Why US Regulators Cannot Be Trusted
QUESTION: Mr. Armstrong, how do you explain away even the big corporations involved in manipulating markets like the Sumitomo copper manipulation that the company admitted an almost $2 billion loss claiming a rogue trader?
ANSWER: Let me make one point clear. WHATEVER you have read about manipulations is most likely totally wrong. I have NEVER seen that Sumitomo copper manipulation covered in the press by anyone with any knowledge whatsoever of the behind-the-scene-machinations. They all just take whatever they are told and print it from sources they may think are reliable but are plants to begin with. There are too few real investigative journalists these days.
I am not someone who makes up bullshit, nor do I speculate about things I have no idea about as 99% of the nonsense that floats around claiming manipulations. These people have NEVER been inside and are clueless about the real view behind the curtain. PhiBro’s brokers walked across the floor at the COMEX and showed Buffet’s silver orders to my brokers trying to get me to join them because they knew I did not trust the “club”. Safra’s bank directly solicited me to join them in Russia in Hermitage Capital. I have first hand knowledge not speculation.
Sumitomo lost at least $1.8 billion as a result of what it said were unauthorized trades over a 10-year period by its trader Mr. Hamanaka, who was later charged on allegations that he manipulated the price of the metal, which then lost a third of its value on world markets in less than two months.
You want to pretend Sumitomo was complacent and did not know about Hamanaka’s purchases? Fine – and Obama really cares about your future too and will tuck you in at night. It was the NY money-center banks that were shorting copper trying to break it against Sumitomo. It was an outright war. Sumitomo kept buying trying to defend itself against the “club”. The CFTC argued the banker’s position Sumitomo was manipulating the market with its buys but they never reported who made all the sales.
The CFTC attorney who started the Sumitomo case was the same attorney who started the case against Princeton. When he got caught sharing inside info from the CFTC with undisclosed people (I believe were the bankers), to avoid a scandal he was simply allowed to resign and surrender his legal license. Nobody else was charged at all. His name was Denis O’Keefe.
Anyone who thinks they can read the press and KNOW the truth behind manipulations is a fool. Often the press is not in a position to really know what is happening because they trust the wrong sources. The machinations behind the curtain are far more complex than anyone ever contemplated. I disagree with all the stories of manipulations because 99% are dead wrong. They charged Sumitomo who was the victim to protect the banks and they bailed out Long-Term Capital Management hedge fund without any authority to hide the losses of the banks. They let Lehman and Bear Stearns collapse claiming they had no authority but the next day bailed out AIG insurance when there was also no authority. Those in government lie all the time – nobody connects the dots. This is why you cannot trust anything a regulator in the USA has to say about anyone.
Even with me, the CFTC actually issued a subpoena claiming I was “manipulating the world economy” which I dare say was way over the top. It was because I REFUSED to join the “club” and they viewed me as a threat assuming I had the bulk of the real money clients globally. People judge others by themselves. They assumed I was correct notbecause of a model, but because I had more clients than anyone. They kept trying to get me to join because they judged me by themselves – influential. That was the thrust of the CFTC subpoena to see who all my clients were worldwide. I defended in court against that subpoena and won. Only my adversaries (“club”) could move the government to do that.
This is why the latest demands that the White House exclude banks from European regulation is the thrust of the entire free trade agreement. Talk about puppets on a string. Europe does not trust US regulators for a very good reason – they are sold to the highest bidder just as is the case with the White House. Welcome to the real world.
You Did Not Need to be Scottish to Count Votes
Well sometimes a little digging works just fine. After discovering the residency onlyqualification for a right to vote, the logical assumption would be that the vote counters also had no requirement to be Scottish. Well that hunch proved to be correct. Here is the criteria for counting. It turns our that the supervisor did not have to verify any count as long as she trusted the people she just accepted whatever they had to say – 5.9. There did not have to be anyone doing a second count.
This is so sloppy it is well suited for a Monty Python skit. There are so many holes in such a scheme, one must ask is this corruption or plain stupidity?
Brian Kelsey has put on his Twitter that he was the only American vote-counter in Scotland. Not that he was involved in any fraud, merely a confirmation that the vote counting did not have a Scottish requirement. No doubt, the people counting the votes were not required to even be Scottish and were English or European. One really has to question the whole ethical performance of this political catastrophe at this stage.
“Most exciting Scottish election results since I was the only American vote counter in the 1st Scottish Parliamentary elections in 300 years.”
The EU threatened Greece no bailout if they had a referendum. As the Economist wrote November 5th, 2011: “Mr Papandreou was in part the author of his own misfortune. Seeking the backing of the Greek people in a referendum, he was immediately condemned in the capitals of Europe as a fool or a traitor.”
The EU Commission staged a secret coup to overthrow Berlusconi in Italy because he wanted to exit the Euro. Berlusconi saw the writing on the wall. He wanted to save Italy by exiting the Euro. Brussels would not allow that to happen and effectively stole the democratic process from Italy as well.
Spain is claiming Barcelona cannot even have a referendum no doubt at the direction of the EU Commission vowing not to honor any such vote as unconstitutional. Any attempt using the democratic process to allow the people to vote on their future is shut down. Is this why our computer has targeted November given their election date is November 9th?
Even selecting the President of the EU is not up for any democratic process. As Spiegel wrote in June 2014, “The Democratic Deficit: Europeans Vote, Merkel Decides”. There is no democratic process in Europe. We are plagued with fake elections everywhere.
Scotland does not appear to have stood a fighting chance. This just maybe much more about protecting Brussels than anyone thinks. Even the Guardian wrote that the question of the UK leaving the EU was really the decision being made in the Scottish referendum.
The EU is doing everything possible to shut down any freedom and democratic process. They may not see themselves as fascists distinguishing their motive is to create a federalized Europe for its own good that the people are too stupid to comprehend, but you cannot secure democracy by destroying it. The road to heaven is paved with good intentions as they say. The Cycle of War showing this will be the biggest cycle in 300 years for civil unrest is now fully understandable.
Catalonia Vows to Move Toward Separation from Spain WIth Vote November 9th
The Catalonia region of northeastern Spain whose capital is Barcelona, is preparing to make a breakaway from Spain largely on the same issues of corruption and disparity in taxes where the North feels it is supporting the South.
Despite the “no” vote in Scotland that appears to have been anything but a fair election for Scottish citizens, the Catalan regional government has promised that it will push ahead with its own independence referendum on November 9, 2014. Spain is vowing to ignore the vote on the command from the EU Commission. The central government in Madrid has warned it is a non-binding vote and this would violate the Spanish constitution.
Catalan has argued they have a right to vote for independence where Madrid and the EU are trying to prevent any vote whatsoever shutting down the democratic process in Europe – exactly what they accuse Putin of doing in Ukraine. This is once again how the EU Commission works – by dictatorship. They will not allow any withdraw from the Euro fearing they will lose their jobs and power in Brussels.
Brussels is determined to rule Europe by threats and intimidation behind the curtain. If there is any separatist movement, that threatens the jobs in Brussels this will simply not be allowed. It appears the federalization of Europe may very well create war within Europe if they keep this anti-democratic agenda, which there appears to be no compromise . The people will not sit quietly forever.