Obama v. Hillary – A Conspiracy Theory That Made Sense Until It Didn’t…

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Obama has just endorsed Hillary Clinton, in spite of saying, yesterdaythat the “super delegate in the White House hasn’t made his choice yet” or something to that effect. It was rather odd given that she had the delegates to win the Democratic nomination. Meanwhile, Sanders is still not bowing out in favor of party unity. Is he just an angry old man?

http://www.marketwatch.com/story/obama-not-ready-to-endorse-clinton-at-this-point-white-house-2016-06-07

Still, the theory that Obama’s Justice Department would feel compelled to indict Hillary Clinton over the emails seems to have fallen apart? It is widely believed that the FBI team investigating the case wants to charge and pursue a case against Hillary Clinton. However, the Obama Justice Department can block it by simply refusing to bring it. If the FBI’s agents ever made its opinion overtly public (it is already semi-public), the refusal to prosecute, obviously, would look very corrupt. If there is a leak that proves that the FBI wanted her indicted, and the Justice Department refused, Democrats will suffer a sure loss in the November election.

I had previously suggested that there might be a secret deal. Think about this… if the indictment had been done early on, the big NYC banks would have surely put up Michael Bloomberg as a third party candidate. In spite of being a Republican in name-only, Bloomberg appeals to wealthy Democrats in NYC and the northeast. He would have diverted contributor money, attention and votes away from Sanders and caused him to lose. In contrast, if an indictment comes just before the Democratic convention, there will be no time to qualify a third party candidate.

Sanders is ahead of both Donald Trump and Hillary Clinton in most general election polls. However, he would break up the NYC banks, which means they support Hillary Clinton. The tiny cabal of bankers have been diligently paying their golden girl $1 million dollars a pop for 1 hour speeches. She’s bought and paid for, and now she’s essentially the Democratic Party’s nominee for President.

Stay tuned!


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READ “THE SYNOD” – AN EXCITING NEW THRILLER ABOUT HIGH FINANCE & INTERNATIONAL INTRIGUE!!

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amazon-best-sellers-smallerNOW ON THE AMAZON LIST OF “TOP 100 BESTSELLING FINANCIAL THRILLERS”!

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“…It is not everyday that you find a book like that which is exceptionally well written, moves fast, and grips your attention… I had a hard time putting it down… This new author supplies us with a thought provoking work of fiction that will probably take off into the bestseller category if it is ever publicized well. It is a fascinating and outright scary novel. The forward to the novel includes a detailed summary of all the real-world facts that inspired the author to write it.” MarlaMerlow on Goodreads.com | May 20, 2016 | *****

“I loved the balance of information I didn’t know, the character development that crept in stealthily and the satisfying depth of writing more than expected from an “Action-Packed Thriller.” The plot, pace, writing and fallibility of characters were all excellent… | Bridgit Davis on Librarything.com| Jul 17, 2016 | ***

“This was a good book. Well written and thoughtful. Good balance of action vs. characterization. Characters are deeper than you will find in most thrillers. Educational. Is it fiction or a true story? This I do not know. But, I do know that this is a book worth reading…” Jackie Martin on Librarything.com| Aug 16, 2016 | *****

“The Synod is a well written thriller with an excellent plot and with great well developed realistic characters. The story is action packed and fast paced. Could easily be taking place in present day times. Provides for a quick read and was quite enjoyable. Plenty of information to absorb. Plenty of twists and turns leading up to a great ending…” Jim Phillips on Librarything.com| Aug 17, 2016 | *****

“Exciting and appealing novel, Ludlam`s style (the author should take this as a huge compliment)… Almost felt ashamed being a banker myself. The author appears to be very well informed of or acquainted with various banking and brokerage activities, both bona and mala fides, as well as with (anti) money laundering operations and regulations. That provides a special touch of genuineness to this story….” Gordana Aleksic on Kobostore.com on September 27, 2016


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WHY GOLD PRICES ARE HEADED UP NOW

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As momentum in the gold market turns bullish, many people wonder what has suddenly happened to change things? The simple answer is nothing. The price of gold is simply being set by politics, as has been the case since at least April 12, 2013.

Once you crunched the numbers, it was easy to see that the old prices couldn’t last. In my article, “Did COMEX Just Receive A Physical Gold Bailout From The Feds?”, published in June 2015, I did just that. Gold prices were down to about $1,175 per troy ounce, and I took the trouble to calculate the physical cost of the politics of gold. Comparing new mining supplies + scrap vs. the then-existing demand level, I concluded that some not-so-mysterious gold supplier of last resort had to inject at least 1,345 tons in order to balance supply with demand in 2015.

As it turned out, demand in both India and China went up a lot more than we expected back then, even as supply came in exactly as projected. As a result, the politicians at the US Treasury, in concert with their financial agents on Wall Street, were forced to inject something higher than my figures showed back then. If they hadn’t done so, we would have seen shortages and panic. Since it didn’t happen, in spite of a gap between supply and demand near 1,500 tons, someone supplied the gold. As noted in the same article, the gap between supply and demand in 2014 was about 600 tons. In 2013, there was also a big gap (some 1,200 tons), but it was filled mostly by dishoarding from the shrinking western ETFs.

Since I believe that the only entity with the motive and resources to inject these huge amount of gold into the market is none other than the US government, America’s gold hoard is now down from 8,100 to 6,000 tons of gold. The rest is probably subject to location swap liens and other legal encumbrances owed to other nations like the UK, which may have forwarded the hard physical gold needed in 2014/15 from its vault. It will be expecting that gold back someday.

As explained in June, the financial agent for the US Treasury is almost certainly JP Morgan Chase. They have an overtly disclosed contract to manage the Federal Reserve’s mortgage bond portfolio, and, I believe, a covert contract to manage the Treasury’s gold.  So, let’s fast-forward to today, and see what the big shots at JPM have to say. On February 11, 2016, in an oral interview on CNBC, Robert Michele, JP Morgan’s global Chief Investment Officer (NYSE:CIO), showed great emotional frustration. He seemed to throw up his hands, and while doing that, he stated that people “have more confidence in gold than paper money.”

It was a very puzzling statement for someone to make. It was a bizarre emotional reaction on camera, given the fact that gold prices have been plummeting for 4.5 years!  I believe that Michele’s comments can only be understood in context. If top people at JPM already know that the deep drop in gold prices was artificially contrived, and that the continuing physical demand is natural and real, his statements and facial expressions make perfect sense.

In short, Mr. Michele is expressing his frustration that JP Morgan Chase was unable to break the back of gold demand, in spite of having been given what I believe was carte blanche to invade the US Gold Reserve by the Obama Administration. Have they thrown away thousands of tons of American-owned gold and accomplished nothing?  I believe that they have. That was frustration reflected in what Mr. Michele’s voice, in my view.

Sooner or later, it becomes necessary to slow down the hemorrhage. That means it is now necessary to allow prices to rise somewhat. Money can be made on short term short and long positioning, during the process of gold price normalization, of course. It is not going to happen all at once. It will be a step-wise process. Remember, physical buyers are very price sensitive. When prices go up by $50 – $100 in one shot, they stop buying. That means the price doesn’t have to go up much more than that in order to tamp down demand. The problem is that these sudden bouts of cheapness don’t last long. The hesitancy exhausts itself as they get used to the higher price, and prices must go up another notch.

Over the next year, expect sequential price increases. They will rise in bits and spurts. Up by $35, then down by $20, as price point is tested by both sides, to see how much physical gold gets eaten up. At some point, maybe by the end of 2016, a point where the supply and demand is equalized will be reached. If a new source of physical gold fortuitously appears on the way (like a fire sale by Venezuela?), it will be opportunistically used. But, the physical gold deficit in 2016 would have been over 2,000 tons if gold had stayed beneath $1,200 per ounce. So, even a few hundred tons from Venezuela isn’t going to stop the adjustment process.

The bottom line is that gold prices will now rise because a price must be found that discourages people from buying so much. My best guess is that this will be somewhere near the place when supply and demand last balanced, in late 2012, or somewhere between $1,500 and $1,600 per ounce. That assumes that the sovereign debt crisis doesn’t explode along the way. If it does, the sky is the limit, because the demand will skyrocket beyond already high levels.

In 2017, if our new President is Bernie Sanders and/or Donald Trump, gold will do well. Neither derives large campaign contributions from Wall Street, which means that gold price scams are not going to be an attractive proposition for either of them. Gold can be expected to soar in 2017 under either President even if nothing significant happens. If we have a sovereign debt crisis though, all bets are off.  Irrespective of whether or not a full blown crisis occurs, we will almost certainly see the insolvency of a lot of pension plans in the USA by the end of 2017. That is also going to propel gold demand and, therefore, prices.

If Hillary Clinton, the candidate most beholden to the big NYC banks, is the winner, we will see more gaming of the system, with a renewed effort to control prices. But, the USA is fast running out of gold. Clinton cannot change that. How fast prices will rise is and will continue to be a matter of politics. If Hillary is willing to preside over the emptying of America’s entire gold reserve, prices will be slowed down, or may even decline for a while. But, in the end, they will rise as certainly as the sun will rise in the morning.

I hope you’ve enjoyed this article. It’s been a long time and some have been wondering what I’ve been doing? I assure you that I’ve been very productive. For example, I’ve written a new thriller, “BANK – Thrilling Adventures on Wall Street” which you might enjoy reading. It can be pre-ordered from Amazon.com and automatically delivered to you on its release date of April 16, 2016. The novel is fiction, of course, but it was inspired by a set of true facts. Among other things, the novel touches on the process of gold manipulation and reading it will help you more clearly visualize how it is done.


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Welcome!!

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You’ve arrived at Avery B. Goodman’s Blog. It’s the place to find my latest articles and book releases. Sign up for the mailing list, and it’ll automatically keep you up-to-date!

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The ‘Big Long’ Gets Bigger As Goldman And HSBC Gobble Up Tons More Gold

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Summary

Goldman Sachs and HSBC buy up a couple more metric tons of gold – now 9.23 tons and counting.

The Volcker rule does not, and never will, prohibit banks from engaging in proprietary trading in physical gold, silver, or platinum bullion.

The Volcker rule won’t go into effect against big-bank-owned hedge funds until June 2017.

When bank-funded and -controlled hedge and private equity funds are finally subject to Volcker’s rule, it should result in significant upward pressure on the price of bank metals.

What happens next is that the price of bank metals will rise considerably, even in the absence of a collapse of the worldwide bond bubble.

The Big Long was big already. It just got bigger. In the previous article, I noted that Goldman Sachs (NYSE:GS) and HSBC (NYSE:HSBC), had taken delivery of a staggering 7.1 metric tons of physical gold in August, 2015. Since then, they’ve gobbled up tons more.

As of Wednesday, Goldman Sachs bought 142,100 troy ounces (4t 419.8040 kg.) worth of physical gold bars into its proprietary trading account at CME, Inc. HSBC bought a total of 154,800 troy ounces (4t 814.8181 kg.). The two banks have now scooped up approximately 9.23 tons worth of hard metal.

These physical gold bars are headed into the banks’ own vault. That’s what the banks say. They are being purchased as a proprietary trade. That’s what the COMEX exchange says. We know this because commodities regulations require that clearing firms declare the intended ownership of such deliveries.

To better understand what I am talking about, let me explain a few things about how clearing houses work. All clearing brokers who are active at any CME, Inc. exchange, including COMEX, have both a house and a customer account registered with the exchange. The “house account” is the “clearing firm’s proprietary, non segregated trading account.”

You read that correctly. The words are “PROPRIETARY TRADING”! No, they are not my words, but the words…

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The ‘Big Long’ – Goldman Sachs And HSBC Buy 7.1 Tons Of Physical Gold

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Summary

On August 6, 2015, Goldman Sachs, which has issued very bearish forecasts on long-term gold prices, took delivery of a 3.2-ton purchase of physical gold.

On August 6, 2015, HSBC which also claims to be bearish, took delivery of a 3.9-ton purchase of physical gold.

In both cases, the purchases are registered as being for the benefit of the bank’s own house account, rather than the accounts of customers.

Investors should do as the banks do, not as they say.

On August 6, 2015, Goldman Sachs (NYSE:GS) and HSBC (NYSE:HSBC) took delivery of a sum total of 7.1 tons of physical gold. No, I have not made any typographical errors. And no, I am not talking about electronic paper claims. I am talking about shiny yellow metal stuff that you can touch and feel.

The gold bars were not purchased for bank clients. They were purchased for the banks themselves. How do I know this? They are designated by the exchange as being for delivery to the bank’s “house” accounts at COMEX, not to client accounts.

Goldman Sachs, alone, took 3.2 tons worth of physical gold bars. Yet, even as the firm builds its stockpile, Goldman tells clients not to do it. According to Goldman’s Jeffrey Currie, the long-term outlook for gold is bleak.

“In longer term, we definitely like playing this market on the short side. We think we are in a structural bear market, not only in gold, but across the commodity complex, as the individual commodity stories are reinforcing to one another, creating a negative feedback loop.”

In spite of the antics in the paper-gold market, we know the physical market is on fire. Demand will exceed known supplies by at least 1,350 tons in 2015. More in 2016. But, that won’t stop someone from setting up the paper market in order to buy from the physical market very cheaply. This is because the mysterious gold “supplier of last resort” will fill COMEX physical delivery demand, for the moment at least, no matter how high it rises, and no matter how low other supplies may be.

According to HSBC strategists, there has been a…

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U.S. Federal Government Was Covertly Emptying Gold Reserves To Hold Down Gold Prices

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Summary

On June 1, 2015, JP Morgan added almost exactly enough ounces of physical gold to patch the deficiency between supply and delivery demand at COMEX, avoiding widespread dealer default.

Declassified documents, along with strong circumstantial evidence indicate that it was not JP Morgan, but its most important customer, the US Federal Reserve, that just bailed out COMEX.

The deficit in world physical gold supply will be at least 606.1 tons in 2015, but may be much larger, and similar incidents are likely in the future.

The deficit in world gold supply versus demand will grow much larger in 2016 and beyond.

Even if the entire remaining US gold reserves were mobilized, prices could not be permanently held down to current levels, making gold and gold mining stocks a good deal now.

In an article dated June 1, 2015, I pointed out that COMEX clearing members had gotten themselves to the edge of a widespread default on physical gold delivery obligations. They faced net claims of 550,000 troy ounces against only 370,000 registered ounces left at the COMEX warehouses. That left a deficiency of 170,000 ounces, or 5.29 tons of gold.

That same day, JPMorgan Chase (NYSE:JPM) transferred 177,402 troy ounces of gold into COMEX registered gold stockpiles – just enough to cover the shortfall at maturity, plus some extra to cover the additional buying that always happens during an average delivery month. All this raises a question: Did JPMorgan Chase just engage in a bailout similar to John Pierpont Morgan’s 1907 bailout of the New York City banks?

At first glance, it may appear as if JPM bailed out other COMEX clearing members. If you look closer, however, you see something else. The June 2, 2015 delivery report shows that the gold that saved COMEX came from JPMorgan’s house account. Then, after replenishing COMEX registered gold supplies, it delivered 246,800 troy ounces of bank-owned gold, representing 2,468 matured short contracts, as JPMorgan customers purchased and took delivery of 42,200 troy ounces.

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