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The Greatest Fraud in Human History

04/06/2010

This makes Bernie Madoff look like a little boy stealing from the cookie jar. These guys at the LBMA are trading  more than 100 times the amount of gold they have in their vaults; they’re trading half the entire US GDP every year! It’s a giant Ponzi scheme. Paper hedging paper. There is not enough gold in the world to cover the short positions that JPMorgan alone has. And that is a fact, I can prove it. Go to http://bit.ly/c7cxC2 to read the transcripts of the GATA in the CFTC hearing. You’ll see Adrian Douglas say exact these things. And then the chairman of the CFTC agrees with him, but then says that since its been done this way for such a long time that it doesn’t matter. Doesn’t matter! We’re talking about if only 1% of those investors who hold these paper gold contracts try to claim their physical gold that the contract entitles them to the entire financial world will collapse. Its a giant upside-down pyramid balancing on a high-wire with no net to catch them (gold is supposed to be the net!).

One man tried to tell the CFTC watchdogs in Washington what was happening and he got run down! Crazy story. Like it should be in some movie, but its not! The truth is much stranger than fiction here:

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