Wednesday, November 12, 2014

UBS To Settle Gold/Silver Manipulation Activities

The Financial Times is reporting that UBS has agreed to settle charges against it by the UK’s Financial Conduct Authority that it engaged in the manipulation of the gold and silver markets.  While it may come as a surprise to chart wranglers like Trader Dan or interminably hot air windbags like Dennis Gartman and Martin Armstrong that gold and silver are manipulated by the big bullion banks, UBS has de facto admitted to such illegal activity.
This comes on the heels of a £1.5 billion pound ($2.4 billion) settlement agreement (to be announced Wednesday) that includes UBS, Barclays, Citigroup, HSBC, JP Morgan and RBS connected to charges of foreign exchange market rigging.

Swiss Regulator: “Clear Attempt To Manipulate Precious Metals ” … “Particularly Silver”

Switzerland’s regulator found “serious misconduct” by UBS AG (UBSN) employees in precious metals trading, particularly with silver, as part of its review of the bank’s foreign-exchange business. Electronic chats played a “key” role in the improper conduct in foreign exchange and precious metals trading, the Swiss Financial Market Supervisory Authority, or Finma, said in a statement today. It found front running, when traders profit from advance knowledge about a transaction expected to influence prices, over client orders for silver.
Click here to read more at Bloomberg.com

Wednesday, August 20, 2014

CFTC Charges J.P. Morgan Securities LLC with Repeatedly Submitting Inaccurate Large Trader Reports and Imposes a $650,000 Civil Monetary Penalty

Washington, DC - The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against J.P. Morgan Securities LLC (JPMS), a wholly-owned subsidiary of JPMorgan Chase & Co. and a CFTC-registered Futures Commission Merchant (FCM), for submitting inaccurate reports to the CFTC relating to the required reporting of positions held by certain large traders whose accounts are carried by JPMS. The reporting violations occurred despite the CFTC notifying JPMS of numerous errors in its reports. The CFTC Order requires JPMS to pay a $650,000 civil monetary penalty to address its unlawful conduct. Click Here To Read More At CFTC.GOV

Thursday, August 7, 2014

Russia, India to ink $40 bn gas deal: Reports

Russian President Vladimir Putin and Indian Prime Minister Narendra Modi are expected to announce a massive natural gas deal during their summit later this year, Indian media reports said Monday.
Russian and Indian officials are negotiating a $40 billion gas pipeline project from Russia to India, oil ministry officials told Indian daily Hindustan Times.
“Russia so far has directed majority of its oil and gas supplies to the West… however, the scenario may be quiet different in the coming years especially in the wake of its gas pipeline to China and the one now proposed till India,” an Indian government official said

Petrodollar Under Threat As Russia And Iran Sign Historic 500,000 Barrel A Day Oil Deal!

Russia Delivers Blow To Petrodollar In Historic $20 Billion Iran Oil Deal
Russia signed a historic $20 billion oil deal with Iran to bypass both western sanctions and the dollar based western monetary system on 8/5/14.

Currency wars are set to escalate as the petro dollar’s decline continues.  

Russian Energy Minister Alexander Novak and his Iranian counterpart Bijan Zanganeh signed a five-year memorandum of understanding in Moscow, which included cooperation in the oil sector.

"Based on Iran's proposal, we will participate in arranging shipments of crude oil, including to the Russian market," Novak was quoted as saying.

Wednesday, July 9, 2014

Karen Hudes Introduces Us To Wolfgang Struck

Most Americans Still Don't know That The Federal Reserve Banks Are PRIVATE!!

Most Americans Still Don’t Know that Federal Reserve Banks Are Private Corporations The country’s most powerful “agency” – the Federal Reserve – is actually no more federal than Federal Express.  
The U.S. Supreme Court ruled in 1928:
Instrumentalities like the national banks or the federal reserve banks, in which there are private interests, are not departments of the government. They are private corporations in which the government has an interest.

The long-time Chairman of the House Banking and Currency Committee (Charles McFadden) said on June 10, 1932:
Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies ….

The Fed itself admitted (via Bloomberg): While the Fed’s Washington-based Board of Governors is a federal agency subject to the Freedom of Information Act and other government rules, the New York Fed and other regional banks maintain they are separate institutions, owned by their member banks, and not subject to federal restrictions. For that reason, the New York Fed alleged in the lawsuit brought by Bloomberg to force the Fed to reveal some information about its loans – Bloomberg LP v. Board of Governors of the Federal Reserve System, 08-CV-9595, U.S. District Court, Southern District of New York (Manhattan) – that it was not subject to Federal Freedom of Information Act. As Bloomberg reported in a separate article: The Federal Reserve Bank of New York … runs most of the lending programs. Most documents relevant to [a freedom of information lawsuit filed by Bloomberg news] are at the New York Fed, which isn’t subject to FOIA law [a law which applies to Federal agencies], according to the central bank. The Board of Governors has 231 pages of documents, to which it is denying access under an exemption for trade secrets.

San Francisco Federal Reserve research analyst David Lang confirmed in 2011: [Question]: “I had a really quick question, the Federal Reserve Bank of San Francisco specifically, is that formed as a private corporation itself?” David Lang: “Ah yes it is actually. yes our state chartered banks, banks under a charter share that and we pay a dividend on those shares.”

The senior counsel for the Federal Reserve confirmed in a court hearing in the Bloomberg lawsuit that the Federal Reserve Banks are “independent corporations”, which are “not agencies”, are “privately held”, and have “private boards of directors”. Postscript: The Bank of International Settlements (BIS) – which is the “Central Banks’ Central Bank” – is, in turn, owned by the Fed and other central banks: The BIS is a closed organization owned by the 55 central banks. The heads of these central banks travel to the Basel headquarters once every two months, and the General Meeting, the BIS’s supreme executive body, takes place once a year. So the private banks own the Fed (and other central banks), and the central banks own BIS.

Friday, May 30, 2014

2014 List Of Participants In Copenhagen, Denmark May 29 - June 1





Current list of Participants – Status 26 May 2014
Chairman
FRA Castries, Henri de Chairman and CEO, AXA Group
DEU Achleitner, Paul M. Chairman of the Supervisory Board, Deutsche Bank AG
DEU Ackermann, Josef Former CEO, Deutsche Bank AG
GBR Agius, Marcus Non-Executive Chairman, PA Consulting Group
FIN Alahuhta, Matti Member of the Board, KONE; Chairman, Aalto University Foundation
GBR Alexander, Helen Chairman, UBM plc
USA Alexander, Keith B. Former Commander, U.S. Cyber Command; Former Director, National Security Agency
USA Altman, Roger C. Executive Chairman, Evercore
FIN Apunen, Matti Director, Finnish Business and Policy Forum EVA
DEU Asmussen, Jörg State Secretary of Labour and Social Affairs
HUN Bajnai, Gordon Former Prime Minister; Party Leader, Together 2014
GBR Balls, Edward M. Shadow Chancellor of the Exchequer
PRT Balsemão, Francisco Pinto Chairman, Impresa SGPS
FRA Baroin, François Member of Parliament (UMP); Mayor of Troyes
FRA Baverez, Nicolas Partner, Gibson, Dunn & Crutcher LLP
USA Berggruen, Nicolas Chairman, Berggruen Institute on Governance
ITA Bernabè, Franco Chairman, FB Group SRL
DNK Besenbacher, Flemming Chairman, The Carlsberg Group
NLD Beurden, Ben van CEO, Royal Dutch Shell plc
SWE Bildt, Carl Minister for Foreign Affairs
NOR Brandtzæg, Svein Richard President and CEO, Norsk Hydro ASA
INT Breedlove, Philip M. Supreme Allied Commander Europe
AUT Bronner, Oscar Publisher, Der STANDARD Verlagsgesellschaft m.b.H.
SWE Buskhe, Håkan President and CEO, Saab AB
TUR Çandar, Cengiz Senior Columnist, Al Monitor and Radikal
ESP Cebrián, Juan Luis Executive Chairman, Grupo PRISA
FRA Chalendar, Pierre-André de Chairman and CEO, Saint-Gobain
CAN Clark, W. Edmund Group President and CEO, TD Bank Group
INT Coeuré, Benoît Member of the Executive Board, European Central Bank
IRL Coveney, Simon Minister for Agriculture, Food and the Marine
GBR Cowper-Coles, Sherard Senior Adviser to the Group Chairman and Group CEO, HSBC Holdings plc
BEL Davignon, Etienne Minister of State
USA Donilon, Thomas E. Senior Partner, O’Melveny and Myers; Former U.S. National Security Advisor
DEU Döpfner, Mathias CEO, Axel Springer SE
GBR Dudley, Robert Group Chief Executive, BP plc
FIN Ehrnrooth, Henrik Chairman, Caverion Corporation, Otava and Pöyry PLC
ITA Elkann, John Chairman, Fiat S.p.A.
DEU Enders, Thomas CEO, Airbus Group
DNK Federspiel, Ulrik Executive Vice President, Haldor Topsøe A/S
USA Feldstein, Martin S. Professor of Economics, Harvard University; President Emeritus, NBER
CAN Ferguson, Brian President and CEO, Cenovus Energy Inc.
GBR Flint, Douglas J. Group Chairman, HSBC Holdings plc
ESP García-Margallo, José Manuel Minister of Foreign Affairs and Cooperation
USA Gfoeller, Michael Independent Consultant
TUR Göle, Nilüfer Professor of Sociology, École des Hautes Études en Sciences Sociales
USA Greenberg, Evan G. Chairman and CEO, ACE Group
GBR Greening, Justine Secretary of State for International Development
NLD Halberstadt, Victor Professor of Economics, Leiden University
USA Hockfield, Susan President Emerita, Massachusetts Institute of Technology
NOR Høegh, Leif O. Chairman, Höegh Autoliners AS
NOR Høegh, Westye Senior Advisor, Höegh Autoliners AS
USA Hoffman, Reid Co-Founder and Executive Chairman, LinkedIn
CHN Huang, Yiping Professor of Economics, National School of Development, Peking University
USA Jackson, Shirley Ann President, Rensselaer Polytechnic Institute
USA Jacobs, Kenneth M. Chairman and CEO, Lazard
USA Johnson, James A. Chairman, Johnson Capital Partners
USA Karp, Alex CEO, Palantir Technologies
USA Katz, Bruce J. Vice President and Co-Director, Metropolitan Policy Program, The Brookings Institution
CAN Kenney, Jason T. Minister of Employment and Social Development
GBR Kerr, John Deputy Chairman, Scottish Power
USA Kissinger, Henry A. Chairman, Kissinger Associates, Inc.
USA Kleinfeld, Klaus Chairman and CEO, Alcoa
TUR Koç, Mustafa Chairman, Koç Holding A.S.
DNK Kragh, Steffen President and CEO, Egmont
USA Kravis, Henry R. Co-Chairman and Co-CEO, Kohlberg Kravis Roberts & Co.
USA Kravis, Marie-Josée Senior Fellow and Vice Chair, Hudson Institute
CHE Kudelski, André Chairman and CEO, Kudelski Group
INT Lagarde, Christine Managing Director, International Monetary Fund
BEL Leysen, Thomas Chairman of the Board of Directors, KBC Group
USA Li, Cheng Director, John L.Thornton China Center,The Brookings Institution
SWE Lifvendahl, Tove Political Editor in Chief, Svenska Dagbladet
CHN Liu, He Minister, Office of the Central Leading Group on Financial and Economic Affairs
PRT Macedo, Paulo Minister of Health
FRA Macron, Emmanuel Deputy Secretary General of the Presidency
ITA Maggioni, Monica Editor-in-Chief, Rainews24, RAI TV
GBR Mandelson, Peter Chairman, Global Counsel LLP
USA McAfee, Andrew Principal Research Scientist, Massachusetts Institute of Technology
PRT Medeiros, Inês de Member of Parliament, Socialist Party
GBR Micklethwait, John Editor-in-Chief, The Economist
GRC Mitsotaki, Alexandra Chair, ActionAid Hellas
ITA Monti, Mario Senator-for-life; President, Bocconi University
USA Mundie, Craig J. Senior Advisor to the CEO, Microsoft Corporation
CAN Munroe-Blum, Heather Professor of Medicine and Principal (President) Emerita, McGill University
USA Murray, Charles A. W.H. Brady Scholar, American Enterprise Institute for Public Policy Research
NLD Netherlands, H.R.H. Princess Beatrix of the
ESP Nin Génova, Juan María Deputy Chairman and CEO, CaixaBank
FRA Nougayrède, Natalie Director and Executive Editor, Le Monde
DNK Olesen, Søren-Peter Professor; Member of the Board of Directors, The Carlsberg Foundation
FIN Ollila, Jorma Chairman, Royal Dutch Shell, plc; Chairman, Outokumpu Plc
TUR Oran, Umut Deputy Chairman, Republican People’s Party (CHP)
GBR Osborne, George Chancellor of the Exchequer
FRA Pellerin, Fleur State Secretary for Foreign Trade
USA Perle, Richard N. Resident Fellow, American Enterprise Institute
USA Petraeus, David H. Chairman, KKR Global Institute
CAN Poloz, Stephen S. Governor, Bank of Canada
INT Rasmussen, Anders Fogh Secretary General, NATO
DNK Rasmussen, Jørgen Huno Chairman of the Board of Trustees, The Lundbeck Foundation
INT Reding, Viviane Vice President and Commissioner for Justice, Fundamental Rights and Citizenship, European Commission
USA Reed, Kasim Mayor of Atlanta
CAN Reisman, Heather M. Chair and CEO, Indigo Books & Music Inc.
NOR Reiten, Eivind Chairman, Klaveness Marine Holding AS
DEU Röttgen, Norbert Chairman, Foreign Affairs Committee, German Bundestag
USA Rubin, Robert E. Co-Chair, Council on Foreign Relations; Former Secretary of the Treasury
USA Rumer, Eugene Senior Associate and Director, Russia and Eurasia Program, Carnegie Endowment for International Peace
NOR Rynning-Tønnesen, Christian President and CEO, Statkraft AS
NLD Samsom, Diederik M. Parliamentary Leader PvdA (Labour Party)
GBR Sawers, John Chief, Secret Intelligence Service
NLD Scheffer, Paul J. Author; Professor of European Studies, Tilburg University
NLD Schippers, Edith Minister of Health, Welfare and Sport
USA Schmidt, Eric E. Executive Chairman, Google Inc.
AUT Scholten, Rudolf CEO, Oesterreichische Kontrollbank AG
USA Shih, Clara CEO and Founder, Hearsay Social
FIN Siilasmaa, Risto K. Chairman of the Board of Directors and Interim CEO, Nokia Corporation
ESP Spain, H.M. the Queen of
USA Spence, A. Michael Professor of Economics, New York University
FIN Stadigh, Kari President and CEO, Sampo plc
USA Summers, Lawrence H. Charles W. Eliot University Professor, Harvard University
IRL Sutherland, Peter D. Chairman, Goldman Sachs International; UN Special Representative for Migration
SWE Svanberg, Carl-Henric Chairman, Volvo AB and BP plc
TUR Taftalı, A. Ümit Member of the Board, Suna and Inan Kiraç Foundation
USA Thiel, Peter A. President, Thiel Capital
DNK Topsøe, Henrik Chairman, Haldor Topsøe A/S
GRC Tsoukalis, Loukas President, Hellenic Foundation for European and Foreign Policy
NOR Ulltveit-Moe, Jens Founder and CEO, Umoe AS
INT Üzümcü, Ahmet Director-General, Organisation for the Prohibition of Chemical Weapons
CHE Vasella, Daniel L. Honorary Chairman, Novartis International
FIN Wahlroos, Björn Chairman, Sampo plc
SWE Wallenberg, Jacob Chairman, Investor AB
SWE Wallenberg, Marcus Chairman of the Board of Directors, Skandinaviska Enskilda Banken AB
USA Warsh, Kevin M. Distinguished Visiting Fellow and Lecturer, Stanford University
GBR Wolf, Martin H. Chief Economics Commentator, The Financial Times
USA Wolfensohn, James D. Chairman and CEO, Wolfensohn and Company
NLD Zalm, Gerrit Chairman of the Managing Board, ABN-AMRO Bank N.V.
GRC Zanias, George Chairman of the Board, National Bank of Greece
USA Zoellick, Robert B. Chairman, Board of International Advisors, The Goldman Sachs Group
AUT Austria
BEL Belgium
CAN Canada
CHE Switzerland
CHN China
DEU Germany
DNK Denmark
ESP Spain
FIN Finland
FRA France
GBR Great Britain
GRC Greece
HUN Hungary
INT International
IRL Ireland
ITA Italy
NLD Netherlands
NOR Norway
PRT Portugal
SWE Sweden
TUR Turkey
USA United States of America

Bilderberg Member Comes Out To The Fence And Talks To Protesters!

WOW! Bilderberg Attendee, Dutch MP Diederik Samsom Talks to Protesters

Tuesday, May 20, 2014

Russia’s VTB and Bank of China agree on domestic currency settlements With No Use Of The U.S. Dollar!!

VTB, Russia’s second biggest lender, has signed a deal with Bank of China, which includes an agreement to pay each other in domestic currencies.
“Under the agreement, the banks plan to develop their partnership in a number of areas, including cooperation on ruble and renminbi settlements, investment banking, inter-bank lending, trade finance and capital-markets transactions,” says the official VTB statement.
The deal underlines VTB Group’s growing interest in Asian markets and will help grow trade between Russia and China that are already close trading partners, said VTB Bank Management Board Vasily Titov.

Wednesday, May 14, 2014

Russia strives to exclude the dollar from energy trading

Russian press reports that the country's Ministry of Finance is ready to greenlight a plan to radically increase the role of the Russian ruble in export operations while reducing the share of dollar-denominated transactions. Governmental sources believe that the Russian banking sector is "ready to handle the increased number of ruble-denominated transactions".

Click here to read more at Voiceofrussia.com
Read more: http://voiceofrussia.com/2014_05_13/Russia-strives-to-exclude-the-dollar-from-energy-trading-5138/

Thursday, March 27, 2014

Russia Raises Gold Holdings By Over 7 Tonnes In February To Over 1,040 Tonnes

Russia has increased its gold holdings by 7.247 tonnes to 1,042 tonnes in February. Turkey and Kazakhstan also raised their bullion reserves, data from the International Monetary Fund showed today.
Turkey's gold holdings rose 9.292 tonnes to 497.869 tonnes, the data showed.

Iraq's central bank bought 36 Tons of gold in March 2014

(Reuters) - The Central Bank of Iraq has bought 36 tonnes of gold this month, it said in a statement on Tuesday, in a bid to help stabilise the exchange rate of the Iraqi dinar against othercurrencies.
The purchase marks the first addition to Iraq's gold reserves since it lifted its holdings by 23.9 tonnes in August 2012, according to data from the International Monetary Fund.

Added to the 29.8 tonnes the World Gold Council says it already held, the purchase brings Iraq's total gold holdings to 65.8 tonnes, making it the 43rd largest official sector bullion holder in the world, after Denmark and just ahead of Pakistan.

Monday, March 17, 2014

America In 1900 Oh How Things Have Changed.

Written By Mike King:
It is the dawn of the 20th Century. In just over a century's time, the United States of America has grown from a sparsely populated group of post-colonial States, into the most virtuous, richest, strongest, and happiest nation on earth. During this time, America has overcome a devastating Civil War and the painful Southern Reconstruction.
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From "sea to shining sea", America's industrial cities, bustling ports, rich farms, and world class Universities are the envy of the modern world. America's population (now about 80 million) is upwardly mobile and highly literate. The Middle Class is booming as opportunity seeking European immigrants clamor to get in. America's Black population, though only a generation removed from slavery and still segregated, is also making undeniable material progress.
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In this rapidly developing "land of opportunity" there are no Federal Income Taxes, no State Income Taxes, no Sales Taxes, no Social Security Taxes, no Capital Gains Taxes, no IRS, no Department of Homeland Security, no Department of Education, no Welfare schemes, no Central Bank, very little debt, and a sound currency backed by Gold and Silver.
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There are no limits for a free people enjoying the fruits of a free market, an honest currency, and a government strictly limited in its size and power. In the fresh air of liberty, invention and innovation thrive. The list of history changing American inventors produced in this environment is indeed astonishing: Robert Fulton (Steam Boat), Eli Whitney (Cotton Gin), Thomas Edison (Modern Light Bulb & Phonograph to name a few), Serbian-American Nicola Tesla (Commercial Electricity), Cyrus McCormick (Mechanical Reaper), Alexander Graham Bell (Telephone), The Wright Brothers (Airplane), and many more.  
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 On the cultural front, American artists and literary figures are gaining wide renown, impressing even the more culturally advanced Europeans. Names like Mark Twain, Herman Melville, and Edgar Allen Poe rank with Europe's finest writers.
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In foreign commerce and relations, Americans are a peace loving people who have no interest in embroiling their young country in Europe's intrigues and squabbles.
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America's prosperity affords many of its people the luxury of increasing leisure time. From this free time grow Sports Leagues such as Baseball's National League (1876), to be followed by the American League (1901).  College football has exploded in popularity, with the first professional teams to form in the early years of the new century. Millions of young men sharpen their bodies and mental toughness by competing in all varieties of Sports.
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As for the women folk, the ladies of America are exactly that, ladies. Women are family oriented, valued for their sweet demeanor, and respected for their virtue. If a young American buck expects to get intimate with a young lady, he had better grow up, get a job and marry the lass, lest her daddy chase him off with a shotgun!
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America's children are raised to respect their God, their parents, their elders, and their teachers. Mouthing off to the teacher would get you smacked upside the head, and then again when your parents found out!
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Underpinning America's foundation of tiny government, free enterprise, and peaceful commerce, is the common Christian morality, self-control, industriousness, and true goodness of the American people. Grown children take care of their elderly parents and other relatives. Strong families, active churches, and community groups take care of the unfortunate. Government welfare is neither needed, nor desired.
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As "The Gay Nineties" ('gay' as in happy!) draw to a close, America the Beautiful seems poised to prosper for centuries to come. With the new technologies and industrial advances to come (automobiles, electricity etc.) there is no telling what new heights of universal happiness and prosperity await the lucky inhabitants of the young and confident Republic.
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But way beneath the surface, invisible to most, a well-funded and organized "Advance Guard" of termites has been arriving in America since the 1880's. These "Reds", aka "Marxists", aka "The Left", aka "Progressives", bring with them the disease of "liberalism" that has already been plaguing Europe since the days of the French Revolution. Their long range plan is to undermine the Americans way of life and system of limited government, and to erect a centralized socialist system in its place.
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In order to grow their ranks, Red leaders skillfully exploit the admitted imperfections of America. By 1900, the imported, mainly Jewish-Zionist Marxists, have joined forces with power hungry, Anglo-American Money Kings like JP Morgan and John D Rockefeller. The Red Money Kings "in the suites" will use the Red agitators "in the streets" to slowly change a free, virtuous, prosperous, and peaceful Republic, into the centrally controlled, degenerate, bankrupt, and warmongering cesspool that is modern America under Barack Obama.  
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So, what the heck happened America?
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It's all very simple! Step into our time machine and let us review "the 37 nails in the coffin of the USA." 

Saturday, March 8, 2014

S. Korea, Indonesia Sign US$10 Billion Currency Swap Deal!!

SEOUL, March 6 (Yonhap) – South Korea and Indonesia signed a won-rupiah currency swap deal worth US$10 billion in a bid to strengthen financial cooperation between the two nations, the Bank of Korea (BOK) said Thursday.
With the deal, Seoul and Jakarta can exchange up to 10.7 trillion won or 115 trillion rupiah (US$10.0 billion) for three years, the central bank said. The three-year currency swap could be renewed if both sides agree at the time of expiration, it added.
The deal was signed by BOK Gov. Kim Choong-soo and his Indonesian counterpart Agus D.W. Martowardojo in Jakarta. The two nations agreed on the currency swap in October.
Click here to read more at http://www.businesskorea.co.kr/

Friday, March 7, 2014

S.Korea, Australia sign currency swap agreement to promote trade

SEOUL, Feb. 23 (Xinhua) -- South Korea and Australia have signed a currency swap agreement to help promote bilateral trade and trade settlement in local currencies even in times of financial stress, Seoul's central bank said Sunday.
Bank of Korea (BOK) Governor Kim Choong-soo and his Australian counterpart Glenn Stevens signed the currency swap deal Sunday in Sydney, the BOK said in a statement. The two central bank chiefs were staying in Sydney to attend the meeting of G20.
The deal will allow for the exchange of local currencies between the two central banks of up to 5 trillion won (4.5 billion U.S. dollars) or 5 billion Australian dollars for three years. The period could be extended by mutual consent of both sides.

Chinese yuan deposits in S.Korea surge on arbitrage trading

SEOUL, March 7 (Xinhua) -- Deposits denominated in the Chinese yuan rose more than 20 times over the past six months in South Korea as local financial institutions raised yuan deposits for arbitrage trading, central bank data showed Friday.
Yuan deposits reached 7.62 billion U.S. dollars as of the end of February, up from 310 million dollars at the end of August last year, according to the Bank of Korea (BOK).
The surge came after financial institutions increased arbitrage trading by converting the South Korean currency into the Chinese yuan to gain interest rate differentials amid expectations for the yuan's appreciation against the dollar.

Wednesday, January 29, 2014

BILLIONAIRE HUGO SALINAS PRICE: EVERYTHING IN OUR MODERN WORLD IS A LIE (EXCLUSIVE INTERVIEW!)

Inteligencia Financiera Global blog (Global Financial Intelligence Blog) is honored to present an exclusive interview with the entrepreneur Hugo Salinas Price, by Guillermo Barba. We are sure our readers from around the world will enjoy it.
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- Mr. Salinas, thank you for accepting this interview.
As many people know, you have been an advocate for liberty, free markets and honest money among other topics. You are started the project-proposal of monetizing the pure silver coin in Mexico but, can your proposal be implemented in any country? What does it take to do that? Could gold be monetized the same way?
My proposal was, and is, to give a monetary value in local currency, to a silver coin which has no engraved value upon its face. The monetary value – higher than the value of the silver in the coin itself – could be quote, ideally from the Treasury. If the price of silver rises, this quote could be increased to give the silver coin a higher monetary value. (It could rise either because the price of silver in dollars has risen, or because the local currency has devalued.) But under no circumstances should the monetary value, once quoted, ever be reduced. If the value of the silver in the coin falls, the monetary value remains the same.