5-24-13 The high import duty on gold, local taxes and restrictions on imports are leading to a rise in smuggling of the commodity into India.
Last year, 102 tonnes of gold, or 10 per cent of total imports, made its way through unofficial routes, according to Thomson Reuters GFMS, which compiles data for the World Gold Council.
It is estimated this year it could rise to 140 tonnes, an increase of 40 per cent. http://www.rediff.com/money/slide-show/slide-show-1-gold-smuggling-likely-to-rise/20130524.htm
Tiananmen Square Anniversary
6-3-13 BEIJING—Activists in China are taking to social media to urge the public to wear black on the 24th anniversary of the bloody military crackdown on protesters who had camped out for weeks on Tiananmen Square….
An academic from Guangzhou, Ai Xiaoming, said she was answering an artist’s call on Google Plus for people to send photos of themselves wearing black for an online photo collection to mark the anniversary.
“More and more people would like to know the truth about the incident, which makes the authorities more nervous,” she said. “Although it’s difficult for people to get access to publications in China, they are able to get information through channels such as social media. People face suppression, detention, arrest and even conviction, but the information can’t be completely blocked. People have never stopped remembering the incident.”
The event has left deep, emotional scars on some of those involved in the crackdown. A former People’s Liberation Army soldier who was deployed to the vicinity of the square to help clear out the protesters said in an interview Monday that the crackdown forever changed his perspective.
“When you’re holding your gun and facing a lot of students, and you know that they are students, your heart is filled with a deep terror,” said Chen Guang, now a Beijing-based artist. Since Chen left the army to pursue art, he has painted a number of pieces depicting the aftermath of the crackdown as a way of remembering the event.
Chen said he was a 16-year-old soldier when his unit was sent to the Great Hall of the People to deliver ammunition and later was mobilized in a nighttime face-off with protesters on the steps of the Stalinist-era building fronting the square.
VIENNA, June 3 (RIA Novosti) – Iran has not provided the International Atomic Energy Agency with sufficient information to substantiate its claim that its nuclear program is peaceful, IAEA Director General Yukiya Amano said Monday.
Paying for Bilderberg Meeting (starting on D-Day June 6) This Year
It showed that the Bilderberg conference is paid for, in the UK, by an officially registered charity: the Bilderberg Association (charity number 272706).
According to its Charity Commission accounts, the association meets the “considerable costs” of the conference when it is held in the UK, which include hospitality costs and the travel costs of some delegates. Presumably the charity is also covering the massive G4S security contract. Fortunately, the charity receives regular five-figure sums from two kindly supporters of its “benevolent aims”: Goldman Sachs and BP. The most recent documentary proof of this is from 2008 (pdf), since when the charity has omitted its donors’ names (pdf) from its accounts. http://www.guardian.co.uk/world/2013/jun/02/week-ahead-bilderberg-2013-watford
Powerful Friends and Cozy Relationships Helped Cheniere Cut Through Regulation
The pivot point in the company’s turnaround came in May 2011 when the DOE granted Cheniere authority to export LNG to countries without a free trade agreement with the United States. That includes Japan, India, China, Korea and most of Europe — the LNG markets that really matter. Permits to export to free-trade countries like Canada and Mexico are automatically granted and therefore far less valuable.
Cheniere was the first to apply for the prized non-FTA export permit, but when other companies quickly followed suit, the DOE slapped a moratorium on approvals. Then on May 17, the DOE ended its moratorium by granting Freeport LNG a provisional non-FTA export permit.
The DOE had processed Cheniere’s application in nine months. Freeport’s, filed in December 2010, took 30 months. And Freeport still can’t begin construction on its export terminal until it clears another challenging regulatory hurdle with FERC.
The DOE’s selective favor has provided Cheniere a distinct market advantage, rescuing it from a lingering cash crunch and setting the table for a spectacular run for the company’s stock — ticker symbol “LNG.”
In August 2010, just before Cheniere announced plans to seek the DOE’s permission to export LNG, its stock traded at $2.41. Just after the permit was bestowed, the stock had surged to $11.56, a 380 percent gain.