“Secret” NSA Map Shows Five Years Of Chinese Cyber Attacks

Back in May it was revealed that Chinese hacker spies had taken over the Penn State University engineering department.
No, really.
Here’s a recap:
“Penn State offers a potential treasure trove of technology that’s already being developed with partners for commercial applications. The breach suggests that foreign spies could be using universities as a backdoor to U. S. commercial and defense secrets. The hackers are so deeply embedded that the engineering college’s computer network will be taken offline for several days while investigators work to eject the intruders,” Bloomberg said at the time. The breach, which the school’s president called ‘an incredibly serious situation,” was allegedly perpetrated by “state-sponsored hackers” acting as “foreign spies” and was reportedly uncovered by the FBI late last year. After a lengthy investigation (which cost the university millions) school officials are now concerned that information from Penn State’s Applied Research Laboratory (which has worked with the US Navy for the better part of a century) may have been compromised in the operation.
And that would hardly be the end of it.
Two months later, China was also blamed for what Washington called the “largest theft of US government data ever” and just this week, the US said the same hackers responsible for stealing information on government employees had also breached American Airlines.

This post was published at Zero Hedge on 07/31/2015.

China Demonstrates “Sea Combat Ability” With Live Fire Drill Video

With China laser focused on propping up its manipulated markets, which over the course of the past month have become the laughing stock of “skeptics” everywhere for exposing just how rigged everything truly is (even as CNBC debates whether it is better to manipulate stocks via central bank QE or, as China is doing it, via direct buying of stocks), it is worth recalling that over the past year China has seen another, just a troublesome situation developing in the form of numerous territorial conflicts in the East and South China Seas primarily due to geopolitical bragging rights and natural resource claims.
As previously reported, China is currently pursuing a rapid program of artificial island construction in the South China Sea, despite being locked in disputes with several countries over its claims to almost the entire area.
And yet, even with Beijing focused on halting the market (and economic) carnage in recent weeks, the politburo found a way to remind its neighbors that China has no intention of allowing its domestic financial volatility derail its territorial expansion. It did so as part of a 10 day maritime training exercise which started last week, which culminating overnight when China’s navy carried out a “live firing drill” in the South China Sea to improve its maritime combat ability, state media has reported as tensions flare over the disputed waters.

This post was published at Zero Hedge on 07/29/2015.

Gold Jumps Despite Stronger Dollar As Grexit Gets Ever Nearer, Futures Flat

With equities having long ago stopped reflecting fundamentals, and certainly the Eurozone’s ever more dire newsflow where any day could be Greece’s last in the doomed monetary union, it was up to gold to reflect that headlines out of Athens are going from bad to worse, with Bloomberg reporting that not only are Greek banks running low on collateral, both for ELA and any other purposes, that Greece would have no choice but to leave the Euro upon a default and that, as reported previously, Greece would not have made its May 12 payment had it not been for using the IMF’s own reserves as a source of funding and that the IMF now sees June 5 as Greece’s ever more fluid D-day. As a result gold jumped above $1230 overnight, a level last seen in February even as the Dollar index was higher by 0.5% at last check thanks to a drop in the EUR and the JPY.
Over in commodities, Brent has extended gains into 2nd day amid heightened geopolitical tensions across Middle East, including resumption of Saudi-led air-strikes against Yemen Houthi because nobody could have possibly foreseen the “Ukrainization” of that particular ceasefire. Saudi air strikes in Yemen fall under rules of engagement, Houthi rebels moved missile launchers to border, says U. S. Sec. of State John Kerry. “Under the rules of engagement, it was always understood that, if there were proactive moves by one side or the other, then that would be in violation of the cease-fire agreement.’ says Kerry. Also of note: the previously noted Iranian aid ship is approaching Yemen’s coastline, raising the risk of a showdown with the Saudi-led military coalition that’s blockading Yemeni ports, battling Houthi rebels. Iran’s navy has vowed to protect vessel, the government said it won’t allow any nation involved in Yemen war to inspect cargo.
Looking at stocks, Asian equity markets trade mixed following Friday’s lacklustre Wall Street close, with IPO buying overshadowing demand for equities in the region, as BHP Billiton (-6.2%) declined the most since 2008 after spinoff South32’s debut, which pressured the ASX 200 (-1.33%). The Nikkei 225 ( 0.8%) rose amid JPY weakness and also further bolstered by strong earnings. Shanghai Comp ( 0.6%) opened negative as several IPO’s drained liquidity in the market to hit limit up. However, some of these losses were paired after Chinese Property Prices showed declines in fewer cities than prior.

This post was published at Zero Hedge on 05/18/2015.

China Says Back Off to US, Dems and Obama Fight Over Trade Deal, Gold & Rates Up

The following video was published by Greg Hunter on May 14, 2015
China believes the South China Sea belongs to them, but many other countries, including America, say it’s always been international waters. You can add this to the perfect storm of troubles the U. S. is facing, and this time, it is with our largest creditor.
Iran is threatening ships in the Persian Gulf again. The latest incident involved a Singapore-flagged tanker that the Iranian Navy fired warning shots at to try to steer it to their port. The tanker allegedly damaged an Iranian oil platform a while back. A U. S. spokesman claims Iran is using force to settle monetary and legal disputes. The U. S. Navy was escorting ships through the Persian Gulf, and there is no word on whether it will start doing that again.
The President has one heck of a fight going on over the Trans-Pacific Partnership (TPP) trade deal, but it’s not with Republicans. It’s with a large part of his own party. The President has shown his disdain for Democrats blocking the trade pact by saying they are uninformed and just playing politics. Senator Elizabeth Warren, who is a critic of the deal, says it is all being negotiated in secret, and if it is so good for America, then let’s see the details. Republicans think it will be a boost to commerce, but some Democrats, and also Libertarians of the Tea Party, worry that it will kill jobs and infringe on U. S. sovereignty.
In the economy, rising interest rates have spooked the bond market. Rates are up % in about the last three months or so. That doesn’t seem like a lot, but it is a big percentage increase when you consider the 10 year was around 1.7%, and now it’s around over 2.2%. Gold is also up on fears the bond market, and the collateral backing up trillions of dollars of derivatives and debt, could become impaired.

APRIL 30/GREECE STRUGGLES TO PAY ITS PENSIONERS/YOUTH UNEMPLOYMENT IN EUROPE STILL OVER 50%/USA NAVY TO ESCORT CARGO SHIPS THROUGH THE PERSIAN GULF IN FULL VIEW OF IRANIAN SHIPS/

Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1182.40 down $27.40 (comex closing time)
Silver: $16.13 down 55 cents (comex closing time)
In the access market 5:15 pm
Gold $1184.00
Silver: $16.13
Gold/silver trading: see kitco charts on the right side of the commentary.
Tuesday was options expiry on the comex. Today was options expiry on the LBMA and on the OTC market in London. The options on the OTC is far greater than on comex so the boys always whack on the first day notice which is the expiry for the big London options for the precious metals.
Following is a brief outline on gold and silver comex figures for today:
At the gold comex today, we had a poor delivery day, registering 0 notices served for nil oz. Silver comex filed with 1481 notices for 7,405,000 oz .
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 242.27 tonnes for a loss of 61 tonnes over that period. Lately the removals have been rising!
In silver, the open interest fell by 2,859 contracts despite the fact that Wednesday’s silver price was up by 12 cents. It sure looks like we had some short covering by the crooked bankers. Also lately it is the custom for OI to liquidate somewhat once we get into an active delivery month. The total silver OI continues to remain extremely high with today’s reading at 176,552 contracts maintaining itself at multi-year highs. The front April month is now off the board. We are now at multi year high in the total OI complex despite a record low price. This dichotomy has been happening now for quite a while and defies logic. There is no doubt that the silver situation is scaring our bankers to no end. The COT report on Friday in silver showed the commercials going long in silver in a big way and the large specs going short. Is a short squeeze coming?
In silver we had 1481 notices served upon for 7,405,000 oz.
In gold, the total comex gold OI rests tonight at 400,337 for a loss of 3226 contracts as gold was down by 3.80 yesterday. We had 0 notices served upon for 1200 oz.
Today, we no change in gold inventory at the GLD/ Gold Inventory rests at 739.06 tonnes.
In silver, / /we had a huge loss of 23.963 million oz of silver inventory to the SLV/ and thus the inventory tonight is 327.673 million oz
We have a few important stories to bring to your attention today…

This post was published at Harvey Organ Blog on April 30, 2015.

5 Reasons Why it Made Sense to Leave America.

The most common question I tend to get as an American expat is, ‘Why did you leave America?’ Here I hope to show you why it makes sense to leave your country. My hope is that this article will help educate and even give hope to those who are exploring a possible move abroad. It is OK if you do not agree with me. We all take different paths in life, this is mine.
Why I left the USA.- There comes a time in our lives when you reflect and think about what you have done and where you want to go in the limited time you have left. When I look back to 2010 my life was going nowhere fast. I was stuck in a dead end job and I saw no way to accomplish my dreams. It seemed nothing I did since leaving the US Navy in 1999 brought me fulfillment. This all culminated in my decision to expatriate. So here are my 5 reasons why it made sense to leave America.
The Rat Race- I tried going the path family and friends thought was best for me. I worked 5 years in healthcare, where my reward was stress and a breaking down body. I tried sales multiple times, where I excelled, but for every success it seemed the tax man was around the corner waiting for its share. I had a beautiful home that my parents helped me purchase for cash and remodeled. My home and a short stack of silver were my only physical assets after 18 years of work.
Every time a person would tell me, ‘Randy this is what you should do’, I would cringe. I would look at the lives other people were leading and I knew deep down that is not what I wanted. It seemed to me that everyone was on a hamster wheel paying their ever increasing debts. The question in my mind that kept popping up was, ‘should I leave America?’
The Tax Man- Then every year in April, hard working people like myself had to pay the government a large portion of our earnings. I had Federal Income Tax, New York State Income Tax, Monroe County Property Tax and on top of all that in New York we have an 8% sales tax, cell phone bill tax, gasoline tax, gas and electric tax and a myriad of other hidden taxes. All together my total tax bill approached 30% of what I brought home. I was angry!

This post was published at GoldSeek on 3 March 2015.

The Collective Delusion Of Grandeur Fades: Central Bank Inflationism Is Visibly On The Wane

Submitted by Sean Corrigan via True Sinews blog,
Regular readers of these pages (whether here or in the author’s previous professional incarnations) will recognise that the analysis is informed by a core belief that while money should never be confused with wealth – and that therefore the latter cannot be conjured up by the central bank like a rabbit from a magician’s hat, however much people might wish it were so – the former is anything but neutral in its effect upon the creation, the distribution, and even the destruction of said wealth.
A secondary, but still highly important distinction to which we insist it is necessary to hold fast is thatmoney – the supreme present good, the demand liability instantly and universally redeemable today at par, the generally dominant (if not absolutely exclusive) medium responsible for the smooth and efficient exchange of goods and services, the great enabling mechanism which obviates the need not just for barter, but for interpersonal trust among a transaction’s counterparties – is different from credit – which latter is actually a claim on money (and hence on the potential to acquire all other goods) only realisable in the future.
As Walter Boyd put it in his celebrated letter to PM William Pitt of 1801 in which he excoriated both the Bank of England’s wartime suspension of the convertibility of its issue and the ill-understood inflation to which it gave rise:-
‘By the words ‘Means of Circulation,’ ‘Circulating Medium’ and ‘Currency,’ which are used almost as synonymous terms in this letter, I understand always ready money, whether consisting of Bank Notes or Specie, in contradistinction to Bills of Exchange, Navy Bills, Exchequer Bills, or any other negotiable paper, which form no part of the circulating medium, as I have always understood the term. The latter is the Circulator; the former are merely objects of circulation.’

This post was published at Zero Hedge on 01/11/2015.