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Brad Birkenfeld: Lucifer's Banker

A whistle-blower's account of exposing massive fraud at UBS
Sunday, April 16, 2017, 1:14 PM

Just how bad is the ongoing fraud in the banking system? Get ready for a mind-bowing expose by a former insider at UBS.

Brad Birkenfield, author of Lucifer's Banker: The Untold Story of How I Destroyed Swiss Bank Secrecy, recounts the efforts he uncovered by his employer to help its clients cheat the US government out of tens of $billions in taxes. » Read more

Insider

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Using Gold to Protect Yourself In Advance of the Greatest Wealth Transfer of Our Lifetime

A how-to guide
Friday, April 4, 2014, 9:44 AM

Executive Summary

  • The case for gold's manipulated price, and how that can be used to work to your advantage
  • Calculating the "floor" beneath which gold will likely not fall
  • The coming Great Wealth Transfer, which almost certainly will occur in our lifetime
  • How much to invest in gold
  • How to invest in gold
  • Exit strategies: when will it make sense to sell your holdings? And what should you exchange them for?

If you have not yet read The Screaming Fundamentals For Owning Gold, available free to all readers, please click here to read it first.

Market Manipulation

Before we can address the idea of storing some of your wealth in gold (and/or silver) we have to visit the topic of market manipulation. As many of you are aware this is an area of exceptional controversy, although I am not entirely sure why given the distressing laundry list of recently proven, and often grotesquely brazen, market manipulations performed by big banks in many other market areas.

Big banks have been proven or alleged to have manipulated energy markets, LIBOR, currency markets, the global oil market, and aluminum, among other things and all of these transgressions happened after they got caught engaging in forgery and fraud during the mortgage swindles of 2005 to 2007.

On one side of the manipulation debate, we might place the Gold Anti-Trust Action (GATA) organization alleging constant official manipulation to suppress the price of both gold and silver, and on the other we might place Jeff Christian, managing director of the metals research firm CPM, whose position is that all price movements can be explained by ordinary market forces.

I happen to be somewhere in between those views as I think both legitimate and illegitimate forces are part of the landscape. But I am heavily tilted towards market manipulation as the explanation for why gold (and silver) tend to move downwards violently from time to time and why the prices for each are not higher than they currently are.

The SEC has a clear definition of market manipulation and I’ve reproduced it here but swapped out the words ‘security’ and ‘stock’ with ‘gold’ to make it that much clearer:

Manipulation

Manipulation is intentional conduct designed to deceive investors by controlling or artificially affecting the market for gold. Manipulation can involve a number of techniques to affect the supply of, or demand for, gold. They include: spreading false or misleading information about gold; improperly limiting [or expanding] the supply of gold; or rigging quotes, prices or trades to create a false or deceptive picture of the demand for gold. Those who engage in manipulation are subject to various civil and criminal sanctions.

(Source)

I also added the two words "or expanding" because that condition also applies to commodities. 

How likely is it that some firms have been trading in gold in such a way as to create a false, rigged, or deceptive picture of gold (and silver) prices?  It’s all but proven in a court of law, but don't hold your breath waiting for that final proof, as the US court system has vigorously defended banks from such lawsuits for decades. 

I also happen to believe that gold is officially suppressed in price because it's what I would do if I were at the helm of the Fed and cared only for bolstering confidence in the dollar specifically, and fiat currencies generally, making the stock market a more attractive alternative, and also lending credence to political and monetary decisions (for the record, I am merely placing myself in the mind of the enemy here). Given that set of mandates, I would order up some hefty gold suppression because gold has a very bad habit of casting a bright light on rotten monetary and fiscal policy. 

Suppressing the price of gold just makes so much sense that I would consider it a form of derelict strategic weakness if the Fed et al. were not doing it.

One of the more important times to suppress the price of gold would be when... » Read more

Blog

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The Disenchantment of American Politics

And the coming uproar
Wednesday, January 8, 2014, 12:34 PM

Considering the problems we face as a nation, the torpor and lassitude of current politics in America seems like a kind of offense against history. What other people have allowed circumstances to run over them like so many ‘possums sleeping on the highway?

And, since human affairs don’t remain static indefinitely, in what direction might things go when the political mood finally heaves and shifts? The possibilities are unsettling. » Read more

Daily Digest

Image by PhotoJunkie!, Flickr Creative Commons

Daily Digest 6/2 - The High Cost Of Unemployment, Devastating OK Storms Continue

Sunday, June 2, 2013, 10:38 AM
  • Get Far Away From USA ... Its Collapse Will Be Messy: Jeff Berwick
  • U.S. judge orders Google to turn over data to FBI
  • Why Didn't the SEC Catch Madoff? It Might Have Been Policy Not To
  • The High Cost Of Unemployment
  • Unemployment Hits Record High in Euro Zone
  • Deadly Storms in Oklahoma Bring Flooding and More Tornadoes
  • Fracking Tests Ties Between California ‘Oil and Ag’ Interests
Daily Digest

Image by GOC53, Flickr Creative Commons

Daily Digest 3/17 - Bank Runs In Cyprus, The Facts On Fracking

Sunday, March 17, 2013, 11:30 AM
  • Shock in Cyprus as savers face bailout levy
  • Why Cyprus' Rescue Matters To Us
  • Europe Does It Again: Cyprus Depositor Haircut "Bailout" Turns Into Saver "Panic", Frozen Assets, Bank Runs, Broken ATMs
  • Facing Bailout Tax, Cypriots Try to Get Cash Out of Banks
  • Financial Pearl Harbor, Gold to hit $10,000 per ounce in 21st century?
  • Financialization of Justice: SEC Settles Insider Trading Case With SAC Capital For $600 Million
  • A ‘massive intrusion’: Promise and peril in Trans Mountain pipeline ambitions through B.C. mainland
  • North Dakota's Oil Boom
  • The Facts On Fracking
  • The Dangers Of Fracking
  • Obama Will Use Nixon-Era Law to Fight Climate Change
  • Great Lakes Experiencing 'New Stresses'
Daily Digest

Image by stevendepolo, Flickr Creative Commons

Daily Digest 3/7 - Beware The Dow Jones High, Maine Town Declares Food Sovereignty

Thursday, March 7, 2013, 11:46 AM
  • Switzerland Clamps Down Hard on Obscene CEO Pay
  • Iran reportedly uses snipers to tackle Tehran's rat problem
  • SEC shares expertise with FBI on algorithmic trading
  • Billionaires Dumping Stocks, Economist Knows Why
  • John Williams Exposes Government Lies
  • Scary New Satellite Pictures Of China's Ghost Cities 
  • No down payment? No problem
  • Haunting images at the heart of Detroit’s financial emergency
  • Saving Detroit City Council from Itself
  • Housing fuels record $7.33-billion bank profits
  • ‘We are angry’: Quebec students return to streets for nighttime protest against tuition increases, 50 arrested
  • How Tiny Cameras Have Become Big Business
  • Junior miners in survival mode, bracing for industry-wide culling
  • Fiat Monetary Theory: The Gamblers
  • Beware The Dow Jones Nominal Record High
  • 30 Facts About The Coming Water Crisis That Will Change The Lives Of Every Person On The Planet
  • Maine Town Declares Food Sovereignty
  • The children going hungry in America
  • CDC sounds alarm on deadly, untreatable superbugs
  • Fending off the ‘nightmare bacteria’