Israel Attacks Gaza, Hundreds Dead: Who Made a Killing?
December 27th, 2008What did the Benazir Bhutto assassination and the latest Israeli attacks in Gaza have in common?
There was a strong move higher on gold immediately preceding both incidents, which were spaced one year apart, to the day.
Remember how gold moved before Bhutto was killed?
Check out this Bloomberg piece from yesterday (a day before the Israeli attack):
Gold prices rose the most in a week as mounting tensions in the Middle East and South Asia boosted the appeal of the precious metal as a haven.
Palestinian militants yesterday launched their biggest rocket attack on southern Israel in at least six months after a truce expired Dec. 19. Pakistani troops are being diverted from tribal areas near Afghanistan to the border with India, the Associated Press reported. Gold gained 4 percent this week.
“The only possible explanation for gold’s gains are the geopolitical tension in Gaza and in India and Pakistan,” said Leonard Kaplan, the president of Prospector Asset Management in Evanston, Illinois.
Gold futures for February delivery climbed $23.20, or 2.7 percent, to $871.20 an ounce on the Comex division of the New York Mercantile Exchange, the biggest gain for a most-active contract since Dec. 17. The metal is up 6.4 percent this month.
Yes, this is a Coincidence, but you might want to see, They Made a Killing: The Use of Knowledge of Covert Operations in the Stock Market, anyway, to see how this has worked in the past. Obviously, the Gaza attack isn’t a covert operation, but the point is the same.
Via: Reuters:
Israeli war planes and combat helicopters pounded the Hamas-ruled Gaza Strip on Saturday, killing at least 140 people and prompting rocket fire from Palestinian militants that killed an Israeli, medics said.
The dead and wounded lay scattered on the ground following the Israeli attacks, which destroyed several Hamas police compounds in the bloodiest day for Palestinians in more than 20 years. Distraught rescuers cried out as they tried to find those still alive and black smoke billowed over Gaza city.
The Israeli military said it had targeted “terrorist infrastructure” and pledged more strikes if necessary, possibly targeting leaders of the Hamas Islamist militant group.
Hamas threatened to unleash “hell” to avenge the dead, including possible suicide bombings, and militants fired rockets into southern Israel soon after the Israeli strikes. Medics said one Israeli was killed and two were moderately wounded.
Palestinian President Mahmoud Abbas condemned as “criminal” the Israeli air campaign and called for the international community to intervene.
Hospital officials in Gaza City said more than 120 people had been killed there, including 40 at a police headquarters where Hamas was hosting a graduation ceremony for new recruits. Among those killed was police chief Tawfiq Jabber.
Another 23 Palestinians were killed in air strikes in Khan Younis and Rafah in the southern Gaza Strip, medical officials said. At one site, there was a huge crater in the ground.
ESCALATION THREATENED
Uniformed bodies lay in a pile and the wounded writhed in pain, Reuters television pictures showed. Rescuers carried those showing signs of life to cars and ambulances, while others tried to revive the unconscious.
An Israeli army spokesman said the air force had conducted “a massive operation” against “terrorist infrastructure” following the collapse of a six-month-old, Egyptian-brokered ceasefire just over a week ago.
Gaza militants have fired dozens of makeshift rockets at southern Israel in recent days. The rockets cause damage but few injuries.
Hamas armed wing spokesman Abu Ubaida threatened to unleash “hell” on Israel, saying the Islamist group would “teach the enemy a lesson they will never forget.” Hamas said it was considering a new suicide bombing campaign.
An aide to Israeli Defense Minister Ehud Barak said Israel was prepared to step up its assault “as required.”
Several of the rescuers beat their heads and shouted: “Allahu akbar (God is greatest).” One badly wounded prostrate man was quietly reciting verses from the Koran.
A five-day Israeli offensive in March killed more than 120 people, but Saturday’s death toll would be the highest for Palestinians since their 1980s uprising.
just like the United States of America, the racist, colonialist state of Israel will fade into the pages of history in the not-too-distant future. Their crimes against humanity will only hasten their own demise.
Gold is up in early Monday AM trading in Asia: $890/oz.