In a new edition of their Organized Crime / Banking At Its Finest Show, Canadian financial analyst Rob Kirby and German financial journalist Lars Schall discuss this week’s dismissal by the U.S. Commodity Futures Trading Commission of complaints about manipulation of the silver market. In particular, Kirby and Schall focus on a powerful entity that is rarely mentioned in financial mainstream journalism, if at all: the Exchange Stabilization Fund.
By Lars Schall
For the comment made by GATA’s Chris Powell, that gets mentioned in this edition of The Organized Crime / Banking At Its Finest Show, see here. Moreover, here you can find the 5-part video series on the U.S. Treasury’s Exchange Stabilization Fund (ESF) that Kirby is referring to at Eric de Carbonnel’s web site, MarketSkeptics.com.
Rob Kirby wants to add to the statements that you’re about to hear, in summary: “If the CFTC admitted that the ESF is intervening in markets to the extent they are – the implications would be THAT WE NO LONGER HAVE REAL MARKETS – PERIOD. Hence, they hear and see NOTHING.”
And now without further ado:
The Organized Crime / Banking At Its Finest Show
Rob Kirby, who is the publisher of the “Kirby Analytics Newsletter“ and a consultant to the Gold Anti-Trust Action Committee (http://www.gata.org/), was born 1960 in Halifax, Nova Scotia, Canada. He studied Economics at York University in Toronto. Upon completion, he went to work in the Bay Street, the financial district in Toronto. He served on an institutional trading desk for most of the 1980s and right up until 1996. For 11 years he worked at Prebon Yamane, an international inter-dealer broker, and one year at Freedom Bond Brokers (now part of Cantor Fitzgerald). Afterwards he spent two years at Garban Inc., another inter dealer bond brokerage in Toronto. In 2002, he went to work for Investor’s Group, the largest Mutual Fund Company in Canada, and stayed there up until 2004, when he resigned to write about the markets. His website is: http://www.kirbyanalytics.com/. Mr. Kirby lives in Toronto, Canada.
So the ESF is the ultimate rogue state. I would think that they would survive the coming financial collapse by naked short selling everything that is crashing. They may even trigger the collapse when they and their cohorts are positioned to benefit.
Rob Kirby, many thanks for your enlightening talk as usual. Please watch your back, many like you have met a sudden death, something which likely happened to Eric deCarbonnel!
A few points about the US and ESF.
The US has the most appalling track record of any country on the planet, with an unbroken history of crimes against humanity since its inception.
240 years, 70 countries invaded, destroyed and occupied; and every single country on the planet violated in some way from blackmail, bullying, threats, subversion destabilization, black covert ops, assassinations of leaders, dissidents, human rights activists etc, to the formation, funding and importing of ‘rebels’ or ‘oppositions’, aka Death Squads, plus many other unspeakable crimes against humanity.
So no, the US NEVER had anything but the most heinous record as a rogue state; all you need to do is read history or the REAL kind.
The ESF is likely funded, as you say from looted wealth, firstly from the recovered, aka stolen, wealth which the Japs looted from across Asia in their heinous rampage across east Asia in the late 1800s to the end of WWII. This amounted to trillions upon trillions of wealth in Gold, precious stones, artefacts and every kind of valuable which these barbarians under the orders of war criminal Hiroito raped. See ‘Gold Warriors’ by the Seagraves.
Then of course the trading in a rigged market is by its very nature profitable, so the ESF must have raped trillions upon trillions from productive citizens during the course of its sordid existence, while the banksters, being in on the loop will equally profiteer from this nefarious racketeering in the suppression/rigging crime.
@veracity
You forgot to mention the currency exchange rates as a weapon of domination since the end of Bretton-Woods. Nobody ever figured a formula why 1USD exchanges for 30 Thai Bahts. The only formula that I know of is to buy world resources for fewer green bucks.