Global Banks Massive Criminal Conspiracy In The Gold Market !
- Global Banks Massive Criminal Conspiracy In The Gold Market!
by www.kingworldnews.com
Today one of the savviest and well connected hedge fund managers in the world told King World News that global banks are involved in a criminal conspiracy in the gold market. Outspoken Hong Kong hedge fund manager William Kaye also spoke with King World News about what is really taking place behind the scenes in the war on gold. Kaye, who 25 years ago worked for Goldman Sachs in mergers and acquisitions, had this to say in part II of an extraordinary written interview series which will be released today.
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Kaye: “The paper gold price has been driven well down. We’re nowhere close to when gold peaked above $1,900. We’re in the low $1,400s as I speak now, Eric.
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So price has gone down, but what about volume (in gold)? Well, I can tell you that volumes in China year over year are up four to five times. I can tell you that volumes in Thailand, a similar amount (to China, up four to five times).
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Volumes in India, despite an increase in taxes, and despite the fact they are making it more difficult for average people in India to acquire gold, all of the dealers that we talk to who deal into India tell us it’s the same experience as China. It’s up four to five times….
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Dr. Paul Craig Roberts: Gangster State America!
- Dr. Paul Craig Roberts: Gangster State America!
by http://www.paulcraigroberts.org/
There are many signs of gangster state America. One is the collusion between federal authorities and banksters in a criminal conspiracy to rig the markets for gold and silver.
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My explanation that the sudden appearance of an unprecedented 400 ton short sale of gold on the COMEX in April was a manipulation designed to protect the dollar from the Federal Reserve’s quantitative easing policy has found acceptance among gold investors and hedge fund managers.
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The sale was a naked short. The seller had no gold to sell. COMEX reported having gold only equal to about half of the short sale in its vaults, and not all of that was available for delivery. No one but the Federal Reserve could have placed such an order, and the order came from one of the Fed’s bullion banks, one of the entities “too big to fail.”
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Bill Kaye of the Greater Asian Hedge Fund in Hong Kong and Dave Kranzler of Golden Returns Capital have filled in the details of how the manipulation worked. Being sophisticated investors of many years of experience, both Kaye and Kranzler understand that the financial press runs with the authorized story planted to serve the agenda that has been put into play.
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Institutional investors who have bullion in their portfolio do not want the expense associated with storing it securely. Instead, they buy into Exchange Traded Funds (ETF) and hold their bullion in the form of a paper claim. The largest, the SPDR Gold Trust or GLD, trades on the New York Stock Exchange. The trustee and custodian is a bankster, and only other banksters are able to turn investments into delivery of physical bullion. Only shares in the amount of 100,000 can be redeemed in gold.
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The price of bullion is not set in the physical market where individuals take delivery of bullion purchases. It is set in the paper futures market where short selling can drive down the price even if the demand for physical possession is rising. The paper gold market is also the market in which people speculate and leverage their positions, place stop-loss orders, and are subject to margin calls.
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When the enormous naked shorts hit the COMEX, stop-loss orders were triggered adding to the sales, and margin calls forced more sales. Investors who were not in on the manipulation lost a lot of money.
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The sales of GLD shares are accumulated by the banksters in 100,000 lots and presented to GLD for redemption in gold acquired at the driven down price.
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The short sale is leveraged by the stop-loss triggers and margin calls, and results in a profit for the banksters who placed the short sell order. The banksters then profit again as they sell the released gold into the physical market, especially in Asia, where demand has been stimulated by the sharp drop in bullion price and by the loss of confidence in fiat currency. Asian prices are usually at a higher premium above the spot prices in New York-London.
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Some readers have said “don’t bet against the Federal Reserve; the manipulation can go on forever.” But can it? As the ETFs such as GLD are drained of gold, their ability to cover any of their obligations to investors diminishes. In my opinion, these ETFs are like a fractional reserve banking system. The claims on gold exceed the amount of gold in the trusts. When the ETFs are looted of their gold by the banksters, the gold price will explode, as the claims on gold will greatly exceed the supply.
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Kranzler reports that the current June futures contracts are 12.5 times the amount of deliverable gold. If more than 8 percent of these trades were to demand delivery, COMEX would default. That such a situation is possible indicates the total failure of federal financial regulation.
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What the Federal Reserve has done in order to maintain its short-run policy of protecting the “banks too big too fail” is to make the inevitable reckoning more costly for the US economy.
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Another irony is the benefactors of the banksters sale of the gold leeched from the gold ETFs. Asia is the beneficiary, especially India and China. The “get out of gold line” of the US financial press enables China to unload its excess supply of dollars, accumulated from the offshored US economy, into the gold market at a suppressed price of gold.
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Kranzler points out that not only does the Fed’s manipulation permit Asia to offload US dollars for gold at low prices, but the obvious lack of confidence in the dollar that the manipulation demonstrates has caused wealthy European families to demand delivery of their gold holdings at bullion banks (the bullion banks are essentially the “banks too big to fail”). Kranzler notes that since January 1, more than 400 tons of gold have been drained from COMEX and gold ETF holdings in order to satisfy world demand for physical possession of bullion.
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Again we see that institutions of the US government are acting 100% against the interests of US citizens. Just who does the US government represent?
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Chinese Incursion Leaves India on Verge of Crisis!

In war, truth is the first casualty! Be careful of propaganda and fictitious stories! Illuminist social engineers are fomenting war between India and China. Cui Bono? The Western Illuminati! Click on image for article
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China Invades India: Tensions Mount as Platoon of Soldiers Slip Across Border to Claim Disputed Territory?!

Activists of India’s right-wing Shiv Sena, shout anti-China slogans and burn a Chinese flag during a protest against an alleged Chinese incursion. India says Chinese troops set up a camp on its side of the ill-defined frontier in Ladakh region
- The first casualty of war is always truth! This piece by the Daily Mail UK is largely propaganda IMO. What does China gain? The Anglo-American western Illuminati is fomenting war against China. These snakes are prepared to lose 100 major cities to a nuclear war just to protect their global monetary hegemony! It is via their control of the privately owned Illuminist central banking cartel, SWIFT system, the fiat currency hegemony that they rule the world. Without it, their Mammon power will end. China is the biggest threat to them! The article below is really a psyop against the Indian sheeple to deceive them into supporting a war with China.
- - Having said this. I am in no way pro-China. Neither do I think any invasion into Indian territory is acceptable. I just don’t believe that the confrontation by Japan-China over the Senkaku-DiaoYu islands, the Spratly islands dispute between Vietnam-China (and the Paracel islands) and this latest India-China incident, are accidents. They are an alignment of forces against China to trigger the Greater Asia War by the western Illuminati. IMO, both the western Illuminati, Russian and Chinese Illuminati have agreed to the coming Satanic World War 3! Simply put: the Illuminists-Satanists are setting up the Japanese, Indian, Vietnamese, Chinese, Russian … sheeple to kill each other. Whichever sides win (western Illuminati or Russian/Chinese Illuminati), gets to be the top lieutenant when the Man of Sin comes!
- - China invades India: Tensions mount as platoon of soldiers slip across border to claim disputed territory!
by Daily Mail Reporter
- Chinese troops set up camp in Ladakh region in middle of April, it’s claimed
- Slipped across the boundary into India in middle of night, India says
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A two week Chinese incursion has left India on the verge of crises, it has today been reported. India says Chinese troops set up a camp on its side of the ill-defined frontier in Ladakh region in the middle of April. The platoon of Chinese soldiers slipped across the boundary into India in the middle of the night, according to Indian officials.
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They were ferried across the bitterly cold moonscape in Chinese army vehicles, then got out to traverse a dry creek bed with a helicopter hovering overhead for protection. They finally reached their destination and pitched a tent in the barren Depsang Valley in the Ladakh region, a symbolic claim of sovereignty deep inside Indian-held territory. So stealthy was the operation that India did not discover the incursion until a day later, Indian officials said.
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China denies any incursion, but Indian officials say that for two weeks, the soldiers have refused to move back over the so-called Line of Actual Control that divides Indian-ruled territory from Chinese-run land, leaving the government on the verge of a crisis with its powerful northeastern neighbor.
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Indian officials fear that if they react with force, the face-off could escalate into a battle with the feared People’s Liberation Army. But doing nothing would leave a Chinese outpost deep in territory India has ruled since independence.
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‘If they have come 19 kilometres into India, it is not a minor LAC violation. It is a deliberate military operation. And even as India protests, more tents have come up,’ said Sujit Dutta, a China specialist at the Jamia Milia Islamia university in New Delhi. ‘Clearly, the Chinese are testing India to see how far they can go,’ he said. That is not China’s stated view.
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‘China strictly complies with the treaty and documents on maintaining peace and stability in the border region between India and China,’ Chinese Foreign Ministry spokeswoman Hua Chunying said last week. ‘The Chinese patrol troops did not go across the Line of Actual Control, not by even one step,” she said.
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Local army commanders from both sides have held three meetings over the crisis, according to Indian officials. India’s foreign secretary called in the Chinese ambassador to register a strong protest.
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Physical Silver Demand Explodes in Mexico-More Silver Sold in Past 2 Weeks Than Entire Q1 !
- Physical Silver Demand Explodes in Mexico-More Silver Sold in Past 2 Weeks Than Entire Q1!
by http://silverdoctors.com/
I’m bringing this story as an exclusive to readers here : after the latest attacks on the gold and silver markets, physical demand for the famous one ounce silver “Libertad” has soared in Mexico. In January, February and March, the total Libertad sales by the Bank of Mexico was 46,714, 82,634 and 44,063 ounces, respectively. As of Wednesday April 23, Banxico had already sold more than 174,000 ounces this month!
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In other words, more silver was sold by the Bank of Mexico in just the first 23 days of April than were sold in the entire first three months of the year combined!
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Submitted by Guillermo Barba via Google Translate:
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Domestic savers are awakening from a long sleep well, prompting in 2012, it had unafuerte fall in demand for these coins,as we reported in January. After this “break” last year, Mexican investors are returning not to liquidate ounces, but to buy all they can.
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And according to data provided by the Bank of Mexico (Banxico) to this reporter, through official OFI006-8614 , on Wednesday April 23, they had already sold more than 174,000 ounces this month.
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In other words, more silver was sold in just the first 23 days in April than were sold in the entire first three months of the year combined, and most likely the majority of sales occurred during the last two weeks! In January, February and March, the total of these coins put into circulation was 46,714, 82,634 and 44,063, respectively.
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Why sell like hotcakes? Well, input silver Libertad coins are prices not seen since 2010, about 350 pesos each to date. A 40 percent cheaper than just two years ago in late April 2011, when they played their record over 610 pesos. Most of the banks offer their customers, but I suggest you compare prices before buying.
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The most important thing is to understand that the main reason that this demand has been fired, is that gold and silver are the ultimate safe havens, real money,which has been offering half of the economic crisis that is far from over in the world. It’s as if someone had put a lifeguard present sinking ship.
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It is gratifying that Mexico is not the exception to the rule, as in other parts of the planet is also experiencing this fever for physical precious metals. In the U.S., the Mint (U.S. Mint) had to cancel this week selling their coins tenth ounce of gold, then sold their stock. To date sales accumulated 203 000 500 ounces of gold, rather than the previous two months together and that total January.
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In a previous post, figured out how the World Gold Council (WGC, for its acronym in English), described as a “massive wave” the appetite of investors for monetary precious metals. Also how in China and India, the main consumers internationally, there are reports of high premiums, that is, cost overruns, that people are willing to pay just to get coins or bullion, on the other hand, are scarce in Dubai .
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Gold Bars in Dubai Disappear, Some at 750% Premiums!
- Gold bars in Dubai disappear, some at 750% premiums!
by Shivom Seth, http://www.mineweb.com/
The desire to own gold, as an investment and for jewellery purposes, has made itself felt in the physical market in India and in Dubai, where premiums are ruling at an all time high.
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To cash in on the investor frenzy, gold dealers in Dubai have raised their premiums to 750%, given the prevailing uncertainties over the global economy. Renowned for its role as the best place in the world to buy gold, Dubai has had an impromptu gold festival under way. The Dubai market is dominated by Indians.
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While some traders are selling gold bars at a premium of $50 per ounce, others are pushing mark ups as high as 750% above normal, say retailers. Most gold traders are reluctant to release more gold into the market as they expect prices to peak as demand increases. Right now, Dubai is facing a shortage of gold.
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After scaling an all time high of $1,924 per ounce in September 2011, the precious metal slid to $1,335 on April 16 – a decline of 30% from its peak. That has got shoppers in a frenzy in Dubai.
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The majority of shoppers queuing up in front of jewellery stores, mostly in the Meena Bazaar and the gold souk (market) areas in Dubai are Indians, with a sizeable segment hailing from Kerala. Dubai merchants say sales have jumped by 400% following the recent price plunge. The consumption pattern reflects typical Indian preferences.
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The majority of Indian consumers in Dubai do not prefer paper gold in the form of exchange traded funds (ETFs). Though gold coins and bars are amongst those items that are hot selling, the bulk of the purchasing since the prices fell has been in the form of jewellery.
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K.V. Shamsudheen, director, Barjeel Geogit Securities, a broking firm, says the sharp drop in prices has coincided with the marriage season in Kerala, in South India, that starts from June. “That is one of the significant contributory factors driving up demand,” he adds.
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Moreover, trading on the Dubai Gold and Commodities Exchange hit record volumes on April 16. The Exchange saw the highest ever overall daily trading value of $3.8 billion, with a record 103,126 contracts.
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China Has A ‘Voracious’ Appetite For Gold !
- Published on Apr 19, 2013
April 19 (Bloomberg) — Nigel Moffatt, treasurer at the Perth Mint, talks about the demand outlook for gold. Shoppers in China lined up for gold this week, while in Hong Kong they rushed to buy bracelets and in India sought jewelry for weddings not set until December. The metal’s biggest price drop in three decades provoked the clamor. Moffatt speaks with Zeb Eckert on Bloomberg Television’s “First Up.” (Source: Bloomberg)
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India’s Response To The Gold Sell Off: A Massive Buying Frenzy!
- India’s Response To The Gold Sell Off: A Massive Buying Frenzy!
by Tyler Durden, www.zerohedge.com
Panic, depression, rage, suicidal ideations: watching the US mainstream media, one would think that these are the prevailing sentiments among those who unlike the prevailing “developed world” speculative class, are invested most heavily in physical old – Indians, who collectively comprise the largest end-demand consumer segment for gold products. One would be very wrong.
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Because while apparently it is incomprehensible to the “sophisticated” financial crowd in the US that someone may have conviction in their beliefs, and not just lunge from extreme to another, merely riding momentum and technicals like so many “professional” investors, Indians are doing precisely what a buyer should do when the price of the desired product plunges: doubling down, literally.
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Bloomberg reports of the immediate aftermath to the past few days’ gold plunge: “Gold buyers in India, the world’s biggest consumer, are flocking to stores to buy jewelry and coins, betting a selloff that plunged bullion to a two-year low may be overdone.” Wait, so instead of jumping out off high buildings, Indians are being cool, calm and collected and… buying more? Unpossible. Do they not get CNBC in Mumbai? Apparently not: “My daughter is just six months old, but I think it is never too early to buy gold,” said Sharmila Shirodkar, a 28- year-old housewife, while displaying a new pair of earrings she bought from a store in Mumbai’s Zaveri Bazaar. “I had been asking my husband every day if prices will go down more. I couldn’t wait anymore.”Indeed – the buying frenzy in India has been unleashed:
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Is THIS the Real Reason Obama’s Confronting North Korea? Pivoting Toward Asia as China Eyes ‘New Economic World Order’!

060305-N-0490C-005 Atlantic Ocean (March 05, 2006) The Nimitz-class aircraft carrier USS Dwight D. Eisenhower (CVN 69), the Arleigh Burke-class destroyers USS Mason (DDG 87), USS Ramage (DDG 61) and the Ticonderoga-class cruiser USS Anzio (CG 68) sail in formation in the Atlantic Ocean. IKE and embarked Carrier Air Wing Seven, along with ships from the Eisenhower Strike Group, are underway conducting training for a future deployment. US Navy photo by Photographer’s Mate 2nd Class Angel Contreras
- Is THIS real reason Obama’s confronting North Korea?
by Aaron Klein, http://www.wnd.com/
Pivoting toward Asia as China eyes ‘new economic world order’
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JERUSALEM – Is the Obama administration’s military build up in the Pacific part of the president’s so-called pivot-toward-Asia strategy, a move that could demonstrate the biggest shift in world power since World War II?
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Specifically, is Washington using the North Korean nuclear standoff as an excuse to shift massive military might to Asia just as China and other powers seek to create a new economic order that would rival the Western-dominated World Bank and International Monetary Fund?
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It is difficult for most seasoned observers to explain why Obama is suddenly responding to North Korean aggression when the White House did little in 2008 when North Korea refused to allow United Nations inspectors into its nuclear plants.
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The Obama administration also took little action when North Korea in 2009 carried out at least two nuclear tests, one of which is believed to have been the cause of a magnitude 4.7 seismic event.
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The White House did not allow the U.S. military any significant response when in 2010 North Korea torpedoed a South Korean navy ship, killing 46 sailors. North Korea then shelled a South Korean island with little U.S. reaction.
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Now, purportedly in response to aggressive action by North Korea’s new leader, the White House is sending to Singapore a new class of warship designed to fight in coastal waters.
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The Pentagon also announced that it will deploy a missile defense system to the U.S. Pacific territory of Guam to strengthen regional protection against a possible attack. This after the Obama administration largely canceled a similar defense system intended for Europe.
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U.S. warplanes, including fighter jets, U-2 spy planes and an A-10 attack jet, were seen flying in South Korea yesterday as part of a massive joint military exercise.
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The U.S. says it stands “poised to respond” at the border of North and South Korea, where American troops are on high alert amid possible further Pentagon build-up in the region.
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U.S. military ‘rebalance’
Why is the U.S. now responding to North Korea?
Time magazine says the “U.S. pivot toward Asia – and the potential for confrontation with China – became a little more real this week with the arrival of a new class of warship designed to fight in coastal waters.”
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That pivot has been declared by the Obama administration itself – a professed strategy of putting a greater focus on the Asia region. Earlier this week, Defense Secretary Chuck Hagel “made clear the U.S. and the Department of Defense remain committed to the rebalance towards the Asia-Pacific region,” Pentagon spokesman George Little said after a meeting between Hagel and Singapore Prime Minister Lee Hsien Loong.
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Hagel told Loong that “in the future there will be even more opportunities for closer collaboration between the US and Singapore,” Little said.
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‘New economic world order’
The U.S. military shift comes as the so-called BRICS countries – Brazil, Russia, India, China and South Africa – seek to create a monetary system to rival and even surpass the West.
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While it received little U.S. media attention, last week at its fifth annual summit the BRICS group unveiled what it said was a new development bank aimed at breaking the monopoly held by Western-backed institutions.
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Mike Billington: Korean Crisis to Cause Global Thermonuclear War!
“We are in a global situation which is very very close to war! War between United States and Russia and United States and China! … It could very rapidly be not only a war in the Korean peninsula but a war on a global scale. A global thermonuclear war which has to be seen in the context of the greatest financial collapse now spreading across Europe and the United States! Which is what’s driving this push for war!”
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“The Obama administration is functioning as an asset of the City of London and Wall Street! Who are desperate! They’re panicked. The Cyprus situation … shows the level of panic in the western financial oligarchy! … They’re pushing for wars on a scale which has to be understood as the threat to the Russia, China allies, axis … It’s going for preventing the emergence of the Russia, China, India alliance which is the only combination of nations in the world which could offer an alternative to the totally bankrupt western financial system which is now committing acts of outright genocide … to prevent any alliance of those forces against them! They are willing to provoke regional wars which if the Russia, China, India axis does not back down. They’re willing to go to thermonuclear confrontation … “ - Mike Billington
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Korean crisis to cause global thermonuclear war: US expert!
by http://www.presstv.ir/
An American expert has warned of a global thermonuclear war due to the ongoing brinkmanship between the two Koreas, Press TV reports.
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Mike Billington said North Korea’s “extreme rhetoric” and South Korea’s “tit-for-tat response” are likely to trigger a “global thermonuclear war which has to be seen in the context of the greatest global financial collapse now spreading across Europe and the United States.”
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“If the North were to carry out another provocation as they have in the past by shelling an Island or something on that scale South Korea is totally capable and ready to respond with a fierce military response,” he told Press TV. On Wednesday, South Korea said it has contingency military plans to employ in case North Korea threatens the safety of South Korean citizens working in a joint industrial zone.
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“We have prepared a contingency plan, including possible military action, in case of a serious situation,” South Korean Defense Minister Kim Kwan-jin said.
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On April 1, South Korean President Park Guen-hye warned North Korea that any provocation would be met with a “strong response” after Pyongyang said it was in a “state of war” with the South. Pyongyang warned that any provocation by Seoul and Washington would trigger an “all-out nuclear war.”
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“We’re in a global situation which is very very close to war,” Billington warned. Seoul and Washington launched a week-long annual joint military maneuver near the Korean Peninsula despite warnings from Pyongyang On March 11. The maneuver involved 10,000 South Korean soldiers and about 3,000 US troops.
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North Korea responded on March 26 by saying that its military should be prepared to attack “all US military bases in the Asia-Pacific region, including the US mainland, Hawaii, and Guam” and South Korea.
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Four days later, Pyongyang announced that it is in a “state of war” with South Korea, warning that any provocation by Seoul and Washington could trigger an all-out nuclear war.
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On March 31, the US sent a guided-missile destroyer to the southwestern coast of the Korean Peninsula to ‘defend against a possible North Korean rocket launch.’
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BRICS Dumping Euro Amid Simmering EU Banking Crisis!
- BRICS dumping euro amid simmering EU banking crisis!
by Robert Bridge, RT, http://rt.com/
Brussels has been forced to eat a generous slice of humble pie: A massive sell-off of the euro is underway in the wake of a persistent financial crisis, as holdings in the European currency by emerging economies were slashed by almost 8 percent last year.
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Emerging economies – including Brazil, Russia, India, China and South Africa (BRICS) – are dumping the euro, having sold €45 billion of the currency in 2012, according to data gathered by the International Monetary Fund.
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The euro represents just 24 percent of their reserves, the lowest level since 2002 – the year when euro coins and banknotes first entered circulation – and down from a peak of 31 percent in 2009. At the same time, the euro’s share of total global reserves has also fallen. This change of fortune for the euro is blamed on several factors, including sovereign debt crises and rapid growth by BRICS nations.
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Last week, China and Brazil agreed to a $30-billion swap deal that would give each the ability to borrow the other’s currency in the event of future turbulence in the global financial system. The move undercuts the need to use the dollar as a reserve currency; given China’s increasing economic might, Beijing appears to be steadily promoting its national currency, the renminbi.
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The US dollar, which has been designated the world’s reserve currency since the Bretton Woods agreement in 1944, continues to hold ground at about 60 percent of emerging markets’ reserves.
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This ‘euro flight’ is disturbing news for Brussels and the eurozone: The euro’s challenge to the international status of the US dollar has been “set back a generation,” as new data show developing countries dumping the European currency from their official reserves, FT reported, citing IMF data.
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This retreat of the European currency, once heralded as a serious rival to the ubiquitous dollar, offers a shocking glimpse at the severity of Europe’s sovereign debt crisis, which recently saw Cyprus take the unprecedented step of penalizing wealthy bank depositors in order to avoid bankruptcy.
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“It’ll be the number-two international currency, but I wouldn’t say there are any prospects of it challenging the dollar,” Jeffrey Frankel, professor of economics at Harvard’s Kennedy School of Government told FT.
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Globalist Genocide in India Exposed !
- Published on Mar 8, 2013
Medical experts in paediatrics in the country have lambasted the World Health Organisation (WHO) and the Bill Gates Foundation for trumpeting India’s polio eradication campaign which they knew 10 years back that it was never going to succeed. ‘India was taken off the list of polio-endemic countries by the WHO on January 12, 2012 but the polio eradication campaign will have to be continued in some format for ever. The long promised monetary benefits from ceasing to vaccinate against poliovirus will never be achieved’, the well known paediatricians said.
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“It was unethical for WHO and Bill Gates to flog this programme when they knew 10 years back that it was never to succeed. Getting poor countries to expend their scarce resources on an impossible dream over the last 10 years was unethical,” said Dr Neetu Vashisht and Dr Jacob Puliyel of the Department of Paediatrics at St Stephens Hospital in Delhi in their report in the April issue of ‘Indian Journal of Medical Ethics’.
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January 12, 2012, marked a significant milestone for India as it was the first anniversary of the last reported wild polio case from India. The two doctors noted that it was long known to the scientific community that eradication of polio was impossible because scientists had synthesized poliovirus in a test-tube as early as in 2002. “The sequence of its genome is known and modern biotechnology allows it to be resurrected at any time in the lab,” they said and added, “Man can thus never let down his guard against poliovirus.”
http://pharmabiz.com/NewsDetails.aspx…
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Bill Gates really didn’t want to be confronted on how a vaccine linked to the Gates Foundation paralyzed some 47,500 children in India, but Infowars reporter Melissa Melton asked him about it anyway.
http://www.infowars.com/infowars-conf…
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John Hathaway: Give-Up Phase As Gartman Shorting Gold Is Bullish!
- Hathaway – Give-Up Phase As Gartman Shorting Gold Is Bullish!
by www.kingworldnews.com
Today John Hathaway told King World News, “… we are psychologically at the give-up phase on gold.” The 40-year veteran and prolific manager of the Tocqueville Gold Fund also stated that Dennis Gartman announcing he shorted gold yesterday is a very bullish development for the gold market. But first, here is what Hathaway said to expect next for gold: “Eric, this feels to me like last May when gold had a launch into September to complete a pretty big rally. It was a more than a 40% kind of move on the XAU. All of the things I look at, sentiment, trading volume, commentary, you know Credit Suisse put that piece out about the end of the bull market in gold.”
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“All of that tells me we’re pretty darn close to the end of this (correction in gold). I know it’s exasperating and painful. I feel the same thing myself because I am an investor. You’ve got to look at the bigger picture, and the bigger picture is that we probably aren’t going to have much in the way of economic growth.
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That means the deficits are not going to close the way the optimists are saying. The Fed is going to have to continue to buy Treasury bonds at a very high rate and expand their balance sheet or interest rates are going to skyrocket….
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China’s Gold Imports From Hong Kong Double To New Record !
- China’s Gold Imports From Hong Kong Double To New Record !
by GoldCore, via http://www.marketoracle.co.uk/
…. Gold imports into mainland China from Hong Kong almost doubled to new high in 2012 as Chinese people continue to play catch up in terms of gold ownership. The Chinese were forbidden from owning gold for over 50 years.
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Rising incomes, economic jitters and concerns about currency debasement and inflation in the world’s second largest economy led to increased demand in China which contributed to gold seeing another year of gains.
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The very poor performance of the Chinese stock market in the last 10 years (see chart below) and concerns about property bubbles are also leading Chinese investors and savers to diversify into gold.
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Mainland China imported a whopping 834,502 kilograms or 834.5 metric tons of gold, including scrap and coins in 2012. This compared with about 431,215 kilograms or 431.2 metric tons in 2011, according to Bloomberg calculations based on data from the Census and Statistics Department of the Hong Kong government.
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Imports in December 2012 rose to a monthly record of 114,405 kilograms, according to data from the department today.
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The unrealised important fact is that the people of China were banned from owning gold bullion by Chairman Mao in 1950. This prohibition continued until 2003 and it means that the per capita consumption of over 1.3 billion people is rising from a very small base. Since the market in China was liberalised, gold in yuan terms has risen by 259% while the stock market has performed poorly.
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Even after the significant increase in demand seen in recent years – Chinese per capita gold ownership remains well below that of the levels seen in India. Culturally, India is known to have the greatest affinity for gold in the world. China had a similar cultural affinity prior to the “cultural revolution” and in time its levels of gold ownership will likely rival those seen in India, Vietnam (see below) and other Asian countries.
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Chinese people experienced hyperinflation in 1949, within the lifetime of many Chinese people living today. Therefore, like in Germany, there is a greater awareness of what can befall a nation and a people when a paper currency is debased.
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Many market participants and non gold and silver experts tend to focus on the daily fluctuations and “noise” of the market and not see the “big picture” or major change in the fundamental supply and demand situation in the gold and silver bullion markets. This is particularly due to investment, store of wealth and central bank demand from China and the rest of an increasingly wealthy Asia.
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The doubling in demand in 2012 is solely private demand and does not take into account official Chinese buying.
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It is worth noting that the People’s Bank of China’s gold reserves are very small when compared to those of the U.S. and indebted European nations. They are miniscule when compared with China’s massive foreign exchange reserves of more than $3 trillion.
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The People’s Bank of China is almost certainly continuing to quietly accumulate gold bullion reserves. As was the case previously, they will not announce their gold bullion purchases to the market in order to ensure they accumulate sizeable reserves at more competitive prices. They also do not wish to create a run on the dollar – thereby devaluing their sizeable reserves. Expect an announcement from the PBOC, sometime in 2013 or 2104, that they have doubled or even trebled their reserves to over 2,000 or 3,000 tonnes.
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