Monday, March 16, 2015

Gold Is A “Financial Nuclear Weapon”, China To Control The Gold Market | Alasdair MacLeod



IN THIS INTERVIEW:
– How will the change in London gold fix affect the physical gold market? ?0:18
– China to control the gold market ?6:43
– Gold is a “financial nuclear weapon” ?18:50
– Will the Euro currency survive? ?22:39
SUBSCRIBE (It’s FREE!) to our sponsor: Reluctant Preppers, “Helping You Be Aware and Prepared” ?http://bit.ly/ReluctantPreppers
SUBSCRIBE (also FREE!) to “Finance and Liberty” for more interviews and financial insight ?http://bit.ly/Subscription-Link
FINANCE AND LIBERTY:
Website ? http://FinanceAndLiberty.com
Like us on Facebook ?http://fb.com/FinanceAndLiberty
Follow us on Twitter ?http://twitter.com/Finance_Liberty
Google Plus ?http://Gplus.to/FinanceLiberty
Title and video graphics by Josiah Johnson Studios ?http://JosiahJohnsonStudios.com
Our sponsor Reluctant Preppers ?http://ReluctantPreppers.com
DISCLAIMER: The financial and political opinions expressed in this interview are those of the guest and not necessarily of “Finance and Liberty” or its staff. Opinions expressed in this video do not constitute personalized investment advice and should not be relied on for making investment decisions.

Currency Wars: In desperate move, SWIFT adds Russia to its board as a voting member

Source: The Daily Economist

Two days after China announced they were within months of implementing their own version of SWIFT to compete and perhaps overtake the U.S. dollar as the globally recognized reserve currency, the West does a U-Turn and has accepted Russia as a voting member of their financial messaging and interchange system.  This move on March 11 comes just months after the U.S. threatened the Eurasian oil giant with being locked out of SWIFT over the Ukraine conflict, and appears now to be an act of desperation as the dollar becomes less and less of a factor in global trade.


Share This Article...

Greece: what now?

By Moreno Pasquinelli
The arrogant outcry of many anti-euro people about a “great betrayal” concerning to the agreement signed by Tsipras government is irritating and risible.
They just take as valid the narration of pro-euro mass media which in their turn repeat and amplify the German version, that is intended to prove that the Greek government signed the terms of unilateral surrender. But it is not just that! It’s evident that they are so much blind with their conceit to point the finger at the victims and not at the torturers. The moral of the story is that, in their opinion, Euro-Germany scored a massive victory and, furthermore, the Greek matter would be closed, deleted.
Probably things are not like that.
It is a fact that the SYRIZA government, in return for some money that was urgently needed, undertook to effectuate most of the oppressive clauses of the old Memorandum enjoined by troika. But this is not all. SYRIZA also initiated emergency measures to help the lower classes which are the most touched by austerity policies.
Last but not least is the formal recovery of the national sovereignty which is, at least on paper, the end of the foreign protectorate regime.
Only those who know nothing about politics can underestimate the importance of these actions, considering that the only weapon that SYRIZA can use is the preservation of the broadest support of Greek citizens. The results of a recent survey, which was released by the most reliable opinion poll agencies, claim that the Tsipras government popularity has grown over 80%.
First question: what will happen in the following months if Greece is not able to honour the subscribed clauses? Such details are crucial. The agreement is, in fact, only theoretical for the moment. It will have to be put into practice and this progression involves several dangers. Using a sport metaphor we could state that the first leg was surely won by Germany. The rematch will take place in June or perhaps before, and its outcome is pretty hard to be forecast.
There’s a second question: what will happen in June if Greece discovers it didn’t win the complete trust of the markets and finds itself on the verge of default again, although it did its “homework” carefully? At that point the therapy imposed by the eurocratic synedrion would emerge as a flop once again and we would be back at square one. Can we really imagine that Tsipras, at that point, would go back to the German government asking with deference for a rollover, maybe with heavier terms, of the European “assistance”?
Or, instead, things could go in a very different way. The Greek government, after gaining time, could produce a “plan B”.
I don’t think that the SYRIZA leaders, although they support Europeanism (we have to remember that the old SYNASPISMOS, the actual executive core of SYRIZA , in 1992 voted the Maastricht Treaty) can exclude to take the possibility of a breaking-off with of the Eurozone into account.
In defiance of all forced talks about “victory” it is evident both to Tsipras and to Varoufakys that they were politically defeated at the negotiations.
They hoped they could break up the Euro-German bloc but on the contrary they were cornered and found themselves isolated. They aimed at “changing Europe “ but their plan were proved to be ambitious and even impossible. Only a fool could think that from now to August the relationships inside European Union can change. They will not change. If those “staunch Europeanist” have ears, let them hear.
Here is the third question: what sort of “B plan” do Tsipras and Varoufakys have?
I can venture a conjecture: in the face of the clear impossibility of getting out of debt and remaining in the Eurozone they will propose to Germany and to the European synedrion the possibility of a separation by mutual consent: a withdrawal from EU that is as painless as possible for the Greek people and not destructive for the Union.
Fourth question: will Germany accept a separation by mutual consent? Probably it will but only if Greece undertakes to pay back the main part of its debt. In nuce: separation but no default charged to the creditors.
During the rematch they will have to focus on this. The outcome will depend on the success or failure of the German war of attrition against the Tsipras government. This war was started by Germany in order to weaken and topple the Tsipras government and bring back its puppets regime. If SYRIZA is able to maintain its broad consensus among the Greeks (this is its main weapon, the second is a possible geopolitical shift towards Eastern Europe) the rematch results will not be facile.
I am certain that SYRIZA, after a forced setback (of course this was also due to its ignorance and cowardice) will not accept a second setback, which would be fatal. It would become itself an executioner in charge of crucifying Greek people. Tsipras cannot do anything else but refusing this macabre role so he will either pack his bags and call the election (at the risk of social and political chaos and really catastrophic results) or he will be bound to handle the default and the unilateral withdrawal from the Eurozone.
Postscriptum
Contrariwise to those who are getting ready to betray and leave the Greek people to their fate, crying about a “great betrayal of SYRIZA” we must keep a close eye on the Greek events which are really full of lessons to be learned for all of us and, just like in the past, we have to express our full solidarity to the Greek people, in spite of the many limitations of the Tsipras government.

Commerzbank fined $1.5bn for doing business with sanctioned Iran and Sudan

Reuters/Ralph Orlowski
Reuters/Ralph Orlowski


Germany’s second biggest bank, Commerzbank, is to pay $1.45 billion (€1.36 billion) in fines to settle US Justice Department charges over transactions with sanctioned companies in Iran and Sudan.
From 2002-2008, the German bank cleared transactions worth $253 billion for Iranian and Sudanese companies that were sanctioned by the US. It used a method called ‘wire-stripping’ so as not to leave an identity on the transaction.
“Commerzbank concealed hundreds of millions of dollars in transactions prohibited by US sanctions laws on behalf of Iranian and Sudanese businesses,” said Assistant Attorney General Leslie Caldwell in a statement published by the Department of Justice on Thursday.



The Frankfurt-based bank, which has its US branch in New York, was accused of performing transactions for an Iranian shipping company linked to weapons of mass destruction. The bank continued to process more than $224 million worth of dollar transactions to 17 Sudanese banks when other banks wouldn’t. The Justice Department said Commerzbank used non-transparent methods.
“Commerzbank committed these crimes even though managers inside the bank raised red flags about its sanctions-violating practices. Financial institutions must heed this message: banks that operate in the United States must comply with our laws, and banks that ignore the warnings of those charged with compliance will pay a very steep price,” Caldwell said.
The US started levying sanctions against Iran in 2002 to deter Tehran from its nuclear ambitions. Comprehensive economic, trade and financial sanctions have been in place in Sudan since 1997 over the state’s support for international terrorism.
Commerzbank was found guilty by the US Justice Department for violating the International Emergency Economic Powers Act (IEEPA) and the Bank Secrecy Act (BSA).
It agreed pay a $610 million fine to the New York State Department of Financial Services (DFS), $200 million to the Federal Reserve; a $79 million fine for violating the International Emergency Economic Powers Act (IEEPA), as well as forfeit $563 million.
BNP Paribas was slapped with a much larger $8.8 billion fine in June for similar sanctions-related infractions.

Evidence Of Unprecedented Money Laundering To Fund Endless Wars And Coups — Gordon Bowden


Europe and Euro Collapsing, US Next, China’s Yuan Enters the Currency “Big Leagues” to Take On the Dollar, Monetary Base Falls, Germany’s Bundesbank Resumes Gold Repatriation from US Fed


Published on Jan 27, 2015
Market Volatility Increases, Open-Ended European QE (Markets Rally for 1 Day), Greek Elections: Who Will Win? What’s Next for France? China’s Yuan Enters the Currency “Big Leagues” to Take On the Dollar, Monetary Base Falls, Germany’s Bundesbank Resumes Gold Repatriation from US Fed, Criminal Syndicate Bank Fines Climb, How to Trade the Euro
The Holy Spirit Investment club is presented by InvestingwithInsight.com
at 10 AM, Saturdays, at the Morningstar Conference Center in Fort Mill, SC
Hosted by Ken & Valerie Storey

SWIFT Gives OBAMA the BIRD…..and RUSSIA a Seat On the Board

First, for those that don’t know, the SWIFT system connects more than 10,000 banks in more than 200 countries and provides the messaging that makes trillions of dollars of international payments possible.
The US and Europe had been pressuring SWIFT to drop Russia from their systems like they did Iran. Russia pretty much said this would be an act of war if it happens because it would financially cripple them. But now, not only did SWIFT NOT kick Russia out,they actually gave them a seat on the board!!
Of course China and Russia are putting their own alterntative to SWIFT, CIPS, which is scheduled to go online in September.
http://rt.com/business/239581-swift-russia-board-traffic/
http://www.forbes.com/sites/kenrapoza/2015/01/27/russia-to-retaliate-if-banks-given-swift-kick/
China Completes SWIFT Alternative, May Launch “De-Dollarization Axis” As Soon As September!
One of the recurring threats used by the western nations in their cold (and increasingly more hot) war with Russia, is that Putin’s regime may be locked out of all international monetary transactions when Moscow is disconnected from the EU-based global currency messaging and interchange service known as SWIFT (a move, incidentally, which SWIFT lamented as was revealed in October when we reported that it announces it “regrets the pressure” to disconnect Russia).
Of course, in the aftermath of revelations that back in 2013, none other than the NSA was exposed for secretly ‘monitoring’ the SWIFT payments flows, one could wonder if being kicked out of SWIFT is a curse or a blessing, however Russia did not need any further warnings and as we reported less than a month ago, Russia launched its own ‘SWIFT’-alternative, linking 91 credit institutions initially. This in turn suggested that de-dollarization is considerably further along than many had expected, which coupled with Russia’s record dumping of TSYs, demonstrated just how seriously Putin is taking the threat to be isolated from the western payment system. It was only logical that he would come up with his own.
more:
http://www.zerohedge.com/news/2015-03-09/de-dollarization-encircles-globe-china-completes-swift-alternative-may-launch-soon-s
NML