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Tue, 17th January 2017

Anirudh Sethi Report

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Archives of “ban ki moon” Tag

Former UN Secretary-General’s Brother/Nephew Indicted In U.S. On Bribery Charges

Less than two weeks after stepping down as U.N. Secretary-General, a move many interpreted as an indication of his intention to run for the Presidency of South Korea, two of Ban Ki-Moon’s relatives have been indicted in the U.S. on charges of bribery.  According to the Daily Mail, Ban Ki-Moon’s brother, Ban Ki-sang, and nephew, Joo Hyun “Dennis” Bahn who is a New York real estate broker, have been indicted for an alleged scheme to bribe a Middle Eastern official to use his country’s sovereign wealth fund to purchase a struggling $800 million real estate complex in Vietnam.  Joo Hyun Bahn has been arrested in New York City and is expected to appear in court later today according to the office of U.S. Attorney Preet Bharara.

 Two relatives of former U.N. Secretary-General Ban Ki-Moon have been indicted on U.S. charges that they engaged in a scheme to bribe a Middle Eastern official in connection with the attempted $800 million sale of a building complex in Vietnam.

Joo Hyun “Dennis” Bahn, a New York real estate broker who is Ban Ki-Moon’s nephew, and his father Ban Ki-sang, Ban Ki-moon’s brother who was a senior executive at South Korean construction firm Keangnam Enterprises Co Ltd, were charged in an indictment unsealed on Tuesday in Manhattan federal court.

Bahn is in custody and expected to appear in court later on Tuesday, a spokeswoman for Manhattan U.S. Attorney Preet Bharara said. Defense lawyers could not immediately be identified.

Moon

The Big Theme for 2017: Global Cash Bans

The big theme for 2017 will be Cash… not a pro-deflationary “time to own cash” theme… but a “let’s ban it as quickly as possible” theme.

Let’s review.

In 2016:

1)   Former Secretary of the Treasury, Larry Summers, called for the US to do away with the $100 bill.

2)   Former Chief Economist for the IMF, Ken Rogoff, published his book The Curse of Cash.

3)   The New York Times and Financial Times publicly endorse a ban on cash.

4)   Fed Chair Janet Yellen, during a Q&A session said cash is “not a convenient store of value.”

Of course the above items are simply propaganda and words. But 2016 also featured major actions as far as the War on Cash is concerned…

The 7th largest country in the world by GDP (India) banned physical cash in denominations that comprise over 80% of all outstanding bills.

The Global Cash Ban is Not Over… It’s About To Intensify

The War on Cash is not over… it is about to intensify.

The Trump Presidency has distracted from the next major move to be implemented by Financial Elite.

 That move is a cash ban.

Cash, particularly physical cash (as in bills and coins) is a huge problem for insolvent banks.

Indeed, it is the ONLY problem they have yet to address.

If you’re a large bank and you’re overleveraged due to excessive assets to capital ratios (particularly assets that are at risk of losing value or default) there are three key issues you need to control.

 1)   You need to be able to value your assets however you please.

2)   You need access to liquidity without lowering you asset to capital ratios.

3)   You need to be able to stop bank runs or capital flights.

The Central Banks have already fixed #1 and #2 by suspending “mark to market” accounting standards and implementing QE, respectively. And thanks to rehypothecation, banks can sell assets to Central Banks via QE and still use those same assets as collateral on their derivatives trades.

That leaves #3: capital flights.

At the end of the day, no matter how many tricks the Financial Elites employ via accounting gimmicks and QE programs, depositors can still choose to take their money out of the banks and transfer it to physical cash.

Hence the call for cash bans, particularly of large bills.

The Elites claim that they want to do away with $100 bills (or greater denominations) to stop money laundering or other illicit practices.

The reality is that banning large bills makes it much more difficult for depositors to move their money into cash. Taking out $20,000 or more in deposits when it’s broken down into $100 bills isn’t too difficult.

Taking out $20,000 in $20 bills or smaller denominations IS.

U.N. Secretary General Ban Ki-Moon Condemns The American Stand On Syria, Endorses Putin’s

In an interview with Spanish newspapers that was published October 31st, U.N. Secretary General Ban Ki-Moon condemned U.S. President Barack Obama’s demand that Syrian President Bashar al-Assad be removed from office, and Moon said: “The future of Assad must be determined by the Syrian people.”

Here is the entire quotation

“The future of President Assad must be decided by the Syrian people. Now, I do not want to interfere in the process of Vienna, but I think it is totally unfair and unreasonable that the fate of a person [diplomatese here for: U.S. President Barack Obama’s demand that Assad be removed from the Presidency of Syria] to paralyze all this political negotiation. This is not acceptable. It’s not fair. The Syrian government insists that Assad should be part of the transition. Many Western countries oppose the Syrian government’s position. Meanwhile, we lost years. 250,000 people have been killed. There are 13 million refugees or internally displaced. Over 50% of hospitals, schools and infrastructure has been destroyed in Syria. You must not lose more time. This crisis goes beyond Syria, beyond the region. It affects Europe. It is a global crisis.”

The U.N. Secretary General is here implicitly blaming all of this – lots of blood and misery – on U.S. President Obama, and on the “many Western countries” who ally with him and have joined with him in demanding regime-change in Syria.

Russia Blocks U.N. Statement on Ukraine as Fighting Escalates

Russia prevented the U.N. Security Council on Saturday from criticizing statements by pro-Russian Ukrainian rebels and condemning an upsurge in violence that has claimed dozens of lives in Ukraine, council diplomats said.

Pro-Russian rebels have launched an offensive against the strategic port of Mariupol in eastern Ukraine, prompting warnings from the European Union and U.N. Secretary-General Ban Ki-moon.

Fighting has escalated in eastern Ukraine in recent days, and Russian President Vladimir Putin has blamed Kiev. The rebels have ruled out more peace talks. Western powers and Kiev blame Russia and the rebels for the fresh fighting.

Ban’s press office issued a statement saying he “strongly condemns today’s rocket attack on the city of Mariupol, which reportedly killed dozens of civilians and left over one hundred injured.”

UN Secretary General to brief members on Syria

Tuesday is shaping up to be an important day in the unfolding Syrian crisis, as President Barack Obama lobbies Congress to authorise a military strike against the country.

As that lobbying effort intensifies in Washington, the United Nations will be briefed in New York.

Ban Ki-moon, the secretary-general of the United Nations, will tomorrow morning brief the ten non-permanent members of the UN Security council on the latest developments as its weapon inspectors return from Syria, Bloomberg reports.

UN weapon inspectors left Syria on Saturday after spending several days collecting evidence of a chemical weapons attack in a suburb of the country’s capital, Damascus.

The UN said late on Monday that samples collected by UN weapons inspectors will reach laboratories “within hours.”

India has $1 trillion infrastructure deficit, Chidambaram tells WB

India has a USD 1 trillion infrastructure deficit over the next five years, Finance Minister P Chidambaram has told the World Bank, which wants private sector participation to bridge the funding gap.

 Chidambaram met World Bank President Jim Yong Kim yesterday morning on the sidelines of the annual Spring meeting of the International Monetary Fund and the World Bank.

At a public event here along with UN Secretary General Ban Ki-moon, Kim stressed on the importance of private sector participation on meeting such a massive funding need.

“I just met with the Finance Minister of India this morning, and he told me that, in India, they have a USD 1 trillion infrastructure deficit just for the next five years,” Read More 

Turkey Fires Artillery Shells Into Syria In Alleged Retaliation

Following this morning’s reported shelling of a Turkish town (from Syrian lands):

  • *NINE INJURED AS SHELL FROM SYRIA LANDS IN TURKISH TOWN: NTV

The Turkish foreign ministry has held emergency talks and, according to Zaman, Turkey has now begun firing ‘warning’ shots into Syria and ‘the bombardment continues to be heavy’.

  • *TURKISH ARTILLERY BOMBARDS SYRIA IN WARNING, ZAMAN REPORTS

And it would appear things are escalating:

  • *TURKISH FOREIGN MINISTER CALLS NATO AFTER SYRIA BORDER SHELLING

On the earlier Syrian shelling of Turkey…

Via Reuters: Mortar from Syria kills five family members in Turkey

 AKCAKALE, Turkey, Oct 3 (Reuters) – A mortar bomb fired from Syria landed in a residential district of the southeastern Turkish town of Akcakale on Wednesday, killing a woman and four children from the same family and wounding at least eight other people. 

A cloud of dust and smoke rose up over low-rise buildings as residents ran to help the wounded. Others, infuriated by the increasing spillover of violence from Syria’s civil war, took to the streets shouting protests against the local authorities.

Foreign Minister Ahmet Davutoglu phoned U.N. Secretary General Ban Ki-moon to brief him about the incident and also spoke with senior military officials and Syria crisis mediator Lakhdar Brahimi, his ministry said in a statement.

Davutoglu signalled over the weekend that Turkey would take action if there was a repeat of a mortar strike which damaged homes and workplaces in Akcakale last Friday. Read More 

Netanyahu, Barak ‘favour’ Iran strike

OCCUPIED JERUSALEM Israel’s prime minister and defence minister would like to attack Iran’s nuclear sites before the US election in November but lack crucial support within their cabinet and military, an Israeli newspaper said on Friday.

The front-page report in the biggest-selling daily Yedioth Ahronoth came amid mounting speculation that war with Iran could be imminent even though it might rupture the ties between Israel and the US.

“Were it up to Benjamin Netanyahu and Ehud Barak, an Israeli military strike on the nuclear facilities in Iran would take place in the coming autumn months, before the November election in the United States,” Yedioth said in the article by its two senior commentators, which appeared to draw on discussions with the defence minister but included no direct quotes.

Spokesmen for Prime Minister Netanyahu and Defence Minister Barak declined to comment. Read More 

Growing concern Israel may strike Iran this spring

There is growing concern about an Israeli military strike against Iran to stop it from developing a nuclear weapon.

Defense Secretary Leon Panetta is quoted as saying it is likely Israel will launch the attack this spring. CBS News correspondent David Martin reports that Panetta believes specifically that there is a strong likelihood that Israel will strike Iran in April, May or June.

That quote came from columnist David Ignatius, writing shortly after he completed a trans-Atlantic flight with the defense secretary. Panetta, on Thursday, did not dispute it.

He noted that Israel has stated publicly that it is considering military action against Iran. He said the U.S. has “indicated our concerns.”

As Panetta explained in an interview with “60 Minutes” an Israeli attack would almost certainly have consequences for the U.S. Read More