Don't Be A Fool

The Working Group on Financial Markets (also, President's Working Group on Financial Markets or the Working Group) was created by Executive Order 12631,[1] signed on March 18, 1988 by United States President Ronald Reagan.

The Group was established explicitly in response to events in the financial markets surrounding October 19, 1987 ("Black Monday") to give recommendations for legislative and private sector solutions for "enhancing the integrity, efficiency, orderliness, and competitiveness of [United States] financial markets and maintaining investor confidence".[1]

As established by Executive Order 12631, the Working Group consists of:
The Secretary of the Treasury, or his designee (as Chairman of the Working Group);
The Chairman of the Board of Governors of the Federal Reserve System, or his designee;
The Chairman of the Securities and Exchange Commission, or his designee; and
The Chairman of the Commodity Futures Trading Commission, or her designee.

http://en.wikipedia.org/wiki/Working_Group_on_Financial_Markets


The Chairman of the Commodity Futures Trading Commission is a seated member of the Plunge Protection Team. Did not know that...do now. At 2PM est on Monday, March 17, 2008 President Bush met with the group above at the White House. Together they put together a plan that was hoped to baffle the investing public with their BULLSHIT! It worked for a day. Today the Dow gave back 2/3 of yesterday's 420 point gain. There are no more Aces up their sleeves.

Obviously with the Chairman of the CFTC present, a plan was hatched to use some of the counterfeit money the Treasury and Fed are printing, and handing out like candy on Halloween to the investment banks, to terrorize the Precious Metals Markets. Giving new meaning to "A Fool And His Money Are Soon Parted", fool after fool headed for the exits at the same time. Interestingly, none of the fools live on the other side of the planet. The Asians, Indians, Russians, and Europeans all awoke to a sale on Gold...and they were buying. They bought through the evening, thru the night, and into the morning. That is until, while the Chairman of the CFTC looked the other way, The NY COMEX opend at 8:20 and once again with brazen criminal intent, flaunted the "free market" system in the face of Precious Metals Bulls. More fools soon parted with their money and headed for the exits as the Fed sponsored investment banks used freshly printed US Dollars to sell "paper contracts" into the Precious Metals markets and force prices lower. I wish I could buy Precious Metals with money I printed at home, but that's illegal. Of course so is what the investment banks are doing. But when their actions are condoned by the individual who's responsibility it is to maintain the legitimacy of these markets is encouraging the crime, it's no wonder our financial system is on life support.

The rest of the planet must be giddy with anticipation. "These Americans must be some of the dumbest SOBs on God's Earth. Selling their Gold as their financial system implodes? Thank you very much for the Silver and Gold. You won't be getting an opportunity to buy it back anytime soon."

Do any of these Fools have any idea how small the Precious Metals markets really are? There are approximately [supposedly] 135 million ounces of Silver in the NY COMEX warehouses. Do any of these fools realize that for the "chump change" sum of just $2.5 Billion [at today's prices], all of that Silver could be bought? $7.05 Billion would by all the Gold at the NY COMEX. For less than $10 Billion you could wipe out the NY COMEX. $10 Billion is camel piss. The Fed just handed JP Morgan $30 Billion to buy up Bear Stearns. Why do you think they are called Precious Metals fools. Because there ain't much of them around. And the rest of the world knows it, and the rest of the world is standing in line to buy them on sale.

LOL, is it any wonder these Fed sponsored "investment" banks are ALL on the brink of bankruptcy? Is it any wonder the United States of America is already bankrupt? These criminals have been trying to keep Gold down for the past seven years. Gold has quadrupled in price instead. The more they work to suppress it, the higher it will go.

Pissed off? Yeah I'm pissed of, tired of the BULLSHIT. As I said yesterday, Gold is up 39% since the Fed began cutting interest rates back in August 2007. The Fed has now cut interest rates by 71% since August. 1/4 of that total 3.00 cut came just yesterday. You're telling me that Gold is NOT going higher from here? Your telling me that I should sell my Gold because the Fed just did the right thing and saved the world financial system? BULLSHIT! The ONLY hope for the world financial system is Gold. Buy, Buy, Buy!

I will not even attempt to dissect this move in the Precious Metals here. Technical analysis is useless in an environment such as this. Focus on the Metals 50 day moving averages. ALL fundamentals suggest Gold should be screaming towards infinity [it was Sunday evening] yet it is not. It is not because it does not trade in a "free market". Gold is going higher though. A lot higher. If you maintain that conviction, be a SHITKICKER. Refuse to sell your Gold. Refuse to sell your Silver. Don't be a FOOL.


Paulson Is 'F**king Incompetent'

Within the space of a week, the Federal Reserve announced the emission of $400 billion in cash to bail out the bankrupt U.S. banking system,...

The soaring price of oil, and the consequent price of gasoline, are effects of this bailout operation. The price of oil is set, not by OPEC, but by the financial markets, and so every time you fill up your car with $3-plus/gallon gasoline, you are paying a hidden tax to bail out the banking system. The same thing happens when you buy a loaf of bread, because of the speculation on wheat which has sent prices soaring. The hyperventilating you do when you fill up your car or buy groceries, is actually caused by the hyperinflationary collapse of the financial system, and these foolish attempts to save it. http://www.larouchepub.com/other/2008/3512paulson_incomptnt.html