Faces and Heels

Fri, Nov 15, 2013 - 6:12am

Stress is a critical survival tool, enabling humans to avoid or confront threatening elements in their environment. However, the nervous system is not built to exist in a state of continuous stress, and its functionality degrades if exposed continuously for too long to it. Stress in modern society is carefully titrated, served and withheld in doses as needs dictate. Whether it’s the mundane, everyday pressure of chasing devaluing clownbux to survive (nevermind what the CPI says, check your family budget), or more epic, traumatic societal events administered from time to time, the infotainment complex is as ready as ever to deliver the desired programming on HOW to react to said stresses in our everyday lives. Indeed, it can be seen as a transmission mechanism for, and reinforcer of stress as well as desensitization.

The media is by and large a construct of the system, owned and paid for in concentrated forms by the PTB. There is, of course, a desired component of variability to maintain the illusion that any free media exist, They have not yet seen the cost-benefit ratio of shutting down the ‘fringe’ internet sites that actually (hopefully) make an honest effort to reveal and represent the truth. But if something makes it to the top of the newscast, the front page of the paper, or the top of the search results list, it was put there. Purposefully, methodically, with a remarkable degree of precision. Not every item, of course, REAL news exists regardless of manipulation. But its position and relative exposure, its editorial spin, the selective serving and withholding of facts or questions – those are of course all fair game in all cases.

News is of course but one channel – and inducing/maintaining/tapering/spiking stress cannot by itself keep the serfs, errr..... productive citizens properly motivated. Release valves and sedatives must also exist to keep the brain chemistry just right (we won’t get into the direct chemical engineering here) – hence entertainment in all its glorious diversity in this golden age of culture. Circuses are just as vital as the bread. Gladiator arena equivalents abound, whether it’s professional sports or talent shows and ‘talent’ shows, reality shows or political theater. But I wanted to bring up a particularly obvious analogy: professional wrestling. Just like what I imagine medieval street theater to be like, professional wrestling is a staged affair, with ‘scripts’, roughly delineating the dialogue and roles of the wrestlers. There is always a ‘face’ character, a good-looking (to some, anyway) leading man the audience can identify with, cheer for and be enamored by. And there must be a foil, a villain, an anti-hero – the ‘heel’. Specifically designed to be caricatures, they are the Emmanuel Goldstein equivalent at whom the audience can hiss, boo, vent their frustration and anger – release the stress of everyday life in the righteous feeling of all being right with the world when they are vanquished.

The man that seems to top the charts of all-time best villains in pro wrestling: “Rowdy” Roddy Piper. Believe it or not, there was actually a cartoon series in the 80’s following the exploits of the stars of the WWF:

The reason I bring this latter point up is to introduce one of the two recommended movies for the weekend: Roddy Piper starred in a relatively little known, ‘cult’ classic film by John Carpenter – ‘They Live’. While the full movie used to be on YouTube, I could not find it this time around:

The Moment of Revelation - They Live 2018

The other is an obvious choice, and please excuse my getting repetitive in recommending it – Century of the Self by Adam Curtis. While it starts out focusing on the development of modern advertising and PR, the second part of the first episode, and the second part of the series (The Engineering of Consent) explores the concepts around influencing/manipulating the thoughts and thus behavior of entire societies.

Keep the above thoughts in mind as we proceed to this week’s sideshow event – the Great and Glorious Public Tarring and Feathering of JPM on Twitter: #askJPM

The script: JPMorgan, Official Twitter account for Asset Management, Private Banking, and the Corporate and Investment Bank (not the retail outlets of JPMC catering to the masses) decides to capitalize on its recent coup (back then still only anticipated – ha, who am I kidding, sure thing) of bringing Twitter public, and puts out a call for a Twitter-chat featuring the star dealmaker Vice Chairman Jimmy Lee. It was announced inauspiciously on November 6th:

It’s a : We'll host our 1st live Q&A on leadership & career advice w/a leading exec on 11/14. Use to submit a Q

The session was originally supposed to go live today, but was of course cancelled with an equally inauspicious Tweet:

Tomorrow's Q&A is cancelled. Bad Idea. Back to the drawing board.

However, that has not really stopped the stream of comments (which to date seem to be around 33K for the past two days). If you missed the hilarity, it’s still not too late to check out the feed directly: #askJPM. You can find any number of summaries and punditry on the hows and the whys by just searching for the hashtag.

When I stopped spewing coffee and my laughter abated from abdominal muscle strain, I stumbled upon something that gave me pause: Stacy Keach reading #askJPM tweets on a stage, while narrated occasionally by a blue puppet seemingly ripped off from Jon Stewart’s Michael Steele skit. Playing on CNBS.

The network copies (arch-nemesis) Jon Stewart’s Michael Steele blue-puppet idea:

... and airs this on CNBC today:

#AskJPM tweets performed by voice of American Greed & @PuppetsOH

Ask yourself, which of the network’s esteemed commentators would not most likely degrade themselves gratuitously in their ‘journalistic integrity’ for a chance to do a 1:1 interview with the suave, icy-stared playboy billionaire JamieD? How much time and effort has the channel spent ensuring the viewing public that while some bumps in the road are to be expected, folks should trust institutions and invest in stocks and bonds? Would CNBS really, out of the blue, deliver such a broadside on the best-run, biggest, most profitable, TBTF and TBTJ bank on its own? Remember these gems?

Blythe Masters Refutes Claims that JP Morgan manipulates silver markets

https://video.cnbc.com/gallery/?video=3000143166 (Dimon in Davos with Dartiromo)

There are several ways in which the current situation can be viewed:

JPM is simply going through a perfect storm, with all the settlements for alleged but never acknowledged or proven illegal behavior, the extremely suspect employment contract extended to Chinese ex-PM’s daughter, the Moody's downgrade. The Twitter incident was a well-meaning honest mistake by a largely underutilized small SM team. After all, #JPMCodeForGood didn’t devolve into scathing criticism of algorithmic HFT – they simply had not dreamed that such attention would be lavished on their dusty @jpmorgan account – and truly expected this to be a small step in trying to reach out to the public: “Look, peasants – we are offering access to the gilded halls. A lucky few Tweeters may even be invited to an internship or two.” – to try to build social capital, like they are supposed to. In strong support of this version is the date of the creation/sharing of the hashtag: Nov. 6 was a week prior to any events erupting, spontaneously or not.

Some counter-arguments to this option (which must nevertheless remain on the table as the simplest, most straightforward explanation):

  • If so, why absolutely NO reaction from the bank whatsoever, other than the skulking off at the end?
  • Why the unanimous, continued push from financial media to de-throne the de-facto institutional king of the financial world? How did everyone’s golden boy and stalwart pillar of society turn into the universally-loathed whipping boy that is now almost fashionable to hate? How is the name synonymous with American banking being dragged through the mud all of a sudden?
  • JPM, despite the outsized settlement payments and legal fees, has a coupla billion in profit left over. Do we really think the reputation of such an iconic brand and global force would be left to chance and the whim of an incompetent, inexperienced and underpaid steward? Has JPM, the master of subterfuge, disinformation, false advertising, fraud and lies TRULY become this sloppy in their PR execution?
  • Was there perhaps a co-incidence of some other events that needed to be distracted FROM in these last few days?
    • WSJ op-ed from Andrew Huszar: Confessions of a Quantitative Easer (Monday, Nov. 11, 2013) – Original here, ZH cover here. (see further details below)
    • Announcement of new CFTC-head nomination (Tuesday, Nov. 12, 2013) - Bloomberg story here, ZH cover here.
    • Janet Yellen confirmation hearing:
    • pre-leaked statement (Wednesday, Nov. 13, 2013) ZH here, MSM version here
    • actual Senate hearing session (Thursday, Nov. 14, 2013) Goldman’s take via ZH
    • Miscellaneous:
    • Obamacare rollout and subsequent ‘humiliation’/flailing to recover composure
    • EU announces QE
    • JPM-specific REAL bad news:
    • JPMorgan was cut to A3 from A2 by Moody’s (not that this really means anything, BofA was raised from A2 to A3)
    • $13B MBS fraud settlement with Justice Department, to include/cover a $5.1B settlement with FHFA, Fannie Mae and Freddie Mac
    • JPM pays Chinese ex-PM’s daughter $900K/yr for ‘consulting services
    • JPMorgan Banker Backed $200 Million Madoff Loan in 2008

    Amidst all the fun and games of the EpicTweetFlameWar, there were a few thoughts in other directions:

    Is the real reason for to determine how much more you need to spend with the NYPD for pitchfork protection?
    Are you sitting back laughing, as at the end of the day you'll delete this account and still have unlawfully, all that money?
    The NSA would like to thank all the volunteers in its experiment. Your contributrions have been duly noted and logged

    Regardless of the specific nature of THIS particular event, my belief in coincidences has declined considerably over the last few years. And though it displays the creative humor of the Twitterverse, this little comedic aside does little to nothing to change the balance of power. Our best hope is that it was able to raise awareness to some degree, and open the eyes of a few who might otherwise have continued to slumber.

    But it really feels to me like JamieD and his tag-team at JPM are being cast as the heels, complete with diabolical manager and female sidekick. Heels sometimes switch sides to become good guys, and vice versa – are we seeing an ongoing Hulk Hogan / Hollywood Hogan transformation as we speak?

    (...sorry, couldn't resist, you have to admit the more-than-passing resemblance...)

    As a last note, the exFedGoon guy "writing-in" to the WSJ? His name is actually pronounced thus: open this link, and click the speaker icon in the little window on the left.

    He may be a potential convert to at least SOME tenets of Turdism. I would like to think that honest, decent people still exist in the world – and that this gentleman is neither playing not being played. He certainly sounds sincere, and seems to have joined the growing ranks of those standing to be counted. I hope so, and hope that his current academic status provides some modicum of protection (though I can't seem to find him at Rutgers).

    Video link (Bloomberg TV)

    Together with the MBS purchases to the tune of $1.2T, the rest of this gentleman's resume reads like the script of the movie about a bankster secret agent's shenanigans before, during and in the aftermath of the Great Financial Crisis that began in 2007/2008 (with material for a prequel as well). From his LinkedIn profile:

    FRBNY Counsel, January 2001–June 2006 (5 years 6 months)

    • Iraq: Awarded FRBNY President’s Award for Excellence for aiding in establishing the Central Bank of Iraq’s Development Fund for Iraq account at the FRBNY following the Second Gulf War and serving as FRBNY liaison for the Central Bank of Iraq from 2003 through 2004 in connection with over $8 billion in Iraqi sales of crude oil. [Yeah, all of that went SWIMMINGLY. How many pallets of fresh, crispy FRNs went AWOL, again? I am being unfair, the missing $6.6B has been, apparently miraculously, found: 7 years after the fact.]

    • Latin America: Acted as legal liaison to the Latin American Central Bank accountholders, frequently addressing in Spanish any legal questions emanating from these institutions. [Senor, I want to make sure I made myself absolutely clear. Yes, you CAN deposit these funds, however acquired, and invest in UST with our partner primary dealers and other member banks. Our underlings can sort out the specifics and transmission channels.]

    Managing Director, U.S. Head of OTC Derivatives Client Clearing, Morgan Stanley, January 2011 – June 2012

    • Lead U.S. client clearing business for interest rate and credit derivatives. Substantially grew and manage a 18 person team encompassing sales, financial planning and analysis, product development, on-boarding, and client service functions; oversee work done by over 130 individuals.

    This guy must have remarkable war stories to tell. I hope we get to hear more of them. He may yet turn out to be merely a useful middleman in a process way above his head, or he could be trying to get out and truly seek absolution to get ahead of massive popular anger to come. But taken at face value, I like the guts being displayed. Perhaps I am just being lulled into complacence by the familiar accent…

    Will the villain be defeated? Will he switch sides, become one of the 'good guys' again, and help defeat all the 'evil banksters' and keep only the good ones? When is the hot lady getting between the ropes again? What will that wacky manager/promoter say next? Speaking of which, isn't the wrestling federation getting a new CEO?

    In any case, stay tuned, keep the popcorn ready, it’s sure to be an entertaining ride.

    PS: Thanks and acknowledgement to Pining, who provided the catalytic spark for today's post.

    About the Author


    Nov 15, 2013 - 6:53am


    Any article that talks about Rowdy Roddy Piper is an awesome article. Brings back memories, I was at the 1st wrestlemaina Silver66

    Nov 15, 2013 - 7:07am
    Nov 15, 2013 - 7:08am

    number 2

    edit. read the article now, lots of good stuff there for comment. Heres some of my random musings.

    Haven't read through that twitter thing myself perhaps I should. I love seeing the tide of public opinion being heard like that.

    I don't tweet and not on facebook, and except in a few places (such as here) refuse to comment unless anonymous commenting is possible. The NSA will log all those tweets of course, nothing more sinister in that than the usual sinister spying they are doing.

    I'm not sure how much value there is in thinking of any corporation as good or bad. They are all bad from the perspective of people who aren't themselves part of it. Their aim is to grow in power and wealth. Thats all it is. They do what they can, JPM are very good at it. If they fall from grace another will fill the niche. Corporation United States is even better, it is so big and powerful that most assume it is a country.

    Bix Wier is one of those who promotes an idea of good guys versus bad. The good guys are into silver (and believe bitcoins will fall to zero) according to him. I wonder if theres an element of 1984s Goldstein there ?

    Managing stress is important, yoga is one of the best techniques there is. I find it hard to make time myself but need to

    Nov 15, 2013 - 7:13am

    They Live

    It is available for viewing on Netflix if you have access... great movie!

    Rowdy Roddy -

    Happy Friday!

    Nov 15, 2013 - 7:25am

    I really prefer...

    ..The sheik or the Anderson brothers (oolee & gene), as the bad guys. Chief Wahoo McDaniel and Mr. Wrestling #2 are my all-time favs...I loved that 'Atomic Knee'....Oh, and who can forget Stan Stasiac with his Infamous 'heart punch'...those cats were tuff!...and surely less than 5th or 6th...go dawgs!


    I Run Bartertown
    Nov 15, 2013 - 7:25am

    Is nothing sacred?

    The corruption is everywhere, my brothers.

    ^^^ NOT gratuitous!! Central to the the topic of corruption in our trusted institutions!

    Dai Macedo Wins 2013 Miss Bum Bum Competition, Despite Controversy

    "But the glamor comes with its share of drama. Earlier this year, a columnist for Brazilian newspaper O Dia accused Miss Bum Bum contestants Mari Sousa and Eliana Amaral of bribing judges in attempts to win...

    In a note published in October, well in advance of the winners being announced, the newspaper reported that Sousa had secured top honors by paying thousands of dollars to judges. It also claimed Amaral paid $32,000 to judges and would come in second.

    Those ethically suspect predictions did not pan out (although Amaral was awarded third place), but even the future bum-bum queen became embroiled in the scandal at the time. Angered by the accusations, Macedo joined other contestants in lashing out against corruption in Miss Bum Bum via social media, according to News.co.au."


    Please accept my apologies for the HuffPo link. Sometimes the internet takes me into a bad neighborhood .

    Mr. Fix
    Nov 15, 2013 - 7:53am

    Even my wife asked: “could JPM really be so stupid?”

    Great post JY,

    I actually spent entirely too much time reading that twitter feed, and enjoying it immensely, while wondering what governmental agency was tracking down all of the contributors.

    It is delightful to think for a minute that they really are that stupid, or that someone “lost their job over it”, but like you, my belief in coincidence has taken a huge hit over the last few years.

    Even if it was out of stupidity, the old “never let a crisis go to waste” theory pops into my head,

    but what do I care, if the powers that be have a list, I'm sure I'm on it by now.

    Thank you.

    Nov 15, 2013 - 8:06am

    Condo ditches lawnmowers for grass-munching goats

    Nov. 15, 2013 - 06:58AM JST

    A goat eats weeds at the Urban Renaissance Agency condominium complex in Machida, western Tokyo on Thursday. AFP

    TOKYO —

    A condominium complex in Machida, Tokyo, has decided to ditch noisy lawnmowers and their paid pushers for a more natural option: goats.

    The suburban complex has obtained four grass-munching animals to help beautify the walled property and chomp on weeds in those hard-to-reach areas.

    A spokesman for the state-owned site’s developer claims the rental goats are cheap and don’t need much instruction while their poop pellets pose little risk to residents’ health.

    “It’s more cost-effective and environmentally friendly than paying for lawn mowing,” he said.

    “And goats are better than humans at mowing grass on steep slopes.”

    Residents have embraced the idea. The developer says that if the two-month trial, which started in September, works out it may hire more goats for its other properties.


    Nov 15, 2013 - 8:26am

    A new study released Tuesday

    A new study released Tuesday and reported on by the New York Timesconfirms something that probably isn’t much of a shocker: America is lagging behind many developed nations when it comes to our math and reading skills.

    However while the Times and others apparently expected the ADD generation to fall behind our global peers they do seem pretty surprised that middle-aged Americans aren’t exceptionally advanced beyond their counterparts. “Even middle-aged Americans — who, on paper, are among the best-educated people of their generation anywhere in the world — are barely better than middle of the pack in skills,” reports the Times.

    Of 23 countries Japan ranked first and Finland second on reading and math skills. The Netherlands, Sweden and Norway were also near the top. The U.S. clocked in near the middle in reading and near the bottom in math. Spain, Italy and France were at near the bottom in both reading and math.

    Nov 15, 2013 - 8:30am

    Fighting talk

    A way to attack the cartel ..

    Recently there was talk here about buying silver en mass on a certain day, I think it was Halloween, to then assess the impact and maybe even hurt the bullion banks. I don't know if the main thrust was covered more in the vault but I never heard much outcome, or if the idea fizzled out. Certainly it doesn't appear to have helped silvers cause when you look at the silver chart today and the way silver is being attacked. It is brutal. Gold Silver ratio is rising, silver is back where it belongs in its down trending channel. No sign at all of silver breaking free of manipulation, how long until that day ? It could be years couldn't it? If we admit it. The futures market is still well in control of price. All that currency I pumped into precious metals has lost value as the price has fallen.

    Could it be that the 'elites' have ran scenarios through computer models and concluded that silver is no threat. This would allow them to direct people like us into silver knowing that all our stacking is futile against the weight of their paper manipulation.

    However, this is the bit I need you to hear me out. Bitcoins cannot be controlled (yet). There is no futures market for bitcoins. The banks and government would not let them rise to $400 so far if they had any way to prevent it. The last feeble attempt to attack price was with take down of Silk Road which has been a spectacular failure with the price more than doubling since.

    What if people here start stacking bitcoins? This is a way to stack minus suppression. This is a way to stack, and see the result of it in a unmanipulated bull market. It is a tiny market (but growing very quickly), the dollars make a difference in that market. The FED is scared of it. The ECB is scared of it.

    Think of it as leverage. If enough silver believers switch to bitcoins instead (unmanipulated remember) to leverage up the purchasing power. Then unleash a larger more powerful purchase of (by then even cheaper) silver. Maybe smashing the silver suppression would become in reach.

    Kryptonite indeed. Freedom for the people.

    Maybe this is what Bix really means.

    Nov 15, 2013 - 8:31am


    Its a very tough call, maybe the one on the right for me

    Nov 15, 2013 - 9:06am

    And the SLV is down for the count again today....

    Losing another 1.63 million ounces. That's 3.5 million since Monday, and about 11 million in the last 6 weeks.

    Nov 15, 2013 - 9:07am

    Hammer- A New Study

    I could not read that, too many big words for this middle aged American!

    VonBurp- Iron Sheikh- Tehran Iran Number One pronounced Tayron E-ron nomber vun

    JY- great writing. I too got a big kick out of the #askjpm. I thought one of the best ones was something along the lines of "The biggest problem with these jokes is JPM doesn't think they are funny and we don't think they are jokes."

    I get the feeling that this was a goof up. Remember the mantra, out of chaos, order. I don't think any group of humans can possibly be 100% in control of the dizzying pace of news stories, crimes, cover ups, etc. I think what they have done is created the highly stressful state of chaos on purpose, and they try to control everything, but every once in a while they slip up and the good guys get a brief moment of poetic justice. In a few days it will just be lost in the chaos again. When TPTB are ready, they will unveil there "order" and announce the chaos period is over.

    I think we have a lot of pain to endure as a nation. But I think the good guys will win. What's left of the good guys anyway.

    Nov 15, 2013 - 9:16am

    thinking aloud...

    I was thinking: wouldn't it be nice to see how much precious metals Turdland actually controls?

    We could see how we stack up as a collective compared to the list of official sovereign holdings.

    Is there a way to anonymously do this?

    Nov 15, 2013 - 9:37am

    That's easy for me Achamat

    I don't have any.

    murphy Cleburne61
    Nov 15, 2013 - 9:43am


    What are the total current holdings now?

    Came across this from 01/17/13. Seems to make pale 11 million ounces in 6 weeks if they can add 18 in a day. Sure!! Rrrrright.


    SLV Adds Record 572 Tons Of Silver In One Day, More Than In All Of 2012

    Technically the addition of 572 tons, or a massive 18,378,092 ounces of physical silver, to the SLV ETF, in one day is not a record, as it excludes one amount which however was a year end rebalance at the end of 2007 offset promptly on the next day, but it certainly is the biggest one day addition of physical silver to SLV in ordinary course operations. It is also more silver added to the ETF in all of 2012, when just 544 tons were added in the entire year. This was driven by the creation of some 19,000,000 shares of SLV overnight which brought the total to 356.8 million shares. And since there has been no move in the price of silver, which certainly would have soared had this amount been purchased in the open market we can only assume this has to do with in kind basket creation taking place. Whether this was due to arbitrage, or simply the need to create inventory we don't know: we are confident however, that SLV custodian, money laundering expert extraordinaire HSBC, will have no comment. Just as there is no comment why in the days following the epic May 1, 2011 take down of silver, a nearly just as large 522 tons of silver poured out the ETF on May 4, 2011. What is certain is that a move of this size is certainly notable.

    Nov 15, 2013 - 9:45am


    Doesn't have any either, just mulling it over.

    In fact, most of these folks seem pretty bright and would do lots of diligence prior to purchase.

    Nov 15, 2013 - 9:46am

    tgif / from Quinn


    Mark Twain

    “Reader, suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself.”
    Mark Twain

    “Loyalty to country ALWAYS. Loyalty to government, when it deserves it.”
    Mark Twain

    “If you don’t read the newspaper, you’re uninformed. If you read the newspaper, you’re mis-informed.”
    Mark Twain

    “Courage is resistance to fear, mastery of fear – not absence of fear.”
    Mark Twain

    “If you tell the truth, you don’t have to remember anything.”
    Mark Twain

    “Whenever you find yourself on the side of the majority, it is time to pause and reflect.”
    Mark Twain

    “The man who does not read has no advantage over the man who cannot read.”
    Mark Twain

    “I have never let my schooling interfere with my education.”
    Mark Twain

    “A lie can travel half way around the world while the truth is putting on its shoes.”
    Mark Twain

    “The fear of death follows from the fear of life. A man who lives fully is prepared to die at any time.”
    Mark Twain

    “Don’t go around saying the world owes you a living. The world owes you nothing. It was here first.”
    Mark Twain

    “Always do what is right. It will gratify half of mankind and astound the other.”
    Mark Twain


    Nov 15, 2013 - 9:51am

    The Grand Finale:

    The Grand Finale: Behind The Green Door (a Major Update)

    Behind The Green Door

    “Those who forget the past are doomed to repeat it…” ~ Sara Shepard

    Consider where we were in September of 2013…

    1.) They were still talking about possibly implementing the new Basel III banking regulations in Q4 of 2013.

    2.) A late August chemical attack (which turned out to be a false flag) in Syria had Obama talking about taking the United States, and anyone who was dumb enough to follow us again, back into war in the Middle East.

    3.) The Government Shutdown and talk of a U.S. Default loomed on the Horizon.

    4.) The Federal Reserve was talking seriously about ending QE to Infinity (so much so they advertised to the financial media that is was a done deal).

    The table was set, the players were in place, and the fat lady was warming up.

    Then poof, within a span of two weeks it was all pulled back…

    Obama, in the face of world discontent, actually did something unheard of for his administration; he decided to obey the Constitution and ceded his war powers back to Congress. Regulators decided that the banks were behind on Basel III implementation so they pushed it back to the beginning of 2014. The Fed decided the economy, which they had been advertising as being in a full and sustainable recovery, was too fragile to taper QE at this time (despite the indisputable fact that QE was showing a severe decline into a negative rate of return). Then last, but not least, the Government Shutdown ended uneventfully, except for the convenient fact that lawmakers gave the Government the power of unlimited borrowing for four full months. (Oct 13 thru Feb 14).

    “I, like God, do not play with dice, or believe in coincidence…” ~ V for Vendetta

    So what happened? Why did they take the controlled demolition of the world economy off of the table? In talking with my friend at the Dallas Federal Reserve a few things in the thinking of the Fed have become apparent.

    1.) The Taper of QE to Infinity is inexorably tied to Basel III, though they don’t have to begin at precisely the same time.

    2.) The Banks were not ready for Basel III or Taper in Q4 2013.

    Remember in my original Grand Finale thread where I said the world economic crash would be a “controlled demolition”, well some of the workers were still in the building when the charges were set to go off…

    Mission abort!

    But make no mistake, the demolition is not off, it has merely been postponed.

    And the top of the pyramid at the Federal Reserve, in classic banking fashion, used the opportunity of everything being in place in Sept 2013 as a “test run” or a “stress test” to find weaknesses in their plan. Where were the hot spots, would the markets react in a predictable way, or would they go off the reservation? How would the political structures of the world react to the possibility of war and a United States default? Did the major banks have enough Capital and Liquidity built up under the tenants of Basel III to withstand the stresses of an economic collapse and market failure? Who would survive, and were they the right someone’s to survive?

    The lessons learned were invaluable for them. These are also lessons we had also better take into consideration going forward if we wish to survive.

    Because quietly and inevitably the Middle-East is heating up again, the Fed is talking about tapering again (after re-loading their Capital at taxpayer expense of course), Basel III is on for implementation on January 1, 2014, and shortly thereafter the Government will be entering another “Shutdown” crisis in February of 2014. The entire scenario is playing out all over again, the question is; will they pull the trigger this time, or back off again.

    I would argue that the dry run stress test is done, the results are in, and it’s time for the controlled demolition to begin, and here is why.

    First, the Government has given itself unlimited borrowing authority until February, 2014. They have purchased bullets and beans; hired extra security, stockpiled resources and man power around the country, and they are currently borrowing extra money to hoard cash for the coming calamity.

    Second, Basel III implementation is on, and even the smaller banks have now had a full year to prepare for it. Because as I argued in my original Grand Finale thread, the key to all of this, and one of the primary things to watch for, is the full and final implementation of phase I of Basel III. Because you must understand, Basel III was never meant to help the world economy, in fact it will destroy the economy by finally causing the credit crisis they have been preparing for since 2008. Basel III regulations are entirely meant to prepare the banks to either survive or be eaten by bigger banks in an economic crash to end all economic crashes. They make it easier for smaller banks to be bailed-in, and/or liquidated, and they make it easier for the larger banks to feed off of the smaller ones. Basel III will also make it much easier for the powers that be to steal 401k’s, IRA’s and Pension Funds. This is the sum total of these regulations, nothing more. This is the foundation they will build from when the controlled demolition is complete, and it is a foundation built on the bones of the people of the world.

    So as September/October, 2013 begins to replay itself in late Q4, 2013 and Q1, 2014, here is what I urge you to look for and be cognizant of. Basel III is currently slated for full implementation in January of 2014, so watch for any changes in that, AND watch the yield on the benchmark 10 Year Treasury Note, 3.00% is your warning siren, prepare yourself. And if that yield stays in the 3.25 to 3.50 range for a couple of consecutive days, it’s go time.

    People ask me all the time if I’m ready to, “call it”?

    If 10 Yr. Treasury Note Yields rise to and stay in the 3.25 to 3.50% range for a couple of consecutive days, don’t wait for me to call it, everything I laid out in The Grand Finale, an Economic Love Story or Fifty Shades of Green is about to come to pass, so…consider it called.

    The Grand Finale


    Nov 15, 2013 - 10:00am

    Google: US Government Spying

    Google: US Government Spying Has Tripled Since 2010

    by Steve Watson, InfoWars:

    Google announced Thursday that the number of requests for individual user data by the US government has increased threefold in the same number of years.

    The Search Engine’s statistics, released in its Transparency Report, show that In the six months of 2013, the government issued 10,918 requests for data on 21,683 users, a huge increase on just 3,580 requests in the latter half of 2009, when Google first began compiling the figures.

    Read More @ InfoWars.com

    ZILVERMAN Cleburne61
    Nov 15, 2013 - 10:29am


    And the SLV is down for the count again today.... where do you see this?a link please.thanks

    Dyna mo hum
    Nov 15, 2013 - 10:42am

    Mr Fix you can rest assured

    you are on the list with the rest of us. Question is now what?

    Urban Roman
    Nov 15, 2013 - 10:51am

    bitcoin ... two year chart

    bitcoin ... two year chart ... logarithmic scale.

    If the banksters don't figure out a way to crush it, it still has a ways to go. Note that this is not so much an 'inverse dollar' chart, as it is a graph of how quickly people discover it and buy into it.

    Nov 15, 2013 - 11:04am


    I've come to the conclusion that the only person not being watched is the crazy cat lady across the street. She doesn't have cable, a cell phone, the internet and only uses cash.

    Hell she may be on to something!

    Nov 15, 2013 - 11:12am


    (1). My wife was at the local clinic yesterday. The place was filled with people seeking different medical tests. One man was complaining that his medications were going through the roof. Another man told him in front of everyone "This is the results of the affordable health care law. My friend just received his new plan for health insurance and it went from $700 per month to $4000 and he cannot pay it".

    (2). We spent quality time with our children as they lived at home. We worked at giving them a strong work ethic. I began to bring our son to the construction sites when he was in grade school. Gave him a broom and a bucket. Sweep the floors, pick up the trash. I would pay him a few fiat papers and he learned to save. By the time he was 19, we were building his first primary residence.

    Today he is learning to not work as much and to cut his income. His medical insurance is rocketing. The income taxes are jumping and the regulation for business are stifling. The things we have taught him for success are being drained away by socialism.

    (3). There seems to be a 70 years cycle. Israel was in captivity for 70 years and then a change occurred:


    Russia had their 70 years to discover that socialism did not work.

    We here in America are near our 70 years from the end of WW2 to wander in and out of prosperity and blessings as we approach a pit.

    Israel is approaching their 70 year period from 1947-48 as a nation and a new era approaches.

    Yes, the consequences of Babylon approaches from all quarters.

    Nov 15, 2013 - 11:21am

    SLV figures and a theory

    Murphy, much was said about that deposit. What some concluded is that much of that ridiculously large "deposit" was meant as a payment against a huge chunk of the illegal short shares outstanding. In fact, it was documented that well over 10 million oz of silver shorts were extinguished in that transaction. Though not all the shorts were extinguished, it remains to this day, a depressed level of SLV shorts, compared to the spring of 2011.

    Each morning I receive Ed Steer's gold and silver daily into my email box(you should too). He keeps track of it, and I got it from him.

    However, this link gives today's figure for # of SLV ounces.

    Also guys, I have a theory....

    Few people remember this, because the MayDay Massacre and week was so traumatic that few were watching SLV outflows. But Ted Butler in those days chronicled the removal(within 2 months).....of roughly 60 million ounces of silver from the trust. 60 freaking million! In a few months! (Perhaps a venerable Turdite who subscribes to Ted can find an article or a few passages from those days)...

    He spoke of it in great detail, as he called it "the greatest silver heist of all time". He guessed that this silver was going to eastern vaults, and that could partially be true. But, there could be another explanation....

    Having successfully dampened investor demand, killed the TA technicals, and made sure that few would pour back into silver future longs so soon....I'm venturing a guess that the banks behind this(specifically JPM and others), used much of that 60 million oz to build up their own vault holdings(JPM had only just begun their private storage vault).

    The follow-up roundhouse was delivered in September, when they annihilated paper silver for another 35% in 2.5 days....while they took down MF Global and seized phyzz, while stopping all deliveries during an important delivery month. The Comex and SLV have been in "an uptrend" ever since those events.

    Bill Murphy and Ted Butler have both wondered where the silver was coming from to satisfy record retail sales the world over this past year. Well.....Ted did write about that 60 million ounce heist 2.5 years ago. Who else among us thinks it totally within the realm of possibility that much of that stockpile has been used to satisfy the supply deficit?

    Nov 15, 2013 - 11:30am

    pop quiz

    what am I?

    - backed by nothing

    - a ponzi scheme

    - destined to fail

    - criminals use me

    - i'm not shiney

    - i have no intrinsic value

    - i'm a scam

    - i'm new world order money

    - all my transactions are known by the NSA

    - a tulip bubble waiting to burst

    I'm a bitcoin

    yet my price has overtaken an ounce of silver and will soon overtake an ounce of gold.

    I am a slingshot which can propel a silver bullet through the heart of market manipulation because I am the one thing not manipulated

    Seriously disapointed by such a muted reaction to my idea

    you want to end manipulation or don't ??

    Nov 15, 2013 - 11:49am

    Didn't see much of this in Western press

    DSE, KPAGEC mull gold trading on stock exchanges
    Tribune Report

    The agreement came when a DSE delegation attended a three-day conference of Bangladesh-China-India-Myanmar (BCIM) Economic Corridor Connectivity Forum ended on November 11 at Fuzhou

    The Dhaka Stock Exchange (DSE) and Kunming Pan Asia Gold Exchange Co. Ltd (KPAGEC) are working on introducing gold trading on both the stock exchanges.

    To this end, DSE President Ahsanul Islam recently signed a letter of intent in China to promote the joint development of precious metal market based on Dhaka of Bangladesh and Kunming of China, DSE said in a statement on Wednesday. The two exchanges will jointly analyse the trading feasibility in both the exchanges to trade the gold and its derivatives denominated in renminbi (RMB), taka and US dollar.

    The agreement came when a DSE delegation attended a three-day conference of Bangladesh-China-India-Myanmar (BCIM) Economic Corridor Connectivity Forum ended on November 11 at Fuzhou, China.

    The DSE president proposed the innovative financial products – Infrastructure Development Fund for the BCIM Forum, Islamic Financial Products like Sukuk, BCIM 50 Index, Currency Swap based on Gold standard, Regional Commodity Exchange like Gold Exchange – to provide financial support for the establishment of BCIM countries.

    - See more at: https://www.dhakatribune.com/stock-market/2013/nov/14/dse-kpagec-mull-go...


    Note the LAST paragraph: " Currency Swap based on Gold standard"

    Urban Roman
    Nov 15, 2013 - 11:52am

    Ah, but watch out

    if the banksters embrace bitcoin. Because shortly after that, you'll have fractional bitcoin reserves, and bitcoin derivatives. Bitcoin contracts for the out-months. Futures. Secret contracts with promises to pay in bitcoin.

    That would probably kill it, right there

    Nov 15, 2013 - 12:03pm

    India Gold Premium Hits Record 21.6%

    With India's 10% gold import duty on top of other capital controls, the price one has to pay for gold in India has reached a record spread of 21.6% vs. what one has to pay in countries where there are no such controls or import duties.

    My friend Nick at Sharelynx Gold pinged me earlier today with a chart that shows the premium one has to pay to buy gold in India.

    If there was little demand for gold in India, the premium would be much smaller.



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