In the third Show of Practical Bull, David Morgan is put into the hot seat to take on the toughest arguments against precious metals. With David entering the intellectual boxing ring, we want to know whether you thought the Precious Metal Bears or Bulls took home the intellectual boxing match. So visit our www.practicalbull.com and vote on which side won the match. Also sign up for our newsletter and get a chance to win a free copy of Get the Skinny on Silver by David Morgan.
In the second episode of Practical Bull Radio, host Josh Renfro talks to CEO Erik Weir of WCM Global Wealthabout the lost decade and how investing in bear markets require very different strategies from the 1980’s and 1990’s. In the second half of the Josh talks with Jim Willie author of the newsletter on QE3 and the sweeping effects that it will have on gold, silver, commodities, and the broader market. Additionally, Josh and Jim discuss the Feds underlying motives and the truly evil acts that are being perpetrated and what is the end game for the Fed.
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In the first episode of Practical Bull Radio, host Josh Renfro talks economics with Financial Strategist, Andy Sutton of Sutton & Associates. Then, Mike Niehuser, founder of Beacon Rock Research & regular contributor to Practical Bull, speaks with Balmoral Resources President & CEO, Darin Wagner in regards to the drill results just recently made public.
During the second quarter of this year two of the most notable billionaires, Paulson and Soros amassed large quantities of gold. Over the past few years we have increasingly seen more and more of the affluent dive into gold.
In this particular case former treasury secretary, John Paulson, increased his holdings of SPDR Gold Trust by 26%. This represents a much larger clearer vote of confidence when you consider that of the $21 Billion hedge fund run by Paulson has 44% of its assets tied up in gold bullion. This is a big statement coming from our former US Treasury Secretary.
Additionally, noted billionaire George Soros doubled his holdings in gold. The Soros Fund Management LLC raised its stake to 884,400 shares. Ironically, spokesmen for both financial mammoths declined to comment earlier this week on their recent acquisitions. As much as I dislike George Soros, he is a brilliant man and when he invests it is extremely important to see where he goes.
Finland’s Prime Minister came out this morning in an interview and made some very important statements regarding leaving the EU. In this weeks Strategic Silver Investor Weekly Report we discuss the impacts of an EU break up on the broader market.
On this weeks SSIWR, we discuss the impact of last week European Summit and what effect it is likely to have. Was it the catalytic event that we have been waiting for to change the momentum of gold, silver, and the broader market? Or is it another meaningless action? Find out on this weeks report!
This week we discuss the impact of the Federal Open Markets Committee Meeting and where this leaves the gold and silver market as well the market in general. We also discuss some of China and Russia’s latest moves in regard to gold.
This week we discuss silver’s current position, the dollar flag pattern, June 1st, additional QE and how all of these things are continuing to progress.
This week we discuss the very important formation of the European Stability Mechanism. This entity is getting very little attention in the media, but the implications of its potential formation are enormous.
|1 Trillion Dollars|
|$1,000,000,000,000 – When they throw around the word “Trillion” like it is nothing, this is the reality of $1 trillion dollars. The square of pallets to the right is $10 billion dollars. 100x that and you have the tower of $1 trillion that is 465 feet tall (142 meters).|
Bank of New York Mellon
|BNY has a derivative exposure of $1.375 Trillion dollars.
Considered a too big to fail (TBTF) bank. It is currently facing (among others) lawsuits fraud and contract breach suits by a Los Angeles pension fund and New York pension funds, where BNY Mellon allegedly overcharged the funds on many millions of dollars and concealed it.
State Street Financial
|State Street has a derivative exposure of $1.390 Trillion dollars.
Too big to fail (TBTF) bank. It has been charged by California Attorney General (among other) lawsuits for massive fraud on California’s CalPERS and CalSTRS pension funds – similar to BNY (above).
|Morgan Stanley has a derivative exposure of $1.722 Trilion dollars.
Its a too big to fail (TBTF) bank. It recently settled a lawsuit for over-paying its employees while accepting the
tax payer funded bailout. Vice Chairman of Morgan Stanley had a license plate that said “2BG2FAIL” on his Porsche Cayenne Turbo. All this while $250 million of bailout money ended up in the hands of Waterfall TALF Opportunity, run by the Morgan Stanley’s owners’ wives– Marry a banker for a $250M tax-payer cash injection.
The bank also got a SECRET $2.041 Trillion bailout from the Federal Reserve during the crisis, beyond the tax payer bailout.
|Wells Fargo has a derivative exposure of $3.332 Trillion dollars.
Its a too big to fail (TBTF) bank. WF has been charged for its role in allegedly pursuing illegal foreclosures and deceptive loan servicing. Wells Fargo was just slapped with a $85 million fine by Federal Reserve for putting good credit borrowers into bad-credit rating (high rate) loans.
In March 2019, Wachovia (owned by Wells Fargo) paid $110 million fine for allowing transactions connected to drug smuggling and a $50 million fine for failing to monitor cash used to ship 22 tons of cocaine. It also failed to monitor $378.4 billion (that’s $378400 millions dollars) worth of transactions to Mexican “casas de cambio” (think WesternUnion, anonymous cash transfer) usually linked to drug cartels. Beyond that, WF lets its’ VIP employees live in foreclosed mansions. WF knows how to cash your legit check, then claim “fraud” and close your account. WF also re-orders your transactions to create more overdraft fees. Wells Fargo’s Wachovia also got a SECRET $159 billion bailoutfrom the Federal Reserve.Wells Fargo paid NO taxes in 2008-2010 and had a tax rate of NEGATIVE 1.4% while making
$49 billion in profit during the same time.
|HSBC has a derivative exposure of $4.321 Trilion dollars.
HSBC is a Hong Kong based bank and its original name is
The Hongkong and Shanghai Banking Corporation Limited.You will find HSBC working a lot with JP Morgan Chase.
Both HSBC and JP Morgan Chase have strong interest in gold & precious metals. HSBC and JP Morgan Chase are often involved together in financial scandals.
Lately HSBC has been sued for allegedly funneling more than $8.9 billion to the largest ponzi-scheme in history – Bernie Maddof’s investment business.
HSBC (along w/ JP Morgan Chase) has been sued for alleged conspiracy suppressing the price of silver and gold, partially through precious metal DERIVATIVES and making billions of dollars on it. State of Hawaii is suing HSBC (and other banks) for deceptive credit card lending practices.
DZ Bank in Germany is suing HSBC (and JP Morgan) for deceptive (lying) practices when selling home-loan-backed securities.
HSBC is also under investigation for laundering billions of dollars.
|Goldman Sachs has a derivative exposure of $44.192 Trillion dollars.
The $1 Trillion pillars towers are double-stacked @ 930 feet (248 m).
The White House is standing next to the Statue of Liberty.Goldman Sachs has advantage over other banks because it has awesome
connections in US Government. A lot of former Goldman employees hold high-level
US Government positions (chart).Mitt Romney’s top donor is Goldman Sachs, and one of Obama’s best donors.
Ex-CEO of Goldman Sachs, Hank Paulson became the Secretary of Treasury under Bush and
during the 2008 financial crisis authored the TARP bill demanding $700 billion bail-out.
In UK, Goldman Sachs escaped £10 million bill on a failed tax avoidance scheme with help of good connections.
The bank is the largest player in the food commodities market, earned $955m from food speculation in 2009” – That’s your $$$.
Goldman Sachs employees are arming themselves with guns in case there is a populist uprising against the bank.
Goldman Sachs calls their investors “muppets“. and use clients to make money for themselves, disregarding the clients.
The bank was fined $22 million for sharing valuable nonpublic information with top clients (Think insider trading with best clients).
Goldman Sachs was part-owner America’s leading website for prostitution ads until the ownership stake was exposed.
Goldman Sachs helped Greece conceal its debt with secret loans, while simultaneously taking advantage of Greece.
Goldman Sachs got a $814 billion SECRET bailout from the Federal Reserve during the 2008 crisis.
Goldman Sachs got $10 billion of the 2008 TARP bailout, and in the same year paid $10.9 billion in employee compensation and “benefits”, while paying a tax rate of 1%. That means an average of $327,000 to each Goldman Sach’s employee.
Bank of America
|Bank of America has a derivative exposure of $50.135 Trillion dollars.BofA is sticking the tax-payers with a MASSIVE bill, by moving derivatives to
accounts insured by the federal government @ total of $53.7 trillion as of 06/2011.
During 2011-12 BofA has been in need of cash, so Warren Buffett gave BofA $5 billion.
Same year BofA sold its stake in China Construction Bank to raise $1.8 billion in cash.Bank of America paid $22 million to settle charges of improperly foreclosing on active-duty troops
BofA recruited 3 cyber attack firms to attack WikiLeaks. but the Anonymous hacker group hacked the security firms first.
BofA was sued for $31 billion in home-loan losses in 2011, the bank is involved in many lawsuits, too many to document.
BofA also received a SECRET $1.344 trillion dollar bailout from the Federal Reserve.
|Citibank has a derivative exposure of $52.102 Trillion dollars.
The $1 Trillion dollar towers are double-stacked @ 930 feet (248 m).Citibank customers have been arrested for trying to close their accounts, while in in Indonesia a man was interrogated to death in Citibank’s special “questioning room”. In 2011 Citibank paid a fine of $285 million for selling home-loan backed bonds to investors, while betting they would lose value (think derivatives/insurance). The man in charge of the unit at Citibank became Obama’s Chief of Staff. 2 weeks before getting hired by Obama he got $900,000 from Citibank for great performance. This was after Citigroup took out $45 billion in bailout money.
Citibank knowingly passed over bad loansto the Federal Housing Administration to insure.Citigroup also received a SECRET $2.513 trillion dollar bailout from the Federal Reserve.
JP Morgan Chase
|JP Morgan Chase has a derivative exposure of $70.151 Trillion dollars.
$70 Trillion is roughly the size of the entire world’s economy.
The $1 Trillion dollar towers are double-stacked @ 930 feet (248 m).JP Morgan is rumored to hold 50->80% of the copper market, and manipulated the market by massive purchases. JP Morgan is also guilty of manipulating the silver market to make billions. In 2010 JP Morgan had 3 perfect trading quarters and only lost money on 8 days. Lawsuits on home foreclosures have been filed against JP Morgan. Aluminum price is manipulated by JP Morgan through large physical ownership of material and creating bottlenecks during transport. JP Morgan was among the banks involved in the seizure of $620 million in assets for alleged fraud linked to derivatives. JP Morgan got $25 billion taxpayer in bailout money. It has no intention of using the money to lend to customers, but instead will use it to drive out competition. The bank is also the largest owner of BP – the oil spill company. During the oil spill the bank said that the oil spill is good for the economy.
JP Morgan Chase also received a SECRET $391 billion dollar bailout from the Federal Reserve.
9 Biggest Banks’ Derivative Exposure – $228.72 Trillion
|Note the little man standing in front of white house. The little worm next to lastfootball field is a truck with $2 billion dollars.
There is no government in the world that has this kind of money. This is roughly 3 times the entire world economy. The unregulated market presents a massive financial risk. The corruption and immorality of the banks makes the situation worse.If you don’t want to banks with these banks, but want to have access to free ATM’s anywhere– most Credit Unions in USA are in the CO-OP ATM network, where all ATM’s are free to any COOP CU member and most support depositing checks. The Credit Unions are like banks, but invest all their profits to give members lower rates and better service. They don’t have shareholders to worry about or have derivatives to purchase and sell.Keep an eye out in the news for “derivative crisis”, as the crisis is inevitable with current falling value of most real assets.
Derivative Data Source: ZeroHedge