In a first in Europe, all 90,000 Dutch bank employees will take an oath ‘to do no harm’ as it were, punishable by the Banking Association. We are supposed to believe that those who fail to abide by the new rules may be blacklisted, face fines or suspensions. Seems like a tall tree and a short rope would be a better deterrent.
Bank of England officials told currency traders about sharing impending customer orders with their counterparts at other firms. Traders representing some of the world’s biggest banks shared information about aggregate orders before currency benchmarks were set. In short, it appears that the banks have been not only been rigging the LIBOR, but the FOREX markets as well. Yet, we are to believe there is no manipulation in the gold and silver market?
In some good news, it turns out that George Soros was the victim of the ‘Knockout’ game by his ex-girlfriend. Guess the ‘knockout’ game isn’t all bad.
Until recently, the Fed typically discussed things; such as, contingency plans and liquidation programs. Now, they are talking about prepping for disasters as they start warning other banks about upcoming drills. Is this ‘Black Swan’ season?
The Coming Big Crash
According to William Kaye, the 2008 collapse was just a warning shot. He believes that the decisions that policymakers are going to be facing either this year or next year, are going to be one of default or debase. In addition, he believes that the financial situation will only increase the ‘Orwellian’ police state where more people lose more of their freedoms.
It appears that cooperation between the world’s central banks is now gone and it’s every man for himself. Cooperation is so important for the stability of the entire global financial structure that, if lost, the dominoes start falling. We are already seeing capital controls in the Ukraine and South America and it is spreading. Add that to the tremendous fall in COMEX gold inventory in January, right before the delivery month of February, and things are not looking good for those paper shorting gold.
California’s Doctor’s Offices
Are you in California, enrolled in Obamawreck and now can’t find in-network doctors in an network? Aside from living in that socialist state, real doctors simply don’t want anything to do with that crap!
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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