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Paul Merrell

Turkey Repatriates All Gold From The US In Attempt To Ditch The Dollar | Zero Hedge - 0 views

  • After Venezuela, Germany, Austria and the Netherlands prudently repatriated a substantial portion (if not all) of their physical gold held at the NY Fed or other western central banks in recent years, one month ago Turkey announced that it too has decided to repatriate its gold stored in the US Federal Reserve and deliver it to the Istanbul Stock Exchange, according to reports in Turkey's Yeni Safak. As we reported at the time, it wouldn't be the first time Turkey has asked the NY Fed to ship the country's gold back: in recent years, Turkey repatriated 220 tons of gold from abroad, of which 28.7 tons was brought back from the US last year. And now, according to a report by the Swiss Schweiz am Wochenende, the repatriation is complete with the Turkish central bank withdrawing all of its gold reserves from the U.S. due to the "tense political situation." However, in a strange twist, instead of moving the physical gold to Istanbul as the Turkish press reported in April, the Swiss newspaper notes that around 19 tons of Turkish gold is now stored at the Basel-based Bank for International Settlements. It was not immediately clear why Turkey would shift its gold from the NY Fed to the BIS, whose historical "gold rehypothecation" tendencies have been well documented over the years. According to the latest IMF data, Turkey’s total gold reserves are estimated at 596 tons in May, up 5 tons since April, and worth just under $23 billion, rising 40% over the past year. This makes Ankara the 11th largest gold holder, behind the Netherlands and ahead of India.
Paul Merrell

Scottish independence: Forget Yes and No - what about a United Kingdom of Independent S... - 0 views

  • Let’s face up to the facts – the majority of Scots want to be independent. They really do – whatever way they vote come Thursday. And this is dead clear from the poll of polls: which shows the Unionists winning to keep us together by only one per cent. Let’s be honest: that one per cent lead is not really a majority for the Union. That one per cent lead is all the No Campaign could muster for the Union, despite throwing the entire arsenal of City of London financial fear at Scotland. Those terrifying threats of collapsing banks and mystery currencies and runaway businessmen – well, they have only convinced a mere one per cent of Scots we are better together.It's clear that without fear, there would be a Scottish majority ready to go. And that means the current Union 1.0 looks illegitimate. That works the other way too: any sudden surge for the No Campaign  would hardly be lead to a legitimate Union either.
  • From what I can see, both options currently on the table look set to make millions angry. So what options are there that would work out in a way that made the most Scotsmen and Englishmen happy? The main argument coming out of Scotland is they want to be a nation again – they want the symbolic side of independence – and they want complete freedom to build the more social Scotland the way they have always wanted. They hate neo-liberalism. And I’m convinced the majority of Scottish voters would choose to go if they knew there was a safe way to maintain a currency Union with England. And it’s fair to say: England doesn’t want to pay for this socialism
  • Now what do they want down South? The real English thinking about why Scotland leaving is bad for England – though people seem unwilling to say it outright – is that severing the Union is a huge blow for our stature in the world.  This is something to take very seriously. The wars happening right now in Eastern Europe and the Middle East are every bit as geopolitically significant as the collapse of the Soviet Union. And a weak, wounded Britain is exactly what Vladimir Putin and the Islamic State would want. Do Scots want that? I think no.
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  • So are there ways we could give the Scots  and English what they both want? This seems contradictory. The Scots want to be independent but what to keep the pound; the English want to keep the Foreign Office and the British Army but don’t want to pay for any of Scotland’s wasteful social welfare.  And everyone, somehow, wants to keep being British.I think there is a third way for Scotland and England. The funny thing about the whole referendum on Scottish independence and the breathless debate about the Union is that it appears to be taking place without any reference to what being independent actually means these days in the Europe of the European Union.
  • Were both Edinburgh and London to be interested in working something out that would make the maximum number of happy Englishmen and Scotsmen they would probably do something like this. Whatever the result on Thursday they would declare a constitutional convention to dissolve Union 1.0 and set about creating a Union 2.0. But what might that United Kingdom look like?
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    Scots vote on Thursday, September 18. The polls have it neck-and-neck, with independence within the margin of error. If the vote goes for independence, that begins a disengagement process is scheduled to see an independent Scotland in May of 2016.
Gary Edwards

Breakaway Civilizations/ Rethinking History - Shows - Coast to Coast AM - 0 views

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    "Date: 03-16-14 Host: George Knapp Guests: Joseph P. Farrell, Brad Olsen In the first half, George Knapp was joined by author Joseph Farrell, who detailed his research into the possibility that a secret, breakaway civilization was formed by American elites following World War II. He explained that, after the war, the United States was faced with three formidable challenges: escaped Nazis bent on recreating their empire elsewhere, the Cold War, and the UFO phenomenon. In turn, Farrell surmised, a secret system was put into place to develop defenses against these dangers facing the country. He theorized that, in order to surreptitiously fund such a massive undertaking, the United States used the vast wealth that had been plundered by Japan during WWII to bankroll various projects. Farrell suggested that, over time, similar secret infrastructures were created by other technologically advanced countries such as England, Russia, and China. In the ensuing years since its creation, Farrell said, the American organization likely developed amazing technological capabilities far beyond what is known to the general population, hence the concept of a 'breakaway civilization,' which shares our planet but exists within a world of knowledge far different from our own. Manmade UFOs, weather control, and zero point energy may be achievements that have secretly been accomplished, but remain classified for fear of revealing technologies which could be weaponized and used against the United States. Farrell pointed to the emergence of 3D printing and the push for mining in space as potential signs of previously accomplished breakthroughs which are now slowly being introduced to the public. --------------------------------- In the latter half, author Brad Olsen discussed flaws in modern history and how conspiracy theories, esoteric insights, and fringe subjects can be used to help change a dead-end course for humanity. He contended that nearly every facet of human life, from science,
Paul Merrell

BBC News - Bank of England agrees Chinese London currency clearing hub - 0 views

  • The Bank of England has agreed a deal with the People's Bank of China to make London a hub for Chinese currency dealing. The memorandum of understanding, to be signed on Monday, sets out settlement and clearing arrangements for the renminbi, or yuan, in London. The signing is expected to be followed by the appointment of a London clearing bank for yuan. 62% of yuan payments outside of China already take place in London. Following an agreement with Beijing last year London asset managers are the only ones in the West able to invest directly in Chinese stocks and shares in yuan.
Gary Edwards

George Soros on the Coming U.S. Class War:      Information Clearing House - 0 views

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    Excellent story on George Soros, the epitome of evil.  The man who seeks to destroy America and the ideals of individual liberty and natural rights.  Of course, Soros claims to be anything but the evil Bankster who backs Obama and international ruling elites seeking to take out the American Constitution, and replace it with a socialist-militarist-corporatist governance under the command and control of international Banksters. One thing not covered in this story is how the reptillion Soros rose within the ranks of the Bankster illuminati?  Who staked his 1972 hedge fund innovation?  Who helped him escape first National Socialism, and then International Socialism, to become the primary mover of a new International socialism run by international Banksters?  excerpt: To many, the idea of Soros lecturing the world on "evil" is, well, rich. Here, after all, is an investor who proved-and profited hugely from-the now much-derided notion that the market, or in his case a single investor, is more powerful than sovereign governments. He broke the Bank of England, destroyed the Conservative Party's reputation for economic competence, and reduced the value of the pound in British consumers' pockets by one fifth in a single day. Soros the currency speculator has been condemned as "unnecessary, unproductive, immoral." Mahathir Mohamad, former prime minister of Malaysia, once called him "criminal" and "a moron." In the U.S., where the right still has not forgiven him for agitating against President George W. Bush and the "war on terror" after 9/11, which he described as "pernicious," his prediction of riots on the streets-"it's already started," he says-will likely spark fresh criticism that Soros is a "far-left, radical bomb thrower," as Bill O'Reilly once put it. Critics already allege he is stoking the fires by funding the Occupy movement through Adbusters, the Canadian provocateurs who sparked the movement. Not so, says So
Paul Merrell

Gates Foundation Sells Stake in U.K. Prison Operator G4S - Bloomberg - 0 views

  • The Gates Foundation Asset Trust, the entity that manages the investments for the $40.2 billion Bill & Melinda Gates Foundation, has liquidated its entire stake in G4S Plc (GFS), the world’s biggest security-services provider. “Like other large foundations, the foundation trust evaluates its holdings regularly, both for performance and fit,” John Pinette, a spokesman for the Gates family, said in a statement. “As a result of this, the foundation trust no longer holds an investment in G4S.” The Crawley, England-based company has attracted criticism for its contracts with the Israel prison system. The U.K.’s Guardian newspaper said in an editorial on June 4 that G4S should “end the corporation’s participation in Israel’s brutal occupation” in the West Bank. Since 2011, G4S has conducted a series of reviews in relation to its business in Israel, according to the company’s website. Its latest investigation concluded there was “no plausible case against G4S on the ground of alleged war crimes commited by Israel.”
  • The Gates Foundation Asset Trust, the entity that manages the investments for the $40.2 billion Bill & Melinda Gates Foundation, has liquidated its entire stake in G4S Plc (GFS), the world’s biggest security-services provider. “Like other large foundations, the foundation trust evaluates its holdings regularly, both for performance and fit,” John Pinette, a spokesman for the Gates family, said in a statement. “As a result of this, the foundation trust no longer holds an investment in G4S.” The Crawley, England-based company has attracted criticism for its contracts with the Israel prison system. The U.K.’s Guardian newspaper said in an editorial on June 4 that G4S should “end the corporation’s participation in Israel’s brutal occupation” in the West Bank. Since 2011, G4S has conducted a series of reviews in relation to its business in Israel, according to the company’s website. Its latest investigation concluded there was “no plausible case against G4S on the ground of alleged war crimes commited by Israel.”
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    A very high profile win for the Palestinian Boycott, Divestment, and Sanctions ("BSD") movement as the Gates Foundation divests.  Despite the bravado in this article, G4S announced today that it will not renew any of its contracts to provide security services not only in Palestine but also in Israel. http://electronicintifada.net/blogs/ali-abunimah/g4s-end-israel-prison-contracts-pressure-mounts-over-torture-complicity After the Gates Foundation announced its divestment, the UK government announced that it was launching an investigation of G4S activities in Israel.  The BSD movement, modeled on the BSD campaign that brought down the apartheid government of South Africa, has been racking up more and more wins lately, in each week.  BSD activists are in guarded optimism mode because, they say, G4S has previously lied about its plans in regard to Palestine. In addition to providing prison security services, G4S also operates a series of border checkpoints between Israel, Israel settlements in Palestine, and areas of Palestine still occupied by indigenous Palestinians, including checkpoints along the border of the largest open air prison in the world, the Gaza Strip. The BSD movement has also targeted American companies that profit from Israel's illegal occupation and colonization of Palestine, including Caterpillar Corp. The ultra-high profile divestment by the Gates Foundation just might have been a watershed moment that unleashes a torrent of related actions by other investors around the world.   
Joseph Skues

United Grand Lodge of England » Who's Who - 0 views

  • Grand Master Prince Edward George Nicholas Paul Patrick was born in 1935, and educated at Eton and Le Rosey, Switzerland. He is a cousin both of the Queen and of the Duke of Edinburgh.
  • His father,
  • Jonathan Spence was born in 1960, and educated at the Mathematical School, Rochester and Trinity College, Oxford. After a career in banking, from which he retired in 2006 as Chief Executive of a London bank, he now holds a senior position in education.
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  • He has been the Grand Master of the United Grand Lodge of England since he was first elected in 1967
  • Pro Grand Master Peter Lowndes was born in 1948 and educated at Eton. He is a Fellow of the Royal Institution of Chartered Surveyors (RICS).
  • was the fourth son of King George V, and his mother, Princess Marina, was the daughter of Prince Nicholas of Greece.
  • He was appointed Grand Director of Ceremonies in 2003 and served in that office until his appointment as Deputy Grand Master on 11 March 2009.
  • Assistant Grand Master David Williamson was born in Bombay, India, in 1943 and educated at King Edward VI School, Lichfield, Queen Mary College, London and King’s College, Cambridge. He trained as a pilot, and was subsequently appointed as Training Captain and Assistant Flight Training Manager for British Airways until his retirement in 1998.
  • Appointed as Assistant Grand Director of Ceremonies in 1995,
  • Nigel Brown was born in 1948,
  • 12 years as a business consultant specialising in advising clients on winning competitive global tenders.
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    He is the Queen's nephew and in line to the throne of Greece,(which is being robbed by the Goldman Sachs in the recession). CONNECT THE DOTS
Paul Merrell

Bundesbank, PBOC Sign Accord to Make Frankfurt Yuan Hub - Bloomberg - 0 views

  • Germany’s Bundesbank and the People’s Bank of China agreed to cooperate in the clearing and settling of payments in renminbi, paving the way for Frankfurt to corner a share of the offshore market. The central banks signed a memorandum of understanding in Berlin today, when Chinese President Xi Jinping met German Chancellor Angela Merkel, the Frankfurt-based Bundesbank said in an e-mailed statement. Germany’s financial capital prevailed over Paris and Luxembourg in a euro-area race to win trade in renminbi, which overtook the euro to become the second-most used currency in global trade finance in October, according to the Society for Worldwide Interbank Financial Telecommunication. The U.K. Treasury said on March 26 that the Bank of England would sign an initial agreement with the PBOC on March 31 to clear and settle yuan transactions in London.
Paul Merrell

"It's Carnage" - Swiss Franc Soars Most Ever After SNB Abandons EURCHF Floor; Macro Hed... - 0 views

  • Over two decades ago, George Soros took on the Bank of England, and won. Just before lunch local time, the Swiss National Bank took on virtually every single macro hedge fund, the vast majority of which were short the Swiss Franc and crushed them, when it announced, first, that it would go further into NIRP, pushing its interest rate on deposit balances even more negative from -0.25% to -0.75%, a move which in itself would have been unprecedented and, second, announcing that the 1.20 EURCHF floor it had instituted in September 2011, the day gold hit its all time nominal high, was no more. What happened next was truly shock and awe as algo after algo saw their EURCHF 1.1999 stops hit, and moments thereafter the EURCHF pair crashed to less then 0.75, margining out virtually every single long EURCHF position, before finally rebounding to a level just above 1.00, which is where it was trading just before the SNB instituted the currency floor over three years ago.
  • The SNB press release:
  • The resultant move across all currency pairs has seen the EUR and USD sliding, the USDJPY crashing, and US futures tumbling even as European stocks plunged only to kneejerk higher as markets are in clear turmoil and nobody knows just what is going on right now. In other asset classes, Treasury yields, understandably plunged across the entire world, and the entire Swiss bond curve left of the 10 Year is now negative, with the On The Run itself threatening to go negative soon as can be seen on the table below: All Swiss government bill and bond yields out to 7 years are negative: pic.twitter.com/b4YCVSDFu7 — Jamie McGeever (@ReutersJamie) January 15, 2015 Crude and other commodities, except gold, are also tumbling, as are most risk assets over concerns what today's epic margin call will mean when the closing bell arrives. An immediate, and amusing, soundbite came from the CEO of Swatch Nick Hayek who said that "words fail me" at the SNB action: "Today's SNB action is a tsunami for the export industry and for tourism, and finally for the entire country." More from Reuters:
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  • Swatch Group UHR.VX Chief Executive Nick Hayek called the Swiss National Bank's decision to discontinue the minimum exchange rate on the Swiss franc a "tsunami" for the Alpine country and its economy.   "Words fail me! Jordan is not only the name of the SNB president, but also of a river… and today's SNB action is a tsunami; for the export industry and for tourism, and finally for the entire country," Hayek said in an emailed statement on Thursday.   Swiss watchmakers, which are also grappling with weak demand in Asia, are very exposed to moves in the Swiss franc exchange rate because their production costs are largely in Swiss francs, but most of their sales are done abroad.   Shares in Swatch Group fell 15 percent at 1056 GMT, while Richemont CFR.VX was down 14 percent, underperforming a 9 percent drop in the Swiss market index .SSMI following the SNB's announcement.    "Absolutely shocking ... For companies with international operations – translated earnings are going to be lower and if companies make products in Switzerland it is going to hurt margin. It is a terrible day for corporate Switzerland," Kepler Cheuvreux analyst Jon Cox said
  • Indeed, in retrospect, it does seem foolhardy that the SNB, whose balance sheet ballooned to record proportions just to defends it currency for over three years would give up so easily. The one silver lining, so to say, is that gold prices in CHF just crashed by some 13%. Some more soundbites from strategists, none of whom foresaw this stunning move:
  • However, the best soundbites today will surely come from US hedge funds which are just waking up to the biggest FX shocker in years, and of course, any retail investors who may have been long the EURCHF, and who are not only facing epic margin calls, but are unable to cover their positions, as one after another retail FX brokerage has commenced "Rubling" the Swissy and the CHF pair is suddenly not available for trading for retail accounts. To say that today will be interesting, is an understatement.
Paul Merrell

Financiers linked to George Soros donate to Kasich campaign - RT USA - 0 views

  • Fresh off a second-place primary finish in New Hampshire, Republican presidential candidate John Kasich has come under more scrutiny, particularly for donations to his PAC New Day for America made by two fund managers who made billions for George Soros. Scott Bessent and Stanley Druckenmiller contributed $588,375 to the Ohio governor’s “soft money” fund, according to Federal Election Commission records.Druckenmiller donated a total of $103,375 to Jeb Bush’s Super PAC Right to Rise and $100,000 to America Leads, a PAC supporting New Jersey Governor Chris Christie, who dropped out of the race after a poor showing in Tuesday’s primary.Bessent was Soros’s chief investment manager until December of last year, while Stanley Druckenmiller manages a $4.5 billion hedge fund in which $2 billion of Soros’ money is invested.
  • Druckenmiller was lead fund manager for Soros from 1998 to 2000, and together they “broke” the Bank of England in 1992 when Soros dumped £10 billion, leading to the currency’s devaluation and $1 billion in profit for him.Ohio Governor John Kasich came in second in the New Hampshire primary with 15.8 percent of the vote, edging out Ted Cruz with 11.7, but falling well-behind Donald Trump’s 35.3.Kasich spent 18 years in Congress before becoming a managing director for Lehman Brothers from 2001 until their collapse in 2008. He also hosted a program for the Fox News Channel.These donations have been getting a lot of attention because Soros is usually known for his support of Democratic candidates and progressive causes.
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