Tuesday, November 26, 2013

Housing bubble-era loans principle starting to be due

‘Wave of disaster’ brewing in U.S. as more borrowers miss payments on housing bubble-era loans
"U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble, a trend that could deal another blow to the country’s biggest banks. The loans are a problem now because an increasing number are hitting their 10-year anniversary, at which point borrowers usually must start paying down the principal on the loans as well as the interest they had been paying all along. More than US$221 billion of these loans at the largest banks will hit this mark over the next four years, about 40% of the home equity lines of credit now outstanding."
Subprime 2.0: Big Banks Exposed To $60 Bil In Bad Gov't Loans
"Bank of America has on its books $21.4 billion in toxic FHA mortgages 90 days or more past due, while Wells Fargo has $19 billion, according to American Banker. Citigroup has $4.2 billion and JPMorgan Chase has $3.3 billion. Also on their books: $8.6 billion of "non-accrual" delinquent loans on which FHA is no longer covering interest."

Saturday, October 26, 2013

NSA protest Utah

Bluffdale • "Only a handful of Utahns showed up to protest government snooping into telephone calls and emails, but they probably had the biggest, most relevant backdrop among those who came out in different parts of the country. The five Utahns who showed up for the local version of protests did so on the side of the highway next to the concrete buildings that make up the huge new data center operated by the National Security Agency in Bluffdale."

SYRIA:Behind the Scenes: Top Level Gulf Officials in Syria Soon?

Gulf rapproachment with Syria a possibility
"Highly trusted sources have revealed that some gulf countries are on the course of gradual rapprochement with Syrian official authorities after reaching a conclusion that all their past policies were mistaken. Some sources said they would not be surprised to see top level Gulf officials in Damascus soon."

Friday, October 18, 2013

Total US Debt Soars Over $17 Trillion

"Two days ago, when we described the immediate next steps now that the House had passed the latest debt target ceiling extension, we explained what would happen immediately after as follows: "next up, as the emergency Treasury measures are netted out against the new debt limit, it means that once the new Daily Treasury Statement hits, the total US Federal debt will be just at, or over $17 trillion. Rejoice." Moments ago the first post-reopening DTS just hit, and it turns out our estimate was low. Because as of yesterday, the official US debt is now 17,075,590,107,963.57 an increase of $327 billion "overnight.""
"Treasury's name for this is "extraordinary measures." The common man's name for it is theft."
"Treasury stole $328 billion from May through October, most of it from Federal worker retirement accounts (TSP holdings) and Social Security/Medicare transfers that should have happened to "make good" while the US stood at the debt ceiling."

Saturday, October 12, 2013

EBT benefit food stamps down

Electronic Benefit Transaction (EBT) problems
Shoppers report on ebt system
"Distressed shoppers began calling and emailing the KTLA 5 newsroom Saturday morning to report the Electronic Benefits Transfer (EBT) system wasn’t working.
"A Food 4 Less store in Hollywood confirmed that the EBT system went down at about 7 a.m. "
Iowa DHS: Contingency plan available during EBT outage
"The Iowa Department of Human Services has its contingency plan in place and is working with its vendor to repair an issue with electronic access to food assistance benefits. "
Virginia EBT System Down State-wide
"The manager of a grocery store chain in Mississippi, Mike Ford, who saw our report online, called ABC 13 to tell us his store's EBT machines are down as well. Ford says the EBT machines are operated by a company called ACS, who's website is also down, ABC 13 confirms."
I went to www.ebt.acs-inc.com (the EBT contractor), but my Chrome browser says the site is not available.
Baltimore mayor responds to EBT card issues
"BALTIMORE - People in Baltimore and across the country have been experiencing issues with purchasing food using their EBT cards on Saturday. "
" LoneStar cards have been being declined left and right at East Texas grocery stores. According to NBC NEWS, Texas is not the only state having this problem. More than 600,000 Oklahoma residents have been declined while using their means of food stamps."

Thursday, September 26, 2013

Banking Holiday in Panama Announced

Posted Thursday, 26 September 2013
"This morning the National Bank of Panama announced that it was suspending all services until Tuesday the 1st of October. The National Bank of Panama says that the reason is to upgrade systems. The Banking Holiday in Panama was announced this am.>
"This system wide shutdown has country wide implications. The National Bank of Panama did not warn the people before making the announcement and shutting down the banks. The people do not have access to ATM’s either. We received word of this from family members first. This weekend is payday for people across Panama."

Thursday, September 5, 2013

US Ten-Year Treasury rate close to 3%

Note10 Year Treasury ICAPSD: 10_YEAR GOSet Alerts Overview Historical Quotes /marketstate/country/us 10 Year Treasury Note Market open 10_YEAR /quotes/zigman/4868283/delayed
2.97 Change+0.08 +2.62%
Volume Volume 0 Sep 5, 2013 11:11 a.m. Quotes are delayed by 20 min /quotes/zigman/4868283/delayed Previous close 2.90

Wednesday, September 4, 2013

Hungary Sheds Bankers’ Shackles

International Monetary Fund told to vacate the country; nation now issuing debt-free money
"According to a report on the German-language website “National Journal,” Orbán has now moved to unseat the usurers from their throne. The popular, nationalistic prime minister told the IMF that Hungary neither wants nor needs further “assistance” from that proxy of the Rothschild-owned Federal Reserve Bank. No longer will Hungarians be forced to pay usurious interest to private, unaccountable central bankers"

Thursday, August 29, 2013

Poland will not join strikes on Syria

28.08.2013 12:51
Poland will not participate in any type of military intervention in Syria,” Prime Minister Donald Tusk said on Wednesday morning. "I spoke with [Foreign Affairs Minister Radoslaw] Sikorski and asked him to tell our partners that Poland will not participation in any type of intervention in Syria,” Tusk said.

Tuesday, August 27, 2013

Wikileaks: Syrian intervention plotted months ago

INSIGHT - military intervention in Syria, post withdrawal status of forces
Email-ID 1671459 Date 2011-12-07 00:49:18 From bhalla@stratfor.com To secure@stratfor.com
"There is still a very low level of understanding of what is actually at stake in Syria, what's the strategic interest there, the Turkish role, the Iranian role, etc. After a couple hours of talking, they said without saying that SOF teams (presumably from US, UK, France, Jordan, Turkey) are already on the ground focused on recce missions and training opposition forces. One Air Force intel guy (US) said very carefully that there isn't much of a Free Syrian Army to train right now anyway, but all the operations being done now are being done out of 'prudence.' The way it was put to me was, 'look at this way - the level of information known on Syrian OrBat this month is the best it's been since 2001.' They have been told to prepare contingencies and be ready to act within 2-3 months, but they still stress that this is all being done as contingency planning, not as a move toward escalation. "

Saturday, August 24, 2013

A diplomatic report about the “stormy meeting” in July between Russian President Vladimir Putin and Saudi intelligence chief Prince Bandar

"A diplomatic report about the “stormy meeting” in July between Russian President Vladimir Putin and Saudi intelligence chief Prince Bandar bin Sultan concluded that the region stretching from North Africa to Chechnya and from Iran to Syria — in other words, the entire Middle East — has come under the influence of an open US-Russian face-off and that “it is not unlikely that things [will] take a dramatic turn in Lebanon, in both the political and security senses, in light of the major Saudi decision to respond to Hezbollah’s involvement in the Syrian crisis.”
The report starts by presenting the conditions under which the Russian-Saudi meeting was convened. It states that Prince Bandar, in coordination with the Americans and some European partners, proposed to Saudi King Abdullah bin Abdul Aziz that Bandar visit Moscow and employ the carrot-and-stick approach, which is used in most negotiators, and offer the Russian leadership political, economic, military and security enticements in return for concessions on several regional issues, in particular Syria and Iran.
King Abdullah agreed with the proposal and contacted President Putin on July 30. In a conversation that lasted only a few minutes, they agreed to Bandar’s visit and to keep it under wraps. Bandar arrived in Moscow. The visit was secret. The Saudi Embassy did not follow the usual protocol for Saudi officials visiting Russia.
In Moscow, a preliminary session was held at Russian military intelligence headquarters between Bandar and the director of Russian Military Intelligence, Gen. Igor Sergon. The meeting focused on security cooperation between the two countries. Bandar then visited Putin’s house on the outskirts of the Russian capital, where they held a closed-door bilateral meeting that lasted four hours. They discussed the agenda, which consisted of bilateral issues and a number of regional and international matters in which the two countries share interest.
Bilateral relations
At the bilateral level, Bandar relayed the Saudi king’s greetings to Putin and the king’s emphasis on the importance of developing the bilateral relationship. He also told Putin that the king would bless any understanding reached during the visit. Bandar also said, however, that “any understanding we reach in this meeting will not only be a Saudi-Russian understanding, but will also be an American-Russian understanding. I have spoken with the Americans before the visit, and they pledged to commit to any understandings that we may reach, especially if we agree on the approach to the Syrian issue.”
Bandar stressed the importance of developing relations between the two countries, saying that the logic of interests can reveal large areas of cooperation. He gave several examples in the economic, investment, oil and military arenas.
Bandar told Putin, “There are many common values ​​and goals that bring us together, most notably the fight against terrorism and extremism all over the world. Russia, the US, the EU and the Saudis agree on promoting and consolidating international peace and security. The terrorist threat is growing in light of the phenomena spawned by the Arab Spring. We have lost some regimes. And what we got in return were terrorist experiences, as evidenced by the experience of the Muslim Brotherhood in Egypt and the extremist groups in Libya. ... As an example, I can give you a guarantee to protect the Winter Olympics in the city of Sochi on the Black Sea next year. The Chechen groups that threaten the security of the games are controlled by us, and they will not move in the Syrian territory’s direction without coordinating with us. These groups do not scare us. We use them in the face of the Syrian regime but they will have no role or influence in Syria’s political future.”
Putin thanked King Abdullah for his greetings and Bandar for his exposition, but then he said to Bandar, “We know that you have supported the Chechen terrorist groups for a decade. And that support, which you have frankly talked about just now, is completely incompatible with the common objectives of fighting global terrorism that you mentioned. We are interested in developing friendly relations according to clear and strong principles.”
Bandar said that the matter is not limited to the kingdom and that some countries have overstepped the roles drawn for them, such as Qatar and Turkey. He added, “We said so directly to the Qataris and to the Turks. We rejected their unlimited support to the Muslim Brotherhood in Egypt and elsewhere. The Turks’ role today has become similar to Pakistan’s role in the Afghan war. We do not favor extremist religious regimes, and we wish to establish moderate regimes in the region. It is worthwhile to pay attention to and to follow up on Egypt’s experience. We will continue to support the [Egyptian] army, and we will support Defense Minister Gen. Abdel Fattah al-Sisi because he is keen on having good relations with us and with you. And we suggest to you to be in contact with him, to support him and to give all the conditions for the success of this experiment. We are ready to hold arms deals with you in exchange for supporting these regimes, especially Egypt.”
Economic and oil cooperation
Then Bandar discussed the potential cooperation between the two countries if an understanding could be reached on a number of issues, especially Syria. He discussed at length the matter of oil and investment cooperation, saying, “Let us examine how to put together a unified Russian-Saudi strategy on the subject of oil. The aim is to agree on the price of oil and production quantities that keep the price stable in global oil markets. ... We understand Russia’s great interest in the oil and gas present in the Mediterranean Sea from Israel to Cyprus through Lebanon and Syria. And we understand the importance of the Russian gas pipeline to Europe. We are not interested in competing with that. We can cooperate in this area as well as in the areas of establishing refineries and petrochemical industries. The kingdom can provide large multi-billion-dollar investments in various fields in the Russian market. What’s important is to conclude political understandings on a number of issues, particularly Syria and Iran.”
Putin responded that the proposals about oil and gas, economic and investment cooperation deserve to be studied by the relevant ministries in both countries.
Syria first
Bandar discussed the Syrian issue at length. He explained how the kingdom’s position had evolved on the Syrian crisis since the Daraa incident all the way to what is happening today. He said, “The Syrian regime is finished as far as we and the majority of the Syrian people are concerned. [The Syrian people] will not allow President Bashar al-Assad to remain at the helm. The key to the relations between our two countries starts by understanding our approach to the Syrian issue. So you have to stop giving [the Syrian regime] political support, especially at the UN Security Council, as well as military and economic support. And we guarantee you that Russia’s interests in Syria and on the Mediterranean coast will not be affected one bit. In the future, Syria will be ruled by a moderate and democratic regime that will be directly sponsored by us and that will have an interest in understanding Russia's interests and role in the region.”
Russia’s intransigence is to Iran’s benefit
Bandar also presented Saudi Arabia’s views about Iran’s role in the region, especially in Iraq, Syria, Lebanon, Palestine, Yemen, Bahrain and other countries. He said he hoped that the Russians would understand that Russia's interests and the interests of the Gulf states are one in the face of Iranian greed and nuclear challenge.
Putin gave his country’s position on the Arab Spring developments, especially about what has happened in Libya, saying, “We are very concerned about Egypt. And we understand what the Egyptian army is doing. But we are very cautious in approaching what’s happening because we are afraid that things may slide toward an Egyptian civil war, which would be too costly for the Egyptians, the Arabs and the international community. I wanted to do a brief visit to Egypt. And the matter is still under discussion.”
Regarding Iran, Putin said to Bandar that Iran is a neighbor, that Russia and Iran are bound by relations that go back centuries, and that there are common and tangled interests between them. Putin said, “We support the Iranian quest to obtain nuclear fuel for peaceful purposes. And we helped them develop their facilities in this direction. Of course, we will resume negotiations with them as part of the 5P+1 group. I will meet with President Hassan Rouhani on the sidelines of the Central Asia summit and we will discuss a lot of bilateral, regional and international issues. We will inform him that Russia is completely opposed to the UN Security Council imposing new sanctions on Iran. We believe that the sanctions imposed against Iran and Iranians are unfair and that we will not repeat the experience again.”
Erdogan to visit Moscow in September
Regarding the Turkish issue, Putin spoke of his friendship with Turkish Prime Minister Recep Tayyip Erdogan; “Turkey is also a neighboring country with which we have common interests. We are keen to develop our relations in various fields. During the Russian-Turkish meeting, we scrutinized the issues on which we agree and disagree. We found out that we have more converging than diverging views. I have already informed the Turks, and I will reiterate my stance before my friend Erdogan, that what is happening in Syria necessitates a different approach on their part. Turkey will not be immune to Syria’s bloodbath. The Turks ought to be more eager to find a political settlement to the Syrian crisis. We are certain that the political settlement in Syria is inevitable, and therefore they ought to reduce the extent of damage. Our disagreement with them on the Syrian issue does not undermine other understandings between us at the level of economic and investment cooperation. We have recently informed them that we are ready to cooperate with them to build two nuclear reactors. This issue will be on the agenda of the Turkish prime minister during his visit to Moscow in September.”
Putin: Our stance on Assad will not change
Regarding the Syrian issue, the Russian president responded to Bandar, saying, “Our stance on Assad will never change. We believe that the Syrian regime is the best speaker on behalf of the Syrian people, and not those liver eaters. During the Geneva I Conference, we agreed with the Americans on a package of understandings, and they agreed that the Syrian regime will be part of any settlement. Later on, they decided to renege on Geneva I. In all meetings of Russian and American experts, we reiterated our position. In his upcoming meeting with his American counterpart John Kerry, Russian Foreign Minister Sergey Lavrov will stress the importance of making every possible effort to rapidly reach a political settlement to the Syrian crisis so as to prevent further bloodshed.”
As soon as Putin finished his speech, Prince Bandar warned that in light of the course of the talks, things were likely to intensify, especially in the Syrian arena, although he appreciated the Russians’ understanding of Saudi Arabia’s position on Egypt and their readiness to support the Egyptian army despite their fears for Egypt's future.
The head of the Saudi intelligence services said that the dispute over the approach to the Syrian issue leads to the conclusion that “there is no escape from the military option, because it is the only currently available choice given that the political settlement ended in stalemate. We believe that the Geneva II Conference will be very difficult in light of this raging situation.
At the end of the meeting, the Russian and Saudi sides agreed to continue talks, provided that the current meeting remained under wraps. This was before one of the two sides leaked it via the Russian press.”
This article was first published in Arabic on 8/22/2013. Read original article.

Russia may reinforce naval grouping in Mediterranean

nterfax News (IFAX) @IFAXnews Russia may reinforce naval grouping in Mediterranean in response to U.S. buildup - expert http://bit.ly/18aZtMy #Russia #interfax #news 9:24 AM - 24 Aug 2013

Monday, August 19, 2013

Putin acts in support of Egyptian military

« Breaking News » DEBKAfile August 17, 2013, 6:54 PM (GMT+02:00) Russian President Vladimir Putin called an extraordinary session at the Kremlin Saturday to “discuss the situation in Egypt and take the necessary steps to the put Russian military facilities at the Egyptian military's disposal,” said an announcement in Moscow, without elaborating. Putin said further that “Russia will arrange for joint military exercises with the Egyptian army.” DEBKAfile: Moscow’s steps directly conflict with Western condemnation of the Egyptian military’s crackdown on the Muslim Brotherhood. They were taken shortly after President Barack Obama cancelled a joint military exercise with Egypt as a mark of US disapproval.

Friday, August 16, 2013

Thursday, August 15, 2013

Foreign interests in Egypt: 'UK, US, and Qatar might be behind the violent clashes' - expert

Christof Lehmann
"[...] I think it can be peacefully saved because the Egyptian military is quite self-confident and quite defiant against the US. The US has tried to stab the Egyptian people in the back with the Muslim Brotherhood. "

Thursday, August 1, 2013


CBOE Interest Rate 10-Year T-No (^TNX) -Chicago Options

 2.7230 Up 0.13(5.01%) 3:37PM EDT

Sunday, July 14, 2013

SYRIA disinformation

Ziad Fadel on his blog:
" I just got off the phone with a friend in Latakia. He says no attack on any military base or arsenal took place in rural Latakia. He also says that Syria does not store its missiles in warehouses just so the Zionists can simply bomb them. Our missiles. Yakhonts, S-300s and Scuds are hidden underground or in caves along the coast of Syria. The entire story is bound to be exposed soon. Interestingly, the only sources publishing anything about this are the "usual suspects" or the "usual gang of idiots": Reuters, AP and the NYT. Needless to say, all sources quoted are "anonymous". What a joke"

Friday, July 5, 2013

Thursday, June 27, 2013

Russian Defense Ministry denies reports on military withdrawal from Syrian Tartus

Voice of Russia
"Today, Russian Ministry of Defence asserted that the previous reports on the withdrawal of Russian personnel from the state's military base in Syrian Tartus are false. "Yesterday's media reports on the withdrawal of Russian personnel from the Syrian port of Tartus are completely untrue," the Defense Ministry said in an official statement today. Wednesday noon numerous news orgs reported that Russia has withdrawn its military personnel from Syria, leaving its strategic military center of Tartus, due to the increasing security threats in the country. AFP reported there were no Russian troops or civilian personnel in Syria. "

Monday, June 24, 2013

Bank Of China Declares Moratorium On Transfers, Online Banking; Counters Inoperable

"Following the ICBC, the Bank of China also go awryagain. This morning, the Bank of China Bank of transfer moratorium, online banking, counters are inoperable."
"Update: Customer service said, now silver futures transfer service has been fully suspended, online banking, the counter can not be handled, and now has the background system response, recovery time is not yet known"

CHINA market plunge

1,963.24 -109.86 (-5.30%) Jun 24 - Close
Shanghai market:"Following yesterday's unprecedented formal announcement of epic capital misallocation, the PBOC tried to continue the damage control when a few hours ago it announced that Chinese banking system liquidity "is at a reasonable level", but that banks must control liquidity risks from fast capital expansion, especially credit expansion, according to a statement on management of banks’ liquidity on website. The implication: no easing any time soon, and sure enough no repo or reverse repo activity was logged in the overnight session meaning Chinese banks, for the time being, continue to be on their own, without any hope of the central bank stepping in to bail them out."

Thursday, June 20, 2013

French against arming Syrian militants: Poll

Some 61 percent of respondents to an opinion poll in France have opposed sending military aid to militants fighting against the government of Syrian President Bashar al-Assad.

Tuesday, June 18, 2013


"The marches began this month with an isolated protest in Sao Paulo against a small increase in bus and subway fares. The demonstrations initially drew the scorn of many middle-class Brazilians after protesters vandalized storefronts, subway stations and buses on one of the city's main avenues. The movement quickly gained support and spread to other cities as police used heavy-handed tactics to quell the demonstrations. The biggest crackdown happened on Thursday in Sao Paulo when police fired rubber bullets and tear gas in clashes that injured more than 100 people, including 15 journalists, some of whom said they were deliberately targeted. Other common grievances at Monday's marches included corruption and the inadequate and overcrowded public transportation networks that Brazilians cope with daily. POLICE SHOW RESTRAINT The harsh police reaction to last week's protests touched a nerve in Brazil, which endured two decades of political repression under a military dictatorship that ended in 1985."

Tuesday, June 11, 2013

Picture from Turkey protest

Protesters in Istanbul find refuge in Divan Hotel
"140journos 140journos 6h 3:25, # Istanbul # Taksim in the infirmary and the demonstrators Divan Hotel accommodation for the area has transformed many times. pic.twitter.com/guU8OlVUIa Details Reply Retweet Favorite Original text "

Monday, June 10, 2013

Turkey protests continue Erdogan losing support

Christof Lehmann (nsnbc)
"Protests in Turkey with demands that the Erdogan Administration and President Abdullah Gül step down are entering the second week. The Erdogan administration is severely weakened as even ardent supporters begin questioning his authoritarian leadership style and his attempt to rewrite Turkish history.
On Saturday, thousands of protesters in Ankara rallied in Kugulu Park. At about 21.00 protesters marched toward Kizilay Square where an estimated 50.000 protesters were attacked by police forces with water cannons, teargas and batons once more. It seems however, that the brutal, confrontational course chosen by Erdogan is not having the effect he may want to achieve. The clashes between police and protesters raged on for four full hours.
Also at about 21.00 o´clock about 20.000 people rallied in the Batikent district of Ankara and protests were reported from several other districts in the city. The strategy of disseminating protests into several districts is stressing the police forces and it becomes increasingly difficult for the police to crack down. As soon as a crowd is dispersed in one region, another protest flares up somewhere else, overwhelming the police´s ability to respond in a coordinated manner. Protests also continued in Istanbul."

Tuesday, May 28, 2013

Russia bolsters Syria defence

Russia to send Anti-aircraft missiles to defend Syria
"[2011.12.2]Russia’s Interfax news agency reported that Moscow has delivered the first P-800 Yakhont missiles to the regime of Syrian President Bashar Assad. Interfax, quoting Russian military sources, said Yakhont was supplied to the Syrian Navy as part of the Russian-origin Bastion coastal defense system."

Monday, May 27, 2013

Tuesday, May 7, 2013

Truth-speaking on Social Security (US)

Bruce Crasting, Zerohedge contributor:
"- The date of exhaustion of the OASDI [Old age, survivor and disability insurance] TF[trust fund] will be shortened by 2 years to 2031. This means that anyone 47 or younger is paying "full price" for a benefit that will be worth only 75 cents on the dollar. That is how the law is currently written; I keep wondering when younger workers will wake up to the realities of what they are paying for."
"- The "drop-dead" date for the Disability Fund will be revised to the 4th quarter of 2015. In 30 months all DI benefits will be cut by 30%. Again, that is current law."
"The reality is that the Baby-Boomers did not "save" enough to cover their cost. The Boomers will come up 'short' by at least $1T. The day that they will be hitting the principal of that 'savings' is coming 5 years sooner than hoped for."

Wednesday, April 17, 2013


“People Running Through The Gate” To Buy Gold Bullion
Very significant demand is being seen throughout the world for physical bullion – in Japan, India, Australia, the U.S., Europe and elsewhere. The speculative raid by one or two banks which led to the price crash is being seen as a gift by eager buyers internationally.

Tuesday, April 2, 2013


"An unstoppable sequence of events has been put into motion finally. The pressure has been building for months. Some themes are plainly evident, except to those who wear rose colored glasses in the US Dome of Perception. The USTreasury Bond will be brought home to the US and British banks, where it will choke its bankers, then be devalued for survival reasons, after a painful isolation."

Monday, March 18, 2013

Cyprus updates[


CYPRUS: Prostestors rip down German flag at embassy

EXTRA: Cyprus protester rips down German flag at embassy Europe18.03.2013
"Nicosia (dpa) - An angry demonstrator in Cyprus on Monday ripped the German flag off its staff at the embassy in Nicosia and threw it onto the street, witnesses said. The man had emerged from among a crowd of about 400 protesters against new bank deposit levies demanded by international creditors as part of a bailout package. The protesters, carrying placards that read "No democracy," blamed Germany, the biggest EU economy and main paymaster, for the demand. A police officer picked up the flag and took it into the embassy. No diplomatic staff could be reached by phone. The demonstrators had first rallied outside parliament, where politicians were discussing the controversial measure, then moved to the presidential palace and the nearby embassy."

Sunday, March 17, 2013

Korea accumulating gold

The central banks of South Korea, Russia and Kazakhstan have all reported additions to their gold reserves this year, continuing the trend of central bank gold buying. Data for January show that Russia and Kazakhstan have each increased gold purchases for the fourth consecutive month. The Bank of Korea issued a statement saying that it has purchased 20 metric tons of gold - more than 643,000 troy ounces - during February, increasing its gold reserves by 24% to 104.4 metric tons.

Saturday, March 16, 2013



Cypriots rush to banks in wake of bailout levy
Depositors money used for bank bailout
Following a bank holiday in the country on Monday, March 18, the levy on bank deposits will come into force on Tuesday, March 19. The Cypriot government will take steps to prevent electronic money transfers over the weekend, in order to stop depositors attempting to avoid the curbs.


Gold moving east:
"The new Gold Trade Finance system is coming into view. The Iran sanctions galvanized the development of alternative methods for non-USDollar trade settlement among Eastern nations. Iran has many trade partners, a situation that has remained firm for a few thousand years. As Turkey and India continue to step forward as gold intermediary agents, with banks and commercial entities providing the service, watch the Gold Trade flourish. Their channels could very likely converge with the numerous Chinese Yuan Swap facilities in place, which started the non-US$ trade practice years ago. Gold will sit at the core (along with Silver and Platinum) in the gold trade notes and settlement system."

Tuesday, March 5, 2013


Argentina declares three-day national mourning upon Chávez's death
Venezuela Stable after Chavez's Death, Election to be Called within 30 Days
"The situation in Venezuela remained stable Tuesday following the death of President Hugo Chavez though his grieving supporters took to the streets, chanting slogans in memory of the socialist leader. Earlier in the day, Vice President Nicolas Maduro, accompanied by key members of cabinet, announced the death of Chavez, who had battled with cancer for almost two years. Maduro referred to the leader's death as a "historical tragedy" and called on Venezuelans to be vigilant for the peace of the country. "

Monday, March 4, 2013

Bulgaria protests, too

"Waves of protests swept Bulgarian cities again on Sunday, as tens of thousands took to the streets despite the government’s resignation. Bulgarians demanded the ‘mafia’ to leave, but it wasn’t clear who could unite them as the country’s new leader. Anti-government slogans and demands to end monopoly powers were again in evidence on the streets of Bulgaria following the government’s failed attempts to negotiate with the public and its eventual resignation last Wednesday. Bulgarian cities of Sofia, Plovdiv, Burgas, Blagoevgrad, Ruse, Sliven and Varna saw crowds of people protesting against the corruption, poverty and high energy prices that consume their wages. The largest demonstration took place in the Black Sea city of Varna, with about 50,000 people taking part, according to the local media."

Sunday, March 3, 2013

Portugal protest against austerity

Hundreds of thousands march against austerity in Portugal AFP-"Hundreds of thousands of people took to the streets of Lisbon and other Portuguese cities Saturday to protest against the government's austerity measures aimed at rescuing the debt-hit eurozone nation. The rallies were organised by a non-political movement which claimed 500,000 marched in the country's capital and another 400,000 in the main northern city of Porto. There have been no official estimates of the crowds. But the mood of the crowd was clearly political, calling for new elections with banners declaring "Portugal to the polls!" and "If you fall asleep in a democracy, you wake up in a dictatorship"."

Saturday, March 2, 2013

Thursday, February 28, 2013



Mexico's audit office says Bank of Mexico should verify gold held at Bank of England

"Mexican financial journalist and agitator for accountability in government Guillermo Barba reports today thatthe Mexican government audit office has reprimanded the Bank of Mexico for failing to verify its supposed purchase of $4.5 billion of gold vaulted at the Bank of England. The audit office confirms Barba's complaint last year that the Bank of Mexico had purchased only "paper gold" at the Bank of England and had no idea of the number of bars it had supposedly purchased, nor of the purity of the bars. Barba writes that the audit office has recommended that the Bank of Mexico "make a physical inspection with the counterparty that has the gold under its custody, in order to be able to verify and validate its physical wholeness and the compliance with the terms and conditions of dealing with this asset."

Tuesday, February 26, 2013


CASH GRAB: Inactive bank accounts to be seized
"After legislation was rushed through parliament, the government will from May 31 be able to transfer all money from accounts that have not been used for three years into their own revenues. This will mean that accounts with anything from $1 upwards that have not had any deposit or withdrawals in the past three years will be transferred to the Australian Securities and Investment Commission. "

Monday, February 11, 2013


"After Venezuela sent shockwaves throughout the gold market in the summer of 2011 by repatriating all 110 tons of their gold reserves from NY and London,Venezuela has just sent just as large of shockwaves throughout the escalating global currency wars, announcing a devaluation of the Bolivar by 46% Friday!"

Thursday, January 24, 2013

[UPDATE: Not confirmed ]BREAKING: Possible attack on Iran nuclear facility

Thursday, January 24, 2013 18:58
"An explosion deep within Iran’s Fordow nuclear facility has destroyed much of the installation and trapped about 240 personnel deep underground, according to a former intelligence officer of the Islamic regime."

Monday, January 21, 2013

Azerbaijan repatriates gold

Baku, Fineko/abc.az.
The State Oil Fund of Azerbaijan (SOFAZ) has placed today the first ton of physical gold in the safety vaults of the Central Bank in Baku, purchased at the London Stock Exchange of Precious Metals (LBMA) within the SOFAZ investment policy.
According to the Fund, today British company Brink’s Global Services delivered from London to Baku and placed 1 ton (32,150 ounces) of gold owned by SOFAZ in the CBA vaults.
The Oil Fund has been acquiring physical gold since February 2012 in batches of 10,000 ounces a week.
Referred by silverdoctors.com

Monday, January 14, 2013

Friday, January 11, 2013

American Express job cuts

Thu Jan 10, 2013 8:00pm EST(Reuters) - Credit card company American Express Co said it would cut about 5,400 jobs, or 8.5 percent of its workforce, as it restructures its business and pay legal bills.