I found it by using Comex as a search term. I bolded the parts about Comex. I included the post before and after the post about the Comex to add context.
vigilant wrote:
OLD MCDONALD HAD A FARM, EEII EEII OHHHHH
nathan28 I know that you personally don't need a response of this magnitude because you understand the game. But considering that its been a while since I have written anything financially related I decided to do an in depth explanation in answer to your question for forum readers that need and appreciate the 'finance for dummies' or 'cliff note' version. What I wrote is not complicated by financial jargon. Its written in alley language that we can all understand.
Very salient points, and what is happening at GM is looting. GM isn't going bankrupt, its being taken over by the biggest players on the block, and you know they will get paid no matter what they have to take from whomever. These people are big enough in the game, and control enough of the game, that they can direct these bailout funds to a "first in first out" status.
Regardless of what "should be", as you astutely know, these (sic) bailout investments can be tiered in any way the big players see fit, much like preferred and common stock. Preferred stock gets honored first, and the pension holders with common stock will get screwed if there isn't enough money left in the game. These people have no intention of putting themselves in a position to lose a single dime because they simply don't have to.
Looting was the intention from the beginning, and looting they have been doing from the first note of the first dance. They fully intend to load their books with every industry and business they want, such as GM, and have the bill paid by our future labor, us taxpayers.
The problem that could still arise for some of the players is the possibility that the biggest players are not through screwing the smaller players, the bag holders, the chumps, the Bernie Madoff's in the game. Every time a Bernie gets chumped, it directly extrapolates itself into the common man's pocket too through pension funds, stock holdings, municipal bonds that institutions were holding, etc...whatever...But it isn't the common man that is my focus of these thoughts in this writing.
A lot of people got burned when they pimped Bernie Madoff, because Bernie had pimped a lot of people out of their money under false pretenses. I haven't checked it diligently, but it appears that most of the people that got pimped by Bernie were still smaller players that were bilking the public through the ownership of charities, and other dubious enterprises.
Some were simply regular citizens with enough money to give Bernie, but it seems that the bulk may have been people that are not in a position to complain too loudly, like the people that were skimming charities. Its sort of like stealing money from a drug dealer, knowing that he can't complain too loudly, because if he does, the people that looted him will bust him and put him in jail.
Bernie was considered a 'new rich pest' that had no blue blood. Search Bloomburg Financial's site for an article that includes both Madoff and Rothschild. Read the touted esteemed write up of Rothschild's glowing 250 year history, as they compare it to Bernie's piker short term little piggy ass. The jest of the article is, over and over, "Bernie is a new rich slug with no bloodline, and Rothschild is an esteemed family of hundreds of years history that funded the Battle of Waterloo, etc..." Gives you a perspective of how this game is played.
Bernie was the guy at the parties, that had enough money to get in the door, but that nobody wanted to stand around and talk to because he was irritating. He had the right clothes and shoes, but you could just tell that he had tried too hard. Too trendy, and didn't have that old blood dignity, so to speak. He spent too much time hamming it up talking about "how we wealthy people do things"...blah...blah...blah...He tried too hard to fit in and equate himself with the true blue blood wealth instead of being quiet and humble, and in subtle manner letting the blue bloods know that he was inferior to them, and thanking them for letting him participate. He was the guy at the party that the truly wealthy blue bloods would say about, "i'll be damn glad when the bag he's holding hits the floor so we can get rid of his irritating ass because he is on my last nerve"...
As far as the shaky feelings for bond holders goes, the reason I alluded to that is because the yield curve has been close to having its back broken. The bond market was choking on that last load of bonds they were unloading. We have seen the biggest gap in the bond market in history. Too much too quick. This heist is unprecedented in all of history and some of the smaller "investors" also known as looters, in the chain are scared, and rightly so. This is a once in a hundred year reloading, and when that happens, anybody's fan can get hit with shit if they are not the biggest shark in the tank.
I use the word "smaller" as if 100 billion isn't a lot of money but we know it is. Maybe 'control" would be a better word. Smaller players have no control, and if they get chumped its OVER FOR THEIR ASS IN A BIG WAY. Not only are they broke, but since they were so easily disregarded and used up, they have to fear getting busted and end up in jail too. If the control guys are willing to bankrupt them, obviously they are only unrespected griss for the mill, and have no certainty that they won't end up in the worst possible position, if the game also needs a fall guy.
They realize that this situation has been pushed to its limit. Essentially, its all about selling the future labor and productivity of 'us' the taxpayer to whomever will buy the debt. These bankers only own and control the world by loaning a "promise that the mules in the field will produce", and generate a certain Gross Domestic Product. In the U.S. the bankers have approximately 300 million mules in the field. These mules, according to average statistics, will each generate X amount of dollars in X amount of time. Were they standing around talking, the conversation would be such as...literally too. We're "plowshares", and the incentive we receive, whether we know from whence the pain comes or not, is called the "sword"...
"What have you been up to lately?"
"not much, just driving swords into plow shares, you know how it is"
"which section of the herd are you going to buy next?"
"not sure yet, but I have some cowpokes checking the stock"
Owning debt is the most coveted place in the financial hierarchy. The more you own, the more interest on the debt that comes your way. Even more valuable, are the taxes that will be collected through the labor this debt represents. Taxes equal labor credits, energy, force, work, in practically endless supply. For the biggest players, its free money, because they are not loaning anything at all of value that they own, other than our labor. They can sell this future labor to buyers for a lump sum right now. These buyers are mostly buying this future labor with "nothing" too, because the Chinese Government is printing money too, its only paper. It literally is a 'slave trade' and nothing more.
We enter into it voluntarily because we need food, so we need those bank note dollars. It is legal to pay workers with "money" but a man just got arrested for doing so. Legally these bank notes we carry around are not money. Gold and silver coin are indeed money, and the man that got busted paid his workers in gold coin, real money. He paid them at the rate of the face value of the coin, which is of course worth a lot more than face value, and according to the constitution that is legal money.
The grocery business, like the car and housing industries, is being bought by the same people. Large independent farmers were paid not to grow food. Remember Willie Nelson and farm aid? Now it is down to the small yard plot gardener growing a few veggies in his back yard. They just passed laws to regulate that too, because of course, you're too dumb to grow food and might hurt yourself with it, so it needs to be inspected. If you transport it, even a basket of tomatoes that you are taking to your Aunt, it is subject to reporting, tracking, and inspection. Slowly, the requirements to even grow a tomato plant will become so stringent, and the seed cost so high, they plan to drive the backyard gardener out of business too. You won't be able to save seeds from last years plants because seeds are being rendered "ungerminable" before shipment. So...seeds will become scarce.
A lot of our asses are now working for the Chinese, Russians, French, or whoever will fork over something of value to get their hands on our future labor. Instead of being put on a ship and taken overseas like the old days, electronic transactions and transfers of items of real value are used due to the fact that we now have cargo planes to collect the ransom for our labor quickly. Slave traders get to keep the slaves, sell their labor, while also making them buy their goods from the company store, which increases the value of a slave to its owner. Anything the slave can be enticed or forced to buy or borrow is extra revenue. The old days of having to buy from the "Company Store" are just around the corner...again.
Some of these guys have gotten so big, that the U.S. is only one pasture in a much bigger farm. This makes the game much more dangerous if you have no control because it makes it much harder to understand how much debt has been sold from the farm. Pastures are countries, and there are farms with several pastures tended by the same farmer (banker, or small group of bankers) Rothschild's wife didn't allude to him as a "gentlemen farmer" for nothing ya know. Farmer of men...Old McDonald had a farm, eeii eeii ohhhh. Means more than ya think. Fe Fi Fo Fum, I smell the blood of an Englishman...means more than ya think.
These deals are structured in all kinds of crazy ways, and the words "bond market" covers it for the most part, and aside from, and in addition to that, the sorts of deals they swing that we never know about are as many and as creative as they can think up. They might take a goldmine in trade for our asses. Just like all those CDO's that stand as an untraceable front for the hidden companies behind them that are buying the GM's, and etc...We never know. This future labor is being sold off, and the bulk of it is being kept by our owners for themselves, because it is their lifeblood, and without it, the whole house of cards falls tomorrow. They are forcing us to borrow money, and also forcing us to work our asses off to pay the interest on what we borrow, and forcing us to pay taxes on the worthless paper they run through our hands.
This paper, to these bankers, only represents one thing, and that is a "labor credit". If they can get us to work for these pieces of paper, and then force us to give a lot of it back to them, they can in turn give it back to us, and have us do whatever they want us to do for them. We have to have it, for one reason, and that is because that is what the bankers demand that we pay taxes with. Since it is what we have to pay taxes with, we must scramble around and get us some of it. That is what makes it valuable as a trading unit between us, the common folk, too. If we didn't need it for taxes, we would barter and trade amongst ourselves, because we wouldn't need their little pieces of paper. We might use a lot of it, but we wouldn't have to have it.
Each dollar represents a certain amount of labor from a school teacher, plumber, engineer, etc...THE TRUE BEAUTY IS, THAT THEY CAN STORE THESE LABOR CREDITS, INDEFINITELY, AND THEY CAN BE CONVERTED INTO ANYTHING THESE BANKERS LITTLE HEARTS DESIRE. ]
A plumber pays taxes, but right now they don't need plumbing done. No problem. They store his labor in a jar or a piggy bank. In a couple of days they need a soldier to go kill some folks that wear turbons. No problem, they take the plumbers labor, simply convert it into a soldier, by giving the soldier the plumbers labor, in the form of his tax money. A teacher's labor can be magically converted into an airplane, or the services of an engineer. These labor credits don't spoil, and like true magic, they become whatever these people desire. Now thats magic...
If they shove too many trillions in taxpayer debt down our throats, more than we can work off in a reasonable amount of time, the people that fork over something of value to buy it, and expect a return, will get screwed because too much debt was sold, and there are not enough of our little mulie asses to work it off. These people that get screwed could be anybody from hedgefunds run by rich kids that inherited a trust fund, to some foreign government, but it damn well won't be the international bankers that own us and run this side of the show.
Anything that gets left holding the bag, if it squeaks and causes trouble, will be eaten. Plain and simple....
Question is, truly, how much debt have they sold? How much do they plan to keep for themselves? Are they selling way too much, with full intention of eating some squeakers, because they know they can screw them out of some valuables in the process?
Probably...Folks that have enough money to play this game could end up with that little Troll Doll you win at the carnival, with long blue wooly hair in trade for their valuables. Some already have...
I'm not sure if that is what these rumors of a run on the Comex Gold Exchange are about or not. Of course Comex doesn't have the bullion to back the worthless paper receipts they have written. They have sold tons upon tons of gold that does not exist, also known as "paper gold". John Brown buys gold from Comex, but of course most of the time John Brown does not take physical delivery of the gold. Like a stock purchase, he accepts a piece of paper that says, "John Brown own 1 million in gold".
This is the oldest game in town, and is how fractional reserve banking was initially born. Just like the fictional money we think we have in the bank, that is not there, neither is the gold in the Comex Gold Exchange. Like a bank seldom if ever suffers a rush of people wanting their money all at once, call a "run", neither does the Comex suffer a "run" from people all suddenly showing up demanding their gold.
The biggest players are not stupid, and they don't buy paper gold. If they buy gold, they have it delivered to the doorstep COD. The rest of the people that buy gold, almost never take physical delivery of it. The people that do are usually the incredibly small buyers that think its nifty to have two gold coins under the bed, or the smart people. Most people are not smart enough to demand physical delivery.
Comex has a lots of folks goodies held at ransom though...
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Posted: Wed Mar 31, 2010 2:59 am