Socio-Economics History Blog

Socio-Economics & History Commentary

GATA’s Bill Murphy on the JP Morgan Silver Shortage And The Next Bullion Bank Run!

  • Welcome to Capital Account. Gold futures slipped ahead of the ECB policy-setting meeting this week, or so the story goes. Do these macro trends drive gold prices as much as the headlines indicate? Our guest Bill Murphy, Chairman of GATA, doesn’t think so and he has flown to our studio in Washington DC to make the case.

    Last month after a report surfaced that US regulators planned to drop the silver market manipulation probe, CFTC Commissioner Bart Chilton described the report as premature and inaccurate. We haven’t heard much since, but our guest Bill Murphy has an update on the bank at the center of silver manipulation claims, JP Morgan. JP Morgan has a major problem with their massive short position according to GATA. Bill believes that it won’t be long before their role in the market manipulation scheme is exposed. Meanwhile, the silver market maybe the tightest it has ever been to secure physical supply in size, and delivery can take months. Bill Murphy, author of, forecasts the bank will have a problem with its short silver position in the near future. Could it explode this month? He says yes and explains why.

    Also, today’s gold and silver markets are not the same your father’s precious metals markets. The creation of Gold and Silver ETFs, as well as the growth of the precious metals derivatives market, has had a dramatic effect on prices. We talk to Bill Murphy about how growth in precious metals derivatives and ETFs has led to shifts in the metals market. He tells us why we should be concerned that HSBC and JP Morgan serve as custodians for the major gold ETF, the GLD, and the major silver ETF, the SLV, when they also have large short positions in gold and silver.


September 6, 2012 Posted by | Economics | , , , , , , , , , , | Comments Off on GATA’s Bill Murphy on the JP Morgan Silver Shortage And The Next Bullion Bank Run!

James Turk: Expect $2,500 Gold & Silver To Smash All-Time Highs!

  • Expect $2,500 Gold & Silver To Smash All-Time Highs! 
    Today Tom Fitzpatrick spoke with King World News about the recent surge in both gold and silver.  Fitzpatrick expects silver to smash through its all-time highs as the price of gold hits, “… $2,450 to $2,500 as we move into the first quarter of 2013.”

    Here is what top Citi analyst Fitzpatrick had to say, along with some powerful charts:  “We now feel like we’ve at least got the first leg in what we think is the start of a move that’s going to take gold significantly higher.  Gold has broken out of the top of this triangle (see chart below), and above the downward sloping trendline.

    That should open up the way now for a test of what we believe to be the more important level at around $1,791, which was the peak earlier in the year.  If gold can break through that level, and we believe gold will eventually, we will complete a double-bottom within the triangle, which will give a target in the region of $2,060 an ounce.

    read more!


September 6, 2012 Posted by | Economics | , , , , , , , , , , , | Comments Off on James Turk: Expect $2,500 Gold & Silver To Smash All-Time Highs!

Alex Jones: Social Security Gearing Up for Civil Unrest !

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A Vote For Obama Is A Vote For Thermonuclear War!

Click on image to view complete file!

“There is one issue and one issue only in this election: Thermonuclear war and the power to destroy the American people. That power is now in the hands of Barack Obama. LaRouche warned early this week, “If that President is reelected, you are dead! … You have no other issue to celebrate or to even worry about. It will all be taken off your shoulders when they kill you.” Remove Barack Obama and remove the threat of thermonuclear war.”

“It is understood by leading military figures throughout the world, that any regional confrontation would inevitably escalate into world war!”
– Quote

  • Clarification: I am not a fan of Romney or Paul Ryan. They are Illuminist money power puppets! Only Ron Paul or forget about voting!


September 6, 2012 Posted by | GeoPolitics | , , , , , , , , , , , , , | 1 Comment

9/11: The Toronto Hearings with David Ray Griffin! The Official US Government Account is a LIE!!

  • David Ray Griffin: Inadequacies of the 9/11 Commission’s Report 
    The Toronto Hearings were held at Ryerson University in Toronto, Canada, during the 10th anniversary weekend of 9/11.

    September 11, 2011 marks the 10th anniversary of the events in New York and Washington that have played a dramatic role in modern history. These events have provided a pretext for a War on Terror that has replaced the Cold War as a global conflict framework within which military invasions and occupations have taken place, as well as violations of international law and human rights and a widespread assault on the civil rights crucial to democracies. Global military spending, which began a rapid downswing after the end of the Cold War, has, with the help of the official account of the 9/11 attacks, risen to Cold War levels and continues to rise. The focus on military solutions to complex human problems has sidetracked humanity at the very moment when international cooperation is most required to address genuine challenges that humanity faces.

    In the meantime, the credibility of the official reports on the 9/11 attacks (by the 9/11 Commission, the Federal Emergency Management Agency, the National Institute of Standards and Technology, the Federal Bureau of Investigation and other government or government-appointed agencies) has been questioned by millions of citizens in the United States and abroad, including victim family members, expert witnesses and international legal experts.

    The International Center for 9/11 Studies has therefore decided to sponsor four days of International Hearings in the city of Toronto, Canada on the 10th anniversary of the events of September 11, 2001. During these Hearings, which will be broadcasted via the Internet, various expert witnesses will present the best available evidence into the case, discovered in the ten years since the 9/11 events occurred.

    For more information please visit:


September 6, 2012 Posted by | History, Social Trends | , , , , , , , , , , | Comments Off on 9/11: The Toronto Hearings with David Ray Griffin! The Official US Government Account is a LIE!!

9/11 Explosive Evidence! Experts Speak Out !

  • 9/11 was an inside job planned by the Illuminist shadow government and executed via CIA and Mossad. The Illuminists are driving the world to their Satanic World War 3 Plan!


September 6, 2012 Posted by | GeoPolitics, History | , , , , , , , , , , | Comments Off on 9/11 Explosive Evidence! Experts Speak Out !

Al-Qaeda Leader Strikes Deal With U.S., Saudis To Send 5,000 Fighters To Syria!

“Al Qaeda is a creation of the US intelligence apparatus! It is extremely well documented ! Many of the terrorist attacks are in fact orchestrated by the US intelligence and military!” – Michel Chossudovsky, 7:40 onwards

  • Al-Qaeda Leader Strikes Deal With U.S., Saudis To Send 5,000 Fighters to Syria
    by Paul Joseph Watson, 
    Yemeni Jihadist personally trained by Bin Laden
    A militant who fought alongside Osama Bin Laden in Afghanistan and is now the leader of a group affiliated with Al-Qaeda in South Yemen has struck a deal with the United States and Saudi Arabia to send 5,000 Al-Qaeda fighters into Syria according to reports out of the Middle East.

    Tariq al-Fadhli, jihadist leader of the Southern Yemen insurgency and a man personally trained by Bin Laden, has successfully negotiated with U.S. and Saudi officials to send 5,000 jihadist fighters via Turkey to aid Syrian rebels in the attempted overthrow of President Bashar Al-Assad, reports AlAlam. The report was also picked up by

    In a newspaper interview, al-Fadhli revealed that he had agreed to transfer 5,000 militants from the southern Yemen cities of Zanzibar and Jaar “to Syria in order to fight in war being waged by armed groups, including the Al Qaeda-linked groups against the Syrian regime.”

    The militants, who refer to themselves as “supporters of Shariah,” will join other bands of Al-Qaeda fighters who have swarmed into Syria from Libya, Iraq and Turkey with the aid of NATO powers and Gulf states. In a July 30 report, the London Guardian admitted that Al-Qaeda fighters were commanding Syrian rebels and teaching them how to build bombs.

    The Council on Foreign Relations, America’s most influential foreign policy think tank and a close ally of the U.S. State Department, recently praised the presence of Al-Qaeda fighters in Syria, while the RAND Corporation reportedthat the terrorist group had been responsible for suicide attacks and car bombings that have caused more than 200 deaths and 1,000 injuries.

    President Barack Obama recently signed a secret order confirming that he would use taxpayer money to support Syrian rebels with “non-lethal aid”. However, the New York Times admits that the CIA is helping steer heavy weaponry to the rebels on the Turkish border paid for by Saudi Arabia and Qatar.

    Indicating his willingness to begin a new alliance with Saudi Arabia, which helped train him during his mujahideen years, Sheikh Fadhli announced “a regional deal for the transfer of al-Qaeda fighters from Yemeni territory to Turkey to the Syrian front, which explains the sudden withdrawal of gunmen from Abyan.”

    Yemeni authorities were only able to restore order in Zanzibar and Jaar this past June after battles that killed a number of Al-Qaeda fighters. AlAlam describes al-Fadhli as “one of the elders of the tribe of Abyan and former leader of al-Qaeda.” According to the New York Times, Yemen has denounced al-Fadhli as “one the country’s most dangerous terrorists.”

    read more!

“The ultimate goal that these people have in mind … is the goal to create a One World Government run by the banking industry .. run by the bankers! … The whole agenda is to create a One World Government where everybody has an RFID chip implanted !”
– Aaron Russo 0:15 onwards

“He’s (Rockefeller) the one who told me 11 months before 9/11 ever happen, there was going to be an event. .. And out of that event we will invade Afghanistan, (for) the pipelines to the Caspian sea. We were going to invade Iraq .. to take over the oil fields, establish a base in the Middle East and make it all a part of the New World Order! And we will go after Chavez Venezuela. Sure enough 9/11 happened ! … And there was going to be this War on Terror which has no real enemy. And the whole thing is a giant HOAX! … This whole War on Terror is a FRAUD! ”
– Aaron Russo 2:30 onwards


September 6, 2012 Posted by | GeoPolitics | , , , , , , , , , , , , | Comments Off on Al-Qaeda Leader Strikes Deal With U.S., Saudis To Send 5,000 Fighters To Syria!

700,000 Palestinians were in Israeli Jails Since 1967 !

Revelation 2:9 – …. and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.

“ … it turns out the creation of Israel had not, after all, been a haphazard fight in which the Arabs fled their homes at the directives of their own leaders, but it had been an unprovoked, systematic campaign of ethnic cleansing by the Jewish militia involving massacres, terrorism and the wholesale looting of an entire nation.” from 4:22 onwards


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Something VERY BIG is Coming To Silver!!

  • Something VERY BIG is Coming to Silver!! 
    by , 
    Something truly very big is coming to the financial markets, and the precious  metals are the place to be when that something big happens. Too many analysts have come out lately, throwing around lofty targets to the  price of gold  and silver  markets, and to take place within a very short period of time, for nothing  concrete scheduled by global monetary ‘authorities’.

    Something more than mere conjecture is at play. The latest prediction for a moonshot in the silver  market comes from Goldmoney Founder James Turk, who foresees,  not only a massive short squeeze coming, but also surmises, at least, momentum  also popping the top off the price of the poor-man’s monetary metal.

    “I expect to see $68-$70 in 2-to-3 months,” Turk tells King World  News (KWN), Monday.

    Though incredible as that prediction may seem, others very close to the silver (and gold) market  expect a similar explosive move in the metal. “We could see those levels ($4,500 – $5,000 on gold)  within a year and possibly much faster,” Swiss money manager Egon von Greyerz  told KWN, Aug. 23. “This autumn we are going to have a very strong  move.

    “If we look at silver,  silver is going to move a lot faster than gold,” he added.  “The same technical target for silver is  $150.  That would move the gold/silver ratio down to 30/1.”

    Whatever the catalyst for such an eye-popping move in the metals will be,  someone in-the-know convinced GATA’s Bill Murphy that the  coming news will be big—big enough to unleash silver from the grips of the JP  Morgan-led cartel.

    “The fellow I spoke with I’ve known for years, one of the wealthier men in  all of Europe,” Murphy told theSGTreport, Jul.  19.  “He’s got a lot of connections . . . It will be tough for the  gold and silver markets [during the month of July], but starting in August they  would start to ‘go nuts’, and they would ‘stay nuts’ for a long time. . . Big,  big moves are coming, starting in August.”

    So far, Murphy’s source is spot on. After briefly falling below $28, Aug. 20, the silver  price soared $3.75 cents to $31.72, or 13.5 percent, to close out the month  of August, breaking out of its 15-month-long descending trend line.

    Could a truly favorable announcement from the CFTC regarding the JP Morgan  manipulation scheme in the silver market be the catalyst for such a big move in  silver?  Not likely.  But the news that could cause silver  to “go nuts” might come from an announcement of another sort—a coordinated  announcement by central bank of more ‘QE’, as JSMineset’s Jim Sinclair has  suggested many months ago is inevitable.

    It appears that Sinclair’s prediction, too, could be spot on, and if it were  to come to pass, the flood of cash into the gold and silver market from hedge  fund and institutional money managers would provide the needed ammunition to  overwhelm JP Morgan’s price suppression scheme.

    “Central banks need to take a more international perspective, recognize their  collective influence and take into account monetary policy spillovers,” Jaime  Caruana, general manager of the Bank for International Settlements told  policymakers at Jackson Hole, Montana, the annual venue for central bankers.

    The source of that quote comes from Reuters’ Alister Bull,  who added, “Bernanke, in the audience at the luncheon address, did not flatly  reject the suggestion, but he noted that a discussion about international  monetary policy cooperation also implied cooperation on foreign  exchange rates.”

    After witnessing the effects on financial markets due to rapidly changing exchange rates  leading up the 1987 stock market  crash and the exacerbation of the Asian currency  crisis of 1997-8, central planners won’t want to repeat that exercise.

    The implications of a global coordination to debase the worlds major  currencies are unprecedented in monetary history, as analysts outside of Wall  Street’s “Hall of Mirrors” (as Jim Grant referred to the Fed‘s  deception) warn investors that the purpose of further central banking‘easing’ beyond the already-failed economic growth policies of QE1 and QE2 has  more to do with maintaining the illusion of solvency than these programs have  done for economic expansion.

    “For the first approximately 50 years of the last century, every additional  $1 of debt in the U.S. created $4.60 of (additional) GDP,” von Greyerz told KWN,  Aug. 30.  “In the last 10 years, every new dollar of debt has created  6 cents of GDP.”

    But unlike the stock market  crash of 1987 and Asian currency crisis, investors will  have no strong currency with a deep enough market to sidestep a simultaneous  devaluation of the world’s major fiat currencies.

    The Swiss franc is loosely pegged to the euro; the BOJ is likely to be apart  of the global coordination, along with the BOE; the Aussie and Canadian dollar  are too small of a market; the Chinese will also be easing, according to Jim  Rickards; and emerging market currencies that depend on healthy developed  economies will ease as well in an effort to ameliorate a further drop off in  exports due to a rise in their currencies against the dollar and euro.

    For the first time in monetary history, the entire globe will embark on a  currency debasement scheme, forced upon all nations by the Fed,  primarily, and the ECB, secondarily, which, together, represent approximately 89  percent of all currency reserves held by central banks.

    According to Goldmoney’s Turk, that scenario is the setup for what he refers  to as “stage II” of the silver bull market—a stage in which the rallies are long  and the rising prices attract institutional money as well as the wealthy retail  investor into the market.

    A move past the all-time high of $52 to Turk’s $70 target means that “silver  is finally entering stage II of its bull market,” Turk tells KWN’s Eric  King.  “That is when it will really gets exciting,  Eric.  The first stage of a bull market, which is the one we are now  in for silver, is always the boring part.

    If a move in the silver  price from $17.50 to nearly $50—within an eight-month period, beginning Aug.  2010 and ending Apr. 2011—is the “boring part,” the heights in store for silver  investors during stage II could make some silver ‘stackers’ very rich,  indeed.


September 6, 2012 Posted by | Economics | , , , , , , , , , , , , , | Comments Off on Something VERY BIG is Coming To Silver!!

The Real Hunger Games: Big Commodity Traders Control World Grain Market !

  • Who are the people behind these commodity traders, hedge funds … who are manipulating commodity prices? The 13 Satanic bloodlines! It is via their global currency hegemony: the petrodollar USD that they rule the world. With it they finance wars, manipulate prices, cause famine, destroy nations …. etc. Famine is coming because of them. The coming global currency crisis will result in hyperinflation and famine!


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U.S. Reveals Plan To Bomb Iran’s Civilian Power Grid !

  • U.S. Reveals Plan to Bomb Iran’s Civilian Power Grid
    by Kurt Nimmo, 
    The United States is ready to violate international law and attack Iran’s civilian population if the country does not halt its nuclear program, the New York Times reported on Sunday.

    The U.S. is “reluctantly” considering additional covert action against Iran, according to the Christian Science Monitor. The plan calls for air strikes on power plants and other sites “that could impact Iranian civilian populations.”

    Under the Laws and Customs of War on Land (Hague, IV), drafted October 18, 1907, it is illegal to bomb civilian infrastructure and the Nuremberg Principles state that “devastation not justified by military necessity” is a war crime.

    In November, we reported on comments made by current and former U.S. intelligence officials who stated Israel’s target list includes Iran’s electric grid, internet, cellphone network, and emergency frequencies for firemen and police officers.

    Targeting civilian infrastructure is now a common practice. Beginning in 1991, Iraqi civilians and their infrastructure were deliberately targeted by the U.S. military. The savage bombardment had a “near apocalyptic impact” on Iraq and had transformed the country into a “pre-industrial age nation,” which “had been until January a rather highly urbanized and mechanized society,” writes author William Blum, citing United Nations observations.

    “Bombing of Iraqi cities served no military purpose but was designed to destroy the civilian infrastructure. War games in July 1990 in South Carolina trained pilots to bomb civilian targets and Pentagon statements about plans to bomb civilian targets in August and September 1990 are evidence that these targets were set well in advance of January 15, 1991,” writes David Model in his book, Lying for Empire: How to Commit War Crimes With A Straight Face.

    “Critical elements of the civilian infrastructure were destroyed including communication systems, oil refineries, electric generators, water treatment facilities, dams, and transportation centers,” Model continues. “Over 90 percent of Iraq’s electrical capacity was destroyed in the first days of the bombing.”

    The New York Times also reported that the United States is ready to turn up the heat in the Persian Gulf when it conducts a large-scale minesweeping naval exercise in the Persian Gulf later this month. It is also stepping up efforts to finish building a new radar system in Qatar. The U.S. claims the system in combination with existing radar in Turkey and Israel will create an antimissile umbrella around and against Iran, according to the Christian Science Monitor.


September 6, 2012 Posted by | GeoPolitics, Social Trends | , , , , , , , , | Comments Off on U.S. Reveals Plan To Bomb Iran’s Civilian Power Grid !

Danielle Park: Printing Money Has Stopped Working!

Click on image to play the 4 Sep 2012 interview of Danielle Park by Kerry Lutz !

  • Danielle Park – Printing Money Has Stopped Working! 
    by FinancialSurvivalNet
    The Baltic Dry Index is getting close to all time lows. Worldwide demand for goods is shrinking. Will the government just walk away and let it all blow up or will they simply turn up the speed on the printing presses for another round of QE? Danielle thinks it doesn’t really matter and that we have never really gotten out of the crisis of 2008. While the investment sector thought things were great, the rest of the world has been mired in the global turndown. The economic models are no longer working and yet the elite are trying to keep them afloat. Low to no growth will go on for many years to come. Therefore, liquidation of debt becomes crucial. Danielle dared to utter those words that most terrify the Global Elite Banking Cabal–Debt Jubilee.


September 6, 2012 Posted by | Economics | , , , , , , , , , , , , , | Comments Off on Danielle Park: Printing Money Has Stopped Working!

For Spain, The Beginning Of The End Arrives As Bank Of Spain Starts Using ELA!

I don’t think the Spanish Matador is winning!

  • For Spain, The Beginning Of The End Arrives As Bank Of Spain Starts Using ELA! 
    by Tyler Durden,
    As we described in detail yesterday, things are going from worse to worserer as the problems in Spain – more specifically in its banking sector – are deepening as deposit flight accelerates. As the WSJ notes PIMCOs’ comment: “A bank ‘jog’ is happening in Spain – the private sector is leaving the banking system.” But the Bank of Spain isn’t leaving anything to chance. The WSJ disconcertingly highlights that last month the central bank appears for the first time to have activated an emergency lending program that will enable its banks to borrow from the Bank of Spain directly, bypassing the ECB’s relatively tough collateral demands.

    The so-called Emergency Liquidity Assistance program is shrouded in secrecy, and the Bank of Spain won’t confirm that it has been used. The Bank of Spain appears to have doled out about EUR400mm under the program, based on publicly available data. That would make Spain at least the fourth euro-zone country – following Greece, Ireland and Portugal – to use the ELA, which generally is reserved for situations when banks have exhausted all other financing options.

    As we pointed out yesterday, this would appear to confirm a “full-blown bailout” is imminent, as the collateral problems mount. And The Bank of Spain was quick to respond to this reality (with a denial):

    read more!


September 6, 2012 Posted by | Economics | , , , , , , , | Comments Off on For Spain, The Beginning Of The End Arrives As Bank Of Spain Starts Using ELA!

Gary Johnson on Looming Economic Collapse! Bond Market Meltdown?!


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GATA: Serious Silver Delivery Problems! JP Morgue In Deep Trouble Over Naked Silver Shorts!

  • Gold & silver manipulation have resurfaced as issues in the mainstream media, with U.S. Republicans calling for a return to the gold standard; but what are the thoughts of long-time anti-trust activist and head of GATA, Bill Murphy, on this “renewed strength” in gold & silver manipulation theories? Murphy, who has long been calling attention to the suspected manipulation of the metals markets by Western central banks, says his sources tell him that JP Morgan will soon be experiencing problems with their silver positions, and will likely be unable to deliver silver to their long-positions. However coincidentally, these rumors of trouble among JPM’s silver trading activities comes a short time after the CFTC announced that it would be dropping its 4-year probe into manipulation of the silver markets. Although he does not know whether the CFTC will be doing anything about JPM’s alleged activities, Murphy insists that his sources have confirmed “huge problems with their [JPM’s] short positions” and believes himself that some kind of scandal will be breaking this month, and that we will see serious delivery problems by year’s end. Bill Murphy takes us deeper into the world of gold & silver market manipulation, and explains in greater detail the more intricate aspects behind his and GATA’s beliefs. Kitco New, Sept. 5, 2012.


September 6, 2012 Posted by | Economics | , , , , , , , , | Comments Off on GATA: Serious Silver Delivery Problems! JP Morgue In Deep Trouble Over Naked Silver Shorts!