gunDriller
10th May 2010, 07:54 AM
Well, our less-than-esteemed semi-elected officials have set up another currency swap, which happens to have the same calendar date - for expiration - as the LAST currency swap.
During the height of the credit crisis, the US Gov. set up a bunch of currency swaps with other countries. When they came due on Feb. 01, it created a huge demand for US$ - and, with JPMorgan's market manipulating help, another buying opportunity for Precious Metal buyers.
As related by Andrew Maguire, the Whistleblower who specifically described JPMorgan & HSBC's market manipulation for this exact time period, JPMorgan picked this time period to try & hammer down the prices of gold and silver.
http://kingworldnews.com/kingworldnews/Broadcast/Entries/2010/3/30_Andrew_Maguire_&_Adrian_Douglass_files/Andrew%20Maguire%203%3A30%3A2010.mp3
http://www.zerohedge.com/article/whistleblower-exposes-jp-morgans-silver-manipulation-scheme
part of Andrew Maguire's email -
"Dear Mr. Ramirez,
Thanks for your response.
Thought it may be helpful to your investigation if I gave you the heads up for a manipulative event signaled for Friday, 5th Feb. The non-farm payrolls number will be announced at 8.30 ET. There will be one of two scenarios occurring, and both will result in silver (and gold) being taken down with a wave of short selling designed to take out obvious support levels and trip stops below."
So it wasn't JUST currency swaps expiring.
But anyway, they're doing it again -
http://www.bloomberg.com/apps/news?pid=20601087&sid=amiI5qIW8gDI&pos=5
"Fed Restarts Currency Swaps as EU Debt Crisis Flares"
"The swaps were authorized through January 2011."
Therefore, I would say, keep an eye out for buying opportunities the end of Jan./ beginning of Feb. 2011.
The way the currency swaps work - the US kicks in a bunch of fiat money, and exchanges fiat money with other nations. At the swap expiration, accounts are supposed to be settled. But, the nations that got bailed out haven't just been sitting on the money - they spent it. If they didn't need it, they wouldn't have gotten on the money in the first place.
Somehow, in the mad rush to pay off Uncle Sammy Shylock, the relative value of the US $ goes up.
Of course, this time around, EU & Greece could default on Jan. 31, 2011, and we could have a different outcome.
I don't know why they pick the same calendar day for currency swap expiration but they did.
During the height of the credit crisis, the US Gov. set up a bunch of currency swaps with other countries. When they came due on Feb. 01, it created a huge demand for US$ - and, with JPMorgan's market manipulating help, another buying opportunity for Precious Metal buyers.
As related by Andrew Maguire, the Whistleblower who specifically described JPMorgan & HSBC's market manipulation for this exact time period, JPMorgan picked this time period to try & hammer down the prices of gold and silver.
http://kingworldnews.com/kingworldnews/Broadcast/Entries/2010/3/30_Andrew_Maguire_&_Adrian_Douglass_files/Andrew%20Maguire%203%3A30%3A2010.mp3
http://www.zerohedge.com/article/whistleblower-exposes-jp-morgans-silver-manipulation-scheme
part of Andrew Maguire's email -
"Dear Mr. Ramirez,
Thanks for your response.
Thought it may be helpful to your investigation if I gave you the heads up for a manipulative event signaled for Friday, 5th Feb. The non-farm payrolls number will be announced at 8.30 ET. There will be one of two scenarios occurring, and both will result in silver (and gold) being taken down with a wave of short selling designed to take out obvious support levels and trip stops below."
So it wasn't JUST currency swaps expiring.
But anyway, they're doing it again -
http://www.bloomberg.com/apps/news?pid=20601087&sid=amiI5qIW8gDI&pos=5
"Fed Restarts Currency Swaps as EU Debt Crisis Flares"
"The swaps were authorized through January 2011."
Therefore, I would say, keep an eye out for buying opportunities the end of Jan./ beginning of Feb. 2011.
The way the currency swaps work - the US kicks in a bunch of fiat money, and exchanges fiat money with other nations. At the swap expiration, accounts are supposed to be settled. But, the nations that got bailed out haven't just been sitting on the money - they spent it. If they didn't need it, they wouldn't have gotten on the money in the first place.
Somehow, in the mad rush to pay off Uncle Sammy Shylock, the relative value of the US $ goes up.
Of course, this time around, EU & Greece could default on Jan. 31, 2011, and we could have a different outcome.
I don't know why they pick the same calendar day for currency swap expiration but they did.