Emerging World buys $10 billion in gold as West wobbles

August 3, 2011

By Amanda Cooper
Reuters
August 3, 2011

Central banks of emerging market countries such as Korea and Thailand have added more than $10 billion (6 billion pounds) of gold to their reserves this year in a sign of waning faith in the West’s benchmark bonds and currencies like the dollar and the euro.

International Monetary Fund data for June Wednesday showed Thailand bought gold for the second time this year, raising its reserves by nearly 19 tonnes to over 127 tonnes, while Russia bought another 5.85 tonnes, bringing its reserves to 836.7 tonnes, the world’s eighth largest official stash of the metal.

So far in 2011, emerging market central banks have bought nearly 180 tonnes of gold, more than double the roughly 73 tonnes purchased by central banks globally in the whole of 2010.

The spot price of gold has risen by more than 17 percent this year to a record $1,672.65 an ounce, driven chiefly by investor concerns over the impact on the developed world’s economy of its debt burdens and sluggish growth.

Mexico has been the largest buyer of gold in the year to date, with $5.3 billion worth of purchases, or 98 tonnes of gold, followed by Russia, which has bought 48 tonnes, worth $2.6 billion at current prices.

Earlier this week, Korea confirmed it had bought 25 tonnes of gold in June and July.

“Central banks evidently do not regard the price level as too high and are diversifying their currency reserves. This was the first purchase of gold for the Korean central bank in over ten years,” said Commerzbank metals analyst Daniel Briesemann.

“Gold’s high-altitude flight still appears to be supported by many factors and an end to the boom soon is not in sight.”

In the euro zone, smaller economies such as Greece, Portugal and Ireland have already sought emergency funding, while concern is mounting over the finances of some of the region’s larger members such as Spain and Italy, driving the euro to record lows against the safe-haven Swiss franc.

The United States averted an unprecedented debt default on Tuesday after lawmakers reached an eleventh-hour deal to raise the country’s borrowing limit, although severe doubts remain about the economic outlook, stripping 6 percent off the value of the dollar this year.

DEBT MISERY

The U.S. economy is also likely to lose its top-notch credit rating as ratings agencies are increasingly discomfited by the weight of the twin trade and budget deficits and the country’s patchy growth.

A downgrade will almost certainly push up yields on U.S. Treasury notes as their value falls, which could prove unwelcome to the major investors in U.S. debt such as the Chinese government, which holds nearly $900 billion in Treasuries.

The trend among central banks, particularly those with large foreign exchange holdings, to diversify some of their portfolios into gold from currencies has been well established over the last couple of years.

“The market generally expects central banks with growing reserves and small gold holdings to buy gold,” said Jesper Dannesboe, senior commodity strategist at Societe Generale.”

“So I don’t think that is particular surprising, but it does support the bullish story (for gold),” he said.

Central banks are expected to remain net buyers of gold this year and the most likely buyers will be those with the biggest reserves and relatively small bullion holdings, such as China.

The Chinese central bank is the sixth largest official owner of gold, yet its holdings account for just 1.6 percent of its $2.5 trillion total reserves.

The IMF data showed Russia, Kazakhstan, Greece, Ukraine and Tajikistan also added to their reserves two months ago and feature among some of the bigger bullion buyers this year.

Kazakhstan’s reserves rose for the third time this year, by 3.11 tonnes in June to 70.434 tonnes, Taijikistan’s reserves rose 0.04 tonnes to 3.036 tonnes and Greece and Ukraine added 0.03 tonnes each, bringing their official holdings of gold to 111.506 tonnes and 27.744 tonnes, respectively.

Russia has added to its gold reserves every month for the past five years, according to the IMF’s data.

Filed under World Tagged with , , , , , , , , , ,

World food prices hit record high: UN agency

February 3, 2011 1 Comment

AFP
February 3, 2011

World food prices reached their highest level ever recorded in January and are set to keep rising for months, the UN food agency said on Thursday, warning that the hardest-hit countries could face turmoil.

Rising food prices have been cited among the driving forces behind recent popular revolts in north Africa, including the uprising in Egypt and the toppling of Tunisia’s long-time president Zine El Abidine Ben Ali.

And in its latest survey, the Food and Agriculture Organisation said its index which monitors monthly price changes for a variety of staples averaged 231 points in January — the highest level since records began in 1990.

“The new figures clearly show that the upward pressure on world food prices is not abating. These high prices are likely to persist in the months to come,” FAO economist and grains expert Abdolreza Abbassian said in a statement.

The Index rose by 3.4 percent from December — with big increases in particular for dairy, cereal and oil prices. The rises were most significant in China, India, Indonesia and Russia, data from FAO’s monthly report showed.

“There are a lot of factors that could spark turmoil in countries and food is one of them,” Abbassian said, pointing out however that several countries have become better at managing prices after a series of riots in 2007 and 2008.

“They have learnt from previous episodes,” he said, adding however: “These are obviously not very easy times. There is now no hope that prices will return to anything we can consider normal, at least until the summer.”

The data from the Rome-based FAO showed that prices for dairy products rose by 6.2 percent from December, oils and fats gained 5.6 percent, while cereals went up by 3.0 percent because of lower global supply of wheat and maize.

“The increase in prices follows stronger export demand during the last month and concerns about tightening supplies of high quality wheat. The market was also supported by higher oil prices and a weaker US dollar,” FAO said.

Meat prices remained broadly stable due to a fall in prices in Europe caused by last month’s scare over dioxin poisoning in eggs and pork in Germany, compensated by a slight increase in export prices from Brazil and the US.

“High food prices are of major concern especially for low-income food deficit countries that may face problems in financing food imports and for poor households which spend a large share of their income on food,” Abbassian said.

Global aid agency Oxfam said: “Millions of people’s lives are at risk.”

“Poor people in developing countries spend between 50 and 80 percent of their income on food, making higher prices, as well as unpredictable prices, a serious threat to their ability to eat,” Oxfam said in a statement.

Oxfam blamed the price rises on reduced production due to bad weather, increased oil prices making fertilizer and transport more expensive, increased demand for biofuels, export restrictions and financial speculation.

It called on governments to implement social protection programmes for the people hardest hit by the price rises and to help control prices “by increasing support and investments in small scale agriculture.”

The FAO data showed the Food Price Index hit 200 points over the whole of 2008 at the height of the 2007/2008 food crisis. It breached that level for the first time in October 2010 with 205 points.

In Africa, Somalia has been particularly hard hit by a rise in prices for red sorghum and maize due to a poor 2010 crop, while Uganda has seen a rise in the price of maize because of strong demand from neighbouring countries.

Meanwhile ongoing unrest in Ivory Coast had helped push up prices in West Africa as a whole because of its status as a key transport hub, it said.

But the most dramatic rises were seen in Asia and in particular in Bangladesh, China, India, Indonesia and China, it added.

Filed under World Tagged with , , , , , , , , , , , , ,

Carbon Tax Scam Shifts from Climate to Poverty

September 21, 2010

Paul Joseph Watson

As the science behind global warming becomes increasingly discredited and its proponents are exposed as eugenics-obsessed control freaks who care only about destroying freedom, the effort to make Americans pay a global tax has shifted from the justification of climate change to that of poverty.

As we documented on Sunday, leaders from 60 nations will be meeting at the UN this week to push a tax on world financial transactions, formally launching a massive program to bankrupt the middle class and enrich the coffers of global government.

Separately, the leaders of Spain and France are also now calling for new “financing sources” with which to build the infrastructure of a one world government. Remember, this has nothing to do with poverty. As the leaked Danish text revealed, global institutions such as the IMF and the World Bank have no intention of handing the money looted from American taxpayers to poorer countries, they will merely continue to keep the third world in bondage with crippling loans while withholding the real wealth for themselves.

“We need to make more effort to look for alternative financing sources … that aren’t as vulnerable as the budgets of developed countries when faced with crises like the one we’re seeing today,” said Spanish Prime Minister Jose Luis Rodriguez Zapatero.

“Both he and French President Nicolas Sarkozy called for some form of financial tax to raise money to combat poverty, an idea already rejected by the International Monetary Fund and many Group of 20 major developed and developing nations,” reports Reuters.

Although climate change still gets a token mention in the call for a global tax, the justification of poverty has firmly overtaken it as the primary ruse via which globalists plan to conduct a massive transfer of wealth – not to poor nations – but to their own back pockets.

As the science behind global warming becomes increasingly discredited and its proponents are exposed as eugenics-obsessed control freaks who care only about destroying freedom, the effort to make Americans pay a global tax has shifted from the justification of climate change to that of poverty.

As we documented on Sunday, leaders from 60 nations will be meeting at the UN this week to push a tax on world financial transactions, formally launching a massive program to bankrupt the middle class and enrich the coffers of global government.

Separately, the leaders of Spain and France are also now calling for new “financing sources” with which to build the infrastructure of a one world government. Remember, this has nothing to do with poverty. As the leaked Danish text revealed, global institutions such as the IMF and the World Bank have no intention of handing the money looted from American taxpayers to poorer countries, they will merely continue to keep the third world in bondage with crippling loans while withholding the real wealth for themselves.

“We need to make more effort to look for alternative financing sources … that aren’t as vulnerable as the budgets of developed countries when faced with crises like the one we’re seeing today,” said Spanish Prime Minister Jose Luis Rodriguez Zapatero.

“Both he and French President Nicolas Sarkozy called for some form of financial tax to raise money to combat poverty, an idea already rejected by the International Monetary Fund and many Group of 20 major developed and developing nations,” reports Reuters.

Although climate change still gets a token mention in the call for a global tax, the justification of poverty has firmly overtaken it as the primary ruse via which globalists plan to conduct a massive transfer of wealth – not to poor nations – but to their own back pockets.

As the recently leaked UN blueprint revealed, the elite are determined to use a global tax as just one of the weapons in their arsenal to dismantle the middle class of richer nations.

In their own words, the globalists talk of their aim to “limit and redirect the aspirations for a better life of rising middle classes around the world,” in other words to reduce the standard of living for the middle classes in Western Europe and America.

As the opening session paper puts it: “The real challenge comes from the exponential growth of the global consumerist society driven by ever higher aspirations of the upper and middle layers in rich countries as well as the expanding demand of emerging middle-class in developing countries. Our true ambition should be therefore creating incentives for the profound transformation of attitudes and consumption styles.”

This is globalist talk for dismantling the middle classes by looting them with global taxes and consumption levies in the name of alleviating poverty in poorer areas of the world and stopping climate change. However, as we have already explained, this is merely a ruse. The money will not be “redistributed” to the poor, it will be swallowed up by the same globalist institutions running the scam.

To achieve their goal, the UN will have to oversee “nothing less than a fundamental transformation of the global economy,” states the report. In other words, economic growth will wither and be replaced by a “green economy” and a “post-industrial revolution.”

Since Spain’s “fundamental transformation” of its economy over to a “green economy” has devastated the country, with unemployment hitting a crippling 20 per cent, it’s unsurprising that Zapatero is now calling for a new global levy on financial transactions in an effort to force already destitute Americans to pick up the tab for the failed and economically crippling “green” measures that he inflicted on his own country while doing the bidding of his globalist masters.

Paul Joseph Watson is the editor and writer for Prison Planet.com. He is the author of Order Out Of Chaos. Watson is also a fill-in host for The Alex Jones Show. Watson has been interviewed by many publications and radio shows, including Vanity Fair and Coast to Coast AM, America’s most listened to late night talk show.

Filed under World Tagged with , , , , , , , , , , , , , , , , , , , , , , , , ,

G20: Banks must hold on to Cash for coming Crisis

June 29, 2010 2 Comments

The International Crime Syndicate, better known as the G20, determined at its last meeting that the collapse and consolidation of the global economy will begin around 2012 and finish in 2016 with the liquidation of all countries who are in debt with the IMF and the World Bank.

By Luis Miranda
The Real Agenda
June 29, 2010

Bankers and G20 members have direct and indirect ways to speak to the public. At the end of the latest G20 meeting in Toronto, both

From right to left: Canadian Prime Minister Stephen Harper, UK Prime Minister David Cameron and U.S. President Barack Hussein Obama.

groups spoke very clearly about what they have in mind for the foreseeable future. First, they are all in the run to help the process of global consolidation. Second, they will extend the current depression by slowly cutting the available cash for lending. Third, they will continue their austerity programs in a country by country basis to slowly kill their economies and consolidate each nation. Fourth, now that they have robbed the people’s taxes through their rescue packages, they plan to rob shareholders by putting the burden of future rescues on them when the next crisis comes. Fifth, they are disingenuous or irresponsible by thinking that putting aside 130 billion pounds will create any security for the economy, given that only the derivative schemed debt ascends into the quadrillion of dollars. And lastly, they intend to seed and water the final implosion, which according to their communique, can come as soon as 2012.

If all these sounds confusing, please let me explain.

Let’s start by remembering that the G20, and mainly the G8 were the ones who caused the current financial crisis. They did it through their front companies e.g. banks, which implemented a series of corrupt schemes to bankrupt economies and whole countries through investment and betting into risky and sometimes nonexistent financial products e.g. derivatives. These schemes were allowed to exist given the fact that for the past two decades most of the regulations put in place to stop financial fraud were eliminated as an excuse to enable “free markets”. What deregulation effectively permitted was the creation of bogus investing plans which the banks later offered to countries, states and municipalities -often times through governments- and used them to acquire all their infrastructure and cash through the issuance of debt or fraudulent investment.

It has become clear that the G8 and the bankers are not interested in improving current economic conditions. They simply want to extend the crisis as long as they need to, in order to execute their final plan of global implosion. That is what emerges from the idea of cutting lending money and asking banks to hoard the cash for the next crisis, as the G20 communique says. Although 130 billion pounds is peanuts in comparison with the debt most G8 countries hold today, the action of keeping the cash in reserve paints a clear picture of what the ‘leaders’ have in mind. What they want is a slowly and painfully grind down the economies in order to cause the greatest damage. Such policy will assure them the consolidation of more resources before the final blow to the global economy is given.

One of the most important tools the bankers have used along the last 100 years is to create an artificial bubble of money abundance -Fiat money- in order to get the countries and the public to trust them. This is what many describe as economic booms. But given the fact that the global economy is based on debt and fractional reserve banking, the only goal the money bubbles had was to hook up the greatest amount of debt on consumers to then pull the cash off the markets. By doing this, the bankers accelerate their consolidation process. Along with the reduction in lending, G8 nations agreed to continue the austerity plans in each individual country. Austerity will be implanted on the working class by cutting services such as police, hospitals, school funding, and social programs. This will in turn cause civil unrest, which is what the bankers want in order to officially freely unleash their military and technological control grid. A preview of what this grid would look like was seen on the streets of Toronto during the last G20 meeting. It was also seen during Argentina’s collapse in 2001.

The infamous rescue packages glorified by the IMF and the World Bank as the best way to avoid a complete collapse of the global economy -which as explained before was caused by the bankers themselves- were the biggest transfer of money and resources in the history of the world. Only the United States gave the bankers around $25 trillion in tax payer money so Goldman Sachs, Iberia Bank, JP Morgan Chase, Bank of America and others could pay their shareholders their chunk of the loot. See a complete list of what banks got the cash here. But those $25 trillion were not enough, of course. Germany for example, voted to give 66% of its annual revenue to the banks. Going by the G20′s communique it is clear they are planning another big collapse, possibly the last one. It is also clear they will have to rob someone else this time and that is what the bankers and the ‘leaders’ have said. They will stick the next rescue package to the banks’ shareholders -not to the big ones, though-. So if you have investments in any bank, it is advised to rescue yourself out of it before the new banking package comes along. Shamelessly, they will obligate the banks to hold billions so when the next crisis comes, taxpayers will not be burdened as if we don’t know those billions are the same they stole last 2009. Now that they consolidated and stabilized their fraudulent financial system, it won’t matter if other banks fail, because they are all covered.

The idea that 130 billion pounds is a safety net for a future crisis, or double dip recession as they like to call it, is preposterous. Derivative-produced debt is, depending who you ask, between $600 trillion and $1 quadrillion. According to Robert Chapman, from the theinternationalforecaster.com, buying derivatives is not investing.  It is gambling, insurance and high stakes bookmaking.  Derivatives create nothing.” According to the Bank of International Settlements, the derivative bubble has grown exponentially to a point where the amounts negotiated under this scheme has long surpassed the world’s GDP. “Derivative trades have grown exponentially, until now they are larger than the entire global economy.”Credit default swaps (CDS) is the most common form of derivatives. CDS are bets between two parties on whether or not a company will default on its bonds. They are indeed illegal insurance policies, with no requirement to hold any asset. CDS are used to increase profits by gambling on market changes.

The WEB of DEBT in which the current economy was built throughout the past 100 years was the tool used in a process to reverse everything humans achieved. It was not unintended however, as this was the mechanism the globalist bankers planned on using from the beginning. Every time the world experienced a financial crisis like in 1929-1933, the grip of control tightened more and more. The measures to avoid a total collapse, as we were told, were not such. They were simply ways to postpone the imminent collapse.  But the measures the bankers implemented cannot be used forever. Sooner rather than later something will give in. The step by step, ad hoc and non-holistic approach of Fed and Treasury to crisis management has been a failure. . . . [P]lugging and filling one hole at [a] time is useless when the entire system of levies is collapsing in the perfect financial storm of the century. A much more radical, holistic and systemic approach to crisis management is now necessary,” says professor Nouriel Roubini. founder of Roubini Global Economics.

After turning the global economy into a service-based system, where no quality products are manufactured; after driving developing countries into massive debt while collapsing the economies of the western world, the bankers are ready for their last move: a one last crisis. According to the G20 communique, its members must cut their deficits by 2013, a process that already started. This process is supposed to end in 2016, when the nations should have stabilized their deficits. Cutting and then stabilizing deficits means that debtor countries will have to find a way to pay their debts in full to the IMF and World Bank according to the conditions imposed by those entities. Every country that does not pay in full will be liquidated and their resources will be automatically transferred to the globalist bankers. Imagine what happened to Argentina, Greece and Iceland in the last decade, but instead of being those countries, the debtors will be the United States, Spain, Portugal, England and Germany.

Filed under World Tagged with , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Prince Charles calls for Eugenics in poor countries

June 17, 2010 1 Comment

London Telegraph

The Prince of Wales has called for greater population control in the developing world and hailed the success of “family planning services” in some countries.

He said more needs to be done because of the “monumental” problems that face the environment as population numbers “rocket”

Prince Charles of Wales is, along with Bill Gates, one of the strongest pushers for eugenics in the developing world.

and traditional societies become more consumerist. There needed to be more “honesty” about the fact the “cultural” pressures keep the global birth rate high.

The Prince also said the traditional religious views of the sanctity of life, which are often used to oppose the use of condoms and other contraceptives, must be balanced with the imperative to live within the limits of nature.

His comments, made in an important speech on Islam and the environment, will be seen as controversial within both the green lobby and some religious circles.

Although the heir to the throne is a long-standing champion of ecological causes and the benefits of faith, some believe that Western commentators do not have the right to tell residents of less wealthy nations that they should have fewer children or consume less in order to keep carbon emissions down. Many of the world’s great religions, meanwhile, oppose the widespread use of contraception.

Speaking at the Sheldonian Theatre, in a lecture to mark the 25th anniversary of the Oxford Centre for Islamic Studies of which he is patron, the Prince told how the population of Lagos in Nigeria has risen from 300,000 to 20 million during his lifetime.

He went on: “I could have chosen Mumbai, Cairo or Mexico City; wherever you look, the world’s population is increasing fast. It goes up by the equivalent of the entire population of the United Kingdom every year. Which means that this poor planet of ours, which already struggles to sustain 6.8 billion people, will somehow have to support over 9 billion people within 50 years.”

He acknowledged that long-term predictions are for a fall in global population but insisted: “In the next 50 years, we face monumental problems as the figures rocket.”

The Prince said the Earth could not “sustain us all”, particularly if a “vast proportion” is consuming natural resources at “Western levels”.

“It would certainly help if the acceleration slowed down, but it would also help if the world reduced its desire to consume.”

Talking about the “micro-credit” schemes developed in Bangladesh, he said: “Interestingly, where the loans are managed by the women of the community, the birth rate has gone down. The impact of these sorts of schemes, of education and the provision of family planning services, has been widespread.

“I fear there is little chance these sorts of schemes can help the plight of many millions of people unless we all face up to the fact more honestly than we do that one of the biggest causes of high birth rates remains cultural.”

He admitted it raised “very difficult moral questions” but suggested we should come to a view that balances “the traditional attitude to the sacred nature of life” with religious teachings that urge humans to “keep within the limits of Nature’s benevolence and bounty”.

Roman Catholics believe it is against “natural law” to use artificial methods to prevent conception while some conservative Muslim scholars teach that birth control is wrong. Condoms are opposed by Orthodox Judaism and some contraceptive techniques are unacceptable to Buddhists.

However the Prince also expressed his view that religion is needed to solve the world’s environmental and financial crises, which he claimed reflect the fact that “the soul has been elbowed out” in the quest for economic profit.

He said the Islamic world has one of the “greatest treasuries of accumulated wisdom and spiritual knowledge”, but lamented the fact that it is now often “obscured by the dominant drive towards Western materialism – the feeling that to be truly ‘modern’ you have to ape the West”.

The Prince said it was a “tragedy” that traditional Islamic crafts are being abandoned, and called upon Muslims to use their heritage to protect the environment.

He concluded that the world is “on the wrong road” and should not be “pigheaded” about refusing to acknowledge that fact, but should instead “retrace our steps” and return to working within nature rather than against it.

It is the first time the Prince has spoken at length about birth control since 1992, when he appeared to include the Vatican among “certain delegations” who are “determined to prevent discussion of population growth”. He spoke about birth control to politicians and community project workers in Bangladesh five years later.

Filed under World Tagged with , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

← Older posts

Related Links:

Togel178

Pedetogel

Sabatoto

Togel279

Togel158

Colok178

Novaslot88

Lain-Lain

Partner Links