Editor’s Note: This issue of Review & Outlook is based on a series of posts I made at the USAGOLD blog over the course of the past month. China has imported an unprecedented amount of gold bullion in 2013. So much so, that if it were to maintain the current pace, it would import nearly the equivalent of global production for the year. When the news first filtered out of China on the amounts of gold being mobilized through its Shanghai Gold Exchange, the numbers seemed too large to be believed. The obvious question became “What is the source of this extraordinary amount of gold bullion?” It was only in October when Reuters reported that much of that gold had been shipped from London-based exchange traded funds to Switzerland for refining into smaller Asia-friendly bars and then on to Hong Kong and Shanghai that the full picture came into focus and the extraordinary numbers gained credibility.
Below I detail how the China gold trade mechanism works, the reasons for it, and why China’s interest in gold is likely to remain of paramount importance to the global market for many years to come. I have updated the original statistics from recently posted reports at the Koos Jansen website based in the Netherlands — a research source specializing in the China gold trade. To stay abreast of the China situation as well as other developments in the gold market on a daily basis, I invite you to visit our blog page linked above.
Part One – The London-Zurich-Hong Kong-Shanghai gold conduit
According to a recent Reuters report, the United Kingdom’s gold exports to Switzerland jumped from 85 tonnes to 1,016 tonnes in the first eight months of 2013 — a twelve times increase. Some bullion market watchers attribute the huge increase to withdrawals or sales from exchange traded funds (ETFs) — an explanation that covers only half the story…….if that. When one learns where this gold ended up and why it went there, the true importance of this unusually large deployment begins to take shape.
The Basel Committee on Banking Supervision (hereinafter – the Committee) is closely associated with supranational organisations like the Bank for International Settlements in Basel (BIS), which is often called the «club», the «headquarters» of central banks or the «Central Bank of Last Resort». The Committee’s office is situated
The Basel Committee on Banking Supervision (hereinafter – the Committee) is closely associated with supranational organisations like the Bank for International Settlements in Basel (BIS), which is often called the «club», the «headquarters» of central banks or the «Central Bank of Last Resort». The Committee’s office is situated in the BIS building. At the end of 1974, following the disequilibrium of international currencies and banking markets caused by the collapse of the Herstatt Bank in West Germany, the heads of central banks in the G10 countries established the Committee under the auspices of the BIS to develop common international rules with regard to banking supervision. The Committee formulates common standards for banking supervision and recommendations for their implementation, on the assumption that national authorised bodies (first and foremost central banks) will push them forwards in their own countries. With regard to G10, this is the group of countries that signed a general agreement on borrowing with the IMF in 1962 (Belgium, Great Britain, West Germany, Italy, Canada, the Netherlands, France, Sweden, the USA and Japan). Switzerland, which was not a member of the IMF, joined in 1964, but the name of the group remained as before. Representatives from Luxembourg were also included in the Basel Committee from the very beginning and, from 2001, the Committee has included representatives from Spain. At present, the Committee includes representatives from central banks and national authorities on banking supervision from 27 countries (the 13 countries already mentioned along with Argentina, Australia, Brazil, China, Hong Kong, India, Indonesia, Korea, Mexico, Russia, Saudi Arabia, Singapore, South Africa and Turkey, which all joined the Committee in 2009). Over almost four decades of its activities, the Committee has published tens of documents on different areas of activity, including general issues on the organisation of supervision, capital adequacy, all kinds of risk, the corporate governance of lending and borrowing organisations and so on.
English: One Dollar with the owl of the Illuminati (Photo credit: Wikipedia)
Illuminati – the Illuminati is a secret orginazation of the most powerful and influential elite in the world. They go back for centuries and maintain the same bloodlines. They set up the council on foreign relations,the bilderberg group and the tri-laterial commission. Those 3 groups all meet to plan the fate of the world. They consists of international bankers,top government officials,leaders in the energy cartel and media monopoly owners and have control over the U.N. and Unesco. Their subdivisions reach into everyones daily life without most sheeple even being aware of it. They also have ties to the freemasons,skull and bones, and the knights templar.Their ultimate goal is for a one world government which they will control,also a one world currency, and they want control and ownership of all land, property, resources and people. Also they manipulate political parties,and the legal and illigal drug trade and federal agencies related to all matters listed above.
Taken from urbandictionary.com One needs to read about Zagami below this article~jude
By Henry Makow PhD 1-7-7
At the New Year, Leo Zagami, 36, has an urgent message.
The Illuminati plan to “Nazify” the West by the year 2012 and persecute all believers in God, using the pretext of war, terror and economic collapse.
The scion of an ancient Illuminati family, Zagami had a religious conversion (to Islam) last June and rebelled. He’d had enough of the horrifying Satanic, black magic rituals, mind control and torture that was going on inside the lodges, behind closed doors.
On Saturday he posted on his web site Illuminati Confessions~[Website Taken Down]~jude
http://www.illuminaticonfessions.webfriend.it/#news1 names of high ranking Masons who are ready to do battle with the Satanists. He has organized his own security detail and even posted a personal phone number to answer serious questioners about his sincerity.
“These are the end times; it’s no joke,” Zagami says in an January 3 interview on his website.
“The cosmic alignment on the 21st of December 2012 gives you 6 years to prepare… So its about time you all wake up and fight for your right to stay free under one God before they take complete control and start persecuting the true believers in the one God. Get your swords and get ready to fight to defend your faith or perish. This is a war against Satan so please wake up in the western countries or you might wake up in a nightmare one morning in December 2012.”
“From 2010 you will start feeling the big changes in the air more and more but in 2012 you will have the clear evidence of the end of this civilization in front of your eyes.the total NAZIFICATION of the western countries by 2010 before the economic situation starts to badly crack for everyone. Then social tension will hit a peak never seen before and internal conflicts could eventually become in 2012: CIVIL WAR!”
“Are you ready to die for God and your believe in a positive change for the world or are you all a bunch of cowards in the hands of the devil, just talking and talking with no sense of reality?”
As an ex-member of the Comitato Esecutivo Massonico – Masonic Executive Committee (MEC) of Monte Carlo, Zagami was, until recently, a true insider, a 33rd degree Freemason, and a high-member of the infamous Freemasonic P2 (Propaganda 2) Lodge. He was the “prince”, prepared to take over from the older Illuminati “king”, Licio Gelli.
http://usawatchdog.com/ - Chris Duane was a 30 year old millionaire working at his family’s East coast car dealerships when he walked away from it all to become a citizen journalist. He sold his house in 2005 and started renting just before the real estate crash. He began warning anyone who would listen about the collapse and paradigm change coming to America. His YouTube channel - http://www.youtube.com/user/TruthNeverTold has gotten 3.5 million views-in less than a year! He says, “The collapse is going to unwind all social and financial contracts worldwide.” He tells people to, “Get out of every single paper asset you own because it’s all going to be worth nothing. . . . If you’re not ahead of the curve, you’re going to be historical road kill.” He also thinks sometime in the next three years, “the dollar will be completely worthless.” When that happens, Duane predicts, “mass hysteria, power grabs and food riots.” His number one investment is physical silver because it is in short supply and extremely undervalued. Greg Hunter of USAWatchdog.com goes One-on-One with Chris Duane.
Europe considers “pursuing dispute settlement” against producers
Strategic resources are carefully protected by countries owning them. Bolivia still has 50,000 metric tons of pure silver in Cerro Rico, Potosi. This is the same amount extracted by the Spaniards during colonial times in that place. Bolivia’s strategy is to keep this vast richness for the uncertain future, when fiat money might collapse. A similar strategy was adopted by the USA with respect to its oil. The USA has the 13th largest oil reserves in the world; yet it is the world’s largest oil importer, purchasing more oil than the entire European Union, which rates only 23rd in reserves. This assures that the USA will improve its competitiveness in this market. Yet, in odd cases, ownership of strategic resources may become a liability. Apparently this is the case with rare earth minerals in China; this country exhibits an odd behavior towards one of its most unique resources. A new study by the European Commission hints that China’s peculiar reaction may be an early response to yet another Western attempt to colonize and control strategic resources. Unsurprisingly, even Israel is involved.
Rare earth elements are not especially scarce on Earth; the problem is that they are dispersed and thus difficult to extract. Rich deposits are rare, thus their name. These seventeen elements were used until recently only in esoteric applications; if you didn’t need special types of superconductors, lasers, or nuclear devices you were unlikely to even hear their names. Yet, in recent years they have become increasingly used, especially in thin, bright-color screens and computer memories. Since 1984, China is the world’s largest supplier of rare earth elements; it is the only supplier of the heavier ones, including dysprosium. The 2010 Critical Materials Strategy Report by the U.S. Department of Energy identified this element as most critical in terms of import reliance. The vast majority of Chinese production originates in Bayan Obo, Inner Mongolia. One last datum; China doesn’t own the largest reserves of rare earth minerals. Is it committing commercial suicide?
Bayan Obo, Inner Mongolia | in 2012, the largest source of rare earth minerals
China vs. the World
Roughly until 1950, Brazil and India led the world supply of rare earth elements. South Africa took over then, only to be replaced by the USA in the mid-sixties. Since the 1980’s the USA production is in decline despite this country having discovered new deposits of this rare goods. Despite having been initially discovered in Sweden, Europe doesn’t produce any significant quantities. Japan owns large quantities in the form of old electronic products; nowadays it is recycling them at a very slow pace, so that it develops the technologies without flooding the market.
What might be the final major U.S. offensive of the Afghanistan war has begun, according to the war’s day-to-day commander. Its purpose is a bit harder to grasp.
Lt. Gen. Curtis Scaparrotti, the outgoing operational commander in Afghanistan, said that US and Afghan troops recently began a push in the eastern province of Ghazni to reduce the potency of the insurgency in an area neglected by the 2010 troop surge.
“In some areas there in the east, south of Kabul, we needed to insert greater combat power, and we’ve needed to do that for quite some time,” Scaparotti told Pentagon reporters via videoconference, contradicting remarks made by the general in charge of east Afghanistan last year. Led by an additional brigade from the 82nd Airborne, the offensive will last through “the current fighting season,” he said — even as about 20,000 US forces withdraw by October, weeks before the fighting season ends.
Scaparrotti declined to provide details on how many forces make up what he described as “greater combat power”; where it goes beyond or outside of Ghazni; and said he preferred not discuss even the “intent” of the operations publicly. He also said not to think of it as the “last” major US offensive of the Afghanistan war. But it follows a recent pattern as NATO nears its 2014 deadline for turning Afghan security to its Afghan proteges: US and Afghan troops will clear areas in the east that the Afghans will be tasked with holding.
All Scaparrotti offered was that US forces were ”now undertaking operations to secure areas in Ghazni and areas surrounding Ghazni that we’ve needed to do for some time, and we’re also working very hard with our Afghan partners to then gain in strength and to hold those areas once these operations are done.”
The military has hardly made a secret of its desire for one last major push into eastern Afghanistan. The Obama administration has hardly made a secret of its desire not to replicate the grueling troop surge, which focused on the south, in eastern Afghanistan. Last week, Gen. Martin Dempsey, the chairman of the Joint Chiefs of Staff, told reporters that another push into the east would be critical to eroding the power of the Haqqani Network, one of the most lethal components of the Afghan insurgency.
“We’ve got to get [eastern Afghanistan] and the Haqqani influence reduced in order to meet our timelines for the transition that we’re moving toward and — at the end of ’14,” Dempsey said.
Scaparrotti, whose tour in Afghanistan ends Tuesday, diminished expectations for the offensive. He spoke about “future complementary operations” with the Pakistanis as little more than a hypothetical, rather than a partnered effort to squeeze the Haqqani network on both sides of the border. And Scaparrotti said he was optimistic that NATO would meet the 2014 timetable seemingly regardless of what happens in eastern Afghanistan.
The Haqqani Network is considered responsible for the recent wave of attacks on Kabul, although Scaparrotti said the offensive is focused “on the insurgency in a broad way,” not just on the Haqqanis. But still, Scaparrotti said that Ghazni is the current heart of the effort, even though that’s not a province the Haqqani Network evidently values.
According to the general, the Haqqanis want to defend three other provinces — what is “traditionally their area of operation: Khost, Paktia, and Paktika.”
So what could well be the final major US campaign in Afghanistan doesn’t initially target the terrain that its adversary most wants. It won’t have the same access to air power that the effort to take Helmand and Kandahar enjoyed. It won’t have complementary effort on the border by the Pakistanis to deny insurgent safe havens. And whatever happens won’t change the timetable for handing over Afghanistan to the Afghans. No wonder the military isn’t exactly playing up the fight for eastern Afghanistan.
Danger Room senior reporter Spencer Ackerman recently won the 2012 National Magazine Award for Reporting in Digital Media.
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Tags: Agony of A-Stan, Curtis Scaparrotti, Perils of Pakistan, Strategery
Newsletter writer “Reinhardt” joins me for his first public appearance anywhere. Concerned with the Enron debacle, Reinhardt discovered a repeated pattern of industrial and political corruption over history that applies to critical issues of today.
Starting in 1993, Reinhardt began a person business journal. Its was a journal of things that just did not seem right in the world of high finance. In the process of keeping a journal he learned what to pay attention to and why to pay attention to it. He looked at media, political, and business propaganda from a different perspective. He noticed which events got the most airtime were never the most important. It was always the under-reported events which were most important.” Reinhard thew away his history books as he studied booms and busts going as far back as 4000 BC. Reinhardt has applied that knowledge and critical thinking approach to his ongoing analysis of current events.
Updated 4/22/2012 7 Seals (1040 Days) 7 Trumpets (1260 Days “Great Tribulation”) 7 Vials (1 Day).The IRS is a branch of the IMF; America’s Tax Form 1040 will be audited; the debt deemed unpayable and America will become a Debtor’s Prison. Reference Executive Orders 10995-11005, NDAA-2012, Enemy Expatiration Act, MAP-21 and Agenda-21. Note: Congress #112 is reflected in the Prophecy (Plan) of St Malachy; the Roman Catholic Church ends with Pope #112. Pope Benedict XVI is #111; notice Benedict XVI means Blessing 16; Rev 16 describes God’s Wrath; events which must be duplicated by Assyrian/Gnostics before Antichrist is revealed. It’s not prophecy, just a sick Luciferian plan put in writing. 1260 days of Great Tribulation begins at Rev 8; it is divided into 770 days + 490 Days (70 Weeks). Note: Satan will be cast to Earth 200 days ahead of the Order to rebuild Jerusalem; take note of the 4 consecutive Lunar eclipses on Passover and Tabernacles in 2014-2015 and the Solar Eclipses on 1 Nisan “New Year” and 1 Tishrei “Rosh Hashanah” (Rabbinical “New Year”) those would be the “troublous times” in Dan 9:25.
By Charles Hutzler,Matthew Lee, The Associated Press
BEIJING — The U.S. and China forged the outlines of a deal Friday to end a diplomatic standoff over legal activist Chen Guangcheng that would let him travel to the U.S. with his family for a university fellowship.After days of behind-the-scenes talks, reversals and emotional calls by Chen from a guarded hospital room, the U.S. and China made a series of announcements signaling a logjam had been broken.
The Chinese Foreign Ministry said Chen can apply for travel permits to study abroad. An American university has offered Chen a fellowship with provisions for his family, State Department spokeswoman Victoria Nuland said, adding that the U.S. expects Beijing to quickly process their travel permits, after which U.S. visas would be granted.
“Over the course of the day, progress has been made to help him have the future that he wants, and we will be staying in touch with him as this process moves forward,” U.S. Secretary of State Hillary Rodham Clinton said, speaking to reporters after two days of annual strategic talks in Beijing.