Dec 20

India Snowfall Crisis Continues (Ice Age Now, Dec 19, 2014):

Snowfall crisis. For the sixth day, Manali-Kullu powerless and paralysed.

* * *

19 Dec 2014 – Internationally famed Kullu-Manali, a popular tourist destination, has suffered heavily with continued disruption of power supply and telecom services. Roads are blocked by snow and fallen trees/electricity poles and hoteliers face huge cancellations ahead of the Christmas and New Year eve rush. Continue reading »

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Dec 17

Gold Imports ‘Phenomenal’ In India – 571 Percent Surge To 150 Tonnes in November (Goldcore, Dec 16, 2014):

India’s gold imports were over a staggering 150 tonnes in November and have seen a “phenomenal” rise in India according to India’s Trade Secretary, Rajeev Kher.

A few weeks ago we said that the death of the Indian gold market was greatly exaggerated. The latest gold import data out of India confirms this.

India Gold Imports

The import restrictions on gold that were imposed on Indians in August of 2013 were lifted at the end of last month. Despite the fact that the restrictions were still in place gold importation in November surged an incredible 571% relative to the same month last year at over 151.58 tonnes.

This was an increase of 38 percent from 109.55 tonnes a month earlier, trade ministry data showed on Tuesday.

Continue reading »

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Dec 12

Flashback:

Obama Takes on Critics as He Expands on Foreign Policy (Bloomberg):

He also criticized detractors who have called for more action in Ukraine, pointing to his ability to solidify international unity and saying Russia “has never been more isolated.”

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Dec 05

After 30 years Bhopal survivors are still fighting for compensation

Why are Bhopal survivors still fighting for compensation? (BBC, Dec 2, 2014):

On the night of 2 December 1984, Lakshmi Thakur was putting her children to bed when her eyes started stinging.

She went outside to investigate, thinking a neighbour was frying chillies, and found people running in panic, clutching their faces.

Someone told her there had been an accident at Union Carbide India’s pesticide plant behind her house in Bhopal, the capital of the central state of Madhya Pradesh, and the burning wasn’t from cooking, but from leaking gas.

Lakshmi gathered her family and fled towards a bus stop by the factory. On the way, one of her sons started to vomit and another doubled over with diarrhoea. Her 20-year-old daughter didn’t live to see morning.

More than half a million people were poisoned by deadly methyl isocyanate (MIC) gas that night. Several thousands of them died. Continue reading »

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Oct 23

Putin-Gold

India Gold Demand Surges 450% and Bank of Russia Demand At 15 Year High (Goldcore, Oct 22, 2014):

Demand for gold continues to be robust and has indeed increased significantly in recent weeks despite gold’s most recent paper driven gold weakness.

Demand in China and India surged again and gold reserve diversification by the central bank of Russia hit a new record high in September as geopolitical tensions rose.

russia-central-bank-gold-reserves

The seemingly insatiable appetite of the growing Indian middle class for gold is causing the government in India to again consider imposing sanctions on the importing of gold.  Continue reading »

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Oct 21

ICYMI: India-Pakistan Head for Nuke War (The Daily Beast,Oct 19, 2014):

A crisis is brewing between nuclear-armed India and Pakistan that could be their most dangerous ever.
India and Pakistan have fought four wars since 1947 and had several crises that went to the brink of war. Both tested nuclear weapons in 1998. Now tensions are escalating between the two again.

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Oct 06

Bill-Gates-Vaccines

India Holds Bill Gates Accountable For His Vaccine Crimes (VacTruth, Oct 5, 2014):

As Bill Gates faces a lawsuit for the illegal testing of tribal children in India, it appears that his crimes against humanity have finally caught up with him.

A recent report published by Health Impact News has reported that the Gates Foundation has found itself facing a pending lawsuit, due to an investigation that is being carried out by the Supreme Courts of India.

Health Impact News stated: Continue reading »

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Sep 25

With 50 Tonnes Of Gold Smuggled In 10 Days, India’s Physical Gold Premiums Set To Double (ZeroHedge, Sep 25, 2014):

As the price of precious metals that is eschewed daily by status-quo-hugging talking-heads on business media as indicative of the days of hard money being over continues to come under ‘pressure’, demand for physical gold remains extremely high. With India’s festive season about to begin, The Hindustan Times reports a massive surge in gold smuggling in the last 10 days as heavy demand for gold during Dussehra (for which booking and supply starts today when Navratri begins) has dragged 50 tonnes of gold across the borders to avoid the government’s capital controls. As Bloomberg adds, physical gold premiums may double by the end of October. Continue reading »

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Sep 23


Jun 10, 2014

See also:


Sep 24, 2013

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Sep 18

Gold Tumbles To 2014 Lows As China Unveils Anti-Rigging Benchmark (ZeroHedge, Sep 18, 2014):

With a Fed hinting at exit strategies, gold has tumbled to 2014 lows (and almost in the red year-to-date) as traders apparently forget Japan, China, and European central banks continue to (or are set to) print more money into the global reflation trade. It appears that as the West continues to sell ‘paper’ gold, the East remains enamnored as the PBOC announced this morning:

  • *CHINA TO FORM SHANGHAI GOLD BENCHMARK, PBOC GOVERNOR SAYS
  • *PBOC CHIEF ZHOU: GOLD MARKET IMPORTANT PART OF FINANCIAL MARKET
  • *SHANGHAI GOLD MARKET HAS TO AVOID SYSTEMIC RISK: PBOC’S ZHOU

Furthermore, traders have noted physical buying interest continues in the Asian region as premiums rise in China and India.

As Bloomberg reports, PBOC’s Zhou says Chinese gold market is crucial: Continue reading »

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Aug 25

India, Pakistan Intensify Shooting Across Border; Iran Downs Israel Drone; ISIS Seizes Military Airport (ZeroHedge, Aug 24, 2014):

Since in the New Normal no geopolitical events appear to have any adverse impact on risk and asset prices (because the central banks are always there to protect investors should the market “plunge” by say 5%) with general newsflow completely irrelevant on what has been a straight line up in the S&P since the announcement of QE4 in December 2012, one might as well see how much further geopolitical events can be pushed further before it all crashes.

In other words, time for this weekend’s geopolitical update.

Overnight both Pakistan and Iran have done their best to add to the geopolitical instability, which has already englufed Ukraine, and half the middle-east and north Africa, when on one hand Indian and Pakistani troops intensified firing across the border over the weekend killing at least four, an Indian official said on Sunday, straining ties between the arch rivals who recently called off top-level diplomatic talks. On the other moments ago news broke that Iran had shot down an Israeli spy drone heading for Iran’s Natanz nuclear enrichment facility.

Taking these one at a time. Continue reading »

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Aug 19

china-india

Chinese Troops ‘Invade’ 25Km Into India, “This Is Chinese Territory, Go Back” (ZeroHedge, Aug 18, 2014):

Update: who says media disinformation only takes place in Ukraine; apparently the same takes placed between India and China. Bloomberg cites an Indian army spokesman S.D. Goswami who denies Chinese entered territory in Ladakh, a mountainous area in northern India. “No incursion or encroachment of Indian territory by China has taken place along the India-China border,” Goswami says in statement. “There are areas along the border where India and China have differing perception” of line of actual control. “Due to both sides undertaking patrolling up to their respective.

Almost as if someone in the media world is eager to launch a war…

* * *

Fifteen months ago we reported China’s stealth invasion of India’s Ladakh region, and now, as PTI reports, Chinese troops are reported to have entered deep into Indian territory in Burtse area in Ladakh where they had pitched their tents last year. Indian troops spotted Chinese personnel 25 to 30 km from the perceived Line of Actual Control (LAC). PLA personnel carried flags reading “this is Chinese territory, go back” in their hands and they refused to move after being confronted by India’s quick response team.

As DNA India reports, Continue reading »

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Aug 10

What Every Well-Dressed Indian Businessman Is Wearing This Summer – A $210,000 Gold Shirt (ZeroHedge, Aug 9, 2014):

18 months ago – before The Reserve Bank Of India went full gold-tard (raising duties and capital controls), 32-year-old Datta Phuge unleashed his $25,000 gold shirt on the world’s women, proclaiming “I know I am not the best looking man in the world but surely no woman could fail to be dazzled by this shirt?” However, as RBI has lifted some gold restrictions (realizing the error of their ways after smuggling exploded), we introduce 45 year-old politician and textile magnate Pankaj Parakh… and his $210,000 gold shirt weighing 3.3 kilograms which took 20 people 3,200 hours to create. Now, if that doesn’t get him laid (or shot) we don’t know what will…

gold-shirt

As The Independent reports,

Pankaj Parakh, a local politician and the owner of a multi-million pound textile business near Mumbai, has had the shirt created out of pure love for the precious metal. Continue reading »

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Aug 10

First BRICS Bank, Now BRICS Food Bank (ZeroHedge, Aug 7, 2014):

Despite President Obama’s dictating that Russia is increasingly “isolated,” it appears they have found a whole new set of friends to play with in the global trade sandpit. In retaliation to Western sanctions, Putin yesterday unveiled a total food import ban from all sanctioning nations, and, just as the BRICS created their own ‘IMF-lite’ away from Washington’s prying eyes, Russia plans to substitute banned goods with not just domestic supplies but imports from Latin America, China, and several other nations. Agriculture Minister Nikolai Fedorov said “no food shortages are expected,” but more isolation for the West…

Russia is already turning away trucks at the border and cancelling orders (as FruitNet reports) Continue reading »

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Aug 02

India Slams US Global Hegemony By Scuttling Global Trade Deal, Puts Future Of WTO In Doubt (ZeroHedge, Aug 1, 2014):

In the last few days a new and curious question has emerged: would India embrace the US/Japan axis while foregoing its natural Developing Market, and BRICS, allies, Russia and China. We now have a clear answer and it is a resounding no, because in what was the latest slap on the face of now crashing on all sides US global hegemony, earlier today India refused to sign a critical global trade dea. Specifically, India’s unresolved demands led to the collapse of the first major global trade reform pact in two decades. WTO ministers had already agreed the global reform of customs procedures known as “trade facilitation” in Bali, Indonesia, last December, but were unable to overcome last minute Indian objections and get it into the WTO rule book by a July 31 deadline. WTO Director-General Roberto Azevedo told trade diplomats in Geneva, just two hours before the final deadline for a deal lapsed at midnight that “we have not been able to find a solution that would allow us to bridge that gap.

 

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Aug 01

BRICS-happy


Russia And India Begin Negotations To Use National Currencies In Settlements, Bypassing Dollar (ZeroHedge, July 31, 2014):

Over the past 6 months, there has been much talk about the strategic proximity between Russia and China, made even more proximal following the “holy grail” gas deal announced in May which would not have happened on such an accelerated time frame had it not been for US escalation in Ukraine.

And yet little has been said about that other just as crucial for the “new BRIC-centric world order” relationship, that between Russia and India. That is about to change when yesterday the Russian central bank announced that having been increasingly shunned by the west, Russia discussed cooperation with Reserve Bank of India Executive Director Shrikant Padmanabhan. The punchline: India agreed to create a task group to work out a mechanism for using national currencies in settlements. And so another major bilateral arrangement is set up that completely bypasses the dollar.

From the Russian Central Bank: Continue reading »

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Aug 01

Indian Farmer Suicide Testimonials Show Huge GMO Community Damage – Watch YIELD Here! (Sustainable Pulse, July 28, 2014):

Commissioned by the 2014 Food Safety and Sustainable Agriculture Forum, YIELD presents testimonies from the cotton farmers in Vidarbha, Maharashtra.

The region has suffered a high number of suicides among the debt-ridden farming community in the wake of the introduction of chemical farming and BT Cotton.

YIELD presents voices of dissent and resilience from within this community, victims of a corporate imperialism that threatens their means of living and future.

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Jul 25

Even WSJ agrees: GMOs threaten food security while offering no solution for India’s poor (Natural News, July 22, 2014):

The government of India appears to be slowly falling into the clutches of multinational chemical companies craftily pushing their own patented genetically modified (GM) crops as the solution to hunger and poverty, with a new bill set to deliver subsidized food made from these poisons to more than 800 million Indian people. But one prominent organizer with extensive knowledge in Indian farming issues says the answer is not GM crops but rather agro-ecological approaches that rely on organic, chemical-free growing methods.

Dilnavaz Variava, who heads the consumer issues division of the Alliance for Sustainable and Holistic Agriculture, says more than 1 million Indian farmers from roughly 10,000 villages throughout the country are already growing pesticide-free crops on more than 3.5 million acres with great success — apart from GMOs. This is the agriculture model with the greatest potential for feeding impoverished Indian people, she says, and the one that officials who are being courted by the biotech lobby are shamefully overlooking. Continue reading »

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Jul 20

–  BRICS Plan To Become “Political Alliance” To Reform The International Financial System (ZeroHedge, July 19, 2014):

As the world slowly turns against US Dollar hegemony, it appears the BRICS are pressing to fill any gaps. Having created the BRICS Bank “alternate to The West-controlled IMF or World Bank,”Xinhua reports that Russian Foreign Minister Sergei Lavrov believes the BRICS mechanism has been fully developed and can now transform into a political alliance to “reform the international financial system.”

BRICS-happy

As Xinhua reports,

The BRICS mechanism has been fully developed and can transform into a political alliance, Russian Foreign Minister Sergei Lavrov said Friday.

“BRICS grows and matures in all directions,” the diplomat told state-run Rossiya 24 TV channel. Continue reading »

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Jul 17

In my opinion gold in (extended or permanent) backwardation is signalling a total loss of confidence in the $US Dollar and is a clear sign that the dollar endgame is here.

The Great Depression will soon look like a walk in the park.


Dollar-Endgame

When You See This Happen, You Know It’s Game Over For The Dollar (ZeroHedge, July 16, 2014):

Exactly 70 years ago to the day, hundreds of delegates from 44 nations were busy at work in Bretton Woods, New Hampshire creating a brand new financial system.

World War II had just ended. Europe was in ruin.

And since the US was simultaneously the largest economy in the world, the primary victor in the war, and the only major power with its productive capacity intact, it was easy to dictate terms: the dollar would dominate the new system.

Every nation would hold dollars as the primary reserve currency, and the dollar would be redeemable for gold at $35/ounce. Continue reading »

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