Distraction Escalation: Moscow Demands Britain Explain "Green Light To Shoot Down Russian Jets"

Moscow Demands Britain Explain "Green Light To Shoot Down Russian Jets"

After Currency Wars: The Cyber Wars Begin: Obama Says US "Must Retaliate" Against China For Historic Data Breach

The Cyber Wars Begin: Obama Says US "Must Retaliate" Against China For Historic Data Breach

US Dollar Exit And Gold: ZeroHedge - Moscow Says Massive "Holy Grail" Gas Deal With China Is 98% Ready

  

  Update May 21st, 2014.

ZeroHedge:

Russia And China Finally Sign Historic $400 Billion "Holy Grail" Gas Deal

  ZeroHedge reports on further developments around the US Dollar Exit and geopolitical Chess Game - it is all about Resources and Energy is the most important of them. Today we have the very important confirmation to our previous discussion - this is what will drive the Old Good Street On Street Fight in our former Global Village for years to come:

Currency Wars: Russia Holds "De-Dollarization Meeting": China, Iran Willing To Drop USD From Bilateral Trade

  "C.S. We are going into the next stage of The Currency Wars when our previous discussions on this blog are getting into the headlines from Kremlin.Geopolitical map of the world is being re-drawn as we speak now. Our Global Village  is getting to the good old street on street fight. The reason is simple: There Is Not Enough. You can print money and manipulate equity market in to the All-Time-High for a while, but you can't print Oil, Copper, Gold and other commodities without which any growth is impossible. We all need to eat in between of our sessions on Facebook and even Google search will not bring us food into the mouth yet. Our dear Apple is really great, but we can not eat iPads even if their prices are "deflationary". We need Gas, Fertilisers and even more Oil to grow our Food and deliver it. 

  Have you noticed that with global growth in economy being barely above the water and China's "Collapse" Oil prices are strongly north of $100 mark? Where is all that Shale Oil and Gas? What will happen when economy will start growing for real?

  China knows is too well that is why it is buying resources all over the world, including Copper and Lithium. It has the military plan of Electrification of its Transportation and for Alternative Energy. Just check the numbers on Wind and Solar Power installations in the world. Energy Storage is the next stage and Lithium is at the core of it. Now China benefits from all these games and manipulations in the Gold market and buying best Copper deposits in the world.

  Have we mentioned already that poor Ukraine has been caught between the rock and the hard place? That nobody really cares about its Independence or its Proud People? That Joe Biden son has joined the board of the major Gas producer  in Ukraine? Or that it is all really about China? Empire has the only one resource left - its Military Complex (Industrial part of it gone, but Nukes are here) and it is playing the very dangerous game to leverage it and slow down China.

  Can even the good Golfer who is spending more time on the Greens than in the War Room fight with the Bear Hunters or Shaolin Masters? This is the question two charts are talking about. US Dollar above, which is playing with dangerous 80.00 level after breaching 79.00 once already these weeks; and Gold below, which is harder and harder to break down below MA200. 
  Nobody knows the future, but the one outcome is already here: due to stupidity and arrogance the world has another Tsar  and will have one more retired Golfer ... Read More"

ZeroHedge:

Moscow Says Massive "Holy Grail" Gas Deal With China Is 98% Ready

"We have previously profiled the "holy grail" gas deal between Russia and China on several occasions, and with its announcement scheduled for next week (barring some unmitigated disaster) during Putin's first visit to China since Xi's appointment as president last March, it is time to do a status update on where it stands even ifaccording to SCMP, at this point finding the "holy grail" is merely a formality.

The Hong Kong publication reports that China and Russia hope to sign a massive deal for natural gas supply when their leaders meet in a regional summit in Shanghai next week, a senior diplomat has said. Under the deal, Russia will supply 38 billion cubic metres of natural gas annually to China for 30 years. Deputy Foreign Minister Cheng Guoping told reporters yesterday that President Xi Jinping would discuss the deal and other points of co-operation with his Russian counterpart, Vladimir Putin, who will visit Shanghai on Tuesday. Read More."

Currency Wars: Russia Holds "De-Dollarization Meeting": China, Iran Willing To Drop USD From Bilateral Trade

  

  C.S. We are going into the next stage of The Currency Wars when our previous discussions on this blog are getting into the headlines from Kremlin. Geopolitical map of the world is being re-drawn as we speak now. Our Global Village  is getting to the good old street on street fight. The reason is simple: There Is Not Enough. You can print money and manipulate equity market in to the All-Time-High for a while, but you can't print Oil, Copper, Gold and other commodities without which any growth is impossible. We all need to eat in between of our sessions on Facebook and even Google search will not bring us food into the mouth yet. Our dear Apple is really great, but we can not eat iPads even if their prices are "deflationary". We need Gas, Fertilisers and even more Oil to grow our Food and deliver it. 

  Have you noticed that with global growth in economy being barely above the water and China's "Collapse" Oil prices are strongly north of $100 mark? Where is all that Shale Oil and Gas? What will happen when economy will start growing for real?

  China knows is too well that is why it is buying resources all over the world, including Copper and Lithium. It has the military plan of Electrification of its Transportation and for Alternative Energy. Just check the numbers on Wind and Solar Power installations in the world. Energy Storage is the next stage and Lithium is at the core of it. Now China benefits from all these games and manipulations in the Gold market and buying best Copper deposits in the world.

  Have we mentioned already that poor Ukraine has been caught between the rock and the hard place? That nobody really cares about its Independence or its Proud People? That Joe Biden son has joined the board of the major Gas producer  in Ukraine? Or that it is all really about China? Empire has the only one resource left - its Military Complex (Industrial part of it gone, but Nukes are here) and it is playing the very dangerous game to leverage it and slow down China.

  Can even the good Golfer who is spending more time on the Greens than in the War Room fight with the Bear Hunters or Shaolin Masters? This is the question two charts are talking about. US Dollar above, which is playing with dangerous 80.00 level after breaching 79.00 once already these weeks; and Gold below, which is harder and harder to break down below MA200.
  Nobody knows the future, but the one outcome is already here: due to stupidity and arrogance the world has another Tsar  and will have one more retired Golfer ...

US Dollar Dives Below 79.00 - How Long Can They Keep Gold Down? GLD GDX TNR.v MUX NG ABX

  "US Dollar dives this morning and is breaking down the all-crucial 79.00 line in the sand. At the moment of writing we have 78.94. Our rhetorical question of the day is how long manipulation can keep Gold down in this environment? Now yesterday's attack on Gold can be put in the new totally dramatic perspective of today's US Dollar Melt Down."

Eric Sprott: The Chinese Gold Vortex - Do Not Miss This Golden Opportunity GDX TNR.v MUX

  "CS. Gold is building a very strong reversal pattern after resent correction. The only problem is that we are not the only one watching this chart closely and manipulators are trying to paint the breakdown on the chart above. In the normal market this picture will indicate very strong Bull market, building the base after The Golden Cross to make its Second Bull Leg Up. We have the close right above the MA200 at $1,300 and Bollinger Bands suggest that volatility will increase dramatically. Will "They" be able to break Gold down again? This is the question which will separate boys from the men again. The most important for us that this technical picture reflects the fundamentals Eric Sprott is talking about in his article." 

Ukraine, Syria And Global De-Dollarization: USD To Go Down And Gold Up TNR.v MUX RGLD GDX GLD ABX

 "What is connecting so different countries as Ukraine and Syria? The big chess game played by the U.S. and Russia. Syria needs to be "liberalised" in order to build pipelines for the natural Gas to be supplied from Qatar  to Europe. Russia and China have blocked that game and they have Ukraine revolution 2.0 now. Putin's dream is to rebuild USSR as the Eurasian Union and Ukraine is the key to his success. He will not back out of it easily. One thing is an insult in the ice hockey defeat by the U.S. in Sochi and another thing is to lose "Small Russia". On the map below you can see why Ukraine is so important geopolitically, it is all about Energy again. Key supply natural Gas routes from Russia to Europe are crossing this country." 

ZeroHedge:

Russia Holds "De-Dollarization Meeting": China, Iran Willing To Drop USD From Bilateral Trade

"That Russia has been pushing for trade arrangements that minimize the participation (and influence) of the US dollar ever since the onset of the Ukraine crisis (and before) is no secret: this has been covered extensively on these pages before (see Gazprom Prepares "Symbolic" Bond Issue In Chinese Yuan; Petrodollar Alert: Putin Prepares To Announce "Holy Grail" Gas Deal With China; Russia And China About To Sign "Holy Grail" Gas Deal; 40 Central Banks Are Betting This Will Be The Next Reserve Currency; From the Petrodollar to the Gas-o-yuan and so on).

But until now much of this was in the realm of hearsay and general wishful thinking. After all, surely it is "ridiculous" that a country can seriously contemplate to exist outside the ideological and religious confines of the Petrodollar... because if one can do it, all can do it, and next thing you know the US has hyperinflation, social collapse, civil war and all those other features prominently featured in other socialist banana republics like Venezuela which alas do not have a global reserve currency to kick around.

Or so the Keynesian economists, aka tenured priests of said Petrodollar religion, would demand that the world believe.

However, as much as it may trouble the statists to read, Russia is actively pushing on with plans to put the US dollar in the rearview mirror and replace it with a dollar-free system. Or, as it is called in Russia, a "de-dollarized" world. Read more."

China Making Discreet Gold Imports Through Beijing GLD GDX MUX TNR.v

  

  China is using its weapon of choice in the ongoing Currency Wars - Gold. The more price suppressed by the Western Central Banks - the better it is for China. Steady flow from the West to the East is the name of the game in the Gold markets these days. It is the military exercise with the state-level planning involved. According to Jim Rickards, China uses multiple covert channels to accumulate Gold during this phase of the Currency Wars.

Gold: Russian Presidential Adviser Proposed Plan For Currency War GLD GDX MUX TNR.v

  "This Cold War is only getting hotter day by day. We do hope that some wisdom will prevent the full escalation of the war, but the Financial Damage will be mutually assured. From ZeroHedge:

"According to Vedomosti as Bloomberg reported, Glazyev proposed:

• Russia should withdraw all assets, accounts in dollars, euros from NATO countries to neutral ones
• Russia should start selling NATO member sovereign bonds before Russia’s foreign-currency accounts are frozen
• Central bank should reduce dollar assets, sell sovereign bonds of countries that support sanctions
• Russia should limit commercial banks’ FX assets to prevent speculation on ruble, capital outflows
• Central bank should increase money supply so that state cos., banks may refinance foreign loans
• Russia should use national currencies in trade with customs Union members, other non-dollar, non-euro partners

In other words, a full-blown scorched earth campaign by Russia."

TNR Gold Shotgun Gold Presentation TNR.v GDX GLD MUX

 "TNR Gold has published its new Shotgun Gold presentation. After the news about Barrick Gold and Newmont Mining talks about the merger we are looking for the major bottom in the mining cycle. The best projects will find its way now to the investors' radar screens."

Gold M&A: Barrick Gold - Newmont Mining Merger Talks ABX MUX TNR.v NEM

 "As you remember, we were looking for M&A activity in Gold and Commodities to pick up in order to confirm the major Bottom built up last year. Now we have the very important confirmation about that bottom from the industry insiders. Announced deals with Las Bambas - being bought by Chinese companies and these talks about the merger between Barrick Gold and Newmont Mining signify the very important point in the cycle. It is cheaper "to dig" for Gold and Copper on the Exchange than in the ground. Depressed market valuations of the resources represented by the discounted share prices of miners provide the best entry points in the decades for the commodity markets. It is not only our talk any more  - it is the flash news from the top boardrooms in the mining business. It is the money talk by the Insiders. "Don't discount this merger talks in the future!"

TNR Gold Shotgun Gold Presentation, Alaska - April 2014 from Kirill Klip

MineWeb:

China making discreet gold imports through Beijing - sources

Author: A. Ananthalakshmi (Reuters)
Posted: Monday , 21 Apr 2014

 

SINGAPORE (REUTERS) - >

China has begun allowing gold imports through its capital Beijing, sources familiar with the matter said, in a move that would help keep purchases by the world's top bullion buyer discreet at a time when it might be boosting official reserves.
The opening of a third import point after Shenzhen and Shanghai could also threaten Hong Kong's pole position in China's gold trade, as the mainland can get more of the metal it wants directly rather than through a route that discloses how much it is buying.
China does not release any trade data on gold. The only way bullion markets can get a sense of Chinese purchases is from the monthly release of export data by Hong Kong, which last year supplied $53 billion worth of gold to the mainland.
"We have already started shipping material in directly to Beijing," said an industry source, who did not want to be named because he was not authorised to speak to the media. The quantities brought in so far are small, as imports via Beijing have only been allowed since the first quarter of this year, sources said.
The People's Bank of China (PBOC) is believed to be adding to its gold reserves, according to the World Gold Council (WGC), as it looks to diversify from U.S. Treasuries. The central bank rarely reveals the numbers.
Gold's 28 percent plunge last year and China's record bullion imports in 2013 sparked speculation that the PBOC has added significant amounts of gold to its reserves, and could likely make an announcement this year.
Central banks tend to be very secretive about their gold purchases and sales because prices are extremely sensitive to their trades. Rumours last year of Cyprus selling its gold reserves to prop up finances sent the metal down more than 10 percent over two days - its biggest such decline in 30 years.
Gold has traditionally been imported from Hong Kong into Shenzhen, where nearly 70 percent of the Chinese gold jewellery business is located. Shanghai was opened up as a second port last year.
Only banks are allowed to import gold into China. Industrial and Commercial Bank of China Ltd, Agricultural Bank of China Ltd, ANZ and HSBC are among the 12 banks that can import gold.

'TOO TRANSPARENT'

China imported nearly 1,160 tonnes of gold from Hong Kong last year, more than twice that of 2012 as the drop in prices caused a spurt in demand.
An analysis of trade figures from data provider Global Trade Information Services showed that China imported at least another 194 tonnes last year from centres other than Hong Kong, likely into Shanghai, showing that direct imports have ramped up.
One of the reasons why China could be encouraging more direct imports was because it wanted to avoid taking the Hong Kong-to-Shenzhen route that makes its gold purchases public, while China wants to keep the trade a secret, sources said.
"There is a view that why should people know how much China is buying," said one of the sources at a bullion banking operation in China. "With the Hong Kong route, there is a lot of transparency and people can easily monitor what is going in and out."
Another source said the move to open up Beijing "is partly driven by the fact that Hong Kong is perhaps a little too transparent", but it is also to accommodate upcoming free-trade zones and non-jewellery demand.
The Shanghai Gold Exchange, the platform for all physical trades in China and in whose vaults importing banks store gold across the country, was not immediately available to comment.

CAUTION ON RESERVES ANNOUNCEMENT

Besides the 1,160 tonnes of gold imported from Hong Kong last year, China had about 428 tonnes of local production. The WGC has said Chinese demand in 2013 was 1,066 tonnes, leaving industry guessing about the "surplus" of around 522 tonnes, not including the amount of direct imports.
The central bank last disclosed its gold reserves in 2009, when it announced that its bullion holdings had risen to 1,054 tonnes from 600 tonnes in 2003.
Philip Klapwijk, managing director of Hong Kong-based consultancy Precious Metals Insights, has said China's official-sector purchases could have totaled 300 tonnes in the first half of 2013, and the pace likely continued in the latter half.
"The major increase in gold supply to the Chinese market in 2012 and especially 2013 could be partly related to large-scale official purchases," according to a Klapwijk-led survey for the WGC that was released last week.
The report said while a part of the surplus was being used for commodity financing deals, some of it could be for the PBOC as well.
Rumours on PBOC's gold reserves range from 3,000 tonnes to 5,000 tonnes. The United States is the biggest holder of gold reserves with over 8,000 tonnes.
Even a 1,000 tonne increase from last announced levels could prompt a jump in gold prices, which would make the PBOC very cautious about the timing of any announcement, said two China gold market analysts, who didn't want to be named due to the sensitivity of the issue. (Editing by Muralikumar Anantharaman)"

Gold: Russian Presidential Adviser Proposed Plan For Currency War GLD GDX MUX TNR.v

  

  With all the cry about Gold price going lower, Gold is climbing The Wall of Worry and building the Second Bottom of the Double Bottom on daily chart above. This is a normal correction after very impressive run from December Low. We are not the only one watching this chart, so expect the volatility and attempts to paint the breakdown picture here. Otherwise the positive action in Gold today will build up the reversal pattern of Double Bottom on daily chart with the Three White Soldiers - very strong continuation of the Bullish Reversal Pattern. All momentum indicators are positive and confirming this formation.

  The Weekly chart below demonstrates our point in the perspective of last year's Double Bottom reversal in Gold market. Gold is ready to go higher - if it will be allowed now.

  This Cold War is only getting hotter day by day. We do hope that some wisdom will prevent the full escalation of the war, but the Financial Damage will be mutually assured. From ZeroHedge:

"According to Vedomosti as Bloomberg reported, Glazyev proposed:

• Russia should withdraw all assets, accounts in dollars, euros from NATO countries to neutral ones
• Russia should start selling NATO member sovereign bonds before Russia’s foreign-currency accounts are frozen
• Central bank should reduce dollar assets, sell sovereign bonds of countries that support sanctions
• Russia should limit commercial banks’ FX assets to prevent speculation on ruble, capital outflows
• Central bank should increase money supply so that state cos., banks may refinance foreign loans
• Russia should use national currencies in trade with customs Union members, other non-dollar, non-euro partners

In other words, a full-blown scorched earth campaign by Russia."

Gold Surges As US Dollar Exit Begins: Russia Largest Bank Halts Foreign Currency Loans MUX TNR.v GLD GDX

 "CS. It did not take long for Putin to start its retaliation against the sanctions and excuse was presented by JP Morgan's block of some payments on the grounds that Bank Rossii was involved in transaction. Bank Rossii was on the list of sanctions and even its issued international credit cards were declined after that. Mr Putin said that he will open his personal account in that bank and now it became really personal. We are not judging who is right in all this mess created by CIA vs KGB 2014 War Games, but ultimately aimed to push China from its path of Dangerously Fast Rising Into Power by all means possible including the last asset of the Falling Empire - Military Industrial Complex. We are just observing the outcome. 

  For us this action from Russian Largest Bank is the sign of US Dollar Exit flashing Red to everybody who is watching. Any Exit will not be even contemplated without China supporting it - we guess some arrangements are in place already. Putin is looking to reallocated Russian Oil and Gas, Metals and Agricultural Commodities towards Asia: China and India particularly.
  So far China was benefiting from all these Ukraine games by playing "The Smart Monkey Watching Two Tigers' Fight": by abstaining in UN's vote, but treating Michelle Obama during her "family visit" at the highest level at the same time. China is more than happy to buy Copper and Copper projects at the lower price, Chinese are buying the record amount of Gold and now will have the upper hand on pricing in the ongoing long negotiations on Oil and Gas supply to China, which are reported to be concluded in May. 

  Next moves will be very interesting to say at least. Western Equity markets are levitating without any reflection of reality of the underlining economy and all it takes now to bring these Currency Wars to the next level  is for Putin to announce that All Russian Commodities will be traded Not In US Dollars and any pricing and transactions in US Dollar will be prohibited by Russian Central Bank. Next move could be the pricing and transactions in Gold based currency which is so well explained by James Rickards. 

  Russia has already announced the creation of its own payment system not depending on the western financial institutions. White House Hawks are better take notice now as their push to isolate Russia can succeed and Russia can take into "isolation" China, India and other BRICS Club countries with a good half of the world population. Wall Street can survive for a while rigging what is left from the financial markets, but once all Cloud and Mobile Games IPO will be sold to Muppets people will be asking for Food on the streets. As for the "Isolated" - just check your iPhone. Was it Made in China - we guess? The Isolated Club will have all commodities and technology available to prosper. Who will be left behind in the end?"

In Gold We Trust: Forming Of Eurasian Economic Union And Joint Currency Accelerates

ZeroHedge:

Furious Russia, Downgraded To Just Above Junk By S&P, Proposes "Scorched Earth" Retaliation Against NATO Countries

Cyprus and Russia - what's the difference (aside from the fact that the former was a money laundering offshore center of the latter until last year of course)?

If you said one is a lackey to statist, selfish banker interests, and after having its economy thoroughly destroyed by the great doomed European sociopolitical (and pathological) experiment, came crawling back to its Eurozone masters, while the other couldn't care one bit about Pax Petrodollariana and the global central bank cabal, you are right. In which case it will also be clear why a few hours ago that joke of a rating agency, Standard & Poor's, which also earlier announced it was "affirming" France at an AA rating making it very clear it will no longer accept being sued for telling the truth and downgrading sovereigns or otherwise have its offices abroad raided, not only upgraded Cyprus from B- to B (please deposits your funds in Cyprus banks now: they are safe, S&P promises), but - far more importantly - delivered a political message to the Kremlin, and downgraded Russia from BBB to BBB-, one short notch away from junk status. This was the first downgrade of Russia by S&P since December 2008.

WSJ reports:

"In our view, the tense geopolitical situation between Russia and Ukraine could see additional significant outflows of both foreign and domestic capital from the Russian economy and hence further undermine already weakening growth prospects," S&P wrote in its report.

Moscow's MICEX stock index fell by 1.5% after the move. The ruble weakened 0.6% against the dollar to 35.977.

A further cut to junk status would be a big move, given Russia's relatively modest level of debt, according to Tim Ash, an economist at Standard Bank.

"But if the crisis in Ukraine deteriorates further, and we see sustained capital flight and pressure on the ruble and Russian markets further, then it is possible," he said.

Russia's response was prompt.

First, in retaliation to the downgrade, Russian economy minister Alexei Ulyukaev said S&P’s downgrade of Russia’s rating was expected by investors, won’t significantly change their behavior, adding the obvious that the decision to cut Russia’s rating was partly political, partly based on economic situation. In other words, entirely symbolic - it is not as if Russia has access to bond markets anyway, plus as we wrote earlier this week in "Why Putin Is Smiling At The Bond Market's Blockade Of Russia", it is not as if it needs them.

But far more importantly, and ahead of yet another round of western sanctions which appears imminent unless Obama is to look even more powerless than he currently is (granted, a difficult achievement), Russian presidential adviser Sergei Glazyev proposed plan of 15 measures to protect country’s economy if sanctions applied, Vedomosti newspaper reports, citing Glazyev’s letter to Finance Ministry. According to Vedomosti as Bloomberg reported, Glazyev proposed:

• Russia should withdraw all assets, accounts in dollars, euros from NATO countries to neutral ones
• Russia should start selling NATO member sovereign bonds before Russia’s foreign-currency accounts are frozen
• Central bank should reduce dollar assets, sell sovereign bonds of countries that support sanctions
• Russia should limit commercial banks’ FX assets to prevent speculation on ruble, capital outflows
• Central bank should increase money supply so that state cos., banks may refinance foreign loans
• Russia should use national currencies in trade with customs Union members, other non-dollar, non-euro partners

In other words, a full-blown scorched earth campaign by Russia.

Granted, Russian holdings of US Treasurys are not that substantial (and could be monetized entirely in three months of POMO by the Fed), and western financial linkages to Russia, aside from trade routes, are not life-threatening, but if Russia were to take the baton, and other BRIC countries, already furious by the recent US decision to not boost their IMF status, follow suit, then Obama's life is about to become a living nightmare. Especially, if that most important BRIC member - China - does any of the many things it can do to indicate if, in this brand new Cold War, it is with or against the US...

Finally, those curious what are the linkages between the west and Russia are, review our recent post on the matter: All You Need To Know About Russia, In Charts."

Greg Hunter: Dr Jim Willie - Dollar Mortally Wounded, Treasury Bond Toxic Paper And Gold

  Filter this interview with your own understanding of what is too far stretched and what has already happen. Jim Willie provides his Big Picture View, which definitely stimulates imagination. A lot of former conspiracy theories have happen to be true: Private FED, Rigged LIBOR, Manipulated FOREX, HFT, Manipulations in Gold and Silver. Some others will be coming into the spotlight from the heat of the Financial Wars played around Ukraine now.

WEB Bubble 2.0 Bursting, NASDAQ Meltdown And Gold TNR.v ILC.v MUX GDX GLD QQQ DIA SPY

  "WEB Bubble 2.0 is bursting and SOCL - Social Media ETF on the chart above is the very good representation of what is happening with the hot plays of 2013. SOCL ETF is just a notch away from the official bear market with 19.4% decline from its top so far. As we have noted before, the hot IPO market is another sign of the important top in the equity markets, when insiders are selling out at the valuations totally disconnected from the real underlining economic situation." 

Russia should switch to ruble payments with all trading partners - head of VTB Bank

Gold Surges As US Dollar Exit Begins: Russia Largest Bank Halts Foreign Currency Loans MUX TNR.v GLD GDX

 "CS. It did not take long for Putin to start its retaliation against the sanctions and excuse was presented by JP Morgan's block of some payments on the grounds that Bank Rossii was involved in transaction. Bank Rossii was on the list of sanctions and even its issued international credit cards were declined after that. Mr Putin said that he will open his personal account in that bank and now it became really personal. We are not judging who is right in all this mess created by CIA vs KGB 2014 War Games, but ultimately aimed to push China from its path of Dangerously Fast Rising Into Power by all means possible including the last asset of the Falling Empire - Military Industrial Complex. We are just observing the outcome. 

  For us this action from Russian Largest Bank is the sign of US Dollar Exit flashing Red to everybody who is watching. Any Exit will not be even contemplated without China supporting it - we guess some arrangements are in place already. Putin is looking to reallocated Russian Oil and Gas, Metals and Agricultural Commodities towards Asia: China and India particularly.
  So far China was benefiting from all these Ukraine games by playing "The Smart Monkey Watching Two Tigers' Fight": by abstaining in UN's vote, but treating Michelle Obama during her "family visit" at the highest level at the same time. China is more than happy to buy Copper and Copper projects at the lower price, Chinese are buying the record amount of Gold and now will have the upper hand on pricing in the ongoing long negotiations on Oil and Gas supply to China, which are reported to be concluded in May. 

  Next moves will be very interesting to say at least. Western Equity markets are levitating without any reflection of reality of the underlining economy and all it takes now to bring these Currency Wars to the next level  is for Putin to announce that All Russian Commodities will be traded Not In US Dollars and any pricing and transactions in US Dollar will be prohibited by Russian Central Bank. Next move could be the pricing and transactions in Gold based currency which is so well explained by James Rickards. 

  Russia has already announced the creation of its own payment system not depending on the western financial institutions. White House Hawks are better take notice now as their push to isolate Russia can succeed and Russia can take into "isolation" China, India and other BRICS Club countries with a good half of the world population. Wall Street can survive for a while rigging what is left from the financial markets, but once all Cloud and Mobile Games IPO will be sold to Muppets people will be asking for Food on the streets. As for the "Isolated" - just check your iPhone. Was it Made in China - we guess? The Isolated Club will have all commodities and technology available to prosper. Who will be left behind in the end?"

How China Fooled The World ... And Will Do It Again.

"This documentary brings the very important perspective to the China's economic miracle. We do agree that Collapse of China will be nothing less spectacular than its Rise, but will it ever happen? Nobody questions that the growth above 10% is unsustainable, but will anything "less amazing" like 7.0% -7.5% will Crash China? Western media would like us all to believe so. We are not convinced. Timing is very suspicious. West is desperate for another War, for anything to fight for ... with its last Empire attribute left - The Military Industrial Complex. Whether it is Syria, Ukraine or even China does not really matter. Whatever it takes to keep the party going."

Gold Surges As US Dollar Exit Begins: Russia Largest Bank Halts Foreign Currency Loans MUX TNR.v GLD GDX

  

  CS. It did not take long for Putin to start its retaliation against the sanctions and excuse was presented by JP Morgan's block of some payments on the grounds that Bank Rossii was involved in transaction. Bank Rossii was on the list of sanctions and even its issued international credit cards were declined after that. Mr Putin said that he will open his personal account in that bank and now it became really personal. We are not judging who is right in all this mess created by CIA vs KGB 2014 War Games, but ultimately aimed to push China from its path of Dangerously Fast Rising Into Power by all means possible including the last asset of the Falling Empire - Military Industrial Complex. We are just observing the outcome. 

  For us this action from Russian Largest Bank is the sign of US Dollar Exit flashing Red to everybody who is watching. Any Exit will not be even contemplated without China supporting it - we guess some arrangements are in place already. Putin is looking to reallocated Russian Oil and Gas, Metals and Agricultural Commodities towards Asia: China and India particularly.
  So far China was benefiting from all these Ukraine games by playing "The Smart Monkey Watching Two Tigers' Fight": by abstaining in UN's vote, but treating Michelle Obama during her "family visit" at the highest level at the same time. China is more than happy to buy Copper and Copper projects at the lower price, Chinese are buying the record amount of Gold and now will have the upper hand on pricing in the ongoing long negotiations on Oil and Gas supply to China, which are reported to be concluded in May. 

  Next moves will be very interesting to say at least. Western Equity markets are levitating without any reflection of reality of the underlining economy and all it takes now to bring these Currency Wars to the next level  is for Putin to announce that All Russian Commodities will be traded Not In US Dollars and any pricing and transactions in US Dollar will be prohibited by Russian Central Bank. Next move could be the pricing and transactions in Gold based currency which is so well explained by James Rickards. 

  Russia has already announced the creation of its own payment system not depending on the western financial institutions. White House Hawks are better take notice now as their push to isolate Russia can succeed and Russia can take into "isolation" China, India and other BRICS Club countries with a good half of the world population. Wall Street can survive for a while rigging what is left from the financial markets, but once all Cloud and Mobile Games IPO will be sold to Muppets people will be asking for Food on the streets. As for the "Isolated" - just check your iPhone. Was it Made in China - we guess? The Isolated Club will have all commodities and technology available to prosper. Who will be left behind in the end?

How China Fooled The World ... And Will Do It Again.

"This documentary brings the very important perspective to the China's economic miracle. We do agree that Collapse of China will be nothing less spectacular than its Rise, but will it ever happen? Nobody questions that the growth above 10% is unsustainable, but will anything "less amazing" like 7.0% -7.5% will Crash China? Western media would like us all to believe so. We are not convinced. Timing is very suspicious. West is desperate for another War, for anything to fight for ... with its last Empire attribute left - The Military Industrial Complex. Whether it is Syria, Ukraine or even China does not really matter. Whatever it takes to keep the party going."

ZeroHedge:

Russian Retaliation #1: Russia Largest Bank Halts Foreign Currency Loans

It didn't take long for Russia to launch the first retaliatory salvo against the unexpected JPMorgan "act of aggression." Moments ago Bloomberg just reported that Sberbank,  the largest bank in Russia and all of Eastern Europe, just halted the issuance of consumer loans in foreign currency. Bloomberg adds that "Sberbank, Russia’s biggest lender, holds 43.3% of nation’s consumer deposits, 32.7% of consumer loans and 32.1% of corporate loans."

Jim Sinclair: Russia Can Collapse US Economy, Gold Update, Silver is Gold on Steroids MUX TNR.v GDX GLD

  Jim Sinclair still stands by his $50,000 price for Gold. His explanation about the Gold market manipulation deserves very careful attention. According to Jim Sinclair nine entities including one in Russia and one in Singapore - where Jim involved himself - are building now Exchanges with Gold physical delivery settlement. You simply can not manipulate the Gold market in that case like it happen last year when huge amount of "Gold" was dumped in the paper market. 

  The situation around Ukraine and Russia is very dangerous and this new cold war can become hot very fast. In any case this ongoing confrontation between USA and Russia will have the very far reaching economic complications for both sides. The Petrodollar is the base for US Dollar now, after Nixon has taken it from Gold standard. US Dollar slide below 80.00 is very important, it shifts the entire US Dollar based system. "We are going to war for Petrodollar." Putin does not need any nuclear weapons, he has economic weapons of mass distraction. All he needs to do is to stop accept US Dollar.
   We have absolutely seen the double bottom in Gold in 2013. Gold is heading towards $2,000 and at least $1,918 level this year.
  

  

Eric Sprott - Gold To See Powerful Bullish "Golden Cross" Within Days TNR.v MUX GDX GDXJ GLD ABX NG

  "C.S. Eric Sprott is talking about the "Golden Cross" - the very powerful bullish signal coming for Gold within the next few days. On the chart above you can see the very strong first move of the new Bull market in Gold from the December 2013 low. We are just 2% from 20% increase when media will start talking about the new Gold Bull market being "confirmed officially." As you can see MA 50 is turning decisively Up and is ready to cross MA200 to the upside.

  The very important driving forces behind this Gold rally is the record buying from China and the ongoing Gold Manipulation investigations. Eric thinks that all major bullion banks are at risk now and their compliance departments are very busy trying to manage the damage of potential litigation and fines. "The most important here that this process removes the manipulators out of the market. The ceiling is taking off from the Gold price now, they can not continue to manipulate Gold market as they did any more"

  You can listen to Eric on the link below and we will run a few charts showing what "Golden Cross" means for particular stocks."

Paul Craig Roberts: US is Completely Busted, Non-Delivery of Gold - Crash the System, War in Ukraine TNR.v MUX GDX GLD

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  Gold is above $1,370 today and US Dollar is testing another low of 79.30. Paul Craig Roberts  is pouring very cold water on the hot heads from the "DC Command Centre". All these War games can be ended in the very real tears, world is too much interconnected today in order just to punish "the bad guy". Somebody wants the War too bad with any excuse and it is not the good idea at all. Ongoing Financial War already distorting the markets and U.S. recovery is too weak to handle and further external shocks. The very least what BRICS can do now is they will speed up their De-Dollarisation plans.

Junior Miners: Gold Breaks $1,360 As US Dollar Slides Further Down TNR.v MUX GDX GLD ABX NG RGLD

"Gold breaks $1,360 today with US Dollar sliding down to 79.63. China's worries and Ukraine situation are putting futures under pressure. Could it be that the Copper slump is the counter strike at Chinese shadow financial system in the ongoing Financial War? We will never get the clear answers here, but US Dollar is sliding further today and Copper at this levels can not indicate the healthy growing economy. 

  Gold is climbing the "Wall Of Worry" in its new Bull market and we have a lot of calls that this rally will be short lived. Shorts will be surprise and will have to cover again providing more fuel to this move. Now the second wave of advance in Gold Junior miners should confirm this rally. Major companies are solidly off the lows from December, but smaller companies were still lacking the bids behind. With rising Gold price the best projects held by juniors will come on the investor's radar screens."