Why is the Arctic at the Center of World Politics?

News coverage of the Arctic has been steadily growing in tandem with the rising importance of the region in recent years. The focus of international politics often tends to revolve around energy security within the context of a global scramble for resources to keep individual countries’ economic growth engines humming. In view of the possibilities of the Arctic as a future abundant natural resources supply base for various pivotal countries, especially in Asia, non-Arctic states such as South Korea, Japan, and China join actual Arctic nations in taking a more active part in contemplating Arctic development and theregion’s future. The Arctic Council accepted India, China, Japan, South Korea, Singapore and Italy as observers to the Council in May 2013 even though they all lack territory north of the Arctic Circle.This actually constitutes a welcome development because some circumpolar issues – specifically originating from human activities south of the Arctic Circle – are, indeed, transnational in nature such as climate change and marine shipping. The changing climate in the High North can expose countries further south to hostile climatic trends impacting weather and eventually their food security. Continue reading

Turk – 15,000 Tons Of Western Central Bank Gold Is Gone

Today James Turk once again shocked King World News when he stated, “… in 1997 over (a stunning) 2,000 tons of gold moved out of Great Britain.”  Turk added, “Now since Great Britain is not a gold miner, we know that gold had to come out of the Bank of England (where they store other countries gold), and it probably went into Zurich (Switzerland) for what’s called ‘leasing’ but I use the word ‘lending,’ or lending into the market.”

But first, here is what Turk had to say about his last interview titled, “The Entire German Gold Hoard Is Gone,” which has received an incredible amount of attention around the world:  “Yes, it’s getting increasing attention, Eric, and rightly so.  There has been a lot of deception about how much gold is really in central bank vaults.

The reason why there is this deception, if you look at a balance sheet of a central bank like the Bundesbank, Bank of Italy or the Bank of England, they basically say gold in the vault and gold out on loan, they show it as one line item.  They call it, ‘gold and gold receivables.’

Anybody who understands generally accepted accounting principles knows that ‘cash’ is different from an ‘account receivable.’ Continue reading