Comment Text:
As I read of the endemic financial corruption and accompanying regulatory uselessness in books like 'The Big Short', I have to laugh when Ted Butler urges his readers to dutifully write the CFTC in regards to JPMorgan et al's silver manipulation which he rightfully calls a 'crime in progress'.
I have written CFTC Commisioners numerous times and got no response.
When I read Judge Painter's revelation that he and the other CFTC Judge were urged by the then-CFTC Chairman to side against plaintifs, I shrugged my shoulders, as it seemed consistent with CFTC actions regarding on-going metals manipulation.
I think the ongoing obfuscation and filibustering of meaningful regulation regarding metals manipulation perfectly fits the tradition of 'see no evil' that the SEC and CFTC have practiced, which has enabled financial institutions such as DeutscheBank, JPMorgan, GoldmanSachs, ect., to corrupt our financial system, and bring about the inflation throughout the world which causes people to riot and starve.
I believe your inaction doesnt simply enrich banks. I can only imagine the teary-eyed pleas banker lobbyists bring before CFTC predicting how the sky will fall if they arent allowed to continue to manipulate metals prices. Metals manipulation enables inflation and allows government to deceive it's citizens that all is well. Meanwhile the world burns will the CFTC fiddles around.
In case this sounds like alot of hysterical hyperbole to you, below is a sampling of what Presidents from the Revolutionary War to modern times have said of the importance of properly valuating gold and silver
The refusal of King George 3 to allow the colonies to operate an honest money system, which freed the ordinary man from the clutches of the money manipulators, was probably the prime cause of the American revolution American Revolutionary, Ben Franklin
All the perplexities, confusion and distresses in America arise not from defects in the Constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation." 2nd President, John Adams
I believe that banking institutions are more dangerous than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. The modern theory of the perpetuation of debt has drenched the earth with blood, and crushed its inhabitants under burdens ever accumulating. Paper is the ghost of money, and not money itself. If a nation can issue a dollar bond, it can issue a dollar bill. That which makes the bond good makes the bill good.
3rd President, Thomas Jefferson
History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.
4th President, James Madison
If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations. The bold efforts the present (Central) Bank had made to control the government are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it. I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic; inasmuch as it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out and by the grace of the Eternal God, I will rout you out. 7th President, Andrew Jackson (First President elected by the Democrat Party)
The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity.
16th President, Abraham Lincoln
Issue of currency should be lodged with the government and be protected from domination by Wall Street. We are opposed to provisions which would place our currency and credit system in private hands. 26th President, Theodore Roosevelt
I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men. 28th President, Woodrow Wilson
The real truth of the matter is, as you and I know, that a financial element in the large centers has owned
the government ever since the days of Andrew Jackson.
32nd President, Franklin D. Roosevelt
Silver has become too valuable to use as money.
36th President, Lyndon Johnson
