Kinda like the repo squeeze Q3 2019..and along came a planned virus. They must have atomised it. The jew-run media created the Dam Panic and the jew-run drug companies provided the rancid gloop and made Billions. 15 m dead people and counting.
The fed threw over $1 trillion at it to put the fire out, I had a Zerohedge article that specified this. Next day the link was broken. Taken down.
BlackRock had already written the Bailout Plan for presentation in August 2019 at Jackson Hole.
“It’s called “Going Direct.” That’s the financial bailout plan designed and authored by former central bankers now on the payroll at BlackRock, an investment manager of $7 trillion in stock and bond funds. The plan was rolled out in August 2019 at the G7 summit of central bankers in Jackson Hole, Wyoming – months before the public was aware of any financial crisis. One month later, on September 17, 2019, the U.S. Federal Reserve would begin an emergency repo loan bailout program, making hundreds of billions of dollars a week in loans by “going direct” to the trading houses on Wall Street.
The BlackRock plan calls for blurring the lines between government fiscal policy and central bank monetary policy – exactly what the U.S. Treasury and the Federal Reserve are doing today in the United States. BlackRock has now been hired by the Federal Reserve, the Bank of Canada, and Sweden’s central bank, Riksbank, to implement key features of the plan. Three of the authors of the BlackRock plan previously worked as central bankers in the U.S., Canada and Switzerland, respectively.”
Oh my word. Thats better than my attempt. I was not that far wrong then? Zoltan Pozar was all over that. I have a recording. This is the craziest thing i have heard. It was a valuable insider informer. He has been leaking stuff. Was IN or close to the White House. He was a jew. He said the Jews monitor anti Jewish sentiment. At the time, I thought this was insane. Now I see the ADL produce stats and graphs on jew hate postcodes. Oh yes they do. He said anti-jewish sentiment was circa 15% and had risen to over 50%. The Jews were flapping. He said he numbers were too large for them to “disappear people” and he said “im getting some stuff abiout a flu virus and a vaccine and sounded like he was stupidly for mentioning it”. He said he was being tagged and he was subsequently found dead. Here is the weird bit; the recording was made before he died and was in his Safe found by his lawyer. The tape was released BEFORE COVID OR A VIRUS OR VACCINES. I do know for certain that the batches of the vaccine were very inconsistent. Some were “hot” killed lots of people. Others were not deadly. They were ALL coded so could be traced. Who got which vile of the vaccine. Its a tin foil hat job for sure, but, my only question is this “WOULD THEY DO IT”. THE ANSWER IS “WITHOUT HESITATION”. I have been filtering BS for 30 years and this one got stick in my gills. If its false…its a ripping yarn. Very best.
So an authorized participant borrows a basket of 100 000 GLD and redeems it for gold to make good on a promise to deliver. Then what? Don't they need to repurchase the borrowed GLD shares down the road and return them to the lender?
IMO, most of the gold in GLD has been already sold and the remainder used as collateral. The shoeshine boys who think that they own gold or silver in an ETF will be sadly mistaken when the rubber hits the road.
There's a website called goldensextant.com which has an analysis of the legalese behing GLD. it's called "musings on the realm of GLD".
A little excerpt:
" 8.1 SUB-CUSTODIANS: We may select Sub-Custodians to perform any of our duties under this agreement including the custody and safekeeping of Bullion. The Sub-Custodians we select may themselves select subcustodians to perform their duties, but such subcustodians shall not by such selection or otherwise be, or be considered to be, a Sub-Custodian as such term is used herein. We will use reasonable care in selecting any Sub-Custodian. [Emphasis supplied.]
In other words, the Custodian had the right to appoint subcustodians to hold the gold, who in turn could appoint sub-subcustodians, but the Custodian did not have the obligation, or in some cases even the right, to follow up or supervise. Aside from the Custodian’s obligation to use commercially reasonable efforts to obtain delivery of gold held by subcustodians when necessary, the Custodian would not be liable for the acts or omissions, or for the solvency, of any subcustodian it selected, unless it had acted negligently or in bad faith."
I thought there were questions surrounding whether the GLD ETF had verified hand receipts (at least when GLD was launched) of their purported physical holdings.
Some people compare what is happening with GOFO and the GLD lease rates with the runup to the Repocalypse in 2019 - when US Repo rates spiked over 10%, basically shutting down the Repo market.
Thank you for these.
Kinda like the repo squeeze Q3 2019..and along came a planned virus. They must have atomised it. The jew-run media created the Dam Panic and the jew-run drug companies provided the rancid gloop and made Billions. 15 m dead people and counting.
The fed threw over $1 trillion at it to put the fire out, I had a Zerohedge article that specified this. Next day the link was broken. Taken down.
BlackRock had already written the Bailout Plan for presentation in August 2019 at Jackson Hole.
“It’s called “Going Direct.” That’s the financial bailout plan designed and authored by former central bankers now on the payroll at BlackRock, an investment manager of $7 trillion in stock and bond funds. The plan was rolled out in August 2019 at the G7 summit of central bankers in Jackson Hole, Wyoming – months before the public was aware of any financial crisis. One month later, on September 17, 2019, the U.S. Federal Reserve would begin an emergency repo loan bailout program, making hundreds of billions of dollars a week in loans by “going direct” to the trading houses on Wall Street.
The BlackRock plan calls for blurring the lines between government fiscal policy and central bank monetary policy – exactly what the U.S. Treasury and the Federal Reserve are doing today in the United States. BlackRock has now been hired by the Federal Reserve, the Bank of Canada, and Sweden’s central bank, Riksbank, to implement key features of the plan. Three of the authors of the BlackRock plan previously worked as central bankers in the U.S., Canada and Switzerland, respectively.”
https://wallstreetonparade.com/2020/06/blackrock-authored-the-bailout-plan-before-there-was-a-crisis-now-its-been-hired-by-three-central-banks-to-implement-the-plan/
Oh my word. Thats better than my attempt. I was not that far wrong then? Zoltan Pozar was all over that. I have a recording. This is the craziest thing i have heard. It was a valuable insider informer. He has been leaking stuff. Was IN or close to the White House. He was a jew. He said the Jews monitor anti Jewish sentiment. At the time, I thought this was insane. Now I see the ADL produce stats and graphs on jew hate postcodes. Oh yes they do. He said anti-jewish sentiment was circa 15% and had risen to over 50%. The Jews were flapping. He said he numbers were too large for them to “disappear people” and he said “im getting some stuff abiout a flu virus and a vaccine and sounded like he was stupidly for mentioning it”. He said he was being tagged and he was subsequently found dead. Here is the weird bit; the recording was made before he died and was in his Safe found by his lawyer. The tape was released BEFORE COVID OR A VIRUS OR VACCINES. I do know for certain that the batches of the vaccine were very inconsistent. Some were “hot” killed lots of people. Others were not deadly. They were ALL coded so could be traced. Who got which vile of the vaccine. Its a tin foil hat job for sure, but, my only question is this “WOULD THEY DO IT”. THE ANSWER IS “WITHOUT HESITATION”. I have been filtering BS for 30 years and this one got stick in my gills. If its false…its a ripping yarn. Very best.
So an authorized participant borrows a basket of 100 000 GLD and redeems it for gold to make good on a promise to deliver. Then what? Don't they need to repurchase the borrowed GLD shares down the road and return them to the lender?
These guys are addressing one problem at a time.
Yes they will need to repurchase and return the shares.
But the banks need their gold fix now.
IMO, most of the gold in GLD has been already sold and the remainder used as collateral. The shoeshine boys who think that they own gold or silver in an ETF will be sadly mistaken when the rubber hits the road.
As I recall, two of the biggest crooks and enemies of humanity on the planet run this scam, Larry the Fink and Jamie Demon.
There's a website called goldensextant.com which has an analysis of the legalese behing GLD. it's called "musings on the realm of GLD".
A little excerpt:
" 8.1 SUB-CUSTODIANS: We may select Sub-Custodians to perform any of our duties under this agreement including the custody and safekeeping of Bullion. The Sub-Custodians we select may themselves select subcustodians to perform their duties, but such subcustodians shall not by such selection or otherwise be, or be considered to be, a Sub-Custodian as such term is used herein. We will use reasonable care in selecting any Sub-Custodian. [Emphasis supplied.]
In other words, the Custodian had the right to appoint subcustodians to hold the gold, who in turn could appoint sub-subcustodians, but the Custodian did not have the obligation, or in some cases even the right, to follow up or supervise. Aside from the Custodian’s obligation to use commercially reasonable efforts to obtain delivery of gold held by subcustodians when necessary, the Custodian would not be liable for the acts or omissions, or for the solvency, of any subcustodian it selected, unless it had acted negligently or in bad faith."
Management summary: a complete scam.
Thank you for posting this! Not that I ever had any intention of investing in an ETF, but it’s nice to know the specifics of how the scam operates.
I thought there were questions surrounding whether the GLD ETF had verified hand receipts (at least when GLD was launched) of their purported physical holdings.
These people just make it up as the go along. They are balancing on a thin wire over the abyss every day.
They kinda got used to it.
Some people compare what is happening with GOFO and the GLD lease rates with the runup to the Repocalypse in 2019 - when US Repo rates spiked over 10%, basically shutting down the Repo market.
We all know what happened next.
Gld is up $4 today.
Its turning out to be a useful way point for the realignment to gold.