cue the lightning bolts

the only question that matters: is it true?

Iran has signed the NPT. As a signatory to the NPT, Iran may rightfully, legally, use nuclear technology for peaceful energy purposes. Iran has submitted to and passed repeated IAEA inspections. The US intelligence community (NIE) does not consider Iran a nuclear threat. Israel refuses to sign the NPT. Israel has an estimated several hundred undeclared nuclear weapons. Russia and China have warned that an attack on Iran will have global consequences. That's the situation in a nutshell. Where to next, people? Where to?

Have I now become your enemy by telling you the truth? - Galatians 4:16


gold, dubai, india

1. Bob Chapman: investors buy gold


As we look back some years from now when most of us will be in the Elysian Fields, history will comment on America a nation run by common criminals. Many of you know who they are, and those who do not are about to find out. Richard Nixon rolled for the Illuminati on 8/15/71 by taking us off the gold standard. In the year 1987 we were beset upon by the master criminal Alan Greenspan. He was later joined by other Illuminists, including Robert Rubin and Ben Bernanke and many others too numerous to mention. All of these immoral, diabolical people have destroyed our financial system and they did it deliberately to enrich themselves and to bring about world government. Others throughout the world have seen this period of looting since WWII and want to bring an end to it, but heretofore have been threatened with extinction if they disagreed with these illuminated masters of the universe. That time for the end to begin is fast approaching and the elitists are well aware of that, thus, the final push for one-world government. The process of dumping dollar denominated assets has been moving forward for the past few years. They are being exchanged for many things, but gold is the most important. Foreigners are tired of receiving constantly depreciating dollars for their goods and services. They also do not want US bonds and mortgage paper. Incidentally, the current high absorption of US government debt by foreign central banks is by a handful of banks that are being fed money and credit by our Federal Reserve. The funds to buy this paper are being supplied by our privately owned Federal Reserve. The eventual redemption will be met by further depreciated dollars until such time as there is official devaluation. That is why china, Russia, Brazil, Iran, India and others are dumping dollars. The only time they hold or buy is when they need to devalue their own currencies. A good example is the Chinese Yuan, which is unchanged for the past year as the dollar dropped from 89.5 to 75.50 just since early May.

Next comes the scandals. In the forefront are the tungsten bars coated with gold discovered by the Chinese several weeks ago, which has been blacked out in the elitist owned media. The bars were held and delivered from London and believed to be from the ETF-GLD, which received them from the US government. Our question is how much gold held by the US government is a fraud? Is GLD a fraud? Is SLV a fraud? Why can’t London OTC gold dealers deliver gold and have to borrow it from the Bank of England? Why does Comex not have gold to deliver and has to borrow it from Canada and the ECB? When is the CFTC going to stop the short side concentration in gold and silver? When is the SEC going to stop black box front-running and naked shorting? Once these factors assert themselves will the system break down and finally will some of these crooks go to jail? Wall Street, banking and our government continue to steal from the American people with the assistance of the Federal Reserve. Is it no wonder that 75% to 80% of Americans want the Fed audited? We must also keep in mind that the public still only knows a fraction of what has been done to them. They know little about front running, naked shorting or bogus gold bars, thanks to our media. Criminals are doing 20 to 30 years for much less than what these crooks have done and the core, the heart of the mechanism, springs from the Federal Reserve. The Fed is the center from which the fraud emanates.

...Another factor not yet considered is when will those who were involved in the tungsten gold bar caper be exposed? Who created the bars and then sold them? It is a scandal that is really an afterthought to the massive physical buying in the marketplace, particularly by the Chinese and Indians.

read more @ global research

2. India could buy rest of IMF gold on offer


An Indian financial newspaper report suggests that the country is considering buying the remainder of the IMF gold currently up for sale over and above the 200 tonnes it has already bought.

SINGAPORE (Reuters) - India is open to buying more gold from the International Monetary Fund following its purchase of 200 tonnes earlier this month, the Financial Chronicle newspaper said on Wednesday, helping to drive gold prices to an all-time high.

But India's central bank governor, Duvvuri Subbarao, declined to comment on whether the bank would buy more gold from overseas, however.

The paper said that subject to acceptable conditions, India's central bank could well buy the balance of the initial 403.3 tonnes, or one-eighth of the IMF's total gold holdings, that the Fund had planned to sell.

read more @ pimpin turtle

3. Gordon Brown attempts to play down global impact of Dubai crisis

Gordon Brown claimed today that the Dubai financial crisis would not cause major damage to the global economy.

The prime minister said this morning that Dubai's problems were "a setback", during a summit meeting of Commonwealth leaders in Trinidad and Tobago. "My own view is the world financial system is stronger now and able to deal with the problems that arise," said Brown.

"I think we will find it is not on the scale of previous problems we have dealt with. I think global recovery has depended on monetary action and fiscal stimulus," he added.

Brown also said that he had spoken to senior figures in Dubai, and was confident that their plans to redevelop the ports they own in the UK would still go ahead.

"The world economy has put in place mechanisms by which when a problem starts in one country we are in a far better position to monitor it and to gauge the effects," Brown said in Port of Spain.

read more @ guardian

4. Robert Fisk: India may hold whip hand in this power game

There are, however, two basic truths about Dubai which, predictably, have not found their way into market speculation or newspaper analysis. The first is that Dubai may soon find itself a satellite not of its Abu Dhabi capital but of India. The biggest merchants in Dubai are Indian – they run the gold market, even the bookshops in Sheikh Mohamed's playpen – and west India is only two hours' flying time away. In fact, until 1962 – and you have to be an oldie to understand the emirates' economic world – the Indian rupee was the currency for most of the Gulf, including even Kuwait.


But deep in their golden mosques, the ruling family are asking themselves some serious questions this Islamic holiday. Why was the call for a moratorium on debt so crudely and unprofessionally put together?

As one fine source – Independent readers must take on trust how high up the ladder he is, but he should have known of this announcement and didn't – said privately last night: "It came as a shock and a surprise to everybody, not only to me but to anyone I know. All the information I had till yesterday was that everything was in hand. We had the finding for everything coming due this year – there was the $10 billion [£6 million] issued back in February and then nearly $8 billion over the past month – the money's there.

"So it's a puzzle, particularly since it was very clear, to people who knew, that the bond coming due in December was a litmus test. Everyone was planning to repay it. The people of Abu Dhabi didn't know this was going to happen. The market did not expect anything like this."

read more @ independent

5. scientists: South African gold reserves are 90% lower than thought

Research shows that production rates should fall permanently below 100 tonnes a year within the coming decade

JOHANNESBURG - The apparent bottom line in a paper published in the South African Journal of Science is that South Africa's gold industry is on final deathwatch, despite claims of massive existing below-ground reserves. Chris Hartnady, research and technical director of Cape Town earth sciences consultancy Umvoto Africa, has found that South Africa's Witwatersrand goldfields are around 95% exhausted, and anticipates that production rates should fall permanently below 100 tonnes a year within the coming decade.

Gold production from the Witwatersrand, the biggest known gold field in the world, peaked at around 1,000 tonnes in 1970 and has declined ever since. Hartnady says that while initially (1970-1975) the decline was "quite precipitous", it has been interrupted by only short periods of slight trend reversal (1982-1984 and 1992-1993).

Leon Esterhuizen, a London-based specialist analyst at RBC Capital Markets, has reacted to the research by saying that "South African gold is dying -- this is not new news", but adds "that it may be dying faster than we currently believe is novel". On the levels of reserves, Hartnady finds that the South African "residual gold reserve" after production through 2007 is only 2 948 tonnes, a little less than three times the 1970 production figure, and much less than 10% of the officially cited reserve.

read more @ pimpin turtle

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