reply to post by beebs
I agree with him that we need to change the system. We need to support ideas such as public banking, which Ellen Brown is advocating.
But I disagree with him that this push is futile.
Originally posted by GirlGenius
Is Ellen Brown talking about state banking, like South Dakota? The state bank idea is an excellent one and easy to implement. We have a good model in South Dakota.
12/08/10 Laguna Beach, California – There’s a lot of rumor, buzz, innuendo, chitchat and scuttlebutt about the precious metals markets these days. Most of the chitchat is about J.P. Morgan and silver.
Rumor has it that J.P. Morgan has amassed a whopping short position in silver. The scuttlebutt, according to SFGate.com, is that “J.P. Morgan holds a giant short position in silver. Furthermore, some observers are accusing the bank of acting as an agent for the Federal Reserve in the market…I.e., a lower silver price helps maintain the relative appeal of the US dollar… “By selling massive amounts of paper silver in the futures market,” SFGate continues, “J.P. Morgan has been able to suppress the price of the precious metal. It is believed that these short positions are naked (i.e. they are not backed by any physical silver).”
JP Morgan Admits To, Reduces Massive Silver Short Position, Proves Millions Of Conspiracy Theorists Correct
In the latest example that virtually every conspiracy theory is almost always inevitably proven to be fact, the Financial Times reports that JP Morgan, the firm targeted by thousands of "tin foil hat" wearing, conspiratorially-oriented "gold bugs", has cut back on its US silver futures. "JPMorgan has quietly reduced a large position in the US silver futures market which had been at the centre of a controversy about its impact on global prices for the precious metal."....
And in what can only be considered an unprecedented victory for all those who have over the past year agitated to putting JP Morgan out of business, most recently spearheded by the likes of Mike Krieger and Max Keiser, by forcing a massive short squeeze on its commodities trading desk, we learn that "the decision by JPMorgan was an attempt to deflect public criticism of the bank’s dealings in silver, a person familiar with the matter said.