Archive for September 2016

Finland Unleashes Helicopter Money In “Greatest Societal Transformation Of Our Time”

If you haven’t heard of “Helicopter Money”, this might be your chance to learn a little about it, because it is likely to become widespread as the global game unravels:

Finland is about to launch an experiment in which a randomly selected group of 2,000–3,000 citizens already on unemployment benefits will begin to receive a monthly basic income of 560 euros (approx. $600). That basic income will replace their existing benefits. The amount is the same as the current guaranteed minimum level of Finnish social security support. The pilot study, running for two years in 2017-2018, aims to assess whether basic income can help reduce poverty, social exclusion, and bureaucracy, while increasing the employment rate.

The Finnish government introduced its legislative bill for the experiment on 25 August. Originally, the scope of the basic income experiment was much more ambitious. Many experts have criticized the government’s experiment for its small sample size and for the setup of the trial, which will be performed within just one experimental condition. This implies that the experiment can provide insights on only one issue, namely whether the removal of the disincentives embedded in social security will encourage those now unemployed to return to the workforce or not.

Still, the world’s largest national basic income experiment represents a big leap towards experimental governance, a transformation that has been given strong emphasis in the current government program of the Finnish state. Additionally, the Finnish trial sets the agenda for the future of universal basic income at large. Its results will be closely followed by governments worldwide. The basic income experiment may thus well lead to the greatest societal transformation of our time.

End of quote.

If you think the notion of Helicopter Money is bizarre, then the understanding that the entire financial system is a rigged game serving the global elite, in which we live inside this false paper currency world where they simply print the money as needed “out of thin air” and charge Governments and others to use it, must still be dawning on you. Helicopter Money is just the latest card to emerge from the deck.

Richard

Check out the extraordinary new, life-changing technology at www.magravsplasmaproducts.com

Global Supply Chains Paralyzed After World’s 7th Largest Container Shipper Files Bankruptcy, Assets Frozen

Are the dominoes starting to fall?

After years of relentless decline in the Baltic Dry index…

… today the largest casualty finally emerged on Wednesday when South Korea’s Hanjin Shipping, the country’s largest shipping firm and the world’s seventh-biggest container carrier, filed for court receivership after losing the support of its banks, leaving its assets frozen as ports from China to Spain denied access to its vessels.

Richard

Check out the extraordinary new, life-changing technology at www.magravsplasmaproducts.com

 

Deutsche Bank Refuses Delivery Of Physical Gold Upon Demand

I present this Zero Hedge article in full:

While the trading world was focused on the latest news involving Deutsche Bank, namely that the troubled German bank had been contemplating a merger with Germany’s other mega-bank, Commerzbank as part of a strategy to sell all or part of a key business to speed up its flagging overhaul, a more troubling report emerged in a German gold analysis website, according to which Deutsche Bank was unable to satisfy a gold delivery request when asked to do so by a client of Germany’s Xetra-Gold service.

But first, what is Xetra-Gold?

According to its website, the publicly traded company “provides investors with an efficient instrument to participate in the performance of the gold market. Xetra-Gold’s combination of features – cost-efficient trading and the right for physical delivery of gold – makes it an attractive product.”

Among its highlights, Xetra-Gold lists the following:

Cost-efficient trading: No mark-up fee, no transportation or insurance costs such as those incurred when purchasing physical gold. Only the standard transaction fees that are charged for on-exchange securities trading are payable at the time of acquisition. The spreads that apply to purchase and sale correspond to the standard conditions on the global market and are considerably lower than those for traditional gold-based financial products. Furthermore, management or administration fees relating to Xetra-Gold are not incurred. The investor pays the amount of custody fees which he/she has agreed upon with the depository bank.

Physically backed: The issuer uses the proceeds from the issue of Xetra-Gold to purchase gold. The physical gold is held in custody for the issuer in the Frankfurt vaults of Clearstream Banking AG, a wholly-owned subsidiary of Deutsche Börse AG. In order to facilitate the delivery of physical gold, the issuer holds a further limited amount of gold on an unallocated weight account with Umicore AG & Co. KG.

Transparent:  Xetra-Gold tracks the price of gold on a virtually 1:1 basis, and is always up to date.

Tradeable in euros per gram: While in the past, gold was mainly denominated in US dollars per troy ounce, you trade Xetra-Gold in euros per gram.

Stable/Constant holdings: The investor’s right to receive delivery of the certificated amount of gold is not reduced by management costs or other fees, unlike other investments in gold. 1,000 units of Xetra-Gold will still represent a kilogram of gold in 30 years’ time.

The company makes the following promise:

Redemption for gold: Investors always have the possibility of demanding delivery of the securitised amount of gold per bearer note against the issuer. If the investor is not able to exercise this right due to legal restrictions effective for him/her, he/she can demand the cashing of Xetra-Gold from the issuer. In this case, a settlement fee of EUR 0.02 per Xetra-Gold bond will be charged.

Delivery of gold: If an investor asserts his/her right to the delivery of the certificated volume of gold from the issuer, the gold will be transported to the respective point of delivery by Umicore AG & Co. KG, which is responsible for all physical delivery processes. The issuer will also have delivery rights of gold from Umicore AG & Co. KG, as the gold leaf debtor. Investors can find information on delivery and the alternative payment claims that are relevant for investment and insurance companies in the PDF document entitled ‘Information on the process for exercising Xetra-Gold’.

And yes, Deutsche Bank is involved, as the fund’s Designated Sponsor.

In other words, Xetra-Gold is an Exchange-Traded Commodity which differentiates itself by “representing that every gram of gold purchase electronically is backed by the same amount of physical gold” and its principal bank is none other than Deutsche Bank.

And with Germans recently rushing to buy safes or find sound money alternatives in a country where the interest rate is negative, the ETC, it is not surprising that the population has flocked to its offering.

According to recent report by LeapRate, the gold held in custody by Deutsche Borse Commodities for the purpose of physically backing the Xetra-Gold bond has risen to a new record high of 90.67 tons, an increase of more than 50% since the beginning of the year. “For each Xetra-Gold bond, exactly one gram of gold is deposited in the central vaults for German securities in Frankfurt” the report parrots the company’s website.

Among all exchange-traded commodities (ETCs) tradable on Xetra, Xetra-Gold is by far the most successful in terms of turnover. During the first seven months of the year, order book turnover on Xetra stood at approximately €1.5 billion. The assets managed by Xetra-Gold currently amount to €3.5 billion.

In September 2015, the German Federal Fiscal Court (Bundesfinanzhof) had ruled that after a minimum holding period, any profits from the sale or redemption of Xetra-Gold are not subject to the capital gains tax. From a fiscal point of view, the purchase, redemption or sale are thus to be treated equal to a direct purchase or sale of physical gold, such as in bullions or coins.

But what is most notable, is that, as noted above, Xetra-Gold investors are entitled to the delivery of the certified amount of physical gold at any time, and adds that “since the introduction of Xetra-Gold in 2007, investors have exercised this right 900 times, with a total of 4.5 tons of gold delivered.

However, something appears to have changed.

As Oliver Baron reports, those who ask for gold delivery at this moment, “could encounter difficulties.” The reason is that according to Baron, a reader of GodmodeTrader “sought physical delivery of his holdings of Xetra-Gold. For this he approached, as instructed by the German Borse document, his principal bank, Deutsche Bank.”

At that point then he encountered a big surprise: the Deutsche Bank account executive informed the investor that “the service”, is no longer offered, namely exercising physical delivery at Xetra-Gold, for “reasons of business policy” and therefore the order form provided by Clearstream Banking AG for exercising Xetra-gold is no longer available.

Baron writes that since Deutsche Bank is no longer serving the physical exercising of delivery request of Xetra-Gold is remarkable, as Deutsche Bank is the “designated sponsor” as well as fiscal, principal and redemption agent of Xetra-Gold according to its prospectus, and as the explainer of how to exercise physical delivery also reveals. Even if one is a customer of another bank, Xetra-Gold should – at least on paper- guarantee delivery by way of Deutsche Bank, as the Deutsche Borse Commodities GmbH explains in its “process description for exercising units

Step-by-step description of exercise

Together with a representative of his principal bank, the investor creates the transaction and sends it to the principal bank’s custodian with the relevant process data described above. The custodian in turn instructs its custodian, stipulating all process-relevant data, until a bank which is a customer of Clearstream Banking is authorised.

The customer may use the attached exercise form to instruct the designated sponsor (here Deutsche Bank AG, Frankfurt) to deliver a specified number of gold bars to the point of delivery. The process is similar to that for the delivery of physical certificates.

The customer should send the original exercise form to the following address:

 

Deutsche Bank AG
“Ausübung Xetra-Gold” CIB-Global Banking
Trust & Securities Services
Grosse Gallusstrasse 10 – 14
60311 Frankfurt am Main
Germany

 

To transfer the required amount of Xetra-Gold units to the blocked account of Deutsche Börse Commodities, the customer should also place an FoP instruction via CASCADE or File Transfer/SWIFT.

Delivery will be initiated if Deutsche Bank receives the securities and the application form by 10:00 CET. As a rule it takes one to two weeks to deliver retail gold bars and four days for London Good Delivery gold bars from date of ordering. As soon as the delivered gold arrives at the point of delivery, the Xetra-Gold® units are removed and recovered from the “Ausübungskonto DBCo” (DBCo exercise account).

Due to the provisions of the Money Laundering Act (Geldwäschegesetz) only the branch of a bank may be used as point of delivery. Investors expecting a large delivery of gold should contact their principal bank to discuss the transfer of the gold to the point of delivery.

The article goes on to note that it was not clear whether the exercise and physical delivery at other banks is actually still possible. Baron said that Deutsche Borse Commodities advised to transfer the Xetra-Gold shares in a cooperative/Raiffeisenbank since physical delivery is allegedly still possible here. The Deutsche Borse also announced that it is currently working on the “possibility of delivery regardless of bank branch.” However, since this process was not described in the prospectus of Xetra-Gold, it would have to be legally tested, which could take considerable time.

The article’s conclusion: anyone who wants to easily convert their Xetra-Gold holdings into physical gold – at least for clients of Deutsche Bank – can do so only by selling their shares, and then buying gold coins or bars directly elsewhere. Which leads the author to the logical question: what is the worth of the Xetra-Gold service, which certifies the right to redeem physical gold, if said delivery is no longer possible?

In other words, what was supposedly an ETC which promised physical delivery upon demand, is nothing more than yet another “paper only” play.

We, on the other hand, have a more focused question: is the inability to deliver physical gold an incipient issue with Xetra-Gold, or with the company’s “designated sponor” Deutsche Bank, and if the latter is suddenly unable to satisfy even the smallest of delivery requests by retail clients, just how unprecedented is the global physical gold shortage?

End of quote.

Is this the thin end of a very large wedge?

Richard

Check out the extraordinary new, life-changing technology at www.magravsplasmaproducts.com

Afghan opium production saw 4000% increase since US-led NATO invasion

I share this article with you in case you don’t yet know what the war in Afghanistan is about:

TEHRAN (Tasnim) – Since the US-led NATO invasion of Afghanistan in 2001, the production of opium in the country has increased by 40 times according to Russia’s Federal Drug Control Service, fueling organized crime and widespread death.

The head of the FSKN, Viktor Ivanov, explained the staggering trend at a March UN conference on drugs in Afghanistan. Opium growth in Afghanistan increased 18 percent from 131, 000 hectares to 154, 000, according to Ivanov’s estimates.

“Afghan heroin has killed more than one million people worldwide since the ‘Operation Enduring Freedom’ began and over a trillion dollars has been invested into transnational organized crime from drug sales,” said Ivanov, according to TeleSUR news website.

Prior to the invasion of Afghanistan, opium production was banned by the Taliban, although it still managed to exist.

The US and its allies have been accused of encouraging and aiding in the opium production and the ongoing drug trafficking within the region. Ivanov claimed that only around 1 percent of the total opium yield in Afghanistan was destroyed and that the “international community has failed to curb heroin production in Afghanistan since the start of NATO’s operation.”

Afghanistan is thought to produce more than 90 percent of the world’s supply of opium, which is then used to make heroin and other dangerous drugs that are shipped in large quantities all over the world. Opium production provides many Afghan communities with an income, in an otherwise impoverished and war-torn country. The opium trade contributed around $US 2.3 billion or around 19 percent of Afghanistan’s GDP in 2009 according to the UN.

Around 43 percent of drugs produced in Afghanistan are moved through Pakistan, according to the United Nations Office on Drugs and Crime.

Daesh is reported to have recently taken over opium production and trafficking. In November, the extremist group was estimated to be earning over $US 1 billion from the opium trade. Profits also go to international drug cartels and money-laundering banks.

End of quote.

There are also highly valuable mineral reserves there, but the drug industry has been one of the key income sources for the global elite since time immemorial.

That’s why there’s been a war on drugs…

Did you pick up the satanic inversion? It’s everywhere if you look.

Richard

Check out the extraordinary new, life-changing technology at www.magravsplasmaproducts.com

ATF Reclassifies Wetted Nitrocellulose as an explosive

An extraordinary announcement that apparently makes a lot of ammunition illegal:

Washington, DC -(AmmoLand.com)- In an Explosives Industry Newsletter issued in June 2016, the Bureau of Alcohol, Tobacco, Firearms and Explosives (“ATF”) reclassified wetted nitrocellulose [also known as flash paper, flash cotton, guncotton, and flash string] containing greater than 12.6 percent nitrogen as a high explosive under the federal explosives laws.

As explained below, this is a dramatic and sudden change in agency policy with a significant impact on the ammunition industry. The new policy was announced in a newsletter without any opportunity for industry input.

  1. Background

The federal explosives laws, 18 U.S.C. Chapter 40, regulate commerce in “explosive materials.” The term “explosive materials” is defined as explosives, blasting agents, and detonators. The term “explosives” is defined as any chemical compound mixture or device the primary or common purpose of which is to function by explosion. The definition requires ATF to publish an annual list of explosives that fit within the statutory definition. The 2015 List of Explosives is available at https://www.gpo.gov/fdsys/pkg/FR-2015-10-23/pdf/2015-26994.pdf.

Exemptions from the requirements of the federal explosives laws are provided, in pertinent part, for: (1) the transportation, shipment, receipt, or importation of explosive materials for delivery to any federal or State agency; (2) for small arms ammunition and components thereof; and (3) for the manufacture under the regulation of the U.S. military of explosive materials for their official use.

The term “ammunition” is defined in 27 C.F.R. § 555.11 as follows:

“Small arms ammunition or cartridge cases, primers, bullets, or smokeless propellants designed for use in small arms, including percussion caps, and 3/32 inch and other external burning pyrotechnic hobby fuses. The term does not include black powder.”

ATF’s longstanding position is that the small arms ammunition exemption applies only to .50 caliber or smaller rifle or handgun ammunition as well as certain shotgun ammunition. This position is clear in a June 2013 Explosive Industry Newsletter addressing exploding ammunition.

End of quote.

This video introduces this and shares more articles.

I am not competent to assess this, but it is being interpreted by some as a backdoor way to disable guns in the United States.

If this is accurate, I expect there will be some serious pushback.

Richard

Check out the extraordinary new, life-changing technology at www.magravsplasmaproducts.com

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