Judge Dale (Retired): A Major Change is Coming October 1st

Judge Dale provides some excellent information about what has been going on behind the scenes in the world of banking. To be honest, his comments about gold being used to prop-up the US dollar seem a bit odd, since the gold standard was abandoned in the early 1970s, but the focus here is on October first, since it is only a few days away.

So much has been going on in the last six weeks, and Judge Dale outlines what may be about to happen in the next few days. I’ve been following the BRICS and gold situations closely, and can easily see what he describes actually happening. -LW


Friday, September 26, 2014 3:46   (Before It’s News)

From what I have been able to deduce and conclude regarding the RV / GCR and this is purely an educated opinion:

The London financial district is part and parcel of a world conglomeration involving the Federal Reserve System; the Bank of International Settlements; IMF, CBI’s, World Bank, and Vatican Bank and they have been manipulating the price of “gold and silver” for many years now by keeping its actual value very low.

The reason for manipulating the value of gold and silver was to keep the value of the US Dollar and petrodollar high, in that the conglomeration controls the dollar, which has been the Worlds International Currency since WWII.

China and Russia initiated the formation of the BRICS Alliance around 2008 which now includes roughly 185 Nations, with one motive in mind and that was to create a new transparent and incorruptible world financial system to replace the “dollar and petrodollar” and the totally corrupt Federal Reserve Bank and Bank of International Settlement conglomeration.

China recently established a new gold and silver trading platform in direct competition with London.  Their reason for doing this I will explain next.

The BRICS have been capitalizing on London’s price fixing platform by buying up gold at the corrupted low fixed value rate.

China has been buying the lions share and when China accumulates 5,000 metric tons of gold, their new gold and silver trading platform will revalue the Worlds gold and silver at its true market value.

This true market value will probably be (5X) five times higher than the London market and will be the knockout punch that will bury the US Dollar; the US Military Industrial Complex (Wall Street); the Corporate USG; the FED, BIS, CBI, Vatican and World Banks.

I believe that China is about to revalue gold and silver on or about September 30, which will place the BRICS Alliance in control of the Worlds monetary system.

This is a good thing because the BRICS will force an RV and GCR.

I have three reliable independent sources who are predicting a major change come October 1, 2014 (So I guess we shall see).

The five largest US Banks are currently holding derivatives totaling 40 trillion dollars each, meaning that these five banks are holding the bonds or paper assets that created roughly 200 trillion US Dollars.

When China revalues the Worlds gold and silver at five times its current value, the derivatives of these five US Banks will increase exponentially by (5X) five and will finally bankrupt this corrupt conglomerate that has been controlling the World through debt.

We will probably witness a bank holiday that will last about one week to ten days in October and then the announcement of the RV / GCR.

Things will get a little tight for us all during this banking holiday.  There may be some looting and other craziness so be prepared for the worst.

The Bank of New York is currently the only BRICS Alliance Bank in the USA and I am thinking that the BRICS Alliance will take over one or more of the five major US banks; fire the ranking personnel and install new software before announcing the RV / GCR and foreign currency exchanges.

Source

(P.S.  Some think that China controls/owns a big part of Wells Fargo Bank with, by far, the ‘Least’ amount of Derivatives)

Oklahoma Moves Towards the Gold Standard

More changes in-line with restoring the United States to Constitutional Law, and ridding ourselves of fiat money. -LW

There is strong opposition to any proposal to end the Federal Reserve and move away from its paper dollar. The Fed has many ideological and, of course, crony supporters. So it’s interesting that there was little controversy in Oklahoma around removing one of the obstacles to the use of gold as money. Republican Mary Fallin, the governor of the Sooner State, signed into law legislation that recognizes gold and silver as money. There was bipartisan support, particularly in the state Senate.

Oklahoma doesn’t force anyone to accept gold or silver in payment. It simply exempts them from state sales tax. While sales tax on the metals was probably a minimal source of revenue for the government, it was certainly a major competitive disadvantage to bullion dealers. Price sensitive buyers simply shopped out of state.

Utah has a similar law, which also exempts the monetary metals from capital gains taxes, and Arizona has been trying to pass one. Capital gains tax on the metals is a roadblock preventing their circulation. Although the Oklahoma law is more modest, exempting only sales tax, it’s an important step towards the gold standard.

For a hundred years, nearly every law and decree pertaining to gold was bad. The Federal Reserve was created in 1913. President Roosevelt is infamous for confiscating the gold belonging to the people in 1933. President Nixon is reviled for defaulting on the government’s international gold obligations.

It’s encouraging that Oklahoma is joining the trend to right these wrongs. Their new law is no mere tinkering with the sales tax. It’s about gold and silver as money, and the text of the bill states this clearly. Other states are working on gold bills, including Kansas, Texas, and South Carolina.

The gold standard movement is profoundly important. It’s becoming obvious that the dollar system is unsustainable. Debt is rising out of control, and the benefit of additional borrowing has diminishing returns. For example, companies like Cisco and Autozone are borrowing to buy their own shares, but are not investing in growth. Cisco recently announced another big layoff. Millions of job seekers are left out in the cold, and savers are euthanized.

How are people supposed to feel when they’re marginalized? What are they supposed to think about the endless news stories of our so-called recovery? How should they respond to the rising stock market and booming luxury sales?

They resent it.

We are at a crossroads. The road we’ve been taking for decades seems easier, but it’s paved with debt. This way descends to a bad place of central planning and wealth redistribution. Eating the rich, as Thomas Piketty proposes, helps no one and impoverishes everyone. If there’s any doubt, visit with the latest victims of socialism. Not long ago, the people of Venezuela were middle class. Now they are struggling with desperate shortages of basic consumer goods.

The other path is paved with gold. This way leads to a rediscovery of the founding principle of America. We began with absolute respect for individual rights, including property. The gold standard is just the right of property in the area of money. Everyone has a right to choose what to buy, and what money to use to buy it.

For thousands of years people have chosen gold, when they had that right. People will choose it again if we let them. Oklahoma is leading the charge of this growing American—indeed, worldwide—movement. Their new law is a step in the right direction. Congratulations to my friends in Oklahoma. I hope those who live in other states, and all over the world, will also rejoice in this victory.

Source.

Changes in Spot Price for Precious Metals

SPOT PRICES

Today marked the last day of using a 117-year old system for fixing the price of silver. Rather than let it free-float, the legalized corruption will likely continue under a new name. Tomorrow is supposed to be the first day of using the new CME/Thomson Reuters system, but nobody has said they’re using it.

Links
Charts
The Beginning of the End
The (New) London Silver Price

London gold fix lawsuits to be consolidated in New York | Reuters

(Adds background on the lawsuits)

By Andrew Longstreth

Aug 13 (Reuters) – A federal judicial panel on Wednesday ordered that 18 lawsuits alleging a conspiracy to manipulate gold prices be consolidated into one proceeding in New York.

The cases will be sent to U.S. District Judge Valerie Caproni in Manhattan, who has already been overseeing more than two dozen cases.

The lawsuits name the multinational banks that make up the London Gold Market Fixing Ltd, the company operating the global gold price benchmark known as the ‘fix’.

The century-old gold fix is a standard price for the metal that the banks set twice a day over the telephone. A variety of gold traders claim they were harmed by a scheme to manipulate the fix.

Sending the cases to Caproni of New York appeared to be a relatively easy decision for the U.S. Judicial Panel on Multidistrict Litigation, which considers requests to consolidate related lawsuits in U.S. federal courts.

Only one of the 18 lawsuits was not filed in New York, according to the panel.

Bank of Nova Scotia, HSBC, Societe Generale and Barclays make up the London Gold Market Fixing Ltd.

Deutsche Bank withdrew in May after two decades but is still a party to the suits. (Reporting by Andrew Longstreth; Editing by James Dalgleish and Nick Zieminski)

via Source.

The (New) London Silver Price

[Editor's Note: Today marks the end of 117 years of silver price-fixing by HSBC, Bank of Novia Scotia, and Deutchebank. They have been replaced by CME Group software and Thomas Reuters people. Only time will tell the impact this will have on the price of silver. --LW]

CME Group will provide the electronic auction platform on which the price will be calculated and Thomson Reuters will be responsible for administration and governance. The LBMA will accredit price participants and own the intellectual property rights.

<snip>

Background

The London Silver Fix has been a global benchmark for 117 years. This new process for establishing the new London Silver Price will maintain continuity with the existing silver fixing process for market participants while also increasing transparency and the number of market participants via an electronic platform for the auction. It will continue to be London-based and will offer a fully IOSCO-compliant solution to the London bullion marketplace. Our intention is to follow the current benchmarking process in order to minimize any possible disruptions and enable a seamless transition for the market. Those participants with a Reuters terminal can view the live auction by quoting the RIC 0#LDNXAG.

<snip>

On what basis is The London Silver Price set?

It is an electronic auction based solution which is based on transactions and is auditable. The London Silver Price will be set by auction rounds with each round lasting 30 seconds. The auction will begin at 12:00 and participants will input their buy volume and sell volume orders in lakhs (100,000 ounces) or quarter lakhs (25,000 ounces). The initial price at the start of the process is likely to be close to the spot price. In the first round the system algorithm will attempt to match buy and sell orders within the permitted tolerance level (3 lakhs). If the buy and sell orders are out of tolerance, the auction price will change and the auction will restart until the buy and sell volumes are in tolerance and the equilibrium price is set.

Full Article.

The Beginning Of The End Of Precious Metals Manipulation: The London Silver Fix Is Officially Dead | Zero Hedge

Following a crackdown on precious metal manipulation by various European regulators (mostly Germany’s BaFin, recall “Precious Metals Manipulation Worse Than Libor Scandal, German Regulator Says”), which led to the shocking outcome that Deutsche Bank would pull out of the London gold and silver fixing committees, the London Silver Market Fixing company ended up with a most curious outcome: it would have just two members: HSBC and Bank of Nova Scotia. And, as an even more shocking result, overnight the London Silver Fix announced that after August 14, 2014 it will no longer exist – the first of many victories for all those who have fought for fair and unmanipulated precious metal markets.

From the press release:

The London Silver Market Fixing Limited (the ‘Company’) announces that it will cease to administer the London Silver Fixing with effect from close of business on 14 August 2014. Until then, Deutsche Bank AG, HSBC Bank USA N.A. and The Bank of Nova Scotia will remain members of the Company and the Company will administer the London Silver Fixing and continue to liaise with the FCA and other stakeholders.

The period to 14 August 2014 will provide an opportunity for market-led adjustment with consultation between clients and market participants.

The London Bullion Market Association has expressed its willingness to assist with discussions among market participants with a view to exploring whether the market wishes to develop an alternative to the London Silver Fixing.

via The Beginning Of The End Of Precious Metals Manipulation: The London Silver Fix Is Officially Dead | Zero Hedge.

Are You Ready?

Did you follow the advice and diversify into non-government-controlled assets? Or are you still waiting for the day when governments will declare they are broke, and help themselves to your 401(k), IRA, or RRSP?

It happened in Cyprus, last April, and many governments have made allowances for similar “hair cuts” in their 2013/2014 budgets.

Game Theory And The Unfixable Fiscal Situation

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