The Department of Treasury has just been reported seeking to order survival kits for all of its employees who oversee the federal banking system. The procurement per se is nothing shocking. In this instance, the procurement is supposedly only for every employee at the Office of the Comptroller of the Currency (OCC). It was further stated that survival kits will be delivered to every major bank in the United States including Bank of America, American Express Bank, BMO Financial Corp., Capitol One Financial Corporation, Citigroup, Inc. The exclusive distribution to only members in the financial sector is rather intriguing. The year 2014 saw a succession of bankers “committing suicide” under strange circumstances. A bizarre suicide case involved a CEO shooting himself multiple times with a nail gun. It must be a painful death. Perhaps sending bankers for counseling may be more relevant. If bankers are intent on killing themselves, providing them with survival kits is sheer irony and waste of public funds. More appropriate may be “suicide kits” for bankers.
More intriguing developments are brewing in the financial services as financial fraud and misconduct are becoming their modus operandi. The symbiotic relationship between law-makers and bankers can no longer be separated. When one dies, so will the other. The only question is who goes first. If neither, the last resort is to go for broke using MAD (Mutually Assured Destruction”. And this may well explain the procurement of survival kits.
TF Metals Report:
With little fanfare or notice, the CME Group has notified the CFTC that they plan to institute trading collars for Comex precious metals trading. At present, these collars are planned to go into effect on Monday, December 22.
Trading collars or “limits” are certainly not out of the ordinary. In the commodity markets, they have long been in place to limit the daily fluctuations of the grains. In S&P futures, collars have existed for years, brought about in large part by The Crash of 1987.
However, introducing these bands for the precious metals is completely new, as far as I can tell. And you’ll note that these collars are only being implemented now, with prices at their bottoms. Wouldn’t it have been nice to have trading collars in place back on May 1, 2011 or April 15, 2013?
I guess, ultimately, that leads us to the main question:
And he cast down the pieces of silver in the temple, and departed, and went and hanged himself.