Sep 06

- China sides with Russia in opposing military strikes on Syria (RT, Sep 5, 2013):

China joined Russia in its opposition against military strikes on Syria ahead of the G20 summit on Thursday. Beijing said the use of force would cause a swing in oil prices, thereby hurting the global economy.

“Military action would have a negative impact on the global economy, especially on the oil price – it will cause a hike in the oil price,” China’s vice finance minister, Zhu Guangyao, said at a pre-G20 briefing in St. Petersburg.

The remark was echoed by other members of the BRICS bloc, Reuters reported. Aside from China, the bloc consists of emerging economies including Brazil, Russia, India, and South Africa.

Continue reading »

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Sep 01


YouTube Added: 31.08.2013

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Aug 31

- India Moves to Ban Gmail (Liberty Blitzkrieg, Aug 31, 2013):

The fallout from the Snowden revelations continue. While India has already been attempting to fight economic reality with import duties on gold in an desperate move to reduce buying, they are now also trying to take further control of their technology infrastructure. Although this may appear to be a good thing on the surface, perhaps it is merely a move to further consolidate their own domestic snooping powers, which we already know they are trying to do.

In the latest news, it is being reported that the government will soon ask its employees to stop using Google’s Gmail due to the presence of the company’s servers within the U.S.

More from The Times of India:

BANGALORE/NEW DELHI: The government will soon ask all its employees to stop using Google’s Gmail for official communication, a move intended to increase security ofconfidential government information after revelations of widespread cyberspying by the US.

A senior official in the ministry of communications and information technology said the government plans to send a formal notification to nearly 5 lakh employees barring them from email service providers such as Gmail that have their servers in the US, and instead asking them to stick to the official email service provided by India’s National Informatics Centre.

Continue reading »

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Aug 20

- As its Currency Collapses, India Doubles Down on Big Brother Surveillance (Liberty Blitzkrieg, Aug 19, 2013):

What’s a clueless government trying to micromanage the affairs of over a billion people supposed to do when the wheels start coming off the wagon? If you’re India, you blame the country’s financial and societal woes on the buying of gold and attempt to prevent people from purchasing it. When that doesn’t work, and your currency continues to collapse, then what?

Well, you decide to double down on a surveillance state. That’s precisely what the enlightened government bureaucrats at India’s Ministry of Home Affairs (MHA) have decided to do.

From The Hindu:

Amid a raging global debate on privacy versus surveillance, monitoring and use of intrusive technologies by governments, the Directorate of Forensic Sciences in the Ministry of Home Affairs (MHA) is set to purchase a range of equipment and software that will allow it to conduct deep search, surveillance and monitoring of voice calls, SMS, email, video, Internet, chat, browsing and Skype sessions on an unprecedented scale.

Continue reading »

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Aug 09

Flashback:

- The Cove – Oscar Award Winner (‘Best Documentary’):

The Cove exposes the slaughter of more than 20,000 dolphins and porpoises off the coast of Japan every year, and how their meat, containing toxic levels of mercury, is being sold as food in Japan and other parts of Asia, often labeled as whale meat. The majority of the world is not aware this is happening. The focus of the Social Action Campaign for The Cove is to create worldwide awareness of this annual practice as well as the dangers of eating seafood contaminated with mercury and to pressure those in power to put an end to the slaughter.


- Dolphins granted personhood by government of India (Natural News, Aug 9, 2013):

Dolphins have been granted “non-human personhood” status by the government of India, making India the first nation in the world to recognize the unique intelligence and self-awareness of the cetacean order (a class of aquatic mammals).

The decision was announced by India’s Minister of the Environment and Forests which also outlawed captive dolphin shows. The ministry added that dolphins “should have their own specific rights.” (SOURCE)

Dolphins are extremely intelligent mammals with a highly-developed social structure. Recent research shows that dolphins call each other by name and can remember the unique name whistles from old “friends” heard just one time 20 years ago.

Dolphins choose their own unique name — a series of complex whistles — before they reach one year of age. From that point forward, all the other dolphins in their social group call them by that unique name.

Dolphins use highly-complex grammatical communications

Previous research has shown that dolphins have human-like self awareness and engage in highly complex communications with other dolphins using grammatical sentence structure. Yes, dolphins have their own complete language, much like humans. (See the Dolphin Communication Project.) The main difference between dolphin language and human language is that dolphins aren’t vaccinated as young children and injected with brain-damaging mercury. Therefore, dolphins grow up able to speak in fully coherent sentences while many humans now are cognitively deficient and unable to compose meaningful sentences. (They are literally brain damaged by vaccines, mercury fillings and toxic chemicals in foods, medicines and personal care products. Idiocracy has arrived!)

As this 1999 scientific paper on dolphin communication explains about a dolphin named “Ake:” Continue reading »

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Aug 06

- Big Oil’s Central Asian Mafia (Veterans Today, Aug 6, 2013)

(Excerpted from Big Oil & Their Bankers: Chapter 17: Caspian Sea Oil Grab)

According to Kurt Wulff of the oil investment firm McDep Associates, the Four Horsemen, romping in their new Far East pastures, saw asset increases from 1988-1994 as follows: Exxon Mobil- 54%, Chevron Texaco- 74%, Royal Dutch/Shell- 52% and BP Amoco- 54%.  Big Oil had more than doubled its collective assets in six short years.

This quantum leap in global power had everything to do withthe takeover of the old Soviet oil patch and the subsequent impoverishment of its birthright owners.

While the Four Horsemen gorged on Russian and Central Asian oil, Wall Street investment bankers were facilitating the oil grab and ripping off the Russian Treasury.

Salomon Smith Barney’s Phibro Energy oil trading subsidiary set up shop in Moscow.  Goldman Sachs was hired by Yeltsin to lure foreign capital to Russia.  Heading the Russian Goldman Sachs team was Robert Rubin, later Clinton Secretary of Treasury & Citigroup CEO.  CS First Boston took a 20% stake in Lukoil, in partnership with BP Amoco. Continue reading »

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Aug 01

- Pakistan Bans Gold Imports for 30 Days (Liberty Blitzkrieg, Aug 1, 2013):

The latest buzz circulating around the gold market relates to news that Pakistan’s Economic Coordination Committee of the Cabinet (ECC) has decided to ban duty free gold imports for thirty days. Why you ask? Because those pesky Indians are using Pakistan as a conduit to get around the country’s recent 8% duty imposed on gold imports.

All of this of course begs the question: With the price of gold “plunging” over the past several months, why did Pakistan and India both feel the need to take such draconian measures against a barbarous relic that everyone is supposedly panic selling? If there is so much gold to be had and no one wants it, what’s the problem? Strange indeed.

From the The Express Tribune:

The Economic Coordination Committee of the Cabinet, headed by Finance Minister Ishaq Dar, took the decision to ban the import of the yellow metal for one month with immediate effect.

Continue reading »

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Jul 17

From the article:

“One official said the food may not have been properly washed before it was cooked.”

What??? Now that would be a very powerful ‘insecticide’ indeed.


- Free school lunch kills at least 22 children in India; insecticide suspected (The Star, July 17, 2013):

PATNA, INDIA – At least 22 children died and more than two dozen others were sick after eating a free school lunch that was tainted with insecticide, Indian officials said Wednesday.

It was not immediately clear how chemicals ended up in the food in a school in the eastern state of Bihar. One official said the food may not have been properly washed before it was cooked.

The children, between the ages of 5 and 12, fell ill Tuesday soon after eating lunch in Gandamal village in Masrakh block, 80 kilometres north of the state capital of Patna. School authorities immediately stopped serving the meal of rice, lentils, soybeans and potatoes as the children started vomiting.

Continue reading »

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Jul 16


YouTube Added: 14.07.2013

Description:

India is to settle its 1.53 billion dollars dues with Iran in Rupees. From now on, all the trade will only be done in Indian currency. Until February, 45 percent of the Indian oil import payments were made in Euros, with the money going through Turkish Halkbank. Since then Indian crude oil importers have held on to their payments. A Russian route to make payments in Ruble was explored however it did not work out. Finally the Rupee transactions are left as the only alternative.UCO Bank is the only Indian designated institute under the rupee-payment mechanism with Iran. It is backed by its tie-ups with five Iranian banks which worked on carrying out the process of settlements of dues in April last year.

Sanjay Sethi, Press TV, New Delhi

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Jul 03

Sprott had its origins in Sprott Securities Ltd., a brokerage firm founded in 1981 by Eric Sprott.

Today, Sprott manages approximately $10 billion in assets and operates through four businesses:

  • Asset Management
  • Physical Bullion
  • Private Equity and Debt
  • Wealth Management

- Silver is winning India’s “War on Gold” (ZeroHedge, July 2, 2013):

As India continues to wage war with gold, investors are seeking out the yellow metal through any means available. Reports today suggest that there is not enough room on commercial flights into Dubai for all those investors seeking to purchase gold. “I cannot find a place for transporting gold on Emirates, on BA or Swiss Airlines this weekend,” lamented Tarek El Mdaka, the managing director of Kaloti Gold in Dubai adding he is shipping as much as 2 tonnes of gold every day.1 As we had suspected, it would appear that the Indian gold trade has moved offshore to avoid the restrictions on imports and extra taxes imposed. However, this is not the biggest change in the Indian precious metals market – silver imports have exploded.

Continue reading »

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Jun 27

“The man who reads nothing at all is better educated than the man who reads nothing but newspapers.”
- Thomas Jefferson

“What good fortune for governments that the people do not think.”
– Adolf Hitler

“War is peace.
Freedom is slavery.
Ignorance is strength.”
- George Orwell

Related info: – ‘The Dark Side of the QE Circus’

“Somewhere ahead I expect to see a worldwide panic-scramble for gold as it dawns on the world population that they have been hoodwinked by the central banks’ creation of so-called paper wealth. No central bank has ever produced a single element of true, sustainable wealth. In their heart of hearts, men know this. Which is why, in experiment after experiment with fiat money, gold has always turned out to be the last man standing.”
– Richard Russell


- Gold premiums jump as physical demand outstrips supply (Reuters, June 26, 2013):

Gold premiums doubled in India on Wednesday as suppliers struggled to meet surging demand after a ban on consignment imports, but futures prices fell to their lowest in more than a month as international gold prices fell due to a strong dollar.

India, the world’s biggest buyer of gold, now requires importers to pay upfront for inventory, making it difficult for smaller jewellers with lower working capital to source supplies. The government also raised the import duty to 8 percent in May to keep a lid on the surging current account deficit.

Continue reading »

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Jun 23


Soldiers tried to repair a footbridge over the Alaknanda River in mountainous Uttarakhand State during resue work on Saturday.

- Flood Toll Reaches 1,000 in India as Thousands More Await Rescue (New York Times, June 22, 2013):

NEW DELHI — Flash floods and landslides in northern India have killed at least 1,000 people in the Himalayan state of Uttarakhand in the past week, an official said Saturday, and with thousands missing or stranded the toll was expected to rise.The official, Vijay Bahuguna, the chief minister of Uttarakhand, confirmed the latest toll in a meeting with reporters. Home Minister Sushil Kumar Shinde told the Indian news media on Saturday that 40,000 people were still stranded, and he described the floods as a “national crisis.”

Most of the stranded were people on a pilgrimage known as Char Dham Yatra, which takes Hindus to four of the holiest shrines in Uttarakhand between May and November.

Continue reading »

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Jun 09

- The NSA’s “Boundless Informant” Collects 3 Billion Intelligence Pieces From US Computer Networks In One Month (ZeroHedge, June 8, 2013):

There’s one reason why the administration, James Clapper and the NSA should just keep their mouths shut as the PRISM-gate fallout escalates: with every incremental attempt to refute some previously unknown facet of the US Big Brother state, a new piece of previously unleaked information from the same intelligence organization now scrambling for damage control, emerges and exposes the brand new narrative as yet another lie, forcing even more lies, more retribution against sources, more journalist persecution and so on.The latest piece of news once again comes from the Guardian’s Glenn Greenwald who this time exposes the NSA’s datamining tool “Boundless Informant” which according to leaked documents collected 97 billion pieces of intelligence from computer networks worldwide in March 2013 alone, and “3 billion pieces of intelligence from US computer networks over a 30-day period.”

This is summarized in the chart below which shows that only the middle east has more active NSA-espionage than the US. Also, Obama may not want to show Xi the activity heatmap for China, or else the whole “China is hacking us” script may promptly fall apart.

Using simple, non-AES 256 breaking math, 3 billion per month amounts to some 100 million intrusions into the US per day, or looked at from another perspective, just a little more than the “zero” which James Clapper vouched announced earlier today is the applicable number of US citizens falling under the NSA’s espionage mandate: “Section 702 cannot be used to intentionally target any U.S. citizen, or any other U.S. person, or to intentionally target any person known to be in the United States.” Oops.

But it gets worse for the NSA. As the Guardian reports, “Emmel, the NSA spokeswoman, told the Guardian: “Current technology simply does not permit us to positively identify all of the persons or locations associated with a given communication (for example, it may be possible to say with certainty that a communication traversed a particular path within the internet. It is harder to know the ultimate source or destination, or more particularly the identity of the person represented by the TO:, FROM: or CC: field of an e-mail address or the abstraction of an IP address). Thus, we apply rigorous training and technological advancements to combine both our automated and manual (human) processes to characterize communications – ensuring protection of the privacy rights of the American people. This is not just our judgment, but that of the relevant inspectors general, who have also reported this.”

In other words, Americans are absolutely the target of billions of monthly intrusions, but said data “mining” is exempted because it is difficult to identify in advance if a US citizen is implicated in any metadata chain.

Only it isn’t as it is the whole premise behind Boundless Informant. Continue reading »

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Jun 06

- India Central Bank Prohibits Sales Of Gold Coins (ZeroHedge, June 6, 2013):

Two weeks ago, with its current account getting crushed by relentless gold imports, India’s finance minister Chidambaram literally begged the people to stop buying gold. Judging by the popular response, the ongoing physical shortage, and last night’s increase in Indian gold import duties from 6% to 8%, appealing to people’s feeling when it comes to the choice of fiat vs physical, has failed miserably. So the FinMin Chidambaram has decided to escalate.

Per Reuters:

The Reserve Bank of India has advised banks against selling gold coins to retail customers, Finance Minister P. Chidambaram said on Thursday, a day after he raised gold import duty to try to ease pressure on India’s bloated current account deficit.

Well, if there ever was one sure way to send demand for any product through the roof (guns, ammo, etc), it is for the government to prohibit its outright sale. What follows next, almost without fail, is a panicked, chaotic buying scramble.

Gold imports by India, the world’s biggest buyer of bullion, surged to
162 tonnes in May — more than twice the monthly average in the record
year of 2011.

“I think the Reserve Bank has advised banks that they should not sell gold coins,” said Chidambaram, while speaking at an event in Mumbai.

Chidambaram also urged banks to advise their customers not to invest in gold.

Why? If it is not clear by now, here is the explanation: there is simply not enough gold to satisfy demand at the current artificially downward-manipulated price, no matter what propaganda script is being spun on Verizon TV at any given moment. And with India’s idiotic decree, even more gold will be purchased at these prices.

Dear India – here is a simple way to limit demand: price.

Continue reading »

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Jun 02

Full article here:

- It’s A “0.6%” World: Who Owns What Of The $223 Trillion In Global Wealth (ZeroHedge, June 2, 2013):

Back in 2010 we started an annual series looking at the (re)distribution in the wealth of nations and social classes. What we found then (and what the media keeps rediscovering year after year to its great surprise) is that as a result of global central bank policy, the rich got richer, and the poor kept on getting poorer, even though as we predicted the global political powers would, at least superficially, seek to enforce policies that aimed to reverse this wealth redistribution from the poor to the rich (a doomed policy as the world’s legislative powers are largely in the lobby pocket of the world’s wealthiest who needless to say are less then willing to enact laws that reduce their wealth and leverage). Now that the topic of wealth distribution (or rather concentration) is once again in vogue, below we present the latest such update looking at a global portrait of household wealth. The bottom line: 29 million, or 0.6% of those with any actual assets under their name, own $87.4 trillion, or 39.3% of all global assets.

Here are the key highlights via Credit Suisse:

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May 08

- McDonalds Hikes Japanese Burger Prices And Sales Slide; Now It’s India’s Turn (ZeroHedge, May 8, 2013):

Confirming that while Central Banks may have halted economic logic and reason indefinitely, supply and demand still have some relevance in the real world was today’s earlier news that in the aftermath of McDonalds’ 20% price hike of basic burgers in Japan three weeks ago, that the company’s Japanese same store sales tumbled by a whopping 3.7% in April, a major contributor for the miss in the expected global same store sales for April which came at -0.6%, below Wall Street expectations. One can only guess what the SSS drop would have been had MCD implemented the price hike at the start of the month. One can also guess if the increase in average price offset the drop in sales volume – we will know soon, but just to make doubly sure if what MCD loses in volume it makes up for in price, McDonalds announced that one month after the 20% price hike in Japan, its Indian franchise operator said it too would proceed with a price hike – the second one this year – amounting to 5-6%.

From Reuters:

An Indian franchise operator of McDonalds Corp  may increase prices for the second time this year, responding to rising inflation which, along with an economic slowdown, it expects to temper demand growth for at least the next 7 months.

The company, Hardcastle Restaurants, said on Tuesday it could raise prices by 5-6 percent. That follows a 5 percent hike after the government increased the service tax rate in February.

“There is pressure and it’s a tough environment, no doubt. But inflation is at 8-10 percent so we have to hike our prices,” said Amit Jatia, vice-chairman of Hardcastle Restaurants, which owns the McDonalds franchise for west and south India.

Pop quiz: does consumption increase when prices rise? For the S&P500, yes. In India, apparently not.

Consumer spending in India has taken a hit in the past three quarters as rising food prices, meager salary increases and the slowest Indian economic growth in a decade hurt buying appetites for clothes, cars and eating out.

With its 1.2 billion people and growing middle class, India is a large market for global chains, though for now most Indians cannot afford to eat regularly in western-style restaurants.

The burger chain said its same-store sales remained under pressure and although they would grow, the increase would not be at the 22 percent achieved in the fiscal year ended March 2012.

The burger chain plans capital spending of 5 billion-10 billion rupees ($92 million-$184 million) in India over the next 3-5 years, mostly for store expansion, Jatia said, adding India’s long-term consumption growth story remained intact.

McDonalds has 309 stores in the country.

In other news, with inflation rampant in the world’s second most populous country, the local citizens just can’t get enough of selling synthetic gold via synthetic CDOs such as the GLD ETF, if it means being able to buy actual physical gold at cheaper prices. Because remember: deflation is just inflation on the sidelines, and the Chairsatan can kill the sidelines in 15 minutes.

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Apr 21

- The Secret World Of Gold (ZeroHedge, April 21, 2013):

In a wide-ranging look at the history and present of the barbarous relic, CBC’s Ann-Marie MacDonald has gathered many perspectives (pro and con) on gold. The following documentary moves from historical shipwrecks to Nazi ‘death gold’ and England’s war chest to recent years where widespread economic uncertainty has given the yellow metal a “new lustre in the world of high finance.” Valued for its permanence, beauty and scarcity, people will lie, cheat, steal and kill in the name of gold; and the clip provides color on many of the market manipulations of the last few years. As MacDonald says, whether it’s a few gold coins or gold bars stored in one of the many vaults around the world, many investors are taking a shine to gold. But there’s not a lot of it. It is said that, even melted down, there would not be enough to fill an Olympic swimming pool. Some claim that much of the gold held by the Bank of Canada, the Bank of England, the Federal Reserve and Fort Knox is gone – that for every 100 ounces of gold traded, there exists only one ounce of real, physical gold. So, where is the gold – and who really owns it?

Part 1

Part 2

Part 3

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Apr 18

Related info:

- U.S. Mint Sells Record 63,500 Ounces Of Gold In One Day

- Gold Buying Frenzy Continues: China, Japan, And Australia Scramble For Physical


- Gold Drop Spurs Demand From Indian Bazaar to Chinese Mall (Bloomberg, April 18, 2013):

Shoppers in China lined up for gold this week, while in Hong Kong they rushed to buy bracelets and in India sought jewelry for weddings not set until December. The metal’s biggest price drop in three decades provoked the clamor.

From Zaveri Bazaar in Mumbai, India’s largest bullion market, to Australia’s Perth Mint, where sales doubled from last week, consumers headed to shops after the commodity entered into a bear market last week. As gold plunged 13 percent in the two sessions through April 15, retail sales tripled across China on April 15-16, the China Gold Association reported.

The frenzy appeared in India and China, the biggest gold- consuming nations, with cultures that traditionally acquire the metal for brides, babies or strongboxes. This year’s 18 percent decline may reignite demand that last year fell for the first time in three years, with Asian investors in particular seeing the drop as a buying opportunity. Continue reading »

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Apr 15

- China Takes Another Stab At The Dollar, Launches Currency Swap Line With France (ZeroHedge, April 13, 2013):

One more domino in the dollar reserve supremacy regime falls. Following the announcement two weeks ago that Australia And China will Enable Direct Currency Convertibility, which in turn was the culmination of two years of Yuan internationalization efforts as summarized by the following: “World’s Second (China) And Third Largest (Japan) Economies To Bypass Dollar, Engage In Direct Currency Trade“, “China, Russia Drop Dollar In Bilateral Trade“, “China And Iran To Bypass Dollar, Plan Oil Barter System“, “India and Japan sign new $15bn currency swap agreement“, “Iran, Russia Replace Dollar With Rial, Ruble in Trade, Fars Says“, “India Joins Asian Dollar Exclusion Zone, Will Transact With Iran In Rupees“, and “The USD Trap Is Closing: Dollar Exclusion Zone Crosses The Pacific As Brazil Signs China Currency Swap, China has now launched yet another feeler to see what the apetite toward its currency is, this time in the heart of the Eurozone: Paris. According to China Daily, as reported by Reuters, “France intends to set up a currency swap line with China to make Paris a major offshore yuan trading hub in Europe, competing against London.” As a reminder the BOE and the PBOC announced a currency swap line back in February, in effect linking up the CNY to the GBP. Now it is the EUR’s turn.

More on this curious move by the Bank of France and the PBOC from Reuters: Continue reading »

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Mar 30

- BRICS Nations Plan New Bank to Bypass World Bank, IMF (Bloomberg, March 26, 2013):

The biggest emerging markets are uniting to tackle under-development and currency volatility with plans to set up institutions that encroach on the roles of the World Bank and International Monetary Fund.

The leaders of the so-called BRICS nations — Brazil, Russia, India, China and South Africa — are set to approve the establishment of a new development bank during an annual summit that began today in the eastern South African city of Durban, officials from all five nations say. They will also discuss pooling foreign-currency reserves to ward off balance of payments or currency crises.

Continue reading »

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Mar 10

FYI.


- Jim Rogers: We’re Wiping Out The Savings Class Globally, To Terrible Consequence (Peak Prosperity, March 9, 2013):

Jim Rogers decries the growing uncertainty and recklessness of global central planners as the world enters unchartered financial markets:

For the first time in recorded history, we have nearly every central bank printing money and trying to debase their currency. This has never happened before. How it’s going to work out, I don’t know. It just depends on which one goes down the most and first, and they take turns. When one says a currency is going down, the question is against what? because they are all trying to debase themselves. It’s a peculiar time in world history.

Continue reading »

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Feb 18

- Shanghai Gold Exchange Volume Soars To Record As India Gold Imports Surge To 18 Month High (ZeroHedge, Feb 18, 2013)

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Feb 18

#Radioactive Asia: There Will Be 100 Additional Nuclear Reactors in Asia in 20 Years (EX-SKF, Feb 16, 2013):

As far as Asians are concerned, the Fukushima nuclear accident seems to have encouraged them to embark on new nuclear projects.

They probably look at Japan, and say, “Well their government has said all along there is no bad effect from triple meltdowns and melt-throughs, and people don’t seem to care anyway, so what’s there to lose? Not much.”

Continue reading »

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Jan 07

- Gold: It’s For More Than Just Wealth Preservation (ZeroHedge, Jan 6, 2013):

Presented with little comment, aside to note that 32-year-old Indian Datta Phuge, thought this $25,000 solid gold shirt would be just right to attract female attention: “I know I am not the best looking man in the world but surely no woman could fail to be dazzled by this shirt?” So much for the yellow metal being a barbarous relic.

Source: Daily Mail

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Jan 03

- GM food labelling comes into force amid fears over ‘lack of planning’ (Daily Mail, Jan 1, 2013):

On New Year’s day, India joined a select band of countries where food containing genetically modified (GM) content must be labelled as such. But it has done so without any preparation.

The labelling of foods with GM ingredients has been a long-held demand of consumer groups, but the way it has been done in India has left them disappointed.

Continue reading »

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Jan 02

- Don’t Show Bernanke This Chart Of Gold Loans In India (ZeroHedge, Jan 2, 2013):

One of the Fed Chairman’s most memorable lines in recent history is that gold is not money… it is tradition.” Perhaps he was merely listening to the Fed’s computers, Ferbus, Edo and Sigma, which we now know form the backbone of US central planning and whose DSGE model output is usually spot on until it happens to be catastrophically wrong, on the issue. Or perhaps that is merely what one is taught (and teaches) in the Princeton economics department. Whatever the reason for Bernanke’s belief, don’t show him this chart from a just released “Report of the Working Group to Study the Issues Related to Gold Imports and Gold Loans by NBFCs” in India, part of a coordinated campaign to minimize Indian gold demand and imports whose direct substitution to “(un)sound money” in the country is one of the reason being attributed for the nation’s high current account deficit (as reported earlier) and why the finance minister said “demand for gold must be moderated.” The chart shows the staggering eightfold increase in India’s gold loans “which monetize the idle gold in the country“, in just four short years. In short it proves that in India, gold is the only real money, and is the only fallback option in a country where inflation is still rampant, and where even simple peasants prefer to keep their wealth not in the local paper currency, which has been losing its value aggressively in recent years, but in the shiny metal. Must be “tradition.” Continue reading »

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Dec 26

- India to Buy $3 Bln Worth of Russian Warplanes, Helicopters (Ria Novosti, Dec 24, 2012):

NEW DELHI – Russia is to sell India dozens of combat helicopters and warplanes under two $2.9 billion contracts signed on Monday.

Under one contract, India will buy 71 Mi-17B-5 Hip helicopters worth $1.3 billion, while the other provides for the delivery of assembly kits for 42 Su-30MKI Flanker fighters, worth $1.6 billion.

Continue reading »

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Nov 28

- The Giant Currency Superstorm That Is Coming To The Shores Of America When The Dollar Dies (Economic Collapse, Nov 27, 2012):

By recklessly printing, borrowing and spending money, our authorities are absolutely shredding confidence in the U.S. dollar.  The rest of the world is watching this nonsense, and at some point they are going to give up on the U.S. dollar and throw their hands up in the air.  When that happens, it is going to be absolutely catastrophic for the U.S. economy.  Right now, we export a lot of our inflation.  Each year, we buy far more from the rest of the world than they buy from us, and so the rest of the world ends up with giant piles of U.S. dollars.  This works out pretty well for them, because the U.S. dollar is the primary reserve currency of the world and is used in international trade far more than any other currency is.  Back in 1999, the percentage of foreign exchange reserves in U.S. dollars peaked at 71 percent, and since then it has slid back to 62.2 percent.  But that is still an overwhelming amount.  We can print, borrow and spend like crazy because the rest of the world is there to soak up our excess dollars because they need them to trade with one another.  But what will happen someday if the rest of the world decides to reject the U.S. dollar?  At that point we would see a tsunami of U.S. dollars come flooding back to this country.  Just take a moment and think of the worst superstorm that you can possibly imagine, and then replace every drop of rain with a dollar bill.  The giant currency superstorm that will eventually hit this nation will be far worse than that. Continue reading »

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Nov 19

- Global Alien Terror Threat A Reality ! (Veterans Today, Nov 19, 2012):


The Editor World News Tomorrow

WORLD NEWS TOMORROW - NEW DELHI, INDIA-Adding to the issues besetting nuclear rivals China and India, ranging from border disputes to the Dalai Lama to trade deficits, is a new one: UFOs.”Over 100 UFOs seen along China border,” said a recent headline in the Times of India.

Indian troops guarding the often-tense 2,100-mile border between the Asian giants say the objects seen in recent months are yellow spheres that appear to lift off from the Chinese side, slowly traversing the sky for three to five hours before disappearing. Indian military officials have reportedly ruled out Chinese drones or low-orbit satellites.

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Nov 19

- Global Shadow Banking System Rises To $67 Trillion, Just Shy Of 100% Of Global GDP (ZeroHedge, Nov 18, 2012)

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