Posts Tagged ‘naked short selling’

Gold and U.S. Treasury and Mortgage Bonds Naked Shorts As Liquidity Machine

Thursday, August 12th, 2010

Full story here from Jim Willie a/k/a The Golden Jackass. Jim usually writes about once every couple of weeks. Now, as a result of financial foment, I’m seeing him once or twice a week. Non-financial interlude here.

The article of July 22nd on “Smoking Guns of USTreasury Monetization” hit more desks, raised more dust, and brought more attention than expected to the grand fraud in progress using USGovt debt securities. The glaring actions continue without any hint of legal prosecution but deep foreign resentment among creditors as publicity mounts. Nobody appreciates counterfeit of the instruments held in great volume as supposed savings. The only counterfeit of honorable origin is of Microsoft products, since mostly stolen and surely not the output of in-house innovation. (more…)

Max Keiser interviews Jim Willie

Saturday, July 31st, 2010

You can see the interview here. A fabulous bombshell of data on precious metal market manipulations, politics, finance and conspiracy. My kind of stuff.

Wall St threatens Congress as financial reform is debated

Thursday, May 20th, 2010

Full story here.

Naked shorting is illegal in the US, and for very good reasons. On a larger scale, it is used for price manipulation, and is the equivalent of counterfeiting. The removal of the uptick rule by the SEC on July 6, 2007, which had been created in 1938 as part of the New Deal regulatory reforms, cleared the way for its more heavy handed uses and control frauds.

The ban on naked short selling was not enforced by regulators who were willing to turn a blind eye to blatant market manipulation. Under the DTCC regime it turned epidemic. The alarm was raised by many whistle blowers who were either ignored or vilified by the corporate media.

Let me be clear on this. I am not opposed to short selling. It is a trade that has many legitimate uses. It is naked short selling that lends itself so readily to abuse, particularly when there are not limits on position sizes and massed selling to drive down prices. The deregulatory movement, based on such lofty principles, has become nothing more than a means to a fraud, systematically knocking down all the regulatory safeguards that were put in place to protect the public during the Great Depression.

And this was the result of a long and expensive campaign, led by the wealthy elite and the Wall Street banks, to lobby the Congress and dupe the people to energize their frauds. As such, it shows premeditation and deliberate intent, the organized corruption of one of the most connected of all global resources, the US financial system and control of the international monetary reserves. (more…)

Facing a total breakdown of financial markets

Thursday, October 29th, 2009

Full story here from The International Forecaster. I guess he’s not watching CNBC (well, neither is anyone else)– they said the economy was out of a recession. Just tell that to the 20% unemployed and 18.8 million vacant homes…

“This is another victim of the FDIC Friday Night Financial Follies.

Early Friday morning, state and federal agents walked into the Bank of Elmwood and closed the failed 49-year-old independent bank after a year of struggling to improve a bleak financial situation, officials announced Friday. (more…)

Deep Capture

Friday, March 13th, 2009

Full story here. From the story Deep Capture by Mark Mitchell. If only this were a soap opera, I could stand the level of lies, deception and general histrionics this informative and lengthy article brings up. Please read it all at the link above.

“…the Securities and Exchange Commission has published a list of more than 300 companies whose stock has been sold but never delivered in excessive quantities. In other words, a significant fraction of the stock sold in more than 300 companies is phantom stock. If you think you own shares in one of these companies, the chances are that a broker has sold you air to satisfy a crooked hedge fund client. The computer might say that you own stock, but in reality, you do not.

In addition to the 300-plus companies on the SEC’s list, as many as 1,000 companies have already been wiped off the map by illegal short-selling, according to some experts.

Short-sellers’ collusive behavior and dubious tactics might have contributed to the demise in March, 2008, of Bear Stearns, America’s fifth-largest investment bank. The Chairman of the SEC recently told the U.S. Senate that the SEC is investigating precisely this possibility. The consensus among economists is that if the Federal Reserve had not intervened, the fall of Bear Stearns would have triggered the collapse of the American financial system. Similarly collusive ‘bear raids’ contributed to the great crash of 1929.

SEC officials fail to prosecute the criminals even as they suggest that miscreant short-sellers have put the American financial system at morbid risk.

Clearly, this is a scandal of epic proportions.

Which raises the question: Where the hell is our media?”

Me again. “Where is the media?” Answer: they are in bed with the crooks and are providing the suckering and needed distractions in order to pull this scam off. If you needed a reason to hate Jim Cramer (apart from empirical ones) this will do it for you.

The article also suggested that the “cleanup” for such a massive quantity of non-existent stock could run as high as $1 trillion. Gads, I had hoped to avoid concluding that Spam, gold and silver (and possibly toilet paper) were the only things that would preserve humanity, but I’m having trouble burying that nagging doubt.

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