Showing posts with label India. Show all posts
Showing posts with label India. Show all posts

Wednesday, August 20, 2014

China Becoming Global Gold Hub And Gold Price Discovery Centre

China Becoming Global Gold Hub And Gold Price Discovery Centre

by GoldCore on 08/20/2014 05:09 -0400

Shanghai Gold Exchange Launching International Bullion Exchange In Yuan Next Month
China is moving closer to positioning itself as the physical gold trading hub of the world and the world’s gold price discovery centre. It is a natural progression for the largest economy in the world and for the world’s largest gold buyer, importer and indeed producer.

The Shanghai Gold Exchange (SGE) is launching its yuan denominated international bullion trading exchange next month. This is another important step in internationalising the yuan or renminbi and positioning it as an alternative global reserve currency.

(AK NOTE: Interesting chart of six monetary "phoenix"-ings of the financial
system since 1450... now the attempt to make China the Global Reserve currency...)

Saturday, August 2, 2014

India Slams US Global Hegemony By Scuttling Global Trade Deal, Puts Future Of WTO In Doubt

India Slams US Global Hegemony By Scuttling Global Trade Deal, Puts Future Of WTO In Doubt

Submitted by Tyler Durden on 08/01/2014 15:44 -0400

Yesterday we reported that with the Russia-China axis firmly secured, the scramble was on to assure the alliance of that last, and critical, Eurasian powerhouse: India. It was here that Russia had taken the first symbolic step when earlier in the week its central bank announced it had started negotiations to use national currencies in settlements, a process which would culminate with the elimination of the US currency from bilateral settlements.

Russia was not the first nation to assess the key significance of India in concluding perhaps the most important geopolitical axis of the 21st century - we reported that Japan, scrambling to find a natural counterbalance to China with which its relations have regressed back to World War II levels, was also hot and heavy in courting India. “The Japanese are facing huge political problems in China,” said Kondapalli in a phone interview. “So Japanese companies are now looking to shift to other countries. They’re looking at India.”

Of course, for India the problem with a Japanese alliance is that it would also by implication involve the US, the country which has become insolvent and demographically imploding Japan's backer of last and only resort, and thus burn its bridges with both Russia and China. A question emerged: would India embrace the US/Japan axis while foregoing its natural Developing Market, and BRICS, allies, Russia and China.

We now have a clear answer and it is a resounding no, because in what was the latest slap on the face of now crashing on all sides US global hegemony, earlier today India refused to sign a critical global trade dea. Specifically, India's unresolved demands led to the collapse of the first major global trade reform pact in two decades. WTO ministers had already agreed the global reform of customs procedures known as "trade facilitation" in Bali, Indonesia, last December, but were unable to overcome last minute Indian objections and get it into the WTO rule book by a July 31 deadline.

Friday, August 1, 2014

Russia And Germany Allegedly Working On
Secret "Gas For Land" Deal

Russia And Germany Allegedly Working On Secret "Gas For Land" Deal
Submitted by Tyler Durden on 07/31/2014 14:50 -0400

While many were amused by this photo of Putin and Merkel during the world cup final showing Europe's two most important leaders siding side by side, some were more curious by just what the two were scheming:

Thanks to the Independent, we may know the answer, and it is a doozy, because according to some it is nothing shy of a sequel to the Molotov-Ribbentrop pact: allegedly Germany and Russia have been working on a secret plan to broker a peaceful solution to end international tensions over the Ukraine, one which would negotiate to trade Crimea's sovereignty for guarantees on energy security and trade. The Independent reveals that the peace plan, being worked on by both Angela Merkel and Vladimir Putin, "hinges on two main ambitions: stabilising the borders of Ukraine and providing the financially troubled country with a strong economic boost, particularly a new energy agreement ensuring security of gas supplies."

Amusingly, this comes on the day when the WSJ leads with "On Hold: Merkel Gives Putin a Blunt Message. Germany's Backing of Russia Sanctions Marks Breach in Pivotal European Relationship" in which we read that " Angela Merkel spoke to Russian President Vladimir Putin for at least the 30th time since the Ukraine crisis erupted. She had a blunt message, according to people briefed on the phone conversation: Call me if you have progress to report in defusing the conflict. That was July 20. The two leaders haven't spoken since."

They may or may not have spoken since, but it is not because Putin has "no progress to report" - it's because the two leaders have come to a secret agreement which will hardly make Ukraine, or most of Europe, not to mention the UN, happy as it requires that Crimea be permanently handed over to Russia in exchange for Russian gas, which has been cut off for a month now due to non-payment by Kiev.

Here is how the deal came to happen:

Sources close to the secret negotiations claim that the first part of the stabilisation plan requires Russia to withdraw its financial and military support for the various pro-separatist groups operating in eastern Ukraine. As part of any such agreement, the region would be allowed some devolved powers.

At the same time, the Ukrainian President would agree not to apply to join NATO. In return, President Putin would not seek to block or interfere with the Ukraine’s new trade relations with the European Union under a pact signed a few weeks ago.

Second, the Ukraine would be offered a new long-term agreement with Russia’s Gazprom, the giant gas supplier, for future gas supplies and pricing. At present, there is no gas deal in place; Ukraine’s gas supplies are running low and are likely to run out before this winter, which would spell economic and social ruin for the country.

As part of the deal, Russia would compensate Ukraine with a billion-dollar financial package for the loss of the rent it used to pay for stationing its fleets in the Crimea and at the port of Sevastopol on the Black Sea until Crimea voted for independence in March.

Thursday, December 19, 2013

Prosecutor says strip search of India diplomat 'standard'

Devyani Khobragade, India's deputy consul general(Photo: Mohammed Jaffer, AP)
All this in the land of the "free and the brave"?  You know of course what will happen is they will put in a procedure to exempt diplomats and continue treat US citizens this way... but at least this incident exposes what has become routine in law enforcement in a very public way.  All secrets will be exposed... Eternal Essence is seeing to it.  And they asked "who will this be enforced?".... hahaha -AK

Prosecutor says strip search of India diplomat 'standard'
Oren Dorell, USA TODAY 10:34 p.m. EST December 18, 2013
AP India US Diplomat Arrest

Indian diplomat says she was subjected her to a strip-search, cavity-search and DNA swabbing
The case has sparked widespread outrage in India and infuriated the government
Indian diplomat was arrested on visa charges in New York City

The arrest of a low-level diplomat from India over maid pay in New York has spun into an international incident that is threatening relations between the United States and a longtime ally.

Secretary of State John Kerry called a cabinet official in New Delhi on Wednesday to express regret over the arrest of India deputy consul general Devyani Khobragade, who was stripped- and cavity-searched during her arrest on charges that she didn't pay her housekeeper enough money.

The India government reacted with outrage, going so far as to remove security barriers outside the U.S. Embassy in New Delhi and canceling duty-free liquor deliveries to the embassy.

Prime Minister Manmohan Singh described the diplomat's treatment as "deplorable" and protests have broken out in India.

"We don't want this to negatively impact our bilateral relationship (with India), and we'll keep talking about it with them on the ground and here," said Marie Harf, deputy spokeswoman at the State Department.

Khobragade said the U.S. Marshals Service subjected her to an intrusive search and DNA swabbing following her arrest last week outside her daughter's Manhattan school on visa charges despite her "incessant assertions of immunity."

Tuesday, September 3, 2013

BRICS agree on $50bn IMF rival bank, ‘difficult’ details remain

BRICS agree on $50bn IMF rival bank, ‘difficult’ details remain 
03 Sep 2013

The ‘big five’ of the developing world, the BRICS nations, will meet on the sidelines of the G20 to further iron out the details of their proposed development bank, which will pool foreign reserves from the five nations to create a fund of up to $100bn.
Leaders from Brazil, Russia, India, China, and South Africa will meet in St. Petersburg to discuss the progress of the bank to rival the dominance of the World Bank and the IMF, and to establish a new joint currency reserve arrangement.

So far the emerging economies have agreed on $50bn in capital, but there are still ‘difficult details’ that could take months to sort out, Russian Russian Deputy Finance Minister Sergei Storchak said.

"These are systemic themes, complicated, [and] negotiations are difficult. We must assume that the bank will not start functioning as fast as one could imagine," Storchak said. "It will take months, maybe a year."

The bank will be set up by 2015 Storchack confidently said in June at the St. Petersburg Economic Forum. The project was approved at the BRICS summit in Durban, South Africa in March 2013.

Thursday, May 2, 2013

China Crosses 'Line Of Actual Control'
With Stealth Invasion Of India

China Crosses 'Line Of Actual Control' With Stealth Invasion Of India
Submitted by Tyler Durden on 05/02/2013 15:10 -0400

●  China India Newspaper

Whether this is just a 'misunderstanding' or a land-grab to make up for Japan's Senkaku actions, the Indians are claiming that a platoon of Chinese soldiers have crossed the so-called 'Line of Actual Control' in the Indian-held Ladakh region. They have remained there for two weeks and even as India complains, the Chinese deny, saying that they are "firmly opposed to any acts that involve crossing the Line of Actual Control and sabotaging the status quo." Indian officials fear that if they react with force, the face-off could escalate into a battle. But doing nothing would leave a Chinese outpost deep in territory India has ruled since independence. "If they have come 19 kilometers into India, it is not a minor LAC violation. It is a deliberate military operation. And even as India protests, more tents have come up," said one analyst but the Indians are rattling other sabres. China is India's biggest trading partner, with bilateral trade heavily skewed in China's favor, crossing $75 billion in 2011. Politicians are demanding Chinese imports are banned, "the Chinese have to learn that such aggression cannot be delinked from trade." Most are baffled by Beijing's motives, since its actions could force India to move closer to Beijing's biggest rival, the United States; though perhaps bringing that closer is just the point.

Via Yahoo,
The platoon of Chinese soldiers slipped across the boundary into India in the middle of the night, according to Indian officials. They were ferried across the bitterly cold moonscape in Chinese army vehicles, then got out to traverse a dry creek bed with a helicopter hovering overhead for protection.

They finally reached their destination and pitched a tent in the barren Depsang Valley in the Ladakh region, a symbolic claim of sovereignty deep inside Indian-held territory. So stealthy was the operation that India did not discover the incursion until a day later, Indian officials said.

Tuesday, January 1, 2013

India launches new social welfare system

India has 440 million people living below the poverty line

India launches new social welfare system
Updated: 15:31, Tuesday, 01 January 2013

India will send billions of dollars in social welfare money directly to its poor under a new programme beginning today.

The scheme aims to cut out the middlemen blamed for the massive fraud that plagues the system.

Previously officials often only handed out cash to the poor after taking a cut and were known to enrol fake recipients or register unqualified people.

The country has 440 million people living below the poverty line.

The new programme would see welfare money directly deposited into recipients' bank accounts and require them to prove their identity with biometric data, such as fingerprints or retina scans.

Finance Minister P Chidambaram has described the venture as "nothing less than magical".

However, the opposition Bharatiya Janata Party has accused the ruling Congress party of using the programme to gain political mileage ahead of elections expected in 2014.

Other critics accuse the government of hastily pushing through a complex programme in a country where millions do not have access to electricity or paved roads, let alone neighbourhood banks.

The programme is loosely based on Brazil's widely praised Bolsa Familia scheme, which has helped lift more than 19 million people out of poverty since 2003.

India's programme will begin in 20 of the country's 640 districts today, affecting more than 200,000 recipients.

Minister Chidambaram said it will be progressively rolled out in other areas in the coming months.

"In a huge new experiment like this you should expect some glitches. There may be a problem here and there, but these will be overcome by our people," Mr Chidambaram said.

He appealed for patience with the programme, which he called "a game changer for governance".

As a first step, the government has said it plans to begin directly transferring money it would spend on programmes such as scholarships and pensions.

Eventually the transfers are expected to help fix much of the rest of India's welfare spending, though Mr Chidambaram said the government's massive food, kerosene and fertilizer distribution networks, which are blamed for much of the corruption and lost money, would be exempt.

The programme will use data from Aadhar, a government project working to give every Indian identification numbers linked to fingerprints and retina scans.

Currently hundreds of millions of Indians have no identity documents.

Yesterday, 208 activists and scholars published an open letter expressing concern that the government was forcing the poor to enrol in Aadhar to get welfare benefits without putting safeguards in place to protect their privacy.

They also expressed fears the government planned to eventually replace the food distribution system for the poor, the largest programme of its kind in the world.

Tuesday, July 17, 2012

HSBC Allowed Drug and Terrorism Money Laundering

HSBC Allowed Drug Money Laundering, Apologizes: Senate

WASHINGTON: HSBC Holdings Plc put itself at the mercy of the US Senate on Tuesday, acknowledging shortcomings in its anti-money laundering operations and revealing the resignation of a global executive.

David Bagley, a top compliance executive at HSBC since 2002, told a Senate investigative panel that he would step down, after the panel released a scathing report calling out a "pervasively polluted" culture at the bank.

The Senate report, which came after a year-long inquiry, said the bank had routinely acted as a financier to clients routing funds from the world's most dangerous corners, including Mexico, Iran and Syria.

Tuesday, April 3, 2012

A South African Reader Comments
on Ben Fulford's Latest Post

Hilarious that Fulfie describes the coalition as BRICs (small s for South Africa). There’s been articles locally about how small South Africa is in comparison to the others, and how we’ve only been invited in, probably, coz China wants access to Africa through South Africa. One local cartoonist was brilliant today (a briquette is something you put on a BBQ. LOL) The showerhead on Zuma’s head relates to his belief that having a shower after sex with someone HIV+ would protect you. The cartoonist in question doesn’t like Zuma. LOL.