U.S. Cancels Drone Sales to Turkey Over Intel Disclosure to Iran

October 23, 2013
The United States has reportedly cancelled the delivery of 10 unmanned Predator drones to Turkey following Ankara’s disclosure of several Israeli intelligence officials operating in Iran, according to Turkish press reports.

In February 2012, the Wall Street Journal reported that Turkey’s state-owned bank, Halkbank, was processing “payments from third parties for Iranian goods.” This included “payments for Indian refiners unable to pay Tehran for imported oil through their own banking system for fear of retribution from Washington.” Separately, the Journal also reported that the Turkish bank was responsible for many of Turkey’s “gas-for-gold” transactions with Iran despite an executive order issued by the Obama administration prohibiting gold payments to the government of Iran. As Turkey’s Deputy Prime Minister Ali Babacan frankly admitted, Turkey’s “gold exports [to Iran] end up like payments for our natural gas purchases.”

The cancellation of these drones would be another setback for U.S.-Turkey relations, which have cooled in recent months as Ankara grows closer to Hamas and the Iranian regime.

Relations between Turkey and the West hit another speed bump last week when it came to light that Ankara had exposed the identities of up to 10 Iranians working on behalf of the Israelis in 2012.
“This news is particularly concerning in light of Turkey’s ongoing gold exports to Iran and support for the terrorist organization Hamas,” said Roskam, who asked Secretary of State John Kerry in April to sanction a Turkish bank that has reportedly traded gold to Iran in exchange for oil.

Turkey announced late last month that it had awarded a $3.4 billion defense contract to a Chinese firm that has been sanctioned by the United States. The China Precision Machinery Export-Import Corp. (CPMIEC) was selected by Turkish officials to construct an advanced “long-range air and missile defense system,” according to Turkey’s Hurriyet Daily News. Turkey selected CPMIEC over competing bids from U.S. defense firms Raytheon and Lockheed Martin, as well as offers from several Russian and French firms, according to the report. CPMIEC has been sanctioned by the United States for allegedly selling advanced weapons to Iran and Pakistan. It also is believed to have sold chemical weapons to Syria. Terrorism experts said that Turkey is close to qualifying as an official state sponsor of terror.
Washington, which is providing technical and intelligence to Ankara in its fight against autonomy-seeking Kurdish rebels, deployed our Predator drones from Iraq to Turkey.


J£w$ Got Mon€¥ #JewsGotMoney

April 11, 2013
(simply) …A non-Jewish documentary director Sasha Andreas produced a movie titled Jews Got Money?, dedicated to these other Jews – the ones who didn’t get any money. (Read this article) about the movie. Did you know that one in five Jewish persons in New York lives in poverty? If you didn’t, you are not alone: the common stereotype all around the world is that “Jews got money.” This is exactly the cliché that our upcoming documentary by the same title hopes to debunk.

Germany will physically inspect its gold reserves worldwide.

October 26, 2012

(Other) “German Efficiency” – Germany will physically inspect its gold reserves worldwide.(Cnbc).A German federal court has said that country’s central bank should conduct annual audits and physically inspect its gold reserves worldwide, including gold in the custody of the Federal Reserve Bank of New York. In addition to the FRBNY, Bundesbank gold is stored in London, Paris and Frankfurt. For decades, the Bundesbank has relied on written confirmation of its gold holdings in London, Paris and New York. According to the report from the German audit court, the last time Bundesbank officials physically inspected the central banks gold holdings was, well, never. (It should be stated that the folks at FT Alphaville quote a report saying an inspection took place in 1979/1980.) Interestingly enough, the Bundesbank is apparently quite happy with taking the word of other central bankers about the existence, location and size of its gold reserves. It put out the word that it disagrees with the Audit Court, which only has advisory power and cannot force the Bundesbank to follow its recommendations, about the need for inspections. Nonetheless, the Bundesbank is actually going to follow the recommendation that it verify the gold stocks. It also has plans to ship some 150 tons of gold back to Germany for a more “thorough examination.”Hmmmmmm……..Read the full story here.

"Sanctions that Benefit" – Iran buys Turkish gold via UAE, economists say.

September 28, 2012

(other) “Sanctions that Benefit” – Iran buys Turkish gold via UAE, economists say.(HD).Turkey’s trade deficit fell 30 percent in August, reportedly on the back of strong gold sales to Iran even though the United Arab Emirates was the leading gold buyer from Turkey in the given period. The trade deficit fell to $5.86 billion, according to the Turkish Statistical Institute, compared with a $7.89 billion deficit in July and a forecast of $8.10 billion in a Reuters poll. “This data is a result of soaring gold exports, which broke a record with $2.3 billion in August,” Oyak Securities economist Mehmet Besimoğlu said on Sept. 28. “Gold exports were generally to Iran, made via the United Arab Emirates.” Turkish gold sales to Iran have soared as Iranians turn to the precious metal to protect savings and, potentially, to trade, as Western sanctions aimed at forcing the Islamic republic to curb its nuclear program tighten. Some trader firms also speculated that gold to the UAE might be for Iran in deed. As a whole, Turkey’s gold exports jumped more than fourfold to $11.2 billion in the first eight months of 2012. Overall exports to the UAE jumped eightfold to $2.23 billion, making it Turkey’s largest export destination in August. “The lower-than-expected August trade deficit was mainly due to the slowdown in domestic economic activity and net gold exports,” researchers from local lender TEB said. Exports rose 14.5 percent to $12.87 billion, as growing trade with markets in Africa and the Middle East eclipsed a slowdown in demand from Europe. Imports fell 4.8 percent to $18.74 billion.Hmmmm……Sanctions that benefit Obama’s BFF Turkey.Read the full story here.

boggles the mind. Iran and Turkey are at each other’s throats… but with a middleman they do business. They say Mohammad was a merchant. I wonder if he had a setup like this with the enemy.

Sanctions that shine: Turkish gold sales to Iran skyrocket

May 20, 2012
How effective are the American-led sanctions against Iran? Consider this: In March, Turkey, which is led by President Obama’s best friend forever (BFF) Recep Tayyip Erdogan, exported more than thirty times as much gold to Turkey as it did in March of 2011. Thirty times as much (Hat Tip: Joshua I).

Sanctions to force Iran to curb its nuclear program have targeted its energy and banking sectors and new measures from both the United States and European Union take effect in July, aimed at strangling Tehran’s foreign earnings.
The sanctions have made neighboring Turkey an ever more important channel for the Islamic republic.
Data from Turkey’s Statistics Institute yesterday showed gold exports to Iran rose to nine tons, worth $480 million, in March, from 286 kg a year earlier and compared to just 30 kg in February this year.
They were the highest monthly exports to Iran since records started in 2010. Total gold exports were 11.1 tons in March.
“It wouldn’t be wrong to say Iran chooses Turkey for gold imports because of embargoes,” said Gokhan Aksu, vice chairman of Istanbul Gold Refinery, one of Turkey’s biggest gold firms.
“Iranians prefer jewels and precious stones to protect the value of their money and escape instability,” he told Reuters.

I’m sure Iran is going to stop developing nuclear weapons immediately because of these very tough sanctions.
What could go wrong?

no wonder the Iranians went Gaga for Ron Paul

Libya’s first lady owns 20 tons of gold: reports

March 7, 2011

DUBAI (Mohamed al-Naeimi)
Since the start of the Libyan revolution on Feb. 17, Libya’s first lady Safia Farkash has not been in the limelight unlike her Tunisian and Egyptian counterparts even though she is known for her enormous wealth and considerable influence.
Safia Farkash owns an airline company called Buraq Air headquartered in the Mittiga International Airport in the Libyan capital Tripoli. Farkash operates the company with the approval of her husband even though it is a rival of the Libyan national carrier and monopolizes the transfer of Libyan pilgrims.

Reports of Farkash’s wealth are varried, but one of the most widely-circulated reports suggests that the first lady owns 20 tons of gold.

News of Farkash’s wealth is in line with the Wiki Leaks documents which stated that Gaddafi is the head of a family that is powerful and rich, yet divided and dysfunctional.
According to Wiki Leaks, Farkash is generally low profile. She travelled in a rented plane and a procession of cars drove her from the airport to her destination. Even the banquet she held at the Bab al-Azizia compound, Gaddafi’s main headquarters, to celebrate the anniversary of the 1969 revolution was quite modest.
During the Lockerbie crisis, the International Coalition against War Criminals (ICAWC), based in France, revealed in 1992 that Gaddafi’s wealth had reached 80 billion U.S. dollars and that his wife’s was estimated at 30 billion.

Story of first lady

Safia Farkash al-Baraasi is the second wife of Libya leader Muammar Gaddafi. She was born in the city of al-Baida in eastern Libyan and hails from al-Baraaesa tribe. They got to know each other when she worked as a nurse and he was admitted to hospital for an appendectomy in 1971. They got married the same year and had seven children, six boys and their only daughter Ayesha.

During the first years of their marriage, Farkash rarely made media appearances, yet in the past few years she started engaging in social activities like taking part in celebrating the 1969 revolution that brought her husband to power and attending the graduation of female police students in 2010.
In 2008, Farkash was elected vice president to the African First Ladies Organization in a meeting of African Union leaders in the Egyptian Red Sea city Sharm al-Sheikh even though she was not present at the meeting and has never taken part in activities related to it.
Several websites reported that Farkash and her daughter Ayesha landed in Germany on February 20, but no one denied or confirmed the news.
(Translated from the Arabic by Sonia Farid)

Gold before the election was worth less… now the GOP won the election Gold shoots up?

November 8, 2010

before election October 27 Oil value down by 0.7%, gold value down by 1.2%:

The New York Stock Exchange closed Wednesday with loses in oil and gold values. The price of oil was set at $81.94 per barrel, down by 0.7%. The price of gold was set at $1,322.6 per ounce, down by 1.2%.

As world leaders prepare to meet in Seoul this week, Robert Zoellick, president of the World Bank, said in a Financial Times op-ed piece that leading economies should consider “employing gold as an international reference point of market expectations about inflation, deflation and future currency values.”
and now? something unkosher is going on
A return to some sort of currency link to gold would be “practical and feasible, not radical,” Zoellick said. He made the proposal as part of reforms to be considered ahead of the Group of 20 meetings in South Korea. Read more about Zoellick’s comments
That gold didn’t rise early Monday after Zoellick’s piece became the talk of the town “tells you the story,” said Bill O’Neill, a principal at Logic Advisors in New Jersey.
“The gold standard is not going to happen anytime soon,” he said. To pull off something as daunting and complicated in modern-day financial world would require a concerted political will that just isn’t there, O’Neill added.
Such a system could stabilize gold and turn what is still a thin market into a more orderly one, said James Cordier, a portfolio manager at Optionsellers.com in Florida. Currencies would also benefit, he added.
“We’d have our paper [money] tied to something,” he said.
Meanwhile, silver continued to rally to 30-year highs, pushing toward $27 an ounce. Silver for December delivery /quotes/comstock/21e!f1:si\z10 (SIZ10 2,760, +85.20, +3.19%)  added 8 cents, or 0.3%, to $26.83.
Copper for December delivery added one cent, or 0.2%, to $3.96 a pound.

Claudia Assis is a San Francisco-based reporter for MarketWatch.
SAN FRANCISCO (MarketWatch) — Gold futures overcame initial weakness to hit a record high Monday, soaring beyond $1,400 an ounce.

Gold for December delivery /quotes/comstock/21e!f:gc\z10 (GCZ10 1,406, +8.60, +0.62%) added $7.20, or 0.5%, to $1,405 an ounce on the Comex division of the New York Mercantile Exchange. It touched an intraday high of $1,407.20 an ounce.
Gold began floor trading in the red, losing as much as $10 from Friday’s settlement close as the dollar rose.

Euro concerns pressure stocks

QE2 worries are replaced by renewed concerns over European sovereign debt, leading U.S. stocks lower. Donna Kardos Yesalavich, Kathleen Madigan and George Stahl report.

The metal pared its losses, however, as renewed worries about Europe’s debt woes took center stage.
The cost of insuring Irish debt against default ballooned Monday, and the cost of insuring Portuguese debt also widened to a record. Read more about Portuguese and Irish CDS
The gold contract’s Friday settlement at $1,397.70 an ounce was a record finish for the metal. Silver and copper also hit historic high marks.
The catalyst was the Federal Reserve’s decision to embark on a fresh round of bond buying, to the tune of $600 billion over eight months. This gave investors a fresh reason to sell the dollar.
The dollar traded stronger to kick off the week, however, pressuring commodities to start. The dollar index /quotes/comstock/11j!i:dxy0 (DXY 76.95, +0.40, +0.53%) , which tracks the performance of the greenback against a basket of six rival currencies, rose 0.5% to 76.94.
The euro weakened as bonds from Greece, Ireland and Portugal came under pressure — a fresh flare-up of the sovereign-debt problems Europe has faced for much of the year. See more on how dollar rises as debt fears weigh on euro.