06 November 2014

Gold Daily and Silver Weekly Charts - Pity the Swiss


"England may as well dam up the waters of the Nile with bulrushes as to fetter the step of Freedom, more proud and firm in this youthful land than where she treads the sequestered glens of Scotland, or couches herself among the magnificent mountains of Switzerland."

Lydia Maria Child, The Rebels, or Boston before the Revolution

Pity the poor Swiss. 

The Bankers and the power brokers are frightening them with dire consequences if they should exercise their freedom and politely request that their gold be returned to them, to be kept within their national borders.

Why should they resist?  This is not done in the well developed, sophisticated nations.  Why should anyone wish to hold their own wealth?  Better to give it to someone else to hold, someone who is more intelligent and capable.

And why stop at gold?   The Swiss must be foolish, to trouble themselves with keeping the arms with which to defend themselves in their own homes, with heavier weapons such as planes and artillery tucked away here and there in their cantons.  What inefficient nonsense.

Wouldn't it make more sense to send all this weaponry overseas, let's say to New York, for safekeeping?   If they wish to sell, replace, or repair it, it would be much cheaper to do it in one of the countries that are major arms suppliers to the world.

What else do the Swiss cherish?   Perhaps they should sell their children into indentured servitude, so they do not have to trouble their minds about educating and caring for them.   The Banks and the State can surely do a better job than they.  Or perhaps they should sell them to the nation builders in New York or London, where the management of population is done more efficiently and effectively.

Freedom is a burden.  And wealth just creates more worries.  Better to hand it over to one of the world's great powers for safekeeping.    Change is too risky.

You will surely never have to think again of it, or even see it, for a very long time.  It will be as though it is not even there.

Say yes to servitude.   Vote no on repatriating your nation's wealth.  Do not make the same mistake as the Germans.

All the English speaking countries are doing it.   Look how well the centralization of wealth in fewer and fewer hands is working for England and America, in Australia and Canada.  Their people sleep extraordinarily well.  In fact, it is often hard to tell if they are ever truly awake.
 
Have a pleasant evening.




 

SP 500 and NDX Futures Daily Charts - Bliss


“I know not why anyone but a schoolboy in his declamation should whine over the Commonwealth of Rome, which grew great only by the misery of the rest of mankind.

The Romans, like others, as soon as they grew rich, grew corrupt; and in their corruption sold the lives and freedoms of themselves, and of one another.”

Samuel Johnson

Stocks continued drifting higher today ahead of the Non-Farm Payrolls number tomorrow.

All is quiet in the Pax Americana.  The natives are blissfully uninformed.

Did they know there were protests in London and Brussels? 

No, they only hear of the latest fashions, and dark tales of the evil Russian, which are quickly dispelled by the posturing of Taylor Swift, and here and there, gossip about power struggles in the Capitol District.

Have a pleasant evening.




 

Taibbi: The $9 Billion Witness - The Deal Manager That JPM Did Not Wish to Tell Her Story


"Corruption is why we win."

Danny Dalton, Syriana


"It was like watching an old lady get mugged on the street. I thought, 'I can't sit by any longer'... Every time I had a chance to talk, something always got in the way... I could be sued into bankruptcy. I could lose my license to practice law. I could lose everything.

But if we don't start speaking up, then this really is all we're going to get: the biggest financial cover-up in history."

Alayne Fleischmann, quoted in The $9 Billion Witness

It's nice to see Matt writing again about financial shenanigans.

Isn't it amazing how the sports editor at Rolling Stone magazine, and small blogs on the internet, keep coming up with amazing scoops and stories about financial corruption that are completely missed or glossed over by the mainstream media?

Confidence!  

Best markets, financial system, and news media, ever.   If you are a member of the one percent.

The $9 Billion Witness
By Matt Taibbi
November 6, 2014

Meet the woman JPMorgan Chase paid one of the largest fines in American history to keep from talking

...Fleischmann is the central witness in one of the biggest cases of white-collar crime in American history, possessing secrets that JPMorgan Chase CEO Jamie Dimon late last year paid $9 billion (not $13 billion as regularly reported – more on that later) to keep the public from hearing.

Back in 2006, as a deal manager at the gigantic bank, Fleischmann first witnessed, then tried to stop, what she describes as "massive criminal securities fraud" in the bank's mortgage operations.

Thanks to a confidentiality agreement, she's kept her mouth shut since then...

Six years after the crisis that cratered the global economy, it's not exactly news that the country's biggest banks stole on a grand scale. That's why the more important part of Fleischmann's story is in the pains Chase and the Justice Department took to silence her....

Read the entire article at Rolling Stone.