Jim Willie puts the Central Bank in focus on his latest article. Please keep in mind, There are NO FED PLANS TO HELP EUROPEAN BANKS!
The
Euro Central Bank averted 10 to 20 Lehmans with the extended Dollar
Swap Facility provided by the USFed. Money is almost free. The volume of
money grants is enormous, likely never repaid. Witness the effect of
the central banks showing reluctance to enter into bond purchases. The
system breaks down in powerful manner. The European Central Bank said
demand for three-month US$-based loans surged after it announced a
broader Dollar Swap Facility for European usage. The
USFed cut the cost of the financing from an ultra-low 1.0% to an almost
free 0.5% rate. The USFed discount window was made cheaper for foreign
banks than US banks (who pay 75 basis points), an indication of the
destruction.
Rumors persist that a cool $1 trillion has been made
available. Five other central banks participated in the coordinated move
which included the Bank of Japan. The Frankfurt-based EuroCB
immediately made loans for $50.7 billion to 34 big teetering Euro banks
on December 1st, the terms for 84 days at a fixed rate of 0.59 percent.
That compares with the $395 million lent in the last three-month
offering on November 9th at a 1.09% rate. The EuroCB also lent five
banks $1.6 billion in regular weekly dollar operation on a single day as
December opened, up from $352 million the previous week. The borrowing
done at the Discount Window catapulted by 127-fold, from a paltry $395
million to $50.7 billion in a sudden move. Jim Willie gives a shot out to the Doctors.....
Here is the smoking gun. Days after the MF Global bankruptcy was filed, and a vast array of deliveries in silver were expunged. The silver vault inventory tells the story of the crime. JPMorgan simply converted what should have been MF Global client silver into JPM licensed vaults. Review the timeline. MF Global declared bankruptcy on October 31st. About a week later the CME began reporting that 1.4 million ounces of Registered silver was unaccounted for and unavailable for delivery, including 627,182 ounces from non-cartel banks. About 7 to 10 days afterwards, JPMorgan suddenly reported a deposit of 613,738 ounces into Eligible vaults. Exactly seven days later, JPMorgan adjusted this silver into Registered vaults. JPMorgan had not seen one significant silver deposit in months prior to this bountiful day. Great work on the part of the Silver Doctors to decipher the story. The charade continues before the USCongress. They are told of claims that investigators are searching avidly for the missing funds. They know where the funds are, in JPMorgan London accounts. They told us they were avidly looking for Madoff Funds too. They know where those funds are too, in the Land of Yodels. Reckoning is coming.
See the original post where Doc called out JP days before the public caught wind of the problem. http://silverdoctors.blogspot.com/2011/11/did-jp-morgan-just-convert-614000.html
See Jim Willie's full article here
