Tag Archives: Corruption

Russia’s Rusting Gold

Here’s a head scratcher: as everyone knows from elementary chemistry courses, gold is the most inert metal in the world – it does not rust, nor corrode. Yet this is precisely what Russian commercial precious metal trading company, International Reserve Payment System, discovered on thousands of (allegedly) 999 gold coins “St George” issued by the Central Russian Bank. The serendipitous discovery occurred after various clients of the company had requested that their gold be stored not in a safe, but in a far more secure place: “buried under an oak tree.” As the website of IRPS president German Sterligoff notes: once buried, “the coins began to oxidize under the influence of moisture.” And hence the headscratcher: nowhere in history (that we know of) does 999, and even 925 gold, oxidize, rust, stain, spot or form patinas, under any conditions. (Read more from zerohedge.com)

Rusting Russian Gold

Obviously, global warming is much more severe than we thought.

Gold — anti money printing & the paper-gold fraud

Ben Davies, CEO of Hinde Capital, first explains gold’s rising value in terms of the massive money printing going on all over the world. The interviewer questions whether there isn’t a gold bubble forming and cites reports of “over leveraging” in the “non-physical” gold market. This is euphemistic language for the massive fraud widely reported in the alternative media.

$18M Being Spent to Redesign Recovery.gov Web Site

ABC News’ Rick Klein reports: For those concerned about stimulus spending, the General Services Administration sends word tonight that $18 million in additional funds are being spent to redesign the Recovery.gov Web site.

The new Web site promises to give taxpayers more information about where their money is going than the current version of the site.

“Recovery.gov 2.0 will use innovative and interactive technologies to help taxpayers see where their dollars are being spent,” James A. Williams, commissioner of GSA’s Federal Acquisition Service, says in a press release announcing the contract awarded to Maryland-based Smartronix Inc. “Armed with easy access to this information, taxpayers can make government more accountable for its decisions.”

The contract calls for spending $9.5 million through January, and as much as $18 million through 2014, according to the GSA press release.

“We are pleased that another major milestone has been achieved,” Earl E. Devaney, chairman of the Recovery Accountability and Transparency Board, says in the press release. “We thank the GSA for its assistance and look forward to working with Smartronix. (Read more from blogs.abcnews.com)

The Latest Gold Fraud Bombshell: Canada’s Only Bullion Bank Gold Vault Is Practically Empty

Continuing on the trail of exposing what is rapidly becoming one of the largest frauds in commodity markets history is the most recent interview by Eric King with GATA’s Adrian Douglas, Harvey Orgen (who recently testified before the CFTC hearing) and his son, Lenny, in which the two discuss their visit to the only bullion bank vault in Canada, that of ScotiaMocatta, located at 40 King Street West in Toronto, and find the vault is practically empty. This is a relevant segue to a class action lawsuit filed against Morgan Stanley, which was settled out of court, in which it was alleged that Morgan Stanley told clients it was selling them precious metals that they would own in full and that the company would store, yet even despite charging storage fees was not in actual possession of the bullion. It appears that this kind of lack of physical holdings by all who claim to have gold in storage, is pervasive as the actual gold globally is held primarily in paper or electronic form. Lenny Organ who was the person to enter the vault of ScotiaMocatta, says “What shocked me was how little gold and silver they actually had.” Lenny describes exactly how much (or little as the case may be) silver was available – roughly 60,000 ounces. As for gold – 210 400 oz bars, 4,000 maples, 500 eagles, 10 kilo bars, 10 one kilogram pieces of gold nugget form, which Adrian Douglas calculates as being $100 million worth, which is just one tenth of what the Royal Mint of Canada sold in 2008, or over $1 billion worth of gold. As Orgen concludes: “The game ends when the people who own all these paper obligations say enough and take physical delivery, and that’s when the mess will occur.” (Read more from zerohedge.com)

Few More Sources Pick Up Metal Manipulation Story

Huffington Post: It’s Ponzimonium in the Gold Market

PR Newswire: Silver Short Squeeze Could Be Imminent
JP Morgan took over the concentrated short position in silver from Bear Stearns and gained complete control over the paper price of silver. Within weeks, JP Morgan was able to manipulate the price of silver down to below $9 per ounce. NIA believes they were able to drive the price of silver down through “naked short selling,” selling paper silver that is unbacked by physical silver.

Congressional Staff Exempt from Health Care Reform Mandates

House Speaker Nancy Pelosi promised that we would find out what is in the health care reform bill after it passed. And, true to her promise, certain provisions are now coming
to light, including one that exempts certain Congressional staff.

According to the Hotline, Congressional staff who work for committees or leadership offices are specifically exempt from the mandates imposed by health care reform to enroll in government provided health care reform plans.

“The loophole for leadership staffers could impact thousands of Hill employees. There are 16 active leadership offices in the House and 26 in the Senate, according to the government transparency website LegiStorm. Some are small, with just a few employees. Others are much larger; Speaker Nancy Pelosi paid 54 employees a total of $1.1M in the last quarter of ’09, while House Min. Leader John Boehner paid his 26 staffers a total of $721K in the same quarter.

“Leaving out committee staffers means aides at the 24 standing House committees and the 20 Senate panels will each be exempted as well, if CRS’s interpretation of the measure stands.” (Read more from associatedcontent.com)

Virginia Introduces $3550 Speeding Ticket

EDIT: This law was repealed.

Repealed by Acts 2008, cc. 656 and 657, cl. 1, effective March 27, 2008. (source)

Thanks, Elizabeth.

Virginia motorists convicted of minor traffic violations will face a new, multi-year tax beginning July 1. Led by state Delegate David B. Albo (R-Springfield), lawmakers slipped a driver responsibility tax into a larger transportation funding bill signed by Governor Tim Kaine (D) in April. Albo, a senior partner in the Albo & Oblon, LLP traffic law firm, can expect to see a significant increase in business as motorists seek to protect their wallet from traffic tickets that come with assessments of up to $3000 in addition to an annual point tax that tops out at $700 a year for as long as the points remain.

“The purpose of the civil remedial fees imposed in this section is to generate revenue,” the new law states. (Virginia Code 46.2-206.1)

Driving as little as 15 MPH over the limit on an interstate highway now brings six license demerit points, a fine of up to $2500, up to one year in jail, and a new mandatory $1050 tax. (Read more from thenewspaper.com)

The crooks are in charge.