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.

Continue reading »

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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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Oct 23

- India May Ban GMO Crop Field Trials for 10 Years (Natural Society, Oct 22, 2012):

It has been a devastating month for Monsanto as nations around the globe continue to enact bans and restraints on the company’s genetically modified crop varieties. India, the same country that hit Monsanto with ‘biopiracy’ charges for patenting life on the planet, is the latest nation to take a stand. The nation’s new expert committee appointed by the Supreme Court of India is now calling upon the Indian government to enact a 10 year ban on all GMO crop field trials for the next 10 years.

The new law would forbid any biotech agencies from testing their latest GMO crops on India’s soil, therefore preventing the serious issue of contamination and environmental damage. Contamination that is much more than an unlikely but problematic scenario. Monsanto has been caught in the past contaminating even organic seed varieties, and has gone as far as to plant their experimental crops before the USDA allowed them to. Thankfully, the organic farmers were able to catch the contamination before it spread.

Continue reading »

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Oct 05

- India’s Stock Exchange ‘Closes’ After State Bank ‘Flash-Crash’ (ZeroHedge, Oct 5, 2012):

While we have grown accustomed to the daily gyrations on mega-volume in the US equity markets, it seems the HFT-virus has spread as far afield as India this evening. India’s National Stock Exchange was halted – with no price dissemination – as State Bank of India plunged over 14% in seconds on massive relative volume (and HDFC and Infosys also fell), dragging the Nifty Index down 3%. Of course, the ‘error’ is being investigated and SBIN has recovered its losses…

  • *STATE BANK OF INDIA SHARES FALL 14% ON NATIONAL STOCK EXCHANGE
  • *INDIA’S NIFTY INDEX EXTENDS DECLINE TO 2.8%
  • *NATIONAL STOCK EXCHANGE SAYS VERIFYING SOURCE OF PRICE ERROR
  • *NATIONAL STOCK EXCHANGE SAYS NIFTY INDEX LEVELS NOT UPDATING
  • *INDIA’S NATIONAL STOCK EXCHANGE RESUMES TRADING
  • *INDIA’S SENSEX INDEX ERASES LOSS; GAINS 0.3% IN MUMBAI
  • *INDIA’S NSE SAYS `LOOKING INTO’ THE FREAK TRADE

Sigh! Continue reading »

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Sep 17

Again: Any atack on Iran is the beginning of WW III.


A World On The Verge Of War? (ZeroHedge, Sep 17, 2012):

Here is a summary of where the world stands:

From Reuters:

Members of Iran’s Islamic Revolutionary Guards Corps (IRGC) are providing non-military assistance in Syria and Iran may get involved militarily if its closest ally comes under attack, commander-in-chief Mohammad Ali Jafari said on Sunday.

Continue reading »

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Sep 11

- 2050 Years Of Global GDP History (ZeroHedge, Sep 10, 2012):

The chart below shows 2050 years of relative global GDP, during which there was a surprisingly flat distribution of the major economic powers: China, India, and the “West”, at least until the mid-1800s, when the “Western” Golden Age began primarily courtesy of the industrial revolution, followed by the arrival of the Fed and virtually endless leverage (i.e., borrowing from the future until such time as no more debt capacity remains at either the public or private sectors), only to end in the late 1900s when the marginal balance of power shifted back to Asia, which became the next nexus of debt accumulation (see our earlier post on The Great Recoupling for some additional perspectives).And while the chart, from Deutsche Bank and PWC, attempts to predict the next 40 years of relative GDP distribution by eventually regressing back to the the long-term trendline, we feel that this is quite an optimistic assumption for a world in which virtually every “developed” country is insolvent, begs for China to ease whenever western inflation sends gas prices soaring making reelection of the incumbent impossible, and is reliant on the indefinite continuation of the USD’s reserve status to preserve the last traces of western superiority (not to mention cheap funding of $-trillion deficits as far as the eye can see).

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Sep 10

- India’s Second Largest Iron-Ore Miner Halts All Activity (ZeroHedge, Sep 10, 2012):

While the plight of precious metal mining in the 3rd largest gold producer in the world has been well-documented here, as on ongoing strike in various South African mines has crippled precious metal supply, so far the mining shut down had not spread outside the continent of Africa (excluding the occasional Bolivian and Venezuelan mine nationalization). Today, however, even more mining capacity was taken offline, as India’s Goa, the country’s second largest iron ore producer, announced it was temporarily ceasing all mining activity “after an expert panel formed by the central government found “serious illegalities and irregularities” in mining operations.” While no gold production has been impacted yet, this move, which likely has political overtones, will likely shift to other extractors soon, as more production capacity is taken offline, for either labor or kickback reasons. And as reported previously, demand by the now largest importer of gold in the world China, refuses to decline with supply, which has clear implications for the equilibrium price. It remains to be seen if Goa going dark will push iron-ore prices higher. It is quite likely that the collapse in Chinese iron-ore demand offline is far greater than anything Goa will remove from the market and as such will hardly push iron prices higher.

From Reuters:

Goa has not banned movement of iron ore already produced and stored at ports or in transit, the statement said. The state will form a verification and clearance committee to scrutinize operations before giving approval to resume mining, R K Verma, principal secretary at mines and geology, said in a statement.

Continue reading »

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Sep 02


YouTube Added: 30.08.2012

Description:

Watch on youtube here: http://www.youtube.com/watch?v=J1bjdWTFMUM
or on journeyman here: http://vodsite.journeyman.tv/store?p=4885
For downloads and more information visit: http://www.journeyman.tv/?lid=63220

Our morning ritual speaks of our love affair with cotton: we throw off crisp cotton sheets, shower and dry ourselves with thick cotton towels, sweep fluffy cotton balls over our face, then slip on cotton panties, socks, t-shirts, jeans and jackets. With cotton so much in demand, we ask growers and seed developer Monsanto if the trade is fair, in a film that beats to the ancient rhythms of cotton production.

India is the world’s second largest producer, one of the largest consumers and one of the largest producers of organic cotton. Rural life revolves around it. Barefoot farmers plough their cotton fields. Traditional handlooms work the yarn – weavers working for wages their children would never accept. When the cotton is “sized” huge swathes of fabric run through the village.

Since 2002 India has replaced almost all its native varieties with genetically modified seeds – known as BT cotton – containing toxins that destroy pests. The price of cotton seed has soared from 9 rupees a kilo to a staggering 4,000. The cotton farmer’s life is a hard one; they treat their crops “like children,” since wildlife may destroy them and “man is so dependent on money.” Children toil in the fields for less than $2 a day.

Monsanto says farmers buy seeds developed with its technology as they have confidence in their yields. But Greenpeace claims GM farmers get into 80% more debt. Farmers blame suppliers when their seed turns out to be sterile: “Everything they said was a lie.” Experts examine plants and fail to find male/female parts to them. Monsanto denies its seeds carry a “Terminator” gene but Tiruvadi Jagadisan – former head of Monsanto India – alleges they do: “Introducing genetically modified seeds is murder!” Continue reading »

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Aug 31

- Confirmed: India’s Polio Eradication Campaign in 2011 Caused 47,500 Cases of Vaccine-Induced Polio Paralysis (Dr. Mercola, Aug 28, 2012):

If you listen to mainstream media news, you’ll be told that polio has now been eradicated in India – an accomplishment the Polio Global Eradication Initiative (PGEI), founded in 1988 by the World Health Organization (WHO), Rotary International, UNICEF, and the U.S. Centers for Disease Control and Prevention (CDC), are attributing to the intense polio vaccination campaign. The Indian government reportedly had 2.3 million vaccine administrators visit over 200 million households, with oral polio vaccinations given to nearly 170 million children 5 years of age and younger;1 health officials are now doubling their efforts to conquer polio in Pakistan as well. What you’re NOT learning from the mainstream media, however, is that there’s a growing public movement fighting the profound misinformation about the vaccine, mainly because VACCINE-CAUSED polio is maiming and even killing a growing number of children every day, far outstripping the damage done by the wild-type polio that has been supplanted by the manmade form found within the vaccine. Continue reading »

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Aug 29

- 350 Million Indian Families Starve As Politicians Loot $14.5 BIllion In Food (ZeroHedge, Aug 29, 2012):

While The Brits are about to tax their Super-Rich, it appears one of the old colonies remains in full anti-Robin-Hood mode. Nothing surprises us much anymore but this note from Bloomberg too the proverbial biscuit. In the “most mean-spirited, ruthlessly executed corruption,” India’s politicians and their criminal syndicates have looted as much as $14.5bn in food from one province alone. 57,000 tons of food meant for the devastatingly poor of the Uttar Pradesh region is sat in a government storage facility five football fields long. The ‘theft’ has blunted the nation’s only weapon against mass starvation and as Supreme Court commissioner Naresh Saxena notes: “What I find even more shocking is the lack of willingness in trying to stop it,” as the Minister for Food, who stands charged with attempted murder, kidnapping, armed robbery and electoral fraud, has diverted more than 80 percent of the food. “Who is a person who holds a below poverty line ration card? A person of no influence; you can just tell him to buzz off.” But there is growing tension “We could just storm the place, and every one of us could get a bag of rice each. Who would stop us?”

Via Bloomberg:

India has run the world’s largest public food distribution system for the poor since the failure of two successive monsoons led to the creation of the Food Corporation of India in 1965.

This scam, like many others involving politicians in India, remains unpunished. A state police force beholden to corrupt lawmakers, an underfunded federal anti-graft agency and a sluggish court system have resulted in five overlapping investigations over seven years — and zero convictions.

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Aug 05


YouTube Added: 29.07.2012

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