Baltic Dry Index. 889 +01
LIR Gold Target by 2019: $30,000. Revised due to QE programs.
It may be St George’s Day here in London, patron
Saint of England, but in Tokyo it was the day for Japanese politicians to all
head out to the Yasukuni Shrine to pay homage to Japan’s World War Two war
criminals. The equivalent in Europe would be Germany’s politicians all heading
down to Nuremburg to honour Hitler and the rest of team of criminal murderers.
Japan seems to have an agenda to start renewed trouble with China. Renewed
trouble over the Diaoyu’s is what they will get, I suspect. Yet another reason to add to holdings of physical
gold. Who would want to own a Japanese auto dealership in modern China?
Japan Shrine Visits Further Strain Ties Frayed by Island Dispute
By Isabel
Reynolds & Takashi Hirokawa - Apr 23, 2013 5:47 AM GMT
A group of Japanese lawmakers visited a shrine seen in Asia as a symbol of
the country’s wartime aggression, fanning regional tensions as eight Chinese
patrol boats approached islands claimed by both countries.The 169 lawmakers visited the Yasukuni Shrine today as part of the site’s spring festival, Kyodo news agency said, citing a statement from the group. It was the largest gathering of politicians to visit since records of such trips were first kept in 1989, and comes after China and South Korea complained about a visit last weekend by Finance Minister Taro Aso.
The Yasukuni visits and sea patrols imperils efforts to repair a relationship that may be at the lowest point since formal ties were set in 1972, after Japan’s purchase of the islands in September sparked protests across China. Aso sought to play down the significance of the shrine visits, saying they would have no bearing on the relationship.
“Relations between China and Japan are at their worst since diplomatic ties were established,” said Rumi Aoyama, a professor of Chinese studies at Waseda University in Tokyo. “Sovereignty and understanding of history are problems on which neither Japan nor China wants to compromise.”
China’s official Xinhua News Agency reported that eight Chinese surveillance ships monitored “several” Japanese ships in waters around the Diaoyu Islands today. The East China Sea islands, known as Senkaku in Japan, are claimed by both sides and sit in an area rich in resources including fish and oil.
Japan’s Chief Cabinet Secretary Yoshihide Suga said the government had protested to China and urged that the ships leave the area. A group of Japanese activists are scheduled to stage one of their regular fishing trips to waters around the islands by April 25, according to a statement on the group’s website.
The Tokyo shrine is viewed in China and Korea as a symbol of military atrocities during Japan’s occupation of much of Asia in the first half of the 20th century. Yasukuni commemorates Japan’s war dead, including World War II leaders convicted by an international tribunal of war crimes.
More
In other Asian news, the wobble in China’s economy
continues, and it’s now starting to weigh on Asian markets. Commodities “Dr.
Copper” is signalling of yet more trouble ahead in China’s wobbly economy.
Perhaps a scrap with unrepentant Japan is just what the Dr. needs.
April 22, 2013, 10:42 p.m. EDT
China manufacturing data disappoint
LOS
ANGELES (MarketWatch) — China’s manufacturing-activity growth has slowed this
month, according to HSBC data released Tuesday.
The
preliminary or “flash” version of HSBC’s manufacturing Purchasing Managers’
Index fell to a two-month low of 50.5 from March’s final reading of 51.6, and
below a Bloomberg forecast of 51.5.
While the
headline index remained above the 50 mark that divides growth from contraction,
the subindex for sector employment swung to a decrease.
On a
similarly downbeat note, the subindex for new orders showed expansion at slower
pace than in March, while the subset including those new orders destined for
export swung to showing a decrease.
More
Asian Stocks Drop as China Manufacturing Growth Slows
By Jonathan Burgos - Apr 23, 2013 6:00 AM GMT
Asian
stocks fell, with the regional benchmark index heading for its
first decline in three days, after a preliminary report showed Chinese manufacturing
expanded less than economists estimated.
----Chinese lenders declined. Agricultural Bank of China sank 2.8 percent to HK$3.43 in Hong Kong. Industrial & Commercial Bank of China Ltd., the world’s biggest lender by market value, slipped 1.7 percent to HK$5.16. China Construction Bank Corp., fell 1.6 percent to HK$6.12
“Investors are worried about whether the recovery of the Chinese economy will continue,” said Ben Kwong, chief operating officer at brokerage KGI Asia Ltd. in Hong Kong. “If you look at the number, it’s still above 50, so it’s not bad. But market sentiment remains cautious because there are still prevailing uncertainties like bird flu and the earthquake in Sichuan.”
More
Back in Europe, in the lands of the setting sun, the
farce of Italy just keeps rolling along. Newly re-elected as President because
there was no consensus for a younger man, 87 year old President Napolitano is
calling for “timely decisions for reforms.” He is supposed to serve out seven years at a
time of life where even Pope’s have started retiring. In this latest iteration
of politics as usual in Italy, Beppe Grillo’s Five Star Movement gets excluded
to the roll of opposition. My guess from far away London, is that the return of
politics as usual, consigning the upstart Five Star Movement to opposition,
will likely outrage much of Italy’s voters, who voted in February for just the
opposite result. Where’s Niccolo Machiavelli when you need him. My guess is
that this bodge job will not last. Euros anyone?
Italy is not technically part of the Third World, but no one has told the Italians.
P. J. O’Rourke. No, unfortunately it’s part of the EU.
Napolitano Opens New Round of Italian Government Formation Talks
By Andrew Frye - Apr 22, 2013 11:00 PM GMT
Italian President Giorgio Napolitano, strengthened by his re-appointment
yesterday, is starting a new round of consultations aimed at forging consensus
for a new government. “We can no longer, in any way, shirk the responsibility of proposing practical solutions and timely decisions for reforms that are immediately needed for the survival and progress of Italian democracy and society,” Napolitano, 87, said in a speech to Parliament in Rome after his swearing in.
----Napolitano will probably find
political parties more open to compromise than last month, when his first round
of talks after inconclusive elections failed to yield results. The Democratic
Party and Former Prime Minister Silvio Berslusconi’s People of Liberty set the
stage on April 20 for a possible coalition government by coming together to
give Napolitano a second seven-year term.
----A deal would relieve Prime Minister Mario Monti of his caretaker role and give Italy the parliamentary majority it needs to pass economic stimulus and shield the country from bond-market speculation. The Italian parliament has been deadlocked since elections Feb. 24-25 split the Senate into three blocs.
Napolitano may ask former Prime Minister Giuliano Amato to lead a government, with Angelino Alfano of People of Liberty and Enrico Letta of the Democratic Party as his deputies, newspaper Corriere della Sera reported. Another option would be Letta as premier with Alfano as his deputy, Corriere said.
The political impasse eased on April 19 with the resignation of Democratic Party General Secretary Pier Luigi Bersani, who had shunned deals with Berlusconi. Bersani, who won a majority in the Chamber of Deputies in the February election, made good on his pledge to resign after Napolitano’s re- election.
The improved relations between the Democratic Party and People of Liberty may leave Beppe Grillo’s Five Star Movement, the third-biggest parliamentary force, in opposition.
More
Elsewhere on the continent made for tanks, Germany’s
Chancellor Merkel was politely reminding the lesser Eurolanders’ that it is my
way or the highway. “We need to be ready to accept that Europe has the last word in certain
areas. Otherwise we won't be able to continue to build Europe.” Replace the first “Europe” with “Germany,” and the message comes through loud and clear. The
qualifications are purely cosmetic.
“Will
you walk into my parlour?” said the Spider to the Fly, ”
‘Tis the prettiest little parlour that ever you did spy;
The way into my parlour is up a winding stair,
And I have many curious things to show you when you are there.”
‘Tis the prettiest little parlour that ever you did spy;
The way into my parlour is up a winding stair,
And I have many curious things to show you when you are there.”
“Oh
no, no,” said the Fly, “to ask me is in vain;
For who goes up your winding stair can ne’er come down again.”
For who goes up your winding stair can ne’er come down again.”
Angela Merkel: 'Europe has the last word in certain areas'
Countries in the eurozone must accept that Europe “has the last word” and need to work together more closely if the continent is to avoid going into decline, German chancellor Angela Merkel has warned.
By Jeevan
Vasagar, and agencies 3:10PM BST 22 Apr 2013
In the
latest signal that Germany backs stricter Europe-wide controls over national
budgets, the chancellor said that eurozone members had to be prepared to
surrender authority to European institutions.
Speaking
at an event hosted by Deutsche Bank in Berlin alongside Polish Prime Minister
Donald Tusk, Mrs Merkel said: “We seem to find common solutions when we are
staring over the abyss.
“But as
soon as the pressure eases, people say they want to go their own way.
“We need
to be ready to accept that Europe has the last word in certain areas. Otherwise
we won't be able to continue to build Europe.”
European
leaders are due to meet in June to discuss moving towards fiscal union. Germany
favours tighter, centralised controls of national budgets and has proposed that
the EU’s economics commissioner should be given more powers to police countries’
budgets. Berlin insists that deficit reduction is key to rebuilding the euro
zone economy.
----But Mrs Merkel denied that Germany was imposing its view, saying Europe was made up of different cultures and economies with different strengths.
She said:
"We don't always need to give up national practices but we need to be
compatible. It is chaos right now.
"We
need to be prepared to break with the past in order to leap forward. I'm ready
to do this.”
This
meant Germany accepting more compatible social security systems so that
Europeans could move between countries without worrying about their pensions.
Mrs
Merkel rejected the idea that her country was seeking "hegemony" in
the European Union, and pledged to seek consensus.
More
Time for the UK to take back our wasted 10 billion Pounds contribution a
year and exit this attempt at a German run EUSSR. If the rest of Europe wants to
be tax serfs to Berlin, that’s up to them.
Said
the cunning Spider to the Fly, “Dear friend what can I do,
To prove the warm affection I 've always felt for you?
I have within my pantry, good store of all that's nice;
I'm sure you're very welcome — will you please to take a slice?”
“Oh no, no,” said the little Fly, “kind Sir, that cannot be,
I've heard what's in your pantry, and I do not wish to see!”
To prove the warm affection I 've always felt for you?
I have within my pantry, good store of all that's nice;
I'm sure you're very welcome — will you please to take a slice?”
“Oh no, no,” said the little Fly, “kind Sir, that cannot be,
I've heard what's in your pantry, and I do not wish to see!”
At the Comex silver depositories Monday final figures were: Registered 39.13
Moz, Eligible 126.42 Moz, Total 165.55 Moz.
Crooks and
Scoundrels Corner
The bent, the seriously bent, and the totally
doubled over.
Today, a little morality
tale from the past. Sadly no one is listening in Euroland.
The Spider turned him round about, and went into his den,
For well he knew the silly Fly would soon come back again:
So he wove a subtle web, in a little corner sly,
And set his table ready, to dine upon the Fly.
Then he came out to his door again, and merrily did sing,
“Come hither, hither, pretty Fly, with the pearl and silver wing;
Your robes are green and purple — there's a crest upon your head;
Your eyes are like the diamond bright, but mine are dull as lead!”
Alas, alas! how very soon this silly little Fly,
Hearing his wily, flattering words, came slowly flitting by;
With buzzing wings she hung aloft, then near and nearer drew,
Thinking only of her brilliant eyes, and green and purple hue —
Thinking only of her crested head — poor foolish thing!
For well he knew the silly Fly would soon come back again:
So he wove a subtle web, in a little corner sly,
And set his table ready, to dine upon the Fly.
Then he came out to his door again, and merrily did sing,
“Come hither, hither, pretty Fly, with the pearl and silver wing;
Your robes are green and purple — there's a crest upon your head;
Your eyes are like the diamond bright, but mine are dull as lead!”
Alas, alas! how very soon this silly little Fly,
Hearing his wily, flattering words, came slowly flitting by;
With buzzing wings she hung aloft, then near and nearer drew,
Thinking only of her brilliant eyes, and green and purple hue —
Thinking only of her crested head — poor foolish thing!
At last,
Up jumped the cunning Spider, and fiercely held her fast.
He dragged her up his winding stair, into his dismal den,
Within his little parlour — but she ne'er came out again!
Up jumped the cunning Spider, and fiercely held her fast.
He dragged her up his winding stair, into his dismal den,
Within his little parlour — but she ne'er came out again!
The
Spider and the Fly. Mary Howitt.
We end for today, with yet another chapter in our new lawless age. What
happens in America today, happens in the rest of the world tomorrow. Coming
next, shoot first, ask later. Or in our economic sector, bomb gold and silver,
rig markets and interest rates, steal bank depositors money, QE to infinity and
beyond. In the second decade of the 21st century, banksters have
become too big to fail or jail. Stay long physical gold, it just might help you
slip out of the country when the new Robespierre’s take over.
Shocking Footage: Americans Ordered Out Of Homes At Gunpoint By SWAT teams
This
is what martial law in the US looks like
Steve
Watson Infowars.com
April 22, 2013
Shocking
footage has emerged from Friday’s lockdown in Boston, where police, federal
agents, national guard troops and SWAT teams enforced door to door searches of
everyone’s home within twenty blocks as the entire city was placed under orders
to stay off the streets.
The
video, shot by a resident from their own house across the street, shows police
barking orders at men and women as they order them at gunpoint to identify
themselves, put their hands on their heads, and get out of their own home. They
are then ordered to run down the street to be further frisked by police as
scores of armed militarized cops look on.
---- The scenes look like something out of a disaster movie, with the backdrop of suburban America juxtaposed with what is essentially martial law playing out in full daylight.
The story
floated in the mainstream media that the door to door searches were conducted
with the voluntary consent of the residents of Watertown is clearly false.
9000+ Police locked down an entire city and went in with full force, with
armored vehicles and combat gear, all to search for an injured 19 year old kid
who turned out to be cowering in someone’s back yard.
While
armies of police roamed around people’s homes and private property, Public
transportation was shut down, businesses were forced to close, and a no-fly
zone was enacted over Boston in an unprecedented show of force.
At this
point, as military helicopters buzzed over neighborhoods, the Fourth Amendment
had ceased to exist in Boston, which quickly resembled a war zone.
More + video.
The monthly Coppock Indicators finished March:
DJIA: +119 Up. NASDAQ: +132 Up. SP500: +157 Up. Another Fed bubble, but now it’s challenged.
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