Thursday, 25 October 2012

Daily Reading Material Compilation 8.0

From within you will find
News, politics and financial crimes

Absorb what you read
And take what you need

In these rapidly changing times 

Monday, 15 October 2012

Daily Reading Material Compilation 7.0

Hello again to all my friends, I'm glad you came to read.
If current events you seek,
Then take a peek,
To find just what you need.
You'll open your eyes,
You'll laugh, you'll cry
And boggle at corporate greed 

Sunday, 14 October 2012

Daily Reading Material Compilation 6.0

Let's start off the day with some US Treasury Bill news! The past few days have seen bond auctions taking place on 3-year, 10-year and 30-year US Treasuries. Three-year and 10-year bonds saw a strong showing, with $32 billion sold for three-year bonds and $21 billion for 10-year bonds

U.S. Treasury Prices Jump After Strong 10-Year Note Sale

Investors took 1.70% yield on the 10-year bonds. This is seen as a good thing? The investors willingly took a pathetic yield - although I suppose that comparatively, it's higher than the past few years have allowed for. Still, terrible yields and risk of losing money if interest rates rise (admittedly not very likely) - plus more people are flocking to bonds and out of equity markets due to hugely increased volatility.

Then there's the whole US debt crisis thing...

Friday, 12 October 2012

Inversion of the First and Third Worlds

We, across the globe, are currently witnessing an inversion of the first and third worlds - or perhaps an integration of the two to a more even economic playing field.

This may sound outlandish, or, indeed, even impossible based on what we have been taught in first-world schools for decades, but reality tends to be stranger than fiction. One need only look at the deteriorating situations in Europe and the North America for an allusion to the disastrous times that are upon us - and the resulting repayment of the Karmic debt we have accrued in our lack of compassion and caring for the formerly less-fortunate nations across the globe.

European economies are falling like a house of cards (or dominos, if you prefer that particular simile) - exactly what can be expected from Ponzi schemes like that of the Euro. France, Germany and the UK (not part of the Eurozone, but in a tumultuous category all its own with its double-dip recession and edging towards a triple-dip in the coming months) are heading quickly into the toilet, which is in the final stages of being completely flushed of the waste that was deposited by the PIIGS countries and their co-opted and technocratic governments - and, of course, their Troika overlords.

Wednesday, 10 October 2012

Daily Reading Material Compilation 5.0

I've been extremely busy over the last few days and haven't had time to read as much as I usually do - but on the bright side I'm learning lots and progressing towards an exciting path and a new journey in my life!

In short, here are the articles I've been reading over the past few days:

4 Extremely Simple Ways to Destress Quickly - Just thought I would begin with an article on how to destress. These suggestions may seem pretty straightforward, but we can easily forget how to do these 4 things when we face overwhelming stress in our lives. Sometimes we need a reminder to just breathe, and to do things for ourselves to help us relax in the face of stressful times. Be sure to also check out the article they recommend at the end of this one, found here.

The Rothschild-Johnson Matthey Connection - Johnson & Matthey silver bars are being purchased by silver-stackers around the globe (including yours truly, although I've only got about 10oz. of JM silver as I  intuitively felt something was fishy with this particular purveyor) who are fighting back against the cartels that run the precious metals markets. But, in trying to fight against the corruption and illegality of market manipulation, are they playing (and putting money) into the hands of the very people they're fighting against?

Monday, 8 October 2012

Daily Reading Material Compilation 4.0

First, I'd like to give credit where credit is due. Without Max Keiser & Stacey Herbert, Tyler Durden, and Mark Obyrne I wouldn't be able to put these posts together. There are other sources I have, as well, but these three are where the bulk of the articles I actually decide to post come from. They do a fantastic job of compiling articles from around the web to share with their fans and I feel it my responsibility to share it with you, in turn.

Also, for those who are wondering - yes, I read pretty fast. Luckily - otherwise I'd spend all my free time reading this and have none left over for my lovely family.

Here's version 4.0:

A Jobs Report Conspiracy? - US jobs report claims 873,000 Americans found employment, dropping the unemployment rate from 8.1 to 7.8% according to the household survey data - in spite of the fact that the employers data only showed that 114,000 jobs were added in September. A discrepancy of about 759,000... Skeptical is a bit of an understatement for what I am on this data...

Another Phony Employment Report - Another article on the falsified and manipulated jobs report data

Sunday, 7 October 2012

Venezuelan Sovereignty Lives To See Another Day

Incumbent President, Hugo Chavez, has won Venezuela’s tightly-contested presidential elections, clinching a fourth term with 54 per cent of the vote, according to the National Electoral Council.

Polling stations were officially closed at 22:00 GMT (6 p.m. local time) on Sunday, but many stations remained open as the National Electoral Council (CNE) said the polling stations wouldn’t close until voters were no longer queuing to cast ballots.
The new leader will take office for a six-year term beginning February 2013.

There have been six candidates competing for the presidency in the current election. However since the very beginning, opinion polls suggested the race was between just two potential leaders.Incumbent President Hugo Chavez, representing the United Socialist Party of Venezuela, has proven prominent, but opposition candidate Henrique Capriles, representing the Coalition for Democratic Unity, has been biting at his heels throughout campaigning.Capriles is the first opposition candidate in Chavez’s 13 years in power. The current leader and his young pro-US rival have been neck-and-neck in opinion polls.

Saturday, 6 October 2012

Daily Reading Material Compilation 3.0

Here's my third round of daily reading material. I will say that I often read more than simply these articles, but I highlight the best ones on the day that I've read and present them here for your reading pleasure - in addition to the obvious informativeness that accompanies this type of reading.

The Coming Energy Shortage Will Exacerbate PEAK GOLD & SILVER - "energy is money.  Gold and Silver are only a physical accounting of energy.  Without ample energy supplies, gold and silver cannot be mined commercially." Supplies of gas and oil are dropping, and peak gold and silver are coming sooner than later.

The Incredibly Ballooning Bailout Of Cyprus
- Cyprus is requesting €20 billion to bail our their banks and government, while the average citizen is the one who takes the hits. They are doing this in spite of the fact that the communist president of the country, Demetris Christofias, called what the banks have done 'a crime'. Doesn't we usually arrest criminals, not give them €12 billion to continue their criminal activity?

Venice Latest In Europe To Seek Independence

Venice joins Scotland and Cataluñia as the latest region in Europe to declare their desire for independence from the nation to which they belong - Italy, the UK and Spain, respectively. Thousands gathered at a rally in Venice to proclaim their support for Venetian independence.

The man in the video, politician and professor of economics at Ca' Foscari University of Venice, Lodovico Pizzati claims that if they separated Venice "would be the second-richest country in Europe after Luxembourg".

Take a look at the video from RT News:

Friday, 5 October 2012

Living On The Edge

It would seem to me that when it comes to religion, politics, and other sensitive subjects people tend to get offended not necessarily because what you say is actually offensive, but rather because it makes them realize there is another side of the coin. Even to label something offensive is disingenuous as what offends one may resonate deep truth within another. Everything is about perspective, and when you are afraid to change your perspective this is most often where those sentiments of insult come from.

I will add a small caveat and say that there are, of course, things in this world that could be deemed egregiously offensive not out of a fear of differing views, but rather out of attacks on your humanity and spirit - on things you can't change. On who you are. Things meant to degrade, demean and disrespect, rather than to inspire thought. Diatribes, if you will.

However, aren't those, too, all relative? Even that is subject to the perspective of the individual.

I digress...

Being exposed to the other side of the coin can makes one see that there is another opinion that differs from theirs, and it can scare them. It scares them because it means they will have to delve deep inside of themselves, and maybe even mean that they have to go through a long and arduous process of questioning and restructuring current beliefs, or even develop and discover an entirely new system of beliefs. It can be mentally exhausting, and mental exhaustion takes its toll both short and long-term. Thus, it can be quite a daunting concept to question one's own beliefs - and this seems more true the longer those beliefs have been held by the individual.

When you cling to a belief system simply because you are afraid of exploring alternatives you do yourself a disservice. When you take offense to something so personally it is because somewhere deep inside what that person is saying rings true (see caveat) - otherwise, it would be a mere absurdity that you could laugh off or disregard without any negative physical or emotional effect.

But is it not best to face our fears head on? Is that not when the most progress in terms of personal, professional and spiritual growth are achieved? Are we so determined to label the world as one thing or another that we will disregard all logic-substantiated arguments to the contrary? (The key words, of course, being logic-substantiated). Is it not best to embody humility and admit when we may have been wrong?

I can honestly say that I have weighed both sides of the coin in my beliefs because I believe it's the only way to truly come to understand what belief system rings true deep inside you. I am not afraid if, at some point, I reassess and determine that I was wrong. I can also say that throughout my life I will continue to look at the heads and tails of things in order to maintain a third perspective beyond those two options - objectivity. The edge of the coin, if you will.

I suppose, to conclude rather simply, that I can surmise that I like to live on the edge. Comme ça, je suis à l'aise. Et vous?

Genocidal Monsanto Wins Again - EFSA Rejects French Study On Monstanto's NK603 Corn With No Explanation

I'm incredulous. Not only did the EFSA today outright reject the findings of the 2-year French study that was recently released on NK603 GMO corn from Monsanto(which is somewhat understandable, as the data is incomplete - which doesn't detract from the validity of the findings in this author's opinion, and at the very least demonstrates that it should beget further extensive testing, study and analysis) and its effects on rats over a 2-year lifespan, but they also failed to provide a satisfactory explanation as to why they rejected it beyond "we don't think it's good science".

It also bears mentioning that Russia used the study as a partial justification to completely ban NK603 corn in the country. Hungary culled all of the GMO corn being grown in the country and has a ban on GMO foods, as well - although that wasn't directly related to this study. So, too, have Germany, Greece, Austria, Luxembourg and the UK banned GMO foods out of concern over the safety of the products.

Thankfully, the French study on the safety of GMO corn has indeed sparked much further interest in studying the effects of GMO products - including a Russian study that will broadcast their study live 24/7 for purposes of complete transparency.

The lead scientist conducting the research, Gilles-Eric Seralini, had this to say:

Thursday, 4 October 2012

Daily Reading Material Compilation 2.0

Here are some of the things I've read for the day. I'll start doing these kinds of posts on a daily basis (or at least the days I log on to post) so people can check out articles that I've read.

This way, I can invest my time into putting focus on bigger articles about issues I find more important. Time is an elusive thing these days as they seem to be going by faster and faster.

In any case, enjoy!

Whole Foods Censors GMO Expose? - GMO products are being sold in Whole Foods stores, who had purported to sell only organic produce in their stores

Rob Kirby: The Genesis of the LIBOR Crisis - Amazing breakdown of how the Fed/Treasury colluded with JPMorgan in 2007 to attempt to restart the stalled financial markets after the sub-prime mortgage crisis - which ended up having the effect of dropping short-term T-Bill rates a staggering 200 basis points from 5% to 3%. This, in turn, helped to catalyze (or perhaps stoke further) LIBOR manipulation.

Exclusive: Banks Fire Warning Over Fines - bankers threatening to collapse the economy - again?

'Mugabenomics' From Zimbabwe To The UK - "Gold Is Good" - "US economy is in a recession and may be on the verge of a Depression." What will come out safe? PMs!

From Currency Debasement To Social Collapse: 4 Case Studies - This article blew my mind. Periods throughout history when currency debasement has caused debasement of society and deterioration of trust amongst everyone - Third Century Rome (Christians Persecuted), Medieval Europe (Witches Persecuted), The French Revolution (nobles and counter-revolutionaries persecuted, 1920s Germany (Jews ultimately persecuted) - all preceded by hyperinflationary periods and currency debasement.

Signs of the Gold Standard Emerging In China? - Forbes article. Good read.

Signs of the Gold Standard Are Emerging From Germany - See a pattern?

There were more, but I'll save it for another day.

To close, I'll leave you with a video of a 2010 ad from Citizens Against Government Waste (CAGW)
to mull over.

Stay tuned for tomorrow's update!

Obscure Websites Claim FBI Issued Jamie Dimon Arrest Warrant - I Remain Unconvinced

This and a few other obscure websites have made claims that there has been an arrest warrant issued for Jamie Dimon, CEO of JPMorgan Chase & Co. Oh, and one from 2010 having to do with an illegal tire dump - and that warrant was subsequently dropped after the matter was settled.

I must say, the sources on this are rather suspect. Further fact-checking by yours truly didn't yield many similar results - with the exception of the aforementioned obscure websites posting copies of the same information.

Fortunately it will be easy to know within a few weeks if this is true or not. After all, J-Dime (I'll coin that one here and now) is hardly difficult to find - as Occupy Wall St. protesters last year proved, surrounding his house during one of their protests.

We'll see if anything comes of this. I'm guessing it won't, but I've been wrong before. You can never really trust unknown freelance/independent journos who claim their "sources" told them something - especially with no proven track record to bolster their reputability.

Yet again, time's sage wisdom will reveal the truth. We need only wait for its passing. Until then, I remain skeptical, to say the least.

Rabbi/Christian-Sponsored Pro-Muslim Ads To Appear In NYC

‘Choose love’: Pro-Muslim ads to appear in NYC subways 

In a follow-up to a post I made previously, Anti-Islamic Propaganda - Nazi Germany ain't got nothin' on US in regards to the malevolent ads posted in New York Subways, there are some very positive pro-muslim, pro-love, anti-hate ads set to go up in response.

RT news reports that the group called Rabbis for Human Rights - North America and Sojourners Christian group are responsible for the new ads in a joint effort to combat the hate spread by the pro-Israel, anti-Muslim ads that went up in New York City a few weeks ago.


They are to appear beside the anti-Muslim ads in subways and bus stations that housed the hate-speak ads, which were sponsored by the American Freedom Defense Initiative (AFDI) and their executive director, Pamela Geller. The RHR-NA and Sojourners have called upon the people of New York to publicly condemn the ads and Geller.
"“These disturbing and misguided ads are not meant to educate; they are meant to increase hatred and discrimination against New York City’s Muslims, and to drive a wedge between Muslims and Jews. The subway ads demonize Islam and ignore the positive contributions that our Muslim friends, neighbors and colleagues make to our country every day,” says a petition on its website."

GoldCore Blog Update - China To Challenge US Dollar Reserve Currency Status

Today’s AM fix was USD 1,786.50, EUR 1,380.92, and GBP 1,109.01 per ounce.

Yesterday’s AM fix was USD 1,777.25, EUR 1,374.73and GBP 1,102.38 per ounce.

Silver is trading at $35.08/oz, €27.13/oz and £21.84/oz. Platinum is trading at $1,707.00/oz, palladium at $664.50/oz and rhodium at $1,180/oz.

Gold edged up $3.40 or 0.19% in New York yesterday which saw gold close at $1,778.50. Silver initially climbed to $34.848 then it fell off in afternoon trading and finished with a loss of 0.06%.

Wednesday, 3 October 2012

California's "Recovery" Takes A Dramatic Turn For The Worse

I have to share this article from Wolf Richter of the Testosterone Pit.

When I read it, I literally "wow"ed 3 times at the dismal numbers in the following paragraphs:

The trend has been going on for several years, as investments by VCs have outpaced their ability to raise funds. At some point, these funds will be drawn down, and investments in startups will wither. We’ve been through this before. And it might be at the cusp of happening again. It will take the sheen off the Bay Area. Meanwhile, manufacturing in Southern California, where this exotic activity is still practiced, is leading the way.

California has its own manufacturing PMI, the Inland Empire Report on Business, sponsored by San Bernardino and Riverside Counties in Southern California, commonly called the Inland Manufacturing Index. After the recent high of 60.8 in March—above 50 indicating growth—it zigzagged down to 52 in August, and then in September, it crashed to 43.4—the lowest level since September 2009.

All five key components were weak. And three fell off a cliff: Production tumbled from 55 in August to 37.5 in September; New Orders—a harbinger of pain to come—fell from 52 to 37, and Exports fell from 51.1 to 35.7. “Disturbing,” the report called it.

So, with orders, production, and exports going south, the employment index sank to 44.6, indicating declining employment in manufacturing for the first time since December 2011. But thanks to the serial and now infinite QE, the Bernanke effect has kicked in: one component actually rose to 64.1, namely commodity prices. These higher input costs are adding to the pressures that businesses face.

Can Romney Capitalize On The Chaotic State of Europe?

I am absolutely in love with this particular blog. The insight and depth of his monologuist articles/opinion pieces are absolutely inspiring, and right in keeping with my own particular world views. It's like he's expressing what I'm thinking before I even realize I'm thinking it...


"If I should venture a guess, I'd lean towards the idea that Romney and all his über-rich "friends" (he doesn't strike me as a man with an overdose of real friends) are stuck inside their own paradox. To make him win, they need to cause or hasten an economic disaster. But that would cost them a lot of money, far more then they spend on the campaign. Big gamble. One which by now, 30-odd days before the election, they are undoubtedly aware of. And that can only mean that anything can happen. Only chaos is certain. Unless Mitt's been a set-up patsy boy from the get-go. Hey, at least that would explain Romney's non-campaign so far." 

Check out the full article here.

More Silver Hype - Morgan Stanley Likes Silver in Q4 and 2013

Latest update from GoldCore Blog's Mark OByrne
Silver has now joined gold in experiencing a “golden cross” which likely portends much higher prices in the coming months (see chart above). 

A golden cross is when the 50 day moving average rises above the 200 day moving average in an upward movement. The golden cross suggests that silver prices are going higher as golden crosses normally lead to higher prices.

In the past quarter, silver surged 25% in a move that has been largely attributed to the Federal Reserve's announcement of so-called QE3.

“QE to eternity” is obviously an important factor but the supply demand fundamentals of the physical silver market remain very favourable and this should see silver rise above the recent record nominal high of $48.44/oz either in Q4 2012 or in 2013.
Read the full update here.

Tuesday, 2 October 2012

Ex-Credit Suisse CDO Boss Says He Will Fight For Deal

A former Credit Suisse CDO boss was arrested in the UK - but maintains that it was unnecessary, as he was already cooperating with prosecutors in the US.

I'm interested to see exactly what that cooperation entails...

Kareem Serageldin, the ex-global head of Credit Suisse Group AG (CSGN)’s CDO business charged in a bonus-boosting fraud tied to a $5.35 billion trading book, plans to fight extradition to the U.S. until he reaches a plea deal. 

Serageldin’s lawyer told a London court yesterday that his client’s arrest this week outside the U.S. Embassy was a result of “miscommunication.” Ben Brandon said Serageldin was negotiating a plea bargain with U.S. prosecutors before the arrest. He was released on a 150,000-pound security ($243,000) until a Nov. 28 court hearing.

Casey Research Adds Further Reason To Buy Silver

Go long!

As you may know, silver is used in photovoltaic (PV) technology to generate solar power. A typical solar panel uses a fair amount of the metal – roughly two-thirds of an ounce (20 grams). To put that in perspective, a cellphone contains around 200 to 300 milligrams (a milligram weighs about as much as a grain of sand). A laptop contains 750 milligrams to 1.25 grams.

Photovoltaic technology is relatively young, but each year its use is growing rapidly. Just since 2000, the amount of silver consumed by solar-panel makers has risen an average of 50% per year. Demand grew from one million ounces in 2002 to 60 million ounces in 2011. Last year demand from the PV industry represented almost 11% of total industrial demand for the metal (excluding jewelry). According to statistics from CPM Group, demand grew by 11.2 million ounces, the strongest volume growth of all major sources (jewelry and electronics). And this was before the Japanese announcement was made.

 Read the article in its entirety here.

JP Morgan Sued Over Bear Sterns Securities Fraud

JP Morgan is being sued yet again - this time for the MBS fraud committed by Bear Stearns, the imploded bank that JPM acquired in 2008 for $2.8 billion.

While somewhat encouraging as it keeps the Morgue in the headlines in a negative light, it simultaneously exasperates me, as all that will happen is a fine from regulators and a potential settlement for investors. There will be no criminal charges filed.

More slaps on the wrist for the top Wall St. offenders.

1) Working Group on MBS Fraud Brings First Complaint Against a Big Bank, JPMorgan
2) New York attorney general sues JPMorgan over Bear Stearns securities
3) Memo to Jamie Dimon: You Still Think Bear Stearns is Not Material??

Iceland's Ousting of the Bankers Has Their Economy Booming 3 Years Later

I've mentioned Iceland and their strategy that they implemented between 2006 and 2008 when their economy collapsed to many people over the past few months, and when I talk about this the response is unanimous: nobody has any clue what I'm talking about. This is due to a massive media blackout on anything having to do with Iceland and what they did to solve their economic crisis - to come out ahead of the rest of the world in the end, with their economy growing quickly and steadily, and with it being stupendously better than both the economies of the United States and all of the Eurozone.

4 years ago Iceland was considering joining the Eurozone and adopting the Euro. Now, they're thanking their lucky stars that they didn't step in that bear-trap, and decided that the sovereignty of their people was more important than the interests of the criminal bankers who collapsed the economy in the first place.

Bully Banks Bilk Both Small And Mid-Sized Businesses - IRSA Scheme And The Recourse of Beleagured Business Owners

Today, I wanted to draw attention to an important organization that was formed in the face of mis-representation of both the value and costs (initial and added) of Interest Rate Swap Agreements (IRSA's) by banks in the UK. The organization is called Bully-Banks, and they are fighting back against the banking cartels that bilked the member business owners out exorbitant amounts of money through fraudulent mis-selling of IRSAs.

The website is, and they have a wealth of information and insight into the situation at hand posted throughout various pages on their website.

While this particular organization is based in the UK, it also has implications for clients of the major banks in the United States and elsewhere around the world, as these practices are common-place in today's finance sector.

Monday, 1 October 2012

Mining Strikes Drop Gold Production, Stunting Supply While Demand Increases

September 27, 2012 GoldCore update from Mark OByrne:

In South Africa, gold mine strikes ceased nearly 39% of production, at AngloGold Ashanti Ltd. (ANG) and Gold Fields Ltd. (GFI), as labour walkouts spread across the country amid demands for above-inflation pay increases.

Today, AngloGold, the world’s 3rd largest gold producer, said all of its South African mines have been stopped. Gold Fields lost nearly 32,000 ounces, or metric ton, of output because of strikes at its KDC and Beatrix sites. The Kopanang mine was shut down after a strike last week that began with 5,000 workers, and AngloGold decided to halt all South African operations as most of its 35,000 employees have joined the industrial action.

In addition to the mining strike there is also a transport strike.  More than 20,000 freight transport workers are also on strike, demanding a wage increase of 12%, reports the South African Press Association.  Unions rejected an offer of a staggered increase of 8.5% next March followed by an additional 0.5% in September, SAPA said.

The Lonmin Plc’s Marikana platinum mine northwest of Johannesburg endured a six-week strike that took 46 lives and concluded last week with miners receiving pay increases of almost 22%, which is four times the country’s August inflation rate.

Read the rest of the article here, or alternatively here.

Daily Reading Material Compilation 1.0

Here's a compilation of a bunch of articles that I've read over the last few days. This isn't everything I've read - but I've commented/written blog posts on most of the other things I've read already, and the rest seems somewhat unimportant for me to share.

Enjoy the links!

US Bank Run Imminent?

Is there going to be a bank run in the US? There are many indicators point to a resounding "yes" - and that could be a lot sooner than most people think.

The FDIC (Federal Deposit Insurance Corporation) currently covers 100% of insured deposits in member-organization banks. The list of member organization banks can be found here. The FDIC was created by the Glass-Steagall Act of 1933 (which had certain sections repealed under the Clinton administration, helping to contribute to the late 2000s financial crisis, as investment banks and commercial banks' funds were co-mingled and banks were over-leveraged, leading and contributing to the collapse of Lehman Brothers and Bear Stearns).

In order to be a member a bank must meet certain requirements for liquidity and reserve/capital. They are categorized in 5 distinct groups based on their risk-based capital ratio:

The Flawed Logic of Central Bank Defenders

I stumbled across this article really by chance, but it made some phenomenal points in regards to the three arguments that central bank supporters use to argue the value of a central bank, such as the Fed:

1) It helps to maintain price stability

2) It helps prevent deflation

3) It can accelerate economic growth

I could ramble on for hours as to why this logic is incredibly flawed, and indeed is part of the root of the problem with our current monetary and financial systems. Instead, however, I will let this article outline it for me, so I can move on in order to piece together more on the articles I'm working on.

North Korea Exporting Gold Reserves To China - Central Banks Around The Globe Continue To Increase Gold Holdings

Desperate North Korea has exported more than 2 tons to gold hungry China over the past year to earn US $100 million. Even in tough times during the Kim Il-sung and Kim Jong-il regimes, North Korea refused to let go of its precious gold reserves.

Chosun media reports that “a mysterious agency known as Room 39, which manages Kim Jong-un’s money, and the People’s Armed Forces are spearheading exports of gold, said an informed source in China. “They are selling not only gold that was produced since December last year, when Kim Jong-un came to power, but also gold from the country’s reserves and bought from its people.”

This is a sign of the desperation of the North Korean regime and also signals China’s intent to vastly increase the People’s Bank of China’s gold reserves.

Data on the International Monetary Fund’s website shows Kazakhstan’s assets rose 1.4 tons to 104.4 tons last month, Turkey’s gold reserves gained 6.6 tons to 295.5 tons, Ukraine’s rose 1.9 tons to 34.8 tons.

While the Czech Republic’s bullion assets fell 0.4 ton to 11.8 tons, data shows.
Nations bought 254.2 tons in the first half of 2012 and may add close to 500 tons for the year as a whole, the London-based World Gold Council said earlier this month.

Read more here.