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London Metals-Fraud Revealed

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Approximately a month ago, the Corporate Media began leaking bits-and-pieces of information about “warehouse problems” involving the London metals-cabal: comprised of the LME (London Metal Exchange) and the LBMA (London Bullion Market Association). Being a close follower of this propaganda machine, I was well aware that such leaking was always the first step by these media Drones to explain/cover-up yet more financial crime being perpetrated by the One Bank.

In hearing of these massive, preposterous delays to “ship” metal which had already been purchased, my assumption was that the real story here must involve precious metals. Gold and silver are the only metals markets where supplies are tight, thus the rational conclusion was that these were the metals at the root of these “shipping delays”, and I wrote a commentary based on that hypothesis.

I considered another possibility: that these “delays” had nothing to do with inventories (or metals supplies) at all, but rather was simply some crude “shake-down” operation being perpetrated against metals buyers (in general). I rejected that possibility because it represented such blatant gangster racketeering that I assumed that even the One Bank would not attempt to perpetrate such brazen crime.

However, as noted with a crude colloquialism, there are obvious, intellectual perils when one “assumes”. In hindsight (as further information has emerged) it is clear that my original assumptions were incorrect. This is clearly a problem with shipping base metals – not precious metals. And it is clearly gangster racketeering, at its worst.

The liars in the Corporate Media originally told us merely that the delays “could exceed 100 days”,  and that such delays were restricted to a few, isolated examples. However, with it being impossible to cover-up crime of this magnitude, further facts have come out, and the Truth has begun to emerge.

In fact, some metals-buyers are experiencing “delays” in receiving the metals they purchased of well over one year, and some large buyers are simply refusing to deal with the more notorious Crime Warehouses:

Before Goldman [Sachs] bought Metro International three years ago, warehouse customers used to wait an average of six weeks for their purchases to be located, retrieved by forklift and delivered to factories. But now that Goldman owns the company, the wait has grown more than 20-fold – to more than 16 months, according to industry records.

Longer waits might be written off as an aggravation, but they also make aluminum more expensive nearly everywhere in the country because of the arcane formula used to determine the cost of the metal on the spot market. The delays are so acute that Coca-Cola and many other manufactures avoid buying aluminum stored here. Nonetheless, they still pay the higher price. [emphasis mine]

And lest any Skeptics attempt to write this off as just the inefficiency of “bankers” trying to be warehouse operators; the facts make the criminal intent of this fraud unequivocal:

The story of how this works begins in 27 industrial warehouses in the Detroit area where Goldman stores customers aluminum. Each day, a fleet of trucks shuffles 1,500-pound bars of the metal among warehouses. Two or three times a day, sometimes more, the drivers make the same circuits.

The industrial dance has been choreographed by Goldman to exploit the pricing regulations set up by an overseas commodities exchange [i.e. the London metals-cabal], an investigation by The New York Times has found. The back-and-forth lengthens the storage time. And that adds millions a year to the coffers of Goldman, which owns the warehouses and charges rent to store the metal. It also increases prices paid by manufacturers and consumers across the country.

Tyler Clay, a forklift driver who worked at the Goldman warehouses until early this year, called the process “a merry-go-round of metal.” [emphasis mine]

In other words, this crime is yet another form of financial blood-sucking being perpetrated by the One Bank, and is not unlike the blood-sucking described in my previous commentary about this monstrous monopoly. However, as any gangster (or bankster) can tell you, “the real money” in a racket of this nature is in extortion, so we could very well see further layers of this crime revealed as more facts emerge.

 

The method of extortion is so excruciatingly simple that it is difficult to believe that it has not at least been attempted by these Banksters. When frustrated buyers complain about the preposterous delays to “ship” their metal, the warehouse operator simply whispers into their ears that Rush Shipping is available “for a price.”

And if such blackmail should (hypothetically) be attempted, but the Victim refuses to pay the “ransom” to receive its metal? Then it waits 16 months to get what it paid for instead of 6 weeks, and the next time that Rush Shipping is (quietly) proposed, the Victim decides that it is “an offer they cannot refuse.”

Sadly, irrespective of whether this is merely a “merry-go-round of metal” which operates as a(nother) hidden tax on all of us, or whether this crime involves full-fledged extortion (as well); we already know that Goldman Sachs (and the One Bank) will never be held responsible for this organized crime – merely some of their low-level Stooges.

The Attorney General of the United States (Protector of the One Bank) has already made this clear in public testimony:

I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if we do prosecute – if we do bring a criminal charge – it will have a negative impact on the national economy, perhaps even the world economy.

That comment was in response to a question (by a U.S. Senator) as to why when UBS had been caught engaging in blatant, massive fraud in the U.S., that only some of its low-level minions been charged – with the bank itself getting a free pass. The message is clear: the Big Banks (tendrils of the One Bank) will never, ever be charged with a crime – let alone actually prosecuted.

The rationale behind the refusal of the Attorney General of the United States to uphold the law (and perform his own, sworn duty) is totally specious, and can be revealed as such with one simple question – one which U.S. sycophant politicians refuse to ask.

What would instill more “confidence” in the U.S. banking system: knowing that it is operated by a Crime Syndicate which is totally above the law, or knowing that there is integrity in the U.S. financial system, because criminals are prosecuted?

When the collusion of the One Bank with its LIBOR fraud was revealed, we saw that literally “no crime was too large” for this Crime Syndicate to attempt. Now, with this sleazy warehouse scamming; we see that no crime is too brazen for this Crime Syndicate to perpetrate.

The Rule of Law is dead in the U.S. Should we be surprised that the city in which Goldman Sachs operates its warehouse scam has just declared bankruptcy?

As global power (and wealth) continues its inexorable march from West to East; the (bankrupt) United States of America, “world’s only Superpower”, will be isolated and left behind – as some rotting, Third World, Gangster Regime. All courtesy of the One Bank.

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Jeff Nielson
...
written by Jeff Nielson, July 31, 2013
The rule of law is dead in the USA and Europe for the corrupted Banksters, Bureaucrat, and Politicians. Meanwhile they are building more prisons and Fema Camps for the main street Americans. Ex President Carter recently stated in Europe 'we no longer have a functioning democracy in America'. I did an internet search several days ago and could find no hits for the likes of CNN, Fox, ABC, CBS, etc. covering Carter's obvious declaration of the obvious.
Government dictatorial control of the new media is alive and well. Wolf Blitzer and Bill O'Reilly or nothing more than government lackey's.
The rot you described is well on its way!


Yes Paxjds, I noted Carter's blunt remarks as well. No surprise at all that the ONE honest/decent U.S. president in the last generation is the one "remembered" least favorably by the propaganda machine.

We have/had a comparable Canadian politician: Joe Clark. Naturally he was knifed-in-the-back as well, by both his fellow Conservatives and the Canadian Corporate Media.
paxjds1
...
written by paxjds1, July 30, 2013
Jeff,
The rule of law is dead in the USA and Europe for the corrupted Banksters, Bureaucrat, and Politicians. Meanwhile they are building more prisons and Fema Camps for the main street Americans. Ex President Carter recently stated in Europe 'we no longer have a functioning democracy in America'. I did an internet search several days ago and could find no hits for the likes of CNN, Fox, ABC, CBS, etc. covering Carter's obvious declaration of the obvious.
Government dictatorial control of the new media is alive and well. Wolf Blitzer and Bill O'Reilly or nothing more than government lackey's.
The rot you described is well on its way!

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