noworldsystem.com


Half of gold in central banks gone?

Half of gold in central banks gone?
Watchdog: ‘We want to expose and stop the manipulation’

Jerome R. Corsi
World Net Daily
January 29, 2008

Fbiiraqisbein_mn

U.S. central banks may have less than half the gold they claim to possess in their vaults, charges a watchdog group in an ad scheduled for publication in the Wall Street Journal this week.

As WND reported, the Gold Anti-Trust Action Committee, or GATA, claims the Federal Reserve and the U.S. Treasury are surreptitiously manipulating the country’s gold reserves by participating in undisclosed leases, according to an advance copy WND obtained of the ad running in Thursday’s edition of the Journal.

GATA believes much of the borrowed gold out on lease will never be returned to the central banks.

“With the demand for gold so strong worldwide, it has become impossible to return much of the leased gold without driving the price to the moon,” said GATA’s chairman, William J. Murphy III.

“Most observers calculate central bank reserves are supposed to have about 30,000 tons of gold worldwide in their vaults, but we believe the amount of gold actually there may be more like 15,000 tons,” Murphy said. “The rest of the gold is gone.”

The U.S. Treasury denies the claim, insisting the stock is accounted for regularly.

“We want to expose and stop the manipulation of the gold market by the United States Treasury and Federal Reserve right now,” Murphy said.

“The purpose of this ad is to wake people up in the investment world as to what is going on behind the scenes in the U.S. gold and financial markets,” Murphy told WND.

He explained GATA has decided to pay the Wall Street Journal $264,000 for a one-time placement of the full page ad in the national edition because the financial press has not covered the story.

“We have had two major international conferences since 2001; the mainstream financial press has blackballed our message,” Murphy explained.

“Anybody Seen Our Gold?” the ad is titled, charging U.S. gold reserves held at depositories such as Fort Knox or West Point may have been seriously depleted as they are shipped overseas to settle complex transactions utilized by the Federal Reserve and the U.S. Treasury to suppress prices.

GATA further charges the U.S. government strategy to manipulate the price of gold has begun to fail.

“The objective of this manipulation is to conceal the mismanagement of the U.S. dollar so that it might retain its function as the world’s reserve currency,” the ad copy reads.

“Gold’s recent rise toward $900 per ounce shows that the price suppression scheme is faltering,” GATA says. “When it is widely understood how central banks have been suppressing gold, its price may rise to $3,000 or $5,000 an ounce or more.”

As evidence of gold price manipulation by the U.S. Treasury and the Federal Reserve, GATA cites Treasury’s weekly report of the government’s international reserve position that since May has listed gold loans and swaps as a line item in accounting for U.S. gold reserves.

The ad also cites a July 24, 1998, statement by then-Federal Reserve Chairman Alan Greenspan, who told Congress “central banks stand ready to lease gold in increasing quantities should the price rise.”

Read Full Article Here

 



New Gold Record at $923, Oil $91

New record for gold price at $923

BBC
January 25, 2008

Fbiiraqisbein_mn

The price of gold has set another record high, reaching $923 an ounce, after power cuts in South Africa closed mines and fuelled supply fears.

The metal was also boosted by the rise in oil prices. New York crude jumped $1.19 a barrel, extending heavy gains on Thursday to trade close to $91.

Gold is seen as an attractive investment in times of economic uncertainty and oil-led inflation.

Gold prices increased by more than 30% in 2007 and further gains are forecast.

Gold rush

Since the start of the year, the gold price has set a series of records, as many companies have predicted weaker earnings and global lending markets remain troubled.

Worries that the dollar will remain weak as a result of further US interest rate cuts are another factor behind the gold rush.

JP Morgan analysts forecast in a note to clients that gold could reach between $950 and $975 this year.

“Precious metals is a very strong picture,” said Graham Birch, head of BlackRock’s Natural Resources fund.

The rally was exacerbated by the suspension of production at some of the world’s biggest gold mines in South Africa, after the country’s state power supplier, Eskom, said it could not guarantee supplies.

Eskom said the power crisis would last for four weeks, but many observers expect the problems to persist for many years.

Feds Accused Of Gold-Price Manipulation
http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=59876

 



Fed Cuts Interest Rates 75 Basis Points

Fed Cuts Interest Rates 75 Basis Points

AP
January 22, 2008

Fbiiraqisbein_mn

The Federal Reserve, confronted with a global stock sell-off fanned by increased fears of a recession, slashed a key interest rate by three-quarters of a percentage point on Tuesday and indicated further rate cuts were likely.

The surprise reduction in the federal funds rate from 4.25 down to 3.5 percent marked the biggest funds rate cut on records going back to 1990.

Federal Reserve Chairman Ben Bernanke and his colleagues took the action after an emergency video conference on Monday night, a day when global markets had been pounded by rising concerns that weakness in the world’s largest economy was spreading worldwide.

Despite the Fed’s bold move, Wall Street plunged at the opening. The Dow Jones industrial average was down 311.99 points in the first hour of trading.

In a brief statement explaining its move, the Fed said that “appreciable downside risks to growth remain” and officials pledged to “act in a timely manner” to deal with the risks facing the economy. The action was approved on an 8-1 vote.

Analysts said the fact that the Fed did not wait until its meeting next week to cut rates underscored the seriousness of the situation.

“The world’s stock markets are in meltdown so the Fed came in with an inter-meeting move to try to stop the panic,” Christopher Rupkey, senior economist at Bank of Tokyo-Mitsubishi.

The Bush administration, which had announced on Friday that President Bush supported a $150 billion economic stimulus package, said Tuesday that it was not ruling out doing more than the $150 billion proposal if necessary.

Many analysts said if the carnage continues in stock markets, the Fed will move to cut rates again at its Jan. 29-30 meeting.

“This move is not an instant fix,” said Ian Shepherdson, chief U.S. economist at High Frequency Economics. “The economy is still staring recession in the face, but at least the Fed now gets it.”

Read Full Article Here

 

‘Fed may keep cutting interest rates’

Western Mail
January 23, 2008

There could be more interest rate cuts to come as the US Federal Reserve tries to head off recession.

Howard Archer of Global Insight said the prospect of a US recession suggests the Fed may keep cutting rates.

Yesterday’s surprise decision to cut US rates by 0.75% helped rally London’s FTSE-100 index, after £76bn had been wiped off its value on Monday. The index of leading shares closed 161.9 up at 5740.1, a gain of 2.9% after Monday’s 5.5% fall.

The Fed’s cut to 3.50% was its first emergency move since 2001 and the largest single reduction since 1984.

Mr Archer of Global Insight said “The Fed did not directly reference Monday’s global stock-market meltdown in its announcement, merely noting that ‘broader financial market conditions have continued to deteriorate’. It focused upon the weakening outlook for growth.”

Read Full Article Here

 


US rates ‘heading for 2.5% by the spring’

The Scotsman
January 23, 2008

American interest rates are set to tumble as low as 2.5 per cent by early spring as US policymakers battle to restore stability to a faltering economy.

Economists said they expected the Federal Reserve to have shaved another full point off borrowing costs by its scheduled April meeting.

The prediction came after yesterday’s surprise three-quarter-point cut to 3.5 per cent – a move that appeared to have only limited success in restoring investor confidence.

Bonds jumped sharply, with two-year notes falling to their lowest in nearly four years, as investors prepared for still more rate- cutting.

In London, the benchmark FTSE 100 index of Britain’s biggest companies closed 161.9 points or nearly 3 per cent higher at 5,740.1 following a rollercoaster session and the previous day’s 323-point battering.

Nigel Gault, chief US economist at forecasting body Global Insight, said the prospect of “at least a mild US recession” suggested the Fed was “far from done cutting rates”.

He added: “We now expect the Fed to cut another cumulative 100 basis points off interest rates. The next instalment will probably come at the formal meeting on 30 January – another 25 or 50 basis points. We would expect to hit 2.5 per cent by the April meeting.”

Yesterday’s decision to slash interest rates came a week before the US central bank’s regularly scheduled meeting, a sign that it acknowledges that the global financial situation is serious.

David Jones, chief economist at DMJ Advisors, said the Fed could move again between meetings, should conditions deteriorate further, and predicted the Fed would lower interest rates to 3 per cent by the end of March.

Earlier this month, leading investment bank Merrill Lynch said the US economy was already in recession.

Some analysts pointed to a panic move by the Fed, which is headed by chairman Ben Bernanke. Michael Metz, chief investment strategist at Oppenheimer in New York, said: “Unfortunately the Fed] have no power to reverse what in my opinion is the worst post-war recession.”

Read Full Article Here

Recent News:

Dollar finds support from rising stocks, but confidence remains shaky
http://www.forbes.com/markets/feeds/afx/2008/01/23/afx4561857.html

Gold steady $890 amid rebounding equity mkts but sentiment remains fragile
http://www.forbes.com/afxnewslimited/feeds/afx/2008/01/23/afx4561918.html

Let Market Crash Now Or Face Financial Train Wreck
http://www.prisonplanet.com/articles/january2008/012308_crash_now.htm

Market’s Wild Ride Ends With Dow at 15-Month Low
http://www.nytimes.com/2008/01/22/business/23cnd-stox.html?hp

Fed Rate Cut Seen As Once In A Generation
http://www.iht.com/bin/printfriendly.php?id=9418610

Federal Reserve slashes US rates on day when ‘chaos reigned supreme’
http://www.guardian.co.uk/business/2008/jan/22/useconomy.marketturmoil1

World’s Largest Bond Insurers Collapsing!
http://www.moneyandmarkets.com/Issues.aspx?NewsletterEntryId=1381

Tuesday Could Bring 1,000 Point Drop in Dow
http://www.247wallst.com/2008/01/a-1000-point-dr.html

All signs point to U.S. consumers hunkering down in recession bunkers
http://www.theglobeandmail.com/serv.ZA18/TPStory/Business

Foreigners Buy Stake In USA At Record Pace
http://www.nytimes.com/2008/01..partner=MYWAY&pagewanted=print

Bank of America net sinks 95 percent
http://www.reuters.com/articl..r=1&virtualBrandChannel=0&sp=true

Oil falls below $89 as stock markets plunge
http://biz.yahoo.com/rb/080121/markets_oil.html?.v=1

Horror day for Australian stock market
http://www.news.com.au/story/0,23599,23089611-2,00.html

Russian shares tumble as panic grips world markets
http://www.russiatoday.ru/business/news/19933

Current financial crisis was topic of Bilderberg 2006
http://rinf.com/alt-news/new-world-..s-topic-of-bilderberg-2006/2277/

The Coming Global Depression
Bear Stearns: The Fed Will Cut Rates AGAIN Next Week
World stock markets fall
Hopes of global rate cut sparks FTSE revival after early morning slump
Black Monday: recession fears spark global share crash
Biggest fall in shares since September 11
When governments print money, buy gold
Gold rallies back to the 890 usd mark after emergency Fed rate cut
Stocks Plunge Despite Fed Rate Cut
Surprise rate cut sparks dollar sell-off
Global markets dropped 5% overnight
Market drops on recession fear
Wall Street set to open lower
Wall St execs collect $US33b bonuses
Asian Markets Continue Slide
Futures plunge on U.S. recession fears
US recession fears wipe £77bn from London shares
Recession fears weigh on markets
Emergency: Global Financial Markets Collapsing
HK shares dive, China plays in worst day in 10 yrs
Will the Economic Crash Wake People Up?
U.S. slide an expanding threat
Britain Unveils Northern Rock Buy Out Plan
CFR: The ‘Historical Anomaly’ of the Dollar
Banks to suffer into ’09 as credit crunch drags: S&P
Tax Rebates Urged To Rescue Economy
U.S. economy teeters on the brink
7-Year Plan Aligns Europe With U.S. Economy

U.S. Economic Collapse News Archive

 



Giuliani’s Advisor Calls For Palestinian Collapse

Giuliani’s Advisor Calls For Palestinian Collapse

Ethan Allen
Rogue Government
January 4, 2008


Daniel Pipes, a neocon analyst and Giuliani campaign advisor, recently wrote a piece for JewishWorldReview stating that a Palestinian economic collapse would be good for Israel and the west. Throughout the Bush administration, warhawks like Pipes have been leading foreign policy and encouraging deeper commitments of the west in supporting Israel’s open warfare campaigns against the Palestinian people. In his recent article, Pipes states:

“Exhilaration, not hardship, accounts for bellicose Palestinian behavior. Accordingly, whatever reduces Palestinian confidence is a good thing. A failed economy depresses the Palestinians’ mood, not to speak of their military and other capabilities, and so brings resolution closer.

Palestinians must experience the bitter crucible of defeat before they will drop their foul goal of eliminating their Israeli neighbor and begin to build their own economy, polity, society, and culture. No short-cut to this happy outcome exists. Who truly cares for Palestinians must want their despair to come quickly, so that a skilled and dignified people can move beyond its current barbarism and built something decent.

The huge and wasted outpouring of Western financial aid, ironically, brings on that despair in two ways: by encouraging terrorism and by distorting the economy, both of which imply economic decline. Rarely has the law of unintended consequences worked so imaginatively.”

http://www.jewishworldreview.com/1207/pipes122607.php3

Read Full Article Here

Giuliani Will Back a ‘Surge’ in Afghanistan
http://www.nysun.com/article/68755

Giuliani Campaign Co-Chair: ‘[All] Muslims Need To Be Chased Back To Their Caves’
http://mparent7777-2.blogspot.co..gn-co-chair-all-muslims.html

 



Economic Expert Says Global Crash Imminent

Economic Expert Says Global Crash Imminent
Echoes former world bank leader with prediction of global recession

Steve Watson
Infowars.net
November 20, 2007

A leading economic expert has warned that a global crash and recession is imminent on the back of record highs in real estate, stocks and energy, combined with a devaluation of the dollar and continued “speculative bubble thinking”.

Robert Shiller, the Stanley B. Resor Professor of Economics at Yale University told an audience at the annual Dubai International Financial Centre (DIFC) Week that a sharp downward correction is due in the global markets.

Shiller stated:

“Perhaps we have gotten a little too confident in the global economic growth,” said Shiller. “The problem is high oil, stock and real estate prices. I believe that a substantial part is speculative bubble thinking. We have gotten too confident of the prices in these markets,”.

“The unwinding of these markets is the most serious risk facing these markets today,” Shiller added.

With the effects of the credit crunch hitting more and more lower level lenders, it is clear to see that the fallout is spreading and propagating a general decline. We are seeing the unfolding of an overall meltdown that represents a gutting of the United States by neo-mercantilist institutions bent on the formation of a new global monopoly.

Shiller also pointed to the futures market, such as that of the CME in Chicago, which now predicts a major, ongoing decline over the coming four years.

We are witnessing the unfolding of a crash exactly as predicted by Former World Bank Vice President, Chief Economist and Nobel Prize winner Joseph Stiglitz last year.

Stiglitz agreed that the process of hijacking and looting key infrastructure on the part of the IMF and World Bank, as an offshoot of predatory globalization, has now moved from the third world to Europe, the United States and Canada.

Stiglitz warned that the signs were there with plummeting real estate prices in the U.S., stating that a global economic depression could only be avoided if a correction was made.

But no correction will be made because the World Bank/IMF/Globalist doctrine betrays a focused agenda to deliberately foment economic turmoil, riots, and then enforced bondage to eternal debt. We have witnessed this time and time again, their own documents even confirm this as the chosen method of social control.

The shareholders of Federal Reserve, part of the same group of elite families that owns the bank of England, created the IMF and World bank to siphon government funds. Then they effectively steal the real assets of the third world countries that take their loans in some cases at 42% interest. These global loan sharks secure the water, power and roads which are then handed over to private, piratical, letter of mark companies.


China Voices Alarm at Dollar Weakness

Financial Times
November 19, 2007

China on Monday expressed concern at the decline in the dollar, joining a growing chorus of global policymakers alarmed by the weakness in the world’s main reserve currency.

Premier Wen Jiabao told a business audience in Singapore it was becoming difficult to manage China’s $1,430bn foreign exchange reserves, saying that their value was under unprecedented pressure.

“We have never been experiencing such big pressure,” Mr Wen said, according to Reuters. “We are worried about how to preserve the value of our reserves.”

China keeps the currency composition of its reserves a state secret, but some analysts believe that more than two-thirds are probably still held in dollars.

Mr Wen’s comments came as top international economic officials spoke out in support of a strong dollar in the aftermath of the weekend’s Group of 20 summit in South Africa and Opec meeting in Riyadh.

Hank Paulson, US Treasury secretary, told reporters in Ghana: “A strong dollar is in our nation’s interest.”

He said the US economy had its “ups and downs” but he believed that “our long-term economic strength will be reflected in currency ­markets”.

Mr Paulson and other top US officials, including President George W. Bush, have become increasingly vocal on the dollar in recent days in an apparent effort to signal that they are not indifferent to its fate.

Zhou Xiaochuan, China’s central bank chief, said Beijing wanted a strong dollar because it would help to ensure an orderly resolution of the recent market instability caused by US mortgage lending problems.

“So in this sense, actually we hope to see a strong dollar,” Reuters quoted Mr Zhou as saying. “We support a strong dollar.”

Jean-Claude Trichet, president of the European central bank, told reporters that Mr Zhou’s remarks “echoed what has been said by the monetary authorities of the US”.

“What we are witnessing is unco-ordinated verbal intervention,” said Stephen Jen, head of currency research at Morgan Stanley. “This is useful as in the absence of it, investors and speculators would have interpreted it as the authorities condoning what was going on in the currency markets.”

The Japanese yen rallied against a range of currencies on Monday, notably commodity-based rivals such as the Canadian and Australian dollars. The prospect of China allowing its currency to appreciate against the dollar drove sentiment, traders said.

The dollar was largely unchanged in early US trading. The US currency has shown some tentative signs of stabilisation in the past few days, but many analysts remain bearish.

Related News:

Global crash imminent, warns expert
http://www.arabianbusiness.com/50…inent-warns-expert

As dollar weakens, Gulf nations look at currency pegs
http://www.iht.com/articles/2007/11/19/bloomberg/bxatm.php

Food pantries struggle to meet increasing demand
http://news.yahoo.com/s/ap/200711…ood_pantries_shortage

Loonie shouldering heavier share of greenback’s decline: IMF
http://www.canada.com/nation….5a&k=90145

Asian Leaders Sign Regional Economic Pact
http://www.nytimes.com/2007/11/21/w…html?hp

Saudi Riyal Touches 21-Year High
http://www.arabnews.com/?page=6&s….=Business

Central bank governor says China supports strong dollar
http://www.iht.com/articles/2007/11/19/business/yuan.php

$38B In Wall Street Bonuses As Stocks Decline
http://www.bloomberg.com/apps/new….worldwide

Goldman Sachs Behind Sky-High Oil Prices?
http://mparent7777-2.blogspot.com….h-oil.html

The Crash of 2008
http://www.humanevents.com/article.php?id=23465

Taxpayers to foot the Northern Rock bill
http://timesonline.co.uk/tol/news/….e2903877.ece

Global Gold Stocks May Beat Bullion, Baker Steel Says
http://www.bloomberg.com/apps/news….2k&refer=europe

Weak Dollar Wrecks American’s Dreams
http://www.reuters.com/article/lif…142820071119

OPEC Interested in Non-Dollar Currency
http://ap.google.com/articl….D8T0AC6G0

Saudi minister warns of dollar collapse
http://www.telegraph.co.uk…17/cndollar117.xml

Chávez sees oil at $200 if Iran invaded
http://www.ft.com/cms/s/0/3e346fdc-923f-11dc-8981-0000779fd2ac.html

Dow Down 200 Amid Banking Concerns
US September net foreign capital flows -14.7 bln usd
The Discipline Of the Dollar
Dollar Decline “Irreversible”
Goldman Sees Subprime Cutting $2 Trillion in Lending
Opec unites behind higher prices
Oil rises over $95 on weak dollar
Oil rises ‘Kill the cable, kill the cable,’ Oil leaders’ private debate televised by mistake
Opec nations clash over weak dollar
OPEC agrees to dollar talks after forex basket proposal
‘Greener, reliable’ OPEC wraps up politically-charged summit
Chavez starts OPEC summit with 200-dollar oil warning

U.S. Economic Collapse News Archive

 



Goldseek: Lindsay Williams on Economy Collapse and Amero

Goldseek: Lindsay Williams on Economy Collapse and Amero

http://www.youtube.com/watch?v=ODdVstvqfAo

http://www.youtube.com/watch?v=Y2jNWDWA4p8

http://www.youtube.com/watch?v=_NhH0RCRZ-g

What is the ‘North American Union’?

 



IMF Badmouths The Dollar In Open Attack On American Middle Class


IMF Badmouths The Dollar In Open Attack On American Middle Class

As part of broader elitist strategy to lower living standards and create two-caste Chinese model

Paul Joseph Watson
Prison Planet
October 19, 2007

Mirroring recent rhetoric from Alan Greenspan, Ben Bernanke and Henry Paulson, the IMF has publicly badmouthed the dollar, claiming it is “overvalued” despite the fact it has lost over half of its value against the Euro since 2001, and predicts its plunge as part of a broader strategy to sink the American middle class.

Countering the pleas of the French and other eurozone countries, who have been forced to beg Bernanke to restore some trust in the greenback as EU exports begin to feel the bite, the IMF has openly and enthusiastically given the green light for traders to continue to sell the dollar.

“The Fund thinks that the US current account deficit will remain close to 1.5 per cent of world output until 2012, raising the likelihood of a disorderly plunge in the dollar and protectionism growing over the next few years,” reports the Financial Times.

In their World Economic Outlook brief, the IMF brazenly states that the agenda in continually badmouthing the dollar is to exalt the Chinese Renminbi in order to contribute to “a necessary rebalancing of demand and to an orderly unwinding of global imbalances.”

In layman’s terms, this means lowering the living standards of the American middle class by tanking the dollar and sending oil prices skyrocketing towards $200, as part of the “post-industrial revolution” agreed upon by the Bilderberg Group. This would eviscerate the middle class and create a two-caste system based upon the Chinese model, where the super-rich live in opulence and the rest of the population are forced to struggle on the poverty line.

With the effects of the credit crunch hitting more and more lower level lenders, it is clear to see that the fallout is spreading and propagating a general decline. We are seeing the unfolding of an overall meltdown that represents a gutting of the United States by neo-mercantilist institutions bent on the formation of a new global monopoly.

The ceaseless bad-mouthing of the dollar in public is clearly part of an orchestrated move to destroy the U.S. economy and pave the way for the Euro to become the world’s reserve currency, eventually heralding the birth of the Amero – the currency of the North American Union.

Former Fed Chairman Alan Greenspan has also been active trashing the greenback over the last two months, in September stating that the Euro would replace the dollar as the global reserve currency of choice.

Also last month, Congressman Ron Paul slammed Federal Reserve Chairman Ben Bernanke for deliberately depreciating the value of the dollar to artificially bail out Wall Street while poor and middle class people lose their homes and have their living standards lowered (watch below).

http://www.youtube.com/watch?v=AeHWW5gbc0w

 

Paul questioned how it could ever be morally justifiable to deliberately depreciate the dollar and pointed out the fact that the dollar collapse was a deliberate policy on behalf of the Fed.

We are witnessing the unfolding of a crash precisely as former World Bank Vice President, Chief Economist and Nobel Prize winner Joseph Stiglitz predicted last year.

IMF says dollar ‘overvalued’
http://www.ft.com/cms/s/e87f070e-7c96-11dc….%3D1&nclick_check=1