Removing Any Doubt

You may have missed it. In fact, you probably did. While you were out enjoying your holiday, we saw more proof of how Cartel algos are set to manage and control price, regardless of the day or time.

Just after 1:00 p.m. EDT on Monday, a very curious drop in the spot price of gold occurred. "Curious" in that all global futures markets were closed, with the U.S. electronic trading closed until later today, opening at 6:00 p.m. New York time .

But the futures markets being closed didn't stop a trade from effecting the spot price of gold which, at 1:02 p.m., fell by nearly $5 in an instant. This "trade" was noticed by ZeroHedge and it immediately caught my attention. The damage, however, was minimal and the spot price almost immediately recovered. As I type, spot is down about $1 and up over $3 from the low.

"What's the big deal, Turd", you ask?

Check this out from the RanSquawk headline service at ZH:

What's that? "Spot gold moves to fresh lows and breaks below the 200-day MA"..."although there is no fundamental news".

That's interesting in its own right but here's your money shot, also from RanSquawk:

"On 26th May, 2014, when US markets were closed and electronic trade was halted, a similar move occurred at the same time, although the move was later busted by some charting systems".

So let me see if I've got this straight....

Today is Monday but not just a regular Monday. Today is Labor Day in the U.S. The U.S. markets are all closed. Yet, someone or something runs an algo that hits spot price at 1:00 pm.

May 26th was not your regular Monday, either. That day was Memorial Day in the U.S. and the U.S. markets were similarly closed. Yet, someone or something runs an algo that hits spot price at 1:00 pm.

Hmmm...Do you have any remaining doubt that there are Cartel algos, pre-programmed to run buy/sell programs at specific times during the day or night?

And now you know why I so often publish these 3-day charts from kitco. Here are just a few recent examples:

Look, you can believe what you want about "free and fair markets" and you can continue with your head in the sand regarding precious metals price manipulation. Knock yourself out. But these "markets" are clearly dominated and manipulated by malicious algorithms, designed to cap and manage price 24 hours/day, 5 days/week. The events of this past hour should help to prove the case beyond any doubt.




Turd Ferguson's picture

And I see that ZH has picked this up, too

F.Capra's picture

Sharp Eyes CRAIG

You are on the target! I was following prices on The Bullion Desk and there was a sharp break downward which has now been restored to slightly up on Gold!

AIJ's picture

Craig, A question

I have listened  to your Rob Kirby interview a few times.

About half way he states two things:

1. Sept is the US fiscal new year, which portends a change in fiscal policy

Q. What is this change. Does he know something SPECIFIC he's not saying?

2. A big buyer is going to make a C change in the metals market soon.

Q. Who is this?

I would have loved for you to dig deeper; however, you probably didn't want to push him.

What's your speculation on these two questions?

Interesting times ahead.

Bollocks's picture

The smoking gun

is on fire.

DeaconBenjamin's picture

Sept is the US fiscal new year, which portends a change in fisca

Doesn't the US fiscal year start October 1?

Thorus's picture

Note to self . . .

Note to self - on a day I decide to buy, only buy gold after 1 PM once that down-spike has hit.

Thanks Craig,

Best Regards,


Thorus's picture

US Fiscal Year

DeaconBenjamin - Yes, the US Federal Government fiscal year starts on 1 October each year.

Best Regards,


SS121's picture

i doubt there are any trades behind the chart

if it's even more fake than manipulated, then this weekend's chart drill was probably just a little Santa Claus validation.  

The system saying... "see kids, you heard the stories, and now LOOK, there are the presents,... Santa Claus (a "traded" market) must be real"

of course ZH picked up on it,  

and honestly, those repeating chart patterns look more to be driven by 1 software app, than a multitude of different Algos.  (multiple Algos would not repeat same pattern at different prices, an app with programmed volatility and ranges would)

...just .02 from this Only Silver and Gold are Money/the "system" is hoax perspective.


Colonel Angus's picture

As my man Elwood said...

"I know all about exploitation. I've been exploited all my life." Now substitute in manipulation.

I've been thinking the shenanigans were going to blow up for quite some time, but now we've got all this in your face stuff with the markets. And then there is Ukraine, and ISIS, and Libya, and Syria, and Europe cracking up. Surely it isn't much longer that the pathetic, er, great Keynesian experiment holds up. 

I'm stacking...silver and gold, but before that is knowledge, food, water, infrastructure for our little out of the way farm, guns and ammo. I do not trust the financial markets, despite the fact (or probably because of the fact) that a lot of my research centers around these "markets." I've headed to the underground myself, both in research and in life. I pay as many people as I can in cash, when they will accept it. I've been bartering like crazy. And I've been helping the neighbors and getting help from them. Starve the beast. Stop playing their games. Get physical on everything, nothing in manipuflated paper. I'm glad I have.

purest_green's picture


Sorry that this is not topic specific........I am neither a gold bug or bear (still trying researching it), but am staunchly anti fiat, fwiw though am just intrigued how gold price, if this NWO exists, was allowed to rise to c$2000/oz so recently?

Had they lost control?

Were they long gold?

Apols if these subjects have been covered prev, appreciate links if so.

Barfly's picture

What's the signal?

What's the real message being telegraphed by the chart? Don't buy gold, we'll take the price down. Once again, the message of inaction shines through, encouraging the sheeple not to act.

Markedtofuture's picture

God bless TF and his followers

@ Turd ...response from article sent to Bill Murphy... Removing Any Doubt

God bless TF and his followers

Myself and CP have been on this case for 15 years.

all the best,


sierra skier's picture

Computer Controlled Markets

I guess if you are in charge of manipulation you don't get the opportunity to take days off like the rest of the folks on holidays. It must be tough keeping everything just like your managers wish.

The charts have so many of these indications of the market being controlled that the regulatory agencies must be embarrassed about their own lack of action in bringing credibility to the markets.

I just can't imagine putting my fiat in the paper markets where they can they can do as they please anytime they wish. I didn't work away my life and save for a reasonably comfortable retirement to have our leaders and bankers relieve me of my retirement  and put me on the street.

Markedtofuture's picture

Even the Council on Foreign Relations Is Saying It

Even the Council on Foreign Relations Is Saying It: Time to Rain Money on Main Street

Posted on September 1, 2014 by Ellen Brown

You can always count on Americans to do the right thing, after they’ve tried everything else.                      —Winston Churchill

When an article appears in Foreign Affairs, the mouthpiece of the policy-setting Council on Foreign Relations, recommending that the Federal Reserve do a money drop directly on the 99%, you know the central bank must be down to its last bullet.

The September/October issue of Foreign Affairs features an article by Mark Blyth and Eric Lonergan titled “Print Less But Transfer More: Why Central Banks Should Give Money Directly To The People.” It’s the sort of thing normally heard only from money reformers and Social Credit enthusiasts far from the mainstream. What’s going on?

The Fed, it seems, has finally run out of other ammo. It has to taper its quantitative easing program, which is eating up the Treasuries and mortgage-backed securities needed as collateral for the repo market that is the engine of the bankers’ shell game. The Fed’s Zero Interest Rate Policy (ZIRP) has also done serious collateral damage. The banks that get the money just put it in interest-bearing Federal Reserve accounts or buy foreign debt or speculate with it; and the profits go back to the 1%, who park it offshore to avoid taxes. Worse, any increase in the money supply from increased borrowing increases the overall debt burden and compounding finance costs, which are already a major constraint on economic growth.

Meanwhile, the economy continues to teeter on the edge of deflation. The Fed needs to pump up the money supply and stimulate demand in some other way. All else having failed, it is reduced to trying what money reformers have been advocating for decades — get money into the pockets of the people who actually spend it on goods and services.

A Helicopter Drop on Main Street

Blyth and Lonergan write:

Mr. Fix's picture

New Doctor Jim Willie: (1 1/2 hour).

crylandjr's picture

Re: Ellen Brown

"home | Ellen Brown: Critique    
Ellen Brown's Web of Debt Is an Anti-Gold Currency, Pro-Fiat Money, Greenback, Keynesian Tract. Here, I Take It Apart, Error by Error.
Gary North
Ellen Brown has thrown in the towel. She is no longer willing to argue with me. I finished my critique of her on November 17, 2010. On November 20, she publicly switched sides. She came out in favor of Bernanke, the Federal Reserve System, and quantitative easing.

Hard to believe? Read it here:

I spent almost 200 hours over a two-month period refuting this left-wing lawyer, line by line. I said repeatedly that she is intellectually unreliable. She has just proved my case. She has joined the Federal Reserve's cheeleaders.

On November 24, 2010, she followed up with a long article in praise of quantitative easing. She said quantitative easing is the Populist solution. It took me 52 articles and 30 responses, but I finally flushed her out.

Therefore, the following is ancient history. Here is what this department originally said.

* * * * * * * * * * *
Ellen Brown is devoting her life to a cause. She wants Congress to take over the printing presses and provide 100% of America's money: fiat money, with no gold or silver backing.

She says that if we allow this, Congress can then:

1. Get rid of the income tax
2. Pay off the national debt
3. Pay off Social Security
4. Without any price inflation
To see what she believes in, click here:
Is she nuts, or what?

Her 2007 book, The Web of Debt, has become a best-seller within the Patriot movement. This indicates the extraordinary intellectual vulnerability of the Patriot movement. Its members cannot distinguish conservatism from radical leftism. This book promotes the following:

The Populist economics of America's far Left
A vast expansion of Federal government welfare
Pure fiat money: printing press money
Total Federal government control over money: "Obama dollars"
Legal tender laws that force people to accept Obama dollars
The American Civil War as a great engine of economic growth
Franklin Roosevelt's New Deal as a great economic program
The gold coin standard as a terrible evil that restrains the state
Ellen Brown is the latest in a long line of pro-fiat money, anti-gold currency, monetary statists who have infiltrated the conservative movement.

They have accomplished this for over 50 years by the tactic of wrapping themselves in a flag of opposition to the Federal Reserve System. I call them false-flag infiltrators. I have written about them here:

False-Flag Infiltrators
False-flag infiltrators are remnants of a left-wing American political movement of the late 19th century: the Greenbackers, named after the green currency issued by the North during the Civil War. These paper bills were unbacked by gold. Consumer prices rose by 75%, 1861-65. The Greenbackers were opposed to the gold standard because it kept prices low. They wanted the government to inflate the currency, so that debtors could pay off their debts with cheap money.

They had a small political party for almost two decades, the Greenback Party. It 1878, it merged with a labor Party to become the Greenback Labor Party. It went out of existence after 1888. Its main leader, James Weaver, co-founded the Populist (People's) Party in 1891. It was a farm-bloc party that promoted fiat money in order to let farmers pay their debts with cheap money and also because they thought inflation would raise farm products' prices more than the prices of other goods.

There was never any question of the Greenbackers' politics. They were leftists, and openly sided with government controls on the economy.

Brown praises these left-wing parties on page 13 of Web of Debt. She writes: "They advocated expanding the national currency to meet the needs of trade, reform of the banking system, and democratic control of the financial system." In short, they preached what she preaches.

This woman is no conservative.

The Populist movement went out of existence after 1896, after the anti-central bank, anti-gold standard, radical leftist William Jennings Bryan failed to beat William McKinley for President the first time. He failed again in 1900. The last pro-gold standard Democrat lost to Teddy Roosevelt in 1904. Bryan got one more shot in 1908. He lost. From then on, both political parties were pro-central bank.

The Greenbackers were without any political party after 1896. So, they switched strategies. They allied themselves with the anti-Federal Reserve movement. In the 1930s, the main voice was Father Charles Coughlin, an anti-Semitic radio preacher who was a Greenbacker. His outlook was clear. He was a leftist. He wrote:

We maintain the principle that there can be no lasting prosperity if free competition exists in industry. Therefore, it is the business of government not only to legislate for a minimum annual wage and maximum working schedule to be observed by industry, but also to curtail individualism that, if necessary, factories shall be licensed and their output shall be limited.
When his bishop forced him to quit writing or speaking on politics in 1942, the Greenbackers were left without a major spokesman.

Another Greenback author in the 1930s was Gertrude Coogan. Her books remain in print. She was never known outside of Greenback circles. I have written a free minibook refuting her ideas (and therefore also Brown's): Gertrude Coogan's Bluff.

After 1952, they gained an outlet when The American Mercury went Greenbacker and anti-Semitic. In a series of articles, later released as a booklet, Money Made Mysterious (1959), the Mercury presented the Greenback case. This magazine was on the extreme Right. One of its occasional authors was the American Nazi Party founder, George Lincoln Rockwell.

Greenbackers began to infiltrate the John Birch Society after 1964, because the JBS switched from anti-Communism to anti-conspiracy and anti-Federal Reserve at the end of 1964 with the publication of Robert Welch's book, More Stately Mansions. They were not successful. Gary Allen, American Opinion's main author on the banking issue, believed in the gold standard. He was a follower of me on the money question, and I follow Rothbard.

They have remained inside the far Right, but they are still Populist radicals, still in favor of pure fiat money, which they call "sovereign money." For a list of about three dozen books by Greenbackers over the last 80 years, click here. Ellen Brown today is their leading author. She begins her book by tracing her ideas back to the Populists.

I am devoting this department to a line-by-line refutation of her book, The Web of Debt, and to occasional responses to her website,

I have good news. You do not have to buy her book in order to verify my direct quotations from her book. Google has reproduced 90% of the book. You can read most of it online. Access it here.

Ellen Brown is a lawyer, not an economist. For the sake of her clients, I hope she is a better lawyer than she is a monetary economist and monetary historian. I surely hope she is a better lawyer than she is an historian.

Ellen Brown is a Keynesian, a mercantilist, and a left-wing Populist who promotes the construction of a Federal welfare state by means of fiat money. She is quite clear about what she wants from the Federal government.

The availability of funds for a whole range of government services that have always been needed but could not be afforded under the "fractional reserve" system, including improved education, environmental cleanup and preservation, universal healthcare, restoration of infrastructure, independent medical research, and development of alternative energy sources. [Web of Debt, p. 458.]
This is Nancy Pelosi's vision for America. Is it yours?

Ellen Brown is also the least competent amateur historian I have ever encountered, supporting her entire case for fiat money with bogus quotations. I have devoted two sections of this site to her errors:

Historical Errors
Economic Errors
Anyone who supports what she supports would be wise not to quote her again, and to remove all previous references to her in his writings. There is a real possibility that the the brighter followers of these people will contact them and ask: "How can you defend your position by using anything as bad as The Web of Debt? It's one string of falsehoods, beginning on page one and stretching to page 478." I offer this warning:

The Prophet Isaiah warned the Israelites not to flee the Assyrian empire by fleeing to Egypt. He referred to Egypt as a broken reed (Isa. 36:6). Ellen Brown is a broken reed. Do not flee to her book to support your Populist nostrums.
Then get out of the Patriot movement. This infiltration has gone on long enough. Move on to They agree with your welfare state economics. It's your task to sell them on Obama dollars. That should not be very difficult.

Ellen Brown's War on the Constitution
Gary North
Ellen Brown is a Leftist. She keeps getting clearer. I keep responding. . . . keep reading 
Ellen Brown: Hitler's Cheerleader
Gary North
Ellen Brown thinks that Hitler's economic system saved Germany. She is a welfare statist, a Keynesian, a Greenbacker, and an opponent of the gold standard. She is getting a hearing in Right-wing circles. . . . keep reading 
Ellen Brown Calls for Massive Government Spending Increases. She Says the Government Can Mint $1 Trillion Coins to Do This.
Gary North
Some conservative critics thought I was too hard on poor Ellen brown, their hero. Well, this should make it clear what this woman is all about. . . . keep reading 
Peter Schiff Takes on Ellen Brown in an Interview. She Should Have Declined the Opportunity.
Gary North
Ellen Brown should start being more careful about accepting interviews. . . . keep reading 
Ellen Brown Says She Has Not Spent Time Reading My Theories of Money. True. She Has Ignored All of My 21 Criticisms of Her Economic Theories.
Gary North
Ellen Brown refuses to answer "The Daily Bell" when asked about my 21 criticisms of her economic theory. I do not blame her one little bit. When you are beaten, shut up. . . . keep reading 
Gary North Interviews Ellen Brown on QE2 (A Cartoon Fantasy)
Gary North
Ellen Brown now supports Bernanke's quantitative easing 2 (QE2). Here, mean old Gary North has a little fun with lawyer Brown. . . . keep reading 
Bait-and-Switch: Ellen Brown Announces That "QE2 IS the Populist Solution." Her Followers Just Sit There.
Gary North
Ellen Brown has reaffirmed her defenction to the FED's camp. She says that was always her intention. . . . keep reading 
Ellen Brown Switches Sides, Praises Bernanke and the Federal Reserve, and Calls QE2 the FED's Self-Redemption.
Gary North
Ellen Brown is a lawyer. She has just settled out of court with Bernanke. Are you surprised? . . . keep reading 
Ellen Brown Responds to My 31 Historical Criticisms. Now It's My Turn Again.
Gary North
Ellen Brown is desperate. Let me show you just how desperate. . . . keep reading"

I did not paste the whole page, don't know the copyright issues. Lots more links on Gary North's sight. 


Urban Roman's picture

Silver too

How can I add to my stack at these low low prices?

DeaconBenjamin's picture

Re: Ellen Brown

kardnul's picture

WealthWatchman series

If you have spouse, family members, friends, etc. who thinks you're a freaking nutball for stacking gold and silver because you believe the fiscal and monetary policies of the gov't are unsustainable, leading to epic financial collapse or WW3...OR WHATEVER....and would like to try enlightening them, I recommend trying to get them to read these very well written weatlhwatchman series of articles. I think they are not too technical as to be 'over their head'

Part 1

Part 2

Part 3

Part 4

Part 5

PS. Good luck with that..

Longstreet's picture


Turd, With the BS Gold Fixing you just referenced are you still sticking to your year end targets?

If so why/how will this Fixing be overcome? 

transplanted baby's picture


Check out the video link at Paul Craig Roberts site on the war in Ukraine. 30 minutes, in Russian, with English subtitles. A must see. Makes me want to flee to my field.

transplanted baby's picture

just a follow up

the link I mentioned is in his article, "How can you tell Russia has invaded Ukraine".

CPE's picture

So when...

Do we get to see Greenspin, Helicoper Ben, & Fellen do a perp walk?

Mr. Fix's picture

Stealth inflation through planned obsolescence: An essay

We label it “stealth inflation”, “planned obsolescence”, or just plain old theft and fraud.

I thought I'd write a little essay, outlining some of my own experiences how we are all being ripped off, and since I could not find an article outlining some of these topics, I felt compelled to write one of my own.

Of course we are all aware that the “official inflation figures” of approximately 2% are completely bogus, ShadowStats has it north of 10%. But that is only the tip of the iceberg.

The things that I've noticed throughout my life, and are becoming particularly blatantly apparent in the “modern age”, is that the population is being ripped off in a major way.

Some of these are not readily apparent, and much of this is just my own personal opinion, and you are all free to disagree with any of my points, but I have been able to conclude throughout my own walk through life, that the products that we are buying, are in many ways inferior to those available to our own parents.

First I'd like to take on our government controlled automotive industry.

As someone who has been working on cars for over 40 years, I became aware of the concept of “planned obsolescence” before I was old enough to drive.

Generally speaking, cars continued to improve both in design, materials, and workmanship up until the late 1960s, and for some, early in the 1970s.

There was a dramatic reversal of this process starting in the mid-1970s, and  a lot of it is attributable to “the Arab oil embargo”, and the sudden need for more efficiency, as the price of cars continued to increase, the quality of its materials, the basic design, and more importantly, design changes specifically engineered to cause premature failure slowly worked its way across the entire industry, at least in the United States.

The actual metal itself, such as the cast iron used in an engine block, became much softer, whereas parts that were previously impervious to wearing out, would very quickly become unserviceable. The difference between a 1970 engine block, and a 1980 engine block of exactly the same design, you will find that the metal became so much “softer”, that in the earlier engines, you could easily break a bolt in a head or intake manifold, where in the later engines, the threads would simply pull out.

In the “older days”, engines were regularly rebuilt, by changing bearings, rings, and seals, one could reasonably expect many hundreds of thousands of miles.

The newer engines, would lose substantial amounts of surface on the crankshaft, cylinder walls, and combined with the “softness” of the metal, just turning the bolts on a worn-out engine would often result in them all breaking off, massively increasing the complexity of the job.

In another attempt at making a car lighter, and more economical, large amounts of plastic and aluminum were introduced, all of which would warp or melt at high temperature.

This combined with tolerances between pistons and valves being reduced to the point that the engines would self-destruct in the event of a timing failure, many “self-destruct features are engineered into the modern engine.

Almost all replacement parts are now inferior to the original equipment.

The entire “check engine” light, is a complete scam, there are literally thousands for reasons for that light to go on, few of which have any effect on a cars drivability, and yet at least in my state, and I am assuming most, a car will no longer “pass inspection” if that light is on. Repairs can easily run into the thousands of dollars on a late model car to accomplish absolutely nothing but turn the light off. Many late-model cars are now turned into scrap metal even though they are perfectly drivable, for no reason other than a costly estimate on a “check engine light repair”. The insidiousness of this scam runs real deep, and I don't have the space or the wherewithal to put it all into this essay.

As some of you know, the cars that I drive daily are over 40 years old. But it's not just me, I have customers who come to me to keep their fortysomething year-old cars running.

I'm beginning to suspect the possibility that this is not to be for much longer.

At my local gas station, the price of regular fuel actually went down a couple of weeks ago, to “only” four dollars a gallon, while premium went up to $4.60.

I've noticed recently, that on my old cars, I have had to retard the timing significantly, to keep them running even on premium. This makes them run hotter, especially when the air conditioner is on, and gas mileage has gone down significantly.

My wife and I also have a matching set of Subaru Outbacks, which until a couple weeks ago ran fine on regular fuel. Very suddenly, they both require premium now,  otherwise, they no longer climb my driveway.

The only thing that has changed is the gasoline. According to the owner of the gas station I frequent, (who would never put regular  in his own car),  says that the ethanol content of the gasoline is increasing, and he suspects that his higher than what is stated on the pump. If you guys think that “government numbers” to be “fudged”, it is my assertion that “octane ratings” have become meaningless.

What about major appliances?

My hot water heater is over 25 years old, those of similar design, now rarely last more than a couple of years.

My father has replaced his cast iron boiler 3 times in the last 10 years, it's the same brand as the one in the house I grew up in, still running 50 years later.

My refrigerator is over 25 years old, and yet new ones rarely last five years now. 

All of the electronic gadgets built into what used to be very simple controls for dishwashers, washing machines and dryers, and air conditioners, are items that I have to replace regularly, when the mechanical counterparts that they replaced from an era gone by seemed to last forever.

Moisture and condensation devastates these electronic devices, why are they inside appliances that are subject to constant moisture and humidity?

Back in the 80s & 90s, I could take an automotive computer and throw it in the garbage, and replace the fuel injection with a carburetor, and the electronic ignition with a set of points.

The modern car leaves no such option available. And even if I could do it, it would be illegal.

About 20 years ago, one of my friends, let's call him John, sold his 72 Chevy pickup truck to another friend of mine named Jim.  John bought a brand-new Chevy pickup truck with his “employees discount”. Before he even had  it paid off, it needed a new engine. Being unable to afford one, he traded it in on another “new and improved” Chevy pickup truck. Once again, the vehicle did not outlast the payment schedule, as it needed thousands of dollars worth of repair that he could not afford.

John has replaced his pickup truck four times now, and has recently gone bankrupt with his business, and his vehicle has been repossessed.

Jim still drives his 72 Chevy pickup truck.

We have the technology to make things last virtually forever, and yet the lifespan of major appliances keeps going down, not up.

Upon careful examination of the reasons as to why modern cars and  appliances have become disposable, is because they were designed to fail from the start.

This is what is passing for “economic activity” these days. Just like Paul Krugman's “broken windows” theory, it seems to me that a lot of economic activities these days are for the sole purpose of replacing defective and poorly designed consumer goods.

I think it all boils down to theft on a major scale, affecting virtually every industry, and it is driving many to the poor house without even knowing why.

Those of a generation younger than me, just except that things “wear out”. Those that are of a generation older than me, can't believe how crappy the “new stuff” is.

I'm just stuck in the middle running around fixing it all.

This is the most partial of lists,

it's just what was on my mind today,

and I felt like a rant.

Pardon me.

crylandjr's picture

H/T Mr. Fix

Awesome post! 

Markedtofuture's picture

Re: Ellen Brown

She has written several articles over the years about the Bank of North Dakota model.

Ellen Brown is an attorney, founder of the Public Banking Institute, and author of twelve books, including the best-selling Web of Debt. In The Public Bank Solution, her latest book, she explores successful public banking models historically and globally. Her 200+ blog articles are at

Public Banks are ...

• Viable solutions to the present economic crises in US states.
• Counter-cyclical, meaning they are capable of reducing the negative impact of recessions, because they can make money available for local governments and businesses precisely when private banks decrease lending.
• Potentially available to any-sized government or community 
able to meet the requirements for setting up a bank.
• Owned by the people of a state or community.
• Economically sustainable, because they operate transparently according to applicable banking regulations
• Able to offset pressures for tax increases with returned credit income to the community.
• Ready sources of affordable credit for local governments, eliminating the need for large “rainy day” funds. 
• Required to promote the public interest, as defined in their 
• Constitutional, as ruled by the U.S. Supreme Court

... and are not

• Operated by politicians; rather, they are run by professional
• Boondoggles for bank executives; rather, their employees are
salaried public servants (paid by the state, with a transparent pay structure) who would likely not earn bonuses, commissions or fees for generating loans.
• Speculative ventures that maximize profits in the short term, 
without regard to the long-term interests of the public.

Did You Know ...?

Public banking was first introduced to the middle colonies in America by the Quakers in the original colony of Pennsylvania. Read about it on page 442 of Ben Franklin's memoirs. Other colonial governments also established publicly-owned banks. The concept was later embraced by the State of North Dakota, the only state to currently operate its own bank.

As of the spring of 2010, North Dakota was also the only state sporting a major budget surplus; it had the lowest unemployment and default rates in the country; and it had the most community banks per capita, suggesting that the presence of a state-owned bank has helped, not hurt, the local banks. More ...

AlienEyes's picture

@ T.F. & Fix


You absolutely nailed it this time. Brilliant ! That said, watch your back and prepare for  an audit. Avoid tall buildings and banks.

There are many out there with their head in the sand but far more with their head up their ....well, you know. The nation's proctologists are in for a huge windfall.  surprise



Glad you're back ! Great rant.  yes

sierra skier's picture

So True Mr Fix

I discovered planned obsolescence back in the 70s and have watched it progress over the years. One claim to replace the old refrigerator or washer/dryer is energy efficiency. So if you replace an appliance to save operating costs is it efficient to need to replace the appliance in 5 years? Would not the cost of materials and energy to build the device be more than the savings of energy efficiency savings,,,, not to mention the landfill costs?

I am truly tempted to replace worn out appliances with older used but proven stuff for less cost and better durability. Here I thought technology was supposed to be used for the betterment of life quality and the economy.

Things are no longer like they should be. Every big business, service industry, manufacturer, banks, etc. have a scam to get into our back pockets much more than they should be. These are all indications we are nearing the end stages of our economic farce. Be ready.

surfergod's picture


Libero's picture


Very sensible questions, but it seems manipulations have only worked on the way down, -at least that seems to be the case NOW.  I can't wait for the manipulation to take place on the upside! I will be manipulating right along with them.  

No real 'splainin it.  Back to the US open.

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