By my estimation, the “official starting point” of the government’s commandeering of financial markets was September 17, 2001, when stocks were blatantly supported upon re-opening after the 9/11 attacks. Since then, the level of manipulation has gradually expanded – often, via PPT “trial balloons” following dramatic events like the Enron and Worldcom bankruptcies a year later. All along, the gold Cartel was doing its regular, day-to-day thing (albeit, less maniacally than today); but regarding stocks, the PPT – officially, the “President’s Working Group on Financial Markets” – was still utilized more for “emergency situations” than “day to day operations.” The 2008 crisis altered that status quo forever – although, as I have discussed ad nauseum, it undoubtedly took “TPTB” by surprise. And thus, their immediate reaction more closely resembled a “deer in headlights” than an orchestrated manipulation machine. Hence, the extremely sloppy, public debate regarding TARP; the collapse of major financial firms like Lehman Brothers, AIG, and Fannie Mae; and of course, plunging markets despite their best manipulative efforts.
Eventually, the gargantuan fiscal and monetary easing measures – and undoubtedly, covert operations like the “secret $16 trillion” Federal Reserve loans we learned of years later – enabled financial markets to temporarily rebound. However, by mid-2011, the world was in full-blown economic, financial, and market crisis – culminating with the U.S. itself losing its (ridiculously undeserved) triple-A credit rating. At this point, which I deemed the “point of no return,” the U.S. led a global effort to better organize market manipulations; as signified by the infamous “operation PM annihilation I” Precious Metal raid of September 6th, 2011 – when “dollar-priced gold“, having just hit an all-time high of $1,920/oz, was “mysteriously” smashed hours after one of the most PM-bullish news events of our lifetime; i.e, the Swiss National Bank’s ill-fated decision to peg the Franc to the dying Euro.
At that point, the rigging of stocks, bonds, and PMs increased dramatically – as not only had TPTB mastered the newest “weapons of mass financial destruction” (i.e., derivatives and HFT algorithms), but the global QE movement was shifted into sixth gear. In the U.S., the Fed launched its “Operation Twist” monetization scheme in September 2011, followed by QE3 in December 2012. Meanwhile, Mario Draghi made his equally infamous “whatever it takes” speech in July 2012 (whilst the ECB simultaneously bailed out the Spanish banking system); while in Japan, “Abenomics” was actively discussed throughout Japan’s 2012 election campaign, before being formally launched on April 4th, 2013 – which, “coincidentally,” was just a week before the historic “closed door meeting” between Obama and the heads of the top “TBTF” bank CEOs, on April 11th, 2013 – in which the stated agenda featured the “stability of the financial system.” That very day, Goldman Sachs issued a rare “short sell” recommendation” on gold, which was trading at $1,580/oz at the time; and what a surprise, on Friday, April 12th and Monday, April 15th – the “alternative currencies destruction” was launched.

In attempting to “reflate” markets so aggressively – and in doing so, create a mythical “wealth effect” economic recovery (not possible in a peak debt environment), the potential for a “market accident” – such as surging interest rates or Precious Metals – was extremely high. Thus, the rigging of such markets has since gone berserk – particularly in stocks, bonds, and Precious Metals – causing the greatest economic “deformations” in history. Moreover, said peak debt, coupled with collapsing economic activity and the resulting social and geopolitical unrest, inadvertently caused the “final currency war” to explode in nuclear fashion; yielding unprecedented global currency implosions, and with them, a whole new litany of horrifying ramifications – including an acceleration of the downward global economic spiral, yielding an historic commodity crash, explosive geopolitical tensions, and political revolutions throughout the world. And here we are today, in March 2015, just 3½ years after said “point of no return,” with the world at its low economic point of our lifetimes; debt not only at historic highs, but rising parabolically; the “final currency war” more explosive than ever; and global social discontent at unprecedented levels due to the inflation and wealth disparity caused by such suicidal monetary policies. Clearly, the root cause of this economic hell is the global fiat currency Ponzi scheme that commenced with the gold standard’s abandonment in August 1971; and equally clearly, its terminal stage is upon us. Thus, it wouldn’t surprise me if its final meltdown commences any day, either via collapsing of its own weight, or one of many potential “black swan” events.
As a career financial markets professional, it was very painful weaning myself of the stock investments that made up the entirety of my portfolio until four years ago. Actually, I sold my last non-mining stock in April 2000 – rightfully expecting the global economy to weak ad infinitum. However, I held major positions in PM miners until the spring of 2011 – when I finally gave up, realizing just how hopelessly suppressed they were. I’m still able to enjoy the thrill of the markets via my holdings of physical gold and silver – although obviously, less so lately. However, attempting to “analyze” what remains of “markets” has become near impossible due to said manipulation. Obviously, some markets continue to trade “freely” – and others, partially so; like, for instance, the world’s largest, most important commodity, crude oil. Others, like stocks, bonds, copper and Precious Metals, for example, barely resemble “markets” anymore – but in the latter case, fortunately, the inexorably bullish fundamentals of physical supply and demand will ultimately usurp TPTB’s best manipulative efforts. Ultimately, “Economic Mother Nature” will regain her footing in all financial markets; obviously, more quickly in some than others. However, as each successive market is “lost” to her powers, the odds that the others – all of which are in some way, shape, or form are entwined – doing so increase dramatically, particularly as TPTB have no control over said “black swan” events.
In recent months, I have dedicated a great deal of ink – and airwaves – to the historic crude oil price collapse, and the “island of lies” diffusion indices like the “PMI Services Index” continue to portray a “mythical services boom,” with absolutely no support from real, empirical data.
Obviously, the oil plunge’s impact is exacerbating the Ukrainian crisis, yielding the collapse of the Russian Ruble and Ukrainian Hyrvnia currencies; heightened military activity; and explosive Cold War rhetoric, particularly as Obama recently admitted America’s role in said plunge. Today’s fiery U.S. condemnation by Vladimir Putin – not to mention, the downgrade of Ukraine’s credit rating to “imminent default” status – exemplifies just how unstable the situation has become; and given Ukraine’s geopolitical importance as a continental energy hub, the ugly state of today’s energy markets clearly has the potential to blow the situation sky-high. Which, by the way, is exactly what we warned of a year ago, whilst the MSM propagandized “de-escalation.”
Of course, Ukraine no longer qualifies as a “black swan” situation, as it has been escalating for more than a year now. Will it catalyze World War III, as Paul Craig Roberts anticipates? Who knows? However, what no one was watching until yesterday was the instability in a nation far more geopolitically important, if that was in fact possible; i.e, the tiny OPEC nation of Yemen, which just happens to share a border with not only Saudi Arabia, but the narrow strait separating the Red and Arabian Seas; i.e, the world’s fourth largest oil supply “chokehold.”

Like many Middle Eastern nations, Yemen has had a checkered history of political instability. And thus, it should be no surprise that now, following said historic oil price collapse, a bloody coup attempt has occurred, throwing the entire Middle East into disarray. Consequently, WTI crude prices are back above $50/bbl, having surged from a six-year low of $42/bbl last week despite some of the ugliest inventory builds in recorded history. To which, I point out what I have written for the past six months; i.e., “barring hyperinflation or Mideast war,” oil prices have nowhere to go but down.
Ironically, it was just Tuesday morning when I penned “the stock crash to end all stock crashes” – which, by the way, was not a short-term prediction; but, to the contrary, a broad analysis of how overvalued psychotic Central policies have caused stocks to become. Since then, the “Dow Jones Propaganda Average” has plunged 400 points; whilst gold – despite vicious Cartel contesting – has pushed back above the last month’s respective “lines in the sand” of $1,200/oz gold and $17/oz silver. Trust me, the PPT will fight tooth and nail to prevent stocks from materially declining. However, if they fail – let alone, if the Cartel, too, has trouble suppressing gold and silver – the Fed can always use said decline (“due to” the Yemeni War) as its excuse for the inevitable “Yellen Reversal” – and with it, the QE4 America’s debt addiction so desperately needs. Not to heal itself, mind you (it will only make it sicker); but conversely, to avoid it instantaneously dropping dead. Which, of course, it mathematically must; at which point, if you haven’t already protected yourself with physical gold and silver, it will already be too late.
It was a good idea to do a history of this whole aftermath of the abandonment of the Gold Standard in 1971 to the present moment. The ramifications continue to show themselves, which hopefully will encourage some folks who have come late to the “party” to buy a ticket and get on the train before it pulls out of the station.
I understand that you can get very good tickets through Miles Franklin- we all better get ’em while they last!
Amazing how others don’t try to do the same. It’s so OBVIOUS what has happened, and where this is going.
couldn’t even read this….some paragraphs would be nice…probably some good info in there..but i gave up
I have no idea what your issue is.
What he said – great summary of the recent financial fiasco. One tends to forget just how many dirty tricks and stupid choices these jerks have made just in the last decade. we really appreciate your talents for analysis and your ability to convey it clearly. KH
Thanks!
“To which, I point out what I have written for the past six months; i.e., “barring hyperinflation or Mideast war,” oil prices have nowhere to go but down.”
On the other hand, betting against war in the MENA area is probably not the best bet in town. They’ve been at it for, what, 4,000 years now? And with no resolution in sight, so more of the same seems inevitable. Or, is it the scale of the war that is the issue here?
That said, my non-professional and un-educated thought here is that it is primarily the Saudis who are at work with the over-production of crude oil and the resulting price collapse. This is aimed squarely at fracking, which requires a higher price to be profitable. If the Saudis can cause enough financial pain among the frackers and those who backed them financially, they will be able to bring prices up after the frackers have been well and truly fracked; not only for now but for many years yet to come. This also will put the kibosh on selling fracking equipment and technology to other countries, which is another financial benefit that is being bought via these artificially low prices. All this is aided by a slowing world economy and falling demand for oil as well, so more than one thing has lined up to make this possible.
The US Gov knows that the oil price collapse has been engineered for the above reason but isn’t objecting to it for a couple of reasons: 1) it is doing major financial damage to Russia, Iran, and Venezuela; and 2) the Obamunists don’t really like oil or nat gas, so don’t care if the frackers get crushed by falling oil prices. They want MUCH higher oil and gas prices so that their smoke and mirrors energy alternatives will, at long last, finally make at least some financial sense.
And that’s my $0.02 worth… 🙂
I didn’t say I was betting against war, particularly in light of the title of this article. Either way, owning gold and silver are the polar opposite of “betting.” To the contrary, they are saving, and insuring.
And that whole things about the U.S. government being involved in the oil price collapse is ridiculous, even if Obama is dumb enough to intimate such.
THE ENTIRE GLOBAL COMMODITY COMPLEX IS COLLAPSING, due to surging supply and plummeting demand. The U.S. has as little say in oil prices, other than perhaps a bit of near-term manipulative noise, as Exxon Mobil or even OPEC these days.
Great job Andy, I read it 3 times.. So in the future when my
young & tender offspring gather round me and ask, ” Hey
Great,Great, Great Grandpa Norsey, will you tell again how it
was before the dreaded Fiat and how the whole world got screwed
by the Banksters & how you saved out small clan with “The REAL
MONEY”?
I’ll have a lot to say thanks to you.
You’re very welcome!
after black thursday in 1929, there was a small market rally on friday because there was a meeting with “important bankers” who decided to buy tons of shares of stock to prop up the market. then the 1929 crash occurred.
i see constant references to the powers that be (TPTB) and i read the Miles Franklin definition of it.
Andy, lets say your China de-pegging the yuan from the USD occurs, and we find ourselves in a serious panic (not sure what that would look like). who today do you think would be called to a meeting to figure out what can be done, although probably futile, but the ones to finally throw in the kitchen sink?
who are the real TPTB? i can only think they are heads of the largest banks, hedge funds, or whatever that have massive financial influence. politicians are worthless and idiots if the best we can do after 2008 is by Dodd & Frank. the only power i see them having is to regulate (which happens after the fact) and providing get-out-of-jail-free cards.
Terrell,
Absolutely, there are high level meetings between “powers that be” regarding market manipulation and propaganda schemes – none more infamous than the “closed door” meeting between Obama and the top TBTF bank CEOs on April 11th, 2013, the day before gold and silver were smashed in what I deemed the “alternative currencies destruction” – launching the current “recovery”, “tapering”, and “potential rate hike” propaganda scheme that aside from rigged markets, is decidedly failing.
When I refer to powers that be, it is decidedly NOT global. No, the “Rothschilds” or “Bildebergs” are not pulling strings; but instead, the power bases (principally bankers, politicians, and influential industrialists and financiers) within individual nations (and trading blocks like the European Union) are simply doing what it takes to kick the can down their own, respective fiat roads – although of course, they do from time to time collude.
When the system breaks, there is no way of knowing what will happen in the chaos. However, I don’t think anyone will be called in, as everyone will simply due what they can to survive.