Alchemists’ Dream is Realized in Modern Finance

They don’t even need lead.  They can convert paper to gold:

“Beware: “Allocated” Gold May Not Really Be There

“In 2007, Morgan Stanley paid out $4.4 million to settle a class-action lawsuit by its clients after Morgan Stanley charged them to buy and “store” precious metals for them,  but neither bought or stored the metals.  (Similarly, a 2011 class-action lawsuit filed in federal court in New York accused UBS Financial Services of misleading silver investors and charging them storage fees for metal that was never actually purchased,  segregated, and stored for them.)

“Avery Goodman points out that Morgan Stanley has once again just launched a similar scam, offering “allocated” metals, but gaming the definition so that the holdings are not really allocated.

“On May 21st, Matterhorn Asset Management’s Egon von Greyerz alleged that Swiss banks are trading physical gold bullion which is being held in special “allocated” accounts for its customers:

We are stressing to investors to take their gold out of the banking system, not only because there are runs on banks that will continue, but the risk of being in the banking system is major. So you should take the additional step of not just owning physical gold, but also owning it outside of the banking system. …

http://www.washingtonsblog.com/2012/07/beware-allocated-gold-may-not-really-be-there.html

The same thing is happening with silver, and in the commodities exchanges as well.  That’s why obama has added the exchanges to the list of “too big to fail” institutions.

 

Libor Has Been Manipulated for 15 Years

Libor is the world-wide benchmark interest rate that banks charge each other.  Every other interest rate is affected by it.

“The FSA has identified price-rigging dating back to 2005, yet some current and former traders say that problems go back much further than that. “Fifteen years ago the word was that LIBOR was being rigged,” says one industry veteran closely involved in the LIBOR process. “It was one of those well kept secrets, but the regulator was asleep, the Bank of England didn’t care and…[the banks participating were] happy with the reference prices.” Says another: “Going back to the late 1980s, when I was a trader, you saw some pretty odd fixings…With traders, if you don’t actually nail it down, they’ll steal it.”

“Given that homeowners, students, credit card holders, and other borrowers pay more when rates are higher, the banks appear to have fleeced consumers for 10 years during the entire bull run leading up to the financial crisis.”

http://www.washingtonsblog.com/2012/07/have-banks-been-manipulating-libor-since-1997.html

Aldous Huxley: The Ultimate Revolution

“Traditionally it has been possible to suppress individual freedom through the application of physical coercion through the appeal of ideologies through the manipulation of man’s physical and social environment and more recently through the techniques, the cruder techniques of psychological conditioning. The Ultimate Revolution, about which Mr. Huxley will speak today, concerns itself with the development of new behavioral controls, which operate directly on the psycho-physiological organisms of man. That is the capacity to replace external constraint by internal compulsions. As those of us who are familiar with Mr. Huxley’s works will know, this is a subject of which he has been concerned for quite a period of time. Mr. Huxley will make a presentation of approximately half an hour followed by some brief discussions …”

http://publicintelligence.net/aldous-huxley-1962-u-c-berkeley-speech-on-the-ultimate-revolution/