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Gold Reserves Surge 1,000% In Hungary As It Joins Poland, Russia, China and Other Central Banks Buying Gold

October 20, 2018

Gold Reserves Surge 1,000% In Hungary As It Joins Poland, Russia, China and Other Central Banks Buying Gold

News, Commentary, Charts and Special Podcast on Direct Access Gold

Here is our Friday digest of the important news, commentary, charts and videos we were informed by this week including our special podcast on Direct Access Gold.

From our perspective, the most important developments were the IMF’s financial warnings and the escalation in central bank gold buying with Hungary increasing its gold reserves by a whopping 1,000% due to increasing “safety concerns.”

For the first time since 1986, Hungary’s central bank is buying gold bullion – a lot of gold bullion.

The Eastern-European country announced that it had boosted its gold reserves ten-fold, up to 31.5 tons. It not only dramatically increased its reserves but also repatriated the gold from the Bank of England to Budapest due to concerns about “financial stability”.

Central banks in Europe are diversifying into gold or moving to repatriate and take “possession in country.”

Hungary and Poland are the most recent central banks to do this but they follow in the footsteps of Austria, Netherlands and the powerful German Bundesbank all of which have been repatriating their gold from the Bank of England and the Federal Reserve in recent months and years.

Source: Bloomberg

“Gold is still considered to be one of the world’s safest assets,” in the words of the Hungarian central bank.

This view is shared by the President of the ECB Mario Draghi who in February 2013 spoke about how “gold is a reserve of safety” which “gives you a value-protection against fluctuations against the dollar.”

Central bank gold reserves remain very small versus the scale of their massive foreign exchange holdings and their significant exposure to the vulnerable dollar in particular but also the euro and other fiat reserve currencies.

…click on the above link to read the rest of the article…

The road away from fossil fuels

August 29, 2018

The road away from fossil fuels

Katowice. Photo by Jadwiga (Flickr)

President Andrzej Duda’s authoritarian government can expect a rough political ride in December, when politicians, diplomats and campaigners stream into Katowice, Poland, for the next UN summit on climate change.

Poland’s so-called climate policy – to aim for “carbon neutrality” by discounting emissions from the coal industry with carbon sucked up by its forests – will face richly-deserved criticism. How loudly that will be heard on the streets is a different matter: Poland’s parliament has banned “spontaneous” gatherings in Katowice during the summit.

Donald Trump, who last year withdrew the US from the 2015 Paris agreement to reduce greenhouse gas emissions, will also be the target of derision, not only from demonstrators but from some politicians inside the talks. The main business at Katowice (the 24th conference of parties to the 1992 Rio climate convention, or COP24) will be to finalise a “rulebook” to monitor government promises to cut greenhouse gas emissions (“nationally determined contributions” or NDCs) made in Paris.

The Paris agreement acknowledged that global temperatures should be kept “well below” 2 degrees higher than pre-industrial levels, and that 1.5 degrees is preferable. Campaigners use every phrase in the document to challenge pro-fossil-fuel policies; to resist attempts to make the global south pay the price for warming; and to promote “just transition” that combines the move from fossil fuels with struggles for social justice.

While fighting all these battles, it’s important not to neglect the larger picture. The Paris agreement is most significant not as a beacon around which the world can gather to stop climate change, but as the outcome of a disastrous process of failure to reverse the growth of fossil fuel consumption, the main cause of warming. At Paris, the idea of binding targets for greenhouse gas emissions reductions was finally abandoned, in favour of voluntary commitments.

…click on the above link to read the rest of the article…

Poland, the Next Turkey? Spotlight on the Zloty and External Debt

August 19, 2018

Poland, the Next Turkey? Spotlight on the Zloty and External Debt

Emerging markets have taken it on the chin. Is Poland next?

Murray Gunn, Head of Global Research at Elliott Wave International, asks “Is Poland the next Turkey?”

Our outlook for the Polish Zloty suggests that Poland’s developing authoritarianism is likely to accelerate.

In case you have been living on Mars over the last few years and have missed what is going on, people around the world are becoming increasingly angry. This is especially true in the periphery of Europe, where countries like Turkey and Hungary are ruled by governments with an intolerance for people who disagree with them. After long negative trends in social mood, the so-called “populist revolution” has also resulted in the election of governments in Italy and Poland that have radical agendas. In Poland’s case, one policy of the ruling Law and Justice Party (nothing sinister about that name, eh) is to overhaul the judicial system by forcing judges to retire early. This, the European Union argues, is aimed at increasing political influence in the Polish legal system. On Monday, the EU stepped up threats of legal action against the Polish government which remains intransigent on the matter. It’s looking very probable that Poland is on the road to becoming internationally isolated.

Indeed, the chart of the Polish zloty versus the Euro suggests that Poland may be in for the same treatment as Turkey. A multi-year consolidation ended at the beginning of this year. It looks like EUR-PLN is entering a strong advance which should see the pair explode higher. Be prepared for that to be accompanied with a further breakdown in international relations with Warsaw.

The above via email. I do not have a link. The chart, as delivered, had an arrow pointing up. I edited the chart, adding a “? and put in arrows up and down.

…click on the above link to read the rest of the article…

Endgame Russia: NATO Sprawl Invades Eastern Europe, No More Illusions

February 27, 2018

Endgame Russia: NATO Sprawl Invades Eastern Europe, No More Illusions

In the past, the North Atlantic Treaty Organization (NATO) justified its militarization of large swaths of Eastern Europe by pointing to the omnipresent threat of terrorism, or some ‘rogue’ foreign state, inherently understood to be Iran. Today the mask has slipped and it is no longer denied that NATO’s primary target is Russia.

But first, a trip down nightmare lane. The road to ruin – at least as far as US-Russia relations were concerned – began immediately following the 9/11 terror attacks. Three months after that fateful day, in December 2001, George W. Bush informed Vladimir Putin that the US was withdrawing from the Anti-Ballistic Missile Treaty, a strange move considering that the treaty had kept the peace between the nuclear superpowers since 1972. This geopolitical “mistake,” as Putin rightly defined it, allowed the US to begin the process of deploying a missile defense system, smack on the border with Russia, allegedly to shield the continent against an attack by Iran. Never mind the fact that Tehran had absolutely no reason, not to mention the wherewithal, to carry out such a suicidal mission. But Washington has never been one to let facts get in the way of a forced move on the global chess board.

Thus, the Bush administration advocated on behalf of a land-based missile defense system with interceptors based in Poland and a radar station in the Czech Republic. However, due to serious objections from Russia, not to mention the apprehensive citizens of the host countries, the plan had reached an impasse in 2008 – just as Obama was replacing Bush in the White House. Some would call that impeccable timing. What happened next can only be described as a devious sleight of hand on the part of Washington.

…click on the above link to read the rest of the article…

Russia In the Crosshairs

February 12, 2018

Russia In the Crosshairs

Defending the latest round of US/Israeli aggression against Syria, US State Department spokesperson Heather Nauert struck a Hitlerian note when she blamed Syria and Iran for an act of overt Israeli aggression, saying “The United States . . . strongly supports Israel’s sovereign right to defend itself,” and when she lied that “Iran’s malign activities” and “calculated escalation of threat and its ambition to project its power and dominance places all people in the region at risk.” https://sputniknews.com/middleeast/201802111061547754-state-department-syria-israel-escalation/

Adolf Hiter covered his “projection of power and dominance” and his invasion of Poland with the same blatant lies that Washington and Israel use to cover their aggressions. Hitler claimed that Polish forces had crossed the frontier and attacked Germany. That is the excuse used by Israel and its puppets in the White House and Pentagon that blames Iran for Israel’s attack on Syria. When Washington and Israel are shameless in their lies, why does Russia think they are “partners” with whom agreements can be reached?

Eric Zuesse notes that only Syria and Russia complain about Washington’s illegal occupation of Syrian territory, an occupation that has no UN authorization and is a complete and total violation of international law, and Israel’s continual attacks on Syria. Washington’s continuing support for war against the legitimate government of Syria and support for Israeli and terrorist attacks on Syrian and Russian forces are undermining Russia’s efforts to bring peace to the region. Zuesse also notes that Washington and its UK puppet block all UN action against Washington’s illegality. http://rinf.com/alt-news/editorials/u-s-not-globally-condemned-military-occupation-syria/

Zuesse is correct. But is the continuation of Washington’s campaign against Syria and Russia largely the fault of Russia? Stephen Lendman makes a case that it is Russia’s fault. https://www.globalresearch.ca/russia-blasts-us-attack-on-syrian-and-allied-forces/5628740

…click on the above link to read the rest of the article…

EU Opens Article Seven Process Against Poland: Poland to Leave the EU?

December 22, 2017

EU Opens Article Seven Process Against Poland: Poland to Leave the EU?

The EU opened up Article 7 charges against Poland for having non-EU values. Poland is a serious risk to leave the EU.

Article seven is a charge against a country for having non-European values.

Specifically, the charge against Poland relates to its judiciary, but the EU also took Poland, Hungary, the Czech Republic, and Slovakia to the European Court of Justice (ECJ) over migrant issues.

Eurointelligence Synopsis of Poland

Yesterday the European Commission triggered an Article 7 procedure under the Lisbon treaty, which could, in theory, lead to the imposition of sanctions against a member state. This procedure’s final vote by the European Council will require unanimity, and Hungary has already said it would veto any attempt to impose sanctions on Poland. For that reason alone, the procedure is likely to fail. The Commission is going ahead because the symbolic act of starting the procedure matters more than the eventual outcome.

In the next step of the process, the Council has to pass a vote by a majority of four-fifths to determine that there is a serious risk of a member state failing to comply with the democratic values of the EU. The European Parliament will first have to give its consent. The procedure culminates with a vote at the European Council, where unanimity would apply. A veto by Hungary ends the process. The question is whether Hungary will actually come to the aid of Poland, and risk political isolation in the EU, or whether they will stick to their pre-announced position.

…click on the above link to read the rest of the article…

US Quietly Bolsters Forces in Poland Breaching Russia-NATO Deal

October 14, 2017

US Quietly Bolsters Forces in Poland Breaching Russia-NATO Deal

The US took advantage of the ballyhoo raised over the “Russian threat” allegedly posed by joint Russian-Belarusian Zapad-2017 military exercise held in September to increase its Army presence in Poland. The alliance again tried to reaffirm its bogus Russia narrative but the Zapad training event was transparent with observers invited and the forces withdrawn to home bases after it was over.

According to Russian Defense Ministry spokesman Igor Konashenkov, the US 3rd Armored Brigade Combat Team, 4th Infantry Division, was meant to have rotated out of Europe with its weapons and equipment left to be manned by troops of the US 2nd Armored Brigade Combat Team, 1st Infantry Division. Instead, the 2nd Armored Brigade had been quietly deployed to Poland (Boleslawiec, Drawsko Pomorskie, Torun, Skwierzyna, Zagan) with its own armored vehicles, while weaponry and equipment of the 3rd Brigade had remained and could be manned within 2 hours by bringing in troops from the US Ramstein Base in Germany. An armored brigade combat team comprises about 4,200 troops and includes approximately 250 tanks, Bradley Fighting Vehicles and Paladin self-propelled howitzers, plus 1,750 wheeled vehicles.

The move was taken against certain background. NATO has already deployed four multinational battalions across Poland, Lithuania, Latvia and Estonia. In a separate move, the US military sent the 2nd Armored Brigade Combat Team along with a corresponding aviation brigade, to Gdansk on a year-round basis in September. It was the first time two armored brigades with full complement of soldiers and equipment were deployed in Europe under the pretext of supporting the exercise dubbed Operation Atlantic Resolve.

…click on the above link to read the rest of the article…

NATO Holds Defense Drill Simulating Russian Invasion Of Baltics

June 18, 2017

NATO Holds Defense Drill Simulating Russian Invasion Of Baltics

NATO officials are growing increasingly nervous about the possibility of an invasion of the Baltic states ahead of Russian wargames planned this fall on the border of Belarus and Poland that could involve as many as 100,000 troops. That “anxiety” was on display this week, when US and British troops carried out the first NATO military exercise that involved a simulated defense of the Suwalki Gap, an area in northern Poland on the border with Lithuania that serves as the gateway to the Baltic region.

In other words, a drill against a Russian invasion of the Baltics states, and by extension, Europe.

NATO officials described the area as a “choke point” that, if it were taken by an invading force, could potentially isolate the Baltic states from their NATO allies, according to Reuters.

“The gap is vulnerable because of the geography. It’s not inevitable that there’s going to be an attack, of course, but … if that was closed, then you have three allies that are north that are potentially isolated from the rest of the alliance”, said U.S. Lieutenant General Ben Hodges.

“We have to practice, we have to demonstrate that we can support allies in keeping (the Gap) open, in maintaining that connection,” he said.

Since Russia’s annexation of Ukraine back in 2014, NATO has shifted four battlegroups totaling just over 4,500 troops to Estonia, Latvia, Lithuania and Poland.

US and UK aircraft took part in the exercises, alongside troops from Poland, Lithuania and Croatia in a simulated defense of the potential flashpoint in an area several hours’ drive from where a U.S. battalion is stationed at Orzysz base in Poland, Reuters reported.

…click on the above link to read the rest of the article…

NATO Builds Infrastructure for Permanent Military Presence Near Russia’s Borders

May 16, 2017

NATO Builds Infrastructure for Permanent Military Presence Near Russia’s Borders

A group of about 50 combat engineers based at Canadian Forces Base Gagetown were deployed to Latvia on April 29 as part of Operation Reassurance. The mission is to build a town for 500 soldiers. According to commanding officer Lt.-Col. Chris Cotton, the installation will have «everything you would expect in a small town, from its kitchen to its quarters, its electrical distribution system, water distribution system, internet, gym facilities that would allow people to survive over the long term in Latvia». Obviously, this is an element of vast infrastructure to provide for a long-term commitment.

In early April, a US-led battle group of 1,350 soldiers for NATO’s Enhanced Forward Presence in Eastern Europe arrived at its base near Orzysz in northeastern Poland. It took place just a few days after a NATO-Russia Council meeting took place on March 30. Secretary-General Jens Stoltenberg called the talks with Moscow «frank» and «constructive». Then the usual song and dance followed under the slogan of Russian threat.

British RAF fighters are scheduled to be stationed to Romania this May. In March the first of 800 UK troops arrived in Estonia supported by around 300 armed vehicles. Along with French and Danish forces they’ll be stationed there on what NATO leadership calls «rotational basis». In January, German and Belgian forces arrived in Lithuania near the Russian enclave of Kaliningrad.

The UK leads the Estonia Battlegroup while other NATO members are deploying forces to Latvia, Lithuania and Poland as part of the bloc’s Enhanced Forward Presence battalion. All in all, 4,000 NATO troops with tanks, armored vehicles, air support, and high-tech intelligence centers deployed to Poland, Latvia, Lithuania, and Estonia.

In accordance with the fiscal year 2017 European Reassurance Initiative budget proposal, the US Army is reopening or creating five equipment-storage sites in the Netherlands, Poland, Belgium and two locations in Germany.

…click on the above link to read the rest of the article…

NATO Troops moved from Germany to Poland on Weekend

March 27, 2017

NATO Troops moved from Germany to Poland on Weekend

Soldiers were moved over the weekend from the Garrison at Vilseck and were stationed at Orzysz in Poland close to the border with Belarus. This was a NATO unit consisting of units from the USA, Great Britain and Romania. With tensions building between Belarus and Russia, this particular troop reassignment is interesting to say the least.

The Ever-Growing List of ADMITTED False Flag Attacks

March 7, 2017

The Ever-Growing List of ADMITTED False Flag Attacks

Painting by Anthony Freda

Presidents, Prime Ministers, Congressmen, Generals, Spooks, Soldiers and Police ADMIT to False Flag Terror

In the following instances, officials in the government which carried out the attack (or seriously proposed an attack) admit to it, either orally, in writing, or through photographs or videos:

(1) Japanese troops set off a small explosion on a train track in 1931, and falsely blamed it on China in order to justify an invasion of Manchuria. This is known as the “Mukden Incident” or the “Manchurian Incident”. The Tokyo International Military Tribunal found: “Several of the participators in the plan, including Hashimoto [a high-ranking Japanese army officer], have on various occasions admitted their part in the plot and have stated that the object of the ‘Incident’ was to afford an excuse for the occupation of Manchuria by the Kwantung Army ….” And see this, this and this.

(2) A major with the Nazi SS admitted at the Nuremberg trials that – under orders from the chief of the Gestapo – he and some other Nazi operatives faked attacks on their own people and resources which they blamed on the Poles, to justify the invasion of Poland.

(3) The minutes of the high command of the Italian government – subsequently approved by Mussolini himself – admitted that violence on the Greek-Albanian border was carried out by Italians and falsely blamed on the Greeks, as an excuse for Italy’s 1940 invasion of Greece.

(4) Nazi general Franz Halder also testified at the Nuremberg trials that Nazi leader Hermann Goering admitted to setting fire to the German parliament building in 1933, and then falsely blaming the communists for the arson.

(5) Soviet leader Nikita Khrushchev admitted in writing that the Soviet Union’s Red Army shelled the Russian village of Mainila in 1939 – while blaming the attack on Finland – as a basis for launching the “Winter War” against Finland. Russian president Boris Yeltsin agreed that Russia had been the aggressor in the Winter War.

…click on the above link to read the rest of the article…

Putin Warns Romania and Poland Against Installing ABM Missiles

May 29, 2016

Putin Warns Romania and Poland Against Installing ABM Missiles

On Friday, May 27th, Russia’s President Vladimir Putin again asserted that American President Barack Obama lies when saying that the reason America’s anti-ballistic missile (“ABM”) or Ballistic Missile Defense (“BMD”) system is being installed in Romania, and will soon be installed in Poland, is to protect Europe from Iranian missiles that don’t even exist and that Obama himself says won’t exist because of Obama’s deal with Iran. Putin is saying: I know that you are lying there, not being honest. You’re aiming to disable our retaliatory capacity here, not Iran’s. I’m not so dumb as to believe so transparent a lie as your assurances that this is about Iran, not about Russia.

Putin says that ABMs such as America is installing, disable a country’s (in this case, Russia’s) ability to retaliate against a blitz invasion — something increasingly likely from NATO now as NATO has extended right up to Russia’s very borders — and that Russia will not allow this disabling of Russia’s retaliatory forces.

He said that “NATO fend us off with vague statements that this is no threat to Russia … that the whole project began as a preventive measure against Iran’s nuclear program. Where is that program now? It doesn’t exist. … We have been saying since the early 2000s that we will have to react somehow to your moves to undermine international security. No one is listening to us.”

In other words, he is saying that the West is ignoring Russia’s words, and that therefore Russia will, if this continues, respond by eliminating the ABM sites before they become fully operational. To do otherwise than to eliminate any fully operational ABM system on or near Russia’s borders would be to leave the Russian people vulnerable to a blitz attack by NATO, and this will not be permitted.

…click on the above link to read the rest of the article…

“We Are Prepared To Fight” – In Dramatic Shift NATO Changes East European Doctrine From “Assurance” To “Deterrence”

April 1, 2016

“We Are Prepared To Fight” – In Dramatic Shift NATO Changes East European Doctrine From “Assurance” To “Deterrence”

We are one step closer to another full-blown return of the cold war.

Yesterday, during a briefing in Latvia’s capital Riga, NATO Gen. Philip Breedlove said that NATO and the United States are switching their defense doctrine from assurance to deterrence in Eastern Europe in response to a “resurgent and aggressive Russia.”

The comments by Breedlove come a day after the Pentagon said it would begin continuous rotations of an additional armored brigade of about 4,200 troops in Eastern Europe beginning in early 2017.

“We are prepared to fight and win if we have to … our focus will expand from assurance to deterrence, including measures that vastly improve our overall readiness,” Breedlove said following talks with Baltic region NATO commanders.

“To the east and north we face a resurgent and aggressive Russia, and as we have continued to witness these last two years, Russia continues to seek to extend its influence on its periphery and beyond.”

As Defensenews reports, Eastern NATO members including the formerly Soviet-ruled Baltic states and Poland have been lobbying the alliance to increase its presence in the region. And now NATO is obliging, and in the process assuring that Russia will once again escalate in kind.

We also know the timing of the next major geopolitical tension between NATO and Russia: “In the spring of 2017 what we will bring to Europe, and then again put into the three Baltic nations, is an armored brigade fully enabled with command and control and all of the supporting equipment required,” Breedlove said.

Asked by AFP whether he expected other NATO members to match the upped US troop commitment, Breedlove said: “We would hope (so).”

“What we have seen is that when we led by coming here with company-sized formations after (Russia’s actions in) Crimea and Donbas, other nations have shown up now with company-sized formations.”

…click on the above link to read the rest of the article…

NATO’s Provocative Anti-Russian Moves

February 13, 2016

NATO’s Provocative Anti-Russian Moves

Official Washington’s demonization of Vladimir Putin and the neocon “group think” about “Russian aggression” have fueled a reckless drive to move NATO forces up to Russia’s border, thus heightening risks of nuclear war and not serving real U.S. national interests, writes Jonathan Marshall.

Twenty-seven years after the fall of the Berlin Wall, NATO is back flexing its muscles as if nothing had changed since the days of the Soviet Union. Defense ministers from the enlarged, 28-member organization agreed recently to strengthen the alliance’s “forward presence” in Eastern Europe. If their new policy is endorsed at a summit in Poland this summer, NATO will begin deploying thousands of troops in Poland and the Baltic states, right up against Russia’s borders.

In other words, the Western alliance will redouble its military commitment to a Polish government whose right-wing, anti-Russian, and autocratic policies are so egregious that even the stanchly neo-conservative editorial page of the Washington Post saw fit to condemn the new leaders’ encroachments on democracy and the rule of law.

NATO headquarters in Brussels, Belgium.

Worse yet, NATO’s provocative commitment will include a potential threat to start World War III on behalf of that government. Most Americans are unaware that NATO’s policies — reaffirmed by the Obama administration — view nuclear weapons as a “core component” of the alliance’s capacity to repel even a conventional attack on one of its member states.

An accidental clash of forces, perhaps triggered by military exercises gone awry, could potentially lead NATO to use its nuclear weapons against Russian troops on Poland’s borders. Or, just as catastrophically, it could prompt Russian forces to attack NATO’s nuclear stockpiles preemptively.

Either scenario could trigger a much wider nuclear war. The British television channel BBC Two explored such a scenario, involving Latvia, in a chilling “war game” film that aired earlier this month.

…click on the above link to read the rest of the article…

Ukraine’s Looming “19 Fukushimas” Scenario

December 25, 2015

Ukraine’s Looming “19 Fukushimas” Scenario

With all the action in Syria, the Ukraine is no longer a subject for discussion in the West. In Russia, where the Ukraine is still a major problem looming on the horizon, and where some 1.5 million Ukrainian refugees are settling in, with no intentions of going back to what’s left of the Ukraine, it is still actively discussed. But for the US, and for the EU, it is now yet another major foreign policy embarrassment, and the less said about it the better.

In the meantime, the Ukraine is in full-blown collapse – all five glorious stages of it – setting the stage for a Ukrainian Nightmare Before Christmas, or shortly after.

Phase 1. Financially, the Ukrainian government is in sovereign default as of a couple of days ago. The IMF was forced to break its own rules in order to keep it on life support even though it is clearly a deadbeat. In the process, the IMF stiffed Russia, which happens to be one of its major shareholders; what gives?

Phase 2. Industry and commerce are approaching a standstill and the country is rapidly deindustrializing. Formerly, most of the trade was with Russia; this is now over. The Ukraine does not make anything that the EU might want, except maybe prostitutes. Recently, the Ukraine has been selling off its dirt. This is illegal, but, given what’s been happening there, the term “illegal” has become the stuff of comedy.

Phase 3. Politically, the Ukrainian government is a total farce. Much of it has been turned over to fly-by-night foreigners, such as the former Georgian president Saakashvili, who is a wanted criminal in his own country, which has recently stripped him of his citizenship. The parliament is stocked with criminals who bought their seat to gain immunity from prosecution, and who spend their time brawling with each other.

…click on the above link to read the rest of the article…

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