Government shutdown and Chinese gold
EXTRACT
Gordon Duff first reported in Veterans Today another financial scandal motive for the Repubs wanting to hold up Obama Care. New regulations were going into effect to stop the cross collateralization of insurance company reserves, who are all owned by banks, so they could be market traded. The sums involved were astronomical.
“The Obama Care issue is about ‘funds in management.’ The health insurance industry, through investment banks and hedge funds, accounts for 35% of the entire investment capital of the United States.
This sector has been totally unregulated with, not just individual policyholders but industries and government forced to subsidize a health care Ponzi scheme where in some cases fewer than 3% of policy premiums were paid back in benefits.”
And there are more aspects to the charade. This summer we had been expecting a major public discussion about the renewal of the Federal Reserve, including possible changes in the ownership structure.
But all that went out the window with what we now know was an orchestrated Syrian gas attack with all its subsequent turmoil, and with the looming debt limit renewal in October where we know the Repubs were going to make their big play.
Bill Engdahl gave us more behind the scenes financial moves in his Oct. 17th, VT article, about the gold market doing strange things, going down when it should be going up during financial upheavals, an indication of market manipulation.
“The Chicago Commodity Exchange where contracts in gold derivatives are traded, announced on Friday October11th, that at 8:42 am Eastern time, trading was halted for 10-seconds after a safety mechanism was triggered because a 2 million ounce gold futures sell order was executed.”
Whereas a huge sell order like that with in the middle of a crazy default battle would have investor running to buy gold, the price went down $30 that day.
Engdhal continues, “This past April 10th, the heads of the five largest US banks, the Wall Street “Gods of Money”—JP Morgan Chase, Goldman Sachs, Bank of America and Citigroup—requested a closed door meeting with Obama at the White House.
Fifteen days later, on April 25, the largest one day fall in history in gold took place. Later investigation of trading records at the Comex revealed that one bank, JP Morgan Securities, was behind the huge sell-off of gold derivatives.”
