dead and destroyed, barely limping along. The added piece of evidence to support the claim was the September event whereby the USFed led a round robin of flash trading to overbid the USTBond with the collusion of Wall Street banks. They might not have been eager to comply, but they were forced to do so. If the Interest Rate Swap machinery still functioned, there would have been no need to resort to such obvious tactics in the open, in full view. The IRSwap machinery that serves as the flying buttress to the USTreasury Bond Tower of Babel is broken. Big movements up or down in the TNX, the 10-year bond yield, are capable of wrecking the delicate extremely high leveraged derivative apparatus. It is managed by the Exchange Stabilization Fund under the USDept Treasury aegis, with JPMorguen CIO operational management. The exacerbation has come from the Big US Banks reversing their bond carry trade, which has badly depleted their capital. The capital is urgently needed to defend the USTreasury Bond Tower, and to supply the Interest Rate Swap derivative machinery. The capital is gone. They lack liquidity and are insolvent. Death awaits.
The final evidence of a wrecked House of Morguen is the massive property sale for a meager $725 million. David Rockefeller would roll over in his grave, except that he still breathes among the Satanic warm bodies, soon destined for the worms and nether world. His JPMorguen iconic former headquarters at One Chase Manhattan Plaza was sold for a measly $725 million, which deserves repeating. The tower itself is worth twice that figure, in a healthy market that fetches true value. One must wonder if the sweet deal is in return for a truckload of toxic USTreasury Bonds wrapped in a package deal. The same JPM HQ location is the property complex that houses their commercial gold vault. It is the largest vault in the world. One Chase Manhattan Plaza combines three main components: a 60-story tower, a 2.5 acre plaza, and a 6-story base, of which five floors are beneath grade (underground). Excavations, said to be the most extensive in New York City history, reached a depth of 90 feet during its construction long ago. The construction is ornate and elaborate, featuring white Italian marble travertine, and fortified to withstand both a nuclear attack and a massive flood. The L-shaped plaza levels the sloping site and conceals six floors of operations, which includes an auditorium and the bank vault. The motives for sale to a Chinese property conglomerate remain shrouded in mystery.
China just acquired the building that houses the world's largest gold vault. Contrast with the frenetic Chinese gold imports in the last several months from Hong Kong, totaling 2000 metric tons in the past two years. Conclude possibly that China has decided it will no longer settle for domestically held gold and has begun to expand its global vault facilities, kind of like golden colonies or outposts, better yet arsenals and armories. The acquisition is an important step in the Grand Paradigm Shift of power moving from West to East. To put it in military terms, the Chinese just established a beach head in South Manhattan. It is more than a beach head. They took control of the USFed Operational HQ. Game over!! The USFed just surrendered!! The last people to know will be Americans. Word will filter through Wall Street. Watch the Wall Street investment banks soon announce the news of Chinese Govt debt being sold on US soil, just like in London. The whores of Manhattan can pivot and salute the Eastern master. The Chinese have captured the flag, by acquiring under duress the trophy tower. May John Pierpoint Morgan roll over in his two-timing grave also, an efficient agent for the Bank of England in the recapture of the US Colony a century ago.
Ever since the late 2008 events of financial firm collapse, the Big Banks lashed themselves together. Not just the New York banks, but the London banks and even the Western European banks like big German, Dutch, and French banks. If any one big Western bank fails, they will all suffer a failure event. There is security in numbers, which lashing does accomplish. The term comes from old ships at sea, which prevented sailors from being thrust overboard during stormy seas. They would tie themselves together with other sailors around the waist, then tie the ropes to the ship masts. In today's financial stormy seas, the big banks are being rocked by insolvency, and rocked by impaired sovereign bonds, and rocked by interest rate derivative losses, and rocked by reversed carry trade losses, and rocked by legal challenges with court settlements, and rocked by departure of wise client funds, and rocked by damaged prestige. Their insolvency owes to profound losses in their portfolios of bonds and loans. Their illiquidity owes to sudden massive derivative losses. They are also being forced to comply with harsh Basel III Rules on maintaining sufficient capital. Again, insolvency plus illiquidity equals bankruptcy and failure. Finally the Big US Banks are insolvent and suddenly illiquid. Thus the JPMorguen prize property sale, to raise cash, and to wipe away bad paper.
The Big US Banks have begun to announce capital controls. It started with JPMorguen on client accounts, limiting their withdrawals and limiting wire transfer activity. The practice has recently spread to other big banks, following in the JPM lead. Shadow banking has come to the fore to show its ugly head. Clearly, such a capital control policy would not be necessary if the big banks had sufficient capital and sufficient liquidity. They have neither.
SYSTEMIC BREAKDOWN IMMINENT
All the signals point to the same conclusion. The system is breaking down. The towers are falling. The paper mache structures have withered. The derivative machinery has been jammed. The confidence in the paper based system has vaporized. Nobody can foretell when the new system will arrive, but its description can be offered in rough terms. It will be from a Global Currency Reset, with a vast redemption of USTreasurys, a lost USDollar global currency reserve, and discredited sovereign bond backbone for all major currencies. It will feature a Gold Trade Standard, with trade settled on a net basis with gold bullion, supported by gold intermediary bankers. It will rely upon Gold Trade Notes that serve as Letters of Credit. It will see a massive Gold Trade Central Bank, whose embryonic form is noted in the BRICS Bank. Expect the bank to function as a processing plant at a later date, to convert USTBonds into Gold bullion. The same bank will process UKGilts, EuroBonds, and JapGovtBonds into Gold Bullion. The de-centralized system will be trade based, not bank based. Trade rules will dictate banking rules, to displace the Anglo banker hegemony. The New York and London offices, even the Swiss offices, will attempt to continue their sabotage. But they can only win delays. See the tactics exerted upon the G-20 Meetings. The BRICS initiatives and formal progress are led by Russia & China. They cannot be stopped, mainly because they attempt survival by establishing the next chapter's architecture.
The Grand Paradigm Shift is in progress. My sources indicate that the 5000 metric tons of Gold bullion moved from London to points East between April and July 2012. The flow eastward never stopped. The pace has continued. The Gold bullion continues to be shipped in enormous staggering volume. The Gold Community has only a rudimentary comprehension of what is happening in the clandestine shipment of gold. The pillars of the community seem either unaware or unwilling to report anything but the supersized Chinese purchases through the Hong Kong window, the Indian demand, and the Turkish demand. My belief is they lack insider contacts on the phenomenon movement of gold by the White Dragon Family and their Triad escorts. The agreements have already been made on the new Gold Trade Settlement system with its newly imposed Gold Trade Standard. They have agreed on a $7000/oz gold price, with a similarly exalted silver price of at least $250/oz. Decisions have been made final. The implementation is slow but steady. The game is over. The King Dollar is dead. All that remains is the funeral, the war in its wake, and the retaliation from the Satanic fortress and its legion of diabolical subjects.
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-- Posted Friday, 1 November 2013 | Digg This Article | Source: GoldSeek.com