Tag Archives: fake news

Anti-Gold Propaganda Flares Up

Predictably, after the gold price has been pushed down in the paper market by the western Central Banks – primarily the Federal Reserve – negative propaganda to outright fake news proliferates.

The latest smear-job comes from London-based Capital Economics by way of Kitco.com.   Some “analyst” – Simona Gambarini – with the job title, “commodity economist,” reports that “gold’s luck has run out” with the 25 basis point nudge in rates by the Fed.  She further explains that her predicted two more rate hikes will cause even more money to leave the gold market.

Hmmm…if Ms. Gambarini were a true  economist, she would have conducted enough thorough research of interest rates to know that every cycle in which the Fed raises the Funds rate is accompanied by a rise in the price of gold.  This is because the market perceives the Fed to be “behind the curve” on rising inflation, something to which several Fed heads have alluded.    In fact, the latest Fed rate hike, on balance, has lowered longer term interest rates, as I detailed here:  Has The Fed Really Raised Rates?

Furthermore, to which “gold market” is Ms. Gambarini referring?  There’s the fractional paper gold markets of NYC and London and the physical importation and bullion trading markets in the eastern hemisphere.   While she does indeed acknowledge the upswing in gold demand coming from India and China, she downplays its significance.  Currently India and China are importing more physical gold than at the same time last year.  Several other smaller markets have been actively importing significantly more gold now than at the same time last year (Turkey, for example).

Finally, Ms. Gambarini – unbelievably – states that “she sees less safe-haven demand supporting the market as geopolitical concerns have started to disappear.”  I don’t even know how to respond to that idiotic assertion considering that Russian and U.S. military jets are antagonistically engaged in the sky over the Middle East as I write this.  Either Ms. Gambarini is tragically incompetent at her chose profession or she is purposely propagating fake news.

If Ms. Gambarini was smart enough to do thorough research on the topic or was interested in reporting the truth, she explain that, at least 80% of the time, the gold price rises during Asian trading hours and falls during NYC/London hours, like today:

The mining stocks have been strong relative to the price of gold this week. My bet is that this reflects the likelihood that the latest price-takedown of gold in the paper market has run its course. The dramatic drop in Comex paper gold open interest, as well as a drop in the net short position of the Comex bullion banks and a drop in the net long position of the hedge funds (per the COT report), reinforces the signal transmitted by the mining stock this week.

Any flinch from the Fed in its alleged desire to tighten its monetary policy, or if a “spark” hits the growing geopolitical powder-keg in the Middle East, and gold will quickly shoot over $1300 on its way to much higher levels.

The Housing Market Bubble Is Popping

As with all other highly manipulated data, the financial media has a blind bias toward the “bullish” story attached to the housing market. Understandable, as the National Association of Realtors spends more on special interest interest lobbying in Congress than any other financial sector lobby interest, including Wall Street banks.

New home sales were down last month, according to the Census Bureau, 11.3% and missed Wall Street’s soothsayer estimates by a rural mile. Strange, that report, given that new homebuilder sentiment is bubbling along a record highs. Existing home sales were down 2.3%. You’ll note that the numbers reported by the Census Bureau and NAR are “SAAR” – seasonally adjusted annualized rates. There is considerable room for data manipulation and regression model bias when a monthly data sample is “seasonally adjusted/manipulated” and then annualized.  You’ll also note that mortgage rates have dropped considerably from their December highs and May is one of the seasonally strongest months for home sales.

It’s becoming pretty clear to me that the housing market’s “Roman candle” has lost its upward thrust and is poised to fall back to earth. I believe it could happen shockingly fast. Fannie Mae released its home purchase sentiment index, which FNM says is the most detailed of its kind.

The report contained some “eyebrow-raising” results. The percentage of Americans who say it’s a good time buy a home net of those who say it’s a bad time to buy a home fell 8 percent to 27% – a record low for this survey. At the same time the percentage of those who say its a good time sell net of those who say its a bad to sell rose to 32% – also a new survey high. In other words, homeowners on average are better sellers than buyers of homes relative to anytime since Fannie Mae has been compiling these statistics (June 2010).

Currently the prevailing propaganda promoted by the National Association of Realtors’ chief “economist” is that home sales are sagging because of “low inventory.” He’s been all over this fairytale like a dog in heat. The problem for him is that the narrative does not fit the actual data – data compiled by the National Association of Realtors – thereby rendering it “fake news:”

The graph above shows home inventory plotted against existing home sales from 1999 to 2015 (note:  when I tried to update the graph to include current data, I discovered that the Fed had removed all existing home sales data prior to 2013).   As you can see, up until Larry Yun decided to make stuff up about the factors which drive home sales, there is an inverse correlation between inventory and the level of home sales (i.e. low inventory = rising sales and vice versa).   I’m not making this up, it’s displayed right there in the data that used to be accessible at the St Louis Fed website.

Furthermore, if you “follow the money” in terms of new homebuilder new housing starts, you’ll discover that housing starts have dropped three months in a row. The last time this occurred was in June 2008.   IF low inventory is the cause of sagging home sales – as Larry Yun would like you to believe – then how come new homebuilders are starting less homes? If there’s a true shortage of homes, homebuilders should be starting  as many new units as they can as rapidly  as possible.

Although the Dow Jones Home Construction Index is near a 52-week high – it’s still 40% below it’s all-time high hit in 2005.  Undoubtedly it’s being dragged reluctantly higher by the S&P 500, Dow, Nasdaq and Tesla.   Despite this, I presented a homebuilder short idea to subscribers of the Short Seller’s Journal that is down 13.6% since  I presented it May 19th.  It’s been down as much as 24.2% in that time period.   It is headed to $7 or lower, likely before Christmas.  I also  presented another not well followed idea that could easily get cut in half by the end of the year.

The next issue of the Short Seller’s Journal will focus on the housing market.  I’ll discuss housing market data that tends to get covered up by Wall Street and the media. I have been collecting some compelling data to support the argument that the housing market is rolling over…you can find out more about subscribing here:  Short Seller’s Journal info.

In the latest issue released yesterday, I also reviewed Amazon’s takeover of Whole Foods:

I just read it and the analysis on Amazon is awesome. This has the potential to be the short of year when the hype wanes and reality sets in – subscriber, Andreas

Has The Fed Actually Raised Rates This Year?

The answer is debatable but it depends on, exactly, to which rates you are referring.  The Fed has “raised,” more like “nudged,” the Fed Funds target rate about 50 basis points (one-half of one percent) this year.  That is, the Fed’s “target rate” for the Fed Funds rate was raised slightly at the end of two of the four FOMC meetings this year from 50 to 75 basis points up to 1 – 1.25%.  Wow.

But this is just one out of many interest rate benchmarks in the financial system.  The 10-yr Treasury yield – which is a key funding benchmark for a wide range of credit instruments including mortgages, municipal and corporate bonds, has declined 30 basis points this year.  Thus, for certain borrowers, the Fed has effectively lowered the cost of borrowing (I’m ignoring the “credit spread” effect, which is issuer-specific).

Moreover, the spread between the 1-month Treasury Bill and the 10-yr Treasury has declined this year from 193 basis points to 125 basis points – a 68 basis point drop in the cost funding for borrowers who have access to the highly “engineered” derivative products that enable these borrowers to take advantage the shape of the yield curve in order to lower their cost of borrowing:

In the graph above, the top blue line is the yield on the 10-yr Treasury bond and the bottom line is the rate on the 1-month T-bill.  As you can see the spread between the two has narrowed considerably.

Thus, I would place the news reports that the Fed has “raised in rates” in the category of “Propaganda,” if not outright “Fake News.”

One has to wonder if the Fed’s motives in orchestrating that graph above are intentional. On the one hand it can make the superficial claim that it is raising rates for all the reasons stated in the vomit that is mistaken for words coming from Janet Yellen’s mouth;  but on the other hand, effectively, the Fed has managed to lower interest rates for a widespread cohort of longer term borrowers.

Furthermore, this illusion of “tighter” monetary policy serves the purpose of supporting the idea of a strong dollar and enabling a highly orchestrated – albeit temporary – manipulated hit on the gold price using paper gold derivatives.

To borrow a term from Jim Sinclair, the idea that the Fed has “raised rates” is nothing more than propaganda for the primary purpose of “MOPE” – Management Of Perception Economics.  On that count, I give the Fed an A+.

Trust In The United States Was Bombed Away

Trump employing a “wag the dog” strategy, in which he highlights his leadership on an international crisis to divert attention from domestic political problems, is reminiscent of President Bill Clinton’s threats to attack Serbia in early 1999 as his impeachment trial was underway over his sexual relationship with intern Monica Lewinsky. – Robert Parry, posted on Consortiumnews.com

Robert Parry has a blue chip track record as an investigative reporter.  He broke many news stories about the Iran-Contra affair for AP and Newsweek (back when mainstream news sources were a lot less fake) and he broke the story revealing the CIA was trafficking cocaine with the Contras in the United States in the 1980’s (we’re confident the CIA has upped its drug dealing game now that it has control of the poppy crops in Afghanistan).

Despite apparent internal dispute over the validity of the intelligence that Assad’s regime unleased a poison gas attack on ISIS, president Trump bombed Syrian air force assets.   According one of Parry’s CIA sources, the gas attack was a staged “false flag” event designed to provoke Trump into reversing his recent policy pronouncement that it would not seek regime change in Syria.   It’s also been questioned as to whether or not the gas released was even Sarin.

Amusingly, the staunch neoconservative propaganda rag known as the “Washing Post” published an editorial questioning the legitimacy of Trump’s missile attack.  Even some of the war-thirsty lunatics on Fox News were questioning the decision.

The U.S. has lost its economic and political edge in the global community.   The evidence of this mounts.  Russia and China (and other eastern bloc countries) are accumulating physical gold hand-over-fist as part of a strategy to bolster their currencies and remove the U.S. dollar as the world’s reserve currency.

China and Japan, the two largest financiers of the United States’ debt-fueled consumerism and Government deficit spending, have been quietly reducing the amount of Treasuries they hold and are willing to buy.

It’s become apparent to most outside of the United States, and to some inside, that the U.S. has become one big fraud.  The stock market is artificially propped up to prevent a crash that would wipe out America’s retirement funding assets and collapse the banking system;  via the Fed,  the U.S. has orchestrated a flow of funds system by which a few of its puppet Central Banks (Belgium, Swizterland and Ireland – the value of Ireland’s U.S. Treasury holdings now exceeds its GDP) fund Treasury debt auctions;  and a propaganda-based political system has been created that would make Joseph Goebbels blind with envy.

At the root of this fraud is a fraudulent monetary system that requires the Central Bank, together with the Treasury Department, to control the price of gold for as long as possible. This is accomplished via the issuance of an unending supply of paper “fake” gold to help keep the “market” price of gold in check on the Comex and the LBMA.

At some point the demand for physically delivered gold and silver from the east will sabotage the paper manipulation operation.  That’s point at which the United States will collapse.  In today’s episode, the Shadow of Truth discusses the latest events driving U.S. politics and markets:

Fake News And Real Money

But the most brilliant propagandist technique will yield no success unless one fundamental principle is borne in mind constantly and with unflagging attention. It must confine itself to a few points and repeat them over and over. Here, as so often in this world, persistence is the first and most important requirement for success. – Adolf Hitler

Propaganda, also known as “fake news,” has become the norm in mainstream media reporting. Somehow the idea of Russia hacking the DNC computers morphed into the generic, “Russia hacked the election.” Per Hitler’s formula, Hillary Clinton introduced the idea during one of the presidential debates and kept repeating it until the press seized it and ran all the way with to the end zone with “Trump is a Russian ally.” Now Congress is pre-occupied with the fraudulent charge that Russia is controlling U.S. politics. The whole spectacle is beyond idiotic.

In a similar manner, the reporting of economic statistics has become another tool of propaganda. The Government, as we all well know by now, spits out economic reports based on shoddy statistical samples that are seasonally adjusted. Then the data that is cooked for any specific month is annualized. While the result might not be too far off base for any specific month, the errors aggregate over time so that some statistics, like the GDP report, bear no resemblance to reality.

A great example of using propaganda to promote an idea is the continuous mantra coming from the National Association of Realtors that “low inventory” is hampering home sales. It’s an effective device to make the public think that a lack of homes for sale is the explanation for declining sales. It’s also a lie. Homebuilders are sitting on a record level of inventory. Flippers and investors bought 37% of all existing homes that traded in 2016. Many are sitting on homes they can’t sell for enough to cover their rehab expenses. The over $750,000 segment of the market is flooded with inventory.

The truth is that, if you examine the historical data in order to question the NAR’s assertions, the facts show that since 1999 – which is when the Fed began tracking existing home sales – relative inventory levels do not drive home sales:

In fact – if anything – there is an inverse correlation between inventory levels and home sales. In other words, since 1999, homes sales rise when inventories are low!

Thus propaganda is a tool used to manage public perception.  Unfortunately, a high percentage of the population only consumes headlines and sound-bytes.  It’s the perfect set-up for politicians to employ Hitler’s advice on administering propaganda.  The commonly accepted idea is, in fact, the opposite of the truth.

The commandeering of a country by elitists begins by eliminating real money and replacing it with a fraudulent fiat currency.  But the eastern hemisphere is moving in an opposite direction as the west.  As reproduced in The Daily Coin, Russia and China have quietly struck an agreement laying the groundwork to replace the U.S. dollar’s reserve status with a gold-backed currency system:   Moscow and Beijing join forces to bypass US dollar in world money market.    In today’s episode of the Shadow of Truth we discuss the decline of the United States and the advancement of the new superpower bloc emerging in the east.

Gold & Silver Manipulation: The Biggest Financial Crime In History

Investment Research Dynamics is pleased to present another truth-seeking missile launched by Stewart Dougherty:

This crime is already 285 times bigger than the LIBOR scandal, and 500 times bigger than Madoff’s swindle. It is, in fact, the largest, most destructive financial crime in history.

According to the mainstream financial media (MFM), the biggest financial frauds in history are the Bernie Madoff Ponzi scheme, with roughly $20 billion in net investor losses, and the Bank State rigging of LIBOR, which resulted in 16 guilty banks paying $35 billion in fines, which supposedly equated to their theft.

The MFM have conveniently ignored a far larger financial crime that has been perpetrated for 37 years and counting, and that has netted its orchestrators more than $1,000,000,000,000.00 ($1 trillion) in stolen profits. This crime is so powerful that it can produce fraudulent proceeds of $1+ billion on demand and in minutes, making it unique in the annals of theft. It is a crime that has been committed literally thousands of times since 1980, and is now being committed in the most blatant and brazen manner ever. This crime is already 285 times bigger than the LIBOR scandal, and 500 times bigger than Madoff’s swindle. It is, in fact, the largest, most destructive financial crime in history.

To read the rest of this, please click here:  Gold & Silver Manipulation

 

Bank Loans Take A Dive: It’s The Economy, Stupid

I am compelled to correct a report posted on Zerohedge about the cliff-dive going on in commercial, industrial and consumer loans.  The report in ZH suggested the plunge is connected to two possibilities:  1)  this one from a Wall Street sleazebag from Barclays: “it is possible that companies have shifted from the loan to the bond market, and are selling more bonds to lock in cheap financing before rates rise, while not encumbering assets with issuing unsecured debt;” and 2) political uncertainty connected to Trump.

The first possibility could have some small amount of legitimacy except that if you parse through all the data available at the Fed, you’ll see that bank credit has plunged across the entire spectrum of U.S. business (I used size of loan as the proxy). Smaller businesses do not have access to public credit markets and thus the first explanation is the typical apology for a negative economic report that we would expect from a Wall Street con-artist. The second possibility is part of the anti-Trump narrative found in the fake news reports coming from the ignorant.

“It’s The Economy, Stupid”

That quote was created by James Carville as one of Bill Clinton’s campaign slogans in 1992. Those words ring even truer today. A primary example is the restaurant industry numbers discussed above. “Hope” and “confidence” do not generate economic activity. And “hope” is not a valid investment strategy. A better guide to what’s happening to economic activity on Main Street is to see what banks are doing with their lending capital. I borrowed the two graphs below from the @DonDraperClone Twitter feed (click to enlarge):

Commercial bank lending is a great barometer of economic activity. The top graph above shows the year over year percentage change in commercial and industrial loans for all commercial banks. You can see that the rate of bank lending to businesses is falling doing a cliff-dive. These are primarily senior secured and revolving credit loans that sit at the top of the capital structure. If bank lending is slowing down like this, it means two things: 1) the ability of businesses to repay new loans is declining and 2) the asset values used to secure new loans will likely decline. In fact, it is highly probable that the tightening of credit by the banks is a directive from the Fed. Yes, the Fed.  Despite its public commentary suggesting otherwise,  the Fed knows as well as anyone that the economy is tanking.  This is why the Fed can’t hike rates up to a level that would bring real interest rates up to at a “neutral” level (using a real price inflation measure, Fed Funds needs to be reset to at least 6%, and likely higher, to get the real rate of interest up to zero).

The only reason the Fed might “nudge” interest rates higher next week is for credibility purposes. Everyone knows inflation is escalating, which makes it difficult for the Fed to keep interest rates so close to zero. In addition, a rate hike now, even though it will be insignificant in magnitude, will give the Fed room to take rates back to zero when the public and Congress begin to scream about economy.

The second graph shows the year over year percentage change in auto loans. The implications there are fairly self-explanatory. Auto sales are slowing down because the “universe” of potential prime and subprime rated car buyers, new and used cars, has been largely exhausted. In fact, with the default rate on subprime auto loans beginning to hit double-digits, the next phase in the automobile credit market will likely be credit implosion crisis.

The above commentary was an excerpt from the latest issue of the Short Seller’s Journal.

ADP’s Job “Creation” Report Is A Fraud

Put it on CNN and it’s “true.”  Americans will turn on their tv’s and open their newspapers tomorrow (the small percentage that still read newspapers) to hear and read that the U.S. economy “created” nearly 300,000 jobs in February – at least according to ADP. .

The easiest way to hold ADP accountable and eviscerate the credibility of their report is to examine their “methodology.”  Of course, this requires searching the ADP website to find the area way at the bottom where it describes its “methodology,” something no fake news reporter or analyst has to time with which to bother.

As ADP describes in its “methodology” section, it seeks to “closely align” the final output of its calculations with that of the “final print of the U.S. Bureau of Labor Statistics (BLS) numbers.”  Thus,  ADP’s “job creation” report is really nothing more than a regurgitation of the fraudulent employment report issued by the U.S. Government.

Here’s the other variables of input that the new ADP methodology now incorporates into its methodology used in ADP’s  “enhanced  ADP National Employment Report

  • ADP matched-pair growth rates by industry
  • Lagged values of BLS estimates of growth of employment by industry with industry specific restrictions
  •  Unemployment Insurance Claims (UNI_US)
  •  Oil Prices
  •  The Michigan Consumer Sentiment Index (CSENT_US)
  •  The Composite Index of Leading Indicators (LEAD_US)

The “soft” data reports above have nothing do with job creation.  Unemployment claims are historically low because the labor force participation rate is historically low, which means that the number of people who are terminated and can file for nemployment benefits is historically low.  How is this variable an input on job creation?

WELCOME TO ADP’S RABBIT HOLE

Since when did the manipulated price direction of oil create jobs?  Consumer confidence creates jobs?  Please.  In fact, ALL of the variables listed above and used by ADP in formulating its job creation report are highly manipulated and in no way represent the process by which jobs are created – other than the growth in propaganda creation positions at the Government and at the mainstream media outlets.

But there’s more.  ADP claims that 106,000 jobs were created in February in the “goods producing sector.”  The primary goods producing sector in the U.S. is the auto industry, which is currently cutting jobs in order to cut production in the face of record auto inventory sitting on dealer lots.  In fact, GM announced 1,100 job cuts at one of its production facilities yesterday.

ADP also claims that 66,000 jobs were “created” in construction. But we know based on the Government’s construction spending report that the Government alone cut construction spending by nearly 8% last month.  Most major cities around the U.S. now have years of apartment inventory.  For instance, San Francisco now has 5 years of vacant supply:  LINK.   Commercial real estate occupancy rates are soaring with the number of retailers filing bankruptcy and closing stores.  At least 7 major retailers this year have filed chapter 11 or are in the process of trying to restructure debt.  This is a major source of job loss and it’s simply not credible that commercial construction is on the rise, which means that the 66,000 “new” jobs attributed to construction is a complete fraud.

Leisure and hospitality is credited with producing 40,000 new jobs in February.  I’d love to sit down with the ADP analyst to find out where this number came from.  The restaurant industry experienced revenue declines nearly every month in 2016.  Same-store-sales and foot traffic plunged across the industry.  It’s inconceivable that the leisure and hospitality industry produced this many jobs, if any at all, given the underlying fundamental condition of the median average household, which has been experiencing declining real disposable income for several years now

The report also gives credit to small businesses for “creating” 104,000 jobs.  This is  not even remotely credible.  A report out just a couple months ago stated that the creation of new businesses in the U.S. is at a 40-year low:  LINK.  Does anyone really believe that Trump’s “hopium” effect suddenly inspired a rush to start new businesses which then hired 104,000 people?

There’s several more inconsistencies in ADP’s report. I’ll leave it to the reader to sort through the actual report itself and decide what’s real and what’s fraudulent.  As far as I can tell, the ADP report has been designed to piggy-back and “confirm” the fraudulent employment issued by the Government every month.

 

Big Brother In America Is The Media

Journalism and a free, open media is another “check and balance on the three branches of Government and we don’t have that check and balance anymore.” – Shadow of Truth

One of the hallmarks of a totalitarian political regime is control of the media. In 1996 president Bill Clinton signed into law the Telecommunications Act of 1996. This law, which was bought and paid for by corporate media lobbies, allowed big corporations to acquire and consolidate media outlets nationwide.

The 1996 law lifted the limit on the number of television and radio stations any one corporation could own. In 2003, the FCC voted to lift the ban on cross-ownership of newspapers and full-power broadcast stations that serviced the same community. This was the final nail in the coffin of free and competitive media and news-reporting in the U.S.

The 1996 Clinton law followed by the lifting of the cross-ownership ban enabled Corporate America to increase their monopoly on the flow of information in the U.S. and around the world. Now six corporations control well over 90% of all media in the U.S.: NewsCorp, Disney, Viacom, Time Warner, CBS and Comcast.

“Wall Street slips on and geopolitical worries” (Reuters headline).   What does the Trump/Obama wiretapping squabble have to do with whether the stock market goes up or down? It has nothing to do with whether or not corporations can produce goods and services profitably. Too be sure the accusation of wiretapping and the possibility that the accusation is accurate is troublesome in and of itself.  But it has nothing to do with the fact that the stock market is currently the most overvalued in U.S. history.

The headlines, however  reflect the degree to which all media reporting in the U.S. is now under the control of Corporate America – a Corporate America that has assumed control of the political process and has become Orwell’s  Big Brother .

Most people associate the term “fascism” with an authoritarian and nationalistic political system. But it’s much more than that. Mussolini described “fascism” as the merger between Corporations and Government. The political system in the U.S. can easily be considered “fascist,” as Corporate America and Wall Street have used billions of dollars to take over the entire political process including all of the mainstream outlets of communication and news reporting.

The result is directly reflected in the nature of the 2016 presidential and congressional elections. The content of any news reporting is now a product of the material fed through the broadcast and print communication outlets controlled by six corporate monoliths and the Too Big To Fail banks that finance the system.

A good friend and colleague of the Shadow of Truth, John Titus, once quipped with regard to the public’s consumption and acceptance of anything reported as news, “put it on CNN and it’s true.” This statement succinctly summarizes the propaganda which supports the process by which the Government seeks to control the views and perceptions of the public at large.  In today’s Shadow of Truth podcast, we toss around that fact that the United States has become a Goebellsian “playground” and George Orwell’s nightmare:

Chris Martenson: The Mother Of All Bubbles

The Daily Coin sat down with Chris Martenson to discuss the hijacking of the system by the wealthy insider elites and the banks:

The system is rigged against each of us. If you are not a member of the “big club” then you, like myself, have to live with the fact that we are nothing more than an ATM for the uber wealthy. We supply all their toys, entertainment and wealth. The sad part is, we do it willingly.

Here’s how bad it is. You wanna know how bad this is? They don’t even care about optics any more. JP Morgan yesterday announced for the last four years they have only experienced two days of trading loses. There’s about 200 trading days a year. So, out of 800 days only 2 days were loses, but 2016 that number was zero. No day loses and their average take, “from trading the markets” was $80 MILLION a day. Chris Martenson, The Daily Coin

On Thursday March 2 silver was monkey-hammered to the tune of more than a 4% drop in under an hour. There was more than $2 BILLION of digital contracts dropped on the “market” during this time to achieve this massive drop. Gold was, to a degree, spared and only suffered about a 2% drop. Silver was the focus of the bullion banking cartel.

Here’s the thing. These criminal banksters do NOTHING to produce wealth. Their job is stealing. If you or I were to commit a crime, like market rigging, we would be in federal prison on several felony charges, including conspiracy, and would be treated like the criminal we are. The banksters, on the other hand, are treated like royalty for committing the same crime on a global scale. Their crimes should actually be considered crimes against humanity as these crimes impact millions upon millions of people.