Thursday, 18 August 2011

Hugo Chavez Nationalizes Venezuelan Gold Industry, Demands 211 Tons Be Returned From Abroad - JPMorgan, Bank Of England & ETFs Scramble For Physical Metal

'We just reported that Hugo Chavez has nationalized the entire Venezuelan gold industry this afternoon. Well, Hugo didn't stop there, as latest headlines flashing indicate that Chavez has requested that the Bank of England return 99 Tons of Venezuelan gold held on deposit, and a total of 211 Tons of gold held abroad (WSJ).

For those with any knowledge of the cartel, you know where this is heading.'

Read more: Hugo Chavez Nationalizes Venezuelan Gold Industry, Demands 211 Tons Be Returned From Abroad - JPMorgan, Bank Of England & ETFs Scramble For Physical Metal

Revolution Spreads To Germany: Cars Of Hundreds Of 'Fat Cats' Burned

'Following the recent riots in the UK, it seemed there was only one safe bastion from the marauding bands of indignants, labor unions, and general hooligans: Germany. That is, alas, no more. During the past two days, German protests against globalization, read Germany’s undertaking to trade export strength for a joint European currency and a bailed out Club Ded periphery, have begun manifesting themselves albeit with a twist.

As Bloomberg reports, in the past two days, arsonists have set fire to 26 cars in Berlin, mainly Mercedes, BMW, and Audis, which brings the total number of torched cars to 138, more than double all of 2010. “The arsonists want to hit what they say are ‘Fat Cats,’” Berlin police spokesman Michael Gassen said. A special unit is investigating the fires as political crimes after the police received letters claiming responsibility that derided globalization, gentrification and rising rents, he said.”

It appears that while the Arab Spring was started by the self-immolation of a fruit seller protesting more or less the same things, that level of self-sacrifice is strangely missing in Europe’s (and maybe the world’s) most prosperous, and entitled, nation.'

Read more: Revolution Spreads To Germany: Cars Of Hundreds Of 'Fat Cats' Burned

SEC Whistleblower: Feds Destroyed Evidence Of Thousands Of Wall Streets’ Worst Crimes

'Imagine a world in which a man who is repeatedly investigated for a string of serious crimes, but never prosecuted, has his slate wiped clean every time the cops fail to make a case. No more Lifetime channel specials where the murderer is unveiled after police stumble upon past intrigues in some old file – “Hey, chief, didja know this guy had two wives die falling down the stairs?” No more burglary sprees cracked when some sharp cop sees the same name pop up in one too many witness statements. This is a different world, one far friendlier to lawbreakers, where even the suspicion of wrongdoing gets wiped from the record.

That, it now appears, is exactly how the Securities and Exchange Commission has been treating the Wall Street criminals who cratered the global economy a few years back. For the past two decades, according to a whistle-blower at the SEC who recently came forward to Congress, the agency has been systematically destroying records of its preliminary investigations once they are closed.

By whitewashing the files of some of the nation’s worst financial criminals, the SEC has kept an entire generation of federal investigators in the dark about past inquiries into insider trading, fraud and market manipulation against companies like Goldman Sachs, Deutsche Bank and AIG. With a few strokes of the keyboard, the evidence gathered during thousands of investigations – “18,000 … including Madoff,” as one high-ranking SEC official put it during a panicked meeting about the destruction – has apparently disappeared forever into the wormhole of history.'

Read more: SEC Whistleblower: Feds Destroyed Evidence Of Thousands Of Wall Streets’ Worst Crimes