The Phaserl


Andy Hoffman Catches the Blatant Cartel Price Fixing, Again. And Again.

by Andy Hoffman,

It’s 3:30 AM MST, and I’m writing because I couldn’t sleep.  I see the 2:15 AM capping algorithm arrived on queue for the ninth day in a row – and 102nd time in the past 114 trading days; as I knew it would, given PM’s strong day yesterday and the upcoming COMEX options expiration on Monday.  Just as Bill Holter noted that JP Morgan reported EXACT (“.000”) gold tonnage delivered to its COMEX warehouse this week – in an event with odds of occurring once in four million years – the Cartel’s machinations have become so obvious, the ENTIRE WORLD is awakening to it.  The Chinese and Russians are well aware of these financial crimes; and thus, are buying PHYSICAL gold in record amounts.  Heck, even long-time allies like the Saudis are starting to realize America’s leaders mean them harm; and thus, are acting accordingly.

Consequently, it’s inevitable that PAPER crime centers like the COMEX are destroyed; yielding the end of a worldwide fiat Ponzi scheme that has ravaged the lives of “the 99%.”  And frankly, the sooner the better, regardless of the temporary pain we will ALL endure…

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5 comments to Andy Hoffman Catches the Blatant Cartel Price Fixing, Again. And Again.

  • joe

    Martin Armstrong says the gold and silver followers are nuts and that this is just part of normal market action…he further states if the comex was not around there would be no ability for price discovery of anything in the commodities space.

  • Frank Zak

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  • rich

    How to Make Money for Nothing Like Wall Street Credit default swaps might not be financial WMDs anymore, but Wall Street can still game them to make guaranteed profits.

    2. Sell so many CDS on a bond that you can pay to keep it from defaulting. This is like selling insurance to as many people as possible on a car that was obviously falling apart — and then paying to fix it before it could get in an accident.

    The problem with CDS is you can manipulate them to pay off, and you can manipulate them to not pay off.

    The first is what economists call the “empty creditor” hypothesis. When a company gets in trouble, a creditor normally has every incentive to voluntarily restructure a bond rather than have it involuntarily restructured in bankruptcy. Better to make the deal yourself than a judge, who will rank your claim against everyone else’s. But say a creditor has CDS on its bonds. Then that creditor might get more money by refusing to restructure, and forcing the company into bankruptcy. That’s a less elegant version of what Blackstone did. It added in the wrinkle of bribing the company to only briefly default on the specific bonds it held, rather than going through bankruptcy. But Blackstone did put the threat of bankruptcy very much on the table by saying it would call in the company’s revolving loan if the company paid its bond on time. The second is basically an empty contract. You sell insurance on something, and then act to make sure that insurance never pays out. It’s harder to do, because there aren’t many bonds you can pay off yourself that are also crappy enough to sell enough insurance on. In either case, it’s money for nothing.

    There’s no such thing as too good be true on Wall Street.

    think about it………………..cookie cutter model.

  • Ed_B

    “Remember, Tuesday’s NFP report was so bad, there’s no longer a sole on Earth anticipating “tapering” until next Spring – if at all; you know, the very thing that has been supposedly holding PM prices down for the past year.”

    Who cares what the bottom of someone’s shoe thinks about anything? lol

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