Site Information
About Us
- RonPaulForums.com is an independent grassroots outfit not officially connected to Ron Paul but dedicated to his mission. For more information see our Mission Statement.
Last edited by Zippyjuan; 01-28-2013 at 11:04 PM.
Pfizer Macht Frei!
Openly Straight Man, Danke, Awarded Top Rated Influencer. Community Standards Enforcer.
Quiz: Test Your "Income" Tax IQ!
Short Income Tax Video
The Income Tax Is An Excise, And Excise Taxes Are Privilege Taxes
The Federalist Papers, No. 15:
Except as to the rule of appointment, the United States have an indefinite discretion to make requisitions for men and money; but they have no authority to raise either by regulations extending to the individual citizens of America.
"Sure, we got your gold right in our vault. Want proof? You're paying a storage fee ain't ya?"
In the middle of 2007, Morgan Stanley paid out $4.4 million to settle a class-action lawsuit initiated against it by its own clients. Why were Morgan Stanley's clients suing it? They alleged that Morgan Stanley took money from them for buying precious metals on their behalf, took money from them for "storage" of these precious metals accounts, but only pretended to purchase the bullion.
Morgan Stanley (reading from the standard Wall Street script) denied the allegations, but settled the case "to avoid the cost and distraction of continued litigation." Before moving on to Morgan's Stanley's latest exploits in the precious metals market, this deserves a few comments.
First of all, if Morgan Stanley did only pretend to purchase bullion on behalf of its clients, while charging them for the "bullion" and storage fees on that imaginary bullion, we have a word for such actions: fraud. So if Morgan Stanley was guilty of swindling its own clients in this manner then why wasn't it required to acknowledge its guilt?
The answer is simple. Morgan Stanley is based in The Land of Fraud (aka the United States of America). In The Land of Fraud swindling people (whether total strangers or long-term clients) is a way of life - just ask a former Goldman Sachs employee. Thus the Wall Street banksters can commit fraud without ever having to admit fraud.
Indeed, Bloomberg explicitly confirmed that the SEC's commit-but-never-admit policy has been standard practice for more than four decades, with such settlements then rubber-stamped by the U.S. judiciary. Bloomberg noted this institutionalized corruption when it criticized a (lone) U.S. judge who has had the temerity to challenge the commit-but-never-admit doctrine:
…As part of the agreement, New York-based Citigroup neither admitted nor denied the allegations, a clause which has been standard in such settlements for at least four decades.
But it gets better for the Wall Street fraud factories. Not only can they commit acts of fraud with impunity while never having to admit to them, but the "fine" they receive after being caught in the act is rarely more than 10% of their proceeds of crime - and often much, much less.
http://www.gold-eagle.com/editorials...son041012.html
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
Another:
The question which ETF-holders must ask themselves is this: when it comes time for the Wall Street bullion-banks to have to choose between covering their own short positions, or honouring their custodial agreements, is there a single, rational individual who doesn't believe that Wall Street will protect itself first?
As the Morgan Stanley bullion-fraud demonstrates, there is no chance of any court ordering “performance” of these agreements, that is, to force the Wall Street fraudsters to go out into the open market to purchase enough bullion necessary to honour their contracts. Instead, all they get is a slap on the wrist, and a fine. And what is typical with corrupt, U.S. regulators (or in a court settlement) is that the fine handed out is only a small percentage of the profits 'earned' in the fraud – thus encouraging Wall Street to engage in fraud whenever they see the potential for profits.
Therefore, we have a scenario today where investors have poured tens of billions of dollars into bullion-ETF's to protect themselves from suffering currency-losses on their un-backed fiat currencies – and many of whom will ultimately end up getting nothing out of their “bullion-ETF” investments other than more paper.
http://www.silverbearcafe.com/privat...9/damages.html
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
Acala's law: The longer an asset or financial instrument has been under the sole control of bankers, the more likely it has become the false front for a confidence scam. Piles of gold, the uber-currency, sitting in bank vaults with little signs on them, gathering dust, untouched by the owners for decades, are like fields of ripe opium poppies to a heroin addict. The chances of their NOT having been some shenanigans is, in my opinion, very low indeed. I would give it even odds that the banks have been playing so fast and loose with "tradition" that when it breaks, it will unravel the world banking cartel. I am poised to laugh my ass off.
The proper concern of society is the preservation of individual freedom; the proper concern of the individual is the harmony of society.
"Who would be free, themselves must strike the blow." - Byron
"Who overcomes by force, hath overcome but half his foe." - Milton
It is standard, and long-standing contract law to NOT order specific performance as a remedy for breech, but rather to order payment of compensation in cash. There are several reasons for this, but the main one is that courts don't like to have to police their judgements by following up to make sure the contracts were actually performed as written. They prefer to just order X dollars to be paid. It is simpler and easier to enforce. But the defendants WILL have to pay market value for the loss they caused. Of course if the banks who have lost the gold are also manipulating the "market" price of gold, they could still get away with a very big haul indeed.
The proper concern of society is the preservation of individual freedom; the proper concern of the individual is the harmony of society.
"Who would be free, themselves must strike the blow." - Byron
"Who overcomes by force, hath overcome but half his foe." - Milton
I located a picture of the vault:
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
The gold was in tower 7, you are all now aware
A society that places equality before freedom with get neither; A society that places freedom before equality will yield high degrees of both
Make a move and plead the 5th because you can't plead the 1st
Anyone taken the tour?
let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!! Spartacus, War of the Damned
BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
Connect With Us