Gold Daily Chart: http://www.jessescrossroadscafe.blogspot.com/

(Go to café to see chart)

“Central banks stand ready to lease gold in increasing quantities should the price rise.”

Sir Alan Greenspan, US Federal Reserve Bank, 24 July 1998


"We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K."

Sir Eddie George, Bank of England, September 1999


"The schools would fail through their silence, the Church through its forgiveness, and the home through the denial and silence of the parents. The new generation has to hear what the older generation refuses to tell it...The only value of nearly five decades of my work is a warning to the murderers of tomorrow, that they will never rest.”

Simon Wiesenthal

"Who is our Simon Wiesenthal? Who will track down these criminals in the coming months, years, decades? Perhaps we need some old men to spend their last years in prison after thinking they effectively fleeced the world. Perhaps the cycle of crises can be mitigated if the prosecution for these particular crimes continues for decades and every so often Wall Street is reminded that there is no sanctuary and that individuals will be hunted down at whatever time in whatever place."

The Fourteenth Banker, Financial Crime, the Statute of Limitations, and Simon Weisenthal

A World That Cherishes Lies

Posted: Jul 22 2010 By: Jim Sinclair Post Edited: July 22, 2010 at 12:33 pm

Filed under: General Editorial

Dear Friends,

Please read the following. I consider this one of the most important viewpoints given to you since this endeavor began seven years ago.

I am totally disgusted that the world we live in welcomes, maybe even cherishes, lies when they benefit from those lies. It is possible that the number of broken banks in the USA and elsewhere are comparable to the number of broken banks in 1930.

FASB capitulated to lobby pressure and legislative threats to cancel Fair Value Accounting. Read the following article. Lying and kicking the can down the road only turns a simple can to a nuclear device.

The financial industry has been given the blessing of their regulators, FASB, to publish false and misleading balance sheets and income statement.

God help us all.

At least Sodom and Gomorra had some fun in their last days. Financial Sodom and Gomorra have been invited and are being blessed by those we have put our trust in to maintain ethics.

Fabrication is economic sin and therefore cannot cure our problems but lead us into a form of damnation economically. If you, like yesterday, were thinking of throwing out your insurance because paper gold can be manipulated, do so, but do not break my chops.

What you see below is as prevalent in major banks as it is in regional banks. How much is your bank overvaluing their assets by?