Tag Archives: Market Manipulation

An Historic “Hockey-Stick” Moment


The original trend (green line) is fairly flat.  Something happens around A.D. 1971 to cause the second trend line (blue) to accelerate upwards.  That change in trend “velocity” marks the “Hockey-Stick Moment” where something unexpected and powerful suddenly took place.  In this example, President Nixon severed gold’s relationship to the dollar.

GATA love it

According to the “About” page at Gold Anti-Trust Action committee’s website (,


The Gold Anti-Trust Action Committee [GATA] was organized in the fall of 1998 to expose, oppose, and litigate against collusion to control the price and supply of gold and related financial instruments. The committee arose from essays by Bill Murphy, a financial commentator on the Internet (, and by Chris Powell, a newspaper editor in Connecticut.


Imagine that! GATA—and all that flows from it—started from just couple of “essays”.

As you’ll read, maybe the pen really is mightier than the sword.

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They Pretend to Pay Us; We Pretend to Work

Central Planning = Communism "From each according to his bank balance; to each according to his political connections." [courtesy Google Images]

Central Planning = Communism
“From each according to his bank balance; to each according to his political connections.”
[courtesy Google Images]

During the Soviet Union’s final 15 or 20 years, there was a “joke” that was both cynical and popular among Communist workers:  “They pretend to pay us; we pretend to work.”

I believe the attitude expressed in that “joke” was a fundamental cause for the “evil empire’s” demise.  The government wasn’t really paying the people for their work.  The people weren’t really working for their “pay”. 

Everyone was lying.  The Communist government lied about paying people.  The people lied about working.

The resultant breakdown in the relationship between the government-employer and the worker-employees destroyed what was once the second most powerful nation the earth had ever seen.

There’s a lesson in the USSR’s demise about the need to really “pay” people for their work and stop all the lying.  

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A “real” economy vs. an “unreal”?

Market Manipulation by the Federal Reserve [courtesy Google Images]

Market Manipulation by the Federal Reserve
[courtesy Google Images]

Richard Fisher was the president and CEO of the Federal Reserve Bank of Dallas from A.D. 2005 to A.D. 2015 . He’s now a director of PepsiCo and ATT, a senior advisor to Barclays, and a CNBC contributor. The man is accomplished and “connected”.  We he talks, we’d do well to listen closely.

In reaction to the dramatic stock market sell-off during the first week of A.D. 2016, Mr. Fisher “talked” in a recent article entitled “Don’t blame China for the sell-off”:


•  Fisher:


“Recent volatility and downside slippage in the equity markets has been ascribed to China and the potential for slowing global economic growth. To be sure, these are factors worth watching but they are hardly newsworthy.

“While I would not completely pooh-pooh the effect of developments in China on the rest of the global economy, I believe another factor is of greater importance in pricing the U.S. stock market going forward: the effect of accommodative Federal Reserve policy.”


Mr. Fisher is telling us that, contrary to popular opinion, the recent US stock market fall was not triggered by China’s economic problems—it was caused by Federal Reserve policies.

Few would be surprised by Mr. Fisher’s statement.  We all pretty much suspect that the Fed is responsible for the current economic problems.  Still, given that a former president of the Dallas Federal Reserve Bank is making these admissions, they are amazing.

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Paul Craig Roberts: “US Government Most Corrupt on Earth”

Greg Hunter ( interviews former assistant secretary of the Treasury, Paul Craig Roberts.

This is a spectacular interview.  To me, Roberts seems to be taking his revelations to a new level.  His interview is such an insightful and compelling indictment of the US government,  that it might be good enough to get Roberts killed.

video   00:38:54



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Federal Reserve to Restrict Wall Street Commodity Trading?

Wall Street Bankers [courtesy Google Images]

Wall Street Bankers
[courtesy Google Images]

Reuters recently published an article entitled “Worried Fed seeks to curb Wall Street banks commodity trade”.  The article didn’t attract much mainstream attention, but its implications strike me as big news.

According to Reuters,

“The US Federal Reserve on Tuesday took a first formal step toward restricting the role of Wall Street banks in trading physical commodities, citing fears that a multibillion-dollar disaster could bring down a bank and imperil the stability of the financial system.”


Given the Fed’s need to maintain public confidence in the markets, the economy and the fiat dollar, it seems improbable that the Fed would publicly warn of a potential “multibillion-dollar disaster” unless the probability of such imminent disaster were too high to ignore or conceal.

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Wagging the Dog

Janet Yellon--a Woman for All Seasons? [courtesy Bing Images]

Janet Yellon–a Woman for All Seasons?
[courtesy Bing Images]

English journalist Ambrose Evans Pritchard recently wrote an article for the Telegraph entitled “Rejoice: the Yellen Fed will print money forever to create jobs”.  That article discussed the appointment of 67-year old Janet Yellen as the next Chairman of the Federal Reserve and the economic consequences that were likely to follow.

According to Evans Pritchard, under Yellen’s rule,


“The FOMC [Federal Open Market Committee] will continue to print money until the US economy creates enough jobs to reignite wage pressures and inflation, regardless of asset bubbles, or collateral damage along the way.”

Note the relationship between the currency supply and more jobs.  It is presumed that by increasing the supply of currency (printing more fait/paper dollars), the Fed can “create enough jobs” to cause an economic recovery.  But is that presumption true or false?

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Fear the Boom, Not the Bust?

BusinessCycle1Frank Hollenbeck, PhD, teaches at the International University of Geneva.  He recently wrote an article entitled “Fear the Boom, Not the Bust” for Mises Daily.

In that article, Mr. Hollenbeck described the modern “boom-and-bust” business cycle.  Most people celebrate the “boom” when the economy is running hot and everyone seems to prosper.  Most people fear the “bust” (recession or depression) when we’re almost all suffering from diminished incomes.

However, Dr. Hollenbeck argues that the irrational excesses of the booms cause the painful corrections in the busts.  Thus, because the booms cause the busts, we should be more afraid of the booms and less afraid of the busts.

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