Below is some financial information that may have been unreported, underreported or misrepresented on the controlled corporate media, which is a modern-day band of false prophets. This information is an attack on the strongholds of mind control and normalcy bias that permeate much of modern society.
Jeff Thomas, Posted Aug 10, 2015
Of one thing we can be certain: there will be no warning of impending confiscation. There will be no signs on banks advertising: "Last Chance to Get Your Money Out Offer ends today!" Those who escape the loss of wealth will be those who have removed it in advance of any confiscation and converted it into a safer form, in a safer jurisdiction.
Sputnik News, 07/29/2015
The Russian Group for Siberian Mining has discovered a huge gold field in Sudan. As Sudan's resources Minister Ahmed Sadiq al-Karouri announced in Khartoum on Wednesday, has already signed an investment agreement with the Russians - the largest in the history of Sudan ... The plant will emit up to 50 tons of gold a year, said the manager.
Politicians react angrily to 'dark narrative' of former finance minister's plans for parallel currency
The Guardian, July 27, 2015
Greece's former finance minister, Yanis Varoufakis, defended plans to launch a parallel payment system in the event of the country being ejected from the euro. "Greece's ministry of finance would have been remiss had it made no attempt to draw up contingency plans," he said in a statement. Varoufakis had ordered the ministry's own software programme to be hacked so that online tax codes could be copied to "work out"' how the payment system could be designed. "We were planning to create, surrepticiously, reserve accounts attached to every tax file number, without telling anyone, just to have this system in a function under wraps," he says, adding that he had appointed a childhood friend to help him carry out the plan. "We were ready to get the green light from the PM when the banks closed."
64 trillion dollar question: What contingency plans has the USG made for after the USD is no longer viable? And will those plans help you or hurt you?
Wolf Richter, July 27, 2015
The phenomenal credit expansion in China has taken many forms and has accomplished many phenomenal things, from building entire ghost cities to turning ambient air into a toxic cocktail ... Some of this freshly created money has been spread around. No central bank – not even the Fed with its heroic efforts at the printing press – is a match for the PBOC. Its balance sheet has maintained that number one position in terms of growth since 2003. Its expansion continues unabated and with renewed vigor ... These balance sheets are additive, forming a multi-trillion-dollar pile of newly created money, the largest monetary experiment ever that created the greatest asset bubbles ever, to which any form of non-catastrophic exit remains elusive. [However, they have no external debt, so they can reboot more easily than western nations can. Some people say that they are just playing along with the west, getting ready for a gold-backed Yuan.]
Martin Armstrong, July 14, 2015
Martin Armstrong says that the sudden deal with Iran is actually Part II of an attempt to cut off Russia and isolate it - part of a new cold war against Russia. Part I was to prevent Syria from blocking a pipeline to be constructed through its territory to deliver Saudi gas to Europe to compete with Russia.
and:The Coming of the Mahdi is Upon Us, with English translation by Reza Kahlili
Kyoungwha Kim at Bloomberg, July 3, 2015
The Shanghai Composite Index capped its steepest three-week decline since 1992 as measures to shore up Chinese equities failed to stop margin traders from unwinding positions at a record pace.
Steve Quayle Alert, June 25, 2015
Some large US based companies have recently begun negotiating/implementing changes to the terms of Purchasing Agreements with Chinese companies that will allow them the ability to pay in currencies other than the US Dollar. Usually, the most requested forms of payment are now in either RMB/Yuan, Euros, Rubles, or Dinars. They are also relocating their payment centers out of the US, usually from New Yorkto new payment offices, located in such places as Dubai, Singapore or more times than not; Hong Kong.
Tyler Durden on 06/15/2015
Those who have been following the saga of "Belgium's" US Treasury holdings learned last month that the "mysterious buyer" behind Belgium's Euroclear was, as some speculated, China all along. Nowhere was this more evident than when showing an overlay of China and Belgium's combined TSY holdings versus China's forex reserves. "Belgium" is, or rather, was a front for China: either SAFE, CIC, or the PBOC itself. Belgium's holdings, after soaring as high as $381 billion a year ago, have since tumbled back to only $2532 billon as China has dumped the bulk of its Euroclear custody holdings, and that once this number is back to its historical level of around $170-$180 billion, "Belgium" will again be just Belgium. China's foreign reserves tumbled and this was offset by a the biggest quarterly drop in Chinese pro-forma treasury holdings, which dropped by a record $72 billion in the month of March, and a record $113 billion for the quarter ... In other words, China may finally be getting its capital outflow problem under control, which, incidentally is bad news for the Chinese stock market because if true, it means the PBOC can now step back from micro-managing the stock market bubble and its "beneficial" current account inflows to offset the declining capital account.
Tyler Durden, June 14, 2015
The Writing's On The Wall: The lack of faith in central bank trustworthiness is spreading. First Germany, then Holland, and Austria, and now - as we noted was possible previously - Texas has enacted a Bill to repatriate $1 billion of gold from The NY Fed's vaults to a newly established state gold bullion depository..."People have this image of Texas as big and powerful … so for a lot of people, this is exactly where they would want to go with their gold," and the Bill includes a section to prevent forced seizure from the Federal Government. There are precisely two important reasons. One involves distrust in the current storage system. The second threatens the paper money system as a whole.
Note: If Texes were a stand-alone country, it's economy would be the 12th largest in the world!
Mac Slavo, SHTF Plan, June 13th, 2015
The initiation of an coup on cash is underway: The powerful Bilderberg Group discussed imposing more capital controls on average citizens. During the conference, Bilderberg will set the consensus for green lighting economic restrictions under the justification of stopping financing for terror groups like ISIS. Bilderberg will also discuss new controls on the sale of precious metals throughout Europe. Numerous influential voices have recently called for eliminating physical currency altogether, giving central banks and governments the power to directly control your finances under the justification of preventing an economic collapse and bank runs.
Dave Hodges, 13 June 2015
As the global economy sits ready to implode, the world’s elite are preparing to steal citizens' bank accounts and all other financial assets. When the line of angry bank depositors stretches for blocks as they attempt, in vain, to get their money back, who will be there to protect the bankers who have perpetrated this grand theft of our bank accounts? Dave Hodges thinks that the US and foreign troops involved Jade Helm or its successor will be poised to spring into action when the economy fails.
Bill Holter, JS Mineset, June 12, 2015
This story is from someone who grew up in Zimbabwe and lived through the hyperinflation, had a real job, parents, house, savings, etc. He was asked point blank: what happened and what did you do during that period just to see what reality was. His parents were pretty well off, brits of course, retired (or very close) for a normal Zimbabwean. Considerable savings. Not a mil USD (equivalent) but up there ($250K-$500K’ish I think in hard savings). He said: "They went from set for life here in Zim to not being able to afford a loaf of bread in 2 days." The story is important, because the U.S. dollar is headed for the inferno of hyperinflation...
Charles Hugh Smith, June 12, 2015
If the foundations be destroyed, what can the righteous do? -Psalm 11:3
Why are governments suddenly declaring war on physical cash, the oldest officially issued form of money? The banks and government authorities are anticipating bail-ins, steeply negative interest rates and hefty fees on cash, and they want to close any opening regular depositors might have to escape these forms of officially sanctioned theft. The escape from bail-ins and fees on cash deposits is physical cash, and hence the sudden flurry of calls to eliminate cash as a relic of a bygone age—that is, an age when commoners had some way to safeguard their money from bail-ins and bankers’ control.
SRSrocco, June 10, 2015
While investors were amazed by the massive volume of Indian silver imports last year, 2015 may turn out to be a real whopper. Indians are buying so much silver, they are on track to surpass 2014’s record by a wide margin. According to Koos Jansen, India imported 25% of world silver mine supply in 2014. The latest data through April show India silver imports running about 30% above the 2014 record pace, on track for about 300 million ounces of imports in 2015. India imports alone are on pace to consume about 1/3 of total global silver supply available in 2015.
Wolf Richter, June 5, 2015
One thing the Chinese authorities cannot do is crank up the global economy and demand for Chinese goods. These goods are shipped by container to the rest of the world. But containerized freight rates from China have totally collapsed. The China Containerized Freight Index (CCFI), operated by the Shanghai Shipping Exchange and sponsored by the Chinese Ministry of Communications, has not been put through the beautification wringer that other more publicly visible statistics, such as GDP growth, are subject to. It tracks spot and contractual rates for all Chinese container ports. And it plunged 3.2% this week to a multi-year low of 862, down 20% from February.
Martin Armstrong, May 25, 2015
Martin Armstrong has been warning that the USG is eyeing up pensions. The amount in private pension funds is about $19.4 trillion. The question that has been debated in secret behind the curtain is how to justify to the people taking that over. Just how that is to be accomplished may have been communicated by the Supreme Court as it ruled recently in a unanimous decision that employers have a duty to protect workers in their 401(k) plans from mutual funds that are too expensive or perform poorly. This unanimous ruling sends a warning to employers that they now must improve their plans and it is now an obligation to project employees. This comes just in time for the next step - when the government may seize private funds and prosecute employers who choose badly a fund manager. It sets the stage to JUSTIFY government seizure of private pension funds to protect pensioners when the economy turns down and things get messy...
Theodore Butler, May 11, 2015
The recent acceptance of more than 10 million ounces on COMEX futures deliveries and the physical movement of most of that metal into the JPM COMEX warehouse is a mere fraction of the total amount of silver JPMorgan has acquired over the past four years, but it is clearly the most transparent and may point to JPMorgan reaching the maximum amount of physical silver it intends to acquire, indicating we may be close to when the bank decides to let silver prices rise. JPMorgan may have acquired 350 million ounces or maybe even more than 500 million ounces.
Investment Watch Blog, May 4, 2015
Here's a list of over 200 corporate leaders from major corporations/institutions retiring in Late 2014, 2015:
Michael Snyder, on May 4th, 2015
Warren Buffett believes 'that bonds are very overvalued', and a recent survey of fund managers found that 80 percent of them are convinced that bonds have become 'badly overvalued'. The most famous bond expert on the planet, Bill Gross, recently confessed that he has a sense that the 35 year bull market in bonds is 'ending' and he admitted that he is feeling 'great unrest'. Nobel Prize–winning economist Robert Shiller has added a new chapter to his bestselling book in which he argues that bond prices are 'irrationally high'. The global bond bubble has ballooned to more than 76 trillion dollars, and interest rates have never been lower in modern history. In fact, 25 percent of all government bonds in Europe actually have a negative rate of return at this point. There is literally nowhere for the bond market to go except for the other direction, and when this bull market turns into a bear it will create chaos and financial devastation all over the planet.
Lorcan Roche Kelly, April 12, 2015
Citibank’s Willem Buiter has suggested a new way to rip people off who are waking up to the dangers of keeping money in banks. Rather then let people hold cash at home to avoid negative deposit rates (and the dangers of haircuts, bail-ins, etc.), why not just abolish cash altogether? It sounds like he's working for the beast!
"He [the second beast] causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name. Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666."(Revelation 13:16-18)
Steve Quayle Alerts, April 9, 2015
A female truck driver said she has personally delivered many truckloads of supplies to the underground facilities. She said the gov't is getting ready for a collapse, and she thinks the gov't has just about everything it needs stored underground, because the number of DHS shipments has been declining. (See also: Truck Driver Confirms Underground City Beneath US. 2013)
Mybudget360, April 6, 2015
93.2 million Americans are not in the labor force, a record number that can’t be simply accounted for by retiring Americans. And keep in mind that many older Americans are going to rely heaving on Social Security and Medicare as healthcare costs rise. Where is the money going to come from? Many young workers are just trying to get by and shifting demographics are going to make this inverted pyramid a difficult task to carry forward.
Tyler Durden on 03/27/2015
Janet Yellen, when asked about negative rates, admitted that "cash is not a very convenient store of value."
Andrew McGuire, KWN, March 27, 2015
Maguire: "There was some misinformation released this week by an individual who acted as a mouthpiece for HSBC. We already covered the correct HSBC information in our March 10th KWN interview. Regardless, as you can see from the letter, clearly this has to do with HSBC vault closures, not just 'retail safe deposit boxes.' Also, faced with only two months notice, some clients did in fact choose to sell their gold, rather than face the logistics and expense of moving it."
By Stefan Stanford - All News Pipeline, March 26, 2015
Although the US military has denied that Jade Helm 15 will lead to martial law, some sceptics think it may be a conditioning exercise. Others think it could go live like the Sept. 11, 2001 drills went live. Think about it: Are the Jade Helm 15 military drills in 10 states a codeword for 'China Is In Command'? What if China announces a gold-backed yuan? This is not a prediction. It is just a possibility to consider.
Chris Powell, Secretary/Treasurer of GATA, 2015-03-26
The concentration on gold at the spectacular Mines and Money Hong Kong conference may have inadvertently proved the longstanding contention of the Gold Anti-Trust Action Committee (GATA) that gold market manipulation simply can't be discussed in polite company almost anywhere in the world. It may be considered inflammatory, but only insofar as the world's financial system has become a cosmic fraud that deserves to go up in flames.
Simon Denyer, Washington Post, March 18, 2015
BEIJING — China’s state media indulged in a bit of gloating Wednesday, as Europe's most powerful nations announced they planned to join a Chinese-led Asian regional bank, ignoring objections from the United States. State news agency Xinhua described the United States as 'petulant and cynical' for declining to join the Asian Infrastructure Investment Bank (AIIB). It said the bank was open to all nations but said Washington's 'sour grapes' left it looking 'isolated and hypocritical.'
JS Mineset, March 17, 2015
Something smells awfully fishy here. Does the SEC expect something nefarious to happen in the near future? - CIGA Wolfgang Rech
Tyler Durden, 17 March 2015
From 17 March the Moscow Exchange has started trading in a futures contract on the currency pair Chinese Renminbi — Russian rouble. It is expected that "the new contract will be liquid and in-demand as other Exchange's derivatives, and facilitate the trade turnover between China and Russia." Moscow Exchange's turnover in the Chinese Renminbi grew 700% in 2014 to RUB 395 bln (CNY 48 bln). The record average daily trading volume of CNY 541 mln was seen in October.
Tyler Durden, Zerohedge, 17 March 2015
The US Treasury is desparate to spin US economic strength as the world comes to realize it no longer needs to rely on a unipolar US-based model. Here are three charts that are helpful to see through the lies and propaganda.
RT, March 11, 2015
Increased banking traffic means Russia now has a seat on the board of the SWIFT global interbank communications system. It appears that revenue is more important to the SWIFT organization than US political ambitions, as the seat comes at a time of increased pressure for Russia to be removed from the organization because of sanctions. It is the first time Russia has had a seat on the 25-member board of directors of the Society for Worldwide Interbank Financial Telecommunication (SWIFT) since it joined in 1989. It appears that isolating Russia will not work.
RT, March 09, 2015
Russian President Vladimir Putin has signed a law ratifying the deal establishing the BRICS New Development Bank (NDB), according to a document published on Monday on Russia's official website for legal information. The BRICS NDB was set up to challenge two major Western-led giants – the World Bank and the International Monetary Fund. NDB's key role will be to serve as a pool of currency for infrastructure projects within a group of five countries with major emerging national economies - Russia, Brazil, India, China and South Africa. According to the Russian Finance Ministry, the New Development Bank is expected to start functioning fully by the end of the year, with the headquarters slated for opening in Shanghai. The chairmanship, with a term of five years, will rotate among the members. The bank, which will be able to start lending in 2016, will be open to other countries that are members of the United Nations. The BRICS share is never to decline below 55 percent, however. The money will be used to finance development projects in the emerging economies. India will serve as the first five-year rotating president, and the first Chairman of the Board of Directors will be Brazilian.
Kenneth Schortgen Jr., Finance Examiner, March 9, 2015
The Chinese equivalent of SWIFT is now ready and is expected to be fully operational by the 3rd quarter of 2015, which will allow other nations to transact with the world's largest economy without the need to purchase dollars as a medium of exchange. Additionally, there has been a great deal of speculation over the past two years that China might back their currency with gold once they are fully ready to float it as a global reserve ... Even without a complete global float of the Yuan through their own message interchange, China has grown over the past few years to achieve 9% of all global transactions using their national currency. And with dozens of swap lines already in place in banking systems around the world, as well as London banking centers now able to issue Yuan denominated bonds, nearly everything in the global financial system has been mirrored by China to allow them to compete with, or replace, the dollar's function as the reserve currency.
Michelle Chen and Koh Gui Qing of Reuters, HONG KONG/BEIJING Mon Mar 9, 2015
China's version of the 'SWIFT' system may launch in September or October. The China International Payment System (CIPS) will remove one of the biggest hurdles to internationalizing the yuan and should greatly increase global usage of the Chinese currency by cutting transaction costs and processing times. CIPS would be a worldwide payments superhighway for the Yuan (RMB).
Koos Jansen, March 8, 2015
The World Gold Council is knowingly under reporting gold demand in China, apparently to facilitate redistribution of the world's gold in anticipation of a resetting of the international currency system, Bullion Star market analyst and GATA consultant Koos Jansen wrote on Sunday.
Gerald Celente, KWN, March 7, 2015
What’s so important about HSBC closing down all 7 of their London gold vaults is that the Spyder Gold Trust, ticker symbol GLD, the custodian of that GLD gold is none other than HSBC! So if they are closing down all the vaults, where is the gold going? Who’s going to be holding it, or is it really even there (in the vaults)? Who will be the new custodian? Who is seeing if the gold is really there? So this is shocking news because this also puts a dark cloud over the whole GLD Spyder (Gold Trust) experiment. This is huge news, and it’s not hitting the wires (of the mainstream media) as it should.
[Note: Some experts speculate that some or much of the GLD gold has been used to pay off gold accumulating countries so that they wouldn't ask for physical delivery and cause a default on the Comex. Dr. Jim Willie believes that such a scheme would only go on until the vaults were empty. Are we approaching that day soon?]
Andrew McGuire, KWN, March 6, 2015
HSBC has given only 2 months’ notice to clients that they are closing down all 7 of their London gold vaults! This is an unprecedented move. Why do you think this is? It is because transparency is coming. There is no profit in plain, vanilla bullion banking any longer. Something is brewing behind the scenes, and this is one more sign major changes are coming.
Alasdair Macleod, 6 March 2015
This month the physical gold market will undergo radical change when the four London fixing banks hand over the twice-daily fix to the International Commodity Exchange's trading platform on 20th March. From 1st April the Financial Conduct Authority will extend its powers from regulating the participants to regulating the fix as well. This will transfer price control away from the bullion banks allowing direct access to the fixing process for all direct participants and sponsored clients. The new platform should, therefore, ensure equal opportunity, eliminating the advantage enjoyed by the fixing banks. Crucially, it will change market domination from the privileged fixing members in favour of the deepest pockets. These are almost certain to be China's through the state-owned banks which already control the largest physical market in Asia, the Shanghai Gold Exchange (SGE). American and Western European capitalists have given China and Russia opportunity to create financial chaos by simply hiking the gold price. If they do, which seems to be only a matter of time, then London's fractional reserve system of unallocated gold accounts would simply collapse, leaving Shanghai as the only major physical market.
Simon Black, March 4, 2015, Bangkok, Thailand
A huge billboard from the Bank of China near the Bangkok airport said: “RMB: New Choice; The World Currency.” This means that China is literally advertising its currency overseas, and it’s making sure that everyone landing at one of the world’s busiest airports sees it.
Investment Watch, March 2, 2015
China owns around 1.3 trillion dollars of the United States’ debt, but recently Chinese nationals have been heavily investing in different sectors of US economy. So, how much of the US does China own?
It happened exactly on Elul 29 in 2001 and 2008. How about 2015? Are you ready for the Day of Nullification? Could this be the greatest debt cancellation in history? (If so, most middle class Americans will be left holding the bag.)
And the Lord spake unto Moses in mount Sinai, saying, Speak unto the children of Israel, and say unto them, When ye come into the land which I give you, then shall the land keep a sabbath unto the Lord. Six years thou shalt sow thy field, and six years thou shalt prune thy vineyard, and gather in the fruit thereof; But in the seventh year shall be a sabbath of rest unto the land, a sabbath for the Lord: thou shalt neither sow thy field, nor prune thy vineyard. That which groweth of its own accord of thy harvest thou shalt not reap, neither gather the grapes of thy vine undressed: for it is a year of rest unto the land. And the sabbath of the land shall be meat for you; for thee, and for thy servant, and for thy maid, and for thy hired servant, and for thy stranger that sojourneth with thee. And for thy cattle, and for the beast that are in thy land, shall all the increase thereof be meat. - Leviticus 25:1-7
Dave Hodges, Feb. 19, 2015
By using Soros’ money movements over the past year as the blueprint on what to do and not do prior to the economic collapse, one should keep in mind the results of the Soros list of do’s and don’ts and then act accordingly:
George Soros List of Don'ts:
George Soros List of Do’s
KWN, Feb. 19, 2015
Egon von Greyerz, founder and managing partner of Matterhorn Asset Management AG & Gold Switzerland, told Eric King: "The Western media is constantly lying to the public as the world faces the most dangerous crisis in history. Stock markets are at all-time highs and no one appears to be worried about wealth preservation. Japan is bankrupt and China’s financial system is extremely fragile. Europe is also in trouble and the U.S. can never get out of its enormous debt burden. So far we have already seen 20 central banks ease in 2015. That’s 20 central banks lowering rates in just six-weeks. This is happening because virtually every nation is fighting for the survival of their economy and financial system ... Investors must not worry about the Fed and the constant mainstream media propaganda against gold. Instead they should accumulate physical gold ahead of what will be the biggest economic and financial disaster in the history of the world."
KWN, Paul Craig Roberts, Feb. 17, 2015
Russia just conducted their largest nuclear drills in history. Putin is reminding the West that Russia will not sacrifice its national interests to Washington's demands. Putin can’t allow Russia to be attacked. The only way Russia can be attacked is if military arms flow through Europe to the eastern front. Putin has made it clear with his nuclear exercises that this will have dire consequences for Europe. Putin is letting the European governments know that if they enable Washington’s aggression against Russia, then they are at risk. In other words, Putin will not allow Europe to enable Washington to bring war to Russia with no consequences to Europe.
Sputnik News, 13 Feb. 2015
In response to repeated threats from western countries to exclude Russian banks from the Belgium-based SWIFT system like it has done to Iranian banks since March 2012, Russian banks have launched their own secure system for sending and receiving information about financial transactions. Such a system is required to control prompt information flow as banks send payment orders, which are required for fund transfer settlements. Russia's new service links up 91 Russian credit institutions and allows them to communicate seamlessly through the Central Bank of Russia. This effectively breaks the 41 year SWIFT monopoly. It is small on an international scale, as SWIFT provides services for more than 9,000 financial institutions in 209 countries and territories. Nevertheless, it could be a prototype or the first stage of a system for those countries who prefer to side with Russia, especially as the schism between European countries is rising over loyalty to the Anglo-American financial empire and the BRICS and 100 other countries are growing weary of the petrodollar paradigm.
Steve Quayle, Feb. 11, 2015
Palladium is necessary in high intensity weapons and secret cold fusion. A 1.65 million ounce shortfall is predicted. Palladium is becoming very difficult to acquire. As the situation between Russia and the US becomes more hostile, Russia could cease to export palladium, driving the market to extreme new highs - leading to an even greater deficit than the 1.65 million ounce shortfall already being projected for 2015! The only palladium mine of consequence within the united states is the still water mine in Montana, which is under Russian ownership.
Dave Hodges, Feb. 8, 2015
The globalists are preparing to steal everything Americans own, they have rehearsed for this day, they are on a timetable to carry this plot out and they are laughing at Americans' collective stupidity! The beta tests for the "Grand Theft of the American People" are complete. The first beta test included the hijacking of our money in the bail-outs. The second one was the MF Global debacle. The appointment of criminal Jack Lew when nobody cried foul was the third beta test...
The Schiff Report, Jan. 16, 2015
Peter Schiff and others predicted the Swiss decoupling event. Now, he believes that what the Swiss did to the CHF-EUR link, China will do to the RMB-USD link and the HKD-USD link. Will QE4 and the Swiss example be the excuse that China has been waiting for to "cut and run" from the US dollar?
Alice Baghdjian and Silke Koltrowitz, Reuters, ZURICH Thu Jan 15, 2015
The Swiss National Bank shocked financial markets on Thursday by scrapping a three-year-old cap on the franc, sending the currency soaring against the euro and stocks plunging on fears for the export-reliant Swiss economy. The U-turn sent the franc nearly 30 percent higher against the euro in chaotic early trading. With more than 40 percent of Swiss exports going to the euro zone, firms across Switzerland warned of a plunge in profits, with the luxury and tourism industries most exposed. SNB Chairman Thomas Jordan said the cap had been scrapped because it was unsustainable.
One has to wonder how long other caps and links will remain in effect as the fiat currency fiasco unwinds. For example, how long can the HKD-USD peg continue? Fortunes will be made and lost on currency trades and/or holdings in coming months and years. Note that precious metals moved upward as a result. Current prices are gift to all who have the means to buy.
By Michael Snyder, on January 15th, 2015
Now that it looks like the EU is going to launch a very robust quantitative easing program, the Swiss National Bank has thrown in the towel. It was simply going to cost way too much to continue to defend the currency floor. So now there is panic all over Europe. On Thursday, the Swiss franc rose a staggering 30 percent against the euro, and the Swiss stock market plunged by 10 percent.
Robert Lea, Dailymail, Jan. 16, 2015
Russia cut gas exports to Europe by 60 per cent today, plunging the continent into an energy crisis 'within hours' as a dispute with Ukraine escalated. This morning, gas companies in Ukraine said that Russia had completely cut off their supply. Six countries reported a complete shut-off of Russian gas shipped via Ukraine today, in a sharp escalation of a struggle over energy that threatens Europe as winter sets in. Bulgaria, Greece, Macedonia, Romania, Croatia and Turkey all reported a halt in gas shipments from Russia through Ukraine. Croatia said it was temporarily reducing supplies to industrial customers while Bulgaria said it had enough gas for only 'for a few days' and was in a 'crisis situation'.
Tyler Durden, Jan. 14, 2015
Bloomberg reported that Russia "may unseal its $88 billion Reserve Fund and convert some of its foreign-currency holdings into rubles, the latest government effort to prop up an economy veering into its worst slump since 2009." These are dollars which Russia would have otherwise recycled into US denominated assets. Instead, Russia will purchase even more Rubles and use the proceeds for FX and economic stabilization purposes. "Together with the central bank, we are selling a part of our foreign-currency reserves,” Finance Minister Anton Siluanov said in Moscow today. "We’ll get rubles and place them in deposits for banks, giving liquidity to the economy." ... The implications for financial markets liquidity - not to mention related downward pressure on US Treasury yields – is negative.
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Reluctant Preppers, Jan. 15, 2015 (36 min. audio)
Dr. Jim Willie explains in very simple terms why the US dollar is not money, why it is like dead man being propped up and presented to the world as alive so rich men can buy real assets at fire sale prices. (The comparison is given of Bernie Lomax in the 1989 movie, Weekend at Bernie's.) Jim also explains how the Fed and Wall Street have conspired to suppress gold prices, steal it from Fort Knox and profit from it in the process. The problem now is that the nations that played along with game are tired of it, especially those who are being attacked by the mighty US military and/or messed with by US agents provocateurs, e.g., Russia and some Mideast countries.
SCMP, Jan. 10, 2015
Li Ka-shing yesterday added fresh grist to rumours about his waning interest in Hong Kong as he unveiled a sweeping restructuring of his business empire, switching its base of incorporation to the Cayman Islands from Hong Kong. It might signal a no confidence in HK (see 李嘉诚火速撤离，极其危险的信号！).
Dr. Jim Willie and Paul Sandru, Jan. 9, 2014
Jim Willie explains how the system wide breakdown is now evident in oil price breakdown, USD breakup, Eurozone breakup, Chinese/BRICS currencies fast replacing the USD in trade settlements...
Sofia News Agency, January 1, 2015The Eurasian Economic Union (EEU) officially started functioning on January 1, 2015. The EEU unites Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan. The new economic union envisages free flow of capital, goods services, and workforce on a common market including over 170 million people, according to reports of the Bulgarian National Radio. The constituent states of the EEU are placed under binding laws and have equal representation within the union's executive and judicial bodies. The Eurasian Commission will be headquartered in Moscow, the Eurasian Economic Union Court in Minsk and the financial regulator in Almaty.
Look not every man on his own things, but every man also on the things of others. - Philippians 2:4