Three SWIFT transfers of $5 trillion each have supposedly been executed – initiated from the Federal Reserve Bank of New York, to JP Morgan Chase, to HSBC/London, and finally to the Royal Bank of Scotland. Executives at HSBC and RBS have verified the receipts of the transfers, but the money isn’t in any accounts and the purpose of the transfers is unclear.
According to Lord James of Blackheath, there are three possibilities:
There may have been a massive piece of money-laundering committed by a major Government who should know better.
A major American department has an agency which has gone rogue on and has created a structure out of which it is seeking to get at least €50 billion.
This is an extraordinarily elaborate fraud, which has not been carried out, but
which has been prepared to provide a threat to one or more Governments if they do not make a pay-off.
Fox has fired Judge Napolitano after this rant. His intimations were a little too close to the truth. No, the main-stream media, controlled by the established powers, cannot have a loose cannon like this, can they?
But in a beautifully articulated monologue in his final episode, Napolitano sums up America’s root problems and encourages the people to fight for their freedoms against the tyranny of government!
Dr. Paul Craig Roberts served as the Assistant Secretary of the Treasury under President Ronald Reagan. He should know a thing or two about U.S. economic policy. In this brief and simple article, he explains how government statistics on inflation, housing, employment and GDP have consistently under-reported actual data.
“In place of recovery, we have hype from politicians, Wall Street, and the presstitute media.”
In this interview with Jim Sinclair, the Credit Default Swap (CDS) market is thoroughly discussed. There are 5 major banks that control almost all of the CDS contracts issued. These 5 banks also heavily influence the International Swaps and Derivatives Association (ISDA), which will decide whether defaults actually occur when the sovereign nations of Europe don’t pay their creditors. For example, when Greece was allowed to free themselves of 50% of their debt recently, the ISDA decided that was NOT a default, hence the CDS contracts the 5 major banks issued were not triggered. Those that bought the CDS contracts were screwed. And now the ISDA is deciding whether or not the current 70% haircut being imposed on Greek bond holders is a default. Obviously, the ‘self-governing’ CDS market is not going to shoot themselves, so the CDS purchasers are going to be screwed again!
Sinclair points out that this credit event is signaling global quantitative easing because if Greece and the other sovereign nations can keep selling bonds without the obligation to pay back creditors, bond buyers will get wise to the scheme and not purchase. QE will therefore be necessary – money will be created out of thin air to buy the bonds no one wants to buy. This will support much higher prices for precious metals and general equities.