The Bankster Report: Hey, Banksters, we're watching you

tag:blogger.com,1999:blog-13060130971943939182012-01-07T06:15:05.491-08:00The Bankster Report: Hey, Banksters, we're watching youKerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.comBlogger551100tag:blogger.com,1999:blog-1306013097194393918.post-30405367590488389352011-10-04T09:05:00.001-07:002011-10-04T21:59:51.823-07:00The last 3 years have either not happened or are beginning to re-run

If you feel like its October 2008 and not October 2011, you are certainly not alone. You could have suffered comatose on October 3, 2008 and woken up three years later, today October 4, 2011, and if your nurse had Bloomberg on television, you would have likely thought that you were only out a single day. This is what you would have remembered from three years ago, and what you would have seen

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-6656403585535465592011-10-04T08:33:00.000-07:002011-10-04T20:21:02.135-07:00Five days now: Bank of America site overwhelmed and down again/still

I just checked BoA at 9:50am Mountain Time, and was greeted with the same message I received about an hour ago: This is now about the fifth straight day of BAC's failure to communicate. ZeroHedge has been covering this embarrassment/customer-affront for the past few days. If you look at that link, you'll see that BAC has managed to change the text on the "overwhelmed" page, but still hasn't

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-52690587724841066212011-10-01T13:57:00.001-07:002011-10-01T21:39:40.599-07:00Cage Fight Tonight: USD/EUR v. Au/Ag, Round 1!

Ding, ding, ding! Round 1 in the latest USD/EUR versus Au/Ag (that's Gold/Silver) is underway! Its Fiat Money versus Hard Money, Paper versus Physical, Fantasy World versus Real World...and it is on, baby! Bookies on the back row!Gold and Silver are, of course, looking nice and shiny tonight: though over 100 years old now, that 1912 St Gaudens is $2o Piece is just as austere a fighter as ever.

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-63638522805283281032011-10-01T11:07:00.000-07:002011-10-01T13:56:53.656-07:00Update: Bankster Report MIA for almost a year, and the economy is even worse than when I left!

My apologies for the long hiatus, but I had a very good reason for my absence (and no, it involved neither jail time nor time hiking in Iran). Though all markets---equities, bonds, commodities---have been quite crazy over this past year, in many respects I don't feel like I've missed much in reporting: after all, it is the same 3-year old story (dating back to 2008 now) of heretofore

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com2tag:blogger.com,1999:blog-1306013097194393918.post-52636383920451836222010-11-19T11:13:00.000-08:002010-11-19T12:01:13.802-08:00New candidate for Understatement of the Year: "National and global interests are trumping local concerns."

I don't have much commentary on this video, other than to say that it is all too common and ever-increasing. If you think you're having a bad day, put yourself in the shoes of these people:"Andes villagers resist China's claim on $50 Billion mine"But then, of course, you might actually be one of Peruvians in the film (as unlikely as it is), or, I mean, pero, por supuesto, es posible que usted

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com1tag:blogger.com,1999:blog-1306013097194393918.post-18908501051393018922010-11-15T10:16:00.000-08:002010-11-15T11:44:45.029-08:00Yeah, banksters own your parking spaces, thanks to your corrupt spendthrift city officials. What's it to you?!

Many Chicagoans still remember with bitter discontent the outrageous deal that Chicago mayor Daley forced on the city in December 2008 which transferred control of 36,000 of the city's parking meters and public parking spaces to Morgan Stanley. The deal was sold to the equally irresponsibly Chicago city council as an absolutely must-do emergency parachute that could only be considered for mere

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-20240497862648728222010-11-14T19:07:00.000-08:002010-11-14T18:40:05.745-08:00Gold-Silver Ratio breaks 1:50 level as things get interesting

Back when the US had a gold and silver standard, the dollar was pegged to gold, but silver was also pegged to gold. This gold-silver ratio was held rather steady at about 1:15, meaning that one ounce of gold would buy the holder about 15 ounces of silver, or vice-versa. This gold-silver pegging was reflected in the dollar right up through 1933: before the illegalization of private gold

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-29081176613330983382010-11-13T10:59:00.000-08:002010-11-13T11:55:42.561-08:00"No. We don't do mortgages in my country...I don't have any idea about mortgages when I started here."

We cannot thank the diggers at Zero Hedge enough for their incessant coverage of the biggest-crisis-that-no-one-is-talking about, ForeclosureGate. Well, perhaps I shouldn't say no one's talking about, because the robosigners certainly are.Check this out from Zero Hedge: "The Nine Most 'Inconvient' Robosigning Admission BOA Would Love to Disappear." You don't have to struggle through the long

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-47677827693860851692010-11-12T11:45:00.000-08:002010-11-12T15:05:14.722-08:00LIMIT DOWN! Lofty commodities tumble: Are Chinese bankers giving us a buying oppurtunity?

[These are very exciting times for me to have taken a hiatus, but some things (namely, midterm exams!) have been gobbling up my time. Perhaps I should stay away, as gold and silver are up a solid 20% since I last wrote one month ago. I hope I'm not going to regret this, but I'll write anyway...]Commodities boards around the world are nearly all red today, and some commodities (including sugar,

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-28171588351323091662010-10-12T21:11:00.000-07:002010-10-13T12:24:47.310-07:00Citigroup coins crisis "Foreclosures gone wild!"

Zero Hedge founder, Tyler Durden, and his crew have been (as usual) on point with the unfolding foreclosure/mortgage/title fraud fiasco, and yesterday they brought us another report:"Citigroup Call on Implications on Foreclosure: "Just the Tip of the Iceburg."You know things are getting interesting when Citigroup hosts a conference call during which their expert guest speaker, associate law

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-15888951887825984792010-10-11T14:43:00.000-07:002010-10-11T14:38:03.190-07:00Sell Gold--Buy Samarium! Chinese exports limits drive rare earth metals prices sky high!

Yttrium, europium, and neodymium: do they sound familiar? It's not likely you'll remember them any more clearly by their other names, but just in case, they are Y, Eu, and Nd. I'll give you a hint: think chemistry class. Well? Okay, so that's not helping: you can admit it--you flunked chemistry, and actually thought that yttrium, europium, and neodymium were three of the 58 moons of Jupiter,

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com2tag:blogger.com,1999:blog-1306013097194393918.post-49656956931012820752010-10-11T11:25:00.000-07:002010-10-11T11:51:31.768-07:00MERS, Citibank, Ally named in civil RICO suit; Nation's largest title insurance company denies new title insurance polices to JPM, Ally sales

A civil Rackteering-influence and Corrupt Organizations (RICO) suit has been filed on behalf of Kentucky homeowners against Ally Bank, Citibank, and the major bank-created/funded title middleman front, Mortgage Electronic Registration Service (MERS). From Bloomberg:"The suit claims that through MERS the banks are foreclosing on homes even when they don’t hold titles to the properties. '

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-5935724447668253062010-10-10T21:40:00.001-07:002010-10-11T12:38:36.189-07:0056% of all 2010 Q-2 housing transactions in Nevada are foreclosure sales

These are just stunning numbers from RealtyTrac, via Bloomberg, that demonstrate the enormity of the foreclosure crisis. According to RealtyTrac, more than half of all second quarter home sales in Nevada were foreclosure sales. Here are the exact numbers of the top foreclosure sales states for 2010 Q-2:Nevada - 56%Arizona - 47%California - 42% Nationwide, foreclosure sales accounted for almost

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-9811482379574174662010-10-10T03:44:00.000-07:002010-10-11T12:39:20.854-07:00Exposure of MASSIVE foreclosure fraud continues, accelerates; Patterns of fraudulent mortgages emerge; Title insurance fraud ramifications balloon

This is a must-read article via Zero Hedge:"The biggest fraud in the history of capital markets."These days are looking more and more like August 2008, as this foreclosure/mortgage fraud crisis is getting more and more severe by the day. Bankster Report's favorite, Catherine Austin Fitts, has been saying since at least 1995 that many of the "houses" to which MBS are supposed to be value-linked

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com1tag:blogger.com,1999:blog-1306013097194393918.post-58425417237536400782010-10-09T12:10:00.000-07:002010-10-09T14:16:13.741-07:00Currency Manipulation: World's largest Pot calls world's largest Kettle "black" as Fed races to devalue dollar faster than China devalues yuan

China has been a popular conversation topic in Washington lately, and an even more popular conversation in the chambers of the House and Senate. Last week, the House passed a bill authorizing tariffs against China in retaliation for China's continued "devaluation" of the yuan. Ironically, Congress also applauded the Federal Reserve's latest sure-to-lead-to-certain-doom plan to do what only

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com1tag:blogger.com,1999:blog-1306013097194393918.post-8452618315660305402010-10-08T19:21:00.000-07:002010-10-09T14:17:16.706-07:00Bankster Report's Eagle mascot gains 30.5% in 6 weeks while Bankster Reporter's savings lose 8% of purchasing power

In case you haven't noticed, silver has been on a tear this past month. Check out the graph below, courtesy of StockCharts (to which we are permanently linked on the left of this page under "Silver (chart)"): Silver up $5.5/oz over the last 35 trading days: f(x) = 5.5/35X ? If you cannot see the numbers, please click on the link, because StockCharts does a great job with their graphics and

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-31081245034185747482010-09-17T10:53:00.000-07:002010-09-17T11:51:01.825-07:00Two banks still net short 24% of total COMEX O-I silver

Silver is knocking on $21.00/oz, up a clean 15% over the last three weeks. This is happening despite the continued operations of two "undisclosed" commercial banks (ach-hoo! JPMorgan and HSBC!) which are still holding onto documented massive short positions. As Harvey Organ points out, last month's (July 2010) Bank Participation Report revealed that these two banks continue to stubbornly

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-14749732806045932432010-09-10T08:32:00.000-07:002010-09-13T12:05:35.236-07:00Where are we gonna get $5.2 Trillion in 36 months?

An excellent and disturbing article surfaced Friday in the Wall Street Journal, titled "Treasurys and the Danger of Short-term Debt." It is an essential read to understand how bad things get when a body (the United States federal government) buys things it can't afford.The author is Jason Trennert of Strategas Research Partners. As the title suggests, Mr Trennert details the super massive,

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com1tag:blogger.com,1999:blog-1306013097194393918.post-78946656477851764102010-09-01T00:50:00.000-07:002010-08-31T23:57:22.325-07:00Yeah, COT's matter: Visualizing the silver short

Many of us will never forget that crazy, foreboding weekend in March 2008 when the cards began to fall. In a matter of weeks, the mighty Bear Stearns had metamorphosed from a perceived Wall Street giant to a pulsating pile of toxic waste, and the legendary investment bank's share price had fallen from $93 per share to $2. Whatever really happened on that weekend in March, we may never fully know:

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-70885098236374667142010-08-30T15:02:00.000-07:002010-08-30T15:10:23.247-07:00Metal Trading Group LLC is new front for bankrupt Global Bullion Exchange

This is a headline post to help those interested in Metals Trading Group LLC, that they can find information on its previous and now bankrupt incarnation, Global Bullion Exchange, lest they invest with this latest creation of Mr Campany and lose everything like the others.Please click here for the post about MTG owner Jamie Campany and his explanation of how he lost $500,000 in silver bars after

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com1tag:blogger.com,1999:blog-1306013097194393918.post-18854503837106968112010-08-30T12:26:00.000-07:002010-08-30T15:02:22.435-07:00Dealer claims $500,000 in silver bars stolen from U-Haul van safely parked on secure, desolate unlit gravel road

The Gold and Silver Crash Course post covers the importance of steering clear of paper bullion, and stresses the importance of taking delivery. However, though not expressly mentioned in that post, storing bullion in a moving van parked along a desolate unlit gravel road would not qualify as safe storage. Also, hopefully after reading this post, you already know one place where not to buy gold,

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-50025476604351314122010-08-26T17:28:00.000-07:002010-08-27T02:42:46.182-07:00Top Economists explain "How We Ended the Great Recession," but they were just kidding

As best covered by Zero Hedge in two parts (part one and part two), nearly one month ago, two "top" economists, Mark Zandi, chief economist at Moody's, and Alan Blinder, professor of economics at Princeton and former Federal Reserve vice chairman, released a paper along with op-eds in periodicals including the Wall Street Journal. Now, presumably this paper was preceded by several months of

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com2tag:blogger.com,1999:blog-1306013097194393918.post-53498783575629925172010-08-25T13:54:00.000-07:002010-08-25T16:51:41.769-07:00Market Observations: Where's my helmet?

Market TroubleToday we saw the DJIA returning to four digits and touching 9,937 before staging, perhaps with the aid of the Working Group, an afternoon recovery to 10,060. We also saw the S&P well below 1050 for most of the day, and as low as 1042. Please note, that these numbers are coming off 1122 on August 10 for the S&P and from 10,719 on August 9 for the DJIA. In other words, these twelve

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com1tag:blogger.com,1999:blog-1306013097194393918.post-59061297436237480492010-08-25T09:01:00.000-07:002010-08-25T16:52:49.273-07:00Morgan Stanley says the D-word is "Inevitable;" Can the US ever default?

Citing the obvious aging populations and difficulties in collecting adequate revenue for the various massive social welfare programs in nations worldwide, former zombie-investment-bank-turned-zombie-"commercial"-bank Morgan Stanley today resurrected the d-word--default! Simply seeing the word "default" in a Bloomberg headline is encouraging in our fight against the banksters...but don't get too

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com3tag:blogger.com,1999:blog-1306013097194393918.post-801643156612517672010-08-10T18:13:00.001-07:002010-08-10T22:30:39.257-07:00Plan B: Bernanke sets sail on QE2, leaves US drowning in debt

Today, at 2:15pm, the Federal Reserve officially reversed course from "exit" to "full steam ahead."If you heard a loud fog horn today at about 2:15pm Eastern, you were not hallucinating. No, in fact, I and other Bankster Report witnesses are quite sure that at this exact moment today, while diligently tuned into Bloomberg radio to hear Vinny Del Giudice hit us with latest FOMC statement at the

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com1tag:blogger.com,1999:blog-1306013097194393918.post-74990725683814084962010-08-05T20:58:00.000-07:002010-08-06T02:30:57.599-07:00Be careful what you wish for: push for Fed to support $5,000/oz gold

If you don't know about Mr Chris Whalen and Institutional Risk Analytics, you really, really should. You'll see a link on every page of the Bankster Report (left side, under the half dollar) to two of Mr Whalen's sites: anyone interested in the down-and-dirty of the banking world will do well to visits these sites regularly and perhaps subscribe to IRA's publications. Mr Whalen is a frequent

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com4tag:blogger.com,1999:blog-1306013097194393918.post-24244444721591173062010-07-09T01:09:00.000-07:002010-07-09T01:20:38.856-07:00Breaking News: The BIS suddenly has 346 tonnes of Gold

This is very, very big news--so don't expect to hear about on the mainstream feeds. I wish had time to write about this, but due to current life circumstances, I simply don't. Instead, I'll refer you this MineWeb article: "BIS Gold Swap".If you need a refresher on the subject, review what Bankster Report posted last October under the heading "Monetary Gold, SDR's and the BIS". You'll find that

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-47340010071597622982010-05-18T23:20:00.000-07:002010-05-20T18:32:22.017-07:00Bad Gold dealer puts all dealers in Congressman Weiner's cross-hairs

Congressman Anthony Weiner (D-NY) held a press conference today during which he accused radio/television talking-head Glenn Beck and notoriously dissatisfaction-producing precious metals dealer Goldline International of engaging in an "unholy alliance" to "cheat consumers," and swore to save us all from Goldline and ourselves.As covered in a CBSNews article and others, Mr Weiner's claims against

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-38375228723563945152010-05-09T19:26:00.000-07:002010-05-09T23:03:24.254-07:00US to foot $50 Billion for Eurozone bailout; $962 Billion plan is another massive international transfer of wealth

Breaking news tonight from Brussels, as the ECB's and IMF's weekend of collusion and conspiracy have resulted in a nearly $1 Trillion total Eurozone bailout operation. The plan to ostensibly backstop the euro stands to leave US taxpayers on the hook for $50,083,000,000 in what will be another massive international transfer of wealth.This plan is another, separate eurozone-orchestrated bailout

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-60827517107597344142010-05-08T19:30:00.000-07:002010-05-08T23:01:31.507-07:00Victory: Utah ousts pro-bankster Senator Bennett!

A huge victory for freedom-loving Americans in all States played out today in Utah. After 18 years in office, and seeking a fourth term despite having initially promised to run only twice, Republican pro-TARP Senator Bob Bennett has been ousted from the race today at the GOP's nominating convention. The influence of the Tea Party movement was evident at the convention--which included chants of "

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-50808985256196536382010-05-02T11:25:00.001-07:002010-05-02T14:58:17.887-07:00Update: US payment to Greek toxic debt-holding banks now doubles; "Unbelievably big support" for German suit to stop bailout

Earlier this week, the original planned bailout of the Swiss, French, and German banks holding billions in toxic Greek debt included contributions from the EU and IMF of €45 Billion and €15 Billion, respectively. This bankster plan entailed a contribution from the US taxpayer (through the IMF) of some $3,417,000,000. This was bad enough--but, amazingly, that amount has since doubled.The latest EU

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-44883492018887808982010-04-26T22:18:00.000-07:002010-05-02T11:24:34.190-07:00US Taxpayers to give Swiss, French, and German banks $3,417,000,000 for wisely holding toxic Greek debt; More $/€ in the mail!

As if being on the hook for $23.7 Trillion in fascistic government bailouts of domestic and international banks is not enough, US taxpayers will very likely soon be footing the bill to bail out the bondholders of Greek debt through the World Bank(ster) operation known as the International Monetary Fund. US taxpayers will, once again, be the pawns paying for the irresponsible lending of foreign

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com2tag:blogger.com,1999:blog-1306013097194393918.post-40456518874671459802010-04-20T22:44:00.000-07:002010-04-22T00:00:25.605-07:00SSA promises Bankster Report $10,066 a month!

Fantastic news arrived today as Keri, the operator of the Bankster Report, learned that she has been promised a whopping $10,066 per month from the Social Security Administration upon retirement."I'm rich!" friends reported Keri as stating, followed quickly by, "Not! I see right through your bankster pranks, you scoundrels! This is just yet more evidence against your master fraud derivative--your

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-77481965988087344092010-04-19T16:37:00.000-07:002010-04-20T23:54:56.761-07:00Goldman fraud case impacts Commodites, Gold

Last Friday's SEC fraud complaint issued against Goldman Sachs had a noticeable impact on the market: as would be expected, Goldman shares took hit after the news escaped mid-morning--a steep 13% hit by close. But the impact didn't settle with equities. Commodities--especially oil, copper, silver, and gold--took a good hit, as well: Gold lost 2%, copper lost 2.3%, oil lost 2.7%, and silver got

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com6tag:blogger.com,1999:blog-1306013097194393918.post-16170604479981424402010-04-17T20:52:00.000-07:002010-04-19T16:35:11.850-07:00Goldman Sachs' "doing God's work" apparently includes FRAUD

(updated Sunday, April 18 with details on synthetic CDO due to questions from a reader)Last year, in a statement that made me momentarily question my understanding of the English language while simultaneously wonder whether I had inhaled too many potent diesel fumes over the years, Goldman Sachs' CEO Lloyd Blankfein declared, in a detailed interview, to a reporter from the The Times (London) that

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com18tag:blogger.com,1999:blog-1306013097194393918.post-77558548095602387822010-04-17T18:52:00.000-07:002010-04-18T01:54:23.923-07:00Goldman Sachs hid fraud investigation from shareholders

As covered in the last post, "Goldman Sachs' "doing God's work" apparently includes fraud" Goldman Sachs was sued yesterday by the SEC for fraud. The lawsuit itself--and more aptly, what Goldman knew about the investigation--is bringing to the surface even more questions, and this time they aren't coming from Goldman clients, but instead, Goldman shareholders. It appears that on top of the fraud

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-42182786086400408302010-04-13T16:33:00.000-07:002010-05-13T20:00:44.824-07:00Citigroup: Livin' in a Bankster's Paradise

This week's revelations on the financial chicanery that should have decimated the monstrous zombie bank commonly known as Citigroup are little surprise to anyone with a healthy skepticism of fiatists, but it is at least encouraging to see that the Financial Crisis Inquiry Committee is bringing to the forefront, for everyone to see, the dirty laundry of Citi's irresponsible, multi-billion dollar

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com1tag:blogger.com,1999:blog-1306013097194393918.post-42344054009938564942010-04-01T09:32:00.000-07:002010-04-02T08:09:52.486-07:00Real v. Paper: Will the CFTC stand up for reality?

What a headline on this March 23 article: Manipulation Standard Needs to Change--CTFC Commissioner tells KITCO News. CFTC Commissioner Bart Chilton said something to KITCO last week that I thought I'd never, ever, ever hear from anyone at the CFTC. In reference the position limits on metals in the futures and spot markets, Chilton said:“We currently only have limits on the amount of contracts you

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-35608346974049275882010-03-30T21:52:00.000-07:002010-04-12T22:12:26.563-07:00The latest speculative disaster: Box Office Futures!

Amazingly, as if the current $1,500,000,000,000,000 global derivatives “market” is not adequately irresponsible, fanciful, and insulting in itself, we are actually standing on the cusp of removing yet more blocks from the bottom of this economic Jenga tower, thanks to an another brilliant idea by the ever-creative fiatists. This one is not a bundle of toxic subprime mortgage-pieces magically

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-75813653898023199972010-03-12T18:40:00.000-08:002010-05-02T18:59:58.257-07:00Repo 101 on Repo-105's

The recent examiner's report on the Lehman Brothers' bankruptcy has introduced the world to Repo-105's. If you're just a little confused about repos, nevermind repo-105's, here's a fictitious example that might be helpful.We will use gold because its easy to imagine, and we will use the Bank of Keri (me) and the Banc You (you)! For the record, repo's use securities, not commodities because

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-43465445405114179192010-03-12T17:38:00.000-08:002010-05-02T19:03:27.885-07:00Examiner finds Lehman Brothers' dirty little secret: Repo-105

An bombshell report on the Lehman Brothers fiasco released this week demonstrates the level of financial shenanigans--and perhaps fraudulent misrepresentations--taking place behind the doors of 745 Seventh Ave. The report is a court document, prepared by the court-appointed Lehman Brothers bankruptcy examiner, Anton Valukas, as the bankruptcy resolution still winds its way through New York

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-20842105330850125242010-02-25T05:15:00.000-08:002010-04-16T01:24:16.595-07:00Gold Stalls in $ and Soars in €

Something's up with gold and the euro. We know EUR is under major pressure right now, and has been since November. But just to demonstrate what's happening currently, consider this: gold closed Friday at $1126...in USD. In EUR, on the other hand, gold closed at €826--an all-time record high! This is a very interesting paradox, especially for people like myself who look at gold as much closer to a

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-9259853210923370412010-02-15T05:30:00.000-08:002010-04-16T00:18:10.606-07:00Euro in Crisis--Thanks to dopes who buy Greek debt

You might have been watching the euro (EUR) tumble over the last couple months, and especially over the last several weeks as this crisis with Greece's finances really heats up. EUR has moved from around $1.50 in November to as low as $1.35 by the end of last week (3 month chart in USD). EUR is under major pressure, and it appears to be a fundamental pressure that is being stoked by the

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-60253906004553774132009-12-30T15:26:00.000-08:002010-04-06T09:32:23.419-07:00Penny Arbitrage, the US Dollar, and the Commodities Market

Question: When is a penny worth more than a penny?Answer: When there’s the chance for penny arbitrage.Arbitrage is any investor’s dream come true! It is an opportunity to make money through a trade with zero risk of a loss. Literally: in an arbitrage situation, you cannot lose. If you can, then its not true arbitrage. While this may sound too good to be true, arbitrage is quite possible, and

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com2tag:blogger.com,1999:blog-1306013097194393918.post-28790005626682238632009-12-16T15:26:00.000-08:002009-12-16T18:13:01.526-08:00Record Yield Curve: 230% above-average spread makes Mr. Bernanke 2009 "Person of the Year!"

It seems the lost souls over at Time Magazine (who, of course, named the CCX's Dr. Richard Sandor "Hero of the Planet" in 2002) have now again added to their menagerie of confused choices for the latest "Person of the Year:" the honors for 2009 go to Chairman of the Federal Reserve Board in Washington, Mr. Ben Bernanke. The Bankster Report has not analyzed what Time's parameters are for selecting

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-53934746603459733242009-11-29T20:58:00.000-08:002010-04-12T22:27:14.796-07:00The Kyoto Protocol: Oppressing People, Enriching Banks

Question: What does an Indian industrial city, a Chicago economist/Time Magazine “Hero of the Planet,” a little girl born without an elbow joint, a British chemical company, a French energy company, Maurice Strong, poisonous water, and the United Nations have in common?Answer: They have all been touched by the Kyoto Protocol.The city is Gujarat, India, where the water has been so polluted by the

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-64730045893989080692009-11-29T14:59:00.000-08:002010-09-01T10:05:32.215-07:00Sub-post: Follow the money behind the RGGI

(This is a section from the super long post "The $10 Trillion Emissions Market," for easy reference on the Regional Greenhouse Gas Initiative. For a more complete picture on how the RGGI fits into the emissions market, check out the full post.)The RGGI is the Regional Greenhouse Gas Initiative, and is run by RGGI, Inc, a Delaware non-profit 501(c)(3) formed in September 2007 to implement the

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com1tag:blogger.com,1999:blog-1306013097194393918.post-54146182253981837622009-11-17T14:39:00.000-08:002009-11-17T17:17:56.961-08:00A quick word on fiat money from the BIS...

This post is a quick word from the BIS on the subject of fiat money. As the global expert in "intrinsically worthless pieces of paper," the BIS ought to know plenty on the subject. Therefore, the Bankster Report will defer to a document from the BIS for a quick perspective on the issue. The following italicized quotes are from the Bank for International Settlements, document no. 55, titled "

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-6613418403719747342009-11-14T21:13:00.000-08:002009-12-01T01:47:35.149-08:00Dear Citizen who thinks that you own the Federal Reserve...

The following is just about as quick, simple, and concise as I can get on the Federal Reserve System established by the 1913 Federal Reserve Act. There are some people still posting on various articles that the Federal Reserve is a public bank, which is run by the government and owned by the people. Of course, this is totally absurd, but since they are saying it, I feel obliged to respond--

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-74321178958826014412009-11-14T18:20:00.002-08:002009-11-14T20:58:34.034-08:00The $10 Trillion "Emissions Market"

(The following was originally composed in June-July 2009. Some information on shareholders has since changed and will be updated and re-posted. That update with also include extensive information on Al Gore and Generation Investment Management, PLC.)Prepare for a super long post. This is some crazy stuff. Recently on Bloomberg's "Taking Stock," Pimm Fox interviewed a fellow by the name of Richard

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com1tag:blogger.com,1999:blog-1306013097194393918.post-10741518185656280752009-10-27T21:00:00.000-07:002010-09-13T12:19:33.662-07:00A Gold and Silver Crash Course

Considering the interest in the topic, I thought I'd take a minute to write a little of what I've learned about gold and silver, and the precious metals market in general, over the past few years. I'll try to make it as succinct, but that is not likely for me! Everything below is talking real metal, I'm not talking about gold ETF's (exchange traded funds), gold ETN's (exchange traded notes), gold

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com1tag:blogger.com,1999:blog-1306013097194393918.post-7483892388001557732009-10-21T17:49:00.000-07:002010-04-15T23:18:16.655-07:00Monetary Gold, SDR's and the BIS

(originally composed October 21, 2009.)I've been looking a bit more into the gold swaps issue, and seeing as that is a central bank thang, I have, of course, found myself today wasting another otherwise good day patrolling the Bank for International Settlements' website (www.bis.org). I am quite used to gasping for air as I word-search various documents in the voluminous records at the BIS, and I

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-69730194300312752672009-10-21T17:38:00.000-07:002010-04-15T23:19:59.677-07:00FRBNY responds to gold inquiry

(originally composed October 21, 2009.)This is an quick update to "Monetary Gold, SDR's and the BIS."After sending out the email on SDR's and "unembedded" gold, I received some questions from people that I thought were very good--so I decided to investigate a little more. One person asked me about the gold certificates that the FRS banks have on their balance sheets, which I mentioned in the

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-47272917299933476592009-06-10T12:00:00.000-07:002010-04-15T23:17:35.211-07:00Is the VMT tax really dead?

(originally composed June 10, 2009)Flashback: Remember back in February when the mainstream first heard the term VMT tax, as in "vehicle miles traveled" tax? It was when Transportation Secretary Ray LaHood proclaimed that, "We should look at the vehicular miles program where people are actually clocked on the number of miles that they traveled," and tax people on that. Of course, the obvious

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0tag:blogger.com,1999:blog-1306013097194393918.post-72405630444659402562009-04-20T19:20:00.000-07:002010-04-15T23:21:27.309-07:00How Citi makes $2.5 billion when the BIS changes the rules

(originally composed April 2009.)Is it possible to make $2.5 billion with the stoke of a pen?Ask Citigroup--they did! With the help of the BIS's Financial Accounting Forum, that is. The big story on Friday was all about the fluffy profits for Citi--the international bank's first "profits" in 18 months. It was a $1.6 Billion black mark, which is great considering they only needed $45 Billion in

Kerihttp://www.blogger.com/profile/02691583098587489426noreply@blogger.com0