Wednesday, September 25, 2013

Paul Craig Roberts - Washington’s Tyranny

By Paul Craig Roberts

Article link

The war criminal Barack Obama has declared his “outrage” over the 62 deaths associated with the takeover of a Nairobi, Kenya, shopping mall by al-Shabaab fighters. But the attack on the shopping mall was Obama’s fault. Al Shabaab spokesmen said that the attack on the Nairobi mall was a retaliatory response to the Kenyan troops sent to fight against them in Somalia. The Kenyan troops, of course, were sent to Somalia as a result of pressure from Washington.

Just as the outbreak of violence in Mali resulted from the fighters that Obama used against Gaddafi moving into Mali, Washington’s violence against Somalia has resulted in the terrorist attack on the Nairobi mall.

This fact again raises the never asked question: What is the real agenda of Washington’s “war on terror”? The western presstitutes never ask this question, nor do western legislative bodies.

Washington has offered a variety of justifications for its twelve years of wars. One is that
Washington is rooting out terrorism in order to protect Americans from 9/11 type events. Another is that “dictators” must be overthrown and replaced with “freedom and democracy.” Still another is false claims of the possession of “weapons of mass destruction” (Iraq) and the use of “weapons of mass destruction” (Syria).

None of Washington’s claims can withstand the barest scrutiny. None of the governments that Washington has overthrown and seeks to overthrow are terrorist states. Indeed, some are not even Islamist governments. Saddam Hussein’s Iraq had a secular government, as does Assad’s Syria.

Washington’s explanations for murdering Pakistanis and Yemenis with drones are even more nebulous. Moreover, using military means to kill citizens of countries with which the US is not at war lacks all legality.

When Obama gets on the moral high horse about deaths in Syria or Nairobi, his hypocrisy is astounding. A person would think obama would be ashamed. The Egyptian military, which is financed with $2 billion annually from Washington, has just overthrown the first elected president in Egypt’s history, banned the political party that Egyptians elected to power, and confiscated the political party’s assets, money, and buildings.

The Washington sponsored Egyptian military shot down in the streets many more Egyptians protesting the overthrow of their government by a military coup than died in the Nairobi mall. But we hear nothing from Washington or Obama about the need to support democracy in Egypt.

When the British Parliament voted down providing cover for Obama’s criminal attack on Syria, Parliament created space for Russia’s President Putin to resolve the Syrian situation by obtaining Syrian President Assad’s agreement to join the Organization for the Prohibition of Chemical Weapons and to turn over all Syrian chemical weapons to an international body.

The war monger Obama regime was outraged that Washington’s military attack on Syria had been blocked. Washington and the Israel Lobby went into full scale demonization of President Putin for orchestrating peace instead of war. The obama regime is trying to block the agreement by insisting on incorporating into the UN resolution an opportunity for attacking Syria if Washington is not convinced that all chemical weapons are turned over.

The entire world knows that Washington will again lie through its teeth, assert that all the weapons were not turned over and use the wedge that Washington is attempting to force into the UN resolution to start another war. Russian Foreign Minister Sergey Lavrov has publicly stated that Washington is trying to blackmail Russia into accepting the potential for military intervention in Syria as part of the agreement.

Until the 21st century, Washington carried out its relentless nefarious activities against other peoples and countries under cover and out of sight. In the 21st century the criminal bush and Obama regimes have brazenly demonstrated their disregard for US law, international law, and human rights.

Hubris and arrogance have run away with the “superpower.” The US stands reviled by the world. At the UN summit on September 23, the president of Brazil denounced the obama regime for its “breach of international law” revealed by the spy scandal. Bolivian President Evo Morales is filing a lawsuit against the Obama regime for “crimes against humanity.”

When the world looks at Washington, it cannot differentiate Washington from the dictatorships that Washington attributes to other countries. The Washington regime has declared that it is above both law and Constitution and possesses the power to detain citizens indefinitely and to murder them without due process of law. These powers comprise the necessary and sufficient conditions for dictatorship.

Who will liberate Americans from Washington’s tyranny, overthrow the executive branch dictatorship, and bring freedom and democracy to America?

Eric Sprott - The Fed Has Lost Control of the Bond Market

From silverdoctors

Obama UN Speech On Iran: We Are Not Seeking Regime Change

From The Young Turks

Mike Maloney - From DOLLAR CRISIS To Golden Opportunity

From SGTbull07

Santelli hits the debt ceiling reset button

Is There a Crack in the Great Firewall of China?

I suspect there is some truth to this article as this blog received its first significant hits from mainland China from the start of this year. Note in this video they mention the use of VPNs in China (Virtual Private Network) such networks access the internet via a third country such as the Netherlands and hence do not get tracked as coming from China.

Sept. 24 (Bloomberg) -- Shaun Rein, managing director at China Market Research Group, comments on China allowing access to Facebook and Twitter in the Shanghai free trade zone. He speaks with Emily Chang on Bloomberg Television's "Bloomberg West."

How the Chinese view Gold

Via the In Gold We Trust blog:

First published 1 August 2012 in Qiushi magazine, the main academic journal of the Chinese Communist Party’s Central Committee. Note: Sun Zhaoxue is the president of China National Gold Corporation. Translated by Soh Tiong Hum

By SUN Zhaoxue

Building a strong economic and financial security barrier for China

Because Gold possesses stable intrinsic value, it is both the cornerstone of countries’ currency and credit as well as a global strategic reserve. Without exception, world economic powers established and implement gold strategies at the national level. China is the world’s second largest economy, in order to enhance core competitiveness in a shorter period of time, an important aspect is an integrated policy of gold exploration, production, trade, consumption and investment so as to strengthen China’s control of this strategic resource, thereby effectively safeguard the country’s economic and financial security in the process of globalization and strengthen defense against external risks.

First, rediscover the status and role of gold reserves from a strategic height

After the disintegration of the Bretton Woods system in the 1970s, the gold standard which was in use for a century collapsed. Under the influence of the US Dollar hegemony the stabilizing effect of gold was widely questioned, the ‘gold is useless’ discussion began to spread around the globe. Many people thought that gold is no longer the monetary base, that storing gold will only increase the cost of reserves. Therefore, some central banks began to sell gold reserves and gold prices continued to slump. Affected by this point of view, the growth of gold reserves for China, the world's largest gold producer, began to slow.

Indeed, since mankind’s discovery of gold, gold because of its stability and rarity became mankind’s important method of exchanging labor and wealth. Along with the deepening of economic globalization gold stabilized societies and economies, prevented inflation, increased national credit-worthiness and stabilized exchange rates. It possesses a status that is irreplaceable by other capital assets. Especially since the outbreak of the international financial crisis, gold's safe-haven against inflation is increasingly prominent, its strategic position in the reserves of wealth regained world attention and central banks became net buyers of gold.

Currently, there are more and more people recognizing that the ‘gold is useless’ story contains too many lies. Gold now suffers from a ‘smokescreen’ designed by the US, which stores 74% of global official gold reserves, to put down other currencies and maintain the US Dollar hegemony. Going to the source, the rise of the US dollar and British pound, and later the euro currency, from a single country currency to a global or regional currency was supported by their huge gold reserves.

Especially noteworthy is that in the course of this international financial crisis, the US shows a huge financial deficit but it did not sell any of its gold reserves to reduce debt. Instead it turned on the printer, massively increasing the US Dollar supply, making the wealth of those countries and regions with foreign reserves mainly denominated in US Dollar quickly diminish, in effect automatically reducing their own debt. In stark contrast with the sharp depreciation of the US Dollar, international gold price continue to rise breaking $1900 US Dollars per ounce in 2011, gold’s asset-preservation contrasts vividly with the devaluation of credit-based assets. Naturally the more devalued the US Dollar, the more the gold price rises, the more evident the function of US gold reserves as a hedge. Although the international financial crisis was established in the US, the crisis failed to shake the dollar's status as an international currency. US net wealth did not appear to diminish with the same degree of the dollar's decline, an important reason why the US’ 8,133 tons of gold reserves play a role. In the global financial crisis, countries in the world political and economic game, we once again clearly see that gold reserves have an important function for financial stability and are an ‘anchor’ for national economic security.

After 30 years of reform and development, China has become a highly open country, not only moving in tandem with the world economy, but is playing an increasingly important role in the way the setup of the world economy changes. Therefore to win over new changes and challenges in the international post-crisis era, China must not only advance the internationalization of the Chinese RMB supported by a massive economy, but also view gold reserves as an important parameter and achieve a logical ratio between gold reserves and economic output. This requires us to make a forward looking judgment on the scale of gold reserves, build and implement quickly a national gold strategy that is suitable to China’s economic development.

Second, effort to increase domestic resource integration is our main channel to increase gold reserves

Because gold is a natural currency, from assuring national economic development and
security, to hastening the advancement of RMB internationalization, increasing gold reserves should become a central pillar in our country’s development strategy. International experience shows that a country requires 10% of foreign reserves in gold to ensure financial stability while achieving high economic growth concurrently. At the moment, the US, France, Italy and other countries’ gold accounts for 70% of forex reserves. Entering the new century, China increased its gold reserves twice in 2001 from 394 tons to 500 tons, and in 2003 to 600 tons. After the international financial crisis erupted, gold reserves were increased to 1054 tons but gold reserves account for less than 1.6% of forex reserves – a wide gap compared to developed countries.

Due to China’s huge forex reserves, it's difficult in the short term to make gold a main channel to accumulate forex reserves like the US and European countries. It's especially true that as global gold prices make new highs, increasing gold reserves also become more difficult [Author includes an idiom ’风物长宜放眼量’ from Mao Zedong here; idiom says that there are many setbacks and frustrations in life but one should adopt a long-term horizon to analyze a problem in order to find solutions]. We need to establish a more clear national gold strategy, look at benefits over a long term as a starting point, amply make use of two markets, two resources, continue to grow gold reserves and progressively become a ‘gold-reserve’ nation that is commensurate with the country’s economic strength. Based on current conditions, apart from accumulating gold from international markets at opportune moments, the main channel to implement a national gold strategy is to increases domestic gold integration through increasing gold production, this in order to strengthen the all-round development of China’s economy and financial ‘breakwater’.

In the new century, under the guidance of systematic development, China's gold industry ushered in a period of accelerated development and in one fell swoop got rid of the ‘poor gold country’ hat. From 2007 to 2011, China's gold production took global pole position and established a complete industrial system of gold, effectively supporting the national gold strategy. There are still many shortcomings in our current gold industry, particularly prominent problems include: generally small scale mining, low proven reserves, unconsolidated mining concessions, recovery of mining by-products, development order, environment protection and other aspects of uneven development. Statistics show that there were more than 500 Chinese regions that mine gold in 2011, making up more than 700 gold mines, yielding an average of 0.5 tons per mine. The world’s largest gold producer Barrick Gold Corporation of Canada produced 239.5 tons however.

To address this situation, China is also increasing gold resource integration efforts in recent years. However, due to long-standing lack of development of gold resources on strategic planning, and in recent years an illusion of wealth brought by the gold bull market, a variety of aspects of social capital have been involved in mining. To fundamentally solve these problems, the state will need to elevate gold to an equal strategic resource as oil and energy, from the whole industry chain to develop industry planning and resource strategies. First, we must restrict access, from a technical, financial, security and environmental protection perspective, to improve the access threshold for exploration of gold. To Raise the barrier of entry will gain the efficiency of mining. Second, to further improve mining management we must increase resource integration efforts, further develop and expand main gold exploration and development companies into leading enterprises, so as to achieve projects of scale. Third we should encourage key enterprises that are competitive to penetrate globally so as to avoid loss of bargaining power, because domestic enterprises consist of small players.

In addition, because individual investment demand is an important component of China’s gold reserve system, we should encourage individual investment demand for gold. Practice shows that gold possession by citizens is an effective supplement to national reserves and is very important to national financial security. World Gold Council statistics show that Chinese individuals possess less than 5 grams of gold per capita, a significant difference to the global average of more than 20 grams. This shows that there big potential for private ownership.

Third, committed to the promising and rigorous implementation of the national gold strategy

Formed in early 2003, China Gold Group Corporation is both China's largest gold production and sales enterprises, but also the gold industry’s only state owned enterprise. Under the direction of scientific development [this term appears several times – it can mean using a systematic approach or can also refer to a government directive] over the past 10 years, China Gold Group Corporation always adhered to building an excellent business, preventing financial risks and servicing the national situation as a top priority China Gold is committed to promote the coordinated development of gold industry’s exploration, mining, processing, consumption and investment in the industrial chain for a healthy development of China's gold market, in order to contribute to the effective implementation of the national gold strategy. In 2012, China Gold Group Corporation's total assets will exceed more than ¥60 billion yuan, sales revenue will exceed ¥100 billion yuan. Currently, the Group has a daily processing capacity of 150,000 tons of ore, business scope covers the entire value chain and has grown into China's gold industry leader. The group has to play a leadership role as state-own enterprise, to turn the gold industry into an important pillar of stable national economic growth under the national gold strategy.

In the "Twelve Five" period [abbreviation for central policy 5-year plan; 12-5 is the plan for period 2011-2015] we will target the gold industry with cutting-edge technology and continue to increase investment in science and technology for the implementation of a technology driven strategy to promote the optimization and upgrading of the gold industry. At present China Gold Group Corporation has three R&D projects incorporated into the "Twelve Five" National Science and Technology Support Program, appointed by the Ministry of Science to be a green gold mining technology feasibility study project.

The company plays a major role in promoting large-scale research projects. Through independent innovation and integrated innovation we address the constraints of gold exploration, mining, smelting and other areas of industry challenges, and continuously improve the comprehensive development and utilization of mineral resources capability. Meanwhile, we should focus on projects as an opportunity to revitalize the national equipment manufacturing industry as its mission, find ‘win-win’ models of cooperation for mining companies and equipment manufacturers, actively support localization of major equipment to promote the continuous innovation of major mining equipment producers.

To bear national responsibility and increase national gold reserves in the "Twelve Five" period, China Gold Group Corporation must firmly grasp the lifeline of resources with methods such as exploration to increasing proven reserves, merger and acquisition, base construction and opening up offshore gold resources to accelerate increase of national gold reserves. On the one hand, we should make full use of own research and manpower, increase number of talents, funds and equipment to carry out prospecting, achieve the highest gold reserves in the shortest time; on the other hand actively secure local government support to increase regional integration, breakthroughs, scientific development, achieving higher efficiency, to solve the gold industry’s problem of being resource-inefficient and environmentally destructive because of mining small, scattered, isolated, far’. In the near term, China Gold Group Corporation will, on the 20 national regions identified for gold production, speed up consolidation of small mines into a batch of technologically-advanced, environmentally friendly, ‘role-model’ enterprises that can produce 3-8 tons annually. Concurrently, actively implement a globalization strategy that will exploit overseas resources and increase channels to grow China’s gold reserves.

We should advocate to ‘store gold among the people’ and guide a healthy positive development in this segment. In recent years, the domestic gold industry’s rapid growth provided good conditions for various uses of gold, as well as create space for this business to grow faster. China Gold Group Corporation has to catch the opportunity, while increasing its supply capacity, to push ‘store gold among people’ strategy, actively extend the business value chain, increase gold investment types, encourage and promote individuals’ gold investment and consumption. Foremost, maximize the utilization of nearly 1600 China Gold retailers, increase sales channels, optimize sales network, strengthen branding and achieve to ‘store gold among the people’ and thus ‘store wealth among the people’. This is the objective under our gold strategy.

World economies are shaken and insecure, causes of instability are coming together and uncertainty is growing. The world economy faces new changes, new challenges and new opportunities, therefore we must relook the status and function of gold from a strategic height and create and implement a national gold strategy, to strengthen our country’s ability to counter complex situations. This is the only way for China’s gold industry to adopt a scientific evolution, to push China from across the milestone from a ‘large gold country’ to a ‘strong gold country’.

(Author : China Gold Group Corporation General Manager, President of China Gold Association)

Jim Rickards: Fed Knows Gold Has To Go Higher

From Kitco NEWS

Published on Sep 23, 2013

Kitco News was in New York City for Platinum Week and caught up with best-selling author Jim Rickards to talk the fed, gold and the international monetary system. According to Rickards, the Fed knows gold has to go higher but taper talks continue to put downward pressure on the yellow metal. Rickards expects the Fed to continue "tapering into weakness" and says there may even be a recession next year. Tune in now to hear his take on the global economy and hear more about his latest book entitled "The Death of Money & the Coming Collapse of the international Monetary System" due for release in April.

Jeff Berwick on the Nomad Capitalist: The Most Dangerous Word in the World

If you want to hear Jeff speak live and meet him after his presentation he will be one of the keynote speakers at the 6th annual Gold Investment Symposium in Sydney, 16-17 October 2013.

From TheDollarVigilante

Published on Sep 24, 2013

Jeff Berwick in Acapulco, Mexico is interviewed on The Nomad Capitalist Report The economic system is in a state of collapse and the United States is the epicenter. The US standard of living is based on debt and will soon be disappearing.

Jeff's Article "We is the most dangerous word in the world":

To find out more about Jeff's freedom enclave in Chile:

Keiser Report: Banksters' God Complex

From RT

Published on Sep 24, 2013

In this episode of the Keiser Report, Max Keiser and Stacy Herbert, discuss the US Federal Reserve Bank as 'the greatest hedge fund' in history and ask whether or not their quantitative easing policy is like trying to pass pork off as a prime cut of beef. In the second half, Max interviews precious metals trader, Andrew Maguire, about JPMorgan whistleblowers and the Federal Reserve Bank taper hoax.

Mike Maloney - Hidden Secrets Of Money 3 - Dollar Crisis To Golden Opportunity

From whygoldandsilver

Published on Sep 24, 2013

MORE: Today we bring you Episode 3 of Mike Maloney's Hidden Secrets of Money. You may have heard stories on the news lately that suggest an international move away from the US Dollar is underway...but have you ever seen these events listed on a timeline?

Join Mike Maloney in Singapore as he states his case for why he expects the world to have a new monetary system in this decade. Whether it is countries repatriating their gold supplies, or creating bilateral trade agreements -- these events are all deemed to be 'Golden Nails' in the coffin of the U.S. Dollar Standard.