Is a Central Bank Digital Currency (CBDC) a good idea for the USA?
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Russian media picture … The fighter jet featured in the satellite image. Picture: LiveLeak
HOURS before the G20 summit is due to start in Brisbane, Russia’s official media has released satellite images which it claims shows the Malaysia Airline’s flight MH17 was shot down by a Ukrainian fighter jet, not a surface-to-air missile.
The flight from Amsterdam to Kuala Lumpur was brought down over the war zone in eastern Ukraine on July 17, killing all 298 people on board including 38 Australian residents and citizens.
Russian media picture … the image appears to show a fighter jet shooting a missile in the direction of a passenger jet. Picture: LiveLeak
RELATED: Warm welcome for Obama and a snub for Putin as G20 leaders arrive
Russian President Vladimir Putin has been under increasing pressure to apologise for the tragedy after initial investigations indicated it was a Russian made BUK missile system used by pro-Moscow rebels that was responsible.
In what only could be described as an extraordinary coincidence after Mr Putin was confronted by Australian Prime Minister Tony Abbott in Beijing this week, Russia’s state broadcaster aired the images supplied by unnamed sources.
The presenter said they showed how a Mig-29 fighter plane destroyed the Boeing 777 passenger plane.
A Dutch Safety Board preliminary report on the MH17 disaster found the aircraft crashed after being punctured by “high energy objects … that originated from outside the fuselage”.
The report made no finding on whether the “high energy objects” originated from a surface-to-air missile or some other weapon.
In the spotlight … Russian President Vladimir Putin arrives in Brisbane to take part in the G20 summit. Picture: AFP PHOTO / Peter Parks
Mr Abbott’s hard line on the suspected Russian involvement in the tragedy has not gone down well with grieving families.
Paul Guard, who lost his parents Roger and Jill Guard when the aircraft was brought down, told the ABC yesterday he would prefer the Prime Minister worked with Mr Putin in order to ensure complete transparency in the investigation process.
Member countries of the joint investigation team announced this week an extension to the official investigation for another nine months until August 15.
Investigators have had difficulty accessing the crash site because of ongoing fighting between the Ukrainians and pro-Russian separatists, but a Dutch newspaper reports that a new deal has been agreed on, allowing access.
The Dutch investigators will be allowed to return to the region controlled by the separatists under the agreement reached in negotiations overseen by the Organisation for Security and Co-operation in Europe (OSCE), the Dutch newspaper Volkskrant reported late on Friday, quoting the Justice Ministry in the Hague.
Many pieces of MH17 wreckage lie in the area controlled by the separatists, which has made their recovery especially difficult. Earlier this month experts were still recovering human remains and pieces of the jet.
Originally published as Is this how MH17 was shot down? Comments
Last March, I came across a letter written to George W. Bush and Dick Cheney from a paralyzed and dying Iraq war vet named Tomas Young. It touched me to such an extent, that I highlighted it on Liberty Blitzkrieg at the time. He died on Monday, the day before Veterans Day. If you really want to honor our nation’s soldiers, you should read the following and share it.
Try to imagine a group of Indian Chiefs, from 20 various American Indian tribes, getting together and making decisions without consulting with their tribal citizens. The Chiefs meanwhile are beholden or obligated to special interests. (middle men)
Then they decide, for the special interests…
The Algonquin Tribe will make ALL the arrows.
The Chippewa Tribe will make all the bows.
The Mohawk Tribe will produce all the arrow heads.
The Montauk Tribe will make all the moccasins.
It makes no sense, unless saving time or man hours results in more time off WITH pay. I worked with a guy in Grumman aircraft that had two other friends. The three of them were building their own small aircraft.
Each guy would make three of each part, and give the two extras to the other two guys. Its just as easy and time efficient for each guy to make three fuel tanks for example as it is to make one. They all saved time. Time is money.
The representatives from each country are having cash flow problems because of deflated tax payer incomes, because representatives were duped or bribed by the middle men special interests.
Trying to save time or man hours, is counter productive to creating jobs. Its VERY productive for special interest profits, until TSHTF.
part of link:
What is G20?
The “Group of Twenty” represents two-thirds of the world’s population, 85% of global GDP and over 75% of global trade.
It began in 1999 as an annual meeting for finance ministers and central bank governors following the Asian financial crisis, before evolving to also include a summit for countries’ leaders in 2008, after the global financial crisis.
G20 meetings are aimed at deepening economic co-operation and strengthening the global economy.
Comment:
Its just like another hippie commune of the 1960s in California, that eventually naturally fell apart. And so is their dumb globalization, and their dumb climate change baloney. Its like a new religion for too many people. Check the photo in the link with demonstrators burring their heads in the sand.
Well who’s balls are on the line? I assume the people that bought them or invested in them. The way I see this Ukraine situation, is Europe and the western part of Ukraine is broke. (because of imports, and too many gov’t jobs with benefits and pensions)
Eastern Ukraine is probably a wealthy area, and Europe wants to absorb it to help with expenses. The Russians in eastern Ukraine probably know better, and don’t want to be married to a Europe with too much baggage. 🙂
And naturally, why would Russia want to lose a wealthy productive area, and or lose that port they historically owned in Crimea where they have bases? Re defaults? The good thing about them is the currency value drops in value, making imports too expensive, domestic production grows, and exporting excess production easier.
The way I see it Putin NEEDS to ruffle some feathers.
Funny how now we worry about Ukraine bonds. Who the hell would be interested in Ukraine bonds?
The truth is the bank owned, usurious US gov’t. needs to be kicked in the nuts. Sorry, it will cause a lot of pain for everyone in the US but it’s needed to wake the US population up.
Ukrainian bonds slumped the most since March as the threat of open war in the nation’s east deepened concern the government will struggle to repay debt.
The yield on Ukraine’s $2.6 billion of bonds due July 2017 soared 154 basis points to a record 17.67 percent at 7:14 p.m. in Kiev, bringing the eight-day increase to 428 basis points, or 4.28 percentage points. The hryvnia, which is down 18 percent this month in the world’s largest decline, was unchanged at 15.85 per dollar. Ukrainian shares slid for a fifth day.
The threat that a two-month-old cease-fire in Ukraine will unravel grew today as NATO accused Russia of sending troops and heavy weapons into its neighbor. As the nation suffers from its second recession in five years, the return to war raises the likelihood Ukraine will struggle to pay back debt, according to Standard Bank Group Ltd. The government has $14.63 billion of principal and interest payments due by the end of 2015, according to data compiled by Bloomberg.
“Investors are voting with their feet, they now expect further Russian military intervention and expect the West to do nothing to help Ukraine,” Timothy Ash, London-based chief economist for emerging markets at Standard Bank, said by e-mail today. Bondholders are increasingly concerned that a war could trigger a “collapse” of state, leaving the country unable to pay its debt, he said.
The separatists and their Russian backers are amassing troops in the areas of the Donetsk and Luhansk regions they’ve seized, Ukrainian Defense Minister Stepan Poltorak told a government meeting in Kiev earlier today. Russia’s Defense Ministry denied its involvement, state-run RIA Novosti reported.
G20 summit: World leaders meet in Brisbane
FWIW – last trades in GDX and GDXJ were 21 million shares and 5 million shares respectively. Both closed on an uptick. Doubt it means anything but is notable. Everything comes down to Sunday night and Monday follow thru.
newtogold – thanks for posting the Willie, really appreciate it!
May Putin drop a gold bomb on the G-20.
Having been on the road, I have two brilliant insights to report.
1. No matter what sort of fascist state were ever established in this part of the world, Amtrak would never get the trains to run on time.
2. Respecting people and giving them credit for being smarter than the television depicts them is vastly easier when you stay home.
The well-known line is that people get the governments they deserve. Of course nobody should be abused the way the U.S. and many other governments abuse them, no matter what their intellectual deficiencies. If anything, stupid people should have better, kinder governments. But my common response to that well-known line is to point out the bribery and gerrymandering and limited choices and relentless propaganda. Surely the clown show in Washington is not the people’s fault. Some of my best friends are people and they often display signs of intelligence.
But the primary thing the U.S. government does is wage wars, and it wages them against other people who had no say in the matter. Of course I don’t want wars waged against Americans either, but the general impression one gets from traveling around and speaking and answering questions at public events in the United States is not so much that people are indifferent to the destruction of the globe as long as they don’t miss their favorite television show, as that people are unclear on what destruction means and can’t identify a globe when it’s placed in a lineup with six watermelons. Read more
Just when the gloaters were boasting about how very low Gold is going lower, the very high SnP is going higher, and the obnoxiously strong dollar getting stronger…The whole magila turns around and goes the other way.
The same big short covering on gold happened last Friday too. Two Fridays in a row now. It shows margined futures players (gamblers) are scared stiff to be short on gold now during the weekend.
Stealth QE4: Operation Tokyo Twist
By: Jim Willie CB, GoldenJackass.com
— Posted Friday, 14 November 2014 | Share this article | 1 Comment
Simply put, QE can never be halted or even slowed. The USFed is in a corner, with no policy options, facing collapse, with no ability whatsoever to halt the systemic failure in progress. It can only rely on hidden machinery and profound lies, against a background of constant economic propaganda. The central bank franchise system wrapped around the fiat paper currency regime has failed. They cannot stop it, not even with endless bond fraud and endless war, the new twin towers of the fascist state legacy. The entire financial structures have become fully dependent on easy money and debt financed by a printing press, buttressed by derivative machinery. The Uncle Sam bearing the USDollar emblem is like a pathetic heroin addict brandishing a modern howitzer. The USDollar is fast losing its integrity, during a dangerous global rejection episode. Therefore, QE must be exported, the easy candidate Japan. Call it Operation Tokyo Twist.
Heavy pressure, threats, and subterfuge are the American way. It is yet another sordid chapter in the Weimar Amerika story. QE to Infinity is the marquee billboard message, which will be perpetuated until the USGovt debt default and US financial collapse, forcing replacement of the USDollar. A Japanese syringe does not prevent the USD death, only delay it while deeper cancer spreads to the Japanese Economy and its financial structure. The United States is fast running out of nations to plunder. See Libya, Cyprus, Syria, Ukraine, the Philippines. Now Japan. Witness death of the US nation. The national carving ceremony will be very interesting to observe in future years, after the commercial colonization.
SYSTEMIC FAILURE GUARANTEE
The USEconomy will gradually move toward systemic failure for 10 main reasons. The isolation of the United States was foretold two years here. The US has become a pariah nation, ignored at all formal multi-national summit meetings. Obama is ignored on stage, placed with the wives. The US is not part of any new global platform implementation.
1) QE is killing capital from rising costs as banker welfare remains in place
2) USGovt has unmanageable debt as the great bloated welfare state remains in place
3) USMilitary is a cancer as the great predator war machine remains in place
4) Insolvent banks are grand casinos, no longer credit engines for capital formation
5) Rigged higher USDollar value will make exports to foreign nations difficult
6) Rejection of USTBond in trade will lead to amplified USGovt bond dumping
7) QE volume will rise significantly to soak the discarded bonds, in hidden rooms
8) Interest rate derivative reliance out of control, Failures to Deliver the smoking gun
9) All sanctions have backfired, the Russian sanctions being the final event
10) USDollar regime does not participate in trade settlement, on a growing basis.
OVERVIEW
The USFed has exported Quantitative Easing on a gigantic scale to Japan. The plausible deniability cover is that the US offers a higher bond yield, with a rising USDollar chaser. So the USFed announced with balllyhoo an end to QE and its unsterilized bond monetization, used for four years to cover the USGovt deficit and all the rolled over matured USTBills and USTBonds. Next just coincidentally, the Japanese announce unlimited QE in Tokyo. The Tokyo vassals will conduct highly corrosive unsterilized bond monetization, just like the Americans have done for four years. The untold part of the story is that the USGovt has demanded of its Asian vassals that they devote their $1.2 Japanese Govt pension fund to USTreasurys. The US covets the pot, which will buy another year of time. The Germans blocked QE in EuroCB under Prince Draghi’s tutelage. The focus of attention went to Japan, which cannot say to their American Victor Lords. The Yakuza sword lies above their heads. Keep in mind there are no $billion coincidences.
JAPAN SACRIFICES PENSION FUND
The Japanese do not wish to see their bonds rise in yield, since it would cause a major problem with delivered pension payments. The lost income stream would be an obvious blight on their financial field. Confirmation is seen not with any great alteration in the JapGovtBond yields, but with the falling Japanese Yen currency. Therefore in summary, the US will commandeer the Japanese Govt pensions, which will purchase USTreasurys. The Bank of Japan will monetize their replacement so that the pension fund will look intact. The blood on the floor is a falling Japanese Yen, which will have deep ramifications. The Wall Street uber-lords probably tried to convince them a cheaper Yen currency would be great for the export industry, with its vast array of exported items large and small. Also, foreign subsidiary translations would be more favorable, another benefit. Without a decline in JYen, the interest rates in Japan would go above 2% to 3% quickly. The flip side is higher energy import costs, noting that Japan imports over 98% of its oil. Call it Operation Tokyo Twist.The USFed exported QE, thus putting QE4 on track in the latest hyper monetary inflation obscenity.
The USFed is again proved liars, as QE continues from a foreign outpost (outhouse). They lied by promising 0% (ZIRP) as lasting only six to nine months. They lied by promising QE bond monetization would be temporary, a one-time event. They lied as to what Operation Twist was, when China dumped all long-term USTreasurys in favor of quickly expiring short-term USTreasurys. They lied on Taper Talk last year, for reduced volume of bond purchases. They lied on usage of QE funds to purchase the major US Stocks using the S&P500 index. They lied on Interest Rate Swap dependence, the London Whale incident having exposed JPMorguen as losers. They lied in the nationalization of AIG, so as to rescue Goldman Sachs after killing rival Lehman Brothers. They have lied every single month on QE bond volumes, far more than double the officially stated volume. They have lied every single month on the black hole under the rug, since QE covers ruptured hidden derivative losses. They might be in the $trillions.
Proof of Operation Tokyo Twist is seen in the recent price action for the Japanese currency. The Japanese Yen went from 91 at end September, to 94.5 in mid-October, to 87.8 on November 3rd, to 86.35 on November 13th. A falling currency is the confirmation of the US bond grab, a smoking gun, since Tokyo replaces the seized pension funds in monetized manner. This is nothing but a huge shell game with Yellen the Liar in Chief at the Fed. They put a gun to Tokyo’s head, and they engineered the twist. Vengeance will come from Germany and Japan, but also from the entire East. Both Russia & China will join in the vengeance against the Anglo-Americans and King Dollar Regime. It has months to live, not years. It no longer sits upright on its throne, its velvet eaten by heroin stains, at least two legs fractured. The upcoming G-20 Meeting in Brisbane Australia will see the writing on the executioner’s wall. The US delegates will be listening, not dictating. A death blow might soon come from Shanghai, where in pursuit of an equilibrium based gold market, the Chinese are indicating a doubled Gold price and tripled Silver price. The West will not be able to stop it, to arbitrage it, or to ignore it. The reason is simple: the West has run out of Gold.
The King Dollar is in the final death throes, and the entire world knows it. Well, except for sleepy Americans, who do not comprehend its role as global reserve currency. When the new Scheiss Dollar arrives, the wake up call comes. Its painful devaluations will bring price inflation, supply shortage, social disorder, and shock to the gutted nation. A preview is given. The fast cratering retail sector is another symptom, led by Wal-Mart, Sears, Amazon, and Target. Until then, the Tokyo Twist will be the song on the FOREX dance floor where all the gals (fiat currencies) are ugly, in a desperate contest to be the least ugly. The new BRICS gold & silver backed currency is at an advance stage in the design rooms, soon to see actual implementation. The Gold Standard is to be re-installed, euphemistically called the Currency Reset. History is on the verge of being made.
Pretty good close. Over 40 million shares of GDX traded in the last 5 minutes or less. They stiffed the NUGT and JNUG holders into the close like they always do. 3 x’s ETF my ass.
I guess we’ll know if we get long awaited follow thru on Sunday night.
MM – NSA is giving you some really odd hours these days. 🙂 Hope someone buys IAG and sets off a takeover frenzy.
commish – is Russia in the G-20 anymore? Nothing happens unless Vlad says so! 🙂
Some big annoucement after the meeting closes. Who knows a bank holiday?
I smell a monday morn announcement…by whom??? NEM? AEM?
Was wondering the same thing myself about $1190. I have my doubts. The last 10 minutes might be a little wild.
Interesting COT Report for Gold, not sure what to make of silver.
re “there are rumors that some big fund/funds have gotten long.”
That makes sense. Things got too far. Too many people on the same side of the PAPER GOLD boat. Imo PHYSICAL gold does not need inflation, does not need lower than low rates either.
I think PHYSICAL gold needs people that are fed up for decades. People that don’t trust gov’ts to do the right thing. Don’t trust the banks. Many even gave up voting in the US after ’75. People (and Arabs) that got burned years ago with stocks and real estate.
These groups are getting bigger as time moves on. And they always buy Physical gold especially when the paper gold price is low.
gold very quietly bottomed under the radar–and most missed ABX at 10.90–and remember that ANV was going out of business? Anv bottomed at 85 cents and is now 1.35–that’s a big move–most of them are like that…they still super cheap–ABX is a real company-does billions a yr–in sept 2012 it was 42–march 17th 2013 it was 29 bucks….most are like that….
Tmghts close will say a lot as well, willthey let it close above 1190 even.
I’ll believe it was THEE bottom when we’re able to put five or six strong up days in a row.
Remember what happened last Friday? Big up, then slammed on Monday. We’ll probably know by Sunday night.
It is high time for me and for the Italian people, to do something that should have been done a long time ago: to put an end to your sitting in this place, you who have dishonoured and substituted the governments and the democracies without any right. Ye are a factious crew, and enemies to all good government; ye are a pack of mercenary wretches, and would like Esau sell your country for a mess of pottage, and like Judas betray your God for a few pieces of money. Is there a single virtue now remaining amongst you? A crumb of humanity? Is there one vice you do not possess? Gold and the “spread” are your gods. GDP is you golden calf.
Now our biggest task is to get over the horrific 3 yrs negative conditioning–even after the action so far–PMs and pm stocks are way back at yr 2000 and 2008 prices…so drop the negativity and get with the program–there are rumors that some big fund/funds have gotten long
In a mainstream article they gave the “alibi” thusly for the rise–but gold has declined for 3 yrs as bond yields have dropped–low rates reduce the opportunity cost of holding gold–so why today???
FALLING RATE HIKE EXPECTATIONS IS THE ALIBI
FXStreet (Mumbai) – Gold price received a shot in the arm since the Treasury yields in the US failed to sustain gains despite a better-than-expected US retail sales and Michigan confidence data.
Gold traded 0.44% higher at USD 1166.30/Oz levels, while the ten-year treasury yields retreated to 2.347% from the day’s high of 2.377%. The two-year treasury yield declined to 0.536%, from the day’s high of 0.548%.
Moreover, the yields have retreated despite the advance retail sales printing at 0.3% in October; higher than the market expectation of 0.2%. The Preliminary Michigan confidence number for November came-in at 89.4, higher than the expectation of 87.5.
The falling yields despite strong data is indicative of falling rate hike expectation. Thus yellow metal, which is known to have an inverse relationship with yields, gained strength.
There is also a concern that moderately conservative voters uncomfortable with the anti-immigration initiative might vote in favour of the gold proposal in compensation.”
I’ve never a “moderate” one, most think Ghengis Kahn was a wimp.
Mny year back Ghadafi ws playing up and I got into conversation with a swiss guy, he said why don’t they just shoot Ghadafi……that’s what you do when you have a mad dog running around !!!!!!!
Hmmm, $1.50/share coming in January from Niobec on a $2.30 share price…
pretty easy to leverage that in a hostile takeover
Snap…..wait till he finds out that there is no Italian Gold left, just a futures contract from JPM/GS.