– Why China’s Leaders Know There’s A Storm Ahead (ZeroHedge, July 26, 2013)
Month: July 2013
JPMorgan To Exit Physical Commodity Business
– JPMorgan To Exit Physical Commodity Business (ZeroHedge, July 26, 2013):
After weeks of emptying of their Gold vaults and making headlines in recent days over their oligolopolization of commodity warehousing, it seems the threat of a probe has excited Blythe and her colleagues to dump while the dumping is good:
- JP. MORGAN TO EXPLORE STRATEGIC ALTERNATIVES FOR ITS PHYSICAL COMMODITIES BUSINESS
Options include sale, spin-off, or strategic partnership as they re-confirm that they are “fully committed to traditional banking activities,” as they look to drop the holdings of commodities assets and the physical trading business. We can only assume that “physical commodities” include the company’s extensive inventories of tungsten (as well as the vault housing it), and not so extensive stores of gold and silver. That said, we are confident that the collapse in represented (but not warranted) JPM Comex gold vault holdings to a record low, and this news is completely unrelated.
From JPM:
J.P. Morgan to Explore Strategic Alternatives for its Physical Commodities Business
Cancer Villages In Central China: “We Should Re-Consider The Country’s Industrialization” (Video)
– The Pitfalls Of Politburo Planning: Pollution Produces Cancer (ZeroHedge, July 26, 2013):
While the choking pollution in China, that we have discussed time and again – most recently here and here, has previously been linked with health concerns, academic studies released this week have now shown a direct link between higher cancer-rates in Central China and the level of pollution. The study published on June 25th is the first to scientifically prove the correlation between water pollution and cancer mortality in an area of China that is home to more than 160 million people. Despite government efforts to clean the water, it remains well below safety standards but local villagers continue to have no choice but to use it: “The river was black, poisonous fumes, and dead fish everywhere… the well water was also contaminated.. and during this period many died of cancer.” Despite spending millions to try and prevent pollution, as one local villager exclaimed “we should re-consider the country’s industrialization.” What cost a 7% GDP growth print?
YouTube Added: 23.07.2013
Pentagon To Deploy Huge Blimps Over Washington, DC For 360-Degree Surveillance
– Pentagon to deploy huge blimps over Washington, DC for 360-degree surveillance (RT, July 25, 2013):
A pair of high-tech Army blimps is coming to the greater Washington, DC area, and soon they will be able to provide the military with surveillance powers that spans hundreds of millions of acres from North Carolina to Niagara Falls, Canada.
The airships are part of Raytheon’s Joint Land Attack Cruise Missile Defense Elevated Netted Sensor System, or JLENS, and when all is said and done they’ll offer the United States military what the defense contractor calls “an affordable elevated, persistent over-the-horizon sensor system” that relies on “a powerful integrated radar system to detect, track and target a variety of threats.”
Raytheon has just wrapped up a six-week testing period in the state of Utah and is now sending its JLENS fleet to the Aberdeen Proving Ground in Maryland. Once there, the Army intends to get some hands-on experience that will eventually culminate in launching the pair of airships over Washington, DC.
Once above the nation’s capital, JLENS will allow the Army to see for 320 miles in any direction from 10,000 feet above the earth. The system can be set up to operate on its own for an entire month without requiring refueling, and offers the Pentagon surveillance capabilities that dwarf other options at a penny of the cost.
Read morePentagon To Deploy Huge Blimps Over Washington, DC For 360-Degree Surveillance
Israeli Hoax On General Dempsey Unmasked (Veterans Today)
– Israeli hoax on Gen. Dempsey unmasked (Veterans Today, July 26, 2013):
Hoax exposed: Gen. Dempsey rebuffs speculations he called for Syria raids
…
It Is Happening Again: 18 Similarities Between The Last Financial Crisis And Today
– It Is Happening Again: 18 Similarities Between The Last Financial Crisis And Today (Economic Collapse, July 25, 2013):
If our leaders could have recognized the signs ahead of time, do you think that they could have prevented the financial crisis of 2008? That is a very timely question, because so many of the warning signs that we saw just before and during the last financial crisis are popping up again. Many of the things that are happening right now in the stock market, the bond market, the real estate market and in the overall economic data are eerily similar to what we witnessed back in 2008 and 2009. It is almost as if we are being forced to watch some kind of a perverse replay of previous events, only this time our economy and our financial system are much weaker than they were the last time around. So will we be able to handle a financial crash as bad as we experienced back in 2008? What if it is even worse this time? Considering the fact that we have been through this kind of thing before, you would think that our leaders would be feverishly trying to keep it from happening again and the American people would be rapidly preparing to weather the coming storm. Sadly, none of that is happening. It is almost as if they cannot even see the disaster that is staring them right in the face. But without a doubt, disaster is coming.
The following are 18 similarities between the last financial crisis and today…
Read moreIt Is Happening Again: 18 Similarities Between The Last Financial Crisis And Today
Kremlin: Russia Won’t Extradite Snowden To US
– Russia won’t extradite Snowden to US – Kremlin (RT, July 26, 2013):
Moscow says security agency FSB is in talks with the FBI over Snowden. But the whistleblower will not be extradited to the US, a Kremlin spokesman said, adding he’s sure the fugitive NSA contractor will stop harming Washington if granted asylum in Russia.
“Russia has never extradited anyone, and will not extradite,” said Vladimir Putin’s spokesman Dmitry Peskov.
Russian President is not handling the case of the former CIA employee Edward Snowden, as “Snowden has not made any request that is subject to consideration by the head of the state,” Peskov added.
The issue of Snowden asking for temporary asylum “was not and is not on Putin’s agenda,” Peskov continued, saying that it lies in the sphere of the countries’ security agencies.
AND NOW: Eric Holder To Russia: Trust Us, We Won’t Kill (or Torture) Snowden
Oh, sure!
Ask Bradley Manning.
Trust us!
– JULY 25, 2013 … YES WE CAN! … Obama vs Snowden (Video)
More complete BS we can believe in!
– Holder To Russia: Trust Us, We Won’t Kill (or Torture) Snowden (ZeroHedge, July 26, 2013):
In a brief two-page letter (below) to Russia’s Minister of Justice, AG Holder offers to graciously allow Edward Snowden to return to the US promising that he will be neither tortured (“Torture is unlawful in the US”) nor put to death (“The charges he faces do not carry that possibility.”) Holder’s plea ends on a hopeful note that he believes “these assurances eliminated grounds for Mr. Snowden’s asylum.” We are sure Snowden (and the Russians) feel better already. On a sidenote, we were surprised a Dreamliner was not offered as means of transport just to ensure his safe arrival.
Via NPR,
The U.S. wants Russia to deport Snowden. American officials want him returned to the U.S. for prosecution. Holder’s letter, which was released Friday, addresses some “press reports and prior conversations between our governments” about issues involving Snowden’s status. The attorney general writes that:
Snowden “is able to travel. Despite the revocation of his passport on June 22, 2013, Mr. Snowden remains a U.S. citizen. He is eligible for a limited validity passport good for direct return to the United States. The United States is willing to immediately issue such a passport to Mr. Snowden.”
Claims that Snowden “would be tortured and would face the death penalty” if he is sent to the U.S. “are entirely without merit.”
On the death penalty, “the charges he faces do not carry that possibility.”
“Mr. Snowden will not be tortured. Torture is unlawful in the United States.”
“We believe these assurances eliminate these asserted grounds for Mr. Snowden’s claim that he should be treated as a refugee or granted asylum, temporary or otherwise.”
Full letter below:
Attorney Genral Eric Holder's Letter to Russia's Justice Minister
Halliburton Admits It Destroyed Gulf Spill Evidence, … Pays 0.0007% Of Revenue Fine
FLASHBACK:
– US Presidential Panel: Halliburton Knew Cement Mixed For BP Blowout Well Was Unstable
– Gulf of Mexico Oil Spill: The Halliburton Connection:
The company acknowledged Friday that it had completed the final cementing of the oil well and pipe just 20 hours before the blowout last week.
And don’t forget this fact (!!!):
“Just eight days before the Gulf blow-out, Halliburton also announced that it had agreed to buy Boots & Coots for $240.4 million. Who are Boots & Coots?
The world’s largest oil-spill clean-up company which also deals with oil and gas well fires and blowouts.
What an incredibly fortunate coincidence. What a slice of luck.”
– Halliburton Admits It Destroyed Gulf Spill Evidence, Pays 0.0007% of Revenue Fine (ZeroHedge, July 25, 2013):
With regard to the disastrous Macondo oil well rupture that ended in 11 deaths and triggered the largest US offshore oil spill of all time (and uncountable ongoing ecological impacts), Halliburton has ‘graciously’ decided to plead guilty to destroying evidence. ‘Guilty?’ we hear you ask? When has any large US corporation not just settled in order to not be forced to admit guilt? Well, as Reuters reports, “their willingness to plead to this may also indicate that they’d like to settle up with the federal government on the civil penalties.” The maximum statutory fine for this apparent midemeanour? $200,000! Or 0.0007% of expected revenues for 2013. Well, that’ll teach ’em for sure – they won’t be destroying evidence again, eh?
Via Reuters,
Halliburton Co has agreed to plead guilty to destroying evidence related to the 2010 Gulf of Mexico oil spill, the U.S. Department of Justice said on Thursday.
The government said Halliburton’s guilty plea is the third by a company over the spill and requires the world’s second-largest oilfield services company to pay a maximum $200,000 statutory fine.
Read moreHalliburton Admits It Destroyed Gulf Spill Evidence, … Pays 0.0007% Of Revenue Fine
Syria’s War Halves Wheat Harvest
– Syria’s war halves wheat harvest (Reuters, July 25, 2013):
The agricultural slump deals a blow to the policy of self-sufficiency in food which is a cornerstone of President Bashar al-Assad’s efforts to sidestep Western moves to isolate and weaken his government through sanctions.
That policy, part of a command economy imposed by the ruling Baath party when it took power in 1963, turned Syria into a wheat exporter until water shortages six years ago caused in part by intensive farming encouraged by hefty state subsidies.
Despite good rains this year, a scarcity of seed and fertiliser combined with labour shortages and damage to irrigation systems and storage facilities from the relentless conflict have led to the worst crop since 1984, when the country was hit by major drought, the traders and officials said.
“If you are an American citizen and you’re fighting with al-Qaeda linked rebels in northern Syria, your passport has been found.”
– An American Passport Found In Al Qaeda Camp In Syria (Business Insider, July 24, 2013):
If you are an American citizen and you’re fighting with al-Qaeda linked rebels in northern Syria, your passport has been found.
Among documents recovered in northern Syria by the Syrian Observatory for Human Rights was a passport issued by the United States, belonging to a 32-year-old American named Amiir Farouk Ibrahim, who has dual citizenship between the United States and Egypt.
He was born in Pennsylvania, and his passport was issued in 2012.
He is not the first American to be linked with the Syrian rebellion. Back in May, a Michigan woman was killed while fighting alongside rebel forces. And in March, we reported on a U.S. Army veteran in trouble with the F.B.I. for taking up arms with known terrorist organisations in fighting the Syrian regime.
What Gold Nationalization Really Means
Related info:
– What gold nationalization really means (Sovereign Man, July 25, 2013):
July 25, 2013
Vienna, AustriaGold owners are almost universally familiar with the story of Franklin Roosevelt criminalizing the ownership of gold back in 1933.
Executive Order 6102 was signed on April 5, 1933, and it forbade the “Hoarding of Gold Coin, Gold Bullion, and Gold Certificates within the continental United States.”
Ron Paul On Gold And Why ‘We’ll See More Detroits’ (CNBC Video)
– Ron Paul On Gold And Why “We’ll See More Detroits” (ZeroHedge, July 25, 2013):
In a brief but perfectly succinct interview on CNBC yesterday, Ron Paul shared his opinion on the need to own gold (and the physical demand for the manipulated metal) and the Detroit bankruptcy (“we’re going to see more Detroits”). He concludes that “long term, you can expect governments not to change” and that they’ll keep taking on more debt and printing more money until people lose confidence in both the U.S. dollar and the U.S. military, both of which will be shake the foundation of a fiat/dollar system.
Goldman And JPMorgan Probed Over Metals Warehouse Manipulations
– Goldman And JPMorgan Probed Over Metals Warehouse Manipulations (ZeroHedge, July 25, 2013)
Following our initial uncovering of the manipulation and monopolization of the metals warehousing business two years ago, the last few days have seen the public’s attention grabbed by the reality of what the banks are actually doing. Following this week’s hearing, as the Fed reconsiders banks roles in non-banking businesses (and the ‘societal benefit’), it seems the CFTC has woken up. As the WSJ reports, the Department of Justice has opened an initial probe into the metals warehousing industry and the Commodity Futures Trading Commission has also sent letters to some firms telling them to preserve documents, in what is likely the beginning stages of an investigation
.Via WSJ,
Read moreGoldman And JPMorgan Probed Over Metals Warehouse Manipulations
JULY 25, 2013 … YES WE CAN! … Obama vs Snowden (Video)
– JULY 25, 2013… (ZeroHedge, July 25, 2013):
Description:
“In a time of universal deceit – telling the truth is a revolutionary act.”
– GEORGE ORWELL“In our age there is no such thing as ‘keeping out of politics.’ All issues are political issues, and politics itself is a mass of lies, evasions, folly, hatred and schizophrenia.”
– GEORGE ORWELL
“Terrorism is the best political weapon for nothing drives people harder than a fear of sudden death.”
– Adolf Hitler
“Once a government is committed to the principle of silencing the voice of opposition, it has only one way to go, and that is down the path of increasingly repressive measures, until it becomes a source of terror to all its citizens and creates a country where everyone lives in fear.”
– Harry S. Truman
“The easiest way to gain control of the population is to carry out acts of terror. The public will clamor for such laws if their personal security is threatened.”
– Joseph Stalin
Debt Levels Are Skyrocketing To Extremely Dangerous Levels – How Long Can This Possibly Keep Going?
– Debt Levels Are Skyrocketing To Extremely Dangerous Levels – How Long Can This Possibly Keep Going? (Economic Collapse, July 24, 2013):
Never before has the world faced such a serious debt crisis. Yes, in the past there have certainly been nations that have gotten into trouble with debt, but we have never had a situation where virtually all of the major powers around the globe were all drowning in debt at the same time. And what makes this crisis even more unprecedented is that everyone on the planet is using fiat currency that is backed up by nothing. It is all just a bunch of paper and data points that people have faith in. Right now, confidence in this system is being shaken as debt levels skyrocket to extremely dangerous levels. Many are openly wondering how much longer this can possibly go on.
House Narrowly Rejects Proposal To End NSA Surveillance In 205-217 Vote
– House Narrowly Rejects Proposal To End NSA Surveillance In 205-217 Vote (ZeroHedge, July 24, 2013)
Moments ago, an unlikely grouping between a 33-year old Republican, Rep-Justin Amash, and an 84-year old Democrat, Rep-John Conyers, resulted in a House vote, that if passed, would have suspended the NSA’s “indiscriminate collection of phone records” and effectively ended the program’s statutory authority. Yet despite significant lobbying by the White House, security experts and representative on both sides of the aisle, the vote came within a startlingly close 12 votes of passage. A majority of Democrats, 111, voted for Amash’s amendment despite the full court press while 83 Democrats voted no. The GOP vote was 94-134. That the vote did not pass is not surprising. However, that it came to just 12 votes of passage is the stunning development and shows a sea change of how Congress approaches both personal privacy and the broader implications of the Patriot Act. All of it thanks to the action of one man who at last check was still stuck in the transit terminal in Moscow.
From The Hill:
Wednesday’s vote came after the White House and lawmakers who support the NSA’s surveillance activities launched a major offensive against Amash’s measure after it was granted a vote Monday evening.
Read moreHouse Narrowly Rejects Proposal To End NSA Surveillance In 205-217 Vote
Detroit: Federal Judge Halts Legal Challenges To Bankruptcy Filing
Before:
– Report: Michigan Judge Orders Detroit Bankruptcy Filing Withdrawn:
State Circuit Court Judge Rosemarie Aquilina ruled that the law allowing Gov. Rick Snyder (R) to authorize the bankruptcy filing was unconstitutional, according to Reuters. Aquilina ruled in favor of Detroit retirees and workers who argued the Michigan Constitution protected the retirement benefits in their city pension funds.
– Detroit Plans To Cut Pensions … Cries Of Betrayal
– After Detroit Bankruptcy Filing, City Retirees On Edge As They Face Pension Cuts (Washington Post)
“They want your f$$$ing retirement money!”
– George Carlin (2005)
– Detroit: federal judge halts legal challenges to bankruptcy filing (Guardian, July 24, 2013):
Ruling is major victory for city which had been sued by pension funds claiming bankruptcy threatened 22,000 employees
A federal judge agreed with Detroit on Wednesday and stopped any lawsuits challenging the city’s bankruptcy, declaring his courtroom the exclusive venue for legal action in the largest filing by a local government in US history.
The decision by US bankruptcy judge Steven Rhodes was a major victory for Detroit, especially after an Ingham County judge last week said that Governor Rick Snyder ignored the Michigan constitution and acted illegally in approving the Chapter 9 filing. That ruling and others had threatened to derail the case.
Retirees had sued, claiming the bankruptcy threatened their pensions that are protected by the constitution.
Read moreDetroit: Federal Judge Halts Legal Challenges To Bankruptcy Filing
KFC In China Where Ice Cubes Are 13 Times ‘Dirtier Than Toilet Water’
– At KFC in China the Ice Cubes are “Dirtier than Toilet Water” (Liberty Blitzkrieg, July 24, 2013):
I’ve covered food fraud, stealth inflation and related topics rather consistently for the past couple of years. As one might expect, China has been a hot spot for such activity, including the classic example of rat meat being served as lamb on the streets of Shanghai. Well here’s the latest controversy, ice cubes at KFC that are not just dirtier than toilet water, but 13x dirtier. YUM!
From Business Week:
Having battered KFC with reports last year that the company sold chicken fattened on illegal drugs, China Central Television now says the ice cubes at a KFC restaurant are dirtier than toilet water. The state-owned broadcaster found that ice in a Beijing outlet had 13 times as much bacteria as water from a toilet bowl and 20 times the national limit. (McDonald’s ice, according to the CCTV report, had less bacteria than toilet water but still didn’t meet national standards.)
Read moreKFC In China Where Ice Cubes Are 13 Times ‘Dirtier Than Toilet Water’
NSA Holds ‘Top Secret’ Meeting To Stop Powerful Anti-Spying Amendment
– NSA Holds “Top Secret” Meeting to Stop Powerful Anti-Spying Amendment (Liberty Blitzkrieg, July 23, 2013):
In case you aren’t aware, there is a very significant amendment set for a vote in the House of Representatives tomorrow. The amendment was authored by libertarian-Republican of Michigan Justin Amash, and it is to be attached to the Defense Appropriations Bill (which provides funding for the NSA). It is a bipartisan amendment, co-sponsored by Michigan Democrat John Conyers, and it would remove funding for NSA programs using the Patriot Act for blanket collection of phone records and metadata from phone service providers.
Here is a summary as it appears on the House of Representatives website:
Ends authority for the blanket collection of records under the Patriot Act. Bars the NSA and other agencies from using Section 215 of the Patriot Act to collect records, including telephone call records, that pertain to persons who are not subject to an investigation under Section 215.
The amendment’s supporters have even set up a web page dedicated to spreading the word and I strongly suggest you check it out at www.defundthensa.com
While I know many people will tend to dismiss such amendments by saying “it doesn’t matter,” I would say that if it “doesn’t matter” then why did NSA chief Keith Alexander hold a secret meeting today to lobby against it? Because it matters.
From the Huffington Post:
WASHINGTON — The National Security Agency called for a “top secret” meeting with members of the House on Tuesday to lobby against the first House amendment to challenge the agency’s authority to cull broad swaths of communications data, according to an invitation circulated in Congress.
NSA head Gen. Keith Alexander scheduled a last-minute, members-only briefing in response to the amendment, according to an invitation distributed to members of Congress this morning and forwarded to HuffPost.
The invitation warned members that they could not share what they learned with their constituents or others. “The briefing will be held at the Top Secret/SCI level and will be strictly Members-Only,” reads the invite.
Read moreNSA Holds ‘Top Secret’ Meeting To Stop Powerful Anti-Spying Amendment
How Does America’s Middle Class Rank Globally? We’re Number 27!
– How Does America’s Middle Class Rank Globally? #27 (Liberty Blitzkrieg, July 23, 2013):
We are number 1 right? USA! USA! No one can beat our wealth creation machine, our economic dynamism, our level playing field and our bastions of higher education. We have a middle class that is the envy of the world, right?
Well, like so much of the “American dream” we have been force fed for a generation or more, this perception is not based in reality whatsoever. Sure it may have been the case for a couple of decades immediately after World War 2. Before the military-industrial-Wall Street complex fully took over the political process, but it certainly isn’t true any longer. Myths die hard and this one is particularly pernicious because it prevents people from changing things. As James Baldwin said:
Not everything that is faced can be changed, but nothing can be changed until it is faced.
From the Huffington Post:
America is the richest country on Earth. We have the most millionaires, the most billionaires and our wealthiest citizens have garnered more of the planet’s riches than any other group in the world. We even have hedge fund managers who make in one hour as much as the average family makes in 21 years!
This opulence is supposed to trickle down to the rest of us, improving the lives of everyday Americans. At least that’s what free-market cheerleaders repeatedly promise us.
Unfortunately, it’s a lie, one of the biggest ever perpetrated on the American people.
Read moreHow Does America’s Middle Class Rank Globally? We’re Number 27!