Written by Jeff Nielson Monday, 02 December 2013 15:22
With virtually all “transparency” removed from our hopelessly corrupt bullion markets; it becomes increasingly difficult to glean any indications of what is transpiring from a Big Picture perspective. We know that a supply-deficit continues to exist, due to the rampant demand created by these fraudulent, give-away prices for gold and silver – but we don’t really know how large that deficit is.
We know that supply is declining, but we certainly can’t trust the numbers from either the World Gold Council or the Silver Institute as to the precise quantum. Indeed, in the case of the silver market; we’re told that supply magically equals demand every year – and thus any “supply deficit” at all is impossible in this mystical realm.
Of course more sophisticated readers know that these industry “fronts” are nothing more than puppet-enclaves of the banking cabal, yet more tentacles of the One Bank. The World Gold Council, in particular, is blatantly slavish in its servitude of the bankers, from publishing banker “policy papers” on what they should be allowed to do with the peoples’ gold (if it still exists), to prostituting itself for the bankers in India, where they tried to dupe Indian gold-buyers into buying the One Bank’s fraudulent paper-called-gold products.
We know that bullion inventories are declining, but we have no concrete data at all on what amount of stockpiles are available to replenish inventories, when they go to zero. Is it enough to satisfy demand for two more weeks, or two more years?
We do, however, have anecdotal evidence of the enormous efforts made by the One Bank to destroy gold-demand, and thus reduce the gold-deficit. This alone is proof that we are in the midst of a genuine “inventory crisis”, and the collapse of Comex gold inventories (in particular) is not merely another paper façade.
Here the targets of the One Bank have been in Asia, where buying “gold and silver” means only buying real, physical metal. Thus Asian bullion-demand cannot be diluted by doing what is done in the West: selling Chumps paper, but calling it “gold” or “silver”. Instead the bankers operate by pressuring governments into attacking their own, domestic markets.
The first target was Vietnam. Indeed, ever more extreme restrictions on gold imports into Vietnam going all the way back to 2008 have created an acute gold-shortage and price-decoupling in that nation. Vietnamese people pay the highest prices in the world for gold, assuming they don’t venture into the thriving blackmarket – an inevitable consequence of severe import restrictions on any good.
The One Bank’s next Asian target was India, traditionally the world’s largest gold market, and (until recently) by far the world’s largest importer of gold. Here the banksters’ efforts have been chronicled in several previous commentaries. When their less-drastic measures were totally ineffective; the One Bank opted for brute-force: a complete ban on all gold imports.
Skeptical readers may be asking themselves how a banking cabal – even one the size of the One Bank, which controls 40% of the global economy – can “pressure” governments into doing whatever it wants them to do. Those readers would clearly not have read my past commentaries on the “economic terrorism” from Wall Street which brought the governments of Europe to their knees (and destroyed the economy of Greece, entirely).
Primarily through the fraudulent manipulation of the credit-default swap market; the One Bank can literally manipulate interest rates on the debt of any nation to any number it desires. With all these Western governments already on the verge of default due to absurd/extreme accumulations of debt; this power amounts to an absolute economic choke-hold over those governments.
Written by Jeff Nielson Monday, 25 November 2013 11:15
Obtaining perspective with respect to the issue of “executive compensation” requires little effort. One simply compares historical norms with the outrageous excesses of the 21st century.
Go back a century ago; when our governments were solvent, our economies were prosperous, and everyone had jobs, and the pay ratio between senior management and the average worker ranged from roughly 3:1 to 10:1. Flash ahead to the 21st century; when our governments are bankrupt (from a massive revenue crisis), our economies are mired in permanent depressions, and structural unemployment is at all-time highs, and we now often see this ratio exceeding 1,000:1.
CEO’s (allowed to run amok) are awarding themselves compensation hundreds of times more than what they are earning. Let me quantify this more precisely for the mathematically-challenged majority. Being paid 1,000 times more than the median wage rather than 10 times more (the norm) equates to being paid 100 times more than one earns.
But understand that “100 times” doesn’t mean being overpaid by 100%. It equates to being overpaid by 10,000%. Put another way, the “compensation” being stolen by these corporate thieves would have to be reduced by more than 99% to lower it to what these executives actually earn.
Conveniently, Bloomberg has provided us with a corporate Hall of Shame, taken just from corporations listed on the U.S. S&P 500 Index, a (partial) list of the most overpaid CEO’s in an era of the most grossly excessive executive compensation in history:
JC Penny Co. 1,795:1 ($53.3 million)
Abercrombie & Fitch Co. 1,640:1 ($48.1 million)
Simon Property Group Inc. 1,594:1 ($137.2 million)
Oracle Corp. 1,287:1 ($96.2 million)
Starbucks Corp. 1,135:1 ($28.9 million)
Even if we take the high end of the historical norm (a 10:1 compensation ratio); every one of these corporate thieves would have to have their criminally-inflated “compensation” reduced by more than 99% to bring it down to what they actually earned. And understand that a crime is being committed here.
It’s called “misappropriation of funds” (i.e. embezzlement, i.e. theft). Taking more than 100 times more than one earns, and calling it “compensation” is no more legal than a CEO announcing he was using corporate funds to buy separate palaces for a harum of mistresses. The fact that corrupt/complicit boards of directors of these corporations allow this theft-in-broad-daylight to take place again and again and again does not make it legal – it only makes them accessories to these crimes.
Finally, the citizens of one nation are taking action. Put another way; the only nation which still has “citizens” is taking action: Switzerland. The people of that nation proposed limiting executive compensation to a hard cap of no more than 12 times the wage of the lowest paid worker (not the average pay). Thus this Swiss proposal would do nothing more than mandate compensation limits which are in line with historical norms, when our nations were solvent and prosperous.
It is ironic – but in no way surprising – that the workers/citizens standing up and saying “enough is enough” in Switzerland are already the highest paid workers in Europe. But even with the (relatively) high average wages in that nation; the corporate thieves of Swiss corporations would still see their own compensation reduced by 90% or more to bring it down to what they actually earned.