Yesterday, when we reported the latest rumor of Russian gold selling, this time out of SocGen, we said that “it should be noted that SocGen and its “sources” have a conflict: in an indirect way, none other than SocGen is suddenly very interested in Russia stabilizing its economy because as we wrote before, “Russia Contagion Spreads To European Banks : French SocGen, Austrian Raiffeisen Plummet” which also sent SocGen’s default risk higher in recent days. So if all it will take to stabilize the RUB sell off, reduce fears of Russian contagion, and halt the selloff of SocGen stocks is a “source” reporting what may or may not be the case, so be it.”
Moments ago, as if to deter further speculation that Russia is indeed converting hard money earned from real resources for fiat paper, the Russian monetary authority made it quite clear, that at least in November, Russia not only did not sell any gold, but in fact bought another 600K ounces in the month of November.
- RUSSIAN MONETARY GOLD HOLDINGS RISE VS 37.6M ON NOV. 1
- RUSSIAN MONETARY GOLD HOLDINGS 38.2M TROY OZ AS OF DEC. 1
So we can now add another 600K to Russia’s most recent holdings:…
A Japanese company with some offices in California was hacked. Several terrabytes of data were copied off its internal networks and some of it was put on file sharing sites. One of the items copied was a film produced in Canada that depicts as comedy the terror act of killing of a current head of state. The U.S. State Department applauded that movie scene. But there were tons of other data like social security numbers, payroll data, and internal emails stolen all of which that might have been the real target of the hackers.
The tools to hack the company are well known and in the public domain. The company, Sony, had lousy internal network security and had been hacked before. The hackers probably had some inside knowledge. They used servers in Bolivia, China and South Korea to infiltrate. There is zero public evidence in the known that the hack was state sponsored.
But the U.S. is claiming that the event is a “national security matter”. Who’s national security? Japan’s? Canada’s? Why? A private Japanese entertainment(!) company left the doors open and had some equipment vandalized and some of its private property stolen. Why, again, is that of U.S. “national interest”? Why would the U.S. even consider some “proportional response“?
The White House is anonymously accusing the state of North Korea of having done the hack. It provides no evidence to support that claim and the government of North Korea denied any involvement. The FBI and Sony say they have no evidence for such a claim…