Category: Gold / Silver / Legal Tender


 NZ signs historic currency deal with China.

By Adam Bennett

Photo / New Zealand Herald

Photo / New Zealand Herald

New Zealand’s economic ties with China have been strengthened with a deal to allow direct trading of the New Zealand dollar against the Chinese currency the renminbi or yuan.

The deal, struck relatively swiftly negotiations began in April last year, will reduce costs for exporters and importers by removing the necessity for transactions to be settled in two foreign exchange trades via a third currency – usually the US dollar.

Prime Minister John Key and China’s Premier Li Keqiang announced the agreement after meeting at the Great Hall of the People during Key’s first day of an official visit to China this evening.

“It’s great to have been in Beijing to witness the conclusion of negotiations to launch direct trading of the New Zealand and Chinese currencies, which I kicked off during talks with President Xi on the margins of the Bo’ao Forum in April 2013″, Key said.

“I am delighted that the project has been brought to a successful conclusion so quickly.

It highlights the strong relationship and goodwill between New Zealand and China.”

Key said the agreement “will make doing business with China easier by reducing the costs of converting between the two currencies, and will stimulate trade and investment”.

“Direct trading will also increase the integration between the New Zealand and Chinese financial systems, and deepen the economic relationship between the two countries.”

Read More Here

Enhanced by Zemanta
About these ads

Gold Theft by Central Bankers
Courtesy of silverdoctors.com

A few weeks ago, evidence was discovered that Saudi Arabia’s gold holdings in London were being stolen by central banks in the West and re-hypothicated without the Arab kingdom’s permission. However, this confiscation doesn’t appear to be only theft in play as just weeks after the Western led coup helped overthrow the rightfully elected Ukrainian leader, rumors are coming out of Kiev on March 10 that show planes being loaded with what is believed to be Ukrainian gold, and flown back to either the U.S. or London for an unknown purpose.

As our site workers airport “Borispol”, this night in 2-00, with the designated airport runway started unregistered transport plane … According to the staff “Boryspil”, before it came to the airport four collector car and two cargo minibus Volkswagen, while , all arriving truck license plate missing. Car pulled out of about fifteen people in black uniforms, masks and body armor. Some of them were armed with machine guns. These people have downloaded the plane more than forty heavy boxes … After that, some mysterious men arrived too entered the plane.

Later, in Received call back one of the senior officials of the former Ministry of income and fees, which reported that, according to him, tonight, on the orders of one of the “new leaders” of Ukraine in the United States has been taken all the gold reserves in Ukraine … – Zerohedge

Read More Here

 

…..

The Truthseeker.

Federal Reserve Refuses to Submit to an Audit of Germany’s Gold Held in U.S. Vaults

Dr. Long Xinming — nsnbc April 18, 2013

The German government has been storing about half of its gold supply with the US FED, apparently in the NYC FED vaults. Germany decided to bring home all its gold, but the FED has said that isn’t possible to do, and it would need until 2020 to be able to accomplish the transfer.

 

The German government then asked to visit the FED vaults to inventory the gold and determine its actual existence, but the FED refused to permit Germany to examine its own gold. The reasons given were “security” and “no room for visitors”. And nothing else.

 

Germany did finally send some staff to the FED, and they were permitted only into the vault’s anteroom where they were shown 5 or 6 gold bars as representative of their holdings, and were permitted nothing else.

 

They apparently came a second time, and the FED did open only one of 9 rooms and let the Germans look at the stack of gold, but were not permitted to either enter or touch. And they returned home.

 

There has been speculation for a long time, that the FED doesn’t actually have much gold, that it has either sold it off, lent it out, or used it as collateral for borrowings. Either case, there are many claims that the gold that is being stored on behalf of many nations, doesn’t actually exist.

 

And nobody, other than FED staff, have actually been permitted inside the vaults to see or inventory any of the gold. There is no evidence that the gold actually exists, other than the word of the FED.

 

Even more, the situation is the same with the supposed gold depository at Fort Knox. Nobody has seen the gold there for a very long time.

 

The last audit, and the last public visit, was in 1953, just after U.S. President Dwight Eisenhower took office. No outside experts were allowed during that audit, and the audit team tested only about 5% of gold there. So, there hasn’t been a comprehensive audit of Fort Knox in over 60 years.

 

In 1974 six Congressmen, one Senator and the press were allowed to enter Fort Knox to see for themselves if the gold was there or not. The tour showed that there was gold in Fort Knox but, all the same, it sparked even more controversies.

 

Only a small fraction of the gold reserves were made available for viewing, and one Congressman published a report saying that the gold bars held in the fort may have been less heavy than would have been expected.

 

During the past two years, several US politicians have claimed that there is a high chance that neither Fort Knox nor the FED have any gold, or perhaps only a very small amount, and have demanded a full and public inventory and testing, but the FED have resolutely refused.

 

I have no idea what to make of this. There was another incident last year when Goldman Sachs were proven to have been selling gold certificates to the public, ostensibly backed by real gold in their vaults, but the story leaked out that they in fact held no gold at all, and were doing “fractional reserve” gold banking, on the basis that few people would want to claim their gold at any one time.

 

Even worse, Goldman were charging customers storage fees for the gold that didn’t exist. Also, do you recall the information I circulated around the middle of last year, documenting the immense gold theft the FED pulled on much of the world during WW II?

 

 

Read More Here

…..

Enhanced by Zemanta

End of the Petro Dollar

Courtesy of oil-price.net

On March 6, Congress passed overwhelmingly, at the behest of the Obama Administration. new economic sanctions on Russia for their intervention in the Crimean region of Ukraine. In doing so, President Obama has now placed the dollar and entire Treasury reserve structure at risk, and as Dr. Jim Willie noted yesterday, has brought America to the brink of its ‘Waterloo’.

If the Kremlin demands Gold bullion (or even Russian Rubles) for oil payments, then the interventions to subvert the Ruble currency by the London and Wall Street houses will backfire and blow up in the bankster faces. Expect any surplus Rubles would be converted quickly to Gold bullion. If the Chinese demand that they are permitted to pay for oil shipments in Yuan currency, then the entire Petro-Dollar platform will be subjected to sledge hammers and wrecking balls. The new Petro-Yuan defacto standard will have been launched from the Shanghai outpost. If the Saudis curry favor to the Russians and Chinese by accepting non-USDollar payments for oil shipments, then the Petro-Dollar is dead and buried. The rise of the Nat Gas Coop run by Gazprom is in progress, its gas pipelines to strangle the OPEC and its bastard Petro-Dollar child. The entire USDollar foundation with the USTreasury Bond bank reserve structure is at risk is collapsing, as consequence to the desperate adventure and criminal activity conducted in Ukraine. – Silver Doctors

Read More Here

Enhanced by Zemanta

Greg Hunter

Published on Feb 11, 2014

http://usawatchdog.com/united-states-… – Can we pull the world out of this economic calamity? Former World Bank Attorney Karen Hudes says, “It may be that we don’t, in which case, we end up in what happened just before we went into the dark ages, when gold went into hiding . . . . We can bring this gold that belongs to humanity out of its cloak of secrecy and out of hiding or we can go back into the dark ages. And we can have pestilence and starvation. . . . Civilization breaks down. We cannot pay for our international trade. Either we take back our gold, our legality, and we tell this group that thinks it’s above the law that it is not above the law, or we can kiss ourselves goodbye. Humanity will not continue, we will have World War III. Join Greg Hunter as he goes One-on-One with former World Bank Attorney Karen Hudes.

…..

YOU MUST SEE THIS!: Karen Hudes World Bank Whistleblower

firstflyover

Published on Aug 29, 2013

“Mr. Chambers! Don’t get on that ship! The rest of the book, “To Serve Man”, it’s – it’s a cookbook!” The Twilight Zone.

This is Greg Hunter’s interview with Karen Hudes. She is a World Bank whistleblower.
If you like Mr. Hunter’s work please sub to his channel. Link below. Peace!
http://www.youtube.com/user/usawatchd…

Karen Hudes: We’re Running Out of Time! We’re Dealing with Whether We Can Continue as Humanity

…..

‘Dollar valueless, about to crash’ – World Bank whistleblower

RT

Published on Oct 8, 2013

The US government shutdown – a temporary ailment or a symptom of a grave disease? Are the Republicans right in their move to block Obamacare spending? Who gains from the shutdown turmoil? Do the politicians care about their citizens? Our guest comes from the very heart of the banking system: Karen Hudes was World Bank lawyer when she blew the whistle on major corruption cases in the system and was fired as a result.

For FULL TRANSCRIPT of the interview click here: http://on.rt.com/ue0xat

RT LIVE http://rt.com/on-air 

…..

Enhanced by Zemanta

Is a Major Gold Scandal Going Mainstream?

We noted in 2012 that there are serious questions as to whether the Fed and other central banks really have the gold holdings which they claim.

This story is starting to go mainstream.

The Financial Times writes today (h/t Zero Hedge):

A year ago the Bundesbank announced that it intended to repatriate 700 tons of Germany’s gold from Paris and New York. Although a couple of jumbo jets could have managed the transatlantic removal, it made security sense to ship the load in smaller consignments. Just how small, and over how long, has only just become apparent.

Last month Jens Weidmann, Bundesbank president, admitted that just 37 tons had arrived in Frankfurt. The original timescale, to complete the transfer by 2020, was leisurely enough, but at this rate it would take 20 years for a simple operation. Well, perhaps not so simple. While he awaits delivery, Herr Weidmann is welcome to come and look through the bars in the Federal Reserve’s vaults, but the question is: whose bars are they?

In the “armchair farmer” fraud you are told: “Look, this is your pig, in the sty.” It works until everyone wants physical delivery of their pig, which is why Buba’s move last year caused such a stir. After all nobody knows whether there are really 260m ounces of gold in Fort Knox, because the US government won’t let auditors inside.

Read More Here

…..

ZeroHedge

The FT Goes There: “Demand Physical Gold” As One Day Paper Price Manipulation Will End “Catastrophically”

What have we done: after a series of reports in late 2012 in which we showed, with no ambiguity, that not only might the Bundesbank’s offshore held gold be severely “diluted” (follow our 2012 exposes on German gold here, here, here, and here), but that on at least one occassion, the Fed and the Bank of England conspired against the Buba in returning subpar quality gold, the Bundesbank shocked everyone in early January 2013 when it announced it would repatriate 300 tons of gold helt in New York and all of its 374 tons of gold held in Paris. But convincing the Bundebsbank to demand delivery was peanuts compared to changing the tune of the Financial Times – that bastion of fiat “money”, and where the word gold is mocked and ridiculed, and those who see the daily improprieties in the gold market as nothing but “conspiracy theorists” – to say the magic words: “Learn from Buba and demand delivery for true price of gold”, adding that “one day the ties that bind this pixelated gold may break, with potentially catastrophic results.

In other words, precisely what we have been saying since the beginning.

Welcome to the ‘conspiracy theorist’ club, boys.

From the FT’s Neil Collins: “Learn from Buba and demand delivery for true price of gold: One day the ties that bind the actual and the traded commodity will snap:

A year ago the Bundesbank announced that it intended to repatriate 700 tons of Germany’s gold from Paris and New York. Although a couple of jumbo jets could have managed the transatlantic removal, it made security sense to ship the load in smaller consignments. Just how small, and over how long, has only just become apparent.

Read More Here

…..

Enhanced by Zemanta

IMF to revise upwards global growth forecast: Christine Lagarde

AFPJan 7, 2014, 10.34PM IST

(International Monetary…)

…..NAIROBI: The International Monetary Fund will revise upward its global growth forecast in about three weeks, Managing Director Christine Lagarde said Tuesday in Nairobi.

“We will be revising upwards the global forecast of the economic growth,” she told a press conference in the Kenyan capital, adding that it would be premature to say any more.

Lagarde, who was wrapping up a two-day visit to Kenya, gave no reason for the revision.

When it issued its latest World Economic Outlook report in October, the IMF lowered its forecasts, saying that global growth “remains in low gear”.

It said it expected the global economy to grow 2.9 percent year-on-year in 2013 and 3.6 percent in 2014. That represented a downward revision of 0.3 and 0.2 percentage points, respectively, from its July estimates.

Emerging-market economies, although still accounting for most global growth, were losing more momentum than previously thought, the IMF said in November, although advanced economies, in particular the United States, were showing signs of picking up.

Read More Here

…..

World Economic Forum chance to ‘push the reset button’ on global economy

The World Economic Forum is an an opportunity to “push the reset button” on the global economy and to seek solutions to fundamental issues, according to the body’s executive chairman. Speaking ahead of the next week’s gathering of world leaders and power brokers in the Swiss ski resort of Davos, Klaus Schwab said the world…

Watch Video Here

…..

Davos debates income inequality but still invites tax avoiders

The rich and powerful at the World Economic Forum are not as worried as they should be about the gap between rich and poor

World Economic Forum founder Klaus Schwab

Mind the gap: World Economic Forum founder Klaus Schwab has warned against the concentration of wealth in too few hands. Photograph: Fabrice Coffrini/AFP/Getty Images

Those on the outside might imagine that the business leaders who gather in Davos each year to chew the fat are concerned only about enriching themselves. Critics might imagine that the company bosses, jetting to the World Economic Forum 5,000 feet up in the Swiss Alps in their helicopters, mink-clad trophy wives in tow, are oblivious to the struggles of the poor. But they would be wrong.

As the rich and powerful make their last-minute preparations for their week up the magic mountain, they want the message to be sent out that they understand about inequality. They feel the pain. Truly they do.

The evidence for the “Davos gets it” line comes from the annual risk report compiled by the WEF. It asks 700 of its members what they think will be the most pressing threats to the global economy over the coming decade. Inequality is seen as the most likely risk.

Klaus Schwab, who created the Davos meeting in the 1970s, is pleased about that finding. As a good old-fashioned social democrat, he wants his members to take a history lesson and realise that capitalism cannot survive if income and wealth become concentrated in too few hands. For much of the 20th century, the more far-sighted business leaders realised this. They understood that their workers needed reasonable wages so that they could buy the goods and services they were making. They grasped the idea that a market system in its rawest form was incompatible with democracy and so acquiesced while some of the rough edges were knocked off via progressive taxation, welfare states and curbs on capital. Deep down, they feared that the Russian revolution would provide a template for disaffected workers in the west.

Attitudes have changed in the past 30 years. The so-called Great Compression of incomes seen from the 1930s to the 1970s went into reverse, with the top 1% grabbing the fruits of growth. The rich used their money and their influence to ensure that governments did their bidding. After the Berlin Wall came down, there was no rival model and less need to show restraint. With the arrival of a unipolar world came a return to a more aggressive form of market economics that had not been seen since the early days of industrialisation.

Read More Here

…..

World Economic Forum

…..

Enhanced by Zemanta

Be prepared: Wall Street advisor recommends guns, ammo for protection in collapse

 

By PAUL BEDARD | DECEMBER 26, 2013 AT 12:33 PM

 

 

 

A top financial advisor, worried that Obamacare, the NSA spying scandal and spiraling national debt is increasing the chances for a fiscal and social disaster, is recommending that Americans prepare a “bug-out bag” that includes food, a gun and ammo to help them stay alive.

 

David John Marotta, a Wall Street expert and financial advisor and Forbes contributor, said in a note to investors, “Firearms are the last item on the list, but they are on the list. There are some terrible people in this world. And you are safer when your trusted neighbors have firearms.”

 

His memo is part of a series addressing the potential for a “financial apocalypse.” His view, however, is that the problems plaguing the country won’t result in armageddon. “There is the possibility of a precipitous decline, although a long and drawn out malaise is much more likely,” said the Charlottesville, Va.-based president of Marotta Wealth Management.

 

Marotta said that many clients fear an end-of-the-world scenario. He doesn’t agree with that outcome, but does with much of what has people worried.

 

Read More Here

Enhanced by Zemanta

Many have used a pyramid to describe the power structure that the bulk of humanity is subject to – in even the smallest details of our lives. I would like to use it here to address the impending economic collapse, with an eye to explaining what might be going on behind the curtain – what is being hidden and why.

The vertical axis of the pyramid is often described as power, wealth, knowledge, etc. The shape of the pyramid describes the population distribution as measured by the vertical axis. The great bulk of humanity (us) inhabits the lower levels near the base, and the Controllers/Powers That Be/Elites inhabit the lofty levels near the peak.

Control of events at the macro level is administered from the top down by inducing divisions through particular areas in the pyramid. These divisions are made through the use of lies that are designed to achieve particular ends such as war, population reduction, strengthened control, wealth redistribution, etc, right down to plain misery and suffering of the masses.

© Unknown
Fractal pyramid of control

This pyramidal system of divisions works so well because, at the micro level, we are walking pyramids – telling lies to ourselves and others about the nature of our inner and outer realities. And in between the top and bottom there are all manner of corporations, organizations, states, and groups that take on this pyramidal structure. So pyramids fit within pyramids, while efforts to control and manipulate repeatedly divides people. As above, so below.

In general, most divisions that we can see clearly (sometimes well after the fact) are induced across the lower levels of the pyramid as history can attest (local wars, uprisings, protests, politics). The level in the pyramid at which such division originates may be low and motivated by some private interest gain. But on rare occasions a division is introduced vertically down the pyramid, affecting nearly all levels at the same time. One of these is coming in the form of the collapse of the US Dollar Reserve currency.

© Unknown

The US Dollar Reserve

Would the collapse of the US dollar come as a surprise? History tells us it shouldn’t. On its current trajectory, it seems destined to go the way every other fiat currency in history has gone – towards destruction and collapse. Money creation via debt issuance must be balanced with economic growth. As the debt burden increases, growth increase is required, and when this growth falters, so does the entire system unless the debt is expunged. So, the only questions for the Dollar are:

  • When will collapse happen?

and;

  • Is there a finger hovering above the “Destruct” button?

The difference this time around is that the whole world would be affected if and when a new currency Reserve is selected as a medium for the global balance of trade.

For many, the refusal of most to even consider what seems to me to be a fairly imminent and inevitable collapse, and prepare for its consequences, is an excellent example of normalcy bias – a form of wishful thinking that paralyzes rational thought processes. If yesterday was the same as the day before, then tomorrow will be the same as today.

The US Constitution clearly states that Congress shall coin money of gold and silver. So, what happened to the US dollar? Despite the best efforts of some good folks – among them past presidents – we ended up with a privately owned Central Bank, the Federal Reserve. Federal Reserve notes (paper currency) originally declared direct convertibility to gold, but this was lost to US citizens when gold was confiscated by FDR and revalued upward to $35 per ounce from $20.67, devaluing the dollar by 40% (and attracting much foreign gold into the country). After World War II, the Bretton Woods Agreement among nations established the US dollar as a World Reserve currency and provided for convertibility to gold for any nation’s positive trade balance held in dollars. But by 1971 the US gold stock had plummeted from 25,000 tons (at peak) to 8,000 tons. Then Nixon closed the gold convertibility window, and the entire Dollar Reserve system became nothing more than a paper promise (Ponzi pyramid).

Read More Here

…..
MOXNEWSd0tC0M MOXNEWSd0tC0M

Uploaded on Jan 2, 2012

January 01, 2012 C-SPAN
http://MOXNews.com

…..

Enhanced by Zemanta

Russian lawmaker seeks to ban US dollar, predicts 2017 collapse

Published time: November 13, 2013 19:53
Edited time: November 15, 2013 11:39

RIA Novosti / Mikhail Mordasov

RIA Novosti / Mikhail Mordasov

To protect Russians against the “collapsing US debt pyramid”, a Russian legislator has filed a draft bill to ban circulation of the currency in Russia.

Once a Moscow mayoral hopeful, Mikhail Degtyarev, 32, likens the US dollar to a worldwide ponzi scheme which he says is scheduled to end in 2017.

“If US national debt continues to grow at its current rate, the dollar system will collapse in 2017,” the submitted draft legislation says.

“In light of this, the fact that confidence in the US dollar is growing among Russian citizens is extremely dangerous,”  Degtyarev wrote in his explanatory note attached to the bill.

The bill would impose a ban on dollars within a year of its passage, and any private citizen holding accounts in dollars would either need to spend the money or convert it to another currency. There is no proposed ban on the euro, British pound, yen, or yuan.

If one doesn’t exchange or transfer dollars within a year, the dollars will be seized by officials, and reimbursed in rubles within 30 calendar days.

Under the proposed legislation, Russians would still be able to use dollars abroad and have foreign bank accounts, as well as buy goods on the Internet in dollars.

The Russian government, Central Bank, Foreign Ministry, Federal Treasury, Federal Security Service, and other state branches would be exempt from the law.

To protect Russian nationals, Degtyarev proposes to end dollar transactions and deposits at Russian banks, which would give rise to the ruble, and end dependence on the world’s dominant currency.

Part of the bill aims to restore the prestige of the ruble, which has weakened as the Russian economy battles inflation and slow growth.

Raising the prestige of the ruble by nixing foreign currency isn’t a novel idea- it was practiced during the Soviet Union when holding foreign currencies was illegal. A similar ‘anti-dollar’ proposal was filed by Duma deputies in 2003, but completely flopped.

Read More Here

……….

Russian lawmaker wants to outlaw U.S. dollar, calls it a Ponzi scheme

MOSCOW — Predicting the imminent collapse of the U.S. dollar, a Russian lawmaker submitted a bill to his country’s parliament Wednesday that would ban the use or possession of the American currency.

Mikhail Degtyarev, the lawmaker who proposed the bill, compared the dollar to a Ponzi scheme. He warned that the government would have to bail out Russians holding the U.S. currency if it collapses.

“If the U.S. national debt continues to grow, the collapse of the dollar system will take place in 2017,” said Mr. Degtyarev, a member of the nationalist Liberal Democrat Party who lost in Moscow’s recent mayoral election.

“The countries that will suffer the most will be those that have failed to wean themselves off their dependence on the dollar in time. In light of this, the fact that confidence in the dollar is growing among Russian citizens is extremely dangerous.”

Read More Here

……….

  Russia Seeks To Ban U.S. Dollar & Predicts Scheduled Collapse in 2017!

DAHBOO77

Published on Nov 15, 2013

Russian lawmakers are making moves to ban the Dollar to protect Russians from what they are calling a SCHEDULED COLLAPSE IN 2017!

http://theextinctionprotocol.wordpres…

Enhanced by Zemanta
Follow

Get every new post delivered to your Inbox.

Join 1,497 other followers