The Hoarding Continues: China Has Imported More Gold In Six Months Than Portugal’s Entire Gold Reserve
No One Will Charged With a Crime for the MF Global Collapse
Social Security Administration To Purchase 174 Thousand Rounds Of Hollow Point Bullets
Just a little bit of news in the last 24 hours. First, we learned that China has purchased 382 tonnes of Gold in the first 6 months of the year. This amounts to over 750 tonnes annualized and better than 25% of the worlds’ global production. When you add in their own production of over 200 tonnes, they will have accumulated nearly as much as the WGC says are their official holdings. Do you think that they may have a tad more than the 1054 tonnes that we are told? Of course, if you were already asking yourself this question, the next logical question would be “why are they so hellbent on accumulating more”? Especially at these current prices that we are assured daily that represent bubble prices in the stratosphere.
We also got the (good) news (for Jon Corzine) that NO ONE will be prosecuted for the commingling and THEFT of over $1 Billion in client funds at MF Global. …uh, is anyone surprised? Yep, under the rug with this one too. It was a “mistake” and as the CFTC has promised us, new regulations have been put in place to prevent this from ever happening again…until last month with PFG Best’s downfall. The fraud is so “in your face rampant” that even with the admission and paper trail that client funds were outright STOLEN (and looks to have ended up in JP Morgan’s pocket), NO ONE will even pay a penny in penalty or even 30 minutes time to be “booked”. No, it is now so bad that they don’t even bother to arrest anyone even for “appearance” sake. Meanwhile, back at the grocery store, the guy who stole a loaf of bread worth $1 to feed his family, got caught and will do 5 years time and charged a $10,000 fine. Gee…with this as precedent, I wonder how what the CFTC will be saying about the Silver investigation…anything?
The last “little bit” of news is my favorite, the Social Security administration has just ordered 150,000,000 rounds of ammunition! This last order brings the total ordered by the government in the last 3 or 4 months to the rough round number of…wait for it…yes, that’s right 1 BILLION rounds! I believe that Homeland Security was the first big purchase which I understand, we must have a secure homeland. But then the IRS ordered a few hundred million rounds, I don’t really get this unless they plan to go on a collection campaign hunting down deadbeats. But Social Security? What’s up with this? Do they plan on “culling” a few “recipients”? Have the benefit lines gotten so unruly that people need to be shot?
I don’t know about you but I normally try to “connect the dots” when I see news. How can these dots be connected? Maybe…China knows that their $1 Trillion ++ in Dollar reserves is in the process of going up in smoke because there is no longer even the pretense of the rule of law in the U.S.? Maybe…because there is not even an attempt at protecting the dispensable muppet population from the insider wolves, the government is readying for a “muppet revolt”? 1 Billion rounds of ammo? Maybe… maybe my @$#! There is only one explanation for this. The powers that be absolutely know that they are losing control of the whole rig. This “rig” has been going on for years and been going on within our borders and extended to the four corners of the Earth. They are readying for the day that they can no longer hold the “rigs” and the muppets finally and collectively figure out that they’ve been had…but good!
Mentally though, you must go one step further than this. When the system seizes up and the banks go on holiday forcing everything else from raw product to transportation, from distribution to final product on the shelves to evaporate…these bullets will be used by who? Our soldiers? Maybe. IRS and Social Security agents? Maybe. But won’t these people also have lost their paper balances? Don’t they have families that like to eat from time to time? Ah…the last dot we are forgetting about. The UN treaty! Once this gets signed by executive order, it will be “legal” for foreign troops on our soil. THAT’s the last dot!
Go ahead, say I’m nuts. Say I’m being alarmist, crazy, over the top or anything else that you’d like. I wrote back in 2007-2008 that we were headed for a sovereign default BEFORE it was “OK” to do so. Now, turn on any TV or radio station and you’ll hear about the fiscal cliff and will hear the the words “bankrupt” and “default” on a regular basis. All you need to do is connect the dots, it’s not a pretty picture by any means but it is pretty easy to do.