JP Morgan, Metals Manipulation and The Keiser Report

Tue, Sep 24, 2019 - 9:30am

Late last week, I was asked to appear again on The Keiser Report as Max and Stacy discussed corruption and the Wall Street Banks. You should take some time to watch.

As usual, the first half of the program is a discussion between Max and Stacy. Yours truly is brought on for the second half and we discuss:

  • the possible significance of the current liquidity issues
  • the historical and ongoing manipulation of metals prices by JPM and the other Banks
  • David Meister, the sham "silver investigation" and utter corruption of the CFTC

Thanks for watching and thanks again to Max and Stacy for the invitation.

TF

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  7 Comments

canary
Sep 24, 2019 - 9:37am

Chuck Butler today...on Repo market (14 day Fed operation)

For those who missed it, Goldman assumes a roughly $15bn/month rate of permanent OMOs, "enough to support trend growth of the balance sheet plus some additional padding over the first two years to increase the size of the balance sheet by $150bn", in the process restoring the reserve buffer and eliminating the current need for temporary OMOs.

That strategy would result in balance sheet growth of roughly $180bn/year and net UST purchases by the Fed of roughly $375bn/year over the next couple of years.

However, assuming Goldman is correct, there would be a little over a month before such POMO returned to permanently increase the size of the Fed's balance sheet, potentially resulting in a continued liquidity shortage for the next 6 or so weeks.

Which probably explains why moments ago, the Fed surprised market watchers who were expecting the Fed to continue conducting only overnight repos, but announcing that not only would it conduct overnight $75 Billion repos every day from Monday until Thursday, October 10, but it would also introduce 2 week term repos with a total size of "at least $30 billion" for the first time since the financial crisis."

Chuck again... Yes, the Fed is going to introduce 14 day repos and then eventually, they'll be buying bonds again to give the banks the liquidity they supposedly need...

canary
Sep 24, 2019 - 9:41am

Wonder...what Eric Sprott thinks

Do the banks manipulate the miner...and if so, how?

AngryCitizen
Sep 24, 2019 - 10:04am

The Keynesian Death Spiral

tightens, ratchet click by click and we get closer to going down the financial drain....(cue pirates of the ... scene)

gf
Sep 24, 2019 - 11:10am

photo of Jamie D, above

raising your eyebrows and touching your eyebrow is sign of good news

He's not worried.

SilverSpeccanary
Sep 24, 2019 - 11:22am

I don't think we need Eric's

I don't think we need Eric's intellect to answer that one as miners have a simple Q*P revenue function.

It has had the effect of pushing producers with higher marginal costs out of the space, or, alternatively, them just sitting on larger, higher-quality deposits until R>=C. Reason why we've also seen many acquisitions.

As a whole, it has pushed massive amounts of capital out of the mining space depressing supply.

jadecruz2
Sep 24, 2019 - 1:15pm

GOLD BULLION DEALERS

They should have strict regulation and with reliable management. This kind of industry could harm economy like trading. Check out this site https://bulliontradingllc.com/

Joseph Warrenjadecruz2
Sep 24, 2019 - 4:10pm

Re: gold bullion dealers

Re: 'strict regulation and sound management'

We're Waaaay passed that point.

Check out the Catherine Austin Fitts interview by James Corbett in the comments posted on the other thread this morning. Basically, the system is completely rigged. They get away with it because their lawyer/liar politicians enact the 'laws'. They act in secrecy and with impunity and use 'the national interest' and 'national security' alibis as shields.

They want to spy on everything you do. But what they do (that we pay for in multiple ways) is a secret and completely hidden from us.

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