$15,OOO,OOO,OOO,OOO FRAUD EXPOSED in UK House of Lords

Uploaded by 91177info on Feb 23, 2012

$15 TRILLION is equivalent to the the federal debt of the U.S. Treasury Department. Lord James of Blackheath has spoken in the House of Lords holding evidence of three transactions of 5 Trillion each and a transaction of 750,000 metric tonnes of gold and has called for an investigation.

I think there are three possible conclusions that may come from it. I think there may have been a massive piece of money laundering committed by a major government which ought to know better and that it has effectively undermined the integrity of the British bank the Royal Bank of Scotland, in doing so. The second alternative is that a major American department has an agency that has gone rogue on it because it has been wound up and has created a structure out of which they are seeking to get at least 50 billion Euros as a payoff. And the third possibility is that this is an extraordinarily elaborate fraud which has not been carried out but which has been prepared in order to provide a threat to one government or more if they don't pay them off. So there are three possibilities and this all needs a very urgent review.

My Lords, it starts in April and May of 2009, with the alleged transfer to the United Kingdom, to HSBC of a sum of 5 trillion dollars and seven days later, in comes another 5 trillion dollars to HSBC, and then 3 weeks later another 5 trillion. 5 trillion in each case. Sorry. A total of 15 trillion dollars is alleged to have been passed into the hands of HSBC for onward transit to the Royal Bank of Scotland and we need to look at where this came from and what the history of this money is. And I have been trying to sort out the sequence by which this money has been created and from where it has come from for a long time.

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China's gold output and demand could be far greater than ‘official' data suggest

Comment from Jeff Nichols suggests that Chinese gold production and consumption may be considerably higher than the statistics released by the country would indicate.

Author: Lawrence Williams
Posted:  Thursday , 02 Feb 2012 

LONDON - 

Following the recent Minewebarticle on Chinese gold production and consumption (see China enhances position as world No. 1 gold producer - but where's it all going?) we have received the following comment s from specialist precious metals analyst, Jeff Nichols of American Precious Metals Advisors and Rosland Capital, which suggests that both Chinese gold production and consumption may be considerably higher than that suggested by official and semi-official statistics coming out of the Asian giant.

Nichols avers that China's domestic gold mine output is, without a doubt, much higher than reported. Actual gold mine output could easily be close to 400 tons and possibly more for the following reasons:

·    The China Gold Association (CGA) numbers reflect production by their members only -- but omit gold mined by non-members.  These include many small, unofficial mining operations some of which are illegal existing in the "underground economy".  The CGA data also excludes production from mines owned and operated by the military, which is significant according to sources.  Not to be overlooked is by-product output from copper, silver, and other metal mining activity.  Again, this is significant though hard to know just how significant.  

·    In addition to mine output, analysts and commentators seem to forget about secondary supply -- that is from recycling of jewelry, investment bars, and industrial scrap.  Just to get an "order-of-magnitude" possibility, in recent years global secondary supply from scrap recycling has contributed roughly one-third of total worldwide supply.  If scrap contributed only five or ten percent of China's total gold supply it would still be quite important.  

·    Next,  Western analysts are estimating that China's total gold imports last year were around 490 tons -- but no one talks about "illegal" imports -- that is gold smuggled into China.  We know smuggling is quite significant in some countries -- Vietnam and India, for example.  We can only imagine how many tons of gold in the form of  tael bars, wafers, coins, investment-grade jewelry, etc. is carried into China each year by travellers and professional smugglers.  

Actual Chinese consumption is, of course, a pretty speculative estimation.  One assumes the imports (and the 490 tons referred to above relate only to that imported through Hong Kong which itself may be an under-estimate as we only have ‘official' figures for this to November so far.)  By anecdotal evidence the demand at the year-end, and running into the lunar New year, was enormous, thus this figure could easily be higher, quite apart from the gold coming in by other routes which Nichols points to in his comments.

As far as People's Bank of China buying is concerned, as we understand it Chinese miners have to sell their official output to the state, but whether the state is releasing all, or any, of this to the general market via the state-controlled banking system is not known and given the huge volume of imports the answer could even be none of it.  Nichols has stated in his presentations, notably in China itself, that he feels that the PBOC may be squirreling away perhaps 50 to 100 tons a year into an account which will eventually be brought into official reserve figures, but one could speculate that this figure could actually be very considerably higher without compilers of global statistics being aware.

At best we have to take Chinese official statistics at face value, but China is not noted for its transparency on such matters and as we commented in the earlier article the country's government plays a long game.  This has the ultimate aim of maintaining growth and keeping its huge population compliant through ever-increasing living standards. 

Many commentators see the eventual promotion of the Chinese currency as the global reserve unit to replace the ever-declining dollar as being the primary aim of Chinese monetary policy,  While this may be a long way ahead yet, accumulation of gold reserves to eventually match the kind of levels seen in percentage terms in many western countries at the expense of its dollar holdings could well be part of the overall strategy.

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Wen spoke at an appearance Thursday with German Chancellor Angela Merkel, who was in Beijing to reassure Chinese leaders about Europe's financial stability.

Wen, China's top economic official, repeated pledges of support for Europe, his country's biggest trading partner, but made no financial commitments.

"It is very urgent and important to resolve Europe's debt crisis," he said. "China is considering greater involvement in resolving Europe's debt crisis by participating in the European Financial Stability Fund and the European Stability Mechanism."

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1月28日，越南北宁省Nem Thuong村，当地村民在正月初六这天举行仪式，纪念13世纪反抗皇权的将军Doan Thuong，Doan Thuong也被当作该村的守护神。

[ 转自铁血社区 http://bbs.tiexue.net/ ]

每年农历正月初六，村子周边数千村民在都会在这里举行纪念仪式。

纪念活动一项饱受争议的仪式是刀劈活猪，由于场面过于血腥，遭到多方谴责，甚至当地政府也呼吁停止这项仪式。

[ 转自铁血社区 http://bbs.tiexue.net/ ]

刀劈活猪的仪式非常血腥

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Congressional Budget Office reports another $1 trillion deficit Read more: http://www.politico.com/news/stories/0112/72205.html#ixzz1l8Bob7or

By DAVID ROGERS | 1/31/12 10:06 AM EST Updated: 1/31/12 8:13 PM EST

For the fourth year in a row, Washington faces a $1 trillion-plus deficit and just servicing the nation’s debt will soon cost as much as paying for Medicaid, the federal-state health care program for the poor and disabled.

Those were two grim predictions in a 147-page report from the Congressional Budget Office, which Tuesday stepped into the 2012 campaign like some stern Aunt Cassandra — coming down from the attic to lecture the protagonists: “It’s not just the economy stupid, it’s also the debt.”

 Indeed the $1.079 trillion deficit now projected for the 2012 fiscal year ending Sept. 30 is wider than what the added CBO had predicted in August, and the picture won’t substantially improve unless Congress comes to grip with changes needed in tax and spending policy.

“The CBO’s latest alarm bell couldn’t be more ominous,” said House Budget Committee Chairman Paul Ryan (R-Wis.). “For years, politicians from both political parties have failed to be honest with the American people about the size and scope of the debt threat. The CBO’s report today confirms that it is past time for serious leaders to put aside politics and start forging solutions.”

To punch home its message, CBO outlines an especially grim scenario in which lawmakers not only extend all the current Bush-era tax cuts at the end of this year but also pull the plug on the $1.2 trillion in automatic cuts set in motion by the Budget Control Act last summer.

In this scenario — which can’t be ruled out politically — deficits would stubbornly hover just under $1 trillion through 2017 adding another $4.7 trillion to the debt over five years.

Under the more prudent — many say unrealistic — scenario of ending all the tax breaks and implementing spending cuts, the cumulative deficits would be $1.72 trillion or $3 trillion less from 2013 to 2017. And it’s that $3 trillion difference that essentially defines the battleground after the November elections if Washington again dithers through this year as it did much of 2011.

As the clock ticks, many costs are already baked into the cake.

For example, even under the more prudent path outlined by CBO, net interest costs will grow dramatically to where they reach $624 billion by 2022 — 2.5 percent of GDP compared with 1.4 percent today.

To put this in some perspective, servicing the debt by 2017 will consume almost as many dollars as paying for Washington’s Medicaid costs — even allowing for the greater health care spending under President Barack Obama’s reforms. And before the end of the decade, debt costs will surpass Medicaid and begin to approach total federal outlays for all nondefense discretionary appropriations.

The same sort of dynamic can be seen in CBO’s predictions for Medicare’s own inexorable growth.

With baby boomers retiring, the caseload for the health care program for the elderly will grow annually at a 3 percent rate over the next decade. But CBO is assuming the growth in costs per patient from 2012 to 2022 will average close to 1 percent above inflation — far less than the 5 percent experienced from 1985 to 2007 and suggesting that it won’t be a simple matter to cut benefits further.

A much smaller illustration — but one that could still be important to writing a farm bill this year — is the rising cost of crop insurance subsidies because of CBO’s predictions of continued high commodity prices. The report indicates an uptick of about $1 billion annually in mandatory spending for agriculture, and much of this appears driven by higher subsidies to support premium payments to insure higher-priced crops.