Firing of S&P CEO signals Gold to Soar

Washington’s desperation to contain the inevitable fall of the U.S. dollar reared its ugly head once again yesterday, as the CEO of Standard & Poor’s Deven Sharma was fired as the rating agency’s head, and serves as a warning to others that this could happen to you for telling the truth.

Like NY Attorney General Elliot Spitzer, IMF Chief Dominique Straus-Kahn, and a number of U.S.-installed North African and Middle East dictators, Sharma (presumably a clean guy) has become the latest casualty in the war for preserving U.S. dollar hegemony.

Plausible reasons for Sharma’s departure surely will be forthcoming.  But the truth of Sharma’s departure is most likely due to his reluctance to contribute  further to the coverup of the U.S. debt Ponzi scheme now reaching the critical collapse stage.

Essentially, theft of property (beyond income and property taxes as well as fees and fines levied above the true cost to government) by overt force, or though currency chicanery, is a war on the American people and its overseas creditors.  And when a citizen of the U.S. is deprived of his livelihood for the sake of continuing the deception of U.S. profligacy and phony wars built upon the dollar’s primary reserve status, he becomes a casualty of that war.

Experience proves that the man who obstructs a war in which his nation is engaged, no matter whether right or wrong, occupies no enviable place in life or history.

—Ulysses S. Grant

No one will remember Sharma for seeking to right S&P’s shameful record.  Unlike Rep. Ron Paul, Sharma can be fired.  There’s no need to unleash the FBI to set up the target with criminal activity, or export inflation to poor countries in an effort to depose unneeded U.S. dictators through the guise of a “democratic” revolution; just fire the guy to let others know what happens to “snitches.”

Arguably, Sharma may have gotten off easily from the mob this time; he could have fallen victim to the “whistle blower” Andrew Maguire botched automobile hit-and-run job, which was executed within mere hours of his testimony about the JP Morgan gold and silver manipulation scheme at a CFTC hearing earlier this year.

So what does the Sharma story have to do with the price of gold?  Everything.

Sharma’s abrupt dismissal underscores the underlying ruthlessness of a U.S. government, taking its rogue operations to the next level—in the open, for everyone to see—which will serve as a warning to others on the “good guys” side  who dare come clean on the merits of escalating the war on American citizens and U.S. creditors.

But when the “bad guys” expose the truth, mom-and-pop-front-porch won’t take it seriously.  After all, he is the bad guy, you know.  Besides, taking on Libya’s Gaddafi is one thing.  Taking on Russia’s Putin is another.

“Thank God … we do not print the reserve currency. But what are they stirring up? They are simply acting like hooligans,” Putin said in Moscow in mid-July regarding the Fed’s quantitative easing programs.

“They turn on the printing presses and fling them (dollars) over the entire world to resolve their immediate tasks,” he added.  “They say monopolies are bad but only if they are foreign — their own are good. So they use their monopoly on printing money to the full.”

The only way the dollar can be debased in an orderly manner is for investors holding the dollar to continue believing it still will maintain its value (relative to other debauched currencies, of course), which is the point of Putin’s comment when he said “to resolve their immediate tasks,” and the point S&P’s Sharma made by downgrading U.S. sovereign debt.

Angering the world’s leaders through sadistic methods of currency devaluations, and firing of a man who shouts, “the emperor has no clothes” in plain view of the world, smells of desperation in Washington.  The firing of Shama is another signal of a gold and silver market very near hyperbolic moves—moves that hard-money advocates have been forecasting for as far back as 10 years ago.

The last time U.S. policymakers ticked off world leaders through reckless monetary and fiscal policy to the extent they have done so since 2008 was during the 60′s and the Vietnam War.  And we know what happened to the dollar relative to gold during the 70s.

Back then, it was French President Charles de Gaul who led the charge on Ft. Knox in an attempt to rein back reckless U.S. spending and dollar devaluations.  Today, with the blatant disregard for the leadership role the U.S. has taken on as the administrator of the world’s premiere reserve currency, it appears that Venezuela President Hugo Chavez will attempt to fill the size-15 shoes of the great de Gaul, while S&P’s Deven Sharma takes the bullet for the American people and its foreign creditors.

27 thoughts on “Firing of S&P CEO signals Gold to Soar

  1. Give me a break.  S&P miscalculated the US’ financial situation by more than a trillion dollars (as mistake that alone should get a CEO fired) and then proceeded to downgrade the country despite a better (albeit, not great) financial situation than what faces many other AAA rated countries.

    Stop trying to hock your overpriced gold you scare monger!

  2. This article is really not good. First of all the CEO was with a public company so I gather he has been fired by the company and not by the U.S. gov’t. Secondly, there are many reasons that he may have been fired and you never list or discuss any other reason other than your fancy conspiracy theory. Perhaps it was improper or unethical handling of the downgrade, ie proceeding with it despite the mathmatical error or possible insider trading around it. Honestly, this is a pretty irritating article.

    • devils advocate
      Scene in the “Godfather”
      Kate “Michael don’t be naive Senators don’t have people killed”
      Michael “Kate who’s being naive?”

      • That’s exactly right.  The peaceful sheep don’t need to be bothered with the realities of the world.

  3. The Andrew Maguire hit-and-run incident occurred on March 26, 2010, not ‘earlier this year’

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  5. The american government’s “rogue operations” have worked pretty well thus far. It’s getting a bit shaky in washington, but give it a few years and that city will get back on track.

  6. “This newsletter is a paid advertisement”

    What the heck is this stuff doing in Googles ‘Top News’?

  7. This rhetorical volley is firing in all directions at once. What the author may mean to say is that fiscally incompetent governments eventually create the only automatic solution to an over-leveraged world economy, currency debasement.

  8. I don’t trust anyone that’s named ” Dominique “.

    Piss poor article.  Meanwhile Putin and Russia have been buying US Treas. like mad.

  9. I’m not sure about fired. Maybe, it is just damage control. I guess he voluntarily stepped down. I don’t like the replacement though. He is a former bank executive. He will pump and hype up the financial stocks. I want somebody neutral who will honestly guide us.

  10. Your a joke, as is this article. His firing will be mostly due to S&P miss-rating CMO’s and the ensuing lawsuits they now face. You should focus on facts not theories. If an ignorant mind is even capable of doing so…

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  12. Ridiculous article. I stopped reading after the first couple paragraphs. Doesn’t anyone know how to report objectively anymore? Anyone who is still pushing gold at this price is part of the problem. How shit articles like this appear on google, I have no idea.

  13. I imagine that all you who trust the gov’t believe in “peak oil” and deny that the 3-4 billion barrels of oil in the Bakken Reserve really exists.

    I bet those fashionable Wall Street blinders are gold plated and have rose colored lenses.

    How about the article claiming that the “food stamp stimulus” (….oh my God, the really expect us to believe that food stamps are an economic stimulus…?) is an unsustainable program with so many people now receiving food stamps.

    While I am turning my paper into hard assets, you fools go ahead and ignore what you see. But maybe in your gilded world you don’t see what is happening.


  14. There’s some truth here within the author’s strong intrinsic bias.  Glad there’s no such chicanery between France and Libya.  Dread is the irreconcilably difference between what is and what ought to be.

  15. Hello everybody,

    From outside It seems that
    your country politicians have got infected with greed, lack of
    foresight, infestation of your government posts by moles to sabotage
    your economy.

    For our country and the entire world
    economy it will be better that your country find some good team of
    politicians who are expert in politics, economics, management, history,
    moral values, ethics and are fearless, brave and truth seeking.

    & Poor’s CEO Deven Sharma had dared to give his honest warning
    because he feels concerned about your country which has given so much to
    him even though he must have known or anticipated about severe

    He is not saying anything wrong. You go to studyroom and
    carefully study all reputed american author books about economics and
    then you will realize the truth.

    It will be better if your country
    will wake up as early as possible otherwise it will be sold out part by
    part to chinese the way it is already happening at smaller scale.

    Please remember that a strong America is in India’s interest and the whole world.

    If China’s premier says that America should self correct flaws in its economic system then it should be taken seriously. Why on earth world’s most powerful person, i.e., China’s premier say such a remark without thinking about or without having sufficient supporting data.

    With best wishes,

    A friend from India

  16. Pingback: The Ratings Agencies, Part II: Fiduciary Duty : The Implode-o-Meter Blog

  17. So, where was Deven Sharma in 2002 when S&P was assigning AAA ratings to Goldman’s poisonous CDOs?  You don’t suppose that might have something to do with his exit, do you?

    • hello everybody,
      I used this website for posting comments because it was not requiring e.-mail i.d. for doing so. I saw so many very dirty and hate filled anti India comments at so many other websites which were asking e.-mail i.d. for posting comments.  They were using Standards and Poor’s CEO firing as an excuse to post very dirty anti India comments. So instead of making a fake e.-mail account for posting pro India comment I chose this website which is providing platform for posting comments in an anonymous condition. But it seems that now this website also require e.-mail I.d. for posting comments. I am posting it through a fake e.-mail i.d.

      But now it seems this I.P. address is being tracked as if i have posted very dangerous comment on this website.

      I am not an expert in economics or commerce or politics but I know that I am not supposed to post any hate messages against any particular person without any concrete evidence.

      I have very basic idea about politics through news papers, news channels, etc. Based upon that only I had typed my message.

      I hope so that I have not harmed anybody’s interests.

      May God bless everyone.

      With best wishes,

      A friend from India