THE GREAT BAMBOOZLE: Selling Garbage For a Premium
By Steve St. Angelo, SRSrocco Report
GoldSeek.com
Monday, 3 June 2013
There is something very strange taking place in the financial markets presently. Main Stream Media has actually convinced the majority of investors in the west that gold is now in a bear market while the real value is found investing in stocks and bonds. It’s one thing to invest in equities or treasuries when they are undervalued, but to promote these assets when they have become the biggest bubble in history… is quite insane.
On the other hand, gold and silver prices have been severely beaten down and are now extremely undervalued. This is actually right the time to be buying precious metals while exiting positions in stocks and bonds. However, the exact opposite is taking place in the west as investors dump precious metal contracts and purchase overpriced equities. Furthermore, hedge funds now hold the highest number of gold short positions ever.
So, the question remains, how on earth can gold and silver be selling off when the broader markets are in a massive bubble and the rest of the financial world is a compete mess? There’s a simple answer.
Banks Selling Garbage for a Premium
Ever since the collapse of the Real Estate Market, Investment Banks and Government Sponsored Entities in 2008, the financial system has not grown stronger as the Fed and the Treasury would like the public to believe. On the contrary, the U.S. banking system today is much weaker than ever and is behaving more like the walking dead — basically Zombie banks sucking life out of the system.
So, if these banks are waking zombies, how were some of them able to state record profits in the first quarter of 2013? This was accomplished by the two following methods:
1) They list junk on the balance sheet as assets
2) They trade and sell garbage for a premium
The Rest…HERE
