The Anti-Imperialist League and the Battle Against Empire

In April 1898 the United States went to war with Spain for the stated purpose of liberating Cuba from Spanish control. Several months later, when the war had ended, Cuba had been transformed into an American protectorate, and Puerto Rico, Guam, and the Philippines had become American possessions.
When the US government decided not to grant independence to the Philippines, Filipino rebels led by Emilio Aguinaldo determined to resist American occupying forces. The result was a brutal guerrilla war that stretched on for years. Some 200,000 Filipinos lost their lives, either directly from the fighting or as a result of a cholera epidemic traceable to the war.
That American forces were engaged in a colonial war to suppress another people’s independence led to a great deal of soul-searching among important American thinkers, writers, and journalists. What eventually became the American Anti-Imperialist League began at a June 1898 meeting at Boston’s Faneuil Hall, where people concerned about the colonial policy that the US government may choose to adopt in the wake of the war gathered to speak out against the transformation of the United States into an imperial power. The League was formally established that November, dedicating its energies to propagating the anti-imperialist message by means of lectures, public meetings, and the printed word.
Those who later became anti-imperialists could be found both among supporters and opponents of the Spanish-American War of 1898. William Jennings Bryan was a good example of the former, and Moorfield Storey of the latter. It is on this latter group of anti-imperialists that I wish to dwell for a moment, since what they had to say about war is liable to sound eerily familiar.

This post was published at Ludwig von Mises Institute on Dec 27, 2017.

Asian Stocks Slide On iPhone X Demand Fears; US Futures Flat In Thin Holiday Trading

For the second day in a row, most Asian markets – at least the ones that are open – were dragged lower by tech stocks and Apple suppliers, with the MSCI Asia Pacific Index down 0.2% led by Samsung Electronics and Taiwan Semiconductor Manufacturing in response to the previously noted report that Apple will slash Q1 sales forecasts for iPhone X sales by 40% from 50 million to 30 million. Most Asian equity benchmarks fell except those in China. European stocks were mixed in a quiet session while U. S. equity futures are little changed as markets reopen after the Christmas holiday.
Away from Asia, stocks remained closed across the large European markets, as well as in parts of Asia including Australia, Hong Kong, Indonesia, the Philippines and New Zealand. Japanese benchmarks slipped from the highest levels since the early 1990s, helping to pull the MSCI Asia Pacific Index down, while shares in Dubai, Qatar and Russia were among the big losers in emerging markets. S&P 500 futures were flat as those for the Dow Jones slipped. The euro edged lower with the pound – although there were no reverberations from Monday’s odd EURUSD flash crash which was only observed on Bloomberg feeds, while Reuters ignored it even if the FT did note it…

This post was published at Zero Hedge on Dec 26, 2017.

Considering Faking Your Own Death? Then The Philippines Is The Place For You

The technical term is pseudocide – a fancy word that means, essentially, ‘faking your own death.”
Hundreds of thousands of Americans – some struggling with seemingly insurmountable debt burdens or are being hounded by the IRS after stiffing the tax man – have probably fantasized about faking their own deaths. But few understand just how easy it is to – um – execute such an ambitious, if legally precarious, plan.
That’s where purveyors of so-called ‘death kits’ come in. Few westerners are aware of its existence, but there’s actually a thriving cottage industry based in the Philippines, where investors can purchase all the tools they need to fake their own deaths for the surprisingly low price of about 350 pounds (about $500).
Of course, the scheme has several macabre elements. The process involves buying an unclaimed corpse from one of the many morgues in the Philippines where the bodies of John and Jane Does are stored.
According to the Telegraph, many customers who choose this route are desperate Wall Street bankers seeking to escape debt, and men having affairs who want to leave their families.

This post was published at Zero Hedge on Dec 21, 2017.

The Limits of China’s Economic Power

The countries of East Asia are worried about the coercive power of Beijing’s pocketbook. And perhaps they should be. China is flush with money, and as it continues to pour massive amounts of aid and investment into the region, it’s only a matter of time before Beijing tries to cash in.
China’s overseas investments are being pushed, at least in part, for strategic reasons. This is evident in the high number of projects included in China’s One Belt, One Road initiative that make little commercial sense and fail to perform their stated purpose: to bypass chokepoints that a hostile power could use to asphyxiate the Chinese. In areas such as the Philippines, the primary goal appears to be the cultivation of political influence in foreign capitals or, more cynically, the creation of dependence on Chinese investment or consumers, which Beijing could someday exploit.

This post was published at Mauldin Economics on DECEMBER 18, 2017.

Asian Metals Market Update: October-27-2017

European central bank chief taper comments and Spain let down the euro. Technical picture is bearish for gold and silver. Reuters survey says that most of the analysts have reduced their gold and silver forecast for next year. I am not changing my bullish views on gold and silver for next year. This year gold and silver are mainly supported by geopolitical risk. Next year I expect the South China Sea and Korean peninsula to turn into the Persian Gulf. Even if Asian demand falters next year, European demand for gold will lend support to prices. The Middle East did not turn into a war zone overnight. Events in the South China sea will move towards bad and worse. Americans will try for a regime change in the Philippines. Duterte could be removed by the American as he bents more towards the Russian and Chinese. Most of the gold bears believe that a higher global interest rate cycle will prevent gold and silver prices from a rise. The pace of rise of global interest rates will be slow next year which should cause gold bears to retreat. Trump policies will be to placate Americans before US Senate elections in around a years’ time. America people are war mongers. Wars wins elections in the current global democratic system. America will fight more wars next year than this year. Fundamentally also, global debt is at a historical high. This global debt bubble can burst anytime.

This post was published at GoldSeek on 27 October 2017.

Gamblers Laundered $50M In Stolen Bangladesh Reserves For “Elite North Korean Hackers” By Playing Baccarat

More than a year after a mysterious group of hackers infiltrated the SWIFT system for interbank payments and stole $100 million from the Central Bank of Bangladesh’s custody account at the New York Fed, Filipino authorities have been unable to recover $81 million that seemingly disappeared into the Manila air.
After being transferred to four accounts set up with fake credentials at the Jupiter Street Makati City, branch of Rizal Commercial Banking Corp (RCBC) in the Philippines, the money eventually found its way to an FX broker called Philrem, which split $50 million between two casinos and the remaining $31 million was delivered to a ‘Weikang Xu’ in cash.
Not much is known about what happened to the $31 million after it was moved to Manila. But after receiving unreleased documents from the Philippines Senate investigation, Bloomberg has published the most comprehensive account to date explaining how two casino junket operators helped launder $50 million in the VIP rooms of Manila’s casinos by betting on games of Baccarat.
According to Bloomberg’s anonymous sources, North Korea and its ‘elite’ hacking squad ‘the Lazarus Group’ are believed to be behind what was the largest cyberheist in history.

This post was published at Zero Hedge on Aug 4, 2017.

Asian Metals Market Update: July-18-2017

Lack of news resulted in a weaker US dollar and the continued rise in metals and energies. Trump and his never ending controversies implies stalemate among US lawmakers to pass new legislation. Only war legislations have been passed by republicans. Global safe haven demand has been on the rise. The internet is filled with speculation that the Russia-China energy deal will result in an end to the petrodollar. Tensions in the South China Sea and a NATO expansion in eastern Europe will increase in all kinds of trade between Russia and China. We might see a new cold war3 with Russia-China on one side and NATO and its allies on the other. NATO has used trade sanctions first to alienate a nation and if trade sanctions did not work, then use force or create an armed rebellion in that nation. NATO’s tried and tested ways to rule will not work with the Russia-China axis. Russian and Chinese governments have been continuously increasing their gold reserves. One needs to closely watch NATO’s tactics with the Russia-China axis. The Taliban, the Islamic state, the mujahedeen’s, one can call by whatever name are all termites created by NATO for an opposing nation. Philippines great leader Duterte opposed NATO and the Islamic state terror has been unleashed to him. No one is invincible. I believe that the controlling power of NATO will fall over the coming years. Physical gold is still not a bad very long term investment.

This post was published at GoldSeek on 18 July 2017.

The foreign business incentives in this country can help double your income.

Yesterday I spent all afternoon meeting with government officials here in the Philippines, and I’m still in shock. I’ll explain –
About a year and a half ago I purchased a fairly large manufacturing business that is oddly enough based in Australia.
It’s been a fantastic investment so far, primarily because it generates so much cashflow relative to the price I paid.
With big public companies listed on a major stock market, it’s not uncommon to pay 20x, 50x, even more than 100x a company’s annual profits.
For example, as I write to you early in the morning here in Manila right now, Amazon’s stock sells for 180x its annual profits.
In other words, if you were theoretically to acquire 100% of Amazon’s shares, at current levels it would take you 180 years to recoup your investment.
(This presumes you put all the profits in your pocket, but doesn’t account for the effects of dividend taxation.)
Obviously most investors expect Amazon to keep growing.
But even if Amazon’s earnings were to grow at an annual rate of 25% per year (which would be unprecedented), it would still take almost two decades to recoup your investment.

This post was published at Sovereign Man on June 16, 2017.


GOLD: $1267.00 down $5.00
Silver: $17.24 down 13 cent(s)
Closing access prices:
Gold $1265.60
silver: $17.33
Premium of Shanghai 2nd fix/NY:$7.41
LONDON FIRST GOLD FIX: 5:30 am est $1266.55
For comex gold:
TOTAL NOTICES SO FAR: 1116 FOR 111,600 OZ (3.4712TONNES)
For silver:
For silver: MAY
Total number of notices filed so far this month: 55 for 275,000 oz

This post was published at Harvey Organ Blog on June 1, 2017.

Asian Metals Market Update: June-01-2017

Factors which can affect markets
There are a lot of economic data releases today. There is even the US weekly crude oil inventory today. The next two days are make or break days for metals and energies. Either they rise or there will be a big crash.
In June the factors that I will be looking at are: (a) The impact of May nonfarm payrolls on US interest rate hikes for the rest of the year (b) UK elections. A bad performance by Ms. Theresa May can result in zooming of gold prices on safe haven demand and vice-versa. (c) The situation in Philippines should never be ignored due to its strategic location. If the war with ISIS in Philippines spreads to some geographical area in the nation, gold prices will be positively affected. (d) Direction of bitcoin will also affect gold prices.

This post was published at GoldSeek on 1 June 2017.

Asian Metals Market Update: May-29-2017

It is a big week for the US dollar as well as gold, silver and industrial metals. US May nonfarm payrolls will set the trend for the US dollar and also decide whether there will be more than one interest rate hike by the Federal Reserve this year. UK elections trends can result in safe haven demand for gold from the nation. India will decide the GST rate on gold sales and jewelry sales this week too.
Geopolitics gets a new nation in the form of Philippines. State versus ISIS war in a small region of the nation will greater chances of the same spreading to more parts of Philippines. The current situation in Philippines is similar to Syria of 2012. Assad’s war started with a small bunch of so called terrorists which has gulped the whole nation. I will be looking for clues whether Philippines will be converted into a Syria as state heads of both these nations do not bow to the whims and fancies of NATO leaders. (NATO and the UN have a history of ousting pro people leaders like Gadaffi, Assad, Hosni Mubarak to name a few). I am very confident that both gold and bitcoins will benefit if the situation in the Philippines turn to worse.
Philippines problems get aggravated by its neighbor, the most populous Islamic nation in the world ‘Indonesia’ and also Malaysia. Indonesia and Malaysia have a great percentage of population leaning towards the ISIS. The peaceful nation of Australia will also get affected if Philippines problems get aggravated. I am looking at the geopolitical developments in East Asia including the South China Sea.

This post was published at GoldSeek on 29 May 2017.

Global Stocks, US Futures Rise On First Day Of Q2 As Trump-Xi Meeting Looms

After the best quarter for US stocks since 2015, global equities have started off Q2 on the right foot, despite caution about the upcoming meeting between President Trump and China’s Xi Jinping later this week, and Fed Minutes which are expected to be more hawkish than the FOMC statement.
European shares opened broadly higher, with Europe’s Stoxx 600 rising 0.3% – its 5th day of gains – following a rally in Asian markets on upbeat final PMI data and after a report that Chinese President Xi Jinping will create a new economic zone. S&P futures were modestly in the green, pointing to a higher open for the S&P on the first day of the new quarter.
Mostly positive mfg PMIs out of Asia:
Vietnam 54.6
Philippines 53.8
Japan 52.6
Korea 52.4
Indonesia 50.5
Thailand 50.2
Malaysia 49.5
— David Ingles (@DavidInglesTV) April 3, 2017

This post was published at Zero Hedge on Apr 3, 2017.

‘Anonymous’ Joins Hacker Crusade To Steal Millions From Global Central Banks

Roughly a year ago we wrote about perhaps the most notable bank heist in history in which a group of hackers used Swift, the interbank messaging system, to steal $81 million from the Central Bank of Bangladesh. Here’s our recap:
For those who missed the story, you can review it in all its James Bond-ish glory in the four posts linked below, but here is a brief summary of what happened to the $81 million: 1) it was transferred to four accounts at the Jupiter Street, Makati City, branch of Rizal Commercial Banking Corp (RCBC) in the Philippines, 2) $470,000 in cash went into the branch manager’s trunk and the rest went to a possibly forged (but possibly not) account registered to one William Go, 3) the money was transferred to an FX broker called Philrem, 4) $50 million was split between two casinos and the remaining $31 was delivered to a “Weikang Xu” in cash. From there, the trail goes cold.
Plot Thickens In New York Fed Heist As $30 Million In Cash Said Delivered To Mystery Chinese Man The Incredible Story Of How Hackers Stole $100 Million From The New York Fed Chinese Hackers Break Into NY Fed, Steal $100 Million From Bangladesh Central Bank Mystery Of New York Fed Robbery Has Central Banks Asking Who’s Next But Bangladesh isn’t the only country whose Central Bank has been targeted by a growing number of hackers seeking to score a quick, and massive, loot. As Bloomberg notes, hacks on globa

This post was published at Zero Hedge on Mar 17, 2017.

Philippine minister stands by call to shut mines as review begins

The Philippines’ environment minister said on Monday she stands by her decision to shut more than half the country’s operating mines and bar mining in watershed zones as an inter-agency panel began a review of her actions.
Members of the government’s Mining Industry Coordinating Council will scrutinize the affected mines to ensure due process was followed and consider the impact on jobs and the economy after an outcry by the mining industry in the world’s top nickel ore supplier. The review could take three months.
The council cannot overturn her orders, but its findings could feed into a decision by President Rodrigo Duterte, who has said he will review the planned closures after initially throwing his support behind his environment minister.
“My stand on no mining in watersheds is staunch,” Environment and Natural Resources Secretary Regina Lopez told Reuters by phone. “It’s madness to do any kind of extractive industry in areas which are the source of the water supply of the island.”

This post was published at Yahoo

Chinese Carrier Sails By Taiwan, Enters Contested South China Sea

Two days after China demonstratively showed off a live-fire exercise involving its one and only aircraft carrier, the Liaoning, in the Yellow Sea, with the Defense Ministry hinting that the carrier would next sail to the South China Sea after announcing that “as a next step it will conduct scheduled cross-sea training and tests,” Beijing did just that and as Reuters reports, a group of Chinese warships led by the country’s sole aircraft carrier passed south of Taiwan on Monday, and entered the top half of the South China Sea, in what China has termed a routine exercise.
Taiwan’s Defense Ministry said the carrier, accompanied by five vessels, passed southeast of the Pratas Islands, which are controlled by Taiwan, heading southwest. The carrier group earlier passed 90 nautical miles south of Taiwan’s southernmost point via the Bashi Channel, between Taiwan and the Philippines. The Liaoning and five escorts sailed 20 nautical miles outside Taiwan’s air defence identification zone (ADIZ) in the Bashi Channel between Taiwan and the Philippines on Sunday, the defense ministry said.

This post was published at Zero Hedge on Dec 26, 2016.

Against China, Vietnam Stands Alone

Vietnam will pursue its island reclamation projects and defense partnerships more discreetly to avoid directly challenging China. Despite Vietnam’s efforts to connect with global markets, its reliance on imports of raw materials and incomplete industrial chains may mean that such integration could damage its export-oriented economy in the long run. Rising protectionism in the developed world will hamper Vietnam’s attempts to overcome its structural economic flaws, rising debt, and inefficient state-owned enterprises. Analysis
The balance of power in Southeast Asia has been quietly shifting in China’s favor, and perhaps no country feels it more than Vietnam. In the span of a few months, Hanoi – once the staunchest advocate for the Trans-Pacific Partnership (TPP) – became the first participant to shelve the trade pact, well before US President-elect Donald Trump announced his intention to withdraw from it. At the same time, Vietnam softened its criticisms of China and took steps to mend ties with Beijing. Rather than positioning itself squarely in China’s crosshairs, Hanoi began a more subtle pursuit of its maritime claims and alliances with stronger partners, keeping its options open and its defenses ready.
More so than most of its neighbors, Vietnam can neither fully reject nor embrace the growing power on its northern border. Some, such as the Philippines and Malaysia, have eagerly joined Chinese-led trade blocs and dispute-settling mechanisms. Others, like Japan and Singapore, have firmly backed Washington’s regional agenda. Vietnam has historically opted to strike a delicate balance between the two, but as the region adjusts to a new political reality, Hanoi’s strategy is becoming increasingly difficult to pull off.

This post was published at FinancialSense on 12/22/2016.

Central Banker Sees “Scary” 2017

Barron’s Asia: When you look ahead to 2017, what keeps you awake at night?
Amando Tetangco: Short term, the Fed rate hikes — the timing and the magnitude. Of course, this would be related to the policies that the new U. S. administration will adopt. Medium-to-long term, the retreat from multi-lateralism. That is related to the performance of the global economy – the major and various economies, and emerging markets like China.
‘Scary stuff” – that’s not the kind of utterance one would expect to hear from a central banker, but in this interview posted on Barron’s Asia with Amando Tetangco of the Philippines, “scary” is just how the central banker defines the increasingly chaotic global environment. Between Donald Trump’s shock election, Brexit, Italians showing their prime minister the door and fallout from quantitative-easing programs, 2016 has been an unusually unruly year. Will 2017 be a kinder, gentler one? Sadly no, says the governor of Bangko Sentral ng Pilipinas.

This post was published at Zero Hedge on Dec 16, 2016.

Some Of The World’s Best Investors Are Putting Their Money In An Unexpected Place

A curious group of markets – India, Indonesia, The Philippines and Vietnam – have been identified as the best investing opportunities by a group of leading Asia macro strategists, who think that Asia and the emerging markets will considerably outperform the developed world.
While everyone is focused on the US Presidential election, Real Vision TV recently brought together some Asian market experts, to explain why they have recently turned bullish on the region and why institutional money has been underweight the Asian markets for the past five years. A video compilation of the highlights is shown below:
It features some diverse views around the common theme that there are some good opportunities for investors to get in now ahead of the curve. One common theme in the conversations is that investment flows are set to take off in the region, sparked by positive demographic and infrastructure stories, alongside political reform for growth.
Underweight Emerging Market Positions Slam into Reverse
Asia hedge fund heavyweight Paul Krake, who worked for Goldman Sachs Asia and managed for Moore Capital and Caxton Associates, before setting up his own macro hedge fund and independent research ‘View from the Peak’, said that these underweight positions are now being reversed as a number of pension fund RFPs for large emerging market mandates are being seen all over the place.

This post was published at Zero Hedge on Oct 7, 2016.

Asian Metals Market Update: October-4-2016

Gold and silver once again seem to be manipulated by the NATO central banks. The second era of global cold war has begun. USA and Russia have severed ties. Russia is making friends with more and more nations which were earlier the domicile of Americans. The best example is Russia trying to forge closer ties with Pakistan. The new president of Philippines wants to be friends with Russia and China and ignore the American dictats. Europe is in my view is just a few years away from a big civil war. American control of Europe is falling and will be negligible by the end of the decade. The Arab invasion of Europe is changing everything.
Changes in global society and new cartel among nations will ensure that gold moves away from then NATO manipulation. However it is difficult to tell the timeframe. Global central banks are ensuring that retail investors just get glued to interest rate factors and is one of the key reason why gold is falling. I have my doubts over sustainability of American hiring numbers. When it will seem that a top has been formed in American jobs creation gold and other safe havens will zoom.
Movement will be two way. Technically gold and silver are still bearish. Gold needs to trade over $1296 till Friday to be in a bullish zone. Silver needs to trade over $1830 for the rest of the month to prevent it from moving into a medium term bearish phase. Crude oil is at an infection point where it either breaks $53 in the next two weeks or it will breakdown to $37.60.

This post was published at GoldSeek on 4 October 2016.

U.S. flies nuclear strategic bombers over South Korea in stark warning to North Korea

September 2016 – SOUTH KOREA – Two U. S. supersonic B-1 Lancer strategic bombers flew over South Korea on Tuesday morning in a show of force and solidarity with its ally amid heightened tension following North Korea’s fifth nuclear test on Friday.
The two bombers conducted a low-altitude flight over Osan Air Base in South Korea, which is 77 km (48 miles) from the Demilitarized Zone border with the North and about 40 km (miles) from the South’s capital Seoul. The scheduled fly-over was delayed from Monday due to weather conditions in Guam, where the bombers are stationed. South Korea’s Yonhap news agency said heavy crosswinds prevented the jets from take off. -Reuters
Philippines president tell U. S. Special Forces to leave: President Rodrigo Duterte on Monday called for the withdrawal of U. S. Special Forces troops from a group of islands in the southern Philippines, saying their presence could complicate offensives against Islamist militants notorious for beheading Westerners.

This post was published at UtopiatheCollapse on September 13, 2016.