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Re: A new Global Economic Restructure in 2012
[Re: Elle]
#171688
02/06/15 10:49 PM
02/06/15 10:49 PM
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OP
Active Member 2019
Died February 12, 2019
2500+ Member
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Joined: Dec 2008
Posts: 2,536
Canada
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My Comment: Well last year, April 24, the federal court ruled in favor to some citizens who brought the Canadian Central Bank(Bank of Canada = BOC) to court. " This court case challenges the disuse of the Bank of Canada to create money for the public good." Another case was won Jan 26th 2015(see youtube video interview with Rocco Galati, prominent lawyer of the case: Comer vs BOC). Everyone was surprise they(citizens) had won the case. I'm amazed(but not surprised) that we haven't heard of it yet in the media. " THIS IS HUGE! Court Demands Bank Of Canada return to it's original mandate issuing it's currency Debt free Harper Government orders MEDIA BLACKOUT of this case" HISTORICAL COURT RULING IN CANADA AGAINST PRIVATE CENTRAL BANKINGhttp://www.liveleak.com/view?i=98b_1422999032http://investmentwatchblog.com/canadian-...drFfRkARqZo7.99 The Bank of Canada used to be a government lending institution, creating near interest free loans that built much of Canada’s infrastructure during the 50’s and 60’s. In 1974 at the Bank of International Settlements in Basel Switzerland, Trudeau Sr. was convinced by fellow Bilderberg attendees to dismantle this crucial function of the Bank of Canada, and since then we’ve lost sovereign control of our monetary policies and money supply and government debt at all levels has risen dramatically.This court case challenges the disuse of the Bank of Canada to create money for the public good.
The Federal Court of Canada has ruled against private central banking. Meanwhile, the Harper GovrenmentTM has ordered a media black out on this court case. Lets help spread the word!
Here is the Decision from the April 24, 2014 Appeal: http://decisions.fct-cf.gc.ca/fc-cf/decisions/en/item/72554/index.doInterview with Rocco Galati, prominent lawyer of the latest case Comer vs BOC : https://www.youtube.com/watch?v=cgdyWPxLf1s
Blessings
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Re: A new Global Economic Restructure in 2012
[Re: Elle]
#171776
02/12/15 11:58 AM
02/12/15 11:58 AM
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OP
Active Member 2019
Died February 12, 2019
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Joined: Dec 2008
Posts: 2,536
Canada
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My Comment: Below is a very good report and complilation of news done by Stephen Jones concerning the recent Minsk meeting between Putin(Russia), Hollande(France), Merkel(Germany), and Poroshenko(Ukraine) without inviting others like USA or NATO. It appears that Febuary 17 is the deadline for Mystery Babylon (owners of Fed Res.) to pay-up bonds due to the Chinese Royal Familes. While they can't pay it, there's talk of a plan for World War III. However, it appears there operation have been caught by Merkel and that's was the purpose of that meeting. Minsk Summit and Watching February 17http://www.gods-kingdom-ministries.net/daily-weblogs/2015/02-2015/watching-february-17-23/Feb 11, 2015 "Benjamin Fulford reported yesterday in his blog: Several e-mails were sent to this writer using complex cabalistic numerology to explain that February 17th would be the day that World War 3 starts. He expresses no opinion on this, but he understands that February 17 is certainly a very important economic deadline for Europe. He writes further, The Zionazi regime in Washington D.C. is also in trouble as it has yet to find a source of financing to keep it going after February 17th. The same is true for the European financial system. Last week, in his February 3rd blog, he explained: Meanwhile, the US corporate government faction supporting Obama is also in trouble. The Asian elders refused to roll over US corporate debt that came due on January 31st, according to Chinese government sources. In other words, some debts (bonds?) came due on January 31st. Such debts are usually renewed, or “rolled over,” but in this case the Asian elders want full repayment. Since the US corporation (government) lacked the money to repay, they were threatened with a default, but they were given until February 17 to find the money. On the financial front, the European Union is struggling to prevent the new Greek government’s vow to cancel debt from destroying the EU financial system. In the United States the corporate government is frantically trying to scrape up survival money before February 17th, the time they have been given to find funds after missing a January 31st payment deadline. How is it that the US is running short of money? He cites an article from Forbes on January 13, 2015, in which the IRS was saying that tax refunds could be delayed for lack of funds. Beyond this, I have no information and have not had time to research it fully. However, Richard Russell, the grandfather of financial newsletters, who is now 90 years old, is warning of a stock market crash in the near future. To see who Richard Russell is, look here: http://www.financialsense.com/contributors/richard-russellAnyway, he was interviewed by King World News (KWN) in an article published today, where he told people that he was recommending that his clients sell all of their stocks and buy gold. http://kingworldnews.com/richard-russell-world-now-headed-frightening-death-spiral/Government reports, of course, show that all is well, and the economy is doing very well. We have recovered fully from the crash of 2008, they say. But if you look at what is being said by those who look deeper, you find that the fundamentals are worse today than they were in 2008. The derivatives market is much more precarious, world debt has gone from $142 trillion to $199 trillion, and the Baltic Dry Index (which measures shipping and world trade) has now dropped lower than it was during the height of the banking crisis in 2008. In fact, it never really recovered from its previous high. See the chart here: http://investmenttools.com/futures/bdi_baltic_dry_index.htmAll of this provides background for a possible crisis or turning point on February 17. Considering the fact that virtually all large corporations have an astrologer or some other type of occultist on their payrolls, it is quite certain that all (or most of them) would take the “cabalistic numerology” seriously (from the Fulford quote at the beginning). In other words, whether we give credence to such things or not, the point is that THEY DO. What steps might they take, then, to protect themselves? If everyone sells their stock at the same time, the markets crash. It has to do with perception, not with the fundamental value of the stocks. In fact, the entire banking system and various currencies, which used to have value based upon its gold backing, is now valued according to peoples “faith.” It is a faith-based system, having no more value than what the people perceive it to have. This is why the government spends so much time giving sermons about faith in money, the stock market, and the economy. They do it to bolster our faith. They write their own economic Bible and then quote their own manipulated figures to prove their case. And they believe that this is what they were elected to do. Lies are built into their faith-based system, and the end justifies the means. That is the reality, and the more we recognize this, the better prepared we will be when their man-made religion proves to be false. The Ukraine SituationThe current president of Ukraine goes by the name of Petro Poroshenko. Fulford revealed his background in his blog on February 3, 2015, Let us start with a closer look at what is happening in the Ukraine. According to Russian intelligence, Ukrainian President Petro Poroshenko’s real name is Valshman. Citing New York court records, the Russians say he is a dual Israeli US citizen of Romanian ancestry who took on his wife’s name to appear Ukrainian. Remember Victoria Nuland, the Assistant Secretary of State for European and Eurasian Affairs in the US State Department? She is the one whose phone was tapped, and whose conversation showed that she had been given a $5 billion budget to pay people to overthrow the Ukrainian government a year ago. http://en.wikipedia.org/wiki/Victoria_NulandFulford reported a few days ago that Nuland’s assistant was arrested by the Germans, and that he confessed the whole sordid story. (Benjamin Fulford) Germans have arrested Victoria Nuland’s assistant, who in addition, is an employee of Vanguard Corporation, with almost a billion of high quality fake dollars, printed by Vanguard Corporation. This employee (is a member of the State Department), and now, during his interrogations, he “put under bus” Vanguard Corporation with all of its companies and “putting under bus” Nuland, McCain, Kerry, Brennan and others…
He testified how the Vanguard Corporation has printed billions of high quality fake dollars and paid to mercenaries in Syria, Iraq, Ukraine, Libya, etc and paid mercenaries of Greystone and ISIS. He testifies about connections and oil deals between Vanguard Corporation and ISIS….
He described how all of the major mass murders and atrocities were organized by the Vanguard Corporation and Greystone mercenaries; how he communicated with Igor Kolomoyskiy and how together they were spreading fake dollars in Ukraine…
Germans promised him freedom, to hide him and support if he will tell everything he knows… The Vanguard Corporation is a financial company, based in Malvern, PA, that manages about $3 trillion for investors. http://en.wikipedia.org/wiki/The_Vanguard_GroupAccording to Fulford, this Vanguard Group counterfeited US dollars to finance the Ukrainian coup and to pay bribes that would install the right government officials in the new government of Ukraine. He says that Victoria Nuland was the main liaison between Vanguard and the US State Department. The arrest of the Vanguard employee in January, he says, and the information that he gave investigators, is what caused Germany and France to break away from the US policy and to go to Russia to meet with Putin without the consent or approval of the US State Department. So on February 9, 2015 Fulford wrote in a blog, The defeat of the international Zionazi crime cabal is now inevitable due to rapidly unfolding events around the world, most notably in the Middle East and the Ukraine. The arrest by Germany last week (as reported in this blog) of a US government official carrying billions of dollars in forged US $100 bills destined for the Ukraine has had enormous and ongoing repercussions. The Pentagon contacted this writer to say this was “actionable intelligence….”
The discovery that American State Department officials were supplying forged dollars to both sides of the battle in the Eastern Ukraine has already caused Germany and France to split with the Zionazi regime in Washington D.C. German Chancellor Angela Merkel and French President Francois Hollande already met Russia’s Vladimir Putin last week without US approval and are planning on another meeting Wednesday. There is very little leaking in public about the talks but, according to Russian sources, France and Germany are seriously thinking of leaving NATO and creating alternative security arrangements with Russia.
The US official arrested by Germany has spilled the beans on exactly how the Zionazis were orchestrating the civil war in the Ukraine. The Vanguard Corporation, a front for the Federal Reserve Board (according to MI5) has paid mercenaries to kill people on both side of the conflict there so that they would blame it on each other. They also gave money to buy weapons to both sides of the conflict.
This is the same modus operandi they used to destroy Yugoslavia. It is the one also now in operation in Syria and Iraq. Some day the full truth will be known about this, but not until the Western oligarchs lose power over the mainstream media. At the present time, we have to wonder what may transpire between February 17 and 23.
Blessings
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Re: A new Global Economic Restructure in 2012
[Re: Elle]
#171778
02/12/15 12:20 PM
02/12/15 12:20 PM
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OP
Active Member 2019
Died February 12, 2019
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Joined: Dec 2008
Posts: 2,536
Canada
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Egypt to join Russia-led Eurasian free trade zoneRecall on May 29, 2014 Russia, Kazakhstan, and Belarus has signed the Eurasian agreement: http://rt.com/business/162200-russia-bealrus-kazakhstan-union/ Russia, Belarus, and Kazakhstan signed the historic Eurasian Economic Union which will come into effect in January 2015. Cutting down trade barriers and comprising over 170 million people it will be the largest common market in the ex-Soviet sphere.
"The just-signed treaty is of epoch-making, historic importance," Russian President Vladimir Putin said.
The troika of countries will cooperate in energy, industry, agriculture, and transport.
"In fact, we are shaping the largest common market in the CIS, with huge production, scientific and technological potential and enormous natural resources," the President added.
Citizens of Russia, Belarus, and Kazakhstan will have the right to work freely throughout the member states without having to be issued any special work permits, Putin said.... Egypt is now joining the Eurasian agreement. http://rt.com/business/230987-egypt-russia-free-trade/ Egypt has established a free trade zone with the Russian-led Eurasian Economic Union, which includes Russia, Armenia, Belarus, and Kazakhstan, president Sisi of Egypt announced at a joint news conference with Russian President Vladimir Putin.
“We have reached an agreement to establish a free trade zone between Egypt and the Eurasian Economic Union," Egyptian President Abdel al-Sisi said.
There was more than $4.5 billion of trade between Russia and Egypt in 2014, a more than 80 percent increase on the year before, said President Putin.
Now it will be easier for Egyptian products to reach the markets of Russia, Belarus, Kazakhstan, and Armenia, and vice-versa.
The possibility of setting up a free trade zone with Europe was discussed by Russia, Belarus and Kazakhstan last summer at a conference in Sochi.
The two countries also agreed to create a Russian industrial zone near the Suez Canal. Russian businesses have stakes in more than 400 Egyptian companies.
Russia and Egypt will work jointly on new investment projects, especially in transport, manufacturing, and energy – both oil and nuclear.
Lukoil, Russia’s second largest oil company produces more than 16 percent of the oil coming from Egypt.
Russia will help Egypt develop nuclear power plants and train personnel to create a new nuclear power industry in the country.
READ MORE: Trade, tourism & dumping dollars: Putin building bridges in Egypt
Egypt also wants to boost profits from Russian tourists. The country’s tourist sector suffered greatly due to a downgrade in security in the wake of the ouster of President Hosni Mubarak in 2011 and is currently struggling to win back foreign visitors.
In 2014, more than 3 million Russians traveled to Egypt for tourism despite the worsening economic situation in Russia.
Blessings
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Re: A new Global Economic Restructure in 2012
[Re: Elle]
#171975
02/21/15 12:20 PM
02/21/15 12:20 PM
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OP
Active Member 2019
Died February 12, 2019
2500+ Member
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Joined: Dec 2008
Posts: 2,536
Canada
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Will seek new ways of cooperation with China: Greek PM http://thebricspost.com/will-seek-new-ways-of-cooperation-with-china-greek-pm/#.VOiAaebF8udFebruary 20, 2015 Even as Greece continues negotiations over a bailout deal with the European Union, Greek Prime Minister Alexis Tsipras on Thursday praised bilateral cooperation between his country and China.
“We will seek new ways of cooperation between the Greek state and the Chinese side,” Tsipras said in a speech delivered at a reception hosted by the 18th escort fleet of the Chinese navy at Piraeus port.
Tsipras said his government will support China’s shipping conglomerate COSCO’s investment at Piraeus port, as well as Chinese investments in other sectors across Greece.
Talks between Greece and its 18 eurozone partners over the extension to Tsipras’ government’s bailout package broke down acrimoniously in Brussels.
Meanwhile, Tsipras underlined the significance of Sino-Greek collaboration in such operations in Libya and in Albania in the past.
“Greece will always stand by the side of Chinese people when needed,” Tsipras said.
Thursday’s event was attended among others by Greek Defense Minister Panos Kammenos and Chinese Ambassador to Greece Zou Xiaoli.
Greece’s Defense Minister Panos Kammenos said the two nations must boost defense ties.
“The visit of the 18th escort fleet of the Chinese navy is a great honor. It proves that good cooperation between the two nations can continue, and apart from the business sector, it can be extended in the defense industry,” he said.
Chinese Ambassador to Greece Zou Xiaoli said both Greece and China have contributed greatly to the ancient oceanic civilization.
“I am confident that the traditional friendly Sino-Greek relationship will be further developed based on the principle of mutual respect, mutual trust and win-win cooperation, benefiting the two peoples and making greater contribution to regional peace and cooperation, ” said Zou.
Three ships of the People’s Liberation Army Navy (PLA Navy) of the 18th escort fleet sailed in the port of Piraeus on Monday, after taking part in international anti-piracy operations in the Gulf of Aden and off Somalia’s coasts.
The 18th Chinese naval escort fleet concludes the visit to Greece on Friday, ending a tour across Europe which also included Britain, Germany, the Netherlands and France.
Blessings
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Re: A new Global Economic Restructure in 2012
[Re: Elle]
#172129
02/28/15 01:15 PM
02/28/15 01:15 PM
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OP
Active Member 2019
Died February 12, 2019
2500+ Member
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Joined: Dec 2008
Posts: 2,536
Canada
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It's time for China to bid farewell to the dollar peghttps://www.businessspectator.com.au/article/2015/2/24/china/its-time-china-bid-farewell-dollar-pegGUONAN MA 24 FEB, 12:35 PM ECONOMY CHINA The Chinese renminbi (RMB) depreciated 2.5 per cent against the US dollar in 2014. This was the first depreciation since 2005, when Beijing timidly started loosening its tight dollar peg. Recently, the RMB has repeatedly tested the weak side of its daily trading band, despite attempts by the People’s Bank of China (PBC) to signal its preference for a steadier bilateral RMB-USD rate via its daily fixing (Figure 1, left panel). What has led to the changing fortunes of the RMB? What lies ahead for the currency in 2015?
I can think of several possible factors leading to the most recent bout of weakness in the bilateral RMB-USD exchange rate.
The most obvious culprit is the broad strength of the US dollar (Figure 1, right panel). For instance, since start-2014, the euro and yen have weakened by 15 per cent against the dollar, respectively. Consequently, the Chinese ‘redback’ has also weakened slightly against the almighty American ‘greenback’, though the RMB is still outperforming most other major and emerging market currencies. According to BIS statistics, the RMB gained some 7 per cent in effective terms in 2014 and has remained one of the few strong currencies globally.
The second and related factor is the monetary policy divergence between China and the US. Whereas the US Fed is expected to start raising its policy rate and has already stopped further unconventional (net) bond buying, the PBC has embarked on a cycle of monetary easing. Hence the anticipated interest rate differential between the two currencies is narrowing.
The third factor concerns the underlying currency valuation. Over the past decade, the RMB has gained 50 per cent on a broad real effective basis, a strength few major advanced or emerging market currencies can match. Even allowing for fast Chinese productivity growth, there are now questions about whether the RMB is already fairly valued or even somewhat overvalued. Simply put, the once broad-based market consensus of an undervalued RMB is gone, after its massive cumulative appreciation.
Fourth, more market participants are becoming worried about signs of increased stress in the Chinese financial system. As the exchange rate is one of the most important financial asset prices, how can one expect an ever-stronger RMB on top of a more fragile Chinese financial sector? It makes little sense to dread Chinese shadow banking and to preach meaningful RMB appreciation at the same time.
Finally, the PBC appears to have taken a more hands-off approach towards managing the RMB. Since early 2014, it has intervened less in the FX market and widened the daily trading band. But it has also occasionally stepped in to restore market functioning, disrupting carry trade and successfully injecting some 2-way volatility. A growing offshore RMB market in Hong Kong also adds to its interactions with the onshore RMB market, with risk sentiment possibly playing a bigger role in RMB exchange rate dynamics. We estimate the offshore RMB turnover to have more than doubled in the past two years.
Hence a mighty US dollar, monetary policy divergence, currency valuation concerns, and less PBC intervention all combine to sway currency expectations, raise volatility and narrow interest rate differentials. Thus the implied Sharpe ratio declines, prompting an increase in Chinese corporate hedging of dollar liabilities, with rising dollar deposits and a more rapid extinguishing of Chinese corporate dollar debts, estimated at more than US$1trillion in 2014. Added to Chinese demand for US dollars have been the growing overseas acquisitions by Chinese companies.
In balance-of-payments terms, the fourth quarter of 2014 saw the largest Chinese capital outflow in 16 years, and official foreign exchange reserves have fallen steadily since mid-2014, though this is in part due to valuation effects. In short, demand for US dollars by Chinese residents has risen, weakening the RMB-USD exchange rate.
What will happen next? It depends a lot on how the PBC will respond to Chinese corporate dollar buying. I envision three possibilities.
First, the PBC could cling more tightly to the dollar peg in ‘stormy weather’, just like it did in the 2008 Global Financial Crisis and the 1998 Asian Financial Crisis. The result will be a heavy deflationary blow to the Chinese economy in an environment of persistent dollar strength, a PBC put on the RMB firmly instilled into market expectations and some brief sense of stability. In this case, the looser dollar peg could tighten again.
Second, the PBC could take a ‘laissez faire’ approach, completely stepping back from the currency market to let it clear itself, perhaps in a wider trading band. This would result in sharp volatility and even some corporate stress unless capital controls were tightened considerably. In this case, the loose dollar peg could vanish fast.
A third and more likely scenario would be for the PBC to let the RMB move more freely against the dollar but prepare to lean against the wind by selling dollars out of its official reserves from time to time while keeping a watchful eye on cross-border capital flows. In this case, the loose dollar peg would start fading gradually.
This last approach makes sense for a number of reasons. In the short term, it would help deliver a warranted Chinese monetary easing by helping stabilise the effective exchange rate and an orderly unwinding of the Chinese corporate carry trade. In the longer term, it would help enhance two-way currency flexibility ahead of fuller interest rate deregulation and greater capital account liberalisation.
This 20-year old but increasingly loose dollar peg has served the Chinese economy well as a simple nominal anchor, but its time is up. First, as the biggest trading nation and second largest economy on earth, China is simply too big to be anchored to any single currency, even in a loose fashion. Second, a much more flexible RMB is needed before full interest rate liberalisation and substantial capital opening. Third, a dollar peg has often amplified external shocks to the Chinese economy rather than absorbing them, in part because of the dollar’s safe haven role. Finally, the US no longer welcomes a renewed Chinese peg to its currency and yet demands nothing but ‘one-direction flexibility’.
It's high time the PBC starts seriously letting the aging dollar peg go.
Blessings
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Re: A new Global Economic Restructure in 2012
[Re: Elle]
#172366
03/09/15 11:44 AM
03/09/15 11:44 AM
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OP
Active Member 2019
Died February 12, 2019
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My comment: This article suggest that China (along with its partner s -- mainly Russia) will take control of Gold pricing on April 1st. The new London gold fix and Chinahttp://www.goldmoney.com/research/analysis/the-new-london-gold-fix-and-china?gmrefcode=gataBy Alasdair Macleod Posted 06 March 2015 " From 1st April the Financial Conduct Authority will extend its powers from regulating the participants to regulating the fix as well. This will transfer price control away from the bullion banks allowing direct access to the fixing process for all direct participants and sponsored clients.From this flow two important consequences. Firstly, the London market is changing from an unregulated to a partially regulated market, reducing room for price manipulation. And secondly, the major Chinese state-owned banks, assuming they register as direct participants, have the opportunity to dominate the London physical market without having to deal through one of the current fixing banks. No announcement has been made yet as to who the direct participants will be, but it is a racing certainty China will be represented. Implications of becoming a regulated marketUnder the current regime a buyer or seller on the fix has to deal through one of the four fixing bullion banks. The information gained by them from seeing this business is crucial, giving them a quasi-monopolistic trading advantage over all the other dealers. Instead, buyers and sellers will be anonymous during the auction process. The new platform should, therefore, ensure equal opportunity, eliminating the advantage enjoyed by the fixing banks. Crucially, it will change market domination from the privileged fixing members in favour of the deepest pockets. These are almost certain to be China's through the state-owned banks which already control the largest physical market in Asia, the Shanghai Gold Exchange (SGE). China's gold strategyChina actually took its first deliberate step towards eventual domination of the gold market as long ago as June 1983, when regulations on the control of gold and silver were passed by the State Council. The following Articles extracted from the English translation set out the objectives very clearly: Article 1. These Regulations are formulated to strengthen control over gold and silver, to guarantee the State's gold and silver requirements for its economic development and to outlaw gold and silver smuggling and speculation and profiteering activities. Article 3. The State shall pursue a policy of unified control, monopoly purchase and distribution of gold and silver. The total income and expenditure of gold and silver of State organs, the armed forces, organizations, schools, State enterprises, institutions and collective urban and rural economic organizations (hereinafter referred to as domestic units) shall be incorporated into the State plan for the receipt and expenditure of gold and silver. Article 4. The People's Bank of China shall be the State organ responsible for the control of gold and silver in the People's Republic of China. Article 5. All gold and silver held by domestic units, with the exception of raw materials, equipment, household utensils and mementos which the People's Bank of China has permitted to be kept, must be sold to the People's Bank of China. No gold and silver may be personally disposed of or kept without authorisation. Article 6. All gold and silver legally gained by individuals shall come under the protection of the State. Article 8. All gold and silver purchases shall be transacted through the People's Bank of China. No unit or individual shall purchase gold and silver unless authorised or entrusted to do so by the People's Bank of China. Article 12. All gold and silver sold by individuals must be sold to the People's Bank of China. Article 25. No restriction shall be imposed on the amount of gold and silver brought into the People's Republic of China, but declaration and registration must be made to the Customs authorities of the People's Republic of China upon entry. Article 26. Inspection and clearance by the People's Republic of China Customs of gold and silver taken or retaken abroad shall be made in accordance with the amount shown on the certificate issued by the People's Bank of China or the original declaration and registration form made on entry. All gold and silver without a covering certificate or in excess of the amount declared and registered upon entry shall not be allowed to be taken out of the country. Additionally, China has deliberately developed her gold production regardless of cost so that she is now the largest producer by far in the world today. State-owned refineries process this gold along with doré imported from elsewhere. None of this gold leaves China. The regulations quoted above formalise the State's monopoly over all gold and silver which is exercised through the People's Bank, and they allow the free importation of gold and silver but keep exports under very tight control. On the basis of these regulations and as subsequently amended the People's Bank established the SGE, which remains under its total control. The intent behind the regulations is not to establish or permit the free trade of gold and silver, but to control these commodities in the interest of the state. This being the case, the growth of Chinese gold imports recorded as deliveries to the public since 2002 is only the most recent evidence of a deliberate act of policy embarked upon thirty-two years ago. China had been accumulating gold for nineteen years before she allowed her own nationals to buy any when private ownership was finally permitted. Furthermore, the bullion was freely available, because in seventeen of those years gold was in a severe bear market fuelled by a combination of supply from central bank disposals, leasing, scrap, rapidly-increasing mine production and investor selling, all of which I estimate totalled about 76,000 tonnes in all. The two largest buyers for all this gold for much of the time were the Middle East and China. The breakdown from these sources and the likely demand are identified in the table below taken from my article for GoldMoney on the subject published last October, where a more detailed discussion of global bullion distribution during those years can be found. Put in another context the cost of China's 25,000 tonnes of gold equates to roughly 10% of her exports over the period, and the eighties and early nineties in particular, also saw huge capital inflows when multinational corporations were building factories in China. However, the figure for China's gold accumulation is at best informed speculation, but given the determination expressed in the 1983 regulations and subsequent events it is clear she had deliberately accumulated a significant undeclared stockpile by 2002. So far China's long-term plans for the acquisition of gold appear to have achieved some important objectives. Deliveries to the public through the SGE since only 2008 totalled 8,459 tonnes, gross of returned scrap, probably more than 9,500 tonnes since 2002 given estimated domestic mine production of 1,352 tonnes between2002-2007. With such a large commitment to this market, we must now anticipate the next stage for China's gold policy, which is why the changes in London may be important. China now has the opportunity to take a dominant role in London, without having to direct its order flows through the fixing banks. Therefore, it is no exaggeration to say that from 20th March, China will be able to control the global physical gold market, which will permit her to manage the price. She has the deepest pockets, backed by the largest single stockpile.China's motivesChina's motives for taking control of the gold bullion market have almost certainly evolved. The regulations of 1983 make sense as part of a forward-looking plan to ensure that some of the benefits of industrialisation would be accumulated as a counterparty risk free national asset. This reasoning is similar to that of the Arab nations capitalising on the oil-price bonanza only ten years earlier, which led them to accumulate their hoard for the benefit of future generations. However, as time passed the world has changed both economically and politically. 2002 was a significant year for China, when geopolitical considerations entered the picture. Not only did the People's Bank establish the SGE to facilitate deliveries to private investors, but this was the year the Shanghai Cooperation Organisation (SCO) formally adopted its charter. This merger of security and economic interests with Russia has bound Russia and China together with a number of resource-rich Asian states into an economic bloc. When India, Iran, Mongolia, Afghanistan and Pakistan join (as they are committed to do), the SCO will cover more than half the world's population. And inevitably the SCO's members are looking for an alternative trade settlement system to using the US dollar. At some stage China with her SCO partner, Russia, will force the price of gold higher as part of their currency strategy. You can argue this from an economic point of view on the basis that possession of properly priced gold will give her a financial dominance over global trade at a time when we are trashing our fiat currencies, or more simply that there's no point in owning an asset and suppressing its value for ever. From 2002 there evolved a geopolitical argument: both China and Russia having initially wanted to embrace American and Western European capitalism no longer sought to do so, seeing us as soft enemies instead. The Chinese public were then encouraged even by public service advertising to buy gold, helping to denude the west of her remaining bullion stocks and to provide market liquidity in China. What is truly amazing is the western economic and political establishment have dismissed the importance of gold and ignored all the warning signals. They do not seem to realise the power they have given China and Russia to create financial chaos by simply hiking the gold price. If they do, which seems to be only a matter of time, then London's fractional reserve system of unallocated gold accounts would simply collapse, leaving Shanghai as the only major physical market. Therefore the failure of the London bullion market to see strategically beyond its short-term interests has opened the door to China's powerful state-owned banking monopoly to control the gold bullion market. This is probably the final link in China's long-standing gold strategy, and through it a planned domination of the global economy in partnership with Russia and the other SCO nations.
Blessings
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Re: A new Global Economic Restructure in 2012
[Re: Elle]
#172368
03/09/15 01:24 PM
03/09/15 01:24 PM
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My Comment: The article above mentions that China & Russia & SCO would be behind the gold pricing after April 1st. The SCO (Shanghai Cooperation Organisation) currently constitute --China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. " Observer states at the SCO are Afghanistan, India, Iran, Mongolia, and Pakistan. Belarus, Turkey and Sri Lanka have a status of partners in dialogue. ...India and Pakistan could be granted full-fledged membership in the Shanghai Cooperation Organization at its next summit in Russia’s Ufa in July 2015. " Russia to chair Beijing meet of regional security bloc SCO http://thebricspost.com/russia-to-chair-beijing-meet-of-regional-security-bloc-sco/#.VP2o5nzF8ucMarch 9, 2015 Russia will chair a meet of the SCO, a China-Russia-led security bloc, that opens in Beijing on Tuesday.
The council of national coordinators of the Shanghai Cooperation Organisation will hold a Beijing meet from March 10-13, ahead of this year’s annual summit, said an official statement on Monday.
Both China and Russia have invested heavily in the resource-rich region of Central Asia.
Alexander Yakovenko, Russian envoy to the UK, has said “the SCO Business Council, Interbank Consortium, and Energy Club are at the forefront of expanding practical cooperation among member states”.
China, Russia and four Central Asian nations – Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan – formed the SCO in 2001 as a regional security bloc to fight threats posed by terrorism and drug trafficking from neighboring Afghanistan.
Cooperation between China and Russia on Afghanistan has been growing since 2013 and could become a major factor for Afghan leadership following a US withdrawal.
As the US and EU step up pressure on Moscow with threats of new rounds of sanctions, Russia is seeking to strengthen ties with allies in the region, predominantly the BRICS and SCO members.
Observer states at the SCO are Afghanistan, India, Iran, Mongolia, and Pakistan. Belarus, Turkey and Sri Lanka have a status of partners in dialogue.
Kremlin spokesperson Yuri Ushakov has indicated last year that India and Pakistan could be granted full-fledged membership in the Shanghai Cooperation Organization at its next summit in Russia’s Ufa in July 2015.
The next SCO summit will be held in Russia’s city of Ufa on July 9-10, 2015 along with the 7th BRICS Summit.
Russia has taken over presidency of the SCO in September 2014. Moscow has vowed to use its presidency of the SCO to advocate for coordinated steps on the economy, financial sector, energy, and food security.
Russian President Vladimir Putin and his Chinese counterpart Xi Jinping said last year that members of the SCO share identical views on economic and political cooperation, including the Ukraine crisis and subsequent sanctions.
“At the meeting in narrow format we discussed some other current international affairs too, including the situation in Ukraine. We are very pleased to see that we share identical or similar views on the main areas of cooperation. This consensus of views is reflected in the Dushanbe Declaration that we are adopting,” said Putin.
Blessings
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Re: A new Global Economic Restructure in 2012
[Re: Elle]
#172383
03/11/15 12:13 PM
03/11/15 12:13 PM
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My comments: We have heard that RUSSIA is working on setting up an alternative SWIFT system that started to be tested last December. Now we hear that China have theirs almost completed and ready to be launched this fall. There's two articles below about it. China's mega international payment system is ready, will launch this year - reporthttp://rt.com/business/239189-china-payment-system-ready/ The China International Payment System (CIPS) is due to kick off this year, bringing the yuan a step closer to becoming a global trading currency, as the new system will make payment transfers just as easy as in dollars and euro.
The launch is expected in September or October, depending on how tests go, a source told Reuters. Another person with direct knowledge of the matter said the goal is to start the first phase before December, Reuters reported.
"The CIPS is ready now and China has selected 20 banks to do the testing, among which 13 banks are Chinese banks and the rest are subsidiaries of foreign banks," one of the sources told the agency.
Read more
Russia to launch alternative to SWIFT bank transaction system in spring 2015
CIPS will use the same coding system as other international payment systems, which will make transactions more fluid and rapid. The super-network will consolidate and replace the existing multiple clearing houses that process yuan payments, and will rival majors like Visa and MasterCard.
The move should help bump the yuan’s presence on the international stage, as the payment system will make it faster and easier to carry out cross-border transactions using the Chinese currency.
It’s the fifth most-used currency in international payments, according to the SWIFT network. In December 2014, about 2.17 percent of payments were made in yuan, up from 0.63 percent in 2013.
READ MORE: Chinese yuan now top 5 major intl payment currency
For a while China has been exploring methods to cut dependence on the dollar and other hard currencies in international trade, hoping to settle more deals in yuan.
China, the world’s second biggest economy, grew by 7.4 percent in 2014, but has trimmed its 2015 forecast to seven percent, the lowest growth rate in the last 25 years. Despite the slight slowdown, it is still expected to be the fastest growing economy of 2015, according to a poll of economists by Bloomberg. by Tyler Durden on 03/09/2015 One of the recurring threats used by the western nations in their cold (and increasingly more hot) war with Russia, is that Putin's regime may be locked out of all international monetary transactions when Moscow is disconnected from the EU-based global currency messaging and interchange service known as SWIFT (a move, incidentally, which SWIFT lamented as was revealed in October when we reported that it announces it "regrets the pressure" to disconnect Russia). Of course, in the aftermath of revelations that back in 2013, none other than the NSA was exposed for secretly 'monitoring' the SWIFT payments flows, one could wonder if being kicked out of SWIFT is a curse or a blessing, however Russia did not need any further warnings and as we reported less than a month ago, Russia launched its own 'SWIFT'-alternative, linking 91 credit institutions initially. This in turn suggested that de-dollarization is considerably further along than many had expected, which coupled with Russia's record dumping of TSYs, demonstrated just how seriously Putin is taking the threat to be isolated from the western payment system. It was only logical that he would come up with his own. There were two clear implications from this use of money as a means of waging covert war: i) unless someone else followed Russia out of SWIFT, its action, while notable and valiant, would be pointless - after all, if everyone else is still using SWIFT by default, then anything Russia implements for processing foreign payments is irrelevant and ii) if indeed the Russian example of exiting a western-mediated payment system was successful and copied, it would accelerate the demise of the Dollar's status as reserve currency, which is thus by default since there are no alternatives. Provide alternatives, and the entire reserve system begins to crack. Today, we got proof that it is the second outcome that is about to prevail following a Reuters report that China's international payment system, known simply enough as China International Payment System (CIPS), which serves to process cross-border yuan transactions is ready, and may be launched as early as September or October. According to Reuters, the launch of the will remove one of the biggest hurdles to internationalizing the yuan and should greatly increase global usage of the Chinese currency by cutting transaction costs and processing times. It will also put the yuan on a more even footing with other major global currencies like the U.S. dollar, as CIPS is expected to use the same messaging format as other international payment systems, making transactions smoother.
CIPS, which would be a worldwide payments superhighway for the yuan, will replace a patchwork of existing networks that make processing renminbi payments a more cumbersome process. In other words, while the west was using every provocation involving the Ukraine civil war as an opportunity to pressure Russia into developing its own cross-border payment system, it achieved not only just that but it also pushed China to accelerate the roll out of its own international payment system, in the process telegraphing to the world that the USD is replacable as a reserve currency and giving any other nations (such as the BRICs) the green light to think of SWIFT as an alternative to either the Russian or Chinese payment system (which with enough political and financial stimulus, they would be delighted to do). But what is most disturbing is just how quickly the Chinese regime change is coming: "If it's all smooth, (the launch) will be in September or October. If there is a need for a bit more time, we are still confident about (rolling it out) before the year-end," said the source, who declined to be named because he is not authorized to speak to the media.
The system was expected to be launched in 2014 but was delayed by technical problems, with most market participants anticipating it would not come on stream before 2016. Needless to say, China will be delighted to have its own unified payment system, one that will further internationalize the Renminbi which at least check had become one of the top five payment currencies in November 2014, overtaking both the Canadian and the Australian dollar based on SWIFT data. Until now, cross-border yuan clearing has to be done either through one of the offshore yuan clearing banks in the likes of Hong Kong, Singapore and London, or else with the help of a correspondent bank in mainland China. "Misunderstandings under the current clearing system happen from time-to-time due to different languages and codings. The CIPS is a breakthrough since it will offer a united platform and enhance efficiency," said Raymond Yeung, an analyst at ANZ in Hong Kong.
The launch of CIPS will enable companies outside China to clear yuan transactions with their Chinese counterparts directly, reducing the number of stages a payment has to go through.
It will also make it far more difficult for the NSA to track payments to and from the mainland when such compromised intermediaries as SWIFT are used. This is how the Mercator Institute for China Studies previewed this major development: The Chinese government is striving towards a controlled internationalization of China's currency through a step-by-step expansion of the use of the RMB in Chinese foreign trade and investment. Towards this end, a worldwide network of agreements dealing with central bank currency swaps, the direct exchange of the RMB with other currencies, and RMB clearing hubs has been built. The establishment of an independent payment system (CIPS) for RMB transactions and an alternative to the existing SWIFT would further increase China’s autonomy vis-à-vis U.S. centred financial market structures. Finally, as it becomes easier to transact in non-USD terms, it will merely accelerate the adoption of the Chinese Yuan as the primary currency of global trade, or what little is left of it, as opposed to the currency of financial engineering. Global yuan payments increased by 20.3 percent in value in December compared to a year earlier, while the growth for payments across all currencies was 14.9 percent for the same period, SWIFT said.
China has accelerated the pace of yuan internationalization in recent years. The central bank assigned 10 official yuan clearing banks last year, bringing the total number to 14 globally that can clear yuan transactions with China. The final observation to make here is that if indeed it was the Obama administration's brilliant ploy to kick out Russia - and by geopolitical affiliation, China - out of a monetary transaction mechanism that is controlled and supervised by the US and force the two biggest challengers to US global dominance into their own (or joint) payment system, then well, congratulations: it succeeded.
Blessings
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Re: A new Global Economic Restructure in 2012
[Re: Elle]
#172412
03/13/15 11:27 AM
03/13/15 11:27 AM
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My comment : This took me by surprise. I was expecting Germany or France to be the first one, but not the UK. This is a major break thru that will open the doors for the other Western countries to join in. The USA will probably be the last to join, but they will eventually. Than after the fall of the complete financial arm of Mystery Babylon, what will be left is for its "political arm" (Zionist faction) to fall. UK snubs US to join China-led Asian bank http://thebricspost.com/uk-snubs-us-to-join-china-led-asian-bank/#.VQLWmHzF8ucMarch 13, 2015 Overlooking US censure, the UK has announced its decision to join China’s Asian Infrastructure Investment Bank, becoming the first “major western country” to apply for membership.
“I am delighted to announce today that the UK will be the first major Western country to become a prospective founder member of the Asian Infrastructure Investment Bank, which has already received significant support in the region,” said UK Finance Minister George Osborne on Thursday.
“Joining the AIIB at the founding stage will create an unrivalled opportunity for the UK and Asia to invest and grow together,” he added.
In a landmark achievement, 21 Asian nations including China and India in October last year signed on the creation of a new infrastructure investment bank which would rival the World Bank. The new Bank has a capital target of more than $100 billion.
The governments of Bangladesh, [censored] Darussalam, Cambodia, China, India, Kazakhstan, Kuwait, Lao PDR, Malaysia, Mongolia, Myanmar, Nepal, Oman, Pakistan, Philippines, Uzbekistan, Qatar, Singapore, Sri Lanka, Thailand, Uzbekistan, Vietnam signed on as founding members of the new Asia Infrastructure Investment Bank (AIIB) in Beijing.
“The UK will join discussions later this month with other founding members,” said a UK government statement on Thursday.
Washington reacted to UK’s announcement by saying it is circumspect about whether the AIIB would have sufficiently high standards on governance and environmental and social safeguards.
“We hope and expect that the U.K. will use its voice to push for adoption of high standards,” said Patrick Ventrell, spokesman for President Barack Obama’s National Security Council
The authorized capital of AIIB is $100 billion and the initial subscribed capital is expected to be around $50 billion. The paid-in ratio will be 20 per cent.
AIIB will be an inter-governmental regional development institution in Asia and Beijing will be the host city for AIIB’s headquarters.
The AIIB will extend China’s financial reach and compete not only with the World Bank, but also with the Asian Development Bank, which is heavily dominated by Japan.
China and other emerging economies, including BRICS, have long protested against their limited voice at other multilateral development banks, including the World Bank, International Monetary Fund and Asian Development Bank (ADB).
China is grouped in the ‘Category II’ voting bloc at the World Bank while at the Asian Development Bank, China with a 5.5 per cent share is far outdone by America’s 15.7 per cent and Japan’s 15.6 per cent share.
The ADB has estimated that in the next decade Asian countries will need $8 trillion in infrastructure investments to maintain the current economic growth rate.
China scholar Asit Biswas at the Lee Kuan Yew School of Public Policy, Singapore, says Washington’s criticism towards the China-led Bank is “childish”.
“Some critics argue that the AIIB will reduce the environmental, social and procurement standards in a race to the bottom. This is a childish criticism, especially because China has invited other governments to help with funding and governance,” he says.
“Reports indicate that the US is pressuring Australia and South Korea not to join the AIIB. But as Hedley Bull, eminent late Oxford professor, once said, “people have friends but countries have only interests”, he adds.
Blessings
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Re: A new Global Economic Restructure in 2012
[Re: Elle]
#172414
03/13/15 03:02 PM
03/13/15 03:02 PM
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China-IMF talks underway to endorse yuan as global reserve currency March 12, 2015 China is pushing for the International Monetary Fund to endorse the Chinese yuan as a global reserve currency alongside the dollar and euro.
A senior Chinese central bank official said Thursday that the country is “actively communicating” with the IMF on the possibility of including the yuan, or RMB, in the basket of the Special Drawing Rights (SDRs).
Including the yuan in the SDR system would allow the IMF to recognize the ascent of the world’s second-biggest economy while aiding China’s attempts to diminish the dollar’s dominance in global trade and finance.
“We hope the IMF can fully take into account the progress of RMB internationalization, to include RMB into the basket underlining the SDR in foreseeable, near future,” said Yi Gang, vice governor of the People’s Bank of China.
However, China will be patient until conditions are ripe, Yi said at a press conference on the sidelines of the ongoing annual parliamentary session.
In late 2015, the IMF will conduct its next twice-a-decade review of the basket of currencies its members can count toward their official reserves.
SDRs are international foreign exchange reserve assets. Allocated to nations by the IMF, an SDR represents a claim to foreign currencies for which it may be exchanged in times of need.
Although denominated in US dollars, the nominal value of an SDR is derived from a basket of currencies, with, specifically, a fixed amount of Japanese yen, US dollars, British pounds and euros, without RMB.
China would need to satisfy the Washington-based lender’s economic benchmarks and get the support of most of the other 187 member countries.
To become a currency included in the SDR basket, the trade volume of goods and services behind that currency will be evaluated, the Chinese Central Bank official explained on Thursday, stressing that RMB has no problem in this regard. But he said views are divided on whether the RMB is a freely usable currency.
“No matter whether and when the RMB will be included in the SDR basket, China will push on with its financial sector reform and opening-up,” Yi said.
The yuan became the world’s No. 2 currency for trade finance globally in 2013, and overtook the Canadian and Australian dollars to enter the top five world payment currencies in 2014, according to global transaction services organization SWIFT.
China said the yuan has also been used as a reserve currency in some countries and regions.
Blessings
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Here is the link to this week's Sabbath School Lesson Study and Discussion Material: Click Here
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