China
is assumed to make some dramatic changes this October.
As
the IMF is to meet and discuss its Special Drawing Rights (SDR)
currency basket, the Chinese Yuan may substitute dollar as a reserve
currency.
Thus,
China may become not only the world's largest economy, but a super
power of the 21st century.
The
Chinese President Hu Jintao has already declared the dollar being a
product of the past.
China
along with Russia has been accumulating gold in large quantity. China
though is both the world's largest gold producer and biggest
importer. So, they are not only hoarding gold by the truck load, but
not one ounce produced is leaving their shore.
The
times of dollar being backed with gold are also in the past. Today,
it is backed by absolutely nothing.
In
addition to their physical gold holdings, the Chinese have been using
a secret 7,000 year-old gold accumulation strategy.
In
2013, asset purchases by Hong Kong and Chinese mainland miners
increased to a record $2.2 billion. The physical bullion stockpile
has likely tripled since then, according to the analysts.
If
adding up all the Chinese deposits, including offshore, this could be
upwards of 5,000 metric tons. And that is just one year of record
mine buying from China.
China
may disclose those gold holdings ahead of the IMF's decision this
October and prove that it is more trustworthy than the US dollar
More
than 50,000 anti-austerity protesters in London marched outside the
BBC and Parliament Square today but the BBC refuses to cover them.
Comedian Russell Brand addressed the crowd: "Austerity means keeping all the money among people who have loads of it. This is the biggest problem we face today--all other problems radiate from this toxic swindle. We can organise a fairer, more just society than they can. These demonstrations are the start."
Brand said the group will hold the biggest protest in British history later this year, "Soon we will reach a size and influence where neither the BBC nor this austerity Government will be able to ignore us."
A US-led military exercise encompassing troops and vehicles from 13 nations has kicked off in Germany's Hohenfels training area, at a time when NATO forces are holding wave after wave of similar drills.
The new war games are a part of the Combined Resolve IV series of exercises, which started May 1 and are set to last until June 26. It is a biannual event in which the US army units stationed in Europe train to act together with their European allies and familiarize the newly-rotated units with the multinational environment.
The new war games are a part of the Combined Resolve IV series of exercises, which started May 1 and are set to last until June 26. It is a biannual event in which the US army units stationed in Europe train to act together with their European allies and familiarize the newly-rotated units with the multinational environment.
China's
navy warned a US surveillance plane flying over man-made islands that
Beijing is building in the disputed South China Sea to leave the area
multiple times, according to a TV crew aboard the flight on
Wednesday.
A
Chinese naval vessel issued eight warnings to a P8-A Poseidon, in an
apparent effort to establish a no-fly zone near the artificial
islands, CNN reported. When US pilots said they were flying through
international airspace, a Chinese radio operator responded: "This
is the Chinese navy … you go!"
From Ambrose Evans-Pritchard
EMU
creditors have Greece's Alexis Tsipras by the scruff of the neck, but
he has a knife to their throats
Hysteria
over imaginary Russian invasion continues in Sweden.
The
Swedish court has officially seized two key domains owned by
notorious illegal BitTorrent file-sharing website Pirate Bay, but
just like the mythical Greek monster Hydra, the website has spawned
six more domains.
The
decision was made by the Stockholm District Court on 19 May and
follows the continued campaign by Swedish prosecutor Frank Ingblad to
bring down the Pirate Bay.
Israel
has preannounced its intent to inflict heavy civilian casualties the
next time it bombs southern Lebanon, already claiming that Hezbollah
will be at fault because its forces are enmeshed with the population,
a remarkable public admission, says Jonathan Marshall.
From Robert Parry
Special
Report: The odd-couple relationship between Saudi Arabia and Israel
may have been sealed with more than a mutual desire to kiss-off Iran.
According to an intelligence source, there was a dowry involved, too,
with the Saudis reportedly giving Israel some $16 billion, writes
Robert Parry.
For
more than half a century, Saudi Arabia has tried to use its vast oil
wealth to build a lobby in the United States that could rival the
imposing Israel Lobby. At top dollar, the Saudis hired law firms and
PR specialists – and exploited personal connections to powerful
families like the Bushes – but the Saudis never could build the
kind of grassroots political organization that has given Israel and
its American backers such extraordinary clout.
There
is increasing concern about potential outside influence involved in
recent political demonstrations in Macedonia following reports that
students were offered up to $1,500 by an activist group to come up
with the best ideas on how to protest against the country's
government.
Former
US Undersecretary of State for Arms Control and International
Security Robert Joseph claims that Putin is right to follow a policy
of peace through maintaining military strength, and the United States
should follow his example
Once
again, probably for a hundredth time we hear that Putin will betray
someone. They said, he will betray Novorossia, but this has not
happened, then the same tune was heard about Syria. Generally
speaking, it's not news about Syria at all. These talks hasn't
stopped, but each time nothing happens.
It's
time to once and for all clarify whether he will or will not betray
them and if the Americans will start bombing Syria. So far we have
said that bombing Assad is impossible, now, we're ready to say more
and reveal the cards of what we believe will happen in Syria.
In
exactly a month, Ukraine will owe Russia a $75 million debt coupon
payment. Finance
Minister Anton Siluanov told reporters in Moscow today that "if
they miss the payment, we will use our right to go to court."
Then it got serious, as Vladimir Putin instructed Russian Prime
Minister Dmitry Medvedev to assume control of Ukraine's repayment of
its $3-billion debt in Eurobonds that Russia bought in 2013, slamming
Ukraine's bill allowing them to impose a moratorium
on foreign debt repayments as a de facto announcement of default.
As one market participant warned, "I
would wait until after June 20 to go forward with" any
moratorium, as "if Russia takes Ukraine to court, that might be
an incentive for other creditors to go down the same route."
Experts
fear the jihadists could destroy Palmyra, a 2,00o-year-old
"iconoclast's heaven."
On
Wednesday, militants from the so-called Islamic State captured the
ancient Syrian city of Palmyra. After nearly a week of fighting,
government forces reportedly fled the city, according to the British
monitoring group Syrian Observatory for Human Rights. Palmyra, a
desert outpost of 50,000 people, sits on a strategic highway and is
close to several gas fields that ISIS has repeatedly attacked. It's
also a magnificent UNESCO World Heritage site known for its
2,000-year-old, Roman-era tombs, temple, colonnades, and artifacts,
as well as a storied mythology.
Just
hours after ISIS scored a significant victory in Iraq when
it captured the town of Ramadi over the weekend, the
first Iraqi town that had been actively defended by the US as opposed
to just Iraqi troops, overnight ISIS also captured the ancient
Syrian town of Palmyra,
which the mainstream media promptly concludes was proof that the
Islamic State's momentum was growing.
Around
a third of the 200,000 people living in Palmyra may have fled in the
past few days during fighting between government forces and Islamic
State militants, the U.N. human rights office said on Thursday.
That's not all: according to Reuters, "extending its reach in the region, fighters loyal to the Sunni Muslim group have also consolidated their grip on the Libyan city of Sirte, hometown of former leader Muammar Gaddafi.
"ISIL has reportedly been carrying out door-to-door searches in the city, looking for people affiliated with the government. At least 14 civilians are reported to have been executed by ISIL in Palmyra this week," Shamdasani said in emailed comments.
The
capture of Palmyra according to the known UK propaganda outlet and
distributor of fabricated "chemical attack" tapes,
the Syrian
Observatory for Human Rights,
which is really just one guy, Abdul Rahman of Coventry, means that
ISIS "now
controls more than half of Syrian territory."
Not
really, no.
If
Israel tries to attack Iran, Tehran will raze Tel-Aviv to the ground,
a top Iranian general said.
Intelligence
agencies of the United States and Israel are responsible for causing
political unrest in the Middle East, said top Iranian Major General
Yahya Rahim Safavi, according to the Islamic Republic News Agency
(IRNA).
Moscow
and Baghdad have been expanding military cooperation, President
Vladimir Putin said, and Russia is ready to supply weapons to Iraq to
aid the fight against Islamic State militants’ advance in the
region, said Russia’s FM Sergey Lavrov.
A
gauge of Chinese manufacturing remains sluggish in May, underscoring
the tepid response to government efforts to cushion a slowdown in the
world's second-largest economy.
The
preliminary Purchasing Managers' Index from HSBC Holdings and Markit
Economics was at 49.1, missing the median estimate of 49.3 in a
Bloomberg survey. Numbers below 50 indicate contraction.
The
government has escalated efforts to prevent a hard landing, adding
fiscal loosening to monetary easing. In the latest moves, it relaxed
financing rules for local governments in a bid to boost demand for
credit, while three interest rate cuts since November aim to lower
borrowing costs.
According
to The China People's Daily, Indonesia has just sank a large Chinese
vessel and 40 other foreign ships caught fishing in The South China
Sea. AP confirms that Indonesian authorities blew up and sank the 41
vessels... which seems like something that might just lead to some
serious escalation if true...
Republican
Rand Paul steps down after more than 10 hours in bid to halt the
federal government’s collection of its citizens’ phone records
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