As the world grows increasingly concerned about the fighting in Ukraine, especially in the aftermath of a large bomb being detonated last night, today former U.S. Treasury official, Dr. Paul Craig Roberts, warned that the world is now on the cusp of total war.

By Dr. Paul Craig Roberts Former U.S. Treasury Official

February 9 (King World News) – At this time we do not know the outcome of the meeting in Moscow between Merkel, Hollande, and Putin.

The meeting with Putin was initiated by Merkel and Hollande, because they are disturbed by the aggressive position that Washington has taken toward Russia and are fearful that Washington is pushing Europe into a conflict that Europe does not want.  However, Merkel and Hollande cannot resolve the NATO/EU/Ukraine situation unless Merkel and Hollande are willing to break with Washington’s foreign policy and assert the right as sovereign states to conduct their own foreign policy.

KWN Roberts X 2:9:2015

Putin-Merkel-Hollande Meeting

Unless Washington’s war-lust has finally driven Europeans to take control over their own fate, the most likely outcome of the Putin-Merkel-Hollande meeting will be more meetings that go nowhere. If Merkel and Hollande are not negotiating from a position of independence, one likely outcome after more meetings will be that Merkel and Hollande will say, in order to appease Washington, that they tried to reason with Putin but that Putin was unreasonable.  

Based on Lavrov’s meeting in Munich with the Europeans, the hope for any sign of intelligence and independence in Europe seems misplaced. Russian diplomacy relied on European independence, but as Putin has acknowledged Europe has shown no independence from Washington.  Putin has said that negotiating with vassals is pointless. Yet, Putin continues to negotiate with vassals.

KWN Roberts V 2:9:2015

French Oppose Washington

Perhaps Putin’s patience is finally paying off. There are reports that Germany and France oppose Washington’s plan to send weapons to Ukraine. French president Hollande now supports autonomy for the break-away republics in Ukraine. His predecessor, Sarkozy, said that Crimea chose Russia and we cannot blame them, and that the interests of Americans and Europeans diverge when it comes to Russia.  Germany’s foreign minister says that Washington’s plan to arm Ukraine is risky and reckless.  And on top of it all, Cyprus has offered Russia an air base.

We will see how Washington responds to the French statements that European interests with regard to Russia diverge from Washington’s. Washington does not recognize any valid interest except its own.  Therefore, it has been fruitless for Russia to negotiate with Washington and Washington’s EU vassals.  To come to an agreement with Washington has required Russia’s surrender to Washington’s terms.  Russia must hand over Crimea and Russia’s warm water port, and Moscow must stand aside while the Russian people in eastern and southern Ukraine, the “break-away” provinces, are slaughtered.  Russia must support the hostile regime in Kiev with loans, grants, and low gas prices.

That is the only deal Russia has been able to get from Washington, because the EU has supported Washington’s line.   With French presidents reportedly now saying, “We are part of a common civilization with Russia,” Europe is on the road to independence.

KWN Roberts IV 2:9:2015

False Flag Attack? 

Can Europe stay on this road, or can Washington bring Germany and France back in line?  A false flag attack could do it. Washington is a control freak, and the neoconservative ideology of US hegemony has made Washington even more of a control freak. Europe with an independent foreign policy means a great loss of control by Washington.  If Washington retains or regains control, I see two clear options for Russia.

Bankrupt West 

One is to disengage totally from the West.  The West is a morally depraved  and economically bankrupt entity.  There is no reason for a decent country like Russia to wish to be integrated with the evil that is the West.  Russia has the option of abandoning the dollar payments system and all financial relationships with the West. 

By trying to be part of the West, Russia made a strategic error that endangered the independence of Russia.  Russia found herself dependent on Western financial systems that gave Washington power over Moscow and allowed Washington to place economic sanctions on Russia. 

It was Russia’s desire to be part of the West that made possible Washington’s sanctions and Washington’s propaganda against Russia. It was Russia’s desire to be accepted by the West that produced the weak Russian response to Washington’s audacious coup in Kiev.  Washington is using Ukraine against Russia. After seizing control in Kiev, it is unlikely that Washington will accept a peaceful solution in which the “break-away” provinces are permitted to become autonomous republics of Ukraine.

Is negotiation with Washington possible when Washington only wants conflict?

King World News -- Putin Draws Line In The Sand As West's Big Oil Companies Push For War

Russia Can Destroy NATO

Russia’s other clear option is to destroy NATO by ceasing to sell energy resources to NATO members. The countries would choose energy over NATO membership. 

Why should Russia empower its obvious enemies by meeting their energy needs?  Russia could also encourage Greece, Italy, Spain, and Portugal to default on their loans and rely on Russia, China, and the BRICS Bank for financing. China holds a massive amount of dollars.  Why not use them to break up Washington’s European empire?

Russia could also default on its loans to the West. Why should Russia pay an enemy that is trying to destroy her? 

If Europe cannot gain its independence, at some point Russia will either have to surrender to Washington or demonstrate decisive action that causes Washington’s European vassal states to understand the cost of vassalage to Washington and decide to abandon Washington in the interest of their own survival.

KWN Roberts VI 2:9:2015

Russia Can Forget About The West 

Alternatively, Russia can forget about the West and integrate with China and the East. Considering Washington’s hegemonic posture, there is no counterparty for Russia’s diplomacy.

Predictions are difficult, because policies can have unintended consequences and produce black swan events. For example, the Islamic State is the unintended consequence of Washington’s wars in the Muslim world. The Islamic State was created out of the Islamist forces that Washington assembled against Gaddafi in Libya. These forces were then sent to overthrow Assad in Syria.  As Muslims flocked to ISIS’s banner and its military prowess grew, ISIS realized that it was a new and independent force consisting of radicalized Muslims. 

Radicalized Muslims are tired of Western domination and control of Muslim lands.  Out of ISIS’s self-awareness, a new state has been created, redrawing the Middle Eastern boundaries created by the British and French.

It is curious that Iran and Russia regard the Islamic State as a more dangerous enemy than Washington and are supporting Washington’s moves against the Islamic State. As the Islamic State is capable of disrupting Washington’s policy in the Middle East, Iran and Russia have an incentive to finance and arm the Islamic State. It is in Washington, not in the Islamic State, where Sauron resides and is gathering up the rings in order to control them all.

KWN Roberts III 2:9:2015

EU Driving Greece Into The Ground

In their attempts to negotiate with Europeans, Putin and Lavrov should notice the total unwillingness of the EU to negotiate with its own members.  Right in front of our eyes we see Merkel and Hollande driving their fellow Greek EU compatriots into the ground.

The EU has told the new Greek government that the EU doesn’t care a whit about Greece and its people.  The Europeans only care that they don’t get stuck with the cost of the bad loans the German and Dutch banks made to Greek governments in the past.

As I described in my book, The Failure of Laissez Faire Capitalism, one purpose of the “sovereign debt crisis” is to establish the principle that private lenders are not responsible for their bad judgment.  Instead, the peoples of the country who were not parties to the loans are responsible.  The EU is using the crisis not only to protect powerful private interests, but also to establish that over-indebted countries lose control of their fiscal affairs to the EU.  In other words, the EU is using the crisis to centralize authority in order to destroy country sovereignty.

KWN Roberts VII 2:9:2015

Washington Overthrowing Governments

As Washington and the EU do not respect the sovereignty of Greece, one of its own, why does the Russian government think that Washington and the EU respect the sovereignty of Russia or Ukraine?  Or of India, Brazil and other South American countries, or China. Currently Washington is trying to overthrow the governments of Cuba, Venezuela, Ecuador, Bolivia, and Argentina. 

Washington respects no one.  Thus, talking to Washington is a waste of time. Is this a game Russia wants to play? ***ALSO JUST RELEASED: Marc Faber Unveils The Biggest Surprise For 2015 And The Greatest Danger Facing The World Today CLICK HERE.







Gold miners are on the prowl looking for good gold assets:


(courtesy Bloomberg)



Gold miners are on the hunt for assets as prices climb


By Jesse Riseborough, Kevin Crowley, Thomas Biesheuvel
Bloomberg News
Wednesday, February 11, 2015

Gold producers with cash on hand are on the hunt for cheap mining assets as rising prices drive shares higher.

During a 12-year bull run that ended last year, about $30 billion in debt was racked up by companies that mine gold. Those that minimized borrowing then are in the best position now to scoop up mines from rivals with weaker balance sheets, said executives at the Investing in African Mining Indaba conference in South Africa, the biggest such gathering on the continent.

Already $2.7 billion in deals have been announced or completed this year within the industry, including Monday’s $1.1 billion offer for Rio Alto Mining Ltd. by Tahoe Resources Inc. It’s an early leg up on the $10.5 billion in deals last year. …

… For the remainder of the report:…





With negative interest rates, investors are now seeking gold”


(courtesy Bloomberg)




Swiss bank says investors favor gold amid charges on cash


By Giles Broom
Bloomberg News
Wednesday, February 11, 2015

GENEVA, Switzerland — Investors are buying more gold as an alternative to hold Swiss franc cash deposits, according Vontobel Holding AG, a Swiss bank and wealth manager.

“We keep noticing that gold is coming back into favor with investors,” Vontobel Chief Executive Officer Zeno Staub, 45, told reporters today after the Zurich-based company announced full-year earnings.

Concerns that Greece may abandon the euro and Ukraine may be headed for a wider conflict have spurred demand for haven assets. Gold has climbed 4.2 percent this year, even as the dollar strengthened on prospects of higher U.S. interest rates. Investors’ holdings in gold-backed funds are near the highest since October. …

… For the remainder of the report:





For those following Agnico eagle, they came in with a strong performance:  (tonight’s release)


Agnico Eagle reports fourth quarter and full year 2014 results – Strong operational performance yields record annual production; Initial resource declared at Amaruq

PR Newswire

(All amounts expressed in U.S. dollars unless otherwise noted)

Stock Symbol:   AEM (NYSE and TSX)

TORONTO, Feb. 11, 2015 /PRNewswire/ – Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) (“Agnico Eagle” or the “Company”) today reported a quarterly net loss of $21.3 million, or a net loss of $0.10 per share for the fourth quarter of 2014.  This result includes a non-cash foreign currency translation loss on deferred tax liabilities of $20.3 million ($0.10 per share), various mark-to-market adjustment losses of $5.0 million ($0.02 per share), unrealized losses on financial instruments of $7.7 million ($0.04 per share), non-cash foreign currency translation losses of $7.0 million ($0.03 per share), non-cash stock option expense of $3.5 million ($0.02 per share) and non-recurring gains of $5.6 million ($0.03). Excluding these items would result in adjusted net income of $16.6 million ($0.08 per share) for the fourth quarter of 2014.  In the fourth quarter of 2013, the Company reported a net loss of $780.3 million or a net loss of $4.49 per share, which included a $1.0 billion impairment loss.

Fourth quarter 2014 cash provided by operating activities was $164.0 million ($152.2 million before changes in non-cash components of working capital), this compares to cash provided by operating activities of $140.8 million in the fourth quarter of 2013 ($135.8 million before changes in non-cash components of working capital).  The slight increase in cash flow before changes in working capital during the current period was largely due to higher production which more than offset lower realized gold and silver prices (down 10% and 23% respectively, period over period).

“Our operations continue to perform well, which allowed us to exceed both our production and cost guidance for the third year in a row.  With projected year-over-year production growth of 12%, lower fuel costs and weaker local currencies anticipated in Canada, Mexico and Finland, we expect to have another strong year in 2015”, said Sean Boyd, President and Chief Executive Officer.  “It should also be an exciting year on the exploration front, with drilling activities underway at most of our mines, and significant programs planned at our Amaruq project in Nunavut and El Barqueno project in Mexico.  Given the strong potential to expand the initial 1.5 million ounce resource at Amaruq, and the recent positive permitting news at Meliadine, we expect to unlock additional value from our Nunavut platform in 2015”, added Mr. Boyd.

Fourth quarter, full year 2014 and recent highlights include:

  • Record annual gold production – Payable gold production 1 in 2014 was 1,429,288 ounces at total cash costs 2 per ounce on a by-product basis of $637, compared to guidance of 1,400,000 ounces at total cash costs per ounce on a by-product basis of $663. All-in sustaining costs 3 (“AISC”) for 2014 was $954 per ounce on a by-product basis, which is below the previous 2014 guidance of $990 per ounce on a by-product basis.
  • Record fourth quarter production  – Payable production in Q4 2014 was 387,538 ounces of gold at total cash costs per ounce on a by-product basis of $662
  • 2015 guidance maintained – Production for 2015 is expected to be approximately 1.6 million ounces of gold with total cash costs on a by-product basis of $610 to $630 per ounce. AISC are forecast to be approximately $880 to $900 per ounce
  • Year-over-year increase in reserves and resources – With the acquisition of Osisko Mining Corporation, reserves at year end 2014 were 20.0 million ounces compared to 16.9 million ounces at year end 2013.  Measured and indicated resources and inferred resources also increased by approximately 56% and 33%, respectively, over the 2013 period
  • Continued focus on reserve quality and improved grades – Increased gold reserve grades at LaRonde (5.20 g/t versus 5.00 g/t), Kittila (4.93 g/t versus 4.64 g/t) and Pinos Altos (3.01 g/t versus 2.84 g/t)
  • Increased reserves, resources and positive permitting progress in Nunavut – Initial inferred resource of 1.5 million ounces (6.6 million tonnes grading 7.07 g/t gold) reported at Amaruq project.  Meliadine reserves increased by approximately 500,000 ounces to 3.3 million ounces (at a grade of 7.44 g/t gold), and the Project Certificate setting out the terms on which the project can proceed is expected within the next two months
  • Proceeds from sale of Probe Mines shares used to reduce debt – In Q1 2015, $30 million was repaid on the credit line.
  • A quarterly dividend of $0.08 per share declared






Today, Bill Holter tackles an extremely difficult topic


(courtesy Bill Holter/Miles Franklin)




How far is too far?.



As you know, I am in the camp that the West, led by the U.S. is and has been pushing for war.  War to create more debt for the banks to skim from, and to retain/prolong the power of dollar hegemony.  I also believe China is not looking for a war and neither is Mr. Putin and Russia.  If they were, I believe there was enough provocation over one year ago with Syria and over the last year as sanction after sanction has been implemented.

  In my opinion, Mr. Putin has been pushed just about as far as he will allow.  The arming of Ukraine by NATO will cross the line and the strategy of encircling Russia is not acceptable.  The data I have seen over the last 90 days leads me to believe something very big and very soon will come from Russia …and will not be “singular”, I believe what comes will be multi dimensional.  In no particular order, and you decide the importance, I believe the response”s” from Russia will be nearly simultaneous.
  First, there will be a financial response.  This may include hacking our financial institutions, dumping Treasury bonds and dollars, purchasing and making calls on various commodity markets, buying and asking for delivery of both gold and silver amongst other disruptive strategies.  Russia could also announce a “gold ruble” to stabilize their currency and economy, this might likely be followed by some sort of Chinese announcement?  Geopolitically, we may hear of deals cut with the Germans and French.  There may be further deals between the Swiss and Chinese or even other Western nations, we may also watch as Greece is given a deal and falls Eastward.  Saudi Arabia will most likely also be of interest as they now have a new ruler.  Will they continue the petro dollar status, or have “new” deals already been arranged during talks late last year with both Russia and China?
  Militarily we could see Russia invade Ukraine outright or worse.  Russia has had months to prepare and just last week mobilized over 100 mobile ICBM missile launchers.  Their actions are not those of a nation readying to stand down.  Please do not tell me that any of the above is impossible, with the financial backing of the Chinese, ANY and all of this is possible.  A goal of fracturing NATO is quite logical in my estimation.
  Now for the “crazy” part, but I believe to be a necessary part.  We know that Edward Snowden has been a “guest” living in Russia for over one year.  Do you believe he has been given “free rent”?  Do you believe he has as “sensitive” information as we have been led to believe by Mr. Obama and others?  Personally, I do…and maybe then some.  If you take the above, financial, geopolitical and military pieces and put them together, only one piece is missing, “sentiment”.  Sentiment of the American people!  If Mr. Putin were somehow able to cut the populace’ natural patriotism out from under the current administration, there will be no “will” to fight.  How could this be accomplished?
  Let me put several “sentiment” pieces together and you decide if any of this makes sense.  Do you remember back in December there was a blast of media attention given to “torture” at Gitmo and several names in the Bush administration came up?  Did you know Senator Nelson from Florida has been pushing for several months very hard to get the 28 missing pages from the 9-11 report made public?  These 28 pages allegedly name the Saudis as financiers of that sad day.  What if some of the information Mr. Snowden has to offer is bigger than currently thought?  Or separately, what if he has proof showing fraud of a massive nature?  It could be proof of financial fraud, military fraud or even false flag evidence?  What then?  How much is too much for the American people to swallow?
  I do not want to argue the logistics.  What I do want to do is ask you what your thoughts are should any of these responses be undertaken by Mr. Putin?  What do you believe will happen to the dollar?  Take each one these retaliations, one by one.  Could we withstand an attack (supported by the Chinese) on our financial markets?  Can Europe, or NATO survive an exit of Greece?  Spain or Italy?  Were Russia to invade Ukraine, who would stop them?  And how?  Then add in “public opinion”, the sentiment of a population can steer official policy more than almost any other factor.  How would the current (or any) administration deal with a public that knows for a fact they’ve been deceived?  As Jim Sinclair says, the dollar is “the common stock” of the U.S., would any of this be good for the dollar or might it spur some serious and unending sales?
  I believe we have pushed Russia just about as far as she will allow it.  ANY of the above reactions by Russia (and probably supported by China) will be enough to seriously damage, if not entirely blow up our financial system.  ALL of them simultaneously would be devastating!  We have made it extremely easy for any adversary to do serious damage with very little effort.  We have done so by leveraging our banking and financial systems beyond all reason.  We have used fraud and unfair practices at every turn to “better our position”.  In doing so, and for so many years, the vulnerability to our way of life has never been greater since 1776!   As a patriotic American I hope my analysis is all wet.  As a rational human being, I am afraid it is not.  May God help and bless us all!  Regards,  Bill Holter