Tag Archives: Asia

Defense contractor accused of espionage had worked in deterrence at US Pacific Command

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“A civilian defense contractor accused of giving his Chinese girlfriend military secrets worked on developing military plans to deter potential U.S. enemies when the two began their romance, according to his online professional profile and court documents.  Bishop was arrested Friday at Pacific Command headquarters at Camp H.M. Smith in Hawaii.  The LinkedIn profile says he moved to a different department last May to work on cybersecurity. During that month, the FBI claims, Bishop emailed military secrets to the woman, including war plans and information on nuclear weapons.”

http://articles.washingtonpost.com/2013-03-18/national/37817623_1_defense-contractor-military-secrets-military-plans

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Ron Paul on the ‘Korean Threat’

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“Tthe US and South Korea held a three day naval exercise last month that included, among many other warships, an American nuclear-powered submarine. This month, the US and South Korea are conducting another joint military exercise, this time with the US flying nuclear-capable B-52 bombers over the Korean peninsula.  Much of the current escalation came after the US drew up yet another set of sanctions for the UN Security Council to impose on North Korea.  The North Korean government retaliated against the new sanctions with bellicose threats to launch a nuclear first strike against the US.  The US response to the threats has been entirely predictable.”

http://www.lewrockwell.com/blog/lewrw/archives/134351.html

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Chinese fish vendor finds live bomb inside squid’s stomach

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“For one fish vendor in the Guangdong province of China, the catch of the day came with an explosive surprise, as he found a live bomb inside a squid he was preparing for a customer.  The Daily Mail reported that Huang found the eight-inch bomb while gutting the squid, then called police.  Authorities detonated the bomb with a controlled explosion away from the market and speculated that it might have been dropped from a fighter jet, but did not say how old it was, or where it originated.”

http://www.rawstory.com/rs/2013/03/25/chinese-fish-vendor-finds-live-bomb-inside-squids-stomach/

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Bank of Japan vows ‘all means available’ to smash deflation

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“The new team is much closer to the Fed and the Bank of England, but critics say the bank risks becoming a mere branch of the finance mininstry — where Mr Kuroda spent much of his careers.  The great fear is that Japan will lurch from stable deflation to an unstable price spiral that suddenly causes investors to question the integrity of the country’s 23 trillion public debt, the world’s largest.  The IMF says Japan’s gross debt will reach 245pc of GDP this year. It has been possible so far because banks have gobbled up government bonds worth 100pc of GDP but this makes the banking system ever more vulnerable to a sudden rise in rates.”

http://www.telegraph.co.uk/finance/economics/9946056/Bank-of-Japan-vows-all-means-available-to-smash-deflation.html

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U.S. flies B-52 bombers over South Korea

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“The United States said it was flying training missions of nuclear-capable B-52 bombers over South Korea, in a clear signal to North Korea at a time of escalating military tensions.  The flights — part of annual joint South Korea-US military exercises — should be seen as underscoring US commitment and capacity to defend Seoul against an attack from the North, Pentagon spokesman George Little said.  B-52s have taken part in annual exercises before, but Little said the Pentagon wanted to underline their use this time given the current, heightened tensions, and he added that further B-52 flights would be carried out.”

http://www.rawstory.com/rs/2013/03/18/u-s-flies-b-52-bombers-over-south-korea/

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India enacts law to enforce ‘Know Your Customer’ norms for Gold purchases

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“World’s largest gold consumer India enacted a law making it mandatory for jewellers to collect a KYC (know your customer) document from every customer purchasing jewellery worth Rs 50,000.  India made an amendment to extend the purview of the Prevention of Money Laundering (PML) Act to enforce Know Your Customer norms for retail purchases of gold and precious stones.  Indian authorities hope this move will eventually cut down gold imports which is responsible for country’s staggering current account deficit (CAD).”

http://www.bullionstreet.com/news/india-enacts-law-to-enforce-kyc-norms-for-gold-purchase/4296

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Kyle Bass Warns: “The ‘AIG’ Of The World Is Back”

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“His single best investment idea for the next ten years is, ‘Sell JPY, Buy Gold, and go to sleep,’ as he warns of the current situation in markets, ‘we are right back there! The brevity of financial memory is about two years.’  The main thrust of the discussion is Bass’ thesis on Japan’s pending collapse – which we wrote in detail on here, here, and here – and while the details of this thesis should prepare most for the worst, it is the Q&A that provides some very clear insights into just what is going on in the world.”

http://www.zerohedge.com/news/2013-03-12/kyle-bass-warns-aig-world-back

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Norway’s Sovereign Wealth Fund Flees Currencies Tainted by Stimulus Addiction

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“Norway’s $713 billion sovereign wealth fund is turning away from the world’s biggest currencies and their debt-laden governments as policy makers undermine their exchange rates through unprecedented stimulus measures.  The Government Pension Fund Global, the world’s largest wealth fund, cut its holdings in French and U.K. government bonds by almost half last year as it raised its share of government bonds in emerging-market currencies to 10 percent of its fixed-income holdings by adding investments in Turkey, Russia and Taiwan.”

http://www.bloomberg.com/news/2013-03-10/norway-oil-fund-flees-currencies-tainted-by-stimulus-addictions.html

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Japan To Hike Utility Prices By 14-19% As Inflation Surges In All The Wrong Places

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“First it was gas prices, then it was food prices, and now it is the turn of basic utilities to see costs surge by double digits.  ‘Japanese utilities, forced to idle their nuclear power plants over the past two years and facing higher fuel costs due to a weak yen, are now looking to push through double-digit rate hikes for their commercial customers.’ This means less disposable income, less corporate profits, less monetary velocity, less growth and ultimately less ‘inflation’ in other things such as the much desired stock market, which was supposed to be the wealth effect offset to all staples price increases.”

http://www.zerohedge.com/news/2013-03-12/japan-hike-utility-prices-14-19-inflation-surges-all-wrong-places

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Japan PM: Hyperinflation ‘Unthinkable’ Even With Bold Easing

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“Hyperinflation is ‘unthinkable,’ Prime Minister Shinzo Abe said Monday, citing the Bank of Japan’s ability to make adjustments after enacting bold monetary easing.  ‘If the rate of inflation exceeds the 2% target, the BOJ would naturally proceed with a policy to keep it within 2%,’ he told reporters.  At the same time, Abe noted that the government ‘must keep a keen eye on trends in prices and long-term interest rates.’ The prime minister stressed the need to improve the country’s finances, indicating a stance of limiting monetary policy side effects with an eye on government bond prices.”

http://e.nikkei.com/e/fr/tnks/Nni20130311D1103N05.htm

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