in LIBOR-related fraud which exceeds (present tense) $350 trillion in scope. No, the news was that this crime syndicate has now proclaimed that its acts of fraud are themselves “too big to fail”.
As the banking cabal’s favorite apologist, it was delegated to Bloomberg to frame the announcement of this obscenity, in its best media spin. Naturally Bloomberg did not use the phrase “too big to fail” when it explained why these bankers must be allowed to continue their crimes:
…because structural changes risk invalidating trillions of dollars of contracts.
This euphemism from Bloomberg is, itself, perverse to the point of being fraudulent. The banking cabal has admitted their fraud in this $350 trillion crime spree (more than 5 times the size of the entire global economy). As a matter of law, all of these contracts became null-and-void the moment this fraud was discovered (and confessed).
Indeed, it is a separate (criminal) act of fraud for each and every one of these contracts which continues to be enforced despite being null-and-void as a fundamental precept of the Rule of Law. To demand that these contracts remain in effect is nothing less than a proclamation that the Rule of Law no longer exists. Crime becomes “OK” as long as it’s large enough (or as long as the perpetrators wear expensive enough suits).
It was bad enough following the Crash of ‘08 that this financial crime syndicate was allowed to proclaim itself “too big to fail”. The message it sent (to a group of psychopathic gambling addicts) was this: if you increased the total amount of your bets to a high enough threshold (leveraged to the hilt, naturally) this qualified you for Permanent Corporate Welfare.
To provide an exclamation point to this insanity, Wall Street then proceeded to extort $15+ trillions in assorted hand-outs and subsidies from the U.S. government (and U.S. taxpayer), an amount greater in size than the entire U.S. economy. As I observed at the time, even if these monstrous hand-outs had not taken place, as a basic proposition of logic “too big to fail” must actually mean too big to exist.
The logic is tautological. Being allowed to exist with a status of “too big to fail” means nothing less than a permanent license to blackmail. It is literally financial terrorism: ‘Give us what we want or we will blow up the world.’ The difference with these financial terrorists is that they are holding the entire world as their hostages.
Our governments’ stance against terrorists has always been clear and unequivocal: they don’t negotiate with them. Thus the day the Wall Street terrorists issued their TBTF proclamation, and their $15+ trillion in extortion demands was the day that this crime syndicate had made its own extermination an absolute imperative.
The fact that the U.S. government (and other Western governments) refused to follow their own anti-terrorism dogma has resulted in the inevitable: the terrorists have escalated their crimes against humanity (as in Greece, where the suicide rate has doubled). For 2 ½ years I have been relentlessly documenting this escalation in financial terrorism.
Regular readers are well aware that the so-called “Euro debt crisis” is in fact itself merelyanother terrorist campaign by Wall Street. Through the fraudulent manipulation of credit default swaps, and with the active cooperation of both the media propaganda machine and the credit ratings agencies, these terrorists can manipulate the interest rates of any debt market in Europe (and likely the world) to any interest rate they desire.
As a matter of arithmetic, this means that any nation with even a single dollar of debt could theoretically be bankrupted. With a collection of governments which were already teetering on insolvency when Wall Street began its latest crime spree, pushing them past the point of no return was child’s play. This was yet another indication that this terrorist syndicate was too big to exist.
The serial “bail-outs” in which the governments of Europe have been engaging are nothing less than the latest blackmail payments to these terrorists. Understand how this serial blackmail operates. Europe’s political leaders (on the advice of their bankers) engage in another pseudo-bailout by simply printing countless billions of euros out of thin air, and then the Wall Street banks immediately claw-back every penny of those bail-outs through driving interest rates higher. It is nothing less than the systemic theft of all the wealth of all Europeans (except the Oligarchs themselves).
The difference between this serial terrorism/extortion and the $15+ in extortion which Wall Street plundered after the Crash of ’08 is that this extortion is being done for the bankers’ own Masters: the Bond Parasites. These are the shadowy Oligarchs whom Charles Savoie has chronicled in the detailed chronology which he has titled “The Silver Stealers”.
They are secretly, silently holding $10’s of trillions in “IOU’s” on sovereign Western debt, nothing less than yokes of economic slavery which they have fastened around the throats of our governments (and all of us). With our servile, hypocritical governments having again violated their own doctrine on giving in to terrorists, the terrorists have now become brazen to the point of outright arrogance.
They no longer even worry about the need to hide their crimes. As long as their crimes are large enough, the crimes themselves are now too big to fail, or so they insist. Extortion which was implicit is now explicit. The implicit imperative to exterminate these financial terrorists is now an explicit imperative. You serve us, the terrorists have publicly proclaimed.
It is one of the most basic principles of economics (and capitalism) that monopolies or oligopolies (such as Wall Street) cannot be allowed to exist. These are inherently parasitic entities, which provide zero societal benefit of any kind, and do nothing but blood-suck more and more and wealth out of the overall economy. That is what capitalist theory tells us.
What of the empirical evidence? During the Rise of the Oligopoly, our economies have been structurally destroyed and drowned in debt. Individually, employment has collapsed and we are personally drowning in our own debts. As they taught me in law school, this is known as “proof beyond a reasonable doubt”. The Western financial crime syndicate is history’s ultimate example of a parasitic oligopoly.
On June 26, 2012; these financial terrorists announced that they would now openly engage in their serial criminal conspiracies, starting with the largest of them all: the $350 trillion LIBOR-fraud. None of our governments – the world’s most rabid “anti-terrorist” regimes – had a single word to say about this obscene proclamation. This is nothing less than an implicit declaration of the moral and legal illegitimacy of every one of these governments.
At best, our governments are despicable hypocrites: pounding their chests (and dropping their bombs) when the “terrorists” are poor Muslims; meekly kow-towing to extortion demands when the terrorists are White (and wear very, very expensive suits). At worst, our governments are now active co-conspirators.
The terrorists have brazenly announced that they are simply going to openly continue their $350-trillion LIBOR fraud, and (according to them) there is nothing we can do about it. Given the deafening silence of our (anti-terrorist) governments to this announcement, our suspicions must lean toward our governments being accomplices rather than mere hypocrite-victims.
Every scrap of paper in our wallets (and every bond in our investment portfolio) is now inextricably linked to this $350-trillion LIBOR fraud. The message is clear (if it wasn’t already clear after the plundering of MF Global accounts): any-and-all paper we hold is entirely at the mercy of the worst criminals/terrorists the world has ever known.
While precious metals investors did not need another reason to shift their own wealth out of paper and into metal (which cannot be stolen/destroyed by bankster crime), this is another pretty good one.
Related: Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS), ProShares UltraShort Financials (NYSEARCA:SKF), Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ), Financial Select Sector SPDR ETF (NYSEARCA:XLF), Citigroup (NYSE:C), Morgan Stanley (NYSE:MS), Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM).
Jeff Nielson is from Canada and is a writer/editor for Bullion Bulls Canada www.bullionbullscanada.com. He has a personal background in law and economics. Bullion Bulls Canada provides general macro-economic and political commentary, since the precious metals markets are among the most complex (and misunderstood) in the world.
Bullion Bulls Canada also provides basic coverage of Canadian precious metals mining companies. Canada is the global leader in mining exploration, and Canadian-listed mining companies (on the Toronto Stock Exchange and Venture Exchange) are responsible for the majority of the world’s most-promising discoveries.