On Monday, the first gold contracts denominated in the Chinese Renminbi (also known informally as “yuan”) came to the Hong Kong
market. Analysts have been quick to note the implications of a yuan-denominated contract, realizing that the new contract could drive
nearly three times as much demand as the dollar-denominated contract.
Looking at the yuan product from the macro-view, a move into gold is about more than just gold—it’s about reserve currency status.
The US Dollar has a monopoly as the world’s reserve currency. The size and scope of the US economy and financial markets, combined
with the relative stability of the political climate, made the US dollar a preferred currency for international trade.
However, the reason most cite for dollar dominance isn’t the United States’ role in international commerce, but its monopoly on a
single product—oil. In an agreement with Saudi Arabia, the United States effectively tied the global oil market to the US dollar. No
other currencies could be used to purchase “black gold,” the driver of modern industry.
Signs of Defiance
As China grows, it naturally wants to extend its reach as an economic powerhouse. Recently, in a move that rattled those who see the
dollar as the only reserve currency, China agreed to trade oil and energy products with Russia in their own currencies. This should
have been seen as a warning sign, a move that would lead to new policies to make the Renminbi a global currency for commerce.
Relative to other commodities, gold is relatively unimportant to commerce. Most of us can keep our cars running and the factories on
Renminbi Goes Global
Gold is a very important commodity in the realm of modern finance, however. In allowing the markets to buy gold denominated in the
Chinese currency, investors can essentially exchange yuan directly for other currencies, using gold as a proxy.
That is to say investors now have a binary trade to buy and sell Renminbi. Buying the Renminbi requires holding a short gold position
in yuan and a long gold position denominated in another currency. Once the gold is netted out by equal short and long positions,
investors have only foreign currency exposure.
Never before has it been so easy for investors to buy and sell Chinese Renminbi directly or indirectly. Investors have long sought to
play the rising Renminbi, but Chinese capital controls kept the currency as a primarily local institution. Now it’s available to most
everyone, and with two simple transactions, enough Renminbi can be purchased, provided there’s enough gold available to back each
And so this is where the Chinese realize the importance of gold. Allowing the yuan-denominated contract to trade will only increase
investor appetite for other yuan-denominated commodities. While oil contracts may be a few months or years away, the reality is that
the Chinese are positioned to make the Renminbi a world reserve currency. It’s only a matter of a few new commodity contracts to get
the world’s attention.
With Gaddafi dead and its “military job now done,” NATO has declared its campaign in Libya one of the “most successful in NATO
history.” However, untold casualties and a country devastated by war call into question the alliance’s notion of success.
Coming through on last week’s promise to end military operations in Libya, on Friday NATO Secretary-General Anders Fogh Rasmussen
declared the military operation in Libya would be wrapped up on October 31, the Associated Press (AP) reports.
His announcement came a day after the United Nations Security Council passed a resolution to lift the no-fly zone over Libya.
Speaking from Brussels, Rasmussen said that following the death of Gaddafi, military operations were able to wind down quickly,
noting triumphantly that “Operation Unified Protector is one of the most successful in NATO history,'' as cited by AP.
US President Barack Obama was equally full of praise for the operation. Speaking on the popular late night talk show The Tonight
Show with Jay Leno, Obama told the host operations in Libya "only cost us a billion dollars" and no US troops were killed or injured.
The price of success
Speaking on March 31, Bishop Giovanni Innocenzo Martinelli, Apostolic Vicar of Tripoli, reported that “the so-called humanitarian
air raids have taken the lives of dozens of civilians in various areas of Tripoli.” The senior cleric went on to say “in the
district of Buslim, a building collapsed because of the bombing, killing 40 people,” as cited by Agenzia Fedes, the information
service of the Pontifical Mission Societies.
However, despite the decision to turn a blind eye to the casualty figures, one of the few instances the alliance could not deny
culpability in was a June 19 NATO missile strike that resulted in the deaths of nine civilians.
Attacks of this nature were happening on a daily basis throughout the intense bombing campaign.
Speaking in September, the health minister in the new Libyan government estimated that at least 30,000 people had been killed and
50,000 wounded during the first six months of the war. Some, however, have estimated that the real figure could be much higher.
Writing back in September, Thomas C. Mountain, an independent journalist currently living in Africa who was a member of the 1st US
Peace Delegation to Libya in 1987, estimated that NATO had dropped over 30,000 bombs on Libya, with an average of "two civilians
killed in each attack.” Thus, Mountain has estimated that some 60,000 Libyan civilians had been killed by NATO air strikes alone by
the end of August.
Shortly thereafter, when rebel forces began the siege of Sirte, Moussa Ibrahim, a spokesman for the now-deceased Libyan leader
Muammar Gaddafi, told Reuters via telephone on September 19 that "in the last 17 days, more than 2,000 residents of the city of Sirte
were killed in NATO air strikes."
As of today, some 26,000 NATO sorties and 9,600 strike missions have been conducted by NATO, with an average of four bombs used per
A country in ruins
Though it may never be known just how many died in “the most successful operation in NATO history,” the alliance has shown little
interest in rebuilding a nation that has in many ways been wrecked by its seven-month military campaign.
According to Palestinian human rights activist Shawan Jabarin, “The military operation damaged everything in Libya, not just Gaddafi
and his regime, but the society [as well].”
Former MI5 agent Annie Machon went further, telling RT that NATO’s intervention had plunged Libya back into the Stone Age.
“They’ve had free education, free health, they could study abroad. When they got married they got a certain amount of money. So they
were rather the envy of many other citizens of African countries. Now, of course, since NATO’s humanitarian intervention, the
infrastructure of their country has been bombed back to the Stone Age,” Machon asserted.
“They will not have the same quality of life. Women probably will not have the same degree of emancipation under any new transitional
government. The national wealth is probably going to be siphoned off by Western corporations. Perhaps the standard of living in Libya
might have been slightly higher than it is now in America and the UK with the recession,” she concluded.
Outside of the damage done to Libya’s infrastructure and economy, Thursday’s UN resolution also expressed "concern at the
proliferation of arms in Libya and its potential impact on regional peace and security," as cited by Reuters.
As the circumstances surrounding Muammar Gaddafi’s death remain a mystery following his capture by a mob on the streets of Sirte,
analysts fear that armed groups answering to no central authority could prove to be the new ruling model for some time to come in
NATO’s newly-liberated Libya.
NATO planning first-strike operations again
Interview with Rick Rozoff, the manager of the Stop NATO website and mailing list and a contributing writer to Global Research.ca.
Gaddafi son seeks flight to Hague war crimes court
DUBAI (Reuters) - Saif al-Islam Gaddafi, fearing for his life if captured in Libya, has tried to arrange for an aircraft to fly him
out of his desert refuge and into the custody of the Hague war crimes court, a senior Libyan official said Thursday.
Details were sketchy but a picture has built up since his father's grisly killing while in the hands of vengeful rebel fighters a
week ago that suggests Muammar Gaddafi's 39-year-old heir-apparent has taken refuge among Sahara nomads and is seeking a safe haven
2011-10-27 (China Military News cited from Prensa Latina) -- Chinese and Cuban military authorities on Wednesday expressed interest
in boosting their links, on the occasion of the visit of the Vice-Chairman of the Central Military Commission of the People's
Republic of China, Gen. Col. Guo Boxiong, and of the hospital ship Peace Ark on a Caribbean tour.
"We will take our friendly relations in the defense field to a higher level," said the Chinese official during a visit to the Chinese
ship anchored in Havana, accompanied by First Deputy Minister of the Armed Revolutionary Forces of Cuba (FAR), Gen. Leopoldo Cintra,
and Chinese Ambassador to Cuba Liu Yugin.
The head of the FAR Political Department, Maj. Gen. Jose Antonio Carrillo, said that the meeting between military authorities from
both countries will contribute to consolidate current ties between the two peoples, communist parties, governments and armed forces.
On November 19-22, 2011, the trial of George W Bush (former U.S. President) and Anthony L Blair (former British Prime Minister) will
be held in Kuala Lumpur. This is the first time that war crimes charges will be heard against the two former heads of state in
compliance with proper legal process.
Charges are being brought against the accused by the Kuala Lumpur War Crimes Commission (KLWCC) following the due process of the law.
The Commission, having received complaints from war victims in Iraq in 2009, proceeded to conduct a painstaking and an in-depth
investigation for close to two years and in 2011, constituted formal charges on war crimes against Bush, Blair and their associates.
The Iraq invasion in 2003 and its occupation had resulted in the death of 1.4 million Iraqis. Countless others had endured torture
and untold hardship. The cries of these victims have thus far gone unheeded by the international community. The fundamental human
right to be heard has been denied to them.
As a result, the KLWCC had been established in 2008 to fill this void and act as a peoples’ initiative to provide an avenue for such
victims to file their complaints and let them have their day in a court of law.
Understand This, it's not the Jewish people over there just as it's not the American people over here, as I have said before these
are not our invasions and occupations but those of the ones who have conquered us! I know many will disagree with me but from my
study there has to be a separation between Zionism and the Jewish people before anyone can begin to understand who the enemy is or
your playing into the Zionist game as the second video will show. The first video is spot on and the second video of the teacher that
has been fired is an example of how not understanding the difference between Zionism and Judaism plays right into the hands of the
Zionist entity that is using the word Jew for their covert world operations.People have to stop fighting with people and start
fighting the monsters that are playing us like a fiddle!
THE "ULTIMATE REVOLUTION" COUP D'ETAT: Thé Brave New World Dystopia YOU Live In NOW
Even in music, America soon found itself overrun by the ARTIFICIAL AND MANUFACTURED DISTRACTION "BRITISH INVASION" FOLLOWED BY THE
1967 "PSYCHEDELIC ERA" SOCIAL EXPERIMENT "SUMMER OF LOVE" DESIGNED TO DISTRACT, DISCREDIT, AND CORRUPT VALID ANTI-WAR ACTIVISM AND
STOP QUESTIONS AND RESEARCH.
PEOPLE WERE ASKING QUESTIONS. THE RULING ELITES TO STIFLE THIS INFILTRATED THE ACTIVISTS WITH GROOVY HIPSTER SHILLS LIKE JERRY RUBIN
AND TIMOTHY LEARY AND KEN KESEY WITH THE CIA BIRTHED "MERRY PRANKSTERS" FROM CIA MK-ULTRA MIND CONTROL GAMES AT U.C.L.A. UNIVERSITY
IN LOS ANGELES BY HOLLYWOOD AND LAUREL CANYON. COINCIDENCE??? HELL NO.
From 7 Billion People To 500 Million People – The Sick Population Control Agenda Of The Global Elite
The United Nations has officially designated October 31st as 7 Billion Day. On that day, the United Nations estimates that the
population of the earth will hit 7 billion for the very first time. But instead of celebrating what a milestone 7 billion people
represents, the UNPF is focusing instead on using October 31st to raise awareness about “sustainability” and “sustainable
development”. In other words, the United Nations is once again declaring that there are way too many people on the planet and that
we need to take more direct measures to reduce fertility. In recent years, the UN and other international organizations have become
bolder about trying to push the sick population control agenda of the global elite. Most of the time organizations such as the UN
will simply talk about “stabilizing” the global population, but as you will see in this article, there are many among the global
elite that are not afraid to openly talk about a goal of reducing the population of the world to 500 million (or less). To you and I
it may seem like insanity to want to get rid of more than 90 percent of the global population, but there is a growing consensus among
the global elite that this is absolutely necessary for the good of the planet.
by Dr Paul Craig Roberts
The financial crisis, which is very much still with us, did not result from accident or miscalculation; neither did it result because
of a flaw in Alan Greenspan’s theory, as he told Congress when a feeble effort was made to hold him accountable.
Last March I reviewed Matt Taibbi’s important book Griftopia, an entertaining account of the
through-going financial fraud that gave us the financial crisis. (See review) Taibbi shows that the US “superpower” can match any third world backwater in the magnitude
of greed and fraud that is endemic in business and government. I would not be surprised if Taibbi’s book motivated the more
aware participants of Occupy Wall Street.
Taibbi’s Griftopia was published last year. This year Henry Holt publishers have provided us with Gretchen Morgenson and
Joshur Rosner’s Reckless Endangerment.
Morgenson and Rosner tell the story again, but with less drama and provocation. Possibly, it might be more acceptable to those
gullible Americans who wrap themselves in the flag and refuse to believe that their country could ever knowingly do anything that is
I am not suggesting that Morgenson and Rosner pull their punches. To the contrary, the authors deliver enough knockouts to be
contenders with Taibbi as world champions in exposing the reckless fraud that the US financial sector and its regulators now
The financial crisis, which is very much still with us, did not result from accident or miscalculation; neither did it result
because of a flaw in Alan Greenspan’s theory, as he told Congress when a feeble effort was made to hold him accountable. It was
the intentional result of people motivated by short-term profits who wanted to get theirs and get out.
As Reckless Endangerment shows, fraud characterized every stage of the process from the fraudulent borrower incomes and credit
scores that mortgage issuers gave to unqualified buyers, through the securitization of the mortgages and their triple-A investment
grade ratings by the rating agencies (Standard & Poor’s especially, but also Moody’s and Fitch) to the investment
banks that sold what the banks knew was junk to investors around the world as investment grade securities. Indeed, Goldman Sachs was
simultaneously betting against the mortgage derivatives that it was selling to clients.
Investment banks, such as Goldman Sachs, which once considered it a matter of honor to represent the interests of customers, took
advantage of the trust that had been built up in the past to commit fraud against customers in order to advance the banks’
short-term profits and the out-sized multi-million dollar managerial bonuses that these fraudulent profits produced.
Morgenson and Rosner provide a number of unique accounts of how those benefitting from fraud were able to defeat laws that were
passed that would have held them to account. For example, the state of Georgia passed perfect legislation that held predatory lending
to account. William J. Brennan Jr. and Georgia Governor Roy E. Barnes got the Georgia Fair Lending Act through the state legislature.
It was a model for other states. As the federal regulators had thrown in the towel, the state laws would have prevent the worst part
of the financial crisis, it not prevented the crisis altogether.
The Georgia law only lasted a few months, because the rating agencies saw that their enormous profits from issuing fraudulent
investment grade ratings were threatened by the law. The corrupt rating agencies mischaracterized the consumer protection act as a
jihad by regulators. Standard & Poor’s declared that it would no longer allow Georgia mortgages to be placed in mortgage
securities that it rated.
In other words, Georgia mortgages could no longer be securitized. This announcement banned Georgia mortgage lenders from
securitization. Thus, the law was overturned, and fraud ran wild.
These kind of mafia strong-armed tactics in order to protect at all costs the short-term mega-bonuses that drove the totally
fraudulent system have never been held accountable or punished. Totally innocent people are held indefinitely and tortured by the US
government for no other reason than to convince the gullible public that they are endangered by terrorists, but those who wiped out
the home ownership and retirement pensions of millions of Americans now hold high and honorable positions on corporate boards and US
Federal regulatory agencies totally failed. Brooksley Born tried to use her statutory authority to regulate over-the-counter
derivatives, but she was blocked by the Federal Reserve chairman, the US Treasure secretary, and the SEC chairman and forced to
resign. As University of Chicago Nobel economist George Stigler predicted, regulatory agencies are captured by those who are intended
to be regulated. This was the case. Regulators turned a blind eye to obvious criminal fraud, and were rewarded with lucrative
positions in the financial community. The same for the US senators and representatives who repealed Glass-Steagal and other financial
For example, former US senator Phil Gramm who spearheaded the repeal of the Glass-Steagall Act, which separated commercial from
investment banking, the repeal of which set up the financial crisis, was rewarded by being made vice chairman of the mega-bank UBS, a
Swiss global financial services company.
What Taibbi, Morgenson and Rosner make clear is that while monster criminals continue to collect their multi-million dollar annual
incomes, depressed single mothers, deserted by the men who fathered their child, are sent to prison for having small quantities of
illegal drugs to boost their depressed spirits, and their children are put out to adoption.
This is “justice” in America where there is “freedom and democracy”.
Dr. Paul Craig Roberts is the father of Reaganomics and the former head of policy at the Department of Treasury. He is a columnist
and was previously an editor for the Wall Street Journal. His latest book, “How the Economy Was Lost: The War of the Worlds“, details why
America is disintegrating.
TRAILER -- The Nazi Banksters' Crimes - Ripple Effect
Coming the 5th of November, 2011, Muad'Dib will be releasing His latest hard-hitting documentary about the innumerable crimes of the Ashke-Nazi Banksters.
From their historical origins down to their planned genocidal future, Muad'Dib tracks who THEY* are, how THEY operate, and most importantly, how to get rid of them once and for all.
Muad'Dib is calling on millions of people to peacefully surround the Houses of Parliament in London, England -- on the 5th of November, 2012 -- to clean it of corruption and treason, making it a day that present and future generations will never forget.
After being wrongfully arrested and falsely and maliciously imprisoned for making His "7/7 Ripple Effect" film and defending innocent people, Muad'Dib is back with no mercy for those who've shown none to others.
Cutting to the root of the problem, with the only solution. Come and be part of it.
* THEY =(T)he (H)ierarchy (E)nslaving (Y)ou.
Regarding your statement: "Nazi-Bankers",
Stop pushing the old lie about the German National Socialists and the Great One, Adolf
FACT: Hitler abolished the fractional reserve banking system and kicked out the bankers!
That's why the Talmudic Bankers had their agents, Churchill and Roosevelt, manufacture
war with Germany, the only country to overcome the Great Depression and institute full
Prior to Hitler, Germany was debased by pornography, to destroy their culture, and
exploited by the Jewish banker, who were purchasing real wealth, property and valuables,
for pennies to the dollar. This is the old swindle of the bankers when they pull back on
the money supply to deliberately bankrupt a nation. (sound familiar?)
Hitler was the most honorable and incorruptible leader ever produced in the modern age,
where corruptibility is the number one requirement for those who seek political office.
The Versailles Treaty had carved off one-third of Germany's best farmland, and those
German's who now found themselves in Poland were being massacred by the thousands to
provoke Germany into invading Poland to save their country-folk. In one village alone,
more than 5,000 villagers, men , women, and children, were brutally tortured, raped, and
murdered! Hitler's protection of these unfortunates prompted Britain to declaring war, a
war which destroyed the British Empire. A war instigated by the Jewish bankers, who
bribed Churchill for a measly 40,000 pounds in return for making war with Germany!
The continual anti-German propaganda is unwarranted!
Hitler was an prophet!
Obviously you're a neo-nazi, but hitler was nothing more than a rothschild
bankster stooge, like FDR and churchill too.