Captured Agents Of The Creditor Cabal

Looking over the following chart of European government debt levels, the big financial story is how extreme the debt levels are in countries that continue to borrow for nominal interest rates. This is a complete contradiction to economic principles. For example, how is it that Spain borrows at 1.8% on its five-year sovereigns, or Japan for 0.5% for that matter.

It takes more than central bank intervention to pull this off – it takes the criminal culpability of large pension fund managers to run this scam. Pension money managers today are little more than captured agents of the debt cabal. Japan has a large number of pensioners with savings, and they are the No. 1 dupe in the world for this scheme. The end game, of course, is debt restructuring that would wipe out pensioner’s funds AND their pensions. Greece and Detroit offer a dry run of the operation.

It also takes criminal rigging and collusion even beyond what has been revealed in LIBOR rigging.  Most of the previous LIBOR suits were about anti-trust and RICO, which is racketeering and are federal claims. But LIBOR and I think sovereign debt and gold rigging are basically the same animal but with a captured dupe twist.   Take your clues from LIBOR,  it involved 16 of the world’s largest banks that Professor Bill Black called the largest cartel, and illegal cartel, in history . . . clearly a criminal conspiracy.”   

My hunch is that the drop in the GDXJ will not be confirmed and will go into the fluke category. Tuesday’s bounce was light on volume, but on Wednesday we did get fuel-cell volume even though the PoG didn’t help. Today we see another early POG attack even after 465, 500 ounces were delivered in Shanghai. There are reports that dirty .90 gold bars are commonplace now. Obviously things aren’t adding up.

The most recent polls in India show the current ruling party, the INC,  responsible for wrecking the jewelry industry,  is in big trouble. A new “pro-gold” government (BJP) is coming in May. The reemergence of India as a major gold consumer seems baked in, yet the “market” doesn’t seem to discount it. I have to put this in the same category as 1.8% Spanish yields: Some patsy is being thrown under the bus to run price-suppression and price rigging schemes.