Jack Walker

The Global Oil Scam: 50 Times Bigger than Madoff

Phil,

Did you sent a copy of this article to the CFTC and the Congressional Oversight Committees?

Jack

Which Two Banks Are Massively Short Silver?

Ed,

This is a very interesting article. Do we know if Silver is being leased and then shorted?

Do we know if they have a net short position? If so, is it a propriety position or are they acting as agents?

If they are the custodian for the long Silver ETF, could there be a potential conflict of interest?

Jack

CFTC: The Key to Market Manipulation

Avery,

This is an enlightening expose of market manipulation for the benefit of a few at the cost of society as a whole, well done. It seems as if Goldman’s quarterly profits are being paid, in part, by everybody else through higher commodity prices. This is a financial scandal of epic proportions.

The second part of the problem is to rid the commodities markets from long-term pension fund participation, which seems entirely inappropriate with their fiduciary responsibility of investing for long-term capital growth and income. The commodity markets are not long-term capital markets, they are price discovery markets intended for a completely different role. The large long-term capital participation of pension funds and trusts is another example of increasing commodity costs of society as a whole for the benefit of the brokers, dealers and Commodity Trading Advisers who have convinced pension fund trustees that commodities are just another asset class to be considered for long -term investing. This is a second scandal of epic proportions.

Jack

Jim Rogers on the Economy - Bearish on Stocks and Government

Devin,

You are right about too much debt. It was probably the primary driver for inflating housing prices. The combination of lax lending standards and low interest rates in conjunction with a commission based compensation model for originators, processors and Wall Street packagers drove house prices to unsustainable levels. The process is now reversing and will not be helped by making more credit available so we can restart this process. The evolved mortgage lending model with all of its commissions and financial engineering should probably be reevaluated.

Jim is right about the need for somebody to recognize the need for structural changes.

Jack