Alternative News

Swiss Gold Repatriation Almost Reality

"Today, almost one year later we have 90000 supporters for this initiative. Once the 100000 supporters is reached, we are certain that the Swiss National Bank will repatriate their gold holdings. I'm sure those 10000 votes will be reached by March 2013. The SNB hasn't said where its gold is and also hasn't said if it will repatriate their gold all at once, but if they were to repatriate it all at once, it would be almost double the amount that Germany is now repatriating over 7 years: namely 674 tonnes of gold. Other countries who want their gold back are: Ecuador (26 tonnes), The Netherlands (613 tonnes)." Continue reading →

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India hikes import tax on gold by 50%

"India raised the import tax on gold to 6% from 4%, a senior finance ministry official said, as the world's top gold buyer aimed to curb purchases and rein in its ballooning current account deficit. India's passion for gold, seen by many as a hedge against persistently high inflation, has contributed to a rise in its current account deficit, which reached an all-time high of 5.4 percent of GDP in the July-September quarter. The shortfall has increased India's need for foreign capital inflows and evoked memories of the 1991 balance of payments crisis, when the central bank sent 47 tonnes of gold to Europe as collateral for a loan to avert a sovereign default." Continue reading →

Continue ReadingIndia hikes import tax on gold by 50%

LBMA, IGE urged to end Iran-Turkey Gold trade

"Turkey is facing more pressure from global communities to end it's gold-for-gas dealings with Iran. The latest to join the fray is United Against Nuclear Iran (UANI), which launched its Turkey gold campaign, and called on both the London Bullion Market Association (LBMA) and Istanbul Gold Exchange (IGE) to enact new measures to combat illicit barter agreements, where Iranian crude oil is being exchanged for Turkish gold. Specifically, UANI is calling for the LBMA to require all of its members, particularly the IGE, to certify that the recipient of their gold products is not Iran. The LBMA should revoke the membership of any member that is unable to do so." Continue reading →

Continue ReadingLBMA, IGE urged to end Iran-Turkey Gold trade

How The Central Bank Of Turkey Uses Gold

"Amid the brouhaha over Germany's gold reserves at the Bundesbank, there's another central bank using gold actively to bolster its currency and financial stability. The strategy looks the same – sitting on big stockpiles of the stuff. But the aim differs, because gold is much closer to the everyday financial system. Starting in October 2011, the central bank began allowing commercial banks to hold a portion of their 'required reserves' – needed to reassure depositors and other creditors they had plenty of money to hand – in physical gold bullion. Starting at 10%, that proportion was then raised to 30%." Continue reading →

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Is The ECB Responsible For The Second Coming Of Bitcoin?

"Why the ECB suddenly felt threatened so much by Bitcoin, it felt an imperative to issue a 55 page paper decrying such electronic currencies we will never know. What we do know, however, courtesy of a reminder by Bloomberg's Max Raskin, is that since the publication of said paper, the value of Bitcoin as tracked by the Mtgox exchange, has soared some 40% in just under three months, from a 'fiat equivalent value' of $13 to a most recent closing price of $18.50, and has doubled in the past 12 months alone." Continue reading →

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IRS: Cheapest Obamacare Plan Will Cost $20,000 per Family by 2016

"The Internal Revenue Service issued a report Wednesday in which it estimated that under Obamacare, the least expensive health insurance plan available to a family in 2016 would cost $20,000 annually according to CNSNews.com. Under the Patient Protection and Affordable Care Act all U.S. citizens are required to have health insurance, either through their employer or by purchasing it directly from the government. Individuals who don't have it by 2016 face a penalty amounting to either 2.5 percent of a person's taxable income or approximately $2,000 per family, depending on their income." Continue reading →

Continue ReadingIRS: Cheapest Obamacare Plan Will Cost $20,000 per Family by 2016

Biden Lies about Gun Control, Of Course

"Vice President Joe Biden insists that private ownership of so-called assault weapons should be forbidden because police 'are outgunned on the street by the bad guys and the proliferation of these weapons.' In fact, duty-related deaths of police officers declined in 2012 as compared to the previous year, continuing a decades-long trend. And there wasn’t a single instance in which a police officer was killed by someone using a so-called assault weapon. Many – if not most – of the so-called assault weapons used in crime are stolen from the police. Yet the government continues to send military-grade weaponry to local police departments." Continue reading →

Continue ReadingBiden Lies about Gun Control, Of Course

Biden Lies about Gun Control, Of Course

"Vice President Joe Biden insists that private ownership of so-called assault weapons should be forbidden because police 'are outgunned on the street by the bad guys and the proliferation of these weapons.' In fact, duty-related deaths of police officers declined in 2012 as compared to the previous year, continuing a decades-long trend. And there wasn’t a single instance in which a police officer was killed by someone using a so-called assault weapon. Many – if not most – of the so-called assault weapons used in crime are stolen from the police. Yet the government continues to send military-grade weaponry to local police departments." Continue reading →

Continue ReadingBiden Lies about Gun Control, Of Course