The Doc sat down with T. Ferguson from TFMetals Report and AltInvestment’s Rahul Wednesday for a round table discussion on the gold and silver markets.
We discussed whether the gold and silver markets have placed a bottom, signs of physical silver shortage, and the potential implications of the discovery of JP Morgan’s secret London gold vault.
Full interview is below:
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All…If you care to take the deep dive into central banking, gold flows and the end game, digest the following. Warning-this is advance PhD level material. It’s not for everyone.
http://fofoa.blogspot.com/2013/02/checkmate.html#comment-form
In the second case decided Wednesday, Gabelli v. Securities and Exchange Commission, No. 11-1274, the court ruled unanimously that the commission must act promptly when it seeks civil penalties.
The case concerned Marc J. Gabelli and Bruce Alpert, who were executives affiliated with a mutual fund company, Gabelli Funds L.L.C. They successfully argued that the S.E.C. had waited too long to sue them for what the agency said were abuses related to rapid trading by a hedge fund.
The law in question, which applies to many kinds of government requests for civil penalties, says lawsuits “shall not be entertained unless commenced within five years from the date when the claim first accrued.” The agency sued more than five years after the disputed conduct.
“The question,” Chief Justice Roberts wrote for the court, “is whether the five-year clock begins to tick when the fraud is complete or when the fraud is discovered.”
In ordinary civil litigation, it is not unusual for courts to say that the clock starts running in fraud cases only when the plaintiff discovers or should have discovered the wrongdoing. That is because of the nature of fraud, Chief Justice Roberts explained.
“When the injury is self-concealing, private parties may be unaware that they have been harmed,” he wrote. “Most of us do not live in a state of constant investigation; absent any reason to think we have been injured, we do not typically spend our days looking for evidence that we were lied to or defrauded.”
But the government, the chief justice wrote, is different.
Investigation is a central mission of the commission, he said, and it has the tools to ferret out fraud. And allowing the government unlimited time would raise a host of practical problems, he added.
“It would leave defendants exposed to government enforcement action not only for five years after their misdeeds, but for an additional uncertain period into the future,” Chief Justice Roberts wrote. “Repose would hinge on speculation about what the government knew, when it knew it and when it should have known it.”
When the SEC is bought and paid for they just sit and wait for the statue of limitations to pass by.
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Wasnt this the guy saying we would not fall through 30? We get a new bottom every month from the “experts”. We are working on 2 years of downward momentum. Instead of always looking back to the $50 days wouldnt it be better to change the tone of the articles and interviews. I think that is why Mike Maloney is doing so well. He only pushes the fiat vs PM route, never mentions manipulation, JPM or conspiracy theories.