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JPM, Goldman chased out of metal storage biz as HK-owned LME to crack down
2013-07-16 — gata.org

"The LME has cratered the valuations of these companies," said one rival trading house executive.
The LME's proposed rule change takes aim at bottlenecks that slow the delivery of metal out of their sheds.

When warehouses are full, as they are now, long queues develop to move metal from one location to another. The delays have been profitable for warehouse owners because they continue to receive rent until metal actually leaves. They have tended to use the stream of revenue from the queues to offer incentives that attract more metal and maintain large stocks at just a few locations.

But the LME's new rule would prevent this practice, in effect forcing stocks at the most dominant warehouses to be drawn down and cutting into the rent paid. Other warehouse owners with large LME stockpiles, including traders Glencore and Trafigura, would also be affected.

The proposal, which is open to consultation until September, marks a step forward in the LME's effort to address the warehousing situation following its acquisition by Hong Kong Exchanges & Clearing in December. Before that, the LME was owned by banks and brokers, with JPMorgan and Goldman as the two largest shareholders.
(07-17-2013 10:15 AM)EVILYOSHIDA Wrote: [ -> ]China and Russia are using their power in the UN to cockblock the NWO's warmongering plans.

Although the nwo was completely instrumental in the creation of the United Nations, I'm convinced at this point that the UN is simply a vehicle. Right now, the nwo is the driver. The world could/will be very different under a different driver.
Richest 300 Persons on Earth Have More Money Than Poorest 3 Billion.

It would be one thing if these 300 were all Steve Jobs like in their ability to create wealth for society as a whole, but of course that is not the case.


"As we repeatedly focus on wealth inequality in the United States (i.e.; just four hundred persons in the US have as much in assets and income as the bottom 50% of Americans), a video points out the even more extreme global wealth disparity.

There are many reasons for this. Take for example institutional sources that contribute to this trend. The World Bank, for interest, oversees "loans" to developing nations. But by creating long-term indebtedness, these struggling counties end up owing at least $600 billion dollars in interest on loans whose principals have, in essence, already been paid off in actual dollars.

These usurious interest rates end up in the hands of the bankers and the shareholders of the financial institutions that are inter-related with the World Bank through the nations that govern it, particularly the United States which calls the shots. Criticisms of the World Bank focus on how it creates financial conditions that result in debt dependency of the nations that borrow from it, therefore negatively impacting the economic prospects of the vast majority of its residents.

Trade agreements and global corporate exploitation of international monetary regulations provide resources and cheap labor to developed nations, while leaving poorer countries depleted.

This are just some examples of how the economic cards are stacked by the G-8 and G-20 through the institutional and global corporate creation and manipulation of the financial rules. But when you move to the impact of global wealth distribution to individuals, according to Global Wealth Equality, the richest 1% on the earth have accumulated some 43% of the world's wealth, while the bottom 80% of the planet's inhabitants have just 6% between them."
^ that is just sad.

there is no way 300 people are creating more value than 3 billion people.
Mongolian Neo-Nazis Switch From Nationalism To Environmentalism By Attacking Foreign Mining Companies

[Image: mongolia-rightwing_105202-525x300.jpg]

U.S. punitive law targets Russian government

Abu Ghraib Prison Break: Hundreds Of Detainees, Including Senior Al Qaeda Members, Escape Facility

Quote:BAGHDAD — Iraqi security forces locked down areas around the infamous Abu Ghraib prison and another high-security detention facility on Baghdad's outskirts Monday to hunt for escaped inmates and militants after daring insurgent assaults set hundreds of detainees free.

The carefully orchestrated late-night attacks killed dozens Sunday, including at least 25 members of the Iraqi security forces. Insurgents fired dozens of mortar shells and detonated suicide and car bombs, drawing Iraqi forces into firefights that lasted more than an hour.

Attacks elsewhere claimed at least 18 more lives on Monday, many of them soldiers, highlighting the rapidly deteriorating security conditions across Iraq.

More : http://www.huffingtonpost.com/2013/07/22...34381.html
^ How many will end up in Syria in the near future?
Iraq will be at war forever.
(07-23-2013 09:38 PM)Megatherium Wrote: [ -> ]Iraq will be at war forever.

Unless they can get some dictator to unite the country by force in a secular way, raise the literary, education & overall living standards, that would work.
(07-23-2013 09:40 PM)superCalo Wrote: [ -> ]
(07-23-2013 09:38 PM)Megatherium Wrote: [ -> ]Iraq will be at war forever.

Unless they can get some dictator to unite the country by force in a secular way, raise the literary, education & overall living standards, that would work.

As long as said dictator plans on selling his oil in US Dollars, none of that commie gold or Euro bull shit.
Snowden did not access 'crown jewels' of NSA intel, official says
By Barbara Starr, CNN Pentagon Correspondent

"Explosion" heard by some witnesses of today's high speed train derailment outside of Madrid, others say there was no explosion

Quote:La Voz de Galicia reports dozens of people have been killed in a train derailment outside Santiago de Compostela, Spain.

According to the newspaper, the high-speed commuter train derailed at 8:42 p.m. on a route traveling from Madrid to Ferrol. Conflicting reports have come out about the number of deaths involved in the accident.

Currently, emergency crews have put the highest priority on rescuing those trapped in the affected cars, which could be up to 13 people.

"There are so many dead here, my God!" a nearby neighbor told Radio Gallega. Another described the scene, saying it began with "a big explosion," followed by a destroyed train car traveling several meters. Mari, a nearby citizen, said she heard an enormous explosion, followed by a "torpedo of dust and sound."

According to passenger accounts given to La Voz de Galicia, the train, which held 225 passengers, was traveling at high speed around a curve when one car jumped its tracks, surging beyond the slope that separates other tracks. But despite the reported smoke and fires in several cars, passengers noted there was no explosion.

Reuters reports the death toll has reached 35.

Many conflicting reports as of now, however anyone with sense should look at this very critically after the widespread accusations of false flag, shenanigans involving the police and intelligence services and framing of so called "terrorists" that came to light after the Madrid 11-m bombings.
China starts criminal probe into Bo Xilai
BEIJING, October – China moved quickly on Friday to announce it had formally begun a criminal probe into disgraced former senior politician Bo Xilai, hours after expelling him from the largely rubber stamp parliament and so removing his immunity from prosecution.
The announcements pave the way for Mr Bo, once a contender for top leadership in the world’s second-largest economy, to face trial and likely a long jail sentence on accusations of corruption and abuse of power.
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A brief report by the state-run Xinhua news agency said state prosecutors had “decided to put Bo Xilai under investigation for alleged criminal offences”.
It added that they had “imposed coercive measures on him in accordance with the law”, likely a reference that he was now officially in detention.
Mr Bo’s wife, Gu Kailai, and his former police chief, Wang Lijun, have both been jailed over a scandal that stems from the murder of British businessman Neil Heywood while Mr Bo was Communist party chief of the southwestern city of Chongqing.
The government last month accused Mr Bo of corruption and of bending the law to hush up the murder.
The latest move comes a fortnight before the Communist party holds a congress, which opens on November 8, that will unveil the country’s new central leadership.
Mr Bo, 63, was widely seen as pursuing a powerful spot in the new leadership before his career unravelled after Wang fled to a US consulate for more than 24 hours in February and alleged that Mr Bo’s wife had poisoned Heywood.
Mr Bo, a former commerce minister, used his post in Chongqing since 2007 to cast the sprawling, haze-covered municipality into a showcase for his mix of populist policies and bold spending plans that won support from leftists yearning for a charismatic leader.
Xinhua provided no other details, such as what charges Mr Bo may face, saying only that the investigation was under way.
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Earlier in the day, Xinhua said the Standing Committee of the National People’s Congress, China’s parliament, “announced the termination of Bo Xilai’s post” as the deputy to the parliament.
As a member of that body he had enjoyed immunity from prosecution.
Before Mr Bo is charged and tried, investigators must first complete an inquiry and indict him, but China’s prosecutors and courts come under party control and are unlikely to challenge the accusations.
A lawyer for Mr Bo, who has been employed by the family to represent him, said on Thursday he was unable to say whether the government would allow him to represent Mr Bo when the case comes to trial.
“It’s theatre,” said Nicholas Bequelin, a researcher at Human Rights Watch, a New York-based advocacy group, who spoke before Mr Bo’s expulsion and criminal probe were announced.
“The judiciary grinds into action only when the outcome has been determined. There is no indication we will see a genuine trial because Bo knows too much.”
An official account of Mr Wang’s trial in September said Mr Wang fled to the US consulate in Chengdu, southwest China, after Mr Bo beat him and stripped him of his police job following Mr Wang’s decision to confront Mr Bo with the murder allegations against Ms Gu.
Mr Wang had spearheaded Mr Bo’s controversial campaign against organised crime, a prominent plank in Mr Bo’s barely concealed campaign to join the topmost ranks of the Communist party.
Mr Bo was dismissed from his Chongqing post in March, and suspended from the party’s top ranks in April, when his wife was named as an official suspect in the murder in November of Heywood, a long-time friend of the couple who also helped their son Bo Guagua settle into study in Britain.
Mr Bo has disappeared from public view since he was dismissed and has not had a chance to respond publicly to the accusations against him.
The removal of Mr Bo has disrupted the Communist party’s usually secretive and carefully choreographed process of settling on a new central leadership.
Sharply dressed and courting publicity, Mr Bo stood out in a party of stolid conformists, and he promoted Chongqing as a bold egalitarian alternative to China’s current pattern of growth.
But Mr Bo’s promotion of “red” culture inspired by Mao Zedong’s era and his campaign-style crackdown on crime prompted fears that he was rekindling some of the arbitrary lawlessness of the Cultural Revolution in the 1960s – a criticism that Premier Wen Jiabao spelt out before the public in mid-March.
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