The Paper Aristocracy

in action:

Market News International reports that the Bank for International Settlements, the Bank of England, and the Federal Reserve sold gold today to smash it back down after it spiked up this morning. "So much for all those sworn testimony claims that the central bankers do not manipulate the price of gold" - Tyler Durden

"Ladies and gentlemen, the President and I weren't back there blaming Jon Corzine then. You know what we were doing? We were on the phone calling Jon Corzine. Literally. I said 'Jon, what do you think we should do?' " - Joe Biden

"The Post got hold of Hank Paulson's telephone records back in 2009 … Among his regular phone buds was Lloyd Blankfein, who, for example, spoke six times with Paulson on Sept. 18, 2008. That was a day of great market turmoil … There were many recipients of Paulson's calls. And the conversations went on for years and were especially frequent when Washington needed a friend on Wall Street … it is the biggest story that'll ever be broken in the history of American financial journalism -- the U.S. markets are rigged, with the elite and connected getting a distinct unfair advantage over the rest of us schlumps." -John Crudele, New York Post

"The game is rigged and nobody seems to notice. Nobody seems to care. Good honest hard-working people . . . white collar, blue collar it doesn’t matter what color shirt you have on. Good honest hard-working people continue, these are people of modest means . . . continue to elect these rich ***** who don’t give a ***** about you. They don’t give a ***** about you . . . they don’t give a ***** about you. They don’t care about you at all . . . at all . . . at all, and nobody seems to notice. Nobody seems to care. That’s what the owners count on. The fact that Americans will probably remain willfully ignorant of the big red, white and blue dick that’s being jammed up their ass everyday, because the owners of this country know the truth. It’s called the American Dream, ’cause you have to be asleep to believe it . . .”

-George Carlin

1 comment:

Warren James said...

Selling gold contracts, right? (btw that's my new thing - calling it 'contracts' rather than 'paper' - more accurate apparently). These guys are pretty clever at the big balancing act. So the game continues.

Preying on the weak is easier with tools of psychological manipulation (like these giant slides), along with mis-education about monetary principles and a bit of fluoride in the water.

Despite the damage to gold (congratulations Turd for the call), trend still looks great.