• Tag Archives Kim Jong Un
  • Gold Prices ‘Shed Crisis Premium’ as N.Korea’s Kim ‘Backs Down’ to ‘Foolish Yankees’

    Gold prices fell 1.4% in Asian and London trade Tuesday, erasing all of August’s prior gains as world stock markets rose for a second day amid reports of easing tensions between the US and North Korea after last week’s threats of nuclear missile strikes.
    As Washington’s Secretary of Defense James Mattis said it would be “game on” if Pyongyang attacked, the pariah state’s regime said it would wait and watch the next move from “the foolish Yankees” before sending “enveloping fire” at the US island and military base of Guam.
    “We are very…I’d say almost ecstatic that Kim Jong Un has backed off,” said Guam Homeland Security Advisor George Charfauros.
    Listen to Jeff Christian on Metals, Lithium, and Electric Vehicles
    “The yellow metal continued to see some of its recent risk premium wiped away during Asian hours today,” said Tuesday morning’s note from Swiss refiners and finance group MKS Pamp.

    This post was published at FinancialSense on 08/15/2017.


  • Better Investor Risk Appetite Fuels World Stock Markets Rallies

    World stock markets were mostly higher again Tuesday, on a further apparent de-escalation of the U. S. and North Korea stand-off regarding its nuclear missiles. North Korean news reports Tuesday said President Kim Jong Un has decided not to fire missiles at Guam. The U. S. secretary of defense and secretary of state, as well as other Trump administration officials, in recent days said they are trying to achieve denuclearization of North Korea through diplomacy. U. S. stock indexes are pointed toward higher openings when the New York day session begins.
    The safe-haven assets gold and U. S. Treasury bonds are seeing price pressure from the better risk appetite in the world marketplace so far this week. Gold prices are down about $11.00 an ounce in pre-U. S.-session trading Tuesday.

    This post was published at Wall Street Examiner on August 15, 2017.


  • Technical Scoop – Weekly Update: August 13, 2017

    It hardly seems much of a contest: the world’s most powerful nation both economically and militarily vs. one of the poorest nations on earth but with a strong, or at least large, military. So far, the war has been rhetorical as both sides though their respective leaders hurl superlatives at each other that usually end in one of them being engulfed in a ring of fire. The words, however, have unnerved global markets.
    This past week saw upwards of $1 trillion shaved from global stock markets triggered by Donald Trump’s and Kim Jong Un’s ongoing war of words. The last word has so far gone to Donald Trump who did his usual tweet, asserting that ‘military solutions are now in place, locked and loaded, should North Korea act unwisely.’ Earlier, North Korea had threatened to land a missile near the US Pacific territory of Guam in response to Trump’s promise to unleash ‘fire and fury.’ The world can only shudder at the thought of a nuclear exchange. But words are having an impact as stock markets ‘hurled’ and safe havens of Japanese Yen, Swiss Francs, US Treasuries, and German Bunds and gold jumped higher.
    US and global stock markets had been hurtling ever higher and valuations are near record. A correction was most likely overdue. The war of words and tensions over North Korea was the trigger. How deep the correction goes is anybody’s guess at the moment. Numerous pundits believe that the odds of actual war between the verbal combatants is low, but that a correction was probably overdue and this could result in a buying opportunity.
    The likelihood is that the rhetoric and war of words is liable to continue for some time. Even if North Korea were to launch more missiles into the sea, it most likely would up the ante and rattle markets further. An overvalued market and sabre rattling is a recipe for the correction. Inflation numbers released this past week were benign. As a result, the combination of the sabre rattling and a stumbling market could keep the Fed on the sidelines through the rest of the year. And that is not even getting into the looming fight over the budget, tax reform and the debt ceiling. Also, let’s not forget the ongoing investigation into the Trump campaign and the Russians being conducted by special counsel Robert Mueller.

    This post was published at GoldSeek on 13 August 2017.


  • Pat Buchanan Asks “Is The American Empire Worth The Price?”

    ‘When a man knows he is to be hanged in a fortnight,’ Samuel Johnson observed, ‘it concentrates his mind wonderfully.’
    And the prospect of a future where Kim Jong Un can put a nuclear weapon on a U. S. city is going to cause this nation to reassess the risks and rewards of the American Imperium.
    First, some history.
    ‘Why should Americans be first to die in any second Korean war?’ this writer asked in 1999 in ‘A Republic, Not an Empire.’
    ‘With twice the population of the North and twenty times its economic power, South Korea … is capable of manning its own defense. American troops on the DMZ should be replaced by South Koreans.’
    This was denounced as neo-isolationism.

    This post was published at Zero Hedge on Aug 11, 2017.


  • China Warns Trump: “We Will Prevent A North Korea Regime Change”

    In a troubling repudiation of President Donald Trump’s demands that Beijing do more to rein in its bellicose neighbor, Beijing, through the state-owned media, cautioned the US president on Friday that it would intervene (militarily) on North Korea’s behalf if the US and South Korea launch a preemptive strike to ‘overthrow the North Korean regime,’ according to a statement in the influential state-run newspaper Global Times.
    “If the U. S. and South Korea carry out strikes and try to overthrow the North Korean regime and change the political pattern of the Korean Peninsula, China will prevent them from doing so,” it said.
    At the same time, the Chinese regime made it clear that its preferred outcome would be a continuation of the status quo, warning Kim Jong Un that it would “remain neutral if North Korea were to strike first.” The article, cited by Rueters, reiterated calls for a diplomatic solution. However, the possibility of talks between the two sides was looking increasingly remote as both Trump and Kim continued to exchange threats of nuclear annihilation, with Trump clarifying Thursday that his earlier promise to respond with ‘fire and fury’ should the North continue to threaten the US may not have gone far enough.

    This post was published at Zero Hedge on Aug 11, 2017.


  • Gold Sees Safe Haven Gains On Trump ‘Fire and Fury’ Threat

    – Gold climbs amid rising risk on US and North Korea
    – Trump threatened North Korea with ‘fire and fury like the world has never seen’
    – North Korea says prepared to strike the US territory of Guam
    – North Korea said US exercise ‘proves that the U. S. imperialists are nuclear war maniacs’
    – Heated rhetoric likely to support gold for rest of the week
    – Russia and China poised to take advantage
    – Situation adds to uncertainty in an already uncertain world
    ***
    Gold provides certainty as US and North Korea go head-to-head
    Just a few months ago President Trump offered an olive branch of sorts to North Korean dictator Kim Jong Un. In a series of interviews Trump referred to Kim as a ‘pretty smart cookie’ and one who he would be ‘honoured’ to meet.
    Shortly after Kim Jong Un seemingly batted the olive branch away when he issued the following statement through state media, ‘… the most perfect weapon systems in the world will never become the eternal exclusive property of the U. S. … the U. S. should not … disregard or misjudge the reality that its mainland and Pacific operation region are in (North Korea’s) sighting range for strike.’

    This post was published at Gold Core on August 9, 2017.


  • Picturing An ‘America First’ Korea Policy

    Authored by Patrick Buchanan via Buchanan.org,
    ‘The North Korean regime is causing tremendous problems and is something that has to be dealt with, and probably dealt with rapidly.’ So President Trump told reporters in the Rose Garden this week.
    But how this is to be done ‘rapidly’ is not so easy to see.
    North Korea has just returned to us Otto Warmbier, a student sentenced to 15 years hard labor for stealing a propaganda poster. Otto came home comatose, and died within days.
    Trump’s conundrum: How to keep such a regime from acquiring an ICBM with a nuclear warhead, which Kim Jong Un is determined to do.

    This post was published at Zero Hedge on Jun 30, 2017.


  • The Trump-South Korea Meeting This Week Will Do Nothing to Stop Kim Jong Un

    The Trump-South Korea meeting this week won’t result in any concrete plan between the two world leaders for countering North Korea’s future threats.
    The cause of this anticipated Washington/Seoul standstill: starkly different policy approaches held by both world leaders – South Korea’s new commander in chief President Moon Jae-in and President Donald Trump.
    Here’s a look at those specific differences… and how a stalemate between Washington and Seoul will leave Pyongyang unrestrained in its ongoing weapons-testing…
    Moon Supports Diplomacy, and So Did Trump… Last Year
    Let’s start by examining South Korean President Moon Jae-in’s recent rise to power.
    Moon was elected on May 9 after running a slapdash campaign to replace South Korea’s disgraced, impeached President Park Geun-hye. He campaigned on taking a diplomatic approach to North Korea.
    Specifically, Moon touted reviving a limited version of the Sunshine Policy of Engagement – a policy that South Korea employed briefly in the early 2000s. The Sunshine Policy aimed to build trust between North and South Korea through investments, exchanges, and aid programs.
    This policy, however, ended in October 2006 when South Korea suspended aid shipments to Pyongyang, seemingly unprovoked.

    This post was published at Wall Street Examiner on June 27, 2017.


  • WTF Chart Of The Day: Korean Stocks Record High Edition

    In early 2016, when Kim Jong Un was hitting the headlines almost daily with threats (and missile tests), the Korean stock market tumbled reflexively as ‘risk’ was priced into equity markets.
    That is a very different picture to what is happening now.

    This post was published at Zero Hedge on May 1, 2017.


  • Trump Warns There Is A Chance Of “A Major, Major Conflict” With North Korea

    While emoting sympathy for Kim Jong Un’s situation, President Trump told Reuters, during a lengthy interview ahead of his 100th day in office, that he’d “love to solve things diplomatically,” but warned that “there is a chance that we could end up having a major, major conflict with North Korea.”

    This post was published at Zero Hedge on Apr 27, 2017.


  • Trump To Tell Xi: ‘If China Is Not Going To Solve North Korea, We Will”

    In an interview with the Financial Times coming less than a week ahead of his meeting with China’s president Xi Jinping in Mar A Lago (Xi, however, will not be staying at Trump’s “Winter palace” as the SCMP reports) Donald Trump has warned the US “will take unilateral action to eliminate the nuclear threat from North Korea unless China increases pressure on the regime in Pyongyang.”
    Among the key topics for discussion with Xi Jinping, the US president said he would focus on the growing threat from Kim Jong Un’s nuclear program when he hosts the Chinese president at his Florida resort this week in their first meeting.
    ‘China has great influence over North Korea. And China will either decide to help us with North Korea, or they won’t,’ Mr Trump said in the Oval Office. ‘If they do, that will be very good for China, and if they don’t, it won’t be good for anyone.’
    But he made clear that he would deal with North Korea with or without China’s help. Asked if he would consider a ‘grand bargain’ – where China pressures Pyongyang in exchange for a guarantee that the US would later remove troops from the Korean peninsula – Mr Trump said:
    ‘Well if China is not going to solve North Korea, we will. That is all I am telling you.’

    This post was published at Zero Hedge on Apr 2, 2017.


  • Brother Of Kim Jong Un Assassinated In Malaysia; US “Strongly Believes” North Korea Behind Murder

    Update: According to a U. S. government source speaking to Reuters, the U. S. strongly believes that North Korean agents murdered the estranged half-brother of North Korean leader Kim Jong Un in Malaysia. This, even though U. S. authorities have not yet determined exactly how Kim Jong Nam was killed, according to the source, who did not provide firm evidence to support the government’s conclusion.
    * * *
    Just two days after North Korea embarrassed both the US and Japan by test-firing a new, nuclear-capable ICBM with a 2000 mile range, with neither Trump nor Abe able to articulate a clear retaliation strategy, moments ago Yonhap news agency reported that the elder half-brother of North Korean leader Kim Jong Un has been assassinated at Kuala Lumpur airport.

    This post was published at Zero Hedge on Feb 14, 2017.


  • Brother Of Kim Jong Un Assassinated In Malaysia; US “Strong Believes” North Korea Behind The Murder

    Update: According to a U. S. government source speaking to Reuters, the U. S. strongly believes that North Korean agents murdered the estranged half-brother of North Korean leader Kim Jong Un in Malaysia. This, even though U. S. authorities have not yet determined exactly how Kim Jong Nam was killed, according to the source, who did not provide firm evidence to support the government’s conclusion.
    * * *
    Just two days after North Korea embarrassed both the US and Japan by test-firing a new, nuclear-capable ICBM with a 2000 mile range, with neither Trump nor Abe able to articulate a clear retaliation strategy, moments ago Yonhap news agency reported that the elder half-brother of North Korean leader Kim Jong Un has been assassinated at Kuala Lumpur airport.
    Kim Jong Nam, 45, who had lived outside North Korea for years, was reported to have been killed by poison needle by two women who fled the scene by taxi, the reports said.

    This post was published at Zero Hedge on Feb 14, 2017.


  • Brother Of North Korea’s Kim Jong Un Assassinated In Malaysia

    Just two days after North Korea embarrassed both the US and Japan by test-firing a new, nuclear-capable ICBM with a 2000 mile range, with neither Trump nor Abe able to articulate a clear retaliation strategy, moments ago Yonhap news agency reported that the elder half-brother of North Korean leader Kim Jong Un has been assassinated at Kuala Lumpur airport.
    ***
    Kim Jong Nam, 45, who had lived outside North Korea for years, was reported to have been killed by poison needle by two women who fled the scene by taxi, the reports said.
    He was once considered to be the heir to late North Korean leader Kim Jong Il but he fell out of favor with his father in 2001 after he was caught trying to enter Japan on a false passport, and was arrested at Tokyo airport, apparently en route to Disneyland. Kim Jong Nam had been critical of Kim Jong Un, reportedly saying in 2012 that he ‘won’t last long’ because of his youth and inexperience. The two brothers have different mothers, Bloomberg reports.

    This post was published at Zero Hedge on Feb 14, 2017.