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Rule of law or rule of Banks?

The gold investor should always seek opinion from a broad spectrum of sources in order to get the whole 360° picture of current markets, tendencies, geopolitical influences, economic news and sales.
To this end we offer a compilation of pertinent information for you to peruse and digest at your leisure.

Here at Goldcoin.org we take a dim view of the perpetual impunity afforded to private companies that feel they are so big they are above the law which is the case for so many of the banking giants. Here are some tasters to articles revealing just how the US Attorney General has admitted that it is too difficult to prosecute large groups that could have a direct and detrimental effect on National and even International economies.
Needless to say the usual suspects are amongst the perpetrators/

Banks above the law

“At the same Wednesday judiciary committee meeting where Attorney General Eric Holder hemmed and hawed before acknowledging that the president cannot authorize a drone strike on American soil, against an American terrorist suspect posing no imminent threat, he explained why the Justice Department has failed to bring criminal charges against a single Wall Street bank. Mr. Holder suggested, as a Financial Times headline put it this morning, that some banks are “too big to jail.”Here’s what happened. Senator Chuck Grassley, a Republican, asked for more information on why federal and state authorities chose not to indict HSBC after it acknowledged laundering money for Mexican drug cartels, helping rogue states avoid international sanctions and working closely with Saudi Arabian banks linked to terrorist organizations.
Mr. Holder said: “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 you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy.”
It’s nice and all that Mr. Holder cares about the stability of the global financial system, but that is not Mr. Holder’s job. As attorney general he is the country’s top law enforcement officer, and in that capacity he should prosecute criminals and criminal institutions.”

How Many Billions Of Drug-Laundered Money Does It Take To Shut Down A Bank?

Here is the transcript from testimony regarding the Banks secrecy Act involving the US Treasury, Department of Justice and Financial Industry.
Merely confirms the worst – the banks have impunity………. and can continue to mis-sell products, ignore international sanctions, deal with rogue states and drug cartels …. because making money has no conscience, no boundaries, no morals, no ethics, no remorse ….. and therefore has no place in a world where us mere humans actually matter.

“Now in December, HSBC admitted to money laundering. To laundering $881 million that we know of for Mexican and Colombian drug cartels. And also admitted to violating our sanctions for Iran, Libya, Cuba, Burma, the Sudan. And they didn’t do it just one time. It wasn’t like a mistake. They did it over and over and over again across a period of years. And they were caught doing it. Warned not to do it. And kept right on doing it. And evidently making profits doing it.

Now HSBC paid a fine, but no one individual went to trial. No individual was banned from banking. And there was no hearing to consider shutting down HSBC’s activities here in the United States. So what I’d like is, you’re the experts on money laundering. I’d like your opinion. What does it take? How many billions of dollars do you have to launder for drug lords and how many economic sanctions do you have to violate before someone will consider shutting down a financial institution like this?”

Goldman Sachs and Morgan Stanley Near Bottom of Stress Tests

Interesting that 2 of the most powerful banks on the planet are dangerously low to the bottom limits required to pass the tests. Chances are that even these tests are skewed and really exist to pay lip service to the demands of politicians. In reality, both Banks would be in danger during another crisis. Their skullduggery innovations department must be on overtime working on their next get-rich quick scheme to reward themselves by robbing the “sheep” consumers who never seem to learn. They were of course big actors in the Facebook saga that saw someone make over $4 Billion in a few days due to the manipulated launch price.

Gold bar sales in China jump twofold during Spring Festival

Sunshine, Valentine and a Lunar New Year have helped boost sales of gold in China this year. Figures released by the Ministry of Commerce have shown a doubling in sales of gold bars.
We have long supported a theory that lots of individual investors buying gold is less suspicious than a huge purchase made by the central bank but at a point in the future if all gold was deposited in National banks it could prove the backing for the Yuan – directly valued against gold by a new gold standard – that allows it to pose as a reserve currency with meaning and true value.

Leonard Melman: Are You Prepared for Hyperinflation?

During an interview with the Gold Report with 24H Gold, Leonard discusses his analyses of the precious metals outlook for 2013 which includes references to the many areas of growing concerns regarding currency debasement and inflationary pressures often and previously discussed here. His conclusions like our own is that gold is not bursting its bubble but readying itself as the perfect store of value when the effects of a deepening crisis set in further during 2013.

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"For a mountaineer, the important things are the effort, the posture and the muscles. The rope that holds him serves no purpose when everything works but it gives him a sense of security. In the same way, all gold does is ensure confidence; it's a safe haven."