BIG BANKS BEING EXPOSED
By
Dr. Stephen Jones: Nov 17, 2018
In
1971 President Nixon announced wage and price controls. It was not long before
store shelves were empty, and no one wanted to sell their produce at those
frozen prices.
Deutsche Bank, BofA, JPM Are
Drawn Into Danske Probe
On
Aug. 15, 1971, in a nationally televised address, Nixon announced, “I am today
ordering a freeze on all prices and wages throughout the United States.”
After
a 90-day freeze, increases would have to be approved by a “Pay Board” and a
“Price Commission,” with an eye toward eventually lifting controls —
conveniently, after the 1972 election.
Putting
the U.S. economy “into a permanent straitjacket would … stifle the expansion of
our free enterprise system,” Nixon said. As President George W. Bush put it in
2008, sometimes you have to “abandon free-market principles to save the
free-market system….”
As
Nobel Prize-winning economist Milton Friedman correctly predicted, however,
Nixon’s gambit ended “in utter failure and the emergence into the open of the
suppressed inflation.” The people would pay the price — but not until after
he’d coasted to a landslide re-election in 1972 over Democratic Sen. George
McGovern.
The
government saw that this was a failed policy, so they made one major change.
Instead of directly implementing price controls, they began to manipulate the
markets behind the scenes. The price of gold and silver, for instance, was
manipulated behind the scenes in order to prop up the dollar after cutting it
loose from the gold standard.
Every
event has to be seen in context, because every event is part of a sequence.
Essentially, what has happened is that the government institutes a bad policy
and then finds it necessary to find ways to solve the problems caused by the
original bad policy. Further band aids are then necessary year after year until
their medicine cabinet is depleted and the whole thing implodes.
A Century of Sequential
Events
One
way to look at the sequence in the past century may look like this: Congress
passed the Federal Reserve Act in December 1913, giving the right to create
money to powerful private bankers. The US government goes bankrupt in 1933. The
government then steals private gold from the people and put it into the
Exchange Stabilization Fund to fund the new Babylonian Socialist government and
its culture-changers.
Then
they plan World War 2, which destroys Europe. This leaves the USA as the only
nation in the world whose industry has not been destroyed. The US dollar
becomes the world currency in 1944 as per the Bretton Woods summit. The US
government abuses its position in the 1950’s by overprinting money that could never
be backed by the amount of gold in Ft. Knox. The CIA wants a war in Viet Nam,
but President Kennedy objects. The CIA insists. Kennedy declares war on the CIA
and loses that war in 1963.
The
Viet Nam war causes the USA to print more money. France then gets worried and
wants gold rather than dollars in its trade settlements. Nixon closes the gold
window in 1971, cutting the dollar loose from gold. Inflation increases. Nixon
announces wage and price controls to combat inflation. That fails, so the government
decides that the problem is caused by informing the public. They go underground
and begin manipulating prices without public knowledge. Government power
increases, and personal liberties are reduced.
Meanwhile,
the made an agreement with Saudi Arabia to back the dollar with something
new—oil. That created the petro-dollar to replace the gold-backed dollar. It
caused a whole new round of consequences affecting the Middle East, resulting
in funding Islamic countries with their agendas. Ultimately, we found ourselves
in a “War on Terror,” which treated symptoms without dealing with the cause.
That
is obviously an oversimplification. Many factors were involved. But I think
this is a pretty good genealogy of our policy “child” today.
Government
officials soon found that to manipulate successfully, they had to manipulate
virtually all prices. This soon destroyed the free market, so today no one
knows the true price of anything. Traders, speculators, and investors who have
not understood what was happening have essentially been defrauded of profits
that they would have made if prices had been allowed to increase. For instance,
the price of gold and silver would have increased greatly in relation to the US
dollar, if there had been a free market. But there was not.
Forty
years ago industry was using up more silver than was being produced, and yet
the price of silver was going down. It made no sense, but few understood what
was happening. Yet people like Ted Butler, a long-time silver analyst, figured
it out quite early and made a career out of exposing the problem. He went to
the authorities and informed them that the derivatives market was supposed to
be derived from the physical market, not the other way around. The government
regulators were not interested, because they were part of the problem.
During
the past 40 years, if the government had stopped its manipulation and let the
market decide the price of everything, there would be a lot of turmoil for a
while, and the press would have blamed the president. The real culprits, of
course, are the hidden masters of Mystery Babylon who hire “advisors” to
surround the presidents and feed him selected information.
There
have been regular news reports over the years about various banks engaging in
money-laundering or price fixing. In recent years the Justice Department has
imposed fines on various banks on charges of price manipulation, but most of
the manipulation was being done under government contract, so very little of
this has been prosecuted.
JP
Morgan Manipulation
On
November 6, the Justice Department published the news that a JP Morgan trader
had pleaded guilty to metals price manipulation. He says that he had been
trained by the company to do this, essentially implication the entire company,
and other banks colluded with them as well.
On
November 12, 2018 this news came out:
Former
J.P. Morgan Trader Pleads Guilty To Gold and Silver Manipulation
The
website of the
U.S. Department of Justice stated the following:
“A former precious metals
trader (John Edmonds) at a United States bank (Bank) pleaded guilty in a
proceeding unsealed yesterday to commodities fraud and a spoofing conspiracy in
connection with his participation in fraudulent and deceptive trading activity
in the precious metals futures contracts markets.
As part of his plea, Edmonds
admitted that from approximately 2009 through 2015, he conspired with other
precious metals traders at the Bank to manipulate the markets for gold, silver,
platinum and palladium futures contracts traded on the New York Mercantile
Exchange Inc.”
Of
course this is not the first set of charges brought in the precious metals
manipulation saga. Deutsche Bank has been caught.
And recently the Bank of Nova Scotia was
caught as well.
Meanwhile,
JP Morgan has accumulated about 700 million ounces of silver, planning for the
day when silver manipulation is no longer possible. They know that when the
manipulation collapses, they can survive the crash if they own a lot of silver.
But meanwhile, they have shorted the price of silver in order to depress the
price, allowing them to buy silver at low prices. Their inside information has
allowed them to defraud the average investor who thought that there was a free
market and saw that there was also a shortage of physical silver. A free market
would dictate that the price of silver should increase considerably.
The
wheels of justice grind slowly, so we do not know how long this will drag on.
However, the news this month shows that something is brewing. The bottom line
is that the wealthy have a huge advantage over the average person in “the
pursuit of happiness,” as the Declaration of Independence puts it. It is one of
the big reasons why the rich get richer and the poor get poorer.
Collusion
between government and corporate interests is the classic definition of
Fascism. It exists alongside of Communism, which is actually Socialism in
practice. So as the poor get poorer, the Socialist side of government steps in
to steal from the middle class and to giver to the poor. What they cannot steal
through taxes they make up for in borrowing money that is created out of
nothing by the Federal Reserve. The government thus goes deeper in debt and is
thus controlled by its creditors. Hence, we move toward Totalitarianism, which
is the ultimate goal of both Fascism and Communism, both of which were invented
by the same people.
Fortunately,
Bible prophecy shows us that God’s 2,520-year contract with the beast systems
of Babylon has ended. Things are now changing for the better, and though we are
still not out of the darkness, the light is beginning to dawn. It will take
time, but we are on the winning side.
Danske Bank Investigation
Also,
Danske Bank in Denmark has been investigated in recent years for illegal
manipulative actions, and this is now spilling over to JP Morgan, Bank of
America and others who colluded with them.
Danske
Bank, Denmark’s largest lender, has admitted that a large portion of the
roughly $230 billion that flowed through its Estonia branch during the period
under scrutiny -- an amount comparable to Estonia’s entire economic output
during that time -- was suspicious. In recent weeks the bank’s chief executive
officer and chairman have been forced
out over the scandal.
These
banking scandals, I believe, will soon reach a tipping point, and then we will
see more consequences in the days ahead.
Perhaps
we will see more financial news leading up to our "Joseph Conference"
in late January. The Joseph Conference in part is going to deal with financial
issues, as we discuss Kingdom economics and what a righteous monetary system
might look like.
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