Liechtenstein bank to pay $23.8M in NY tax case

The USA is on a quest to attract any foreign banks that deal with Americans. A Liechtenstein bank will now pay $23.8 million to end a probe into what the USA claims is their undeclared accounts that helped hundreds of U.S. taxpayers dodge taxes in the United States over a 10-year period. They are making past acts criminal violating the ExPost Facto Clause by simply interpretation claiming it always was illegal.

http://finance.yahoo.com/news/liechtenstein-bank-pay-23-8m-195641902.html

Effectively, they have applied US law internationally abandoning borders in this relentless hunt for money to keep the debt funded and the bankers happy. There will be nothing left and Americans are being eradicated from international expansion.Nobody will deal with Americans outside the USA anymore.

JP Morgan Electricity Manipulations

When I first came out and wrote about the “Club” and how there was an organized group of banks and some hedge funds that targeted individual markets to manipulate, they tried to pretend it was sour grapes. I had even hired Robert Howe who may have been the first African-American analyst in American History. Bob had a job at a major hedge fund in NYC. He applied for a job with our firm. I met him in the old Oak Room at the Plaza Hotel. He said he wanted to work for our firm because we were the only ones who were clean. The hedge fund he was at, told him if he wanted to rise in the firm he has to come up with “guaranteed trades”. I hired Bob and he joined our analytical team.

Salomon

The merger of the commodity side with Wall Street that took place in 1981 with PhiBro taking over Solomon Brothers, began the whole era of the BonFire of the Vanities. Insider Trading was purely an equity thing. It was Rudy Giuliani and his prosecution of Michael Milken that flipped insider-trading on its head and now makes no sense at all. Insider Trading began as a director in the ’30s who knew the company was going bust, withheld that info while he sold his shares, and then the news was released. Giuliani destroyed Drexel Burnham by claiming that if party A was buying a company with party B and the public was unaware, then that was Insider Trading because they profited unfairly since the public did not know. The US Attorney charged Milken and destroyed 50,000 non New York jobs threatening even his grandfather to prevent a trial by forcing a plea. Even back then Goldman Sachs was caught up in insider trading in 1989. They took real insider-trading and turned it upside down.

The Insider Trading theories have continued to expand as in SEC v Obus that as the NY Law Journal wrote “the court seemingly expanded the scope of potential liability for tippees who might lack actual knowledge that information was disclosed improperly or that the inside source provided information in exchange for personal benefit, even though proof of personal benefit is required to pursue the insider.”

Nevertheless, the whole insider trading nonsense applies ONLY in securities. The rest of the world relies on such info. They are routinely trying to figure out what the Fed will do next and what will be said at the next G20 meeting. So the blending of the other world with Wall Street has been a total nightmare.

HuntBrothers

The commodity side was ALWAYS about manipulation. This was the foundation of the big trading firms like PhiBro for decades in commodities prior to 1980. I knew of the Hunt Brothers buying silver from the late 1960s. How was it that they suddenly became a household word? Because that info was put into the press to get people to buy into the high and then the manipulators sold the high, changed the rules at the exchange so margins on longs were 2x a short, and the crash became history.

There was NO major rally in commodities that was void of their presence. Recently, there has been more and more exposure of these manipulations from the silver, LIBOR scandal, to Aluminum and even electricity price manipulation where now J.P. Morgan must pay $410 million fine but nobody ever goes to jail unless

  • (1) they are against NYC or
  • (2) they expose the government.

The interesting thing is they call someone like Snowden a traitor when he reveals to the people the illegal acts of government as if this is betraying the nation. Government is NOT the nation nor is it the people – it is a corrupt ruling class that is for sale. The nation is the people so how can it be a crime to expose corruption in government? Well that is the same thing about NYC and exposing the regular manipulations. They destroyed Princeton Economics because we had gathered evidence that exposed this trend and what they have been doing for decades.

Glenn

Alan Cohen was the receiver seizing control of Princeton Economics. His lawyer who went after all my lawyers to get the evidence that would have brought down Wall Street back then was Martin Glenn, who was rewarded for his valor by making him a judge, who then protected the banks again in M.F. Global and took depositor’s money creating the first BAIL-IN. Any one see a pattern here? And these people have the guts to shower themselves with titles such as “Honorable”. This is why we are collapsing. This is why the national debt exploded. This is why your taxes are rising and the Iron Curtain is coming down as we lose all our rights. Thank you New York New York.

Nobody bothers to connect the dots. They treat each manipulation as an isolated one-time event. Not even the press will tell the truth. The politicians will not really investigate because they too want money for their campaigns. Government is of the bankers not the people.

TR02022000

TR02072000 Tapes

 

 

The Aluminum Scandal

goldman-sachs-logo

Goldman Sachs & the Aluminum Scandal

The tide has turned against the bankers and there will not be a rock big enough to hide under. The market is starting to wise up to the commodity game of controlling the warehouses and trading on the same commodities after 31.4 years. I have reported previously that the “club” has been staging manipulations of numerous markets that include currency and commodities. Everything from silver spikes and rhodium to the latest being aluminum. These are often manipulation spikes that run the course of 3 to 9 months. Decades of gathering evidence and recording phone conversations were seized by the receiver who was later hired by Goldman Sachs and made a board member – Alan Cohen.

GetOutOfJail

 

The whole manipulation scandal has been around for a long-time, but the regulators and Congress have protected the bankers giving them the name the “Untouchables”. As the commentator in the following piece jokes – they should take the Go to Jail square out of the Monopoly Game since it never applies to New York unless you compete with them.

http://www.thedailyshow.com/watch/thu-july-25-2013/john-oliver-s-arcane-details-of-boron-group-metals-pricing-update

Economic Insecurity – The Great Motivator For 2016

The studies have been illustrating that what we face is the collapse of society thanks to the Marxist Agenda that has sent jobs fleeing and it now takes two incomes to support a family rather than one. The great divide between race has diminished and as the once minorities are poised to assume the role of the majority, the poverty among whites has risen sharply thanks to taxation.

The latest studies claim 4 in 5 in US face near-poverty. Children graduating college are finding it harder to find jobs for which the amassed huge student loans. The entire social structure is decaying and this is the source of discontent for the 2016 elections where we will begin to see a rise in third party activity. This is not going to be politics as usual for we are looking at serious change ahead.

HYPERINFLATION – Chicken or the Egg

Iran, North Korea, Argentina, Venezuela, Egypt and Syria have all one thing in common – the collapse in the confidence of their currencies. This is where we will see hyperinflation and this is what it is all about. HYPERINFLATION is by no means related to the quantity of money, it is directly related to the confidence in the currency. This is the chicken or the egg scenario. The hyperinflation takes place BECAUSE of the decline in trust and confidence in government. It is not the other way around. Governments do not hyperinflate for no reason. They hyperinflate because people lose confidence and they cannot issue bonds for nobody will buy them. This is what we will see in these countries.

 

Spain Taxing Sunlight

Light

Spain’s Secretary of State for Energy, Alberto Nadal, has signed a draft royal decree taxing energy derived from photoelectric cells. If they can’t derive taxes from utilities, what the hell – tax the sun. Next comes a tax on clean air to breath to live. They already tax food.

Glass-Steagall Returns by Default

QUESTION: If Europe is imploding, general global economy slowing and there is a liquidity crunch, Why in heaven is the Fed going to start taper in september?
Because of political pressure are they going to taper/rise rates and leave the Banks on their own with prop.trading? Has the Fed decided to really clean the system?
Thank you very much.
ANSWER: Proprietary trading is indeed coming to an end. We are seeing that in Europe and the Fed is taking that position. This is essentially the restoration of Glass-Steagall. Central Banks are not in charge of interest rates no matter what you may think. As long as people are willing to buy debt, then rates remain low. When capital begins to shift, rates rise. The flip-side of this is that pension funds are going insolvent. Without fixed income in the 5-8% level, they cannot meet future obligations. The low interest rates have not helped anyone but the banks. They pay 0.5% for 3 years money and want 4% when they lend it out fully secured. Capital shifts to equities because it has to see higher returns. This is why the DOW has been rising. QE has helped only the banks. They failed to pass on the stimulus and ending proprietary trading will be beneficial to the economy for they will have to start leaning to make a profit and that expands the economy whereas proprietary trading destroys the economy when carried out by bankers. The system is being cleaned-up for politically the bankers will not be bailed out this time. Proprietary Trading began 31.4 years ago and it is coming to an end precisely on the cyclical target of PI.