Did The Fed’s Alan Greenspan Admit Gold Is Being Manipulated?

Every now and then I see another analyst publicly claim that the gold market is being manipulated. And, the reason they come to that conclusion is because the market moved in way ‘they did not expect.’
Now, for those of us who are thinking people, we clearly see the issue with such a perspective. Why is it ‘manipulation’ when an analyst is not able to recognize their own limitations?
Personally, I did not expect the metals market to spend all of 2017 in a consolidation, especially since the market had several set ups to break out. But, I simply understand that sentiment was not ripe for the market to break out just yet, and listen to what price tells me. Clearly, I do not suggest that my inability to foresee a year-long consolidation is a result of manipulation.
So, when analysts throw their hands up in frustration because they are wrong does not mean they were wrong because the market is manipulated. I believe that to be quite dishonest and only shows the extent of their ego.
But, we have a bigger problem in the market beyond inflated egos. You see, once they move into the manipulation theories, the ‘proof’ they provide for such manipulation is just as dishonest as their perspective.

This post was published at GoldSeek on Wednesday, 15 November 2017.

How Facebook & Google Threaten Public Health… And Democracy

Authored by Roger McNamee, op-ed via The Guardian,
The sad truth is that Facebook and Google have behaved irresponsibly in the pursuit of massive profits. And this has come at a cost to our health…
In an interview this week with Axios, Facebook’s original president, Sean Parker, admitted that the company intentionally sought to addict users and expressed regret at the damage being inflicted on children.
This admission, by one of the architects of Facebook, comes on the heels of last week’s hearings by Congressional committees about Russian interference in the 2016 election, where the general counsels of Facebook, Alphabet (parent of Google and YouTube), and Twitter attempted to deflect responsibility for manipulation of their platforms.
The term ‘addiction’ is no exaggeration. The average consumer checks his or her smartphone 150 times a day, making more than 2,000 swipes and touches. The applications they use most frequently are owned by Facebook and Alphabet, and the usage of those products is still increasing.
In terms of scale, Facebook and YouTube are similar to Christianity and Islam respectively. More than 2 billion people use Facebook every month, 1.3 billion check in every day. More than 1.5 billion people use YouTube. Other services owned by these companies also have user populations of 1 billion or more.
Facebook and Alphabet are huge because users are willing to trade privacy and openness for ‘convenient and free.’

This post was published at Zero Hedge on Nov 11, 2017.

A Different Powelling – Precious Metals Supply and Demand Report

New Chief Monetary Bureaucrat Goes from Good to Bad for Silver
The prices of the metals ended all but unchanged last week, though they hit spike highs on Thursday. Particularly silver his $17.24 before falling back 43 cents, to close at $16.82.
It was not a gentle fall back. In about an hour and fifteen minutes on Friday morning (as we Arizonans reckon the time), the price of silver dropped from $17.16 to $16.76. Was this a case of the infamous manipulation we’ve all read about? We can’t tell you who did it, but we can show you a clear picture of what happened.
In any case, it seems that either Fed chairman appointee Powell is not good for silver, or else that the price of silver has little to do with continuation of current Fed (central) planning.
Fundamental Developments
We will look at intraday gold and silver supply and demand fundamentals. But first, here are the charts of the prices of gold and silver, and the gold-silver ratio.

This post was published at Acting-Man on November 7, 2017.

Hillary What Happened – She Rigged the Democratic Party

Donna Brazile’s new memoir, Hacks, has exposed Hillary Clinton for what she really is – a corrupt manipulative politician. Bracile is the former Democratic party leader. Behind the curtain, she is known as a foul-mouth boldface liar. Now Brazile’s book, reveals that Clinton took control of the party long before deciding who would be the Democrat final candidate. This is what the Clinton’s have been known for – behind-the-scenes manipulation.
Clinton knew that the Democratic party was heavily in debt. Brazile describes Hillary’s acquisition of the party as an extortion. The Party left behind by Barack Obama inherited $24 million debt of which $15 million was bank debt, and $8 million was owed by the party to suppliers who had not been paid. In real terms, the Democratic Party was bankrupt confirming what our models had been forecasting about the decline in that party.

This post was published at Armstrong Economics on Nov 7, 2017.

Electronic Gold: The Deep State’s Corrupt Threat to Human Prosperity and Freedom

Stewart Dougherty returns with unique insight into the powerful Deep State forces behind the relentless manipulation of gold and silver. He also presents a searing look at Jim Rickards’ deceptive role as the Deep State’s grifter.
‘There are crooks everywhere you look now. The situation is desperate.’ Final blog entry by Daphne Caruana Galizia, 53, renowned Maltese investigative reporter who specialized in exposing state corruption; posted on 16 October 2017, one day before she and her vehicle were blown to bits by a car bomb in Bidnija, Malta
In 2011, gold pulled a ‘Bitcoin’ before anyone even knew what Bitcoin was: its price went vertical to $1,900 per ounce. Inflation-adjusted, the price was still far below its 1980 all-time high, and from all indications, it was going to keep heading north toward its free market print.
In surging, gold blurted out the Deep State Central Planners’ strategy for dealing with the Great Financial Crisis: the hyperinflation of bond, equities and real estate prices via the hyperinflation of both official and totally clandestine, off-the-books money supply, in order to create the hyperinflation of tax revenues desperately required by the government to forestall its fiscal collapse. Gold’s exposure of the Deep State Central Planners’ secret strategy was absolutely unacceptable to them, and had to be stopped.

This post was published at Investment Research Dynamics on November 7, 2017.

US Links Erdogan To “Secret Gold” Trade With Iran; Lira, Bonds Tumble

While long forgotten for some, in the summer of 2014, we reported in detail on what appeared to be the biggest, most bizarre money-laundering scheme ever, involving Turkey trading “200 tons of secret gold” with Iran…
The topic of Turkey’s Oil-for-Gold ‘deals’ has not been far from our thoughts over the last few years (here, here, and here) but as Bloomberg reports, after accessing a report leaked on March 14 of a network that spanned Turkey, China, Dubai and Iran, the plot reveals “one of the most complex illicit finance schemes [prosecutors] have seen.” It included the classic money-laundering techniques of over-invoicing and false invoicing (exactly as in the case of the Chinese commodity financing scandal underway) but the secret government plan to juice Turkey’s exports goes much deeper; and if you think that the exposure of this scheme is slowing Turkey’s manipulation, think again. Turkey’s trade balance continues to fluctuate unpredictably as gold stocks flow out of the country in bursts. ‘Turkey’s going to continue it,’ the Turkish economy minister said. ‘If those casting aspersions on the gold trade are searching for immorality, they should take a look in the mirror.’ We first started noticing major ‘odd’ exports of gold from Turkey to Iran in May 2012. But in 2013, with a plunging currency, surging inflation, slowing growth, and specter of rapid QE-driven hot money outflows leaving his nation desperate; Zafer Caglayan, the minister in charge of Turkey’s $800 billion economy decided that the only way to ensure success in the looming election… was to cheat…
Read more here…
A farcical domestic investigation was undertaken and while the judges and officials who probed the money laundering scheme were either fired or reassigned, the findings in their report were leaked.
The leaked document that Erodgan tried so hard to hide, prepared by the Turkish National Police, shows that investigators probed the activities of a cast of characters that was both powerful and dependent upon each other for favors. There have been some arrests (but no politicians)

This post was published at Zero Hedge on Nov 3, 2017.

Federal Prosecutors Are Investigating Wells Fargo’s FX Business

Last week, WSJ stoked fears that the Feds might be ramping up another probe into abuse and manipulation in the foreign exchange market when it reported that Wells Fargo had abruptly terminated four bankers from its FX business and transferred another. Now, Wall Street’s paper of record is reporting that Federal prosecutors are investigating Wells for abuses in its FX shop – but the scope of the investigated is limited to one disputed trade.
According to WSJ, prosecutors have subpoenaed information from Wells and from the recently fired bankers as they investigate a trade and ensuing dispute between Wells and one of its clients, Restaurant Brands International Inc.
RBI owns several fast-food franchises, including Burger King, Tim Hortons and Popeyes Louisiana Kitchen. In an amusing twist, both companies count Warren Buffett’s Berkshire Hathaway as one of their largest shareholders.

This post was published at Zero Hedge on Oct 27, 2017.

Amazon: The Devil Is In The Details

Jeff Bezos/Amazon is the poster-child for the degree to which this entire economic and political system is profoundly corrupt. – Investment Research Dynamics
Amazon stock made a big after-hours ‘shock and awe’ move after it reported a huge headline ‘beat’ of its Q3 earnings. It’s a funny thing how the ‘beat the Street’ game works. Ninety days ago the consensus estimate for Q3 was $1.09, with one estimate as high as $1.59. The estimates were systematically ‘walked down’ over the last 3 months to a mean estimate of 2 cents and a high-end estimate of 26 cents. This is how the game is played.
Make no mistake, the Company knowingly ‘guides’ analysts down in order to engineer a ‘headline’ surprise. This is how absurd this game has become. The ‘beat the numbers’ game is one of the many frauds connected with corporate earnings reports. That said, AMZN’s EPS in Q3 2017 were the same as Q3 2016 – zero EPS growth. Bear in mind that GAAP acquisition accounting manipulation is heavily at play here. Acquisition accounting enables a company to boost revenues and hide expenses.
Here’s just a cursory look at the ‘Devil in the details’ (Short Seller Journal subscribers will get the in-depth, eye-opening analysis in the next issue released Sunday afternoon).
Amazon’s headline revenue ‘growth’ cost AMZN a lot money in terms of operating earnings. Despite the ‘marquee’ 34% sales ‘growth’ rate, AMZN’s operating income plunged nearly 40% year/year for Q3. This drop in operating income has accelerated, as YTD for the first 9 months of 2017, AMZN’s operating income has dropped 32%.

This post was published at Investment Research Dynamics on October 27, 2017.

The Legacy Of Reagan’s Civilian ‘PsyOps’

Authored by Robert Parry via ConsortiumNews.com,
When the Reagan administration launched peacetime ‘psyops’ in the mid-1980s, it pulled in civilian agencies to help spread these still-ongoing techniques of deception and manipulation…

Declassified records from the Reagan presidential library show how the U. S. government enlisted civilian agencies in psychological operations designed to exploit information as a way to manipulate the behavior of targeted foreign audiences and, at least indirectly, American citizens.

This post was published at Zero Hedge on Oct 16, 2017.

Pentagon Worried about Hackers Causing Stock Market Crash

The Pentagon?! But no one’s worried when stocks get manipulated higher.
It’s funny, the all-out government effort to prevent a major decline of the stock market, or of individual stocks, via manipulation or hacking. Now even the Pentagon is looking into it.
What’s funny is that everyone cheers when manipulation, hacking, and other shenanigans cause the market or individual stocks to soar. It’s just declines they’re worried about at these precarious levels.
Manipulating stocks higher is a time-honored game that routinely receives kudos from all around. The Fed printed nearly $4 trillion and cut rates to zero for eight years – no matter what the damage to the real economy – for the sole purpose of manipulating up asset prices including stock prices. ‘Wealth effect,’ Ben Bernanke called it. Corporate executives and analysts exaggerate future earnings only to deflate them at the last minute, because stock prices are ‘forward looking’ and fake future earnings is all that matters, even if reality now sucks. And on and on. Whatever it takes to push stock prices up, by hook or crook, is cool. These are our heroes.
But when some lonely dude might hack into high-speed stock trading systems or spook the trading algos, quant-fund managers, and high-speed traders and throw algorithmic trading off track to where prices might actually fall in a major way, all heck breaks loose, and the Pentagon feels empowered to step in.

This post was published at Wolf Street by Wolf Richter ‘ Oct 15, 2017.

GATA: Those Who Deny Gold / Silver Manipulation Won’t Answer Basic Questions

IRD Note: For nearly two decades, GATA has seized on Frank Veneroso’s original research which provided first-hand evidence that Central Banks were actively operating to suppress the gold and has presented direct evidence of precious metals manipulation. Beyond this, there are public admissions from Henry Kissinger and Alan Greenspan acknowledging this fact. Unfortunately, those who deny that gold/silver are manipulated have never offered any response to the direct proof that Central Banks intervene directly in gold trading. The article below presenting just the facts was published by GATA.
Newsletter writer Steve Saville of The Speculative Investor, who long has denied that manipulation of the monetary metals markets means much, has seized on the recent essay by Keith Weiner of Monetary Metals as the conclusive refutation of silver market analyst Ted Butler’s longstanding complaint that JPMorganChase has been rigging the silver market.
Weiner’s analysis, headlined ‘Thoughtful Disagreement with Ted Butler’ and posted here – LINK – argued that JPMorganChase is undertaking only ordinary arbitrage in the silver market, exploiting spreads between bid and ask prices.
Saville, in commentary headlined ‘A Silver Price-Suppression Theory Gets Debunked’ – LINK – cheers Weiner’s essay and goes on to remark: ‘Entering a debate with someone who is incapable of being swayed by evidence that invalidates his position is a waste of time and energy, so these days I devote no commentary space and minimal blog space to debunking the manipulation-centric gold and silver articles that regularly appear.’

This post was published at Investment Research Dynamics on October 9, 2017.

Six Top-Secret Experiments That Could Have Extinguished Humanity

Governments of the world have long been in the business of manipulation and power accumulation. This is ever evident in the current events we are seeing. But there were some instances in which top-secret experiments could have wiped out humanity.
It is rather scary and equally disturbing to know that the governments of the world are playing with the weather and diseases. The powers that be seem to only seek to find ways to destroy and not many want to create anything. It’s pretty sad that these six experiments were done with intentions of seeking the destruction of other human beings.

This post was published at shtfplan on October 5th, 2017.

Former FOMC Member Admits The Fed Manipulates Asset Prices

The Fed often treats financial markets as a beast to be tamed, a cub to be coddled, or a market to be manipulated. It appears in thrall to financial markets, and financial markets are in thrall to the Fed, but only one will get the last word. – Former FOMC member, Kevin Warsh – The Fed Needs New Thinking
Please note, a large portion of the source links, plus the idea for this commentary, were sourced from GATA’s latest dispatch regarding the possible appointment of Warsh as the next Fed Chairman.
The quote above is from former FOMC board member, Kevin Warsh, who appears to be Trump’s top candidate to assume the Fed’s mantle of manipulation from Janet Yellen. By way of relevant reference, Warsh happens to be the son-in-law of Ronald Lauder, who is a good friend of Trump’s. He is also a former Steering Committee member of the Bilderberg Group. GATA has published a summary reprise of direct evidence from previous written admissions by Warsh the the Fed actively manages financial asset prices, ‘including bolstering the share price of public companies’ (from link above).
In addition to stocks, Warsh admitted in the same essay that, ‘The Fed seeks to fix interest rates and control foreign-exchange rates simultaneously’ (same link above). This task is impossible without suppressing the price of gold, something which began in earnest in 1974 when, under the direction of then Secretary of State, Henry Kissinger, paper gold futures contracts were introduced to the U. S. capital markets. This memo, written by the Deputy assistant Secretary of State for International Finance and Development, was sent to Kissinger and Paul Volcker in March 1974: Gold and the Monetary System: Potential U. S.-EC Conflict (note: the source-link is from GATA – it was discovered in the State Department archives by Goldmoney’s John Butler).

This post was published at Investment Research Dynamics on October 2, 2017.

Chris Whalen On The CDO-Redux & Inevitable “Catastrophic Systemic Risk Event”

‘The great wheel of circulation is altogether different from the goods which are circulated by means of it. The revenue of the society consists altogether in those goods, and not in the wheel which circulates them’
Adam Smith, 1811
This week in The Institutional Risk Analyst, we return to one of our favorite topics – namely credit spreads – as we consider the most recent statement from the Federal Open Market Committee. Fed Chair Janet Yellen made a presentation last week to the National Association of Business Economists illustrating that while she is puzzled by low inflation, Yellen is entirely clueless as to the workings of the financial markets.
For some time now, we have been concerned that the FOMC’s overt manipulation of credit spreads has embedded future credit losses on the balance sheets of US banks. But now we are starting to see even greater signs of stress as the large Wall Street banks again return to derivatives in order to manufacture the appearance of profitability.

This post was published at Zero Hedge on Oct 1, 2017.

The Demise Of The Dollar As We Know It: ‘A Break Is Coming… On A Worldwide Basis’

The significance of the shift taking place on a geo-political basis to unseat the U. S. dollar as the world’s reserve currency cannot be understated. It is, by all means, a complete upending of the financial and economic systems as we have come to know them. According to Keith Neumeyer, the Chairman of First Mining Finance and Chief Executive Officer of First Majestic Silver, the world’s purest silver producing mining company, the move is already taking place with countries like China, Russia, Venezuela and Iran already beginning to trade commodities with Yuan, Rubles and gold.
Amid a recent announcement about developments in the gold and silver mining industry discussed in the following interview with SGT Report, Neumeyer, who previously called out, in very public fashion, the manipulation of precious metals by a small concentration of market players, says that the global currency wars currently playing out on the monetary battlefield will lead to significant price increases in the world’s most trusted hard assets of last resort.

This post was published at shtfplan on September 24th, 2017.

Yesterday, All My Market Troubles Seemed So Far Away…

We’re finally here. About 9 years after QE1 began, QT is about to start. If one believes that the stock market still is a discounting mechanism, then have nothing to fear with QT and that maybe it will actually be like ‘watching paint dry’ as Fed members so desperately want it to be. After all, the S&P 500 is at an all-time high. If you think, like me, that the stock market is not the same discounting tool as it once was because of the major distortion and manipulation of markets via central market involvement and the dominance of machines that are reactive instead of proactive in response to news, then we must review again the previous experiences when major Fed changes took place. After all, they were all well telegraphed as this week’s likely news has been.
Before I get to that, let me remind everyone that the 3rd mandate of QE was higher stock prices. Ben Bernanke in rationalizing the initiation of QE2 in a Washington Post editorial back in November 2010 said in regards to QE1 and the verbal preparation for QE2: ‘this approach eased financial conditions in the past and, so far, looks to be effective again. Stock prices rose and long-term interest rates fell when investors began to anticipate the most recent action.’ He then went on to say ‘higher stock prices will boost consumer wealth and help increase confidence, which can also spur spending. Increased spending will lead to higher incomes and profits that, in a virtuous circle, will further support economic expansion.’ Yes, the belief in the wealth effect which hasn’t worked in this expansion. Hence, the record high in stocks last week and the 2.9% y/o/y rise in core August retail sales, both below the 5-year average and well less than the average seen in the prior two expansions.

This post was published at FinancialSense on 09/18/2017.

Euros, Dollars and Central Bank Manipulations

Peter Schiff has been talking a lot about the weakening dollar. In a recent Schiff Report video, Peter said he sees the ‘mother of all dollar bear markets’ on the horizon. The dollar has already dropped about 12% on the year, and it’s on track for its worst year since 1985. That was the beginning of a decade long bear market for the dollar. Peter says he thinks this one will be worse.
I think this one is going to be the mother of all dollar bear markets, and I think the dollar is going to fall much further than it did in any prior bear market.’
The following article by economist Dr. Daniel Lacalle, published at the Mises Institute FedWatch, provides some further insights into monetary policy by looking at the strength of the euro in relation to the dollar. His analysis sheds light on the relationship between strong and weak currencies, and the cost and benefits of each.
The primary purposes of the incorrectly named ‘unconventional monetary policies’ are to debase the currency, stoke inflation, and make exports more competitive. Printing money aims to solve structural imbalances by making currencies weaker.

This post was published at Schiffgold on SEPTEMBER 14, 2017.

GOLD HAS BROKEN OUT – DON’T BE LEFT BEHIND

The coming gold and silver moves in the next few months will really surprise most investors as market volatility increases substantially.
It seems right now that ‘All (is) quiet on the Western Front’ as Erich-Maria Remarque wrote about WWI. Ten years after the Great Financial Crisis started and nine years after the Lehman collapse, it seems that the world is in better shape than ever. Stocks are at historical highs, interest rates at historical lows, house prices are booming again and consumers are buying more than ever.
HAVE CENTRAL BANKS SAVED THE WORLD?
So why were we so worried in 2007? There is no problem big enough that our friendly Central Bankers can’t solve. All you need to do to fool the world is to: Print and expand credit by $100 trillion, fabricate derivatives for another few $100 trillion, make further commitments to the people in forms of pensions and medical, social care for amounts that can never be paid and lower interest rates to zero or negative.
And there we have it. This is the New Normal. The Central Banks have successfully applied all the Keynesian tools. How can everything work so well with just more debt and liabilities? Well, because things are different today. We have all the sophisticated tools, computers, complex models, making fake money QE, interest rate manipulation management and very devious intelligent central bankers.
Or is it different this time?

This post was published at GoldSwitzerland on September 7, 2017.

You Live and Breathe Economics

‘Economics puts parameters on people’s utopias.’
Yes. That’s exactly it. That’s why the politicians hate economics. That’s why the media are so… selective over which economists they call on to talk about policy.
That’s why the economics departments in colleges are put down by the sociologists, philosophers, literature professors and just about anyone else who has romantic longings for a coerced utopia.
‘The teachings of the principles of economics should inform as much on what not to do, perhaps even more than providing a guide to public action.’
That’s it again. Don’t control prices. Don’t socialize medicine. Don’t raise taxes. Don’t inflate the money supply. Don’t put up trade barriers. Don’t go to war. Economists just keep bursting people’s bubbles. And it’s because economists say these things that the ruling class wants them to shut up.
It’s been going on for hundreds of years. Every generation for the past 500 years has seen the battle wage between those who want to use the power of the state to fit some daydream on one hand and the economists who have seen the futility in this manipulation and warn against it on the other.

This post was published at Mises Canada on SEPTEMBER 8, 2017.