Tag Archives: Asia

Chinese Soldiers March Into Indian Territory, Pitch Tents, Declare Land For China

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“An equally plausible explanation is that ambiguity and an unwillingness to retreat was the cause of all the fuss. Troops from both the Chinese and Indian militaries cross the unmarked border on a regular basis, sometimes unaware of having done so. ‘This sort of situation happens easily because the two sides have different understandings of the Line of Actual Control,’ said Zhang Li, a professor at Sichuan University.  Indian politicians disagree, saying that Chinese troops deliberately crossed into Indian territory and have since refused to leave. The government has promised to defend Indian interests, while opposition parties accuse it of cowardice and inaction.”

http://www.businessinsider.com/china-and-india-at-each-others-throats-2013-5

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India central bank introduces more policies to curb gold imports

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“India’s central bank announced more stringent measures for gold imports by banks in it’s annual monetary statement. Analysts said the move is likely to impact country’s gold imports this year. The central bank said banks will be allowed to import bullion on a consignment basis to meet only genuine needs of exporters of gold jewelry. RBI will issue detailed guidelines on gold imports by authorized banks by the end of this month after it sees banks also import gold on an unfixed price basis and loan basis, according to the central bank.”

http://www.bullionstreet.com/news/rbi-policies-to-curb-india-gold-imports/4662

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The Market Shall Set North Korea Free

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“Today, when North Koreans are ordered by their state employer to take part in political activities, they know their time is being wasted. Fewer North Koreans show up for their state jobs. This growing economic and psychological independence among regular people is becoming the greatest thorn in the regime’s side.  It is also the key to change. Instead of focusing on the regime and its agents as possible instigators of reform, we must recognize the power of the flourishing marketplace to slowly but definitively transform North Korea from the bottom up.”

http://www.nytimes.com/2013/04/27/opinion/global/The-Market-Shall-Set-North-Korea-Free.html?_r=0&pagewanted=all

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Indian gold smugglers take body route to outwit customs

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“Smugglers and couriers who bring gold into the country illegally, have usually been known to bring the commodity by hiding it outside their body through various means. But with air intelligence units of the customs wising up to myriad modes of concealment, smugglers have resorted to reshaping gold to get it through. In Monday’s incident two men who arrived from Sri Lanka at the airport had shaped crude gold bits to fit inside the base of their mouth under the tongue.  In another incident, a buxom lady was arrested after sleuths found that her bosom appeared extra-large as she had sewn 4 kg of shaped gold into her brassiere.”

http://newindianexpress.com/cities/chennai/article1528119.ece

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Slump in gold price releases years of pent-up retail demand

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“Gold retailers struggled to cope this week as parents buying dowries, casual shoppers and tourists snapped up bars, coins, nuggets and jewellery as a slump in the price of the yellow metal released years of pent-up retail demand.  The price decline in the past week, the steepest in 30 years, has tarnished gold’s appeal for the portfolio investors whose money had fuelled a 12-year bull run. As investors rush out, consumers that were priced out of the market for years have rushed in.  In the United States, sales of American Eagle gold for two days this week topped the volumes for the whole of March.”

http://www.reuters.com/article/2013/04/19/gold-sales-idUSL3N0D6EQJ20130419

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Japanese police ask ISPs to block Tor

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“Japanese citizens who want to use Tor for whistleblowing or simply to stay invisible don’t have to worry quite yet about the agency’s desire to crack down on Web freedom. One industry insider told The Mainichi that ‘Communication privacy is our lifeline. We won’t be able to accept such a request,’ and with any luck, an industry backlash could force the agency to look at more sensible ways to combat cybercrime and piracy — or they could simply go back to chasing cats.”

http://www.zdnet.com/japanese-isps-to-block-tor-users-guilty-until-proven-innocent-7000014321/

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John Kerry says North Korea conditions for talks ‘unacceptable’

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“US Secretary of State John Kerry Thursday dismissed a set of pre-conditions laid out by North Korea for talks as ‘unacceptable,’ calling them an opening ‘gambit’ from Pyongyang.  The isolated North on Thursday responded for the first time to an offer from Kerry during his weekend visit to the Korean peninsula to return to the negotiating table in a bid to defuse heightened nuclear tensions.  The demands by the North’s main military body included the withdrawal of UN sanctions and a permanent end to South Korea-US joint military drills.”

http://www.rawstory.com/rs/2013/04/18/john-kerry-says-north-korea-talks-conditions-unacceptable/

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A Telling Gold Anecdote From Hong Kong

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thelrcblog-5002

“Went to Hang Seng bullion counter yesterday. The line was out the door. It took an hour wait to see a teller. When I asked if people were buying in the dip or selling in panic, she told me that they haven’t had once ounce of gold sold back to them all day. She told me they have sold more gold in 24 hrs than they normally do in 3 months. Yes, there was a lot of extra security. The guy in front of me bought over $1 million USD in gold. He paid in cash and walked out of the door with the bullion in a Nike bag. Amazing. [..] Here, the man would be arrested and jailed just for having his own money in cash. Oh, and the cash would be stolen.”

http://www.lewrockwell.com/blog/lewrw/archives/135889.html

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As Gold Declines Will Stocks Fly?

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“We often write of directed history, the idea that powerful forces create conditions for the policies that they want to implement.  When it comes to money metals, the idea would be to drive down metals prices while simultaneously affirming that these same metals are simply not a good investment. They are barbarous and whatnot.  At the same time as precious metals prices are falling, stock indexes are rising – presumably at least in part because of the pump priming by central banks that are printing great gouts of money. Some of this money gets stuck in bank coffers but a fair amount is obviously finding its way into various stock markets.”

http://www.thedailybell.com/28998/As-Gold-Declines-Will-Stocks-Fly

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US banker proud to become Chinese national

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“The rise of China has not only transformed the global landscape of the financial industry, but it has also changed an American banker’s nationality. Some in Hong Kong’s financial community were surprised by an e-mail from one of the most veteran investment bankers in the city on Tuesday night. Marshall Nicholson, a managing director in charge of investment banking in Hong Kong for China International Capital Corporation (CICC) told his colleagues and friends that he had officially renounced his United States citizenship and would soon receive a HKSAR passport.  Nicholson, whose wife is a Hongkonger, first came to the city about 11 years ago.”

http://www.scmp.com/business/banking-finance/article/1216594/us-banker-proud-become-chinese-national

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