Wednesday, December 4, 2013
Yuan Passes Euro as 2nd-Most Used Trade-Finance Currency!
China’s yuan overtook the euro to become the second-most used currency in global trade finance after the dollar this year, according to the Society for Worldwide Interbank Financial Telecommunication.
The currency had an 8.66 percent share of letters of credit and collections in October, compared with 6.64 percent for the euro, Swift said in a statement today. China, Hong Kong,Singapore, Germany and Australia were the top users of yuan in trade finance, according to the Belgium-based financial-messaging platform. The yuan had the fourth-largest share of global trade finance in January 2012 with 1.89 percent, while the euro’s was the second-biggest at 7.87 percent, Swift said.
Tuesday, December 3, 2013
BREAKING: Canadian Maple Leaf Sales Q1-Q3 Already Surpass 2012 Total
As the Fed and Central Banks continue to pump huge amounts of liquidity into the market, investors have been buying record amounts of Canadian Silver Maples. Demand for the Canadian Gold & Silver Maples hit a record in 2011, but then declined in 2012 as investors started to believe that the monetary authorities had the financial system back under control — an illusion that will cost them dearly in the future.
After the huge take-down of the price of gold and silver during April of this year, demand for the Canadian Silver Maple Leaf bullion coins picked up to record levels. Not only were Silver Maple sales strong in the second quarter due to the extremely low price of silver, but demand was even greater during the third quarter… hitting a new all time record.
If we look at the chart below, we can see just how much sales of the Canadian Silver Maples have increased compared to the same period last year.
In the first nine months of 2012 total Silver Maple sales were only 12.8 million compared to the 19.7 million sold so far in 2013. This is a huge 54% increase y.o.y at nearly 7 million more Silver Maples sold.
Again, the third quarter sales of Silver Maples hit a record of 6.7 million compared to 4.8 million in the same period last year. This is the same phenomenon taking place with Silver Eagle sales. Sales of Silver Eagles increased in the third quarter at 11.0 million compared to 10.8 million in Q2 2013.
Furthermore, Gold Maple Leaf sales in the third quarter are still quite strong even though demand has dropped off compared to the previous quarter.
Sales of Gold Maples are up a staggering 85% in 2013 at 867,000 ounces compared to the first nine months in 2012 when only 468,000 were sold. Actually, Gold Maple sales are holding up much better than Gold Eagle sales.
Gold Maple vs Gold Eagle Sales (ounces)
Gold Maple Q1 = 269,000
Gold Maple Q2 = 403,000
Gold Maple Q3 = 195,000
Total Q1-Q3 = 867,000
Gold Eagle Q1 = 292,500
Gold Eagle Q2 = 336,000
Gold Eagle Q3 = 75,000
Total Q1-Q3 = 703,000
Here we can see that Canadian Gold Maples sold 195,000 oz during the third quarter compared to 75,000 oz of Gold Eagles. So, in the first nine months of 2013, Gold Maples have sold 23% more (164,000 oz) than Gold Eagles.
Gold & Silver Maples Sales Already Surpass 2012 Totals
Demand for the Gold & Silver Maple Leaf coins have been so strong in the first three-quarters of 2013 that they have already beat the total figures for 2012:
Total Silver Maple Leaf sales in the first nine months of 2013 were 19.7 million, surpassing the total 18.1 million for 2012. In addition, Gold Maple sales are already 12% higher at 867,000 oz compared to 772,000 oz for the total in 2012.
If this strong sales trend continues, we may see another ALL TIME RECORD in Silver Maple sales in 2013. In 2011, the Royal Canadian Mint sold 23.1 million Silver Maples which is only 3.4 million more than has been sold in the first three-quarters of 2013.
I would imagine we are going to see at least an additional 4.5-5 million Silver Maples sold in the last quarter which would bring the total for 2013 to be 24.5-25 million. I don’t believe Gold Maple sales in 2013 will surpass their record of 1,150.285 set in 2011. We would have to see more than 284,000 oz of Gold Maple sold in the remaining quarter of 2013 to beat this record.
This just goes to show how much more investors are buying Silver Maples & Eagles compared to their gold cousins… the Gold Maples & Eagles.
I believe silver will outperform gold in percentage terms as an investment and store of value in the next several years. As I have mentioned several times in prior articles, the Fed and monetary authorities can print money, but they cannot print Silver, Gold or Barrels of Oil.
As gold revalues much higher in the future, most of the public will only be able to purchase silver as its price will be more afordable. Thus, the demand for silver will be much greater than gold, pushing its value up to levels that the present disgruntled precious metal investors would believe impossible.
Sunday, December 1, 2013
October Chinese gold imports from HK massive 131 tonnes
Far from slowing down, net Chinese gold imports through Hong Kong accelerated in October to 131.2 tonnes according to figures sent to Reuters today - the seventh month this year that China has imported over 100 tonnes of gold and the sixth in a row. Click Here To Read More From MineWeb:
Tuesday, November 26, 2013
In The Future, You May Have To Pay The Bank To Hold Your Money!
Now, it is considering a policy change that could lead banks to charge depositors negative interest rates.
Read more: http://www.businessinsider.com/in-the-future-you-may-have-to-pay-the-bank-to-hold-your-money-2013-11#ixzz2ljyMv3QE
Thursday, November 7, 2013
Tuesday, November 5, 2013
Tuesday, October 29, 2013
Judge :David-Wynn: Miller Quantum Grammer Seminar
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Friday, October 25, 2013
The Truth About the Health Care Bills - Michael Connelly, Ret. Constitutional Attorney
Well, I have done it! I have read the entire text of proposed House Bill 3200: The Affordable Health Care Choices Act of 2009. I studied it with particular emphasis from my area of expertise, constitutional law. I was frankly concerned that parts of the proposed law that were being discussed might be unconstitutional. What I found was far worse than what I had heard or expected.
To begin with, much of what has been said about the law and its implications is in fact true, despite what the Democrats and the media are saying. The law does provide for rationing of health care, particularly where senior citizens and other classes of citizens are involved, free health care for illegal immigrants, free abortion services, and probably forced participation in abortions by members of the medical profession.
The Bill will also eventually force private insurance companies out of business, and put everyone into a government run system. All decisions about personal health care will ultimately be made by federal bureaucrats, and most of them will not be health care professionals. Hospital admissions, payments to physicians, and allocations of necessary medical devices will be strictly controlled by the government.
However, as scary as all of that is, it just scratches the surface. In fact, I have concluded that this legislation really has no intention of providing affordable health care choices. Instead it is a convenient cover for the most massive transfer of power to the Executive Branch of government that has ever occurred, or even been contemplated. If this law or a similar one is adopted, major portions of the Constitution of the United States will effectively have been destroyed.
The first thing to go will be the masterfully crafted balance of power between the Executive, Legislative, and Judicial branches of the U.S. Government. The Congress will be transferring to the Obama Administration authority in a number of different areas over the lives of the American people, and the businesses they own.
The irony is that the Congress doesn’t have any authority to legislate in most of those areas to begin with! I defy anyone to read the text of the U.S. Constitution and find any authority granted to the members of Congress to regulate health care.
This legislation also provides for access, by the appointees of the Obama administration, in direct violation of the specific provisions of the 4th Amendment to the Constitution, of all of your personal healthcare information, your personal financial information, and the information of your employer, physician, and hospital. All of this is a protecting against unreasonable searches and seizures. You can also forget about the right to privacy. That will have been legislated into oblivion regardless of what the 3rd and 4th Amendments may provide.
If you decide not to have healthcare insurance, or if you have private insurance that is not deemed acceptable to the Health Choices Administrator appointed by Obama, there will be a tax imposed on you. It is called a tax instead of a fine because of the intent to avoid application of the due process clause of the 5th Amendment. However , that doesn’t work because since there is nothing in the law that allows you to contest or appeal the imposition of the tax, it is definitely depriving someone of property without the due process of law.
So, there are three of those pesky amendments that the far left hate so much, out the original ten in the Bill of Rights, that are effectively nullified by this law. It doesn’t stop there though.
The 9th Amendment that provides: The enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people;
The 10th Amendment states: The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are preserved to the States respectively, or to the people. Under the provisions of this piece of Congressional handiwork neither the people nor the states are going to have any rights or powers at all in many areas that once were theirs to control.
I could write many more pages about this legislation, but I think you get the idea.
This is not about health care; it is about seizing power and limiting rights. Article 6 of the Constitution requires the members of both houses of Congress to “be bound by oath or affirmation to support the Constitution.” If I was a member of Congress I would not be able to vote for this legislation or anything like it, without feeling I was violating that sacred oath or affirmation. If I voted for it anyway, I would hope the American people would hold me accountable.
For those who might doubt the nature of this threat, I suggest they consult the source, the US Constitution, and Bill of Rights. There you can see exactly what we are about to have taken from us.
Michael Connelly (First published in June 2012)
Retired attorney,
Constitutional Law Instructor
Carrollton, Texas
Retired attorney,
Constitutional Law Instructor
Carrollton, Texas
Thursday, October 24, 2013
Australia lifts debt ceiling by 66% - no shutdown required
The Australian government has hiked its debt borrowing limit by two-thirds in a bid to alleviate concerns over a fiscal crisis.
The moves comes just after the U.S. Congress thrashed out a last-minute deal to raise its $17 trillion debt limit last week, following a 16-day partial government shutdown and fears that the world's largest economy could default on its debt.
Tuesday, October 22, 2013
S. Korea, Indonesia agree to sign won-rupiah currency swap deal
The agreement was made between South Korea's Finance Minister Hyun Oh-seok and his Indonesian counterpart during a meeting in Washington on Saturday. Hyun is there to attend the annual meetings of the International Monetary Fund and the World Bank.
Clicck here to read more at the Korea Herald
S.Korea Signs $5.4bn Currency Swap Deal With United Arab Emirates
South Korea’s central bank said on Sunday it signed a bilateral, three-year currency swap deal with the United Arab Emirates worth up to $5.4 billion in a bid to strengthen trade and financial ties between the two countries.
The arrangement lets either country swap 5.8 trillion Korean won for 20 billion dirham, or vice versa. The Bank of Korea (BOK) said the agreement expires in three years but can be extended if needed.
S Korea, Malaysia sign US$4.7b currency swap deal
SEOUL: South Korea and Malaysia on Sunday signed a currency swap agreement worth $4.7 billion, Seoul's central bank said, in a move to encourage bilateral trade and help curb currency swings.
The latest agreement allows the two Asian nations to purchase and repurchase each other's currency of up to 5 trillion won ($4.7 billion), or 15 billion ringgit, the central Bank of Korea said in a statement.
Democratic Republic Of Congo Plans to Tax Miners in Francs to Cut Dollar Use
Democratic Republic of Congo Prime Minister Matata Ponyo said his government plans to tax mining companies in local currency in an attempt to “drastically reduce” dollarization in the economy within three years.
The DRC franc has been stable for four years and “we don’t have any justification for people to pay taxes in U.S. dollars,” Ponyo said in an interview on Oct. 11 in Washington, speaking through an interpreter. “We are in the process to de-dollarize our economy and bring people to use the local currency more and more.”
Monday, October 21, 2013
U.S. debt jumps a record $328 billion — tops $17 trillion for first time!!!
U.S. debt jumped more than $300 billion Thursday, the first day the federal government was able to borrow money
under the deal President Obama and Congress sealed last week.
under the deal President Obama and Congress sealed last week.
Debt now equals $17.075 trillion, according to figures posted online by the Treasury Department on Friday.
by the Treasury Department on Friday.Click here to read more from The Washington Times
Wednesday, October 16, 2013
China and ECB sign $57bn (350 bln yuan) currency swap deal!!! Another Nail In The Coffin Of The U.S. Dollar
China and the European Central Bank have signed a currency swap agreement worth 350bn yuan ($57bn; £36bn), state-owned Xinhua news agency has said.
Such agreements mean the central banks can exchange currencies and firms can settle trade in local currencies rather than in US dollars.
The deal is one of the largest for China as it looks to build a more international role for the yuan.
Tuesday, October 15, 2013
Wednesday, October 9, 2013
China Imports Over 100 Tons Of Gold Through Hong Kong For The 4th Straight Month!!!
People have been predicting that imports of gold into China would slow down – well August figures suggest they may have, but only by a minute 3 tonnes compared with a month earlier, and the country remains on track to comfortably exceed 1,000 tonnes of known net gold imports for the year, with a total of 723 tonnes imported via Hong Kong for the first eight months.
Extrapolating this over the full year would give a total import figure (via Hong Kong alone) of 1,084.5 tonnes. On the evidence of the past six months’ import figures, the full year total could be quite a bit higher if recent momentum is sustained – and there’s no real sign of it slowing down, at least not yet – it seems more likely that the full year figure could well end up at more like 1,150 tonnes.
Tuesday, October 8, 2013
World Bank Whistleblower Karen Hudes Is Taking The Internet By Storm!!!
Interview With Greg Hunter on USA Watchdog
Karen Claims That The Bank of Hawaii Has 170,000 Tons Of Gold Stored.
More than The World Gold Council Says has ever been mined in History!!!
Project Camelot Interview
Thursday, October 3, 2013
On June 22nd 2013 The Bank of England signed a pound-yuan swap accord!!
Bank of England Governor Mervyn King and his Chinese counterpart Zhou Xiaochuan (周小川) agreed to a three-year currency swap line to promote financial stability and trade between China and Britain.
The maximum value of the arrangement is 200 billion yuan (US$33 billion), according to a statement published by the UK central bank on its Web site on Saturday. The People’s Bank of China put the sterling value at ￡20 billion (US$31 billion)
Thursday, September 19, 2013
Wednesday, September 18, 2013
25 FAST FACTS ABOUT THE FEDERAL RESERVE
As we approach the 100 year anniversary of the creation of the Federal Reserve, it is absolutely imperative that we get the American people to understand that the Fed is at the very heart of our economic problems. It is a system of money that was created by the bankers and that operates for the benefit of the bankers. The American people like to think that we have a “democratic system”, but there is nothing “democratic” about the Federal Reserve. Unelected, unaccountable central planners from a private central bank run our financial system and manage our economy. Click Here To Read More At SilverDoctors.Com
Friday, September 6, 2013
Gold Imports to China From Hong Kong Climb on Physical Demand!!
Gold shipments to China from Hong Kong increased in July as importers took advantage of local prices that were an average 2.1 percent higher than global markets and as mainland investors bought jewelry and coins.
Net imports, after deducting flows from China into Hong Kong, were 113 metric tons, from 101 tons a month earlier, according to calculations by Bloomberg. Mainland buyers purchased 129 tons in July, including scrap, compared with 113 tons in June, data from the Hong Kong government showed today.
Poland Nationalizes Retirement Accounts!
The plan calls for private pension funds to be forceably converted to a state guaranteed system, without providing retirement holders ANY COMPENSATION!
The Polish pension funds’ organisation said the changes may be unconstitutional because the government is taking private assets away from them without offering any compensation.
Click Here To Read More At Silverdoctors.com
The Stock Market Tricks People Into Thinking That The Economy Is Recovering!!!!
The stock market may be hitting all time highs but the economy is not. With the Federal Reserve printing $85 Billion per month the money has to go somewhere and a lot makes it's way into the stock market. Don't be fooled by Wall street!!
Saturday, August 10, 2013
World's First Silver Motorcycle In Mumbai At India International Jewelery Show!!!
Mumbai, Aug 3 — Style statement has reached a new height with the creation of a motorcycle made fully of pure silver by a leading jewelry house here and priced between Rs.5-10 million, a representative of the maker said here Saturday.
The silver bike will be unveiled at the prestigious India International Jewelry Show (IIJS) here Aug 8-12.
Silver Emporium, a leading silver industry player, has created the world's first handcrafted motorcycle in silver.
"It is absolutely road worthy and barring the engine, tyres and suspension, rest all components are in silver," Silver Emporium managing director Rahul Mehta told IANS.
Click here to read more at NYDailyNews.com
Click here to read more at NYDailyNews.com
July 2013 Silver Imports In India Are The Highest In 5 Years.
AHMEDABAD: Silver imports recorded a staggering 258.65% growth at 857 metric tonnes (MT) in the first four months (April-July) of 2013-14 as compared to 239 MT by July 2012.
The imports of 274.922 MT in July are the highest in last five years in the first four months of a financial year. In fact, silver imports in July 2013 are the second highest in any month in the last five years.
Gold replaces narcotics as the biggest smuggled item in India!
The Bombay Bullion Association has stated that the tighter import curbs by the government have resulted in a huge gap between supply and demand for the precious metal. This huge gap is being partly filled by the illegal traffickers who buy the gold overseas at a cheaper rate and sells it to domestic jewelers or bullion agents by evading tax.
Click here to read more at Resource Investor.com
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