Precious Metal Market Manipulation

The cat is officially out of the bank (I mean bag), listen to this interview on Kings News World.

Andrew Maguire & Adrian Douglas: Discuss What Could Be the Largest Fraud in History - Andrew is an independent metals trader turned whistleblower at the center of a storm for exposing what could be the largest fraud in history involving countries, banks and government leaders. Adrian Douglas Board of Director from GATA, the man who Andrew reached out to joins in this interview where they discuss a fraud so extraordinary and so unimaginable that it is the kind of thing that only happens in hollywood thrillers. They also discuss the CFTC sponsored meeting on metals which was an unmitigated disaster because it additionally exposed the fraud on a grander scale.


This will probably be one of the largest fraud in years and the mainstream media has not even touched it.

March 26, 2010

This weeks interview
Thomas Woods
Author of



This week's article
The central bankers simply didn't do their jobs
Canada.com

Blair's fight to keep his oil cash secret: Former PM's deals are revealed as his earnings since 2007 reach £20million
Mail Online

JGB yield curve steepens as big buyers' faith dented
Reuters

Canadians not saving enough: Dodge
Globe and Mail

In Prior Week Money Markets Recorded Biggest Outflow Since Collapse Of Lehman At $60 Billion, Or 2.2% Of Assets
Zero Hedge

Latvia government collapses amid economic crisis
Telegraph

Buy-to-let: 58pc rise in tenants defaulting on rent

Telegraph

Moody's Warns Of Upcoming Bank Downgrades If Dodd Bill Passes, BofA, Citi And Wells At Greatest Risk
Zero Hedge

Broke? Buy a few warships, France tells Greece
Reuters

States Are the Canary In the Fiscal Coal Mine
RealClearMarkets.com

10 Year Swap Spreads Turns Negative
Zero Hedge

New Home Sales Plunge To New All Time Record Low, 308K SAAR Is 2.2% Frop From Revised 315K In January
Zero Hedge

Higher interest rates could be coming sooner, says Bank of Canada governor
Canadabubble.com

Canadians worried about home prices, mortgage rates: Surveys
Canadabubble.com

Links for Friday, March 19, 2010

Links for today's show

Marc Faber: Don't Expect Another Crash ... Bernanke Won't Allow it
Yahoo Finance

Lehman bosses used accountancy gimmick to cover up debt
Times Online

Shipping Indices Highlight a Potential Commodities Sell Off
OilPrice.com

The $2 Trillion Hole
Barron's

Can Ottawa tame its deficit beast?
Canadabubble.com

House prices on verge of double dip
Telegraph

Bank of England warns of 'considerable uncertainty' over jobs
Telegraph

Dylan Ratigan Show
MSNBC

Lehman Bankruptcy Report: Top Officials Manipulated Balance Sheets, JPMorgan And Citi Contributed To Collapse
Huffington Post

Why the sun looks poised to set on Japan's era of cheap government debt
Telegraph

New from the 1930's
http://newsfrom1930.blogspot.com/

Selling Of Treasuries Continues By China And Japan As UK, Oil Exporter, Hedge Fund Holdings Jump
Zero Hedge

Michael Lewis Discusses Wall Street's Neverending Mass Delusions
Zero Hedge

Former President Of Just Failed Park Avenue Bank Arrested On Bank Bribery, Embezzlement And Fraud Charges
Zero Hedge

More Empty Posturing Out Of Moody's - Rating Agency Once Again Threatens With US Downgrade
Zero Hedge

NAHB Builder Confidence Drops To June 2009 Levels, Winter Snowfall Blamed As Usual
Zero Hedge

Still no money for Prichard pensioners
Fox

Europe's banks brace for UK debt crisis
Telegraph

German bloc plays tough on Greece
Telegraph

Britain warns China against protectionism
Telegraph

SocGen: There Is No Way Out Of This Mess But Continued Massive Deleveraging
Business Insider

David Rosenberg: You Think Housing Is Recovering? Check Out These Charts
Business Insider

There's Deep Fraud On Wall Street, And Goldman's Behavior In Greece Is Just The Tip
Business Insider

NJ Seeks to Skip $3 Billion Pension Payment

Pension Pulse

China in Midst of ‘Greatest Bubble in History,’ Rickards Says
Bloombeg

The proposed EU Greek bail-out cannot simply bypass German law
Telegraph

ECB's Juergen Stark Warns Of "Clear Risk Of Sovereign Debt Crisis," Cautions Recovery Largely Due To Massive Support By Governments And Central Banks
Zero Hedge

Strategic Defaults Are Soaring In California, And Now They Might Really Explode

Business Insider

Lehman’s Desperate Housewives
Vanity Fair

Guest Post: More Evidence that Banks Create Credit Out of Thin Air
Naked Capitalism

Deutsche Bank, JPMorgan, UBS Are Charged With Fraud
Bloomberg

Shipping Market Worst Since World War II, Fisher Says
Bloomberg

Now Bernanke Wants To Eliminate Reserve Requirements Completely
Business Insider

Greece Gives Germany And European Union One Week Ultimatum (No, You Are Not Dyslexic)
Zero Hedge

Marc Faber: We Have a New Gold Standard
CNBC

Links for March 12th

From 20 Minutes with Mark and the Markets
Germany: The Unnamed Co-Conspirator
ZeroHedge

Scenarios: Euro zone faces two-class future after Greece
Reurers

Dubai World to Seek Loan Delay in Talks, Bankers Say
Bloomberg

Europe may consider IMF-style institution to avoid next Greek crisis
Telegragh

Fitch Announces Another Record In CMBS Delinquencies
Zerohedge

I am not a criminal, insists billionaire behind Icesave
Telegrah

I am not a criminal, insists billionaire behind Icesave
Telegraph

China will be prudent in buying gold: official
Reuters

Washington Must Ban U.S. Credit Derivatives as Traders Demand Gold
Huffington Post

Greek Crisis Is Over, Rest of Region Safe, Prodi Says
Bloomberg

China hits at currency ‘protectionism’
Financial Times

Moody's Warns Of Pain Ahead For Financials, Profitability Concerns Due To Record Charge-Offs
Zerohedge

Greece brought to a halt by austerity protest strike
Times Online

Greeks Strike Over Budget Cuts, Bonds, Stocks Decline
Bloomberg

PIMCO's El-Erian: You Fools Don't Realize That The Sovereign Debt Crisis Goes WAY Beyond Greece
Business Insider

Muni Bond Market Begins To Burst With Defaults
Business Insider

Rick Bookstaber: Hedge Funds Are Pumping The Gold Bubble And Luring Investors Off A Cliff
Business Insider

Forget Greece: Italy derivatives bomb also ticking
Reuters

Detroit Sells $250 Million Without Recent Disclosure Filings
Bloomberg

It's Going To Implode: Buy Physical Gold - NOW
Zerohedge

Big ax looming at the FDNY: Threat of 1,000 layoffs, closing of 62 fire companies
NY Daily News

List of banks under stress keeps growing
MSNBC

Fed Shoulders AIG Loan Losses to Ease Sale to MetLife
Bloomberg

Last Friday's Show Material

Interview with Tim Carney

Here is the link to purchase his book.



Articles from 20 Minutes with Mark and the Market

Greek, Portuguese Workers Strike, Protest Against Deficit Cuts
Bloomberg

What problem?

Oops.
Gath Turner's blog

Governor Christie: "Time to Hold Hands and Jump Off the Cliff" - Chris Christie For President?


Rep. Suzie Bassi: "Illinois in Utter Crisis, Next to Bankruptcy, $13bn Hole in a $28bn Budget"; Ambrose Evans Pritchard Inflicted with FIV
Mish's blog

Ken Rogoff On Japan's Slow Motion Crisis

Marc Faber: "I Would Recommend People Buy Every Month Some Gold For Ever"

Moody's Downgrades Deutsche Bank From Aa1/B To Aa3/C+
Zero Hedge

Is the Sprott Physical Gold Trust in the Market Trying to Buy 10 Tonnes of Gold?
jessescrossroadscafe.blogspot.com

Quebec living off the rest of Canada?

An intresting study was published by the Frontier Centre for Public Policy about equalizations payments in Canada. The paper is called The Real Have-Nots in Confederation: Ontario, Alberta and British Columbia.

Here is a small summary:

''Equalization is a $14.2 billion federal program which transfers federal tax dollars to provincial governments. In 2009/10, Quebec will take the lion’s share of the money at almost $8.4 billion, while the other major recipients include Manitoba at just over $2-billion, New Brunswick at almost $1.7 billion, and Nova Scotia at almost $1.4 billion.

This study takes the “long view” of equalization. Thus, while Ontario will receive equalization payments of $347 million this year, this is an anomaly; most years, Ontario is a “have” province on equalization and is counted as such in this study. In addition, Ontario is still a net contributor to confederation and federal coffers when other transfer programs are included.

Equalization is described in the following manner Subsection 36(2) of the Constitution Act, 1982:

“Parliament and the government of Canada are committed to the principle of making equalization payments to ensure that provincial governments have sufficient revenues to provide reasonably comparable levels of public services at reasonably comparable levels of taxation.”

Findings:

In fact, far from “comparable levels of services,” British Columbia, Alberta and Ontario have lesser levels of services. For example:

· Nova Scotia and Quebec have more doctors per 100,000 people than do B.C., Alberta and Ontario;
· New Brunswick, Prince Edwards Island, Nova Scotia, Manitoba, and Quebec have more nurses per 100,000 people than do Ontario, Alberta and British Columbia;
· Prince Edwards Island, New Brunswick, Manitoba, and Nova Scotia have more long-term residential care beds per 100,000 people than do Ontario, Alberta and British Columbia;
· On social service spending, Quebec spends more per capita than any other province, at $2,342, while British Columbia is second at $1,702; the other two have provinces, Alberta and Ontario, spend $1,592 and $1,398 respectively;
· In terms of provincial public servants per 100,000 people, PEI, Manitoba, New Brunswick, Nova Scotia and Quebec all have more provincial civil servants than do Ontario, Alberta and British Columbia; perhaps more than any other indicator, this measurement reveals how have provinces subsidize large governments in the have-not provinces through the federal equalization program.

“The real have-nots in Confederation are those provinces that have, through their federal tax dollars, historically contributed massive amounts to equalization,” write authors Eisen and Milke. “British Columbia, Alberta and Ontario now find their benefits from taxation are demonstrably fewer than those available in the provinces to which they have contributed so much, the so-called have-nots.” ''


These issues really comes out in tough economic times. The Have provinces will really begin looking at these issues in the futur as times get tough and will demand changes. This will leave Quebec in a tough situation. The solution for Quebec is to move towards encouraging entrepreneurship and not dependance on state programs.