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Found 17 results

  1. China’s Communist party chiefs propose constitutional change to allow president to stay on Tom Phillips in Beijing Sun 25 Feb 2018 11.23 GMT Xi Jinping is considered China’s most dominant leader since Mao Zedong Photograph: Chris Ratcliffe / POOL/EPA https://www.theguardian.com/world/2018/feb/25/xi-jinping-to-cement-his-power-with-plan-scrap-two-term-limit-china
  2. The Trump-like real estate mogul promises to disrupt the showpiece party congress in Beijing with new revelations about the country’s ‘mafioso elite’ Tom Phillips in Beijing Monday 16 October 2017 03.30 BST Guo Wengui tweeted this picture of himself with former senior Trump aide Steve Bannon. Photograph: Twitter https://www.theguardian.com/world/2017/oct/16/guo-wengui-the-maverick-chinese-billionaire-who-threatens-to-crash-xis-party
  3. Twin-engine passenger plane has been designed to compete with the Airbus 320 and Boeing 737 Tom Phillips in Beijing Friday 5 May 2017 07.07 BST 2 vids in link https://www.theguardian.com/world/2017/may/05/chinas-first-home-made-plane-makes-maiden-flight
  4. Zheng Jiajia had grown tired of pressure to get married so he turned to Yingying, a robot spouse he constructed last year Benjamin Haas in Hong Kong Tuesday 4 April 2017 10.58 BST Zheng Jiajia, 31, decided to ‘marry’ Yingying after failing to find a suitable human alternative. Photograph: Qiangjing Evening News https://www.theguardian.com/world/2017/apr/04/chinese-man-marries-robot-built-himself
  5. Facial recognition software installed in Beijing convenience to crack down on people taking large amounts of toilet paper Benjamin Haas in Hong Kong Monday 20 March 2017 04.15 GMT Those in need of paper must stand in front of a high-definition camera for three seconds Photograph: Peter Dazeley/Getty Images https://www.theguardian.com/world/2017/mar/20/face-scanners-public-toilet-tackle-loo-roll-theft-china-beijing
  6. Ban may reflect Beijing’s nervousness about the state of US-China relations in the Trump era Tom Phillips in Beijing Wednesday 22 February 2017 08.47 GMT Li Maizi, a Chinese feminist, protests against Sina Weibo suspending a popular account after it criticised Donald Trump. Photograph: Li Maizi https://www.theguardian.com/world/2017/feb/22/chinese-internet-giant-weibo-gags-donald-trumps-feminist-critics
  7. Editorial says two countries should strive to avoid conflict in first statement since Donald Trump’s election win Tom Phillips in Beijing Monday 6 February 2017 10.10 GMT Donald Trump signing an executive order. The US president has yet to speak to his Chinese counterpart. Photograph: Evan Vucci/AP https://www.theguardian.com/world/2017/feb/06/us-china-war-would-be-a-disaster-for-the-world-says-communist-party
  8. I would really appreciate some feed back from the members here on this article -- Your breakdown in layman's terms of what is stated and then your educated opinion - What does it all mean exactly and what "could" happen -- I know it is a lot to read - but how else are you going to ever know anything if you don't read??? Thanks in advance for those that are willing to read and comment -- UNEEK THE RESET HAS ALREADY BEGUN! Author : Bill Holter Published: January 19th, 2015 For several years there has been talk of a financial and economic “re set” coming, this is no longer speculation as the reset has already begun! The Swiss have suppressed the price of their currency, the franc, since late 2011. They pegged the franc versus the euro with a “floor” versus the euro at 1.20. After confirming this floor publicly on Monday, they abandoned it Thursday only to see the euro depreciate through the par level. What you saw on Thursday and Friday was the work of Mother Nature as the Swiss decided they would be better served by no longer battling her. The ramifications of this move by the Swiss are almost infinite when you consider the chain reactions they have now started. Several large FOREX firms including the largest retail firm in the U.S., FXCM, were rendered bankrupt overnight. Even Goldman Sachs and Citi admitted to being offside and sustained large losses. As of right now, we have no idea who “won” and who “lost”, nor do we know “how much?” We heard almost nothing from Swiss or European banks on Friday, “who what and how much?” will begin to surface this coming week. As I have written for years now, if the loser goes bankrupt, the winner does not get paid…thus turning the winner into a loser. This is a very big problem the markets ignored on Friday but will not be able to ignore as the dead bodies begin to surface. Think about this point very seriously, many investors (and firms) went to bed Wednesday evening with no stress at all on their portfolios (or their business), in just five minutes Thursday morning they were insolvent. Just FIVE MINUTES! We are only talking about “investments” here, how many other real businesses in the import and export area are now broke? Broke because they hold euros but need francs or they export from Switzerland or import to Europe and now their business model makes no sense? How is this even possible in just five minutes time? Another aspect to what and how the Swiss moved on Thursday is that of “central banks” themselves. Did the Swiss not know they were going to float the franc on Monday when they confirmed the peg publicly? Did they or did they not inform the IMF prior their actions? What about the BIS which is headquartered within their borders in Basel, surely they tipped them off? Christine LaGarde claimed in an interview with CNBC that she had no prior notice, really? If this is true then it shows the Swiss central bank has moved in an “every man for himself” type of action. It also shows the “united front” of central banks is not so “united” anymore! If Ms. LaGarde is not telling the truth and in fact the IMF did have prior knowledge, what would this mean? It would mean the central banks are finally losing control of the rig. It would also mean the central banks have distorted currencies, interest rates etc. so badly that once Mother Nature takes over, we can expect repeat performances all over the world and amongst all assets and currencies. How can I say this? I would simply ask if it is “normal” for two trading currencies to revalue 30% in five minutes or if it is not normal, what was the cause? We of course know, the cause was the actions of the ECB and SNB over these last three+ years. We have already speculated the Swiss made this move for one of two reasons. First, they may have decided the amount of euros necessary to purchase (and thus the amount of francs created) will go exponential this coming week when the ECB goes full on QE (printing). We also know that euros already make up more than half of their balance sheet. The other possibility is they know the Greek election is coming up, (the Greek banks are already experiencing bank runs) and they see the very real possibility of the Eurozone fracturing or even dissolving. Another possibility is maybe they just decided “their first loss is their best loss”? Maybe they have watched as the core of Europe has asked for their gold back and understand that “trust” amongst central bankers is waning? Maybe they simply decided to front run the obvious and necessary re set and do it on their own terms? It is very hard to say what exactly the motivation was, the important thing to understand is their action has started a re set in motion which will not be stopped! In plain English, the Swiss just yelled FIRE …while standing in the exit! I have several other questions but first I want to point out the obvious. Oil was cut in more than half in dollars over 6 months, could you say the price of oil was “re set”? How about copper? How about other foreign currencies? Could the huge moves in so many assets qualify as being “re set”? The collapse in oil and copper prices are black swans pointing to a rapidly slowing global economy. The Swiss removing their currency peg is another black swan event and in reaction to the ECB moving toward hyperinflating their currency. My biggest question now is this, what will happen when China allows their currency to float? The Swiss are one thing, China is whole different story! Think of the ramifications when it comes to trade? Another, maybe even more important question is what will happen when the Chinese “force” the price of gold and silver to trade freely? Let me explain this further. The Chinese know full well that gold IS money, otherwise they would not have spent the last several years buying almost every single ounce that came from the ground. They know it is artificially priced by New York and London. They can “float” gold in several manners. First, they can simply bust the COMEX and LBMA by bidding for and purchasing both their entire inventories within a 24 hour window. Another possibility would be to simply put out a “global bid” and state some price (much higher than current) they are willing to buy any and all gold, presto, COMEX and LBMA would be busted without them doing it directly! I recently wrote of a “Global Margin Call” where because oil and other assets, currencies, etc. have moved so rapidly, many derivatives traders have surely been thrown “offside”. This move by the Swiss is nothing different except it was done “officially”. Actually, the funny thing is they moved to suspend what they were “officially” (and artificially!) doing. The move by the Swiss has only made the global margin call that much bigger! The global re set which was already in the works is now publicly and officially happening before your very eyes. You can close your eyes or not believe this fact, it will not make it go away, nor will it insulate you financially from what is coming. To finish, and I plan to follow up maybe even tomorrow, the most important re set will be that of gold and silver prices. I say “most important” because these are the only “tools” available to you as an individual to protect your wealth. If the Swiss franc and the euro can change in value by 30% within five minutes, what do you think the revaluation of gold and silver will be when the 100 ounces of “paper metal” come looking for the real thing? At what price will the market clear? Add a zero? Two zero’s? Please understand this, when the margin call is issued worldwide, there is only one money where the call will work in reverse, precious metals. The “call” will be for real, yet non existent metal. Gold had already sniffed this margin call and re set out a couple of months ago. No matter how much paper was thrown at it, it simply stopped going down. Even while the dollar strengthened synthetically, gold went higher versus the dollar. Gold has clearly been THE best money, what do you think will happen to real metal when it turns out that 99% of the supposed global supply is proven as counterfeit? We will soon witness the greatest margin call in all of history. We will also witness the greatest transfer of wealth and re set in all of history! My only question is whether what so far has been “rolling re sets” becomes an official market/bank/finance closure and announced …or, do the markets continue to trade and force re sets in market after market. As an additional note, we have one last question to ponder which may or may not be connected. Koos Jansen put forth a “mystery guest’s” theory that the Swiss went short gold in Sept. 2011 which marked the top in gold. He asks in the following link, “did Switzerland just cover their short“? https://www.bullionstar.com/blog/koos-jansen/guest-post-i-have-a-theory-on-the-swiss-franc/ I believe there may be some credence to this theory but would go one step further. Zerohedge asks the question and speculates Japan may be the next “Switzerland” and pull the plug on Abenomics. Personally I see it a little differently, more importantly, what if the Chinese were to react to the coming QE4 by doing two things? What if China just walked away and sold their dollar holdings …and at the same time revoked their current peg of the yuan to the dollar? Will China some day ratio back their yuan with gold? I think this is likely. Would the dollar collapse 30% like the euro just did versus the franc or will the re set be much larger? Of course the next question would be “how high would gold be marked up”? An unpegging of the yuan by China would be more important and (current) system ending than nearly anything else I can imagine. For China to break their peg, the paper short positions in gold and silver would finally be exposed for what they are, counterfeits! Regards, Bill Holter BILL HOLTER, Associate Writer, Miles Franklin Precious Metal Specialists Website: www.milesfranklin.com Prior to joining Miles Franklin in 2012, Bill Holter Worked as a retail stockbroker for 23 years, including 12 as a branch manager at A.G. Edwards. Later, he left Wall Street to avoid potential liabilities related to management of paper assets. In 2006 he retired and moved to Costa Rica where he lived until 2011 when he moved back to the United States. Bill was a well-known contributor to the Gold Anti-Trust Action Committee (GATA) http://blog.milesfranklin.com/the-reset-has-already-begun
  9. I have been doing a lot of reading on China, and Ebola but had not connected any dots -- I think there are some dots now to connect -- This is very interesting - Add Russia , Gold, US , Iraq, and a few other players and we have a major Monopoly Game ongoing !! Cultural, Economics Ebola and West Africa’s Offshore Oil September 16, 2014 A New Front in the Proxy Resource Wars By JC Collins The movement of troops, especially American troops, is the dead giveaway to any broader game plan which is intended to be hidden within the structure of propaganda and media campaigns. So it is with muted surprise that we hear the news of the United States sending 3,000 troops to help fight the Ebola epidemic in West Africa. As reported in the New York Times yesterday: Under pressure to do more to confront the Ebola outbreak sweeping across West Africa, President Obama on Tuesday is to announce an expansion of military and medical resources to combat the spread of the deadly virus, administration officials said. What isn’t reported in the article is that 1/3rd of all new oil discoveries have taken place in West Africa. As reported by Business Day back in May: West Africa Region accounts for a third of the world’s new oil discoveries, especially in the Nigeria’s Niger Delta basin and the Gulf of Guinea. According to the US Geological Survey, the West African Coastal Province has an estimated 3 200 million barrels of oil. Oil exploration off the coast of West Africa has surged since 2007 when Tullow Oil found the Jubilee field in Ghana, one of the continent’s biggest recent finds. New finds have been made in Liberia and Sierra Leone, while Mauritania’s discoveries over the last decade remain to be replicated. Niger has now become a producer and Mali awaits discovery of commercial hydrocarbons. There has also been a burst of exploration activity in the neighbouring countries of Sierra Leone, Liberia and Gabon with the hope of finding Jubilee-type giants in the Cretaceous fan formations and pre-salt structures. In Guinea, Tullow is undertaking a seismic survey looking at a potential reserve of 10 billion barrels of oil, and Simba is exploring for oil in Guinea, Ghana, Mali, and Liberia. Cote d’Ivoire has been through a number of political changes and a civil war but Lukoil are on the verge of investing about $400-million in exploration activities in a prospect there. Considering the resource proxy wars which are taking place in Eastern Europe and the Middle East, are we to think that the large offshore oil fields in Western Africa are not subjected to the same proxy strategy? But it gets even more interesting. From the same Business Day article: Now, the attention is shifting to East Africa. Recent discoveries in Mozambique, Kenya, Tanzania and Uganda have turned the focus on the region. Massive investments have followed the discoveries in the region too. In 2012, more than 50 exploration wells were completed in East Africa, which is more than half of conventional oil and gas resources found worldwide. And here from a Policy Paper published in 2012 from the Center for Chinese Studies titled “China’s role in the East African oil and gas sector: a new model of engagement?” we learn of how China is actively and strategically setting itself up for control of the oil and gas in Eastern Africa. And to add even further credence to the importance of African resources, here is another publication, Middle Africa Briefing Note on Energy, this time by Ecobank, the Pan African Bank, titled “Exploration in West Africa’s Frontier Could Unlock 9 Billion Barrels in 2014″. Right out of the gate the policy paper states the following: Oil and Gas independent companies have spent US$200 million over the past 4 years acquiring assets in some of West Africa’s less explored countries, notably, The Gambia, Guinea, Guinea-Bissau, Senegal, Sierra Leone and Liberia. So lets take a look at a map of the offshore oil discoveries in West Africa. Here is a map from the USGS: And here is a map of the Ebola outbreak from the same region. This map is provided by USAID and the CDC: You can literally superimpose one map over the other and conclude that the mobilization of 3000 American troops to West Africa has more to do with securing the offshore oil resources than it does the Ebola outbreak. But like all great plans and strategies there are multiple moves at work here. There is a very high probability supported with strong evidence, that the Ebola virus was manufactured and dispersed intentionally. As covered in the previous post Global Pandemic and Quarantine, the Ebola outbreak is offering a very convenient pretext for shutting down global equity markets and invoking a subtle form of martial law across the spectrum of western and eastern countries. This would obviously facilitate the transition to the multilateral financial system while offering a reason to the disorganized masses for the failure of the old and the need for the new. Any forward action on these fronts well likely be a slow burn as opposed to fast jumping movements. The economic transition in essence started back in 2008 and has been progressing as a very slow pace. This will continue until 2018. The Ebola outbreak, for its part, offers the same slow burn approach as the economic policy and institutional changes which are taking place. There are seldom coincidences of this calibre which take place on such a global scale. The resource proxy wars continue in Ukraine and Iraq, and now we can recognize the Ebola outbreak in Western Africa as another front in the same war. What will be interesting down the road is what will happen when the US controlled West African fields and the China controlled East African fields eventually meet in Middle Africa. What proxy war structure can be established in the region at that time? Perhaps the North Africa country of Libya is more strategic than first realized. – JC
  10. Every time I turn around China & Russia are in the news - lots of News about what China is doing -- I think we are suppose to pay close attention to what China & Russia are doing with emphasis on gold - Just this past week I listened to 2 lengthy interviews with 2 men who were putting major emphasis on China & Russia -- They are extremely knowledgeable about currency , economy, politics and how it all plays out affecting us globally!! They both said to watch what they do!! I think China & Germany are still steaming mad that the US will not give them back their gold - China Plays Game of Chicken with the US 0 China 4:44 PM China is not going to wait until the West (Anglo NWO aggressors plus coward European vassals) has managed to destroy Putin-Russia (via internal destabilization/Maidanization), because it knows it would be next. This explains the incident that occurred last week: “WASHINGTON — A Chinese fighter jet flew within 30 feet of a Navy surveillance and reconnaissance plane this week in international airspace just off the Chinese coast, the Pentagon said Friday. The encounter, known as an intercept, was “very, very close, very dangerous,” said Rear Adm. John Kirby, the Pentagon press secretary. The Pentagon filed a diplomatic complaint with the People’s Liberation Army on Friday morning, Defense Department officials said. As of Friday afternoon, it had not received a reply. The episode, which occurred on Tuesday, began with the Chinese warplane flying closely underneath the Navy’s P-8 Poseidon. It then moved parallel to the naval plane, with the wingtips of the two aircraft separated by less than 30 feet. As a final maneuver, the Chinese fighter executed a barrel roll, apparently to show off its weapons payload to the American pilot. A barrel roll is just as it sounds: A fighter jet rolls over and then levels out. Admiral Kirby called it an aggressive move.” [nytimes.com] – Pentagon Says Chinese Fighter Jet Confronted American Navy Plane You could of course ask what business the ‘indispensable nation’ had flying so provocatively near the Chinese coast. As we speak the following focal points undermine American hegemony: China, with an economy that will surpass that of the US this year (according to the Worldbank), has announced it intends to ‘de-dollarize‘ the world Russia is resisting the western power grab in Ukraine and will probably manage to make its influence in Ukraine felt again Jihadists are busy taking over the Middle East, enabled by the Clean Break/PNAC folly of the nineties, letting the Jihadist genie out of the bottle, leading straight into a Caliphate, probably run by Turkey. The US centric financial system around the dollar reserve currency facescollapse European nationalism is on the rise, with a positive view of Russia anddistrust towards America The recent Ferguson stand-off, flash robs, ‘game of knock-out‘ has shown that ethnic tensions are high and could explode and will explode once the US financial system will collapse There is an Euro-American constitutionalist undercurrent in US society that resents the way their country is developing. The globalist elite is completely unwilling to preserve the Euro-American character of the US, this new school year whites will be a minority for the first time and at some point a revolt can be expected from the Euro-Americans, just like happened anywhere else in the world where huge demographic changes occurred. Militarily the US are a paper tiger and the rest of the world knows it. Yes, it can create a lot of ‘shock and awe’ initially, but the US military has no staying power. In WW2 they showed up when the war was almost over and had to rely heavily on their senior Soviet ally, who did almost all the work. They were beaten by the tiny nation of North-Vietnam (ca. 20 million, China has 1300 million). And although sold as a victory, insiders know that effectively the US was thrown out of Iraq and did not accomplish anything other than handing over the country to the Iranian sphere of influence for free (for the Iranians that is, not the Americans) There is the 9/11 Sword of Damocles that won’t go away and has the potential of wiping out the entire US political class once a breakthroughcould be achieved What is a developing now for the US is a ‘convergence of catastrophes': potential wars with Russia, China and Jihadists at the same time, losing Europe as an ally, that will switch to Russia, losing reserve currency status of the dollar so the US can no longer pay for its imports, causing permanent ‘flash mobs‘ with strong ethnic undertones, which will prompt the ‘red states‘ to attempt to secede, which Washington will try to prevent. That will be the moment for a combined European-Russian military intervention in America, a repetition of what happened when The French and Dutch intervened in America in 1776 and made the decisive difference in achieving American independence from the British. This time it is neocon/AIPAC/NSA-Washington that constitutionalist red state America needs to be liberated from. [source] The American Bogdan Milošević/Lech Walesa? The scenario will be in perfect symmetry with what is happening in Donbass/Ukraine today: a few red states declaring independence and seceding from Washington, the latter not accepting this development and mobilizes against it and civil war will be the result. This will be the moment for Greater Europe/the North to support the secessionists, first with weapon deliveries via French Canada, Mexico or, like in 1776, via the Caribbean, later with mercenaries. After all, if in the thirties 150 million Anglos could generate thousands of mercenaries to fight in Spain on the side of Stalin against Spanish Catholic nationalists, 700 million Europeans can be expected to generate a multiple of that number to prevent AIPAC-Washington from consolidating its power and establish a USSR-2.0 and ally itself with China against Greater Europe, similar to what Roosevelt America did in the thirties vis-a-vis the USSR. Source: http://deepresource.wordpress.com/2014/08/23/china-plays-game-of-chicken-with-the-us/ http://www.wucnews.com/2014/09/china-plays-game-of-chicken-with-us.html
  11. This post was very challenging in the formatting - I hope I was able to locate and fix all the glitches - links are posted though for your verification and further reading - I almost gave up on posting it - any misplaced text is not my intentional doing lol - sorry about the extra lines -- You can bypass the scripture / Bible references if you choose to - that can be a little over whelming if you dont' believe in Bible Prophesy for one & are not well versed and knowledgeable in Bible History - Please do not pass on the reading of the other info -- It is real and in the NOW -- I don't know how to advise on being financially prepared for what seems to be a strong possibility of something very serious happening - but I do have plenty of food lol - I welcome any feedback and serious financial suggestions pre & post RV -- Best of Luck to us all - If you have not watched this video -- Do so NOW: Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Harvey Organ of HarveyOrgan.blogspot.com. http://usawatchdog.com/manipulation-o... Harvey Organ- By December Whole Thing Going to Collapse Preview by Yahoo SEPTEMBER 25, 2014 Here is some good information, to help you know what to expect when the switch is made to our new and governmental systems. -LW Sep 24, 2014I have written for many years that the “kings of the east” in Revelation 16:12 prophesy of China and Russia overthrowing Mystery Babylon today. John says it would take “seven bowls” of judgment-wine poured out over Babylon the city’s overthrow. Revelation 16:12 describes the sixth bowl of wine directed at Babylon, and John’s description shows us that these “kings” are comparable to the Medes and Persians, who overthrew Babylon in 537 B.C. The Medes and Persians dried up the Euphrates River in order to walk into Babylon on dry (shallow) ground. This was in Isaiah 44:27. King Belshazzar of Babylon was killed, Darius the Mede established himself as the new king. Shortly afterward, when Cyrus the Persian came to town, he issued a directive that allowed the people of Judah to return to their old land. In other words, the coming of the “kings of the east” is not a bad thing, but is the way in which God is setting His people free. Unfortunately, most modern eschatological teaching sees these “kings” as enemies of God. They speak of a 200-million man army coming from China to invade the land of Israel, instead of seeing it as an army that overthrows Babylon and sets the people free. I’m not a military man, but even I can see that if such an army began marching west from China heading toward Israel, it would take only one or two nukes to destroy them all. The advent of the nuclear age after World War II made large-scale invasions nearly impossible, because concentrated armies or fleets are so vulnerable today. A simple look at history and the prophecies of Isaiah 44, 45 show the fallacy of the belief that the kings of the east are the bad guys. King Cyrus of Persia is called a “messiah” in Isaiah 45:1, the one that God anointed to overthrow Babylon. King Darius, his chief ally from Medea, was not mentioned directly by Isaiah, but he organized the new kingdom into 120 provinces and installed Daniel as the chief of three governors. This was a type of the being organized, having an outpouring of the Spirit (120) and being ruled by the saints of the Most High (Daniel 7:22). So Revelation 16:12 speaks of the seventh bowl of divine judgment being poured out upon Babylon, and “the kings of the east” are said to do this. It is a latter-day prophecy taken directly from the of Cyrus and Darius, who overthrew Babylon. The modern nations fulfilling these roles are China and Russia. These are the nations that God has anointed to bring down Babylon in our time. They are not the bad guys. The bad guys are the ones who control the Western media, attempting to demonize Russia and China. It is a propaganda war to gain the support of as many people as possible and to justify their plans to destroy much of the world. The ten principles on the Georgia Guide Stones sets forth their agenda. The first principle is: “Maintain Humanity under 500,000,000 in perpetual balance with nature.” http://www.thegeorgiaguidestones.com/message.htm They conveniently neglect telling us how this will be accomplished. It is clear from their actions and statements that they plan to kill about 7 billion people in the name of saving the environment. They are already doing this by creating conflict and war, aborting the unborn children, and creating ill health by disease, toxic substances, and unhealthy food. This is the Babylonian agenda. Since China has the most to lose insofar as population is concerned, they are not going along with this plan of destruction. And Russia has sided with them, as have all the BRICS nations. This rising coalition is the natural enemy of Mystery Babylon. The Glaziev Directive Sergei Glaziev (or Glazyev) is one of Russian President Putin’s advisors. On June 10, 2014 he issued a statement that was of historic importance. This was reported later in an article entitled The Lost Interview, by Jeff Yastine, who is the head of the Financial Intelligence Report. (I used to watch Jeff on Nightly Business Report.) The Lost Interview is where Jeff Yastine interviewed Jim Rickards, a former CIA analyst who wrote a book entitled The Death of Money. The full interview can be read here: https://w3.newsmax.com/LP/Finance/FIR/FIR-Collapse?dkt_nbr=qeo9ocnz In this long interview, Jim Rickards tells us that after the Twin Towers demolition, the CIA noticed that the unnamed “terrorist” had placed bets that the airline stock prices would go down. Whoever did this made a lot of money when it happened. In other words, someone with a lot of money knew about the Twin Towers disaster before it happened, and they positioned themselves to make money on it. Rickards does not even give a hint to tell us who had done this, although it seems to me that all such financial transactions are recorded somewhere, and the CIA should have no problem finding out who did this. If the Twin Towers had been destroyed by the media’s scapegoats, no doubt he would have told us, for he would have no reason to hide it. Keeping it a secret, however, reveals the truth with the sounds of silence. No matter. The point is that the CIA and Pentagon began tracking financial anomalies as indicators of soon-coming “terrorist” events. Rickards said, The main purpose of the attack on 911, he says, was to kill people, but the more damaging effect was to collapse the economy. Are we to believe, then, that al-Quaeda terrorists not only planned the attacks but also bought millions of dollars worth of options on the stock market in order to profit from the collapse of airline stocks?? “The agency believed that terrorists were trading in airline stocks before the run up to the terrorist attack… “We found clear evidence that someone knew the attacks were about to happen. Without getting too technical, the terrorists were using the options markets to make big bets that airline stocks would tank.” Collapsing America By discovering the large purchase of options against the airline stocks, He says that the CIA came to understand the absolute vulnerability of Europe and America. They had “irrefutable evidence that that shows this collapse is imminent and could happen at any time.” “In fact, when the Pentagon got wind of the shocking discoveries he made while working on a top-secret project for the CIA, they quickly militarized his findings in preparation for the financial chaos to come.” He explains how America has seen three economic collapses in the past century: 1914, 1939, and 1971. Those crises came before the banks and economies of the world were tied together. He uses the metaphor of ships at sea. If one goes down in a storm, the others may survive. But if they are all tied together, and one goes down, they all go down. In other words, the next great financial crisis in any sizable nation will take down the rest of the world with it. The BRICS Alliance Turning to a more recent group of nations that is taking steps to bring down the Western banking system, He shows how the BRICS alliance (Brazil, Russia, India, China, South Africa) is positioning itself outside of the Western system and is setting up its own counterpart to the IMF in order to survive the coming collapse in finances and in trade. Rickards describes the plan as coming in TWO STEPS. “Their first step was outlined on June 10, under the Glaziev Directive. A directive that spells out the first punch that will knock the U.S. economy to the mat. And while this first hit will shake the foundation of our financial system to the core, it’s the second punch that will deal a deathblow to American wealth and everything you hold dear.” He continues later, saying, “Pen was finally put to paper on June 10, when Vladimir Putin’s economic advisor, Sergey Glaziev, published a bold directive where he outlined the rationale behind an international alliance of countries [the BRICS] that were ready to get rid of the dollar for international trade and also to stop using it as their reserve currency. “And taking it one step further, Elvira Nabiullina, the governor of the Russian central bank, recently stated that Russia is in discussions with China and their BRICS partners regarding the establishment of a new system for multilateral trade. “It will allow the transfer of resources from one country to another, as needed, so each member can start directing their currency reserves away from the dollar and to the new system.” In other words, the BRICS nations will trade among themselves using their own currencies, instead of using the US dollar to pay each other when goods are traded. This shift began after 911 and is a direct consequence of 911. He forgets to mention that the BRICS nations have every right to set up their own system, especially since the past system put an economic strangle hold on everyone else while refusing to exercise proper fiscal responsibility. In other words, the old system was broken and needed replacement. The Consequences of 911 In the 1920’s and 1930’s they (and many nations) sent gold to the Federal Reserve Bank for safe-keeping, knowing that there was soon coming a war with Japan. These gold shipments were not gifts, but loans, and so they received interest-bearing receipts for them. These bonds for the gold-loans came due at various times, but perhaps the most important were the 60-year loans in 1938 that came due in 1998. When the Fed bankers balked at paying back the loans, the Dragon families sued them in the World Court, winning their case. The Federal Reserve Bank was given a deadline to pay their debt by September 12, 2001. The day before the debt was to be paid, all the records were lost in the Twin Towers demolition. The records were held in the offices of the Cantor Fitzgerald law firm, which one of the planes hit directly, killing their entire staff and destroying all their records. The gold under the Tower was secretly stolen and shipped away to a more secure, secret location, probably in Paraguay. There is little doubt that the same people who had purchased the “put options” against the airline stocks were the same ones who had refused to pay their debts to the Dragon family. The Dragon family then experienced a “reality check,” seeing clearly that these bankers had no respect for the law. They were ruthless and were willing to kill thousands of their own people (Americans) and even to start a world war rather than pay their debt or give up power.A new approach was needed, one that was slower. The BRICS Alliance The foreign ministers began meeting in 2006, and a full-scale diplomatic meeting was held in Russia in 2008. It started out with just four nations (BRIC), but when South Africa joined them in 2010, it became the BRICS alliance. On July 15, 2014 they set up the BRICS Development Bank as an alternative to the IMF. This came 70 years after the US Dollar had been crowned king at the Bretton Woods Convention in July 1944. The Glaziev Directive on June 10 stated the official policy for the BRICS nations. Rickards says this Directive reveals a two-step policy to success in establishing the alternate economic system. Its success, of course, will have a side effect of destroying the old system. Rickards of this, “This is step one in a coordinated effort to unseat the U.S. dollar as the world’s reserve currency. But what’s even worse is step two. Through my market intelligence sources, we now see that the major governments, including the United States, the Eurozone, and China are allowing a covert redistribution of gold so the entire system can be reset—a preplanned, global reset of the value of money… “It’s conspiratorial in that the governments involved don’t want others to know what they’re doing. In truth, it’s just a pragmatic way to stabilize the monetary system globally, and prepare the major parties for a global reset of the value of money. A reset that will save the system, but unfortunately, as I mentioned earlier, millions of people are going to have everything they own virtually wiped out overnight.” Rickards seems to admit here that this new BRICS plan is designed to “save the system,” not that it will save the old Bretton Woods plan, but that it will set forth a new plan that will save the world from the collapse of fiat currencies and world trade in general. We see, then, that the second step will be the actual Global Currency Reset, which I have written about for some years now. China’s accumulation of gold has been a very poorly kept secret. I am not sure why Rickards thinks it is a secret. His point is that those who are holding paper currency and paper contracts when this Reset hits are going to find that their money has lost most of its value. Only those who are holding tangible assets (such as gold or silver) will benefit by this Reset. Those who have the most to lose are those with retirement funds or money in the bank or currency under the mattress. Such currency used to be “as good as gold,” until 1971 when President Nixon made it “as good as the faith and credit of the United States.” However, since that time, with the astronomical amounts of new money being created out of nothing, that “faith and credit” has been severely eroded, and many nations are now very nervous about holding US dollars. All it will take is for one nation to scream “Fire!” for the whole world to start bolting toward the door to get out of US dollars. That will be the end of Babylonian world history. The power of Babylon is bound up in the value and quantity of its money. Rickards’ Perspective In reading this interview, it is clear that Jim Rickards is coming from the perspective that US hegemony (dominance) in the world is the preferred world order. In his view, what the BRICS alliance is doing is “bad.” He has been working against the BRICS alliance in the CIA, hoping to slow down the demise of the US dollar. But in a broader view, every country ought to be as “sovereign” as they claim to be in public. Nations should not be forced (or bribed) into any policy that is detrimental to its own well-being. However, we have to live in “the real world,” where national sovereignty is a myth for most nations. Hegemony is the reality. Wars are really just turf wars fought by gangs of nations seeking more power and dominance. The people (and individual soldiers) are the greatest victims. After World War II, much of the world lay devastated, while the US came out relatively unscathed. That is why the US dollar was crowned king in 1944. That is how US hegemony became entrenched. But the world has now rebuilt itself, and new nations are emerging with strong economies and militaries. US hegemony is being challenged. The BRICS alliance has banded together to challenge that hegemony and to form a new economic alliance without being tethered to its former master—the US dollar. Those nations have every right to buy as much gold as they wish. And here is where it appears as if the US and China have a common goal. In order for the US to maintain the value of its dollar, it must manipulate the value of gold lower and lower, because all value is relative. A low gold price means a high value for the dollar. At the same time, China is buying gold at those low, low bargain prices, because the new system that is coming will see money that is backed by real assets such as gold. In other words, the manipulation going on in the West by the price-fixing banks is playing into the hands of the BRICS nations, especially to China and India. The longer this goes on, the more gold they will accumulate, and the better off they will be when the Reset occurs. Conversely, the US will be caught without any gold at all. Few people in the know believe that the US government really holds 8,000 tons of gold, as it claims to have. It cannot even find enough gold in its coffers to give back what they have been storing for Germany when that nation recently demanded its 300 tons of gold. Again, in the 1990’s when China bought gold from the West, it discovered that the gold was really just gold-plated tungsten. They traced it to Fort Knox, where the gold was counterfeited. The story hit the internet news in 2009. Jim Rickards does not speak from a biblical perspective. He is trying to save the old way of life in America for as long as possible. I can appreciate that, of course, but to me it is more important to find out what God is doing in the History of the Kingdom. Just because we have a high standard of living in our Babylonian captivity does not mean that it will last forever. At some point Babylon’s foundations will erode and collapse. The Judahites in Babylon did not want to leave either. After 70 years, most of them were well entrenched in Babylonian life and business, and did not want to endure the trials of recolonizing their old land. That is why so few returned with Zerubbabel. A similar situation exists today. Babylon has made America wealthy, largely due to the world trade tax that is imposed upon every nation that does international trade. Because the US dollar is used for making payments in world trade, the wire transfers have to be made in US dollars through the SWIFT system of money transfers. All such payments go through the Federal Reserve Bank, which takes a percentage of the transaction as a fee. This is, in effect, a tax on all world trade. The BRICS nations are setting up a new system of payments through their own bank which bypasses the SWIFT system and the Federal Reserve. Payments are being done in each country’s own currency for the present, but soon will create its own world reserve currency made up of a basket of currencies. In other words, world trade going through the BRICS bank will be settled in about four specific currencies, rather than the single US dollar. Jim Rickards concedes that because of this the US dollar is doomed. So when can we expect this global reset to happen? Rickards does not give a date, but he says essentially that it will happen when China feels it has accumulated enough gold to secure its yuan (currency) as part of the “basket of currencies” that will replace the US dollar. He says, Jeff: And when you think about it, it’s almost as if there’s no way out of this…. Jim: You’re right. And it is just more fuel for the fire as global players look to distance themselves from using the dollar as the world’s reserve currency. And while America is loath to lose its position as the world’s reserve currency, our astronomical money printing to cover our debt makes it impossible to sustain. Basically, we’ve overstepped our monetary bounds for good, and there is no turning back… I’ve had private conversations with former Federal Reserve board members, and other central bankers around the globe, on what’s going on behind the scenes—what’s not getting reported in the mainstream media—and frankly, everything I’m hearing is that this global reset is about to hit. In fact, we already know what it looks like, and when you can expect it to happen. So when can we expect this global reset to happen? Rickards does not give a date, but he says essentially that it will happen when China feels it has accumulated enough gold to secure its yuan (currency) as part of the “basket of currencies” that will replace the US dollar. He says, “And while countries publicly claim that they no longer tie their currency to the value of gold, what they are doing privately is a different story. . And China is the biggest actor in covert gold acquisition…. And since it knows the ‘dollar’ system is coming to an end,it has to increase its gold holdings before it can trigger a global reset of the world’s [new] reserve currency.” But since China’s official figures do not match their actual holdings, we are on our own in figuring out how much they really have, and how much they need to have before the reset. Jim says, Jim: China’s last official announcement was over five years ago on April 25, 2009. At that time, it claimed to have 1,054 tonnes. That’s a 76% increase from the 600 tonnes it had in 2003. Right now, Shanghai Daily has reported that China has quietly amassed about 2,710 tonnes of gold. Jeff: That’s an unofficial number. Jim: Yes, that’s an unofficial number. But you and I both know that China controls its media. So it is letting it be known that it is accumulating more gold, but it is not letting the public know exactly how much. But from what I have gathered from trusted sources, the Chinese actually have amassed around 4,000 to 4,500 tonnes of gold already. Jeff: Wow, that’s a massive difference. Jim: It is. And when Chinese gold hits around $5,000 an ounce, all bets are off. It will be the second punch that will deal a deathblow to the dollar. And set off the wholesale destruction of American wealth. The bottom line is that China is being allowed to acquire gold without spooking the markets and driving up the price. This way, it will be “on the train” when it leaves the station. The only problem is that when the train leaves the station and the global reset triggers a new reserve currency, nearly all American wealth will be wiped out, except for those who have prepared themselves in advance… One last thing, Jeff. Our viewers should know that China could announce its holdings at any time. So they shouldn’t wait to get their financial house in order. The time to act is now. Before it’s too late…. Jeff: From what you’ve seen today, we are beyond the point of no return, as China prepares to announce its official gold holdings at any time. And when it does, there will be no time left to prepare yourself for the devastation ahead. And to think our government is helping China do it. By suppressing the price of gold, under the guise of weakening its function as a reserve currency, China is able to covertly acquire as much gold as it will need to trigger the death of money as you know it. So the bottom line here—as they see it—is that China is holding about 4,500 tons (tonnes) of gold right now. They suggest that their goal is to accumulate about 5,000 tons before announcing the global currency reset. When they make this announcement, investors will realize that the current price is totally unrealistic in view of all the secret purchases going on in the past few years. This will make it impossible to rig the price of gold any longer, and it will shoot up almost immediately to at least $5,000 per ounce. At that price, it will be able to back the new basket of currencies that the BRICS nations are putting together to replace the US dollar as the world currency for the next century or longer. Meanwhile, the US has no defense against what is coming, unless it is able to start World War III and destroy the BRICS nations (beginning with Russia). The price-riggers have no choice but to keep the price of gold and silver low, because that is the only way the dollar can retain its value. But rigging the market to keep the price of gold low allows China and India to buy gold cheaply with all the dollars they hold in their reserves. When things change, those nations holding gold and silver will emerge as the strongest in the world. The others will suffer loss. For us, it is important to see that China is playing the role of modern Cyrus, while Russia is playing the “front man” role of Darius. Hence, Russia taking all the heat, while China remains quiet while backing Russia to the hilt from behind the scenes. As believers who understand Bible prophecy, we have no reason to fear either Russia or China. God has raised them up to overthrow Babylon and to set us free. Jim Rikards is sounding the alarm in order to sell more books, of course, but we can look at the facts without fear. The fact is, the Dragon families of China are emerging as the real power brokers in China and the BRICS alliance. They were overthrown in 1910 when the last dynasty was overthrown and the Republic of China was established, and have been in hiding since 1949, when the Communists took power. These Dragon families have made it known that they intend to minimize the chaos as much as possible on account of the global reset. The destruction and chaos could be greatly minimized if the Babylonian oligarchs of the West would simply capitulate and give up power. For example, if the US congress would agree to ratify the new IMF reforms—as the rest of the world has already done—this transfer of power could be more amicable. But the Western oligarchs have chosen to foment war and to sponsor terrorism in order to cause chaos in hopes of extending their dominance for a little while longer. This is the primary reason the transition will cause pain to so many people. We can hardly expect anything else from these people, and for this reason we should prepare ourselves to the best of our ability. As for the Dragon families, they intend to use their enormous wealth for the benefit of mankind to rebuild the world under Divine Order—as they understand it. In my view, I suspect that they will need further divine counsel through a study of God’s law in order to perfect what they are setting up. Their main concern now is in the economic and financial realm. Once this is established, they will see the need to change the judicial systems of the world. They will need instructors to teach the laws set forth by Moses, the applications of law by the prophets, and Jesus’ New Covenant understanding of the law seen in the gospels. Source. Source: http://2012thebigpicture.wordpress.com/2014/09/25/recommended-the-soon-coming-global-reset/
  12. China: Shopping Centre Paves Walk With Gold Bars The streets have been paved with gold at a shopping centre in China where a walkway has been built using real 24-carat bars. The walk at the indoor precinct in Yichang, in Hubei province, consists of 606 shiny yellow bricks, worth $32m (£20m) in total, the Chinanews.com website reports. The bricks weigh 1kg (2.2lb) each, and are covered with a glass pane. The lavish attraction was created to celebrate the shopping centre's 18th anniversary - and to attract customers during the upcoming "Golden Week" national holiday, after which it'll be dismantled. Shoppers have been eager to use the walkway, as it's apparently believed in China that walking on gold brings luck, according to the Shanghaiist blog. Golden Week starts on 1 October - the day the People's Republic of China was founded in 1949 - and lasts until 7 October. It's a popular time for Chinese people to travel, usually to visit relatives in other parts of the country. Completed two days ago in a shopping mall in Yichang, Hubei, the golden walkway is comprised of 606 gold bricks and weighs in at approximately 606 kilograms. The expensive walkway was built in celebration of the shopping mall's 18th anniversary and as a publicity stunt to attract shoppers during the upcoming Golden Week. By Lucy Wang http://www.infowars.com/china-shopping-centre-paves-walk-with-gold-bars/ Hubei shopping mall paves walkway with gold bricks worth over 200 million RMB! Forget what you've heard about the streets of Heaven, a shopping mall in Hubei has built a walkway with over 200 million RMB worth of gold bricks and Chinese shoppers are tripping over themselves to walk over the pricey real estate! Estimated to cost over 200 million RMB, the golden walkway is said to be the most expensive tourist attraction in the history of that region. Shoppers are encouraged to walk across the golden walkway. Common belief has it that walking on gold is an auspicious activity that will bring great luck and fortune. The shopping mall is expected to disassemble the golden walkway at the conclusion of Golden Week. http://shanghaiist.com/2014/09/22/hubei_shopping_mall_paves_walkway_w.php
  13. Published on Sep 9, 2014 Harvey Organ at Harveyorgan.blogspot.com says the world is running out of physical gold and silver needed to suppress prices. Organ says when China and Russia disclose the true amount of gold they hold, there will be a price spike never before seen in the history of the world. Organ says, “You will see that you will go to sleep at night, and you will wake up the next morning and see gold bidding at $3,000 per ounce, and there will be no offer, and it will rise by $500 a day. It will come in 2014. They are running out, they don’t have it.” The supplies for silver are even more strained and suppressed according to Organ. He says, “Silver is similar to what is going on in gold, but even better. In China, on September 22, they are going to have a futures market similar to Comex, but it will be in physical metal. You settle in physical metal. So, for the first time, you are going to see the pure price discovery mechanism work, and it’s going to be in total conflict to the crimes that are being committed on the Comex. Organ thinks silver will trade at “$200 per ounce” and says, “By December, this whole thing is going to collapse.” Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Harvey Organ of HarveyOrgan.blogspot.com. http://usawatchdog.com/manipulation-o...
  14. METALS-Copper Rebounds After Encouraging China Factory DataHarpreet Bhal Tuesday, 23 Sep 2014 | 6:20 AM ETReuters * China manufacturing unexpectedly picks up in Sept * Copper deficit narrows to 27,000 T in June - ICSG * U.S. Markit manufacturing PMI for Sept due at 1345 GMT (Updates prices, adds comment, detail; previous SINGAPORE) LONDON, Sept 23 (Reuters) - Copper prices recovered on Tuesday, bouncing off three-month lows hit in the previous session, as encouraging manufacturing data from top consumer China helped allay some fears about the outlook for demand. Benchmark copper on the London Metal Exchange (LME) traded at $6,743.75 a tonne at 0951 GMT, up 0.4 percent. It had fallen to a three-month low at $6,707.25 in the previous session. China's manufacturing sector unexpectedly picked up some momentum in September even as factory employment slumped to a 5-1/2-year low, reassuring investors who had expected weaker numbers from the world's second-largest economy. The metal used in power and construction is still trading more than 8 percent lower so far this year, weighed down by a combination of demand concerns and rising supplies. "It is good that the Chinese economy isn't collapsing but a weaker PMI (purchasing managers index) number would have raised the likelihood of further stimulus from China, which would have given a boost to copper," said Caroline Bain, senior commodities economist at Capital Economics. "The property and construction sectors in China are still not showing any signs of recovery. That, coupled with signs that copper mine supplies are ramping up, have led us to expect prices to fall further by the end of the year." China accounts for as much as 40 percent of global demand for refined copper. "I think they (metals) have been oversold. But obviously, picking the bottom on these things is difficult when sentiment is changing so quickly in the market. Investors' positioning is definitely on the bearish side," said commodity analyst Daniel Hynes of ANZ in Sydney. "If we did see a couple of positive data points, then the market is certainly ripe for a short-covering rally," Hynes said, adding that physical buyers had been largely sitting on the sidelines. Also helping to push metals prices higher was a rise in the euro against the dollar, after a business survey showed Germany's economy probably expanded in the third quarter. A weak dollar makes commodities priced in the U.S. unit cheaper for holders of other currencies. Weighing on sentiment, however, was the expectation of more copper supplies entering the market. The global refined copper market's deficit narrowed to 27,000 tonnes in June, compared with an 88,000-tonne deficit in May, the International Copper Study Group (ICSG) said. The copper market is expected to be in a 226,000-tonne surplus by the end of 2014, rising to 285,000 tonnes in 2015, a Reuters poll in July showed. PRICES Three month LME copper Most active ShFE copper Three month LME aluminium Most active ShFE aluminium Three month LME zinc Most active ShFE zinc Three month LME lead Most active ShFE lead Three month LME nickel Three month LME tin (Additional reporting by Lewa Pardomuan in Singapore; Editing by Dale Hudson) http://www.cnbc.com/id/102024126
  15. Top News London Metal Exchange opens clearing house, to add China currency Mon, Sep 22 14:05 PM EDT By Eric Onstad LONDON (Reuters) - The London Metal Exchange (LME) on Monday launched its new clearing house, which plans to add the Chinese currency as collateral by year's end to lure more business from the world's top metals consuming nation. The launch of LME Clear is a key step by LME owner Hong Kong Exchanges and Clearing Ltd (HKEx) to generate profits after paying $2.2 billion to buy the LME in December 2012, a price which many analysts regarded as very high. The 137-year-old LME set out to build its own clearing house three years ago to take over from LCH.Clearnet, allowing it to collect fees not only for transactions on the exchange, but for clearing them. Over 2 million existing LME positions were transferred over the weekend from LCH.Clearnet to LME Clear. The LME, the world's oldest and largest market for industrial metals such as copper and aluminum, declined to say how much cash the clearing house would bring in. But Jefferies said in a note in July that the new venture would add about $80 million a year in revenue. Revenue from HKEx's commodities business, which includes the LME, rose to HK$645 million in the first half from HK$608 million a year earlier, HKEx said in August. Expansion in China, which accounts for 40 percent of global copper demand, is another key LME strategy, so LME Clear is moving quickly to allow clients to use the renminbi as collateral, LME Clear Chief Executive Trevor Spanner said. "We definitely know there's latent demand for renminbi," he told Reuters. "As more Asian-based members join the LME and LME Clear, they'll be looking to make use of that renminbi facility. We plan to get that up and running in November, subject to the Bank of England's approval." LME Clear is also looking into extending its opening hours into Asian hours, he added. The LME's electronic trading platform is open from 1am to 7pm London time while LME Clear operates from 7:30am to 8pm London time. "This morning, we had over 20,000 trades in the queue, which we processed in about 10 minutes," Spanner said. Adding new products is another way HKEx plans to make money, which will be easier by having its own clearing house and being able to plan specifications for both trading and clearing. The LME has said it plans to launch a new aluminum premium contract in the second quarter of next year and steel rebar and scrap contracts further in the future. LME Clear will also be in a good position to clear over the counter (OTC) products due to the complex structure of LME futures with daily prompt dates. Regulators are keen to shift OTC clearing to established venues to promote transparency. "There's a lot of activity which is not on exchange at the moment. People are interested in clearing solutions for OTC business," Spanner said. The new clearing house also plans to expand types of collateral to include warehouse warrants, ownership documents for metals stored in LME warehouses. Currently, cash and bonds are the only collateral allowed, but since LME contracts are physically settled, LME members requested the addition. (Editing by Michael Urquhart) http://mobile.reuters.com/article/idUSKCN0HH1BR20140922
  16. Does this impact the Dinar? Does it apply to our investment? China to probe use of foreign currency in trade finance 12/07/2013 BEIJING (Reuters) - Chinese regulators will clamp down on banks' and companies' use of foreign currency for trade finance by ensuring that trade deals are authentic and by monitoring for unusual cross-border cash flows, state media reported. The report did not specify the illegal activities targeted by the State Administration of Foreign Exchange (SAFE) in the clampdown. China is in the midst of an effort to quell currency speculation, however. Banks have not fulfilled a duty to carry out their own investigations into the use of foreign currency, prompting SAFE to carry out its assessments and punish institutions accordingly, Xinhua reported on Saturday. According to SAFE, the authenticity and compliance of long-term trade financing will be a particular focus of the crackdown, the report said. Penalties for any illegal activity will be increased, Xinhua said. The foreign exchange reserves of China's central bank recently reached their highest level since January 2008 as a result of the rising value of the renminbi, Chinese policy reforms and market expectations that the U.S. Federal Reserve will soon start curbing monetary stimulus, Xinhua said. (Reporting by Paul Carsten; editing by Jane Baird) Source: http://finance.yahoo.com/news/china-probe-foreign-currency-trade-144918869.html
  17. Greetings, Here is a Smile for your day: Reuters reports that China's state-owned Sinochem Corp plans to use Iraqi crude oil for 40 percent of the capacity of its new refinery, in what the article describes as "the latest example of Iraq beating Middle Eastern rivals in the competition for new markets in Asia". The deal wold replacing a preliminary agreement to use more expensive oil from Kuwait, and make Sinochem one of Baghdad's top oil buyers next year, when the company starts its first wholly-owned refinery. I keep reading in my Iraq Business Week points that shine on mid 2014 or before for long awaited moment for RV!!! Sincerely, BradyBear
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