World financial affairs coming to a head ... potentially within weeks [Archive]

ThePythonicCow

26th March 2013, 04:46

Some of my favorite commentators are reporting events that suggest that world financial affairs are coming to a head, potentially very soon, as in a week or two.

Item 1:

Jim Willie, CB of the Hat Trick Letter (http://www.goldenjackass.com) passes on reports, such as this one, from the Guardian (http://www.guardian.co.uk/business/2013/mar/21/rosneft-takes-over-tnk-bp) that a Russian Petro company, Rosneft, is taking over majority control of TNK-BP (http://en.wikipedia.org/wiki/TNK-BP), which had been a joint venture of BP and some Russian businessmen. BP ends up with only a 19.75% stake in the result. China is part of the deal, spending $30 billion of its stash of US Treasury bonds for future deliveries. Rosneft is now the largest oil producer in the world, surpassing Exxon-Mobil. With this purchase of majority control of TNK-BP, Rosneft also now holds key resource deals in Vietnam, Venezuala and Brazil's Amazon. In related news, Jim Willie expects China to sign a major natural gas deal with Russia in June 2013, which would make China a larger customer of Russia's natural gas than Germany.

In sum -- the dominant petro business is no longer being done in US Dollars.

Item 2:

Joseph P. Farrell is running a series on his blog speculating on what's really behind the crisis in Cyprus. He's now up to Part Three (http://gizadeathstar.com/2013/03/cyprus-clash-of-oligarchies-and-geopolitics-part-three/). I reported earlier on the first two parts here (http://projectavalon.net/forum4/showthread.php?57295-EU-deal-emerging-to-shut-Cyprus-bank-inflict-losses&p=652847&viewfull=1#post652847).

Joseph suspects (in words more blunt that Joseph used) that Germany is intentionally provoking a bank run on major European banks! This could force the hand of some major banks; already the two largest Cyprus banks have failed in some form or other. That in turn will likely put crushing pressure on the truly massive derivatives market, and cost Mr's Ben Bernanke (http://en.wikipedia.org/wiki/Ben_Bernanke), Jamie Dimon (http://en.wikipedia.org/wiki/Jamie_Dimon) and Jack Lew (http://en.wikipedia.org/wiki/Jacob_Lew) (heads of the US Federal Reserve, JPMorgan and the US Treasury, respectively) some sleepless nights, and put enormous strain on the Anglo-American financial empire.

It couldn't happen to three nicer guys :).

I figure that Germany has chosen sides in this affair, and in the long run, it's with Russia and China and the other BRICS, not with the European Union or the Anglo-American empire. (Though deciphering who is on who's side in such complex affairs requires more than a Captain Midnight Decoder Ring and Secret Score Card.)

Item 3:

Clif High, in his latest wujo http://www.halfpasthuman.com/wujo/clifswujo3252013bitcoin.mp3, which is mostly about bitcoins, towards the end of the report, reports that he's observing an escalation of language regarding a critical time financially (which he expects to drive up the value of bitcoins) in about eight to ten days (my words and summary ... I may have the details fuzzed up a bit.)

I started looking at bitcoin software again :).

ThePythonicCow

26th March 2013, 05:21

I started looking at bitcoin software again :).
Dang - should have looked a couple of weeks ago.

The price in US$ of a bitcoin has gone from $48 to $75 in the last ten days.

See chart here: http://bitcoincharts.com/charts/mtgoxUSD#rg10ztgSzm1g10zm2g25zv

Calz

26th March 2013, 05:55

Item 3:

Clif High, in his latest wujo http://www.halfpasthuman.com/wujo/clifswujo3252013bitcoin.mp3, which is mostly about bitcoins, towards the end of the report, reports that he's observing an escalation of language regarding a critical time financially (which he expects to drive up the value of bitcoins) in about eight to ten days (my words and summary ... I may have the details fuzzed up a bit.)

I started looking at bitcoin software again :).

Wow. Just finished listening.

Perhaps you should start a thread on bitcoins since it appears to be a legitimate means of freeing ourselves from the system.

Adding to your summary is the expected volatility for those interested. Having traded futures markets in years gone by, I can attest to what Clif suggests in that it isn't for the "nervous nellies" type.

Amazing idea for those wanting to get out of the country (depending on where in the world you are) and be able to get your wealth out as well and not have it stolen by the .... well .... fill in your own words.

Thanks so much :thumb:

*** adding ***

mainstream no less ... interesting.

Cyprus Crisis Boosting Unique Currency, the Bitcoin

http://lautrec.lisahosting.com/www.sopitas.com/site/wp-content/uploads/2013/03/bitcoin_2.jpg

Currency markets are keeping close track of Cyprus' banking crisis and are braced for possible repercussions, but one currency has thrived in the chaos and zoomed in value -- Bitcoins.

A Bitcoin is a digital currency that is traded electronically and does not need government backing. Despite its name, there is no coin to put in your pocket.

Two weeks ago, one Bitcoin was worth $40, then a record high.

Today, it's worth $72, largely because of "incremental interest" from euro and Russian ruble holders who are terrified by the situation in Cyprus, said Nicholas Colas, chief market strategist at ConvergEx Group, a financial technology company in Manhattan.

"The best-performing currency year-to-date has no home country, no central banker and no physical scrip," Colas said.

The Bitcoin is "clearly having a breakthrough moment here, and a deeply surprising one given its novelty and nascent infrastructure," he said.

http://abcnews.go.com/Business/cyprus-crisis-boosting-unique-currency-bitcoin/story?id=18792763

penn

26th March 2013, 10:13

witchy1

26th March 2013, 10:20

mgray

26th March 2013, 11:18

Here's a story I ran this week on Bitcoins: http://www.nypost.com/p/news/business/coin_of_the_net_realm_ayghBe82z1lpOmacpFqACJ

Conchis

26th March 2013, 12:27

So if you go to bitcoins to get a copy of the blockchain on DVD instead of downloading it on the internet.....they payment they request is in bitcoins? NOOOOOOoooooo....they want dollars. That tells me something.

sheme

26th March 2013, 12:55

"The best-performing currency year-to-date has no home country, no central banker and no physical scrip," Colas said.

I looked at the ages ago, and wondered in a tiny voice if this might be the NWO currency...... just saying

I had similar thought -exclusively electronic money is every governments dream, every transaction traceable , if society crumbles so will the bitcon?

I am sure it will happen one day, but later rather than sooner, I have nothing to hide- I just don't like the thought of my stuff being quizzed by them.

ceetee9

26th March 2013, 13:31

While I'll admit upfront that I know nothing about "Bitcoins," the following statement from Wikipedia set off all kinds of alarms for me: "Bitcoin does not operate like typical currencies: it has no central bank and it solely relies on an internet-based peer-to-peer network." So if all your bargaining power is tied up in some "decentralized" account somewhere in the cloud and then they decide to take the Internet down--or selectively control what gets through it--where do you suppose that will leave you? Just my $.02.

Limor Wolf

26th March 2013, 13:41

== Deleted==

See post below

Limor Wolf

26th March 2013, 13:48

Bitcoins raise eyebrows, It might be good for only a short period of time, and not as any substitute for securing funds . A couple of questions need to be asked:

-Who is behind the bitcoines exchange? If it is indeed (hard to believe) an anonymouse start-up company under the name of Satoshi Nakamoto (https://en.bitcoin.it/wiki/Satoshi_Nakamoto), why would the government/Cabal would allow it to develop? we need to remember that everything which is financial is under their complete control

- Very much like the physical currency : ) this is a virtual currency which represents the same old schem of things, a system that needs to break-up in the next very short couple of years.

- Easy to assess that if the internet is going to be in danger of being supervised, so does everything else under it's radar. virtual banks, virtual coins and transfers included.

- Changes in our earth echosphere system and radical climet change whether from the sun or any other celestial space orbit can affect the grid. This is not a wild conjecture but is based on some form of evidence.

No grid= no internet= no money.

-Professional hacking and games of espionage are becoming more and more popular, as well as some 'mysterious' viruses such as Stuxnet under the US and Israel flag

All this can easily beat the coin and makes it disappear as fast as it came :ohwell:

Paul, thanks for gathering all the important points that indicates a tendency towards a certain direction and giving your point of view.

I especially liked this remark -

It couldn't happen to three nicer guys :)

On that it was said - They will reach themselvs to wherever they were aiming others

sigma6

26th March 2013, 18:24

All system of currencies including the Federal Reserve could be used for fair and equitable exchange. But it doesn't matter how sophisticated the system of exchange is, if it is run and managed by criminals that are trying to extort a parasitical tax on the system through various means from bank service charges 10x more expensive then any interest charged, to inflation (devaluing of the dollar) to just reaching into peoples bank accounts and taking their money, etc, etc...

So it isn't the system but how it is managed and by whom. A system that parallels the internet's multi-distributed network makes perfect sense. I have stated many times the perfect system of organization is in front of everyone's face (in the internet) The fact that it isn't a pyramid, isn't centrally controlled, the fact that it was created by people dedicated to breaking free of the existing corrupt monetary system all tell me that it has all the potential to be an excellent system or equitable exchange.

PathWalker

26th March 2013, 19:52

The currency value is a statement of belief.
If you agree these papers and coins have such and such value, than you can barter with them.

The belief in fiat money disappointed the believers 3 times in modern history.
The 4th is coming fast.

Jeffrey

26th March 2013, 20:00

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--------------------

Entire British defense staff to meet US counterparts for rare 'strategy' meeting

[EXCERPT] The meeting is reminiscent of the Combined Chiefs of Staff, when British and American military leaders joined forces during World War II. Both nations are undergoing significant budgetary reductions and will continue to rely on each other in future years for support. Understanding what capabilities will survive and won't is essential to long-term strategic planning.

Full article here: http://www.sott.net/article/260187-Entire-British-defense-staff-to-meet-US-counterparts-for-rare-strategy-meeting

observer

26th March 2013, 20:51

Here are Jim Marrs' most recent thoughts on the Cyprus situation, and the 'Russian Connection':

Research Resource:
The Occulted History with Author Jim Marrs -
http://www.youtube.com/watch?v=X9ieMimH2Gg
(listen-through to at least the 9 minute mark)

Jeffrey

27th March 2013, 01:50

Moo-master Paul,

Doug Hagmann and Steve Quayle's financial insider "V" came out and stated that the first domino to fall would be Japan.

He said that Japan's economy would collapse overnight and the shockwave of this event would spread throughout Europe the next day, and then to America. He said that within days after this engineered financial crisis people in the US would not even be able to get money out of the ATMs and the NYSE would shut down.

That's interesting because this is exactly what Ed Dames had reiterated a year ago, regarding Japan.

Here is the excerpt from the Coast to Coast show where he re-empasized the predictions (based on remote viewing).

George Noory: Ed, bouncing economy since 2008, what do you see in the next year or two?

Ed Dames: Well, I mentioned on your show a couple of shows ago that Germany is going to dump the Euro, but stay in the European Union and you were surprised with that.

GN: Yes I was.

ED: I still stand by that. But what people are not looking at… while people are looking at the Middle East right now but for good reason, nobody is looking at the Korean peninsula because (sarcasm) nothing could happen there right?

GN: Right. And with Kim Jong III dead, everybody forgot about Korea.

ED: Right, right. Nobody’s looking at, in terms of economies… very few people, except the really wise economists are looking at Japan. Because Japan’s the real wild card. Because their economy… I mean they are in 10 times more trouble than Greece, and many times more bigger, and that’s the wildcard that nobody sees. And when that goes down, it’s not going to be the domino effect from Greece defaulting, and then Spain and perhaps Italy and Portugal. Nope, what’s going to take everybody by surprise is that the Japanese economy is going to virtually overnight go bad. That’s what is going to really catalyze the global economic collapse, which I predicted long ago.

GN: Will that affect us? If Japan goes down?

ED: Absolutely. The US is bankrupt as you know, and there is only two pathways to go. Default, which we’re not going to do… we’ll do the other thing… we’ll inflate. We’ll inflate until the dollar is so unattractive to anybody else who would ever buy it, that it will be the end of the game. They will keep printing and printing and printing… that’s why, in terms of gold, and the gold standard, in terms of gasoline and food, prices are relatively stable. It’s the value of the dollar, where the inflation will get so great, and the dollar will get so disposed in worth and go by the wayside as historical fiat currencies do.

Source: http://www.examiner.com/article/dr-doom-ed-dames-remote-views-economic-collapse-for-the-us-and-japan

I just posted a video on the DHS insider thread where "V" talks about Japan and the hyperinflation of the dollar.

After reading the predictions of Ed Dames, I did a quick internet search about Germany and the euro. Here's what came up for March of this year.

New anti-euro party forms in Germany (http://euobserver.com/political/119366)

German party says 'no' to the euro, 'yes' to the EU (http://www.dw.de/german-party-says-no-to-the-euro-yes-to-the-eu/a-16660602)

I'm still researching it all, but that alone seems beyond coincidental to me.

Also, Japan's debt has been over 200% of it's GDP for a couple of years now (since the earthquake they had there, which Ed Dames accurately predicted too).

... Ed Dames plus "V" plus "Rosebud" ... I think this should be "Item 4", beneath Clif High.

EDIT/ADD:

Max Keiser is also predicting that Japan will be the first domino. Kyle Bass (http://www.businessinsider.com/kyle-bass-japan-has-a-full-crisis-2012-11) has said this as well about Japan's economy collapsing soon. Again, both men have quite a good track record ... sorry to say. Jeff Berwick (Bitcoin ATM) has also stated that Japan will be the first to fall.

ThePythonicCow

27th March 2013, 04:26

Moo-master Paul,

Doug Hagmann and Steve Quayle's financial insider "V" came out and stated that the first domino to fall would be Japan.

That could be :).

The exact order in which this house of cards is taken down, and the exact order in which we are told it fell down, are both difficult for me to guess.

... Ed Dames plus "V" plus "Rosebud" ... I think this should be "Item 4", beneath Clif High.

Good point :).

Though since I've been following Ed Dames, "V" and "Rosebud" less, I'll leave my post as it be, and let your post present these extensions and variations.

Jeffrey

27th March 2013, 05:51

Though since I've been following Ed Dames, "V" and "Rosebud" less, I'll leave my post as it be, and let your post present these extensions and variations.

Understood.

--------------------

A little history documentary spanning the latter stages of this orchestra (2001-2010).

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Which leaves us here ... in the Spring of 2013.

Jeffrey

27th March 2013, 06:24

This is going to happen. It's not a question of if, it's a question of when.

Gerald Celente
Peter Schiff
Ron Paul
Max Keiser
Robert Wiedemer
Kyle Bass
James Rickards
Jeff Berwick
Jim Sinclair
Jim Rogers
Marc Faber
Porter Stansberry

These are just a dozen people that have said that it's coming, and they have a pretty good track record. If we consider their collective knowledge as a whole, the warning is undeniable. One would be foolish not to heed it.

Keiser is even predicting that the crisis will happen in April (next month). Also, a large majority in that list say that Japan will be the first big domino.

I really dislike Bill O'Reilly, but he nailed it here:

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I've started contacting my close friends and immediate family to simply ask: "What would you do if the US economy collapsed all of the sudden? What would you do if you couldn't get your money out of the bank?"

We've talked about the situation at hand, and we are in the early stages of developing a contingency plan. Better late than never.

PathWalker

27th March 2013, 08:45

sigma6

27th March 2013, 11:23

update: Just listened to Clif and his explanation of bitcoin, the biggest kicker is that bitcoin is OPEN SOURCE code, the implications of this is brilliant. (I'm sold on that fundamental alone!!) What it all gets down to ultimately then is the algorithm. This is ultra cool (I swear Clif just said "cool" right after I just typed this... ( LOL - karmic ca-ching!) Anyhow... it still all gets down to the algorithm. Which is controlled and developed by "the world population of programmers" and it will be fascinating to find out how that is 'modulated'. In that sense it is slanted toward programmers, (another fascinating point) but apparently, and it makes sense, according to Clif, anyone can use this as an opportunity to learn the code (if they ever had the desire at any point) Again I can totally relate, as I remember dabbling in C and Pearl...) I think this audio is the turning point for me. I am ashamed to admit I haven't looked at it, but I am sold now... (although yet to start further researching)

Any investor can see the advantage of diversifying into this. I was impressed with Clif's explanation regarding Bitcoin reflecting true value. I agree with him that 'Universe' wants to reflect true value. and Clif adds weight to the argument, considering he is THE Original Web-bot programmer, and I trust him. Some may remember web-bot was originally aimed at predicting financial markets, and he does seem to have a decent awareness of fundamental economics in my opinion. And I am in agreement with him, this isn't rocket science (to a standard geek)

I think there is something genius going on here. Think about it. This thing has ZERO advertising, mass marketing, zilcho, nadda, nothing. Has anyone factored that in, in terms of true value, efficiency, stability??? (double ca-ching!)

Kicking myself for not "seeing" this a year ago... should have listend to "the Clif" more... I do enjoy listening to him, and love factoring in his "slice" on "the big picture". Based on the market and what he has said, he looks to be dead on, on this one... which shouldn't be too much a surprise, this is right down his alley. From a financial investment point of view, on an unadvertised medium such as this, who better to get a commentary from?

Radi

27th March 2013, 11:31

1 year ago bitcoin was 10$ now is going 90$

sigma6

27th March 2013, 11:37

LOL, Radi, that was the second 'serendipitous karmic caching', I just wrote that in while you put up your own Post (high five)

sllim11

27th March 2013, 12:15

ENTER THE WORLD'S FIRST OPERATIONAL BITCOIN ATM

http://dollarvigilante.com/blog/2013/3/25/worlds-first-bitcoin-atm-is-announced-first-location-cyprus.html

"ENTER THE WORLD'S FIRST OPERATIONAL BITCOIN ATM

Upon examination of the marketplace and many discussions with Justin O’Connell (TDV Newsletter & Gold Silver Bitcoin), as well as another key strategic partner of ours, I have decided to move forward with what I believe could be the next multi-billion dollar business venture: Bitcoin ATM.

But that isn’t all. It is wholly our intention at Bitcoin ATM to put the company in the right position to open its very first ATM in Cyprus. If we did this now, and we are moving quickly to make this so, we would be the only functioning ATM on the island.

How do I know this is such a good idea? Just look at what Bloomberg recently wrote about Bitcoin as currency:

One place where it’s not safe is in Bitcoin. Bitcoin is generally referred to as a “digital currency” or “virtual currency,” a form of cash that doesn’t need government backing. Unfortunately it’s missing the most essential aspect of money: it’s not useful for buying anything. Bitcoin’s rise as a tool for financial speculation underlines the failure of the virtual currency idea.

As Dollar Vigilante readers will know, I take issue with a number of assumptions in this paragraph. For instance, no economic law exists (in the real world) which stipulates that cash needs government backing. Also, I have found that Bitcoin is useful for many things, not the least of which are the many things we accept Bitcoin for here at TDV Media, such as TDV Offshore, TDV Passports, TDV Newsletter, TDV Homegrown, and Get Your Gold Out Of Dodge.

I am not the first person to note Bitcoin’s Aristotelian attributes as money.

Durability: Bitcoin exists on the networks of users everywhere. Just like the internet, there is no singular switch to turn Bitcoin off. Bitcoin has already seen tremendous volatility, and the userbase has remained.

Portability: What’s more portable than a flash drive? Or, how about a private key memorized in your brain. There is nothing more portable than a thought, and that’s what Bitcoin can be if you memorize your private key and keep the coins on a cold storage medium (also another technology the Bitcoin ATM team has planned).

Fungibility: Bitcoin is divisible up to 8 decimal places. That means that at its current growth (inflation) rate of 3,600 bitcoin-a-day, the ultimate total amount of 21,000,000 bitcoin ever to be on the market can be divided among billions of people on the planet.

Intrinsic Value: A bet for Bitcoin is a bet for the Internet. We all have first hand experience with the intrinsic value of the Internet. What’s more, Bitcoin values the notion of privacy in a world where privacy has become scarcer than silver."

Jeffrey

27th March 2013, 14:30

Hey folks,

I have to interject here. I am no financial guru, but it seems to me that Bitcoins are a bad idea overall. These were my initial thoughts.

Ultimately, Bitcoins are worth less than the paper money we use today when you think about it. The paper money isn't backed by gold anymore, but it's still paper ... it's at least tangible.

Even credit cards are supposed to be backed by paper money somewhere, and this is even further from the mark of currency being backed by some precious commodity.

Bitcoins seem to be backed by nothing but good faith.

They are wholly digital. Maybe I am misunderstanding this.

Ultimately, I see (rather, the conspiracy nut inside of me sees) this becoming some sort of one world currency developed virtually and sustained wholly in cyberspace.

Here are some other links that at least get you thinking about some disadvantages of Bitcoins.

http://www-cs-faculty.stanford.edu/~eroberts/cs181/projects/2010-11/DigitalCurrencies/disadvantages/index.html

Like I said, these are just initial thoughts, but I think it's probably a good idea to look at the disadvantages too.

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That advice from Alex seems prudent enough.

Also, Bitcoins are dependent on the internet, yet Clif High expects the internet to fail based on his data gap ...

RMorgan

27th March 2013, 14:47

Hey Vivek,

There´s a good thread about bitcoins here:

http://projectavalon.net/forum4/showthread.php?57353-Will-Bitcoin-Kill-the-Federal-Reserve

Raf.

ThePythonicCow

27th March 2013, 15:53

Here are some other links that at least get you thinking about some disadvantages of Bitcoins.

http://www-cs-faculty.stanford.edu/~eroberts/cs181/projects/2010-11/DigitalCurrencies/disadvantages/index.html

That's a good list of the practical disadvantages of bitcoins - thanks.

Cognitive Dissident

27th March 2013, 16:15

Maybe Bitcoins should have its own thread... interesting subject. It now seems fairly clearly however that they are on the radar of TPTB and so I expect that there will be some major efforts to crash/infiltrate/tax/control/discredit etc. bitcoins over the next few months. There is no way that TPTB would let bitcoins actually work as a functioning currency, too many cats out of too many bags.

On the general question of the world financial crisis coming to a head in the next couple of weeks - once again, no.

It is not going to happen. The crisis is on-going, permanent and will get worse in fits and starts. I'm going to copy the substance of the comment that I made on another thread because only 4 people thanked me for that comment hehehe

As a number of people have said, a collapse is only going to happen if it serves TPTB to do so.

The point to remember is this: there are many, many intermediate steps between "where we are now" and "total collapse". And each of these steps can be used to tighten the screws of control, to make people accept one more small loss of liberty or infringement of rights, for the sake of social order and "preventing collapse".

In other words, TEOTWAWKI will increasingly be used as a meme to justify what is happening anyway with the NDAA, domestic use of drones, security cameras everywhere, thought predictive pre-crime interventions, etc. That is, if terrorism no longer frightens people, maybe TEOTWAWKI will? Of course, this means that TEOTWAWKI is, or would be, a false flag. It is very important to bear this in mind as we discuss these issues and anything relating to "collapse".

A good economic perspective on all of this is Charles Hugh Smith. He doesn't mention UFOs at all, but he is very insightful on many other things: http://www.oftwominds.com/blogmar13/...arios3-13.html

For the reasons given above, we are going to see his scenario 2 prior to scenario 3.

Finally, on Paul's original item 1, about the petrodollar, this is incorrect. Oil and gas assets are increasingly owned by the Russians and the Chinese, but oil and gas are still bought and sold in US Dollars. Anybody who tries to sell in another currency gets brought down pretty quickly (Saddam Hussein, Gadhafi).

Jeffrey

27th March 2013, 16:49

-------------------------

Billionaires Dumping Stocks, Economist Knows Why

Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast.

Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate.

[...]

Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. stocks too. During the second quarter of the year, Paulson’s hedge fund, Paulson & Co., dumped 14 million shares of JPMorgan Chase. The fund also dumped its entire position in discount retailer Family Dollar and consumer-goods maker Sara Lee.

Finally, billionaire George Soros recently sold nearly all of his bank stocks, including shares of JPMorgan Chase, Citigroup, and Goldman Sachs. Between the three banks, Soros sold more than a million shares.

So why are these billionaires dumping their shares of U.S. companies?

Full article here: http://www.moneynews.com/Outbrain/billionaires-dump-economist-stock/2012/08/29/id/450265?PROMO_CODE=FE8A-1

See also: http://www.warrenbuffett.com/why-billionaires-are-dumping-stocks-at-an-alarming-rate/

PathWalker

27th March 2013, 17:28

As for the open source theme. I am a software developer.

Unless you build your software from the code itself, you have no assurance the code match the software you are running.
Java software applications have some authenticity mechanism. The only one I know (there may be others).

Saying this:
1. Bitcoin is #1 financial tracing/tracking system.
2. Google Chrome is #1 spying software there is. (the open source version is not the software you are running in your computer).
3. Self built Linux kernel (Like Debian), is indeed open source. Unlike Android, Mac OS, iOS and other Linux derivatives.

Assume the information you type in your machine is public domain.

Calz

27th March 2013, 18:21

Number of interesting posts.

It seems I live under a rock as I had not heard of bitcoins until Paul posted the Clif wujo.

My initial excitement stems from my trust in Clif (and Paul) ... as well as not only having an option to bankster control but what sure *appears* to be a remarkle investment opportunity with a very tight window.

(read monkey mind or more appropriately reptile survival instinct goes into overdrive)

That excitement has waned somewhat upon learning more and considering all the variables.

I hope those offering warnings against bitcoins will have taken the time to listen to Clif's mp3.

With some history of trading futures and seeing the spike in price based on the Cyprus situation one can only imagine what would happen if, indeed, the country by country domino collapse of the world economy happened. Since bitcoin appears to be "priced" relative to various global currencies if you are savy and lightning quick you could take advantage of a remarkable opportunity to preserve wealth when most of the global wealth is sucked away before most have a clue what has happened.

Now ... having said that ... even with the most optimal scenario regarding getting into bitcoins then having the value skyrocket you still have to consider ... ***getting out***.

There has to be a buyer for every seller.

If the dollar (just as an example) crumbles to near zero the weighted value of the bitcoin would conversely go to the moon.

... but ... what are you going to do???

Sell it to someone else who may be a millionaire yet basic math suggests a million x zero = zero???

Perhaps a better play (from purely an investment approach) to stick with forex and short the dollar vs some other currency that *perhaps* might escape the collapse.

Anyway ... back to topic.

I found a site last night at work (unfortunately I cannot find again) that had a list of all the places that accept bitcoins as payment. The overwhelming majority, understandably, are web based and computer related.

Walmart was *not* on the list ...

There were perhaps 3 restaurants worldwide ... meaning you ain't gonna feed your family here.

From what I can tell ... at least at this point ... you don't remain "anonymous" if you are trying to make transactions over $10,000.

The best use I can see for this is if you were seeing the handwriting on the wall (aka pre ww2 Germany) and want to simply pick up and leave amerika yet still be able to have access to your funds (better act fast). Depending on your situation if you had a spouse who left first ... you could make transfers under that amount and wait for your spouse (then located in the country to flee to of your choice) sell the bitcoins put them into the local currency (then housing/food/tangible physical items) then rinse and repeat until you move your moneys elsewhere then rejoin your spouse/family.

(assuming other conventional methods of money transfer were no longer secure)

Lots of speculation (mental mast_rrrr_bation more likely).

Anyway ... I work in the IT field but haven't done any serious coding since college ... again simply placing trust in Clif and Paul.

All this personal speculation is based on my expectations of what will happen to fiat currencies. To give you an idea ... I quit a job I absolutely *loved* about 8 years ago simply so I could gain access to my 401k retirement account because I was so convinced that by the time I was of retirement age it would be gone.

Sorry to ramble ...

simply a bit (coin) to nibble on for anyone considering this.

If Clif (and others) are correct about the time frame ... now would be the time for action ...

tick ... tick ... ooops ... too late :clock:

ThePythonicCow

27th March 2013, 21:08

sigma6

27th March 2013, 21:53

There is no problem with fiat currency, its just a system, a tool, the question is who is managing the process. In a centralized system, once it is corrupted then no system will work. I can build a safe, but if I give the keys to my criminal friends what does that have to do with the safe being well designed? The problem with Federal Reserve system is that it is run by a pyramid of Satanic Pedophilic Sadistic Inbred Crime Families.

That's a problem.

As always the issue is always with CONTROL OF DISTRIBUTION OF... (FILL IN THE BLANK)

Bitcoin like the internet and all structures and organizations modeled similarly are the anti-thesis to the Control of Distribution issue. NO ONE individual can control it. And they are usually models of hyper efficiency and incredible robustness.

People are so brainwashed to live according to such a low standard and having all their wealth and labour be stolen from them, or flushed down the toilet, they get weirded out when told that it is in fact NOT NORMAL (or efficient) The whole purpose of big government is to suck up as much private wealth and impose as much imposition and tax as is humanly possible (Western Roman Imperialism) That fact that we live under these circumstances means nothing, except we are willing oxen. Clif is right. Bitcoin is inevitable. Learn it now, or like the computer learn about it later...

Decentralized control,
Open Source
Not controlled by any individual government.
Algorithm to prevent inflation.
Requires only human thought to unlock,
Global currency
It's success is tied to the success of the internet.
It's only two years old!!
No paying for huge towers in downtown city cores (who do you think paid for those buildings???)
No banks, CEO, Vice Presidents, their managers, their staff...
No multibillion dollar advertising campaigns
No expensive minting
No manipulation By private interest groups.

Even if it isn't a perfect system, with that many trillions freed up, there is more then enough billions saved due to it ridiculously clever efficiencies to create whatever system is necessary to make it work even better. (Which btw it appears to already be working highly successfully) And will still save infinite billions. This is such a no brainer...

And although I have not done enough research it seems to be based on a private public key security encryption ( just larking...) But if it is, that is as secure as it gets. although encryption is ever evolving and another separate issue.

RMorgan

27th March 2013, 22:03

Bitcoin like the internet and all structures and organizations modeled similarly are the anti-thesis to the Control of Distribution issue. NO ONE individual can control it. And they are usually models of hyper efficiency and

Hey mate,

Sorry, but you´re wrong. Read this thread (http://projectavalon.net/forum4/showthread.php?57353-Will-Bitcoin-Kill-the-Federal-Reserve) if you want to know more about it.

Bitcoins can be controlled and already are, not by individuals, but by groups; The anonymous owners of the bitcoin exchange networks and major "mining pools" group.

The exchange people can (and already have) manipulate the exchange ratio as they see fit.

The major "mining pools" can control the amount of new bitcoins that enter the marketing by accelerating or slowing down the mining process.

As I said before, Max Keiser analyzes is incorrect about bitcoins. Instead of stock markets and central banks, bitcoin has exchange website and mining pools, owned by a bunch of anonymous hackers.

It´s not even close to be safe as well, at least for the average computer user. Keeping your wallet file secure requires a lot of security knowledge.

So, to sum up about bitcoin:

-It´s not stable. It has gone through many ups and downs and a couple of majestic crashes.

-It´s not decentralized. It´s highly controllable by exchange websites and mining pools.

-It´s not anonymous. There are means to trace transactions.

-It´s not backed up by any legal tender or commodity.

-It´s not backed up by the law. If someone steals your wallet, like it´s happened many times before, there´s no one you can file a complain to. You just lose your money forever.

-It´s not safe. There are hacker groups and malware specialized in locating and stealing people´s wallets. The average person doesn´t have the knowledge to protect themselves from them.

Raf.

sigma6

27th March 2013, 22:12

That's an issue that can be fixed. And as the population of users grow, it will be diminished. Technically Wallstreet and The stock markets or Forex exchanges are too big to be controlled except that they are artificially controlled by the Big Banks, who have designed it that way. So nothing can be done about it. When enough people want to change something on Bitcoin. It will be changed. Your not getting the NO ONE entity can control it aspect... How many times have we heard about various organizations trying to control various aspects of the internet?

You have to think outside the pyramid.

The banks are dinosaurs and they know it, it was always a control system since the day it started. Controlled by the elite and well educated. We are witnessing another pillar of the Elite Control System falling under its own weight into the ruins. haha!!. I can see the day when they will become top heavy organizations like Bell. That has to carry on, but long past the point of diminishing returns from increased growth to becomig an government controlled institution. Just another option (look for cheap underpaid government positions) Today computers can do all the accounting instantaneously.

The Internet is the perfect place for these types of businesses. Look at the growth of multi-level marketing companies online. Although they still need a long way to go in terms of the value offered, that is largely a functon of the algorithm they choose (which educated customers will learn to choose more wisely from in the future) but in principle of distribution and the business model itself is efficient and robust. And because they were integrated into the structure of the internet, again all accounting is done instantaneously. This is a relatively new attribute of commerce since it's inception. It's implications not yet fully realized or understood. Although Bitcoin is taking advantage of this relatively new fact of existence.

The potential is unlimited. Why pay accountants to do what computers can? Instead of a thousand individual businessmen paying a thousand accountants, why not take those funds, create an online (computing) system that can be shared by all. Wasn't that the great efficiency that made Bill Gates all his money? So why not create the same system for the people by the people. (Screw Bill Gates, he stole Q-DOS off someone else anyway...)

Jeffrey

27th March 2013, 22:38

Paul or anybody,

If North Korea drops a nuke on one of our bases in Japan, do you think that might trigger an economic collapse for Japan?

North Korea Cuts Hotline, Warns Of 'Simmering Nuclear War' (http://www.npr.org/blogs/thetwo-way/2013/03/27/175453228/north-korea-cuts-hotline-warns-of-simmering-nuclear-war)

North Korea orders military to combat ready; target U.S. (http://www.washingtontimes.com/news/2013/mar/26/north-korea-orders-military-combat-ready-target-us/)

I mean, from what I've read, Japan is "due". They've been coasting along with an slow moving "zombie economy" for a while now and their national debt has been over 200%(!) of their GDP since that major earthquake a few years back.

It seems that they are just a breath away from economic turmoil. Now, Abenomics is pushing for QE more than ever before in their economic history. The Yen has been diving for a while now.

Apparently, Obama has given Israel the "green light" to clean house in Iran.

Obama gave Netanyahu the green light on Iran (http://www.foxnews.com/opinion/2013/03/22/obama-gave-netanyahu-green-light-on-iran/)

History has taught us that government/bankings way out of a depression is war.

It seems to me that the stage is set (Korea/Middle East). Not to mention US/UK brass have just met for an unusual, "rare strategy meeting" that hasn't taken place (in these regards) since WWII.

This thing with North Korea is serious. They have nuclear weapons, and they may be feeling desperate now. China, their main ally, has even been putting pressure on them and enforcing these new UN sanctions.

We are poking an angry dog here. They must know how it would end if they started a war with the south or attacked a US base in Japan, and they may feel that the world is against them (which it is). That's why I'm saying they could be feeling desperate ... thinking, "if we're going down, we're going down in flames" ... especially if China cuts them off.

I think a war in Korea would definitely catalyze this looming global economic situation ... especially with Japan, possibly the first big domino.

sigma6

27th March 2013, 22:44

-It´s not stable. It has gone through many ups and downs and a couple of majestic crashes.
-It´s not decentralized. It´s highly controllable by exchange websites and mining pools.
-It´s not anonymous. There are means to trace transactions.
-It´s not backed up by any legal tender or commodity.
-It´s not backed up by the law. If someone steals your wallet, like it´s happened many times before, there´s no one you can file a complain to. You just lose your money forever.

These are all technical issues. For two years of existence it is doing amazingly well. Once it goes mainstream, these will all be solvable technical issues. And there should be a means of keeping track of transactions anyway. That will be needed to correct "errors of accounting". And it's not backed up by law?. Take a look outside. What law? There is no "law".

Are you talking about "statutory laws"? That's an oxymoron by definition. You mean the "laws" that allows the Government to allow a bank to go in and publicly steal people's bank accounts, and then advertise it on the news, right in front of everyone's face? Are those the laws you are referring to? There are corporate bosses running pyramidal corporations. And you're an "employee" or "officer" You're not following the "law" you're living like a lacky that has to jump when you "boss" says jump and if you don't like it you can move to South America (as the only way to surgically remove your Mcdonald's cap and take off your apron, to say "I quit, I don't want to follow McDonalds' "laws" anymore... waaahhhh....)

(no disrespect to McDonalds employees or people who live in Corporate USA)

Nothing backs many forms of currency. That's why they call it fiat. It's not that it's fiat, it's that it is centrally controlled by inbred satanic pedophilic sadistic crime families. That's the problem...

In reality the only true law is the law of contract. The law of consensual exchange of consideration. I would rather trust a series of networked computers distributed around the world, that are open to public inspection then a centrally owned (and thus privately programmed) computer run by gangsters.

Once a real market is created, with increased supply and demand, people will demand higher quality, and those that deliver it will be rewarded. It may sound unfamiliar because we haven't been living in an open market for so many decades many people forget how it actually works... :eek:

sigma6

27th March 2013, 22:48

Apparently, Obama has given Israel the "green light" to clean house in Iran.
That's a joke, they could barely handle the Palestinians in their own back yard. And if they unload one Nuke. All bets are off. So they are still just a posturing tool. (like so many other things)

History has taught us that government/bankings way out of a depression is war.
That was before the internet, when people thought they were dying for honour and integrity, not Dick Cheney and his corporate profits.

A refresher on "what is money"...

YS88F7Bw2AQ

dcH1B20oW9A

f6uuAupT4AQ

RMorgan

27th March 2013, 23:17

-It´s not stable. It has gone through many ups and downs and a couple of majestic crashes.
-It´s not decentralized. It´s highly controllable by exchange websites and mining pools.
-It´s not anonymous. There are means to trace transactions.
-It´s not backed up by any legal tender or commodity.
-It´s not backed up by the law. If someone steals your wallet, like it´s happened many times before, there´s no one you can file a complain to. You just lose your money forever.

These are all technical issues. For two years of existence it is doing amazingly well. Once it goes mainstream, these will all be solvable technical issues. And there should be a means of keeping track of transactions anyway. That will be needed to correct "errors of accounting". And it's not backed up by law?. Take a look outside. What law? There is no "law".

Are you talking about "statutory laws"? That's an oxymoron by definition. You mean the "laws" that allows the Government to allow a bank to go in and publicly steal people bank accounts, and then advertise it on the news, right in front of everyone face? Are those the laws you are referring to? There are corporate bosses running pyramidal corporations. And you're an "employee" or "officer" You're not following the "law" you're living like a lacky that has to jump when you "boss" says jump and if you don't like it you can move to South America (as the only way to surgically remove your Mcdonald's cap and take off your apron, to say "I quit, I don't want to follow McDonalds' "laws" anymore... waaahhhh....)

(no disrespect to McDonalds employees or people who live in Corporate USA)

Nothing backs many forms of currency. That's why they call it fiat. It's not that it's fiat, it's that it is centrally controlled by inbred satanic pedophilic sadistic crime families. That's the problem...

In reality the only true law is the law of contract. The law of consensual exchange of consideration. I would rather trust a series of networked computers distributed around the world, that are open to public inspection then a centrally owned (and thus privately programmed) computer run by gangsters.

Once a real market is created, with increased supply and demand, people will demand higher quality, and those that deliver it will be rewarded. It may sound unfamiliar because we haven't been living in an open market for so many decades many people forget how it actually works... :eek:

Hi again brother,

To me, it´s more than clear what bitcoin really is; It´s a ponzi, a pyramid scheme that benefit only the early adopters, who earned 6 million coins, which now are worth millions of dollars, for free.

I´ve been tracking bitcoin since the begining, and I´m sure about that.

Do a little research regarding bitcoin and you will get it as well; I´m sure about that.

As for laws, as I´ve said before, if someone hacks into your bank account and steals your money, the bank will refund you. With bitcoin, you would just lose your money forever and would have no one to file a complain about it.

There´s a video on youtube called bitcoin ponzi scheme; check it out.

Raf.

Jeffrey

27th March 2013, 23:31

History has taught us that government/bankings way out of a depression is war.
That was before the internet [...]

It was also before this new era of drones ... which only requires a few people to operate from a remote location, yet does the job of potentially hundreds of military personnel. Since the technological revolution, war has become more automated than peopled (taking cyber warfare into account as well).

The internet is also a big tool for manipulation, just like the MSM. Yes, it has numerous benefits, but there are also disadvantages.

Egypt's government shut their internet down. I don't think our government could scale that up and do that in America, but it's not outside of the range of possibilities for them to attempt.

For instance, we know that Microsoft, Lockheed Martin, and DARPA have been working on a Military Network Protocol (MNP) since 2009. This program was apparently exclusive to military networks though.

We also know that the NSA has been in bed with AT&T and Verizon in the past.

So, it's no stretch of the imagination to think that maybe they have a counter-system set up for "revolutionary actions" against the government (threatening national security) promulgated through the internet.

No doubt they can shut down certain websites (heck, they'd just need access to a data center and a sledge hammer -- no need to get technical), and they might have a very long list of individuals in the alternative media realm that they are prepared to silence by virtually making it very difficult for them to make their voices heard over this medium (i.e. Obama's Cyber Warriors).

When people can't get all the "good stuff" from the internet, they inevitably will turn to the television (a majority). We all know the manipulation tactics of the MSM, it's practically owned by the government/banks.

ThePythonicCow

28th March 2013, 00:07

Jeffrey

28th March 2013, 02:26

Prodigal Son

28th March 2013, 02:39

The imminent economic collapse, is not the destruction of the human culture as we know it. To the opposite.
Those are my feelings exactly. When I tell people about the destruction of the Fed, I do it with glee. They always say, "it's scary". And I tell them, "that is exactly what keeps them in power".

Jeffrey

28th March 2013, 02:47

Prodigal Son

28th March 2013, 03:14

I completely agree that overall and in the end this is a "cleansing" of all the bad economics, policy, and politics.

Please realize though, this will not be a walk in the park. I have faith in humanity, but we also have to recognize that many people do not.

When it comes down to it, it's going to be rough -- really rough. That's what we need to be prepared for. Physically/materially and mentally.

That's why it's best if it happens in at springtime in the northern hemisphere... "pray that your flight does not occur in wintertime..." -Matt 24:20

I have lots of good dandelion recipes ;)

Jeffrey

28th March 2013, 03:47

--------------------

Chinese Stocks Are Diving — Banks And Property Developers Are Getting Slammed

Read more: http://www.businessinsider.com/china-falling-march-28-2013-3#ixzz2OnVIAmgn

https://pbs.twimg.com/media/BGaGapoCAAAIjK9.jpg

Happing now, as of the last hour or so.

https://pbs.twimg.com/media/BGaHGDeCYAACIqk.jpg

Shanghai Composite is now down 2.66%.

http://finance.yahoo.com/intlindices?e=asia

http://www.bloomberg.com/quote/SHCOMP:IND

Jeffrey

28th March 2013, 04:01

--------------------

Cyprus banks to reopen Thursday with tight controls

NICOSIA, CYPRUS (BNO NEWS) -- Cypriot's finance minister announced Wednesday that the country's banks will reopen on Thursday with tight controls to regulate the flow of capital, nearly two weeks after financial institutions were shut to avoid a bank run during the island's financial crisis.

Finance Minister Michalis Sarris issued a decree Wednesday to outline a range of temporary measures the government will take to avoid further instability in the financial system when banks reopen. It said the measures, which will apply for at least seven days, are to ensure public order and public security.

The Central Bank of Cyprus said the banks, which have been closed since March 16, will be open from 1000 GMT to 1600 GMT on Thursday. Customers will be able to withdraw a maximum of 300 euros ($383) per day from their accounts, but leftovers from the day's maximum will be added to the next day's allowance.

Businesses will be able to carry out transactions up to 5,000 euros ($6,390) per day, per account and pay salaries to their employees. Payments and transfers from outside Cyprus, via debit, credit or prepaid cards, will be permitted up to 5,000 euros ($6,390) per month, per person at each bank.

"These measures are temporary. The Central Bank of Cyprus and the Government of Cyprus will review them each day, with a view to progressive lifting of the measures as soon as circumstances allow," the finance ministry said in a statement, adding that credit and debit cards will continue to work.

Meanwhile, the ministry said the Cyprus Popular Bank, which is better known as the Laiki Bank, has been placed into administration. It said most of the businesses, including all insured deposits under 100,000 euros ($127,770), have been transferred to the Bank of Cyprus, and that Laiki Bank staff will become employees of the Bank of Cyprus.

Unlike insured deposits which have been fully protected, depositors with more than 100,000 euros ($127,770) in the top two banks face losing a large chunk of their money. The uninsured deposits will be partly converted into shares in the Bank of Cyprus and partly retained as cash.

"With these measures, the banking sector has been restored to viability, with the biggest part of the banking operations of Laiki Bank being merged with the Bank of Cyprus, and the Bank of Cyprus will be recapitalized immediately, creating a powerful credit institution worth to regain the trust of the Cypriot depositor and businessman," the ministry said in its statement.

The Cypriot government reached an agreement with the European Union, European Central Bank and the International Monetary Fund on Monday to restructure the country's crucial banking system, avoiding a dramatic exit from the eurozone. Shareholders and large depositors will face huge losses in return for the 10-billion euro ($12.7 billion) bailout.

Source: http://wireupdate.com/cyprus-banks-to-reopen-thursday-with-tight-controls.html

sigma6

28th March 2013, 04:18

As long as there is electricity there will be the internet, personally I am inclined to believe whatever the true origin of the internet, it's creators may have seen this future. I think it was a necessary part of this timeline.

The internet cannot be controlled. regardless how much data they can back up and store, it would take a 100 years and growing to "process" it or read it. Can't be "humanly done" They are not even close technologically. Right now at best it is just all data being dumped with no where to go... Good luck I say...

Hervé

28th March 2013, 05:48

The World Bank: Rejecting “The Rule of Law”

“The proverb, ‘What you don’t know can’t hurt you”, originated in 1576 as, ‘So long as I know it not, it hurteth mee not.’ But the opposite is true. Unpleasant hidden truths do the most harm. The best way to fight corruption is to expose it. Think of the World Bank as ENRON.” … Karen Hudes

by Karen Hudes (with Jim Fetzer) (http://www.veteranstoday.com/author/fetzer/)

(http://www.veteranstoday.com/author/fetzer/)http://www.veteranstoday.com/wp-content/uploads/2013/03/karen-world-bank-320x239.jpg (http://www.veteranstoday.com/2013/03/27/the-world-bank-rejecting-the-rule-of-law/karen-world-bank/)
Karen Hudes

When, thanks to Mark Novitsky, a federal whistleblower (http://radiofetzer.blogspot.com/), I learned that Karen Hudes, who earned her J.D. at Yale, our most distinguished School of Law, and an M.Phil. in economics at the University of Amsterdam, which is also a formidable institution, had been removed from her position as Senior Counsel for the World Bank because of her efforts to expose corruption and reaffirm the rule of law in the form of appropriate standards of accounting, I was dumbfounded.

What initially appear to be obscure issues of international finance, moreover, have the potential to sever ties between us and our NATO allies and weaken the national security of the United States. The stakes involved are therefore extremely high for every American citizen.

During the World Bank and IMF Annual Meetings last October, with her encouragement, the Development Committee informed President Jim Yong Kim of the need for “a more open, transparent and accountable World Bank Group.” The reasons that motivated that request included the following series of disturbing developments:

The World Bank has disregarded the Joint Economic Committee’s 2005 inquiry (http://kahudes.net/wp-content/uploads/2012/10/101.pdf) into the World Bank’s “corporate governance irregularities” and “accounting problems”;
The World Bank has failed to follow the Joint Economic Committee’s advice that professional financial and accounting employees be given independent access to the World Bank’s Board and its Audit Committee;
The World Bank has failed to protect Hudes against retaliation for challenges of illegality or other misconduct through external arbitration pursuant to the 2005 Lugar-Leahy amendment (http://kahudes.net/wp-content/uploads/2012/10/105.pdf), which could threaten its mission;
The World Bank has stonewalled Senator Lugar’s and Congressman Van Hollen’s four requests (http://kahudes.net/wp-content/uploads/2012/10/108.pdfhttp://kahudes.net/wp-content/uploads/2012/10/1101.pdf%20https://docs.google.com/file/d/0Bzss7Q0pShvzejNWLWR3Yjljdmc/edit)for the advice of the executive search firm following Hudes’ disclosure of internal control lapses;
The World Bank has refused to comply with the Government Accountability Office inquiry into corruption requested by Senators Lugar, Leahy and Bayh (http://kahudes.net/wp-content/uploads/2012/10/124.pdf) for more than three years;
Congress has reiterated its request for the GAO inquiry during hearings on the World Bank capital increase (http://www.foreign.senate.gov/hearings/hearing/?id=33c66777-5056-a032-525a-a0a5806634e9), with which it has yet to comply; and,
Treasury Secretary Timothy Geithner misrepresented progress on World Bank reform (https://docs.google.com/file/d/0Bzss7Q0pShvzWmE5Rlp1NVdMQlk/edit) in his 11/21/12 report to the Appropriations Committees pursuant to § 7082 of the Consolidated Appropriations Act of 2012.
The Crisis in Cyprus as a Mini-Model

The threat by EU bankers to loot savings accounts held in Cyprus has raised red flags all over the world. As The New York Times (25 March 2013) has reported (http://www.nytimes.com/2013/03/25/business/global/no-matter-outcome-cyprus-crisis-is-blow-to-business.html?nl=todaysheadlines&emc=edit_th_20130325&_r=0),

LIMASSOL, CYPRUS — It is not just about rich Russians and Cypriot retirees. Also vitally at stake in this island country’s banking crisis is Cyprus’s credibility as a place for international companies to continue doing business.

Take Avid Life Media, the Canadian-owned operator of some of the world’s biggest online dating sites. Only a few weeks ago it set up an office here as a base for its international operations, attracted to Cyprus — as hundreds of other foreign businesses have been — because of its reputation for financial stability, a low corporate tax rate, a friendly banking environment and most of all, a strong rule of law.
Now imagine that was the case for the most important bank of all, which affects the world’s economy. Imagine that bank accounts were being looted world-wide and you will begin to appreciate the dimensions of the problem.

http://1.bp.blogspot.com/-hheaM3q1Ilw/UVL5Yg7DC1I/AAAAAAAABp4/e6znCTb3uGM/s400/6+December+2011+News+Release.jpg (http://1.bp.blogspot.com/-hheaM3q1Ilw/UVL5Yg7DC1I/AAAAAAAABp4/e6znCTb3uGM/s1600/6+December+2011+News+Release.jpg)

When I discovered that Karen Hudes’ reinstatement, which was being supported by the finance ministers of the nations of the world, was being blocked by its recently appointed president, Jim Yong Kim, who was formerly President of Dartmouth, I was further astonished, because I had encountered Kim before. He had supported the publication for an article by a member of the computer science faculty, Hany Farid, who claimed that the backyard photographs used to convict Lee Harvey Oswald in the public mind were authentic, which was profoundly disturbing.

Hany Farid and “the backyard photographs”
That is a claim that others had long since proven false. Jack White, the legendary JFK photo analyst, had testified to the House Select Committee on Assassinations (HSCA) when it had reinvestigated the deaths of JFK and of MLK in 1976-77 and had pointed out a dozen features that disqualify them (http://www.veteranstoday.com/2011/08/19/framing-the-patsy-the-case-of-lee-harvey-oswald/). Oswald himself had told Capt. Will Fritz, the Dallas Homicide detective who interrogated him, that the photo he was shown had his face pasted on someone else’s body. Like other claims Oswald made at the time, subsequent research has proven that he was right.

The chin is not Lee Oswald’s chin, which was somewhat pointed, but a block chin; there is an insert line between the chin and his lower lip; and the finger tips of his right hand are cut off, for example. Even more interestingly,
http://www.veteranstoday.com/wp-content/uploads/2013/03/Backyard-fakery2.jpg (http://www.veteranstoday.com/2013/03/25/the-world-bank-rejecting-the-rule-of-law/backyard-fakery-3/)
he realized that the two communist newspapers that Oswald was holding–The Militant and The Worker–had known dimensions and could serve as an internal rule to determine the height of the person who was holding them. Using that method, he was able to establish that he was about 5’6″ tall, when Oswald was about 5’10″–which meant that either someone who was too short to be Oswald had posed for the photos or that they had been introduced too large when they were faked. Either way, they could not possibly be authentic.

When I discovered that Hany Farid, who has a lab funded by the FBI, had published the claim that he had proven them to be authentic by showing that it was possible to replicate the shadow cast by the nose in one of them, I knew he was perpetrating a fraud on the public, because (1) there are four poses taken in different positions at different times, where it would have been virtually impossible for the nose shadow to remain constant from one to another; and (2) there are many other indications of fakery besides the shadow cast by the nose that prove fakery, where even if he had been right about the nose shadow, his conclusion of authenticity would have been wrong. He was violating a basic precept of science by not basing his reasoning upon all the available relevant evidence

So I wrote to President Kim to explain why Darmouth was committing a blunder in supporting Hany Farid’s claim, which I substantiated with multiple lines of proof. Dartmouth stood pat, however, and never took steps to correct the record, even though it was a matter of immense public interest and concern. I published an article about my experience with Kim in an article co-authored with Jim Marrs in OpEdNews, “The Dartmouth JFK-Photo Fiasco” (http://www.opednews.com/articles/THE-DARTMOUTH-JFK-PHOTO-FI-by-Jim-Fetzer-091116-941.html) (20 November 2009) and followed up by publishing my correspondence in “Blowing the Whistle on Dartmouth: Hany Farid in the nation’s service” (http://www.opednews.com/Diary/Blowing-the-Whistle-on-Dar-by-Jim-Fetzer-100126-428.html) (26 January 2010), which I regarded as a professional obligation.

It now appears to me that Kim may have been rewarded for his contribution to the public deception about the death of JFK by being appointed to the World Bank, just as Paul Wolfowitz appears to have been appointed by George W. Bush for his contributions to 9/11 and the “war on terror”. I have long believed that, in Washington, D.C., the bigger the liar, the further you go. I now believe that, when it comes to acting contrary to the public interest, the presidency of the World Bank may be another sign of compliance with corruption, as the experiences of Karen Hudes reflects. I regard us as kindred spirits insofar as “whistle blowing” seems to be coursing through our veins.

[/URL]

Credit Ratings, NATO and Democracy: Too Big for Transparency?
by Karen Hudes
http://www.veteranstoday.com/wp-content/uploads/2013/03/Board-of-Governors3.jpg (http://www.veteranstoday.com/2013/03/25/the-world-bank-rejecting-the-rule-of-law/board-of-governors-4/)

Continue reading here: [URL]http://www.veteranstoday.com/2013/03/27/the-world-bank-rejecting-the-rule-of-law/

Dennis Leahy

28th March 2013, 14:51

Has this been posted yet?

So Long, Yankees! China And Brazil Ditch US Dollar In Trade Deal Before BRICS Summit

Source: http://www.ibtimes.com/so-long-yankees-china-brazil-ditch-us-dollar-trade-deal-brics-summit-1153415

By Ryan Villarreal | March 26 2013 5:49 PM

"China and Brazil agreed to trade in each other’s currencies just hours ahead of the BRICS summit in South Africa.

China Brazil
REUTERS

The deal, which extends over a three-year period and amounts to an exchange of about $30 billion in trade per year, marks the latest effort among two of the world’s largest emerging economies to shift the dynamics of international trade that have long favored the U.S. dollar.

"Our interest is not to establish new relations with China, but to expand relations to be used in the case of turbulence in financial markets," Brazilian Central Bank Governor Alexandre Tombini said, Reuters reported.

By shifting some trade away from the U.S. dollar, the world’s primary reserve currency, the two countries aim to buffer their commercial ties against another financial crisis like the one that resulted from the collapse of the U.S. housing market bubble in 2008.

"Trade ties between China and Brazil are of great importance to the two countries' economies amid global woes and the member states' economic stability is vital for the BRICS mechanism," said Zhou Zhiwei, a researcher with the Chinese Academy of Social Sciences, Xinhua reported.

Trade between China and Brazil has exploded in recent years from $6.68 billion in 2003 to over $75 billion in 2012, and in 2009, China replaced the U.S. as Brazil’s main trading partner."

Dennis

MorningSong

28th March 2013, 15:49

Here's some news from troubled Japan:

New BoJ chief slams Japan debt as 'abnormal'
Agence France-PresseMarch 28, 2013 06:15

The new head of the Bank of Japan on Thursday called the country's eye-popping national debt "abnormal" and warned that Tokyo must avoid a plunge in confidence among bondholders.

Japan is struggling with chronically anaemic growth while its ever-increasing debt mountain stands at more than twice the size of the economy.

That is the worst ratio among industrialised nations and one set to grow as a rapidly ageing population strains the social welfare system.

"It is abnormal when the debt stands at more than twice GDP, and it's not sustainable," central bank chief Haruhiko Kuroda told parliament.

"It is extremely important to maintain confidence in financial and bond markets," he added.

Most of Japan's debt is held domestically, allowing it to sidestep the kind of criticism levelled at Greece and other eurozone nations by foreign debtholders.

Kuroda, who was installed as BoJ governor last week, has pledged "all-out efforts" to rid Japan of its long-running deflation, which the Oxford University graduate previously branded as "abnormal" for a developed economy.

The 68-year-old former Asian Development Bank president was Tokyo's choice to lead the central bank as it tries to fuel growth and hit a two-percent inflation target.

The aim is to reverse years of falling prices that have crimped private spending and corporate investment.

The Bank of Japan holds its first policy meeting under Kuroda next week, with widespread expectations it will launch aggressive monetary easing measures to kickstart the world's third-largest economy.

http://www.globalpost.com/dispatch/news/afp/130328/new-boj-chief-slams-japan-debt-abnormal

Guess we'll be hearing more on this next week...

Jeffrey

28th March 2013, 16:40

---------------

Forget Cyprus, Japan Is The Real Crisis
by James Gruber | FORBES ASIA | 3/23/2013 @ 2:47PM

Forget Cyprus. A much bigger story in the coming weeks and months will be in Japan, where one of the greatest economic experiments in the modern era is about to begin. A country where government debt even dwarfs those of Europe’s crisis-ridden nations, Japan will attempt to inflate its way out of a 23-year deflationary spiral.

The overwhelming consensus among the world’s economists is that quantitative easing (QE) has saved the day in the U.S. and that Japan needs to follow suit, on a larger scale. I beg to differ and suggest this policy will almost certainly lead to a hyperinflationary disaster in Japan. If that’s right, it will have serious ramifications for other countries, dragged down by an acceleration of the so-called currency wars. More broadly though, it is likely to destroy the myth pushed by today’s economists that QE is a cure-all for downtrodden economies. It isn’t and Japan will become the template to prove it.

Monster stimulus on the way

The new Bank of Japan (BoJ) Governor, Haruhiko Kuroda, started work on Thursday and his first day on the job disappointed investors. At a press conference, Kuroda pledged to do whatever it takes to defeat deflation and reiterated the government’s target of 2% inflation. But he provided little in the way of specifics and investors promptly bought the yen and sold stocks.

More concrete measurers will almost certainly come by the central bank meeting on April 3-4. There are good odds that they may come even earlier via an emergency meeting of the bank.

It’s widely expected that the BoJ will expand its 101 trillion yen (US$1.06 trillion) asset buying program by more than 10 trillion yen. Also, it will start buying Japanese government bonds with remaining maturities of up to five years by scrapping the upper limit of three years by the end of April.

The idea behind the strategy is that you create money out of thin air, use that money to buy government bonds off private institutions and others, thereby increasing money supply and possibly inflation. Also, the institutions will start lending the money out, thereby kick-starting spending and the economy. That’s the theory anyhow.

[...]

Why Japan will fail

The subtitle indicates where I stand on the matter. Given its over-indebtedness, Japan has few good options left. But the policies being pursued by Shinzo Abe will fast-forward a major debt and currency crisis. It’s a matter of when, not if.

Government debt to GDP in Japan is now 245%, far higher than any other country. Total debt to GDP is 500%. Government expenditure to government revenue is a staggering 2000%. Meanwhile interest costs on government debt equal 25% of government revenue.

There’s no way that Japan will ever repay this debt. It has two main options: either go through extraordinary pain by cutting back on government expenditure or print substantial money to inflate some of the debt away.

Japan is choosing the second option, as are most governments around the world. It would rather print money than cut spending and doom the economy to a substantial contraction. The choice to print money though will result in an even more painful and drawn-out outcome.

It’s inevitable that the yen will fall further from here, potentially much further. I’ve previously said that the yen at 200 or 300 on the dollar would not surprise. This could prove optimistic.

It also seems inevitable that Japanese interest rates will rise and bonds will sell off. Yields have to rise to just 2% for interest costs on government debt to take up 80% of government revenue. The jig will be up well before that though.

Those that argue this won’t happen as 91% of Japanese government bonds are held by domestic investors are missing some key points. Foreign ownership of bonds is rising as domestic investors need more money to fund their retirements (Japan’s rapidly ageing population). Foreigners will demand higher yields for the risks that they’re taking on. And even domestic investors aren’t going to sit by earning 0.6% on a 10-year bond as hyperinflation takes hold and the currency tanks.

Currency wars to begin in earnest

Talk of currency wars has been on the backburner for a few months. Expect that talk to heat up and become a reality as Japan ramps up stimulus in the next two weeks.

The likes of South Korea and Taiwan are already suffering from the sharp fall of the yen. They, and many others such as Germany and emerging countries, aren’t going to sit by and watch their exporters get priced out of the market by the Japanese. They’ll retaliate with currency depreciations of their own and the currency wars will be on in earnest. But the question is whether these countries will be able to keep up with a hyper-inflating Japan. I highly doubt it.

Full article here: http://www.forbes.com/sites/jamesgruber/2013/03/23/japan-is-the-real-crisis/

---------------

The Stimulus Trap (http://lewrockwell.com/schiff/schiff212.html)

Abe’s Stimulus May Trigger Japan Default, Fujimaki Says (http://www.bloomberg.com/news/2013-01-15/abe-policies-may-trigger-japan-default-this-year-fujimaki-says.html)

Abe’s Japan Stimulus Plans in Jeopardy, Weinberg Says (http://www.bloomberg.com/news/2013-03-14/abe-s-japan-stimulus-plans-in-jeopardy-weinberg-says-tom-keene.html)

ThePythonicCow

28th March 2013, 17:04

The World Bank: Rejecting “The Rule of Law”
Spiritguide started up a separate thread on this Veteran's Today article, which now has a little bit of discussion going on it. You can find that thread at The World Bank: Rejecting “The Rule of Law” (http://projectavalon.net/forum4/showthread.php?57446-The-World-Bank-Rejecting---The-Rule-of-Law--) (where I have copied this post of Amzer Zo as well, as explained in my Post #5 (http://projectavalon.net/forum4/showthread.php?57446-The-World-Bank-Rejecting---The-Rule-of-Law--&p=654601&viewfull=1#post654601) over there.)

Jeffrey

28th March 2013, 21:19

Guess we'll be hearing more on this next week...

Between the Bank of Japan's next policy meeting and the escalating tension for war in Korea, it's looking like the first week of April could be really bumpy.

As of today: http://www.usatoday.com/story/news/world/2013/03/28/us-b-2-bombers-south-korea/2027607/

See also: Is the Yen Going Into a Free-Fall? (http://www.cnbc.com/id/100535925)

ThePythonicCow

28th March 2013, 21:50

See also: Is the Yen Going Into a Free-Fall? (http://www.cnbc.com/id/100535925)
Short term, for the last few weeks, the Yen has actually been holding steady against the US Dollar.

Prior to the 2008 crash, the exchange rate between the Yen and Dollar was pretty steady, at about 0.8 US cents (1/100 of a US Dollar) per Yen.

Then from the 2008 crash through October of 2012, the Yen gained strength, up to 1.2 US cents per Yen.

Then from October 2012 through last month, February 2013, the Yen lost about half of that gain, getting back down to about 1.0 US cents per Yen.

From Feb 6, 2013 through today, Mar 28, 2013, the exchange rate has gone from 1.07 cents to 1.06 cents ... almost flat (with some modest ups and downs.)

See further http://www.indexmundi.com/xrates/graph.aspx?c1=JPY&c2=USD&days=5475

Jeffrey

28th March 2013, 21:59

--------------------

Why Japan Is Keeping Quiet on the Yen
Published: Wednesday, 27 Mar 2013 | 1:19 AM ET
By: Dhara Ranasinghe

After talking their currency down 20 percent over the past four months, Japanese policymakers have suddenly gone silent as the yen halts its dramatic fall. Why?

Japan watchers give two possible reasons for this silence. It could be because of heightened international criticism over Japan's verbal intervention to weaken the yen and second the policymakers may be waiting to see what impact the currency's rapid weakening is having on the economy.

"We're not seeing the direct, verbal attacks on the yen anymore and that is important for the markets," said David Mann, head of regional research at Standard Chartered in Singapore, adding that the pace of depreciation in the yen was likely to slow as a result.

After its rapid decline the yen has regained some lost ground – it is up 2 percent from a 3-1/2 year low of 96.70 per dollar hit on March 12.

"It is an important point that the yen has weakened 20 percent, so it could be that there's now a wait-and-see approach to what the impact of that is, while being aware that they [Japanese officials] can't push the yen too far without attracting attention from policymakers around the world," Mann added.

[...]

"There are real implications for the yen – it's stopped dropping through the floor, partly I think, because Japan has curbed its comments," [Moody's Analytics Senior Economist Glenn Levin] added.

[...]

Analysts expect the yen to weaken beyond the 100 level per dollar in coming months but say the pace of decline is likely to be less marked than it has been.

[...]

Indeed, with Japan's central bank poised to embark on a more radical monetary policy than it has done in the past, the outlook for yen weakness remains, analysts said. The Bank of Japan's (BOJ) new chief said on Tuesday the central bank would purchase longer-dated government bonds to beat deflation.

"I look for the two meetings of the BOJ in April to push the yen to 100 per dollar and by the summer we'll be at 110 and then the Japanese will say that's enough," Napier said. "What Japan has to do then is lock in the yen's declines by taking the yen out of the safe-haven currency list and the way they do that is by threatening the market with infinite supply and intervention."

Developments over the past week are a good example of how the yen is perceived by investors, who snapped up the currency amid jitters about the fallout from a financial crisis in Cyprus.

The implication here is that the apparent silence on the yen from Tokyo now could come to an end if the safe-haven currency starts to strengthen further, derailing the downward move that Japanese policymakers are hoping will help kick-start the economy.

--------------------

Full article here: http://www.cnbc.com/id/100594712

Jeffrey

28th March 2013, 23:06

About a week ago, on Doug Hagmann's show, financial insider "V" stated that before the first big domino falls (Japan's economy) we would see a massive cyber attack on banks that would effect the world markets.

Here is what he said:

This is all a set up […] Before the big pop happens, you're going to see a massive bank hack […] That hack is going to wipe out a lot of accounts […] and they're going to play it off as some sort of [excuse to enforce?] a capital control.

Now, there is an issue surfacing that could end up matching what "V" had stated last week. We know it has affected online banking (and the internet in general), but it's not over yet and we're not sure to what degree it will affect banking (i.e. just slow connections with online banking, or actually hacking bank accounts).

See this thread here: http://projectavalon.net/forum4/showthread.php?57443-Cyber-attack-in-Europe

See also: The Nato bunker deep in Netherlands forest where hackers 'almost brought down world's internet in biggest every cyber-attack' (http://www.dailymail.co.uk/sciencetech/article-2299999/REVEALED-The-Nato-bunker-deep-Netherlands-forest-hackers-brought-worlds-internet-biggest-cyber-attack.html)

This is something to watch (along with info in next post).

Jeffrey

29th March 2013, 15:30

Dennis Leahy

29th March 2013, 16:38

The cyberattacks would thus make sense as an "inside job": scrubbing data, hiding the cyber "paper trail."

Next, we'll hear that ***somehow*** {wink, wink} the data backups failed.

Dennis

Flash

29th March 2013, 16:51

at the same time, since attack on Iran are fading, it is Korea that is showing up on the map. Haven't i read somewhere that the third world war would start with a surprise attack from a surprise place, not expected?? years ago I read this somewhere.

Second, the economy is in a shamble, and one way to put it up is making a war.

Third, before doing so, you erase money manipulation traces through bank software attacks, so that after a war, nothing is traceable (isn't it what was almost done after ww1, although less successful because not electronic) Destroying data instead of stealing is the major culprit in erasing previous stealiing.

fourth, you make sure everybody is brainwashed into a war and make them scared. You also eliminate a part of the population through germs warfare, while we are at it.

fifth, If all of the above does not work and people are not frighten enough to keep control of them, you introduce aliens invasion

1,2 and 3 are definitely linked together and now being implemented. 4 and 5, not sure. I feel paranoid since yesterday, so this goes with my mind today lol

Jeffrey

29th March 2013, 18:09

I really can't believe this thread has fallen to the fourth page. It should be a sticky, at least through April.

----------

About a week ago, on Doug Hagmann's show, financial insider "V" stated that before the first big domino falls (Japan's economy) we would see a massive cyber attack on banks that would effect the world markets.

Here is what he said:

This is all a set up […] Before the big pop happens, you're going to see a massive bank hack […] That hack is going to wipe out a lot of accounts […] and they're going to play it off as some sort of [excuse to enforce?] a capital control.

[...]

Newest Cyberattacks On US Banks Are Destroying Data Rather Than Stealing It

Read more: http://www.businessinsider.com/cyberattacks-erase-data-of-us-banks-2013-3#ixzz2OwX7sHqX

US Banks Hit By Largest Cyber Attack Ever (But Won't Admit It)

Often denial of service attacks "can be a diversion," says Dave Ostertag, a computer security expert and a global investigation manager with Verizon. At the same time, criminals might be trying to extract financial information from a bank using a variety of different techniques, he says.

Read more: http://seekingalpha.com/instablog/530398-itrax/1700421-us-banks-hit-by-largest-cyber-attack-ever-but-won-t-admit-it

The cyberattacks would thus make sense as an "inside job": scrubbing data, hiding the cyber "paper trail."

Next, we'll hear that ***somehow*** {wink, wink} the data backups failed.

Dennis

Latest ...

---------------

Amex latest U.S. major bank to get knocked offline
Byron Acohido, USA TODAY 11:02a.m. EDT March 29, 2013

SEATTLE – The denial of service attacks that knocked American Express' online banking systems out of service for a few hours on Thursday and Wells Fargo's web sites on Wednesday appeared to be a recurrence of similar attacks that bedeviled several large U.S. banks last fall.

"If you ask the targeted financial institutions, and the customers who cannot access these online services, these attacks are more than a mere nuisance," says Paul Ferguson, vice president of threat intelligence at security firm Internet Identity. "Plus, it is not cheap to try to mitigate these
attacks and try to keep these services running."

Security experts say the American Express caper appears to have been carried out by a group referring to itself as the Izz ad-Din al-Qassam Cyber Fighters, which has previously claimed responsibility for so-called denial-of-service attacks against JPMorgan Chase, Bank of America, CitiBank and SunTrust dating back to last September.

Amex spokeswoman Amelia Woltering says the company's online banking services were disrupted for about two hours. "We experienced intermittent slowing on our website that would have disrupted customers' ability to access their account information," Woltering says. "We had a plan in place to defend against a potential attack and have taken steps to minimize ongoing customer impact."

She added that there was "no evidence that customer data was compromised."

The Reuters news service reported that the Wells Fargo attack only affected Wells Fargo's consumer-facing website. In the caper, there was also no evidence any customer data got compromised.

The Izz ad-Din al-Qassam Cyber Fighters have claimed to be exacting retribution for a public airing of a video depicting Muhammad as a fraud, a womanizer and a madman reportedly funded by U.S.-based donors.

However, denial of service attacks -- which direct thousands of infected home computers or web servers to send nuisance messages to the targeted web site, thus cutting off access -- have become a tool used by ideologues of many different stripes. A major attack directed at the e-mail spam filtering organization SpamHaus appears to have slowed Internet access slightly across Europe this week.

The Keynote Performance Index, which measures Internet access speed, recorded up to 40% slower than average connection speeds across Europe between 8:30 a.m. and 2:30 p.m., Pacific time on March 26.

"It is possible that the SpamHaus attack could be related to this slowdown but we can't be sure," says Keynote spokeswoman Ann O'Leary. She says video streams of a big soccer match between France and Spain might have also contributed to bogging down the Internet.

The SpamHaus attack has been blamed on Russian spam gangs upset with SpamHaus for blocking spam traffic from a Dutch web hosting company.

The SpamHaus attackers used an unusual technique. They spoofed Spamhaus's IP addresses sending traffic to servers that they knew would respond to this traffic, and these servers dutifully send their responses back to Spamhaus' servers, says David Gibson, vice president of strategy at security firm aronis

"To make matters worse, the responses are much larger, in terms of size, than the stimulus," says Varonis. "This means that for every packet of stimuli, there are many more response packets."

Meanwhile, last week attackers managed to incapacitate 32,000 computers at South Korea's banks and television networks. Authorities are examining North Korea's possible involvement, according to the Globe and Mail.

Because of the Internet's complex interconnections -- and the fact that it is simple for hackers to take control of tens of thousands of Internet-connected machines -- denial of service attack to disrupt or deface corporate and government websites are expected to continue.

"There is no indication that there is an end in sight, unless we can somehow figure out who the real actors are and possibly get them arrested, or somehow figure out some technical way to make it stop," says Ferguson.

Source: http://www.usatoday.com/story/tech/2013/03/29/american-express-denial-of-service-hack/2030197/

---------------

See also: The Year of the Hack (2013) (http://news.yahoo.com/survive-hack-175828144.html)

Steve Quayle has also just posted a rather grim warning. I think it is worth noting considering whats been happening lately.

http://www.stevequayle.com/index.php?s=33&d=334

Marianne

29th March 2013, 19:13

I just stickied this thread.

Jeffrey

29th March 2013, 20:04

Has this been posted yet?

So Long, Yankees! China And Brazil Ditch US Dollar In Trade Deal Before BRICS Summit

Source: http://www.ibtimes.com/so-long-yankees-china-brazil-ditch-us-dollar-trade-deal-brics-summit-1153415

They (BRICS) are making their move(s) it seems.

In 2011, China became the world's second largest economy.

Rosneft is now the largest oil producer in the world (in which China is invested).

Russian owned OAO Gazprom just agreed to supply China with natural gas, making China the largest importer of Russian gas.

China and Brazil are now "shifting some trade away from the US dollar" as per their the recent trade deal.

As of today, Russia and China announced that they are going to begin trading against each other's currencies (http://www.ibtimes.com/china-russia-currency-agreement-further-threatens-us-dollar-248338) in the interbank market, further distancing themselves from using the US dollar in international trade.

A few weeks ago, the HSBC bank announced that it would soon be enacting further measures to push the yuan ahead in it's goal to become the next world reserve currency.

Russia, South Africa plan OPEC-type cartel for platinum and palladium.

Russia, China, and India have been buying up massive amounts of gold lately, apparently in anticipation of a global economic shift (/collapse of the US dollar).

The dollar will slowly collapse on it's own bar a trigger event ... such as Japan's economy tanking (or a number of other things). This trigger would collapse the yen. Then possibly the euro, the pound, the dollar -- the worlds largest trading currencies.

Paving the way for ... what? The yuan? The bitcoin?

Wasn't Japan recently set to be the largest foreign holder of US debt? I know they are right up there with China.

I still have a lot to learn here. :)

*UPDATE/ADD: Australia wants to cut US dollar out of trade deals with China

PathWalker

29th March 2013, 20:23

Security experts say the American Express caper appears to have been carried out by a group referring to itself as the Izz ad-Din al-Qassam Cyber Fighters, which has previously claimed responsibility for so-called denial-of-service attacks against JPMorgan Chase, Bank of America, CitiBank and SunTrust dating back to last September.

"There is no indication that there is an end in sight, unless we can somehow figure out who the real actors are and possibly get them arrested, or somehow figure out some technical way to make it stop," says Ferguson.

These news are very dangerous for the too big to fail institutes.
If the news get to the public it will undermine the public trust in the financial institutes availability.
Let see how the controlled MSM handles this, if at all.

I have strong indication that this is another move in the financial war, nothing to do with "public" politics.
Surely lots to do with terror/fear mongering.

It is interesting how the wheel comes around the terror tactics come back to the perpetrator.

Is this Karma or what?

ThePythonicCow

29th March 2013, 21:03

Third, before doing so, you erase money manipulation traces through bank software attacks, so that after a war, nothing is traceable (isn't it what was almost done after ww1, although less successful because not electronic) Destroying data instead of stealing is the major culprit in erasing previous stealiing.
A lot of that happened on 9/11 of 2001 ... key records of major bank fraud investigations were kept in the World Trade Center buildings, and the investigation of the trillions "lost" by the Pentagon kept its records (and key people) in a certain corner of the Pentagon ... guess which corner.

Jeffrey

29th March 2013, 21:08

Jeffrey

29th March 2013, 21:14

Hey folks, check this one out.

---------------

Bitcoin Exchange Mt. Gox Targeted by Cyber Attack
By Matt Egan | Published March 29, 2013 | FOXBusiness

http://www.fbnstatic.com/static/managed/img/FB/Computer-Password-Security-Hacker.jpg

Just as Bitcoin explodes beyond the $1 billion mark thanks to Europe’s debt crisis, the emerging virtual currency was dealt a setback this week after a key exchange was hit by a powerful cyber attack that caused delays.

Coupled with other recent technical glitches, this week’s distributed denial of service (DDoS) attack against Bitcoin exchange Mt. Gox cuts into one of the electronic currency’s greatest selling points: its relative safety compared with deposits in Cyprus.

In a message posted on its official Twitter account, Japan-based Mt. Gox told users Thursday night it was “experiencing a major DDoS” attack. Within hours Mt. Gox said the issue had been resolved.

The exchange didn’t respond to a request for further comment on the DDoS attack.

According to the Mt. Gox website, it is the “world’s most established Bitcoin exchange” and the only multi-currency Bitcoin trading platform.

"This attack demonstrates both the worth of Bitcoin and the value of its business availability. Now there are new risks to both,” said Carl Herberger, vice president of security solutions at Radware (RDWR).

Earlier this week payments startup Dwolla, which is also used to trade Bitcoins, suffered from an apparent DDoS attack as well.

Established in 2009, Bitcoin has emerged as a winner in the controversy surrounding Europe’s decision to “bail in” bank depositors in Cyprus to pay for a rescue of the tiny island country’s outsized banking system.

The virtual currency is built on an open-source software code and unlike traditional currencies is highly decentralized, making it appealing to those worried about the safety of the monetary system. Bitcoin also says its accounts can’t be seized by local authorities, setting it apart from bank deposits in Cyprus.

Underscoring the surge of activity in the virtual currency, one Bitcoin traded as high as $93.06 on Friday, up a whopping 125% from the beginning of March. The value of Bitcoins outstanding has also now surpassed the $1 billion threshold.

Bitcoin “is clearly having a breakthrough moment here, and a deeply surprising one given its novelty and nascent infrastructure,” Nicholas Colas, chief market strategist at ConvergEx, wrote in a recent note.

However, Bitcoin has also faced technical glitches, including one on March 12 that caused the currency’s value to briefly tumble 23% before recovering.

“Bitcoin is of course wholly dependent upon the functioning of the Internet,” said Daniel Friedberg, a financial-services attorney at Seattle law firm Graham & Dunn who has a Bitcoin client base.

“Users of Bitcoin are not used to any ‘down time’ and have grown accustomed to being able to immediately convert the Bitcoin virtual currency into real legal tender, 24 hours a day, 7 days a week. Any disruption at all creates customer complaints,” he said.

Bitcoin isn’t alone in grappling with cyber attacks. Hacktivists have increasingly set their sets on the U.S. financial system, slowing access to the websites of big banks like J.P. Morgan Chase (JPM) and Bank of America (BAC) in recent months.

Earlier this week Wells Fargo (WFC), the largest U.S. bank by market capitalization, acknowledged its consumer banking website was the victim of a DDoS attack.

Source: http://www.foxbusiness.com/technology/2013/03/29/bitcoin-exchange-mt-gox-targeted-by-cyber-attack/

Limor Wolf

30th March 2013, 02:02

What is going on here seems like a fascinating ping pong game, the spectators are moving their gaze from left to right and back again in anticipation.

History shows again and again that those who are pulling the strings are always invested in both sides, whether the 'victim' is politics, wars, conflicts and so on, it might be quite reasonable to assume then that economy, which is their own exclusive invention is part of this same dish. Therefore, the wise thing to do, may be, to take one step backwards and not be that (mentally) invested in the game. Much like when reviewing US elections, It's worth taking a distant vantage point which is a lot more based on the broader perspective than the macro. Yes, the details and conequences will have great impact on our lives, but now it is time to leave the failing systems which are based on forgery and get ourselves acquainted with the real economy of the world which is FREE ENERGY. Not the oily one, not the financial one, but the one which is free for everyone to use. with our intentions and focus we will be able to overcome this breaking of the old systems, dependent on how much we are emotionally invested in this ping pong game. Let's watch the game, but let's not invest ourselves in it, is my advice. The winners will be losers and the losers will be winners, and while our gaze is directed only to what happens in the ring, we may be missing the new ideas that can establish and replace the old and failing systems. I would like to see a think tank which is much more focused on that in the alternative financial media. free thinking and free energy and being creative is the real economy, from there new things may grow.

My 2cent
(or maybe just a free format thinking)

kanishk

30th March 2013, 09:07

Has this been posted yet?

So Long, Yankees! China And Brazil Ditch US Dollar In Trade Deal Before BRICS Summit

Source: http://www.ibtimes.com/so-long-yankees-china-brazil-ditch-us-dollar-trade-deal-brics-summit-1153415

They (BRICS) are making their move(s) it seems.

In 2011, China became the world's second largest economy.

Rosneft is now the largest oil producer in the world (in which China is invested).

Russian owned OAO Gazprom just agreed to supply China with natural gas, making China the largest importer of Russian gas.

China and Brazil are now "shifting some trade away from the US dollar" as per their the recent trade deal.

As of today, Russia and China announced that they are going to begin trading against each other's currencies (http://www.ibtimes.com/china-russia-currency-agreement-further-threatens-us-dollar-248338) in the interbank market, further distancing themselves from using the US dollar in international trade.

A few weeks ago, the HSBC bank announced that it would soon be enacting further measures to push the yuan ahead in it's goal to become the next world reserve currency.

Russia, China, and India have been buying up massive amounts of gold lately, apparently in anticipation of a global economic shift (/collapse of the US dollar).

The dollar will slowly collapse on it's own bar a trigger event ... such as Japan's economy tanking (or a number of other things). This trigger would collapse the yen. Then possibly the euro, the pound, the dollar -- the worlds largest trading currencies.

Paving the way for ... what? The yuan? The bitcoin?

Wasn't Japan recently set to be the largest foreign holder of US debt? I know they are right up there with China.

I still have a lot to learn here. :)

I want to know,

Then price of GOLD and SILVER in BRICS countries will increase in relation to other commodities (means will it be good for them to invest in these precious metals)?

Or just the Purchasing Power Parity PPP of the currencies of BRICS countries will increase in relation to the other currencies?

Jeffrey

30th March 2013, 20:04

TZeClrqgMDM

PathWalker

30th March 2013, 20:14

TZeClrqgMDM

1. RT is the voice of the Russian government read this thread. Who is Russia Today (RT) And Should We Care? (http://projectavalon.net/forum4/showthread.php?57285-Who-is-Russia-Today--RT--And-Should-We-Care&p=652757&viewfull=1#post652757)
2. The speakers are not just informative they have an apparent agenda.

Jeffrey

30th March 2013, 20:18

I don't think you watched the video, because you posted a response 10 minutes after the video was posted and it's over 20 minutes long.

It's an informative video that hopefully will spark an interest to dig further into the actual topic.

I think most news stations have an agenda, that's why it's up to the viewer to follow-up with a little bit of investigation.

--------------------

http://blogs-images.forbes.com/greatspeculations/files/2013/02/COM-Central-Bank-Gold-Buying-48-year-high-021520134.gif

Currency Wars: ‘Race to Debase’ spurs central banks’ gold-buying spree (http://www.bworldonline.com/content.php?section=Beyond&title=Currency-Wars:-‘Race-to-Debase’-spurs-central-banks’-gold-buying-spree&id=67694)

China 'fully prepared' for currency war (http://www.telegraph.co.uk/finance/china-business/9904512/China-fully-prepared-for-currency-war.html)

China's Gold Reserves: Watch What They Do, Not What They Say (http://www.zerohedge.com/contributed/2013-03-18/chinas-gold-reserves-watch-what-they-do-not-what-they-say)

Russian gold/fx reserves rise to $522.4 billion (http://www.reuters.com/article/2013/03/28/russia-reserves-idUSR4E8CV01620130328)

PathWalker

30th March 2013, 21:01

I don't think you watched the video, because you posted a response 10 minutes after the video was posted and it's over 20 minutes long.

1. Usually I do not watch, I listen.
2. I just completed glistening to the whole interview. Including the last part about the Chines currency war.
3. I respect and promote the views delivered.
4. Yet I am aware the information is biased and filled with hidden interests (actually all published information).

ThePythonicCow

30th March 2013, 21:47

Max Kieser ...
Max quotes Jim Rickards as saying that gold will go to $10,000/ounce.

May I suggest that's not the best way to express this.

I would suggest that the US Dollar will go to 1/10,000-th of one ounce of gold :).

ThePythonicCow

30th March 2013, 22:22

I don't think you watched the video, because you posted a response 10 minutes after the video was posted and it's over 20 minutes long.
I just completed glistening to the whole interview. Including the last part about the China's currency war.
But was Vivek right, in that you had not listened when you first posted, slamming RT, with comments little related to the substance of the video?

Jeffrey

30th March 2013, 22:50

From what I've read and how it's looking the more I dig:

China isn't being truthful about how much gold they actually have. Trends projected them as having amassed at least 2,000 tons, if not double that. Yet, they recently stated that their reserves haven't changed much the last few years. This is difficult to accept.

Their goal is to reach 10,000 tons in order to better position the yuan as the new world reserve currency.

Apparently, if they told the world that they had doubled their reserves, then gold prices would have shot up like they did the last time such an announcement was made. They would have effectively shot themselves in the foot. They don't want gold prices to go up until they've met their mark. Russia might be smudging their numbers too.

Also, Wilcock says they have millions of tons!

Either way, I definitely think they have more than they say they do.

... financial warfare. It's all part of some strategy.

Jeffrey

31st March 2013, 01:15

-------

Good compilation here...

lVqAIPPjN6c

Jeffrey

31st March 2013, 16:59

JqD3funyr_M

Really good summation pertaining to recent events.

GlassSteagallfan

31st March 2013, 18:10

Latest from Jim Willie:

This is a 50 minute interview that is well worth listening to.

What will the Russians do for retaliation against the EU for trying to steal their money?
How are Russia and China working together?
The future of the EU?
The Iceland solution
The gold and silver prices and what they premiums are in reality in other countries?
The dollar and U.S. becoming 'Third World'.
The Eurasian Trade groups.
China and Africa
All of the above plus more discussed in the interview. (audio only)

http://www.youtube.com/watch?v=P5OBHqQkiAI&feature=player_embedded
http://www.youtube.com/watch?v=P5OBHqQkiAI&feature=player_embedded

kanishk

1st April 2013, 07:58

Somebody has animated what will happen 12 hours after US dollar collapse. Video uploaded 1 year ago.
t6SmRz3y4ps

In this video with someone used clips from GI Joe to show how first Gold standard is established and then again it will be converted into the same debt dependent currency system and the single currency for whole world.
l7_4phuurzk

'U.S. Threatens To Punish India With Sanctions For Ignoring Iran Oil Embargo Call'
Then India responds that it will use Gold to buy Oil from Iran

I7u6NLT6SMw

CHINA beats U.S. becomes Worlds Biggest Trader - RUSSIA Becomes Biggest Buyer of GOLD
https://www.youtube.com/watch?v=TiIYzNE-Qb4

From last 2-3 years Gold loan is advertised too much in India(Mannapurna Gold loan). So the gold loan is very easiest one to get.

From YouTube video in Hindi Ways to use Gold lying in India http://www.youtube.com/watch?v=uNK5oUIHD7U
Suggestion by Committee of Reserve Bank of India on Gold

Gold import duty is increased to 6% from 4%,
To import huge quantity of gold and their should be an export agreement too,
To extract Gold from households, gold bank will be created,
Gold in MFs and ETFs should be utilized,
If required gold imports limits of banks can be decreased,
No loan will be given to banks to import gold,
Gold related Financial Products giving good returns should come,
Schemes like Inflation Index Bond, Gold Accumulation scheme,
Request for Gold pension products and gold linked account,
Tax benefit on products that will decrease the demand of gold,
Suggestion to promote gold loan through banks,
Unlimited loan on Gold Jewellery and Coins..

India to consider gold import restrictions
https://www.youtube.com/watch?v=M8IuW773z-A

No global currency war yet: Indian finance minister ??
https://www.youtube.com/watch?v=jmIZcxYcExY

MorningSong

2nd April 2013, 10:08

IMF's proposal to impose an additional gasoline tax in the US.... "in order to pay for social programs around the world and help the environment".

The national average for a gallon of gasoline is currently at $3.65. On top of that sky-high price, the International Monetary Fund has now proposed that the U.S. should impose a tax of $1.40 per gallon in order to pay for social programs around the world and help the environment.

Neil Cavuto discussed this proposal with FBN's Charles Payne, who said sometimes you hear things and you just have to ask, "Are you nuts!?"

FTpo7t4YzD4

PathWalker

2nd April 2013, 10:36

GlassSteagallfan

2nd April 2013, 15:51

Dennis Small of LPAC talks about Cyprus and the western banking system "bail-ins" policies on April 1st, 2013

...and the urgent need for Glass-Steagall reform

http://www.youtube.com/watch?v=uIQ5Kyyf0RE
http://www.youtube.com/watch?v=uIQ5Kyyf0RE

ThePythonicCow

2nd April 2013, 16:58

IMF's proposal to impose an additional gasoline tax in the US....
The IMF is not a proper taxing agent in the US.

This is another step towards world government, world money,
world policing and military, world intelligence, world taxing,
world control, ...

http://thepythoniccow.us/NotOneRedCentForWorldGovernment.jpg

Flash

2nd April 2013, 17:03

At least you still have the one "red" cent in the US. In canada, we are now at 5cents rounding up, not more 1 cent.

So, not one 5 cents to world government.

Jeffrey

3rd April 2013, 05:36

Jeffrey

4th April 2013, 02:00

----------

Bank Website Attacks Reach New High: 249 Hours Offline in Past Six Weeks (http://silveristhenew.com/2013/04/03/bank-website-attacks-reach-new-high-249-hours-offline-in-past-six-weeks/)

See also: http://www.kcentv.com/story/21866797/bank-website-attack

Dennis Leahy

4th April 2013, 02:37

Thanks, World Reserve Currency, But No Thanks: Australia And China To Enable Direct Currency Convertibility

ZeroHedge article March 31, 2013:

"A month ago we pointed out (http://www.zerohedge.com/news/2013-02-26/goes-china-so-goes-world-and-definitely-australia)that as a result of Australia's unprecedented reliance on China as a target export market, accounting for nearly 30% of all Australian exports (with the flipside being just as true, as Australia now is the fifth-biggest source of Chinese imports), the two countries may as well be joined at the hip.

Over the weekend, Australia appears to have come to the same conclusion, with the Australian reporting that the land down under is set to say goodbye to the world's "reserve currency" in its trade dealings with the world's biggest marginal economic power, China, and will enable the direct convertibility of the Australian dollar into Chinese yuan, without US Dollar intermediation, in the process "slashing costs for thousands of business" and also confirming speculation that China is fully intent on, little by little, chipping away at the dollar's reserve currency status until one day it no longer is."
Source: http://www.zerohedge.com/news/2013-03-31/thanks-world-reserve-currency-no-thanks-australia-and-china-enable-direct-currency-c

Not a rosy scenario if your pieces of paper rely on the US currency having value.

Dennis

tnkayaker

4th April 2013, 04:41

well penn i would like to know this stuff also, from what i know and have heard from a few source, it is created online and managed online, but u cant put u hands physically on it, so why would someone put their cash into a unit of trade that isnt really tangible? , thats just my take on it, i feel the fever for this unit of trade is being backed by alternative sources to just that- create a fever for this new unit of trade...who knows how stable it is? who knows how many may be produced, who controls it? how is it governed? what backs this unit of trade to make it worth anything at all? i am a bit suspicious but it seems this may be a new unit of trade to test the water so to speak to see if a new unit might catch on, then transferring our money to this unit of trade may be just one click away, regardless if we want to exchange to this new unit or not, scary if u ask me, why now? right when there is a ton of non-stability in the economy and banking industry , u know? i dunno just sayin, be careful and be educated, stay well bud, peace,dennis

¤=[Post Update]=¤

jesus, i can see it now....

ThePythonicCow

4th April 2013, 04:50

.who knows how stable it is? who knows how many may be produced, who controls it? how is it governed? what backs this unit of trade to make it worth anything at all? i
Those of us who can read the design paper, can understand the math and the cryptology involved, and read the code and see it does what it purports to do ... those people can know.

The other 99.92% of the population just has to take it on faith I suppose, trusting some geek's word.

araucaria

4th April 2013, 07:48

Here in France a whole can of worms has been opened by Jérôme Cahuzac, the former minister responsible for dealing with tax fraud admitting to being a tax fraudster to the tune of € 600,000 in a private bank account in Switzerland. We ought to find out whether this former cardiologist got his money from hair implants or from his later dealings with big pharma. More interestingly perhaps, the Swiss seem somewhat inclined to moralizing their banking system by weeding out clients who are breaking the law in their own country. We shall see.

http://www.guardian.co.uk/world/2013/apr/03/hollande-denies-covering-up-tax-tsar
http://www.guardian.co.uk/world/2013/mar/19/french-budget-minister-resigns
http://www.lemonde.fr/politique/article/2013/04/04/les-liens-de-cahuzac-avec-les-laboratoires-pharmaceutiques-a-la-loupe-des-enqueteurs_3153277_823448.html

Referee

4th April 2013, 08:26

Very Relevant Show today from DR. Bill Deagle

woTdFosuZ5o

059O0LDBAng

Jeffrey

4th April 2013, 17:15

Bank of Japan meets today under new leadership ... expecting announcements of massive QE measures and new monetary easing policies. The word is that Kuroda is Japan's new Bernanke.

Bank of Japan adds to easing; yen falls sharply (http://www.marketwatch.com/story/bank-of-japan-adds-to-easing-yen-falls-sharply-2013-04-04)

Kuroda Leads Japan Down Bernanke Path With Unprecedented Easing (http://www.bloomberg.com/news/2013-04-04/kuroda-leads-japan-down-bernanke-path-with-unprecedented-easing.html)

Japan Gets A Jolt As Kuroda Goes With Q.E. That Would Make Bernanke Blush (http://www.forbes.com/sites/johndobosz/2013/04/04/kuroda-goes-with-massive-quantitative-easing-japan-gets-a-jolt/)

2zu-hvTxTv8

Jeffrey

4th April 2013, 18:18

Please, take the time to watch this video (http://pro.stansberryresearch.com/1303EOASALYN/PPSIP437/). Then, come back and re-read the information in this thread.

Especially if you live in America. Get up to date and up to speed. This is the most immediate thing happening right now, aside from the war fronts in Korea and the Middle East.

When it happens, which will be soon, you're going to have a really difficult time with things that seem plentiful and readily accessible now.

You think you're spiritual pursuits won't be affected by this? Do you really think that when this happens you'll be able sustain yourself on air and sunshine? You know, I hear a lot about manifesting your own reality. Well, how do you think your going to manifest some food to eat when this happens?

You're not going to wish it into existence. That future manifestation begins now -- cause and effect. The Merovingian has a point in this case.

Even if you are mentally and emotionally prepared, that's not going to put food in your stomach or water in your glass. Action needs to be taken now in order to lessen the hardships that will come.

At least go out and buy some silver, get a backup generator, and a water purifier. If you don't think this is immediate, then by all means, put it off.

Don't put off making a plan though, and putting it on paper.

Shake off your normalcy bias. You think you're awake?

TargeT

4th April 2013, 20:34

Shake off your normalcy bias. You think you're awake?

Move somewhere warm & grow your own food.. except for CORN the US imports most it's food, we don't produce anything... that video was a real eye opener. good post Vivek.

I think we have 1-2 years before it gets stupid bad (at current pace) if something like a trigger event happens...... (Japan) we are screwed.

Jeffrey

5th April 2013, 01:10

I think we have 1-2 years before it gets stupid bad (at current pace) if something like a trigger event happens...... (Japan) we are screwed.

My thoughts exactly. It's looking like things may be speeding up ahead of what they have planned. As far as the NWO goes. At the latest, I see the 2016 time window as when they would have been fully prepared. Their technology would have been at a comfortable point for them (surveillance, data-centers, robotics, UAVs/MAVs, RFIDs, etc), more states would probably have enacted more ridiculous gun laws (approaching the federal level), and they would have had more time to weaken the dollar (financially wiping out the middle class with new QE and further monetary easing). They have already done a horrendous amount of damage as it is.

The trigger event is what may prematurely knock over the house of cards (i.e. a few more EU countries going under, or a really big economic country like Japan falling).

A lot of the military-industrial-intelligence funded projects are set to be finished around 2016 (the really concerning ones). Things seem to be speeding up though lately. It's peoples awareness about the situation that is speeding up too.

That's the other wild card. How many people are on to them. They can only hide the stink for so long.

ThePythonicCow

5th April 2013, 06:22

ThePythonicCow

5th April 2013, 06:59

Bank of Japan meets today under new leadership ... expecting announcements of massive QE measures and new monetary easing policies. The word is that Kuroda is Japan's new Bernanke. All this amidst what's happening on the financial front in Europe and the war front in North Korea.

Plus, Iran announced it would comply with UN/US/Israeli demands and keep it's enriched uranium under 250 kilos -- Netanyahu's red line. Sounds fishy, I wonder if its connected with what's happening in the Pacific.

I hear thunder.

Yeah - I hear thunder too. Perhaps the promises a few days ago by Haruhiko Kuroda, the new Bank of Japan governor, of massive quantitative easing to drive Japanese inflation to 2% and weaken the Yen are having a not too surprising effect -- the sharp weakening of the Japanese bond market that I just posted above.

ThePythonicCow

6th April 2013, 01:50

Vivek dropped this link in my Visitor Messages a few days ago: Jim Willie’s “Most Important Article Ever”- USDollar: Ring-Fenced & Checkmate (http://silverdoctors.com/jim-willies-most-important-article-ever-usdollar-ring-fenced-checkmate/). If you enjoy Jim Willie's up-yours attitude, it's an excellent read. He explains how the BRICSA (Brazil, Russia, India, China, and South Africa), plus soon enough other nations including Iran, Indonesia and (even) Saudi Arabia, Germany and the UK are in various ways isolating the US and its Dollar. Increasingly oil, gold, trade, infrastructure (rail, pipeline, refinery, shipping, ...) and financial institutions are being built up by the BRICS nations and their friends, leaving out the US, except in such ways as to trade US Treasury debt back for real assets. The US is being reduced to a third world power, stripped of its monetary hegemony.

Thanks, Vivek. I'd have missed that piece of Jim Willie, CB, had you not sent me that link.

Jeffrey

9th April 2013, 16:40

-----------

Comex Gold Inventories Collapse By Largest Amount Ever On Record

[...]

Over the last 90 days without any announcement, stocks of gold held at Comex warehouses plunged by the largest figure ever on record during a single quarter since eligible record keeping began in 2001 (roughly the beginning of the bull market).

[...]

Total drainage of physical inventories reached nearly 2 million oz.’s of gold, which at today’s prices represent roughly $3,000,000,000 dollars.

According to chart sage Nick Laird, this data indicates that, “Eligible stocks which are owned in LBMA/Comex good delivery form are being drawn down—which means they are being removed from the warehouses. As to how and why they are [being] removed, that is a mystery. [Up until now], eligible stocks were on the continual increase throughout the bull market. Now that trend has changed.”

What is most interesting in reviewing this chart data, is seeing where the largest drops have occurred. The largest inventory drainage is being reported from JP Morgan Chase & Scotia Mocatta warehouses. See charts below.

http://bullmarketthinking.com/wp-content/uploads/2013/04/jpmb-warehouse.jpg

JP Morgan Chase’s reported gold stockpile dropped by over 1.2 million oz.’s, or rather, a staggering $1.8 billion dollars worth of physical gold was removed from it’s vaults during the last 120 days.

http://bullmarketthinking.com/wp-content/uploads/2013/04/Scotia-Mocatta.jpg

Scotia Mocatta’s gold stockpile removals were nominal in size when compared to JPM’s, but registered in at over 650k oz’s of gold, or over $1 billion dollars worth of physical gold was removed from its vaults over the last 90 days.

Full article here: http://bullmarketthinking.com/comex-gold-inventories-collapse-by-largest-amount-on-record/

kanishk

9th April 2013, 19:52

World interest rates map
21092
21093
http://www.tradingeconomics.com/country-list/interest-rate

Jeffrey

10th April 2013, 00:45

8WPaGlQdgSk

kanishk

11th April 2013, 07:20

Some questions rise in my mind,

As central banks are trading gold and suppressing the price of silver,
will silver be used as a currency/medium of exchange immediately after market collapse or it will take time for silver to get its value in market after the market collapse?
Various news and articles who are discussing about dollar collapse talk about possibility of gold price hike but they do not talk about silver, why?
I am unable to find current Data On Silver. like current fabrication demand for silver, current scrap supply of silver, current net government sales in different countries, volume of investment in silver and current trades related to silver.

Central banks are extracting physical gold out of peoples hands, will paper gold lose its value suddenly after market collapse?

Referee

11th April 2013, 07:46

The Bail in coming to the Bank near you...

eW1Dqoar3Gs

kanishk

11th April 2013, 21:31

21110 21112

21111 21113

reference: http://www.lbma.org.uk/pages/index.cfm?page_id=50&title=clearing_-_statistical_table
www.lbma.org.uk/assets/Clearingstats20130328.pdf

kanishk

12th April 2013, 20:52

From http://www.resourceinvestor.com/2013/04/12/how-to-control-the-price-of-silver-and-other-strat?t=precious-metals

How to control the price of silver and other strategic commodities:

In summary, four key influences seem to be at play in creating artificially low prices in the silver market.

Outside Markets – these tend to have a deflationary influence, until suddenly they do not.
Physical Market – this has been surging ahead of and outside of the manipulated futures price.
Commercial Traders – these typically dominate the market and act as fronts for the manipulative central banks that are the so-called “not for profit” market participants often spoken about.
Tech Funds and Professional Traders – these players tend to be relatively stoic and inwardly focused. Their trading decisions are typically purged of all emotion and seem insensitive to the above factors.

Price Control - Here's How to Do It

First of all, investment banks need to be installed as commercial traders in the silver market. Then, allow major futures exchanges to self-regulate.

Next, establish a concentrated short position, whether hedged, or otherwise. Then encourage High frequency Trading and eliminate the human market makers with any sense of real value.

Welcome managed money that trades blindly and unemotionally based on technical indicators. This provides a universal status quo that is almost always wrong.

Encourage confusion between the concepts of correlation and causation.

Encourage turning a blind eye toward key pricing factors, such as:

Physical market tightness and surging demand ahead of falling prices that are the result of policy or price control. The manipulation allows paper silver to trade as if all the silver ever mined is sitting in vaults, just waiting for a magic fiat currency price to set it free.
Outside indicators. Take the most bullish indicator and completely reverse the logic. For example, claim that Central Banks are not buying silver because they only want to hold "real" money, which is actually just intrinsically worthless paper or electronic currency. Ignore the fact that they could not buy enough silver if they wanted to.

Insult insects by creating two extreme groups of zealots - silver bugs and gold bugs, and then incite war between them to further divide public perception on the subject of holding precious metals as an investment. After all, no one hates a silver bug more than (most, not all!) gold bugs who claim that silver bugs have the wrong metal and that gold is the only true money.

Silver is as Much the Canary as Gold

Silver may be in an even more attractive position for a rally than gold because of its COT structure that shows pronounced short futures positioning in concentrated hands.

Also, many developments in the financial markets tend to make holding silver look good. These include the Zero Interest Rate Policy or ZIRP, the LIBOR scandal, money laundering, the MF Global disaster, and the ongoing manipulation of CPI and jobs data to make the headline economic picture look much rosier than it really is.

Basically, the price of silver loves inflation. The almost 500% rally seen in the price of silver from October of 2008 to April of 2011 as the price rose from $8.44 to $49.77 was inflationary, and it was fueled by widespread concerns over a shaky financial system and the huge piles of money being printed to prop it up.

Furthermore, that was not just a minor short covering rally fed by blind-trading latecomer hedge funds. The rally in silver to a new all-time high was sufficiently threatening to be effectively halted and the market forced into a consolidation phase above the 26 level by a reverse Hunt, CME margin increase debacle.

As that key support level approaches once again, silver continues to look attractive as a long term investment.

PathWalker

13th April 2013, 21:03

From http://www.resourceinvestor.com/2013/04/12/how-to-control-the-price-of-silver-and-other-strat?t=precious-metals

[I]How to control the price of silver and other strategic commodities

Commodity markets are controlled by market makers whom follow their employer instructions, whom follow instructions as well.
All the instruction are oral and face to face.

How a market maker operates read this wikipedia controversial article (http://en.wikipedia.org/wiki/Market_maker).
I heard an interview with former market maker, the "free" market are rigged games since the introduction of fast computer communication into the markets.

PathWalker

13th April 2013, 21:20

I have just read this post (http://projectavalon.net/forum4/showthread.php?41059-Massive-Bank-and-High-Profile-Resignations-Across-the-World&p=661243&viewfull=1#post661243) in Sabrina's great thread, that is worth quoting here.

More on the gold story.

http://networkedblogs.com/Kelbx

John Ward – Gold, Greed & Collapse : Who Benefitted Most From Yesterday’s Spectacular Fall – 13 April 2013

What you see above isn’t just the tale of a horrendous day for gold – it fell $88, or just over 4%, in a day – it is the record of a fall that steepened the minute New York opened, twice tried (and failed) to rally, and yet managed to do all this on a day when the vast majority of fundamentals should’ve been pushing the price up, not down.

The one exception to this was the Troika demand on Thursday that Cyprus sell its gold to help pay off debt. I have two observations to make about that: one, why do that to Cyprus now and not to anyone else before? And two, on paper it didn’t look like the sort of volume to start a gold freefall.

This is a murky business, so we need to consider it from all sensible angles.

The fundamentals

The US is degrading and diluting its currency, the UK’s austerity strategy is falling apart, the EU economy is flatlining, and Russia is massively overdependent on energy sales in a world where the outlook for energy consumption is awful: indeed, only the coldest european Spring for decades has enabled it to maintain any kind of momentum.

China’s slowdown now looks inevitable given the atrocious consumption outlook outside its borders, and US economic nerves tightened yesterday when the IMF cut its growth forecast for the year from 2% to 1.7%, alongside official figures confirming a 0.4% slump in retail sales in March – the biggest fall since last July. Factory output in the EU declined, and the north-south imbalance worsened as Slovenia edged towards the centre of the debt radar. Italy’s output fell by a disastrous 8%, and Portugal’s constitutional Court has rejected the Troika’s bailout plan. 41% of Germans no longer believe their banked money is safe.

The myth of Obama’s ‘recovery’ long ridiculed here is now clearly seen for the lie it was. The Cyprus ‘bailin’ has caused massive leakage of capital from the eurozone. The Troika’s Athens talks are acrimonious and stalled.

Every last indicator last week suggested a turning tide for gold as a hedge against currency devaluation, and as an asset which – even if it fell in value medium term – would be better than worthless paper. But that wasn’t the market mood, and it wasn’t what happened. To call that strange is like referring to the Krakatoa eruption as a small bang: worldwide gold demand in 2012 was another record high of $236.4 billion in the World Gold Council’s latest report. This was up 6% in value terms in the fourth quarter to $66.2 billion – the highest fourth quarter ever and real volume demand in the fourth quarter of 2012 was up 4% to 1,195.9 tonnes.

So who were the suspects behind what, I’m fairly sure this morning, was a massive fix?

The manipulation clues

The central banks bought gold at a rate ahead of market growth last year – which means their share of it grew.

Central bank buying for 2012 rose by 17% over 2011 to some 534.6 tonnes – the highest level since 1964. Central bank purchases stood at 145 tonnes in the fourth quarter – up 9% from the comparable period in 2011. Central banks have now been net purchasers of gold for eight consecutive quarters. This despite the non-stop stream of CB spin about there being no money-printing or inflation to get concerned about. Fancy that.

Did anything else make sense of this strategic decision by the Draghulas? Spookily enough it did. Last year, Basel III moved the goalposts on gold’s risk score, moving gold from tier 3 to quasi tier 1 status. Gold thus became “zero percent risk-weighted” in terms of credit risk – a whopping upgrade for the shiny metal. But to buy lots of it (and thus reduce risk-panic among investors) one needs the price to go down.

And guess what? Despite that massive Central Bank buying splurge since late 2010, gold has hovered and wobbled, been weak in its challenging of top prices – and persistent in challenging lows. Or put another way, the exact opposite of what the first rule of Supply and Demand dictates. My oh my.

The Guardian this morning ran a truly daft piece saying that ‘gold fell to its lowest level in more than 18 months on Friday night amid fears that sales of the precious metal forced on Cyprus by its desperate financial plight would lead to wholesale dumping by hard-pressed countries in the coming months’. Pardon me Gruauniad, but “Bollocks”. The sum total of Cypriot selling required is €400m tops. That is a flea-bite on the ankle of the gold sector.

More pertinent, perhaps, is that the Cyprus sale (1) enabled the CBs to buy still more of it, and (2) provides an excuse for the price fall that naifs might accept at face value.

Other potential culprits are also implicated. During January 2013, the COMEX gold futures platform pushed expectations for the price up by 8.3%. One wonders who pushed it in that direction, and why. What’s more, over the last 90 days without any announcement, stocks of gold held at Comex warehouses plunged by the largest figure ever on record. JP Morgan Chase’s reported gold stockpile dropped by over 1.2 million ounces – a staggering $1.8 billion dollars worth of physical gold in just 120 days. The owners involved took their metal offsite, and it’s no longer stored in Comex warehouses…did they do so from a lack of trust? Or did they know something we didn’t?

Then there’s the chance that the Fed itself was trying to reduce its cost of returning gold: Germany’s Bundesbank recently announced it would be moving a major portion of its reserves from the US and all of its reserves from France back to Frankfurt. Nearly half of Germany’s gold reserves are held in a vault at the Federal Reserve Bank of New York. Nice way to reduce loss of face on safe assets if you work for Washington.

Is there a bottom line here?

There is, but I don’t think one can see the exact nature of it just yet. What seems to me clear, however, is that this was a fix….and Cyprus was a cover story for it, not the reason why.

On balance, it feels to me like some leaking, some massaging, and some reduction in the cost of global looting. But whatever: next week is indeed going to be interesting.

Recently at The Slog: The globalisation of disinformation

www.hat4uk.wordpress.com / link to original article

WEAREONE

13th April 2013, 21:41

Seems I typed a little slow, glad to see Gold and Silver in the thread, off to read and view now.

Would the topic of gold and silver fit into this thread, or perhaps links added to the thread. Seems to me Gold and Silver would be a safer investment than Bitcoin, mostly because of its track record of currency, Bitcoin I think is a little to early, I imagine the current Bitcoin phenomenon as version 1.0 and in the future after some ups and downs there will be Bitcoin 2.0 and even 3.0. I believe that the infrastructure that Bitcoin relies on is not secure enough. Solar storms large enough to shut down the system are IMO very possible, even more likely cordinated terrorist attacks on the U.S. Electrical grid, could shut down the internet in the U.S. for weeks at a time. Cant really cash in that Bitcoin pass code if we are in the dark. All the different scenarios you can imaginethat could shut down Bitcoin make Bitcoin a feel good story for me, its idea is grand, but unfortunately needing electricity, internet, etc to support the system is a bit to risky for me. Gold and Silver however are easy to hold are not reliant on a fragile system to keep its value, and yet what I dont understand is with the current rise in Bitcoin I would expect to see a rise in Gold and it has done the opposite and has even dropped significantly, yet I have not seen or read or heard a good reason for the gold drop despite the increasingly obvious debt problems, Cyprus etc. perhaps those in the know can suggest links that speak of the Gold down Bitcoin up confusion, or maybe its just confusing to me, Ill go search myself and post if I find something useful

Jeffrey

15th April 2013, 01:41

---------------

Ex-Soros Advisor Sells "Almost All" Japan Holdings, Shorts Bonds; Sees Market Crash, Default And Hyperinflation (http://www.zerohedge.com/news/2013-04-14/ex-soros-advisor-sells-almost-all-japan-holdings-shorts-bonds-sees-market-crash-defa)

See also: http://www.bloomberg.com/news/2013-04-14/ex-soros-adviser-says-boj-s-bet-on-massive-easing-will-backfire.html

ThePythonicCow

15th April 2013, 02:50

what I dont understand is with the current rise in Bitcoin I would expect to see a rise in Gold and it has done the opposite and has even dropped significantly, yet I have not seen or read or heard a good reason for the gold drop despite the increasingly obvious debt problems, Cyprus etc. perhaps those in the know can suggest links that speak of the Gold down Bitcoin up confusion, or maybe its just confusing to me, Ill go search myself and post if I find something useful
Neither gold nor bitcoins are rational markets at this time, responding sanely to the supply and demand of gold, bitcoins or dollars.

All such markets are caught up in the magnificent, stupendous and convoluted frauds of our present day financial "system."

You might as well predict the position of an old Spanish Galleon in the ocean, based on the setting of the rudder, the trimming of the sails, and the slaves efforts on the oars ... in the midst of a major typhoon.

http://www.iro.umontreal.ca/~vaucher/Genealogy/Documents/Asia/Ships/galleon2.jpg

Dennis Leahy

15th April 2013, 04:19

Silver (.999 fne, 1 OZ coins) available for under $30, with shipping. "Spot" is at $24.63/oz, and I actually see popular/well-known coins like Canadian Maple Leafs for around $27.50/ea.

My gut says right now is the best time to buy silver - kind of a "lucky break" price, because it just dropped a few dollars when the really big precious metals players were messing with gold prices.

Rather than silver bars (which are a tiny bit cheaper), it seems that the well-known coins will offer the best liquidity.

Correct me if I'm wrong, please.

Dennis

Jeffrey

15th April 2013, 04:50

Referee

15th April 2013, 04:56

Montagraph weighs in...

MTYr0B2r3Qc

Dennis Leahy

15th April 2013, 15:44

Avalon has an extremely wide scope of topics. Many of those topics are quite interesting, but not as critical as this one. Sadly, most of the world still runs on money, not love, and until we switch that currency, we do have to recognize that money=food, money=energy...

So, this is a bit more than a bump. This is a heads-up.

Dennis

sygh

16th April 2013, 16:42

Bitcoins WILL continue to clime, so don't let that stop you. As for me, I don't have any money anyway so, whatever happens, happens now.

Jeffrey

18th April 2013, 22:05

Bump this thread.

----------

I've been on high alert since the last week of March. Like a dog with his ears pointed up, focused and attentive. Things have been happening in rapid succession lately. A lot of stuff is going on right now. You know how long it takes for water to boil? You fill the pot up with water and heat it up. It takes a while for it to get hot enough to start showing little bubbles around the edge and on the bottom of the pot. Then after a certain threshold of temperature is reached, it begins to boil. It seems sudden, proportional to the time it took to heat up.

I see the situations that have taken place within the last 12 months as that period of getting hotter, approaching the threshold. It's heating up -- seriously. The pot was filled up in 2001. This year we may reach that threshold of temperature.

The Economy

1. Cyprus. Similar bail-in mechanisms have been found in FDIC/Bank of England resolutions (and in other big countries).

2. Japan enacted massive QE measures. The proportions of which make Ben Bernanke look like a school girl. Overt currency wars are a likely outcome if they continue devaluing the yen.

3. The recent big dip in the metals market. Actually, it was the biggest percentage dip in 33 years. There is all kinds of buzz going around in the blogosphere surrounding this. Many see it as an omen -- precursory to a big default somewhere.

LBMA Default Triggered Gold & Silver Takedown (http://rustysmetals.com/maguire-lbma-default-triggered-gold-silver-takedown-jim-willie-real-physical-price-of-gold-soars-to-2000oz-as-comex-burns-the-end-game-a%C2%80%C2%93-andy-hoffman-us-wholesale-suppliers-are/.html)

COMEX default (http://maxkeiser.com/tag/comex-default/)

Gold's VIX Term Structure 'Most Inverted' Since Lehman (http://www.zerohedge.com/news/2013-04-15/golds-vix-term-structure-most-inverted-lehman)

JPM silver and gold manipulation (Fed "funded" naked shorts using JPM as a proxy) (http://silverdoctors.com/the-secret-world-of-gold-cbc-documentary-to-take-metals-manipulation-mainstream/)

4. The illusion of economic recovery may fall apart very soon.

More Evidence That The Economic Peak Is In (http://www.zerohedge.com/news/2013-04-17/guest-post-more-evidence-economic-peak)

A Scary 'Head-And-Shoulders' Pattern Is Quickly Developing In The Stock Market (http://www.onenewspage.com/n/Business/74vspx3b5/Scary-Head-And-Shoulders-Pattern-Is-Quickly.htm)

5. The BRICS nations have been preparing for an global economic shift.

[...]

April was predicted to be a bumpy month, and so far it has been very bumpy on all fronts.

[...]

Full post here: http://projectavalon.net/forum4/showthread.php?58170-Explosions-at-Boston-marathon&p=663355&viewfull=1#post663355

kanishk

20th April 2013, 14:08

'The Secret World Of Gold' DOCUMENTORY
4wgbpGF9kT0
5OEMBzbINBI
hZzlz8GlX-c

Referee

20th April 2013, 14:12

Another hit piece on Gold in the MSM...

4H72l1oWR64

Calz

20th May 2013, 05:24

Hmmmm. This is interesting ....

_________________

Hong Kong Mercantile Exchange (Commodities: Gold Silver) is surrendering all metal trades and will settle in cash. Defaulted! No Gold or Silver to be given!

The Asian comex just defaulted? An interesting turn of events.

Via sherriequestioningall.blogspot.com.au, 20 May 2013 (thanks Wherami) - This is Super Huge news in my opinion!

The Hong Kong Mercantile Exchange, which is the gold and silver commodities trading house in Hong Kong is immediately stopping/discontinuing and will be settling all gold and silver trades in cash that are in house at this time. Besides that, they will determine what amount/price they will settle the trades/contracts at.

This is the exchange that began trading gold and silver in 2011 for the Pacific areas. This is the one we had all hoped would break the gold and silver manipulation. It seems the manipulation and physical amounts, broke them and they are not able to provide the physical.

On May 18, 2011, HKMEx formally began trading with a US Dollar gold futures contract. [9]In an interview with Reuters, Helmig said it plans to launch gold and silver futures contracts denominated in renminbi. He also said HKMEx will follow precious metals products with contracts in base metals, and then energy and agriculture.[10] On July 22, 2011, the exchange launched a second product, a US Dollar silver futures contract.[11]As of 5pm on February 13, 2012 trading on HKMEx’s gold and silver futures reached 1,003,210 contracts, representing total turnover of over US$50 billion (around HK$390 billion).[12] Trading on the exchange's US-dollar gold futures for the first time surpassed the 10,000 contract mark on June 4, 2012.

You have to wonder if people in Asia were demanding the physical metals, compared to the paper as the Comex people are happy with. It seems to me they ran out of physical and can no longer operate with physical gold and silver as a commodity.

They are using the excuse of commodity trading not providing enough money for them. But lets face it. The fact that gold and silver have been hit super hard the last couple of months and the fact that the Asian's have been buying all the physical they can get their hands on..... doesn't leave much to the imagination of what the truth is.

It seems we now have an official Default of an exchange for gold and silver! When will the Comex put something out like this?

It will reapply later to trade gold and silver again with the Renminbi, but is ceasing all trading immediately.

There is no physical metals to be had from the exchange for anyone who put trades on it.

Via hkmerc.com, 18 May 2013 - HONG KONG, 18 May, 2013 – The Hong Kong Mercantile Exchange (HKMEx) announces today it has decided to voluntarily surrender the authorisation to provide automated trading services (“ATS”) granted by the Securities and Futures Commission (“the SFC”).

With immediate effect, no new orders may be placed and all open positions will be financially settled at the settlement price determined by HKMEx and its designated clearinghouse.

The voluntary surrender decision was made to enable the Exchange to re-align its strategy with the new industry environment since its trading revenues have not been sufficient to support operating expenses and, as a result, its inability to meet the required regulatory financial conditions.
While trading on the Exchange will discontinue, HKMEx as an organisation will continue to operate with its existing staff, and will focus on developing new products including renminbi-denominated precious and base metals contracts that will better meet customer needs. It also intends to re-apply at an appropriate time for an ATS authorization to launch these products with stronger and more effective market maker programs.

“The favourable conditions under which HKMEx was founded have not changed. Global commodity demand continues to shift towards Asia as the region undergoes sustained growth, presenting great opportunities that we will continue to exploit,” said Barry Cheung, Chairman of HKMEx. “Our priorities now are to protect members’ interests by ensuring effective closing of open positions while strengthening our shareholding base and developing new products that play to our distinctive strengths.”

In closing out the open positions, the Exchange has developed a plan in consultation with the SFC to ensure the process is orderly and that investors are well informed of the matter. The Exchange will disseminate settlement prices to its members the morning of next Monday, 20 May 2013. Investors may contact the Exchange’s hotline at +852 3900 9898 for any assistance or enquiry.

http://www.transients.info/2013/05/hong-kong-mercantile-exchange.html#more

gripreaper

20th May 2013, 05:59

Silver took a huge dump at the open

http://www.kitco.com/images/live/silver.gif

ThePythonicCow

20th May 2013, 07:24

ThePythonicCow

20th May 2013, 09:34

Silver took a huge dump at the open

http://www.kitco.com/images/live/silver.gif
ZeroHedge has an article on this: Silver Plunges As Yen Stop Surge Triggers Margin Liquidation (http://www.zerohedge.com/news/2013-05-19/silver-plunges-yen-stop-surge-triggers-margin-liquidation):

Not a moment after someone was slammed with a massive margin call following the hit of 102 USDJPY stops as we noted moments ago, was that same someone(s) forced to dump a whole lot of silver in thin, no volume trading taking out the entire bid stack on what can only be described as "get me the hell out and pay me anything" liquidation, sending the precious metal to just over $20, before yet another round of buying programs kicked in, and sent it right back up, allowing those quick enough to capitalize on some foolish macro trader's blowing up to pocket a huge profit before Japan has even woken up.

ThePythonicCow

20th May 2013, 10:37

Hong Kong Mercantile Exchange (Commodities: Gold Silver) is surrendering all metal trades and will settle in cash. Defaulted! No Gold or Silver to be given!

The Asian comex just defaulted? An interesting turn of events.
Here's the announcement from HKMEx (http://hkmerc.com/en/Media-Centre/Press-Releases/HKMEx-Voluntarily-Surrenders-Authorisati.xml) itself regarding this closure:

HKMEx Voluntarily Surrenders Authorisation To Provide Automated Trading Services
------------------------------------------------
HONG KONG, 18 May, 2013 – The Hong Kong Mercantile Exchange (HKMEx) announces today it has decided to voluntarily surrender the authorisation to provide automated trading services (“ATS”) granted by the Securities and Futures Commission (“the SFC”).

With immediate effect, no new orders may be placed and all open positions will be financially settled at the settlement price determined by HKMEx and its designated clearinghouse.

The voluntary surrender decision was made to enable the Exchange to re-align its strategy with the new industry environment since its trading revenues have not been sufficient to support operating expenses and, as a result, its inability to meet the required regulatory financial conditions.

While trading on the Exchange will discontinue, HKMEx as an organisation will continue to operate with its existing staff, and will focus on developing new products including renminbi-denominated precious and base metals contracts that will better meet customer needs. It also intends to re-apply at an appropriate time for an ATS authorization to launch these products with stronger and more effective market maker programs.

“The favourable conditions under which HKMEx was founded have not changed. Global commodity demand continues to shift towards Asia as the region undergoes sustained growth, presenting great opportunities that we will continue to exploit,” said Barry Cheung, Chairman of HKMEx. “Our priorities now are to protect members’ interests by ensuring effective closing of open positions while strengthening our shareholding base and developing new products that play to our distinctive strengths.”

In closing out the open positions, the Exchange has developed a plan in consultation with the SFC to ensure the process is orderly and that investors are well informed of the matter. The Exchange will disseminate settlement prices to its members the morning of next Monday, 20 May 2013. Investors may contact the Exchange’s hotline at
+852 3900 9898 for any assistance or enquiry.

ThePythonicCow

20th May 2013, 12:07

Ah - one more report on this silver smack down - with the best look at the details that I've seen yet - from Jesse's Café Américain (http://jessescrossroadscafe.blogspot.com/2013/05/silver-market-sunday-evening-follies.html):

A large number of silver contracts were dumped on the Comex open on Sunday evening, a very quiet market period.

This ran the 'stops' and the price.

A similar number of contracts were then bought back at a lower price. And then the market was roiled, but started to recover from a very obvious price smackdown.

It is a little hard to see it on the 15 minute chart which just looks like a lot of selling. I hear that 2500 contracts traded in 15 minutes is a near record for an off hours session.

The action is much easier to see on the 5 minute chart below that.

This looks very much like the Dr. Evil strategy which the banks and funds like to use when the regulators are turning a blind eye.

I have included a 15 minute gold chart just for comparison sake.

If this was selling by a trader with an eye to raising cash, that trader should be fired. If it was done by a trader seeking to manipulate the price of the market, the CFTC should be able to find out fairly easily and publicly fine them. But don't hold your breath for that to happen in the US.

The price of key commodities are being set by what is little more than a bucket shop.

The world sees this, and is appalled.
Follow this link (http://jessescrossroadscafe.blogspot.com/2013/05/silver-market-sunday-evening-follies.html) to see the 15 minute and 5 minute silver charts.

Prodigal Son

20th May 2013, 12:24

We all know how supply/demand works.

So we have a shortage of gold and silver world wide, and yet the price is crashing.

That price is measured in USD, with the amount of them in circulation having grown exponentially in recent years. This should be resulting in hyper-inflation and devaluation of the dollar, but it is doing the opposite.

What's wrong with this picture?

It is ridiculous. It is comically obvious.

Hold your metal ground folks. When the dust settles you will be sitting on the only real currency on earth.

gripreaper

20th May 2013, 15:11

Lets hope this is the "last gasp" for the takedown, and we can move up from here.

blufire

20th May 2013, 15:21

ThresholdRising

20th May 2013, 17:44

Can someone explain bitcoin in a few sentences. After reading the wikipiedia description that was linked in one of the other threads I'm confused how you get started. Do you buy in with normal currency or a service you provide? I noticed Natural News will be accepting bitcoin for purchases and really would like to understand this concept.

Thanks so much, Penn

Its basically a virtual currency thats created and secured on a computer network instead of printed like other currencies. A llot lot more to it than that though.

gripreaper

21st May 2013, 03:54

Outside engulfing candle today, roars back. Could be the blowoff bottom here.

http://bigcharts.marketwatch.com/kaavio.Webhost/charts/big.chart?nosettings=1&symb=SLV&uf=0&type=4&size=2&sid=2305869&style=320&freq=1&entitlementtoken=0c33378313484ba9b46b8e24ded87dd6&time=7&rand=1922046497&compidx=aaaaa%3a0&ma=0&maval=9&lf=1&lf2=0&lf3=0&height=335&width=579&mocktick=1

Notice also the increased volume since the flash crash five weeks ago

Also, on the SPX, see the spinning top candle today? That means no buyers and no sellers and the price does not move.

http://bigcharts.marketwatch.com/kaavio.Webhost/charts/big.chart?nosettings=1&symb=spx&uf=0&type=4&size=2&sid=3377&style=320&freq=1&entitlementtoken=0c33378313484ba9b46b8e24ded87dd6&time=7&rand=1218914704&compidx=aaaaa%3a0&ma=0&maval=9&lf=1&lf2=0&lf3=0&height=335&width=579&mocktick=1

So, is this the top for stocks and the bottom for PM's? It's 1666, a thousand points since the 666 bottom. What, you don't think the elite would use the 666 twice? Supposed to be a Satanic number.

ThePythonicCow

26th May 2013, 22:08

Hong Kong Mercantile Exchange (Commodities: Gold Silver) is surrendering all metal trades and will settle in cash. Defaulted! No Gold or Silver to be given!

The Asian comex just defaulted? An interesting turn of events.

I wouldn't call this the Asian COMEX, at least not so far as size goes. It was a recently created and inadequately funded market, competing against some older and better capitalized markets in Hong Kong, Singapore, Dubai, London, New York, Chicago, and other locations.
Here are more details on the collapse of the Hong Kong Mercantile Exchange (HKMEx), from Mystery Surrounding Collapse Of Hong Kong Mercantile Exchange Deepens; Four Arrested (Zerohedge; May 25, 2013) (http://www.zerohedge.com/news/2013-05-25/mystery-surrounding-hong-kong-mercantile-exchange-collapse-deepens-four-arrested):

A week ago, when the brand new Hong Kong Mercantile Exchange suddenly shuttered after being in operation for only two years, urgently settling what little contracts were outstanding, many questions were left unanswered.

Such as: how it was possible that the exchange, expected by many to become the new preferred trading venue for Asian precious metals and to steal the CME's crown, could close on such short notice, without barely having been given a fair chance at being profitable, let alone dominating Pacific rim metals trading.

This mystery deepened further after reports that the exchange barely had seen any volume, with allegedly only a tiny 200 open contracts remaining to be settled upon shuttering.

Now, the confusion surrounding the HKMex closure has taken another big step for bizarrokind following news that not only have at least four HKMex senior executive have been arrested having been found to be in possession of false bank docs for nearly half a billion in dollars, but that government itself was forced to "shore up confidence" in CY Leung, Hong Kong's 3rd Chief Executive, whose former top aide was none other Barry Cheung Chun-yuen, founder of the HKMex.
Apparently the HKMEx was riddled with corruption and may have been more of a money laundering or pyramid scheme than it was a legitimate metal exchange. The corruption may reach to the top of Hong Kong's political structure, CY Leung, the incumbent Chief Executive since July 2012.

¤=[Post Update]=¤

Outside engulfing candle today, roars back. Could be the blowoff bottom here.

The bigcharts.marketwatch.com charts that you linked to are live charts, so the engulfing candle and the spinning top candle that you observed have now slid to the left a few days, and will continue to slide :).

crosby

27th May 2013, 07:43

here's an article from the 24th from WSJ's Market Watch, that i did not see until right now. if i am not mistaken, this is indicative of a what is coming in the future. i don't know about any one else, but i find it odd that the WSJ is predicting a crash: here is a brief quote from the article:

"The big players say the crash “won’t happen soon.” Don’t believe them. They’re betting with trillions. And they are hedging their bets, already preparing for “when rates take their first turn higher,” because rates will soar “swift and steep,” and when that happens it will be too late to prepare. "

here's the link:
http://www.marketwatch.com/story/bernanke-out-by-august-qe-ends-rates-up-crash-2013-05-22

regards, corson

Referee

27th May 2013, 09:49

Gold volatility..

wVxZUlzWa7o

Dennis Leahy

28th June 2013, 07:23

Retail Investor Nightmare: The Bond Fund Rout 06/27/2013 13:19

http://www.zerohedge.com/contributed/2013-06-27/retail-investor-nightmare-bond-fund-rout

The bond selloff didn’t surprise anyone. Investors knew that it would happen, would have to happen. Gurus of all stripes had predicted for years that it would happen, that the ridiculously low yields weren’t sustainable, that the Fed would eventually have to back off – only to watch with a mix of helpless frustration and ironic bemusement as the Fed or some other central bank opened the spigot even wider.
Meanwhile, investors decided to brush off the razzmatazz and just hang in there until it would happen, then get out in the nick of time. And they rode up the most gigantic bond bubble in history. But real cracks appeared in the Treasury market last fall when yields rose despite the Fed’s announcement of QE infinity designed to repress yields.
So, on April 30, it became official. In light of sky-high corporate bond prices and record low yields, billionaire Wilbur Ross of WL Ross & Co. warned during a panel discussion (http://www.cnbc.com/id/100691187) of the long-term issues in bond la-la land. This – whatever was coming down the pike – wouldn’t be just a brief dip that you could buy. A mountain of debt had been issued in recent years at artificially low rates, thanks to the Fed’s machinations. It would have to be refinanced in a few years at much higher rates. “There’s a tremendous amount of interest-rate refinancing risk being built up,” he said. “We’re just building a bigger and bigger time bomb.”
Others chimed in. Joshua Harris, co-founder and chief investment officer of private-equity powerhouse Apollo Global Management, offered this tidbit of immortal wisdom to the still euphoric bondholders: “run – do not walk!”
And they did. All at the same time. It stopped the crazy feeding frenzy for yield. It turned the junk-bond bubble into a rout overnight. That “time bomb” would hit them the hardest. There’d be defaults. Value would just vanish. These risks are worth taking, if yields are high enough. But they weren’t. As the average yield (http://research.stlouisfed.org/fred2/series/BAMLH0A0HYM2EY) on junk bonds hit a record low of 5.24% on May 9, investors opened their eyes [my take: The Day The Big Fat Junk-Bond Bubble Blew Up (http://www.testosteronepit.com/home/2013/6/7/the-day-the-big-fat-junk-bond-bubble-blew-up.html)]. By June 26, it had jumped to 7.02%. And it’s just the beginning.Dennis