Bitpesa.co enables digital currency transactions via phone in Kenya

Cryptocurrencies are taking off in Africa and are used instead of traditional banking services, which might not exist in certain areas.  Here is an insightful interview by Max Keiser with Bitpesa.co CEO Elizabeth Rosiella on how their service allows Kenyans to transfer digital money via their phones. Bitpesa will save Africans money in remittance payments (money sent back home from overseas). Banks charge upwards of 19.8% and Western Union and Moneygram charge as much as 9.2%. The fee is only 3% and is planning to use bitcoin as part of the backbone and transaction mechanism of its service.
Scroll to 13:30 minutes thereabouts for the interview.

Why does Gerald Celente call the Swiss the "money cockroaches" of the world?

Excerpt from PressTV interview: 'Banksters in control of economy'

Hint: Closed captioning is available via the CC button on the video

JP Morgan on the Ropes?

Recently there have been lawsuits filed concerning illegal silver manipulation by JP Morgan and HSBC, which do seem to have quite a bit of merit. [1]  CFTC Commissioner Bart Chilton bravely admits that silver manipulation exists and transgressions should indeed be prosecuted as per his quoted statement:

"There have been fraudulent efforts to persuade and deviously control that price. Any such violation of the law in this regard should be prosecuted." [2]

There is also a grassroots movement recently started by Max Keiser, former Wall Street broker, now media presenter encouraging everyone to buy an ounce of silver to bankrupt JP Morgan, which is suspected to have a large short position on the precious metal in the form of paper derivatives. [3,4]  Jason Hommel of the Silver Stock Report estimates the short position to be 25%-50% of the $200 billion total bank short position based on the price of silver when it was $15/ounce. [5]  JP Morgan is the steward of the popular silver bullion ETF SLV.  Considering the bank's high ethical standards, the soundness of the ETF is in question and there is high default risk in terms of the bank not being able to provide delivery of all physical silver to investors as required, which amounts to an equivalent additional short position. [6]  Other downside risks are that JP Morgan is also embroiled in the foreclosuregate scandal (fraudulent affidavits presented in court for foreclosures based on robosigning and the inability by banks to present the actual investment note/holder for properties during foreclosure proceedings) along with the other major banks and has by far the largest credit derivatives exposure of them all. [7]  Obviously all of these factors combined are a ticking timebomb ready to explode and present a compelling short opportunity against JPM.

[1] J.P. Morgan, HSBC sued for silver manipulation David Benoit, MarketWatch
[2] CFTC Chairman Bart Chilton: Silver has been subject to attempted manipulation gold-speculator.com
[3] Crash JP Morgan Buy Silver! Max Keiser
[4] The Max Keiser Takedown of JP Morgan Saman Mohammadi, OpEdNews.com
[5] To the Top Shareholders of JP Morgan (Your company is bankrupt in terms of silver!) Jason Hommel, Silver Stock Report
[6] Silver bullion-ETF close to DEFAULT? bullionbullscanada.com
[7] Janet Tavakoli Interview on ETF Digest on Bank Foreclosure Fraud

Janet Tavakoli on Bank Foreclosure Fraud from David Fry on Vimeo.

Flash Crash Revisited

The SEC blaming the flash crash on traders being "spooked" by Waddell and Reed Financial Inc.'s over-sized E-mini S&P500 Futures trades (as reported by Bloomberg and pointed out to be total BS by ZeroHedge) seems to lack any credibility.  On the opposite end of the spectrum, Max Keiser, former options trader and banker believes the flash crash was engineered by banksters to extort a favorable outcome on finreg from Congress.  Which version is really true, or does the truth lie somewhere in between these opposite extremes?  Here is Max Keiser's interview with Alex Jones where he expresses his view that the flash crash was "financial terrorism" in his words: