‘Congress all bribed, has zero confidence in eyes of American people’ – World Bank whistleblower


‘Congress all bribed, has zero confidence in eyes of American people’ – World Bank whistleblower

Hello Everyone :),

Enjoy this current interview with my friend Karen Hudes, World Bank Whistle blower and former Attorney.  Is the “Financial Meltdown” about to commence now, or has the collapse already begun.  One thing is for sure, when physical Gold can’t be delivered as in permanent Gold backwardation we are in the Federal Reserve End Game…  Who controls the Federal Reserve System?

Ed Reidhead

http://rt.com/shows/sophieco/world-bank-us-shutdown-820/

The US government shutdown – a temporary ailment or a symptom of a grave disease? Are the Republicans right in their move to block Obamacare spending? Who gains from the shutdown turmoil? Do the politicians care about their citizens? Our guest comes from the very heart of the banking system: Karen Hudes was World Bank lawyer when she blew the whistle on major corruption cases in the system and was fired as a result.

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Sophie Shevardnadze: Our guest today is whistleblower Karen Hudes, former senior counsel at the World Bank. Karen, it’s great to have you on a show today.

Karen Hudes: Thanks for having me. Sophie, I’m glad to be with you.

SS: So, the government shutdown. Is the move on the part of the Republicans justified? Is fighting off Obamacare worth all this mess?

KH: I think there is something more going on behind the scenes. A lot more actually.

SS: What do you mean?

KH: Well, there is a terrible currency problem. We’re on the verge of the currency war. The Federal Reserve is printing dollars like there is no tomorrow. And if they keep going the rest of the world is not going to accept them. As it is the BRICS countries – Brazil, Russia, India, China and South Africa – have decided that they are going to finance the trade among these countries with assets and pay for the difference in gold. And this is a right move for them…

SS: But how is that connected with a shutdown though?

KH: The US Congress has been fighting with the presidency because the presidency has been in total contempt and the highest legal officer of the United States Government has also been in contempt of Congress in fighting this international corruption that is ruining the dollar as an international reserve currency.

SS: You know, economists have been predicting the dollar will fall ever since the crisis in 2008. But the Government has managed to keep it afloat.

KH: Well, not for a long. If you look at what’s going in the gold and other precious metals markets, silver as well, we’re headed to something called “permanent gold backwardation”, that means there is a loss in confidencein the fiat currencies that are issued by those private banks. They like to consider themselves as ‘public banks’ but they really owned by private entities. And these currencies are about to crash because they are valueless, that’s what always happens to paper currencies that aren’t backed by assets.

SS: Like you’ve mentioned – “gold backwardation”, gold is often chanted as perfectly safe investment and alternative to the dollar, even. But how come the price of gold is following?

KH: Because of a market manipulation but that can only continue for so long because the Central Banks are running out of gold and the rests of the world are lining up to buy them. If you want to buy gold today, you have to pay today a premium. What they are offering in the future is called ‘a naked short’, they don’t have the gold to back those offers, that’s illegal what they are doing.

SS: I will get back to gold in a bit. But for now I would like to focus on Obamacare. In your opinion, is Obamacare really that crucial for the US economy?

KH: What you have is something that’s very good for medical insurance because most of the other countries that offer medical coverage do this through a single issuer. And that’s it not what we have here. What we have here is a bill that was drafted by the medical insurance companies. It’s not good for this economy. It never was.

SS: Why do you say it’s not good?

KH: Because what’s happening is the workers that worked full-time are being put deliberately on part-time basis, so that the companies can avoid giving the medical insurance coverage under the provisions of the law.

SS: You know this Obamacare thing.. I’ve heard it many times being compared to Socialism, Communism sometimes even. Do you trace the resemblance?

KH: That’s just because the mainstream media, when they report about what’s going on, are doing it by telling lies and anything that’s good for the powers that be. The mainstream media is completely owned and controlled by the same companies, private companies that own the Federal Reserve System. Most of the American citizens are clueless about the corruption that’s rifling their economy.

SS: But just to make sure are you saying that everything about Obamacare is bad? Or are there good things about it?

KH: No, of course, there are good things about it. But the problem is that the people that wanted to get up decent courage were not given the tools, they were not given the equipment, they were not given the press coverage – the honest press coverage that society needs to enact just legislation. The Congress people are all bribed by these corrupt forces and the American citizens have Zero confidence in their Congress.

SS: So, at this point you side with the Republicans for blocking the medicare.

KH: I’m not siding with Democrats or Republicans because both of those parties have been co-opted by these terrible corrupt forces I’m talking about.

SS: What we have right now is Americans being forced to get health insurance. How does it go with their love of liberties and freedom of choice?

KH: It’s not so much a question of being forced, you have to look at those parts of the society that have been thrown under the bus. The uneducated children who are not given superior education like we used to have.We are society that is giving short shrift to the people that need us. I’m not saying that we ignore the health needs of our country. I’m saying that we ignore the mainstream media because they are not telling us the truth.

SS: You know, I also heard Obama supporters argue that the American Capitalism is on the verge of death in its present form, the way it is existingnow, and the social injections, meaning the medical care and Obamacare, are needed as the only way to reform it or save it. Do you agree or disagree with that?

KH: The problem is not with the American citizens, they are a wonderful group, their values are good. It’s just that they are not given the tools that they need to have a just society. They are not given the basic information, about what is really going on and who is benefiting, from the economies that they are being told… they have been told that they have no money, they have taken an entire city, Detroit, and declared it bankrupt. When what’s actually happening is their tax dollars are not even staying in the society, their tax dollars are going by treaty to the United Kingdom, and then they are being transferred to the Vatican, to the bank of the Vatican. This is not a society that is going to be sustainable on any basis, for any reason.

SS: Do you feel like American economy is peaking up because we hear President Obama saying shutdown hurts American economy but at the very sensitive moment world has just started to catch up. Do you feel it’s catching up really?

KH: Those numbers about the employment are completely fabricated because they are not counting those people who have given up ever finding a job as unemployed. That’s ridiculous! The real rate is just about double what they reported as being.

SS: So the American debt looks like a doomed patient. Is there any other possibility for it than just grow into eternity forever? I mean raising debt ceiling once or twice a year, what’s the problem?

KH: The problem is actually when you talk about debt that our currency is financed by debt, our currency is issued by the Federal Reserve instead of the Treasury which is unconstitutional. When the Federal Reserve System was instituted in 1913 most of the Congress was on break, they sneaked that legislation through. So the debt is there simply for those bankers to put in interest on it and have it grow and compound every year. The debt is a fabrication, it’s probably should be repudiated. But it can be repudiated until you’ll have looked that all ofthe implications.

SS: Do you think it’s going to go on and on forever?

KH: No, what I think it’s going to happen is that at the upcoming Bretton Woods meeting on October 9th the countries of the world, the foreign ministers of the world are going to sit down and have a rational basis for currency rather than this fiat currency which is absolutely… what can I say, it makes no sense to anyone but the bankers that are issuing it.

SS: So, when you look at the conflict of the debt, it’s much more than just borrowing money – it makes you controllable. For example, in the case of US – who controls it, you mean the big corporations, or countries like China and Japan, who control large chunks of the debt?

KH: Well, that’s a very good question and, fortunately, some mathematicians at the Swiss Federal Institute of Technology have given us a very precise answer. They did a study of who owns and controls the companies on the capital markets – 43 000 companies. They found out that there is «a secret super-entity», they call it, that owns 60% of the earnings every year and 40% of the assets. They did this by putting the same people on the boards of these companies. So, they have ten times the economic power than there are entitled to. And they thoughtthat none would catch them at it. This is a huge conglomerate that has been rigging the labour’s prices, it has been rigging all of the commodity’s prices, and it has been trading in the securities markets with insider information. It has got to be stopped. It also bought up the media and has been lying to people deliberately. This is going to stop.

SS: So just to answer my question – the government is controlled by the conglomerates or the corporations rather than countries that are up and coming economically, right? Why haven’t these corporations or conglomerates, as you call it, been caught? Why is nothing changing?

KH: That’s the whole point about it. They’d like to think they are in control but they are not, they are not above the law. And we, citizens, know exactly what they are up to, we’ve been working on this problem, all of the governors of the States have been working on this terrible corruption, so have the Attorneys-General, so have the Sheriffs, and it’s not going to continue. The American people are taking back their government and they are stopping this terrible corruption.

SS: As of today, the United States is a financial heart of the world. Whether it collapses or keeps on going, it’s obviously wrong – this much power is concentrated in one place. Asia is a rising monster right now; could it be stealing this financial role from the US? Do you think China, for example, could steal its financial role from the US? Or are they also controlled by that same financial elite you’re mentioning?

KH: Well, I can tell you that the Jesuits have a very strong strangle hold on China as well but I can also tell you that the transition of economic strengths from the western countries to the east is going to happen, but it’s going to happen in a smooth way. It’s not going to be a transition through a currency war like that terrible corrupt group is trying to manipulate everyone into. We’re going to have a peaceful power transition this time around; we’re not going to have the World War III. They try to pull it off in Syria, they are now thinking they can pull it off in Iran, it’s not happening. The citizens of the world see what they are doing and we’re not letting them get away with it this time.

SS:Foreign governments keep buying US Treasury bonds despite obvious problems US economy is facing. What’s making them do that, in your opinion?

KH: I think the biggest market for the Federal Reserve notes is the US Treasury and there is a God of dollars right now. Yes, there is also a small market, unfortunately, the market is weakening as the dollar weakens because of all of this, what they call quantitative easing, where every month so many additional dollars are printed with absolutely no backing.

SS: Should we be buying gold?

KH: Well, yes and no, I think gold is probably wise purchase right now but more as insurance than investment because there is actually a great deal of gold, there is even more gold than people know about. For example, the amount of gold in the deposit in the Bank of Hawaii is 170 000 tonnes, this is more than the World Gold Council says as available for all the gold on the Earth. People don’t know how much gold there is, there is a lot of gold.

SS: Are you buying gold?

KH: I did actually, yes. But not because it’s an investment but because I’m not 100% certain that we’re going to get to act together before all of the paper fiat currency falls apart. So I see it as an insurance but because of the amount of gold that’s actually around in the world in deposit all over the world, I’m not so sure it’s a great investment.

SS: So you think the return to the gold standard is a realistic thing? It could be a possibility?

KH: Well, actually, that’s not such a good thing. The currency ought to be backed by value, but there is no reason why it should be restricted to precious metals, it could be any of the commodities that are valuable. The important thing is that, yes, the currency should be backed by assets rather than by debt as we now have.

SS: But if a financial collapse happens , let’s say, will gold be of any use? I mean, there is shortage of food, look at the world today, the biggest problem we’re facing is a clean drinking water. What gold is going to do about that?

KH: First of all, I think that we’re going to manage together, act together, I’m not expecting a collapse. Very accurate game-theory model is showing that we’re going to manage to make a transition in a very smooth way, maybe there’ll be a few fits at start. I think most of the countries in the world are in favour of working together and not to have a collapse. The only thing that you’re saying is that some of these crooks haven’t figured out, they haven’t seen the writing on the wall, they haven’t seen that we understand that there is a way to work together and avoid these problems, which are definitely avoidable.

SS: So, Karen, you were a senior counsel at the World Bank. Tell me something, honest banking is this an oxymoron?

KH: No, we have examples all over the place in the United States, the state of North Dakota has its own state bank and many of the other states are looking at that – at the moment 22 other states are looking at it, and we’re urging the other 28 states to look at it. There was a bank in Amsterdam but I think went on for 300 years with no problem. We know how to do banking, it should be like infrastructure to support the economy, it shouldn’t be for the benefit of elites that think they are above the law as we currently have. If you look at the Bank for International Settlements (BIS), that institution was established when the war reparations were being exacted from Germany after the World War I. That when it was started in 1930 and I believe its 60 central banks, that are members of the BIS, those are the corporates, those are the ones that really needs to go out of business.

SS: You first blew the whistle over corruption in the World Bank. Tell us more about your revelations?

KH: Well, that’s actually what happened. I was working in the Philippines and there was a bank. This was at the end of the East Asia financial crisis in the end of the 1990s. The second largest bank in the Philippines, the Philippine National Bank, there was a loan to strenghten the banking sector and what happened was a man who own Philippine airlines, Lucio Tan, ended up buying more than 10% of the shares of the Philippine National Bank without informing the security authorities in the Philippines, that was against the law. And then I told the person who was in charge of the World Bank Lending Programme they should tell the government of the Philippines that the conditions of the loan were not going to be met. And instead I was reassigned and I didn’t accept that, so I went to the meeting where it was decided whether or not to disperse the loan and I said that the board was not being informed that the conditions were not met. And then what happened was the loan wasn’t dispersed but the people who had their money on deposit in that bank withdrew their money and the Philippine Deposit Insurance Corp. had to withdraw, had to back up the bank, for five hundred million dollars, and then we didn’t disperse our loan for two hundred million and the Japanese didn’t disperse their loan for two hundred million. So, that was nine hundred million dollars worth of a pure loan performance and when the evaluation department in the world bank said that the World Bank had performed satisfactorily, I corrected that report and my correction was never given to the board. That was a cover-up. You can’t have a cover-up in a bank – that shows that money is going the wrong way. I’ve been working together with other whistleblowers at the World Bank because we know that the board has to be informed about what’s actually going on. Other whistleblowers have reported double accounting, we reported this to the UK Parliament, I reported it to the European Parliament in 2011 and the European Parliament wrote the letter to the World Bank. I had a very detailed chronology, and the World Bank never responded. Then I’ve been reporting this to the US Congress and when the US Congress was asked to give a capital increase to the World Bank, they had asked for a government accountability office audit which never took place. I was reporting this to the International Organisation of Supreme Audit institutions and then I asked the board to require KPMG to do an auditof the World Bank Internal Controls. KPMG did not follow the auditing standards, I reported this to the public company accounting oversight board, I reported this to the ICC. But since the ICC couldn’t be bothered to sort out the insider trading for the Federal Reserve System, they certainly weren’t going to straighten out the bonds in the World Bank. So I borrowed world bank bond and I sued under the securities laws, and I also went to each and every Attorney-General in the States, and I told the States that they were responsible for making sure that there was accurate financial information going to the bond holders in their States, and I also went to the International Organisation of the Securities Commissioners. So, the World Bank has got to be brought into compliance and there has to be transparency in the capital markets, and the insider training of the Federal Reserve System is going to be history in short order.

SS: Do you feel safe after all these leaks, I mean you were fired?

KH: You know I have been working with some very wonderful whistleblowers; in particular, I’d like to mention Mark Novitsky who has been reporting about insider trading and inaccurate financial reporting for Teletech, which is a company that had been spying on American citizens. So, when whistleblowers work together, and compare notes and share information you get a very accurate picture. In addition, I’d like to mention Larry Harrison, who has been my PR guy. So when you have people who you’re working with it’s not so easy to shut the whistleblowers down, we just gain in strength. We ‘re going from strength to strength.

SS: Do you feel like you are being heard? Is anything changing?

KH: Well, that’s what I like to ask your audience.

SS: Do you feel like anything changing in the system by whistleblowing on it?

KH: Yes, I absolutely do. I think the number of people they are hearing my message and that are looking into this information, and everyday they are sending me e-mails. They are going out and they are getting their neighbours to find out what’s really going on. I don’t think this mainstream media is going to have too big of an audience at the rate we’re going.

SS: There are liberty movements that are actually picking up now, the likes of Bitcoin, for example. Can they ever grow into a solid rival to the conventional system?

KH: I think they’re going to be a force to be reckoned with, yes. It’s a matter of fact. There are other similar kinds of payment systems that are now gaining currency. Yes, I think we’re going to have a world where there’s a lot of choice and the legal tender is not going to be used to put people into debt and to imprison them.

SS: Are you using a Bitcoin as of now?

KH: That’s a good question. I’m trying to learn how. There is a conference that is taking place and I’m going to try to get myself sorted out on that.

SS: Karen, thank you very much for your time. That’s all for today. Our guest was a former insider at the World Bank, ex-senior counsel Karen Hudes. Thanks for watching and we will see next time here in SophieCo.

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GoldSeek Live Webinar – Sept 9, 2013 [Dr Jim Willie & Rudi Fronk]


Hello to Everyone including all the new Friends and Subscribers,

Every time someone new follows my blog I get inspired…  Look at these interesting times we are in right now folks! I feel like now is the time for me to stand in my Integrity! I have a Vision! I have a vision that I am creating Integrity, Authenticity, Honor and Freedom for myself and everyone!  Will you stand for your life?  or will you live as a debt slave with debt based money paying interest to who?
I stand for public Banking and I stand for asset based money, whether that’s Gold, Silver, Bitcoin or Real Estate. I will continue to stand for integrity in commerce and human equality and dignity. Who will stand with me!
Enjoy my sincere and honest friend Jim Willie (~27 min), I really appreciate his amazing ability to communicate  complex Geo-political and fundamental Financial operations of the USFed and member World Central Banks.  Congratulations to Goldseek.com and their crew for creating this event.

Ed Reidhead

Everything Is Rigged: The Biggest Price-Fixing Scandal Ever


Everything Is Rigged: The Biggest Price-Fixing Scandal Ever

Hello Everyone,

Here is another source sharing on the state of US Banking and what their creating in our world…

Ed

April 25, 2013 1:00 PM ET

Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this out in recent months, when a series of related corruption stories spilled out of the financial sector, suggesting the world’s largest banks may be fixing the prices of, well, just about everything.

You may have heard of the Libor scandal, in which at least three – and perhaps as many as 16 – of the name-brand too-big-to-fail banks have been manipulating global interest rates, in the process messing around with the prices of upward of $500 trillion (that’s trillion, with a “t”) worth of financial instruments. When that sprawling con burst into public view last year, it was easily the biggest financial scandal in history – MIT professor Andrew Lo even said it “dwarfs by orders of magnitude any financial scam in the history of markets.”

That was bad enough, but now Libor may have a twin brother. Word has leaked out that the London-based firm ICAP, the world’s largest broker of interest-rate swaps, is being investigated by American authorities for behavior that sounds eerily reminiscent of the Libor mess. Regulators are looking into whether or not a small group of brokers at ICAP may have worked with up to 15 of the world’s largest banks to manipulate ISDAfix, a benchmark number used around the world to calculate the prices of interest-rate swaps.

Interest-rate swaps are a tool used by big cities, major corporations and sovereign governments to manage their debt, and the scale of their use is almost unimaginably massive. It’s about a $379 trillion market, meaning that any manipulation would affect a pile of assets about 100 times the size of the United States federal budget.

It should surprise no one that among the players implicated in this scheme to fix the prices of interest-rate swaps are the same megabanks – including Barclays, UBS, Bank of America, JPMorgan Chase and the Royal Bank of Scotland – that serve on the Libor panel that sets global interest rates. In fact, in recent years many of these banks have already paid multimillion-dollar settlements for anti-competitive manipulation of one form or another (in addition to Libor, some were caught up in an anti-competitive scheme, detailed in Rolling Stone last year, to rig municipal-debt service auctions). Though the jumble of financial acronyms sounds like gibberish to the layperson, the fact that there may now be price-fixing scandals involving both Libor and ISDAfix suggests a single, giant mushrooming conspiracy of collusion and price-fixing hovering under the ostensibly competitive veneer of Wall Street culture.

The Scam Wall Street Learned From the Mafia

Why? Because Libor already affects the prices of interest-rate swaps, making this a manipulation-on-manipulation situation. If the allegations prove to be right, that will mean that swap customers have been paying for two different layers of price-fixing corruption. If you can imagine paying 20 bucks for a crappy PB&J because some evil cabal of agribusiness companies colluded to fix the prices of both peanuts and peanut butter, you come close to grasping the lunacy of financial markets where both interest rates and interest-rate swaps are being manipulated at the same time, often by the same banks.

“It’s a double conspiracy,” says an amazed Michael Greenberger, a former director of the trading and markets division at the Commodity Futures Trading Commission and now a professor at the University of Maryland. “It’s the height of criminality.”

The bad news didn’t stop with swaps and interest rates. In March, it also came out that two regulators – the CFTC here in the U.S. and the Madrid-based International Organization of Securities Commissions – were spurred by the Libor revelations to investigate the possibility of collusive manipulation of gold and silver prices. “Given the clubby manipulation efforts we saw in Libor benchmarks, I assume other benchmarks – many other benchmarks – are legit areas of inquiry,” CFTC Commissioner Bart Chilton said.

But the biggest shock came out of a federal courtroom at the end of March – though if you follow these matters closely, it may not have been so shocking at all – when a landmark class-action civil lawsuit against the banks for Libor-related offenses was dismissed. In that case, a federal judge accepted the banker-defendants’ incredible argument: If cities and towns and other investors lost money because of Libor manipulation, that was their own fault for ever thinking the banks were competing in the first place.

“A farce,” was one antitrust lawyer’s response to the eyebrow-raising dismissal.

“Incredible,” says Sylvia Sokol, an attorney for Constantine Cannon, a firm that specializes in antitrust cases.

All of these stories collectively pointed to the same thing: These banks, which already possess enormous power just by virtue of their financial holdings – in the United States, the top six banks, many of them the same names you see on the Libor and ISDAfix panels, own assets equivalent to 60 percent of the nation’s GDP – are beginning to realize the awesome possibilities for increased profit and political might that would come with colluding instead of competing. Moreover, it’s increasingly clear that both the criminal justice system and the civil courts may be impotent to stop them, even when they do get caught working together to game the system.

If true, that would leave us living in an era of undisguised, real-world conspiracy, in which the prices of currencies, commodities like gold and silver, even interest rates and the value of money itself, can be and may already have been dictated from above. And those who are doing it can get away with it. Forget the Illuminati – this is the real thing, and it’s no secret. You can stare right at it, anytime you want.

Four Horseman of the Banking Cartel. They rule the World. 2013 No more Gold in America.


Rothchilds family are worth over 100 trillion dollars. This name Rothchild comes from Germany, The Rothchilds real family name is really Bauer. This Family changed the last name to match the name of a old Masonic German bank.
There are 13 Families that rule the world

Hello Everyone!

In case I have not documented this information before, here it is!  This is perhaps, one of the best presentations on Banking Houses and Central Banks and Banking Cartels.  There are several sources sharing on these subjects and more.

By,

Ed Reidhead

World Bank Whistle-blower: “Precious Metals To Serve As An Underpinning For Paper Currencies”


World Bank Whistle-blower: “Precious Metals To Serve As An Underpinning For Paper Currencies”

Enjoy this article from the Silver Doctors…  and congratulations to Karen Hudes for demonstrating courage and integrity…

Ed

Karen Hudes, Former Senior Counsel to the World Bank—now turned whistle-blower.

I had the opportunity yesterday to speak with one of the western world’s most courageous and astute women, Karen Hudes, Former Senior Counsel to the World Bank—now turned whistle-blower.
It was a powerful conversation, as Karen spent 20 years with the World Bank as an attorney and economist, before being “let-go” after reporting internal fraud and corruption.
During the interview Karen indicated that the world is rapidly changing, with western power structures breaking down, economic & political influence gravitating to BRICs nations, all amid a pending currency transition which will highly favor precious metals.   Hudes stated: All of the countries of the world are going to allow precious metals to serve as currency, and this will be an underpinning for paper currency, as we’ll have both systems at the same time.”

From Tekoa Da Silva:

Starting out by discussing the shocking centralized power she witnessed while working at the World Bank, Karen explained that, “A study done by three [Swiss] systems analysts who used mathematical modeling [shows] how the [world’s] 43,000 transnational corporations were being controlled through interlocking corporate directorates. There’s a group of 147 companies, most of them are financial institutions, and what they’ve done, is through the interlocking directorates, they control 40% of the net worth of these [43k] companies, and 60% of their earnings…so that group has been using the presidency of the World Bank as kind of a puppet to dominate the world—that’s [now] finished.”

A major shock to that centralized power base, according to Karen, was the recent move by BRICs nations leaders to bypass the World Bank for their financing needs, by establishing their own development bank. “As the BRICs [nations] economic power grows,” she explained, “they’re not going to be strangled anymore through the grabbing [of] their resources…So their decision to start their own development bank was their way of letting [world] governments know…that its time to end this corruption.” 

Major moves toward monetary independence are also being made by growing numbers of U.S. states, Karen added. She explained that, “The states are starting to have legislation recognizing gold and silver bullion as legal currency. This is [also] a very strong signal the states are sending to the federal government, that the time to get serious about ending the corruption in the financial system is now here.”

When asked her thoughts on what this all means for the world monetary system, Karen said, “What’s going to happen, is we’re going to have all the countries of the world, sit down and figure out what’s going to be the best, most orderly transition from the current system that we have, [which has] profound imbalance and unsustainable deficits…[this change] is going to happen as each country makes its preference known, because the system we have now is not transparent, and the biggest change [in the new system], is that there’s going to be transparency.”

That transparency may be found through a gold-backed currency system, Karen noted, as,All of the countries of the world are going to allow precious metals to serve as currency, and this will be an underpinning for paper currency, [as] we’ll have both systems at the same time. This is my guess, as I mentioned—I am an economist.”

As a final comment speaking towards her difficult journey as a World Bank whistle-blower, Karen said, “I’ve been struggling now for years, to tell the American public what’s [been] going on. I haven’t gotten through, because this [financial] group has bought up the press and has been spreading disinformation systematically. That undermines the whole point of a democracy. How can voters vote without an informed opinion, without the information that they’re entitled too? So this strangle-hold on information is going to end in very short order.”
——

This was a powerful interview conducted with a great American patriot and honorable world citizen. Karen is setting an example for the history books, and her interview is required listening for global thinkers and market students.

To listen to the interview, left click the following link and/or right click and “save target as” or “save link as” to to your desktop:

>>Interview with Karen Hudes (MP3)

To learn more about Karen and support her work, visit: Kahudes.net

Bloomberg.com News, Opinion, Markets


Bloomberg.com News Opinion Markets

Hello everyone!

Enjoy the Bloomberg.com website… 

Ed

 

Keiser Report: Correlation and Causation of Gold Price (E434, ft. Paul Craig Roberts)


Enjoy the Keiser Report E434…  Max Keiser is today’s leading financial commentator and reporter discussing economic, banking and finance with openess and integrity. I appreciate Mr. Paul Roberts sharing his views on current Federal Reserve actions.

Enjoy,  Ed

Published on Apr 20, 2013

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss Reinhart and Rogoff, Excel errors, correlation and causation and the gold selloff being a bonus for ‘activist central bankers’ who can now claim ‘hyperinflation no longer a threat.’ In the second half of the show, they talk to Dr. Paul Craig Roberts about the smack down in gold and the failure of ‘laissez-faire capitalism’.

Follow Max Keiser on Twitter: http://twitter.com/maxkeiser

Watch all Keiser Report shows here:
http://www.youtube.com/playlist?list=… (E1-E200)
http://www.youtube.com/playlist?list=… (E201-current)

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Still Report (SR) 76 Wall Street


Hello friends,

I am amazed at this discussion on US Banking and Finance, this is the first time I’ve ever heard the current “fractional reserve banking system” being honestly discussed… Thank you again Bill Still for your efforts to share about fundamental banking and finance methods and practices.

Enjoy- Ed

Published on Apr 18, 2013

This is Professor Jeffrey Sachs of Columbia University speaking at the “Fixing the Banking System for Good” conference on April 17, 2013. This audio is absolutely EXPLOSIVE!

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IMF members: World economy still needs ‘decisive’ action…


IMF members: World economy still needs ‘decisive’ action…

Hello Everyone!

I find this article very interesting…  it looks as though the future of World financial matters is in the balance…  Which way will it go?

Ed

IMF members: World economy still needs ‘decisive’ action

Published: April 20, 2013

— Finance ministers from around the world emphasized Saturday that much work remains to reach full recovery, especially in advanced economies.

In a joint statement following meetings Saturday in Washington of the International Monetary Fund’s policy-making committee, the finance ministers said that countries “need to act decisively to nurture a sustainable recovery and restore the resilience of the global economy.”

IMF economists this week underlined the need for the eurozone to bring banks back to full health, especially in harder-hit countries, and to rapidly move toward a full banking union with common oversight. Without a properly functioning banking sector, the smaller businesses that can deliver jobs and economic growth will continue to be starved for investment.

“Financial sector repair and reform remain a priority,” the finance ministers said. “Advanced economies need to balance supporting domestic demand with reforms to tackle structural weaknesses that weigh on growth, while implementing credible fiscal plans.”

The IMF this week pared back its 2013 global growth forecast by 0.2 percentage points to 3.3 percent. Most of that growth is coming from emerging and developing markets, while the eurozone economy is expected to contract this year.

After the meeting, Singaporean Finance Minister Tharman Shanmugaratnam, who chairs the IMF’s policy-setting committee, said that “around the table . . . there was a very strong view that we had to place greater emphasis on structural reforms to create jobs, as well as to boost productivity.”

Such reforms to improve growth vary among economies but often include streamlining labor markets, reducing barriers to starting new businesses and removing market-distorting subsidies.

The closing statement from finance ministers said that “accommodative monetary policy is still needed to help bolster growth but . . . eventual exit from monetary expansion will need to be carefully managed and clearly communicated.”

The rate-setting US Federal Reserve has kept interest rates near zero for more than four years, and additionally is pumping $85 billion into bond markets every month to further stimulate investment, in an unprecedentedly loose monetary policy. Central banks in the eurozone and Japan have taken smaller but similar steps toward highly accommodative monetary policy.

With central banks sailing into uncharted waters, worries have arisen that the new monetary policies could stoke inflation or inflate dangerous bubbles in prices of stocks, real estate or other assets. At the same time, with less than strong growth in those regions, there are concerns that the same economies could wither if central banks stop showering them with cash.

IMF chief Christine Lagarde said that the Washington-based crisis lender will study the “consequences of unconventional monetary policy . .. and what will be the good exit, as opposed to the more unpleasant exit for all members.”

Alcuin and Flutterby Exploring what might be


Alcuin and Flutterby Exploring what might be

Hello Everyone!

I feel like this is one of the best articles on the recent devaluation of Gold, Silver and various precious metals.  What could be the motivation of gold and Silver going down in value against the fiat currency $ USD.  Is it possible that some interest could artificially depress the price of Gold and Silver vs the USD?  What could be the effects of massive amounts $ of “Quantitative Easing”?  What does the term “to big to fail” mean in the context of a massice paper Ponzi Scheme based on “derivatives” and other financial euphemisms…

Enjoy,  Ed

Saturday, April 20, 2013

http://alcuinbramerton.blogspot.com/2012/11/httpalcuinbramerton.html
Alcuin Bramerton Twitter .. WikiLeaks Master Mirror Sites ..#1ab archive
Alcuin Bramerton profile ….. Index of blog contents ….. Home …..#1ab

Gold vs Silver vs Japanese Yen – live chart (10 month)
Paul Craig Roberts, a Reagan-era Assistant Secretary of the US Treasury, explains why the gold price just plummeted:

I was the first to point out that the Federal Reserve was rigging all markets, not merely bond prices and interest rates, and that the Fed is rigging the bullion market in order to protect the US dollar’s exchange value, which is threatened by the Fed’s quantitative easing. With the Fed adding to the supply of dollars faster than the demand for dollars is increasing, the price or exchange value of the dollar is set up to fall.

A fall in the dollar’s exchange rate would push up import prices and, thereby, domestic inflation, and the Fed would lose control over interest rates. The bond market would collapse and with it the values of debt-related derivatives on the “banks too big too fail” balance sheets. The financial system would be in turmoil, and panic would reign.

Rapidly rising bullion prices were an indication of loss of confidence in the dollar and were signaling a drop in the dollar’s exchange rate. The Fed used naked shorts in the paper gold market to offset the price effect of a rising demand for bullion possession. Short sales that drive down the price trigger stop-loss orders that automatically lead to individual sales of bullion holdings once their loss limits are reached.

According to Andrew Maguire, on Friday, April 12, the Fed’s agents hit the market with 500 tons of naked shorts. Normally, a short is when an investor thinks the price of a stock or commodity is going to fall. He wants to sell the item in advance of the fall, pocket the money, and then buy the item back after it falls in price, thus making money on the short sale. If he doesn’t have the item, he borrows it from someone who does, putting up cash collateral equal to the current market price. Then he sells the item, waits for it to fall in price, buys it back at the lower price and returns it to the owner who returns his collateral. If enough shorts are sold, the result can be to drive down the market price.

A naked short is when the short seller does not have or borrow the item that he shorts, but sells shorts regardless. In the paper gold market, the participants are betting on gold prices and are content with the monetary payment. Therefore, generally, as participants are not interested in taking delivery of the gold, naked shorts do not need to be covered with the physical metal. In other words, with naked shorts, no physical metal is actually sold.

People ask me how I know that the Fed is rigging the bullion price and seem surprised that anyone would think the Fed and its bullion bank agents would do such a thing, despite the public knowledge that the Fed is rigging the bond market and the banks with the Fed’s knowledge rigged the Libor rate. The answer is that the circumstantial evidence is powerful.

Consider the 500 tons of paper gold sold on Friday. Begin with the question, how many ounces is 500 tons? There are 2,000 pounds to one ton. 500 tons equal 1,000,000 pounds. There are 16 ounces to one pound, which comes to 16 million ounces of short sales on Friday.

Who has 16 million ounces of gold? At the beginning gold price that day of about $1,550, that comes to $24,800,000,000. Who has that kind of money?

What happens when 500 tons of gold sales are dumped on the market at one time or on one day? Correct, it drives the price down. Investors who want to get out of large positions would spread sales out over time so as not to lower their sales proceeds. The sale took gold down by about $73 per ounce. That means the seller or sellers lost up to $73 dollars 16 million times, or $1,168,000,000. Who can afford to lose that kind of money? Only a central bank that can print it.

I believe that the authorities would like to drive the gold price down further and will, if they can, hit the gold market twice more next week and put gold at $1,400 per ounce or lower. The successive declines could perhaps spook individual holders of physical gold and result in actual net sales of physical gold as people reduced their holdings of the metal.

However, bullion dealer Bill Haynes told kingworldnews.com that last Friday bullion purchasers among the public outpaced sellers by 50 to 1, and that the premiums over the spot price on gold and silver coins are the highest in decades. I myself checked with Gainesville Coins and was told that far more buyers than sellers had responded to the price drop.

Unless the authorities have the actual metal with which to back up the short selling, they could be met with demands for deliveries. Unable to cover the shorts with real metal, the scheme would be exposed.

Do the authorities have the metal with which to cover shorts? I do not know. However, knowledgeable dealers are suspicious. Some think that US physical stocks of gold were used up in sales in efforts to disrupt the rise in the gold price from $272 in December 2000 to $1,900 in 2011. They point to Germany’s recent request that the US return the German gold stored in the US, and to the US government’s reply that it would return the gold piecemeal over seven years. If the US has the gold, why not return it to Germany? The clear implication is that the US cannot deliver the gold.

Andrew Maguire also reports that foreign central banks, especially China, are loading up on physical gold at the low prices made possible by the short selling. If central banks are using their dollar holdings to purchase bullion at bargain prices, the likely results will be pressure on the dollar’s exchange value and a declining market supply of physical bullion. In other words, by trying to protect the dollar from its quantitative easing policy, the Fed might be hastening the dollar’s demise.

Possibly the Fed fears a dollar crisis or derivative blowup is nearing and is trying to reset the gold/dollar price prior to the outbreak of trouble. If ill winds are forecast, the Fed might feel it is better positioned to deal with crisis if the price of bullion is lower and confidence in bullion as a refuge has been shaken.

In addition to short selling that is clearly intended to drive down the gold price, orchestration is also indicated by the advance announcements this month first from brokerage houses and then from Goldman Sachs that hedge funds and institutional investors would be selling their gold positions. The purpose of these announcements was to encourage individual investors to get out of gold before the big boys did. Does anyone believe that hedge funds and Wall Street would announce their sales in advance so the small fry can get out of gold at a higher price than they do? If these advanced announcements are not orchestration, what are they?

I see the orchestrated effort to suppress the price of gold and silver as a sign that the authorities are frightened that trouble is brewing that they cannot control unless there is strong confidence in the dollar. Otherwise, what is the point of the heavy short selling and orchestrated announcements of gold sales in advance of the sales?

Source here (13.04.13). Unfolding gold news and commentary here (18.04.13), here (18.04.13), here (17.04.13), here (17.04.13), here (17.04.13), here (17.04.13), here (16.04.13), here (16.04.13), here (16.04.13), here (16.04.13), here (15.04.13), here (15.04.13), here (15.04.13), here (14.04.13), here (14.04.13), here (14.04.13) and here (13.04.13).

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