Posts Categorized: Jim’s Mailbox

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Jim/Bill,

The point here, in the article below, is not about China’s holdings of gold.

Or the mad rush by many nations to accumulate sizable quantities.

But rather, the move away from the U.S. Dollar.

More to the point, backing the Yuan with gold as a replacement to the Dollar in global trade and investment.

Crucially, the size of the gold addition are far less important than the signaling effect – why did China decide now was the right time to publicly admit its gold reserves are rising?

After months of seeming stability in the yuan relative to gold, Q4 2018/Q1 2019 saw China seemingly allow gold to appreciate relative to the yuan

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One wonders if Alasdair Macleod is on to something when he notes that if the yuan is to replace the dollar for China’s trade, officials will have to back it with gold…

CIGA Wolfgang Rech

China Accelerates Renewed Gold-Buying Spree “To Diversify Its Reserves”
February 12, 2019

After China’s official gold reserves rose for the first time in around two years (since Oct 2016) in December, Beijing appears to have joined the global gold rush, increasing its gold reserves for the second month in a row in January to 59.94 million ounces.

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As we previously noted, China has long been silent on its holdings of gold as many countries are turning away from the greenback.

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The value the country’s holdings of the precious metal reached US$79.319 billion, increasing by more than $3 billion compared to the end of last year.

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Jim,

The Most Dangerous Weapon Ever Rolls Off the Nuclear Assembly Line

Dave

Tomgram: James Carroll, How Many Minutes to Midnight?
February 12, 2019

Consider it a marriage made in hell. Start with the groom, Donald Trump, the man who once wondered why in the world we make nuclear weapons if we can’t use them; who wouldn’t rule out using nukes, even in Europe; who insisted that a president should be “unpredictable” on the subject; who suggested that it might not be “a bad thing for us” if Saudi Arabia, Japan, and South Korea all became nuclear powers; who threatened North Korea with “fire and fury like the world has never seen” before he became a chummy correspondent with its dictator; and who called for a nearly 10-fold increase in the U.S. nuclear arsenal (among many other, often contradictory, comments he’s made on nuclear matters).

Now, think about the bride, National Security Advisor John Bolton, a “statesman” who never saw a nuclear agreement he didn’t want to nuke. Those included President Richard Nixon’s Anti-Ballistic Missile Treaty, President Bill Clinton’s Agreed Framework with North Korea, President Barack Obama’s Iran nuclear deal (all of which he helped to deep-six), and most recently President Ronald Reagan’s Intermediate-Range Nuclear Forces, or INF, Treaty (a pact that had actually resulted in thousands of ready-to-use nuclear weapons being scrapped). With the help of his neocon bro, Secretary of State Mike Pompeo, Bolton recently succeeded in sticking a knife directly in the back of that treaty. He’s undoubtedly now eying the New START treaty, which put limits on long-range nukes and is up for renewal in 2021. (The president has already called it “one of several bad deals negotiated by the Obama administration.”)

As TomDispatch regular and former Boston Globe columnist James Carroll points out today, the first new member of Trump’s and Bolton’s nuclear family, a “low-yield” nuke, was only recently born and given the less-than-apocalyptic name, W76-2. It looks as though, in nuclear terms, they are headed for a grim version of connubial bliss. To mix a metaphor or two in the fashion of our president, you might even think of that first progeny of theirs as a minute hand on a ticking clock heading for midnight. Tom

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Jim,

I posted the map of all nuclear test every conducted. I hope readers paid attention. The government is not concerned with your safety. Watch the video and you decide.

Dave

The Atomic Soldiers
February 12, 2019

I’ve always been fascinated by nuclear weapons and the self-destructive tendencies of mankind. So when I found declassified United States Civil Defense footage of soldiers maneuvering in the glare of a mushroom cloud, I wanted to learn more about their stories.

I discovered that as many as 400,000 American soldiers and sailors observed nuclear explosions just a few miles from ground zero in more than 200 atmospheric tests conducted between 1946 and 1962. It was difficult to get a precise count of how many men were involved, because most information was classified — including reports on the illnesses the veterans suffered and the radioactive pollution that was released into the environment around the test sites. I was baffled by the lack of recorded testimonies available, but I found a few firsthand accounts of the soldiers’ experiences. Many of them said they’d been positioned much closer to the point of detonation than in the footage I’d seen.

With so little information available and the number of remaining veterans dwindling rapidly, I wanted to prevent these stories from disappearing. I decided to interview some of them as research for a fiction film on the topic and wound up making this documentary in the process. I traveled across the United States to record the veterans’ accounts on camera.

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Great points Wolfgang!

Bill

Jim/Bill,

There 2 points of interest in this article.

Number One:

Yes Virginia, there IS a difference between the State and the Government!  The State is the people, the government is not.

“My bill only aims at making clear that the gold belongs to the state, not to the government,” he said in a telephone interview on Monday.“

“The gold is the property of the Italian people, not of anyone else,” Salvini said in comments to reporters on Monday.”

Number Two:

These numbers show how astonishingly low the price of gold is currently, relative to the indebtedness of countries.

“..the Bank of Italy has the third-largest central bank holding of gold reserves in the world after the US and Germany, owning 2,452 tonnes according to the World Gold Council, which at today’s prices would amount to just over $103 billion.

Of course, even that amount pales in comparison with Italy’s total debt load of €2.35 trillion”

The numbers revolving around debt, not only in Italy but throughout the world, are beyond human comprehension.

Gold at $10,000 an ounce now seems like a trifle!

CIGA Wolfgang Rech

Salvini Proposes Seizing Control Of Italy’s Gold Reserves From Central Bank
February 11, 2019

Italy’s populist de facto leader Matteo Salvini seems set on shaking Europe’s financial establishment to the core.

One day after the Italian deputy prime minister and leader of the League party, called for the elimination of Italy’s central bank and the country’s financial regulator, Consob, saying the two institutions should be “reduced to zero, more than changing one or two people, reduced to zero”, or in other words eliminated, and that “fraudsters” who inflicted losses on Italian savers should “end up in prison for a long time”, Salvini prompted fresh shocked gasps in Brussels and Frankfurt when he raised the possibility of seizing Italy’s massive gold reserves away from the country’s central bank.

“The gold is the property of the Italian people, not of anyone else,” Salvini said in comments to reporters on Monday, according to the FT.

The controversial comments, which were seen as threatening the “independence” of the Italian central bank, whose one-time head was none other than Mario Draghi, prompted Giovanni Tria, Italy’s economy minister, to defend the independence of the central bank.

Earlier in the day, Italy’s populists called on lawmakers to pass legislation stating that its gold holdings belong to the state, Bloomberg reported.

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Jim,

The USA does not like oil traded out side of the petrodollar.

Dave

Venezuela: Let’s Cut to the Chase
January 2, 2019

Cold War 2.0 has hit South America with a bang – pitting the US and expected minions against the four key pillars of in-progress Eurasia integration: Russia, China, Iran and Turkey.

It’s the oil, stupid. But there’s way more than meets the (oily) eye.

Caracas has committed the ultimate cardinal sin in the eyes of Exceptionalistan; oil trading bypassing the US dollar or US-controlled exchanges.

Remember Iraq. Remember Libya. Yet Iran is also doing it. Turkey is doing it. Russia is – partially – on the way. And China will eventually trade all its energy in petroyuan.

With Venezuela adopting the petro crypto-currency and the sovereign bolivar, already last year the Trump administration had sanctioned Caracas off the international financial system.

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Jim,

We need to keep shining light on fake news from MSM.  Funny how when President Trump does what the neocons want MSM gives it positive coverage.

Dave

Western Media Fall in Lockstep for Cheap Trump/Rubio Venezuela Aid PR Stunt
February 9, 2019

The Trump administration’s now completely overt effort to overthrow Venezuelan President Nicolás Maduro had a very successful public relations effort this week, as major Western media outlets uniformly echoed its simplistic, pre-packaged claim that the Venezuelan government was heartlessly withholding foreign aid:

Tensions Rise as Venezuela Blocks Border Bridge in Standoff Over Aid (CNN, 2/7/19)

Maduro Blocks Critical Aid Sent to Venezuela (CNN, 2/7/19)

Aid Arrives at Venezuela Border as US Demands Maduro Let It In(ABC News, 2/7/19)

Venezuela Crisis: Pompeo Demands Aid Corridor Opened (BBC, 2/7/19)

The US Says Maduro Is Blocking Aid to Starving People. The Venezuelan Says His People Aren’t Beggars. (Washington Post, 2/8/19)

Humanitarian Aid Arrives for Venezuela — But Maduro Blocks It(NPR, 2/8/19)

All of the above articles—and scores more like it—repeated the same script: Maduro was blocking aid from the US “out of refusal to relinquish power,” preferring to starve “his own people” rather than feed them. It’s a simple case of good and evil—of a tyrannical, paranoid dictator not letting in aid to feed a starving population.

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Courtesy of Dave.

Jim

The State of the Union: These Are Dangerous Times, and the Government Is To Blame
February 08, 2019

These are dangerous times.

Mind you, when I say that these are dangerous times, it is not because of violent crime, which remains at an all-time low, or because of terrorism, which is statistically rare, or because our borders are being invaded by armies, which data reports from the Department of Homeland Security refute.

No, the real danger that we face comes from none other than the U.S. government and the powers it has granted to its standing army to steal, cheat, harass, detain, brutalize, terrorize, torture and kill.

The danger “we the people” face comes from masked invaders on the government payroll who crash through our doors in the dark of night, shoot our dogs, and terrorize our families.

This danger comes from militarized henchmen on the government payroll who demand absolute obedience, instill abject fear, and shoot first and ask questions later.

This danger comes from power-hungry bureaucrats on the government payroll who have little to no understanding of their constitutional limits.

This danger comes from greedy politicians and corporations for whom profit trumps principle.

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Jim/Bill,

The western Governments are turning on their own people. We saw this in Occupy Wall Street. Watch the first couple minutes, see for yourselves.

Dave

GRAPHIC: Photographer’s Hand Blown Off By Police Grenade During Yellow Vest Mayhem
February 9, 2019

A man’s hand was blown off by a police grenade in Paris on Saturday during the 13th straight week of Yellow Vest protests.

Capturing the graphic aftermath of the incident was Ruptly – the video agency of Russia’s RT.

The Ruptly crew who filmed the horrific aftermath of the blast injury say they rushed over after hearing an explosion, and found the injured protester surrounded by paramedics.

Police fired tear gas and flash grenades to deter protesters, while demonstrators threw the canisters back towards police and lobbed signs and pieces of boarding as projectiles.

An eyewitness told the AFP that the grenade which obliterated the protester’s hand was fired by police to disperse the crowd. –RT

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Q’s latest post, I wish I had written this – it is so correct!

Courtesy of JB.

Jim

https://thehill.com/opinion/white-house/429292-the-case-for-russia-collusion-against-the-democrats
2682 Define ‘Projection’.
How do you fix something that is known to be broken (corrupt)?
Do you first need to remove those responsible?
Think FBI/DOJ ‘exit’ list.
How do you ‘restore’ the image (public faith) of our most prestigious ‘law enforcement’ institutions?
Hold people accountable?
Equal justice under the law?
The battle begins (as seen today) w/ public opinion.
The FIGHT to win PUBLIC FAVORABILITY.
The FIGHT to control the NARRATIVE.
How do D’s control the NARRATIVE?
1) FAKE NEWS MEDIA push of ‘by design’ narrative [daily updates – 4am]
2) FAKEWOOD echo of ‘by design’ narrative
3) SOCIAL MEDIA stream/promote of ‘by design’ narrative + censor/block/ban of challenger(s) of that narrative
Do they provide evidence to support their conclusions?
POTUS/RUSSIA narrative – evidence?
None.
POTUS racist narrative – evidence?
None.
POTUS …………(you can play this game all day long)
‘None’.
What do they count on?
How many experiments have been conducted by the C_A re: mind control?
Psych 101: If you hear & see something over and over again by multiple (supposedly credible) news agencies, elected officials, actors/actresses, documentaries on TV, movies, internet, social media, foreign press etc. all pushing the same narrative/conclusions…….what happens?
Do FACT-LESS claims become FACTS in the minds of many?
Do they count on the fact that w/ work, family, stresses of life, etc. that the typical person does not have enough time in the day to research topics for themselves and therefore would believe narratives projected in the echo chamber w/o the need to provide facts or substance other than opinion?
Why do they try so hard to keep you DIVIDED by race, gender, class, ……?
Notice an increase in this push over the past 2-years?
Are you stronger together/UNITED or DIVIDED?
If you dare to challenge their narrative are you cast out [banned] by society as a threat/conspiracy theorist etc..?
Are you cast out by members of your own family?
‘DIVIDED’
‘Group-Think’
THEY DO NOT WANT YOU TO THINK FOR YOURSELF.
A FREE-THINKING ‘LOGICAL’ PERSON WHO DRAWS CONCLUSIONS BASED ON FACTS ARE, PUT SIMPLY, A THREAT TO THEIR CONTROL/POWER GRIP.
ALL THEY CARE ABOUT IS CONTROL [I.E. POWER].
WITH CONTROL COMES PERSONAL GAIN.
They want to keep you poor and in need of government assistance.
Bigger the gov’t, the more CONTROL they have, the more POWER they possess.
When you are in need, you are weak.
When you are weak, you are not strong.
When you are not strong, you do not FIGHT BACK.
This is as real as it gets.
They never thought she would lose.
Why? See above re: Control.
Transparency is the only way forward.
Transparency is the only way to PROVE TO THE PUBLIC that everything SOLD TO YOU as TRUTH was nothing but a FAKE NARRATIVE DESIGNED TO KEEP, YOU, THE PEOPLE, POWERLESS, AND KEEP THEM, IN CONTROL [I.E. IN POWER].
FAKE NEWS’ [propaganda arm of the Democrat machine] sole responsibility is to prevent the TRUTH from ever being disseminated to the masses.
Mass Infiltration (everywhere).
Transparency is the only way forward re: public opinion.
Prosecution is the only way forward re: save & defend the rule of law.
Prosecution and Transparency is the only way to save our way of life.
Q

Available here

Posted by & filed under Jim's Mailbox.

Wolfgang,

That is called “Debt Monetization” and is very inflationary.

A way of paying off or otherwise financing debts accrued by a government by that same government or its independent central bank, in order to print more money and increase the monetary base. This can be done by issuing new bonds and/or selling domestic debt to foreign countries. Also called monetization.

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Jim

Jim/Bill,

THE US GOVERNMENT ITSELF IS BUYING ITS OWN DEBT!

THINK ABOUT THAT FOR A SECOND.

FRIGHTENING BECAUSE THE WORLD IS SELLING OFF ITS HOLDINGS.

“But even as the US added to its debt load, foreign holders of US Treasurys are gradually selling them off. So, who’s buying up all of this debt? And is it sustainable? ”

US government entities such as pension funds, Social Security, etc. increased holdings to a total of  $5.87 trillion.

American banks (very large holders), hedge funds, pension funds, mutual funds, and other institutions along with individual investors in their brokerage accounts or at their accounts with the US Treasury increased their holdings to $7.5 trillion.

CIGA Wolfgang Rech

US Adds $1.5 Trillion to Debt in 12 Months; Who’s Buying All These Bonds?
February 5, 2019

Over the past 12 months, the US federal government has added $1.5 trillion to the national debt.

As of Jan 30, the debt stood just under the $22 trillion mark at $21.97 trillion, according to the latest Treasury Department data. As WolfStreet put it, we’re seeing these rapidly increasing levels of debt during “good times when the economy is hopping. At the next recession, this is going to get cute.”

But even as the US added to its debt load, foreign holders of US Treasurys are gradually selling them off. So, who’s buying up all of this debt? And is it sustainable?

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See, there is not meddling in the gold market! Harry Dent told us so.

Courtesy of JB.

Jim

Federal Judge Tells Traders They Can Combine Cases Accusing JP Morgan Of Rigging Metals Market
February 7, 2019

A group of traders from across the U.S. who allege that J. P. Morgan Chase manipulated precious metals markets for years are one step closer to bringing a class action suit against the nation’s largest bank.

Earlier this month, a federal judge said five separate lawsuits making similar allegations against the bank could be combined, potentially including thousands of people who traded in the precious metals market from Jan. 2009 through Dec. 2015.

Litigation in a separate civil case has been put on hold until at least May at the behest of the Justice Department, which is investigating a “related criminal case” that involves alleged market manipulation by precious metals traders at J. P. Morgan.

JP. Morgan declined to comment on this story.

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Jim and Bill,

Let’s hope for the best in the year of the Pig.

Dave

Year Of The Pig Is Here! Literally
February 8, 2019

. . .

The most important for this year, is to convince the global public that the West (and its colonies) have lost absolutely all the right to even utter such definitions as “democracy”, “freedom” or “human rights”.

For centuries and decades, these concepts have been brutally violated by all Western colonialist powers, and as a result, hundreds of millions of oppressed people have been dying, or living in appalling slums under fascist dictatorships.

Today, the West is the greatest ideologically fundamentalist, as well as undemocratic force on earth. Great majority of people there accepted all ideological dogmas of ‘exceptionalism’, while conquered nations are also forced to believe in Western exceptionalism.

The West tries to systematically overthrow all democratic, free and independent governments on earth. Then, it replaces them with servile and corrupt regimes that rob their own people and deliver loot to the doorsteps of the masters in New York, London and other ‘white’ Western capitals. The West is running the most brutal, racist, and morally defunct system in the history of the world. It is a fascist system, which is propelled by business, brainless consumption, moral emptiness, enslavement and shameless control as well as gray uniformity.

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Jim,

We covered this many Saturdays ago.

Dave

‘Like It or Not, We Have Lost’: Retired US General Concedes Afghan Defeat
February 8, 2019

“The Taliban are the victors,” says retired US Brig. Gen. Don Bolduc, who saw 69 of his soldiers killed in Afghanistan. “We just haven’t figured that out yet.”

Absorbing the fact that the US has lost militarily in Afghanistan will be a “bitter pill” for the soldiers he fought with, Bolduc told Yahoo News Friday.

“They did what they were asked, they did the right thing, and they watched their teammates get maimed, get killed, and because of the failure of our policymakers and our senior military leaders, they’re going to have to swallow this pill,” he said.

Trump Vows to Return US Troops From Afghanistan if Peace Deal Signed With Taliban

The retired Special Forces officer says he has the dog tags of all 69 men who were lost during his five years in Afghanistan as a token to remind him of the “price for bad policy and strategy.”

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Yes, Jim, you and Bill are at least trying to do something.

Dave

35 Mind Blowing Facts About America That Previous Generations Of Americans Never Would Have Believed
February 8, 2019

. . .

These days, just about everyone that tries to step forward and shake up the system is slapped with heavy criticism.

But at least they are trying to do something.

Holding an important position does not make you a leader.  Rather, being a leader is about having a positive vision for the future and doing whatever you can to achieve that vision.

We have way too many “leaders” out there that are simply filling seats.  Our country is literally falling apart at the seams, and all they can think about is protecting their careers.

America desperately needs change, but unfortunately we have very few change agents.  So we continue to steamroll toward our date with destiny, and time is not on our side.

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Jim,

The powers that be have been planning an over throw.

Dave

How Chrystia Freeland Organized Donald Trump’s Coup in Venezuela
February 7, 2019

On Monday, February 5th, Canadian Foreign Minister Chrystia Freeland announced that the 14 countries of the Lima Group — who had actually formed themselves under her direction into this new group on 8 August 2017 in order to overthrow and replace Venezuela’s current President Nicholas Maduro — have now been joined (though she didn’t say to what extent) by the EU, and by 8 other individual countries. She stated:

“Today, we have been joined by our Lima Group partners, from Argentina, Brazil, Chile, Colombia, Costa Rica, Guatemala, Guyana, Honduras, Panama, Paraguay, Peru, and Saint Lucia. We have also been joined in our conversations with our partners from other countries, for this Lima Group ministerial meeting. These include Ecuador, the European Union, France, Germany, the Netherlands, Portugal, Spain, the United Kingdom, and the United States.”

She, along with US President Donald Trump, had, all along, been the actual leaders of this international diplomatic effort, to violate the Venezuelan Constitution blatantly, so as to perpetrate the coup in Venezuela.

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Kevin with an RMB/Gold update for us.

Bill

As a follow up to last week’s post that:

“There is no permanent peg to RMB (CNY) Gold. It only appears that there is a peg when the Chinese are accumulating physical gold production from overseas and draining the West’s inventory. This is now complete and RMB (CNY) gold price is set to move big while RMB (CNY) stays mostly constant. Fact – RMB Gold x RMB = $US Gold Price”

What RMB (CNY) Gold appears to be pegged to is the JPYCNY cross currency forex rate as the first set of charts indicates. What RMB (CNY) Gold is not pegged to is the CNYUSD forex rate as the second set of charts indicate.

Again the next move higher in RMB (CNY) Gold and USD Gold will most likely occur soon and with very little change in CNYUSD rate but with a substantial increase in Yen versus the RMB (CNY)

CIGA Kevin

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Jim/Bill,

David Stockman, Director of the Office of Management and Budget under President Ronald Reagan, has a few words to say (especially on gold):

– “The Fed drove up costs, prices and wages at 2% come hell or high water. You do that for two or three decades and, all of a sudden, you are totally uncompetitive.”

-“At the same time, it vastly inflated and subsidized a massive gambling spree and financial asset inflation on Wall Street.”

-Stockman points out that debt is the highest ever in almost every sector of the economy, and much of it is never getting paid back. Is there a big global default coming? Stockman says  “Yes, it is very likely, and this is why it is so dangerous to be in the stock market today because the whole thing is propped up by debt.”

-Stockman has been touting gold as a must-have insurance policy.  “Gold is the alternative asset to a bubble ridden financial system that is driven by the central banks.”

Pay heed, everyone.

CIGA Wolfgang Rech

Fed is Enemy of MAGA – David Stockman
February 6, 2019

By Greg Hunter’s USAWatchdog.com

Reagan White House Budget Director and best-selling author David Stockman says Fed policies over the last couple of decades hit the middle-class hard. Stockman contends, “The Fed drove up costs, prices and wages at 2% come hell or high water. You do that for two or three decades and, all of a sudden, you are totally uncompetitive. You have the highest cost structure in the world economy, and the jobs and production migrate to where companies can find lower costs and better profits. So, the Fed hit the economy and the middle-class, what I call fly-over America, with a double whammy. The Fed’s 2% inflation drove jobs offshore and undermined wages and the middle-class economy. At the same time, it vastly inflated and subsidized a massive gambling spree and financial asset inflation on Wall Street. . . . Not only was this (Fed) policy the enemy of MAGA . . . it also created a dangerous distortion in the distribution of national wealth.”

Stockman points out that debt is the highest ever in almost every sector of the economy, and much of it is never getting paid back. Is there a big global default coming? Stockman says, “Yes, it is very likely, and this is why it is so dangerous to be in the stock market today because the whole thing is propped up by debt. As soon as the defaults begin to cascade through the system, there is going to be a tremendous correction. At the same time this debt was exploding from $40 trillion to $250 trillion (globally), the balance sheet of the central banks went from $2 trillion to $25 trillion. . . . The central banks of the world have taken their balance sheets from $2 trillion to $25 trillion in roughly two decades, and all of that is one giant fraud because to buy all those assets . . . they just made it up. It was fiat credit. They issued credit . . . made out of thin air. So, what we have in the world economy underpinning this $250 trillion of debt is a massively bloated and fraudulent central banking system and balance sheet that made all this possible.”

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Jim

If it is a barbaric relic, why is everyone having a hard time getting their (!) gold back?

Dave

‘Just Bring The Gold Back’: RBA Responds As Conspiracy Theories Swirl Around Australia’s ‘Missing’ Gold
November 21, 2018

Is Australia’s gold really being secretly melted down and sold to the Chinese?

If you’re into conspiracy theories, talk of impending global economic collapse and have a deep distrust of central banks, you may have come across this one.

It goes like this. Most people would be aware that the Reserve Bank of Australia, like all central banks around the world, holds a portion of the country’s reserve assets in gold.

What you may not know, because it was only made public in December 2012, is that 99.9 per cent of Australia’s $4.4 billion worth is actually held by the Bank of England.

Of that gold, 11 tonnes is “leased” out to earn interest — it brought in around $700,000 last year — while the other 69 tonnes is sitting in a vault in London. Or is it?

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Jim,

First the Comex could not deliver and we got exchange for physical. Now London is empty. Look for gold prices to rise.

Dave

Refusal To Hand Over Venezuelan Gold Means End Of Britain As A Financial Center – Prof. Wolff
January 30, 2019

The freezing of Venezuelan gold by the Bank of England is a signal to all countries out of step with US interests to withdraw their money, according to economist and co-founder of Democracy at Work, Professor Richard Wolff.

He told RT America that Britain and its central bank have shown themselves to be “under the thumb of the United States.”

“That is a signal to every country that has or may have difficulties with the US, [that they had] better get their money out of England and out of London because it’s not the safe place as it once was,” he said.

The Bank of England is currently withholding $1.2 billion in gold from Venezuelan President Nicolas Maduro’s government, but is being urged by Washington to release it to the chairman of the National Assembly, Juan Guaido. Last week, the US backed Guaido as the legitimate president of Venezuela, after he declared himself interim president.

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Jim,

This is the point I was making on Saturday. The American Police State does not discriminate.

Jackboots in the Morning: No One Is Spared From This American Nightmare
January 29, 2019

“This is jackboots in the morning. This is an American nightmare that they would arrest somebody like this.”—Judge Andrew Napolitano

The American Police State does not discriminate.

Whatever dangerous practices you allow the government to carry out now—whether it’s in the name of national security or protecting America’s borders or making America great again—rest assured, these same practices can and will be used against you when the government decides to set its sights on you.

We’ve been having this same debate about the perils of government overreach for the past 50-plus years, and still we don’t seem to learn, or if we learn, we learn too late.

For too long now, the American people have allowed their personal prejudices and politics to cloud their judgment and render them incapable of seeing that the treatment being doled out by the government’s lethal enforcers has remained consistent, no matter the threat.

All of the excessive, abusive tactics employed by the government today—warrantless surveillance, stop and frisk searches, SWAT team raids, roadside strip searches, asset forfeiture schemes, private prisons, indefinite detention, militarized police, etc.—will eventually be meted out on the general populace.

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Jim,

John Williams, of Shadow Stats, would tell us India is not the only country hiding data.

Dave

India’s Leader Is Accused of Hiding Unemployment Data Before Vote
January 31, 2019

NEW DELHI — When voters swept Prime Minister Narendra Modi into power five years ago, it was in no small part because of his vows to create millions of jobs and vault India into an era of prosperity.

But now, just months before the next general election, Mr. Modi is facing a potentially troublesome challenge on the jobs promises that may be partly of his own making.

His government was accused on Thursday of suppressing an official report on the national unemployment rate that apparently showed it had reached a 45-year high in 2017.

The Business Standard, a respected Indian financial newspaper, published leaked findings from the unemployment report, which is based on a survey and produced by the National Sample Survey Office, a government agency.

There had been expectations that the report would be released in December. Two commissioners responsible for reviewing data in the report, who had advocated releasing it, resigned in protest this week.

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Jim,

This would be a war with no winners.

Dave

President Putin Working Meeting With Lavrov And Shoigu Regarding INF Treaty
February 02, 2019

President of Russia Vladimir Putin: Foreign Minister Sergei Lavrov, please provide an update on the Treaty on the Elimination of Intermediate-Range and Shorter-Range Missiles, and the disarmament dossier in general. What is going on in terms of limitation of offensive arms?

Foreign Minister Sergey Lavrov: Mr President,

Regarding the Intermediate-Range Nuclear Forces Treaty, as you know, it has been in force since 1988. It had an indefinite term. According to the information at our disposal, the United States has been violating the Treaty since 1999, when it started testing combat unmanned aerial vehicles that have the same characteristics as land-based cruise missiles banned by the Treaty.

The United States went on to use ballistic target missiles for testing their missile defence system, and in 2014 they began the deployment in their missile defence system positioning areas in Europe of Mk 41 vertical launching systems. These launchers are fully suitable as they are for Tomahawk intermediate-range attack missiles.

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Bill,

Gambling with the house money and losing.

Dave

Abenomics Harpoons Japan’s Pension ‘Whale’
February 2, 2019

If Japan’s Prime Minister Shinzo Abe wonders about the cost of delaying vital reforms for six-plus years now, he has a Hungary-sized demonstration.

Japan’s Government Pension Investment Fund, the world’s largest of the genre, just posted a record $136 billion loss. That’s roughly equivalent to Hungary’s annual gross domestic product. With $1.39 trillion of total assets left, “The Whale,” as locals call it, could be the investment world’s biggest Abenomics casualty.

Ostensibly, GPIF fell victim to last quarter’s spectacular equities rout. The benchmark Nikkei 225 index alone lost 12% in 2018.

Yet it’s important to recognize how Prime Minister Abe’s policies aren’t just slamming the banking industry, but many a retiree in the world’s fastest-aging major economy.

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