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Monday, 10 March 2014

March 10, 2014: News Updates

Ukrainian gold reserves loaded on an unidentified transport aircraft in Kiev’s Borispol airport and flown to Uncle Sam’s vault

Tonight from "Borispol" in the U.S. strartoval plane with gold reserves of Ukraine

March 7/14- Google Translate:
Tonight from As our site workers airport "Borispol", this night in 2-00, with the designated airport runway started unregistered transport plane ... According to the staff "Boryspil", before it came to the airport four collector car and two cargo minibus Volkswagen, while , all arriving truck license plate missing. Car pulled out of about fifteen people in black uniforms, masks and body armor. Some of them were armed with machine guns. These people have downloaded the plane more than forty heavy boxes ... After that, some mysterious men arrived too entered the plane. All loading was carried out in a huge hurry. After unloading the car without license plates immediately left the runway, and the plane took off on an emergency basis ... Those who saw all this mysterious "special operation" airport officials immediately notified the administration of "Boryspil", from which received a strong recommendation "not to meddle in other people's affairs ..." Later, in Received call back one of the senior officials of the former Ministry of income and fees, which reported that, according to him, tonight, on the orders of one of the "new leaders" of Ukraine in the United States has been taken all the gold reserves in Ukraine ...

'I'll hang you by the balls and have you f***ed' – Ukrainian presidential hopeful abducts pro-Russian MP-

 March 10, 2014 18:30
A Ukrainian presidential hopeful and his supporters have abducted a regional MP over his opposition to the coup-imposed government in Kiev. A video of the action shows the MP being roughed up by a group of men and threatened.

Crimean city declares itself Russian

Sevastopol, home to Russian naval fleet, declares itself as part of Russia as Obama urges Vladimir Putin to seek a diplomatic solution to the crisis in Ukraine.

Fed's Chuck Evans Loses It

march 10/14
You really can't make this stuff up:

Did Charlie blow a fuse? Because he just said that the Fed will hold rates low, wants long-term rates low, but also wants to let the markets work, and wants inflation to raise long-term rates... Forward-guidance just lost another few points of credibility.

Saudi Arabia, Qatar declare war on Iraq: Maliki

Mon Mar 10, 2014 6:44PM GMT
Iraqi Prime Minister Nuri al-Maliki says Saudi Arabia and Qatar are openly declaring war on Iraq by supporting the militants in western Anbar Province.
Maliki said “they are attacking Iraq, through Syria and in a direct way, and they declared war on Iraq, as they declared it on Syria, and unfortunately it is on a sectarian and political basis.”
...The Iraqi prime minister slammed “the dangerous Saudi stance of supporting terrorism in the world – it supports it in Syria, Iraq, Lebanon, Egypt and Libya and even in countries outside the Arab world.”

Saudi Arabia rejects Maliki's charges on funding Iraqi militants

DUBAI Mon Mar 10, 2014 1:31pm EDT
(Reuters) - Saudi Arabia on Monday rejected accusations by Iraqi Prime Minister Nuri al-Maliki that Riyadh and Qatar are funding Sunni Muslim insurgents his troops are battling in Iraq's western Anbar province.

Saudi Arabia Threatens to Lay Siege to Qatar: Cooperation or Confrontation?

Posted: 03/09/2014 12:57 pm EDT Updated: 03/09/2014 2:59 pm EDT

Saudi Arabia has threatened to blockade its neighbouring Gulf State Qatar by land and sea unless it cuts ties with the Muslim Brotherhood, closes Al Jazeera, and expels local branches of two prestigious U.S. think tanks, the Brookings Doha Center and the Rand Qatar Policy Institute.
The threats against the television station Al Jazeera, Brookings Institute and the Rand Corporation, were made by the Saudi Foreign Minister Saud bin Faisal in a foreign minister's meeting of the Gulf Cooperation Council in Riyadh last week, according to a source who was present. Bin Faisal said only these acts would be sufficient if Qatar wanted to avoid "being punished."

Cyprus central bank governor resigns

NICOSIA Mon Mar 10, 2014 10:58am EDT
(Reuters) - Cypriot Central Bank governor Panicos Demetriades submitted his resignation on Monday, which was accepted by President Nicos Anastasiades, an official statement said.
The reason for his resignation was not immediately clear, but he has had testy relations with the center-right government, and Anastasiades had said in September he was seeking his removal. Demetriades has been in his post for almost two years.

Key Events In The Coming Week

march 10/14
This week brings a slew of central bank meetings: At the forefront will be the BOJ meeting on Tuesday where no changes to monetary policy are expected. However, we will be watching the commentary closely for hints to further monetary easing in the coming months. Goldman, and others, still expect the BOJ to provide additional stimulus in the second quarter of this year as the impact of the consumption tax hike on the economy becomes visible - it is that expectation that sent the USDJPY above 100 in late 2013 and any disappointment by the BOJ will certainly have an adverse impact on the all important Yen carry pair.

 SEC Said to Probe Whether Forex Rigging Distorted Options

By Keri Geiger and Silla Brush Mar 10, 2014 12:17 PM GMT+0100
The U.S. Securities and Exchange Commission is investigating whether currency traders at the world’s biggest banks distorted prices for options and exchange-traded funds by rigging benchmark foreign-exchange rates, according to two people with knowledge of the matter.

 Carney Faces Leadership Test as Currency Scandal Snares BOE

 Mar 10, 2014 11:14 AM GMT+0100
Bank of England Governor Mark Carney will face his toughest public testimony to date as he seeks to defend the integrity of an institution that’s become embroiled in the currency-manipulation scandal.
Lawmakers will grill Carney tomorrow after the BOE suspended an employee and released minutes of meetings showing officials knew of concerns the foreign-exchange market was being rigged almost eight years ago.

 Global Debt Exceeds $100 Trillion as Governments Binge, BIS Says

By John Glover Mar 9, 2014 12:00 PM GMT+0100
The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates, according to the Bank for International Settlements.

 Noyer Says Strong Euro Creates Unwarranted Economic Pressure

By Mark Deen Mar 10, 2014 3:30 PM GMT+0100
European Central Bank Governing Council member Christian Noyer said a strengthening euro creates unwarranted pressure on the euro-area economy.

Celebrating China's First Bond Default: Copper Limit Down, Yuan Crashes Most In Six Years


It would appear the fecal matter is starting to come into contact with the rotating object in China. Worrying headlines are beginning to mount on the back of real economic events (an actual default and a collapse in exports):


Aside from that Iron ore prices are crumbling, Asian stocks are dropping, Chinese corporate bond prices aee falling at their fastest pace in almost 4 months, and all this as 7-day repo drops to one-year lows (as banks hoard liquidity).

Iron Ore Prices Collapse Into Bear Market On China Credit Concerns

march 10 14
Iron Ore prices have dropped 25% since the end of last year, sending the key steel-making component into a bear market after slumping by over 9% overnight - its biggest daily drop on record. We warned last week this was likely to happen on the heels of Copper prices fell on monetary financing fears as we explained here how Iron Ore replaced copper as the collateral pool for new loans (following China's clampdown on cash-for-copper deals last year) and stockpiles hit record highs. What is further hurting the Iron ore prices are concerns over China's new anti-pollution reforms which are set to close thousands of furnaces.

Canada imposing travel ban on those it blames for Ukraine crisis

Fri Mar 7, 2014 12:43pm EST
OTTAWA (Reuters) - Canada will impose a travel ban on the people it blames for the Ukraine crisis, Prime Minister Stephen Harper said on Friday, without giving specific names.

Abenomics Crucified With Lowest GDP Since Abe, Worst Current Account Deficit On Record

march 9/14
"It's the weather" That's all Abe has left to pretend that 'recovery' is right around the corner. Japan just printed its worst current account deficit on record and its worst GDP growth since Abenomics was unveiled - both missing by the proverbial garden mile and both confirming that all is not well in Asia. As for the perpetual hope of a J-curve (or miracle hockey-stick reversal)? There won't be one! As Patrick Barron noted, "monetary debasement does not result in an economic recovery, because no nation can force another to pay for its recovery."

Edinburgh accuses UK of hushing up British nuclear leak on Scottish territory

Published time: March 10, 2014 10:37
The British government has “disrespected” Scotland by keeping quiet about a nuclear leak at a Scottish-based reactor for two years, believes nationalist minister, Alex Salmond, all at a time of high tensions ahead of a referendum on independence.

Spooking the spooks: US surveillance system to muzzle rogue agents and leakers

Published time: March 10, 2014 14:07
US intelligence plans to introduce a massive system of internal surveillance by electronically monitoring the behavior of up to 5 million federal employees with secret clearances, current and former officials told the Associated Press.
The computerized system would provide continuous monitoring of financial and other databases of government employees, according to officials and documents reviewed by the AP. Speaking before Congress in February, Director of National Intelligence James Clapper said the proposed system would extend "across the government," drawing on "six or seven data streams."

Kim Jong-un scores unanimous poll victory

North Korean leader Kim Jong-un elected to the country's rubber-stamp parliament with a unanimous vote from his district.
10 March 2014, 9:46am

Report: Oklahoma's Most Powerful Earthquake Cause Determined

Published: March 9, 2014
One of Oklahoma's biggest man-made earthquakes, caused by fracking-linked wastewater injection, triggered an earthquake cascade that led to the damaging magnitude-5.7 Prague quake that struck on Nov. 6, 2011, a new study confirms.


Thousands Attend Nuclear Power Protest in Tokyo Japan Ahead of Fukushima Anniversary

World-Wide, Women Rally To Smash Patriarchy And Exploitation